- These include the farms currently in operation, financed by bank loans, under the system of Project Finance and Equity provided by Audax Renovables. They are loans with no appeal to the parent company, Audax Renovables.
- There are technical administrative management agreements between the farms in operation and Audax Renovables so that the latter actively manages the farms, for which Audax Renovables obtains regular monthly income.
- In addition, on an annual basis, Audax Renovables obtains income from the farms in operation through dividends, interest and repayment of the principal of the subordinated loans.
OPEX (OPERATING EXPENSES)
Audax Renovables currently has 12 professionals on its staff, with wide experience in the sector, that are in charge of the technical financial management of the farms in operation and developing new projects, as well as monitoring and obtaining financing for the projects.
- The equity needs for new projects are financed by capital increases and sale /rotation of Audax Renovables’ non-strategic assets.
- Audax Renovables develops new projects through specific purpose entities (SPE).
- The investment is obtained from two sources:
- Audax Renovables’ equity.
- Project Finance Loans (with appeal limited to the developer).
- Dividends are paid out every year by Audax Renovables Holding, once approved by the Board of Directors.