Presented by Daniel E. DuBois

1. Presented by Daniel E. DuBois

2. About Us Pioneers in Development and Sustainability • The world’s oldest renewable energy firm • A Spanish-based, multinational corporation • A $9 billion, 100-year-old company publicly traded on the IBEX-35 with a market cap of approx. $17 billion • A leading provider of a wide variety of alternative energy solutions in wind, solar photovoltaic, solar thermal, biomass and bio-fuel energy sources to countries worldwide • Operating in five continents, with a team of more than 35,000 people in over 30 countries • Committed to social well-being and sustainable development in all our activities

3. Our Business Segments • Infrastructure • Building • Civil works • Services • Concessions Agua • Design, construction and commissioning • Operation and maintenance • Integrated water resources management • Real Estate • Residential • Property management ACCIONA • Energy • Wind energy • Mini hydro • Biomass • Solar energy • Biofuels • Wind turbines • Power sales • Logistics & Transport services • Airports • Trasmediterránea • Other logistics services • Urban & Environmental services • Facility management and other urban services • Hospital services • Waste management • Other services

4. Acciona Energy • A world leader in renewable energies • The largest wind-park developer and builder in the world and the third largest owner of wind turbines in the world • Significant R&D investments for new sources of energy such as solar, biomass and mini hydro • We produce and market biofuels from vegetable oils • Production of hydrogen through windpower • International presence: Greece, Morocco, Italy, Ireland, Germany, France, Hungary, USA, Canada, Australia and China, among others

5. Worldwide Energy Projects Wind More than 4357 MW of installed capacity 154 Windparks in 10 Countries Solar Under construction: 24 MW – Photovoltaic and 65 MW in Portugal 64MW – Solar Thermal in Nevada Biofuels 35,000 ton per year - 600,000 tons in development Small Hydro 59 MW Biomass 33 MW - 30% of the primary biomass in Spain Co-generation 139 MW

6. Acciona Energy North America • Significant commitment to grow in the North American market • Investing in and developing our first wind turbine production plant in the U.S. in West Branch, Iowa • Building Nevada Solar One (64MW), the largest solar thermal plant to be built in the U.S. in more than 16 years • Investing in a company in Solena, a Virginia-based company which turns municipal waste into energy • North America offers strong wind resources which are currently under-utilized • We expect a strong demand for clean energy and wind energy to continue

7. Birds, Bats & Wildlife FFA and Radar Transmission PPA vs. Merchant Offshore projects Developer’s perspective

8. Birds, Bats and Wildlife • AUDUBON SOCIETY “STRONGLY SUPPORTS WIND POWER” • In the November-December installment of Audubon magazine, National Audubon Society president John Flicker wrote a column stating that Audubon "strongly supports wind power as a clean alternative energy source," pointing to the link between global warming and the birds and other wildlife that scientist say it will kill. The venerable environmental organization and avian champion is now on record as embracing wind power. • SIERRA CLUB STRONGLY SUPPORTS WIND ENERGY DEVELOPMENT • The Sierra Club strongly supports the development of substantial wind resources for electricity generation. Wind power is a reliable, clean, renewable resource that can help reduce our dependence on polluting fossil fuels (coal, oil, and natural gas) and nuclear power for electricity. • From Sierra Club Conservation Policies.

9. Birds, Bats and Wildlife • Work Plan – meetings with agencies & local experts • Nocturnal marine radar survey – zone of risk • Raptor migration survey, wintering raptors, golden eagle fly zone? • Breeding bird survey – nesting/foraging habitat • Habitat fragmentation assessment (cumulative impacts) Northern Harrier fledglings Short-eared owl

10. Birds, Bats and Wildlife • Nocturnal AnaBat survey –identifies presence/absence of a “call” of species.  If threatened/endangered species are possible, or are identified, then: • Habitat mapping • Mist-netting • Radio-tracking • Maternal roost netting & exit counts • Hot topic:  Migrating bat impacts (red, hoary, silver-haired bats) AnaBat unit Indiana Bat; USFWS photo

11. Birds, Bats and Wildlife • Studies of any threatened/endangered wildlife spp. known to the area. • Rare plant species assessment Eastern Massassauga Rattlesnake Leedy’s roseroot

12. FAA and Radar • FAA • 200 AGL – requires permit • Beyond 5 miles – usually OK • 400’ AGL • Lighting guidelines • Radar issues • British Royal Air Force Study • Clutter & shadowing • Filters – turbines appear to be moving • No wind farms within 40 nm • FAA - No evaluation criteria

13. Transmission issues • Wind resource - often remote from transmission system and load centers • Multiple projects competing for rights for – • Interconnection • Land control • Distance • Equipment selection • Transmission (deliverability) • Curtailment • Required for Capacity (or) • Depressed energy price

14. PPA vs. Merchant • PPA – preference • Willing to accept lower projected return • Pursing merchant wind • No PPAs • Mature competitive market • Mandatory RECs • Synthetic PPA (gas hedge)

15. Involved in offshore projects in mature markets Spain – Trafalgar Project Attractive resource Scale Some impacts lower Higher installed cost Pursing land based development is US Many opportunities available Offshore wind