Audax Renovables launches its firts Green Bond

AUDAX RENOVABLES LAUNCHES ITS FIRST GREEN BOND PROGRAMME TO FINANCE PHOTOVOLTAIC PROJECTS OF 40 MW

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.

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 business is centred on supplying electricity (100 % renewable) and gas as well as on the production of 100% renewable energy.

Currently, it is listed on the Spanish Continuous Market under the ticker ADX.MC, and has been incorporated to the IBEX SMALL CAP® index since 23 March 2020.
As an energy Group with leading position in the SME segment in Spain, Audax Renovables guarantees efficient supply of energy retailed through a process of vertical integration with the renewable energy production branch, with a robust financial position and ready to lead the energy transition on the European market.
The Group operates through two different business activities: retail and production. Its division of electricity and gas retail is present in Spain, Portugal, Italy, Germany, Poland and the Netherlands, with over 365 thousand clients.

On the other hand, the generation division manages a total portfolio of operating wind farms of 91 MW in Spain, France and Poland. Additionally, it has a portfolio of photovoltaic projects under development of 320 MW in Spain, as well as a wind project under construction of 66 MW in Panama.

More information about Audax Renovables is available here: www.audaxrenovables.com

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