The renewable energy company Zelestra has successfully closed a €146.6 million green financing to boost a portfolio of solar projects of 237 MWdc in Spain. This financial transaction will enable the development of six photovoltaic facilities in the provinces of Cuenca and Ciudad Real, under the Belinchón and Brazatortas clusters.
According to the agreement reached, the financing has been structured with the backing of 21 power purchase agreements (PPAs), reinforcing the commercial viability of the projects. BNP Paribas and Rabobank have led the operation as financial institutions and coordinators of the green loans.
More details on solar projects
In Cuenca, the Belinchón I, II and III plants will have a combined capacity of 162 MWdc, with an estimated production of 322 GWh per year. Meanwhile, Brazatortas I, II and IV, in Ciudad Real, will contribute more than 75 MWdc and generate around 145 GWh each year.
These initiatives are expected to generate approximately 800 jobs during the construction phase and be operational in the second quarter of 2026. Once operational, the projects will supply the annual electricity consumption of close to 150,000 households, making a tangible contribution to the national decarbonization strategy.
Zelestra, backed by the EQT fund, continues to consolidate its position in the Spanish market, where it currently manages more than 6 GW in renewable initiatives. The company was recently recognized by BloombergNEF as one of the leading clean energy firms globally, ranking second in Europe, the Middle East and Asia.
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Source: Zelestra
Photo: shutterstock
