PHILADELPHIA–(BUSINESS WIRE)–Mr. Yossi Cohen, former Head of Israeli Mossad, the national intelligence agency of Israel, was appointed today as a Director at Doral Renewables LLC (Doral LLC), the U.S subsidiary of Doral Group, a leading Israeli renewable energy developer. Cohen will strengthen the company’s management team and will take an active part in promoting the company’s goals across multiple initiatives, including business development, financial matters, capital raising, and promoting partnerships and agreements with leading entities and companies in the energy sector.
Cohen’s decision to join Doral LLC was made in light of Doral’s dominance in the renewable energy space, and its contribution to combating global climate change. Considering the existing and potential strategic threat posed by global warming, Cohen acknowledges the need to further accelerate the development and deployment of renewable energy generation sources and innovative ‘green’ technologies to combat global warming.
Dori Davidovitz, Chairman of Doral Group: “We are proud of the appointment of Yossi Cohen, Former Mossad chief and Israel Prize winner, as a Director at Doral LLC. The company is undergoing significant growth, and we have no doubt that Yossi Cohen’s immense management experience shall greatly benefit and contribute to the company’s leadership efforts. Doral LLC’s existing portfolio of projects in development represents 3% of the U.S renewable energy goals and we will invest billions of dollars in the upcoming years to significantly increase this share. I have no doubt that Yossi will have a crucial impact on the company’s progress.”
Doral LLC (Formerly named Global Energy Generation LLC) was founded in 2019 as a joint venture between Doral Group and Clean Air Generation LLC. Doral LLC currently has over 3 GWdc of projects under development and 30,000 acres of land control, mainly in the Midwest and Mid-Atlantic U.S. The management team of Doral LLC includes experienced multidisciplinary individuals who have worked together for several years in the renewables industry. The company recently completed a monumental deal with the leading Israeli insurance firm, Migdal Insurance, in which Migdal agreed to invest a total amount of approximately $355 million in Doral LLC. The transaction included the acquisition of 20% of Doral LLC, extension of credit facilities and direct investments in projects.
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, 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.
