{"id":13762,"date":"2023-12-07T07:11:54","date_gmt":"2023-12-07T07:11:54","guid":{"rendered":"https:\/\/www.audaxrenovables.com\/en\/?p=13762"},"modified":"2024-07-22T10:39:09","modified_gmt":"2024-07-22T10:39:09","slug":"audax-closes-the-financing","status":"publish","type":"post","link":"https:\/\/www.audaxrenovables.com\/en\/audax-closes-the-financing\/","title":{"rendered":"Audax Renovables closes, through the EIB, the financing for the construction of 141MWp of photovoltaic plants in Spain"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"13762\" class=\"elementor elementor-13762\">\n\t\t\t\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-6314da46 elementor-section-content-middle elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"6314da46\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-20 elementor-top-column elementor-element elementor-element-1bc06728\" data-id=\"1bc06728\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ddce908 elementor-widget elementor-widget-image\" data-id=\"7ddce908\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! 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elementor - v3.7.8 - 02-10-2022 *\/\n.elementor-heading-title{padding:0;margin:0;line-height:1}.elementor-widget-heading .elementor-heading-title[class*=elementor-size-]>a{color:inherit;font-size:inherit;line-height:inherit}.elementor-widget-heading .elementor-heading-title.elementor-size-small{font-size:15px}.elementor-widget-heading .elementor-heading-title.elementor-size-medium{font-size:19px}.elementor-widget-heading .elementor-heading-title.elementor-size-large{font-size:29px}.elementor-widget-heading .elementor-heading-title.elementor-size-xl{font-size:39px}.elementor-widget-heading .elementor-heading-title.elementor-size-xxl{font-size:59px}<\/style><h1 class=\"elementor-heading-title elementor-size-default\">Audax Renovables closes, through the EIB, the financing for the construction of 141MWp of photovoltaic plants in Spain<\/h1>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4b7e33d elementor-widget elementor-widget-bdt-breadcrumbs\" data-id=\"4b7e33d\" data-element_type=\"widget\" data-widget_type=\"bdt-breadcrumbs.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<div class='bdt-ep-breadcrumbs-wrapper'><ul class=\"bdt-ep-breadcrumb  breadcrumb-align-center \"><li><a href=\"https:\/\/www.audaxrenovables.com\/en\/\">Audax Renovables<\/a><\/li>\n<\/ul><\/div>\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-48404194 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"48404194\" data-element_type=\"section\">\n\t\t\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-539c892d\" data-id=\"539c892d\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5a181db8 elementor-widget elementor-widget-text-editor\" data-id=\"5a181db8\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.8 - 02-10-2022 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#818a91;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#818a91;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<h3>\u00a0<\/h3><h3><strong><span style=\"color: #ff9900;\">\u25aa <\/span><span style=\"color: #ff9900;\">With this operation, Audax strengthens its commitment to renewable energies through its vertical integration, from generation to supply.<\/span><\/strong><\/h3><h3><strong><span style=\"color: #ff9900;\">\u25aa <\/span><span style=\"color: #ff9900;\">\u00a0The transaction, led by the European Investment Bank (EIB), will enable the Group to move forward with the construction of 141 MWp of photovoltaic facilities in Spain with financing of 66 million euros.<\/span><\/strong><\/h3><p>\u00a0<\/p><p><strong>DECEMBER 7, 2023.-<\/strong> Audax Renovables (ADX.MC), a vertically integrated Spanish energy group with 100% renewable generation and electricity and gas supply to customers in 7 European countries, and with an international presence in 9 countries, has secured institutional financing for the construction of a portfolio of 12 photovoltaic energy projects in Spain. This financing, amounting to 66 million euros and led by the European Investment Bank (EIB), will promote the commissioning of a solar portfolio with a total capacity of 141 MWp.<\/p><p>\u00a0<\/p><p>Through this transaction, the Group is able to consolidate its vertical integration strategy, strengthening its presence in the area of renewable energy generation, where it has a pipeline of assets distributed among Spain, Portugal, Italy, France, Poland and Panama that exceeds 1,000MW. The projects that are the object of this operation are in operation, under construction and in the Ready to Build (RtB) phase. Once this entire portfolio comes into operation, Audax will have more than 380 MW in operation, thus confirming its strong commitment to renewable energies, sustainability and, in short, the energy transition.<\/p><p>\u00a0<\/p><p>In the current context of the debt market, the transaction is very positive, as the Group is securing financing for the development of solar power generation assets in order to continue its commitment to vertical integration. Thanks to this strategy, the Group will continue to increase the resources allocated to reducing corporate leverage, in line with its strategy of sustainable improvement of the financial position expected for the coming years.<\/p><p>\u00a0<\/p><p>At the beginning of 2023, the company closed a strategic agreement with the British company Shell for the supply of electricity and gas in Spain, which has had a very positive impact on the Group&#8217;s cash generation and operating profit. During 2023, the company has used the excess cash generated to significantly reduce its debt.<\/p><p>\u00a0<\/p><p>\u00a0In a year in which during the first nine months of the year the Group reported EBITDA of 77.3 million euros, this transaction will reinforce the organic growth expected for the coming years, in which the Group expects to be able to maintain annual EBITDA at around 100 million euros in a stabilized manner.<\/p><p>In this transaction, Alantra acted as financial advisor and coordinator of the transaction, while Garrigues and Clifford Chance acted as legal advisors to the company and the lender, respectively.<\/p><p>\u00a0<\/p><p><strong>\u00a0<\/strong><\/p><p><strong>\u00a0<\/strong><\/p><p><strong>For more information:<\/strong><\/p><p>Roman &#8211; Gin\u00e9s Ca\u00f1abate<\/p><p>g.canabate@romanrm.com | (+34) 649 214 470<\/p><p>\u00a0<\/p><p>Patricia Gonz\u00e1lez &#8211;\u00a0p.gonzalez@romanrm.com | (+34) 915 915 500<\/p><p>\u00a0<\/p><p>\u00a0<\/p><p><strong>About Audax Renovables<\/strong><\/p><p>Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates energy from 100% renewable sources and supplies electricity and gas across 9 countries.<\/p><p>It currently has a portfolio of wind and photovoltaic projects in operation, under construction and at different stages of development in Spain, Portugal, Italy, France, Poland and Panama, totalling 1.4 GW. In its retail activity, the group chaired by Jos\u00e9 El\u00edas Navarro supplies electricity and gas to around 373 thousand customers in Spain, Portugal, Italy, Germany, Poland, The Netherlands and Hungary, and leads the SME segment in Spain as an independent marketer. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market. It is currently included in the IBEX Small Cap\u00ae and MSCI World Small Cap\u00ae indexes, has a market capitalisation of more than EUR 500 million, and employs a team of approximately 800 professionals.<\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a244bf1 elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"7a244bf1\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.7.8 - 02-10-2022 *\/\n.elementor-widget-divider{--divider-border-style:none;--divider-border-width:1px;--divider-color:#2c2c2c;--divider-icon-size:20px;--divider-element-spacing:10px;--divider-pattern-height:24px;--divider-pattern-size:20px;--divider-pattern-url:none;--divider-pattern-repeat:repeat-x}.elementor-widget-divider .elementor-divider{display:-webkit-box;display:-ms-flexbox;display:flex}.elementor-widget-divider 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from generation to supply. \u25aa \u00a0The transaction, led by the European Investment Bank (EIB), will enable the Group to move forward with the construction of 141 MWp of photovoltaic facilities in Spain with financing of 66 million euros. 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