Doral: Land agreements for the construction of 800 megawatts projects – the capital market

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It reports that subsidiary (50.1%) Doral Global, has signed a series of land lease agreements in Illinois and Pennsylvania. This is part of its ambition to build photovoltaic facilities with a combined volume of about 800 megawatts, and a total investment of about $ 650 million.

According to the company’s announcement, the subsidiary has signed land lease agreements in Illinois, USA. The land, which covers approximately 10,000 dunams, the land, is expected to be used by the company for the construction of photovoltaic projects with an estimated aggregate capacity of approximately 690 megawatts (DC). ).

In addition, the Company announced that during the first quarter of 2021, the subsidiary (Doral Global) entered into four additional agreements with landowners in Pennsylvania, USA, in a cumulative area of ​​approximately 3,660 acres, which the Company estimates will be used for the construction of photovoltaic projects with an estimated aggregate capacity. Of about 104 megawatts (DC).

As part of the process of developing the said projects, in the near future the projects will be submitted to PJM for the purpose of obtaining a connection connection to the network. The company estimates that the volume of investment in the projects will be about $ 650 million.

Yaki Neumann, CEO of the Doral Group: “We are working hard to increase the group’s project backlog in line with the growth strategy we have set for ourselves as we see the US as a key and strategic target for expanding operations. Doral brings partnerships the knowledge, experience, business and professional relationships accumulated in the company in establishing photovoltaic projects in combination with the high entrepreneurial capabilities of US partners that make us a dominant player in the field.