Former Indiana Governor Holcomb Joins Doral Renewables Board of Directors

Rhea-AI Summary

Doral Renewables, a major renewable energy developer, has appointed former Indiana Governor Eric J. Holcomb to its board of directors. The company operates a 14 GW development portfolio, including the notable 1.3 GW Mammoth Solar project in Indiana and 1.2 GW Vista Sands Solar in Wisconsin, collectively powering 500,000 Midwestern households.

The Mammoth Solar project significantly impacts Indiana's economy by using 20,000 tons of local steel and contributing over $40 million to local municipalities through taxes and development payments. The company implements innovative dual-use practices, combining solar energy with agriculture, currently supporting 2,000 livestock grazing and food crop cultivation within the project area.

Doral Renewables operates in 20 states across seven electricity markets, with 400 MW currently operational and 950 MW under construction. The company has secured over $2.5 billion in long-term wholesale power purchase agreements with U.S. customers.

Positive

• Significant project portfolio of 14 GW in development
• Secured over $2.5 billion in long-term power purchase agreements
• Strong operational presence with 400 MW running and 950 MW under construction
• Innovative dual-use land strategy combining solar and agriculture
• Mammoth Solar project to generate $40 million in local economic benefits

Negative

• None.

PHILADELPHIA, March 20, 2025 /PRNewswire/ -- Doral Renewables LLC, a leading developer, owner, and operator of renewable energy projects, has announced the appointment of former Indiana Governor Eric J. Holcomb to its board of directors. Holcomb recently completed his eight-year term as the 51st Governor of Indiana, during which the state saw record-breaking investments and job creation.

Doral Renewables, an independent power producer, specializes in greenfield development of utility scale renewable energy projects. Its 14 gigawatt (GW) pipeline includes projects such as the 1.3 GW Mammoth Solar in Indiana and the 1.2 GW Vista Sands Solar project in Wisconsin. These two projects alone will power 500,000 Midwestern households.

The company's Mammoth Solar project in Indiana impacts the Hoosier state's economy by tapping into Indiana's leading industries, including utilizing approximately 20,000 tons of Indiana steel. The project is also expected to contribute over $40 million to local municipalities through taxes and economic development payments. One of Doral's primary efforts focuses on implementing dual-use practices that allow solar energy and farming to co-exist on the same land, offering local family farms the opportunity to increase profitability, and promote food production and heritage farming. Mammoth Solar currently features 2,000 livestock grazing within the project's perimeter and the cultivation of several food crops.

"Governor Holcomb brings decades of exceptional experience in policymaking and economic development. His vision and leadership have resulted in record-breaking investments in Indiana," stated Nick Cohen, President and CEO of Doral Renewables. "His innovative mindset aligns with our farmer community, especially as we continue to enhance our agrivoltaics deployment efforts, benefiting both the national grid by diversifying energy resources and cost reduction as well as local farmers by maximizing land use and creating additional revenue streams."

"I couldn't be more excited to join the relationship-centric team at Doral Renewables", said Holcomb. "Doral's world-class vision and mission are both critically important to meet the communities' needs and provide them with economic opportunities and increased energy demand we are going to experience in the upcoming years. I look forward to strategically assisting Doral as the months and years unfold."

About Doral Renewables
Doral Renewables is a Philadelphia-based developer, owner, and operator of renewable energy assets throughout the United States. Our solar and storage development portfolio exceeds 14 GW, which includes 400 MW currently in operation and 950 MW under construction. Doral Renewables operates in 20 states and across seven electricity markets. With a strong focus on community engagement, we aim to integrate agrivoltaics practices throughout our pipeline, creating additional opportunities for farming communities. We have secured over $2.5 billion in long-term wholesale power purchase agreements with U.S. customers. Our global management and leadership team includes the Doral Group (TASE: DORL), Migdal Group (TASE: MGDL), Clean Air Generation, APG, and Apollo Global Management (NYSE: APO). Learn more at doral-llc.com and follow us on LinkedIn and Facebook.

Governor Eric J. Holcomb
Eric J. Holcomb most recently served as the 51st Governor of the State of Indiana. Holcomb is a lifelong Hoosier, born in Indianapolis, Indiana, graduated from Pike High School and Hanover College in southeastern Indiana. He went on to serve six years of active duty in the U.S. Navy, first at Naval Station Great Lakes , and later at Naval Air Station Cecil Field, Florida, and then overseas at CINCIBERLANT NATO Command in Portugal. Holcomb was a trusted advisor to both Governor Mitch Daniels and Senator Dan Coats and served as a former state chairman of the Indiana Republican Party. He just finished serving in his second term as governor having been elected in 2016 and 2020 when he received the most votes for governor in Indiana history. Prior to his election as governor, Holcomb served as Indiana's 51st Lieutenant Governor alongside then Governor Mike Pence. Holcomb has earned a reputation as a problem-solving, consensus builder focused on creating new opportunities for all. He frequently traveled throughout the state, visiting with Hoosiers about how to make Indiana the best place in the world to live, work, study, play, and stayed focused on economic, workforce, and community development. Under Holcomb's leadership, Indiana soared to new heights, including record investments and outcomes in infrastructure, education and healthcare and becoming an economic envy in America. Holcomb and his wife, Janet, live with their miniature schnauzer Oliver in central Indiana.

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SOURCE Doral Renewables LLC

FAQ

What is the capacity of Doral Renewables' Mammoth Solar project in Indiana?

The Mammoth Solar project in Indiana has a capacity of 1.3 GW and uses 20,000 tons of Indiana steel in its construction.

How many megawatts does Doral Renewables currently have under construction?

Doral Renewables has 950 MW under construction, with an additional 400 MW already operational.

What is the total value of Doral Renewables' power purchase agreements?

Doral Renewables has secured over $2.5 billion in long-term wholesale power purchase agreements with U.S. customers.

How does Doral Renewables implement agricultural integration in their solar projects?

Doral implements dual-use practices allowing 2,000 livestock to graze within project perimeters and supports food crop cultivation alongside solar installations.

What economic impact will the Mammoth Solar project have on local municipalities?

The project will contribute over $40 million to local municipalities through taxes and economic development payments.