ANNUAL R EPORT 2 009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 annual report 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 contents

04. 08. 1 2. 14. key letter from mission, vision 2009 figures the chairman & values milestones

18. 20. 3 0. 1 10. organizational chart International ACCIONA in 2009 Innovation

ACCIONA Infrastructure ACCIONA Energy ACCIONA Agua ACCIONA Real Estate ACCIONA Logistics & Transport Services ACCIONA Urban & Environmental Services Other Businesses: Bestinver, Hijos de Antonio Barceló & GPD WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997

key FIGURES Acciona Annual Report 2009 // 4 key FIGURES Acciona Annual Report 2009 // 5

APPRECIATION OF DIVIDEND PAYMENTS DIVIDEND PAYMENTS (million euros)

40% 231.9

30%

191.3* 185.6 20% 183.7

10% 147.4

0% 1-09 2-09 3-09 4-09 5-09 6-09 7-09 8-09 9-09 10-09 11-09 12-09

-10%

-20%

ACCIONA 2005 2006 2007 2008 2009 IBEX 35 -30% * Pending approval by the 2010 General Shareholders’ Meeting

stock market data JANUARY-DECEMBER 2008 JANUARY-DECEMBER 2009 Initial price 216.85 89.00

Final price at 31 December 89.00 91.10

Appreciation -58.96% 2.40%

Minimum price 55.45 83.1

Maximum price 216.85 98.4

Market capitalization at 31/12/09 (€m) 5,656 5,789 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 key FIGURES Acciona Annual Report 2009 // 4 key FIGURES Acciona Annual Report 2009 // 5

SALEs 2008 2009 change EBITDA 2008 2009 change EBT 2008 2009 change (million euros) (%) 09/08 (million euros) (%) 09/08 (million euros) (%) 09/08 Infrastructure 3,592 3,613 0.6 Infrastructure 243 209 -13.8 Infrastructure 155 128 -17.4 Real Estate 320 268 -16.3 Real Estate 85 43 -49.2 Real Estate -129 -14 n.a. Energy 1,784 1,248 -30.0 Energy 589 629 6.8 Energy 187 97 -48.1 Logistics & Transport 914 811 -11.3 Logistics & Transport 39 86 119.2 Logistics & Transport -56 21 n.a. Services Services Services Urban & Environmental 772 732 -5.3 Urban & Environmental 70 60 -15.0 Urban & 26 24 -6.8 Services Services Environmental Services Other Businesses & 140 110 -21.1 Other Businesses & 49 33 -33.5 Other Businesses & 69 73 5.9 Financials Financials Financials Consolidation -314 -269 -14.4 Consolidation -7 -18 158.2 Consolidation -10 -15 53.1 adjustments adjustments adjustments Sales 7,208 6,512 -9.6 EBITDA 1,069 1,043 -2.5 ORDINARY EBT 353 314 -11.1 Extraordinaries -23 -99 339.2 EBT 331 215 -35.0

SAlES (million euros) GROSS OPERATING PROFIT (EBITDA) EARNINGS BEFORE TAX (EBT) (million euros) (million euros)

2,827 774 12,665 713

657

7,953 493

6,512 6,272 342 1,407 4,853 259 3,865 4,046 219 215 3,415 194 3,026 960 1,043 161 2,873 743 569 411 288 288 244

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997

key FIGURES Acciona Annual Report 2009 // 6 key FIGURES Acciona Annual Report 2009 // 7

Earnings per share leapt from 7.3 euros in 2008 to 19.9 euros in 2009, an increase of 272.6%

EARNINGS PER ShARE (euros) DIVIDEND PER ShARE (euros) CAPITAl RESOURCES PER ShARE (euros) Pay-out (%) roe (%) Rate of return on dividend* (%)

9.8% 76.0 47.8% 3.65 47.0% 73.8% 72.9 45.5% 69.1 40.0% 30.6 3.01 2.89 2.92

50.3 33.3% 6.5% 2.32 31.8% 43.0 21.6 41.5 5.2% 1.67 24.4% 4.8% 15 4.6% 1.38 4.2% 19.9 90.6 3.9% 4.0% 1.20 29.6% 3.3% 7.3 0.70 12.2 13.4% 15.1% 20.6% 20.5% 21.9% 3.3% 5.1 0.61 11.7 10.7 19.7% 15.4% 2.5 3.6 1.8 2.2 10.1% 10.6% 4.5% 8.1%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Dividend per share/Capital resources per share WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997

key FIGURES Acciona Annual Report 2009 // 6 key FFiGUReSIGURES AccionAccionAa Annual Report 2009 // 7

Earnings per share leapt from 7.3 euros in 2008 to 19.9 euros in 2009, an increase of 272.6%

EARNINGS PER SHARE (euros) Dividend pER SHARE (euros) CAPITAL RESOURCES PER SHARE (euros) PAY-OUT (%) ROE (%) RATE OF RETURN ON DIVIDEND* (%)

9.8% 76.0 47.8% 3.65 47.0% 73.8% 72.9 45.5% 69.1 40.0% 30.6 3.01 2.89 2.92

50.3 33.3% 6.5% 2.32 31.8% 43.0 21.6 41.5 5.2% 1.67 24.4% 4.8% 15 4.6% 1.38 4.2% 19.9 90.6 3.9% 4.0% 1.20 29.6% 3.3% 7.3 0.70 12.2 13.4% 15.1% 20.6% 20.5% 21.9% 3.3% 5.1 0.61 11.7 10.7 19.7% 15.4% 2.5 3.6 1.8 2.2 10.1% 10.6% 4.5% 8.1%

2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 *Dividend per share/Capital resources per share WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN Acciona Annual Report 2009 // 8

letter from the chairman

JOSÉ MANUEL ENTRECANALES chairman & CEO of acciona

Dear Friends,

Fiscal Year 2009 was marked by the severe 10,000 direct jobs. We trust that, in spite creation, installation of alternative energy impact of the global financial and economic of the current economic difficulties, the sources and the guarantee of the availability downturn, giving rise to a highly complex obvious need to overcome the significant of and access to water. situation without precedent in the last decades. social, economic and global environmental Despite this difficult context, ACCIONA imbalances will continue to validate our As with our lines of business, our achieved some solid results in this fiscal year business model in the years ahead. management practices are consistent with and is ready to meet the challenges that lie such a strategic approach. In 2009, the ahead armed with a consolidated business Our Company’s business model is none other Environmental Efficiency Plan led to a 12%

model and great potential for growth. than that of advancing the progress of the reduction in our CO2 emissions compared to communities in which we operate towards 2008, and our products and services avoided In the last five years, ACCIONA has doubled balanced and sustainable development. net atmospheric emission of 7.6 million

its operating income and its infrastructure ACCIONA delivers products and services metric tons of CO2, 36% more than in the portfolio, has increased fivefold installed that help to overcome some of the most previous fiscal year. wind power capacity - becoming the significant challenges facing the most third largest renewable energy operator prosperous and advanced economies and This unbending commitment has been in the world - and has created more than developing ones alike, namely: infrastructure acknowledged for the third year in a row by WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN Acciona Annual Report 2009 // 9

‘We have strengthened our business model, positioning ourselves as the third largest renewable energies operator in the world’

the Dow Jones Sustainability Index through complements our Energy division and valued EBITDA came to 629 million euros, 60% its designation of ACCIONA as Sector Leader at 2,844 million euros, reducing our net debt of the Group total, a 7% increase over in terms of sustainability. position of 17,897 million euros as at end- the previous fiscal year. In 2009, installed 2008 to 7,265 million euros as at the close capacity increased by 2,566 MW, of which With regard to our key performance indicators, of 2009. The transaction also allowed us to 488 MW was developed organically and consolidated earnings came to more than enhance our business model, and we now 2,078 MW was acquired from Endesa, 6.5 billion euros, and gross operating profit was rank as the world’s third largest renewable bringing the total installed capacity as at just over 1.04 billion, 2% less than in 2008. energy operator. the close of the fiscal year to 7,437 MW, 53% greater than 2008. In 2009, faced with growing instability in the Regarding the contribution of the main financial system, together with rising prices Group divisions, ACCIONA Energy, in spite of ACCIONA Infrastructure’s project pipeline and limited access to credit, we reached an the steep decline in energy prices, essentially stood at 7,021 million euros, equal to agreement with Enel and Endesa pursuant to resulting from decreased demand and the two years of activity, resulting from the which we exercised our put option early. We temporary collapse in combustible fossil international diversification strategy, which sold for 11,188 million euros, simultaneously fuel prices, was the largest contributor to represents 26% of the entire portfolio, acquiring a portfolio of renewable assets that the Group’s operating income. The division’s principally in Poland, Canada, Brazil and Chile.>> WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN Acciona Annual Report 2009 // 10

‘Our business model and its competitive advantages depend upon our capacity to innovate and anticipate the challenges which will arise’

>> In the last fiscal year, ACCIONA Agua made structure, exemplified by a cash flow position Our objectives, however, are not restricted earnings of 438 million euros, a 19% rise exceeding 1,300 million euros. to the financial aspects of ACCIONA’s on 2008, and its project pipeline (portfolio) activity. Where the environment is was in excess of 4,300 million euros, up Last March, we presented the 2010-2013 concerned, the Plan contemplates doubling 21% on the previous year’s figure. Strategic Plan with several ambitious but the amount of net emissions avoided. realistic goals, and always with financial This goal would entail contributing more In 2009, ACCIONA made investments caution. In spite of the difficult operating than 11% to the national emissions totalling 4,221 million euros, 2,844 million environment, ACCIONA is not relinquishing reduction target, and 3% to the European resulting from the acquisition of renewable growth and, notwithstanding considerable Union target for that same year. In the field assets from Endesa and 1,377 million being investment effort, we hope to continue of social responsibility, we shall integrate organic investments by ACCIONA, 78% of reducing our leverage and substantially the criteria and sustainability goals relating which was earmarked for the Energy division. increase earnings. Furthermore, during this to flexible compensation of the Group’s Net financial debt stood at 7,265 million period, we aim to step up the Company’s management, and we aim to increase euros, of which 5,500 is accounted for by globalization process, continuing with the the integration of disabled personnel to the Energy division. The Group ended the implementation of all our activities in our as much as 3% of the overall workforce fiscal year with a solid financial and liquidity strategic countries. by 2013. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 LETTER FROM THE CHAIRMAN Acciona Annual Report 2009 // 11

Our Company’s model, and the report published by the European Company’s model and corporate strategy. competitive advantages thereof, depend Union. We are positioned, globally, to meet upon our ability to innovate and stay the key challenges and social demands well ahead of environmental challenges. Within the framework of our prudent of today and tomorrow; this leaves us Accordingly, in 2009, we set aside a total financial policy, we propose to the General ideally placed to emerge from the current of 92 million euros for R&D and Innovation Shareholders Meeting the distribution of a downturn strengthened and to profit from (30% more than in 2008), the equivalent dividend of 3.01 euros/share, 65% of the opportunities for growth. of 9% of EBITDA for the fiscal year. This ordinary net earnings per share, equivalent investment has resulted in 109 projects to a dividend yield of 3.3% over the closing With your continued support and the and in 52 patent applications. Thanks price for the year and an increase of 3% on unbending commitment of our professionals, to this effort, ACCIONA is the leader in the dividend distributed last year. management team and the Board of innovation intensity (investment in R&D Directors, ACCIONA will continue along the and Innovation over EBITDA) among Ladies and Gentlemen Shareholders, path of profitable growth and value creation, European electric power and infrastructure in the current environment of extreme unswerving in its efforts to contribute to companies according to the “R&D complexity, I want more than ever to a balanced development model that will Industrial Investment Scoreboard 2009” assure you of my confidence in our benefit future generations. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 mission,vision & values WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Mission,Vision & Values Acciona Annual Report 2009 // 13

Our mission is to be a leader in the creation, development Our Values and management of

infrastructure, energy Honesty: long-term view: and water; contributing We want transparency, dialogue Our pledge to sustainability reflects actively to social well-being, and participation to be the our search for solutions and hallmark of our activities. business models for the future. sustainable development Leadership: financial strength: and the creation of value We believe that innovation and We guarantee profitability and for our stakeholder groups. foresight will allow us to be pioneers reliability, not only for our shareholders and leaders in future trends in all but also for society in general. aspects of our business activity. customer focus: excellence: Our customers’ satisfaction is one ACCIONA aims to set the benchmark of the fundamental principles of in the markets where it operates. our commitment to excellence. environmental concern: Innovation: Our vision is to meet the In 2009, ACCIONA avoided emitting a net Innovation is one of ACCIONA’s 7.58 million metric tons of CO into the strategic pillars. challenge of achieving 2 atmosphere, 35% more than in 2008. care for people: sustainable development in all social responsibility: Our system is based on integration and equal our business areas, so that the ACCIONA’s commitment to sustainable opportunities. We create a work environment generations of today and the development is reflected in its that promotes professional development position as leader in its sector in the and respect for our employees’ personal future will have a better life. Dow Jones Sustainability Index. lives, as well as their health and safety. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 2009 milestones WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Milestones Acciona Annual Report 2009 // 15

JANUARY Mitsubishi Corporation partnered with company with a website certified to ACCIONA Agua decides to double ACCIONA invested 550 million ACCIONA by acquiring a 34% stake in accessibility standards by AENOR. the capacity of the desalination euros in a wind farm in Mexico, the largest PV solar plant in the world. plant in Adelaide, Australia. the largest in Latin America. ACCIONA started up the biodiesel plant MAY ACCIONA inaugurated a 123 ACCIONA launched its Environmental in the Port of Bilbao (Spain); the facility, ACCIONA’s net profit in the first quarter MW wind farm in Oklahoma. Efficiency Plan, which aims to improve which cost 25 million euros, has a production amounted to 149 million euros. ACCIONA Agua obtained four new water energy and water consumption capacity of 200,000 metric tons. ACCIONA Agua was awarded a 120 management contracts in Spain worth efficiency ratios by 10%, optimize waste ACCIONA obtained new contracts in Sardinia million euro contract in Andratx (Majorca). 21.2 million euros, through which it will management, and integrate environmental (Italy) to operate 16 drinking water plants, 30 ACCIONA Trasmediterranea and serve more than 1.5 million people. initiatives into all business lines. wastewater treatment plants and 58 pumping the Port of Barcelona presented a ACCIONA completed construction of ACCIONA Real Estate obtained stations. It will also maintain the water service new 150,000 m2 ferry terminal. the first wind farm built by a Spanish AENOR certification for its quality and and new sewer mains in the capital, Cagliari. ACCIONA unveiled the final section of the company in South Korea. The 61.5 MW environmental management systems. A-44 highway between Granada and Motril. Yeong Yang wind farm comprises 41 1,500 ACCIONA executives APRIL ACCIONA signed a cooperation agreement ACCIONA Windpower 1.5 MW turbines received sustainability training. ACCIONA obtained the European Business with the Patrimonio Natural Foundation and was registered with the UN as a Award for Corporate Responsibility. to develop environmental protection and Clean Development Mechanism (CDM). FEBRUARY The Beckton desalination plant in management programmes in the Castile ACCIONA sold its 25% stake in London, built by ACCIONA Agua, won and León region. The seven-year agreement JULY Spanish utility Endesa to Enel. the Global Water Intelligence (GWI) has a total budget of five million euros. ACCIONA and Mitsubishi Corporation signed ACCIONA obtained its first Most Sustainable Project Award. a global strategic alliance on sustainability, desalination contract in Australia. ACCIONA Agua started operating in Brazil, JUNE the goal of which is to lead the worldwide having obtained a 25-million-euro contract to ACCIONA exercised its put option for an development of renewable energies. MARCH provide technical assistance and maintenance early exit from Endesa and the purchase ACCIONA inaugurated its first solar thermal ACCIONA commenced construction services for a wastewater treatment plant of the utility’s renewable energy assets, (CSP) plant in Spain, in Extremadura. of its third solar thermal plant (CSP) in in Arrudas (State of Minas Gerais). obtaining 2,080 MW in installed capacity ACCIONA will build and manage Fort St. Spain, valued at 237 million euros. ACCIONA was the first IBEX 35 and assets valued at nearly 2.85 billion euros. John Hospital in Canada for 170 million euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Milestones Acciona Annual Report 2009 // 16 Milestones Acciona Annual Report 2009 // 17

