Doral to build NIS 1.5b solar project in Texas

Doral Group Renewable Energy Resources (TASE: DORL) has signed a NIS 1.5 billion contract with a US contractor to build a large solar field (553 MW production) at Cold Creek in Texas. The project will include a storage capacity of 340 megawatts per hour, on an area of ​​​​more than 5,000 acres.

Earlier this month, Doral signed a 12-year agreement with Texas power grid customers that, starting in 2028, will be worth $400 million annually for Doral’s U.S. unit. “These proceeds are in addition to other significant revenue components of the project, among others from the storage component, which will be based on open market prices or futures contracts that the project company will enter into, during and after the agreement period,” Doral said at the time. The project will be connected to the Electric Reliability Council of Texas, the state’s main power grid. The large storage capacity will facilitate the purchase of electricity outside peak hours, to be sold at a profit during peak hours.

According to Doral’s announcement, construction will begin during the first quarter of 2026, and the contractor has committed to completing it by the second quarter of 2028, when the energy sales contract begins. Completing construction by 2028 is especially important because tax benefits for solar projects expire in 2030.

Solar field in northern Chile

Another Israeli solar company that has signed a major offshore contract is Solaer Renewable Energies (TASE: SOLR), which has received final environmental approval to build a large solar field in the Atacama Desert in northern Chile. The Inapac project will have a production capacity of 150 megawatts and a storage capacity of 500 megawatt hours. The cost of building the project is $2.4 billion, and it will generate annual revenues of $565 million.

In Israel, Arava Power completed a NIS 115 million investment round led by the infrastructure investment arm of investment and pension funds Giza Singer Evin and Mitav, Kibbutz Hatzerim and Kibbutz Be’eri, and with participation from existing investors, including The Phoenix Holdings and JNF-KKL. This comes after the success of the 270 MW Sunray project in the United States. The proceeds will be used to develop existing projects and build new ones in Israel and abroad.

Published by Globes, Israel Business News – en.globes.co.il – on October 27, 2025.

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