**Exhibit 8.1**

***APPENDIX I: Endesa Group companies***

| ** **                                                | ** ** | **% Of Ownership   At 31/12/06** | ** ** | **% Of Ownership   At 31/12/05** | ** ** | ** **                | ** ** | ** **                                  | ** ** | ** **                | ** ** |
|-----------------------------------------------------------|------------|-------------------------------------------------|------------|-------------------------------------------------|------------|---------------------------|------------|---------------------------------------------|------------|---------------------------|------------|
| **Company**                                               | ** ** | ** **                                      | ** ** | **% Of Voting   Power Held**     | ** ** | **% Of   Ownership** | ** ** | **% Of Voting   Power Held** | ** ** | **% Of   Ownership** | ** ** | **Location** | ** ** | **Line Of Business** | ** ** | **Auditor(*)** | ** ** |
| Aguas Santiago  Poniente                                  |       |                                            | 78.9       |                                            |       |                      | 33.3       |                                        |       |                      | 55.0       |   |   |   | 33.3 |   |   | Santiago (Chile) |   | Health  services |   |   | DT |   |   |
| Almussafes  Servicios Energéticos, S.L.              |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Barcelona (Spain) |   | Management  and maintenance of a combined heat and power plant |   |   | EY |   |   |
| Ampla Energía  Servicios, S.A.                       |       |                                            | 91.9       |                                            |       |                      | 55.1       |                                        |       |                      | 91.9       |   |   |   | 55.6 |   |   | Rio de Janeiro (Brazil) |   | Electricity  production, transmission and distribution |   |   | DT |   |   |
| Ampla  Investimentos E Servicos, S.A.                     |       |                                            | 91.9       |                                            |       |                      | 55.1       |                                        |       |                      | 91.9       |   |   |   | 55.5 |   |   | Rio de Janeiro (Brazil) |   | Electricity  production,  transmission and  distribution |   |   | DT |   |   |
| Andorra  Desarrollo, S.A.                                 |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Teruel (Spain) |   | Regional  development |   |   | — |   |   |
| Apamea 2000, S.L.                                         |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Madrid (Spain) |   | Electricity-related  activities |   |   | — |   |   |
| Aragonesa de Actividades Energéticas, S.A.           |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Teruel (Spain) |   | Electricity  production |   |   | — |   |   |
| Bioaise ,S.A.                                             |       |                                            | 95.0       |                                            |       |                      | 95.0       |                                        |       |                      | 95.0       |   |   |   | 95.0 |   |   | Cartagena (Colombia) |   | Production,  purchase, sale and retailing of power |   |   | DT |   |   |
| Biowatt-Recursos  Energéticos Ltd.                   |       |                                            | 51.0       |                                            |       |                      | 51.0       |                                        |       |                      | 51.0       |   |   |   | 51.0 |   |   | Porto (Portugal) |   | Marketing  of projects relating to renewable energy resources |   |   | DT |   |   |
| Bolonia Real  Estate, S.L.                                |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Madrid (Spain) |   | Real  estate asset management and development |   |   | — |   |   |
| Cam Brasil  Multiservicios Ltda.                          |       |                                            | 100.0      |                                            |       |                      | 60.6       |                                        |       |                      | 100.0      |   |   |   | 60.6 |   |   | Rio de Janeiro (Brazil) |   | Purchase  and sale of electricity- related products |   |   | DT |   |   |
| Carboex ,S.A.                                             |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Madrid (Spain) |   | Fuel  supply |   |   | DT |   |   |
| Carbones de Berga, S.A.                                   |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Barcelona (Spain) |   | Extraction  and storage of hard coal |   |   | — |   |   |
| Carvemagere.  Manutençao E Energias Renovaveis, LDA. |       |                                            | 65.0       |                                            |       |                      | 65.0       |                                        |       |                      | 65.0       |   |   |   | 65.0 |   |   | Barcelos (Portugal) |   | Combined  heat and power production |   |   | DT |   |   |
| Centrais  Eléctricas Cachoeira Dourada, S.A.         |       |                                            | 99.6       |                                            |       |                      | 59.3       |                                        |       |                      | 99.6       |   |   |   | 60.7 |   |   | Goiania (Brazil) |   | Electricity  production and retailing |   |   | DT |   |   |
| Central Dock Sud, S.A.                                    |       |                                            | 70.0       |                                            |       |                      | 40.0       |                                        |       |                      | 69.8       |   |   |   | 39.9 |   |   | Buenos Aires (Argentina) |   | Electricity  production, transmission and distribution |   |   | DT |   |   |
| Central Geradora Termelétrica Fortaleza, S.A.        |       |                                            | 100.0      |                                            |       |                      | 59.5       |                                        |       |                      | 100.0      |   |   |   | 61.0 |   |   | Ceará (Brazil) |   | Performance  of a fossil- fuel electricity production project |   |   | EY |   |   |
| Central Hidroeléctrica  de Betania, S.A.E.S.P.       |       |                                            | 100.0      |                                            |       |                      | 36.4       |                                        |       |                      | 85.6       |   |   |   | 31.1 |   |   | Neiva (Colombia) |   | Electricity  production |   |   | DT |   |   |
| Centro Energía  Ferrara S.p.A.                       |       |                                            | 58.4       |                                            |       |                      | 58.4       |                                        |       |                      | —     |   |   |   | — |   |   | Milan (Italy) |   | Combined  heat and power production and sale |   |   | — |   |   |
| Centro Energía  Teverola S.p.A.                      |       |                                            | 58.4       |                                            |       |                      | 58.4       |                                        |       |                      | —     |   |   |   | — |   |   | Milan (Italy) |   | Combined  heat and power  production and sale |   |   | — |   |   |
| Chilectra  Inversud, S.A.                                 |       |                                            | 100.0      |                                            |       |                      | 60.1       |                                        |       |                      | 100.0      |   |   |   | 59.6 |   |   | Santiago (Chile) |   | Holding  company |   |   | KPMG |   |   |
| Chilectra, S.A.                                           |       |                                            | 99.1       |                                            |       |                      | 60.1       |                                        |       |                      | 98.3       |   |   |   | 59.6 |   |   | Santiago (Chile) |   | Ownership  interests in companies of any kind |   |   | DT |   |   |
| Cogeneración  Delter, S.L.                           |       |                                            | 69.0       |                                            |       |                      | 69.0       |                                        |       |                      | 69.0       |   |   |   | 69.0 |   |   | Barcelona (Spain) |   | Combined  heat and power |   |   | EY |   |   |
| Comercializadora de Energía del Mercosur, S.A.       |       |                                            | 100.0      |                                            |       |                      | 71.4       |                                        |       |                      | 100.0      |   |   |   | 71.4 |   |   | Buenos Aires (Argentina) |   | Wholesale  purchase and sale of electricity |   |   | DT |   |   |
|                                                           |            |                                                 |            |                                                 |            |                           |            |                                             |            |                           |            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

----

 

