EDP ON 17 - Makes its move to the sea

EDPRMakes its move to the sea

onrenewEnergy without limits · May | June* 2010

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EDPRMakes its move to the sea

onrenewEnergy without limits · May | June* 2010

onindexMay | June*

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4|5 onpostA message board availableto all employees of EDP

6|11 oncover12|13 online14|15 on peopleJeff Bishop, corporatedevelopment manager of EDPR North America and Roberto Flechainfrastructure manager forEDPR’s European platform

16 ontopFour key ideas from veteranmanagement consultant,trainer and best-sellingauthor David Allen

22|25 ontrackEDPR’s most important news

oncoverEDPR into the sea

Offshore wind energy is one of the biggest sources of renewableson the planet and still largely unexplored. EDPR, one of the mostimportant wind energy companies in the world, will lead thedevelopment of the Moray Firth wind farm

online24 hours in the life of Radu Tutos

Radu Tutos has been with EDPR North America since January2007. He was recently promoted to director of finance in January2010.

ontargetLuís Adão da Fonseca’s comments

EDPR sits down with the EDPR’s chief business developmentofficer discusses the reasons behind the company’s success

onchangeElaine Carrasco moves to Spain

Elaine Carrasco, a human resources manager with EDPR,transferred from the North American corporate office in Houston,Texas, to the company’s corporate holding office in Madrid, Spain.

EDP Renewables (EDPR) recently moved into the UnitedKingdom’s offshore wind market. In November 2009,EDPR and SeaEnergy created the joint venture MorayOffshore

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onpostMessage board

SARGENT AND THE SEAPART OF "AN AMERICAN SEASON"On view through May 23, 2010 atthe Audrey Jones Beck Building.American expatriate artist JohnSinger Sargent (1856-1925) is

famous for his glamorous societyportraits, but this exhibition is thefirst to examine the little-exploredmaritime paintings and drawingsthat Sargent produced in variouslocales during the first five yearsof his career.The Museum of Fine

Arts, Houston

1001 Bissonnet StreetHouston, TX 77005

P.O. Box 6826Houston, Texas

77265-6826

713-639-7300http://www.mfah.org

“Hi KarenIt was nice to have you in thecommunication meeting in Évora, anopportunity to strengthen us as a team. Keep in touch and let us know the goodwork EDPR NA is doing with the localcommunities”

PortugalMargarida Glória· DMC, Portugal

Keep in touch

"Olá Jacinta,Já se passaram 2 anos, desde a tua mudança para

Madrid. Esta mensagem despretensiosa vem lembrar

que deixaste a tua marca na EDP Comercial e nos

colegas com quem trabalhaste. Sentimos a falta das

tuas gargalhadas e do teu espírito vivo e inteligente.

Saudades da tua colega FerGui.

Beijos. FerGui”

PortugalFernanda Guimarães· EDP Comercial

Deixaste a tua marca

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Do you want to leave a message for your fellow colleagues? Now you can communicate across platforms in 250 characters or less – [email protected]

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Message board

Onpost

Submit your message

board post by

contactingus

Great contribution

"Dear Donato, Mike and Jorge”.

Thanks a lot for your great contribution

to January's Energy Planning

Committee! We'll now start working

on the next CPE meeting (June)

I’m counting on you guys to participate

in its preparation! Cheers, Pedro

PortugalPedro Neves Ferreira· Director da Direcção de Planeamento Energético Portugal

Bom resto de secondment

“Pedro,Já passaram 8 meses desde que começaste

a tua missão em Palo Alto – Silicon Valley!

Os teus colegas da EDP Ventures desejam-te um bom

resto de secondment na NGEN e esperam em breve

poder contar com os teus insights sobre cleantech

e venture capital em Lisboa.

Abraços”.

PortugalCarla, Frederico

, Luís

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oncoverOffshore wind market

The joint venture between EDP Renewables (EDPR) and SeaEnergy RenewablesLimited (SeaEnergy) was created in November 2009 to develop, construct andoperate an offshore wind farm. EDPR holds 75 percent of Moray Offshore whileSeaEnergy owns the remaining 25 percent. SeaEnergy and EDPR bringing di-verse experience to the table, Moray Offshore submitted a bid to The Crown Es-tate’s Round 3 offshore wind program. The Crown Estate is a property portfolioowned by the U.K’s Crown. On Jan. 8, 2010, Moray Offshore was awarded a zone,including the exclusive rights to develop 1.3 gigawatts (GW) of offshore wind pow-er in the U.K.” .

SeaEnergy brings local presence as well as deep offshore expertise in engineer-ing and construction to the partnership. Its parent company “SeaEnergy PLC” isthe only listed pure-play offshore wind energy company in the U.K. SeaEnergydesigned, developed and delivered the world’s first deepwater wind farm: the 10-megawatt (MW) Beatrice Project, located off the Scottish coast next to MorayOffshore’s zone. SeaEnergy has also formed partnerships with two other notableEuropean utilities in The Crown Estate Scottish Territorial Waters round. SeaEn-

ergy’s background “paired” with EDPR’s experience in wind assessment, procure-ment, “financing and operations” make for a complete and strong partnership.

Moray Offshore was created in response to The Crown Estate’s announcementthat it would offer a third round of offshore tenders. The Crown Estate’s marineproperties include more than half of the U.K.’s foreshore (17,000 square kilome-ters or approximately 6,500 square miles), 55 percent of tidal river and “estuarybeds” and almost the entire seabed of the 12-nautical-mile (nm) territorial limitaround the U.K. The Crown Estate issued leases for the development of offshorewind farms within the 12-nm territorial limits, while the Energy Act of 2004 givesit the right to issue leases for development beyond the territorial limit within theRenewable Energy Zone out to 200 nautical miles.

The Crown Estate manages its assets on a commercial basis, guided by theprinciples of sustainable development and social responsibility. Round 3 was thefirst time The Crown Estate was a co-developer in the offshore program. TheCrown Estate has assigned a manager to each of the nine zones awarded to sup-port the development of the projects. After key consent dates, The Crown Estate’sproactive involvement during the development phases will roll off.

EDP Renewables recently moved into the United Kingdom’soffshore wind market. In November 2009, EDPR and SeaEnergycreated the joint venture Moray Offshore

EDPR

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Makes its move to the sea

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Onstage

EDPR: A World Leader

Operating in the mostattractive markets andcontinuously expandingbusiness to new areas of the globe, EDPR is a worldleader in the renewableenergy sector. EDPR’sgrowth reflects the firm’sextraordinary capacity toimplement projects andsmoothly integrate thecompanies it has aquired.Its markets provideattractive opportunities for economic growth, due to the fact that eachmarket possesses a stableregulatory structure thatpermits profit generation.


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The Crown Estate has tendered three different rounds ofoffshore bids (in addition to the Scottish Territorial Watersround). In Round 1 in 2001, 1.5 GW were awarded, while inRound 2 in 2003, 7.3 GW were awarded. In January 2009,during the Round 3 leasing process, The Crown Estate al-lowed competitors to bid on 32 GW in nine zones. Forty ap-plications were submitted for the nine zones when theyopened for tender in March 2008. Rob Hastings, director ofThe Marine Estate at The Crown Estate, said, “I am delight-ed that we have announced the Development Partners forall nine Round 3 zones. As the landowner of the seabed, wehave been working very closely with the statutory consul-tees and government to deliver this. The Crown Estate willcontinue to play an active role in energy generation, and co-investing. Marine renewable energy from offshore wind,wave and tidal has the potential to deliver over one-third ofthe U.K.'s energy needs by 2020.”

Round 3 has attracted inward investments, like those ofEDPR, to the benefit of the U.K. industry. The EDPR’s mainoffice for the U.K. platform will be in Edinburgh and housethe Moray Offshore team. EDPR considers it beneficial tohave satellite offices allow EDPR to remain close to the local

Other benefits of offshorewind include a higher, moresteady wind source andshorter transmission pathsto load centers with littleenvironmental impact

Location

Moray Offshore’s windenergy project will belocated in the Moray Firth,also known as Zone 1 [see map]. Zone 1 lies within the Smith Bank, off the northeast coast of Scotland, and covers an area of 522 squarekilometers (202 square miles). It is approximately 25 kilometers (16 milessoutheast of the Caithnesscoast and has water depthsbetween 30 and 60 meters(98-197 miles). MorayOffshore will commence an extensive data-gatheringprocess within the zone. It will include bird andmarine mammal studies,recording of metoceaninformation, and windsource analysis. The process will take at least 24 months, then planning consents then Moray will submitplanning consents in 2013.Moray Offshore will benefit from EDPR’s.

EDP Renewables is the third-largest wind energy company in the world. Having undergoneexceptional development in recent years, EDPRenewables concluded 2009 with a 1.2-GW increasefrom 2008, with a total of 6.2-GW capacity installed.Currently, the North American platform isresponsible for 2.859 MW of the company’s project’sglobal installed capacity. The European platformconcluded 2009 with 3,355 MW of installed windcapacity, securing its leading position in the windenergy market operate throughout the continent. In 2009, EDPR also increased its presence in the“Brazilian market” with 532 MW of projects undervarious stages of development.

On Cover

Moray Fith area

ElginInverness

Wick


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WINDFLOAT

EDP Inovacao’s 2009Memorandum ofUnderstanding (MOU) with Principle Poweroutlines a three-phaseproject to develop afloating-foundation windfarm off the Portuguesecoast. The first phaseinvolves installing a singlefloating turbine off thePortuguese coast fortechnology demonstrationpurposes. According to aPrinciple Power pressrelease, “innovativefeatures of the WindFloatdampen wave and turbineinduced motion, enablingwind turbines to be sitedin previously inaccessiblelocations where waterdepth exceeds 50 m andwind resources aresuperior.”

community, keeping open options for furtherexpansion. This project will follow a detailedstakeholder’s management plan involving ex-tensive early engagement with all parties. Anexample of EDPR’s commitment to the U.K.market is its full membership in the major U.K.renewable associations U.K. Renewables andScottish Renewables.

The Moray Offshore Firth project would nothave been possible without the valuable inputfrom multiple EDP platforms. EDP Inovação,EDP Valor and various departments from theEDPR NA aided the initiative. At the corporatelevel, EDPR's Department of Business Initia-tives handled the overall bid process. The projectis a prime example of leveraging EDP and ED-PR’s capabilities to create the most attractivetransaction.

EDPR is enthusiastic about the move into off-shore wind as it becomes increasingly viable inthe international market. According to theAmerican Wind Energy Association, eight coun-

tries have wind turbines installed offshore thatprovide clean, renewable energy: Denmark, Bel-gium, Sweden, Finland, Germany, the U.K., theNetherlands and Ireland.

Other benefits of offshore wind include ahigher, more steady wind resource and shortertransmission paths to load centers with little en-vironmental impact. As with EDPR's other tech-nologies, offshore wind provides green jobs andattracts multiple manufacturing, assembly andtransportation companies to cities, boosting lo-cal economies. Offshore wind energy has manyof the same advantages as onshore wind energy.Offshore wind energy doesn’t compete with thespace it occupies; for example, fishing and ship-ping are not affected by turbine installation. On-shore wind turbines do not need fueling andhave low-maintenance demands. Offshore windturbines often require even less maintenancethan their onshore counterparts. The wind is in-exhaustible, and at sea, the wind blows at higherspeeds and more consistently than on land.

Offshore wind in the U.K. has experiencedmuch growth since The Crown Estate’s firstround of leasing in 2001. The U.K.'s Renew-ables Obligation was recently extendedthrough 2037. The Obligation states that in2010, 10.4 percent of electricity in the U.K.must come from renewable sources. By 2015,this number will have risen to 15.4 percent,where it will stay through 2026.

The nine zones offered for tender in Round3 will deliver enough capacity to supply a quar-ter of the U.K.'s needs by 2020. EDPR realizesthe potential growth of this market and strivesto be a leader as it continues to grow. Othercompanies are breaking into the offshore in-dustry as well. General Electric (GE) expandedinto offshore wind in September 2009 when itacquired Norwegian ScanWind. GE has con-tinued their commitment to offshore windpower by announcing plans to spend 340 mil-lion Euros by 2016, building offshore wind-re-lated research and manufacturing facilities inv

2009 Gross MW (including the U.K. and Italy)

On Cover


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The project in numbers

• EDPR holds 75%of Moray Offshore, while SeaEnergy owns the remaining25%• Moray Firth Wind Farm 1.3 GW in 2 phases

• Water depths between 30 and 60 meters

• 15.4%of electricity from renewable sources by 2015 in the U.K.

• Wind Farm Area 522 km2

• 25 km2southeast of Caithness coast

On Cover


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the U.K., Norway, Sweden and Germany. Theirinitiatives in the U.K. include building an off-shore turbine factory. This investment maylead to the creation of almost 2,000 jobs andlure suppliers of multiple offshore compo-nents to nearby sites. Siemens has also com-mitted to building turbine-manufacturing fa-cilities in the U.K., although details have notbeen released. Vestas has increased their pres-ence in the offshore arena, releasing their 3MW V112 offshore model in September 2009.Companies, manufacturers and developers,realize that to reach the renewable energy tar-gets that have been established in the “Euro-pean Union” the offshore wind sector will have

to grow. Along with the demand for such re-newable energy, there is a vast untapped off-shore wind power in Europe, making it thesector a sound investment. In addition, Round3 has concentrated the focus in the U.K. to ex-isting markets, making the U.K. very attractivefor suppliers and developers.

Other initiatives in offshore wind develop-ment include EDP Inovacao’s MOU with Seat-tle, Wash.-based Principle Power. The twofirms will co-develop a three-phase wind proj-ect in deep ocean waters off the Portuguesecoast. EDPR is open to further development inthe U.K. and is seeks other offshore develop-ment sites in multiple markets.

Clean andeconomicallyviable“Offshore wind energy is oneof the biggest sources ofrenewables on the planetand still largely unexplored.The U.K. Round 3 is thebiggest tender forrenewables ever and marksthe definitive commitment ofthe U.K. to an energy sourcethat is not only clean but alsoeconomically viable. It is,therefore, with greatpleasure that EDPRenewables, as one of themost important wind energycompanies in the world, willlead the development of theMoray Firth wind farm withour partner “SeaEnergy”.This new project fits perfectlyinto EDPR’s portfolio, addinggeographical andtechnological diversificationin one of the lowest-risk andmost business-friendlynations in the world,” saidAntonio Mexia, CEO of EDPand chairman of the board.

On Cover

The Moray OffshoreThe Moray Offshore Firth project would not have been possible without the valuable input from multiple EDP platforms.EDP Inovação, EDP Valor and various departments from EDPR NA aided the initiative. At the corporate level, EDPR'sDepartment of Business Initiatives handled the overall bid process. The project is a prime example of leveraging EDPand EDPR’s capabilities to create the most attractive transaction. We would like to take the time to thank the followingpeople for their participation in this project: · Carmelo Scalone, Executive Director · João Maciel and Pedro Valverde (EDP Inovação) · Enrique Àlvarez-Uría and Domenico Marinelli (Business Initiatives) · Ignacio Láinez and Francisco Espin (Energy Evaluation) · Andre Fraga, Margarida Mourão-Ferreira and Miguel Ángel Prado (M&A and Investments) · Nuno Martins and Jorge Casillas (Markets and Regulation) · Marta Mendez and Emilio García-Conde (Legal) · Manuel Ortiz and Oscar Díaz (Procurement) · Rui Chousal (Telecontrol Centre) · Noelia Álvarez Marivela (Engineering and Construction) · Gary Lee and Jeff Bishop (EDPR North America) · Francisco Galván, Technical Director · Dan Finch, Ronnie Bonnar, Allan Macaskill, Joel Staadecker, John Reddish, Phillip Merson and Lyla Smit (SeaEnergy)


