Business
Doral Renewables Secures $1.5 Billion of Debt and Tax Equity Financing for the Completion of Mammoth Solar
Doral Renewables LLC ("Doral") has successfully closed construction project financing for the Mammoth South, Mammoth Central I, and Mammoth Central II solar projects in Pulaski County, Indiana. The three projects, each with a generation capacity of 300 MWac, are part of the broader 1.3 GW Mammoth Solar facility. Mammoth Solar will generate enough energy to power approximately 275,000 households annually.
About this update from Apollo Global Management, Inc. (new)
[{"type":"text","content":"PHILADELPHIA, May 19, 2025 /PRNewswire/ -- Doral Renewables LLC ("Doral") has successfully closed construction project financing for the Mammoth South, Mammoth Central I, and Mammoth Central II solar projects in Pulaski County, Indiana. The three projects, each with a generation capacity of 300 MWac, are part of the broader 1.3 GW Mammoth Solar facility. Mammoth Solar will generate enough energy to power approximately 275,000 households annually.","length":470,"tagName":"p"},{"type":"image","alt":"Doral Renewables","displaySize":"","headline":null,"caption":"Doral Renewables","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":200,"url":"https://media.zenfs.com/en/prnewswire.com/fc6d42689d47acae2f9b1030612e29b8"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/XFlqRAh5p0nrDsvzufc4YA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTM1MztjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/fc6d42689d47acae2f9b1030612e29b8","width":400,"height":200}},"href":"https://mma.prnewswire.com/media/2690292/Doral_Renewables_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"The Mammoth South, Central I, and Central II projects will all be ground-mounted single-axis PV systems utilizing approximately 20,000 tons of Indiana steel in aggregate and boosting Indiana's economy with tens of millions of dollars in economic value impacts. The projects will also utilize over 1 million US-made solar modules. Upon the completion of the three projects, Doral Renewables plans to expand its large-scale dual-use practices, known as agrivoltaics, inside the projects' area, allowing farmers to return to heritage farming activities such as livestock grazing and food production. Each of the three projects maintains long-term Power Purchase Agreements with leading utilities and is expected to reach commercial operations in the 4th quarter of 2026. Doral's existing and planned agrivoltaics efforts for Mammoth Solar were recognized as the "Dual-Use Plan of the Year" at last year's North American Agrivoltaics Awards.","length":963,"tagName":"p"},{"type":"text","content":"KeyBanc Capital Markets, Inc., Banco Santander, S.A., and HSBC Bank USA, N.A acted as Coordinated Lead Arrangers for the $1.3 billion construction debt financing for the projects, which consisted of $412 mi...