The El Rebollo power plant will have a capacity of 4.12 MW, and the value of the investment will amount to approx. EUR 2.6 million.
The power plant will be located in the municipality of Yunquera de Henares in the province of Guadalajara.

DECEMBER 29, 2022 - Audax Renovables (ADX.MC) - a Spanish vertically integrated energy group that produces and supplies 100% renewable electricity and gas to customers in seven countries - announced the start of construction of a photovoltaic power plant located in the municipality of Yunquera de Henares, in province of Guadalajara, with a total capacity of 4.12 MW.

In accordance with the strategy assuming the development of production activities by including numerous new power plants in the company's portfolio, Audax Renovables intends to invest approximately EUR 2.6 million in this construction.

The power plant will be equipped with 7,482 modules with a power of 550 W with a single-axis Tier-1 solar tracker, which will generate 7.7 GWh of electricity per year. This corresponds to the needs of almost 2,100 households and about 6,800 people. Thanks to the fact that the energy will come from renewable sources, it will be possible to avoid the emission of approx. 1,600 t of CO2 into the atmosphere annually.

The power plant will be connected to the Yunquera de Henares substation and will have its own power line of just over 2.5 km. Construction is estimated to take about a year, as work will have to be interrupted between March and June for environmental reasons. The works will be carried out by reputable contractors, ensuring high quality standards, and after the works are completed, the investment will be handed over in turnkey condition (EPC).

Negotiations regarding obtaining financing for the construction of the power plant are currently at a very advanced stage. It will be non-recourse financing, on the same basis as in the case of previously built power plants included in the portfolio of Audax Renovables.

Audax Renovables currently has 226 MW power plants already in operation and 19.2 MW installations in the commissioning phase - these are the La Miranda and Zaratán 1 and 2 photovoltaic power plants. The Cuatro Caminos photovoltaic power plants with a capacity of 21, 87 MW.

The construction of these power plants is part of the strategy of the Audax Group, which aims to increase the portfolio of 100% renewable installations owned - either through organic growth or by concluding sales contracts. All this to be able to provide customers with electricity from RES from the Group's own power plants.

At the same time, it should be emphasized that neither this nor any other power plant in the Audax Renovables portfolio is affected by the inflation mitigation decree passed by the Spanish government on December 27 last year, imposing an eighteen-month moratorium on RES power plants that have not yet obtained permission to connect to the grid . All power plants in the Group's portfolio have the necessary permits for access and connection to the grid.