Strategic reorganization of Acciona

In a meeting at ACCIONA’s corporate headquarters, the company’s Board of Directors approved top management changes and the creation of new management units. The changes at ACCIONA are part of its strategic reorganization, which also includes a new Positioning & Branding campaign (called “Plan Re_”) and the definition of the company’s Business Plan 2009-2013.

Organizational changes

In recent years, ACCIONA has undergone a major transformation in which sustainability has been placed squarely at the center of the company’s strategy, and Energy, Infrastructure and Water have been defined as ACCIONA’s three main pillars of growth.

This significant transformation has given rise to solid results. Over the past five years, ACCIONA’s sales have registered a year-on year rise of 13%: in 2008 the company reported 7,208 million euros in sales, and EBITDA (gross operating profit) rose by 21% to 1,069 million euros. In the same period, ACCIONA made investments worth 20,000 million euros and generated 13,000 direct jobs. The company operates in 35 countries, including its ten key markets, and in 2008 it boosted international turnover by 73% compared to 2007, representing 27% of total Group turnover.

In view of this transformation and the new challenges, the changes approved by the board involve the Group’s three main operating divisions, Energy, Infrastructure and Water, and its corporate structure.

A) Energy: Carmen Becerril, who has been heading ACCIONA’s Corporate Resources Department, will be appointed President of the Energy Division. Esteban Morrás, who formerly led the Energy Division, has submitted his resignation for personal reasons. The Board of Directors wishes to publicly express its thanks to Mr. Morrás for his outstanding contribution.

B) Infrastructure: Pedro Martínez, presently Managing Director of the Infrastructure Division will be appointed President of ACCIONA Infrastructure.

C) Water: Luis Castilla, presently Managing Director of the Water Division, will be appointed President of ACCIONA Water.

D) Corporate Departments: Joaquín Mollinedo, until now responsible for Corporate Resources in the Energy Division, will be appointed Chief Innovation & Sustainability Officer, heading a newly created department which brings together the areas of Regulation, Sustainability, R&D and Quality Control. ACCIONA will use the new Corporate Department to channel its R&D efforts and drive its Quality and Corporate Sustainability policies. Within the Department, Juan Ramón Silva will be appointed Corporate Sustainability Manager.

Alfonso Callejo, former General Manager of ACCIONA’s Human Resources, will be appointed Chief Corporate Resources Officer, with responsibility in the areas of Human Resources, Security, General Services and Information Technologies.

The other Corporate Departments remain unchanged as regards their functions and heads, namely:

– Chief Financial Officer, Juan Gallardo

– Head of International, Frank Gelardin

– Chief Communications Officer, Pío Cabanillas

– Corporate Development & Investor Relations, Juan Muro-Lara

– Company Secretary and General Counsel, Jorge Vega-Penichet

– Chief of Staff, Macarena Carrión

Therefore, the ACCIONA Management Committee will comprise: José Manuel Entrecanales, Juan Ignacio Entrecanales, Pedro Martínez, Carmen Becerril, Luis Castilla, Macarena Carrión, Juan Gallardo, Frank Gelardin, Pío Cabanillas, Juan Muro-Lara, Jorge Vega-Penichet, Joaquín Mollinedo and Alfonso Callejo.

Esteban Morrás Andrés

Graduate in Law from the University of Navarra in 1980.

Between 1981 and 1989, he has held positions with a number of different Local Administration entities, including the position of Secretary General of the Navarra Federation of Districts and Councils and Secretary of the District Association of Pamplona, which manages the water supply, waste water treatment, urban solid wate collection and treatment and district transport services.

Since then and to date, he has been part of the ACCIONA Group, where he has been Executive Director since 1999, and Managing Director of EHN –ACCIONA Energy since 2005. This year he has taken up the post of Executive Director of the Energy Division at ACCIONA and has been appointed as Director of the ACCIONA Group.

Since October 2007 he has been Executive Director, member of the board and deputy to the Chairman of Endesa.

Esteban Morrás has been linked to the renewable energy sector since 1989, when he took part in forming EHN, where he has worked as a top executive and has been the driving force behind its international and technological expansion.

Following the inclusion of EHN in the ACCIONA Group as the leading company in the energy division in 2004-2005, Esteban Morrás assumed top executive management of the Energy Division and joined the Board of Directors of ACCIONA.

A firm supporter of innovation in the sector, Morrás has made significant contribution to the development of wind energy in Spain and abroad. In 2004, he received the Poul La Cour award, the highest award granted by the European Wind Energy Association (EWEA), for his work in favour of this energy source in Europe.

Board Memberships:

Corporacion Castilla-La Mancha
Endesa. S.A.
Inversiones Corporativas Navarra, S.L.
Inversiones Corporativas Navarra Solares, S.L.
Desarrollos De Energías Renovables De Navarra, S.A.

ACCIONA Energy is a leading player in the field of renewable energies. It has installed more than 8,400 MW of different technologies – wind power, hydroelectric, solar and biomass – for itself or for clients. In solar power, ACCIONA Energy has installed in Nevada (US) the largest CSP plant built anywhere in the world in the last eighteen years. The Company recently completed construction of its first plant in Spain and has several facilities at varying stages of construction and development. With regard to solar photovoltaic power, ACCIONA Energy has installed 115 MWp, including a 46 MW plant, the largest of its kind in the world, located in Portugal. The Company also manufactures wind turbines produced with in-house technology, as well as producing biodiesel and bioethanol. ACCIONA Energy delivers services to clients interested in renewables projects.