Zelestra has closed $350 million in green financing credit facilities for its 203 MW Reclamation Solar project in Gibson County, Indiana, taking the renewable energy company’s U.S. project financing raised during 2026 to $1.14 billion.
The financing was provided by Canadian Imperial Bank of Commerce, BBVA and Société Générale, with CIBC serving as Left-Lead Arranger.
Zelestra said the more than $1 billion raised this year is supporting over 800 MW of new solar capacity currently entering construction for customers across the United States.
Reclamation Solar is backed by a long-term power purchase agreement with Meta and is expected to begin operations by the end of 2027.
The project is already under construction and is expected to support approximately 200 jobs at the peak of construction.
Reclamation takes its name from the land where it is being developed, which was reclaimed from former coal mining operations in southwest Indiana.
The financing represents another expansion of Zelestra’s U.S. platform as the company develops renewable energy projects designed around growing electricity demand from hyperscalers and other corporate customers.
Headquartered in Arlington, Virginia, Zelestra currently has a development pipeline of approximately 16 GW across major U.S. markets.
KEY QUOTES:
“Passing $1 billion in US project financing this year is a milestone we are pleased to share with our lenders and our customers. Reclamation is a major project that will deliver many benefits to our customer, and to the wider community. We are pleased that CIBC, BBVA and Societe Generale are backing our ambition. These partnerships enable us to keep building at the pace this market needs.”
Sybil Milo Cioffi, U.S. CFO of Zelestra
“CIBC is pleased to have served as Left-Lead Arranger on the financing of Reclamation Solar and to support Zelestra on this important project. The transaction demonstrates our ability to deliver financing solutions for large-scale renewable energy projects and support growing power demand across the US.”
Ines Serrao, Head of U.S. Project Finance & Infrastructure at CIBC
