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    Doral Secures Financing For 400MW Portion Of 1.3GW Solar PV Project In Indiana, US


    June 15, 2022 - Fitch Solutions Sector Intelligence

     

      THIS COMMENTARY IS PUBLISHED BY FITCH SOLUTIONS COUNTRY RISK & INDUSTRY RESEARCH and is NOT a comment on Fitch Ratings' Credit Ratings. Any comments or data are solely derived from Fitch Solutions Country Risk & Industry Research and independent sources. Fitch Ratings analysts do not share data or information with Fitch Solutions Country Risk & Industry Research.

      Doral Secures Financing For 400MW Portion Of 1.3GW Solar PV Project In Indiana, US

      • 15 Jun 2022
      • United States
      • Infrastructure

      News: Doral Renewables has secured financing for the construction of the 400MW first phase of the 1.3GW Mammoth Solar photovoltaic (PV) project in the US state of Indiana. Deutsche Bank (New York branch) arranged a USD392mn financing package, which comprised a USD157mn construction-to-term loan facility, a USD170mn tax equity bridge loan and a USD65mn letter of credit facility. Bank of America also signed a USD175mn tax equity commitment for the project, with Marathon Capital Markets serving as Doral's exclusive financial advisor. According to Doral, Mammoth North is likely to start commercial operation in 2023 (Renewables Now).

      This report from Fitch Solutions Country Risk & Industry Research is a product of Fitch Solutions Group Ltd, UK Company registration number 08789939 ('FSG'). FSG is an affiliate of Fitch Ratings Inc. ('Fitch Ratings'). FSG is solely responsible for the content of this report, without any input from Fitch Ratings.

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