Zelestra Passes $1 Billion in 2026 US Project Financing with $350 Million Close for 203 MW Reclamation Solar Project Backed by Meta

ARLINGTON, Va.--(BUSINESS WIRE)--Zelestra, a global, multi-technology, customer-focused renewable energy company, has closed $350 million in green financing credit facilities for the 203 MW Reclamation Solar project in Gibson County, Indiana. The close takes Zelestra past $1 billion ($1.14bn) in project financing raised in the US in 2026, which is putting more than 800 MW of new solar into construction for its customers across the country.

Sybil Milo Cioffi, Zelestra's US CFO, said: “Passing $1 billion in US project financing this year is a milestone we are pleased to share with our lenders and our customers. Reclamation is a major project that will deliver many benefits to our customer."

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The credit facilities were provided by Canadian Imperial Bank of Commerce (CIBC), BBVA and Societe Generale. Reclamation is underpinned by a long-term Power Purchase Agreement (PPA) with Meta and is due to come online by the end of 2027.

Reclamation takes its name from the land beneath it, on a site reclaimed from former coal mining operations in southwest Indiana. The project is already under construction and is expected to support approximately 200 jobs at peak construction.

Sybil Milo Cioffi, Zelestra's US CFO, said: “Passing $1 billion in US project financing this year is a milestone we are pleased to share with our lenders and our customers. Reclamation is a major project that will deliver many benefits to our customer, and to the wider community. We are pleased that CIBC, BBVA and Societe Generale are backing our ambition. These partnerships enable us to keep building at the pace this market needs.”

Ines Serrao, Head of U.S. Project Finance & Infrastructure at CIBC, added: “CIBC is pleased to have served as Left-Lead Arranger on the financing of Reclamation Solar and to support Zelestra on this important project. The transaction demonstrates our ability to deliver financing solutions for large-scale renewable energy projects and support growing power demand across the US.”

Zelestra continues to expand its US platform with multi-technology solutions built around the growing energy needs of hyperscalers and corporate customers. Headquartered in Arlington, Virginia, the company is developing a pipeline of approximately 16 GW across key US markets.

About Zelestra

Zelestra is a vertically integrated company specializing in the development, commercialization, construction, and operation of large-scale renewable energy projects. The company was recently ranked by BloombergNEF among the top 10 sellers of clean energy to corporate customers — both globally and in the US. Zelestra is backed by EQT, a leading global investment organization with more than €291 billion in assets under management.