Doral Renewables secures USD525m cross-border letter of credit financing

Categories: Banking & Finance, Projects & Energy

Doral Renewables, a US utility-scale solar and battery storage developer and independent power producer, secured a complex cross-border USD 525 million letter of credit financing supported by its Israeli shareholders.

The transaction utilized an innovative cross-border structure and required navigation of Israeli regulatory considerations tied to institutional shareholder support, including Israeli insurance companies and provident funds.

DLA Piper represented Doral, while Norton Rose Fulbright and Herzog, Fox & Neeman acted as counsel for the participating underwriters.

The Herzog team was led by Adina Rabinowicz, Neta Dorfman Raviv, and Nir Miller.

DLA Piper

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