Iberdrola Renewables and PPM Energy Name Two New Officers in Renewable Energy Business

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March 26, 2008

PORTLAND, Ore. – PPM Energy and Iberdrola Renewable Energies USA have named two executives to its joint North American renewable energy business development efforts. Don Furman will now serve as Senior Vice President for Development, Transmission, and Policy, and Rany Raviv will become Vice President of Business Development and Mergers and Acquisitions.

Furman will be responsible for North American development and continue to support transmission and public policy efforts. He will oversee all development activities relating to the wind business as well as transmission rights, and continue to lead relationship management with government, regulators, and organized markets. Raviv will report to Furman and oversee organic renewable business development while continuing to manage the renewable mergers and acquisition activities in North America. Raviv will relocate to Portland, OR, in the summer of 2008.

Furman has served as a Senior Vice President at PPM Energy, an integrated energy developer and marketer since 2005. Previously, he served in various capacities at PacifiCorp, most recently as Senior Vice President of Regulation and External Affairs. He also held senior management positions in transmission, and mergers and acquisitions. Prior to joining PacifiCorp, Furman was a Senior Vice President of Citizens Lehman Power LLC, and in private law practice with various firms. He holds a B.A. in Economics from Northwestern University and a J.D. from Lewis and Clark Law School.

Raviv joined Iberdrola Renewable Energies USA as Vice President in 2007, in Radnor, PA. Prior to Iberdrola, he was a 10-year veteran of Ormat, a geothermal energy leader where he led growth activities in the US. He has over 15 years experience in global energy, mergers and acquisition, project finance, and brings a valuable track record of closing complex and diverse deals. He holds a B.S. in Computer Science and Business Studies from the University of Buckingham (UK) and an M.B.A. from City University Business School (UK).

These realignments enhance the renewable business executive team in the US for an organization that is taking further steps to integrate PPM Energy and Iberdrola Renewable Energies USA in North America under Terry Hudgens and Martin Mugica. The consolidated organization complements development efforts with engineering and construction under Allan Query, commercial wind farm operations under Kevin Devlin, origination under Barrett Stambler, and retail marketing capabilities under Brent Alderfer.

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.

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