Zelestra Achieves Financial Close for 242 MWdc Solar Project in Peru with USD 176 Million Green Financing
Zelestra has announced that the company has achieved financial close for its 242 MWdc Babilonia solar project in Peru, securing a USD 176 million green financing package from Natixis Corporate and Investment Banking and BBVA Perú.
March 06, 2026. By Mrinmoy Dey
Babilonia consolidates Zelestra’s 16-year presence in the country and forms part of the La Joya solar complex in Arequipa, which will have a total planned capacity of nearly 700 MW. This includes Zelestra’s operational 300 MW San Martín plant and the 125 MW San Joaquin project, which is in advanced development, the company stated.
The project was enabled by a long-term power purchase agreement with Celepsa, it said. Delivery of the Babilonia, which started construction last month, is being led by Zelestra’s internal EPC (Engineering, Procurement and Construction) division.
Commenting on the development, Xavier Puig, CFO of Zelestra, said, “The green financing package for Babilonia is a significant transaction for Zelestra. This agreement reaffirms the confidence that major global financial partners have in our customer-first strategy and our project execution capabilities in multiple markets. Our internal EPC division recently kicked off the construction programme, and we look forward to delivering the energy on time for our customer Celepsa.”
In Peru, Zelestra has 600 MW of projects in operation or construction, and a pipeline for growth of more than 1.5 GW, the company stated.
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