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08/05/2009
JOSÉ MARÍA BARREDA AND IGNACIO GALÁN OPEN IBERDROLA RENOVABLES’ FIRST SOLAR THERMAL POWER PLANT

  • The plant is in Puertollano (Ciudad Real) and has installed capacity of 50 MW
  • Annual output is estimated more than 100 million kWh, equivalent to the energy consumption of 100,000 people. The plant will avoid the emission of approximately 90,000 tonnes of CO2 into the atmosphere
  • The new plant places Castilla-La Mancha at forefront of renewable energy development

José María Barreda, President of the Castilla-La Mancha regional government, and Ignacio Galán, Chairman of IBERDROLA RENOVABLES, opened the company’s first solar thermal power plant today in Puertollano (Ciudad Real).

The ceremony was also attended by Enrique Jiménez, Head of IDAE (the Spanish Institute for Energy Diversification and Savings); Joaquín Carlos Hermoso, Mayor of Puertollano; Paula Fernández, the Minister for Industry, Energy and the Environment of the region of Castilla-La Mancha; Xabier Viteri, CEO of IBERDROLA RENOVABLES; and Víctor M. Rodríguez, head of the company’s operations in Spain, among others.

The Puertollano solar thermal power plant, with an installed capacity of 50 megawatts (MW), is 90%-owned by IBERDROLA RENOVABLES and 10% by IDAE. The plant will produce an estimated more than 100 million kilowatt hours (kWh) per year, equivalent to the consumption of a town of approximately 100,000 habitants, and reduce CO2 emissions by around 90,000 tonnes. The investment has been around €200 million.

In his speech, Galán recalled that two years ago in Puertollano he announced plans to build the plant. “That day, with President Barreda present, I said this was going to be a state of the art project in terms of technology and environment, and that it would play a leading role in fostering sustainable growth for Puertollano and its surrounding area,” he said.

“Today, we can all see that IBERDROLA has stood by its commitment, and that our bet on innovation and on this region has become reality. We are witnessing a pioneering project in Europe that will reinforce Puertollano’s role as International City of Energy, and that of Castilla-La Mancha as a benchmark for renewable energy in Spain,” Galán added.

This plant is an example of IBERDROLA RENOVABLES’ commitment to new technologies and has directly generated 60 new jobs in the area. On average 200 workers were employed in the plant’s construction, with as many as 650 during peak workload.

The facility has a solar collection area of nearly 290,000 m2, occupies approximately 150 hectares and consists of 352 parabolic-cylinder collectors, fitted with 120,000 parabolic mirrors and 13,000 absorber tubes. It puts Castilla-La Mancha at the forefront of solar energy development and reinforces leadership in renewable energy in Spain.

IBERDROLA RENOVABLES is the leading developer of clean energy in Castilla-La Mancha, where it has invested over €2.4 billion to date. The company has an installed capacity of 1,930 megawatts (MW) in the region: 1,835 MW from its 54 wind farms (26 in Albacete, 14 in Cuenca, 13 in Guadalajara, and one in Toledo), and 95 MW from its small-scale hydroelectric plants.

The company has generated over 500 jobs in Castilla-La Mancha since setting up operations in the region in 1999, the region, 334 of which are on the company’s own payroll, while an additional 200 jobs have been created through local companies with which contracts have been signed.

IBERDROLA RENOVABLES is currently building a 2 MW biomass plant in Corduente (Guadalajara) fuelled by forest waste from the Alto Tajo Natural Park. It will not only produce energy, but will also enable further progress on research into electricity generation from biomass.

IBERDROLA RENOVABLES reinforced its status as global leader in wind power (1) in the first quarter of 2009, ending the period with a total installed capacity of 9,624 MW and the industry’s largest project portfolio, with 56,000 MW(2).

For more information: www.iberdrolarenovables.es

LEGAL NOTICE

DISCLAIMER

This document has been prepared by IBERDROLA RENOVABLES, S.A. (the “Company”) in relation with the call for the 2009 General Shareholders’ Meeting.

The information and any statements made in this document have not been verified by independent third parties; therefore no express or implied warranty is made as to the impartiality, accuracy, completeness or correctness of the information or the opinions expressed herein.

Neither the Company nor its subsidiaries or other companies of the Iberdrola Group or its affiliates assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents.

Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.

IMPORTANT INFORMATION

This document does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Law (Law 24/1988, as amended and restated from time to time), Royal Decree Law 5/2005 and/or Royal Decree 1310/2005 and its implementing regulations.

This report does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act.

FORWARD-LOOKING STATEMENTS

This communication contains forward-looking information and statements about IBERDROLA RENOVABLES, S.A. and otherwise, including financial projections and estimates and their underlying assumptions, statements regarding plans, objectives and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates” and similar expressions. Prior results cannot be used as indicators of future performance.

Although IBERDROLA RENOVABLES, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of IBERDROLA RENOVABLES, S.A. shares are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of IBERDROLA RENOVABLES, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, among others, those discussed or identified in the public documents sent by IBERDROLA RENOVABLES, S.A. to the Comisión Nacional del Mercado de Valores.

Forward-looking statements are not guarantees of future performance and they have not been reviewed by the auditors of IBERDROLA RENOVABLES, S.A. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All oral or written forward-looking statements attributable to IBERDROLA RENOVABLES, S.A. or any of its members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available to IBERDROLA RENOVABLES, S.A. on the date hereof. Except as required by applicable law, IBERDROLA RENOVABLES, S.A. does not undertake any obligation to publicly update or revise any forward-looking information or statements, whether as a result of new information, future events or otherwise.

(1) Source: New Energy Finance
(2) Includes a contribution of 10,000 MW from Gamesa by virtue of the strategic agreement between Iberdrola Renovables and Gamesa Energía
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