Doral Enters Tel Aviv 35 Index Despite Recent Stock Volatility
Doral has entered the Tel Aviv 35 Index following rapid expansion, despite a 17.2% stock drop in six months. The renewable energy firm continues global projects, data center ventures, and expects revenues to jump at least 43% by 2027.
Doral Renewable Energy Resources, the second-largest renewable energy company in the Tel Aviv 35 Index alongside Enlight, has entered the index following a half-year of rapid expansion. Despite this milestone, the company's stock price has plummeted by 17.2% over the past six months.
Market Dynamics and Stock Volatility
Doral experienced a remarkable 560% surge between August 2025 and May 29, 2026, but has since lost about 50% of its value. Nevertheless, Doral remains large enough to join the premier large-cap Tel Aviv 35 Index. Gilad Ben Tsvi, energy analyst at Leader, noted that "many things aligned for the stock. It grew around the market trend of power generation companies that can benefit from the rising demand for server farms. Doral has a broad footprint both in the US, which is a demand hotspot, and in Israel."
Ben Tsvi attributes the stock decline to market conditions, explaining that "there is high expectation, and the stock reflects future pricing. The drop is perhaps due to players taking profits home. Overall, Doral has raised its forecasts and is reporting new projects and growth."
"Doral is a growth company that is expected to expand significantly. It will take time until the profits reflect this," said Gilad Ben Tsvi, energy analyst at Leader.
Global Expansion and New Ventures
Doral recently announced receiving a building permit for two solar projects with a capacity of approximately 1,100 megawatts in Indiana, USA, which will join the company's existing solar field there, bringing the total capacity to 2,700 megawatts. In Israel, Doral is about to connect the Hadri Shaan solar field to the grid, featuring 175 megawatts of solar capacity and an electricity storage system with a capacity of 722 megawatt-hours. In Europe, Doral completed the acquisition of the Polish renewable energy company Zephyrus, which deals in solar and wind turbines. The company is also active in Denmark, Italy, and Romania.
Additionally, Doral announced its entry into the data centers sector. In Israel, the data centers will be established in cooperation with Ampa and will rely on renewable energy, independent of the grid connection limitations about to be announced by the Electricity Authority.
Financial Performance and Forecasts
Doral presents forecasts for anticipated revenues and profits. According to its latest investor presentation, revenues are projected to grow by at least 43% in 2027. However, in the meantime, its investments exceed revenues, resulting in net losses.
In the second half of 2026, Doral's revenues rose by 51% compared to the corresponding period last year, reaching 323.7 million shekels, but losses also grew slightly by 1.5% to approximately 331 million shekels.
