IBERDROLA RENOVABLES opens its third wind farm in Poland

IBERDROLA RENOVABLES Opens Its Third Wind Farm In Poland
Valencia, Spain August 22, 2008

- The Company has consolidated its global leadership* in the wind power sector.
- The installation, called Karscino, has an installed power of 69 megawatts (MW) and is located in the north of the country.
- IBERDROLA RENOVABLES has also started the construction of two other wind farms in Poland, where it already has 128 MW in operation

IBERDROLA RENOVABLES has opened its third wind farm in Poland, called Karscino, which has an installed power of 69 megawatts (MW) and is located in the north of the country. The installation comprises 46 wind turbines of 1.5 MW of nominal power made by Fuhrländer.

In addition, the Company has started the construction of two other wind farms in Poland: Karscino II (13.5 MW) and Galicja (12 MW). These installations will add to the three others already in operation in this country: Karscino (69 MW), Kisielice (40.5 MW) and Malbork (18 MW).

This presence in the Polish wind power market, which fits in with the Company strategy of promoting its international expansion, began in 2005 with the acquisition of MVV Eternegy Polska, which changed name to IBERDROLA Energía Odnawialna Sp. zo.o and which has around 800 MW in development.

IBERDROLA RENOVABLES reached an installed power of 7,949 MW** at the end of the first half of 2008, 7,607 MW of which corresponds to wind farms and 342 MW to mini-hydraulic power plants.

The Company, which continues to consolidate its leadership at the forefront of the global wind power sector* thanks to the installation of 851 MW of power between January and June of this year, now has 4,383 MW of installed wind power capacity in Spain and 3,224 MW abroad, 1,983 MW of which is found in the United States** and 531 MW in the United Kingdom. The other 710 MW are mainly located in Europe, where there are notable contributions from Greece -217 MW of installed power-; France -166 MW-; Poland -128 MW-; Germany -63 MW- and Portugal -56 MW-.

The Strategic Plan 2008-2012 of IBERDROLA RENOVABLES anticipates the investment of €18,800 million during this five-year period, above all in the United States and Europe: €10,400 million between 2008 and 2010 and €8,400 million between 2011 and 2012. The operating objectives of the Company for 2012 are to multiply capacity by 2.5 compared with 2007, to reach 18,000 MW, and to quadruple production, until 42,000 million kWh is surpassed, as well as to continue diversifying and balancing out the geographical presence of its renewable energy installations.

IBERDROLA RENOVABLES boasts a portfolio of products of 54,000 MW (+12,000 MW compared with the end of 2007), which guarantees the construction of more than 2,000 MW annually during the coming years. For this, it has also covered its necessity of the supply of wind turbines up to 2012: 10,000 MW assured.

* Source: New Energy Finance (December 2007)
** Des not include 606 MW owned by a third party under contract of sale of energy

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