Doral increases stake in the US and raises 2027 forecast

Doral summarized the second quarter of 2026 with signs of accelerated growth in its US operations and an increase in its project backlog, and is updating its 2027 forecasts upwards. The renewable energy company expects its revenue next year to total approximately 1.95 billion shekels, following the second quarter in which it increased its stake in the US operation Doral LLC to approximately 53.2%.

As part of the move, Doral invested about 400 million dollars in Doral LLC, of which 180 million dollars were used to repay a loan provided by the Apollo fund. The transaction increased Doral's share in the US operation and its share in the future cash flow that will be generated from it.

At the same time, Doral completed the construction of the Indiana project in the second quarter, bringing its volume of connected projects to approximately 3 gigawatts of generation and approximately 1.7 gigawatt-hours of storage. The company's mature backlog grew during this period by approximately 440 megawatts of generation and approximately 1.5 gigawatt-hours of storage, reaching approximately 10.4 gigawatts of generation and approximately 8.6 gigawatt-hours of storage.

Alongside its activity in the renewable energy sector, Doral is expanding its activity in the field of energy infrastructure for server farms and data centers, against the backdrop of the surge in demand for electricity from artificial intelligence infrastructures. In Israel, the company received a commitment for a 96-megawatt connection for a data center project in Har-Tuv, which it says could reach an IT capacity of 74 megawatts. The project was promoted as part of the allocation of space in the national electricity grid, at a time when the demand for connecting server farms in Israel has surged significantly.

Last month, the Electricity Authority, through Noga, froze the processing of new applications for connecting server farms for a period of 140 days, after the total number of accumulated applications reached approximately 27,000 megawatts — about three times the average electricity consumption of the economy.

At the same time, Doral completed the acquisition of control in the company Zefirus, which operates in Europe, and its European backlog reached approximately 2.6 gigawatts of generation and approximately 800 megawatt-hours of storage. During the quarter, Doral's equity grew by approximately 1.7 billion shekels, after it completed a share issuance of more than 920 million shekels in June.

"We completed significant strategic moves in the quarter that strengthen the group's activity and expand its growth base for the coming years," said Doral CEO Yoni Hantzis upon the publication of the quarterly reports.