Doral Group Renewable Energy Resources Ltd. is investing $400 million in common equity into its subsidiary, Doral Renewables LLC. This capital injection adds to the group's existing ownership stake.
The investment aims to accelerate growth and meet Safe Harbor timelines. This strategy will increase the total megawatts in service across the United States.
In a related transaction, the CEO of the U.S. subsidiary will exchange his ownership interests for cash and Doral Group stock. He will continue to serve as President and CEO.