Zelestra secures $282mn financing for hybrid solar and storage project in Chile

Zelestra has secured $282mn financing from Natixis CIB, BNP Paribas and BCI for its Aurora project, combining a 220 MWdc solar plant and 1 GWh storage capacity in the Tarapacá region, Chile.

Share:

Gain full professional access to energynews.pro from 4.90€/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90€/month*

No commitment – cancel anytime, activation in 2 minutes.

*Special launch offer: 1st month at the indicated price, then 14.90 €/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99€/year*

To access all of energynews.pro without any limits

*Introductory annual price for year one, automatically renewed at 149.00 €/year from the second year.

Zelestra, an international company specialising in renewable energy, has obtained $282mn financing for the Aurora hybrid project located in the Tarapacá region of Chile. This financing package was structured with Natixis Corporate and Investment Banking (Natixis CIB) and BNP Paribas, with a VAT facility granted by Banco de Crédito e Inversiones (BCI). The operation enables Zelestra to reach financial close for the implementation of this project, which combines a 220 MWdc solar plant and approximately 1 GWh of energy storage capacity.

One of the largest storage projects in Latin America

The Aurora project stands out due to its size and hybrid configuration, combining both solar generation and a large-scale storage solution. According to Zelestra, it is one of the largest battery energy storage systems on the South American continent. The company designed a customised multi-technology solution to guarantee a secure supply of solar electricity to the Chilean company Abastible, particularly during nighttime hours, through a long-term power purchase agreement.

The agreement reached with Abastible, a leading player in the Chilean liquefied petroleum gas market and increasingly active in the electricity sector, secures the project’s profitability through a strong contract framework. This partnership is based on the Aurora facility’s capacity to supply up to 600 GWh of renewable electricity annually, a volume equivalent to the annual consumption of 200,000 Chilean households, according to figures published by Zelestra.

Project execution managed in-house by Zelestra

The implementation of the Aurora project is led by Zelestra’s internal Engineering, Procurement and Construction (EPC) division, ensuring full control over schedules and costs. The company reports that construction is already underway, with current efforts focused on meeting the planned delivery objectives.

Leo Moreno, Chief Executive Officer of Zelestra, stated that this transaction “reinforces the financial community’s confidence in the company’s multi-technology development strategy” and highlights the scale of the Aurora initiative within the regional storage market. According to Zelestra, the Aurora project addresses the growing demand for hybrid energy solutions on the Chilean market through a model based on long-term private contracts.

The scale of the investment and the financial structuring involving several international banks reflect the current momentum for financing hybrid projects combining solar generation and storage, attracting increasing interest from institutional investors in South America.

The end of China's VAT rebate and reduced output bring an end to eighteen months of historically low prices in solar and storage sectors.
The Kuwait Authority for Partnership Projects has shortlisted several companies for Phase III of the Al Dibdibah solar plant, with a net capacity of 500 MW.
The Central Electricity Regulatory Commission has agreed to examine compensation claims by ACME Solar and AMPIN Energy, citing losses caused by non-operational transmission lines.
The Japanese developer has reached a total of 100MW in solar capacity under power purchase agreements with Microsoft, spread across four projects in the country, two of which are already operational.
SNCF Énergie signed four new renewable electricity purchase agreements with Neoen in July, covering the annual consumption equivalent of the TGV Paris–Bordeaux line.
RWE has inaugurated a 4 megawatt-peak solar park in Charente-Maritime, built on a former municipal landfill site and capable of supplying electricity to approximately 1,500 households.
EDF power solutions and El Paso Electric have started operations at the Milagro Energy Center, combining 150 MW of solar photovoltaic capacity and 75 MW of battery storage under a 20-year power purchase agreement.
Iberdrola strengthens its partnership with Norges Bank Investment Management by adding two Spanish photovoltaic plants, raising joint operational capacity to 900 MW.
Producer Red Rocket has finalised financing for a 331 MWp solar park in Mpumalanga, backed by a 20-year power purchase agreement with Discovery Green.
Sun Investment Group has launched a crowdfunding campaign with Enerfip to raise up to €1.6mn ($1.7mn) to support the development of twelve photovoltaic plants in Italy totalling 113 MW.
GreenYellow will develop a 1.5 MWp photovoltaic plant in Mauritius for Volailles et Traditions, with an expected annual output of 2.45 GWh fed into the national power grid.
An alternative energy scenario proposes increasing solar and storage capacity by 2037 to reduce fossil fuel dependence and cut electricity generation costs in Thailand.
Osaka Gas and Daiwa Energy & Infrastructure have formed a partnership to expand their renewable energy business with the acquisition of a 25MW solar power plant in Kyoto, formerly owned by Kyocera TCL Solar.
Global South Utilities, filiale de Resources Investment LTD, inaugure à N’Djamena la centrale Noor Chad de 50 MW avec 5 MWh de stockage, dimensionnée pour alimenter des centaines de milliers de foyers et exploitée directement par l’entreprise.
Nine African countries will receive €545mn ($638mn) in European Union funding to support rural electrification and strengthen regional renewable energy infrastructure.
TotalEnergies will transfer half of a 1.4 gigawatt solar portfolio to KKR, strengthening its position in the North American power market while securing $950 million through the sale and bank refinancing.
EDP, via EDP Renewables, inaugurates in Menestreau (Nièvre) a photovoltaic park of nearly 16MWc, comprising 29,630 panels and designed to produce about 19GWh per year, in co-activity with sheep farming.
The transaction creates the fifth-largest US residential solar player by installed megawatts, doubles the sales force to 1,734 representatives and targets a record operating profit in the fourth quarter of 2025.
Founder Group invests MYR1.16bn ($2.76bn) in a 310 MWp solar project with storage in Malaysia to power a future 200 MW green data centre campus.
RES secures a three-year contract to operate the Cleve Hill site, marking a strategic asset transfer in the UK's large-scale solar market.