MADRID, 7 Dic. (EUROPA PRESS) -

Audax Renovables has signed a financing contract ('senior facilities agreement') for an amount of 66 million euros for the construction of 12 photovoltaic energy projects in Spain, as reported this Thursday by the company to the National Stock Market Commission (CNMV).

The firm has explained that this financing, led through the European Investment Bank (EIB), will allow the launch of a solar portfolio with a total power of 141 megawatts peak (MWp).

Through this operation, the group has highlighted that it strengthens its "vertical integration" strategy, strengthening its presence in the area of ​​renewable energy generation, where it maintains a 'pipeline' of assets distributed between Spain, Portugal, Italy, France, Poland and Panama that exceeds 1,000 megawatts (MW).

The projects subject to this financing are in operation, construction and the 'ready to build' (RtB) phase.

The firm has assured that, once this entire portfolio comes into operation, it will have more than 380 MW in operation, "thus confirming its strong commitment to renewable energies, sustainability and the energy transition."

The company recalled that at the beginning of 2023 it closed a strategic agreement with the British company Shell for the supply of electricity and gas in Spain, which has had a "very positive" impact on the group's cash generation and operating profit. .

Along these lines, he highlighted that during this year, the company has used the excess cash generated to "significantly" reduce its debt.

He has also indicated that, in a year in which during the first nine months of the year the group has reported a gross operating profit (Ebitda) of 77.3 million euros, this operation "will reinforce the organic growth expected for the next years", in which the company hopes to be able to maintain the annual Ebitda around 100 million euros in a "stabilized" manner.

Alantra has acted as financial advisor and coordinator of the operation, while Garrigues and Clifford Chance have acted as legal advisors to the company and the lender, respectively.