Renewable energy developer Zelestra has closed $350 million in green financing credit facilities for its 203 MW Reclamation Solar project in Gibson County, Indiana, taking the company’s total project financing raised in the United States during 2026 to $1.14 billion.
The financing secured this year is supporting the construction of more than 800 MW of new solar capacity for Zelestra’s customers across the United States.
The Reclamation Solar financing was provided by Canadian Imperial Bank of Commerce (CIBC), BBVA and Societe Generale, with CIBC serving as Left-Lead Arranger.
The project is backed by a long-term Power Purchase Agreement (PPA) with Meta and is scheduled to begin commercial operations by the end of 2027.
Reclamation Solar is being developed on land reclaimed from former coal mining operations in southwest Indiana. Construction is already underway, with the project expected to support approximately 200 jobs during peak construction activity.
Sybil Milo Cioffi, U.S. CFO at Zelestra, said surpassing $1 billion in U.S. project financing during the year represents an important milestone for the company and highlighted the role of its financing partners in supporting the continued development of renewable energy projects.
Ines Serrao, Head of U.S. Project Finance & Infrastructure at CIBC, said the financing demonstrates the bank’s ability to support large-scale renewable energy projects and growing electricity demand across the United States.
Zelestra is also expanding its U.S. platform with multi-technology energy solutions aimed at meeting the increasing power requirements of hyperscalers and corporate customers.
Headquartered in Arlington, Virginia, the company currently has a development pipeline of approximately 16 GW across key U.S. markets.
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