Zelestra Secures $60 Million Tax Equity Funding for Jasper County Solar Project, Strengthening U.S. Renewable Energy Portfolio
Zelestra, a global renewable energy company known for its multi-technology approach and customer-centric focus, has announced the successful closure of a $60 million U.S. tax equity investment with Stonehenge Capital for the 81 MWdc (60 MWac) Jasper County Solar Project in Indiana. The milestone marks another major step forward for Zelestra’s rapidly expanding U.S. renewable portfolio and underscores investor confidence in the company’s strategy to deliver sustainable energy solutions to large-scale corporate clients.
Located in Jasper County, Indiana, the project represents an important collaboration between Zelestra and Meta, the parent company of Facebook and Instagram. The two companies have a long-term environmental attributes purchase agreement (EAPA) in place for the Jasper County project—one of six such agreements they currently share across the United States. Once completed and fully operational in the fourth quarter of 2025, the Jasper County Solar Project will supply clean, reliable energy to support Meta’s sustainability goals, including its ongoing efforts to power global operations with 100% renewable energy.
This latest transaction builds on Zelestra’s earlier success in securing $113 million in project financing for the Jasper County Solar Project from Banco Santander, announced in April 2025. Combined, the tax equity and project financing mark the completion of a comprehensive financial package designed to advance the project toward commercial operation.
Strengthening Financial Partnerships in Renewable Energy
Zelestra’s U.S. Chief Financial Officer, Sybil Milo Cioffi, expressed enthusiasm about the collaboration, emphasizing that the transaction validates Zelestra’s credibility and strategic approach within the renewable energy finance sector.
“We’re delighted to partner with Stonehenge Capital, a leading provider of tax equity in the U.S., which underscores the financial community’s strong confidence in Zelestra,” said Cioffi. “This marks another significant milestone in our commitment to deliver projects that meet our clients’ needs. We look forward to celebrating the completion of Jasper later this year, and to advancing our 1 GW of fully contracted projects now moving toward construction and expected to be operational in the next two years.”
Tax equity financing continues to play a crucial role in the development of renewable projects across the United States, particularly under the Investment Tax Credit (ITC) framework, which allows investors like Stonehenge Capital to support clean energy projects while offsetting federal tax liabilities. By combining this equity funding with long-term debt from a global banking institution like Banco Santander, Zelestra has positioned itself for both financial stability and operational success.
Stonehenge Capital’s Senior Managing Director, Whitney LaNasa, highlighted the company’s enthusiasm for participating in a project that reflects both environmental and economic value.
“The collaboration with Zelestra exemplifies Stonehenge Capital’s focus on supporting energy infrastructure throughout the nation,” said LaNasa. “We look forward to working alongside Zelestra, a distinguished name in global energy, to bring this project to operations.”
Accelerating the Energy Transition Across the U.S.
The Jasper County Solar Project aligns with broader trends in the U.S. clean energy transition, as corporations and utilities accelerate the deployment of renewable assets to meet decarbonization and sustainability targets. Zelestra’s partnership with Meta demonstrates how energy producers and major corporate offtakers can work together to enable large-scale clean power generation while supporting local economic growth through job creation and investment in rural areas.
Once operational, the project is expected to generate enough clean electricity to power approximately 15,000 homes annually, while reducing carbon dioxide emissions by tens of thousands of metric tons each year. Beyond environmental benefits, the project is also expected to deliver tangible economic impacts for Jasper County, including construction jobs, local tax revenue, and opportunities for suppliers within Indiana’s growing clean energy ecosystem.
Building a 10 GW Global Renewable Portfolio
Headquartered in Arlington, Virginia, Zelestra is expanding aggressively across North America, Europe, and other strategic markets. The company’s portfolio now exceeds 10 gigawatts (GW) of renewable energy projects in development, encompassing solar, wind, battery storage, and hybrid clean energy solutions. These initiatives are designed to address the growing needs of hyperscale data center operators, industrial clients, and Fortune 500 corporations seeking reliable and sustainable energy sources.
Zelestra’s project pipeline reflects its focus on customized, multi-technology solutions, offering flexibility and scalability for clients seeking to reduce carbon footprints and manage energy costs in a dynamic market. By aligning technical innovation with financial ingenuity, Zelestra continues to position itself as a key enabler in the global energy transition.
Recognition as a Global Leader in Corporate Clean Energy Supply
Zelestra’s leadership in the corporate renewable energy sector was recently validated when it was ranked among the top 10 sellers of clean energy to corporate customers worldwide, according to BloombergNEF’s (BNEF) latest report. This ranking highlights Zelestra’s role as a major driver of corporate power purchase agreements (PPAs) and environmental attribute contracts—key mechanisms that enable companies like Meta, Amazon, and others to achieve renewable energy goals.
The company’s success also reflects the increasing demand for scalable, sustainable energy solutions in a market undergoing rapid transformation. As businesses pursue net-zero targets, developers capable of integrating advanced technologies, efficient financing structures, and long-term reliability—such as Zelestra—are positioned to lead the next phase of energy infrastructure growth.
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