Tesla and Zelestra have signed a power purchase agreement under which Tesla will buy the entire output of the 140 MWac Lumen Farm solar project in northeast Texas. Construction is anticipated to begin in 2027, with full operations expected by 2029. The deal extends a global relationship between the two companies that began in 2024, when Zelestra signed a 57 MWac PPA with Tesla covering the output of the Brazatortas I, II and IV solar plants in Spain's Castilla-La Mancha region.
Under the agreement, Tesla will take the entire generation output of the Texas plant rather than a partial share, giving the company a dedicated source of solar power tied specifically to a single project rather than a blended supply drawn from multiple sources. That structure gives Tesla a direct claim to the environmental attributes of the plant's full output, supporting its stated energy needs in Texas as the company continues expanding its operations in the state.
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Zelestra's US chief executive Phil North described the Texas agreement as expanding a global relationship that has already spanned Spain, framing the company's ability to deliver tailored energy solutions across multiple geographies as central to why the partnership has grown to include a second market. Zelestra said it aims to bring the Lumen Farm project online as quickly as possible to support Tesla's growing energy needs in the state.
The agreement forms part of Zelestra's broader push into the US renewable energy market, where the company is developing a portfolio exceeding 16 gigawatts of projects aimed at hyperscalers, corporate partners and other large energy customers. Zelestra was recently ranked by BloombergNEF among the top ten sellers of clean energy to corporate customers both globally and in the United States, and is backed by EQT, a global investment firm managing more than €269 billion in assets.
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Daniel Dun
Senior Advisor
Daniel is a finance professional with experience across commodities trading, investment banking, and private credit, having worked with firms like Glencore and BTG Pactual across global markets. He has worked on carbon offset products and project finance, with a focus on sustainability and capital markets. He has also supported product management at BlockFi, helping bridge DeFi and traditional finance. Daniel holds a Master’s degree in Economics.
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