Zelestra, a renewable energy project developer, secured a $600 million green financing credit facility with Société Générale and HSBC for the 252 MW Echols Gove project in Lamar County and the 187 MW Cedar Range solar project in Hopkins County in Texas.
Both projects, currently under construction, are backed by long-term power purchase agreements with Meta. McCarthy Building Companies is the lead engineering, procurement, and construction contractor for both projects. The projects are expected to reach commercial operation by the end of 2027.
Meta and Zelestra have power purchase agreements for seven projects in total, aggregating to 1.2 GW, which aid Meta’s efforts to add new generation to the grid.
Sybil Milo Cioffi, Zelestra’s U.S. CFO, said: “This financing marks a significant milestone in the delivery of our largest U.S. solar projects to date. It reflects strong confidence from Societe Generale and HSBC in our strategy and execution capabilities and reinforces our ability to attract first-class capital to support our growth platform in the U.S. market”.
Headquartered in Arlington, Virginia, Zelestra is developing a portfolio of approximately 15 GW of renewable energy projects across key markets.
Previously, the company has secured financing across multiple deals, including a $176 million project green financing package for the 242 MWdc Babilonia solar project in Perú, a €130 million (~$154 million) syndicated equity-bond with Santander for 500 MW of contracted projects across Italy, Germany, and the U.S., and a €13 million (~$15.16 million) senior debt green financing for the development of two solar projects in Italy.
In December 2025, Zelestra entered into an agreement for the sale of its Latin America platform to Promigas, a multi-energy company based in Colombia. The platform consists of a total portfolio of more than 2.1 GW of solar and battery energy storage systems capacity with 19 projects in advanced development, located in Colombia, Peru, and Chile, and 1.4 GW contracted with customers.
According to Mercom’s Annual and Q4 2025 Solar Funding and M&A report, large-scale project funding increased 37% in 2025 compared to 2024.
