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19/04/2010
IBERDROLA RENOVABLES ACQUIRES THE RIGHTS TO DEVELOP 1,500 MEGAWATTS OF WIND POWER IN THE EAST EUROPEAN COUNTRY

  • The company, which unveiled its Bucharest office in 2009, operates in Romania with its partner Eolica Dobrogea
  • The Romanian government has authorised IBERDROLA RENOVABLES to connect its power output to the country’s electricity grid
  • This license will enable the company to set its DOBRUJA PROJECT in motion, the most ambitious project of its kind developed in the world and one which will witness the start-up of up to 50 wind farms
  • The company plans to construct its first wind farm in the country this year: the 80-MW Mihai Viteazu farm, which falls outside the scope of this new power concession
  • IBERDROLA RENOVABLES is the benchmark renewable energies company in Eastern Europe, where it is already working on projects in Poland, Hungary, Estonia and Bulgaria, and is also taking wind measurements in Russia

IBERDROLA RENOVABLES, the worldwide market leader in wind energy(*), has been granted a license by the Romanian grid operator Transelectrica to connect a total of 1,500 megawatts (MW) of wind power to the national electricity grid.

This planned output will enable the Spanish giant to generate enough energy in Romania to supply nearly one million households, while also curbing yearly CO2 emissions by 2.6 million tonnes.

The license will pave the way for the company to roll out its DOBRUJA PROJECT, the most ambitious wind-power project of its kind developed in the world to date one that will witness the start-up of 50 wind farms in the region of Dobruja, in south-eastern Romania. The Company intends to build these wind farms between 2011 and 2017.

IBERDROLA RENOVABLES is implementing all its projects in Romania with the company Eolica Dobrogea (owned by the Swiss engineering group NEK and the Romanian companies C-Tech and Rokura). This company, which is at the forefront of the Romanian renewables market, has been entrusted with the task of developing the projects – planning and obtaining the construction permits – while IBERDROLA RENOVABLES is responsible for constructing and operating the wind farms.

The company intends to begin construction this year on its first wind facility in Romania: the 80-MW Mihai Viteazu farm. This particular project does not fall within the new power concession granted by the Romanian government, but will also be located in the region of Dobruja. The farm is expected to be brought into service in January 2011.

2009 saw IBERDROLA RENOVABLES open its first office in the Romanian capital, Bucharest, as part of its ongoing plan to cement its presence in Eastern Europe. The company already has operating wind farms in Poland (161 MW) and Hungary (50 MW), and is working on projects in Estonia (where it is implementing the country’s largest wind farm at 150 MW) and Bulgaria. It is also in the process of taking wind measurements in Russia. 

IBERDROLA RENOVABLES, with operations in 23 countries, is the world leader(*) in its sector in both installed capacity (with nearly 11,294 MW at the close of the first quarter of 2010) and power output (over 6,812 million kWh).

IBERDROLA RENOVABLES, a benchmark company in Eastern Europe

Geographical diversification is one of IBERDROLA RENOVABLES’ competitive advantages. Its international strategy focuses on markets with favourable regulatory systems and high growth potential in the renewable energies sector.

At present, North America and Europe are the company’s key markets. Eastern Europe has also been tagged as a priority market for the years to come, with a project pipeline approaching 4,700 MW.

In 2009, the Spanish company channelled nearly 100 million euros into developing renewable energies in Eastern Europe, making it the benchmark company for renewable energies in the region.

 

LEGAL NOTICE: 

DISCLAIMER 

This document has been prepared by Iberdrola Renovables, S.A. exclusively for its use regarding the presentation of financial results for the full 2009 fiscal year. As a consequence thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason without the express and prior written consent of Iberdrola Renovables, S.A.Iberdrola Renovables, S.A. does not assume liability for this document if used for different purposes thereof. 

The information and all statements contained in this press release 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 and statements expressed herein. Neither Iberdrola Renovables, S.A., its subsidiaries or any entity within Iberdrola Group or subsidiaries, or any company participated by Iberdrola Renovables, S.A., assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this press release or its contents. 

The Information contained in this press release about the price at which securities issued by Iberdrola Renovables, S.A. have been bought or sold in the past or about the yield on securities issued by Iberdrola 

Renovables, S.A. cannot be relied upon as a guide to future performance. Neither this press release 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 press release does not constitute an offer or invitation to purchase or subscribe shares, in accordance withthe provisions of the Spanish Securities Market Act (Act 24/1988, of 28 July), Royal Decree Act 5/2005, of 11 March, and/or Royal Decree 1310/2005, of 4 November, and its implementing regulations. Particularly, this press release does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities in the United States of America. The shares of IberdrolaRenovables, S.A. may not be offered or sold in the United States of America except pursuant to an effective registration statement under the Securities Act or pursuant to a valid exemption from registration. 

FORWARD-LOOKING STATEMENTS 

This press release contains forward-looking information and statements about Iberdrola Renovables, S.A. These forward looking statements relate to financial projections and estimates and their underlying assumptions, statements regarding plans, targets 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. believes that the expectations reflected in such forward-looking statements are reasonable, investors and shareholders in Iberdrola Renovables, S.A. 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 lookinginformation and statements. These risks and uncertainties include those discussed or identified in the public documents sent by Iberdrola Renovables, S.A. to the Comisión Nacional del Mercado de Valores (the Spanish securities regulator, or the CNMV in its Spanish initials). 

The forward-looking statements are no guarantee whatsoever of future results and 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 board 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 on the date hereof. Except as required by applicable law, Iberdrola, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, even in the event of new information being published or new events occurring.

(*) Source: Bloomberg New Energy Finance.
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