Zelestra, a renewable energy company, has secured an additional €235 million ($277 million) for its sustainability-linked loan, bringing the total to €770 million ($907 million). This upsized credit facility, backed by 11 international banks, underscores the continued confidence in Zelestra’s business model and long-term vision. The loan, initially signed in 2023 and extended in 2024, has been further extended by one year and is now set to mature in 2029. The enhanced terms bolster Zelestra’s financial standing, improve its credit profile, and secure the resources needed to tackle future challenges and growing global demand.
Zelestra plans to channel these funds into developing new wind farms, solar installations, and battery storage systems across its six key markets: Germany, India, Italy, Latin America, Spain, and the United States. As of late 2023, Zelestra had achieved a 1GW worldwide contracted portfolio. This figure has grown fivefold to reach 5.4GW in less than two years, and the company aims to secure contracts for 9GW worth of projects by 2026.
Xavier Puig, Zelestra’s Chief Financial Officer, stated, “Zelestra’s customer-centric strategy is accelerating our growth in all our key markets. Our customers trust us to deliver the clean energy solutions they need, and we are pleased that these major lenders also continue to trust in our strategy and our outlook. This increased financial capacity will enhance our ability to deliver the wind, solar, and battery storage solutions that our clients’ need.”
Currently, Zelestra manages a portfolio of 29GW of carbon-free projects across 13 countries, with 5.4GW contracted and in operation, construction, or pre-construction phases. The company is supported by EQT, a global fund managing over €273 billion in assets. In May 2025, Zelestra partnered with Sungrow to develop a 1 gigawatt hour battery energy storage system in Tarapacá, Chile.
This significant financial boost and strategic partnerships position Zelestra to play a pivotal role in the global renewable energy sector. The company’s rapid growth and ambitious targets could influence the trajectory of renewable energy adoption, particularly in emerging markets. As Zelestra expands its portfolio, it may set new benchmarks for project development timelines, financial structuring, and operational efficiency. The sector could see increased competition and innovation as other players strive to match Zelestra’s pace and scale. Additionally, the company’s focus on customer-centric solutions may drive a shift towards more tailored renewable energy offerings, potentially reshaping how projects are designed and delivered.