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Apex Trader Funding (ATF) - News

Doral Renewables LLC Announces $400 Million Equity Investment from APG

PHILADELPHIA, June 24, 2024 (GLOBE NEWSWIRE) -- Doral Renewables LLC ("Doral Renewables" or "the Company"), a leading U.S. developer, owner, and operator of renewable energy and storage projects, announced today a $400 million minority equity investment by Dutch pension APG on behalf of the largest Dutch pension fund ABP. The investment by and partnership with APG will accelerate the development and construction of Doral Renewables' energy pipeline. As part of the transaction, APG will also provide its pro rata share of corporate credit support and funding for the Company's business up to an additional $185 million of capital over time. Doral Renewables is an Independent Power Producer (IPP) specializing in partnerships with farming communities across the U.S. to build large-scale, greenfield projects that meaningfully advance the energy transition. The Company is also an industry leader in agrivoltaics, where traditional farming practices are implemented in and around the solar farm to maximize land use, enhance biodiversity, preserve heritage farming and generate additional revenue streams and economic opportunities for local communities. The Company's project pipeline totals over 13 GW and includes 1.35 GW of projects under construction and approximately 2 additional GW of mature projects slated to start construction within the next 12 months. "In addition to the environmental benefits which our assets provide to the country, APG's investment and stewardship ...