The board of directors of IBERDROLA RENOVABLES, the world’s leading wind power company(*), has today approved the appointment of Emilio Ontiveros, chairman and founding member of Analistas Financieros Internacionales (AFI), as an independent director. Mr. Ontiveros, who was appointed on the proposal of the company’s chairman, Ignacio Sánchez Galán, will replace proprietary director Santiago Martínez Garrido.

With this appointment the company is further complying with good corporate governance practices by increasing the number of independent directors. Of its 15 board members, six are now independent. It also welcomes to its board a professional with ties to Castile-La Mancha, the country’s leading region in developing clean energies.

The company’s energy portfolio in the region currently totals 1,982 MW, of which 1,835 MW are wind, nearly 100 MW from small-scale hydroelectric plants and 50 MW from its recently opened solar thermal facility in Puertollano. It is also currently working on an important biomass project in Corduente in Guadalajara. Since 2001 the company has invested nearly €2,500 million in Castile-La Mancha, underscoring its commitment to the region and its decisive role as a benchmark in the region’s development.

Emilio Ontiveros was born in Ciudad Real in 1948. He is a professor of business economics and has worked in various companies (Barreiros Empresa Constructora, Dragados y Construcciones, Obrascon) and lectured at a number of universities (Universidad Autónoma de Madrid, Universidad de Zaragoza and Escuela de Finanzas Aplicadas, among others).

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