Zelestra, a global multi-technology renewable energy developer, has secured a €130 million syndicated bond facility with Banco Santander, backed by Spain’s Instituto de Crédito Oficial (ICO) and Cesce, the Spanish Export Credit Agency.
The financing will support up to 500 MW of contracted international projects in Italy, Germany and the United States, with construction scheduled to begin in 2026 and 2027. All projects are aligned with Zelestra’s Green Financing Framework, reinforcing the company’s sustainable investment strategy.
The portfolio includes wind power, solar PV and battery energy storage systems (BESS), strengthening Zelestra’s position in key renewable energy markets and supporting grid integration and energy storage deployment.
Beyond diversifying Zelestra’s funding sources, the transaction underscores financial sector confidence in the company’s global growth strategy and its pipeline of contracted renewable energy assets.
Xavier Puig, Chief Financial Officer of Zelestra, said the company’s customer-focused strategy continues to drive substantial international expansion. “We are pleased to receive the backing of leading financial institutions and export credit agencies. This credit line will accelerate our growth and enhance our capacity to deliver large-scale clean energy projects to clients and communities across our global markets,” he stated.
Cesce, acting as Spain’s Export Credit Agency (ECA), manages credit and investment insurance on behalf of the Spanish state. It oversees political, commercial and extraordinary risk associated with the internationalisation of Spanish companies, playing a key role in facilitating overseas investment in renewable energy and other strategic sectors.
The transaction reflects continued momentum in European-backed financing structures aimed at scaling renewable energy capacity, de-risking cross-border investment and supporting long-term clean energy deployment aligned with international climate targets.
Key financing details
| Item | Description |
|---|---|
| Total facility | €130 million |
| Structure | Syndicated bond and equity facility |
| Backing institutions | Banco Santander, ICO (Spain’s state-owned development bank), Cesce (Spanish Export Credit Agency) |
| Installed capacity supported | Up to 500 MW |
| Technologies | Wind power, solar PV, battery energy storage |
| Construction start | 2026–2027 |
| Markets | Italy, Germany, United States |
