Audax Renovables S A : begins construction of another 4MWp

• With an investment of approximately 2.6 million euros, EL Rebollo project will have a total power of 4.12 MWp.
• The future project is located in the municipality of Yunquera de Henares, in the province of Guadalajara..

29 DECEMBER 2022.- Audax Renovables (ADX.MC), a vertically integrated Spanish energy group that produces and supplies 100% renewable electricity and gas to customers in 7 countries, has announced the start of construction of one photovoltaic project located in the municipality of Yunquera de Henares, in the province of Guadalajara, with a total capacity of 4,12 MWp, which are added to the Group's portfolio.

In line with its strategy of continuing to promote its generation activity through the different projects that make up its portfolio, Audax Renovables plans to invest approximately 2.6 million euros in its construction.

The project will have 7,482 x 550 Wp modules with 1-axis tracker category Tier-1, which will generate 7.7 GWh/year, equivalent to the energy consumption of almost 2,100 households and about 6,800 people. Its commitment to clean energy will prevent the emission of some 1,600 tonnes of CO2 into the atmosphere each year.

This facility will be connected to the Yunquera de Henares substation (STR) and will have its own transmission line measuring over 2.5 kilometers, with an estimated construction period of approximately 1 year, as it contemplates a biological shutdown for the period from March to June. The company assures the supervision of the works with first class contractors that comply with high quality standards under the EPC (turnkey) contract modality.

For the construction of the aforementioned project, the Group is at a very advanced stage of negotiations to obtain the appropriate financing. This financing will be non-recourse, following the same structure as other previous projects in the Group's operating portfolio.

Audax Renovables currently has 226 MW of installed capacity and 19.2 MWp in the start-up phase, related to the La Miranda and Zaratán 1 and 2 photovoltaic projects, as well as 21.87 MWp under construction of the Cuatro Caminos photovoltaic projects.

These projects are part of the Audax Group's firm commitment and strategy to increase its 100% renewable generation portfolio by increasing its production portfolio, either through organic growth or by closing purchase deals, with the aim of supplying its customers with renewable energy produced at its own plants.

It should also be noted that neither this project nor any of those in the Audax Renovables portfolio are affected by the Decree approved by the Spanish Government on December 27 to mitigate the effects of inflation, which imposes a moratorium of eighteen months for those renewable projects that do not yet have the necessary grid access and connection permits, since all the projects in the Group's portfolio have the necessary grid access and connection permits.

For further information:

Roman

Ginés Cañabate
[e-mail] | ([phone]

Patricia González
[e-mail] | ([phone]

About Audax Renovables

Founded in 2000, Audax Renovables is a vertically integrated Spanish energy group that generates 100% renewable energy and supplies electricity and gas to customers in seven European countries. It currently has a portfolio of wind farms and photovoltaic plants in Spain, Portugal, Italy, France, Poland and Panama in operation, under construction and at different stages of development, amounting to 2,536 MW. In its marketing activity, the group chaired by José Elías Navarro supplies renewable energy and gas to more than 396,000 customers in Spain, Portugal, Italy, Germany, Poland, Holland and Hungary, and spearheads the SME segment in Iberia. Audax was first listed on the Spanish secondary market in 2003, and in 2007 it made the leap to the continuous market, where it became part of the IBEX SMALL CAP® index in March 2020. In the first 9 months of 2022, its turnover reached 2,033 million euros, and it has a team of more than 800 professionals.