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Iberdrola Renewables and PPM Energy Name Two New Officers in Renewable Energy Business

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March 26, 2008

PORTLAND, Ore. – PPM Energy and Iberdrola Renewable Energies USA have named two executives to its joint North American renewable energy business development efforts. Don Furman will now serve as Senior Vice President for Development, Transmission, and Policy, and Rany Raviv will become Vice President of Business Development and Mergers and Acquisitions.

Furman will be responsible for North American development and continue to support transmission and public policy efforts. He will oversee all development activities relating to the wind business as well as transmission rights, and continue to lead relationship management with government, regulators, and organized markets. Raviv will report to Furman and oversee organic renewable business development while continuing to manage the renewable mergers and acquisition activities in North America. Raviv will relocate to Portland, OR, in the summer of 2008.

Furman has served as a Senior Vice President at PPM Energy, an integrated energy developer and marketer since 2005. Previously, he served in various capacities at PacifiCorp, most recently as Senior Vice President of Regulation and External Affairs. He also held senior management positions in transmission, and mergers and acquisitions. Prior to joining PacifiCorp, Furman was a Senior Vice President of Citizens Lehman Power