AUDAX RENOVABLES INCORPORATES NEW PHOTOVOLTAIC PROJECTS
The Group continues to boost its portfolio of photovoltaic projects by adding new projects totalling 33 MW
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.
Specifically, the Company has reached a purchase agreement with Idena Solar company for the incorporation of projects totalling up to 69 MWp, detailed down as follows.
In the town of Cabanillas del Campo (Guadalajara) the Company has acquired the Cuatro Caminos 1, 2, 3 and 4 projects, with the first two adding 6.875 MWp of power, while the second two will add 4.125 MWp each, making a total of 22 MWp. This Complex will have the whole installation of approximately 55,000 solar panels, which will produce some 43 GWh per year of energy, equivalent to the annual consumption of more than 12,300 households.
Likewise, in the town of Jadraque, also in the province of Guadalajara, the Matillas project, of 5.5 MWp. On the other hand, in the municipality of Taracena (Guadalajara) the El Cañal project will add 5.5 MWp photovoltaic to the Group’s portfolio. Both projects will have the joint installation of approximately 27,500 solar panels, which will produce about 17 GWh of energy per year, which is equivalent to the annual consumption of around 4,800 households.
It is worth mentioning that the Cuatro Caminos 1, 2, 3 and 4, Matillas and El Cañal projects are in an advanced state of processing, on the verge of achieving “ready to build” status.
Additionally, also with the company Idena Solar, a purchase agreement has been reached through which the Audax Group will take a 51% stake in the capital of various vehicle companies that own projects of up to a maximum of 36 MWp of nominal power, which have reached the “ready to build (RTB)” status, that is, of those projects that have all the assets, licenses and authorizations required for construction.
All the projects detailed, together with those already announced by the Group in recent months, bring the portfolio of photovoltaic projects to 400 MW, which will continue to increase gradually throughout this year and beyond, in line with the Group’s strategy.
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.
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 facilities.
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 331 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.