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ACCIONA Energy (EN)

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June 2012

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Page 1: ACCIONA Energy (EN)

Energy

ENERGYWORKINGWITH LIMITLESSENERGY

Page 2: ACCIONA Energy (EN)

contents

0A global leader

4. 0Reasons f

6.or

1Economic

4.

1Ener

6.gy

in renewable leadership figures figuresenergies

18. Wind power. 34. Hydroelectric power.

26. Wind turbines. 36. Biomass.

28. Concentrating solar power. 38. Biofuels.

32. Photovoltaic energy.

40.Marketing

44.Energy

46.Electric

Inno

48.vation

Comm

50.unity

energy efficiency vehicles and

environment

Page 3: ACCIONA Energy (EN)

ACCIONA is one of Spain’s leading corporations, a front-runner in promoting and managing infrastructures, renewable energies, water and services. The Company goes back a hundred years and is made up of 30,000 professionals, and it is to be found in thirty countries on five continents. ACCIONA is an Ibex-35 listed company and an industry benchmark. In 2011, it posted 6.46 billion euro in revenues.

ACCIONA’s position as a pioneer in sustainability and development expresses its ability to use its full range of business activities to respond to the challenges posed by sustainable development. Among other specific commitments, ACCIONA sets out to gradually reduce its carbon footprint and lead the way towards a low-carbon economy. As a result, ACCIONA’s activities and businesses avoided 11.7 million metric tons of CO2

emissions to the atmosphere in 2011.

ACCIONA’s strategy revolves around sustainability principles and social wellbeing as vectors for economic growth, environmental balance and social progress. This commitment is underscored by the fact that the Company is a component of several highly reputed sustainability indices, such as the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Stoxx Sustainability Index (DJSI Stoxx), in which ACCIONA obtained the highest score in its sector. In 2012 it ranked 37th —the top Spanish company— in the Global 100 Most Sustainable Corporations in the World, a table compiled by Corporate Knights.

ACCIONA’s has consolidated its bet on innovation by stepping up investment and coming up with more and more projects, programmes and resources. Our intention is clear: we aim to continue to lead the field in more sustainable solutions and alternatives.

ACCIONA, pioneers indevelopment and sustainability

Page 4: ACCIONA Energy (EN)

ACCIONA Energy, a global leader in renewable energiesACCIONA Energy is a global renewable energy operator, the world’s biggest devoted entirely to renewable sources of energy.

With more than 20 years’ experience in the sector, the Company holds major assets based on seven clean technologies (wind, solar thermal, photovoltaic, hydroelectric, biomass, biodiesel and bioethanol) in twelve countries on four continents.

Since wind energy is the Company’s main business, ACCIONA Energy holds stakes throughout the entire wind energy value chain, with activities in project development, engineering and construction, industrial-scale wind generator manufacturing, wind farm operation and maintenance and energy sales.

ACCIONA Energy has a wide-ranging portfolio of proprietary assets and

projects; it also offers a large number of services to a vast array of clients interested in investing in or developing renewable energy projects.

And it does this with a strong, multidisciplinary management team that has a wealth of international experience and a highly skilled staff of over 2,000 people.

4 // 5 A GLOBAL LEADER IN RENEWABLE ENERGIES

///// ACCIONA ENERGY, BY THE NUMBERS

CUMULATIVE FIGURES AT 31/12/11

Owned capacity (MW) 8,211

Comulative investment (€M) 12,290

ANNUAL FIGURES FOR 2011

Total electricity production (GWh) 17,749

CO2 emissions avoided (million metric tons) 11.4

Revenues (€M) 1,650

EBITDA (€M) 956

EBIT (€M) 101

CAPEX (€M) 802

ACCIONA Energy’s main business focus is wind power.

Page 5: ACCIONA Energy (EN)
Page 6: ACCIONA Energy (EN)

6 // 7 A GLOBAL LEADER IN RENEWABLE ENERGIES

Reasons for leadership

Key points in our position

06. Skilled management team

With plenty of experienced staff

01.Twenty years’ experienceMore than anybody else in the sector

03. Throughout the value chainCompetitive edge and maximum returns

04. All over the world

In key markets

05. Multiple products and services

For a wide range of clients

02. Renewable energy onlyAnd in a wide range of technologies

Page 7: ACCIONA Energy (EN)

AW-3000 prototype

First concentrated solar power plant

Zero-Emissions Building

Biodiesel plant

First hydroelectric plants

First wind farm

Biomass plant

Proprietary wind turbine prototype

First photovoltaic facility

First electric car initiatives

Bioethanol plant

Milestones and development in installed capacity (MW)

2011

8,211

1991

23

1992

33

1994

45

1995

89

1996

150

1997

247

1998

396

1999

602

2000

833

2001

1,094

2002

1,308

2003

1,791

2004

2,204

2005

2,647

2006

3,337

2007

4,090

2008

4,871

2009

7,437

1993

36

2010

7,587

1990

19

TWENTY YEARS’ EXPERIENCE More than anybody else in the sector01

Page 8: ACCIONA Energy (EN)

8 // 9 A GLOBAL LEADER IN RENEWABLE ENERGIES

RENEWABLE ENERGY ONLYOperating in seven technologies02

///// HORIZONTAL INTEGRATION

ELECTRICITY (MW) BIOFUELS (t)

WIND CSP PHOTOVOLTAIC HYDROELECTRIC BIOMASS BIODIESEL BIOETHANOL

Owned 6,920 264 48 912 57 283,000 33,000

Clients 1,472 1 67

TOTAL 8,392 265 115 912 57 283,000 33,000

TOTAL OWNED CAPACITY: 8,211 MW (*)

TOTAL INSTALLED CAPACITY: 9,766 MW (**)

Figures at 31/12/11. (*) This includes 1 MW of solar hot water and 77 MW of cogeneration. (**) In addition to previous figures, this includes 15 MW of solar hot water.

