BHI announced that its International Commercial & Industrial Team has provided a $40 million credit facility for the issuance of standby letters of credit to a premier global insurance company. The facility, backed by the premier global insurance provider, will support the ongoing efforts of Doral Renewables LLC to further develop its renewable energy pipeline in the US.  

Doral Renewables is a leading U.S. renewable energy developer, whose major investor is Doral Group Renewable Energy Resources Ltd, a publicly traded Israeli renewable energy company.

“We appreciate the BHI team’s ability to understand our specialized financing needs and greatly value our collaborative and productive relationship with BHI,” said Dani Rinot, VP Business Development – North America, at Doral Group.

“The innovative solution collaboratively structured here with BHI will help to advance the development of some of Doral’s largest late-stage projects and ultimately reduce the cost of bringing these projects through to construction,” added Evan Speece, Chief Financial Officer of Doral Renewables. “We are excited to continue to extend Doral Group’s longstanding relationship with BHI into Doral Renewables’ U.S. activities over the coming years.”

“BHI has been intensely focused on the Renewable Energy sector for almost two years and we have successfully closed credit facilities totaling nearly $1 billion. We take great pride in supporting this important cause while growing our business with leading Renewable Energy companies,” said Gal Defes, Senior Vice President, Head of International C&I and Tech Banking at BHI. “This sector is a major growth engine for BHI, and we will continue focusing on excelling within this field.”

“Renewable energy points to a safer future. This important sector is a growth engine for BHI and we are proud of our extensive work,” said Uri Shusterman, First Vice President, Head of the International C&I Team at BHI. “The successful completion of this transaction furthers BHI’s longstanding and respected relationship with Doral and underscores our commitment to tailoring financial solutions that meet our client’s individual requirements. We are very pleased to partner with Doral and support it in advancing its business goals in the US.”