Audax buys 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 100% renewable electricity and gas generation and marketing businesses, continues its strategy of relentlessly 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 various 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 involve the joint installation of approximately 30,000 solar panels, which will produce 16 GWh of energy per year, which is equivalent to the annual consumption of more than 4,600 homes.

The Group continues to promote its commitment to renewable energy generation facilities, these facilities being the continuation of other successive ones 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 shift being promoted by the European Union, and to continue generating quality 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 a Ready to Built state due to the advanced stage of processing the permits referred to them, and therefore said construction work will begin shortly, the Group ensures its support with top-level contractors that meet high quality standards, and are in the advanced process of closing supply and construction contracts under the EPC (turnkey) modality.  

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 and which amounts to 200 million euros and the issuance of green bonds eventually convertible into shares by amount of 125 million euros. The rest will be financed with own resources.

These projects continue to be framed within the Audax Renovables Group's strategy of increasing its 100% renewable generation portfolio, and therefore it is focused on closing other purchase agreements with the aim of supplying its clients with renewable energy produced in their own floors.

About Audax Renewables 
The Group is the result of the merger by absorption between Audax Renovables, SA and its parent company, Audax Energía, SA, giving rise to an energy group whose activities focus on the production of renewable energy 100%, as well as the supply of electricity 100% renewable and gas.
Founded in the year 2000, in 2003 Audax Renovables began to be listed on the secondary market of the Barcelona Stock Exchange and in 2007 it was listed on the SIBE of the Madrid Stock Exchange. Currently, it is listed on the Spanish Continuous Market under the name (ticker) ADX.MC, having been incorporated into the IBEX SMALL CAP® index on March 23, 2020.

We are the leading energy group in the SME segment in Spain, guaranteeing an efficient supply of marketed energy through a process of vertical integration with renewable generation activity, with a solid financial position, and prepared to lead the energy transition in the European market.
The Group manages a portfolio of 91 MW generation projects in operation in Spain, France and Poland in wind farms. In addition, it has a portfolio of 320 MW photovoltaic projects in Spain, 15 MW of which will come into operation in the coming weeks, while another 40 MW are currently under construction. Likewise, the Group also has a 66 MW wind project under construction in Panama.

Audax Renovables, in its activity of marketing renewable 100% electricity and gas, is present in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, adding more than 515 thousand customers and 15 TWh supplied in 2020.

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