<p>As of March 31, 2007, Acciona Energy had 3,518MW of production capacity and had generated 2,347GWh in the quarter. In addition, the utility said that its attributable installed wind power capacity increased by 30% in Q1 2007, and that its attributable wind power output by was up by 41%.<br /><br />Acciona Energy's earnings before interest, tax, depreciation and amortization (EBITDA) amounted to E103 million in Q1 2007, a 1.5% decline. Nevertheless, the company said that the decline was much less than the reduction in prices obtained for power, as production was stepped up using new installed capacity. <br /><br />Acciona's consolidated EBITDA rose by 7.2% in Q1 2007. The group put this down to Acciona Energy's organic growth, which it said offset the decline in the price of electricity in the first quarter. <br /><br />Acciona's consolidated capital expenditure amounted to E578 million in the period, mainly due to its acquisition of an additional 0.7% stake in Spanish utility Endesa and to investments to fuel the organic growth at Acciona Energy, as well as a number of the company's other operating units. <br /><br />Nevertheless, Acciona said that the positive impact of Endesa on earnings before taxes amounted to E56 million, net of the expenses associated with the acquisition of its 21% stake in the utility.<br /><br />Acciona said that, as a result of its investment in Endesa, and the company's ongoing investment policy, net financial debt at March 31, 2007 amounted to E9.9 billion (75.3% without recourse), which is the same as 183% of equity. Acciona said that this would enable the company to maintain its ability to finance its growth policy.</p>
