AUDAX RENOVABLES: BEGINNING THE CONSTRUCTION OF A NEW PHOTOVOLTAIC PARK

Badalona (Barcelona), 20 January 2020 - Audax Renovables, a Spanish company whose business is divided between the marketing of electricity and gas and the generation of renewable 100% electricity, 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 Castile-La Mancha region.

In reality, the agreement, which will soon be followed by the start of work, was formally signed by Da Vinci Energías SLU, a company controlled at 100% 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. Another EPC is expected to be signed in the coming weeks, 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-mentioned projects will lead to a 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 realization of these works is fully within the strategic lines of the Audax Group, i.e. increasing the "photovoltaic portfolio" to provide more and more renewable energy from owned plants.

Not only. Among the Group's objectives for 2022 are the growth in 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 expects to exceed 1,500 million euros in turnover and bring Ebitda above 100 million euros, reducing financial debt so as to optimize the Group's resources and create value for shareholders.