Zelestra bags $146.67m financing for Indian solar plant

This will power over 128,000 homes.

Spain’s Zelestra has secured a $146.67m (EUR132m) financing package for its 435-megawatt Gorbea solar photovoltaic plant in India.

In a statement, the company said the financing has been signed with HSBC, Credit Agricole, MUFG and Bank of America. This was designated as green financing under Zelestra’s Green Financing Framework, aligning with the Green Loan Principles issued by the Loan Market Association.

The deal has been advised by Catalyst Trusteeship (Facility Agent & Security Trustee), TUV Rheinland (Lender’s Technical Advisor), Cyril Amarchand Mangaldas (Lender’s Legal Counsel), Luthra & Luthra (Borrower’s Legal Counsel), Indian Insure (Lender’s Insurance Advisor) and AECOM (Environmental & Social Advisor).

Located in the Rajasthan state, the Gorbea solar plant is expected to generate energy for more than 128,000 households. It is seen to eliminate approximately 13.3 million tonnes of carbon over its lifetime.

Zelestra will supply power for the next 25 years to the Solar Energy Corporation of India.

Currently, Zelestra India has 1.5 gigawatts of projects in operation, construction, signed, or awarded, with a total portfolio of close to five gigawatts.

$1 = EUR0.90

Follow the link for more news on

India renewables capacity

Also Read

GPSC bags $216.85m loan for clean energy investments

ADB approves $500-m loan to boost Indonesia’s energy transition

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit