ACCIONA`s Red Hills Becomes First Wind Farm in the United States to Be Validated on APX VCS Registry

Thu Jan 28, 2010 9:00am EST

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

CHICAGO--(Business Wire)--
ACCIONA announced today that the company`s Red Hills Wind Farm is the first in
the U.S. to be validated and registered under the Voluntary Carbon Standard
(VCS), and listed on APX`s VCS Carbon Registry. Red Hills is a wind farm built
in Oklahoma, a state with no RPS, and therefore no possibility for generating
compliance RECs. 

The VCS Program provides a global standard for approval of credible voluntary
offsets. TerraPass has contracted to purchase a portion of the Voluntary Carbon
Units (VCU) from the Red Hills project, which it will retire on behalf of its
customers. Using the UNFCCC Clean Development Mechanism methodology for
renewable energy projects, Red Hill`s wind power is calculated to displace 0.67
metric tons of CO2 for each megawatt-hour produced. 

ACCIONA`s Red Hills Wind Farm is the first U.S. renewable energy project to be
validated and registered according to the same stringent methodology which
governs renewable energy projects registered under the Kyoto Protocol`s
flexibility mechanisms. Validating the Red Hills Wind Farm was a lengthy process
with 3rd party confirmation ensuring that the Red Hills project met all the
requirements of VCS and the selected CDM methodology. 

"In the current business climate, creating alternatives for utilizing all the
renewable attributes of our projects is key to our success," said Peter Duprey,
CEO, ACCIONA Energy North America. "By leveraging our knowledge of the carbon
markets in other countries and having our local team applying it in the US
market, we have opened another avenue for business entities to contribute to
reducing their carbon footprint. We are very proud to bring the internationally
recognized VCS certification to the U.S. renewable energy market and encourage
other wind producers to do the same." 

The VCS was developed to standardize and lend credibility to the voluntary
offset market. Specifically, the VCS has created a trusted and tradable
voluntary offset credit, the Voluntary Carbon Unit (VCU). Accreditation from the
VCS ensures a clear chain of ownership over voluntary offsets and prevents them
from being used twice. 

"TerraPass customers tell us that they want their money to support renewable
energy projects and now we have a great VCS wind project in ACCIONA's Red Hills
Wind Farm," said Erin Craig, CEO of TerraPass. "We're proud that the carbon
reductions from Red Hills Wind Farm will be added to our high quality portfolio
of U.S. carbon offset projects." 

Craig added: "TerraPass specifically seeks projects to fund where operations
have shown good practices and avoided negative impacts. The ACCIONA Red Hills
Wind Farm used numerous environmental surveys to ensure effective conservation
strategies were implemented in the construction and operation of the project,
making it a good fit for the TerraPass portfolio." 

The 123 MW Red Hills Wind Farm is the first wind power project entirely
developed and installed by ACCIONA in the state of Oklahoma, with an investment
of $252 million. It was commissioned in spring 2010 and consists of 82 ACCIONA
Windpower 1.5 MW turbines. Red Hills can generate enough clean energy to supply
more than 40,000 U.S. homes. 

About ACCIONA Energy

ACCIONA Energy is a world leader in renewable energies with a major presence in
the main clean technologies, as developer and services provider. In wind power
it has installed 7,573 MW, owned by the company and other companies, and it
produces wind turbines using proprietary technology. As of September 30, 2009,
the company had installed 115 MW of concentrating solar power plants -with
additional capacity under construction and development- and 115 MW of
photovoltaic power. It also owns and operates 910 MW in hydro power stations and
three biomass plants (33 MW). In biofuels, it produces biodiesel from vegetable
oils and bioethanol from wine-surplus alcohol.

ACCIONA Energy belongs to the ACCIONA group,one of Spain's leading corporations,
with operations in infrastructure, energy, water and services in more than 30
countries. Its slogan "Pioneers in Sustainable Development" reflects its
commitment to achieve sustainable development in all of its business areas,
contributing to economic growth, social progress and environmental balance.
ACCIONA, leader of its sector in the Dow Jones Sustainability Index, has a
workforce of over 41,000 employees and sales of €12,665 million in 2008. ACCIONA
is quoted on the Spanish IBEX-35 (ANA.MC) selective index.

Starr Million Baker, 512-382-8981

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