UNITED STATES OF AMERICA —Zelestra has secured $350 million in green project financing credit facilities to support the construction of its 203 MW Reclamation solar facility in Gibson County, Indiana. The credit facilities were arranged by Canadian Imperial Bank of Commerce, BBVA, and Societe Generale. Headquartered in Arlington, Virginia, Zelestra is a global multi-technology renewable energy developer with an active US development pipeline of approximately 16 GW.
The financing milestone brings Zelestra's cumulative US project financing to $1.14 billion in 2026, facilitating the development of over 800 MW of new solar capacity nationwide. The Reclamation project is constructed on reclaimed coal mining land and is backed by a long-term power purchase agreement with Meta, with full commercial operations anticipated by the end of 2027.
This transaction underscores the expanding integration between technology hyperscalers and utility-scale clean power producers. As data center expansion accelerates power demand across regional grids, corporate power purchase agreements serve as critical credit enhancements that allow developers to secure competitive capital from international financial institutions.
The deployment of capital into former fossil fuel extraction sites highlights ongoing land-use transitions within industrial energy corridors, repurposing brownfield locations into long-term infrastructure assets. Furthermore, the active participation of tier-one global lenders reflects robust capital market demand for utility-scale solar projects underpinned by high-credit corporate off-takers.
