Yaki Neumann, CEO of Doral (Tal Shahar Photo, pexels)
Doral today took a significant step towards the implementation of its huge project in the US. The company reported the signing of a procurement and construction planning agreement (EPC) and an order to begin construction work on Mammoth North, the first part of the Indiana giant project Mammoth Solar, with Solv Energy LLC, a company One of the leading contractors in the USA.
Mammoth North is a 480 MW (DC) project and is the first part of the Mammoth Solar flagship project in Indiana, USA, which has an expected capacity of about 1,600 MW (DC).
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Doral will pay NIS 850 million for the construction of the project, subject to the contractor’s compliance with milestones set forth in the agreement. The signing of the agreement and the start of construction work constitute a significant milestone towards the commercial operation of the project, which the company estimates is expected in 2023.
The start-up order comes after last year Doral signed a PPA with AEP, one of the top U.S. power companies for Mammoth North and contracted with Risen Energy America, Inc., the global Risen Group, which is the supplier of solar panels for the project.
In the past year, Migdal Insurance entered a direct partner in the first and second part of the project with a direct investment of up to $ 175 million, as part of its overall investment in Doral’s American subsidiary. Migdal’s total investment in capital and debt in Dora LLC and in projects it owns amounts to up to approximately $ 415 million. This is one of the largest investment transactions in Israel in the field of renewable energy.
The Mammoth Solar project is located in the Stark and Polaski counties of northern Indiana, and covers an area of about 50,000 dunams, an area similar in size to the area of Tel Aviv-Yafo as a whole, and is expected to produce about 1.6 gigawt (DC) of clean energy – enough to Provide electricity to 275,000 households in the Midwest each year. This is one of the largest photovoltaic projects in the United States, and the largest initiated, established and held by an Israeli-controlled company in the United States.
Yaki Neumann, CEO of Doral: “We are pleased to announce the start of construction work on the Mammoth Solar project, which is one of the largest photovoltaic projects in the world. We are meeting the project goals, towards the commercial launch of the first part of the project already in 2023.
“Doral’s uniqueness is that it initiates and develops projects itself, at all stages, from locating the land to completing and holding the project. We see the American market as a growth engine that is a key and strategic goal for us, and happy to be a major and dominant player in the US, Israel and Europe.” .
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