Page 9: ACCIONA Energy (EN)

ALL OVER THE WORLDIn key markets

ACCIONA Energy facilities at 31.12.2011 (in MW)

Canada 181

Portugal 165

USA 686

Germany 150

Spain 5,818

Greece 48

Italy 92

Australia 305

South Korea 62

India 86

Hungary 24Wind 4,637Hydroelectric 912CSP 200Biomass 57Photovoltaic 2Solar hot water 1Cogeneration 9

Wind 119Photovoltaic 46

Wind 622 CSP 64

Mexico 556

* In the countries where no technology is specified, the facilities are wind-powered.

OWNED FACILITIES FACILITIES FOR THIRD PARTIES ONLY

Poland 38

03

Page 10: ACCIONA Energy (EN)

10 // 11 A GLOBAL LEADER IN RENEWABLE ENERGIES

THROUGHOUT the value chain04

INDUSTRIAL OPERATION, ENERGY SALES AND SERVICES

Project development

Wind turbine manufacturing

Financing

Marketing

O&M

Ownership

Engineering

Construction

DEVELOPMENT

Activities

Value chain

Vertical integration

Page 11: ACCIONA Energy (EN)

A BROAD RANGE OF SERVICES for a variety of costumers

Development Wind turbines

Biomass Energy marketing

Energy efficiency O&M management

Multi-Service Multi-Client

Financial investors

Governments and institutions

Power companies

Other agencies and organizations

05

Page 12: ACCIONA Energy (EN)

12 // 13 A GLOBAL LEADER IN RENEWABLE ENERGIES

04 SKILLED MANAGEMENT TEAM With plenty of experienced staff

Employee distribution in 2011

66% 69%

34% 31%

ENERGY BUSINESS SPAIN INDUSTRIAL BUSINESS OTHER COUNTRIES

Workforce development

2,311 2,310

1,640

2007 2009 2011

Operators in the Company’s wind turbine blade manufacturing plant.

Page 13: ACCIONA Energy (EN)
Page 14: ACCIONA Energy (EN)

14 // 15 A GLOBAL LEADER IN RENEWABLE ENERGIES

ACCIONA ENERGY ECONOMIC FIGURESMillion euros

///// KEY FIGURES 2011

Revenues 1,650

EBITDA 956

EBT 101

Revenues EBITDA EBTMillion € Million € Million €

1,650 956 101

1,497 82181

+10% +24%+16%

2010 2011 2010 2011 2010 2011

The CSP plant at Majadas, Cáceres (Spain).

Page 15: ACCIONA Energy (EN)
Page 16: ACCIONA Energy (EN)

16 // 17 A GLOBAL LEADER IN RENEWABLE ENERGIES

ACCIONA ENERGY FACILITIESCumulative figures (in MW) at 31/12/11

///// ELECTRICITY

OWNED FACILITIES

TOTAL CAPACITY

ATTRIBUTABLECAPACITY

Wind 6,920.53 6,054.23

Concentrating solar power 264.00 264.00

Photovoltaic 48.26 32.51

Solar hot water 0.72 0.72

Hydroelectric 911.89 911.89

Biomass 57.00 57.00

RENEWABLES 8,202.40 7,320.35

Cogeneration 9.00 8.55

TOTAL 8,211.40 7,328.90

BUILTFOR CLIENTS

TOTAL CAPACITY

Wind 1,471.67

Concentrating solar power 1.00

Photovoltaic 67.10

Solar hot water 15.17

TOTAL 1,554.94

///// BIOFUELS

OWNEDCAPACITY

TOTALCAPACITY (t)

ATTRIBUTABLECAPACITY (t)

Biodiesel 283,000 283,000

Bioethanol 33,000 16,500

TOTAL 316,000 299,500

Page 17: ACCIONA Energy (EN)

ACCIONA ENERGY PRODUCTION2011 annual figures (in GWh)

///// ELECTRICITY

OWNED FACILITIESTOTAL

PRODUCTIONATTRIBUTABLEPRODUCTION

Wind 14,810.1 12,731.3

Concentrating solar power 454.1 454.1

Photovoltaic 96.5 64.6

Hydroelectric 1,933.5 1,933.5

Biomass 434.0 434.0

RENEWABLES 17,728.2 15,617.5

Cogeneration 20.4 19.4

TOTAL 17,748.6 15,636.9

Production developmentAnnual figures (in GWh)

17,749

13,569

8,539

5,105

2005 2007 2009 2011

ACCIONA production by technologies2011 figures (in percentages)

83.4% 10.9%Wind Hydroelectric

2.6%CSP

2.5%Biomass

0.5%Photovoltaic

0.1%Cogeneration

Page 18: ACCIONA Energy (EN)
Page 19: ACCIONA Energy (EN)

WIND POWER 7,000 proprietary MWThe wind power assets at ACCIONA’s disposal at 31/12/11 amount to 6,921 MW capacity, making ACCIONA a global leader.