In October, ACCIONA The Board of Directors of ACCIONA ave the ACCIONA began operating its largest R&D Investment Scoreboard. begun operation of its green light to the creation of a Sustainability wind farm in Australia, in the state of ACCIONA completed assembly of the largest wind farm in Committee to guide and supervize the Victoria; it has an installed capacity of largest wind farm in Latin America, in Company’s corporate responsibility policy 192 MW and investment totalled 270 Mexico. The 250.5 MW Eurus facility is Australia (192 MW) based on its commitment to sustainability. million euros. It comprises 128 ACCIONA the largest wind farm built to date by Windpower turbines, capable of meeting ACCIONA Energy in terms of capacity. AUGUST electricity needs of 140,000 families. ACCIONA signed equality plans in ACCIONA wins contract to build The US Army chose ACCIONA for its the Infrastructure and Real Estate three hospitals and an outpatient largest renewable energy project, which divisions with the two leading clinic in Mexico (30 million euros). includes the installation of a 500 MW labour unions, UGT and CCOO. solar ‘garden’ at Fort Irwin (California), the ACCIONA Installations obtained SEPTEMBER nation’s largest training camp and home environmental management and workplace ACCIONA was a leader in the Dow Jones to a NASA communications centre. health and safety certification. Sustainability Index for the third year in a row. ACCIONA Agua is to build a drinking water ACCIONA was awarded the contract ACCIONA inaugurated EcoGrove wind plant and multiple aqueducts in Peravia (worth 32 million euros) to build farm in Illinois, USA (100.5 MW). province in the Dominican Republic. its sixth hospital in Mexico. ACCIONA to build a world-class circuit for automobile testing; the 50.5 million euro NOVEMBER DECEMBER project will be completed in 20 months. ACCIONA turned traditional ACCIONA participated in the advertising on its head with a unique Copenhagen Summit with proposals OCTOBER strategy and format, encouraging to combat climate change in areas José Manuel Entrecanales became the first society to ‘RE-act’ (re-acciona-r). that directly affect civil society. Spaniard to be appointed to the Executive ACCIONA was ranked sixth in Spain in ACCIONA ranked as the top B2B brand in Committee of the World Business Council terms of R&D and Innovation spending, the ‘Best Spanish Brands in 2009’ list, which is for Sustainable Development (WBCSD). according to the 2009 EU Industrial compiled by Interbrand every two years. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Milestones Acciona Annual Report 2009 // 16 Milestones Acciona Annual Report 2009 // 17

ACCIONA Agua was

awarded the contract The list highlights the top 30 Spanish for the world’s largest brands from among Spain’s 5,000 Events after the year end wastewater treatment largest companies in the financial services, fashion and food sectors. plant, in Mexico ACCIONA obtained a pre-assignment of 1,100 MW of renewable capacity in Spain, i.e. 12% of the total pre-assigned by the Ministry ACCIONA will build a new plant in Madrid ACCIONA is leading a consortium of 17 European of Industry. The Company’s five solar thermal which will treat 155,000 metric tons of sludge entities in researching different marine energies. projects (250 MW in total) are registered. and generate up to 158,000 MWh per year. ACCIONA presented its 2010-2013 Strategic Plan, ACCIONA Agua, in consortium, was ACCIONA presented its comprehensive which it considers to be both realistic and prudent, awarded the contract for the largest product and services portfolio at the World backed by a robust financial structure. The Company’s wastewater treatment plant in the world, Future Energy Summit in Abu Dhabi. goal is significant growth in the period. According to in Mexico. The plant will cost almost ACCIONA registered the first US wind farm its projections, ACCIONA will obtain annual growth of 500 million euros and will treat the under the Voluntary Carbon Standard (VCS) 14% in revenues, 22% in operating profit, and 45% waste water of 10.5 million people. programme with a view to selling voluntary in EBT. The Plan includes 6.5 billion euros in capital His Majesty, the King of Spain, inaugurated offset credits. PricewaterhouseCoopers and expenditure. Leverage will be reduced by 40% and the monument designed by Santiago Sustainable Asset Management (SAM) recognized decline from 6.4 x EBITDA in 2009 to 3.8 times in 2013. Calatrava and built by ACCIONA to ACCIONA as a global leader in sustainability, ACCIONA launched its new Employee Channel commemorate Caja Madrid’s tricentenary. rating it a Gold Class Sector Leader. and increased its presence in social networks. ACCIONA is participating in four new ACCIONA increased its wind capacity in ACCIONA was awarded three new wind farms in Mexico CENIT projects with a budget of more than Spain by 49% in 2009, to 4,000 MW. (305 MW), with a budget of over 450 million euros. 23 million euros. The Company is already ACCIONA Agua obtained its first contract in Andorra ACCIONA and the Renault-Nissan Alliance are to involved in 12 projects aimed at increasing to operate and maintain wastewater treatment plants. join forces to promote electric vehicles in Spain. R&D and Innovation expenditure in Spain. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 organizational chart WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona Annual Report 2009 organization chart // 19

Chairman & CEO Jo s é Ma n u e l Entrecanales * Vice-Chairman Ju a n Ig n a c i o Entrecanales *

Chief of Staff Macarena Carrión* (ED)

Chief Financial Officer General Counsel Juan Gallardo* (SED) Jorge Vega-Penichet* (SED)

Head of International Frank Gelardin* (SED) Chief Investor Relations & Corp. Development Officer Juan Muro-Lara* (SED) Chief Communications Officer Pío Cabanillas* (SED)

Chief Innovation & Chief Corporate Sustainability Officer Resources Officer Joaquín Mollinedo* (SED) Alfonso Callejo* (SED)

Energy Infrastructure Water & Environment Carmen Becerril* (President) Pedro Martínez* (President) Luís Castilla* (President) Rafael Mateo* (SED)

Real Estate Trasmediterranea Other Business Isabel Antúnez (ED) Antonio Grávalos (ED) Ricardo Molina (ED)

* Member of the Executive Committee SED: Senior Executive Director ED: Executive Director Updated to May 2010 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 20 international Acciona Annual Report 2009 // 21

International

In 2009, governments began to earmark All four are set to generate new business sizeable funds for developing “green” opportunities for ACCIONA, which is the projects. Most of this investment was ideal partner for governments seeking to aimed at programmes linked to sustainable reduce carbon emissions, mitigate the effects transport, energy efficiency, intelligent of climate change and design low-carbon ACCIONA contributes networks and renewable energy. This growth strategies. its technology was an ideal scenario for ACCIONA to contribute its technology and experience ACCIONA’s leadership in these areas has and know-how to in these businesses, as demand for been a magnet for policymakers worldwide. implement sustainable sustainable solutions for economic In 2009 and early 2010, ACCIONA business worldwide development increased worldwide. By welcomed government delegations from tapping these business opportunities, Australia, Colombia, India, Italy, Japan and ACCIONA boosted its global activity in the US, among others. Politicians and 2009. lawmakers visited some of ACCIONA’s most emblematic projects in Spain, in the fields The US Recovery and Reinvestment Act, of renewable energy, infrastructure and the Economic Action Plan in Canada, water, and gleaned first-hand knowledge Australia’s ‘Solar Flagships’ Program and of ACCIONA’s experience and authority in the National Solar Mission in India were sustainable solutions. the main sustainable investment initiatives launched in 2009. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 20 international Acciona Annual Report 2009 // 21

ACCIONA’s presence around the world

STRATEGIC MARKETS OTHER COUNTRIES IN WHICH ACCIONA OPERATES WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 22 international Acciona Annual Report 2009 // 23

In 2009, ACCIONA’s international All ACCIONA’s priority markets hold and to advise ACCIONA in designing its operations generated revenues totalling investment grade ratings from S&P, have international strategy. 1.6 billion euros, 24% of the Group’s total a stable legal and political framework revenues, and contributed 22% of the and welcome foreign investment. Above Another priority was to target and establish Company’s EBITDA. all, these countries have a clear need for alliances with companies that share ACCIONA’s vast experience in sustainable ACCIONA’s commitment to sustainable ACCIONA has prioritized countries where infrastructure, clean energy, water development. In July 2009, ACCIONA and it has a long-standing presence, such as management and desalination. Mitsubishi Corporation signed a strategic Mexico, Brazil, Chile, Colombia, Poland alliance which envisages the search for and Italy; and also those where it is swiftly One of ACCIONA’s main objectives in 2009 international business opportunities in growing its business, such as Australia, was to consolidate and integrate its main renewable energy, water management, Canada and the US, and new markets such capabilities - infrastructure, water and sustainable construction and transport. As a as India and the United Arab Emirates. renewable energy - in its key international first step in this alliance, Mitsubishi acquired markets. For this purpose, it appointed a 34% stake in ACCIONA’s state-of-the- Overall, ACCIONA’s priority markets Country Managers to develop business art solar photovoltaic plant at Amareleja, account for more than 40% of global opportunities, explore an integrated range of Portugal. GDP and more than 30% of the world’s infrastructure, water and energy services and population, with a balance between solutions, and establish relations with clients. emerging nations, where growth is In some countries and regions, ACCIONA also accelerating, and developed economies, appointed Advisory Directors to strengthen where standards of living are high. relations with governments and institutions WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 22 international Acciona Annual Report 2009 // 23

ACCIONA’s main actions in international In October 2009, ACCIONA Energy Brazil markets in 2009 were as follows: completed commissioning of its 192 MW ACCIONA has been operating in Brazil for wind farm in Waubra, in the state of Victoria. several years in the property, concessions Australia Equipped with 128 wind turbine generators and construction sectors. In March 2009 In February 2009, the ACCIONA-led designed and built by ACCIONA Windpower, it broadened its range of activities in the AdelaideAqua consortium won a 20-year this is the biggest wind farm in the southern country by securing its first water contract. concession to design, build, operate and hemisphere. Completion of Waubra increased The 25 million euro deal entails providing maintain a desalination plant at Port Stanvac, ACCIONA’s total installed capacity in technical assistance for the operation near Adelaide. In June, the government of Australia to 258 MW. The Company is and maintenance (O&M) of a water South Australia awarded AdelaideAqua a currently building its third wind farm close treatment plant in the state of Minas Gerais contract to double the facility’s capacity to Gunning, in New South Wales, and has with capacity to supply a population of to 300,000 m3 per day, enough to provide renewables projects that come to a total of 1,600,000. drinking water to 500,000 people, half of the 2,000 MW in Australia. population of Adelaide. This capacity boost at In construction and concessions, building the plant, which implies increasing the total ACCIONA Infrastructure opened an office continued on a 200.4 km section of the investment to one billion euros, will make in Melbourne in November 2009. It is BR 393 interstate highway, which is one of Port Stanvac one of the biggest desal projects actively seeking business opportunities in the main routes linking the states of Rio de in the world in terms of production capacity. both construction and concessions. Along Janeiro and Minas Gerais. ACCIONA has a It is expected to be working at full capacity by with several local partners, it has been 25-year concession to operate this section December 2011. prequalified for the AUD1.7bn Northern Link of the highway. tunnel project in Brisbane and the AUD1bn Parkville Comprehensive Cancer Centre in Melbourne. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 24 international Acciona Annual Report 2009 // 25

In 2009, ACCIONA Real Estate obtained With this contract, ACCIONA is now building permits to begin construction on two two hospitals in British Columbia. The ISL residential buildings, comprising 60 and Health consortium, to which ACCIONA 44 apartments, respectively, in the city belongs, is the province’s largest operator of Guarujá on the coast of Sâo Paulo. of PPP (public-private partnership) projects. ACCIONA won a ACCIONA Real Estate has 1,900 homes In 2008, ACCIONA Infrastructure obtained under development, including the two a 30-year concession for the 500-bed Royal contract worth aforementioned projects, in the states of Rio Jubilee Hospital in Victoria (35,000 m2). de Janeiro, Sâo Paulo and Minas Gerais. 270 million Since 2008, ACCIONA has been building the Canadian dollars Canada A-30 highway in metropolitan Montreal, In July 2009, ACCIONA Infrastructure won a with an investment of CAD1.57billion. to build and manage CAD270 million project to build and manage It will operate the road under a 35-year a hospital in British a 55-bed hospital in Fort St. John, British concession. This is Canada’s largest PPP Columbia Columbia. The project, which includes a project. 123-bed geriatric annex, covers design and construction, and includes a 30-year O&M ACCIONA operates three wind farms in Canada concession. with a total installed capacity of 136 MW. Its project pipeline in the renewables sector totals more than 1,000 MW. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 24 international Acciona Annual Report 2009 // 25

ACCIONA became the first Spanish company to operate wind farms in India Chile The two facilities, located in Karnataka state supplies water to around 2.5 million people. ACCIONA is building the new Route 160 toll in the south of India, were approved by ACCIONA Agua has completed construction road linking the towns of Coronel and Tres the United Nations as Clean Development of a drinking water treatment plant, one of Pinos. This 38-year concession is ACCIONA’s Mechanism (CDM) projects within the the biggest and most modern in Europe, in third in Chile. framework of the Kyoto Protocol. This Pedra Maiore (Sassari), in Sardinia. will enable ACCIONA to obtain Emission ACCIONA Windpower is currently supplying Reduction Credits (ERCs) with which to trade It also built the first drinking water wind turbines for a 60 MW wind farm in the emissions rights market. desalination plant in Italy, in Reggio in Canela. ACCIONA Energy has various Calabria, which is currently being expanded. projects underway and it is weighing up At the end of 2009, ACCIONA had two wind possibilities in the solar energy sector. farms at an advanced stage of development ACCIONA Energy has two wind farms in Italy totalling 116 MW and a project pipeline of —the seventh-largest wind power market in ACCIONA Agua has built four wastewater more than 1,700 MW. the world — in the regions of Abruzzo and treatment plants (WWTPs) in Chile and is Calabria, with a combined capacity of 71 studying an opportunity to supply water to Italy MW. The Company is currently building two mining areas in northern Chile. ACCIONA Agua signed two contracts wind farms in Sicily and Calabria, with a total in Sardinia in March 2009 to start capacity of 20.4 MW. India operating 16 new drinking water plants, In 2007, ACCIONA became the first Spanish 30 WWTPs and 58 pumping stations, as company to build and operate a wind farm well as conducting maintenance of the in India. In November 2009, ACCIONA new installations and sewer mains in the secured long-term financing deals for its regional capital, Cagliari. two operating wind farms, which together have an installed capacity of 29.7 MW. These deals have enhanced ACCIONA This was the biggest non-recourse project Agua’s presence in Italy, which is finance deal ever arranged in the Indian concentrated mainly in Sardinia, Sicily wind power sector. and Calabria. The Company manages and WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 26 international Acciona Annual Report 2009 // 27

Mexico first hospital in Mexico to use the concession ACCIONA finished building the 250 MW system; ACCIONA will be in charge of all Eurus wind farm in Oaxaca state. It covers a non-medical services for a 25-year period. quarter of the electricity needs of Cemex in Mexico. Eurus, which cost 550 million dollars ACCIONA also built the new campus of to construct, is the biggest wind farm in San Luis de Potosí University, the first such Latin America and the largest ACCIONA has institution in Latin America to be run under a ever built. It is also currently the Company’s concession system. In 2009, second UN-approved emissions-reduction ACCIONA finished project under the Kyoto Protocol. In 2009, ACCIONA Real Estate completed construction of two luxury developments building the Eurus wind In 2009, ACCIONA Infrastructure won a in Mexico City and Acapulco, and had sold farm, the biggest in new contract to build a 236-bed hospital 66 units by year-end. ACCIONA Real Estate Latin America in Metepec, near Mexico City. This is plans to begin Phase Two of the Acapulco ACCIONA’s sixth healthcare project in project in the first half of 2010, once again Mexico. There are four projects in the proving its status as the benchmark real pipeline for Mexico’s National Health estate developer in the region. Service: three rural hospitals and one In December 2009, ACCIONA Agua health center. All of them are being built obtained a contract to build the world’s in line with the most stringent standards of largest water treatment plant in Atotonilco, sustainability - in design, construction and Hidalgo state, to supply a large part of the maintenance - taking into account factors population of Mexico City. ACCIONA will such as location, construction regulations take part in building and later in operating and energy efficiency. and maintaining this mammoth project for 25 years. The 500-million-euro project ACCIONA currently manages the 184-bed is spearheaded by a consortium also Bajío hospital in the state of León. It was the comprising Mexican and US companies. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 26 international Acciona Annual Report 2009 // 27

ACCIONA Poland In December 2009, ACCIONA Real Estate Real Estate built ACCIONA has been present in the completed two developments in Warsaw, construction sector in Poland since 1999 Iskra and Lesne, comprising 144 eco-efficient through Mostostal Warszawa, one of the apartments and 109 eco-efficient homes, 144 country’s premier construction groups. The respectively. Both projects used natural eco-efficient apartments company specializes in civil engineering and materials and implemented efficient water in Warsaw, using building works, environmental projects and and heating systems to provide considerable natural materials industrial facilities. Work currently under way savings in both areas. includes: a 15 km section of the DK8 Breslau ring road, a new suspension bridge over the In all, ACCIONA Real Estate has four projects River Odra, with the highest pylon in Poland in Poland. ACCIONA has been present in the (122 m), and the upgrading of the central local property market since 2005, when it wastewater treatment plant in Warsaw, acquired Mostostal Invest, a company that serving one million people. is now operating under the name ACCIONA Nieruchomosci. Some of the main contracts awarded in 2009 are as follows: a section of the A-2 highway, the National Auditorium in Breslau, new buildings for the universities of Katowice and Torun, a concert hall and headquarters for the Philharmonic Orchestra of Olsztyn, and an Olympic-sized indoor swimming pool, also in Olsztyn. In 2009, Mostostal Warszawa increased turnover by 20% and EBT by more than 40%, year-on-year. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 28 international Acciona Annual Report 2009 // 29

USA Dakota), Velva (11.8 MW, in North Dakota) Phase I of this project will include installing In 2009, ACCIONA opened two wind farms and EcoGrove (100.5 MW, in Illinois). 500 MW of solar thermal and solar PV plants in the United States: Red Hills (123 MW) The Company also holds a stake in the and will require an investment of two billion in Oklahoma and EcoGrove (100.5 MW) in Blue Canyon wind farm (74.25 MW) in dollars. Fort Irwin is the US Army’s biggest Illinois. Both facilities use ACCIONA wind Oklahoma. training camp. It also houses NASA’s Goldstone turbine generators built at the Company’s Deep Space Communications Center. plant in West Branch, Iowa. In solar power, ACCIONA built and operates one of the world’s largest solar thermal ACCIONA is expanding its sphere of action These two farms raised ACCIONA’s total plants, the 64 MW Nevada Solar One plant. to include solar and wind projects in all wind power capacity in the US to 490 MW, stages of development in more than of which 416 MW are attributable to the After a tough competitive tender process, 20 states. Company. the US Army Corps of Engineers chose ACCIONA and Clark Energy Group to ACCIONA currently operates four wholly- develop a large-scale solar energy project owned wind farms in the US. They are the at Fort Irwin, in the Mojave Desert Red Hills plant (123 MW, in Oklahoma), (California). Tatanka (180 MW, in North and South WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 international Acciona Annual Report 2009 // 28 international Acciona Annual Report 2009 // 29

ACCIONA owns one of the largest solar PV plants in the world, with

Other countries In the UK, the Beckton desalination plant, In 2009, ACCIONA completed its first wind which ACCIONA Agua is building on the 45.8 MW of farm in South Korea, a 61 MW facility that outskirts of London, won Global Water installed capacity, has been recognized by the UN as a CDM Intelligence magazine’s award for the Most located in Portugal project. Sustainable Project of the Year. This is the third year running that GWI has awarded one ACCIONA also acquired 94 MW-worth of of its prestigious prizes to ACCIONA. wind power assets in Portugal under the agreement to sell its Endesa stake to Enel. ACCIONA Agua secured its first project in the Dominican Republic in October 2009, ACCIONA also owns and operates one of when it was chosen to build a drinking the largest grid-connected solar photovoltaic water plant which will initially supply (PV) plants in the world: the 45.8 MW 138,000 people, and could be extended for Amareleja facility. 300,000 people at a later date. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 30

ACCIONA Infrastructure The highest standards of excellence, versatility and global reach in construction, together with new concession formulas, are the Company’s growth drivers.