Radu Tutos has been with EDPRenewables North America (EDPRNA) since January 2007, serving asMarket Operations Director. He wasrecently promoted to Director ofFinance for EDPR NA in January of2010. When Radu is not working, hespends his time going out withfriends, exercising, enjoying the artsand traveling. Radu enjoys going tothe symphony, opera, theatre andvisiting art museums, as well asspending time in Europe. He is aproud father of his four year old son,who also keeps him very busy on theweekends. Radu moved to the UnitedStates from Romania in 1984. Priorto joining EDPR NA, Radu was asoftware entrepreneur and aDirector at Enron, where he played aleading role in the acquisition ofpower and gas assets in LatinAmerica in excess of $3 billion andmanaged a gas marketing jointventure in Romania. Radu graduatedfrom Georgia Institute of Technologywith a Bachelors degree in computerscience. He also received a Master ofBusiness Administration from UCBerkeley’s Haas School of Business.

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online24 hours in the life of...

24hours

Radu TutosFinance Director

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TRAINRadu catches the metro to begin his day

ARRIVES AT WORKRadu arrives at the office early to get a headstart on his work

TIME FOR AN ESPRESSO An espresso helps Radu perk up before hismorning meetings

MORNING PHONE CALLSIt’s time to return messages and catch-up with colleagues

LUNCHRadu orders light fare from the local trattoria.

ECO CARRadu test drives sustainable means oftransportation on his way back to work.

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7h00 7h30 8h00

10h00 12h00 13h00

Online

Of Romanian decent, Radu Tutos enjoys being a father, spending time with his friends and supporting the arts. He brings a worldly perspective to the EDPR NA team

TEAM MEETING Radu meets with his department to discussshared projects. There is nothing liketeamwork.

POWERFUL SIGNATURERadu signs landowner payments.

THERE’S NO PLACE LIKE HOMEAfter a long but productive day, Radu heads home.

14h20 15h00 20h00

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Jeffery (Jeff) Bishop, corporate development manager ofEDPR North America’s Corporate Development

Department, joined EDPR NA, then Horizon Wind Energy, in2006 in Houston, Texas. Jeff’s current position at EDPR NAwas created in December 2009. “Overall, I ensure the alignment of EDPR NA’s organizationalmodel, processes and structure with its strategy,” Jeffexplained. “On a day-to-day basis, this means meeting withpeople and helping them document how they work.”The corporate development department aims to help withthe achievement of EDPR NA’s objectives through theimprovement, management and control of essentialbusiness processes. The department supports businessfunctions and helps define how they operate internally.Jeff began his journey with EDPR NA in the FinanceDepartment in 2006. He moved to Project Development in2007 and briefly worked as the special projects manager inFinancial Planning and Controls in 2008 in Madrid. In 2009,Jeff worked as the special projects manager, supporting theefforts of the EDPR NA’s chief operating officer.“I am able to go back and forth between quantitative and

qualitative roles, and I have a unique subset of EDPRNA/Horizon knowledge that is useful in my current role,” Jeff said.Jeff’s favorite part about working at EDPR NA is his co--workers, who challenge and support him. He has grownwith EDPR, which has quadrupled in size. Born on a small family farm in western Pennsylvania, Jeffgrew up raising pigs, sheep and chickens. “I’ve been attracted to renewable energy for years because it is one of the best ways to positively impact ruraleconomies,” Jeff said. “If I can help small family farms getanother revenue stream in the form of wind royaltypayments – allowing their farms to stay solvent, andcreating jobs and opportunities for their children – then I can count this as a life well lived.”After graduating from college with an electrical engineeringdegree, Jeff was a Thomas J. Watson Fellow, researchingrenewable energy failures in sub-Saharan Africa. He beganhis career in the wind sector in 2002 in Casablanca, workingfor an American wind developer who was trying to erectMorocco’s first utility-scale wind farm.

onpeopleGet to know your colleagues better

Jeffery (Jeff) Bishop· CORPORATE DEVELOPMENT MANAGER, EDPR NORTH AMERICA

He has grown with EDPR, which has

quadrupled in size

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Roberto Flecha joined the EDPGroup’s Hidrocantábrico in 2004

as the collaborative tools agent.Renewable energy has alwaysinterested Roberto, so the opportunityto work with EDPR in August 2009 was very appealing.Roberto has alsoalways been fascinated by high tech."My uncle provided me with my firstcomputer" Roberto said. This giftignited his passion.Currently, Roberto’s duties at EDPRinclude supporting information and

communications technologies. Also, he coordinates the help desk andensures that all information systems in the company are operating properly.In addition, Roberto is always willing to lend a hand to a colleague in need. Roberto embraces EDPR's young staff and the dynamics of the new and innovative projects. His advice for new employees is to learn as much as possible. Also, he tells themnever to be afraid of making a mistake.“Nobody is born knowing everything."

