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IHI Power Services Corp. Signs Two Asset Management Agreements with Doral Renewables

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IHI Power Services Corp. (IPSC) has secured asset management agreements with Doral Renewables for two significant renewable energy projects: Mammoth North Solar Project in Starke County, Indiana, and Great Bend Solar Project in Meigs County, Ohio. Mammoth North, a 400 MW facility, is the first phase of the $1.5 billion Mammoth Solar Project, which is scheduled to come online in Q3 2024. The Mammoth Solar Project will ultimately generate 1.3 GW, serving 275,000 homes. Great Bend, a 48 MW facility, will begin construction this year and is expected to be operational by the end of 2025, generating $400,000 in annual tax revenue and strengthening local economies.

Doral has more than 13 GW of renewable projects under development nationwide, with $2.5 billion in long-term power purchase agreements. IPSC’s asset management expertise aligns with Doral’s sustainability goals, making this partnership critical to optimizing renewable assets and promoting sustainable communities.

Positive


  • IPSC secures asset management contracts for major renewable projects: Mammoth North (400 MW) and Great Bend (48 MW).


  • Mammoth North, part of the $1.5 billion Mammoth Solar Project, scheduled to be operational in the third quarter of 2024.


  • The Mammoth Solar project is expected to generate 1.3 GW and serve 275,000 homes.


  • The Great Bend Solar project is expected to be operational by the end of 2025 and will generate annual tax revenues of $400,000.


Agreements between IHI Power Services Corp. (IPSC) and Doral Renewables LLC for the management of the Mammoth North and Great Bend Solar Project assets are significant evidence financial importance for both entities. By providing leadership roles in these projects, IPSC has the opportunity to benefit from long-term revenue streams, increasing its financial stability and growth prospects.

From an investment perspective $1.5 billion Mammoth Solar project and next $400,000 in annual tax revenue with the Great Bend Solar Project represent a strong economic impact. Investors should note that Doral’s commitment to more than 13 GW of solar and storage projects, combined with $2.5 billion in long-term power purchase agreements, underscores the significant market opportunity in the renewable energy sector.

The renewable energy market is undergoing a rapid transformation, and the collaboration between IPSC and Doral Renewables is an example of this change. Strategic focus on Asset Management for large-scale solar projects, it can increase operational efficiency, reduce costs and improve overall project performance. This is especially important as the renewable energy sector continues to emphasize sustainability and reliability.

Moreover, the Mammoth Solar project has the potential to generate 1.3 GW of energy, which will meet the needs of approximately 275,000 homeshighlights the growing need for renewable energy solutions. Investors should consider the long-term implications of such projects for regional and national energy landscapes, as well as the expected economic benefits to local communities, such as job creation and tax revenue generation.

The IPSC and Doral Renewables partnership is a significant development in the renewable energy industry. It demonstrates the growing importance effective asset management in large-scale renewable projects. By optimizing the performance and efficiency of the Mammoth North and Great Bend Solar projects, IPSC can significantly contribute to achieving the sustainability goals of these initiatives.

In addition, segmenting the Mammoth Solar Project into four phases is a strategic approach that allows for phased investment and risk allocation. With the first phase expected to be operational by Q3 2024, stakeholders can expect to see a gradual increase in energy production and associated economic benefits. This phased approach provides investors with a roadmap through which they can monitor progress and adjust their strategies accordingly.









IPSC to Provide Asset Management Services for Mammoth North and Great Bend Solar Projects

ALISO VIEJO, California.–(BUSINESS WIRE)– IHI Power Services Corp. (IPSC), a leading provider of O&M, asset management, remote operations and regulatory compliance services to the power generation and other energy industries throughout USwas selected by Doral Renewables LLC (Doral) to provide asset management services for two major renewable projects—the Mammoth North Solar Project, a 400 MW power plant located in Starke County, Ind. and the Great Bend Solar Project, a 48 MW power plant Meigs County, Ohio.

