The capital injection bolsters the company’s ongoing efforts to scale its project pipeline, which currently includes 17 gigawatts of solar and storage assets. By securing these funds, the firm aims to ensure its infrastructure meets Safe Harbor requirements, effectively increasing the total megawatts brought into service across its 16-state operational footprint.
In section Releases
Doral Renewables Secures $400 Million to Expand Solar Infrastructure
Philadelphia-based developer Doral Renewables has secured a $400 million common equity investment from its parent company, Doral Group, to accelerate the deployment of utility-scale solar and battery storage projects across the United States and meet critical construction timelines.
In a related move, Clean Air Generation LLC, controlled by Doral Renewables CEO Nicholas Cohen, has exchanged its ownership interests for a combination of cash and Doral Group stock. Despite the restructuring, Cohen remains at the helm as President and CEO, maintaining his position on the Board of Directors. Cohen emphasized that the investment validates the company's strategy of integrating agrivoltaics, which allows solar projects to coexist with active farming operations, thereby securing stronger community cooperation and project viability.
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