Doral Renewables Secures $525 Million of Surety-Backed Letter of Credit Financing

Doral Renewables announced that it has secured approximately $525 million of innovatively structured cross-border Letter of Credit facilities to support the continued growth of the company.

The first transaction is an approximately $385 million Deferred Equity Contribution Guarantee (“DECG”) Facility, and the second arrangement is an approximately $140 million All Purpose Guarantee (“APGF”) Facility. The Company and the participating underwriters expect over time to upsize both facilities to support further growth.