ENDESA will invest Euro 286 million in new wind farms and mini hydro plants in 2005

NEW YORK, March 11, 2005 (BUSINESS WIRE) — In 2004, ENDESA invested Euro 180 million to bring on stream 205 MW of renewable/CHF capacity in Spain and Portugal. By the end of the year, ENDESA owned 14% of wind farms installed in Spain.

Renewable energies are expected to account for 14% of ENDESA’s generation assets in Spain and Portugal by 2009.

The Company’s goal is to add 2,410 MW of gross renewable energy capacity by 2009, triple the current level, within the framework of its Strategic Plan.
ENDESA has received authorisation to build and start up new wind farms and mini hydro plants this year, requiring an investment of Euro 286 million. The start-up of these projects, part of ENDESA’s Strategic Plan, will add 277 MW to ENDESA’s generation capacity, 252 MW in wind (for a Euro 250 million) and 25 MW in mini hydro capacity (for an investment of around Euro 60 million).

Facilities already under construction and expected to come on stream in 2005 include the wind farms at Pena Ventosa and Chan do Tenon in Galicia, Las Hoyuelas in Castilla La Mancha and P.E. Saso Plan in Aragon, representing an investment of Euro 144 million and overall capacity of 146 MW.

In line with its Strategic Plan, ENDESA aims to bring its gross installed renewable/CHP capacity up to 4,423 MW by 2009, increasing the weighting of this type of power to around 14% of its total output. This will mark a major step forward in the diversification of ENDESA’s generation mix and put the Company on track towards meeting its environmental protection targets. In 2005-2009, some 2,224 MW of wind power, 78 MW mini hydro plants, 102 MW of solid waste and biomass fuelled plants and 39 MW of co-generation capacity are to be built.

ENDESA currently has installed renewable/CHP capacity of 1,974 MW in Spain, representing 6% of its total generation assets. In wind power, the group had capacity of 1,123 MW at the end of 2004, giving it a 14% share of this market in Spain.

In 2004, ENDESA invested a total of Euro 180 million to start up a further 205 MW of new renewable/CHP capacity. This investment brought 11 new wind farms into operation, with total capacity of 202 MW, as well as a 3.5 MW mini hydro plant.

Companies operating in renewable/CHP generation in which ENDESA owns majority stakes generated 1,773 GWh in 2004 In accordance with ENDESA’s percentage stake in all companies operating in renewable/CHP generation, the group generated 2,817 GWh in 2004, 14% more than it supplied to the grid in 2003. Of this amount, 1,989 GWh came from renewable plants and the remainder from co-generation and waste treatment plants.

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