AUDAX RENOVABLES INCORPORATES 320 MW PHOTOVOLTAIC IN ITS PORTFOLIO
Following the strategy of vertical integration, Audax Renovables has incorporated photovoltaic projects for 320 MW for its development and start-up
Audax Renovables (ADX.MC), whose business is focused on electricity and gas supplying as well as on the production of 100% renewable energy, has incorporated 320 MW of photovoltaic projects for its development and start-up, 60 MW of which are in a very advanced stage.
The company, which intends to increase its generation portfolio in order to supply its customers with renewable energy produced in its own plants, has added to its portfolio photovoltaic projects located in Andalucia, Castilla la Mancha and Murcia. The company plans to develop and commission these 320 MW in the coming months.
At the last General Shareholders’ Meeting, the company presented the main course of action for 2022 which includes maintaining the position of the top independent retailer in the SME segment of the Spanish market, covering 2/3 of the energy supplied to its clients with PPA contracts, based on the assets rotation policy, and replicating the business growth model on international scale. The Company was also awarded with rating “BBB-“ with stable outlook.
In the same way, Audax Renovables is working towards concluding the financial year 2022 with more than 500,000 clients, over 15 TWh of energy supplied, around €1.5 billion of income, around €100 million EBITDA, and 1.5 times lower its net financial debt/EBITDA ratio.
The 320 MW of installed power incorporated by these photovoltaic projects will provide, once start-up, some 600 GWh per year of green energy, equivalent to the annual consumption of more than 175,000 households.
More about Audax Renovables
Audax Renovables is the result of a merger between Audax Renovables itself and Audax Energía, which gave rise to an energy group whose business are focused on electricity and gas suplying as well as on the production of 100% renewable 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