AUDAX RENOVABLES: START OF CONSTRUCTION OF A NEW PHOTOVOLTAIC PARK

Badalona (Barcelona), January 20, 2020 - Audax Renovables, a Spanish company whose activity is divided between the marketing of electricity and gas and the generation of renewable electricity 100%, has signed a “turnkey” or EPC contract (Engineering, Procurement and Construction) for the construction of the Cañamares photovoltaic park with a capacity of 5MWp and located near Guadalajara in the region of Castile-La Mancha.

In reality, the agreement, which will be followed shortly by the start of construction, was formally signed by Da Vinci Energías SLU, a company 100% controlled by Audax Renovables, and by Risen Energy Spain SL, belonging to the Risen Energy Co. Ltd. Group.

The contract just signed will not be the only one. In the coming weeks, another EPC is expected to be signed, again with Risen Energy Spain, for the construction of two photovoltaic parks of 10 MWp in total. Called Carolinas I and II, they will also be built in the Guadalajara area.

The development of the above projects will bring the total of 320 MW of photovoltaic generated by Audax Renovables plants; this means providing approximately 600 GWh of green energy per year, which is equivalent to the consumption of over 175 thousand families every 12 months.

The construction of these works falls fully within the strategic lines of the Audax Group, that is, to increase the "photovoltaic portfolio" to provide more and more renewable energy from owned plants.

Not only that. Among the Group's objectives for 2022 are the growth of the number of customers from 305 thousand to 500 thousand and an increase in energy supply up to a total of 15 TWh.

Audax Renovables then plans to exceed 1,500 million euros in turnover and bring the EBITDA above 100 million euros, reducing financial debt in order to optimize the Group's resources and create value for shareholders.