Zelestra, formerly known as Solarpack, has announced an increase in its corporate financing facility to EUR 535 million (USD 574.8m) to bolster new projects and support its global growth strategy.
The company has expanded its existing EUR 310 million sustainability-linked loan, securing an additional EUR 225 million and extending the loan term to March 2028. This augmentation comes in response to high demand, particularly for the uncommitted tranche, which grew from EUR 175 million to EUR 225 million.
Five new banks—ABN AMRO, BNP Paribas, CIBC, Mizuho, and Rabobank—have joined the existing consortium of lenders, which includes ICO, HSBC, Credit Agricole CIB (CACIB), Natixis CIB, Santander CIB, Societe Generale, and BBVA. The original seven lenders will act as bookrunners, with CACIB continuing as the agent bank and HSBC serving as sustainability advisor, according to Zelestra.
Zelestra intends to deploy these funds to develop renewable energy and energy storage projects across key markets including southern Europe, Germany, Latin America, India, and the United States.