| Companhia  Energética do Ceará, S.A.                             |   |   | 58.9  |   |   |   | 34.1  |   |   |   | 58.9   |   |   |   | 34.8   |   |   | Ceará (Brasil)          |   | Complete  electricity cycle                                        |   |   | DT     |   |   |
|----------------------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|------------------------------|--------|--------------------------------------------------------------------|--------|--------|--------|--------|--------|
| Compañía Americana  de Multiservicios de Argentina Ltda.         |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0  |   |   |   | 60.6   |   |   | Buenos Aires (Argentina)     |   | Electricity  network metering, meas. calib.                        |   |   | DT     |   |   |
| Compañía Americana  de Multiservicios de Chile Ltda.             |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0  |   |   |   | 60.6   |   |   | Santiago (Chile)             |   | Purchase  and sale of electricity- related products                |   |   | DT     |   |   |
| Compañía Americana  de Multiservicios de Colombia Ltda.          |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0  |   |   |   | 60.6   |   |   | Bogota  (Colombia)           |   | Technical  calibration and metering services                       |   |   | DT     |   |   |
| Compañía Americana  de Multiservicios del Perú Ltda.        |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0  |   |   |   | 60.6   |   |   | Lima (Peru)                  |   | Purchase,  sale and distribution of electricity-related products   |   |   | DT     |   |   |
| Compañía de  Interconexión Energética, S.A.            |   |   | 100.0 |   |   |   | 59.5  |   |   |   | 100.0  |   |   |   | 61.0   |   |   | Rio de Janeiro (Brazil)      |   | Electricity  production, transmission and distribution             |   |   | EY     |   |   |
| Compañía de Transmisión del Mercosur, S.A.                  |   |   | 100.0 |   |   |   | 59.5  |   |   |   | 100.0  |   |   |   | 61.0   |   |   | Buenos Aires (Argentina)     |   | Electricity  production, transmission and distribution             |   |   | DT     |   |   |
| Compañía  Distribuidora y Comercializadora de Energía, S.A. |   |   | 48.5  |   |   |   | 43.0  |   |   |   | 48.5   |   |   |   | 44.0   |   |   | Bogota (Colombia)            |   | Electricity  distribution and retailing                            |   |   |   |   |   |
| Compañía Eléctrica  Cono Sur, S.A.                          |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Panama (Panama)              |   | Holding  company                                                   |   |   | EY     |   |   |
| Compañía Eléctrica  San Isidro, S.A.                        |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Santiago (Chile)             |   | Complete  electricity cycle                                        |   |   | EY     |   |   |
| Compañía Eléctrica  Tarapacá ,S.A.                     |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Santiago (Chile)             |   | Complete  electricity cycle                                        |   |   | EY     |   |   |
| Compañía Peruana  de Electricidad S.A.                           |   |   | 100.0 |   |   |   | 79.6  |   |   |   | 100.0  |   |   |   | 79.4   |   |   | Lima (Peru)                  |   | Holding  company                                                   |   |   | DT     |   |   |
| Compostilla Re.  S.A.                                                      |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Luxembourg (Luxembourg)      |   | Reinsurance                                                        |   |   | DT     |   |   |
| Constructora y  Proyectos Los Maitenes, S.A.                               |   |   | 55.0  |   |   |   | 33.3  |   |   |   | 55.0   |   |   |   | 33.3   |   |   | Santiago (Chile)             |   | Construction  and installation work                                |   |   | DT     |   |   |
| Coreysa  Cogeneración, S.A.                                           |   |   | 65.0  |   |   |   | 65.0  |   |   |   | 65.0   |   |   |   | 65.0   |   |   | Seville (Spain)              |   | Combined  heat and power                                           |   |   | EY     |   |   |
| Cte-Central  Térmica do Estuário, Lda.                           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)             |   | Combined  heat and power                                           |   |   | DT     |   |   |
| Desaladora de Carboneras, U.T.E.                                           |   |   | 75.00 |   |   |   | 75.0  |   |   |   | 75.0   |   |   |   | 75.0   |   |   | Almeria (Spain)              |   | Construction  and management of a desalination plant               |   |   | — |   |   |
| Distribuidora de Energía Eléctrica de Bages, S.A.                |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)            |   | Electricity  distribution and retailing                            |   |   | — |   |   |
| Distribuidora Eléctrica del Puerto de la Cruz, S.A.                   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | S. Cruz de  Tenerife (Spain) |   | Purchase,  transmission, distribution and retailing of electricity |   |   | DT     |   |   |
| Distrilec  Inversora, S.A.                                                 |   |   | 51.5  |   |   |   | 30.9  |   |   |   | 51.5   |   |   |   | 30.8   |   |   | Buenos Aires (Argentina)     |   | Holding  company                                                   |   |   | DT     |   |   |
| Edegel, S.A.                                                               |   |   | 61.1  |   |   |   | 17.6  |   |   |   | 63.6   |   |   |   | 13.8   |   |   | Lima (Peru)                  |   | Electricity  production, retailing and distribution                |   |   | EY     |   |   |
| Eed-Empreendimentos  Eólicos do Douro, S.A.                           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)             |   | Wind farm                                                          |   |   | DT     |   |   |
| Eléctrica de la Franja, S.L.                                          |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)            |   | Electricity  production                                            |   |   | — |   |   |
| Elektrocieplownia  Bialystok, S.A.                                         |   |   | 69.6  |   |   |   | 45.2  |   |   |   | 69.6   |   |   |   | 45.2   |   |   | Bialystok (Poland)           |   | Electricity  production and sale                                   |   |   | DT     |   |   |
| Emgesa, S.A. E.S.P.                                                        |   |   | 48.5  |   |   |   | 36.8  |   |   |   | 48.5   |   |   |   | 35.6   |   |   | Bogota (Colombia)            |   | Electricity  production and retailing                              |   |   | DT     |   |   |
| Empreendimientos  Eólico da Raia, Lda.                                |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)             |   | Wind farm                                                          |   |   | DT     |   |   |
| Empreendimiento  Eólico de Rego, Lda.                                 |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Porto (Portugal)             |   | Wind farm                                                          |   |   | — |   |   |

----

 

| Empreendimientos  Eólicos de Pracana, Lda.                   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Porto (Portugal)               |   | Wind farm                                                  |   |   | — |   |   |
|-------------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------------------------------|--------|------------------------------------------------------------|--------|--------|--------|--------|--------|
| Emprendimientos  Eólicos de Ribabelide, S.A.                 |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Porto (Portugal)               |   | Wind farm                                                  |   |   | DT     |   |   |
| Emprendimientos Eólicos de Viade, Lda.                       |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Porto (Portugal)               |   | Wind farm                                                  |   |   | DT     |   |   |
| Emprendimientos  Eólicos do Verde Horizonte, S.A.            |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Porto (Portugal)               |   | Wind farm                                                  |   |   | DT     |   |   |
| Empresa Carbonífera del Sur, S.A.                            |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Madrid (Spain)                 |   | Exploitation  of coal fields                               |   |   | EY     |   |   |
| Empresa de Distribución Eléctrica de Lima Norte, S.A.A. |   |   | 60.0  |   |   |   | 38.3  |   |   |   | 60.0  |   |   |   | 38.3  |   |   | Lima (Peru)                    |   | Electricity  distribution and retailing                    |   |   | DT     |   |   |
| Empresa de Ingeniería Ingendesa, S.A.                        |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0 |   |   |   | 36.4  |   |   | Santiago (Chile)               |   | Engineering  services                                      |   |   | EY     |   |   |
| Empresa Distribuidora Sur, S.A.                                   |   |   | 99.4  |   |   |   | 45.9  |   |   |   | 99.4  |   |   |   | 45.7  |   |   | Buenos Aires (Argentina)       |   | Electricity  distribution and retailing                    |   |   | DT     |   |   |
| Empresa Eléctrica  Cabo Blanco, S.A.                         |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0  |   |   | Lima (Peru)                    |   | Holding  company                                           |   |   | DT     |   |   |
| Empresa Eléctrica de  Colina Ltda.                           |   |   | 100.0 |   |   |   | 60.1  |   |   |   | 100.0 |   |   |   | 59.6  |   |   | Santiago (Chile)               |   | Complete  energy and similar materials cycle               |   |   | KPMG   |   |   |
| Empresa Eléctrica de Piura, S.A.                             |   |   | 60.0  |   |   |   | 48.0  |   |   |   | 60.0  |   |   |   | 48.0  |   |   | Lima (Peru)                    |   | Electricity  production                                    |   |   | DT     |   |   |
| Empresa Eléctrica  Pangue, S.A.                              |   |   | 100.0 |   |   |   | 39.5  |   |   |   | 100.0 |   |   |   | 39.5  |   |   | Santiago (Chile)               |   | Complete  electricity cycle                                |   |   | EY     |   |   |
| Empresa Eléctrica  Pehuenche, S.A.                           |   |   | 92.6  |   |   |   | 33.7  |   |   |   | 92.6  |   |   |   | 33.7  |   |   | Santiago (Chile)               |   | Complete  electricity cycle                                |   |   | EY     |   |   |
| Empresa Nacional de  Electricidad, S.A.                           |   |   | 60.0  |   |   |   | 36.4  |   |   |   | 60.0  |   |   |   | 36.4  |   |   | Santiago (Chile)               |   | Complete  electricity cycle                                |   |   | EY     |   |   |
| Endesa Argentina,  S.A.                                           |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0 |   |   |   | 36.4  |   |   | Buenos Aires (Argentina)       |   | Holding company                                            |   |   | DT     |   |   |
| Endesa Brasil  Participaçoes Ltda.                           |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0 |   |   |   | 36.4  |   |   | Rio de Janeiro (Brazil)        |   | Holding company                                            |   |   | — |   |   |
| Endesa Brasil,  S.A.                                              |   |   | 97.3  |   |   |   | 59.5  |   |   |   | 100.0 |   |   |   | 61.0  |   |   | Rio de Janeiro (Brazil)        |   | Holding company                                            |   |   | DT     |   |   |
| Endesa Capital  Finance, L.L.C.                                   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Delaware (USA)                 |   | Issuance  of preference shares                             |   |   | DT     |   |   |
| Endesa Capital,  S.A.                                             |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Madrid (Spain)                 |   | Issuance  of debt instruments                              |   |   | DT     |   |   |
| Endesa Chile  Internacional                                       |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0 |   |   |   | 36.4  |   |   | Grand Cayman (Cayman  Islands) |   | Holding  company                                           |   |   | EY     |   |   |
| Endesa  Cogeneración y Renovables, S.A.                      |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Seville (Spain)                |   | Combined  heat and power and renewable energies            |   |   | EY     |   |   |
| Endesa Costanera,  S.A.                                           |   |   | 64.3  |   |   |   | 23.4  |   |   |   | 64.3  |   |   |   | 23.4  |   |   | Buenos Aires (Argentina)       |   | Electricity  production and retailing                      |   |   | — |   |   |
| Endesa Distribución  Eléctrica, S.L.                    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Barcelona (Spain)              |   | Electricity  distribution                                  |   |   | DT     |   |   |
| Endesa Eco, S.A.                                                  |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0 |   |   |   | 36.4  |   |   | Santiago (Chile)               |   | Renewable energy projects                                  |   |   | EY     |   |   |
| Endesa Energía XXI, S.L.                                     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Madrid (Spain)                 |   | Services  associated with the marketing of energy products |   |   | DT     |   |   |

