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Record US Wind Output Boosts Second Quarter Generation

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July 9, 2010

PORTLAND, Ore. — Nearly 50% of the total energy generated by Iberdrola Renovables for second quarter was produced by the Company's 41 US wind farms.

  • The Company increased its energy generation in the US by 31.7% between April and June to 2,962 million kilowatt hours (kWh).
  • IBERDROLA RENOVABLES now has 41 wind farms in the US with installed capacity of 3,877 MW and has further cemented its position as the second largest sector player in the country.
  • The company's worldwide output totaled 12,858 million kWh in the first half of 2010, up 21.5% on the same period in 2009.
  • IBERDROLA RENOVABLES has installed capacity of 11,406 MW in 12 countries, having added 1,403 MW over the last 12 months, strengthening its sector leadership worldwide.

IBERDROLA RENOVABLES, the world's leading wind energy company*, produced 6,046 million kilowatt hours (kWh) at all of its facilities around the world in the second quarter of 2010, an increase of 16.5% on the same period last year.

Of the total, 5,771 million kWh were generated by the company's wind farms, which continued to form the core of IBERDROLA RENOVABLES' business in the quarter, accounting for 95.5% of the generation mix. Of the total, 2,962 million kWh was generated in the US, 2,171 million kWh in Spain, 417 million kWh in the ROW (the rest of Europe and South America), and 221 million kWh in the UK.

The largest increases in wind farm output between April and June were registered in the US, with 31.7% (+713 million kWh vs. the second quarter of 2009); the ROW, with 20.2% (+70 million kWh), and Spain, with 5.3% (+110 million kWh).

Meanwhile, the output of small-scale hydroelectric plants — all of which are located in Spain — stood at 259 million kWh in the quarter, with other technologies, such as biomass or solar thermal, contributing a further 16 million kWh.

In the first half of 2010 IBERDROLA RENOVABLES generated 12,858 million kWh, up 21.5%, with significant contributions from Spanish (5,699 million kWh, up 22.3%) and US (5,051 million kWh, an increase of 26.9%) wind farms. Small-scale hydroelectric plant output advanced 38.6% between January and June to 465 million kWh.

Global leader by installed capacity

IBERDROLA RENOVABLES is the world leader in terms of installed capacity, with 11,406 megawatts (MW), having increased its total capacity by 1,402 MW over the past 12 months. A total of 51% of this capacity is now located outside Spain with the strongest growth over the past year reported in the US, where installed capacity has increased by 773 MW to 3,877 MW.

A significant part of the company's growth is in the US, due, among other factors, to the favorable regulatory environment there. To date the company has already received $577 million in grants from the US government, which it will reinvest in further projects in the country. Last June the company brought the Peñascal wind farm in the state of Texas on stream, its largest facility with a capacity of 404 MW.

The company's installed capacity in Spain now totals 5,588 MW. The capacity of its wind farms has increased by 463 MW over the last year to 5,194 MW. It also has 342 MW of small-scale hydroelectric capacity in Spain, 50 MW at the solar thermal plant in Puertollano, Ciudad Real, and 2 MW at its first forestry biomass power plant in Corduente, Guadalajara.

By region, the largest share of its installed capacity is in Castile-La Mancha (1,981 MW), followed by Castile and León (1,222 MW), Andalusia (803 MW), Galicia (627 MW); Aragon (278 MW), La Rioja (248 MW), the Basque Country (153 MW), Murcia (146 MW), Valencia (56 MW), Navarre (44 MW), Cantabria (23 MW), Extremadura (5 MW) and Madrid (1 MW).

IBERDROLA RENOVABLES' capacity in the rest of the world stands at 1,099 MW. It has 283 MW in France, 219 MW in Greece, 161 MW in Poland, 92 MW in Portugal, 80 MW in Mexico, 63 MW in Germany, 66 MW in Italy, 86 MW in Hungary and 49 MW in Brazil.

The company, which has cemented its position as the benchmark company in the sector, is also the biggest investor. As a result it is now the leading player in renewables in Spain, the UK and Spain and ranks second in the US.

The IBERDROLA subsidiary is present in 23 countries and has assets in operation in twelve markets: Spain, the United States, the UK, Greece, France, Poland, Italy, Portugal, Mexico, Germany, Brazil and Hungary.

* Source: Bloomberg New Energy Finance

LEGAL NOTICE:


DISCLAIMER

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.

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 with the 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 Iberdrola Renovables, 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-looking information 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 for its initials in Spanish).

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.

Contact:

Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805

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