Zelestra increases sustainability-linked loan to €770m

Renewable energy company Zelestra has secured an additional €235m ($277m) for its sustainability-linked loan, bringing the total to €770m ($907m).

Initially signed in 2023 and extended in 2024, the upsized credit facility is backed by 11 international banks, demonstrating their continued confidence in the company’s business model and long-term vision.

The loan facility has been extended by one year and is set to mature in 2029.

The facility includes enhanced terms, bolsters Zelestra’s financial standing, improves its credit profile and secures the resources needed to tackle future challenges and growing global demand.

Zelestra plans to use the funds to develop new wind farms, solar installations and battery storage systems across its six key markets: Germany, India, Italy, Latin America, Spain and the US.

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.

Zelestra’s CFO Xavier Puig 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.”

Zelestra currently 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 more than €273bn in assets. In May 2025, Zelestra partnered with Sungrow to develop a 1 gigawatt hour battery energy storage system in Tarapacá, Chile.