Audax divests stake in 58.6 MW of Spanish wind and solar assets

Audax Renovables (Audax) has proceeded during the last week of July to reduce more than EUR100 million (US$111 million) of debt. Part of the funds required for this purpose have been obtained through the sale of two renewable energy generation facilities in eastern Spain with a total installed capacity of 58.6 MW.

Audax has sold the 100% stake, along with all associated loans, in Parc Eolic Mudefer SL, the company behind the 57.6 MW wind farm. Helia Renovables II FCR, a fund managed by Madrid-based Plenium Partners Asset Management SGEIC SA, has acquired the Mudefer II wind asset in Tarragona.

Audax has also shed 76% of its stake in Gestora Fotovoltaica de Castellon SL, the company that owns the 1 MW Les Coves de Vinroma PV project. Minerva Renovables SA, a firm managed by Madrid-based renewables operator Kira Renovables SL, has purchased the solar farm.

Financial details of the sale were not disclosed.