ACCIONA Infrastructure has been in the The Company’s future lines of action are Key figures and business construction business for more than 150 detailed in the 2010-2013 Strategic Plan, lines in 2009: Revenues of years. Its ability to implement cutting- which envisages more than two billion edge techniques in project execution has euros in capital expenditure. The main made it a leader in terms of excellence and growth drivers will be international markets 3.613 billion innovation. We have played a leading role and optimization of new concession euros and a pipeline of in the development of major infrastructure management formulas. By 2013, the 7.021 billion euros in Spain and we have strengthened our Company expects revenues of five billion global presence in key markets in recent euros and EBITDA of over 300 million years. These achievements have been euros. possible due to our firm commitment to excellence, sustainability and innovation, values which have served and will continue to serve as inspiration for all of the Company’s projects. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 31

ACCIONA Infrastructure operates in three areas: civil engineering, construction and Distinctions received concession management. Construction by ACCIONA activity (both civil engineering and building) includes all processes, from Infrastructure projects engineering through project execution ACCIONA to maintenance. The Company also has Infrastructure a number of specialized units such as is dedicated to metal structure workshops, a machinery In 2009, ACCIONA Infrastructure received pool, infrastructure maintenance area, the following awards: developing new and installation and engineering divisions. formulas for ACCIONA Infrastructure has been working Annual COCEMFE-FAMA Albacete award, in public-private to develop new public-private formulas, recognition of ACCIONA Infrastructure’s work in the area of such as PPPs (public-private partnerships). accessibility. partnerships 3rd Annual ‘Potencia de Maquinaria de OP e ACCIONA Infrastructure uses cutting- Ingeniería’ Civil Award for the M-111 highway project, edge technology to develop and apply the a benchmark in sustainability and eco-efficiency. most advanced materials and the most Award for Corporate Sustainability, granted by sustainable construction processes. This is the European Business Awards (EBA). This award recognizes made possible by intense, ongoing research ACCIONA’s efforts and commitment towards sustainability, efforts which have placed the Company at and validates the Company’s strategy and actions, especially the forefront of innovation and made it a risk prevention, from the commercial, environmental, leader in Europe in technology application. management and social development standpoints, which ACCIONA has the largest R&D and exceed those required by law. Innovation division in the sector, in terms WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 32

ACCIONA Infrastructure has consolidated its of both resources and officially approved ACCIONA Infrastructure has strengthened footholds in Canada, projects in European, Latin American and its presence in Canada, Mexico, Chile and Mexico, Chile and Poland Spanish programmes. Poland, which has enabled it to participate in the leading global construction projects Because of its leading position, ACCIONA of the last 50 years. Infrastructure is participating in many international initiatives and research ACCIONA Infrastructure holds annual projects in cooperation with renowned contests to identify best practices in institutes and universities. Of special safety, quality management, environmental note is the Comrehab Eureka project in issues and the implementation of R&D Europe, which studies and develops new and Innovation technology in its projects. techniques for using carbon-fibre strips to The winning projects are selected by strengthen damaged structures, and two an evaluation committee, made up of Spanish CENIT projects: Prometeo, which renowned external professionals. researches new materials, and Dominó, which incorporates nanotechnology into the development of new materials. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 33

Projects in Spain in 2009

Railway, underground A-6 highway embankment. Construction and Site development: and tramway projects: Section: P.K. 418, right embankment. León. security installations Arcosur, sector 89/3. New East Coast high-speed railway Las Palmas de Gran Canaria bypass, for Soria I Prison. Soria. Zaragoza. line. Section: La Encina junction, Phase I. Phase IV. Section: Tamaraceite-Tenoya-Arucas New building at Ramón y Cajal Network of interconnections Albacete. coast. Gran Canaria. Neurobiology Institute, for water regeneration Selection of manager for line 1 of Alcalá de Henares. Madrid. in La Gavia. Madrid. Zaragoza tramway. Madrid-Galicia Ports and seaworks: Barcelona Design Centre, Maintenance, upkeep and repair North-Northwest high-speed railway corridor. Expansion of Huelva port, southern Plaza de las Glorias Catalanas. Barcelona. of road infrastructure. León. Section: Zamora-Lubián. Pedralba de la Pradeira pier, 1st phase. Huelva. Earth movement, excavation Improved water supply in sub-section. Zamora. Expansion of Sagunto Port, northern and surrounding screens of the Hurdes district. Cáceres. New Basque Country railway pier. Valencia. the Madrid International End-to-end sanitation and network. Section: Legorreta. Guipúzcoa. Arrecife Port, cruise ship pier, 1st phase. Convention Centre (CICCM). sewage treatment system in Extension of line 5 of the Barcelona Lanzarote, Las Palmas. Madrid. Caso municipality, phase 1 and connection underground. Section: Horta-Vall d’Hebrón. Multipurpose Centre in Madrid. with the Rioseco/Nalón sewage treatment Barcelona. Other waterworks: New building at the Air Base plant, Asturias. Barcelona-France line. Section: Construction of tailings open to civilian air traffic, Site development under sustainable Gerona-Figueras. Gerona. dams on the Urrobi and Irati Rivers, Virgen del Camino. León. parameters in La Maja, Line 1 of the Granada underground. Otoiz Reservoir. Section: Oroz-Betelu. New HQ for the Ministry of Health between Arnedo and Quel. La Rioja. Section: 1. Sub-section 2: Méndez Núñez- Navarre. and Social Welfare, 2nd phase. Toledo. Villarejo. Granada. Consolidation and waterproofing, New building for emergencies at Refurbishment: Canal Isabel II, reservoir no. 2. Madrid. Navarre Hospital. Pamplona, Navarre. Maternity ward at Punta Europea Road projects: Pyrenees wastewater treatment, zone Hospital in Algeciras, Cádiz. Mudéjar highway (A-23). P1, Aragón River. Aragón. Residential building: Extension of line 5 of Horta-Vall Section: Alto de Monrepós-Caldearenas. 245 homes, garages and storerooms d’Hebron metro. Barcelona. Huesca. Industrial building: in ARI-DS-01, “Tussam garages”, Modifications, Extension of the LO-20 highway. Solar thermoelectric power plant El Porvenir district. Seville. supplementary work, price and Section: Recajo junction and connection with (50MWe) in Palma del Río. Córdoba. 129 homes, store-rooms, garages, settlement reviews, several provinces. Santiago highway, La Rioja and Navarre. Solar thermoelectric power plant pool and gardens in Monte Carmelo Lérida-French border highway (A-14). (50MWe) in Majadas de Tiétar. Cáceres. district, plot 33.1. Madrid. Oil and gas pipelines: Section: Lleida (A-2) – Roselló. Lleida. HV/LV transformer station, Barcelona. 50+60 homes (Government- Segovia-Ávila gas pipeline. Several Nalón Corridor-Cantábrico IV sponsored home to rent to young provinces. highway connection. Section: Lieres Non-industrial building: people with purchase option), Cala Gracio gas pipeline, between Sant junction. Asturias. Construction and operation garages, storerooms and shops, plot M-17 Antoni de Portmany, Santa Eulalia del Río and Underground passageway for of Technology-Science, R&D and and sector M.A9-A2, Soto de Henares, Ibiza. Balearic Islands. handling vehicles in the new landing strip Innovation Centre, Las Tablas, Fuencarral. Torrejón de Ardoz. San Juan de Dios-Cas Tresorer-Son at Málaga airport. Madrid. Madrid. Reus gas pipeline, Mallorca. Balearic Islands. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 34

Works executed in Spain in 2009

Railways: Riudellots-Calle Joan Torró Santander Airport. Railway station at Málaga airport. section of the Barcelona–French border León Airport. New terminal and railway area high-speed railway. at Barcelona airport. A-62 highway between C. Maritime works: Rodrigo and F. Oñoro. Salamanca. Extension of pier 1 at Rota Metro and tramways: C-67 highway, Alar del Rey- Naval Base. Cádiz. Zaragoza tramway. Puebla de S. Vicente. Palencia. Port infrastructure at Isla Infrastructure and A-6, Folgoso de la Ribera–V. Verde Exterior, 3rd part. 1st update. substructure for line 1, light rail in Bierzo León. breakwater, Algeciras Port. Cádiz. Granada. Section III: Campus de la Salud- Design of the Planta delTer- Container terminal Armilla. Trinitat Station highway Barcelona. at Isla Verde Exterior pier. Upgrade and construction of Algeciras Port. Cádiz. installations at Gorg, La Salut and Urban roads: Llefia stations on line 9 of Barcelona Metro. Execution of circuits and Waterworks: Upgrade and construction of building projects of unit no. 5 (speed) Construction of 4th section of installations at Bon Pastor station on for Aragón Motor City. 2nd drinking water ring main for Madrid line 9 of Barcelona Metro. New Málaga west bypass on the region. Valmayor Reservoir. A-7. Section:MA-417–A-357 highway Santoña–Laredo–Colindres Roads: connection. sewer. Cantabria. Alcoy junction. Valencia. Ejeme irrigation network. Extension of the A-8 highway. Airport works: Galisancho, Salamanca. between Orio and Usurbil. Basque Country. Alicante Airport terminal, joint South Garrigues irrigation Grado-Doriga highway. venture. system. Stage IV, Juncosa, Bellaguarda Asturias. Upgrade of electrical system at and Els Torms municipalities, Phase 5B. Aranjuez-Ontígola section Málaga Airport. Barcelona. of the Madrid–East Coast high speed Expansion of landing strip at Segarra–Garrigues Canal. railway. Málaga Airport. Section II (tunnel). Horcajada-Naharros section New terminal at Pamplona Ponts and Oliola municipalities. of the Madrid–East Coast high-speed railway. Airport. Lérida. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 35

Industrial works: Development of industrial- and parking garages for Zaragoza’s Desalination plant, Torrevieja, logistics and transport Logistics Platform. Alicante. Joint venture. platform, Fraga. Huesca. Construction of corporate Expansion of Repsol refinery. Design and execution of offices for Catalan Government Railways Cartagena. mechanobiological plant to treat municipal (FGC). Barcelona. Endesa gas pipeline. San Juan de Dios. solid waste. Tarragona. Water distribution. Valdelentisco. Site development: Murcia. Non-residential building: VilAnova de Arousa Business Construction of La Risca solar Málaga Conference Centre. Park. Pontevedra. thermal plant. Badajoz. Galicia Ciudad de Cultura Arcosur. Zaragoza. Design and execution of a Library. treatment unit for waste water Expansion of the Seville Refurbishment: sludge. Madrid. Conference Centre. Adaptation and upgrade of Construction of gas pipeline, Bus depot for the Municipal seminary. Zaragoza. Zaragoza-Calatayud. Aragón. Transport Company in Sanchinarro. Upgrade of Archbishop’s Palace. Solar thermoelectric power Madrid. Zaragoza. plant (50MWe) in Palma del Río. Córdoba. La Marañosa Technology Refurbishment of seminary. Design, supply, turnkey Institute. Madrid. Comillas, Cantabria. construction and delivery of 5th Alcalá Social Integration Refurbishment of historic FB-141 LNG tank at Huelva plant. Centre. Madrid. seminary at Via Hispanidad, Blade manufacturing building Caja Madrid Obelisk. Madrid. Zaragoza, as municipal offices. for ACCIONA Windpower wind turbines in Alcalá 540 Business Park. Madrid. Comprehensive refurbishment Lumbier. Navarre. Las Rozas Business Centre. Madrid. of Alianza Clinic and Construction of Villamayor John Deere Building. Madrid. adjacent car park. wind farm. Villamayor de Santiago. Coslada Sports Complex. Madrid. Sabadell, Barcelona. Cuenca. Mercasalamanca. Salamanca. 1st phase of remodelling, Lodging for TLP (Tactical Leadership Construction of the Landete refurbishment and roofing Programme) staff and hangar for aircraft Health Centre. Cuenca. of bullring. maintenance at Albacete air base. Construction of offices, shops Tarragona. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 36

INTERNATIONAL Environmental Design) certification system medical centre. The Company was also ACCIONA Infrastructure was very active with a view to obtaining accreditation in awarded various projects, including the in 2009. Of special note is the opening the Gold category. The Company has also Campeche XXI and Ciudad del Carmen of a new office in Melbourne (Australia) pre-qualified for another project which is convention centres. and the Company’s move into the United expected to be awarded in 2010. ACCIONA Arab Emirates; there are plans to set up Infrastructure is building (and will later In Chile, ACCIONA Infrastructure headquarters in Abu Dhabi in 2010. operate) the A30 highway in Montreal, commenced preliminary work for the Canada, and the Royal Jubilee Hospital in financing, construction and operation of The Company has been particularly active British Columbia. Route 160, a 90 km stretch of toll road in in North America and Europe. Concepción Province. ACCIONA also bid In Brazil, ACCIONA Infrastructure for a number of energy projects, some of In Canada, ACCIONA Infrastructure was continues to extend and refurbish highway which have yet to be awarded. awarded the contract to design, build BR-393 (22.4 km long) in the state of Rio and finance the Fort St. John Hospital de Janeiro. ACCIONA Infrastructure takes on more (British Columbia), which spans 15,000m2, technically complex projects with the help has 55 hospital beds and 123 beds In Mexico, ACCIONA Infrastructure was of a group of ACCIONA-owned specialized in a residential care facility for senior awarded six contracts, strengthening its companies. They provide precision, citizens. The hospital will be built in line foothold in the hospital segment (three experience and specialization in the with the LEED (Leadership in Energy & contracts, including Metepec) and a specific areas. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 37

ACCIONA Infrastructure’s subsidiary in Poland Mostostal Warszawa has become one group in 2009 of the country’s leading construction companies Mostostal Warszawa is ACCIONA Construction of the National Infrastructure’s subsidiary in Poland. Music Forum in Wroclaw, for 80 In 2009, it reinforced its standing as a million euros. leading construction company in the Modernization of 20 km of country, reporting its best revenues National Highway 2, near Warsaw, in 65 years in business. Revenues between Zakret and Minsk, costing 23.5 totalled 700 million euros, 50% more million euros. than in 2008, and net profit doubled Construction of 19 km of the to 31 million euros. The group has Wroclaw ring road, from Dlugoleka a pipeline of 800 million euros and Airport, for 145 million euros. its main projects in 2009 were as Construction of 10 km of S8 follows: Highway in Warsaw, for 135 million euros. In 2010, ACCIONA Infrastructure Design and construction of a was awarded the contract for the A-4 17 km section of the A-2 highway near highway, near Rzeszow, for 116 million Warsaw, which cost 220 million euros. euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 38

Ancillary construction companies

ACCIONA Infrastructure entrusts IBERINSA has strengthened its position engineering projects to AEPO and IBERINSA, in many international markets, and has two consulting and engineering companies branches in Honduras, Guatemala, El The most complex with long track records in the market and Salvador, Romania, Egypt and a newly- projects are which are also industry leaders. created subsidiary in the state of Sao Paulo, Brazil. In 2010, it will open a subsidiary in undertaken by IBERINSA Jeddah, Saudi Arabia. specialized companies In the area of engineering, IBERINSA is a owned by ACCIONA leader in large, highly technical projects in In 2009, IBERINSA had projects underway in all areas of civil and industrial engineering. 19 countries. Of special note is the extension IBERINSA employees are highly qualified of the contract (originally signed in 2005) in developing linear works, structures, to design and oversee construction of some architecture, water and maritime works, sections of the Cairo-Alexandria highway. The environment, landscape engineering and Company also completed the viability study renewable energies. and preliminary design for 250 km of railway line between Vidin and Sofia (Bulgaria), undertaken by an international consortium headed by IBERINSA. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 39

