Iberdrola Renewables' Barrett Stambler Earns the AWEA Commercial Achievement Award

National Advocacy Group Recognizes Stambler's Contributions

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June 2, 2008

PORTLAND, Ore. – The American Wind Energy Association (AWEA) today honored IBERDROLA RENEWABLES' Barrett Stambler, vice president of wind marketing and sales. Stambler was presented with the AWEA Commercial Achievement Award in honor of his creative contributions to innovative structures for renewable power sales -- and for the sheer volume of wind power he has sold in his nearly 30-year career. Stambler received the award at the national advocacy group's annual conference in June.

"I'm deeply honored," said Stambler. "My team and I set out to make wind power as user friendly as possible. I think the repeat business we have from customers of all types indicates that we've been successful at giving customers what they want. This is truly a labor of love. It is not difficult to sell something that is making a long--term difference for the environment and for future generations."

Repeat customers include investor-owned utilities such as Xcel Energy and Pacific Gas & Electric Company. Municipal, cooperative and public utility customers include the Southern California Public Power Authority, Great River Energy, Eugene Water and Electric Board, Modesto Irrigation District and the federal Bonneville Power Administration.

Stambler and his team have negotiated power sales agreements for well over 2000 megawatts of wind power and Renewable Energy Credits (RECs) in 13 states since 1986 currently serving the annual residential electricity needs of approximately a million homes. He was the innovator of a wide variety of products to meet customer needs. These new products helped expand the market for wind power and make sales of electricity from wind one of the world's fastest growing generation sources.

Stambler started the wind business for PPM Energy, now Iberdrola Renewables, with a series of off-take agreements, in which Stambler's company assumed the market risk while other wind farm owners assumed the construction and project risk. Stambler and his team warehoused the wind power and then sold it to customers as the customer needed it, ramping up power purchases with load growth.

"Barrett has witnessed the significant growth and evolution in the wind business and has been responsible for a lot of it," said Terry Hudgens, CEO of Iberdrola Renewables, Inc. "He's brought a dedication and creativity that has benefited all of us in the wind industry."

"Barrett has been an innovator in our industry," said AWEA Executive Director Randall Swisher. "His creativity and persistence have made him one of the best marketers in the business as he's helped to transform the way the North American wind power market functions. We are pleased to present him this award."

"I've known Barrett for seven years. We've successfully implemented three wind PPAs, and I can say Barrett is a true believer and an industry leader," said Manny Robledo, energy systems manager for the Southern California Public Power Authority, which represents cities such as Los Angeles, Anaheim, Pasadena and others. "When we went out with our first RFP in 2002, Barrett was the only one knowledgeable, confident and enthusiastic enough to convince us to make our first wind purchase."

Iberdrola Renewables is the world leader in wind power with 8,164 MW of installed capacity on March 31, 2008. Iberdrola Renewables will invest $8 billion in the U.S. between 2008 and 2010. The company plans to install 2,000 MW a year - half of that in the US -- to reach 13,600 MW worldwide by 2010.

Contact: Art Sasse, Director, Communications & Brand, Iberdrola Renewables, 503-796-7740
Paul Copleman, Media Relations, Iberdrola Renewables, 207-641-2805