----

 

| Endesa Energía, S.A.                                   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Marketing of energy products                                                                 |   |   | DT      |   |   |
|-------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-------------------------|--------|----------------------------------------------------------------------------------------------|--------|--------|---------|--------|--------|
| Endesa Europa Power & Fuel S.R.L.                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Rome (Italy)            |   | Trading  operations in europe                                                                |   |   | DT      |   |   |
| Endesa Europa,  S.L.                                        |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Company  administration and management                                                       |   |   | DT      |   |   |
| Endesa  Financiación Filiales, S.A.                    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Financing  of the subsidiaries of Endesa, S.A.                                               |   |   | DT      |   |   |
| Endesa Gas Transportista, S.L.                              |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Zaragoza (Spain)        |   | Gas  regasification and storage                                                              |   |   | EY      |   |   |
| Endesa Gas, S.A.U.                                          |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Zaragoza (Spain)        |   | Complete  gas cycle                                                                          |   |   | EY      |   |   |
| Endesa Generación Portugal S.A.                        |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Lisbon (Portugal)       |   | Electricity  production and related activities                                               |   |   | DT      |   |   |
| Endesa Generación,  S.A.                               |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Seville (Spain)         |   | Electricity  production and retailing                                                        |   |   | DT      |   |   |
| Endesa Ingeniería,  S.L.                               |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Seville (Spain)         |   | Consulting  and civil engineering services                                                   |   |   | DT      |   |   |
| Endesa  Internacional Energía Ltda.                    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Rio de Janeiro (Brazil) |   | Holding company                                                                              |   |   | —  |   |   |
| Endesa  Internacional, S.A.                                 |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | International  activity of Endesa, S.A.                                                 |   |   | DT      |   |   |
| Endesa Inversiones Generales, S.A.                          |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Santiago (Chile)        |   | Holding  company                                                                             |   |   | EY      |   |   |
| Endesa Italia Power & Fuel, S.R.L.                 |   |   | 100.0 |   |   |   | 80.0  |   |   |   | 100.0  |   |   |   | 80.0   |   |   | Lazio (Italy)           |   | Energy  and fuel retailing and trading                                                       |   |   | DT      |   |   |
| Endesa Italia, S.p.A.                                       |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0   |   |   |   | 80.0   |   |   | Lazio (Italy)           |   | Holding  company                                                                             |   |   | DT      |   |   |
| Endesa  Marketplace, S.A.                                   |   |   | 78.0  |   |   |   | 72.1  |   |   |   | 78.0   |   |   |   | 72.1   |   |   | Madrid (Spain)          |   | B2B  (new technologies)                                                                      |   |   | —  |   |   |
| Endesa Network  Factory, S.L.                               |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | New  technologies                                                                            |   |   | DT      |   |   |
| Endesa North  América, Inc.                            |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | New York (USA)          |   | Endesa  investor representation office                                                       |   |   | —  |   |   |
| Endesa Operaciones  y Servicios Comerciales, S.L.           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)       |   | Provision  of services to Endesa Distribución Eléctrica and to Endesa Energía |   |   | DT      |   |   |
| Endesa  Participadas, S.A.                                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Company  management                                                                          |   |   | DT      |   |   |
| Endesa Polska  Spólka Z Ograniczona Odpowiedzialnoscia |   |   | 98.3  |   |   |   | 98.3  |   |   |   | — |   |   |   | — |   |   | Warsaw (Poland)         |   | Electricity  generation and trading                                                          |   |   | —  |   |   |
| Endesa Power  Trading Ltd.                                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | London (UK)             |   | Trading operations                                                                           |   |   | C&H |   |   |
| Endesa Red, S.A.                                            |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)       |   | Distribution  activities                                                                     |   |   | DT      |   |   |
| Endesa Servicios,  S.L.                                     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Services                                                                                     |   |   | DT      |   |   |
| Endesa Trading,  S.A.                                       |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)          |   | Trading  operations in europe                                                                |   |   | DT      |   |   |
| Enercampo-Produçao de Energía, Lda.               |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)        |   | Combined  heat and power                                                                     |   |   | DT      |   |   |
| Energética Mataró,  S.A.                          |   |   | 85.0  |   |   |   | 85.0  |   |   |   | 85.0   |   |   |   | 85.0   |   |   | Barcelona (Spain)       |   | Construction  and operation of a thermal sludge treatment plant                              |   |   | EY      |   |   |
| Energías De Aragón I, S.L.                        |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Zaragoza (Spain)        |   | Transmission,  distribution and sale of electricity under the tariff system                  |   |   | DT      |   |   |

----

 

| Energías de Aragón II, S.L.                     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Zaragoza (Spain)                |   | Electricity  production under the special regime |   |   | DT     |   |   |
|-----------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|---------------------------------|--------|--------------------------------------------------|--------|--------|--------|--------|--------|
| Energías de Graus, S.L.                              |   |   | 66.7  |   |   |   | 66.7  |   |   |   | 66.7   |   |   |   | 66.7   |   |   | Barcelona (Spain)               |   | Hydroelectric  power                             |   |   | EY     |   |   |
| Energías de la Mancha, S.A.                          |   |   | 52.0  |   |   |   | 52.0  |   |   |   | 52.0   |   |   |   | 52.0   |   |   | Ciudad Real (Spain)             |   | Bio-mass                                         |   |   | EY     |   |   |
| Enerlousado, Lda.                                         |   |   | 50.0  |   |   |   | 75.0  |   |   |   | — |   |   |   | — |   |   | Porto (Portugal)                |   | Operation  of a combined heat and power plant    |   |   | — |   |   |
| Enernisa-Produçao de Energía, Lda.              |   |   | 90.0  |   |   |   | 90.0  |   |   |   | 90.0   |   |   |   | 90.0   |   |   | Porto (Portugal)                |   | Combined  heat and power                         |   |   | DT     |   |   |
| Enersis, S.A.                                             |   |   | 60.6  |   |   |   | 60.6  |   |   |   | 60.6   |   |   |   | 60.6   |   |   | Santiago (Chile)                |   | Electricity  production and distribution         |   |   | DT     |   |   |
| Enerviz-Produçao de Energía de Vizela, Lda.     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)                |   | Combined  heat and power                         |   |   | DT     |   |   |
| Eol Verde Energía Eólica, S.A.                  |   |   | 75.0  |   |   |   | 75.0  |   |   |   | 75.0   |   |   |   | 75.0   |   |   | Porto (Portugal)                |   | Water  collection, treatment and distribution    |   |   | DT     |   |   |
| Eolcinf-Produçao de Energía Eólica, Lda.   |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Porto (Portugal)                |   | Wind  farm                                       |   |   | — |   |   |
| Eolflor-Produçao de Energía Eólica, Lda.   |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Porto (Portugal)                |   | Wind  farm                                       |   |   | DT     |   |   |
| Eólica del Noroeste, S.L.                            |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | A Coruña (Spain)           |   | Development  of wind farms                       |   |   | — |   |   |
| Eolica Valle del Ebro, S.A.                               |   |   | 50.5  |   |   |   | 50.5  |   |   |   | 51.6   |   |   |   | 51.6   |   |   | Zaragoza (Spain)                |   | Wind farms                                       |   |   |   |   |   |
| Eólicas de Agaete,  S.L.                             |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0   |   |   |   | 80.0   |   |   | Las Palmas de G.C. (Spain) |   | Wind farms                                       |   |   | EY     |   |   |
| Eólicas de Fuencaliente, S.A.                        |   |   | 55.0  |   |   |   | 55.0  |   |   |   | 55.0   |   |   |   | 55.0   |   |   | Las Palmas de G.C. (Spain) |   | Wind farms                                       |   |   | EY     |   |   |
| Eólicas de Tirajana, A.I.E.                          |   |   | 60.0  |   |   |   | 60.0  |   |   |   | 60.0   |   |   |   | 60.0   |   |   | Las Palmas de G.C. (Spain) |   | Wind farms                                       |   |   | EY     |   |   |
| Eólicas do Marao-Produçao de Energía, LDA. |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)                |   | Wind farms                                       |   |   | DT     |   |   |
| Explotaciones Eólicas de Escucha, S.A.          |   |   | 70.0  |   |   |   | 70.0  |   |   |   | 70.0   |   |   |   | 70.0   |   |   | Zaragoza (Spain)                |   | Wind farms                                       |   |   | EY     |   |   |
| Explotaciones Eólicas el Puerto, S.A.                |   |   | 73.6  |   |   |   | 73.6  |   |   |   | 73.6   |   |   |   | 73.6   |   |   | Teruel (Spain)                  |   | Wind farms                                       |   |   | EY     |   |   |
| Explotaciones  Eólicas Saso Plano, S.A.         |   |   | 70.0  |   |   |   | 70.0  |   |   |   | 70.0   |   |   |   | 70.0   |   |   | Zaragoza (Spain)                |   | Wind farms                                       |   |   | EY     |   |   |
| Explotaciones Eólicas Sierra Costera, S.A.           |   |   | 90.0  |   |   |   | 90.0  |   |   |   | — |   |   |   | — |   |   | Zaragoza (Spain)                |   | Wind farms                                       |   |   | — |   |   |
| Explotaciones Eólicas Sierra la Virgen, S.A.         |   |   | 90.0  |   |   |   | 90.0  |   |   |   | 90.0   |   |   |   | 90.0   |   |   | Zaragoza (Spain)                |   | Wind farms                                       |   |   | — |   |   |
| Fermicaise, S.A. DE C.V.                                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Mexico City (Mexico)            |   | Combined heat and power                          |   |   | EY     |   |   |
| Finerge-Gestao de Projectos Energéticos, S.A.        |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)                |   | Combined heat and power and renewable energies   |   |   | DT     |   |   |
| Gas Alicante,  S.A.U.                                     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Alicante (Spain)                |   | Distribution of  piped gas                       |   |   | EY     |   |   |
| Gas Aragón, S.A.                                     |   |   | 60.7  |   |   |   | 60.7  |   |   |   | 60.7   |   |   |   | 60.7   |   |   | Zaragoza (Spain)                |   | Gas distribution                                 |   |   | EY     |   |   |
| Gas y Electricidad Generación, S.A.U.                |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Baleares (Spain)                |   | Electricity  production                          |   |   | DT     |   |   |
| Gasificadora  Regional Canaria, S.A.                      |   |   | 65.0  |   |   |   | 65.0  |   |   |   | 65.0   |   |   |   | 65.0   |   |   | Las Palmas de G.C. (Spain)      |   | Distribution  of piped gas in the canary islands |   |   | EY     |   |   |

 

