Audax Renovables invests 4.3 million euros in the construction of a new photovoltaic project in Fontanar, Guadalajara

La Miranda will have total power of 6.87 MWp and will be connected to the Fontanar substation with its own transmission line of just over 700 metres, with an estimated construction period of roughly 6 months.

Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that produces and supplies 100% renewable electricity and gas with a presence in 9 countries, begins construction of its photovoltaic project, La Miranda, located in the municipality of Fontanar, in the province of Guadalajara, which will have a total capacity of 6.87 MWp. In the aforementioned municipality, the Group already built its first photovoltaic plant, Cañamares, in 2020, which is fully operational and performing above expectations.

In line with its strategy of continuing to promote its generation activity through the different projects that make up its portfolio, Audax plans to invest approximately 4.3 million euros in constructing La Miranda project.

The project will have 12,490 x 550 Wp modules with 1-axis tracker category Tier-1, which will generate 12.2 GWh/year, equivalent to the energy consumption of almost 3,500 homes and about 11,000 people. Its commitment to clean energy will prevent the emission of some 2,500 tonnes of CO2 into the atmosphere each year.

This facility will be connected to the Fontanar substation with its own transmission line measuring over 700 metres, with an estimated construction period of approximately 6 months. The company ensures that the works are accompanied by first-rate contractors that meet high quality standards.

Audax currently has 226 MW of installed capacity, 150% more than in 2020, including the Toabré wind farm project in Panama, which is currently in its final testing phase.

These projects are part of the Audax Group’s firm commitment and strategy to increase its 100% renewable generation portfolio by increasing its production portfolio, either through organic growth or by closing purchase deals, with the aim of supplying its customers with renewable energy produced at its own plants.

About Audax Renovables

Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100%
renewable energy and supplies electricity and gas to customers in seven European countries. It currently
has a portfolio of wind farms and photovoltaic plants in Spain, Portugal, Italy, France, Poland and Panama
in operation, under construction and at various stages of development, totalling 2,524 MW. In its supplying activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 544,000 customers in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and leads the SME segment in Iberia. Audax was listed on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. Currently, its market capitalisation exceeds 600 million euros, and it has a team of more than 800 professionals.