Audax purchases new photovoltaic projects

The company acquires two 10MWp photovoltaic projects in the province of Toledo

Audax Renovables (ADX.MC), the energy group that integrates the businesses of generation and supplying of 100% renewable electricity and gas, continues its strategy of tirelessly promoting its renewable energy generation projects.

The company has acquired two photovoltaic projects in the towns of Polán and Los Navalmorales, both located in the province of Toledo, of 5MWp each. The aforementioned projects have been acquired from Energy Pool, the same counterpart that developed the Group’s different photovoltaic projects in the provinces of Guadalajara and Toledo that are currently under construction.

Specifically, these are the projects called Los Arenales, in the town of Polán, of 5MWp, and El Toconal, in the town of Los Navalmorales, also of 5MWp, and the latter can be expanded by up to an additional 10%. Both projects will have the whole installation of approximately 30,000 solar panels, which will produce 16 GWh per year of energy, which is equivalent to the annual consumption of more than 4,600 households.

The Group continues to promote its commitment to renewable energy generation facilities, being these the continuation of successive others that, today, are being built in the same province of Toledo and Guadalajara.

Audax Renovables has been committed for years to the development of renewable energies to achieve a sustainable energy transition, in accordance with the trend that the European Union is promoting, and to continue generating quality both employment and growth. Just a few weeks ago, work began on many other photovoltaic projects in the provinces of Guadalajara, Toledo and Huelva.

For the construction of both projects, in Ready to Built status due to the advanced state of the permits referred to them, and that therefore aforementioned construction work will begin shortly, the Group ensures its accompaniment with first-rate contractors that meet high quality standards, and has an advanced process of closing supply and construction contracts under the EPC (turnkey) mode.

In part, both projects have been acquired thanks to the funds obtained from the second issuance of green bonds that Audax Renovables carried out a few weeks ago, amounting 200 million euros, and the issuance of green bonds eventually convertible into shares for amount of 125 million euros. The rest will be financed with own resources.

These projects are still framed within the Audax Renovables Group’s strategy to increase its 100% renewable generation portfolio, and therefore it is focused on closing other purchase agreements with the aim of supplying its customers with renewable energy produced in their own plants.

About Audax Renovables

The Group is the result of a merger by absorption between Audax Renovables, S.A. and its parent company, Audax Energía, S.A., which gave rise to an energy group whose business involves generating 100% renewable energy as well as supplying 100% renewable electricity and gas.

Founded in the year 2000, in 2003 Audax Renovables became listed on the secondary market of the Barcelona Stock Exchange, and in 2007 its shares were included in the SIBE (integrated stock exchange system) of the Madrid Stock Exchange. 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 a leading utility Group in the SME segment in Spain, Audax Renovables guarantees efficient supply of energy retailed through a process of vertical integration with the renewable energy generation branch, has a robust financial position and is ready to be at the forefront of the energy transition in the European market.

The Group runs a portfolio of operating wind farms of 91 MW in Spain, France and Poland. Moreover, it has a portfolio of photovoltaic projects of 320 MW in Spain, 15 MW of which will be put into operation in the next weeks, and another 40 MW are currently under construction. Likewise, the Group has a wind project under construction in Panama, of 66 MW.

Audax Renovables, operating as a 100% renewable energy and gas supplier, is present in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, with over 515 thousand customers and 15 TWh supplied in 2020.

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