Zelestra Secures €13M from BPER for Two Solar Plants in Italy

Zelestra, a global company specializing in renewable energy, has finalized the financial signing for its first two solar projects in Italy. The transaction covers the Ginosa plant, with a capacity of 6.5 MWdc located in Puglia, and the Bellomo plant, with 9.5 MWdc located in Sicily. The financing amounts to approximately €13M in the form of green senior debt, arranged with Italian bank BPER. The latter also serves as hedging agent and agent bank on the transaction.

Offtake Agreements Secured with BKW

Both installations benefit from long-term Power Purchase Agreements (PPA) concluded with BKW, a Swiss group specializing in energy and infrastructure. According to the company, these agreements strengthen revenue stability and the quality profile of the projects. Together, the two plants would, according to the data provided, avoid the emission of approximately 8,500 tons of CO2 per year and power the equivalent of 10,000 Italian homes.

Eliano Russo, CEO of Zelestra Italia, described this signing as a key milestone for the company. This transaction would represent, according to him, a validation of Zelestra’s bankability and disciplined approach to project development.

An Expanding Italian Portfolio

The company recently won contracts for 9 projects under Italy’s FER X auctions, representing solar capacity of up to 168 MW. Italy ranks among Zelestra’s fastest-growing markets, with a total portfolio of more than 1.4 GW of solar and Battery Energy Storage System (BESS) projects. The company indicates it aims to double this Italian pipeline in 2026.

Zelestra also announced an initial offtake agreement for a 2 GWh BESS project planned in northern Italy. This project would rank among the largest battery storage projects in Europe. The pace of financial signings and contract awards could determine the company’s ability to realize its growth ambitions in the Italian market.