Doral announced today (Sunday) another agreement in the United States, for the sale of electricity in the amount of 360 megawatts, for 15 years. Doral LLC, a subsidiary of Doral in the USA, is the one that signed the agreement for the sale of electricity to the American energy corporation Constellation , For half of the Mammoth Central project in Indiana, part of the giant Mammoth Solar project (Indiana project) for a period of 15 years from the expected commercial launch date in 2024.
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The agreement further stipulates that the purchaser will be entitled to transfer his rights under the agreement, in relation to about 184 megawatts, to Bank of America Corporation, which will step into the purchaser’s shoes and purchase the electricity and ‘green certificates’ directly from the project corporation.
The total receipts from the sale of electricity and ‘green certificates’ that are expected to be received under the agreement are estimated at $ 350 to 375 million, in addition to other significant income components that will be based on free market prices, both during and after the agreements.
Mammoth Central is part of the flagship Mammoth Solar project in Indiana, USA, which covers an area of about 50,000 acres and is expected to produce about 1,600 megawatts of clean energy – enough to provide electricity to 275,000 households in the Midwest each year. This is one The largest photovoltaic projects in the United States, and the largest initiated, established and held by an Israeli-controlled company in the United States. To date, Doral has signed agreements to sell electricity for approximately 1,200 megawatts out of the entire Indiana project supply.
However, given the stages of the Indiana Center 1 project, there is currently no certainty about completing project initiation and development procedures, obtaining planning approval, funding, construction or connection to the network. This is partly due to the fact that he is subject to obtaining various approvals, which there is no certainty will be obtained.
Last month, the company reported the signing of a Memorandum of Understanding (EPC) and a start-up order for the first part of the project (Mammoth North) which provided 480 MW and its commercial operation is expected in 2023.
Yaki Neumann, CEO of the Doral Energy Group, said: “Doral is establishing its position in the United States with a third agreement for the sale of electricity for the company’s flagship project in Indiana. At all stages, from locating the land to completing the project and holding it. ”