Renewable energy provider Zelestra has closed $350 million in green financing credit facilities for its 203 MW Reclamation Solar project in Gibson County, Indiana.
The transaction pushes Zelestra past $1.14 billion ($1 billion base) in US project financing raised during 2026, backing the construction of more than 800 MW of solar capacity nationwide.
The credit facilities were underwritten by a banking syndicate comprising Canadian Imperial Bank of Commerce (CIBC), serving as left-lead arranger, alongside BBVA and Société Générale.
The Reclamation Solar project is anchored by a long-term Power Purchase Agreement (PPA) with technology firm Meta, with commercial operations scheduled to begin by the end of 2027.
Project specifications and economic highlights include:
- Brownfield redevelopment: The facility is situated on land reclaimed from former coal mining operations in south-west Indiana.
- Employment impact: Site construction is underway and is expected to support approximately 200 peak construction jobs in Gibson County.
- Pipeline growth: Headquartered in Arlington, Virginia, Zelestra maintains a development pipeline of approximately 16 GW across core US power markets, targeting corporate clean energy buyers and data centre operators.
Sybil Milo Cioffi, US Chief Financial Officer at Zelestra, stated that surpassing $1 billion in US financing demonstrates strong banking partner appetite for corporate-backed clean energy projects.
Ines Serrao, Head of US Project Finance & Infrastructure at CIBC, added that financing large-scale renewable generation is critical to meeting rapidly expanding electricity demand across the United States.
