Audax Renovables signs a strategic agreement with Shell Energy Europe Limited for the purchase of energy in Spain
The British multinational will become the exclusive supplier of gas and electricity for the Audax Group in Spain, who will benefit from an energy supply after signing a Market Access agreement.
The agreement has an immediate impact on Audax's "working capital" (working capital), giving it greater access to the market and, in turn, promoting the objectives set out in its strategic plan.
February 1, 2023.– Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 countries, has signed a strategic agreement with Shell Energy Europe Limited, worldwide reference energy company, to supply you with electricity and gas in Spain. Through this agreement, Audax ensures a competitive electricity and gas supply, a strategic advantage for sustainable and profitable growth.
The agreement ensures better access for Audax to future positions than going directly to the wholesale market, and will immediately improve Audax's cash position, while boosting its competitiveness in the market to offer differential products to its customers.
The strategic agreement, which improves Audax's competitiveness in the Spanish market, also represents a new impetus for the achievement of the objectives of its strategic plan based on the vertical integration of its generation and commercialization activities and on a solid financial position.
For José Elías, president of the Audax group, “this alliance demonstrates the firm commitment that the company maintains with its customers and shareholders to guarantee an efficient supply of energy, optimizing our management with a thoughtful cost control strategy and interesting growth opportunities. The operation, which has an immediate effect on our treasury position, will in turn give us a greater competitive advantage in a complex market situation and will allow us to grow sustainably without worrying about market price fluctuations”.
Audax, which closed the third quarter of 2022 with more than 396,000 supply points, thus reinforces its growth plans in Spain, placing it in a good position to increase its customer base during the coming year.
For the development of the operation, the company has had the advice of top-level firms such as Garrigues and Alantra.
For more information:
Roman
Gines Canabate
g.canabate@romanrm.com | (+34) 649 214 470
Patricia Gonzalez
p.gonzalez@romanrm.com | (+34) 602 251 600
About Audax Renewables
Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100 % energy from renewable sources and supplies electricity and gas to customers in 7 European countries.
Currently, it has a portfolio of wind and photovoltaic farms in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and in different phases of development that exceeds 2 GW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 396,000 customers in Spain, Portugal, Italy, Germany, Poland, the Netherlands and Hungary, and leads the SME segment in Iberia. Audax began trading on the Spanish secondary market in 2003, and in 2007 made the leap to the continuous market, where it became part of the IBEX SMALL CAP ® index in March 2020. Currently, its market capitalization exceeds 600 million euros, and has a team of more than 800 professionals.
