COMMISSIONING AUTHORIZED FOR A 5MWp PHOTOVOLTAIC SYSTEM

Audax Renovables has obtained the official authorization to put the “Cañamares” photovoltaic plant into operation. Located in Fontamar (Guadalajara), in the Castile-La Mancha region, the new plant has a capacity of 5 MWp.

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

The authorization procedures for the “Carolina I and II” photovoltaic plants 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 soon.

The sale of the 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, namely Audax Renovables.

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

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

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