IBERDROLA Renovables, through its Greek affiliate Rokas, is sponsoring the exhibition El Greco and his Workshop, organised by Spain’s SEACEX (State Corporation for Overseas Cultural Action) and the Nicholas P. Goulandris Foundation. It is being held until 5 January at Athens’ Goulandris Museum of Cycladic and Ancient Greek Art.
The show, honouring “El Greco”, was officially opened by Queen Sofía. She was accompanied by Greek premier Constantinos Karamanlis, Spain’s ambassador to Greece Juan Ramón Martínez Salazar, and Ignacio Galán, chairman of Spain’s IBERDROLA utility group, among other dignitaries.
In his remarks, Galán said “In the 16th C. Domenicos Theotocopoulos, an innovator in his time and a model for later artistic movements, was a magnificent link between our two countries: Greece and Spain, a link that has become stronger over time, with close sentimental, cultural and economic ties that three years ago enabled a Greek company, Rokas, and a Spanish company, IBERDROLA, to join forces as this country’s largest producer of wind energy, for which we feel great satisfaction and pride.”
The chairman of IBERDROLA underlined that “For the IBERDROLA group Greece is not only one of our main expansion areas, but also a country to which we are firmly committed and in which we want to continue to create wealth and well-being, via the building of energy infrastructures that can meet this country’s important energy challenges”.
Galán said “our intention is to remain in Greece for a long time, and not only in the economic sphere but also in the cultural one, as shown by our sponsorship of this exhibition, in order to contribute to the union between the two countries.”
At mid-year IBERDROLA’s operational wind power generation capacity came to 210 MW in Greece, where its strategic partner, in which it now holds a 52.7% stake, is the Rokas group, Greece’s largest developer and operator of wind farms.
El Greco and his Workshop
The show sponsored by IBERDROLA Renovables, covers the Spanish period of the painter, who was born in Crete in 1541, and died in Toledo Spain, in 1614, where he had lived and worked since 1577. The exhibition includes a dozen works by the artist, and others by his son Jorge Manuel Theotocopuli (1578-1631), and his pupil Luis Tristán (1585-1624), plus paintings by Blas Muñoz (last quarter of 17th C.), and works attributed to anonymous painters associated with El Greco’s workshop. Some later copies and a 20th C. forgery are also shown, to illustrate the painter’s lasting importance in the history of art.
At the beginning of 1580, and now definitively installed in Toledo, El Greco decided to found a workshop that would allow him to engage in the making of two types of commissions: large altarpieces and devotional paintings, from which he would obtain the maximum economic benefit. Artistically he was not overshadowed by any other painters but economically he was, since there did not exist a clientele that was able to pay his high prices. Most commissions came from convents, parish churches, and religious individuals without excessive economic problems. To land these customers he had to compete with other Toledo painters whose economic pretensions were more modest.
It was here where the work in his workshop would prove its worth. The maestro reserved for himself the execution of the altarpieces and major commissions, the portraits and the models for the devotional paintings, but his assistants would make series of copies of these --often signed by El Greco himself although he had not put this hand to them-- which would be available for sale at affordable prices and in large quantity. As of 1590, his son Jorge Manuel Theotocopuli was one of the pillars on which the workshop rested and in the 1604-1607 period another contributor in large measure was Luis Tristán, who adhered to El Greco's way of working.
_________________________________________________
IMPORTANT INFORMATION
The Folleto Informativo of the IPO of Iberdrola Renovables, S.A.U. is in the process of being approved by the Comisión Nacional del Mercado de Valores (CNMV). Once it is authorised, it will be made available through Iberdrola Renovables, S.A.U.’s and the CNMV’s web sites, as well as in the registered address of Iberdrola Renovables, S.A.U., the Stock Exchanges, the banks acting as underwriters and the Agent Bank.
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. Iberdrola Renovables, S.A.U. 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”).
FORWARD-LOOKING STATEMENTS
This communication contains forward-looking information and statements about Iberdrola Renovables, S.A.U. 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.
Although Iberdrola Renovables, S.A.U. believes that the expectations reflected in such forward-looking statements are reasonable, investors and holders of Iberdrola Renovables, S.A.U. 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.U., 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.
Forward-looking statements are not guarantees of future performance. They have not been reviewed by the auditors of Iberdrola Renovables, S.A.U. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date they were made. All subsequent oral or written forward-looking statements attributable to Iberdrola Renovables, S.A.U. 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.U. on the date hereof. Except as required by applicable law, Iberdrola Renovables, S.A.U. does not undertake any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.