Zelestra has finalised €132 million financing for a 435 MW solar photovoltaic project in Gorbea, Rajasthan. HSBC, Credit Agricole, MUFG, and Bank of America are the banks supplying the financing to the project. The financing received by the plant is assigned as green financing under Zelestra’s Green Financing Framework. This aligns with the Green Loan Principles issued by the Loan Market Association.
The solar project will be used to supply power to the Solar Energy Corporation of India (SECI) for a period of 25 years. It is expected that the plant will provide power equivalent to electricity consumed by 128,000 households annually. The plant will also help reduce around 13.3 million tonnes of carbon emission over its lifetime.
Zelestra India has a total portfolio of nearly 5 GW with 1.5 GW projects in operation, construction, signed or awarded.
