COLUMBUS, Ohio, May 3, 2021 /PRNewswire/ -- AEP Energy, a
subsidiary of American Electric Power (Nasdaq: AEP) and one of the
largest electric energy wholesale and retail suppliers in the U.S.,
and Global Energy Generation LLC (Doral LLC), a leading developer
of renewable energy projects, primarily in the Midwest and
Mid-Atlantic regions, announced today that they have signed a
long-term renewable energy purchase agreement for the Mammoth Solar
project in Indiana.
Mammoth Solar 1, a 480 megawatt direct current (MWdc) solar
energy project, is the first phase of the 1.65 gigawatt direct
current (GWdc) Mammoth project being developed by Doral LLC. The
Mammoth solar project covers more than 12,000 acres in Starke and Pulaski counties in northern Indiana.
Mammoth Solar 1 is expected to begin construction during the
fourth quarter of 2021 and reach commercial operation by the second
quarter of 2023.
"AEP Energy is focused on providing customers with integrated,
carbon-free energy supplies that deliver long-term price stability
while benefitting the environment and surrounding communities.
Agreements like the one with Doral LLC demonstrate how our
innovative energy solutions can support the development of new
renewable clean energy resources, boost local economies and help
our customers power their homes and businesses with clean, reliable
energy," said Greg Hall, president,
AEP Energy.
"This is one of the largest solar power purchase agreements in
the PJM market. Mammoth 1 will displace 40,000 tons of
greenhouse gas emissions and save 1 billion gallons of irrigation
well water annually. Reduced farming chemicals and fertilizers
along with allowing the land to be fallow, like in a CRP program,
will only enhance the quality of the land for future generations.
The investment of hundreds of millions of dollars into the
community will create jobs and uplift the economy," said
Nick Cohen, President & CEO,
Global Energy Generation (Doral LLC).
"Doral LLC, the entrepreneurial platform, of Doral Renewable
Energy Resources Group Ltd (Doral Group) in the U.S., is continuing
its rapid growth in the region," said Yaki
Noyman, chief executive officer of Doral Renewable Energy
Resources Group. "This is another significant milestone in Doral
LLC' strategy to develop, execute and operate quality large-scale
utility renewable energy projects."
AEP Energy, a subsidiary of American Electric Power (Nasdaq:
AEP), is a certified competitive retail electricity and natural gas
supply provider operating in 27 service territories in six states
and Washington, D.C. AEP Energy
supplies electricity and natural gas solutions for more than
500,000 residential and business customers and takes pride in
making it easy for customers to buy, manage and use energy. Based
in Columbus, Ohio, and
Chicago, AEP Energy is committed
to excellence by delivering value, innovative energy solutions and
excellent customer service.
Doral LLC was founded in 2019 as a joint venture between Doral
Group and Clean Energy Generation LLC. Doral LLC currently has over
3 GWdc of projects under development and 30,000 acres of land
control, mainly in Midwest and Mid-Atlantic U.S. The management
team of Doral LLC includes experienced multidisciplinary
individuals who worked together for many years in the renewables
industry in the US.
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 800MW(DC) + 1,500MW of
storage facilities in Israel.
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SOURCE American Electric Power