IBERINSA is a leader in civil engineering In Spain, IBERINSA also participated in the Cantábrico highway, and; the section of the Ciudad de la Justicia project in Jaén and SE-40 corresponding to the Guadalquivir and industrial projects in the framework agreement with ADIF to North tunnels. The Company was also refurbish the commuter railway stations. awarded construction contracts for sections 7B, 8, 9 and 10 of the Navarre Canal. In the waterworks segment, the Company obtained the contract for the draft design IBERINSA obtained contracts for the for additional regulation of the River Carrión, Miranda de Ebro-Armiñón section of the which included an environmental evaluation Madrid-Basque Country high-speed railway of proposals. and the baseline survey of the Castellón- Tarragona section of the Mediterranean In Portugal, IBERINSA collaborated on the Railway Corridor. Alta Támega hydroelectric complex. As for roads, the company will design the The Company also participated in the Figueruelas-Gallur section of the A-68 and following projects: expand the Buñol-Chiva section of the A-3 to three lanes. Construction of the Alcolea dam on the Odiel River; the Santa Cilia-Puente La Reina de Jaca The Company also obtained its second section of the A-21 highway; the Burgo de environmental consulting contract Osma-San Estebán de Gormaz section of with ADIF, the railway infrastructure the A-11; the Otur-Villapedre section of the administrators. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 40

AEPO Construction design for the Seville-Huelva As a benchmark engineering company, high-speed railway. Section 5: Niebla-Huelva AEPO maintained a strong presence in (Huelva). projects undertaken by both the central Bobadilla-Granada high-speed railway line. government and by regional and city Section: Bobadilla-Antequera junction. governments. Viability studies and baseline surveys with environmental impact evaluation to extend The company expanded its international the R-5 toll road between Madrid and AEPO increased footprint in 2009. Navalcarnero to Talavera de la Reina. its share of central Viability study and design project for government The most significant contracts obtained in the Cuenca-Albacete highway, section II: 2009 are as follows: connection with the N-III-Albacete. projects in 2009 Route and construction design of the A-57 highway, A-52-Pontevedra connection. Section: A-52, O Confurco–Padróns. Basic design for the Southern Tenerife railway line, between Fasnia and Arico. Construction design for general infrastructure to provide irrigation service WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 41

AEPO also considerably increased its presence in projects

with treated water from La Víbora, AEPO internationally outside Spain in 2009 Fuengirola and Arroyo de la Miel wastewater In 2009, AEPO was active in opening treatment plants in Málaga province. branches in various countries to improve Oversight of resurfacing work on the access to local markets. In Poland, it N-145 highway between La Seu d’Urgell and obtained its first contract with the Polish Andorra. Road Administration to supply auscultation Contract for the auscultation of road equipment. It opened new branches in Peru surfaces and measurement of the sideways and Saudi Arabia, the latter in cooperation force coefficient of various sections of with IBERINSA. The company continued Spain’s highway network. This contract will project oversight work in Gabon and on enable the company to further develop Route 160 in Chile, and is participating in the SCRIM technology, which was recently the tender for the Northern Link project in brought into service. The company has Brisbane, Australia. also been engaged to monitor quality indicators on various sections of the first- generation highways. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 42

FREYSSINET GROUP Freyssinet projects in 2009 include: Tierra Armada projects in 2009 included: Freyssinet Group comprises companies offering a wide range of specialized Repair of the Bridge of the Americas, Walls and prefabricated concrete construction products and services, under Panama. components in the VA-30 southern exterior the prestigious Freyssinet and Tierra Armada Construction of the Tuxtepec Bridge, in roundabout, in Valladolid; the A-15, between brands. Oaxaca, Mexico. Radona and Sauquillo del Campo, in Soria; Refurbishment of sentry boxes at the San the new carriageway in Despeñaperros, in Freyssinet participates in projects requiring Fernando Fort, in Gerona (Spain). Jáen; C-280 and C-822 bypasses between the use of stays, prestressing, movement Refurbishment of Descalzos Church, in Adeje and Santiago del Teide, in Tenerife; the of large loads, repair and refurbishment Écija, Seville (Spain). cycling path between Alcàsser and Valencia of buildings and structures, design and Refurbishment of city government offices (all in Spain); the Maracaibo road junction manufacture of special ancillary elements in Aranjuez, Madrid. Refurbishment of Sancti in Venezuela and the Gaviotas junction in such as structural supports, dilatation joints Petri Castle, in Cádiz (Spain). Mexico. for roads, seismic shock absorbers, etc. Surveillance and inspection of hoods and Containment walls of Paso Pehuenche, vertical tendons of the Ascó II Nuclear Argentina. Tierra Armada works with hi-tech Power Plant in Tarragona (Spain). Arches and caissons on the A-22 road prefabricated components such as Reconditioning of bridges over the Niteroi between Lleida and Huesca (Spain), reinforced earth or buttressed containing River, in Brazil, and La Pigua River, in and Charo junction, Mexico. walls, arches and caissons, acoustic screens, Villahermosa, Mexico. Beams and decks for the bridges on the prefabricated beams, and other turnkey Prestressing work on: the Paseo Colón A-43, Northwest and East Manzanares; prefabricated structures which greatly building in Buenos Aires, Argentina; widening of the GC-2 between Santa María facilitate project management. National Route 14 in Argentina; LNG tank de Guía and Pagador, in Gran Canaria; and in Manzanillo, Mexico; the Nuevo bridge the C-820 and C-822 bypasses between in Mexico; Málaga’s new western ring road Santiago del Teide and Adeje, in Tenerife (Spain); LNG tank in Cartagena (Spain); (all in Spain). Trapagarán viaduct in Bilbao (Spain). WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 43

ACCIONA’s construction companies are responsible for managing large GTCEISU CONSTRUCCIÓN S.A. Slurry walls using hydrofraise technical, specialized This leader in special foundations and for line 9 of Barcelona Metro (Spain). projects earth and environmental improvements, Sliding formwork of the Trabaledo specialises in geotechnology, from embankment, León (Spain). excavation through drilling to earth Slurry wall for the extension of Madrid treatment. Metro’s Line 2 to Las Rozas (Spain). Its main projects in 2009 were: In situ pilot piles for the foundation of the wind farm in Herrera de Valdecañas, Madrid’s International Convention Palencia (Spain). Centre (Spain). Foundation for the Sotiello-Campomanes Foundation using prefabricated piles in sub-section of the León-Asturias high-speed the Castellbisbal-Mollet road in Barcelona railway (Spain). (Spain). Wind farm in Herrera de Valdecañas, Palencia (Spain). WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 44

ACCIONA has continued to expand its portfolio of ACCIONA Infrastructure Maintenance public works The goal of ACCIONA Infrastructure The Company is currently working on 21 Maintenance is to undertake projects contracts; it has close to 500 employees and provide services in end-to-end and an extensive pool of machinery and management of roads (motorways, other resources. highways, urban roads, etc.), water works (canals, reservoirs, etc.), environmental Stand-out projects awarded in 2009 infrastructure and, overall, the activities include the Infrastructure Ministry for the related to upkeep, mainly of public upkeep of the following highways: A-66, infrastructure. N-360 and N-630a in Salamanca province and N-634, N-634a, A-54, N-547 and N-525 in La Coruña province, all in Spain. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 45

ACCIONA Concessions

Because of the need to expand and ACCIONA Concessions builds and operates of the process of designing, building, improve citizen services, governments use transport infrastructure, such as highways, financing and operating hospitals under the concession system to obtain the best railways, ports, irrigation systems, and social the concession formula, the Company has infrastructure at the best price. ACCIONA infrastructure (e.g. universities, hospitals). bid for numerous projects in recent years. Concessions has the experience and ability The Company has expanded to international Bidding activity is intense in this area: the required to undertake these projects markets, and in 2009 it participated in Company is currently working on various successfully. tenders in Chile, Brazil, Colombia, Peru, bids in a number of countries, notably Italy, Canada, Italy and Australia. Poland, Chile, Brazil, Peru, Mexico, Canada Concessions allow for the initial investment and Australia. to be deferred over the life of the Within ACCIONA Concessions, the company infrastructure, and offer budget security ACCIONA Hospital Services focuses on by transferring most of the risks, such as managing hospital concessions, a business the price and construction deadline, to the model that has begun to spread throughout private sector. The concession holder builds the healthcare industry. Created with the the infrastructure and operates it for a aim of becoming a leader, both in Spain specified period. and worldwide, in end-to-end management WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 46

In 2009, ACCIONA Concessions was Infrastructure brought into service under Quality certified awarded two new concessions: concession includes:

Zaragoza tramway. Concession for the A section of the BR-393/RJ toll road, Brazil. design, construction, financing, upkeep Aguacanal project, sector IV of the Navarre and operation of the 13 km Zaragoza Canal irrigation scheme, Spain. In 2009, the Company obtained ISO tramway (25 stops) for 35 years. The A2 highway. R-2 – L.P. section between 9001 and ISO 14000 certifications project will be operated through a public- Soria and Guadalajara, Spain. for the following concessions: private partnership (PPP) with Zaragoza city University of San Luis Potosí (Phase II), government. Mexico. Polytechnic University of San Luis Fort St. John Hospital, in British Columbia, Potosí. Mexico. Canada. Concession to design, construct, Aguacanal. Navarre Canal irrigation finance and maintain the hospital for 30 scheme. Spain. years from its entry into service (excluding A30 highway in Montreal. Canada. the construction period, which will be less than three years). The 55-bed hospital, which will span 22,500m2, will also have 123 beds in a separate residential care facility for senior citizens. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 47

Infrastructure concessions International in Spain infrastructure under concession

Tramways & URBAN RAILWAYs: Highways and toll roads: TBaixram Llobregatbaix. tramway. Barcelona. Américo Vespucio South highway, Trambesòs. Glòries-Besòs tramway. Barcelona. Route 78 - Avda. Grecia. Chile. Zaragoza tramway. Central Coastal Road Network. Chile. Route 160. Section: Tres Pinos - north access HIGHWAYS, MOTORWAYs & ROADs: to Coronel. Chile. CM-400 highway. Consuegra-Tomelloso section. A-30 highway in Montreal. Canada. Castile-La Mancha. Rodovia Do Aço, BR-393/RJ toll road. Brazil. R-2 toll road. Madrid-Guadalajara and M-50, sub-section between N-II and N-I. Universities: Villafranca-El Burgo de Ebro highway. Zaragoza. Polytechnic University of San Luis Potosí. A-2 highway. R-2 – L.P. section between Soria and Guadalajara. Mexico.

Ports: Hospital services: Roda de Barà marina. Tarragona. Bajío Regional High Speciality Hospital and Support Unit. Mexico. irrigation works: Royal Jubilee Hospital. Canada. Navarre Canal irrigation scheme - Aguacanal. Fort St. John Hospital. Canada.

hospital services: Infanta Sofía Hospital. San Sebastián de los Reyes. Madrid. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 48

ACCIONA Infrastructure has more than 450 professionals specialized in industrial, energy and ACCIONA Installation Services nuclear plants, and infrastructure ACCIONA Installation Services brings ACCIONA Installation Services’ activities together a range of industrial activities with focus on sustainable development based the aim of responding to society’s current on excellence and on respect for the and future needs. It has a multi-disciplinary environment. group of more than 450 highly-qualified professionals to meet the needs of an Infrastructure & Eco-Efficient increasingly demanding field. Solutions This part of the company provides Its business is structured into four groups: engineering and assembly services in the areas of climate control, electricity, Infrastructure & Eco-Efficient Solutions. security and oversight, sprinkler systems Energy. and renewable energies for all types Industrial Plant. of construction, civil engineering and Nuclear Power Plant. industrial infrastructure. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona INFRASTRUCTURe Acciona Annual Report 2009 // 49

The company uses innovation to respond Industrial Plant audited independently in accordance with 10 to energy efficiency needs arising in Designs and executes all types of industrial FR50 Apex B, NQA-1, UNE 73401 and Spain’s construction and development projects, installations, including new construction, Nuclear Security Council guidelines. leading to zero-emission buildings and eco- and expansion and reform of existing efficient districts. structures. The methodology employed by Excellence and sustainability the Industrial Plant division is based on the In 2009, ACCIONA Installations obtained the Energy use of innovative, environmentally-friendly following certifications and accreditations: Operates throughout Spain in the technology with a view to bringing down

production, transmission, switching and CO2 emissions and, thus, contributing UNE-EN ISO 9001:2008 for Quality distribution of electricity at voltages up towards more sustainable development. Management. to 220 kV; it provides civil engineering OHSAS 18001:2007 for Occupational and electromechanical assembly services Nuclear Power Plant Division Health and Safety Management. for electrical substations, on which it also An international leader in the execution of UNE-EN ISO 14001:2004 for performs tests and trials. nuclear power plants, this division is registered Environmental Management. in the Spanish nuclear company directory UNE 166002 for R&D and Innovation and has its own Quality Guarantee Manual, Management. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 AccionAacciona energy AccionAAcciona Annual Report 2009 // 50 acciona energy Acciona Annual Report 2009 // 51

ACCIONA Energy As one of the flagship operators in the Spanish electricity market, ACCIONA Energy scored 1.25 billion euros in revenues in 2009.

ACCIONA Energy is the world’s third-largest year-on-year) due to the 72.4% reduction renewable energy company. The February in the contribution by the wind turbine and 2009 agreement for the gradual addition of solar photovoltaic manufacturing businesses. Endesa assets greatly expands the Company’s The lower average price obtained for wind business in this area. ACCIONA Energy is power in Spain (-22.6%) also took its toll: one of the pivotal players in the Spanish electricity revenues increased by just 19%. electricity market, where it ranks fourth in Electricity generation contributed some 983 terms of installed capacity, behind the three million euros in revenues (78.8% of the long-standing market leaders. total) and manufacturing businesses some 265 million euros (21.2%). EBITDA totalled In 2009, ACCIONA’s energy arm obtained 629 million euros, up 6.8%, while EBT 1.248 billion euros in revenues (down 30% declined by 48.1% to 97 million euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 50 acciona energy Acciona Annual Report 2009 // 51

Operational capacity grew by 53% and output by ACCIONA Energy added 2,567 MW in Output rose to 13,569 GWh, up 40.5%, of renewable capacity in 2009, its largest-ever which 12,968 GWh came from renewable annual increase in operating capacity; 2,079 sources (45% more than in 2008). Endesa 40% MW were the result of acquiring assets assets acquired at the end of June began from Endesa (1,227 MW wind and 852 contributing to output in the second half of MW hydroelectric) and the rest came from the year. organic growth by the division. As a result, ACCIONA attained 7,437 MW of installed The Company now has 6,555 MW of capacity, a 52.7% year-on-year increase. attributable capacity (63.7% higher), while Renewables came to a total of 7,337 MW output in 2009 was 11,752 GWh, up 48.6% (98.7% of the overall total). year-on-year. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 52 acciona energy Acciona Annual Report 2009 // 53

ACCIONA commissioned its two largest wind farms in 2009, with a combined This strengthened the Company’s position Completion of the Alvarado solar thermal installed capacity of notably and placed it in an excellent position plant (50 MW), ACCIONA’s first in Spain, to to tackle the objectives of the 2010-2013 be followed by another four facilities, three MW Strategic Plan, unveiled in March 2010. of which were already under construction 442 in 2009. Aside from the addition of those assets, the The substantial increase in hydroelectric main milestones in 2009 were as follows: output (due to the addition of Endesa’s assets in the second half of the year) and Completion of the Eurus wind farm in solar PV output (on the back of the first full Mexico (251 MW), placing ACCIONA in year of operation at the solar PV plant in a leading position in a country that it has Amareleja, in the Moura region of Portugal). identified as a strategic priority. Registration of 1,104 MW of renewables Completion of commissioning of the in Spain’s Special Regime Pre-Assignment Waubra wind farm (192 MW) in Australia, Register, ensuring that output at these which is the Group’s second-largest in terms facilities qualify for the special regime of installed capacity and is located in another remuneration. key market for ACCIONA. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 52 acciona energy Acciona Annual Report 2009 // 53

BUSINESS PERFORMANCE

TOTAL OUTPUT: 13,569 GWh Spain accounted for 74% of the Company’s AccionA energy’s output In 2009, ACCIONA generated a total of total output; the United States 9.8%; Australia Total Attributable 13,569 GWh, of which 12,968 GWh (95.6%) 4.1%; Canada 2.8%; Portugal, Germany, (GWh) 13,569 (GWh) 11,752 came from renewable sources and the rest Mexico and South Korea between 1% and (601 GWh) from cogeneration plants. 2% each; and the other countries (Italy, India, 9,659 Greece and Hungary) less than 1%. 7,911 ACCIONA boosted its output in Spain to 10,038 GWh (up 26.5%) and there were In attributable terms, corresponding to notable increases in output in the US ACCIONA’s shareholdings in companies +40.5% (135%), Australia (182%), Portugal (279%), owning generation facilities, ACCIONA Energy +48.6% Italy (195%) and India (171%), as well as generated 11,752 GWh in 2009, up 48.6%. substantial production in its first year of Production in Spain totalled 8,574 GWh (up operations in Mexico. 30.8%). 2008 2009 2008 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 54 acciona energy Acciona Annual Report 2009 // 55

Source of ACCIONA’s power generation in 2009 OUTPUT BY REGION (*) Percentage of total

