Audax Renovables
Audax Renovables is a vertically integrated Spanish energy group that generates 100% renewable electricity from a 1,037 MW solar and wind portfolio and supplies electricity and gas to over 436,000 residential, SME, and industrial customers across nine European countries.
- Company typePublic
- Founded2000
- HeadquartersBadalona, Spain
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Audax Renovables does
Audax Renovables is a Spanish vertically integrated energy group that generates 100% renewable electricity from a 1,037 MW portfolio of solar and wind assets and supplies electricity and gas to more than 436,000 customers across 9 European countries (Spain, Portugal, France, Germany, Netherlands, Italy, Poland, Sweden, and a pending Norway entry via the Elmera Group bid). The company serves three customer segments: SMEs (primary in Spain), residential consumers, and large commercial and industrial accounts, distributing 10.6 TWh of electricity and 4.9 TWh of gas in 2025. Its core technology combines renewable generation infrastructure with integrated electricity and gas commercialization, augmented by what the company describes as a data-led energy management approach, though specific AI/ML or proprietary platform capabilities are not disclosed in available sources.
The business model rests on three revenue streams: (1) renewable energy generation, monetized through grid injection and internal supply of the retail book; (2) electricity and gas supply on a recurring/commodity basis to retail and B2B customers, with quote-based pricing tailored to consumption profiles; and (3) energy efficiency solutions offered as professional services alongside commodity supply. The company operates a sales-led GTM with direct commercial teams targeting the SME segment in Spain and field/enterprise sales for larger industrial accounts. Revenue is reported in Euros, with FY2025 revenue of €1,884.0 million and adjusted EBITDA of €115.6 million (+0.2% YoY), while adjusted net result was €43.5 million (-1.1% YoY).
Corporate structure and capital structure: Audax Renovables, S.A. is publicly listed on BME (Bolsa de Madrid) under ticker ADX, headquartered in Badalona (Barcelona), Spain, with 501-1,000 employees. The company emerged from the 2018 merger by absorption of its former parent, Audax Energía, S.A. It carries a BBB- investment grade credit rating from EthiFinance Ratings with a positive trend outlook, has been a signatory to the UN Global Compact since 2013, and in 2026 completed a €350 million oversubscribed bond issuance extending debt maturity to 2031. The company has publicly launched a 2026-2030 Strategic Plan targeting double-digit growth in EBITDA and net profit, anchored by an announced NOK 4.5 billion (~$456M) voluntary all-cash takeover bid for Norway's Elmera Group (owner of Fjordkraft), though that transaction faces execution risk from a competing higher offer received from another party.
Audax Renovables firmographics
Firmographics- Name
- Audax Renovables
- Legal name
- Audax Renovables, S.A.
- Website
- https://audaxrenovables.com
- Company type
- Public
- Founded year
- 2000
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Audax Renovables is a vertically integrated Spanish energy group that generates 100% renewable electricity from a 1,037 MW solar and wind portfolio and supplies electricity and gas to over 436,000 residential, SME, and industrial customers across nine European countries.
- Ownership category
- akta.pro rank
Audax Renovables industry classification
Industry- Product category
- Retail Electricity and Gas Supply
- NAICS
- Electric Power Generation (22111), Electric Power Transmission, Control, and Distribution (22112), Natural Gas Distribution (221210), Solar Electric Power Generation (221114), Wind Electric Power Generation (221115)
- SIC
- Natural Gas Transmission (4922), Cogeneration Services & Small Power Producers (4991)
- akta.pro primary industry
- Cross-Border EAC Trading & Compliance (Multi-registry, Multi-jurisdiction) (EUAGAFAJ)
- akta.pro secondary industry
- Unbundled Renewable Attributes Trading (Standalone EACs) (EUAGAFAF)
Keywords
Where Audax Renovables is headquartered
LocationHeadquarters
- HQ city
- Badalona
- HQ country
- Spain
- HQ region
- Europe
Offices2 records
Markets served
Audax Renovables business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Infrastructure, Personnel, Technology or R&D, Marketing or Sales
Revenue model
- Renewable Energy Generation: Generation of electricity from 100% renewable sources (solar and wind), with a portfolio of 1,037 MW across multiple countries
- Electricity and Gas Supply: Commercialization and supply of electricity and gas to over 436,000 customers across 9 countries, including 16.9 TWh retail customer portfolio
- Energy Efficiency Solutions: Provision of energy efficiency solutions for residential and business customers
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Audax Renovables product offering
Product offeringCore offering
Audax Renovables is a vertically integrated European energy group that generates electricity from 100% renewable sources (solar and wind) and supplies electricity and gas to more than 436,000 customers across 9 European countries. The company combines renewable generation with retail commercialization of electricity and gas, offering data-driven energy efficiency solutions to residential, SME, and large commercial and industrial customers. Its 1,037 MW generation portfolio supports its integrated supply business, positioning it as a leader in the SME segment in Spain.
Differentiator
Problem solved
Functional benefit
Products and services
- Renewable Energy Generation Generation of electricity from 100% renewable sources (solar and wind) through a portfolio of 1,037 MW across multiple European countries, supplying the grid and supporting the group's integrated retail supply operations.
- Electricity and Gas Supply Retail supply of electricity and gas to residential, SME, and large commercial and industrial customers across 9 European countries, with a 16.9 TWh retail portfolio and 10.6 TWh of electricity plus 4.9 TWh of gas sold in 2025.