The effort and dedication of our employees allow us to excel as a group. In each issue, we highlight employees who havedemonstrated diligence in their work at EDP

Roberto Flecha· INFRASTRUCTURE MANAGER (IT), EDPR EUROPE

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ontopAconselhamento para gestão

Four key ideas from veteran management consultant, trainer andbest-selling author David Allen

1.Write it down.

– Write down everything

before processing it into a set of lists.

3.Do it now.

– If a task can be done in

two minutes, do it right

away.

“We could all use help when it comes

to managing e-mail,projects and time”.

David Allen

2.Break it out.

– Make lists ofgranular steps,

or “nextactions”.

4.File it away.

– A good filingsystem, for paper

and e-mails, isessential.

Source: McGregor, J. (August 14, 2008). “Getting Serious About Getting Things Done”. Business Week.

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ontarget

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I am confident that we can strive to be the“best in class,” a clear trailblazer in the in-dustry. This statement might seem obviousto many, however in my particular case,having started my work with renewable en-ergy at EDP in 2001, it always amazes meto remember how thecompany has grown.The first EDPR team consisted of 15 peopleworking in Portugal with around 40megawatts (MW) in operation. So, how didwe get to where we are today? The answer to this question can be foundin EDPR’s incredible growth. Fuelled by de-velopment, construction and operationalexpertise and a successful integration oftop quality local platforms, EDPR has be-come a profitable and globally recognizedbusiness. EDPR grew because of its forward thinkingvision concerning the potential of the wind

energy business. The company succeededdue to a well planned and well executedstrategy, and a capacity to understand andutilize important value drivers of the busi-ness such as focused and controlledgrowth; economies of scale and opera-tional excellence; and risk and return di-versification. The most important question is what setsEDPR apart and what is behind EDPR’ssuccess story? The individuals who work atEDPR in our dynamic and entrepreneurialculture play a significant role. The ability foremployees to take risks, make decisionsand assume final accountability has beencrucial to the success of the company. Asmall number of high quality personnelwith strong local know-how who under-stand the business helped propel the com-pany forward while allowing for the healthy

integration of new team members. EDPR has had to face unique challenges indifferent cultures and this has been key toEDPR’s successful growth story. Unlikemany traditional utilities, EDP avoided thetypical mistakes of attempting to standard-ize everything, penalizing healthy risk. Onthe contrary, EDP fosters a unique culturefor a high growth, international business,recognizing the critical role of the individualemployee within a very capital intensive in-dustry. From the junior assistant to themost senior director, EDPR understandshow important it is to have the best employ-ees in the industry, who help build and sus-tain a top performing company within a verydynamic and competitive environment.From 2001 to 2010, this has been my expe-rience. From 2010 onwards, this is my trueexpectation.

LUIS ADÃO DA FONSECA, Chief Business Development Off icer

“The ability for employees to take risks,make decisions and assume final

accountability has been crucial to thesuccess of the company”

Luis Adão da Fonseca

EDP Renewables is the third largest windenergy company in the world with morethan 6.2 gigawatts (GW) of installed windcapacity in more than 10 countries andthree continents.

The company has over 700 peoplerepresenting 14 different nationalities: atrue international and diversified culture.

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On target

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onchangeEmployees with the courage to change

EDPR continues to demonstrate its commitment to promoting employee mobility,even during the current economic climate. Senior management truly aims to de-velop its employees globally and groom them to be outstanding business leaders.