----

| ** **                                            | ** ** | **% OF OWNERSHIP   AT 31/12/06** | ** ** | **% OF OWNERSHIP   AT 31/12/05** | ** ** | ** **                | ** ** | ** **                                  | ** ** | ** **                | ** ** |
|-------------------------------------------------------|------------|-------------------------------------------------|------------|-------------------------------------------------|------------|---------------------------|------------|---------------------------------------------|------------|---------------------------|------------|
| **Company**                                           | ** ** | ** **                                      | ** ** | **% Of Voting   Power Held**     | ** ** | **% Of   Ownership** | ** ** | **% Of Voting   Power Held** | ** ** | **% Of   Ownership** | ** ** | **Location** | ** ** | **Line Of Business** | ** ** | **Auditor(*)** | ** ** |
| Generalima, S.A.                                      |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 72.5       |   |   |   | 72.5 |   |   | Lima (Peru) |   | Holding company |   |   | DT |   |   |
| Generandes Perú,  S.A.                           |       |                                            | 59.6       |                                            |       |                      | 21.7       |                                        |       |                      | 59.6       |   |   |   | 21.7 |   |   | Lima (Peru) |   | Holding company |   |   | EY |   |   |
| Gesa Gas, S.A.U.                                      |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Balearic Islands (Spain) |   | Distribution of  piped gas |   |   | EY |   |   |
| Gresaise, S.A. DE  C.V.                               |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | 100.0      |   |   |   | 100.0 |   |   | Mexico City (Mexico) |   | Combined heat and  power |   |   | EY |   |   |
| Guadarranque Solar  1, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  2, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  3, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  4, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  5, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  6, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  7, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  8, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  9, S.L. Sole-Shareholder Company  |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  10, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  11, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  12, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  13, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  14, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  15, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  16, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  17, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  18, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
| Guadarranque Solar  19, S.L. Sole-Shareholder Company |       |                                            | 100.0      |                                            |       |                      | 100.0      |                                        |       |                      | —     |   |   |   | — |   |   | Seville (Spain) |   | Electricity  production using renewable energies |   |   | — |   |   |
|                                                       |            |                                                 |            |                                                 |            |                           |            |                                             |            |                           |            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

----

 

| Hidroeléctrica de  Catalunya, S.L.                              |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)          |   | Electricity  transmission and distribution                       |   |   | DT     |   |   |
|----------------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|----------------------------|--------|------------------------------------------------------------------|--------|--------|--------|--------|--------|
| Hidroeléctrica del Serradó, S.L.                           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)          |   | Management  of mini-hydroelectric plants                         |   |   | KPMG   |   |   |
| Hidroeléctrica el Chocón, S.A.                             |   |   | 65.2  |   |   |   | 17.3  |   |   |   | 65.2   |   |   |   | 17.3   |   |   | Buenos Aires (Argentina)   |   | Electricity  production and retailing                            |   |   | DT     |   |   |
| Hidroflamicell,  S.L.                                                |   |   | 75.0  |   |   |   | 75.0  |   |   |   | 75.0   |   |   |   | 75.0   |   |   | Barcelona (Spain)          |   | Electricity  distribution and sale                               |   |   | — |   |   |
| Hidroinvest, S.A.                                                    |   |   | 69.9  |   |   |   | 25.4  |   |   |   | 69.9   |   |   |   | 25.4   |   |   | Buenos Aires (Argentina)   |   | Holding  company                                                 |   |   | DT     |   |   |
| Ibervento, S.L.                                                      |   |   | 100.0 |   |   |   | 85.0  |   |   |   | — |   |   |   | — |   |   | Valladolid (Spain)         |   | Wind  power projects and construction of wind-powered facilities |   |   | — |   |   |
| Ingendesa do  Brasil LTDA.                                           |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Rio de Janeiro (Brazil)    |   | Project  engineering consulting                                  |   |   | — |   |   |
| Inmobiliaria Manso  de Velasco LTDA.                                 |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0  |   |   |   | 60.6   |   |   | Santiago (Chile)           |   | Construction  work                                               |   |   | DT     |   |   |
| International  Endesa B.V.                                           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Amsterdam (Netherlands)    |   | International  financial transactions                            |   |   | DT     |   |   |
| Inversiones  Distrilima, S.A.                                        |   |   | 86.1  |   |   |   | 63.9  |   |   |   | 86.1   |   |   |   | 63.8   |   |   | Lima (Peru)                |   | Holding  company                                                 |   |   | DT     |   |   |
| Inversiones Endesa Norte, S.A.                                       |   |   | 100.0 |   |   |   | 36.4  |   |   |   | 100.0  |   |   |   | 36.4   |   |   | Santiago (Chile)           |   | Investment  in energy projects in Northern Chile                 |   |   | EY     |   |   |
| Investluz, S.A.                                                      |   |   | 100.0 |   |   |   | 57.9  |   |   |   | 100.0  |   |   |   | 59.0   |   |   | Ceará (Brazil)        |   | Holding company                                                  |   |   | DT     |   |   |
| Italaise, S.A. DE  C.V.                                              |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Mexico City  (Mexico)      |   | Combined  heat and power                                         |   |   | EY     |   |   |
| Luz Andes LTDA.                                                      |   |   | 100.0 |   |   |   | 60.1  |   |   |   | 100.0  |   |   |   | 59.6   |   |   | Santiago (Chile)           |   | Transport,  distribution and sale of energy and fuels            |   |   | KPMG   |   |   |
| Luz de Río LTDA.                                                |   |   | 100.0 |   |   |   | 60.3  |   |   |   | 100.0  |   |   |   | 60.0   |   |   | Rio de Janeiro (Brazil)    |   | Holding company                                                  |   |   | DT     |   |   |
| Meridional de Gas,  S.A.U.                                           |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Granada (Spain)            |   | Distribution  of piped gas in Andalucía                     |   |   | EY     |   |   |
| Micase, S.A. de C.V.                                                 |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Mexico City (Mexico)       |   | Combined  heat and power                                         |   |   | EY     |   |   |
| Minas de  Estercuel, S.A.                                            |   |   | 99.7  |   |   |   | 99.6  |   |   |   | 99.7   |   |   |   | 99.6   |   |   | Zaragoza (Spain)           |   | Mineral deposits                                                 |   |   | — |   |   |
| Minas Gargallo,  S.L.                                                |   |   | 99.9  |   |   |   | 99.9  |   |   |   | 99.9   |   |   |   | 99.9   |   |   | Zaragoza (Spain)           |   | Mineral deposits                                                 |   |   | — |   |   |
| Minas y Ferrocarril de Utrillas, S.A.                                |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)          |   | Mineral deposits                                                 |   |   | EY     |   |   |
| Nubia 2000, S.L.                                                     |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)             |   | Electricity  production                                          |   |   | — |   |   |
| Nueva Compañía de Distribución Eléctrica 4, S.L. |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)             |   | Electricity  production                                          |   |   | — |   |   |
| Paravento, S.L.                                                      |   |   | 90.0  |   |   |   | 90.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Lugo (Spain)               |   | Wind power                                                       |   |   | — |   |   |
| Parco Eolico Poggi Alti, S.R.L.                                      |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Rome (Italy)               |   | Wind power                                                       |   |   | — |   |   |
| Parco Eolico di Florinas,  S.R.L.                                    |   |   | 100.0 |   |   |   | 80.0  |   |   |   | 90.0   |   |   |   | 72.0   |   |   | Rome (Italy)               |   | Wind power                                                       |   |   | — |   |   |
| Parco Eolico Iardino S.R.L.                                          |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Rome (Italy)               |   | Wind power                                                       |   |   | — |   |   |
| Parco Eolico Marco  Aurelio Severino, S.R.L.                         |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Rome (Italy)               |   | Wind power                                                       |   |   | — |   |   |
| Parque Eólico Monte Cute S.R.L.                                 |   |   | 100.0 |   |   |   | 100.0 |   |   |   | — |   |   |   | — |   |   | Rome (Italy)               |   | Wind power                                                       |   |   | EY     |   |   |
| Parque Eólico Carretera de Arinaga, S.A.                        |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0   |   |   |   | 80.0   |   |   | Las Palmas de G.C. (Spain) |   | Wind power                                                       |   |   | EY     |   |   |
| Parque Eólico Costa Vicentina, S.A.                             |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)           |   | Wind power                                                       |   |   | DT     |   |   |
| Parque Eólico de Aragón, A.I.E.                            |   |   | 80.0  |   |   |   | 80.0  |   |   |   | 80.0   |   |   |   | 80.0   |   |   | Zaragoza (Spain)           |   | Wind power                                                       |   |   | EY     |   |   |
| Parque Eólico de Enix, S.A.                                     |   |   | 95.0  |   |   |   | 95.0  |   |   |   | 95.0   |   |   |   | 95.0   |   |   | Seville (Spain)            |   | Wind power                                                       |   |   | EY     |   |   |
| Parque Eólico de  Gevancas, S.A.                                |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)           |   | Wind power                                                       |   |   | DT     |   |   |

