Iberdrola Renewables Names New North American Executive Vice President

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March 26, 2008

PORTLAND, Ore. – PPM Energy and Iberdrola Renewable Energies USA have named Susan Reilly Executive Vice President with particular focus on power business activities for Iberdrola Renewables in the US and Canada. She will be based in Portland, Oregon.

A member of ScottishPower’s Executive Team, and most recently Director responsible for ScottishPower’s Strategy and Development, Reilly brings extensive experience to her new role. Her prior experiences include heading the ScottishPower wind business from 1999 to 2005, the acquisition of combined cycle gas turbine plants in the UK, and leading the negotiations for the sale of PacifiCorp to MidAmerican and ScottishPower to Iberdrola.

Prior to joining ScottishPower, Susan was with PricewaterhouseCoopers and also worked on mergers and acquisitions with various organizations for several years.

Iberdrola Renewables (www.iberdrolarenewables.com) today is the world’s largest wind energy company by installed capacity, and the second largest in the US. PPM Energy and IBERDROLA Renewable Energies USA are part of the IBERDROLA RENEWABLES family of companies. At the end of 2007, Iberdrola Renewables had 2,145 megawatts (MW) of wind energy in operation in the US and a worldwide pipeline of 42,000 MW.