Elaine’s move was prompted by EDPR in an effort to coordinate the alignment of themultiple human resources projects affecting the various platforms. Elaine also had adesire to work abroad in international human resources. As the company has undergo-ne tremendous growth, she has had the opportunity to work on various projects for all ofEDPR’s platforms. Her transfer to Madrid seemed to be the logical next step for her ca-reer path at the company.

Upon arriving in Spain, Elaine quickly realized that her new colleagues would be herfamily away from home. During her time in Madrid, they have all been very helpful andwelcoming. “My experience in Spain has been wonderful and I have enjoyed every bit ofworking with people from a different cultures, "Elaine said". Once I learned to relate tothe locals, I began to realize my own personal growth – such as soft skills and relations-hip skills. This has had a positive effect on my performance at work.

Cross-platform transfers benefit EDPR by helping employees learn how to work withcolleagues from different ethnic backgrounds. It also helps employees to gain new insightsinto the differences and similarities among the company’s platforms. In her new positionin Madrid, for example, Elaine has achieved a better understanding of other cultures.

Transferring has enhanced Elaine’s ability to share best practices with her colleagues.Keeping in mind the cultural differences, Elaine helped implement a new onboardingprocess similar to the process used in the North American platform. In addition, Elainebrought the practice of structured summer internship programs to the European plat-form. These programs involve onboarding and interviews both during and after comple-tion as well as the possibility that interns will be hired. Also, working with colleagues ofdifferent cultural backgrounds has taught Elaine that there is more than one approachto solving a problem. The European platform may have a fresh take on problem solving

that the North American platform can use to aid in efficiency or vise versa. As EDPR is ina state of constant growth, employees strive to work together to have the most success-ful outcome possible. While there are often language barriers and time differences tocontend with when working across platforms, the situation benefits all parties involved.

Although working in Spain has been a positive experience for Elaine, she still missesher family, friends and American television shows. In fact, these are the things she hasfound hardest to leave behind. Her best advice for others employees transferring to otherEDPR platforms is to – “take the challenge as an adventure of a lifetime – whether thingsgo well or not. Remember to make friends with the locals and do not live in a vacuum;build your social web. Most importantly: Be flexible!”

Elaine transferred from the EDPR North America’s corporate office in Houston, to theEuropean corporate holding office in Madrid. Her two-year assignment has aided her personalgrowth as well as increased her knowledge of both EDPR platforms

ELAINE CARRASCO

“Most importantly: Be flexible!”

Human ResourcesManager

Elaine’s love of cooking has been tested while in Spain, thanks to her two-burner “camper”stove and convection oven. Her appliances havebeen known to ruin a meal, yet Elaine can often befound laughing at the follies of a foreign kitchen.Her laughter is not only non-stop; it is contagious.No matter where in the world you put her, Elaineis sure to share her laughter with others.

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ontrack

New Wind Farm in Brazil

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The ground-breaking ceremony of EDP Renovaveis’ third wind farmin Brazil, located in the port city of Tramandai, took place on March24, 2010. Named Tramandai wind farm, this investment will have aninstalled capacity of 70 megawatts (MW) and generate approximate-ly 211,437 megawatt hours (MWh) per year, enough to power a cityof roughly 200,000 people.At project completion, estimated for the end of this year, EDPR willhave a total wind power generation capacity of 84 MW, 13.8 MW ofwhich corresponds to two already operational parks in the state ofSanta Catarina.Located in the south of the city, in an area of 832 hectares (2,056acres), the wind farm will create nearly 1,000 jobs during peak con-

struction, when the access roads, foundations, towers, substationand transmission lines are built.After a two-year process, EDPR has now obtained the required reg-ulatory permits, including provisions for the protection of migratorybirds and the preservation of native flora and fauna.The Tramandai wind farm strengthens the EDP Group’s firm, strate-gic commitment to wind power and responds to its Brazilian parentcompany’s need for clean energy to complement hydro-electric andthermal energy production. As Brazil's economy grows, the countrywill need new alternative energy sources. Besides being environmen-tally friendly, renewable energies such as wind power can reduce con-siderably Brazil’s dependency on foreign energy.

