AUDAX RENOVABLES: GREEN BOND FOR THE CONSTRUCTION OF 40 MW OF PHOTOVOLTAIC

Audax Renovables, a company whose business is divided between the marketing of electricity and gas and the generation of renewable 100% electricity, has launched its first “green bond” issue for an amount equal to 20 million euros.

The operation is part of the MARF fixed income bond program, the Mercado Alternativo de Renta Fija (“Programa de Bonos del MARF”), for a maximum nominal amount of 400 million euros that Audax has established in the past month of July.

The aforementioned Program allows bond issues to be named and considered as "green bonds", in accordance with the regulatory framework of reference for the green financing approved last June. A framework which, according to the judgment of Vigeo Eiris - a European rating agency specializing in social and environmental issues - meets the criteria established by the International Capital Market Association (ICMA) and for which it has obtained the highest level of guarantee.

This first issue of "green" bonds - with a two-year maturity - has as its objective the construction of 8 plants For photovoltaic energy generation. All located in Spain, they are distributed as follows: 4 located near Toledo (La Zarzuela I, La Zarzuela II, La Zarzuela III and La Zarzuela IV) and with the capacity of 5 MW each; another 4 near Guadalajara (Las Alberizas I, Las Alberizas II, Las Alberizas III and Las Alberizas IV), also with capacity of 5 MW each, For a total of 40 MW.

It is important to underline that construction work on the above-mentioned plants will begin in the next few weeks, as Audax already holds the necessary permits. In total, these photovoltaic parks will generate 65 GWh/year of green energy, an amount equivalent to the annual energy consumption of 19,000 families.

Even in this situation, it emerges how much Audax Renovables focuses on the growth of renewable energy production, committing itself to ensuring that the investment and development strategy of its business is always in line with the Group's values, decidedly oriented towards environmental sustainability.

The operation described was advised by PKF Attest Servicios Empresariales SL, by Banco de Sabadell, SA as paying agent and by the Spanish branch of Haitong Bank SA, as Distributor. Legal advisor was the law firm J&A Garrigues, SLP

This issue has attracted great interest among investors and, in particular, both among those who regularly purchase bonds of the company, and among international investors who require a "green" certification on such bonds. An important result considering that for Audax Renovables this is the first bond issue that meets the strict requirements necessary to be qualified as "green".