This first green bond issue amounts to a total of €20 million, which will be allocated to finance the construction of eight photovoltaic farms

Audax Renovables (ADX.MC), the energy group whose activities involve generation and retail of 100% renewable electricity, has launched its first green bond issuance worth €20 million.

This operation – the Company’s first green bond issuance for the aforementioned amount, is part of the fixed income bond programme registered by the Company last July in the Alternative Fixed-Income Market (the “Bond Programme of MARF”) for a nominal amount of up to €400 million. The Programme allows to qualify and consider the issues as green bonds in accordance with the Reference Regulatory Framework for Green Financing, which was approved by the Company last June and which, according to the opinion of the independent expert Vigeo Eiris, meets the requirements established by the International Capital Market Association (ICMA) and therefore has obtained the highest level of assurance.

The first issuance of green bonds carried out by Audax Renovables with maturity date within 2 years amounts to €20 million, which will be allocated to finance the construction of 8 photovoltaic power stations – 4 of them located in Toledo (La Zarzuela I, La Zarzuela II, La Zarzuela III and La Zarzuela IV), each of them having a capacity of 5 MW, and the other 4 located in Guadalajara (Las Alberizas I, Las Alberizas II, Las Alberizas III and Las Alberizas IV), which also will have a capacity of 5 MW apiece, totalling 40 MW.
It should be noted that Audax Renovables has obtained all the necessary permits required to commence the construction of those power stations in the coming weeks. Overall, the solar farms will generate 65 GWh/year, equal to the annual electricity consumption of 19,000 households.

This operation confirms the strong commitment of Audax Renovables to the growth of its business line of renewable energy generation, as well as the alignment of its financial strategy with Audax Renovables Group’s environmental sustainability mission and values.

The registered adviser designated for the operation is PKF Attest Servicios Empresariales, S.L., the payment agency is Banco Sabadell, S.A., and Haitong Bank, S.A., Sucursal en España will act as underwriter. The operation has been provided with legal advice from J&A Garrigues, S.L.P.
The issuance has attracted great interest among investors – those who usually purchase the Company’s bonds as well as international investors who look for bonds classified as “green”, especially as this has been the first issuance carried out by Audax Renovables in compliance with the strict requirements established for the green bonds to be classified as such.