Doral Renewables LLC has closed $1.5 billion in construction and tax equity financing to complete the next three phases of its Mammoth Solar project in Pulaski County, Indiana. The three solar projects—Mammoth South, Mammoth Central I, and Mammoth Central II—will each generate 300 MWac and are part of the broader 1.3 GW development.

The solar installations will feature ground-mounted single-axis PV systems, using over 1 million U.S.-made solar modules and approximately 20,000 tons of Indiana steel, contributing significantly to the local economy. Upon completion, the site is expected to power around 275,000 households annually.

The projects will integrate agrivoltaics, enabling dual land use for both energy generation and agricultural practices like livestock grazing and crop production. Doral’s agrivoltaic initiatives have already earned recognition, winning the "Dual-Use Plan of the Year" award at the North American Agrivoltaics Awards.

The $1.3 billion debt package was led by KeyBanc Capital Markets, Banco Santander, and HSBC Bank USA, with an additional $200 million tax equity commitment from Truist Bank. The three projects are scheduled to become operational by Q4 2026.

Advisory and legal support included Marathon Capital Markets, McDermott Will & Emery, CCA Group, Milbank LLP, and Norton Rose Fulbright.