President´s letter

Dear reader,

Gestamp Wind is part of the Corporación Gestamp group. As part of this multinational corporation and under the Gestamp Renewables umbrella, we develop our energy activity focusing on design, construction, promotion, and generation of renewable energies through our three divisions: Gestamp Solar, Gestamp Wind, and Gestamp Biomass.

We are aware of the importance of adopting an ethical and transparent attitude based on communication with our stakeholders. As proof of this commitment, we have elaborated this second Sustainability Report.

This Report offers a balanced and accurate vision of our financial, environmental and social results in the financial year 2014. Besides, this year we have renewed our backing and support of the UN Global Compact.

Nowadays, we are witnessing a worldwide evolution towards new sustainable energy models which are allowing the fulfillment of the growing energy demand through energy with low environmental impact, without CO2 emissions, and with capacity to be established in remote locations, being independent of natural fossil resources.

As we establish in new locations, we attempt to créate value in local communities through socioeconomic development activities which will contribute to improving their life conditions and their future prospects. We highlight our plans developed in South Africa focused on the region’s needs, especially in the case of the most vulnerable groups.

Our human team is our company’s driving force so this year we have focused on reinforcing our corporate culture, and widening educational initiatives to develop their talent. One of the most outstanding actions was the launch of the Ethics and Conduct Code which, along with online training, allowed our employees to get to know it in depth, and formalize their compliance commitment.

Finally, I want to thank your trust and your contribution to the development of this project of which we are part, and I hope you enjoy reading this Report.

-Jon Riberas

President


CEO's letter

We want to welcome you to Gestamp Wind’s second Sustainability Report.

It gathers the most relevant and outstanding information from the 2014 financial year embedded in our culture, values and principles. This report represents to us an exercise of communication and transparency, gathering our main results and initiatives. Just as it was the case in the last financial year, this report has been elaborated following the directives established by the Global Reporting Initiative GRI 3.1 to offer balanced, transparent and truthful information, externally reviewed by an independent body.

At Gestamp Wind, we continue growing in a sustainable way, creating value for our shareholders by our production of renewable energy, and our fight against climate change, thus contributing to the creation of local jobs, wealth and development in all the regions where we are present.

We keep looking for new challenges and opportunities in the intricate context where we find ourselves, as it is shown by the progress of our results, and the rise and diversification of our activity. We are growing and investing in those countries whose energy policies and regulatory stability support the development of renewable energy.

In 2014, our first wind farm in South Africa (Noblesfontein farm) has started operations with 73.8 MW of installed power, and a cost of 120 million euros. On the other hand, we have begun the construction of a new farm in Poland, two in Belgium, two in Turkey, and two mini hydro power plants in Mexico.

It is also worth mentioning our presence in Brazil as one of the largest emerging markets, with twelve new farms in-progress. With these farms, Gestamp Wind reaches the figure of 425 MW of wind generation with long-term power sales contracts in Brazil, out of which 112 MW are already operating, 128 MW that will begin their activity at the start of 2015, and the remaining ones which will successively begin operations in the next three years.

We continue improving and increasing our capacity to monitor and control our power production in real time via our Control Center of Renewable Energies (CCER) which jointly works with the operations and maintenance department in order to maximize our production and minimize our expenses.

Quality, safety, health, and the environment are part of our strategy through our Integrated Management System. We contribute to the fight against climate change by generating clean energy. During the present financial year, we have avoided the emission of 464,952 tons of CO2 to the atmosphere.

Our goal is to keep working in the same line by strengthening our corporate culture, our ethical commitment of transparency, as well as our supply chain management and our commitment to promote development in the communities where we are present.

Finally, I want to acknowledge the effort, commitment and work of our professionals. We are working toward a better future.

For all these reasons, it is our pleasure to present this report which we positively believe will be of your interest.


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Our Organization and Sustainability

Gestamp Wind was founded at the end of 2007 with the goal of developing, constructing, maintaining, and operating wind farms, including the sale and marketing of energy in the main markets of the world. It aspires to be a leader company in its sector.

Index

1. Our organization and sustainability

  • About us
  • Gestamp Wind governance
  • Our corporate culture
  • Global presence
  • Sustainability master plan
  • Our stakeholders


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Performance

Our mission is to satisfy the global needs of our clients by taking into account their activity, employee safety and respect for the environment.

Index

2. Performance

  • Our product: wind power
  • Global context
  • Our business model
  • Balance sheet
  • Our growth in 2014
  • Quality and innovation
  • Clients and suppliers
  • Management and risk framework
  • Key investment highlights


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Planet

The environment is a strategic aspect for our company and we consider the environmental impact of our wind farms for their planning and design.

We perform the annual monitoring of our environmental performance. This monitoring supports us in making decisions and allows us to detect environmental improvement areas.

Index

3. Planet

  • Our environmental management
  • Energy
  • Our contribution regarding climate change
  • Wind energy and climate change
  • Impact of our installations on the environment
  • Biodiversity


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People

Our team consists of people who share our culture and values, and whose ideas and work contribute to the development of our company promoting competitiveness and productivity.

Index

4. People

  • Our Professionals
  • Working practices and communication
  • Training and talent retention
  • Health & Safety: our management


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Society

Our projects allow a higher and better economic and social development in the communities where we operate, boosting rural development and contributing to minimizing inequality among regions.

Index

5. Society

  • A boost to the local economy
  • Creating value in local communities
  • Relationships with local administrations
  • Industry associations


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Annex

This report has been made in accordance with the directives of the Global Reporting Initiative (GRI) in its 3.1 version, and in compliance with the Ten Principles established by the UN Global Compact.

This report contains information regarding our performance, our main socioeconomic, environmental impacts, and the opinion of our stakeholders, which are reflected on our materiality study during the financial year 2014. Our intention is to publish this report on a yearly basis.

Index

Annex

  • Scope and coverage of the Report
  • Independent Review Report
  • GRI Index
  • Contents related to the Principles of the UN Global Compact