COUNTRIES 2008 (gWh) 2009 (gWh) DIFFERENCE (%) SPAIN 74% SPAIN 7,934 10,039 +26.5 % US 9.8% AUSTRALIA 4.2% RENEWABLES 7,242 9,438 +30.3 % CANADA 2.8% COGENERATION 692 601 -13.1 % PORTUGAL 2% GERMANY 1.9% USA 567 1,335 +135 % MEXICO 1.7% CANADA 417 384 -8 % SOUTH KOREA 1.2% MEXICO - 227 - OTHER 2.4% (*) (*) Broken down between: AUSTRALIA 200 565 +182 % Italy (0.8%) India (0.7%) PORTUGAL 71 268 +279 % Greece (0.6%) SOUTH KOREA 13 164 +1,162 % Hungary (0.3%) GERMANY 250 259 +3.5 % ITALY 35 103 +195 % GREECE 88 78 -11 % INDIA 37 101 +171 % ACCIONA’s power output in Spain (excluding 17.7% of all power generated in Spain, HUNGARY 47 46 -2 % power generated at ordinary-regime and wind power output (8,233 GWh) total energy 9,659 13,569 +40.5 % hydroelectric plants, totalling 595 GWh) represented 22.6%. total renewables 8,967 12,968 +44.6 % amounted to 9,444 GWh, representing 12% Cogeneration 692 601 -13.1 % of special regime electricity production in In attributable terms, ACCIONA’s renewable 2009 (Source: CNE, Spain’s energy regulator). output accounted for 15.9% of all power generated in Spain, and its wind power * All ACCIONA Energy’s international facilities are renewables-based. The Company’s renewable output under the output represented 18.6%. Special Regime (8,843 GWh) represented WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 54 acciona energy Acciona Annual Report 2009 // 55

OUTPUT IN 2009 BY TECHNOLOGY AND REGION (GWh) SPAIN OTHER COUNTRIES Total TOTAL ATTRIBUTABLE TOTAL ATTRIBUTABLE total ATTRIBUTABLE WIND 8,233 6,769 3,317 2,977 11,550 9,746 HYDROELECTRIC 1,037 1,037 - - 1,037 1,037 BIOMASS 162 162 - - 162 162 SOLAR PHOTOVOLTAIC 4 4 90 78 94 82 SOLAR THERMOELECTRIC 2 2 123 123 125 125 TOTAL RENEWABLE 9,438 7,974 3,530 3,178 12,968 11,152 COGENERATION 601 600 - - 601 600 TOTAL ENERGY 10,039 8,574 3,530 3,178 13,569 11,752

INSTALLED CAPACITY: The overall increase in installed capacity was significantly higher than in 2009. It is also 2,567 NEW MW especially notable in Spain, where ACCIONA worth highlighting the 213 MW installed in In 2009, ACCIONA added 2,567 MW of new added 2,219 MW to bring the total to 5,688 Mexico, representing 61.4% of ACCIONA’s capacity, a 52.7% increase on the figure at MW, a 65.9% increase, due mainly to the 347 MW installed abroad. the previous year-end. Of these: acquisition of renewables assets from Endesa. The Company also added 94 MW in Portugal. In attributable terms, at 31 December 1,665 MW (64.9%) wind power. 2009, ACCIONA had 6,555 MW of total 852 MW (33.2%) hydroelectric. Assuming similar energy capacity, a full installed capacity, 64% more than one year 50 MW (1.9%) solar thermal. year’s output from these assets would be previously. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 56 acciona energy Acciona Annual Report 2009 // 57

ACCIONA-OWNED INSTALLED CAPACITY BY TECHNOLOGY (MW) TECHNOLOGY 2008 YEAR-END ADDED IN 2009 2009 YEAR-END WIND 4,565.60 1,664.78 6,230.38 HYDROELECTRIC 58.79 851.80 910.59 BIOMASS 33.00 - 33.00 SOLAR THERMAL 64.00 50.00 114.00 PHOTOVOLTAIC 48.26 - 48.26 THERMAL 0.72 - 0.72 TOTAL RENEWABLE 4,770.37 2,566.58 7,336.95 COGENERATION 100.30 - 100.30 TOTAL CAPACITY 4,870.67 2,566.58 7,437.25

AccionA energy capacity Capacity added in 2009 Total capacity at 2009 year-end (percentage of total) (Percentage of total) Company-owned installed capacity Attributable capacity (total MW installed) (total MW installed) 7,437 6,555 4,871 4,004

+52.7% +63.7%

SPAIN 86.5% SPAIN 76.5% 2008 2009 2008 2009 OTHER COUNTRIES 13.5% OTHER COUNTRIES 23.5% WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 56 acciona energy Acciona Annual Report 2009 // 57

ACCIONA Energy operations Figures at 31.12.2009 (in MW)*

hUNGARY 24

GERMANY 150

CANADA 136 SPAIN 5,668 US 554 WIND 4,591 WIND 490 HYDROELECTRIC 911 SOUTh KOREA 62 SOLAR THERMAL 64 SOLAR THERMAL 50 BIOMASS 33 SOLAR PHOTOVOLTAIC 2 INDIA 30 MEXICO 251 SOLAR THERMAL 1 COGENERATION 100

PORTUGAL 165 GREECE 48

WIND 119 SOLAR THERMAL 46 AUSTRALIA 258

ITALY 71

* Capacity is wind unless indicated otherwise. Attributable MW: 6,555 COMPANY-OWNED MW: 7,437 MW ACCIONA-OWNED FACILITIES Total installed MW: 8,992 THIRD-PARTY FACILITIES IN PERMIT PHASE WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 58 acciona energy Acciona Annual Report 2009 // 59

Eight million metric tons of co2 emissions avoided

Considering the emission factor in each of Avoided emissions increased by 42% with co2 emissions avoided the countries where ACCIONA generated respect to the previous year. by AccionA energy renewable electricity in 2009 (depending on 8.03 the energy mix in each country), a total of As for equivalent demand met by ACCIONA’s

8.03 million metric tons of CO2 emissions electricity production, the 13,569 GWh were avoided (7.86 million from renewable generated in 12 countries covered the 5.65 power generation and 0.17 million from demand of 2.4 million people, a figure cogeneration). arrived at by dividing ACCIONA’s output in each country with the per capita electricity +42.1% demand in each country (which ranges from 639 kWh in India to 15,701 kWh in Canada).

2008 2009 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 58 acciona energy Acciona Annual Report 2009 // 59

1. Wind power further in the lead

1,665 MW ADDED Wind accounted for 64.9% of total renewables ACCIONA added 1,664.8 MW in wind power capacity added by ACCIONA in 2009. capacity to its asset portfolio in 2009: 1,227 MW of wind farms acquired from Endesa and Total wind power capacity at year-end 437.8 MW of farms built by ACCIONA. All of amounted to 6,230 MW, up 36.5%. them are 100%-owned by the Company. Attributable wind capacity amounted to 5,364 MW (45% higher, all facilities being The assets acquired are located in Spain 100%-owned). (41 wind farms totalling 1,133.3 MW) and Portugal (16 wind farms totalling 93.7 MW). Wind capacity added in 2009 Total wind capacity at 2009 year-end Installed capacity added in the year was broken down as follows: Mexico 213 MW, Spain 184 MW, South Korea 15 MW, Australia 15 MW, US 4.5 MW, Greece 4.25 MW and Germany 2 MW. Most of this new capacity (58% outside Spain) corresponds to commissioning of wind farms on which construction commenced in 2008.

SPAIN 1,317 MW (79%) SPAIN 4,591 MW (74%) OTHER COUNTRIES 348 MW (21%) OTHER COUNTRIES 1,639 MW (26%) WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 60 acciona energy Acciona Annual Report 2009 // 61

AccionA energy wind capacity

ACCIONA-owned and Company-owned capacity Attributable capacity third-party capacity (total MW installed) (total MW installed) (total MW installed) 7,702 6,230 5,364 6,037 4,566 3,699

+27.6% +36.4% +45%

2008 2009 2008 2009 2008 2009

40% INCREASE IN SPAIN New capacity as a result of organic growth on-year increase. This installed capacity is The wind farms acquired in Spain of the division in Spain (184 MW) was distributed among 162 wind farms. (1,133.33 MW) are located in five regions: distributed between Valencia (90 MW in four wind farms), Castile & León (two facilities In attributable terms, ACCIONA had 3,923 MW Andalusia: 14 (328.4 MW). totalling 60 MW) and Castile-La Mancha total installed capacity at year-end. Galicia: 13 (308.88 MW). (one 34 MW wind farm). Between the Company-owned facilities and Valencia: 8 (290.8 MW). the 38 wind farms installed for third parties, Castile-La Mancha: 5 (184 MW). The 1,317 MW added in Spain as a result ACCIONA has installed a total of 5,945 MW Castile & León: 1 (21.25 MW). of both kinds of growth raised ACCIONA’s in Spain. total installed wind power capacity to 4,591 MW in its domestic market, a 40.2% year- WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 60 acciona energy Acciona Annual Report 2009 // 61

Wind capacity in Spain cumulative figures at 31.12.2009 (in MW)

ASTURIAS 83 BASQUE COUNTRY 10

GALICIA 994 NAvARRE 795

CATALONIA 195

ARAGON 49 CASTILE-LEÓN 500

vALENCIA 921

CASTILE-LA MANChA 543

ANDALUSIA 501

Attributable capacity: 3,923 MW COMPANY-OWNED INSTALLED CAPACITY: 4,591 MW Company-owned and third-party installed capacity: 5,945 MW WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 62 acciona energy Acciona Annual Report 2009 // 63

Wind power capacity added in 2009 (MW*)

REGION ACQUIRED FROM ENDESA BUILT total SPAIN 1,133.33 184.00 1,317.33 VALENCIA 290.80 90.00 380.80 ANDALUSIA 328.40 - 328.40 GALICIA 308.88 - 308.88 CASTILE-LA MANCHA 184.00 34.00 218.00 CASTILE & LEÓN 21.25 60 81.25 OTHER COUNTRIES 93.70 253.75 347.45 MEXICO - 213.00 213.00 PORTUGAL 93.70 - 93.70 SOUTH KOREA - 15.00 15.00 AUSTRALIA - 15.00 15.00 US - 4.50 4.50 GREECE - 4.25 4.25 GERMANY 2.00 2.00 TOTAL 1,227.03 437.75 1,664.78

* These figures are also attributable since all the facilities are 100% Company-owned. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 62 acciona energy Acciona Annual Report 2009 // 63

The 250.5 MW Eurus wind farm, is the biggest in Latin America and the largest built by ACCIONA anywhere in the world

THE BIGGEST WIND FARM in an area of very high wind potential, it is (Illinois, US), 4.5 MW; Panachaiko II (Greece), IN LATIN AMERICA a milestone in the Company’s presence in 4.25 MW; and Danna (Germany), 2 MW. The most notable milestone outside Spain in Mexico. 2009 was the completion of the Eurus wind The renewables assets package acquired farm in Oaxaca, Mexico, where 213 MW In Victoria, Australia, 15 MW were added to from Endesa included 16 facilities in Portugal were added to the 37.5 MW that had been the Waubra wind farm bringing total capacity (93.7 MW in total). operational since 2008. there to 192 MW; it is the second-largest wind farm built worldwide by ACCIONA. The 250.5 MW Eurus facility is the largest wind farm in Latin America and the largest ACCIONA also completed a number of built by ACCIONA anywhere in the world. wind power facilities in other countries: Located in the Mexican state of Oaxaca, Yeong Yang (South Korea), 15 MW; Ecogrove WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 64 acciona energy Acciona Annual Report 2009 // 65

ACCIONA’s total wind power production grew by

38.4% WIND POWER PRODUCTION AccionA’s wind power output in 2009 to INCREASED BY 38.4% Total output Attributable output ACCIONA’s total wind power output in (Annual data, in GWh) (Annual data, in GWh) 2009 was 11,550 GWh, up 38.4% on the GWh 11,550 9,746 11,550 previous year. Wind farms in Spain produced 8,233 GWh (a 21.7% increase) and those located in other countries produced 3,317 8,347 6,601 GWh (109% more).

Output in Spain accounted for 71.2% of the total. The United States (1,212 GWh) +38.4% +47.6% represented 10.5% of ACCIONA’s total wind power output, followed by Australia (4.9%), Canada (3.3%) and Germany (2.2%). Mexico, with a still-small contribution by 2008 2009 2008 2009 the Eurus wind farm, accounted for 2% of total output.

In attributable terms, ACCIONA’s wind power output was 9,746 GWh, 47.6% more than in 2008. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 64 acciona energy Acciona Annual Report 2009 // 65

WIND POWER OUTPUT BY REGION (*) COUNTRIES 2008 (gwh) 2009 (gwh) change (gwh) change (%) SPAIN 6,764 8,233 + 1,469 + 21.7% US 431 1,211 + 780 + 181% CANADA 417 385 -32 -8% MEXICO - 227 +227 - AUSTRALIA 200 565 +365 +182% PORTUGAL 65 178 +113 +174% SOUTH KOREA 13 164 +151 +1,162% GERMANY 250 259 +9 +3.5% ITALY 35 103 +68 +195% GREECE 88 78 -10 -11.4% INDIA 37 101 +64 +171% HUNGARY 47 46 -1 -2% TOTAL WIND POWER 11,550 +3,203 +38.4%

(*) Total figures for facilities in which ACCIONA holds a stake. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 66 acciona energy Acciona Annual Report 2009 // 67

2. Hydroelectric power on a different scale

At year-end 2008, ACCIONA had 19 Of the 60 small (mini-) hydro plants Output totalled 1,037 GWh in 2009 small hydroelectric plants in Spain, with a acquired, 35 (totalling 678.9 MW) are (595 GWh under the Ordinary Regime and combined installed capacity of 58.8 MW. included in the Ordinary Regime of 442 GWh under the Special Regime), In 2009, the Company acquired a total of electricity generation in Spain and their vs. 235 GWh in 2008. 60 facilities from Endesa with a combined output is sold to the pool without the capacity of 851.8 MW, placing it among the renewables premium. Another 25 facilities, Of the plants acquired, 41 are located in hydroelectric industry leaders in Spain, with totalling 172.9 MW, operate under the Aragon (744 MW), 13 in Catalonia (40.7 910.6 MW in operation. Special Regime and therefore qualify for the MW), 4 in Cantabria (44.5 MW), 1 in Navarre premium. (18.7 MW) and 1 in Castile & León This transaction greatly diversified (3.9 MW). These acquisitions were added ACCIONA’s asset portfolio. Whereas The output of practically all those facilities to the small hydro plants already run by hydroelectric represented 1.2% of the total was counted in 2009, which greatly ACCIONA (18 in Navarre and 1 in La Rioja), facilities in which the Group held a stake at increased 2009 output with respect to 2008 making a total of 79 operating facilities. the end of 2008, that figure was 12.2% at (by 341%). the end of 2009. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 66 acciona energy Acciona Annual Report 2009 // 67

Hydroelectric capacity and output Hydroelectric Installed capacity Output output increased by (MW) (GWh) 910.6 1,037 341% and capacity by 1,449%

235 58.8 +341% +1,449% * Includes six months’ output from plants 2008 2009 2008 2009* acquired from Endesa.

ACCIONA’s HYDROELECTRIC CAPACITY (MW at year-end) REGION ORDINARY REGIME SPECIAL REGIME total ARAGON 656.3 87.7 744.0 NAVARRE 18.7 57.8 76.5 CANTABRIA - 44.5 44.5 CATALONIA - 40.7 40.7 CASTILE & LEÓN 3.9 - 3.9 LA RIOJA - 1 1.0 TOTAL 678.9 231.7 910.6 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 68 acciona energy Acciona Annual Report 2009 // 69

3. First solar thermal/CSP plant in Spain

In the second half of 2009, ACCIONA Energy Since June 2007, ACCIONA has had an grid-connected its first solar thermoelectric/ operational plant in the United States, CSP (Concentrating Solar Power) plant in Nevada Solar One (64 MW), the largest solar Spain: the 50 MW Alvarado facility in the thermal plant in terms of installed capacity province of Badajoz (Extremadura). built anywhere in the world in the last 18 years and a technological standard-bearer ACCIONA is building another three 50 MW in the development of this energy source. solar thermal plants in Spain. Two of them ACCIONA plans to increase its solar thermal (Palma del Río II, in Cordoba, Andalusia, and installed capacity in the United States, where Majadas, in Cáceres, Extremadura) will come it has major projects in the permit process. on stream in 2010, and the third (Palma del Río I), in 2011. In 2009, the Company’s solar thermoelectric production was 125 GWh (8% less than in The Company has also registered the 2008). solar thermal plant in Orellana (Badajoz, Extremadura) in the Spanish Industry Ministry’s Pre-Assignment Register. ACCIONA ENERGY’S SOLAR THERMAL PLANTS (31.12.2009) Accordingly, ACCIONA will have 200 MW NAME CAPACITY (mw) STATUS LOCATION of Company-owned solar thermal energy NEVADA SOLAR ONE 64 Operational Nevada (US) facilities within the framework of the 2010– ALVARADO I 50 Operational Extremadura (Spain) 2013 Strategic Plan. The Company has a fifth PALMA DEL RÍO II 50 Advanced construction Andalusia (Spain) plant in the pipeline in Spain (Alvarado II), MAJADAS 50 Advanced construction Extremadura (Spain) also 50 MW. PALMA DEL RÍO I 50 Under construction Andalusia (Spain) ORELLANA 50 Approved Extremadura (Spain) ALVARADO II 50 Permit process Extremadura (Spain) total 364 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 68 acciona energy Acciona Annual Report 2009 // 69

