Iberdrola

One of the top 5 largest utilities in the world, based in Spain

Iberdrola is one of the world’s largest utilities by market capitalisation and is Spain’s leading energy company, with 30,000 employees in 40 countries. As of 2011, the operating and economic and financial aspects of Iberdrola Group is structured into the following business lines: Regulated Business, Liberalised Business, Renewable Energy Business and Other Businesses. Iberdrola’s Renewable Energy Business is one of the Company’s core operations. Renewable energy makes up 58% of Iberdrola’s total output capacity incorporating a variety of renewable generation into its energy mix including hydro, PV and biomass. However Iberdrola’s main activity in the renewable electricity generation space is wind generation, the Company being the world’s largest owner-operator of wind farms. The Company’s Renewable Energy Business focuses its efforts in the R&D of improved energy efficiency and development of new generating technologies; more explicitly in the areas of offshore wind, thermal solar, biomass, marine energy, generation forecasting, network integration, infrastructure efficiency and smart grids among others. The Company has allocated 500 M Euros for R&D in these sectors. Iberdrola compliment its R&D efforts with technology initiatives such as PERSEO, the Company’s venture capital programme. PERSEO is an initiative that uses Iberdrola development capital to invest in innovative renewable electrical energy generation technologies and technologies that reduce the environmental impact of existing generation systems. PERSEO has an initial annual budget of 6 million euros to ensure the presence of Iberdrola in the technologies of the future. Among the PERSEO technological lines are: • Marine energy. • Solar energy (both photovoltaic and thermoelectric). • CO2 capture through the production of biofuels. • Other technologies aimed at the production and distribution of clean electrical energy.

Iberdrola: Morgan Solar, ANDRITZ HYDRO, Westec Environmental Solutions (WES)