Zelestra has reached financial close for a 237 MWdc solar photovoltaic portfolio in Spain comprising six projects that form the Belinchón and Brazatortas clusters. The projects are supported by a contracted revenue framework with 21 power purchase agreements in place. A senior debt package of €146.6 million in green financing has been secured to fund the construction phase.
The Belinchón cluster includes Belinchón I, II and III located in Cuenca in the Castilla-La Mancha region. These projects will have a total installed capacity of 162 MWdc and are expected to generate approximately 322 GWh of electricity annually. The projects are scheduled to become operational in the second quarter of 2026.
The Brazatortas cluster comprises Brazatortas I, II and IV located in Ciudad Real also in Castilla-La Mancha. These projects will have a combined capacity of over 75 MWdc and an expected annual electricity generation of 145 GWh. They are also slated to be operational in the second quarter of 2026.
BNP Paribas and Rabobank acted as Mandated Lead Arrangers, Issuing Banks and Hedging Providers for the transaction. BNP Paribas additionally served as the Green Loan Coordinator. Once operational, the portfolio will supply clean energy equivalent to the annual electricity consumption of approximately 150,000 homes in Spain.
