27 March 2026
DLA Piper advises Doral Renewables on US$575 million credit facilities
DLA Piper advised Doral Renewables, a utility-scale solar and battery storage developer and independent power producer, on the negotiation of two syndicated secured credit facilities worth approximately US$525 million. Concurrently, the team counseled on the amendment and restatement of an additional US$50 million letter of credit facility.
The credit facilities will allow Doral Renewables to issue sponsor equity letters of credit to project financing and similar beneficiaries, enable conservation of liquidity and heightened project-level rates of equity return, and support interconnection and power purchase agreement letter of credit postings across the company’s development pipeline. Both facilities are expected to be upsized in the future to support further growth.
DLA Piper’s multidisciplinary, cross-border team was led by Partner and Global Co-Chair for Energy & Natural Resources Robert da Silva Ashley (New York/Miami) and included Partner Drew Young (New York); Of Counsel Stefanie Karidis (New York) and Arlette Grabczynska (Chicago/Washington, DC); Managing Director Miguel Colebrook (New York); Senior Associates Sienna White (Chicago), Lucía Rosso (New York) and Calum Ablett (London); and Associates Soorim Choi, Justin Shapiro (both New York), Jack Haimowitz (Los Angeles), Emily Jones, and Matthew Larson (both Washington, DC).
DLA Piper advises on all aspects of financing, across borders, sectors and financial products. The firm’s lawyers advise issuers, underwriters, selling shareholders, sponsors, arrangers, lead managers, originators, dealers, trustees and depositaries on a broad range of capital markets offerings, including equity, equity-linked and debt securities, structured and project financings, and securitizations.
The credit facilities will allow Doral Renewables to issue sponsor equity letters of credit to project financing and similar beneficiaries, enable conservation of liquidity and heightened project-level rates of equity return, and support interconnection and power purchase agreement letter of credit postings across the company’s development pipeline. Both facilities are expected to be upsized in the future to support further growth.
DLA Piper’s multidisciplinary, cross-border team was led by Partner and Global Co-Chair for Energy & Natural Resources Robert da Silva Ashley (New York/Miami) and included Partner Drew Young (New York); Of Counsel Stefanie Karidis (New York) and Arlette Grabczynska (Chicago/Washington, DC); Managing Director Miguel Colebrook (New York); Senior Associates Sienna White (Chicago), Lucía Rosso (New York) and Calum Ablett (London); and Associates Soorim Choi, Justin Shapiro (both New York), Jack Haimowitz (Los Angeles), Emily Jones, and Matthew Larson (both Washington, DC).
DLA Piper advises on all aspects of financing, across borders, sectors and financial products. The firm’s lawyers advise issuers, underwriters, selling shareholders, sponsors, arrangers, lead managers, originators, dealers, trustees and depositaries on a broad range of capital markets offerings, including equity, equity-linked and debt securities, structured and project financings, and securitizations.