Dural dune project.
The company raised more than a billion shekels for new projects of integrated solar installations with storage (photo: courtesy of Doral)
The Doral Group reports today on financial closure for the financing of a cluster of integrated solar projects, the cost of which is estimated at NIS 675 million.
The consortium of lenders, led by Bank Mizrahi, also includes the insurance companies Clal and Menorah, which will together provide financing in a total amount of over NIS 1 billion.
The financing agreement includes the raising of senior debt in the amount of approximately NIS 575 million, a bridging framework for senior debt in the amount of up to NIS 300 million, as well as additional frameworks in the aggregate amount of approximately NIS 175 million (including a bridging framework for equity and guarantees).
In the company's estimation, the agreement constitutes a significant milestone in the financing of the company's integrated storage solar project portfolio in Israel: in the first stage, the agreement will be used to finance projects designed to sell electricity at the winning rates guaranteed in the competitive procedures, and in the second stage, the agreement is expected to serve as the basis for an additional financing agreement, for projects designed to be integrated into the series the market
Yikki Neuman, CEO of Doral (Photo: Tal Shahar)
Yaki Neuman, CEO of Doral
: "The unique and precedent-setting financing agreement signed with Bank Mizrahi, Clal and Menorah strengthens Doral's position as a leading company in the solar energy market in general, and a pioneer in the field of solar combined with storage in Israel in particular.
It will allow the company to continue working vigorously to establish its backlog of projects and connect them to the electricity grid, in accordance with the company's growth strategy.
Doral is expected to show significant growth in the indices as early as 2024, when the total annual revenues from the company's mature projects, which are expected to connect to the grid until and during 2024, are expected to be approximately NIS 675 million, and approximately NIS 1.1 billion in 2025."
Doral is a leading global entrepreneurial company in the field of renewable energy, operating since 2007 and traded on the Tel Aviv Stock Exchange.
The company's backlog of projects currently stands at approximately 18.6 gigawatts (DC) combined with 13.1 gigawatt hours (GWh) of storage, of which approximately 15 gigawatts (DC) combined with 8.2 gigawatt hours (GWh) of storage in the US "b, and the rest in Israel and Europe (Italy, Poland, Romania and Denmark).
Alongside its activities in the world, which includes, among other things, the establishment of the largest solar project in the USA, Doral owns hundreds of profitable installations and is establishing the largest portfolio of solar energy projects in Israel combined with energy storage .
The company will produce and supply the largest amount of green electricity to significant consumers in the Israeli economy from its renewable energy facilities throughout the country, through the green electricity supplier it established.
Of money
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solar energy
solar energy
renewable energy