INDEPENDENT AUDITOR’S REPORT
Ernst & Young, S.L. was appointed auditor of IBERDROLA RENOVABLES, S.A. and of IBERDROLA RENOVABLES, S.A. and its Consolidated Group pursuant to resolutions adopted at the General Shareholders’ Meeting held on June 26, 2008, following a proposal of the Audit and Compliance Committee of the Board of Directors of IBERDROLA RENOVABLES, S.A. dated May 20, 2008.

The criteria for appointing and hiring the auditor, as well as the supervisory powers of the Audit and Compliance Committee, are contained in the “Annual Corporate Governance Report of IBERDROLA RENOVABLES, S.A.” for fiscal year 2008.



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