Zelestra secures US$176 million green financing package for the 242 MW solar plant
Published by Abby Butler,
Editorial Assistant
Energy Global,
Zelestra, a global, multi-technology, customer-focused renewable energy company, has achieve financial close of the 242 MWdc Babilonia solar project in Perú, through a US$176 million project green financing package agreed with Natixis CIB and BBVA Perú.
Babilonia consolidates Zelestra’s 16-year presence in the country, and forms part of the La Joya solar complex in Arequipa, which will have a total planned capacity of nearly 700 MW. This includes Zelestra’s operational 300 MW San Martín plant and the 125 MW San Joaquin project, which is in advanced development.
The project was enabled by a long-term power purchase agreement with Celepsa, a leading company in the Peruvian electricity sector.
Delivery of the Babilonia, which started construction in February 2026, is being led by Zelestra’s internal EPC division. The project will support more than 500 direct jobs during construction, and it will produce enough clean energy to supply approximately 350 000 Peruvian homes when operational.
Xavier Puig, CFO of Zelestra, commented: “The green financing package for Babilonia is a significant transaction for Zelestra. This agreement reaffirms the confidence that major global financial partners have in our customer-first strategy and our project execution capabilities in multiple markets. Our internal EPC division recently kicked off the construction programme, and we look forward to delivering the energy on time for our customer, Celepsa.”
Zelestra is a leading renewable energy player in Perú, with 600 MW of projects in operation or construction, and a pipeline for growth of more than 1.5 GW.
For more news and technical articles from the global renewable industry, read the latest issue of Energy Global magazine.
Energy Global's Winter 2025 issue
Don’t miss out on our final issue of Energy Global from 2025! The Winter issue begins with a regional report on Africa’s energy future, with articles on topics such as wind turbine components, geothermal drilling & operations and energy storage technology. With contributors including Magnomatics, Flyability, Bachmann electronic GmbH, NOV, and more, don’t miss out!
Read the article online at: https://www.energyglobal.com/solar/06032026/zelestra-secures-us176-million-green-financing-package-for-the-242-mw-solar-plant/
You might also like
UPM to modernise Tyrvää hydropower plant
UPM Energy is investing over €20 million in the extensive modernisation of the Tyrvää hydropower plant.