Vigeo Eiris has provided a Second-Party Opinion on the sustainability credentials and management of Audax Renovables’ Green Financing Framework created to govern their issuances
The future financial operations governed by the Green Financing Framework will finance and/or refinance the acquisition, construction and operation of power generation plants from 100% renewable sources, solar and wind, which will allow the offering of renewable energy supply to its customers.
Additionally, the net proceeds of the financial operations will also finance and/or refinance the acquisitions of companies that guarantee the energy offered to its customers in the future is of 100% renewable origin, and will offer new products to improve energy efficiency and save consumption.
We assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Green Financing Instruments issued by Audax Renovables. Vigeo Eiris is of the opinion that the Green Financing Framework is aligned with the four core components of the Green Bond Principles (2018) and expressed a reasonable assurance (our highest level of assurance) on the contribution of the contemplated Green Instruments to sustainability.
Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, the Americas and Asia. We were the 3rd biggest SPO provider in the market by number of deals in 2019 and are a Climate Bonds Standard Approved Verifier.
Audax Renovables S.A. is a Spanish-based holding company whose activities are focused on the supply of electricity and gas, as well the development, construction and production of 100% renewable energy. Audax supplies electricity and gas to both private and corporate clients, mainly SMEs, through its Supply division which is present in Spain, Portugal, Italy, Germany, Poland and the Netherlands, with around 365,000 clients. Additionally, the issuer, through its generation division, produces electricity from renewable sources such as wind and solar energy operating in Spain, France, Poland and Panama.