Iberdrola Renewables and AREVA form stratigic partnership to bis for French offshore wind projects

Paris

June 29, 2011

Iberdrola Renewables and AREVA have signed a memorandum of understanding to jointly develop offshore wind projects in France following the government's announcement of a plan to reach a six gigawatt target by 2020. The partners will compete for two of the country's five offshore zones offered in a first phase of bidding.

Under the terms of the agreement, AREVA will be sole supplier of the turbines that will equip the offshore farms to be developed by Iberdrola Renewables.

Iberdrola Renewables is the largest wind energy company in the world and has a pipeline of around 10,000 megawatts in offshore wind projects across Europe, primarily in the United Kingdom.

AREVA is a top tier European player in the offshore wind industry. Its successful M5000 turbine won 600 megawatts of orders confirming the industry's confidence in the group's field-proven technology. By the end of 2013, an installed base of over 120 new turbines will be in operation in Europe.

Keith Anderson, Chief Executive of Iberdrola's Global Offshore Division, said: "The development of offshore wind projects is one of the key areas of growth for Iberdrola Renewables and we are now assessing major projects in the UK, Germany and France. AREVA has a very strong presence in Europe and is a major developer of offshore wind turbines, making them the ideal partner to explore these projects with."

Anil Srivastava, Chief Executive Officer of AREVA Renewables, declared: "AREVA is fully committed to develop an ambitious wind offshore industry in France bringing its industry leading operational experience in five-megawatt-class wind turbines. The partnership with Iberdrola, a major renewable global player, is a key step in our European development and offers a tremendous opportunity for our global industrial and economical expansion."