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Doral Energy Invests $738 Million to Gain Majority Control of U.S. Subsidiary
Israeli renewable energy firm Doral Energy is investing $738 million to increase its stake in its U.S. subsidiary, Doral LLC, from 26% to 53.2%, gaining majority control.
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What happened
- 01Doral Energy invests $738 million to raise its stake in U.S. subsidiary Doral LLC to 53.2%.
- 02The deal values Doral LLC at about $4.1 billion, more than double its previous valuation.
- 03Doral LLC holds 7.9 GW of projects and 2.5 GWh storage, mostly qualifying for U.S. tax incentives.
- 04The investment aims to connect projects to the grid by 2029 and complete by 2030.
- 05The transaction likely postpones Doral LLC's planned IPO, simplifying ownership structure.
- 06U.S. solar panel import restrictions may raise project costs by 10%, but Doral is largely protected.
The deal, involving capital injections and share purchases, values Doral LLC at about $4.1 billion and aims to accelerate project development with grid connections by 2029. This strategic move likely delays a planned IPO but strengthens Doral's position in the U.S. market.
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