Zelestra, a renewable energy project developer, secured €13 million (~$15.16 million) senior debt green financing for the development of two solar projects in Italy. The financing package was arranged with BPER, an Italian lender that is also acting as Hedging and Agent Bank.
The funding will be used for the development of two solar projects in Italy, the 6.5 MW Ginosa project in Puglia and the 9.5 MW Bellomo project in Sicily.
Both projects are backed by long-term power purchase agreements with BKW, a Swiss energy and infrastructure group, enhancing revenue certainty and reinforcing their investment-grade credentials.
Eliano Russo, CEO at Zelestra Italia, said: “Signing our first financing agreement in Italy with a reputable institutional partner such as BPER represents a key milestone and a strong endorsement of Zelestra’s bankability and disciplined approach to project development and execution. We are grateful for the trust placed in our team and platform. We now remain focused on actively doubling our 1.4 GW Italian pipeline in 2026 and bringing many more solar and BESS projects into construction.”
Last year in December, the company 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 9M and Q3 2025 Solar Funding and M&A report, large-scale project funding increased by 43% in the first nine months of 2025 compared with the same period in 2024.
This Month, Adapture Renewables, a utility-scale solar and energy storage project developer, announced the closing of $233 million in tax equity financing commitments. The financing was secured from U.S. Bank for the development of two solar projects within its Titanium portfolio in Illinois and Arkansas.
