PULASKI COUNTY, Ind.-- Doral Renewables closed on financing to complete the Mammoth Solar Project, a solar installation spanning areas in Starke and Pulaski Counites, able to generate 1.3 gigawatts of power upon completion.
"We basically secured our mortgage, if you will, for the construction of the project and then the operation of the project," said Kevin Parzyck, senior vice president of development for Doral Renewables.
Doral renewables secured the roughly $1.5 billion needed four phases two and three under construction now in Pulaski County.
Phase one of the project, a 400 MW solar installation completed last year, is located in Starke County, near Knox.
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Phases two and three will be in Pulaski County only, and will have a capacity of 900 MW.
"North of 100 families that are signing these agreements."
Of all the land, least Darrell says 20% will be covered in panels. The rest is green space so landowners can utilize "agrivoltaics."
"It's called by the industry 'agrivoltaics.' Which means that there are solar panels, there is energy generation on the site, but also we can integrate agricultural activities."
This could mean sheep grazing, or low crop growing.
Doral says when the panels are at their end of life, they are designed to be ripped out of the ground, so the land can be returned to agricultural uses.
"All the land is leased, so the local community maintains ownership of the property."
Phase 2 and three are getting tax incentives from Pulaski County, including a 10 year real property tax abatement and a 20 year personal property tax abatement. The project is set to be completed. By the end of 2026 or by early 2027.