Audax Renovables begins the construction of its largest photovoltaic project in Andalusia
With an investment of approximately 46 million euros, the Lucero project will have a total power of 57.48 MWp.
The future project is located in the municipality of Carmona, province of Seville.
This is the largest photovoltaic project built to date by the Group.
December 21, 2023.– Audax Renovables (ADX.MC), a vertically integrated Spanish energy group with renewable 100% generation and supply of electricity and gas to customers in 7 European countries, and which has an international presence in 9 countries, has announced the start of construction of a project photovoltaic plant located in the municipality of Carmona, in the province of Seville, which will add a total power of 57.48 MWp to the Group's generation portfolio.
In line with its strategy of continuing to promote its generation activity through the different projects that make up its portfolio, and thus strengthening its vertical integration strategy, Audax Renovables plans to invest approximately 46 million euros, including development costs.
The project will have approximately 100,000 575 Wp modules with 1-axis Tier-1 tracker, which will generate 109 GWh/year, the equivalent of the energy consumption of about 33,319 homes and around 83,282 people. Its commitment to clean energy will avoid the emission into the atmosphere of some 29,757 tons of CO2 per year.
This installation will be connected to the Carmona 400 kV substation and will have its own evacuation line of just over 8 kilometers and common infrastructure already executed consisting of: a 220/30 kV substation (Dulcero) shared with another promoter, a of 4.8 km 220 kV and a 400/220 kV collector substation to inject the energy produced into the REE Carmona 400 kV Substation. The construction period is estimated to be approximately one and a half years. The Group ensures the accompaniment of the works with top-level contractors who meet high quality standards, all under the EPC (turnkey) contract modality.
The Lucero project represents a new challenge for Audax Renovables, being the largest photovoltaic plant built to date by the Group and which will involve the greatest mobilization of resources in the Company's generation activity.
For the construction of the aforementioned project, the Group already has financing, coming from the operation that closed a few days ago through the European Investment Bank (EIB). Said financing will be without recourse, following the same structure as in other previous projects in the Audax Renovables generation portfolio.
Audax Renovables currently has 245.36 MW of power already installed and 10.86 MWp in the start-up phase of the Cuatro Caminos 1 and 3 photovoltaic projects. Likewise, it is in an advanced phase of construction of the plants. of Cuatro Caminos 2 and 4 and El Rebollo with a total combined power of 14,975 MWp.
With this operation, the Group strengthens its commitment and strategy to increase its renewable 100% generation portfolio by increasing its portfolio, either through organic growth or by closing purchase agreements, with the aim of supplying its clients with energy of renewable origin produced in their own plants.
In a year in which during the first nine months of the year the Group has reported a gross operating profit (EBITDA) of 77.3 million euros, the present operation, together with future operations to come, will reinforce growth organic expected for the coming years, in which the Group hopes to be able to maintain annual EBITDA around 100 million euros in a stabilized manner.
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Ginés Cañabate - firstname.lastname@example.org | (+34) 649 214 470
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About Audax Renewables
Founded in the year 2000, Audax Renovables is a vertically integrated Spanish energy group that generates energy from 100% renewable sources and supplies electricity and gas, with a presence in 9 countries.
Currently, it has a portfolio of wind and photovoltaic projects in operation, under construction and in different phases of development in Spain, Portugal, Italy, France, Poland and Panama, which reaches 1.4 GW. In its marketing activity, the group chaired by José Elías Navarro provides electricity and gas to more than 373 thousand customers in Spain, Portugal, Italy, Germany, Poland, Holland 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 it made the leap to the continuous market. Currently, it is part of the IBEX Small Cap® and MSCI World Small Cap indices. Its market capitalization exceeds 550 million euros, and it has a team of approximately 800 professionals.