4. Preparing the solar photovoltaic projects of the future

Following the spectacular growth in In 2009, ACCIONA sold 34% of Amper AccionA’s solar PV output (GWh) previous years and the practical halt on new Central Solar, the company that owns the 94 photovoltaic projects in Spain, ACCIONA Amareleja plant, to Mitsubishi Corporation as focused in 2009 on preparing new facilities part of the strategic alliance between the two for sale to third parties. Italy, the US and Spain companies. are the countries where these initiatives are expected to materialize. ACCIONA owns a total of 48.3 MWp (32.5 MW attributable, since the sale to Mitsubishi) In output terms, the Company generated 94 and has built another 66.8 MWp for third GWh overall, a 968% increase year-on-year, parties, mainly in the form of huertas solares® +968% 8.8 due to the commissioning of the Amareleja (solar farms). The Company has channelled solar PV plant in Moura (Portugal) at the investments totalling 456 million euros from end of 2008. Amaraleja, with an installed more than 3,500 private individuals into 2008 2009 capacity of 45.8 MW (one of the world’s this form of solar PV (which it created and largest), generated a total of 90 GWh in registered years ago). 2009; the Company owns another 4 GWh of capacity in Spain. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 70 acciona energy Acciona Annual Report 2009 // 71

5. Two new biomass plants in 2010

ACCIONA, which has three biomass plants in Castile & León; Alcázar de San Juan operating in Spain (33 MW in total), and Mohorte (16 MW each) in Castile-La commenced construction of another two Mancha, and Utiel (10 MW) in Valencia. plants in 2009: one in Briviesca (Burgos, Castile & León) and the other in Miajadas ACCIONA’s biomass plants produced a (Cáceres, Extremadura). total of 163 GWh in 2009, 32% less than in 2008. Each has an installed capacity of 16 MW and will produce approximately 120 GWh per year. They will come on stream ACCIONA ENERGY’S BIOMASS PLANTS (31.12.2009) during 2010. NAME CAPACITY (mw) STATUS LOCATION SANGÜESA 25 Operational Navarre ACCIONA has another five projects for TALOSA 4 Operational Soria (Castile & León) biomass plants in Spain currently in the PINASA 4 Operational Cuenca (Castile-La Mancha) permit process: Valencia de Don Juan BRIVIESCA 16 Under construction Burgos (Castile & León) (25 MW) and Almazán (16 MW), MIAJADAS 16 Under construction Cáceres (Extremadura) total 65 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 70 acciona energy Acciona Annual Report 2009 // 71

6. Other Businesses

REDUCED WIND TURBINE When it presented its Strategic Plan, ACCIONA The Company has another biodiesel plant, GENERATOR ACTIVITY confirmed that ACCIONA Windpower gives with an annual production capacity of 70,000 Lower investment in new wind facilities by the energy division a competitive advantage metric tons, located in Caparroso (Navarre), ACCIONA Energy and a dip in customers led over rivals (who are purely developers and which produced less than expected due to the ACCIONA Windpower to substantially cut its operators) that will become increasingly difficult market situation in Spain. production of wind turbine generators in 2009. important as the sector recovers. The Company assembled 123 wind turbine The bioethanol plant in Alcázar de San Juan, generators in the year (1.5 MW each, totalling 200,000-METRIC-TON BIOFUELS which is 50%-owned by ACCIONA and 184.5 MW). PLANT OPERATIONAL uses surplus wine alcohol as a raw material, In March 2009, ACCIONA opened its second increased its production capacity from 26,000 During the year, ACCIONA divested its stake biodiesel plant, located in Bilbao Port (Basque metric tons to 33,000 metric tons to meet in Nantong Casc Wanyuan ACCIONA Wind Country), with an annual production capacity demand for bioethanol, which can be blended Turbine Manufacture Corp., which manufactures of 200,000 metric tons. The facility uses refined with gasoline or used as a gasoline substitute. wind turbine generators in China. ACCIONA raw canola, soy and palm oils to produce Windpower agreed to set up a new company biodiesel and glycerine. The biodiesel plant is in China to provide services to the wind farms located at a mill owned by Bunge, which has a installed and using this wind turbine generator 20% stake. technology (250 MW) and to approve local suppliers of wind generator spare parts. The plant’s total production in 2009 was supplied to Petronor (Repsol group) under In 2009, ACCIONA Windpower opened a a two-year agreement to acquire the entire wind turbine blade factory in Navarre (Spain) output. which will enable it to cover a substantial part of supply requirements for this essential component. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 72 acciona energy Acciona Annual Report 2009 // 73

EVENTS after YEAR-END

2010-2013 STRATEGIC PLAN Financial figures Investment totalling 3.9 billion euros has On 1 March 2010, ACCIONA unveiled its Revenues EBITDA been earmarked for the period covered by 2010–2013 Strategic Plan, which envisages (million euros) (million euros) the Plan (an annual average of 985 million 30% growth in revenues at the Energy 3,500 1,600 euros), of which 78% will be for wind power division, to reach 3.5 billion euros, and a 26% facilities, 20% for solar thermal plants and increase in EBITDA to 1.6 billion. 2% for other businesses.

In 2009, 79% of revenues came from power Installed capacity is expected to increase by generation and 21% from manufacturing 2,745 MW, of which: 629 and other businesses. In 2013, this ratio is 1,248 expected to be 64%:36%. 2,436 MW will be wind power facilities. CAGR: CAGR: 301 MW solar thermal facilities. +30% +26% 32 MW biomass plants.

2009 2013 2009 2013E However, cogeneration capacity will see a reduction of 24 MW.

WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 72 acciona energy Acciona Annual Report 2009 // 73

ACCIONA Energy will invest 237m euros in innovation for offshore wind power, offshore wind turbine generators and microalgae, among other promising new technologies

This would increase ACCIONA’s installed ACCIONA Energy will invest 237 million euros increase in installed capacity in 2010-2013 capacity from 7,437 MW in 2009 to 10,182 in innovation, including offshore wind power (MW) MW at 2013 year-end. initiatives, offshore wind turbines, second- 32 generation biofuels and microalgae, among 2,436 301 10,182 International capacity will account for 39% other promising new technologies. -24 of total installed capacity by the end of the period (24% in 2009), since just 11% of new The Strategic Plan also envisages that, during 39% INTERNATIONAL wind capacity envisaged for these four years the period it covers, ACCIONA Windpower 7,437 (265 MW) is earmarked for Spain, while 2,171 will supply 5.2 GW of 1.5 MW and 3 MW 24% INTERNATIONAL MW (89%) is earmarked for other countries. wind turbine generators; 44% of these will be for ACCIONA and 56% for third-party New installed capacity: 2,745 Mw Production will increase from 13.6 TWh customers. 76% Total investment: 3.9 billion euros 61% SPAIN SPAIN (thousands of GWh) in 2009 to 24.1 TWh in 2013 (a 1.8-fold increase). 2009 WIND SOLAR THERMAL BIOMASS COGENERATION 2013E WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 74 acciona energy Acciona Annual Report 2009 // 75

capacity and output, 2009 to 2013 company-owned installed capacity 306 MW AWARDED IN MEXICO 2013E 2009 A few days after the Strategic Plan was 83.8% WIND 85.1% presented, Mexico’s Federal Electricity 12.2% HYDROELECTRIC 9% Commission (CFE) notified ACCIONA 0.7% SOLAR PHOTOVOLTAIC 0.5% Energy that it had won the tender to 1.5% SOLAR THERMOELECTRIC 4.1% 0.4% BIOMASS 0.6% build three new wind farms (Oaxaca 1.4% COGENERATION 0.7% II, Oaxaca III and Oaxaca IV) with a combined installed capacity of 306 MW, to be completed in 2011.

This is a very significant initiative for the Company, since it consolidates TOTal 7.4 Gw 1.4 x Total 10.2 GW ACCIONA’s position in a strategic market, with assets located in a region Total output with considerable wind power potential. ACCIONA Windpower will supply the 204 2009 2013E wind turbine generators to be installed at 85.1% WIND 83.1% these wind farms. 7.7% HYDROELECTRIC 9.8% 0.7% SOLAR PHOTOVOLTAIC 0.3% 0.9% SOLAR THERMOELECTRIC 2.8% 1.2% BIOMASS 2.1% 4.4% COGENERATION 1.8%

TOTal 13.6 TwH (*) 1.8 x Total 24.1 TWh

* Includes only six months of output from acquired Endesa assets. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 acciona energy Acciona Annual Report 2009 // 74 acciona energy Acciona Annual Report 2009 // 75 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 76 Acciona AGUA Acciona Annual Report 2009 // 77

ACCIONA Agua ACCIONA Agua consolidated its position as a global leader, obtaining contracts in 2009 to build the largest water desalination and treatment plants in the world.

Pipeline: ACCIONA Agua designs, builds and operates The Company’s research efforts have plants for drinking water and wastewater led to 14 registered patents. Quality billion euros treatment, desalination and water reuse, and projects and a commitment to the 4.4 provides end-to-end water management environment are the mainstays of its Revenues: services. It serves over 50 million people in actions, which were recognised for the 20 countries. It ended 2009 with a backlog third consecutive year with an award by million euros (pipeline, or portfolio) of 4.4 billion euros Global Water Intelligence, one of the most 438 and revenues of 438 million euros. prestigious publications in the industry. Workforce: A commitment to innovation and cutting- ACCIONA Agua operates in three business edge technologies are the cornerstones of its areas: construction and management 2,080 business. ACCIONA Agua is a global leader of desalination plants; construction and in developing processes and technologies for management of drinking water, wastewater seawater desalination via reverse osmosis treatment and water reuse plants; and (RO) technology and in optimizing the end-to-end water management. energy performance of desalination plants. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 76 Acciona AGUA Acciona Annual Report 2009 // 77

DESALINATION ACCIONA Agua has designed and built more The world’s largest than 70 desalination plants worldwide, desalination plant serving over six million people. It operates in Spain, the US, Australia, the UK, Italy, Peru, Cape Verde, Algeria and Venezuela. In 2009, the AdelaideAqua consortium, headed by ACCIONA Agua, was awarded the contract by the South Australian The main projects underway are as follows: government to double the capacity of the Port Stanvac At the end of 2008, Petróleos de Venezuela, (Adelaide) desalination plant. Total production will reach S.A. (PDVSA) chose ACCIONA Agua to 300,000 m3/day, making it the world’s largest desalination design and build Venezuela’s first RO plant under construction. It will supply half a million people, i.e. desalination plant. It will be one of the half of Adelaide’s population. Investment is expected to total largest desalination plants in Latin America, AUD1.8 billion and the plant is scheduled to open in December with a production capacity of 75,000 m3/ 2011. The consortium also includes United Utilities, McConnell day. The project is in the execution phase. Dowell and Abigroup.

The 120,000 m3/day Fouka desalination plant in Algeria will be operational in Spring 2010. The desalination plant in Beckton (UK) passed drinking water production tests with flying colours and will be inaugurated in June 2010. This venture was voted ‘Most Sustainable Project’ by Global Water Intelligence magazine. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 78 Acciona AGUA Acciona Annual Report 2009 // 79

ACCIONA Agua is close to completing a a period of 15 years. The installation of desalination plant in Torrevieja, Alicante cutting-edge technology will reduce the (Spain); it will be one of the largest in the plant’s energy consumption by 21%. ACCIONA Agua has world, with a capacity of 240,000 m3/ day. Construction commenced in 2007; Together with Aqualia, ACCIONA Agua was almost completed one seawater and brine mains are currently being awarded a 15-year O&M contract for a of the world’s largest installed under the streets of Torrevieja. desalination plant in Ibiza. In consortium desalination plants, in with Degrémont, ACCIONA Agua renewed Expansion of the Arucas-Moya (Gran Canaria, the contract to operate the San Pedro del Alicante (Spain) Spain) desalination plant was completed Pinatar II desalination plant in Murcia.. in June 2009, tripling production capacity. The plant will end supply problems in the area and meet water demand for agriculture. ACCIONA Agua will manage the plant for WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 78 Acciona AGUA Acciona Annual Report 2009 // 79

DRINKING WATER AND WASTEWATER management of sludge, waste and by- TREATMENT AND WATER REUSE products generated during water treatment. ACCIONA Agua ACCIONA Agua has built over 110 drinking to build the world’s water treatment plants (DWTPs) and In 2009, ACCIONA Agua opened a drinking over 300 wastewater treatment plants water treatment plant in Lepe (Huelva), largest wastewater (WWTPs) worldwide. Most of these which serves 100,000 people year-round treatment plant facilities, concentrated in Spain, Portugal, and up to 300,000 during summer; it Italy, China and Puerto Rico, are managed also opened a WWTP in Cerro de Águila and maintained by ACCIONA Agua. (Málaga), which serves 240,000 people. The Mexican government’s National The company also obtained important Water Commission (Conagua) awarded The keys to plant management are contracts to build WWTPs and to an ACCIONA Agua-led consortium the efficiency and minimal energy consumption, operate and maintain a range of contract to build the largest WWTP in which lead to longer useful lives with facilities, significantly expanding the world. The plant will cost almost minimal operating costs. ACCIONA its pipeline. The following is a list 500 million euros and will treat the Agua also ensures proper environmental of major construction projects: wastewater of 10.5 million people. The plant will be able to handle an average of 35 m3/second and up to 50 m3/ second, including the final evacuation of solid waste and sludge. It will use a biogas-fuelled cogeneration system, allowing for maximum energy savings. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 80 Acciona AGUA Acciona Annual Report 2009 // 81

Spain’s Cantabrian Hydrographic treatment in the Pyrenees (Zone P1), in the awarded ACCIONA Agua a build-and- Confederation (CHC) awarded ACCIONA environs of the Aragon River. The contract operate contract for an 86,400 m3/ Agua the contract to design and build includes building 57 WWTPs grouped into day drinking water plant in the province the River Gafo WWTP, designed to serve 35 sectors and operating them for 20 years. of Peravia. The project includes the a population equivalent of 56,105. The construction of a 17.5 km supply main construction budget is 16 million euros In the Basque Country, ACCIONA and the water distribution network. and the work has to be completed within Agua was chosen to build the tertiary 24 months. The plant will make the treatment facilities at the 100,000m3/ ACCIONA Agua obtained the middle and upper reaches of the Nalon day Crispijana (Vitoria) WTP. Tertiary following O&M contracts: River navigable for fish swimming upriver, treatment will serve two purposes: in enabling salmon to complete their life cycle winter it will handle stormwater, and, in BRAZIL. ACCIONA Agua has been chosen and completing the restoration of the river. summer, it will provide tertiary processing by COPASA (the public-private partnership of the plant’s output, part of which will in charge of managing water supply and Also in Spain, Aragon Water Institute be reused (around 60,000 m3/day) to sewage networks in Minas Gerais, Brazil’s awarded ACCIONA Agua and COMSA water gardens and for cleaning purposes. second-largest state) to provide technical Medio Ambiente, S.A. (in consortium) the assistance and maintenance of the sewage contract to design, build and operate public The Dominican Republic’s national treatment plant in Arrudas (Sabará). The infrastructure required for wastewater water and sewage authority, INAPA, plant’s processing capacity is 4.5 m3 per WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 80 Acciona AGUA Acciona Annual Report 2009 // 81

ACCIONA Agua expanded its pipeline considerably in Spain and other second, enough to serve a population of Agua, in consortium with Italian company 1.6 million people. ACCIONA Agua will Abulia, obtained a six-million-euro, 15- countries in 2009 provide technology transfer for four years, month contract for the maintenance during which time O&M of the plant will and upkeep of the end-to-end water focus on environmental sustainability. service and new sewer mains in Cagliari.

