Doral Renewables Secures Debt Financing and Executes Construction Contracts for the Remaining Phases of the Mammoth Solar Project
Summary
Each of the Mammoth Solar project sections have secured Power Purchase Agreements (PPA) with leading investor-owned utilities via which the project will generate long-term energy and renewable energy certificate revenues.Mammoth Solar is also at the center of Doral Renewables agrivoltaics initiatives, which include integrating on-site livestock grazing and crop cultivation, allowing local farmers to continue their farming operations, maximizing land use, and generating additional value. In recognition of these efforts, the Mammoth Solar project was named the Dual Use Plan of the Year at the inaugural North American Agrivoltaics Awards in July. Mammoth Solar will be the largest standalone solar portfolio in the U.S., and we are thrilled to serve as coordinating lead arranger for this credit facility to help accelerate the assets construction, said Nadav Hazan, Vice President, KeyBanc Capital Markets, Utilities, Power & Renewable Energy Group.The Mammoth Solar Project not only marks a significant milestone in Dorals journey but also represents a major opportunity for Pulaski County by creating hundreds of jobs during construction, contributing to the economic and environmental well-being of the region, said Amit Nadkarni, Doral Renewables SVP, Project and Asset Management. Bechtel brings an unparalleled level of expertise to the table, and their culture of delivering high-quality EPC services makes them the ideal partner for this ambitious project. Differentiated by the quality of our people and our relentless drive to deliver the most successful outcomes, we align our capabilities to our customers objectives to create a lasting positive impact.