ENDESA Inaugurates the First CCGT Plant in Peru with Installed Capacity of 492 MW

  
    
  
  
    
      ENDESA (NYSE:ELE) has inaugurated Peru’s 
      first CCGT plant (installed capacity 492 MW; investment USD 135 
      million). The inauguration ceremony, which was presided over by the 
      Peruvian president, Alan García, was also 
      attended by ENDESA’s chairman, Manuel Pizarro, 
      and CEO, Rafael Miranda, and leading members of Peru’s 
      economic, financial and political circles.
    
    
      The plant, which took two years to build, is the first in the country to 
      be fed with natural gas from the Camisea fields and the first to use 
      CCGT technology, making it the biggest, most modern and most efficient 
      thermal plant in Peru. With the start-up of this plant, ENDESA becomes 
      the leading consumer of natural gas from the Camisea field
    
    
      At his inauguration speech, Peruvian president Alan García 
      thanked ENDESA for having confidence in Peru "at an especially difficult 
      time for Latin America and when uncertainty in the region is rife”, 
      which, according to the Peruvian premier can only be explained by the 
      seriousness and judicial security offered and transmitted by the 
      country. “We must keep up confidence in Peru 
      and show that our country is serious, responsible and unaffected by 
      demagogy and adventurism if we want capital to keep flowing in.”
    
    
      After thanking Alan García for his words, 
      ENDESA’s chairman, Manuel Pizarro, stated that 
      this investment will not only consolidate the Group’s 
      presence in Peru’s generation sector but also 
      makes it the biggest investor in modernising the electricity sector in 
      the country. “This plant”, 
      said Mr. Pizarro, “has cost us a great deal 
      of effort and money and also gives us a great deal of hope. We have 
      confidence in Peru and will continue to invest here”.
    
    
      ENDESA has been operating in Peru since 1994 (and 10% of its Latin 
      American assets are in this country).
    
    
      In the generation business it has a controlling stake in Edegel (through 
      Enersis) which owns installed capacity of 1,284 MW. On 1 June this year, 
      the merger and takeover of Etevensa (where ENDESA also had a controlling 
      stake) by Edegel was completed. This transaction has resulted in a more 
      balanced overall generation mix (51% hydro and 49% thermal), which will, 
      among other things, reduce the volatility of revenues caused by 
      variations in rainfall. ENDESA also has a controlling stake in the 
      generation company Piura (143 MW).
    
    
      And, in conjunction with Enersis, its holds a 60% stake in Edelnor, 
      which distributes electricity to 925,000 customers in the northern part 
      of Lima. It has installed capacity of 2.3 MW.
    
    
      * This document may contain certain forward-looking statements regarding 
      anticipated financial and operating results and statistics that are 
      subject to risks and uncertainties as well as to material risks, changes 
      and other factors which may be difficult to predict, including, without 
      limitation, those factors described in the Documento de Registro de 
      Acciones of Endesa filed within the Comisión 
      Nacional del Mercado de Valores and in the Form 20-F of Endesa filed 
      within the Securities and Exchange Commission, both for the fiscal year 
      ended December 31, 2004. For all of these forward-looking statements, we 
      claim the protection of the safe harbour for forward-looking statements 
      contained in the Private Securities Litigation Reform Act of 1995.
    
  
ENDESA (NYSE:ELE) has inaugurated Peru's first CCGT plant
(installed capacity 492 MW; investment USD 135 million). The
inauguration ceremony, which was presided over by the Peruvian
president, Alan Garcia, was also attended by ENDESA's chairman, Manuel
Pizarro, and CEO, Rafael Miranda, and leading members of Peru's
economic, financial and political circles.

   The plant, which took two years to build, is the first in the
country to be fed with natural gas from the Camisea fields and the
first to use CCGT technology, making it the biggest, most modern and
most efficient thermal plant in Peru. With the start-up of this plant,
ENDESA becomes the leading consumer of natural gas from the Camisea
field

   At his inauguration speech, Peruvian president Alan Garcia thanked
ENDESA for having confidence in Peru "at an especially difficult time
for Latin America and when uncertainty in the region is rife", which,
according to the Peruvian premier can only be explained by the
seriousness and judicial security offered and transmitted by the
country. "We must keep up confidence in Peru and show that our country
is serious, responsible and unaffected by demagogy and adventurism if
we want capital to keep flowing in."

   After thanking Alan Garcia for his words, ENDESA's chairman,
Manuel Pizarro, stated that this investment will not only consolidate
the Group's presence in Peru's generation sector but also makes it the
biggest investor in modernising the electricity sector in the country.
"This plant", said Mr. Pizarro, "has cost us a great deal of effort
and money and also gives us a great deal of hope. We have confidence
in Peru and will continue to invest here".

   ENDESA has been operating in Peru since 1994 (and 10% of its Latin
American assets are in this country).

   In the generation business it has a controlling stake in Edegel
(through Enersis) which owns installed capacity of 1,284 MW. On 1 June
this year, the merger and takeover of Etevensa (where ENDESA also had
a controlling stake) by Edegel was completed. This transaction has
resulted in a more balanced overall generation mix (51% hydro and 49%
thermal), which will, among other things, reduce the volatility of
revenues caused by variations in rainfall. ENDESA also has a
controlling stake in the generation company Piura (143 MW).

   And, in conjunction with Enersis, its holds a 60% stake in
Edelnor, which distributes electricity to 925,000 customers in the
northern part of Lima. It has installed capacity of 2.3 MW.

   * This document may contain certain forward-looking statements
regarding anticipated financial and operating results and statistics
that are subject to risks and uncertainties as well as to material
risks, changes and other factors which may be difficult to predict,
including, without limitation, those factors described in the
Documento de Registro de Acciones of Endesa filed within the Comision
Nacional del Mercado de Valores and in the Form 20-F of Endesa filed
within the Securities and Exchange Commission, both for the fiscal
year ended December 31, 2004. For all of these forward-looking
statements, we claim the protection of the safe harbour for
forward-looking statements contained in the Private Securities
Litigation Reform Act of 1995.