Audax Renovables, a vertically integrated Spanish energy group that produces and supplies 100% renewable electricity and gas to customers in seven countries, has announced the start of construction of one photovoltaic (PV) project located in the municipality of Yunquera de Henares, in the province of Guadalajara, Spain, 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 in its construction.
The project will have 7482 x 550 Wp modules with 1-axis tracker category Tier-1, which will generate 7.7 GWh/y, equivalent to the energy consumption of approximately 2100 households and approximately 6800 people. Its commitment to clean energy will prevent the emission of some 1600 tpy of CO2 into the atmosphere.
This facility will be connected to the Yunquera de Henares substation (STR) and will have its own transmission line measuring over 2.5 km, 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 PV projects, as well as 21.87 MWp under construction of the Cuatro Caminos PV 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 27 December to mitigate the effects of inflation, which imposes a moratorium of 18 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.
