Zelestra, a global, multi-technology and customer-focused renewable energy company, has successfully reached financial close for its first two solar projects in Italy, marking a key milestone in its European expansion. The projects include the 6.5 MWdc Ginosa solar plant in Puglia and the 9.5 MWdc Bellomo solar plant in Sicily, both financed through an approximately €13 million senior debt green financing package.
The financing was arranged with BPER, a leading Italian lender, which also acted as Hedging Bank and Agent Bank for the transaction. The successful financial signing reflects growing institutional confidence in Zelestra’s development capabilities, technical standards, and long-term value creation strategy.
Long-Term PPAs Strengthen Revenue Stability
Both solar projects benefit from long-term power purchase agreements (PPAs) with BKW, a prominent Swiss energy and infrastructure group. These agreements enhance the projects’ revenue certainty and support their investment-grade profile, ensuring stable cash flows over the long term.
Once operational, the Ginosa and Bellomo plants are expected to collectively displace approximately 8,500 tonnes of CO₂ emissions annually. The projects will generate enough clean electricity to meet the annual power needs of the equivalent of around 10,000 Italian households, contributing to Italy’s decarbonisation and renewable energy targets.
Leadership Commentary and Growth Outlook
Commenting on the achievement, Eliano Russo, CEO of Zelestra Italia, said: “Signing our first financing agreement in Italy with a reputable institutional partner such as BPER represents a key milestone and a strong endorsement of Zelestra’s bankability and disciplined approach to project development and execution. We are grateful for the trust placed in our team and platform. We now remain focused on actively doubling our 1.4 GW Italian pipeline in 2026 and bringing many more solar and BESS projects into construction.”
Expanding Renewable and Storage Portfolio in Italy
Italy has emerged as one of Zelestra’s fastest-growing markets. The company recently secured contracts for nine projects under Italy’s FER X auctions, enabling the construction of up to 168 MW of new solar capacity. Overall, Zelestra has built a development portfolio exceeding 1.4 GW of combined solar and battery energy storage system (BESS) projects in the country.
In addition, Zelestra recently announced an initial offtake agreement for a large-scale 2 GWh BESS project in northern Italy, positioning it among the largest battery storage developments in Europe and reinforcing its long-term commitment to Italy’s energy transition.
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