These facilities are spreadacross 225 wind farmslocated in thirteen countrieson four continents. Theattributable power, i.e.the portion of powerproportional to ACCIONA’sshare of facility ownership,comes to 6,054 MW.

ACCIONA installed 651 MWof wind power capacity in2011, 93% of it outside Spain.

Over the next two years, the Company intends to expand its implementation further, and it will have wind farms operating in 16 countries on five continents.

ACCIONA has also built 58wind farms for clients, atotal of 1,472 MW. A largepercentage of them areoperated by the Group.

The Company develops,builds, sells and operateswind farms for clientsanywhere in the world,and provides buyers withthe know-how of theworldwide developer thatdoes business in morecountries, and delivers thebest wind farm performance.

The Company’s wind farmsgenerated 14,810 GWh in 2011

Page 20: ACCIONA Energy (EN)

20 // 21 A GLOBAL LEADER IN RENEWABLE ENERGIES

ACCIONA Energy wind power facilities Cumulative figures at 31.12.2011

FACILITIES OWNED BY THE COMPANY FACILITIES BUILT FOR OTHERS ONLY FACILITIES UNDER CONSTRUCTION IN 2012 AND 2013

Canada181

USA622

Mexico556

Costa Rica

Page 21: ACCIONA Energy (EN)

Germany150

France

Spain4,637

Portugal119

Morocco

Greece48

Italy92

Australia305

South Korea62

India86

Hungary24

Poland38

Croatia

South Africa

Page 22: ACCIONA Energy (EN)
Page 23: ACCIONA Energy (EN)

///// ACCIONA ENERGY WIND POWER IMPLEMENTATION

COUNTRIESNO. OF

FACILITIESTOTAL

CAPACITY (MW)ATTRIBUTABLE

CAPACITY (MW)

OWNED FACILITIES 225 6,920.53 6,054.23

Spain 164 4,637.35 3,968.95

USA 6 621.63 547.38

Mexico 4 556.50 556.50

Canada 4 181.00 103.00

Australia 3 304.50 271.50

Germany 15 150.30 150.30

Portugal 17 119.70 119.70

Italy 4 91.80 91.80

Greece 2 48.45 48.45

Poland 1 38.00 38,00

Hungary 1 24.00 11.35

India 3 85.80 85.80

South Korea 1 61.50 61.50

BUILT FOR CLIENTS 58 1,471.67

Spain 38 1,354.29

France 17 105.58

Italy 2 1.60

Morocco 1 10.20

TOTAL INSTALLED WIND POWER CAPACITY 283 8,392.20

SPAIN 202 5,991.64

OTHER COUNTRIES 81 2,400.56

Parque de Cathedral Rocks (66 MW), en la costa de South Australia.

Page 24: ACCIONA Energy (EN)

Tatanka wind farm (180 MW), in North and South Dakota, USA.

24 // 25 A GLOBAL LEADER IN RENEWABLE ENERGIES

Page 25: ACCIONA Energy (EN)

Las Oaxacas (306 MW), in Mexico, the largest wind power complex in Latin America.

Boira wind farm (34.5 MW), Spain.

Cathedral Rocks Wind Farm (66 MW), on the coast of South Australia.

Page 26: ACCIONA Energy (EN)

26 // 27 A GLOBAL LEADER IN RENEWABLE ENERGIES

WIND TURBINES Proprietary technologyACCIONA Windpowerproduces wind turbinesusing proprietary technology.It has different models tomake the most of wind powerpotential at different sites.

The Company has twoproduction plants in Spain(in Barásoain, Navarre, andin La Vall D’Uixó, ValenciaRegion) and a third plant inthe United States (in WestBranch, Iowa).

ACCIONA Windpoweralso has a WTG blademanufacturing plant inLumbier, Navarre, Spain.

The company markets1.5 MW and 3.0 MWcapacity wind turbines,with rotor diameters from70 to 116 meters and withsteel or concrete towers.

In eight years ACCIONAWindpower has

manufactured a total of2,559 wind turbines, with atotal generating capacity of3,844.50 MW. Its productshave been shipped to windfarms in twelve countries.

In 2012 and 2013 the Company will assemble wind turbines for wind parks in five more countries: Poland, Brazil and South Africa (3 MW machines) and Croatiaand Costa Rica (1.5 MW).

Turbines for wind farms in 17 countries

Canada

USA

Mexico

Chile

United Kingdom

France

Spain

Italy

Greece

Australia

South Korea

China

Poland

South Africa

Croatia

Costa Rica

Brazil

OPERATIONAL WIND FARMS WIND FARMS UNDER CONSTRUCTION IN 2012 AND 2013

Page 27: ACCIONA Energy (EN)

Top: ‘Launch’ of the first 3-MW wind turbine prototype.Bottom: wind turbine blade manufacturing plant.

1.5-MW wind turbine, installed in awind park in Spain.