ITALY. Abbanoa SpA, Sardinia’s government-owned water management SPAIN. EMASESA, Seville’s water and company, awarded ACCIONA the contract sewage company, awarded ACCIONA Agua to operate 16 drinking water treatment a 5.5 million euro O&M contract for the plants in various towns throughout the Copero WWTP in Dos Hermanos and the island, with a total flow rate of 135,829 pumping stations in Alcalá de Guadaíra m3 per day. ACCIONA Agua will also (Seville). The two-year contract may be operate 8 WWTPs and 23 pumping extended for an additional two years. stations, and another batch of 22 WWTPs and 35 pumping stations, serving almost 200,000 people for one year (with the possibility of an extension). ACCIONA WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 82 Acciona AGUA Acciona Annual Report 2009 // 83

The Copero wastewater treatment The Regional Council of Conca de Córdoba’s provincial water company plant, the largest of its kind in Seville, Barberà (Tarragona) awarded ACCIONA awarded ACCIONA Agua a contract to has a rated capacity of 255,000 m3. Agua (in consortium with SAV-DAM) an operate and maintain the transfer pipes, O&M contract for the WWTP and sewers pumping stations and WWTPs in the The Water Institute of Aragón awarded in Montblanc, Santa Coloma de Queralt, municipalities of Aguilar de la Frontera, ACCIONA Agua a contract to operate and L’Espluga de Francolí and Senan, and Cabra, Fernán Nuñez and Montemayor. maintain WWTPs in Zaragoza province, the network of mains in Vimbodí, Poblet The contract is worth 1,029,003 euros. specifically in Calatayud (8,000 3m / and Las Masías. The plants will process The plants will process 35,000 m3/ day) and Carramolina (160 m3/day). 5,000 m3/day and serve 17,000 people. day and serve 85,000 people. The contract is for three years, with a possible three-year extension. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 82 Acciona AGUA Acciona Annual Report 2009 // 83

ACCIONA Agua The Catalonian Water Agency awarded END-TO-END MANAGEMENT will operate and ACCIONA Agua the contract to operate SERVICES and maintain the facility for efficient ACCIONA Agua meets cities’ water supply maintain five thermal treatment of sludge at the Rubí needs by providing end-to-end water wastewater treatment WWTP (Barcelona). The facility has a management services. This includes gross plants in Spain thermal drying system which can produce water intake, potabilization, maintenance three metric tons of evaporated water/ and control of reservoirs, management of hour; and a cogeneration plant with an distribution networks and billing of end users. installed capacity of 6,130 kW. The facility More than 1.6 million users in 60 towns will treat 21,000 metric tons of sludge/ across Spain benefit from ACCIONA Agua’s year and generate 41,300,000 kWh/year. end-to-end water management services. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 84 Acciona AGUA Acciona Annual Report 2009 // 85

ACCIONA Agua meets cities’ water supply needs by The Company has a network of laboratories Renewal of the end-to-end water providing end-to-end to control water quality and ensure it is in supply management contract in Soria, water management peak condition for human consumption. worth 10 million euros. It includes intake, services In 2009, ACCIONA Agua obtained the potabilization, drinking water distribution, following contracts: customer management, sewage networks and wastewater treatment. ACCIONA Agua Construction of facilities and provision has been operating in Soria since 1993. of end-to-end water management services for 36 years in ten residential complexes in Andratx (Mallorca), serving 5,000 people. Investment will total 44 million euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona AGUA Acciona Annual Report 2009 // 84 Acciona AGUA Acciona Annual Report 2009 // 85

ACCIONA Agua participates actively in the dissemination OTHER ACTIVITIES on water”, a programme designed to inform ACCIONA Agua has been very active young people about reusing water, reducing and teaching of all in initiatives related to sustainability, consumption and minimizing household issues related to water sponsorship, participation in forums and water contamination. The programme treatment conferences, training and awareness-raising included information on water treatment campaigns in all areas related to water and desalination. treatment. The following events and actions stood out in particular in 2009: Sustainability Workshop. ACCIONA Agua provides schools in Spain with a set Water Week in Andratx (Balearic Isles, of learning materials designed to instil Spain). ACCIONA Agua, together with environmental values and contribute to a Andratx City Council, implemented more sustainable world. “Environmental awareness and education WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 86 Acciona REAL ESTATE Acciona Annual Report 2009 // 87

ACCIONA Real Estate ACCIONA Real Estate revenues remained steady thanks to the Company’s extensive experience in the industry, prudent management and clients’ confidence.

The global economic downturn hit hard in competition to an extraordinarily complex 2009, making itself felt in the real estate market situation. Against this competitive segment, especially in Spain. The year was backdrop, ACCIONA Real Estate ended marked by a decline in home prices, a 2009 with 268 million euros in revenues, credit crunch and the impairment of real 75% of which came from real estate estate asset values, all of which reduced development. Rental and sales of assets buyer confidence and left a negative mark under management accounted for 17% on industry activity. Banks’ entry into the and the car park business for 8%. real estate segment, with large portfolios of foreclosed homes, added more WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 86 Acciona REAL ESTATE Acciona Annual Report 2009 // 87

ACCIONA Real Estate builds applying eco-efficiency principles, which allow for energy and water savings

1. REAL ESTATE DEVELOPMENT Residential in Spain The Company delivered: 44 homes in In 2009, the Company delivered 876 The market responded positively to the Las Hortensias residential complex homes, 49% of which were outside ACCIONA’s “Acciónate!!” advertising (La Coruña); 39 in Ensanche de Vallecas Spain. Net unit sales (i.e. actual sales less campaign in mid-2009. The Company (Madrid); 33 in Les Roselles de Sant Antoni cancellations) amounted to 461, i.e. twice offered a discount on its residential de Calonge (Gerona); 26 in Los Pelícanos last year’s figure. properties in Spain as well as payment (Alicante); 21 in Los Milanos (Valterna); protection insurance. ACCIONA Real Estate and 17 in Phase V of Son Parera (Palma de Significant events during the year in the actively participated in housing fairs which, Mallorca). The eco-efficient design of homes various business areas were as follows: in the current context, focused primarily on in Son Parera will allow for energy savings selling assets in portfolio. of around 3,300 MWh and 84,000 m3 of water during their entire life cycle. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 88 Acciona REAL ESTATE Acciona Annual Report 2009 // 89

ACCIONA’s Inmobiliaria Parque Reforma received the ESR award for exemplary social policy in Latin America

Seventy-one homes were sold in Madrid International Residential In Mexico, the ACCIONA Real Estate and Guadalajara through corporate In Poland, the Company delivered the subsidiary, Inmobiliaria Parque Reforma, transactions. Site development was third phase of two residential complexes: received the ESR (Empresa Socialmente completed in 2009 at the Los Tilos Iskra, with 137 homes, and Lesne V, Responsable) award in recognition of its residential complex in Sanxenxo with 101. The latter was awarded the exemplary CSR policies in Latin America. (Pontevedra), where 200 apartments European Medal for its integration with The Company’s Cumbres de Santa Fe and single-family homes will be built. the landscape and the eco-efficiency complex in Mexico City and Playa Mar Tres Construction continues on the Ópalo standards to which it was built. In Warsaw, Cantos complex in Acapulco performed Building, with 144 residential units, commercialization of 136 homes in very well during the year. Parque Reforma located in Madrid’s Retiro district, Phase 1 of Atmosphera Apartamenty, in was viewed as a safe haven by Mexican and on the Magnolia Golf Resort, a Wilanów, began. ACCIONA Real Estate buyers and investors in 2009 due to its 120-apartment complex with a golf course has developed a total of 12 residential strong brand image, compliance with beside the nature reserve in La Caleta, complexes in Warsaw since 2004. delivery deadlines, excellent customer Tenerife. Both projects are slated for The delivery of the Panska complex is service and support from ACCIONA completion in 2010. scheduled for 2010. Real Estate. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 88 Acciona REAL ESTATE Acciona Annual Report 2009 // 89

2. RENTAL At the time of going to print, the Company Real estate rentals in 2009 provided 45 had completed construction of the Splau! million euros in revenues. Significant shopping centre in Cornellà de Llobregat events during the year in the various (Barcelona), opened in May 2010. Splau! business areas were as follows: offers 54,500 m2 of rentable area, 2,800 ACCIONA Real Estate has more than parking spaces, and multiple leisure options 168,000 m2 in rental office space; the such as an18-screen Cineplex, as well as occupancy rate was 88% in 2009. At the end restaurants, stores and a supermarket. of the year, it completed the sale of two office The Company’s university halls of residence buildings: Edificio Alameda, in Valencia, and in Albacete, Cádiz, Castellón, Lérida and Golf Park, in Madrid. These transactions are Murcia had an occupancy rate of 81% at part of the Company’s strategy to divest and year-end. rotate mature non-core assets with a view to ACCIONA Real Estate continued focusing on up-and-coming business areas. operating the three hotels it owns: the Urbanizadora del Coto, owned 50% by 4-star Condal Mar Hotel (178 rooms); ACCIONA Real Estate, put one of the the luxury 5-star Estrella del Mar Hotel developments in its rental portfolio in (133 rooms); and the Club Marítimo Hotel Parque Conde de Orgaz (Madrid) up for sale. in Sotogrande. The Company directly Urbanizadora del Coto has around 1,000 manages the latter, whereas it is purely homes for rent with an occupancy rate of the owner of the former two. 89% at 2009 year-end. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 90 Acciona REAL ESTATE Acciona Annual Report 2009 // 91

3. CAR PARKS 4. OUR COMMITMENT TO the project in the Bright Green Expo at the ACCIONA Real Estate has 27 car parks SUSTAINABILITY Copenhagen Summit in December 2009. in Spain, Brazil and Andorra. Car park ACCIONA Real Estate maintained its management generated revenues of 22.7 environmental education programme The above-mentioned international million euros, on a par with last year’s figure. in all areas of its activity with a view to distinctions in sustainability awarded The number of parking spaces declined in familiarizing children with the concept to real estate projects in Poland and the year due to the transfer of management of sustainability and teaching them Mexico underscore ACCIONA Real Estate’s contracts to the concession companies for appropriate habits. The Company sought firm commitment to society and the the car parks at the Miradero (Toledo) and to focus on sustainability in daily activities environment in all of its activities and the Infanta Sofía Hospital (San Sebastián de los and encourage reflection upon, and markets where it operates. Reyes, Madrid). At year-end, parking spaces teaching methods for, responsible resource under management totalled 16,823. consumption.

Construction of car parks in Murcia and in The Company is also participating in the Rubí (Barcelona) continued in 2009 and is EU-wide “Clear-up” project, which aims expected to conclude in 2010. to reduce energy consumption in the real estate segment. The Company showcased WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona REAL ESTATE Acciona Annual Report 2009 // 90 Acciona REAL ESTATE Acciona Annual Report 2009 // 91

5. ASSET VALUATION According to appraisals by various independent valuers, the gross asset ACCIONA Real value of real estate assets, developments, Estate seeks to investment properties and fixed assets familiarize children totalled 2.168 billion euros at 31 December 2009 (2009 prices), with the concept of broken down as follows: sustainability and teach them to make Inventories: 1.297 billion euros. Investment properties: 606 million euros. it a habit Fixed assets: 265 million euros. Total 2.168 billion euros.

Unrealized capital gains before taxes at 2009 year-end amounted to 216 million euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 92 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 93

ACCIONA Logistics & Transport Services This division delivers sustainable mobility solutions for people and freight by sea, land and air.

Revenues for ACCIONA Logistics &

Transport Services ACCIONA Logistics & Transport ACCIONA TRASMEDITERRANEA came to Services offers end-to-end sustainable The crisis in 2009 notably reduced passenger mobility solutions for passenger and and freight traffic handled by ACCIONA million cargo transport by land, sea and air. It Trasmediterranea. To weather this situation, 811 operates via specialized companies in the Company implemented a plan to adapt its euros in 2009 very specific markets, such as ACCIONA services offer to market demand. The initiative Trasmediterranea, ACCIONA Logistics, was a success: while the market registered ACCIONA Airport Services, ACCIONA a 15% decline in revenues, ACCIONA Forwarding, ACCIONA Rail Services and Trasmediterranea revenues declined by just ACCIONA Interpress. 6.4%, to 544 million euros. EBITDA totalled In 2009, this division’s revenues totalled 65 million euros (up 59 million on 2008). 811 million euros. In 2009, the Company executed the plan to upgrade its fleet and seven ferries - four high- speed, two combined passenger/cargo and one cargo vessel - went up for sale. At the end of WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 92 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 93

the year, the two combined passenger/cargo of cargo. In the South Strait Zone, the figures In the framework of the Spanish- ferries had been sold; they were the Company’s were 2,790,906 passengers, 613,706 vehicles French summit held in Madrid, ACCIONA last Canguro class vessels. and 1,438,197 linear metres of cargo. On Trasmediterranea was awarded the Atlantic the Canary Islands route, the Company short-sea shipping route linking Algeciras, ACCIONA Trasmediterranea operated 25 ships transported 31,885 passengers, 16,656 Vigo, Nantes and Le Havre. in 2009: 16 of its own ships (4 high-speed, vehicles and 1,107,277 linear metres of cargo. On 25 May, the Company opened 3 cargo, 9 combined passenger/cargo) and And in the North Zone, it carried 444,543 a new ferry terminal in Barcelona, 9 chartered ships (4 combined passenger/ linear metres of cargo. In January 2009, the operated by ACCIONA Trasmediterranea cargo and 5 cargo). The vessels sailed a total of Extraordinary Shareholders’ Meeting approved under a concession contract until 2029. 1,521,988 nautical miles. a 110-million-euro capital increase, which was Modernization and adaptation of the fully subscribed and paid up. ACCIONA’s stake terminal cost over 35 million euros. The In 2009, the Company carried 3.3 million in the shipping company increased from 60% terminal covers 150,000 m2 and has 1,077 passengers, 78,146 vehicles and 5,877,351 to 80%. metres of quay for five vessels to dock linear metres of cargo. In the Mediterranean, simultaneously, a ferry terminal, parking the Company carried 524,165 passengers, The most significant activities of ACCIONA facilities, and machinery for freight handling. 147,784 vehicles and 2,887,334 linear metres Trasmediterranea in 2009 were as follows: WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 94 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 95

In 2009, Barcelona’s ferry terminal served cooperation with Air Europa, the Company by the EU’s Seventh Framework R&D Italian shipping companies GNV and offered customers the option of travelling Programme. Grimaldi Lines and Algeria’s ENTMV, as well by plane while shipping their vehicles on the ACCIONA Trasmediterranea is participating as ACCIONA Trasmediterranea traffic with ferry to Cádiz or Barcelona. in two other projects under the Framework the Balearic and Canary Islands and Morocco. The Company allocated 12 vessels to Programme: POSMETRANS, aimed at The terminal handled 140,000 new vehicles Operation Strait of Gibraltar, with 2.5 million adopting innovative technologies and in the year, ranking it second in terms of spaces for passengers travelling each way processes in transport, and SILENV, which volume in the Port of Barcelona, ahead of and 6,000 journeys. seeks to reduce ship-related noise and other terminals dedicated exclusively to In September 2009, the first meetings vibrations. vehicle movement. in the EU-CargoXpress project, led by As from November, the Company ACCIONA Trasmediterranea is the first ACCIONA Trasmediterranea, were held on expanded into Germany’s travel market shipping company to obtain “Quality board the ferry Sorolla. The project aims to with unrestricted commercialization of its of services for shipping companies” build a catamaran-style container ship which products throughout the country’s sales certification, envisaged in Spain’s Ports Act. uses new forms of alternative energies, network. Germany’s leading boat trip For the first time, the plane+ferry offer has low fuel consumption and is built with travel agents, The Travel Gateway and Voigt between the Canary Islands and mainland composites and aluminium for lighter Seereisen Agentur, were the first to sign up. Spain was expanded to include Barcelona. In weight. The three-year project is financed WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 94 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 95

ACCIONA Trasmediterranea revenues were 8.6% over the industry average, ACCIONA LOGISTICS In December, ACCIONA Logistics despite the recession The core business of ACCIONA Logistics is participated in Sifel, the leading agricultural goods storage and distribution. It has its own trade fair in Morocco, held in Agadir. The fleet of 2,100 trailers, 3,000 containers, a Company presented new features to be network of 15 warehouses spanning implemented in 2010 to increase and 100,000 m2 including 150,000 m3 of facilitate transport of fruit and vegetables temperature-controlled facilities. It also owns between Morocco and Europe; a new 600,000 m2 of port facilities. The Company Barcelona-Tangier route for passengers and operates across mainland Spain, in the freight and the addition of a Ro-Ro ship Balearic and Canary Islands, Morocco and (the “José María Entrecanales”) on the Europe (primarily in France, Italy, Germany, Agadir-Barcelona route. Belgium and the UK). Subsidiary Hermes Logística became the At the end of 2009, the Company opened a frozen products distributor for all of the new logistics centre in Las Palmas on Gran outlets of the Dinosol supermarket chain. Canaria, through which the Company has become the leader in the Canary Islands in end-to-end logistics in three temperatures: frozen, refrigerated and conventional. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 96 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 97

ACCIONA AIRPORT SERVICES 2009, ACCIONA Airport Services was less This Company provides airport services and affected than its rivals by the industry’s weak is one of the leading independent handling performance. It provided ramp services for operators in Spain and Germany. In 2009, it 111,000 flights (6% less than in 2008, but operated in 11 airports, serving around 235 still a very positive figure considering that clients. With 17 years of experience behind air traffic declined by 10.4% in Spain and by it, the Company is able to meet the needs 7.1% in Germany). Of those, 38,150 were of its customers with a youthful, dynamic in Spain, specifically in Palma de Mallorca, spirit and a commitment to growth based on Mahón and Ibiza airports; the other 72,850 quality of service, security and innovation in were in Germany’s Frankfurt, Berlin-Tegel, its handing processes. Berlin-Schönefeld and Hamburg airports.

ACCIONA Airport Services provides services In 2009, 187,350,000 passengers used tailored to airlines’ individual needs. Spain’s airport network, which is managed Operating independently of airports and by AENA (8.1% less than in 2008) and airlines allows for considerable flexibility 182,175,000 passengers used Germany’s and resource optimization in adapting to airports (4.6% less). the needs of each airline. As a result, in WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 96 Acciona LoGISTICS & TRANSPORT SERVICES Acciona Annual Report 2009 // 97

ACCIONA Forwarding ACCIONA Rail Services ACCIONA Interpress The Company offers tailored solutions for This Company is specialized in rail freight In addition to daily press distribution, in all logistics needs, from freight collection to transport. It faced difficult times in 2009 due 2009, the Company landed contracts to packaging, storage, and worldwide delivery, to the global economic crisis. Rail transport deliver all magazines distributed throughout using the most appropriate transport of coal was down by 40% owing to reduced Spain and 100% in Catalonia, Andalusia method. consumption for power generation. and Madrid.

The Company significantly increased its Together with Gas Natural-Unión Fenosa, international footprint in 2009, opening ACCIONA Rail Services has negotiated new offices in various countries, in line the electrification of the La Robla thermal with ACCIONA’s Strategic Plan. Some of power plant’s rail siding, so as to replace its international offices strengthened the diesel locomotives with electric ones for Company’s leading position, such as the transporting imported coal from the port of

office in Chile, which beat fruit export Gijón. This will further reduce CO2 emissions. records in December, delivering 1,800,000 ACCIONA Rail Services has joined a kilogrammes worldwide. Indra hired committee created by Spain’s Infrastructure ACCIONA Forwarding in 2009 to send large Ministry to promote rail freight transport. volumes of special cargo by air to Rwanda and Kazakhstan. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 98 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 99

ACCIONA Urban & Environmental Services ACCIONA’s highly-specialized, flexible solutions provide public and private clients with efficient, competitive services.

