McDermott Will & Schulte advises Doral Renewables in its financing and tax credit monetization of the Cold Creek Solar + Storage Project

International law firm McDermott Will & Schulte represented Doral Renewables LLC (Doral), a leading, US utility-scale solar and battery storage developer and independent power producer, in its financial close for the Cold Creek Solar + Storage project in Schleicher and Tom Green Counties, Texas.

This 430 MWac solar generation and 340 MWh storage project is Doral’s largest development to secure construction financing behind the 1.3 GW Mammoth Solar complex in northwest Indiana. Commercial operation is targeted for summer 2028 and it is expected to generate enough clean energy to power nearly 66,000 homes.

The McDermott team advised on both the construction-to-term financing and the transfer of production tax credits. The team was led by Christopher Gladbach, Joel Hugenberger, John Bridge, and Elle Hayes, with invaluable assistance from Brendan O’Leary, Olivia Johnson, Will Plews-Ogan, Andrew Klimaszewski, John Zhang, Eliza Clark, Heather Cooper, Nicholas Tucker, Jacob Hollinger, Sophie Tallman, and Rony Lee.

Read Doral’s press release here.

McDermott’s Energy & Project Finance team has brought extensive IRA and OBBBA, tax credit, and tax equity finance experience to the transaction. McDermott was the first law firm to close a post-IRA tax credit transfer in January 2023 and has since closed more than 300 post-IRA and OBBBA tax credit transfer driven transactions.

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