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Madrid-based renewable energy company Zelestra announced today that it has secured a $600 million green […]]
Zelestra Secures $600 Million Green Financing to Build Solar Projects Backed by PPAs with Meta – ESG Today
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Zelestra Secures $600 Million Green Financing to Build Solar Projects Backed by PPAs with Meta
Kenny Fisher
March 25, 2026
Madrid-based renewable energy company Zelestra announced today that it has secured a $600 million green financing credit facility to support the development of two solar projects in Texas, backed by long-term power purchase agreements (PPAs) with Meta, the owner of Facebook, Instagram, and WhatsApp.
The two projects, the 252 MW Echols Grove and 187 MW Cedar Range facilities, are currently under construction and form part of a broader portfolio of seven solar projects totaling 1.2 GW under PPAs between Zelestra and Meta.
The agreements support Meta’s efforts to add new renewable generation capacity to the grid and match its operations with 100% clean energy. Meta ranked as the largest corporate clean energy offtaker globally in 2025, according to a recent report by BloombergNEF, contracting 10.24 GW in the year, with its PPA activity largely focused in the U.S.
The financing was provided by Societe Generale and HSBC, with the proceeds expected to support construction and delivery of the projects.
Sybil Milo Cioffi, Zelestra’s U.S. CFO, said:
“This financing marks a significant milestone in the delivery of our largest U.S. solar projects to date. It reflects strong confidence from Societe Generale and HSBC in our strategy and execution capabilities and reinforces our ability to attract first-class capital to support our growth platform in the U.S. market.”
Kenny Fisher
Kenny Fisher is a writer and editor covering ESG, finance, and broader business trends. Most recently, Kenny worked as a content writer at Oanda, a leading online currency trading firm. His articles have been featured on major business and financial online media platforms.
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