Renewable energy developer Zelestra has secured $350 million in green financing for its 203 MW Reclamation Solar project in Gibson County, Indiana.

Canadian Imperial Bank of Commerce (CIBC), BBVA, and Societe Generale provided the financing.

The project is backed by a long-term power purchase agreement with Meta and is expected to become operational by the end of 2027. The Reclamation Solar project is under construction on land previously used for coal mining operations in southwestern Indiana. It is expected to support approximately 200 jobs during peak construction.

Sybil Milo Cioffi, Zelestra’s US CFO, said: “Passing $1 billion in U.S. 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.”

With this transaction, Zelestra’s total project financing raised in the U.S. in 2026 has reached $1.14 billion. According to the company, the financing will support the construction of more than 800 MW of new solar capacity across the country.

In August 2026, the company closed $181 million in green project financing for its 136 MW Skull Creek solar project in Anderson County, Texas, which is under construction and is expected to begin commercial operations by the end of 2027.

Zelestra also secured a $600 million green financing credit facility in March with Société Générale and HSBC for the 252 MW Echols Gove project in Lamar County and the 187 MW Cedar Range solar project in Hopkins County in Texas.

Zelestra is expanding its U.S. operations to meet growing demand for renewable energy from hyperscalers and corporate customers. Headquartered in Arlington, Virginia, the company has a development pipeline of approximately 16 GW across major U.S. markets.

Announced large-scale solar project funding increased by 71% in the first half of 2026 compared with the funding raised in the same period in 2025, according to Mercom’s recently released 1H and Q2 2026 Solar Funding and M&A report.