----

 

| Parque Eólico de Manique, LDA.                                        |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)            |   | Wind power                                                      |   |   | DT     |   |   |
|----------------------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-----------------------------|--------|-----------------------------------------------------------------|--------|--------|--------|--------|--------|
| Parque Eólico de  Santa Lucía, S.A.                              |   |   | 65.7  |   |   |   | 65.7  |   |   |   | 65.7   |   |   |   | 65.7   |   |   | Las Palmas de G.C. (Spain)  |   | Wind power                                                      |   |   | EY     |   |   |
| Parque Eólico do Alto da Vaca, LDA.                                   |   |   | 75.0  |   |   |   | 75.0  |   |   |   | 75.0   |   |   |   | 75.0   |   |   | Porto (Portugal)            |   | Wind power                                                      |   |   | DT     |   |   |
| Parque Eólico do Outeiro, LTDA.                                       |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)            |   | Wind power                                                      |   |   | DT     |   |   |
| Parque Eólico do Vale do Abade, LDA.                                  |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Porto (Portugal)            |   | Wind power                                                      |   |   | — |   |   |
| Parque Eólico dos Fiéis, LDA.                                    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)            |   | Wind power                                                      |   |   | DT     |   |   |
| Parque Eólico  Finca de Mogán, S.A.                              |   |   | 90.0  |   |   |   | 90.0  |   |   |   | 90.0   |   |   |   | 90.0   |   |   | Las Palmas de G.C. (Spain)  |   | Construction  and operation of a wind farm in Arico             |   |   | EY     |   |   |
| Parque Eólico  Montes de Las Navas, S.A.                              |   |   | 55.5  |   |   |   | 55.5  |   |   |   | 55.5   |   |   |   | 55.5   |   |   | Madrid (Spain)              |   | Construction,  operation and management of wind farms           |   |   | EY     |   |   |
| Parque Eólico  Punta de Teno, S.A.                                    |   |   | 52.0  |   |   |   | 52.0  |   |   |   | 52.0   |   |   |   | 52.0   |   |   | S. Cruz de Tenerife (Spain) |   | Wind  farms                                                     |   |   | EY     |   |   |
| Parque Eolico Serra da Capucha, S.A.                                       |   |   | 50.0  |   |   |   | 75.0  |   |   |   | 50.0   |   |   |   | 75.0   |   |   | Porto (Portugal)            |   | Wind farm                                                       |   |   | DT     |   |   |
| Planta Eólica Europea, S.A.                                           |   |   | 56.1  |   |   |   | 56.1  |   |   |   | 56.1   |   |   |   | 56.1   |   |   | Seville (Spain)             |   | Wind power                                                      |   |   | EY     |   |   |
| Productor Regional de Energía Renovable, S.A.                         |   |   | 85.0  |   |   |   | 85.0  |   |   |   | — |   |   |   | — |   |   | Valladolid (Spain)          |   | Development  and construction of wind farms                     |   |   | — |   |   |
| Progreen Fuente Álamo, S.A.                                           |   |   | 51.0  |   |   |   | 51.0  |   |   |   | 51.0   |   |   |   | 51.0   |   |   | Murcia (Spain)              |   | Urban  solid waste treatment                                    |   |   | — |   |   |
| Propaise                                                                   |   |   | 95.0  |   |   |   | 95.0  |   |   |   | 95.0   |   |   |   | 95.0   |   |   | Cartagena (Colombia)        |   | Production,  purchase, sale and retailing of energy             |   |   | DT     |   |   |
| Proyectos Eólicos Valencianos, S.A.                                   |   |   | 55.0  |   |   |   | 55.0  |   |   |   | 55.0   |   |   |   | 55.0   |   |   | Valencia (Spain)            |   | Electricity  production                                         |   |   | EY     |   |   |
| Relcamp, A.I.E.                                                            |   |   | 65.0  |   |   |   | 65.0  |   |   |   | 65.0   |   |   |   | 65.0   |   |   | Barcelona (Spain)           |   | Combined  heat and power plant                                  |   |   | EY     |   |   |
| Saltos del Nansa  I, S.A.                                                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Cantabria (Spain)           |   | Electricity  production, transmission and distribution          |   |   | EY     |   |   |
| Saltos y Centrales de Catalunya, S.A.                                      |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Barcelona (Spain)           |   | Operation  of hydroelectric facilities                          |   |   | EY     |   |   |
| Sealve-Sociedad  Eléctrica de Alvaiázere S.A.                    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)            |   | Wind farm                                                       |   |   | DT     |   |   |
| Sere- Sociedade  Exploradora de Recursos Eléctricos, LDA.             |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Porto (Portugal)            |   | Electricity  production                                         |   |   | DT     |   |   |
| Sisconer-Exploraçao  de Sistemas de Conversao de Energia, LTDA.       |   |   | 55.0  |   |   |   | 55.0  |   |   |   | 55.0   |   |   |   | 55.0   |   |   | Porto (Portugal)            |   | Wind farm                                                       |   |   | DT     |   |   |
| Sociedad Agrícola de Cameros LTDA.                                    |   |   | 57.5  |   |   |   | 34.9  |   |   |   | 57.5   |   |   |   | 34.9   |   |   | Santiago (Chile)            |   | Financial investment                                            |   |   | DT     |   |   |
| Sociedad Agrícola Pastos  Verdes LTDA.                                |   |   | 55.0  |   |   |   | 33.3  |   |   |   | 55.0   |   |   |   | 33.3   |   |   | Santiago (Chile)            |   | Financial investment                                            |   |   | DT     |   |   |
| Sociedad Concesionaria Túnel El Melón, S.A.                      |   |   | 100.0 |   |   |   | 36.3  |   |   |   | 100.0  |   |   |   | 36.3   |   |   | Santiago (Chile)            |   | Design,  construction and operation of the El Melón tunnel |   |   | EY     |   |   |
| Sociedad de Gestión de Activos Distribución Eléctrica, S.L. |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)              |   | Electricity  distribution                                       |   |   | — |   |   |
| Sociedad de Gestión de Activos Generación Eléctrica, S.L.   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0  |   |   |   | 100.0  |   |   | Madrid (Spain)              |   | Electricity  production                                         |   |   | — |   |   |
| Sociedad Inversora  Dock Sud, S.A.                                         |   |   | 57.1  |   |   |   | 57.1  |   |   |   | 57.1   |   |   |   | 57.1   |   |   | Buenos Aires (Argentina)    |   | Holding company                                                 |   |   | DT     |   |   |

----

 

| Societé Nationale d`Electricité et de Thermique, S.A. |   |   | 65.0  |   |   |   | 65.0  |   |   |   | 65.0  |   |   |   | 65.0  |   |   | Ile-de-France (France)      |   | Electricity  production                                |   |   | DT     |   |   |
|-----------------------------------------------------------------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|-------|--------|--------|--------|-------|--------|--------|-----------------------------|--------|--------------------------------------------------------|--------|--------|--------|--------|--------|
| Suministro de Luz y Fuerza, S.L.                                |   |   | 60.0  |   |   |   | 60.0  |   |   |   | 60.0  |   |   |   | 60.0  |   |   | Girona (Spain)              |   | Energy  distribution and retailing                     |   |   | RCM    |   |   |
| Surschite, S.A.                                                 |   |   | 100.0 |   |   |   | 65.0  |   |   |   | 100.0 |   |   |   | 65.0  |   |   | Douai (France)              |   | Slate,  ash and slag projects                          |   |   | JCG    |   |   |
| Synapsis Argentina  Ltda.                                       |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0 |   |   |   | 60.6  |   |   | Buenos Aires (Argentina)    |   | It  services                                           |   |   | DT     |   |   |
| Synapsis Brasil  Ltda.                                          |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0 |   |   |   | 60.6  |   |   | Rio de Janeiro (Brazil)     |   | It services                                            |   |   | DT     |   |   |
| Synapsis Colombia  Ltda.                                        |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0 |   |   |   | 60.6  |   |   | Bogota (Colombia)           |   | It services                                            |   |   | DT     |   |   |
| Synapsis Perú  Ltda.                                       |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0 |   |   |   | 60.6  |   |   | Lima (Peru)                 |   | It  and telecomm unications services and projects      |   |   | DT     |   |   |
| Synapsis Soluciones y Servicios It Ltda.                        |   |   | 100.0 |   |   |   | 60.6  |   |   |   | 100.0 |   |   |   | 60.6  |   |   | Santiago (Chile)            |   | Supply  and marketing of it services and equipment     |   |   | DT     |   |   |
| Teneguía Gestión Financiera S.L.                      |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | S. Cruz de Tenerife (Spain) |   | Financial  investment and services                     |   |   | DT     |   |   |
| Teneguía Gestión Financiera, S.L., S.COM.             |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 95.7  |   |   |   | 95.7  |   |   | S. Cruz de Tenerife (Spain) |   | Financial  investment                                  |   |   | DT     |   |   |
| Terdón  Cogeneración, S.L.                            |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Zaragoza (Spain)            |   | Combined  heat and power                               |   |   | FM     |   |   |
| Transportadora de  Energia, S.A.                                |   |   | 100.0 |   |   |   | 59.5  |   |   |   | 100.0 |   |   |   | 61.0  |   |   | Buenos Aires (Argentina)    |   | Electricity  production, transmission and distribution |   |   | DT     |   |   |
| Terminal Alpi  Adriático, SRL                              |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Lazio (Italy)               |   | Construction  and operation of a regasification plant  |   |   | — |   |   |
| Transportes y Distribuciones Eléctricas, S.A.              |   |   | 73.3  |   |   |   | 73.3  |   |   |   | 73.3  |   |   |   | 73.3  |   |   | Girona (Spain)              |   | Electricity  transmission                              |   |   | — |   |   |
| Triema, S.A.                                                    |   |   | 55.0  |   |   |   | 55.0  |   |   |   | 55.0  |   |   |   | 55.0  |   |   | Buenos Aires (Argentina)    |   | Marketing  of commercial management systems            |   |   | — |   |   |
| Unelco Cogeneraciones Sanitarias del Archipiélago, S.A.    |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Las Palmas de G.C. (Spain)  |   | Combined  heat and power                               |   |   | EY     |   |   |
| Unión Eléctrica de Canarias Generación, S.A.U.   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Las Palmas de G.C. (Spain)  |   | Electricity  production                                |   |   | DT     |   |   |
| Unipower, S.A.                                                  |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   |   | 100.0 |   |   | Sintra (Portugal)           |   | Holding company                                        |   |   | DT     |   |   |

----

*                      C&H(Crew&Hammond)/DT(Deloitte)/EY(Ernst&Young)/FM(FernandoMercadal)/KPMG(KPMG Auditores)/JCG(Jean C.G.)/PWC (Price Waterhouse Coopers)/RCM(RCM Auditores).

