- Zelestra reached financial close on its first two Italian solar projects, securing €13m in green financing and long-term PPAs to support 16 MW of new capacity.
- The company is expanding its Italian pipeline beyond 1.4 GW and advancing solar and large-scale BESS projects as it deepens its presence in Europe’s renewable market.
Zelestra has reached financial close for its first two solar power projects in Italy, marking a significant milestone in its European expansion strategy.
The financing covers a 6.5 MWdc solar plant in Ginosa in the Puglia region and a 9.5 MWdc solar plant in Bellomo in Sicily. Italian lender BPER arranged an approximately €13 million senior debt green financing package for the projects. BPER also acted as hedging and agent bank for the transaction.
Meanwhile, Zelestra said the successful financial signing demonstrates strong lender confidence in its development capabilities and long-term value strategy. Both solar projects have secured long-term power purchase agreements with BKW, providing stable revenues and strengthening their investment-grade profile.
Once operational, the two plants will displace around 8,500 tonnes of carbon dioxide emissions per year. They will also generate enough renewable electricity to power approximately 10,000 Italian households.
Zelestra Italia CEO Eliano Russo said the signing of the company’s first financing agreement in Italy represents a major milestone. He said the agreement validates Zelestra’s bankability and disciplined execution framework.
Russo said the company will now focus on expanding its Italian pipeline beyond the current 1.4 GW. He added that additional solar and battery storage projects will move into construction from 2026 onwards.
Zelestra has been expanding in Italy, which it identifies as one of its fastest-growing markets. The company recently secured contracts for nine projects under Italy’s FER X renewable energy auction scheme. The contracts allow the construction of up to 168 MW of new solar capacity.
Zelestra’s Italian portfolio currently includes more than 1.4 GW of combined solar and battery energy storage projects. The company has also announced an initial offtake agreement for a 2 GWh battery storage facility in northern Italy. The project is expected to become one of Europe’s largest battery storage installations.