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Zelestra has secured $181 million in green project financing for its 176 MW Skull Creek solar development in Texas, advancing the company’s expansion across the US renewable energy market.
Natixis Corporate and Investment Banking arranged the financing for the project, which is under construction in Anderson County. Skull Creek is backed by a long-term power purchase agreement and is expected to enter commercial operation by the end of 2027.
The financing gives Zelestra additional capital to develop contracted renewable capacity as electricity demand rises across the United States. Corporate buyers, data centers and other large energy users are increasingly seeking long-term power agreements to secure supply and manage exposure to electricity costs.
Zelestra has more than 2 GW of contracted capacity in the United States and around 1 GW currently under construction.
The company is also developing a pipeline of approximately 16 GW across major US markets. Its strategy includes multiple renewable energy technologies aimed at hyperscalers and corporate customers with growing power requirements.
Sybil Milo Cioffi, Zelestra’s US CFO, said: “We’re scaling fast in the US, with over 2 GW contracted and around 1 GW in construction today. Working with tier-one financing partners such as Natixis CIB is a strong signal of where that momentum is headed — their support reflects real confidence in our execution track record and our growth trajectory in this market.”
For lenders, renewable infrastructure backed by long-term contracts can offer greater revenue visibility than merchant power projects. At the same time, developers still face risks tied to construction costs, interconnection queues, equipment availability and changing energy policy.
The involvement of Natixis CIB adds institutional financing capacity as Zelestra moves more of its US pipeline toward construction.
“We’re proud to support Zelestra, a valued long-term client, on this important financing that will help meet growing regional demand for clean energy. This transaction demonstrates our ability to provide innovative financing solutions as Zelestra continues expanding across the US market,” said James Kaiser, Managing Director and Head of North America Infrastructure & Energy Finance at Natixis CIB.
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Skull Creek will also contribute to economic activity in Anderson County during construction.
The project is expected to support approximately 200 jobs and generate an estimated $8.2 million in local economic impact. Those benefits add a regional development component to the project’s role in expanding power generation capacity.
Texas remains one of the most active US markets for renewable energy development. Its growing population, industrial base and data center sector are placing additional pressure on electricity infrastructure.
That demand is creating opportunities for developers that can combine land, grid access, corporate contracts and project finance at scale.
For renewable energy developers, the rise of hyperscalers and large corporate power buyers is changing the structure of the US market.
Long-term PPAs can provide the revenue certainty needed to support project financing while helping corporate buyers secure additional electricity supply. They can also support corporate climate strategies when renewable generation forms part of broader emissions reduction plans.
For investors and executives, the Skull Creek financing illustrates the link between corporate electricity procurement and new renewable infrastructure.
The transaction also reflects the continued role of bank financing in converting contracted renewable pipelines into operating assets.
As US electricity demand accelerates, access to capital and long-term buyers will remain central to project development. Zelestra’s Texas investment positions the company within that broader expansion, where renewable generation is increasingly tied to energy security, digital infrastructure growth and corporate power demand.
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The ESG News Editorial Team is comprised of veteran financial journalists and sustainability analysts dedicated to providing real-time, objective reporting on global ESG regulations, climate finance, and corporate governance. Our desk monitors daily developments from the SEC, IFRS, CSRD and international regulatory bodies to ensure our 1M+ readers receive accurate, data-driven insights into the evolving sustainable investment landscape. Follow the ESG News Editorial Team for expert reporting on global sustainability standards, ESG disclosures, and climate policy. Access over 10,000 investigative reports and real-time updates.
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