----

***APPENDIXII: Joint ventures and associates***

| ** **                                             | ** ** | **% Of Ownership At    31/12/06** | ** ** | **% Of Ownership At    31/12/05**   | ** ** | ** **                      | ** ** | ** **                                              | ** ** |
|--------------------------------------------------------|------------|-------------------------------------------------------|------------|---------------------------------------------------------|------------|---------------------------------|------------|---------------------------------------------------------|------------|
| **Company**                                            | ** ** | ** **                                            | ** ** | **% Of    Voting    Power    Held** | ** ** | **% Of    Ownership** | ** ** | **% Of    Voting    Power    Held** | ** ** | **% Of    Ownership** | ** ** | **Registered    Office** | ** ** | **Line Of Business** | ** ** |
| Altek Alarko Santrallari Tesis Isletme Ve Ticaret A.S. |       |                                                  | 50.0       |                                                    |       |                            | 32.5       |                                                    |       |   | 50.0 |   |   |   | 32.5 |   |   | Istanbul (Turkey) |   | Electricity facilities and sale of electricity |   |
| Antrel, A.I.E.                                         |       |                                                  | 50.0       |                                                    |       |                            | 50.0       |                                                    |       |   | 50.0 |   |   |   | 50.0 |   |   | Girona (Spain) |   | Combined heat and power plant |   |
| Aplicaciones Hidroeléctricas da Beira Alta, Ltda. |       |                                                  | 35.7       |                                                    |       |                            | 35.7       |                                                    |       |   | 35.7 |   |   |   | 35.7 |   |   | Viseu (Portugal) |   | Hydroelectric plant |   |
| Asanefi, A.I.E.                                        |       |                                                  | 42.5       |                                                    |       |                            | 42.5       |                                                    |       |   | 42.5 |   |   |   | 42.5 |   |   | Barcelona (Spain) |   | Operation of a combined heat  and power plant |   |
| Asociacion Nuclear Ascó-Vandellós Ii, A.I.E. |       |                                                  | 85.4       |                                                    |       |                            | 85.4       |                                                    |       |   | 85.4 |   |   |   | 85.4 |   |   | Tarragona (Spain) |   | Management, operation and administration of nuclear plants |   |
| Calizas Elycar, S.L.                                   |       |                                                  | 25.0       |                                                    |       |                            | 25.0       |                                                    |       |   | 25.0 |   |   |   | 25.0 |   |   | Huesca (Spain) |   | Operation of combined heat  and power plants |   |
| Carbopego-Abastecimientos e Combustiveis, S.A.         |       |                                                  | 50.0       |                                                    |       |                            | 50.0       |                                                    |       |   | 50.0 |   |   |   | 50.0 |   |   | Ribatejo (Portugal) |   | Fuel supplies |   |
| Central Hidráulica Güegar-Sierra, S.L.  |       |                                                  | 33.3       |                                                    |       |                            | 33.3       |                                                    |       |   | 33.3 |   |   |   | 33.3 |   |   | Granada (Spain) |   | Management of hydroelectric plants |   |
| Central Hidroeléctrica  Casillas, S.A.            |       |                                                  | 49.0       |                                                    |       |                            | 49.0       |                                                    |       |   | 49.0 |   |   |   | 49.0 |   |   | Seville (Spain) |   | Management of mini-hydroelectric plants |   |
| Central Térmica de Anillares, A.I.E.              |       |                                                  | 33.3       |                                                    |       |                            | 33.3       |                                                    |       |   | 33.3 |   |   |   | 33.3 |   |   | Madrid (Spain) |   | Management of the Anllares fossil-fuel plant |   |
| Centrales Hidroelectricas de Aysén, S.A.          |       |                                                  | 51.0       |                                                    |       |                            | 18.5       |                                                    |       |   | — |   |   |   | — |   |   | Santiago (Chile) |   | Design and implementation of a project |   |
| Centrales Nucleares  Almaraz-Trillo, A.I.E.            |       |                                                  | 24.2       |                                                    |       |                            | 23.9       |                                                    |       |   | 24.2 |   |   |   | 23.9 |   |   | Madrid (Spain) |   | Management of the Almaraz and Trillo nuclear plants |   |
| Cogeneració J. Vilaseca, A.I.E.                   |       |                                                  | 40.0       |                                                    |       |                            | 40.0       |                                                    |       |   | 40.0 |   |   |   | 40.0 |   |   | Barcelona (Spain) |   | Operation of a combined heat and power plant |   |
| Cogeneración El Salto,  S.L.                      |       |                                                  | 20.0       |                                                    |       |                            | 20.0       |                                                    |       |   | 20.0 |   |   |   | 20.0 |   |   | Zaragoza (Spain) |   | Combined heat and power |   |
| Cogeneración Hostalrich,  A.I.E.                  |       |                                                  | 33.0       |                                                    |       |                            | 33.0       |                                                    |       |   | 33.0 |   |   |   | 33.0 |   |   | Girona (Spain) |   | Combined heat and power |   |
| Cogeneración Lipsa, S.L.                          |       |                                                  | 20.0       |                                                    |       |                            | 20.0       |                                                    |       |   | 20.0 |   |   |   | 20.0 |   |   | Barcelona (Spain) |   | Combined heat and power |   |
| Cogeneración Tenerel-Mollet, A.I.E.               |       |                                                  | 50.0       |                                                    |       |                            | 50.0       |                                                    |       |   | 50.0 |   |   |   | 50.0 |   |   | Barcelona (Spain) |   | Combined heat and power |   |
| Cogeneración Tolosana, A.I.E.                     |       |                                                  | 25.0       |                                                    |       |                            | 25.0       |                                                    |       |   | 25.0 |   |   |   | 25.0 |   |   | Guipúzcoa (Spain) |   | Combined heat and power |   |
| Colomer de Cogeneracio, A.I.E.                         |       |                                                  | 27.5       |                                                    |       |                            | 27.5       |                                                    |       |   | 27.5 |   |   |   | 27.5 |   |   | Barcelona (Spain) |   | Operation of a combined heat and power plant |   |
| Compañía Eólica Tierras Altas, S.A.     |       |                                                  | 35.6       |                                                    |       |                            | 35.6       |                                                    |       |   | 33.8 |   |   |   | 33.8 |   |   | Soria (Spain) |   | Operation of wind farms |   |
|                                                        |            |                                                       |            |                                                         |            |                                 |            |                                                         |            |  |  |  |  |  |  |  |  |  |  |  |  |  |  |

----

 

| Compañía Transportista de  Gas de Canarias, S.A.                        |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Las Palmas de       |   | Natural gas operations in the Canary Islands           |   |
|-----------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|---------------------|--------|--------------------------------------------------------|--------|
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | G.C. (Spain)        |   |                                                   |   |
| Confirel, A.I.E.                                                                  |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Girona (Spain)      |   | Combined heat and power                                |   |
| Consorcio Ara-Ingendesa  Ltda.                                                    |   |   | 50.0   |   |   |   | 18.2   |   |   |   | 50.0   |   |   |   | 18.2   |   |   | Santiago (Chile)    |   | Project engineering consulting services                |   |
| Consorcio Ingendesa-Minmetal Ltda.                                                |   |   | 50.0   |   |   |   | 18.2   |   |   |   | 50.0   |   |   |   | 18.2   |   |   | Santiago (Chile)    |   | Engineering services                                   |   |
| Corelcat, A.I.E.                                                                  |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Lleida (Spain)      |   | Combined heat and power                                |   |
| Corporación Eólica de Zaragoza, S.L.                               |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Zaragoza (Spain)    |   | Renewable energies                                     |   |
| Desaladora de la Costa del Sol, S.A.                                              |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Málaga (Spain) |   | Water desalination and supply on the Costa del Sol     |   |
| Desarrollo Tecnológico Nuclear, S.L.                                         |   |   | 46.3   |   |   |   | 46.3   |   |   |   | 46.3   |   |   |   | 46.3   |   |   | Madrid (Spain)      |   | Nuclear plant R&D projects                         |   |
| Distribución y Comercialización de Gas Extremadura Dicogexsa, S.A. |   |   | 47.0   |   |   |   | 47.0   |   |   |   | 47.0   |   |   |   | 47.0   |   |   | Badajoz (Spain)     |   | Gas distribution                                       |   |
| Distribuidora Regional de Gas, S.A.                                               |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Valladolid (Spain)  |   | Gas distribution and retailing in Castilla y León |   |
| Ecoenergía de Can Mata, A.I.E.                                               |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Barcelona (Spain)   |   | Urban solid waste treatment                            |   |
| Eevm-Empreendimientos Eólicos Vale do Minho, S.A.                            |   |   | 50.0   |   |   |   | 37.5   |   |   |   | 50.00  |   |   |   | 37.5   |   |   | Esposende           |   | Wind farm                                              |   |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Portugal)          |   |                                                   |   |
| Elcogas, S.A.                                                                     |   |   | 40.9   |   |   |   | 40.9   |   |   |   | 40.9   |   |   |   | 40.9   |   |   | Madrid (Spain)      |   | Electricity production                                 |   |
| Eléctrica de Jafre, S.A.                                                     |   |   | 47.5   |   |   |   | 47.5   |   |   |   | 47.5   |   |   |   | 47.5   |   |   | Girona (Spain)      |   | Electricity distribution and  retailing                |   |
| Eléctrica de Lijar, S.L.                                                     |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Cádiz (Spain)  |   | Electricity transmission and  distribution             |   |
| Eléctrica de Puerto Real, S.A.                                               |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Cádiz (Spain)  |   | Electricity supply and  distribution                   |   |
| Empreendimientos Eólicos da  Serra do Sicó, S.A.                        |   |   | 29.0   |   |   |   | 29.0   |   |   |   | 29.0   |   |   |   | 29.0   |   |   | Pombal  (Portugal)  |   | Wind farm                                              |   |
| Emprendimientos Eólicos de Alvadia, Lda.                                     |   |   | 48.0   |   |   |   | 48.0   |   |   |   | 48.0   |   |   |   | 48.0   |   |   | Ribeira de Pena     |   | Wind farm                                              |   |
|                                                                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Portugal)          |   |                                                   |   |
| Empresa Provincial de Energía, S.A.                                          |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Huesca (Spain)      |   | Complete electricity cycle                             |   |
| Energética de Roselló,  A.I.E.                                          |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   | Barcelona (Spain)   |   | Combined heat and power                                |   |
| Energía de la Loma, S.A.                                                     |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Jaén (Spain)   |   | Bio-mass                                               |   |

