Zelestra Secures Financial Close for First Solar Projects in Italy

Zelestra has reached financial close for its first two solar power projects in Italy, marking a key milestone in the company’s expansion in the European renewable energy market.

The financing covers a 6.5 MWdc Ginosa solar plant in the Puglia region and a 9.5 MWdc Bellomo solar plant in Sicily. The projects were supported by an approximately €13 million senior debt green financing package arranged with Italian lender BPER, which also acted as the hedging and agent bank for the transaction.

According to the company, the successful financial signing reflects strong lender confidence in Zelestra’s development capabilities, technical standards, and long-term value creation strategy. Both projects have secured long-term power purchase agreements (PPAs) with BKW, providing stable revenues and strengthening their investment-grade profile.

Once operational, the two solar plants are expected to displace around 8,500 tonnes of carbon dioxide emissions annually and generate enough clean electricity to meet the power needs of approximately 10,000 Italian households.

Commenting on the development, Eliano Russo, CEO of Zelestra Italia, said the signing of the company’s first financing agreement in Italy with a leading institutional partner represents a major milestone and validates Zelestra’s bankability and disciplined execution approach. He added that the company is now focused on expanding its Italian pipeline beyond the current 1.4 GW and advancing additional solar and battery energy storage system (BESS) projects into construction from 2026 onwards.

Zelestra has been actively expanding its footprint in Italy, one of its fastest-growing markets. The company recently secured contracts for nine projects under Italy’s FER X renewable energy auctions, enabling the construction of up to 168 MW of new solar capacity. Its Italian portfolio currently includes more than 1.4 GW of combined solar and BESS projects.

In addition, Zelestra has announced an initial offtake agreement for a large-scale 2 GWh battery energy storage project in northern Italy, which is expected to be among the largest battery storage facilities in Europe.