Audax Renovables expands its promissory note programme

AFTER DOUBLING ITS BUSINESS IN SPAIN, AUDAX EXPANDS ITS PROMISSORY NOTE PROGRAMME BY 50% UP TO €75 MILLION

The strong growth of the company has enabled it to double its business in Spain in the last 2 years resulting in sales figures of €695 million

Audax Renovables, whose activities are centred on the production of electricity from 100% renewable sources and the sale of electricity and gas, has registered one of the biggest growth rates on the national energy market. The increase is mainly the result of a strong penetration in the SME segment, where Audax is positioned as the fourth seller nationwide and is established as an alternative to the traditional electric power companies. This expansion has enabled the company to double its business in Spain in the last 2 years resulting in sales figures of €695 million.

In order to continue encouraging the growth of the company, on 13 February 2019 Audax expanded its promissory note programme amounting to a maximum of €75 million, with maturities of up to 24 months. The programme is a continuation of the previous one and has been registered on the Alternative Fixed-Income Market (MARF) under the name of “Programa de Pagarés Audax 2019”. Of the total amount of the promissory note programme, Audax Renovables has currently drawn down 80% of the authorised limit.

In this project Audax collaborates with Bankinter, Banco Sabadell, Banco Santander and Beka Finance SV as underwriting entities. At the same time, the registered advisor appointed for the transaction is PKF Attest Servicios Empresariales, S.L., and the payments agent is Beka Finance, Sociedad de Valores, S.A.

The solid financial position of the company will enable it to undertake new projects and stimulate its growth at both national and international levels, with the benefit of the synergy created by the vertical integration between the activities of renewable energy sale and production. Audax expects to continue inspiring trust in the investors due to its anticipated sustained growth and financial stability.

More about Audax Renovables

Audax Renovables is the result of a merger between Audax Renovables itself and its parent company, Audax Energía, which gave rise to an energy group, whose activities are centred on the sale of electricity and gas as well as on the production of 100% renewable energy. Audax is present in Spain, Portugal, Italy, Germany, Poland, the Netherlands, France and Panama, with a diversified and stable portfolio of more than 305,000 clients, with more than 500 employees and with a turnover of more than €1.2 billion.

Audax Renovables aims to continue focusing in the future on the renewable energy industry and to conclude new projects and PPAs (Power Purchase Agreements), which will confer to the company an advantageous position on the global energy market. In March of 2018 Audax signed a PPA with Cox Energy. It is a framework agreement, which became a remarkable milestone as the biggest contract for the purchase of energy produced with the use of solar photovoltaic technology signed to date. This PPA has now been surpassed by the PPA that Audax signed in February 2019 with Welink Group. The 708 MW of the agreement with Welink Group put Spain and Portugal in the position of the two European countries with the largest volume of renewable energy commercialised under this kind of contract. The agreement will cover a large part of the energy that Audax needs in order to provide electricity to its clients in Portugal, enabling the company to offer them 100% renewable, greenhouse gas emissions-free energy.

About Audax Renovables, S.A.

Audax Renovables, S.A. was incorporated in the year 2000 and is mainly involved in generating electricity from 100% renewable sources.

In 2003 the shares of Audax Renovables were admitted to trading on the secondary market of the Barcelona Stock Exchange and in 2007 they were included in the SIBE (integrated stock exchange system) of the Madrid Stock Exchange. Now the shares are traded on the Spanish continuous market at ADX.MC.

In August 2016 Audax Energía, S.A., after acceptance of the take-over bid by 70.86% of the Audax Renovables, S.A.’s share capital, became the majority shareholder of the latter.

Today Audax Renovables handles a portfolio of operating plants of 185 MW in Spain, France and Poland, of which 1 MW corresponds to solar energy and the rest to wind farms. Audax Renovables owns a portfolio of operating assets of high technological quality and an average age of 9 years.

For more information, please visit www.audaxrenovables.com

Download.