ENDESA Starts the Construction of Three New Wind Farms In Soria.

Energy Editors/Business Editors

NEW YORK--(BUSINESS WIRE)--Oct. 28, 2003

ENDESA (NYSE:ELE) starts the construction of three new wind farms in Soria. The total investment will exceed Euro 45 million. The estimated annual generation is 151 GWh and will increase in 47.2 MW the eolic installed capacity of ENDESA Cogeneracion y Renovables (ECYR) in Soria which will reach 170 MW.

The start up of these three projects, expected for September 2004, fall within the 2002-2006 Strategic Plan, particularly in ENDESA's Eolic Plan for Castilla y Leon, which targets to develop 438 MW of wind capacity.

To date, ENDESA has in operation 1,170.5 MW in renewable energies. In five years, following ENDESA's 2002-2006 Strategic Plan, an additional 2,000 MW will be added.

At the end of the current year, ECYR will have 1,954 MW of installed capacity in facilities under Special Regime, including those under construction. Of this amount, 1,468 MW correspond to renewable energies and 468 MW to co-generation and waste treatment.

ENDESA's total renewables and co-generation production at the end of 2003 will amount to 6,367 GWh approximately, an expected 26% increase over 2002.

ENDESA currently has wind farms in operation totalling 812 MW and facilities under construction for an additional 313 MW, allowing the company to enjoy an 18% market share in Spain.