Signed by IBERDROLA Group chairman Ignacio Galán and his counterpart at the Russian company Evgeny Dod

IBERDROLA AND RUSSIAN POWER GROUP INTER RAO SIGN COOPERATION AGREEMENT

• Development of electricity projects envisaged in the Russian Federation, the CIS, the European Union and Latin America

IBERDROLA and Russian power company Inter Rao have signed a cooperation agreement under which they will jointly analyze business opportunities in the electricity sectors of the Russian Federation, the CIS, the European Union and Latin America.

The agreement was signed this morning at the offices of the Spanish Prime Minister in the Moncloa Palace in Madrid by IBERDROLA chairman Ignacio Galán and his counterpart at Inter Rao, Evgeny Dod. Spanish Prime Minister José Luis Rodríguez Zapatero and Russian President Dmitry Medvedev atended the signing ceremony, which took place during a state visit to Spain by the latter.

Projects covered by the agreement include projects in generation, distribution and marketing of electrical energy.

Inter Rao, with an installed generating capacity of 8,000 megawatts, is the leading importer and export of electricity in Russia. It heads a group of more than 20 companies operating in 14 countries in europe, the South Caucasus, the Far East and Central Asia.