Page 28: ACCIONA Energy (EN)

28 // 29 A GLOBAL LEADER IN RENEWABLE ENERGIES

CONCENTRATING SOLAR POWERA world leaderSince ACCIONA Energy grid connected its first thermalsolar (CSP) plant to the gridin 2007, the company hasbecome one of the majordevelopers of this technologyin the world, with five plantsinstalled and a sixth underconstruction at the end of2011. The total capacity ofthese installations is 314 MW.

ACCIONA was a pioneer inthe resurgence of thermalsolar power in the worldthrough the entry into serviceof Nevada Solar One (2007),located in the Nevada desert(USA). It has been followed by five 50-MW plants in Spain:

Alvarado (Badajoz), Majadas(Cáceres), Palma del Río Iand II (Córdoba), withOrellana (Badajoz) comingon stream in 2012.

In 2011 ACCIONA CSPplants produced 454 GWh,representing an increase of111% on the figure for theprevious year.

The company has in-houseparabolic trough technologyin its CSP plants and carries out intense innovation work aimed at increasing efficiency and reducing costs in this kindof installation.

///// ACCIONA CSP IMPLEMENTATION

COUNTRYNUMBER OF

PLANTSATTRIBUTABLE

CAPACITY

Operational USA/Spain 5 264

Under construction* Spain 1 50

TOTAL 6 314

* Operational by summer 2012.

Location of CSP projects

USA

Spain

PROPRIETARY AND OPERATIONAL UNDER CONSTRUCTION IN DEVELOPMENT

Page 29: ACCIONA Energy (EN)

ACCIONA’s CSP plants in

Nevada, USA, and Alvarado, Spain.

Page 30: ACCIONA Energy (EN)

30 // 31 A GLOBAL LEADER IN RENEWABLE ENERGIES

Parque eólico de Boira (34,5 MW) en España.

Palma del Río II Concentrating Solar Power

Plant, Córdoba (Spain).

Page 31: ACCIONA Energy (EN)

Palma del Río II Concentrating Solar Power

Plant, Córdoba (Spain).

Majadas Concentrating Solar Power Plant, Cáceres (Spain).

Palma del Río I & II. CSP plants, Córdoba (Spain).

Page 32: ACCIONA Energy (EN)

32 // 33 A GLOBAL LEADER IN RENEWABLE ENERGIES

///// ACCIONA SOLAR PV IMPLEMENTATION

COUNTRYTOTAL

CAPACITYATTRIBUTABLE

CAPACITY

Company owned assets

Spain 2.48 2.48

Portugal 45.78 30.03

48.26 32.51

Assets built for clients Spain 67.10

TOTAL 115.36

PHOTOVOLTAIC ENERGYNew international projectsACCIONA is thoroughly experienced in developing, building and operating photovoltaic power plants, with more than 115 MW connected to the grid.

The Company has put into operation more than 69 MWp of photovoltaic capacity to the Spanish grid. Most of it comes from what are known as ‘huertas solares´(solar gardens), privately owned photovoltaic facilities that share common services managed by ACCIONA.

ACCIONA has built 19 solar gardens of this sort, almost 62 MWp of photovoltaic capacity,

in which more than 3,500 private citizens have invested 456 million euros.

In late 2008 ACCIONA hooked up a 45.8-MWp PV solar plant to the grid in Amaraleja, a parish in Moura, Portugal. The Amareleja facility is one of the biggest PV plants in the world. It covers 250 hectares and is partly-owned (34%) by Mitsubishi Corporation.

ACCIONA has been awarded the construction and running of a 74 MW nominal PV solar facility (94 MWp) in South Africa. The plant will be up and running in 2014.

Status of Solar PV facilities

Portugal

Spain

ASSETS OWNED BY THE COMPANY

Dark grey background, regions of Spain where there are photovoltaic facilities ACCIONA has built for clients.

South Africa

PROJECT UNDER CONSTRUCTION IN 2013

Page 33: ACCIONA Energy (EN)

Opening ceremony at a solar garden in Spain.

45.8-MWp solar PV plant in Amareleja (Moura, Portugal).

Page 34: ACCIONA Energy (EN)

34 // 35 A GLOBAL LEADER IN RENEWABLE ENERGIES

HYDROELECTRIC POWER80 plants up and runningACCIONA has 912 MW of hydro capacity in 80 plants located in Spain, making hydroelectric the Company’s second biggest technology in terms of facilities in operation.

The plants are spread over seven autonomous regions of Spain: Aragon (744 MW), Navarre (76 MW), Cantabria (45 MW), Catalonia (41 MW), Castile-Leon (4 MW), La Rioja (1 MW) and the Valencia Region (1 MW).

Not all the hydroelectric capacity ACCIONA owns is operated under the same rules; 680 MW are run under the ordinary (conventional) electricity generation

procedure, and the power they produce is marketed as part of the Spanish electricity pool, without the premium assigned to energy produced from renewable sources. A further 232 MW come under the Special Regime and this production is sold with the premium referred to above.

The plants under the ordinary procedure generated a total of 1,305.5 GWh in 2011 (68% of the total), and the plants under the special procedure accounted for 627.9 GWh (32%).

