Audax Renovables: strategic agreement with Shell

February 2023 | Audax Renovables has signed a strategic agreement with Shell Energy Europe Limited for the supply of electricity and gas in Spain. In this way, Audax secures both a competitive supply of electricity and gas and the strategic advantage of sustainable and profitable growth.

The agreement provides Audax with greater opportunities for future direct access to the wholesale market, immediately improving its cash position and increasing its competitiveness, thus offering product differentiation to its customers.

Furthermore, the agreement signed also gives Audax Renovables a new impetus to achieve the objectives of its strategic plan based on the vertical integration of generation and supply activities and a solid financial position.

For José Elías, president of the Audax group, “This partnership demonstrates the company's unwavering commitment to its customers and shareholders to ensure an efficient energy supply, optimizing management through a careful cost control strategy and attractive growth opportunities. The transaction, which has an immediate impact on our cash position, will also give us a greater competitive advantage in a complex market environment and will allow us to grow steadily without worrying about market price fluctuations”.

Audax, which closed the third quarter of 2022 with more than 396,000 supply points, thus strengthens its growth plans in Spain, placing itself in a good position to increase its customer portfolio over the next year.

The transaction was carried out with the support of the law firm Garrigues and the asset management company Alantra.