AUTHORIZED FOR COMMISSIONING OF A 5MWp PHOTOVOLTAIC SYSTEM

Audax Renovables has obtained the official authorization to start operating the photovoltaic plant of “Cañamares”. Located in Fontamar (Guadalajara), in the region of Castilla-La Mancha, the new plant has a power of 5 MWp.

In reality, the “green light” should have arrived some time earlier if the health emergency situation had not affected the authorization procedures, naturally slowed down by the confinement and closure measures that the authorities have taken to combat the spread of COVID-19.

The authorization procedures for the photovoltaic systems “Carolina I and II” of 10 MWp in total and located in the municipality of El Casar (also near Guadalajara) are also nearing completion: in fact, the official announcement is expected shortly.

The sale of energy generated in the plants (Cañamares and Carolina I and II) is regulated by a PPA contract (Power Purchase Agreement) stipulated with the owner company, i.e. Audax Renovables.

In fact, these projects did not need financing from third parties, having recovered the necessary resources from the issuance of Green bonds made at the end of the previous financial year.

Over the next few weeks, Audax Group will continue to keep the market and investors informed about the progress of its portfolio generation projects.

These are operations that find space within the company strategy of increasing renewable 100% generation through the stipulation of other agreements; the aim is to ensure that the green energy supplied comes increasingly from owned plants.