Altogether, that made 1,933.4 GWh, which added up to 11% of the Company’s power production.

Location of hydroelectric assets Capacity in MW

45Spain 76

1 417444

1

IN OPERATION

///// ACCIONA HYDROPOWER IMPLEMENTATION

COUNTRYGENERATION TYPE Nº PLANTS

ATTRIBUTABLE CAPACITY (MW)

SpainOrdinary procedure 36 680.20

Special procedure 44 231.69

TOTAL 80 911.89

Page 35: ACCIONA Energy (EN)

ACCIONA’s hydroelectric plant in the Aragonese Pyrenees, Spain.

Page 36: ACCIONA Energy (EN)

36 // 31 UN LÍDER GLOBAL EN RENOVABLES

Page 37: ACCIONA Energy (EN)

BIOMASSThree operational plantsACCIONA is a benchmarkcompany in the design,construction and operation ofbiomass plants for electricityproduction.

It was a pioneer in the fieldwith the opening of a 25-MWpower station at Sangüesa(Navarre, Spain) in 2002 based on straw combustion.

It has since put two moreplants into service, in Briviesca (Burgos) and Miajadas (Cáceres).Each has a capacity of 16 MW, taking the company’s total operational capacity in this technology to 57 MW.

The Miajadas plant is the firstof its kind in Spain tocombine grassy and woody raw material, which makes operation more flexible and allows a greater diversity of fuel sources.

ACCIONA is currently applying for administrative approval for a number of biomass plant projects in different Spanish regions.

It has, therefore, provenexperience in both the designand operation of this type ofinstallation, and also in thelogistics of supply to the plants.

The electricity we generatedfrom biomass in 2011 was434 GWh, 69% up on theprevious year.

ACCIONA offers a rangeof services to customers inthe field of biomass, withprojects for plants that includeengineering, construction andoperation, together with thesupply logistics for fuel sources.

Location of biomass facilities

Spain

FACILITIES IN OPERATION

///// ACCIONA BIOMASS IMPLEMENTATION

COUNTRYNº OF

PLANTSATTRIBUTABLE

CAPACITY(MW)

In operation Spain 3 57

TOTAL 3 57

ACCIONA’s biomass plantsin Burgos and Navarre, Spain.

Page 38: ACCIONA Energy (EN)

38 // 39 A GLOBAL LEADER IN RENEWABLE ENERGIES

BIOFUELSIn biodiesel and bioethanol

ACCIONA is a player in the biofuel field, adept at the technology involved in producing both biodiesel and bioethanol.

It has two biodiesel plants in operation, capable of putting out 283,000 metric tons of fuel a year. The first plant, located in Caparroso, Navarre, (83,000-metric ton capacity) was opened in 2005; the second (200,000-metric ton capacity) is located in Puerto de Bilbao, in the Basque Country, and went into business in early 2009. Both produce biodiesel from virgin vegetable oils.

ACCIONA produces bioethanol at a plant with the capacity for 33,000 metric tons of output a year, situated in Alcázar de San Juan, Castile-La Mancha. The plant was commissioned in 2006.

The plant makes bioethanol from alcohol produced by the wine industry.

ACCIONA also has a microalgae laboratory and pilot plant on the premises of its plant in Caparroso, where it is looking into the technical and economic feasibility of using algae as the raw material to produce biofuels.

Location of biofuels facilities

Biodiesel

Spain

Bioethanol

FACILITIES IN OPERATION

///// ACCIONA’S BIOFUELS IMPLEMENTATION

TECHNOLOGYNº OF

PLANTS

ANNUAL PRODUCTION CAPACITY (t)

Operational Biodiesel 2 283,000

Bioethanol* 1 33,000

TOTAL 3 316,000

*ACCIONA holds a 50% stake in the bioethanol plant.

Page 39: ACCIONA Energy (EN)

Biodiesel plant in Navarre (Spain).

Bioethanol plant in Castile-La Mancha (Spain).

Page 40: ACCIONA Energy (EN)

MARKETING ENERGYto the end-customerACCIONA Energy marketselectricity of renewableorigin to major consumers inSpain through a subsidiary,ACCIONA Green EnergyDevelopments, thuscompleting the last link inthe energy sector value chain.

In 2011 ACCIONA sold morethan 1,000 GWh of cleanenergy to end-customers.This figure will triple in 2012,thanks to supply contractssigned with major companies

such as Adif, Aena, Telefónica,Metro de Madrid, Acuamed,Banco Santander and Tetrapak, among others.

The Company provides itsend-customers with energycertified as 100% renewableby the Spanish NationalEnergy Commission (CNE).

Furthermore, ACCIONAGreen manages sales ofenergy produced by itsown facilities and facilities

belonging to other clients (atotal of over 6,338 MW atend-2011) to the Spanishelectricity pool.

In that year the Companysold 13,572 GWh on theSpanish market, equivalent tothe demand of more than 4million homes.

40 // 41 A GLOBAL LEADER IN RENEWABLE ENERGIES

Electricity sources in Spain in 2011

Production mix in the Spanish electricity system

19.8% 1,2% Nuclear Other

2.5% Fuel/Gas 31.1%

Renewable

15.6% Coal 2.4%

High-efficiency cogeneration

17.6% Combined-cycle 9.8%

natural gas Cogeneration

ACCIONA Green’s production mix

100%Renewable

Page 41: ACCIONA Energy (EN)

Our clean energy runs essential services for a sustainable modelof development. We provide the power for customers such asAdif (top), Metro de Madrid and Aena.

