Zelestra has secured a $600 million green financing credit facility with Société Générale and HSBC to support two solar projects in Texas, Echols Grove and Cedar Range, with a combined capacity of about 440 MW. The company said both projects are backed by long-term power purchase agreements with Meta and are already under construction, making the financing a significant step in moving some of its largest U.S. assets toward delivery.

The transaction is important because it highlights the role that long-term corporate offtake is continuing to play in unlocking large-scale renewable investment in the United States. In this case, the financing is not supporting speculative development. It is backing contracted projects with a major technology buyer, which helps reduce revenue uncertainty and makes large debt packages more achievable in a market where capital discipline remains important. This is an inference based on the announced PPAs, the lender group, and the projects’ current construction status.

Meta’s Contracted Demand Continues to Shape Renewable Buildout

The two projects form part of a broader relationship between Zelestra and Meta. Zelestra said the two companies now have power purchase agreements across seven projects totaling 1.2 GW, supporting Meta’s effort to add new clean generation to the grid and continue matching its operations with renewable electricity.

That matters because hyperscale technology companies are becoming some of the most important drivers of new renewable project development, especially in regions like Texas where power demand growth, data infrastructure expansion, and competitive electricity markets are converging. Meta’s role here is not just as a buyer of clean power attributes. It is helping create the long-duration revenue certainty needed to move large solar projects from pipeline to construction. This is an inference grounded in the scale of the PPAs and the financing structure announced by Zelestra.

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Texas Remains a Key Market for Large-Scale Corporate Renewables

The projects are located in Texas, one of the most active renewable development markets in the United States. Zelestra described the deal as supporting its largest U.S. solar projects to date, while also reinforcing its broader growth platform in the country. The company said it has a development portfolio of around 15 GW across key markets and was ranked by BloombergNEF in February 2026 as one of the top 10 sellers of PPAs to corporate customers in the U.S.

This is significant because it shows Zelestra is not approaching the U.S. as a limited or opportunistic market. It is building a larger corporate-facing renewable platform aimed at hyperscalers and other major power buyers. In a market where corporate procurement is increasingly shaping what gets financed and built, a company’s ability to secure repeat offtake from large customers can become a competitive advantage in itself. This is an inference based on Zelestra’s U.S. portfolio scale and repeated contracting with Meta.

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The Deal Signals Strong Lender Confidence in Contracted Solar Assets

For Zelestra, the financing also sends a clear message about lender confidence. The company said the facility reflects trust in both its strategy and execution capability. That is a meaningful point in the current market, where access to large pools of project finance still depends heavily on contract strength, project readiness, sponsor credibility, and the perceived reliability of underlying cash flows.

The larger takeaway is that high-quality solar projects with strong corporate offtake continue to attract institutional and bank capital even as clean energy financing has become more selective. Zelestra’s financing package shows that well-structured, utility-scale projects in strong power markets can still secure sizeable green debt support when the commercial foundations are clear. This is an inference based on the announced lender group, the project stage, and the Meta-backed revenue structure.

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