Mammoth Solar — 1,300 MW utility-scale solar project in Starke & Pulaski Counties, Indiana
Doral Renewables secured $1.5B financing for Mammoth Solar, one of the largest solar projects in the US at 1,300 MW. Located in northern Indiana. Features agrivoltaics design.
$1.50B
Deal Value
1,300MW
Capacity
Solar
Technology
IN
Location
Deal Details
- Deal Type
- Project Finance
- Seller / Sponsor
- Doral Renewables
- Deal Value
- $1.5B
- Stage
- Under Construction
- ISO/RTO
- MISO
- Source
- Doral Renewables
Capital Structure
$1.50B
Total transaction value
Tranches
- Construction-to-Term Loan · KeyBanc Capital Markets / Banco Santander / HSBC Bank USA (Coordinated Lead Arrangers)
- $412M
- Tax Equity Bridge Loan · KeyBanc Capital Markets / Banco Santander / HSBC Bank USA (Coordinated Lead Arrangers)
- $614M
- Letter of Credit Facility · KeyBanc Capital Markets / Banco Santander / HSBC Bank USA (Coordinated Lead Arrangers)
- $259M
- Tax Equity · Truist Bank
- $200M
Service Providers
Advisory & Legal
- developerCounsel
- McDermott Will & Emery
- Lender Counsel
- Norton Rose Fulbright
- taxCounsel
- Milbank
- Financial Advisor
- Marathon Capital
Finance Counterparties
Lenders & Capital Providers
- Coord. Lead Arranger
- KeyBanc Capital Markets; Santander; HSBC
- Tax Equity
- Truist
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