IBERDROLA RENOVABLES STARTS CONSTRUCTION OF WORLD’S LARGEST WIND POWER COMPLEX IN ROMANIA
Iberdrola is developing its wind farms in Romania with Eólica Dobrogea
- The company has begun construction work on the 80 MW Mihai Viteazu wind farm, Iberdrola Renovables’ first facility in Romania, slated to come on stream by year-end
- The facility is phase one of the Dobrogea wind Complex, which entails up to 50 farms with combined capacity of 1,500 MW
- Iberdrola Renovables is already the leader wind power company in Eastern Europe, with projects in Poland, Hungary, Estonia and Bulgaria, as well as Romania
IBERDROLA RENOVABLES, global leader in wind power*, has begun construction work at the 80 megawatt (MW) Mihai Viteazu wind farm in Romania. This facility will be the company’s first in Romania. The wind farm is being built in the Constanza district in the Dobrogea region in southeast Romania.
The Mihai Viteazu facility is to be built with Gamesa technology (comprising forty 2 MW wind turbines) and will be commissioned by year-end. The construction work is being led by IBERDROLA INGENIERÍA Y CONSTRUCCION.
This facility marks phase one in the construction of the Dobrogea wind Complex, the most ambitious renewable energy project in the world to date.
This large-scale project will entail the start-up of as many as 50 wind farms with combined capacity of up to 1,500 MW. The company plans to build these facilities gradually between 2011 and 2017.
The output generated by this vast wind complex will enable the company to generate enough power in Romania to supply around one million households, the equivalent of the population of the capital city Bucharest, while also curbing annual CO2 emissions by 1.25 million tonnes.
IBERDROLA RENOVABLES has already signed an off-take agreement with the Romanian network operator (Transeléctrica) setting the terms for connecting the planned 1,500 MW of new capacity to the national grid, including the agreement for the grid connection of phase one, encompassing 600 MW. This agreement covers the largest volume of grid-connected wind power in Europe to date.
IBERDROLA RENOVABLES is pursuing all its initiatives in Romania with local company Eolica Dobrogea SRL (owned by the Swiss engineering group NEK Umwelttechnik AG and the Romanian companies C-Tech Srl and Rokura Srl). This company, which is at the forefront of the Romanian renewables industry, has been entrusted with the development tasks – planning and obtaining the construction permits – while IBERDROLA RENOVABLES is responsible for constructing and operating the wind farms.
The company opened an office in Bucharest in 2009 with a view to further reinforcing its presence in Eastern Europe, where it already has operating wind farms in Poland (161 MW) and Hungary (158 MW) and is backing other developments in Estonia and Bulgaria, making IBERDROLA RENOVABLES the leading wind power player in the region.
IBERDROLA RENOVABLES, with operations in 23 countries, built more renewable capacity in 2010 than any other utility in the world, bringing 1,780 MW on stream. This has helped strengthen the company’s status as the global leader* in renewable energy by capacity (12,532 MW at year-end 2010) and output (25,500 GWh produced last year).
* Source: Bloomberg New Energy Finance
LEGAL NOTICE:
DISCLAIMER
This document has been prepared by Iberdrola Renovables, S.A. exclusively for its use regarding the presentation of financial results for the full 2009 fiscal year. As a consequence thereof, this document may not be disclosed or published, nor used by any other person or entity, for any other reason without the express and prior written consent of Iberdrola Renovables, S.A.
Iberdrola Renovables, S.A. does not assume liability for this document if used for different purposes thereof.The information and all statements contained in this press release 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 and statements expressed herein.
Neither Iberdrola Renovables, S.A., its subsidiaries or any entity within Iberdrola Group or subsidiaries, or any company participated by Iberdrola Renovables, S.A., assume liability of any kind, whether for negligence or any other reason, for any damage or loss arising from any use of this press release or its contents. The Information contained in this press release about the price at which securities issued by Iberdrola Renovables, S.A. have been bought or sold in the past or about the yield on securities issued by Iberdrola Renovables, S.A. cannot be relied upon as a guide to future performance. Neither this press release nor any part of it constitutes a contract, nor may it be used for incorporation into or construction of any contract or agreement.
IMPORTANT INFORMATION
This press release does not constitute an offer or invitation to purchase or subscribe shares, in accordance with the provisions of the Spanish Securities Market Act (Act 24/1988, of 28 July), Royal Decree Act 5/2005, of 11 March, and/or Royal Decree 1310/2005, of 4 November, and its implementing regulations.
Particularly, this press release does not constitute an offer to purchase, sell or exchange or the solicitation of an offer to purchase, sell or exchange any securities in the United States of America. The shares of IberdrolaRenovables, 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.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking information and statements about Iberdrola Renovables, S.A. These forward looking statements relate to financial projections and estimates and their underlying assumptions, statements regarding plans, targets and expectations with respect to future operations, capital expenditures, synergies, products and services, and statements regarding future performance. Forward-looking statements are statements that are not historical facts and are generally identified by the words “expects”, “anticipates”, “believes”, “intends”, “estimates” and similar expressions.
Although Iberdrola Renovables, S.A. believes that the expectations reflected in such forward-looking statements are reasonable, investors and shareholders in Iberdrola Renovables, S.A. are cautioned that forward-looking information and statements are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of Iberdrola Renovables, S.A., that could cause actual results and developments to differ materially from those expressed in, or implied or projected by, the forward looking information and statements. These risks and uncertainties include those discussed or identified in the public documents sent by Iberdrola Renovables, S.A. to the Comisión Nacional del Mercado de Valores (the Spanish securities regulator, or the CNMV in its Spanish initials).
The forward-looking statements are no guarantee whatsoever of future results and have not been reviewed bythe auditors of Iberdrola, Renovables S.A. You are cautioned not to place undue reliance on the forward looking statements, which speak only as of the date they were made. All oral or written forward-looking statements attributable to Iberdrola, Renovables S.A. or any of its board members, directors, officers, employees or any persons acting on its behalf are expressly qualified in their entirety by the cautionary statement above. All forward-looking statements included herein are based on information available on the date hereof. Except as required by applicable law, Iberdrola, S.A. does not undertake any obligation to publicly update or revise any forward-looking statements, even in the event of new information being published or new events occurring.