Zelestra Secures $282.5 Million Green Financing for Aurora Project
Deal News | Jul 07, 2025 | Iberian Lawyer
Clifford Chance has provided advisory services to Zelestra on its $282.5 million green financing initiative tailored for the Aurora project, a unique solar photovoltaic hybrid plant with an integrated Battery Energy Storage System (BESS). Located in Pozo Almonte, Tarapacá Region, Chile, the project is poised to become one of the largest energy storage schemes in Latin America. The financing collaboration involved Natixis Corporate and Investment Banking (Natixis CIB) and BNP Paribas, alongside a VAT facility extended by BCI. The Aurora project is distinguished as Zelestra's largest financing endeavor and inaugural multi-technology venture. Its design aims to facilitate solar energy delivery to the Chilean firm Abastible, even during nighttime, through a long-term Power Purchase Agreement (PPA), contributing about 600 GWh of renewable energy annually, thereby serving 200,000 Chilean households and enhancing the nation's decarbonization efforts. The advisory team at Clifford Chance was spearheaded by Global Financial Markets partner José Guardo, with a host of other legal experts offering support from various international offices.
Sectors
- Renewable Energy
- Financial Services
- Legal Services
Geography
- Chile – The Aurora project is located in Pozo Almonte, Tarapacá Region, which is significant for impacting the local energy landscape.
- Spain – Clifford Chance's advising team included experts from the firm's Spanish office, underlining the multinational collaboration.
- United States – Partners from the Washington D.C. and New York offices of Clifford Chance contributed, showcasing the global nature of the firm's operations.
Industry
- Renewable Energy – The construction and development of the Aurora solar photovoltaic plant with battery energy storage falls under the renewable energy industry, focusing on sustainable power solutions.
- Financial Services – The involvement of Natixis Corporate and Investment Banking, BNP Paribas, and BCI characterizes the financial services aspect through arranging significant project financing.
- Legal Services – Clifford Chance’s advisory role involves legal services crucial for structuring green financing deals.
Financials
- $282.5 million – The total amount of green financing secured for the Aurora project.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Zelestra | Target Company | Company | Zelestra is developing the Aurora hybrid solar project in Chile. |
| Clifford Chance | Legal Advisor | Company | An international law firm that advised Zelestra on its $282.5 million financing. |
| Natixis CIB | Arranger | Company | A corporate and investment banking firm that arranged the financing. |
| BNP Paribas | Arranger | Company | A leading bank involved in arranging the financing. |
| BCI | VAT Facility Provider | Company | Provided a VAT facility as part of the financing package. |
| José Guardo | Global Financial Markets Partner | Person | Led the advisory team for Clifford Chance. |
| Abastible | Energy Offtaker | Company | The Chilean company purchasing energy through a PPA. |