Corporate Governance System

Iberdrola Renovables Energía, S.A.U., as head of business companies of the Iberdrola Group headquartered in Spain that pursues the deregulated activities in electricity generation and commercialization of electric power through renewable energy sources, holds the corresponding executive responsibilities, taking charge of the day-to-day management and effective administration of the business, as well as its ordinary control, through its Board of Directors and its management bodies.

In discharging these responsibilities and in the exercise of its decision-making powers, Iberdrola Renovables Energía, S.A.U. has approved its own By-Laws and Governance Rules of the Corporate Decision-Making Bodies and of the Internal Committees, and its competent bodies have adopted the Introduction to the Corporate Governance System [PDF], the Introduction to the Purpose and Values and the Code of Ethics [PDF], as the Purpose and Values of the Iberdrola group and the Code of Ethics, the Corporate Policies and rules of Compliance that make up the Corporate Governance System of Iberdrola, S.A., as well as the specific rules or regulations to implement or supplement it.

Iberdrola, S.A. maintains a continuously updated Corporate Governance System, which is the set of documents made up of the By-Laws, the Purpose and Values of the Iberdrola group and the Code of Ethics, the Corporate Policies, the Governance Rules of the Corporate Decision-Making Bodies and of the Internal Committees and the Compliance approved by the appropriate bodies of Iberdrola, S.A. Such System has been developed taking into account the good governance recommendations generally recognized in international markets.