The 20 MW facility in Escalonilla, in the province of Toledo, will produce 32.4GWh a year, which is equivalent to the amount of energy used by 9,400 households

Audax Renovables (ADX.MC), the energy group whose activities involve generation and retail of 100% renewable electricity, has pushed forward with its energy generation projects by commencing the construction of a 20 MWp power plant in the province of Toledo.

Today Audax Renovables commenced the construction of another 20 MW in the photovoltaic plants of La Zarzuela I, II, III and IV located in the municipality of Escalonilla in the province of Toledo, which will comprise 59,760 solar panels and will produce 32.44 GWh a year, equivalent to the amount of energy consumed yearly by more than 9,400 households.

The Audax Group remains clearly committed to the construction of renewable energy generation facilities, and this new investment worth €9.2 million is the first project built by the Group in Toledo.

For several years Audax has been part of the movement of developing renewable energy in order to attain sustainable energy transition, in line with the trend stimulated by the European Union, and with the aim of continuing to create jobs and foster quality growth. Just last week construction works were commenced on four power plants in the municipality of Torija in the province of Guadalajara, therefore the Group’s investment in Castilla la Mancha reached €25 million within months.

In the construction of these projects Audax Renovables makes sure to work with the best contractors who meet high quality standards, and to that aim has signed an EPC contract with Risen Energy Spain, S.L. (belonging to the Risen Energy Co. Ltd group) and with ImMODO Fotovoltaica, who have designed the power plant and will go on to supervise all the building process.

Solar power plants currently under construction in the municipalities of Torija and Guadalajara, as well as those going into construction today, will be built partially thanks to the first issue of green bonds carried out by Audax Renovables last September for the amount of €20 million. The remaining cost will be financed using internal funds.

These projects are in line with the strategy of the Audax Group of increasing the generation portfolio with the aim of supplying energy produced from renewable sources by its own power plants.