Zelestra Increases Corporate Financing Facility to EUR 535 million to Bolster its Global Multi-Technology Growth

Jul 1, 2024

Zelestra Increases Corporate Financing Facility to EUR 535 million
  • Increase of EUR225 million to the existing facility and incorporates five new lenders for a total of twelve
  • Total debt term extended by two years, until March 2028

Zelestra has closed an increase of EUR 225 million to its EUR 310 million sustainability-linked loan signed in 2023, incorporating, ABN AMRO, BNP Paribas, CIBC, Mizuho and Rabobank to the existing lenders ICO, HSBC, Crédit Agricole CIB (CACIB), Natixis CIB, Santander CIB, Société Générale and BBVA.

The original seven lenders will act as Bookrunners. CACIB will continue acting as Agent Bank and HSBC will serve as a Sustainability advisor.

With a two-year extension as part of the facility increase, this EUR 535m facility will now function for four years, until March 2028. The additional uncommitted tranche established in the inaugural facility has been increased from EUR 175 million to EUR 225 million, as a consequence of achieving a 2.4 times oversubscription.

The funds will be deployed to build new renewable energy generation and storage assets in its five strategic markets –South Europe, Germany, Latin America, India and the United States. The facility enables Zelestra to further progress on its purpose to make decarbonization a reality for its partners.

Zelestra currently manages an operational portfolio and a pipeline of carbon-free projects of 20 GW in 13 countries. It is a vertically-integrated company specializing in developing, constructing, commercializing, and operating large-scale renewable energy. Zelestra is made up of 800+ professionals globally.

Luis Alvargonzález, CFO of Zelestra, said: “Zelestra is on a journey of exponential growth, and the increase in financing is a crucial part of this path. This expanded financial capacity is a testament to the enormous confidence that lenders have in the company’s growth plan“.

About Zelestra

With a portfolio of 20 GW of carbon-free projects across 13 countries, Zelestra is a vertically integrated company specializing in developing, constructing, commercializing, and operating large-scale renewable energy projects. Zelestra is made up of 800+ professionals globally.  It is backed by EQT, one of the largest fund managers in the world, with USD 232bnin assets under management.