The financing is supported by a contracted structure comprising 21 PPAs. It will fund the construction phase of the Belinchón I, II and III projects, to be located in Cuenca, (Castilla-La Mancha, Spain), with a total capacity of 162 MWdc and an annual production of 322 GWh.
The construction of these facilities will create more than 400 jobs, and the plants are scheduled to start operating in the second quarter of 2026.
Brazatortas I, II and IV, located in Ciudad Real (Castilla-La Mancha, Spain) account for a combined total capacity of more than 75 MWdc and will have a total annual production of 145 GWh. The projects will support more than 400 jobs in construction and will be operational in the second quarter of 2026.
The total capacity of the six projects could power the annual equivalent electricity demands of 150,000 homes in Spain and displace emissions of 84,596 tCO2 per year.
“Closing this major financing agreement is an important step in delivering these large-scale solar projects on time and on budget for our customers” said Luis Alvargonzalez, Zelestra’s Country Manager in Spain. “We are very pleased that the financial community has confidence in Zelestra’s strategy and our team, and we thank BNP Paribas and Rabobank for their support. With construction taking shape, these projects will support hundreds of jobs over the next year and make an important contribution to Spain’s decarbonization goals.”
Zelestra has a project portfolio of more than 6 GW in Spain, which includes over 800 MW of projects contracted, in construction, or operational. The company was recently named among the top 10 sellers of clean energy to corporate customers globally by BloombergNEF (BNEF), and number 2 in Europe, Middle East and Asia.
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