Doral Expands Indiana Solar Project to 2.7 Gigawatts by 2029
Doral Energy received permits for the second phase of its Indiana solar project, expanding total capacity to 2.7 gigawatts by 2029 with an estimated investment of up to 3 billion shekels.
Doral Energy has secured construction permits for the second phase of its massive solar project in Indiana, bringing the total planned capacity to 2.7 gigawatts. The company announced to investors that the new permits cover two projects with a combined capacity of 1,100 megawatts. Upon completion, expected by 2029, the solar field will reach approximately 2,700 megawatts, with an additional 216 kilowatts planned later.
Financial Projections and Scope
The vast solar field will span roughly 80,000 dunams, comparable to the combined area of Tel Aviv, Holon, and Bat Yam. Doral estimates that the new phase will generate 350 million shekels in revenue and 300 million shekels in annual EBITDA, with construction costs expected to total between 2.5 and 3 billion shekels.
"We secured eligibility for federal tax credits, which reduce construction costs because we advanced entrepreneurial processes. But the reliance on tax credits will disappear. U.S. electricity prices are rising, and solar generation is the most efficient and economical," said Doral CEO Yoni Hantzis.
Agricultural Integration and Grid Connection
Unlike many conventional solar farms, the project will be agro-voltaic, combining agriculture and power generation. Landowners will continue growing corn, wheat, and vegetables between the solar panels, while grazing animals help control weed growth and ensure panel exposure. Electricity will flow directly into the PJM transmission grid without storage facilities in the initial phase.
