Zelestra has secured $181m in green project financing to support the construction of its 176MW Skull Creek solar power plant in Anderson County, Texas.
The funding was arranged by Natixis Corporate and Investment Banking (Natixis CIB). It is backed by a long-term power purchase agreement (PPA) known as Meta PPA Skull Creek.
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The Skull Creek project remains under construction, with commissioning expected by the end of next year.
During construction, the initiative is projected to create about 200 jobs and provide an estimated $8.2m in economic benefits for the local Anderson County area.
Natixis CIB North America infrastructure and energy finance managing director and head James Kaiser said: “We’re proud to support Zelestra, a valued long-term client, on this important financing that will help meet growing regional demand for clean energy.
“This transaction demonstrates our ability to provide innovative financing solutions as Zelestra continues expanding across the US market.”
Zelestra, which is headquartered in Arlington, Virginia, is developing a 16GW pipeline across several US markets.
The renewable energy company’s expansion in the US focuses on delivering multi-technology solutions for hyperscalers and large corporate clients.
Zelestra US chief financial officer Sybil Milo Cioffi said: “We’re scaling fast in the US, with over 2GW contracted and around 1GW in construction today.
“Working with tier-one financing partners such as Natixis CIB is a strong signal of where that momentum is headed – their support reflects real confidence in our execution track record and our growth trajectory in this market.”
Zelestra and Meta entered into the Skull Creek PPA in February this year, which expands their ongoing renewable energy partnership.
Meta’s agreement is aligned with its aim to power all operations with 100% renewable energy.
The PPAs between the two companies encompasses around 1.2GWdc of solar capacity across seven US projects, all expected to be online by 2028.
In March, Zelestra signed bilateral renewable energy agreements in Italy totalling 1.5TWh under the Energy Release 2.0 mechanism.
