{
  "id": 18303628,
  "title": "EQT-backed Zelestra targets $12bn US expansion amid AI energy boom",
  "url": "https://urgent.news/2026/11/05/eqt-backed-zelestra-targets-12bn-us-expansion-amid-ai-energy-boom-18303628",
  "topic": "ai",
  "section": "AI",
  "published": "2026-11-05T09:58:20.000Z",
  "source": {
    "name": "Private Equity Wire",
    "slug": "private-equity-wire",
    "url": "https://privateequitywire.com/news/eqt-backed-zelestra-targets-12bn-us-expansion-amid-ai-energy-boom"
  },
  "original_language": "en",
  "account": "Renowned renewable energy developer Zelestra, backed by EQT, is set to inject €10.5bn into its expansion plans over the next four years, according to a Bloomberg report. The Spanish firm aims to focus its growth in the United States, where it anticipates a surge in electricity demand from the AI sector. Zelestra intends to increase its contracted power portfolio sixfold by 2030, reaching 18 gigawatts, while growing contracted EBITDA by approximately 40% annually to €1.1bn.\n\nThe ambitious expansion will be financed through a mix of €1bn in equity investment and over €9bn in debt, which could include project financing, corporate loans, and bond issuances. Looking ahead, Zelestra's 2026–2030 strategy anticipates the US to contribute around half of its revenues by 2030, up from roughly 20% in 2025. Key customers include Meta Platforms and Tesla, with data centre operators and hyperscalers accounting for nearly half of the power contracted by the company last year.\n\nEQT acquired Zelestra, previously known as Solarpack, in 2021 and subsequently took it private. The investment plans have raised speculation about EQT's potential strategic options for the business, including a possible sale or the establishment of a continuation fund. Private equity firms are facing increasing difficulties in exiting large renewable energy investments, making Zelestra's expansion an intriguing development in the industry.",
  "summary": "EQT-owned renewable energy developer Zelestra is planning to invest €10.5bn over the next four years as it shifts its expansion strategy towards the US to capitalise on surging electricity demand from artificial intelligence infrastructure, according to a report by Bloomberg. The Spanish company reportedly aims to increase its contracted power portfolio sixfold to 18 gigawatts by 2030, while…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Private Equity Wire",
        "title": "EQT-backed Zelestra targets $12bn US expansion amid AI energy boom",
        "url": "https://urgent.news/2026/11/05/eqt-backed-zelestra-targets-12bn-us-expansion-amid-ai-energy-boom",
        "published": "2026-11-05T09:58:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}