Spanish renewable energy and gas group Audax Renovables SA (BME:ADX) has drawn up a green financing framework that will govern its future bond issuances, the company said.
Audax counted on rating and research agency Vigeo Eiris to provide a second-party opinion and confirm that its financing instruments are aligned with the environmental and sustainability criteria.
Vigeo Eiris said that the company’s net proceeds from the future green bond will be used to finance or refinance acquisitions, construction and operation of 100% renewable power plants.
Audax owns a portfolio of 91 MW of operating wind farms in Spain, France and Poland. It has one 66-MW wind project under construction in Panama and is developing a 320-MW photovoltaic (PV) portfolio in Spain.
According to the Climate Bonds Initiative (CBI), the world has issued USD 14.9 billion (EUR 13.1bn) of certified climate bonds and USD 54.4 billion of green bonds aligned with the CBI criteria so far in 2020.
Audax Renovables is the result of a merger between Audax Renovables itself and its parent company, Audax Energía, which gave rise to an energy group whose business is focused on electricity and gas supplying as well as on the production of 100% renewable energy.
Currently, it is listed on the Spanish Continuous Market under the name (ticker) ADX.MC, having been included in the IBEX SMALL CAP® index on March 23, 2020.
Source Renewables Now