Iberdrola Renovables Starts Wind Farms in USA

The three are Providence Heights in Bureau County (Illinois), with 72 MW coming from 36 Gamesa model G87 2 MW nameplate capacity wind turbines, Winnebago I in Winnebago County (Iowa), with 10 wind turbines G83 2 MW, adding up 20 MW, and Klondike IIIA in Sherman County (Oregon), with 51 General Electric wind turbines of 1.5 MW nameplate capacity.

The Lempster Wind Power Project is scheduled to be up and running by the end of the year. The 12 wind-powered turbines are expected to provide power to 10,000 New Hampshire homes.

Iberdrola Renovables at present has 781 MW in wind farms in advanced stages of construction in the United States.

The installation of these wind farms will enable Iberdrola Renovables to reinforce its presence in the USA, a key country for its growth plans. The 2008-2012 Strategic Plan foresees investing €9,400 million (50 per cent of total investment) in the US.

Iberdrola Renovables, world leader in wind power*, is the second largest US operator in terms of installed capacity, with 1,983** MW of installed wind power at the end of June this year and a project pipeline of 22,286 MW, or 41% of the total.

Iberdrola Renovables' total installed power worldwide reached 7,949 MW at the close of the first half of 2008, with 7,607 MW coming from wind farms and 342 MW from mini hydroelectric plants. The Company already has 4,383 MW wind power capacity installed in Spain and 3,224 MW abroad.

The company also recently opened the La Cotera wind farm, located in the Río Nela mountain region, in Merindad de Valdeporres (Burgos) in Spain, which has an installed power of 18 megawatts (MW) and cost €20.6 million.

The company also has a project for three tidal energy farms off Scotland and Northern Ireland.

Iberdrola Renovables' 2008-2012 Strategic Plan projects investments of €18,800 million over the course of the five years. The working goals of the Company for 2012 are to multiply capacity by 2.5 with respect to 2007, to attain 18,000 MW, and to quadruple production, to more than 42,000 million kWh, as well as to continue diversifying and balancing the geographic distribution of its renewable installations.

The aim of the 2008-2012 Strategic Plan is to consolidate its leadership in Spain, the UK and the USA. The achievement of these business targets of the Strategic Plan will enable Iberdrola Renovables to post an Ebitda of around €3,400 million with net profits of €1,000 million.

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