Mammoth North Solar, scheduled to be commercially operational in Q3 2024, is the first phase of Doral’s Mammoth Solar project. Once completed, the Mammoth Solar project will generate a staggering 1.3 GW of capacity—enough clean energy to power approximately 275,000 homes. It is one of the largest solar projects in the country, $1.5 billion The project is divided into four phases: Mammoth North Solar, followed by Mammoth South Solar and Mammoth Central Solar I and II, with full construction expected to begin in the first quarter of 2025.

Doral’s Great Bend solar project will also break ground this year and is expected to be online by the end of 2025, bringing additional 400,000 dollars in annual tax revenues, creating a large number of new jobs and economic growth to support local businesses and Meigs County community as a whole.

“Doral Renewables’ trust in IPSC to support the Mammoth North and Great Bend solar projects underscores our proven ability to deliver the highest level of asset management—a service offering that we have purposefully prioritized and expanded in recent years,” said John Keller, IPSC CEO. “Our experience in optimizing renewable assets aligns perfectly with Doral’s vision of supporting sustainable communities, and we look forward to contributing to the success of one of the largest solar projects in United States while reinforcing our commitment to excellence in the clean energy sector.”

As a leader in renewable energy, Doral is currently developing more than 13 GW of solar and energy storage projects nationwide, with more than $2.5 billion in the long-term wholesale energy purchase agreements already in force.

“IPSC’s asset management team has consistently delivered outstanding results, making them a valued and long-term partner in our renewable energy endeavors,” added Amit Nadkarni, vice president of project management at Doral Renewables. “Their support has been beneficial as we continue to realize our vision of strengthening communities by creating a more sustainable future, and this partnership reflects our full confidence in the organization’s ability to strengthen our growth initiatives.”

To learn more, visit: https://www.ihipower.com/ and https://doral-llc.com/.

About IPSC: IHI Power Services Corp. (IPSC) parent company, IHI Corporation, headquartered in Tokyo, Japanis a heavy industrial manufacturing and service company with a proud tradition dating back to 1853. IPSC, the largest company of IHI Corporation US a company with over 600 employees providing operations, maintenance, asset management, remote support, compliance and support services US power generation, in addition to other energy industries. IPSC’s team of energy professionals offers value-added services based on expertise gained through years of hands-on experience in the power generation industry. IPSC offers its services on the basis of minimizing operational risk, exploiting market opportunities and maximizing asset value while maintaining a safe and environmentally compliant working environment. These foundations ensure the success of every project we manage.

For more information, visit: www.ihipower.com and follow IPSC on LinkedIn.

About Doral Renewables: Doral Renewables is a company Philadelphia– a global developer, owner and operator of renewable energy assets operating in the renewable energy market United States. It has a solar and storage development portfolio of more than 13 GW, including 1.3 GW under construction, and operates in 18 states and 9 electricity markets. Doral Renewables has more than $2.5 billion in long-term wholesale electricity purchase agreements US customers. The company has a global board and management team that includes Doral Group, Migdal Group and Clean Air Generation, with additional financial support from Apollo Global Management (NYSE: APO).

For more information, visit https://doral-llc.com/.

Leslie Licano, Beyond Fifteen Communications, Inc.

[email protected] | 949-733-8679 x 101

Source: IHI Power Services Corp.








Frequently asked questions



What new contracts has IHI Power Services Corp. signed?

IHI Power Services Corp. has entered into asset management agreements for the Mammoth North Solar Project in Indiana and the Great Bend Solar Project in Ohio.


When will the Mammoth North Solar project be launched?

The Mammoth North Solar project is scheduled to launch in the third quarter of 2024.


How efficient is the Mammoth North Solar project?

The Mammoth North Solar project has a capacity of 400 MW.


What is the total capacity of the Mammoth Solar project?

Once completed, the Mammoth Solar Project will have a total capacity of 1.3 GW.


How much energy will the Mammoth Solar project produce?

The Mammoth Solar project will generate enough energy to power approximately 275,000 homes.


What economic benefits will the Great Bend Solar project provide?

The Great Bend Solar Project will generate $400,000 in annual tax revenue and support local economic development.


How many megawatts is the Great Bend Solar project?

The Great Bend Solar project has a capacity of 48 MW.


When will the Great Bend Solar Project be operational?

The Great Bend Solar project is expected to be operational by the end of 2025.