Page 42: ACCIONA Energy (EN)

42 // 43 A GLOBAL LEADER IN RENEWABLE ENERGIES

Page 43: ACCIONA Energy (EN)

A CONTROL CENTERand world-class pioneering facilityThe Navarre headquarters of ACCIONA Energy plays host to CECOER, the Renewable Energy Control Center. With CECOER the Company can supervise the operation of all the Group’s facilities plus the facilities ACCIONA operates on behalf of other owners in 14 countries on four continents, in real time.

CECOER is one of the biggest renewable energy control center in the world. By early 2012 it was managing data from facilities capable of producing over 9,000 MW of power. This included:

254 wind farms with 6,620 wind generators

81 hydroelectric plants 8 CSP and PV plants. 12 biomass and cogeneration plants.

289 substations.

CECOER, which is open 24/7, detects any incidents occurring at any facility in real time, and can troubleshoot more than 50% of the problems remotely. This means production facilities can uphold high availability levels.

Using proprietary prediction models, the center also sends the Spanish electricity system operator, REE, more than 3,000 yearly production schedules, with very low penalties for deviation. Furthermore, CECOER interacts constantly with REE to facilitate maximum integration of the renewable energy produced.

CECOER, The ACCIONA RenewableEnergy Control Center.

Page 44: ACCIONA Energy (EN)

44 // 45 A GLOBAL LEADER IN RENEWABLE ENERGIES

ENERGY EFFICIENCYfirst zero-emission buildingACCIONA is breaking new ground in energy-efficient, sustainable building design, a realm in which it offers its clients end-to-end services, from the drawing board on up. The Company’s Energy Efficiency team has long years’ experience in ecoefficient building consultancy, auditing and engineering. They plan buildings whose energy consumption is pared to a minimum; they design the most-efficient power generation and distribution systems; and they incorporate the most-suitable renewable technologies.

The Company also provides clients with building energy management services, which afford major savings in energy consumption; and it has an energy efficiency and management control centre for the on-line tracking of parameters such as a facility’s energy performance and emissions.

ACCIONA Energy is working on projects for building and industry all over the world. One of the headline projects it has been involved in is Spain’s first ‘zero-emissions’ building for commercial use, located in Navarre.

Status of actions

SUSTAINABLE BUILDINGS ENERGY SERVICES

///// ENERGY SERVICES

PROJECT LOCATION

Infanta Sofía Hospital Madrid

ACCIONA Logística building Barcelona

ACCIONA buildings Madrid and Navarre

Vigo New Hospital Pontevedra

ACCIONA Technological Center Madrid

///// SUSTAINABLE BUILDINGS

PROJECT LOCATION

ACCIONA Zero-Emission Building Sarriguren (Navarre)

Photovoltaic module plant Moura (Portugal)

Milla Digital Zero-Emission Building Zaragoza

Afrisol Building, Almeria Solar Platform Almería

Eco-efficient homes Girona, Mallorca, Tenerife

Mollet del Vallés Hospital Barcelona

Mieres Hospital Asturias

Deusto University classroom building Guipúzcoa

Vigo New Hospital Pontevedra

Innovation Zone Barcelona Barcelona

Page 45: ACCIONA Energy (EN)

PV solar panels

North facadeWest facade

East facade

Skylights

Geothermalsystem

Cement tube bundles

Thermal exchange

Air intake

Land5.000 m2

80% Green zone

20% Built

Outside air

Windows

South facade

Solar thermalcollectors

PV solar panels

Greenhouse

ZERO EMISSIONS BUILDING

The corporate headquarters for ACCIONA’s photovoltaic business has been designed to cover all the building’s energy needs without emitting CO2, thanks to building solutions and systems that save 52% of the energy a conventional building would spend, plus the use of four renewable technologies that provide the remaining 48% energy savings. This is the first non-experimental certified zero-emissions building in Spain.

The building that produces its own energy

Operators at ACCIONA’s Energy Efficiency and Management Control Center.

Page 46: ACCIONA Energy (EN)

46 // 47 A GLOBAL LEADER IN RENEWABLE ENERGIES

ELECTRIC VEHICLESFor five types of clientsACCIONA has taken up a dual position in the field of Electric Vehicles (EV): as a developer of vehicle-recharging infrastructure (with a business model that includes the installation of recharging stations, station operation and associated services), and as a supplier of certified 100% renewable electricity. ACCIONA has signed or may sign agreements with different types of clients for whom EV are a factor to begin considering:

Auto manufacturers who want to be able to bundle recharging infrastructure into the package people buy with EV. For example, ACCIONA has signed a contract with Renault Spain.

Car park managers that want to have recharging posts set up on their premises. Agreements of this

sort have been reached with Comfersa (which manages car parks of Renfe and Adif in Spain) and Unibail Rodamco (which manages big shopping centres).

Government administrations keen to installing recharging stations on streets and in public car parks, like the five-station pilot network in Pamplona, which was installed in cooperation with the Pamplona city government and the regional government of Navarre.

