Zelestra has closed approximately $60m in US tax equity funding from Stonehenge Capital for its 81MWdc Jasper County Solar project in Indiana, the company said.
The 60MWac project has a long-term environmental attributes purchase agreement with Meta and is scheduled to be fully operational in the fourth quarter of 2025, according to Zelestra.
The milestone follows the company’s announcement in April that it secured $113m in project financing from Banco Santander.
Sybil Milo Cioffi, Zelestra’s US chief financial officer, said: “We’re delighted to partner with Stonehenge Capital, a leading provider of tax equity in the US, which underscores the financial community’s strong confidence in Zelestra. This marks another significant milestone in our commitment to deliver projects that meet our clients’ needs.”
She added that Zelestra expects its 1GW pipeline of fully contracted US projects to be operational in the next two years.
Whitney LaNasa, senior managing director at Stonehenge Capital, said: “The collaboration with Zelestra exemplifies Stonehenge Capital’s focus on supporting energy infrastructure throughout the nation.”