Zelestra will invest 5,000 million euros to quadruple its size

This is an automatic translation of the original release issued in Spanish

PRESS RELEASE from Zelestra (formerly known as Solarpack )
June 26, 2024

Zelestra, a global, multi-technology, customer-oriented renewable energy company, has launched its new brand.

Zelestra leverages multiple energy generation and storage technologies, such as solar, wind, batteries and green hydrogen, to drive the energy transition. Zelestra has evolved from a centralized renewable energy developer to a global, customer-focused platform offering decarbonization solutions. Backed by EQT, one of the largest private equity firms in the world, Zelestra has global capabilities, local expertise and a strong balance sheet to deliver results for its clients.

José Luis García, CEO of LATAM, commented: “We are excited about our new identity and the ambitious objectives we will have in the region. Having an investment commitment of €5 billion between this year and 2026 to expand and become a multi-technology group that can offer wind energy, green hydrogen, batteries and solar energy will allow us to provide more decarbonization solutions.”

For his part, Leo Moreno, CEO of Zelestra, said: "The group aspires to have, within the horizon of its strategic plan, a total of 45 GW of projects with long-term energy sales contracts, of which 8 already "They are contracted and about 5.5 are in operation or construction. Our goal is to quadruple our size by 2026, and we are convinced that Latin America will be a fundamental region to achieve this objective."

Currently, the former Solarpack, with a project portfolio of 20 GW, has two GW under construction or operation and aims to end this 2024 with 2 GW in PPA, of which it currently has 1.5 GW signed. " The company is going to be four times larger than today, and about eight times larger in terms of GW in 2026 than when it was purchased ," Moreno indicated.

“Our new brand represents a key step in the evolution of our company. For us, it is essential to have a brand that not only supports our business strategy, but also stands out in a sector as competitive as renewable energy. Differentiation is vital to remaining relevant and competitive, and we are proud of our new brand, which reflects the unique value we bring as we move towards a zero-carbon future for customers and our planet."

Zelestra is on a mission to make decarbonization a reality. With a key emphasis on innovation and collaboration, the company combines its global reach with deep local market knowledge to deliver decarbonization solutions to its customers and stakeholders. With over two decades of experience working in 13 countries, Zelestra is a trusted partner with proven capabilities to provide efficient, competitive and carbon-free solutions.

As a result of a major transformation, the new brand serves to solidify the company's purpose, beliefs and global growth strategy. Zelestra's strategy focuses on addressing customer needs through jointly created tailored solutions. Zelestra sets its ambitions as high as the stars, positioning itself as the guiding light for its clients to change the world by making their own decarbonization a reality.

About Zelestra

With a portfolio of 20 GW of carbon-free projects in 13 countries, Zelestra is a vertically integrated company specialized in the development, construction, marketing and operation of large-scale renewable energy projects. Zelestra has more than 800 professionals around the world. It is backed by EQT, one of the largest funds in the world, with $232 billion in assets.