----

 

| Energías Alternativas del Sur, S.L.             |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Las Palmas de               |   | Wind power                                            |   |
|------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-----------------------------|--------|-------------------------------------------------------|--------|
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | G.C. (Spain)                |   |                                                  |   |
| Energías Argentinas, S.A.                       |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Buenos Aires                |   | Wind power                                            |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Argentina)                 |   |                                                  |   |
| Energie Electrique de Tahaddart, S.A.           |   |   | 32.0   |   |   |   | 32.0   |   |   |   | 32.0   |   |   |   | 32.0   |   |   | Tangier (Morocco)           |   | Combined cycle plant                                  |   |
| Ensafeca Holding  Empresarial, S.L.             |   |   | 32.4   |   |   |   | 32.4   |   |   |   | — |   |   |   | — |   |   | Barcelona (Spain)           |   | Telecommunications services                           |   |
| Eólicas de Fuerteventura,  A.I.E.               |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Fuerteventura (Spain)       |   | Wind farms                                            |   |
| Eólicas de Lanzarote, S.L.                      |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Las Palmas de G.C. (Spain)  |   | Electricity production,  distribution and supply      |   |
| Eólicas de Tenerife, A.I.E                      |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | S. Cruz de Tenerife (Spain) |   | Wind farms                                            |   |
| Eolminho-Energias Renováveis, S.A.              |   |   | 28.0   |   |   |   | 28.0   |   |   |   | 28.0   |   |   |   | 28.0   |   |   | Vieira do Minho             |   | Construction and operation of  wind farms             |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Portugal)                  |   |                                                  |   |
| Erca Cinco Villas-1, S.L.                            |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Zaragoza (Spain)            |   | Combined heat and power                               |   |
| Ercasa Cogeneración, S.A.                       |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Zaragoza (Spain)            |   | Combined heat and power                               |   |
| Ercetesa, S.A.                                       |   |   | 35.0   |   |   |   | 35.0   |   |   |   | 35.0   |   |   |   | 35.0   |   |   | Zaragoza (Spain)            |   | Combined heat and power                               |   |
| Erecosalz, S.L.                                      |   |   | 33.0   |   |   |   | 33.0   |   |   |   | 33.0   |   |   |   | 33.0   |   |   | Zaragoza (Spain)            |   | Combined heat and power                               |   |
| Erfei, A.I.E.                                        |   |   | 42.0   |   |   |   | 42.0   |   |   |   | 42.0   |   |   |   | 42.0   |   |   | Tarragona (Spain)           |   | Combined heat and power                               |   |
| Ergon Energía, S.R.L.                           |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Brescia (Italy)             |   | Electricity supplies to  eligible customers           |   |
| Ergosud, S.p.A.                                      |   |   | 50.0   |   |   |   | 50.0   |   |   |   | — |   |   |   | — |   |   | Crotone (Italy)             |   | Construction and operation of  a combined cycle plant |   |
| Eurohueco Cogeneración, A.I.E.                  |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |
| Explotaciones Eólicas de Aldehuelas, S.L.       |   |   | 47.5   |   |   |   | 47.5   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Soria (Spain)               |   | Wind farms                                            |   |
| Fábrica do Arco-Recursos Energéticos, S.A. |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Sato Tirso                  |   | Electricity and steam  production                     |   |
|                                                 |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Portugal)                  |   |                                                  |   |
| Fibrarel, A.I.E.                                     |   |   | 36.6   |   |   |   | 36.6   |   |   |   | 36.6   |   |   |   | 36.6   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |
| Foraneto, S.L.                                       |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |
| Forel, S.L.                                          |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |
| Forsean, S.L.                                        |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |
| Garofeica, S.A.                                      |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   | Barcelona (Spain)           |   | Combined heat and power                               |   |

----

 

| Gas Extremadura  Transportista, S.L.           |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Badajoz (Spain)   |   | Transmission and storage of gas                                       |   |
|------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|-------------------|--------|-----------------------------------------------------------------------|--------|
| GNL Chile, S.A.                                |   |   | 23.6   |   |   |   | 8.6    |   |   |   | — |   |   |   | — |   |   | Santiago (Chile)  |   | LNG supply project                                                    |   |
| Gorona del Viento El Hierro, S.A.              |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | S. Cruz de        |   | Development and maintenance  of the El Hierro power plant             |   |
|                                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | Tenerife (Spain)  |   |                                                                  |   |
| Green Fuel Andalucía, S.A.                |   |   | 25.0   |   |   |   | 27.3   |   |   |   | — |   |   |   | — |   |   | Seville (Spain)   |   | Development, construction and  operation of a biodiesel plant         |   |
| Green Fuel Castilla y León, S.A.          |   |   | 25.0   |   |   |   | 27.3   |   |   |   | — |   |   |   | — |   |   | León (Spain) |   | Development, construction and  operation of a biodiesel plant         |   |
| Green Fuel Extremadura,  S.A.                  |   |   | 25.0   |   |   |   | 27.3   |   |   |   | 25.0   |   |   |   | 27.3   |   |   | Badajoz (Spain)   |   | Production, sale and  distribution of biofuels                        |   |
| Hídricas de Viseu, S.A.                   |   |   | 33.0   |   |   |   | 33.0   |   |   |   | 33.0   |   |   |   | 33.0   |   |   | Maia (Portugal)   |   | Mini-hydroelectric plant                                              |   |
| Hidro Escorón, S.L.                       |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Zaragoza (Spain)  |   | Combined heat and power plant                                         |   |
| Hidroeléctrica de Ourol,  S.L.            |   |   | 30.0   |   |   |   | 30.0   |   |   |   | — |   |   |   | — |   |   | Lugo  (Spain)     |   | Electricity production using  renewable energy sources                |   |
| Hidroeléctrica del Piedra, S.L.           |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Zaragoza (Spain)  |   | Electricity production and  sale                                      |   |
| Iniciativas de Gas, S.L.                       |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Madrid (Spain)    |   | Natural gas-related  activities                                       |   |
| Inversiones Electrogas, S.A.                   |   |   | 42.5   |   |   |   | 15.5   |   |   |   | 42.5   |   |   |   | 15.5   |   |   | Santiago (Chile)  |   | Holding company                                                       |   |
| Inversiones Gas Atacama  Holding Ltda.    |   |   | 50.0   |   |   |   | 18.2   |   |   |   | 50.0   |   |   |   | 18.2   |   |   | Santiago (Chile)  |   | Natural gas transmission                                              |   |
| Kromschroeder, S.A.                            |   |   | 27.9   |   |   |   | 27.9   |   |   |   | 27.9   |   |   |   | 27.9   |   |   | Barcelona (Spain) |   | Meter-reading equipment                                               |   |
| Livorno Holding, S.R.L.                        |   |   | 50.0   |   |   |   | 50.0   |   |   |   | — |   |   |   | — |   |   | Rome (Italy)      |   | Construction, development and  operation of a regasification terminal |   |
| Medidas Ambientales, S.L.                      |   |   | 50.0   |   |   |   | 25.0   |   |   |   | 50.0   |   |   |   | 25.0   |   |   | Burgos (Spain)    |   | Environmental studies and  reports                                    |   |
| Minicentrales del Canal Imperial-Gallur, S.L.  |   |   | 36.5   |   |   |   | 36.5   |   |   |   | 36.5   |   |   |   | 36.5   |   |   | Zaragoza (Spain)  |   | Mini-hydroelectric plant                                              |   |
| MPE Energía, S.R.L.                       |   |   | 50.0   |   |   |   | 50.0   |   |   |   | — |   |   |   | — |   |   | Milan (Italy)     |   | Sale of electricity to  eligible customers                            |   |
| Neinver Bolonia, S.L.                          |   |   | 45.0   |   |   |   | 45.0   |   |   |   | — |   |   |   | — |   |   | Madrid (Spain)    |   | Urban development                                                     |   |
| Nuclenor, S.A.                                 |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Burgos  (Spain)   |   | Nuclear power production                                              |   |
| Olt Offshore Lng Toscana S.p.A.                |   |   | 25.5   |   |   |   | 25.5   |   |   |   | — |   |   |   | — |   |   | Livorno (Italy)   |   | Natural gas regasification                                            |   |
| Oxagesa, A.I.E.                                |   |   | 33.3   |   |   |   | 33.3   |   |   |   | 33.3   |   |   |   | 33.3   |   |   | Teruel (Spain)    |   | Combined heat and power plant                                         |   |
| Parc Eolic Coll de Som, S.L.                   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain) |   | Wind farm development                                                 |   |
| Parc Eolic els Aligars, S.L.                   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain) |   | Wind farm development                                                 |   |
| Parc Eolic la Tossa-La Mola d`en Pascual, S.L. |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain) |   | Wind farm development                                                 |   |
| Parc Eolic l`Arram, S.L.                       |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain) |   | Wind farm development                                                 |   |

