• The Company strengthens its position as world leader* in the wind power sector
• The company closed the year with an installed capacity of 9,302 MW, of which 8,960 MW (96.3%) is generated by wind farms
• It has 4,868 MW of installed power in Spain, 2,876 MW in the United States, 665 MW in the United Kingdom, and 893 MW in the rest of the world.
• Electricity production rose 71.1% in 2008 to 16,998 million kilowatt hours (kWh)

IBERDROLA RENOVABLES increased installed capacity by 2.204 MW (31%) in 2008 to 9,302 megawatts (MW), of which 8,960 MW (96.3% of the total) corresponds to wind farms and 342 MW to mini-hydro power stations.

In Spain, total installed capacity amounted to 4,868 MW, of which 4,526 MW is at wind farms. The IBERDROLA RENOVABLES production network in Spain, which is spread over 13 different regions, saw a 297 MW increase over 2008. Installed capacity closed the year as follows: 1,930 MW in Castilla-La Mancha; 980 MW in Castilla-León; 625 MW in Galicia; 448 MW in Andalucía; 278 MW in Aragón; 248 MW in La Rioja; 154 MW in País Vasco; 76 MW in Murcia; 56 MW in Valencia; 44 MW in Navarra; 23 MW in Cantabria; 5 MW in Extremadura; and 1 MW in the Autonomous Region of Madrid.

Over the course of 2008, the company has strengthened its international presence and dominant position at the head of the world wind power industry, as clearly demonstrated by the sharp growth reported in the countries in which it operates. In the United States, installed power stood at 2,876 MW, marking a year-on-year increase of 86.9% over 2007. In the United Kingdom, capacity rose 74.3% to 665 MW.

For the rest of the world, growth for 2008 amounted to 47.1%, bringing total installed capacity to 893 MW, most of which is generated in Europe: Greece provides 218 MW; France, 214 MW; Poland, 143 MW; Portugal, 92 MW; Mexico, 78 MW; Germany, 63 MW; Brazil, 49 MW; and Hungary, 36 MW.

Electrical energy production rose by 71.1% during 2008, bringing the total to 16,998 million kilowatt hours (kWh). The company enjoyed the greatest growth in its two main international markets: in the United States, production multiplied by five in comparison to the close of 2007 to reach 5,409 million kWh, which represents 31.8% of total production. There was also a significant rise in United Kingdom production -up 403%- to 1,227 million kWh.

* Source: New Energy Finance

LEGAL NOTICE

DISCLAIMER

This document has been prepared by IBERDROLA RENOVABLES, S.A. (the “Company”) in relation with the announcement of the capacity and production results of the complete 2008 fiscal year.

The information and any statements made in this document 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 expressed herein.

Neither the Company nor any of its advisors or representatives assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this document or its contents.

Neither this document nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.