In a competition organised by EDP, the first of its type to have taken place in the Iberian Peninsula
IBERDROLA WINS BID TO MANAGE AGUIEIRA AND RAIVA HYDROELECTRIC PLANTS IN PORTUGAL
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The Company is awarded tolling agreement to manage and market electricity from the plants, located in the Mondego river basin, from April 1 until 31 March 2014.
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Combined power at the two plants is 360 MW, of which 270 MW is reversible pumping capacity, representing 25% of the total installed in Portugal of this type
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The award is a product of IBERDROLA’s firm commitment to development in Portugal, where it recently announced the construction of the 1,200 MW Alto Támega hydro complex
IBERDROLA has won a competition to manage the Aguieira and Raiva hydroelectric power stations in Portugal, with a combined capacity of 360 megawatts (MW). The bid, organised by Energias de Portugal (EDP), was the first of its type to have taken place in the Iberian pensinsula.
IBERDROLA will be responsible for managing and marketing electricity generated at the two plants from April 1 until 31 March 2014. The bidding process was vetted by the Portuguese competition authorities.
The Aguieira and Ravia hydro plants, located in the Mondego river basin, have installed capacities of 336 MW and 24 MW, respectively. The Aguieira plant has a reversible pumping capacity of 270 MW, representing 25% of all pumping capacity of this type in Portugal.
The award is a reflection of IBERDROLA’s firm commitment to electricity development in Portugal, and to environmentally friendly technologies. The Company recently preented its plans for hydroelectricity development in the Alto Támega, one of the largest projects of its type of the last 25 years. in Europe.
The project involves four new dams to be built by the Company between 2012 and 2018 with an installed capacity of 1,200 MW, at a cost of €1.7 billion. The new power stations, two pumping (900 MW) and another two pure turbines (234 MW), will generate around 2,000 gigawatt hours(GWh) a year, around 3% of total electricity consumption in Portugal and sufficient to meet the annual needs of approximately 1 million people.
Managing the Aguieira and Raiva power stations for the next five years, with a capacity to meet demand from 100,000 people, will provide valuable experience for the Alto Támega project.
Projects in progress in Spain and Brazil
IBERDROLA’s commitment to hydro generation goes back to its beginnings. Today, the Company has around 10,000 MW of hydraulic capacity installed worldwide. Spain –over 8,800 MW-, the UK –over 550 MW-, Brazil –over 450 MW-, Chile –around 125 MW- and the US –almost 120 MW-.
IBERDROLA’s interest in continuing to develop facilities of this nature shows in the fact that that it has begun to build 14 more plants with a joint capacity of more than 2,000 MW: three in Spain -La Muela II, San Esteban II and San Pedro II, totalling 1,050 MW- and 11 in Brazil, through the Neoenergia company -Baguarí, Goiandira, Nova Aurora, Corumbá III, Pirapetinga, Pedra do Garrafao, Dardanelos, Sitio Grande, Jatobá, Alto Rio Grande and Baixo Iguazú, totalling 1,000 MW.
DISCLAIMER
This communication does not constitute an offer to purchase, sell, or exchange, or the solicitation of an offer to purchase, sell, or exchange, any securities. The shares of Iberdrola, 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.