Doral Renewables LLC announced that it has entered into an agreement to issue convertible notes for an aggregate gross proceeds of $500 million on October 18, 2022. The transaction includes participation from new investor, funds managed by Apollo Global Management, Inc. and returning investor, Migdal Insurance and Financial Holdings Ltd. The notes are convertible into common shares of the company at a pre money valuation of $1.5 billion. Corinne Still of Apollo Global Management, Inc. will join the company's board of directors as a part of the transaction.