Doral Renewables Secures Debt Financing and Executes Construction Contracts for the Remaining Phases of the Mammoth Solar Project

Doral Renewables LLC (“Doral Renewables”) announced the successful close of a project debt financing package to support initial construction of the remaining phases of its Mammoth Solar complex located in Northern Indiana. KeyBanc Capital Markets acted as Coordinating Lead Arranger and Administrative Agent, and HSBC and Santander Corporate & Investment Banking acted as Joint Lead Arrangers for the $285 million financing, which consists of a $200 million construction loan facility and $85 million of additional support via letters of credit. Simultaneously with this financing, the projects entered into Engineering, Procurement and Construction (EPC) Agreements with Bechtel, an American construction company that is one of the largest in the world.