APG closes USD-400m investment in Doral Renewables

Dutch pension investment company APG has completed its USD-400-million (EUR 363.1m) minority equity investment in Doral Renewables LLC to support the development and construction of the US renewable energy company’s pipeline.

APG, invested on behalf of pension fund ABP, has also committed to providing up to USD 185 million over time as credit support and funding, a press statement says. The deal was first unveiled in June.

Doral’s project pipeline tops 13 GW and includes 1.35 GW of projects under construction and about 2 GW of mature projects slated to start construction within the next 12 months.

Earlier this month, the Philadelphia-based firm arranged a USD-285-million financing package to support the initial construction of the remaining three 300-MW phases of the Mammoth Solar complex located in Northern Indiana.

(USD 1 = EUR 0.908)

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