Renewable energy developer Zelestra has closed a $600 million green project financing package to fund the construction and development of two utility-scale solar plants in Texas. The projects, totaling 440 MW, are backed by long-term power purchase agreements (PPAs) with Meta.
Image: Zelestra
The financing credit facility was secured through Societe Generale and HSBC. The capital will support the 252 MW Echols Grove project in Lamar County and the 187 MW Cedar Range project in Hopkins County. Both facilities are currently under construction, with McCarthy Building Companies serving as the engineering, procurement, and construction (EPC) lead.
Zelestra and Meta now have seven signed PPAs totaling nearly 1.2 GW of capacity.
Headquartered in Arlington, Virginia, and backed by EQT, Zelestra maintains a global development pipeline of approximately 15 GW. The company was recently ranked by BNEF as one of the top 10 sellers of clean energy to corporate customers in the United States.