As Brazil's economy grows, the country will need new alternative energysources. EDPR's Tramandaí wind farm will respond to that challenge

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We are EDP

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EDPR NA’s newly established Government Af-fairs Department, led by Roby Roberts, wascreated to monitor and influence local, stateand federal regulatory policy and regionaltransmission initiatives. Staff members are cu-rrently working to extend state and federal in-centives for renewable energy, enable trans-mission development and construction, andmaintain the positive public image of the windindustry. The team includes Senior ManagerTanuj Deora, who transferred to GovernmentAffairs in March 2010.

Government Affairsmonitors andinfluences local,state and federalregulatory policyand regionaltransmissioninitiatives

EDP Renováveis North America supports endangered species in the U.S.

EDPR NA’s EnvironmentalAffairs Department iscurrently engaged inindustry-wide collaborationon strategies for theprotection and preservation of threatened or endangeredspecies in the United States.Led by Director Rene Braud,the team includesEnvironmental ManagersChristina Calabrese, DannaSmall, and Derek Rieman;Environmental SpecialistEmily Todd andEnvironmental Analyst ChrisGoldsberry. They are taskedwith establishing andexecuting the environmentalpolicies and standards ofEDPR NA’s projects.

Strategies for the protection and preservation of threatened or endangered species in the United States.

211,437 MWhTramandai wind farm will have an installed capacity of 70 MWand generate approximately 211,437 MWh per year, enough to power a city of roughly 200,000 people.

EDPR NA’s Environmental

Affairs Department


A new corporate website[www.eprenovaveis.com] wasdesigned to be the point ofreference for company activity foremployees, shareholders, industryprofessionals and clients. Thecontent has been streamlined,making it easier for users tobrowse the site and accessinformation. The design featuresan animated banner depictingnature scenes and next-generationwind turbines working together inharmony. Along with the newwebsite, EDPR also launched anonline platform that allows usersworldwide to discuss and sharetheir experiences on issuesrelated to the environment. CalledSave As, www.save-as-org, thistool lets everyone participate andlearn about public and privateinitiatives that contribute toprotecting the environment. Apartfrom a news and video section, theportal includes discussion forumsin which users can participate andshare ideas.

We are EDP

EDPR launches new website and sustainability portal

The portal includesdiscussion forums in which all users can participate andshare their ideas

v

The EDPR NA Power Marketing andOrigination Department is currentlyfocused on securing long-term powerpurchase agreements. Part of the EMGgroup, the team engages in theorigination, structuring, negotiation, andexecution of all energy sales contracts,manages customer relationships, andseeks and analyzes competitive marketintelligence. Steve Irvin, director oforigination and market operations, leadsthe department and is supported by staffmembers Matt Duffy, Tommy Greer,Heather Wong and Eric Eckenrod.

Power Marketingand Origination focuson obtaining PPAs

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We are EDP

Shareholder Meeting in Oviedo

Each EDPR shareholder is entitled torepresentation at this annual meeting,and more than 80 percent of theshareholders [defined by capital]attended or were represented at themeeting. In addition, all the proposalsfrom the agenda were approved by amajority of the shareholders (rangingfrom 98 to 100 percent of the presentand represented share capital.) For the

first time in EDPR’s history, a websitewas launched to host a digital versionof the annual report.(2009annualreport. edprenovaveis.pt/).The EDPR 2009 Annual Report sitegives shareholders access toinformation and key data related to thecompany’s performance in 2009.

On April 13th, EDPR held its meeting at corporateheadquarters in Oviedo, Spain. Shareholders analyzed andapproved the 2009 Annual Accounts and Annual ShareholderReport.

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From April 20 to 23, 2010, the most prominent financiers in the wind energy sector atten-ded the annual European Wind Energy Conference in Warsaw. For the first time in its his-tory, EDPR was the leading sponsor of the conference, which is organized by the EuropeanWind Energy Association. Joao Pedro Summavielle, financial director of EDP Renovaveis,participated in a finance panel. To increase EDPR brand awareness in Poland, one of the most significant emerging mar-kets in Europe, the company distributed 10,000 branded water bottles water bottles to all ofthe attendees.

EDP RenováveisSponsors EWEC 2010


Documents

EDP ON 17 - Makes its move to the sea