Spanish renewable energy projects developer and operator Zelestra, backed by leading fund manager EQT, has increased its €310 million sustainability-linked loan by €225 million to invest in building new power generation and storage assets across the globe.  

It plans to build these renewable energy and storage projects in its 5 strategic markets of South Europe, Germany, Latin America, India and the US. Zelestra said this facility enables it to further progress on its purpose to make decarbonization a reality for its partners.  

The company currently manages 20 GW of operational portfolio and a pipeline of carbon-free projects, spread across 13 countries.  

The additional funding brings it 5 new lenders, namely ABN AMRO, BNP Paribas, CIBC, Mizuho and Rabobank, taking the total number of lenders to 12. The company’s existing lenders are ICO, HSBC, Crédit Agricole CIB (CACIB), Natixis CIB, Santander CIB, Société Générale and BBVA with whom it signed the €310 million loan in 2023.   

Zelestra said the €535 million facility has a 2-year extension now, until March 2028.    

Originally known as Solarpack, the company renamed itself Zelestra in June 2024. While making the change, its CEO Leo Moreno had announced, “It is fundamental for us to have a brand that not only supports the strategy of our business but also stands out in a sector as competitive as that of renewables. Differentiation is vital to remain relevant and competitive, and we are proud of our new brand that reflects the unique value we bring in advancing a carbon-free future for customers and our planet.”