CORRECTING and REPLACING Iberdrola Renewables Completes Three New Wind Farms

  CORRECTING and REPLACING Iberdrola Renewables Completes Three New Wind Farms

Adds 265 Megawatts in Massachusetts, New Hampshire and California

CORRECTION...by Iberdrola Renewables

Business Wire

PORTLAND, Ore. -- January 22, 2013

Fourth graph, second sentence should read: 50 MW/year (sted 50/MW year).

Iberdrola Renewables' 48-MW Groton (N.H.) Wind Farm reached commercial
operation in December, 2012. ...

Iberdrola Renewables' 48-MW Groton (N.H.) Wind Farm reached commercial
operation in December, 2012. (Photo: Business Wire)

The corrected release reads:

IBERDROLA RENEWABLES COMPLETES THREE NEW WIND FARMS

Adds 265 Megawatts in Massachusetts, New Hampshire and California

Iberdrola Renewables added three new wind farms to its U.S. fleet at the end
of 2012, adding to a portfolio of clean energy projects that now spans 19
states. The farms, which all reached commercial operation in December,
represent a total investment of approximately $700 million, and have most of
the power subscribed under long-term contracts.

“These projects have begun delivering the environmental benefits of clean,
renewable energy, but they also create significant economic impacts resulting
from hiring numerous local workers and companies, and making long-term tax and
lease payments to the local communities,” said Martín Mugíca, president and
CEO of Iberdrola Renewables, LLC. “Each project represents the culmination of
years of hard work, and we could not do it without the vision and support of
our shareholders, customers and employees.”

The Manzana Wind Power Project [photos, fact sheet] in Kern County, Calif., in
the wind-rich Tehachapi area near the town of Rosamond, includes 126 GE 1.5-MW
wind turbines. This project will support the local economy with property tax
payments estimated to be more than $50 million and lease payments expected to
more than $30 million over the life of the project. The property taxes will
support schools, public health, fire, library and other necessary services in
Kern County. During construction, the project created 216 construction jobs at
its peak and resulted in $10.3 million spent locally.

The total project provides 189 MW of clean energy, representing an offset in
carbon emissions comparable to removing more than 21,500 cars off of
California’s roads each year. The majority of the project output is under
long-term contract with two repeat customers, San Diego Gas & Electric
(SDG&E), which is buying 100 MW/year for 20 years, and the City of Santa
Clara’s Silicon Valley Power (SVP), which is buying 50 MW/year for 20 years.

Rising on Crum Hill in Monroe, Mass., and on Bakke Mountain in Florida, Mass.,
the Hoosac Wind Power Project [video, photos, fact sheet] is now the
Commonwealth’s largest wind farm. During construction it employed a peak of
140 workers, with $3.9 million spent locally during building. Over the life of
the project, Hoosac will generate approximately $6.8 million in tax revenue
for the towns, and lease payments to local landowners will total another $3
million.

In total, Hoosac’s 19 GE 1.5-MW turbines generate 28.5 megawatts (MW) of
clean, renewable energy. Altogether, the total project powers over 10,000
homes annually. All of the energy is under contract with NSTAR Electric, a
subsidiary of Northeast Utilities.

The Groton Wind Farm [photos, fact sheet] is situated along two ridge features
in the town of Groton, N.H., in Grafton County. It consists of 24 Gamesa G87,
2.0 MW wind turbines, and is expected to produce, on average, enough
electricity to power nearly 20,000 average New Hampshire homes. It is the
company’s second project in the Granite State, the first being the 24-MW
Lempster Wind Farm, in operation since 2008.

During construction, Groton peaked at 277 workers on-site, 52 percent of whom
were local. Local spending during this project totaled $3.9 million. Annually,
Groton will be paying $528,000 to the town of Groton, with an annual 2.5
percent increase, an amount approximately equal to the town’s annual municipal
budget, $450,000 in state taxes and approximately $275,000 to local
landowners. Like Hoosac, all of the energy is under contract with NSTAR
Electric.

Earlier in 2012, Iberdrola Renewables completed a 46-MW project in
Pennsylvania, a 100-MW project in Iowa and a 304-MW project in Ohio.

Iberdrola Renewables, LLC is the U.S. renewable energy division of parent
company IBERDROLA, S.A., an energy pioneer with the largest renewable asset
base of any company in the world. Iberdrola Renewables, LLC is headquartered
in Portland, Ore., and has over $9 billion of operating assets totaling more
than 5,500 MW of wind and solar generation.

Additional resources:

Hoosac

  *December 3, 2012: Celebrating Massachusetts’ Largest Wind Farm: Gov. Deval
    Patrick, Policymakers Visit Hoosac Wind Power Project

Manzana

  *February 16, 2012: Iberdrola Renewables Announces 100-MW PPA With San
    Diego Gas & Electric
  *February 15, 2012: Iberdrola Renewables Announces 50-MW PPA With City of
    Santa Clara

Photos/Multimedia Gallery Available:
http://www.businesswire.com/multimedia/home/20130122006872/en/

Multimedia
Available:http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50539095&lang=en

Contact:

Iberdrola Renewables
Paul Copleman, 207-641-2805
 
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