News & Events
Marathon Capital Advises Doral Renewables on $360 million of Production Tax Credits
March 24, 2026
March 24, 2026
Utility Scale Clean Power
Tax Credit Advisory
Marathon Capital has advised Doral Renewables ("Doral") on its first PTC tax credit transaction for Cold Creek, a 430 MWac solar generation + 340 MWh storage project (“the Project”) in Texas. The project secured a 10-year PTC Tax Credit Transfer Agreement with an investment-grade rated corporate buyer, enabling the monetization of more than $360 million of Production Tax Credits.
This transaction highlights Doral’s ability to execute innovative tax credit strategies in a rapidly evolving market and reflects Marathon Capital’s deep expertise advising clients on PTC transfer structures. By optimizing credit monetization and aligning with high-quality counterparties, Marathon Capital helped Doral efficiently access the growing tax credit transfer market to support the continued development of large-scale solar and storage assets.
Full construction has now begun with Notice to Proceed issued this month and commercial operation expected in summer of 2028.
