The green financing package has been agreed with Natixis Corporate and Investment Banking (Natixis CIB) and BBVA Perú. Babilonia is part of the La Joya complex in Arequipa, Perú, which will have a total capacity of nearly 700 MW

• The green financing package has been agreed with Natixis Corporate and Investment Banking (Natixis CIB) and BBVA Perú.
• Babilonia is part of the La Joya complex in Arequipa, Perú, which will have a total capacity of nearly 700 MW.
• The project was enabled by a long-term PPA with leading Peruvian electricity company, Celepsa.

Zelestra, a global, multi-technology, customer-focused renewable energy company, has successfully achieved Financial Close of the 242 MWdc Babilonia solar project in Perú, through a $176 million project green financing package agreed with Natixis CIB and BBVA Perú.

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 project was enabled by a long-term power purchase agreement with Celepsa, a leading company in the Peruvian electricity sector.

Delivery of the Babilonia, which started construction last month, is being led by Zelestra’s internal EPC (Engineering, Procurement and Construction) division. The project will support more than 500 direct jobs during construction, and it will produce enough clean energy to supply approximately 350,000 Peruvian homes when operational.

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.”

Zelestra is a leading renewable energy player in Perú, with 600MW of projects in operation or construction, and a pipeline for growth of more than 1.5GW.

KeyFacts Energy Industry Directory: Zelestra