President José María Barreda of the government of the Castile-La Mancha region joined IBERDROLA Group Chairman Ignacio Galán today on a visit to the site where the Spanish utility group is building a thermal solar plant in Puertollano, in the province of Ciudad Real.
They were accompanied by Enrique Jiménez Larrea, Director General of the National Energy Diversification and Savings Institute (IDEA); Mayor Joaquín Carlos Hermoso of Puertollano; Xavier Viteri, CEO of IBERDROLA RENOVABLES; and Víctor Rodríguez, the unit’s country manager for Spain.
In remarks made during the visit, Galán said “we are using cutting-edge technology, making this a pioneering project in Europe”, and he thanked regional government officials, saying “if years ago they gave their backing to wind power, once again they are in the vanguard of the use of the sun as a source of renewable energy”.
Galán, who serves as chairman both of the IBERDROLA group and of the renewables unit, said the project reflects IBERDROLA’s “commitment to the global struggle against climate change, protection of the environment, renewable energies, and the economic and social advancement of Castile-La Mancha”, a region in which the group intends to invest €630 million in the next three years, chiefly in renewable energy projects.
The Puertollano facility, due to come on stream near the end of 2008 –tests are scheduled for October– will generate up to 50 MW, and represents an investment of some € 185 million. IBERDROLA RENOVABLES holds a 90% interest, and the IDEA institute the remaining 10%.
The plant is expected to generate some 115 million kWh per year, enough to supply a town of some 50,000 people, and to avoid the emission of some 40,000 tonnes of CO2 into the atmospheres
On a 135-hectare site, the plant will have 290,000 square metres of solar capture area, with 352 parabolic cylinder collectors with some 120,000 parabolic mirrors and 13,000 absorption tubes.
The plant is similar to another IBERDROLA RENOVABLES project in the Spanish province of Teruel. The company plans to commission a total of 150 MW of thermal solar power in the next three years in Spain.
IBERDROLA’s Renewable Energy Production Plant Capacity Climbed by 74% in 2007
In 2007 IBERDROLA RENOVABLES achieved a total renewable energy generation capacity of 7,704 MW, representing a 74% increase for the year. Wind power accounted for 7,362 MW, and mini-hydro plants for the other 342 MW.
The Company thus consolidated its world leadership as producer of renewable energy, with an operational capacity of 4,571 MW in Spain, a 14.4% increase for the year, of which wind power accounted for 4,229 MW.
In 2007 IBERDROLA RENOVABLES added 577 MW in Spain, where it has installations in 13 regions, and capacity is now distributed as follows: 1,881 MW Castile-La Mancha; 918 MW in Castile-León; 593 MW in Galicia; 391 MW in Andalusia; 262 MW in Aragon; 248 MW in La Rioja; 82 MW in the Basque Country; 76 MW in Murcia; 56 MW in Valencia; 44 MW in Navarre; 14 MW in Cantabria; 5 MW in Estremadura, and 1 MW in the Madrid region.
Meanwhile, the company’s renewable power capacity abroad increased sevenfold in 2007, from 440 MW to 3,134 MW, chiefly due to the acquisition last spring of ScottishPower, which has a capacity of 382 MW in the UK, and another 2,145 MW in the United States, via its subsidiary PPM Energy.
The remaining 607 MW of capacity includes 218 MW in Greece, 126 MW in France, 105 MW in Poland, 60 MW in Germany, 50 MW in Portugal, and 49 MW in Brazil.
* Source: New Energy Finance (May 2007)
** When compared with those of a gas-fired combined cycle power plant
*** Including 606 MW belonging to a third party under an energy sales contract
This announcement is not an offer for sale of securities in the United States, United Kingdom, Canada, Japan or Australia or in any other jurisdiction in which offers or sales would be prohibited by any applicable law. 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 of 1933, as amended and any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the Company and that will contain detailed information about the company and management, as well as financial statements. IBERDROLA RENOVABLES, S.A. does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being made and may not be distributed or sent into the United States.
[In the United Kingdom, this announcement, in so far as it constitutes an invitation or inducement to participate in an offer for sale of securities, is directed exclusively at (a) persons who have professional experience in matters relating to investments who fall within article 19(5) (investment professionals) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”) or (b) are persons falling within article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc) of the Order or (c) other persons to whom it may be directed without contravention of section 21 of Financial Services and Markets Act 2000 (all such persons together being referred to as “relevant persons”).] [Nota: Este párrafo sólo debe ser incluido si el hecho relevante o la nota de prensa es relativa a la OPS o la nombra]
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.