Zelestra secures $176M green project financing for 242 MWdc Babilonia solar project in Perú
Type: Financing · Technology: Solar · Country: Perú · Capacity: 242 MWdc · Value: $176M · Announced: 2026-03-06
Zelestra reached financial close on the 242 MWdc Babilonia solar project in Perú, securing a $176 million green project financing package from Natixis Corporate and Investment Banking and BBVA Perú.
Analysis
Zelestra secured $176 million in green project financing for its 242 MWdc Babilonia solar project in Perú, a substantial capital injection for a single renewable asset. This financing package, structured as project finance, enables Zelestra, a clean energy solutions provider, to advance its mission of decarbonizing partners' operations through solar technology. The $176 million commitment for the 242 MWdc capacity implies an investment cost of approximately $727,273 per megawatt direct current, reflecting the scale and capital intensity of utility-scale solar development in Perú. This green financing structure likely provides Zelestra with favorable terms, aligning the project with increasing investor demand for sustainable assets. Natixis Corporate and Investment Banking, a leading global project finance provider, reinforces its active presence in the energy sector by co-leading this financing for the Babilonia solar project. Their involvement aligns with Natixis CIB’s established track record in infrastructure and energy across various geographies. BBVA, a global financial services group, also participated as a lender, demonstrating its commitment to sustainable business and cleantech initiatives by supporting this 242 MWdc solar development in Perú. For Zelestra, this successful financial close on the Babilonia project in Perú expands its portfolio of solar, battery energy storage, wind, and hydrogen projects, further solidifying its role in clean energy provision. The collaboration between these two prominent lenders for a Peruvian solar asset highlights international financial institutions' continued appetite for Latin American renewable energy projects.
Key points
- $176 million green project financing secured for the Babilonia solar project.
- 242 MWdc solar capacity for the project located in Perú.
- Zelestra is the developer of the Babilonia solar project.
- Natixis Corporate and Investment Banking and BBVA Perú provided the financing.
- The implied investment cost is approximately $727,273 per MWdc.
Counterparties
- BBVA (Lender)
- Zelestra (Developer)
- Natixis Corporate and Investment Banking (Lender)