Zelestra has reached financial close on its first two solar projects in Italy, securing an approximately €13 million ($14.1 million) senior debt green financing package arranged by Italian lender BPER, which also acted as hedging and agent bank.
The financing covers the 6.5 MWdc Ginosa solar plant in Puglia and the 9.5 MWdc Bellomo plant in Sicily. Both projects have long-term power purchase agreements in place with BKW, providing contracted revenues for the assets.
According to the company, the two plants are expected to displace around 8,500 tonnes of carbon dioxide emissions annually and generate enough electricity to supply the equivalent of approximately 10,000 Italian households.
Eliano Russo, CEO of Zelestra Italia, said: “Signing our first financing agreement in Italy with a reputable institutional partner such as BPER represents a key milestone and a strong endorsement of Zelestra’s bankability and disciplined approach to project development and execution. We are grateful for the trust placed in our team and platform. We now remain focused on actively doubling our 1.4 GW Italian pipeline in 2026 and bringing many more solar and BESS projects into construction.”
The financing follows Zelestra’s recent success in Italy’s FER X renewable energy auctions, where the company secured contracts for nine projects representing up to 168 MW of new solar capacity. Italy is among Zelestra’s fastest-growing markets, with a development pipeline exceeding 1.4 GW of combined solar and battery energy storage system (BESS) projects.
Separately, the company has also announced an initial offtake agreement for a 2 GWh BESS project in northern Italy, which it says would rank among the largest battery storage projects in Europe once developed.
