These IBERDROLA RENOVABLES Consolidated Annual Accounts, corresponding to 2008, are published according to the requirements of the International Financial Reporting Standards (IFRS), as approved by the European Union, in conformity with EC Regulation 1606/2002 of the European Parliament and Council. The accounts express, in all their important aspects, the true nature of the consolidated assets and financial situation of IBERDROLA RENOVABLES S.A. and dependent companies as at 31 December 2008.