Zelestra has closed about $60 million in U.S. tax equity financing from Stonehenge Capital for its 81-megawatt direct current (MWdc) Jasper County Solar project in Indiana, the company said on Thursday.
The 60-megawatt alternating current (MWac) project has a long-term environmental attributes purchase agreement with technology company Meta and is expected to become fully operational in the fourth quarter of 2025, Zelestra said.
The transaction follows Zelestra’s April announcement that it had secured $113 million in project financing from Banco Santander, marking another milestone in the project’s development.
Sybil Milo Cioffi, Zelestra’s U.S. chief financial officer, said the deal reflects growing investor confidence in the company’s renewable energy portfolio. “We’re delighted to partner with Stonehenge Capital, a leading provider of tax equity in the U.S., which underscores the financial community’s strong confidence in Zelestra,” she said. “This marks another significant milestone in our commitment to deliver projects that meet our clients’ needs.”
Cioffi added that Zelestra expects its 1-gigawatt pipeline of fully contracted projects across the United States to come online within the next two years.
Whitney LaNasa, senior managing director at Stonehenge Capital, said the firm remains focused on supporting renewable energy expansion. “The collaboration with Zelestra exemplifies Stonehenge Capital’s focus on supporting energy infrastructure throughout the nation,” she said.
Once operational, the Jasper County Solar facility will contribute to Indiana’s renewable energy portfolio while supplying clean power attributes to Meta as part of its corporate sustainability commitments.