----

 

| Parque Eólico A.Capelada,  A.I.E.                      |   |   | 50.0 |   |   |   | 50.0 |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Madrid (Spain)             |   | Wind power                                                           |   |
|-------------------------------------------------------------|--------|--------|------|--------|--------|--------|------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|----------------------------|--------|----------------------------------------------------------------------|--------|
| Parque Eólico de Barbanza,  S.A.                       |   |   | 50.0 |   |   |   | 50.0 |   |   |   | 50.0   |   |   |   | 50.0   |   |   | A Coruña (Spain)      |   | Wind power                                                           |   |
| Parque Eólico de Cabo Vilano, A.I.E.                   |   |   | 50.0 |   |   |   | 50.0 |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Madrid (Spain)             |   | Wind power                                                           |   |
| Parque Eólico Sierra del Madero, S.A.             |   |   | 48.0 |   |   |   | 48.0 |   |   |   | 48.0   |   |   |   | 48.0   |   |   | Soria (Spain)              |   | Wind farm                                                            |   |
| Pegop-Energía Eléctrica, S.A.                     |   |   | 50.0 |   |   |   | 50.0 |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Abrantes (Portugal)        |   | Operation of the pego power  plant                                   |   |
| Planta de Regasificación de Sagunto, S.A.              |   |   | 20.0 |   |   |   | 20.0 |   |   |   | 20.0   |   |   |   | 20.0   |   |   | Madrid (Spain)             |   | Oil and gas business activities                                      |   |
| Powercer-Sociedade de Cogeraçao de Vialonga, S.A. |   |   | 30.0 |   |   |   | 30.0 |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Bucelas (Portugal)         |   | Combined heat and power                                              |   |
| Printerel, S.L.                                             |   |   | 39.0 |   |   |   | 39.0 |   |   |   | — |   |   |   | — |   |   | Barcelona (Spain)          |   | Construction and operation of a combined heat and  power plant       |   |
| Productora de Energías, S.A.                           |   |   | 30.0 |   |   |   | 30.0 |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Barcelona (Spain)          |   | Mini-hydroelectric plants                                            |   |
| Puignerel, A.I.E                                            |   |   | 25.0 |   |   |   | 25.0 |   |   |   | 25.0   |   |   |   | 25.0   |   |   | Barcelona (Spain)          |   | Combined heat and power plant                                        |   |
| Regasificadora del Noroeste, S.A.                           |   |   | 21.0 |   |   |   | 21.0 |   |   |   | 21.0   |   |   |   | 21.0   |   |   | A Coruña (Spain)      |   | Natural gas regasification and transmission                          |   |
| Releco Santiago, A.I.E.                                     |   |   | 45.0 |   |   |   | 45.0 |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Huesca (Spain)             |   | Combined heat and power plant                                        |   |
| Rofeica d` Energía, S.A.                               |   |   | 27.0 |   |   |   | 27.0 |   |   |   | 27.0   |   |   |   | 27.0   |   |   | Barcelona (Spain)          |   | Combined heat and power                                              |   |
| Sacme, S.A.                                                 |   |   | 50.0 |   |   |   | 22.9 |   |   |   | 50.0   |   |   |   | 22.8   |   |   | Buenos Aires   (Argentina) |   | Electricity system oversight and control                             |   |
| Sadiel, S.A.                                                |   |   | 37.5 |   |   |   | 37.5 |   |   |   | 37.5   |   |   |   | 37.5   |   |   | Seville (Spain)            |   | Technologies, information, engineering and training                  |   |
| Salto de San Rafael, S.L.                                   |   |   | 50.0 |   |   |   | 50.0 |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Seville (Spain)            |   | Mini-hydroelectric plants                                            |   |
| Santo Rostro Cogeneración, S.A.                        |   |   | 45.0 |   |   |   | 45.0 |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Seville (Spain)            |   | Combined heat and power                                              |   |
| Sati Cogeneración, A.I.E                               |   |   | 27.5 |   |   |   | 27.5 |   |   |   | 27.5   |   |   |   | 27.5   |   |   | Barcelona (Spain)          |   | Combined heat and power                                              |   |
| Sea Power & Fuel  S.R.L.                                |   |   | 50.0 |   |   |   | 50.0 |   |   |   | — |   |   |   | — |   |   | Genoa (Italia)             |   | Natural gas supplies                                                 |   |
| Sistemas Energéticos la Muela, S.A.                    |   |   | 30.0 |   |   |   | 30.0 |   |   |   | 30.0   |   |   |   | 30.0   |   |   | Zaragoza (Spain)           |   | Wind farms                                                           |   |
| Sistemas Energéticos  Más Garullo, S.A.           |   |   | 27.0 |   |   |   | 27.0 |   |   |   | 27.0   |   |   |   | 27.0   |   |   | Zaragoza (Spain)           |   | Wind farms                                                           |   |
| Sistemas Sec, S.A.                                          |   |   | 49.0 |   |   |   | 29.7 |   |   |   | 49.0   |   |   |   | 29.7   |   |   | Santiago (Chile)           |   | Provision of signalling,  electrification and communications systems |   |

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| Sociedad Consorcio  Ingendesa-Ara Limitada                                               |   |   | 50.0   |   |   |   | 18.2   |   |   |   | 50.0   |   |   |   | 18.2   |   |   | Santiago (Chile)         |   | Provision of engineering services                      |   |
|------------------------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------------------------|--------|--------------------------------------------------------|--------|
| Sociedad Eólica de Andalucía, S.A.                                             |   |   | 46.7   |   |   |   | 46.7   |   |   |   | 46.7   |   |   |   | 46.7   |   |   | Seville (Spain)          |   | Electricity production                                 |   |
| Sociedad Eólica Los Lances, S.A.                                                    |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Seville (Spain)          |   | Wind-powered facilities                                |   |
| Societé des Eaux de l`Est                                                           |   |   | 25.0   |   |   |   | 16.3   |   |   |   | 25.0   |   |   |   | 16.3   |   |   | Saint-Avold (France)     |   | Production, transport,  distribution and sale of water |   |
| Sodesa-Comercializaçao de Energia Eléctrica, S.A                               |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Porto (Portugal)         |   | Retailing of electricity and services                  |   |
| Soprolif, S.A.                                                                           |   |   | 45.0   |   |   |   | 29.2   |   |   |   | 45.0   |   |   |   | 38.0   |   |   | Meyreuil (France)        |   | Construction of a fluidized  bed boiler in Gardanne    |   |
| Suministradora Eléctrica de  Cádiz, S.A.                                       |   |   | 33.5   |   |   |   | 33.5   |   |   |   | 33.5   |   |   |   | 33.5   |   |   | Cádiz (Spain)       |   | Electricity supply and distribution                    |   |
| Tecnatom, S.A.                                                                           |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Madrid (Spain)           |   | Electricity production  services and facilities        |   |
| Tejo Energía, Produçao e Distribuçao de Energía Eléctrica, S.A. |   |   | 38.9   |   |   |   | 38.9   |   |   |   | 38.9   |   |   |   | 38.9   |   |   | Paço d’Arcos   |   | Electricity production,  transmission and distribution |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Portugal)               |   |                                                   |   |
| Termoeléctrica José de San Martin, S.A.                                        |   |   | 29.1   |   |   |   | 6.7    |   |   |   | 29.1   |   |   |   | 6.7    |   |   | Buenos Aires             |   | Construction and operation of  a combined cycle plant  |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Argentina)              |   |                                                   |   |
| Termoeléctrica Manuel  Belgrano, S.A.                                               |   |   | 29.1   |   |   |   | 6.7    |   |   |   | 29.1   |   |   |   | 6.7    |   |   | Buenos Aires             |   | Construction and operation of  a combined cycle plant  |   |
|                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   | (Argentina)              |   |                                                   |   |
| Termotec Energía, A.I.E                                                             |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Valencia (Spain)         |   | Combined heat and power                                |   |
| Tirme, S.A.                                                                              |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Balearic Islands (Spain) |   | Solid waste treatment                                  |   |
| Toledo PV, A.E.I.E.                                                                      |   |   | 33.3   |   |   |   | 33.3   |   |   |   | 33.3   |   |   |   | 33.3   |   |   | Madrid (Spain)           |   | Photovoltaic plant                                     |   |
| Tp-Sociedade Térmica  Portuguesa, S.A.                                              |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   |   | 50.0   |   |   | Lisbon (Portugal)        |   | Combined heat and power                                |   |
| Transmisora Eléctrica de  Quillota, Ltda.                                           |   |   | 50.0   |   |   |   | 18.2   |   |   |   | 50.0   |   |   |   | 18.2   |   |   | Santiago (Chile)         |   | Electricity transmission and distribution              |   |
| Transportista Regional de Gas, S.L.                                                      |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   |   | 45.0   |   |   | Valladolid (Spain)       |   | Gas infrastructures and  transmission                  |   |
| Urgell Energía, S.A.                                                                |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   |   | 27.0   |   |   | Lleida (Spain)           |   | Combined heat and power                                |   |
| Vapeltar, A.I.E.                                                                         |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Barcelona (Spain)        |   | Combined heat and power                                |   |
| Yacylec, S.A.                                                                            |   |   | 22.2   |   |   |   | 22.2   |   |   |   | 22.2   |   |   |   | 22.2   |   |   | Buenos Aires (Argentina) |   | Electricity transmission                               |   |
| Yedesa-Cogeneración, S.A.                                                           |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   |   | 40.0   |   |   | Almería (Spain)     |   | Combined heat and power                                |   |

 

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