Santander Provides $154 Million Loan to Zelestra for Renewables Expansion
Zelestra secured a $154 million financing package from Santander to support its European renewable energy project pipeline. The five-year senior loan will fund development of wind and solar installations scheduled for completion by 2027.
1. Financing Agreement Details
Zelestra and Santander finalized a $154 million senior loan with a five-year tenor. The structured debt package includes periodic amortization and an optional green tranche to align with environmental targets.
2. Use of Proceeds and Timeline
Proceeds will back Zelestra’s pipeline of wind and solar projects across Europe, targeting commissioning by end-2027. The funds are designed to accelerate plant construction and meet upcoming subsidy cycle deadlines.
3. Impact on Financial Profile
The deal strengthens Zelestra’s balance sheet by securing fixed-rate funding, reducing reliance on equity issuance. Improved leverage metrics may enhance credit ratings and lower the company’s weighted average cost of capital for future developments.