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Spain's Zelestra Enters 140 MW PPA With Tesla, Secures $181 Million Financing

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Spanish renewable energy developer Zelestra has entered into a power purchase agreement to supply Tesla (TSLA) with 140 megawatts of electricity from its Lumen Farm solar project in Texas, it said in a statement on Tuesday.

Zelestra expects to start construction at Lumen Farm in northeast Texas by 2027 with operation by 2029, it said.

The company already has a 57 MW power purchase agreement with Tesla for the output from its Brazatortas solar plants in Spain.

Zelestra has a portfolio under development that totals more than 16 gigawatts of renewable power.

Moreover, the company said Wednesday that it had secured $181 million in green project financing for its 176 MW Skull Creek solar farm in Anderson County, Texas, which is supported by a power purchase agreement with social media giant Meta.

Zelestra secured the financing facility through Natixis Corporate and Investment Banking, it said.

The under-construction Skull Creek project is expected to begin generation by the end of 2027.

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