- Energy Efficiency Solutions Data-driven energy efficiency solutions for residential and business customers, helping them optimize energy consumption, reduce costs, and manage complex energy needs through technology and analytics.
Quantifiable outcome
- 436,000+ customers served across 9 countries
- +2 more outcomes
Companies that use Audax Renovables
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Audax Renovables technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
Audax Renovables partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Elmera GroupcoreAudax Renovables announced a voluntary all-cash takeover bid for 100% of Norwegian electricity retailer Elmera Group (owner of Fjordkraft) at NOK 41.20 per share, valuing the company at approximately NOK 4.5 billion (~$456 million). The transaction would strengthen Audax's European presence in the Nordic region. Shareholders representing 43.3% of Elmera's capital had indicated support for the deal, though Elmera received a competing higher non-binding offer from another party.
Scale indicators18 records
Recent moves7 records
Expansion highlights5 records
Audax Renovables competitors and assessment
Company assessmentBroad incumbents
- Iberdrola: Spain-headquartered global utility with large renewable generation portfolio and multi-million retail customer base across Europe and the Americas. Comparable to Audax on integrated generation-plus-retail model and Iberian footprint, but operates at vastly greater scale and includes networks.
- Endesa: Spain's largest electricity retailer and major generator (now part of Enel), with deep exposure to the Iberian SME and residential segments that Audax targets. Directly comparable business model (generation + retail) in the same Spanish market.
- Naturgy Energy Group: Spanish integrated gas and electricity utility with multi-country European retail presence. Comparable to Audax on dual-fuel retail proposition and Iberian base, with similar multi-country European geographic footprint.
- EDP Renováveis: One of the world's largest wind energy developers, headquartered in Spain (part of EDP group). Comparable to Audax on wind generation technology and Iberian base, though at much larger scale and without retail.
- Repsol: Spanish integrated energy major with expanding renewables portfolio and retail customer base in Iberia. Comparable to Audax on integrated energy model and Iberian SME/residential retail exposure, though much larger and oil-and-gas anchored.
- Ørsted: Danish-headquartered global leader in offshore wind and onshore renewables, with European retail operations. Comparable to Audax on renewable generation focus and pan-European retail presence.
- Statkraft: Norwegian state-owned renewable energy generator and Europe's largest generator of renewable energy. Directly comparable to Audax's generation model and would be a relevant European renewable peer in the Nordic region Audax is targeting via Elmera.
Direct peers
- Acciona Energía: Spanish pure-play renewable energy generator (wind and solar) with operations across multiple continents. Closely comparable to Audax's renewable generation segment and Iberian origin.
- Solaria Energía y Medio Ambiente: Spanish solar photovoltaic power generator with a growing pipeline across Iberia. Comparable to Audax on renewable IPP model and Spanish origin, with similar mid-cap profile and pipeline-driven growth thesis.
- Elmera Group: Norwegian electricity retailer (owner of Fjordkraft) that Audax has bid to acquire. Comparable to Audax on multi-country European retail energy supply and the exact asset Audax is targeting for Nordic expansion.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Audax Renovables social profiles
Digital presenceAudax Renovables financial estimates
Financial estimateRevenue estimate
Valuation estimate
Audax Renovables leadership team
Management profileNumber of profiles
Profiles5 records
Audax Renovables subsidiaries and ownership
Company hierarchySubsidiaries1 record
Audax Renovables funding detail
Funding detailFunding overview
Funding rounds1 record
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Audax Renovables M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Audax Renovables
What does Audax Renovables do?
Audax Renovables is a vertically integrated European energy group that generates electricity from 100% renewable sources (solar and wind) and supplies electricity and gas to more than 436,000 customers across 9 European countries. The company combines renewable generation with retail commercialization of electricity and gas, offering data-driven energy efficiency solutions to residential, SME, and large commercial and industrial customers. Its 1,037 MW generation portfolio supports its integrated supply business, positioning it as a leader in the SME segment in Spain.
Is Audax Renovables a public or private company?
Audax Renovables is a public company. It is classified as public and is currently operating.
When was Audax Renovables founded?
Audax Renovables was founded in 2000. It employs 501 to 1,000 people.
Where is Audax Renovables based?
Audax Renovables is headquartered in Badalona, Spain, in the Europe region.
How does Audax Renovables make money?
Three revenue lines are on record. Renewable Energy Generation is the primary driver. The others are electricity and Gas Supply and energy Efficiency Solutions.
Who are Audax Renovables's main competitors?
Broad incumbents on record are Iberdrola, Endesa, Naturgy Energy Group, EDP Renováveis, Repsol, Ørsted and Statkraft. Direct peers are Acciona Energía, Solaria Energía y Medio Ambiente and Elmera Group.
Does Audax Renovables have an API?
No public API is recorded for Audax Renovables.
What industry is Audax Renovables in?
Audax Renovables's product category is Retail Electricity and Gas Supply. Its primary akta.pro industry code is EUAGAFAJ, Cross-Border EAC Trading & Compliance (Multi-registry, Multi-jurisdiction), with a secondary code of EUAGAFAF, Unbundled Renewable Attributes Trading (Standalone EACs). Its NAICS code is 22111 and its SIC code is 4922.