PPM Energy is Now IBERDROLA RENEWABLES

Thu May 1, 2008 9:00am EDT

* Reuters is not responsible for the content in this press release.

PORTLAND, Ore.--(Business Wire)--
PPM Energy, Inc. is now part of IBERDROLA RENOVABLES, S.A., and
has changed its name to IBERDROLA RENEWABLES, Inc. In addition, PPM
Energy Canada Limited has changed its name to IBERDROLA Canada Energy
Services Ltd. and remains an indirect subsidiary of Scottish Power
Ltd.

   We'll still be the same great people supplying the same great
products and services under the same contractual relationships as
before, just with a new name and a corporate parent even more
committed to clean and renewable energy.

   On April 23, 2007, PPM Energy, Inc. and PPM Energy Canada Limited
joined the IBERDROLA, S.A. ("Iberdrola") family of companies through
Iberdrola's acquisition of Scottish Power plc. Iberdrola is one of the
five biggest electricity companies in the world, operating gas and
electricity businesses in 28 countries.

   IBERDROLA RENOVABLES, S.A., Iberdrola's renewables company, is the
world leader in the renewable energy sector, operating in 19 countries
with 7,704 MW of installed capacity as of the end of 2007.

   In September 2007, IBERDROLA RENOVABLES, S.A. listed 20% of its
equity through a new capital issue on Ibex-35, the Spanish Stock
Market index. The company aims to implement 2,000 MW of new wind
generation on a yearly basis between 2008 and 2010, investing EUR 8.6
billion with the objective of 13,600 MW total operating renewable
energy capacity by the end of 2010.

   We at IBERDROLA RENEWABLES, Inc. look forward to continuing our
business relationship with all of our counterparties.

   For more information, visit our website at
www.iberdrolarenewables.us.

IBERDROLA RENEWABLES
Jan Johnson, 503-796-7070

Copyright Business Wire 2008