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Iberdrola Renovables Starts Up The Penascal Wind Farm In The US, Its Largest Facility In The World

16 June 2010

The wind facility includes a radar system that detects large flocks of migratory birds

IBERDROLA RENOVABLES STARTS UP THE PENASCAL WIND FARM IN THE US, ITS LARGEST FACILITY IN THE WORLD

  • This renewables facility comprises the Penascal I and Penascal II wind farms and has installed capacity of 404 MW

  • The wind farm, which is located in Texas, will be able to meet the average electricity consumption of 150,000 US families

  • The start-up of the facility underlines the commitment of IBERDROLA RENOVABLES to the US, a key market in its growth strategy, where it is already the second-largest wind power operator with installed capacity of 3,827 MW

IBERDROLA RENOVABLES, the world’s leading wind power company*, has started up the Penascal wind farm in the state of Texas. This is the largest facility operated by the company worldwide with installed capacity of 404 MW.

The Penascal complex is located in Kenedy County (Texas) and comprises two wind farms: Penascal I and Penascal II. The facility has 168 Mitsubishi MHI 92 wind turbines, with unit capacity of 2.4 MW. Its output can meet the typical energy consumption of around 150,000 families and avoids the emission of some 120,000 tonnes of CO2.

The facility provides a significant socio-economic boost to the region having already created some 20 direct jobs in maintenance and operation of the wind farms. Around 200 people were involved in its construction.

The facility was built in line with the stringent environmental criteria applied by IBERDROLA RENOVABLES and the company spent over 4,000 hours researching the characteristics and habits of the bird life in the region prior to its construction.

The complex’s innovative features include a radar system that detects the arrival of large flocks of migratory birds and shuts down the turbines if visibility conditions present a danger.

The US, a key market

IBERDROLA RENOVABLES is the second largest wind power operator in the US, where it is present in 23 states. At the end of the first quarter the company had 39 wind farms in the country with installed capacity of 3,827 MW. The US also currently accounts for 41% of the company’s project pipeline.

The company has a workforce of 800 employees in the US – almost half the total – and has created over 14,200 indirect jobs since 2006. It has also made around $5.5 billion in purchases from US companies over the last three years.

IBERDROLA RENOVABLES plans to install 1,000 MW per year in the US in 2011 and 2012, a target that requires dynamic management of its project pipeline. The objective is to shore up its presence in the country’s eastern and north-eastern states, which have the most attractive potential due to the positive outlook for prices and demand.

With operations in 23 countries, IBERDROLA RENOVABLES is the world leader in its sector in both installed capacity (with nearly 11,300 MW at the close of the first quarter of 2010) and power output (over 6,812 million kWh in the first three months of 2010).

* Source: Bloomberg New Energy Finance


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 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 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 forwardlooking 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 in its Spanish initials).

The forward-looking statements are no guarantee whatsoever of future results and have not been reviewed bythe 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 statementsattributable 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.

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