Doral Expands US Holdings and Raises 2027 Revenue Forecast to NIS 1.95 Billion
Doral reported accelerated growth in its US operations during the second quarter of 2026, increasing its project backlog and raising its revenue forecast for 2027 to approximately NIS 1.95 billion. The renewable energy company boosted its stake in its American subsidiary, Doral LLC, to about 53.2% by investing around $400 million, including $180 million used to repay a loan from Apollo Fund. This transaction enhanced Doral's share in the US business and its future cash flow from these operations.
In the same quarter, Doral completed the Indiana project, bringing its connected projects to roughly 3 gigawatts (GW) of generation capacity and 1.7 gigawatt-hours (GWh) of storage. The company’s mature project backlog grew by about 440 megawatts (MW) of generation and 1.5 GWh of storage, reaching totals of approximately 10.4 GW generation and 8.6 GWh storage capacity.
Alongside renewable energy, Doral is expanding into energy infrastructure for server farms and data centers, driven by surging electricity demand from artificial intelligence infrastructure. In Israel, the company secured a commitment to connect 96 MW for a data center project in Har-Tuv, potentially reaching an IT capacity of 74 MW. This project advanced amid a significant rise in demand for data center connections nationwide. Last month, the Electricity Authority, through Noga, froze new connection requests for server farms for 140 days after accumulated requests reached about 27,000 MW, roughly triple Israel’s average electricity consumption.
Additionally, Doral completed acquiring control of Zephyros, an operator in Europe, expanding its European backlog to about 2.6 GW generation and 800 MW storage. The company’s equity increased by approximately NIS 1.7 billion during the quarter, following a June share offering that raised over NIS 920 million. Doral CEO Yoni Hantsis stated, "We completed significant strategic moves this quarter that strengthen the group’s operations and expand its growth base for the coming years."
