Zelestra has acquired the Skull Creek solar project in the US from hep Peak Clean Energy, a subsidiary of hep global GmbH. While the transaction date has not been disclosed, the deal is tracked from 4-Feb-2026, when Zelestra announced a long-term PPA with Meta tied to the asset.

The key point is timing. The project is still in late-stage development, with construction planned to begin in 2026 and commercial operations expected by May-2027. Yet ownership has already shifted, anchored by a hyperscaler PPA rather than a notice-to-proceed milestone.

Skull Creek is a 176 MWdc / 136 MWac utility-scale solar project located in Anderson County, Texas, spanning 850+ acres. It sits within ERCOT and benefits from defined transmission infrastructure, including a 138 kV line connecting Tennessee Colony (3281) to Blackfoot Massey Lake Switch (3499), tapped at the Pin Oak Switch – Long Lake Substation.

Commercially, this deal signals that buyers are underwriting contracted revenue first and construction risk second. Securing a long-term offtaker like Meta materially reduces merchant exposure in ERCOT, making late-stage assets tradeable even before ground is broken.

For developers, this reinforces a clear path to liquidity: advance interconnection and land, then lock in corporate offtake. For buyers, it shows growing comfort acquiring projects pre-construction when the counterparty credit is strong and the delivery timeline is defined.

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