Audax Renovables is continuing its expansion in solar power generation with the construction of a new photovoltaic plant in Navalmoral de la Mata, Cáceres province, Spain. The investment amounts to EUR17mn ($18.4mn), fully secured via non-recourse structured financing from the European Investment Bank (EIB). The site, equipped with 37,368 bifacial modules, will reach a total installed capacity of 21.88 megawatt-peak (MWp).
Capacity and expected annual output
The plant, divided into four sections of 5.47 MWp each, targets annual production of 42 gigawatt-hours (GWh). This output is equivalent to the yearly electricity consumption of approximately 14,000 households or 35,000 people. The electricity produced will be fed into the grid via a 20-kilovolt (kV) transmission line over 7,151 metres, enabling efficient supply to the service area.
The project forms part of Audax Renovables’ growth strategy, managing a 100% renewable production portfolio of 1,037 MW, incorporating wind and solar assets. Of this total, 267 MW are currently operational, 84 MW are under construction and expected online before the end of 2025, and 686 MW remain under development.
Financing and portfolio diversification
The construction of the Navalmoral de la Mata plant benefits from structured financing by the EIB, strengthening Audax’s capacity to invest in new assets without recourse to its own funds. This approach, already used on other projects in the portfolio, allows the group to expand its presence in Spain while maintaining a vertically integrated model combining energy generation and supply.
In parallel, Audax Renovables is beginning construction of another solar plant in Talavera de la Reina, Toledo province, with an installed capacity of 5.5 MWp, to be connected to the existing distribution network. The Spanish group continues to increase its market share in Europe, currently operating renewable assets in Spain, Portugal, Italy, Panama, Poland, and France, and supplying energy in seven European countries.
Deployment and regional outlook
The group supplies 15.5 terawatt-hours (TWh) of energy annually, including 10.6 TWh of electricity and 4.9 TWh of gas, to clients across several Central and Western European markets. The company is focusing on geographic diversification and integrating new renewable assets to consolidate its presence in a competitive sector marked by the rise of large-scale solar generation solutions.
According to Marc Farriol, Managing Director of Power Generation at Audax Renovables, the launch of this new site strengthens the group’s expansion strategy and vertically integrated model in the renewable power generation sector.