Companies that want to run electric cars in their fleets.

Private citizens’ and tenants’ associations, that want recharging stations in their private garages or building car parks.

Location of recharging stations in operation

Dark grey background, regions of Spain where ACCIONA has installed

recharging posts.

///// OPERATIONAL RECHARGING POSTS FOR ELECTRIC VEHICLES

CLIENT TYPE UNITS

Automakers 156

Shopping centres 28

Railroad stations 38

Government 5

Other companies 2

TOTAL 229

Accumulated posts forecast by end-2012: 600

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An ACCIONA recharging post next to an electric car by Renault, and a vehicle recharging site on a Pamplona (Spain) street.

Page 48: ACCIONA Energy (EN)
Page 49: ACCIONA Energy (EN)

INNOVATIONThe key to the futureInnovation is a priority for the entire ACCIONA Group, whose mission is to pioneer the fields of development and sustainability. ACCIONA Energy subscribes to this strategic premise and applies it to research, development and innovation in the different renewable technologies it handles, in order to offer increasingly efficient, competitive energy solutions.

The Energy Division invested 45 million euros in R&D and Innovation in 2011 and is participating significantly in the boost ACCIONA plans to give innovation: ACCIONA foresees investing a total of 400 million

euros in innovation in 2010-2013, doubling its efforts of the last four years. The heart of the Energy Division’s R&D activity is at the ACCIONA Technological Center in Pamplona.

///// ACCIONA ENERGY’S MAIN R&D PROJECTS

TECHNOLOGY PROJECT OBJET

Offshore wind power HiPRWind Floating structures

Azimut High-power wind generator

Marina Integration of Renewable marine energy

Cenit Ocean Lider Sustainability, wave energy

Float solutions Floating wind turbines

Land-based wind power 3D Navigation Wind generator interaction in signalling

Advocat Blade maintenance

Bioenergy Microalgae New business models

Decocel Energy crops

Enercorn High-efficiency biomass plant running on corn waste

PSE-On cultivos Energy crops

Solar Ilis Improved integration of PV plants in the grid

Store Energy storage

Hydrogen Irhis Micro-grids with renewables

Desphega Electrolysis technology

A computer-generated image of a floating wind turbine designed for deep waters.

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50 // 51 A GLOBAL LEADER IN RENEWABLE ENERGIES

COMMUNITY AND ENVIRONMENTCommitted to the world around usIn line with the Group’s philosophy, ACCIONA Energy is guided in its business ventures by the criteria of sustainability, in all three facets: economic sustainability, social sustainability and environmental sustainability. We foster the creation of local added value in the areas where we set up shop, by generating resources that help local social and economic development and encouraging the growth of the associated industrial fabric. We cooperate in spreading the values of a new energy culture, through initiatives such as the

Sustainability Workshop, in which more than 127,000 schoolchildren and teachers have participated since it was first introduced in 1995. We produce clean energy using methods that we can introduce on a sustainable basis. We seek environmental excellence by blending our facilities into the environment as smoothly as possible and minimising any environmental disturbances. And we help slow down climate change by generating renewable energy.

CO2 emissions reductionsMillion metric tons

11.4

10.6

8.0

6.7

2008 2009 2010 2011

One of the schoolchildren who participatein the ACCIONA Sustainability Workshop in

Oaxaca, Mexico.

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Page 52: ACCIONA Energy (EN)

ACCIONA has committed itself

to a project for future cultural and social

development

52 // 53 ACCIONA AND THE EL GRECO 2014 FOUNDATION

Page 53: ACCIONA Energy (EN)

“El GrACCIONA is an Official Sponsor

eco”of the ‘El Greco 2014’ commemorations

ACCIONA and the Fundación El Greco 2014 [El Greco 2014 Foundation] have signed a colaboration agreement whereby ACCIONA joined the team of Official Sponsors of the programme of events to mark the 4th Centenary of the death of El Greco.

ACCIONA will be contributing to a cultural project designed and organized by the Foundation and scheduled for 2014. This ambitious Toledo-based (Spain) initiative will feature a number of commemorative events on a regional, national end international scale. ACCIONA has taken on a commitment with a long-term cultural and social project at the regional level. In addition, the Company is now the Official Sponsor of a sculpture project that Cristina Iglesias has been comissioned for Toledo.

The commemoration in 2014 of the death of El Greco has been officially declared “an event of

exceptional public interest”. The Fundación El Greco 2014 was set up on May 13th 2010, and the Honorary Chairs are Their Majesties the King and Queen of Spain.

DOMÉNIKOS THEOTOKÓPOULOS (Candia, Crete; 1541 - Toledo, Spain; 1614) El Greco, the painter who brought together the Greek painting tradition, Venetian color, and Roman design, enjoyed a fantastic and ever-changing career as an artist in Crete, Roma and Toledo; in this latter city he spent more than half of his life. In Spain, the so-called “Greek of Toledo” took his place as the country’s most singular artist during the reign of Philip II and Philip III. He amazed spectators with his complex compositions, his bright colors, his interplay of light and dark, transparency and reflections, his naturalistic skill when representing fabrics or cloudscapes, his boundless

imagination when it came to portraying the supernatural, or his ability to breathe life into pictorial fictions. Spain had never seen anything quite like El Greco’s work, and his complex, intellectualized and overwhelming art caused amazement and admiration but also uneasiness and rejection, above all because he eschewed convention and deliberately flaunted his courage and difference. El Greco used his brushes to create a new world of religious imagery and a revolutionary way of treating and displaying both divine and earthly beings, with such tremendous power that, even today, we are quick to recognize the works of the “Greek of Toledo”.

