Doral Energy partners with GreenGo
Doral Energy partners with GreenGo on 360 MW solar portfolio in Denmark, at total investment of 200 million EUR
GreenGo is pleased to announce that it has signed a partnership agreement with Doral Energy concerning acquisition and financing of a 360MW portfolio of utility scale subsidy-free solar projects from GreenGo’s Mermaid portfolio in Denmark. Doral acquires the projects in early development stage and will provide financing through development and construction to COD. Under the agreement, Doral and GreenGo will develop and build a diversified portfolio of projects across Denmark.
Yaki Noyman, CEO of Doral Energy comments:
"We are excited to enter into a new partnership with GreenGo on this portfolio of Danish utility scale solar projects. By entering into the Nordics, we continue to diversify our global footprint. It's the natural next step for our planned expansion in Europe. We look forward to contribute to accelerating the energy transition in Denmark with this portfolio."
Karsten Nielsen, CEO of GreenGo comments:
"We are proud of this new partnership with Doral. The agreement will ensure 200+ million EUR in full cycle financing for 360MW of our rapidly growing Mermaid solar portfolio under development in Denmark. Denmark remains one of the most interesting solar markets these days based on the ambitious environmental targets and the rapid expansion of new consumers, driven by electrification and green fuels/P2X. We believe that The Climate Partnership of Denmark’s expectation of 71TWh demand by 2030 may be underestimated, so there is a continued and significant demand for build-out of renewable generation in Denmark”
The partnership will help accelerate the energy transition in Denmark with an annual production of 460 GWh, corresponding to approximately 1.4% of Denmark’s total yearly electricity demand today, equivalent to the demand of +110,000 Danish households.
About GreenGo Energy Group A/S
GreenGo was founded in 2011 with the vision to accelerate conversion to renewable energy generation, by an innovative and scalable business model. GreenGo’s 360 full services platform includes origination, development, offtake, engineering, construction management, operations & maintenance and asset management services fully tailored and bespoke to our client’s needs and investment profile.
GreenGo has 5500MW of solar and storage project assets in various stages of development in selected US states and Scandinavia, of this more than 120MW has reached COD during the last year in the US. Over the last year, GreenGo has raised more than EUR 600 million in financing for more than 1000MW of the Mermaid project portfolio in Denmark through Partnership Agreements.
Further information on the Company can be found at www.greengoenergy.com
About Doral Energy
Doral Group is a publicly traded company on the Tel Aviv Stock Exchange in Israel (DORL) and is a global renewable energy leader, holding hundreds of long-term revenue generating renewable energy assets. With over 6 GWdc under development, Doral Group is active, inter alia, in Israel, Europe, and the United States. Doral Group is also emerging as a worldwide leader in the field of solar + storage solutions, following its win of Israel’s biggest solar + storage tenders to build approximately 750MW(DC) + 1,400MWh of storage facilities in Israel.
Further information on the Company can be found at www.doral-energy.com