ACCIONA Urban and Environmental ACCIONA Facility Services Services handles outsourced ancillary ACCIONA Facility Services delivers services, street cleaning and waste end-to-end solutions for ancillary service collection, construction and maintenance design, management and operation, of green areas, and security services. enabling clients to focus on core business. It operates via four independent, Tailored offerings and the resulting specialized companies: ACCIONA synergies help clients trim costs, optimize Facility Services, ACCIONA Urban facilities and enhance competitiveness. Services, ACCIONA Environment and ACCIONA Security Systems. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 98 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 99

ACCIONA Facility Services provides comprehensive tailor-made ancillary services

Ancillary service outsourcing by companies clients, who have worked with the Company methodology based on best practices in and institutions is a growing market, as is the for 10 years on average. ACCIONA Facility sustainability propounded by international trend to hire a one-stop shop to provide all Services was also the first company in its organizations such as the US Green ancillary services. ACCIONA Facility Services sector in Spain to obtain ISO 9002, ISO Building Council, ISSA, the Environmental has taken advantage of the favourable 14001, OHSAS and SA8000 certification. Protection Agency, Green Seal, and the business environment and currently offers BRE Environmental Assessment Method. bespoke end-to-end services to its clients. ACCIONA Facility Services is staunchly committed to sustainability. The In 2009, the Company signed contracts The Company’s commitment to quality Company created an environmentally- with major public and private sector clients is one of the keys to its success and the friendly cleaning service, ACCIONA Green in Spain and abroad. They include the: reason behind the continued trust of its Cleaning, which employs a proprietary WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 100 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 101

Contract with Alstom Transporte to provide Provision of soft services at the Royal the following services at the Santa Perpètua Jubilee Hospital in Victoria, British Columbia, New clients de Mogoda factory in Barcelona: logistics and Canada, in cooperation with ACCIONA operations, technical maintenance, industrial Infrastructure, which is responsible for the in 2009 production maintenance, general facilities hospital’s construction. ACCIONA Facility maintenance, technical cleaning, waste Services is the first Spanish company to collection and removal, and facility cleaning. participate in a public-private partnership Alstom Contract with the Navieras del (PPP) in Canada. The Group’s strong foothold Caladero Norte shipping company to provide in Canada provides ACCIONA Facility Services GAES the following services: naval shipyard with an opportunity to expand abroad. Grupo Generali cleaning, facility maintenance, smart Navieras del Norte warehouse logistics, transport logistics and OEPM (Spanish Patent and Trademark procurement of ship-building materials. Office) Portucel Prosegur WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 100 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 101

ACCIONA URBAN SERVICES ACCIONA ENVIRONMENT ACCIONA Environment organizes and This Company’s core business is This Company is specialized in the deploys temporary teams from bases municipal solid waste (MSW) collection design, construction and maintenance in Paiporta (Valencia), Madrid, Abrera and treatment. It also provides street of green areas and parks. It serves local, (Barcelona), Zaragoza, Valladolid, León, cleaning, street furniture maintenance, provincial and regional governments, Mérida (Badajoz), Seville and Orense. This beach cleaning, coast maintenance and central government agencies, government enables the Company to operate anywhere management of recycling centres and entities and private companies. in Spain. Headquarters are located in Madrid waste transfer stations. It operates in many (Management and Human Resources) and in locations on the Mediterranean coast. In 2009, the Company’s revenues Valencia (Administration, Studies, Contracts came to 34.6 million euros, half of and Landscaping). In 2009, the Company extended which is attributable to gardening and major contracts in Águilas (Murcia), landscaping work. Maintenance of ACCIONA Environment’s most important Torrevieja (Alicante) and the urban green areas accounted for 23% new contracts in 2009 were: Montsià district (Tarragona). of revenues, environmental projects for 17%, and forestry work for 10%. New contracts in the year amounted to 50.2 million euros, and the pipeline at the year’s end was 41 million euros. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 102 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 103

Environmental services generated revenues of Gardening and civil works for city and Palencia, and by the Environment million governments under the State Fund for Departments in Andalusia and Castile and 34.6 Local Investment (FEIL) in La Campana León, valued at 6.7 million euros in total. euros in 2009 (Seville), Getafe (Madrid) and León, worth 6.7 million euros. The Company has an average of 400 direct Other municipal works awarded by city employees, 44 of whom are management authorities and local government agencies in and technical personnel; the remainder are Barcelona and L’Eliana (Valencia), worth 1.8 administrative and manual workers. The million euros. average workforce in joint ventures was 120 Municipal maintenance and related employees, all of whom were administrative public services in León (joint venture with or manual workers. ACCIONA Infrastructure and ACCIONA Facility Services), L’Eliana (Valencia), and At the end of 2009, the Company changed Barcelona, and private services in Banco the name of Medio Ambiente Dalmau, Santander’s ‘Financial City’ complex in S.A. to ACCIONA Medio Ambiente, S.A., Madrid and for Endesa in Catalonia; these aligning its legal name with the ‘ACCIONA contracts, which range from two to four Environment’ brand, under which it has years, are worth a total of 35.5 million euros. operated for the last two years. Forestry works awarded by agencies of the Ministry of the Environment and Rural and Marine Affairs in Toledo, Cartagena WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 102 Acciona URBAN & ENVIRONMENTAL SERVICES Acciona Annual Report 2009 // 103

ACCIONA SECURITY SYSTEMS After 27 years in the industry, ACCIONA Certifications Security Systems has become one of the most renowned companies in the fields of Security and Fire Protection in Directorate-General of Police, number 352. Spain and overseas, due to the top-flight AENOR quality and environment certification. services it provides to its customers. Register of companies at the Directorate-General of Armaments (Ministry of Defence). The Company delivers the following Official register of suppliers to the Government. services: design and implementation of Official register of companies in the Madrid region as a fire safety and protection schemes, installations, protection installation and maintenance company. maintenance, and alarm systems. Adif general register of suppliers. RENFE general register. Clients in 2009 in Spain included: the Achilles procurement centres. Vandellòs and Cofrentes nuclear power ProTrans procurement centre. plants, Madrid Regional Government, the Cepreven procurement centre. Administrator of Railway Infrastructure Audelco workplace health and safety certification. (Adif), the Spanish airports authority (AENA), the Ministry of Infrastructure, the Ministry of Foreign Affairs, the Prado Museum, the Spanish Mint, the Universal Exposition of Seville, the Andalusia Regional Government, the Ministry of Defence, and Barcelona’s Maremagnum shopping centre. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 104 other businesses Acciona Annual Report 2009 // 105

other businesses

In addition to its main business areas, In 2009, assets managed by Bestinver rose ACCIONA owns companies which operate 69% to 4.044 billion euros, due primarily in a range of sectors: Bestinver, financial to the positive yield on the funds and the services; Hijos de Antonio Barceló, wine; and net inflow of customer assets. However, General de Producciones y Diseño (GPD), compared with 2009, revenues declined events and exhibition organization. 27% to 45 million euros, and EBT fell 32% to 32 million euros. The number of Bestinver investors remained stable at around 44,800. Bestinver is a financial services firm specialized in asset management via Bestinver operated against a backdrop of an mutual and pension funds and SICAVs. It adverse market situation throughout 2009, operates through subsidiaries Bestinver caused by the poor state of bank balance Gestión and Bestinver Pensiones, as sheets due to the impairment of real estate well as broker-dealer Bestinver S.V. assets; equities were practically the only WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 104 other businesses Acciona Annual Report 2009 // 105

In 2009, assets managed by Bestinver expanded 69% to 4.044 billion euros

source of liquidity. The measures adopted by but that it would do so sooner or later. authorities, although debatable in the long The market may be inefficient in the short term, stabilized the system; as a result, risk term, but it tends to be efficient in the long perception gradually declined and investor term. This is the main premise upon which confidence returned to equities. As a result, Bestinver’s investment strategy is based. 2009 closed with large gains. China played a significant role in the recovery: its imports The company’s main fund, Bestinfond, hit a record high in December, while exports had a yield of 60% in 2009, of were just 4.4% lower than the 2008 peak. 1,400% accumulated since 1993, The relative performance of the Bestinver and of 17% on average per year. portfolio with respect to the rest of the market confirms the analysis (adopted Bestinfond remained stable throughout the during times of sharp losses in equities) year, with an international/Spanish equities that the market was not discriminating weighting of 70/30. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 106 other businesses Acciona Annual Report 2009 // 107

A new approach was applied in 2009: Looking to the future, the Company is giving priority to better quality companies in an ideal position. The SICAV merger to increase the portfolio’s defensive in 2008, Spain’s largest to date, ended bias, even sacrificing gains to a certain the year with assets amounting to 152 extent. The fourth quarter marked a million euros and 400 investors. In 2009, return to value creation despite the Bestinver expanded its Shanghai office, continued focus on quality as a priority. which analyzes the situation in China and Following these improvements, it is unlikely aims to determine if growth is sustainable; that the fund will suffer declines like if so, the Asian giant will be a major those of the recent crisis, even if strong opportunity in the next two decades. pessimism and minimum liquidity in the markets were to return to the scene. Bestinver’s success in 2009 was recognized once again: it received Bestinver has used the crisis to improve 18 awards for management excellence. notably commercial and administrative Over the last 16 years, the Company management areas that might otherwise has obtained 75 awards for financial have been overwhelmed by the sharp post- management performance. crisis increase in assets under management. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 106 other businesses Acciona Annual Report 2009 // 107

One of Hijos de Antonio Barceló’s main focuses has been international expansion, which enabled it to

Hijos de Antonio Barceló The Company was impacted by the difficult maintain its export Hijos de Antonio Barceló, S.A. is a wine situation and reported an overall decline of business in company comprising of five wineries 9.2% in sales volume. Export figures, which located in Spain’s most emblematic and were on a par with the 2008 figure, evidence prestigious wine regions. It produces, the appropriateness of the strategy in recent 2009 ages and commercializes quality wines, years, in which expansion abroad has been a and has a strong position in the Spanish fundamental component. Hijos de Antonio market and a growing footprint abroad. Barceló’s wide range of distinct wines and brands puts it in an excellent position to The extremely adverse economic situation weather difficult economic times and begin in 2009 led to a sharp decline in wine to grow again. The Company has an appealing consumption, especially quality wines. and distinctive catalogue of products, with The global situation affected Spanish wine an extensive range of wines and brands. This exports, which declined by almost 14%. provides the Company with the flexibility The most prestigious Designations of Origin, to adapt to the diverse markets it serves. such as Rioja, registered declines throughout Its five lines of business focus the wine range: specifically, crianzas, -6.1%, upon the following wineries: reservas, -15.8%, and gran reservas -23.5%. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 108 other businesses Acciona Annual Report 2009 // 109

Bodegas Viña Mayor, in D.O. Ribera del brand. Despite this business line’s relative Duero (Valladolid), produces top-flight youth, it has a very promising future. The Company’s strategy red wines which are highly profitable This bodega produces wines under the and have great growth potential. Their category of Vino de la Tierra de Castilla and values can be popularity in Spain and abroad has made y León, with brands such as Peñascal summarized as follows: Bodegas Viña Mayor one of the most Estate and Storks’ Tower, which have prestigious wineries in this region. gained considerable prestige in other Bodegas Palacio, in D.O.C. Rioja, produces countries, such as the US and the UK. brands such as Cosme Palacio and Glorioso Bodegas Peñascal, located in Laguna de To develop a wide-ranging portfolio of wines from Spain’s most for the quality red wine segment. Duero (Valladolid), is Spain’s undisputed prestigious regions which can adapt to changes in demand for Finca Caserío de Dueñas, in Villaverde leader in quality rosé wines. different categories and varieties. de Medina (Valladolid), is home to an Finca Anzil is one of the Group’s most To build brands which are leaders in their market segments, such impressive vineyard spanning almost 300 recent ventures; it is located in D.O. Toro as Cosme Palacio (Rioja), Viña Mayor (Ribera del Duero, Rueda hectares, where more than 50 hectares are and had almost 90 hectares of vineyard. and Toro) and Peñascal (rosé). dedicated to quality whites. This winery It sells top-of-the-line red wines under To continue expanding internationally, selecting the markets produces wines covered in the D.O. Rueda, the Finca Anzil brand, as well as reds from with the greatest potential. which are also sold under the Viña Mayor DO Toro under the Viña Mayor brand. To provide the standards of quality demanded by the market by adopting a policy of vertical integration; this allows for control and optimization from the vineyard through to sales. To use cutting-edge technology in developing and launching new products, incorporating modern production and management techniques. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 other businesses Acciona Annual Report 2009 // 108 other businesses Acciona Annual Report 2009 // 109

General de Producciones y Diseño (GPD) obtained certification to ISO 9001 and ISO 14001 standards from AENOR for its quality and environmental management systems, respectively

General de Producciones 7,000 exhibits with graphics, audiovisuals y Diseño (GPD) and interactive presentations. The museum GPD is specialized in planning and carrying is to open at the end of May 2010. out museum exhibitions, events and shows Completion of themes for the 4,500 in all kinds of venues. The Company’s main m2 Kidzania Children’s Leisure Park in activities in 2009 were as follows: Lisbon, inaugurated on 1 June 2009. Completion of content for Caja Granada’s Content for the temporary exhibition, new “Memory of Andalusia” cultural centre. “From Byzantium to Istanbul: one The centre was inaugurated on 19 May port for two continents” at the Grand at a ceremony presided over by Their Palais in Paris, to be inaugurated Majesties, the King and Queen of Spain. in Istanbul on 28 May 2010. Completion of drafting of the Content for the Saudi Arabia museographic project for the “Navigation Pavilion at the 2010 World Expo in Ensemble” located on Cartuja Island (Seville). Shanghai, to start on 1 May 2010. Production and installation of the The Company also obtained certification permanent exhibition at the Toledo Alcázar to ISO 9001 and ISO 14001 standards from Spanish Army Museum, commissioned by the AENOR for its quality and environmental Ministry of Culture. It will show more than management systems, respectively. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 innovation Acciona Annual Report 2009 // 110

Innovation

ACCIONA’s R&D investment reached of that investment was concentrated record levels in 2009. Activities included in the Energy and Infrastructure revision of the R&D Strategic Plan divisions, which account for 90% of and closure of a financing deal with total innovation work. In 2009, 109 the European Investment Bank. research projects were implemented, grouped into 12 areas associated with Promotion efforts centred on R&D and ACCIONA’s businesses. The Company has Innovation boosted direct investment in a 377-strong team working on R&D and projects to 92.2 million euros. The bulk Innovation, 2.7% more than in 2008. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 innovation Acciona Annual Report 2009 // 111

ACCIONA is Europe’s sector leader in electricity and R&D expenditure (€m) 92.2 The Company optimized the industrial construction in terms property management model implemented of innovation intensity 71.3 in 2008, which continues to produce results. ACCIONA holds 18 patents 39 and has another 34 pending. 22.6 6.8 ACCIONA is the leader among European construction and electricity companies in 2005 2006 2007 2008 2009 terms of innovation intensity, according to a survey by KPMG based on data from the EU’s Research DG. The Company’s ongoing efforts and expenditure figures Distribution of R&D expenditure improved its ranking in the R&D European 2% 7% Industrial Scoreboard. ACCIONA currently ranks sixth in Spain in terms of R&D and 28% Innovation spending, and climbed nearly 100 places among European companies.

Currently engaged in 48 projects, ACCIONA

62% energy is the third-placed Spanish company in terms infrastructure of participation in the EU’s 7th Framework water others Programme, and heads the NMP (Nanotech, Manufacturing and Processes) Programme. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 innovation Acciona Annual Report 2009 // 112

ACCIONA takes part in 13 CENIT projects AENOR renewed certification of ACCIONA (four were awarded in 2009), more than Group’s R&D and Innovation management Principal applications any other Spanish company. These include: system, which ensures that all of the Group’s innovation activities are conducted of R&D and Innovation Efficient and intelligent technologies for to standards of excellence and quality. activities in 2009 health and comfort in building interiors. Sustainable Biorefinery - BIOSOS. In 2009, ACCIONA retained its stake in the Research and development of new Nth Power Fund IV, which focuses exclusively energy-generation technologies based on clean energy technology projects. Successful commissioning of the Company’s first 3 MW on thin-film photovoltaic cells - ATON. prototype wind generator, which will be produced with three OCEANLIDER - Renewable rotor diameters. The machine, built in late 2008, began marine technologies. producing electricity in 2009. Creation of the SEPAFLOC® and NITROREMOVAL® brands as a result of research into desalination and water reuse. Implementation of the new automated, flexible process for manufacturing girders using composite materials and measuring up to 32 metres: manufacturing time was reduced by 80% and costs by 40%. Expansion of the Caparroso (Navarre, Spain) microalgae plant, which started up in 2009, to one hectare by installing new photobioreactors to improve performance. WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 innovation Acciona Annual Report 2009 // 113 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 PUBLISHED BY: ACCIONA, S.A. Department of Communications and Corporate Image

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PRODUCTION: MRM Worldwide Spain, S.A.

LEGAL DEPOSIT: M-26523-2010 WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997 Avda. de Europa, 18 Parque Empresarial La Moraleja 28108 Alcobendas (Madrid). Spain www.acciona.com WorldReginfo - 7d25c2f9-fbfd-40cb-8ddb-5fa780aaf997