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54 // 55 A GLOBAL LEADER IN RENEWABLE ENERGIES

Avda. Ciudad de la Innovación nº 531621 Sarriguren. Navarra. EspañaTel.: +34 948 00 60 00Fax: +34 948 00 60 01www.acciona-energia.com

Energy

ACCIONA Energía

Avda. de Europa, 6Parque Empresarial La Moraleja28108 Alcobendas (Madrid)Tel.: +34 91 657 64 60 / 61Fax: +34 91 663 07 59

ACCIONA Windpower

Pol. Ind. Barásoain, parcela 231395 Barásoain. Navarra. EspañaTel.: +34 948 72 05 35Fax: +34 948 72 05 31

ACCIONA Solar

Avda. Ciudad de la Innovación, nº 331621 Sarriguren. Navarra. EspañaTel.: +34 948 16 68 00Fax: +34 948 16 68 01

ACCIONA Green Energy Developments

Avda. Europa, nº 10Parque Empresarial La Moraleja28108 Alcobendas. Madrid. EspañaTel.: +34 91 490 38 49Fax: +34 91 490 38 55

ACCIONA Eficiencia Energética

Avda. de Europa, 10. 1ºParque Empresarial La Moraleja28108 Alcobendas (Madrid)Tel.: +34 916 63 22 65Fax.: 91 490 38 55

ACCIONA Energy North America

333 W. Wacker Drive, suite 1500Chicago, IL. 60606 EE.UU.Tel.: +1 312 673 3000Fax: +1 312 673 3001

ACCIONA Windpower North America

601 Fawcett Drive (formerly 300th St. and Sauer Blvd.)West Branch. Iowa 52358 EE.UU.Tel.: +1 319 643 9463Fax: +1 319 643 3584

ACCIONA Wind Energy Canadá

36 Toronto Street, suite 290Toronto. ONT M5C 2 C5Tel.: +1 416 307 3603Fax: +1 416 306 9979

ACCIONA Energía México

Arcos Bosques, Torre IPaseo de Tamarindos, 90, piso 30Col. Bosques de las LomasDelegación CuajimalpaCP 05120, México, D.F.Tel.: +52 55 5291 1111Fax: +52 55 5291 9948

ACCIONA Energy Oceania

Level 1, 95 Coventry St.South Melbourne, Victoria, 3205 AustraliaTel.: +61 3 9863 9922Fax: +61 3 9686 6120

ACCIONA Wind Energy Private (India)

C1-001, Tower C, Ground FloorThe Milenia, No. 1&2, Murphy RoadUlsoor, Bangalore-560 008. IndiaTel.: +91 80 4155 7103Fax: +91 80 4155 7110

ACCIONA Energy Korea

YeonBong bldg. 17th Floor. 890-8 Daechi 4.Kangnam-gu. Seoul. Korea (ZIP)135-839Tel.: +82 2 560 6400Fax: +82 2 522 6419Fax: +82 2 560 6429

ACCIONA Energie Deutschland

Oranienplatz, 210999. BerlinTel.: +49 0 30 / 3199 8860Fax: +49 0 30 / 3199 8862

ACCIONA Eólica Portugal

Av. do Forte, 3 Edifício Suéca IV,1.º Piso A2794-038 Carnaxide, PortugalTel: +351 214 24 18 10Fax: +351 214 24 18 19

Amper Central Solar (Portugal)

Central Fotovoltaica de Amareleja - Apartado 17886-909 Amareleja, Moura, PortugalTeléfono: +351 285 980 010Fax: +351 285 980 019

ACCIONA Eólica CESA Italia

Via Achille Campanile, 73 - II Piano00144 Roma. ItaliaTel.: +39 065 051 4225Fax: +39 065 01 4551

ACCIONA Energiaki (Grecia)

Fragkolisias STR. 715125 Marousi Athens. GreciaTel.: +30 210 68 522 00Fax: +30 210 68 521 80

ACCIONA Energy Poland

Ul Sienna 86, Iok.700-815 Warsaw. PoloniaTel: + 48 22 40 38 195Fax: +48 22 40 38 196

ACCIONA Energía Croacia

Zrinsko- Frankopanska 64/IV21 000 Split, CroaciaTel. + 385 21 340 660Fax. + 385 21 340 661

ACCIONA Energía Chile

Magdalena 140, oficina 50175501104 Las CondesSantiago de ChileTel.: +56 2 7515100Fax: +56 2 7515110

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© JUNE 2012 ACCIONA S. A. All rights reserved.

Page 56: ACCIONA Energy (EN)

Avda. de Europa, 18Parque Empresarial La Moraleja28108 Alcobendas(Madrid). Spain

Twitter: @accionafacebook.com/acciona

www.acciona.com

© JUNE 2012 ACCIONA S.A. All rights reserved.