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 ensures, at the same time, a competitive supply of electricity and gas and the strategic advantage of sustainable and profitable growth.

The agreement guarantees Audax greater possibilities for future and direct access to the wholesale market, immediately improving its cash position and increasing its competitiveness, so as to offer product differentiation to its customers.

Furthermore, the signed agreement 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 on 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 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 allow us to grow steadily without worrying about market price fluctuations”.

Audax, which closed the third quarter of 2022 with over 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 operation was carried out with the support of the Garrigues law firm and the asset management company Alantra.