Prof. Fritz Vahrenholt CEO of RWE Innogy Rhyl Flats inauguration, 2 December 2009 Check against delivery! Ladies and Gentlemen, The inauguration of a big renewable power plant is always a great occasion for me. It represents the successful culmination of years of work by hundreds of people. We have tested, calculated, approved and made the sea accessible, we have laid cables, erected turbines, observed, monitored and plenty more besides. Most of you, ladies and gentlemen, have been involved. Each one of you, in your own way, has made an important contribution to the success of this wind farm. I think that is well worth celebrating. Let me therefore say a big thank you to everyone who very literally went against wind and tide to support, develop and build this wind farm. This year I will have the pleasure of inaugurating several power plants for RWE Innogy. As a renewable energy company, we are making a major contribution to reducing CO2 in the RWE portfolio when we open each new plant – and we are doing so across the whole of Europe. It is a satisfying task that provides our whole team with the tailwind to move forward at even greater speed. Only a few weeks ago we opened our first Polish onshore wind farm in Masuria. Another wind farm is following on the Atlantic coast of northern 1 France. We are also celebrating the expansion of a hydroelectric plant on the German-Swiss border – I will be travelling there the day after tomorrow. A biomass power plant will be completed shortly in Germany. And, to turn full circle, back to the British Isles, I would just like to mention Little Cheyne Court, the largest onshore wind farm in southern England, which we were able to open this summer with Ed Miliband. Ladies and Gentlemen, As you can see, RWE Innogy plays an important part in implementing the Group strategy, which can be summed up in four words: More Growth – Less CO2. We are proud of that. We already operate a total of approximately 2,000 megawatts from wind, hydro and biomass, across Germany, the UK and Spain. A further 500 megawatts are currently under construction. By 2013 we aim to have some 4,500 megawatts of renewable energy either under construction or in operation. In order to achieve that, RWE Innogy is investing around one billion euros every year in the development of renewable energies in Europe. Considering our pipeline as well, we are doing more for renewables than most other companies in Europe. Incidentally, we are able to finance that out of the revenues RWE earns from power stations in the conventional sector. We intend to invest a substantial proportion of this total in the UK – as we have in the past. Our RWE npower renewables subsidiary has long been successful in the UK and has particularly strong roots in Wales. We currently operate wind and hydro plants in England, Wales and Scotland with an installed capacity of some 450 megawatts. We 2 intend to continue developing this good partnership. However, Rhyl Flats is not only important to me for that reason. I do not regard the use of offshore wind energy as one option out of many. It is an economic and climate policy imperative. Ladies and Gentlemen, We are only at the beginning of offshore development. A great deal still needs to be done. Nevertheless, we are certain that Europe can meet this challenge. The wind turbines of Rhyl Flats, which turn so easily out there, are proof of this. They are the result of highly developed engineering expertise and excellent project management. Anyone who knows about the energy industry knows just how difficult it is to build a power station on land within the planned time schedule. Imagine accomplishing the same thing at sea. Just transporting and positioning the several-thousand-tonne foundations is a major feat – all the more so, if you have carry out this work in up to 10-metre waves. However, it can be done, even when frontal systems or storms constantly change your time schedules. Under these conditions, it is actually rather incredible that the offshore construction work for Rhyl Flats began in April 2008 and the first turbines began supplying electricity to the mainland in July 2009. I would like to express my appreciation and an enormous thank you to everyone who contributed to the success of this project under these sometimes highly challenging conditions. 3 I do not exaggerate when I say: Wales is the nucleus of RWE’s offshore development. Thanks, not least, to the expertise of the offshore team here, this development has long since spread far beyond the borders of Wales. Currently, off the coast of Suffolk, for example, we are building another 500-megawatt wind farm – jointly with Scottish and Southern Energy. Additionally, we are now developing further major projects off the coast of England and Scotland. And, of course, we are also actively involved in the third round of bidding for UK offshore wind sites. In the process, we are naturally not forgetting our home market: we are currently developing two large wind farms in the German part of the North Sea – Nordsee Ost with 288 megawatts and Innogy Nordsee 1 with 960 megawatts. Additionally, we are collaborating with partners in the construction of the first Belgian wind farm at Thornton Bank, where six of the world’s largest wind turbines are already turning. All these projects, which will be completed in the next few years, are based on experience that we gained here in Wales during the construction and operation of North Hoyle and Rhyl Flats. They are making a significant contribution to transforming the still young offshore wind sector into a mature and established industry. Ladies and Gentlemen, Today we would like to symbolise the special relationship between our company and Wales and the people here in a unique way. I don’t think I am letting the cat out of the bag when I say that we have prepared small gifts for you. One part will perhaps be a surprise. It is based on an old 4 German tradition, which I find very fitting today. In Germany, when people move into a new house, it is the custom for neighbours to present them with bread and salt. This custom harks back to the days when both these foods were considered particularly precious. Bread and salt symbolise well-being, strong ties and an intact community. In a metaphorical sense, with the Rhyl Flats Offshore Wind Farm, we have now moved into a new house in Wales. We have therefore chosen to use bread and salt to wish all the best to the people of Wales and the wind farm. And to be absolutely certain that we cement our good neighbourly ties, we have chosen salt from the Welsh sea – a product that is famous far beyond the borders of Wales. It represents this region and the sea from which it comes – the same sea with which we are linked in a rather special way through our offshore activities. This small, but sincere gesture will be waiting for you at lunch. It has been a real privilege to be here today. I am incredibly proud and I would like to thank you all for your attention. It is now my greatest pleasure to hand you over to the Right Honourable Peter Hain, Secretary of State for Wales. 5 .