US-based renewable energy developer Doral Renewables LLC, has secured a $400 million minority equity investment from Dutch pension fund manager APG, acting on behalf of the largest Dutch pension fund, ABP. This investment aims to accelerate Doral’s renewable energy development pipeline. APG will also provide an additional $185 million of capital over time to support corporate credit and funding needs. Doral specializes in large-scale greenfield projects, many of which integrate agrivoltaic techniques to combine solar energy production with traditional farming. Doral’s pipeline includes over 13 GW of projects, with 1.35 GW already under construction, including the Mammoth Solar complex in Indiana. 

RoleCompany
Placement AgentTruist Securities
Legal Counsel (Doral)Latham & Watkins LLP
Financial Advisor (APG)Scotiabank
Legal Counsel (APG)Norton Rose Fulbright LLP