Wind Energy

Acciona Buys Out Wind-Energy Pioneer Esteban Morras for ?42.5 Million

A pioneer in Spanish wind energy, Morras co-founded Corporacion Energia Hidroelectrica de Navarra SA, one of the country’s earliest wind turbines and wind farm operators, which was sold in 2003 to Acciona, then largely a construction company.

Esteban Morrás worked for years as general manager of Acciona’s wind power unit and resigned from the board on June 4 last year. His investment in 1996 was 1.9 million euros, for which he received the right to 1.4 percent of profits.

His severance from the units, Acciona Energia SA and Acciona Windpower SA, was described on page 71 of the parent company’s 72-page corporate responsibility report for 2009.

Esteban Morrás, who formerly led the Energy Division, has submitted his resignation for personal reasons. The Board of Directors wishes to publicly express its thanks to Mr. Morrás for his outstanding contribution.

In a meeting at ACCIONA’s corporate headquarters, the company’s Board of Directors approved top management changes and the creation of new management units. The changes at ACCIONA are part of its strategic reorganization, which also includes a new Positioning & Branding campaign (called “Plan Re_”) and the definition of the company’s Business Plan 2009-2013.

Carmen Becerril, who has been heading ACCIONA’s Corporate Resources Department, will be appointed President of the Energy Division. Esteban Morrás, who formerly led the Energy Division, has submitted his resignation for personal reasons. The Board of Directors wishes to publicly express its thanks to Mr. Morrás for his outstanding contribution.

www.acciona.es/