Board Of Directors

Biographical information for each of the current members of the Board of Directors, including a brief description of each Director’s business experience and education, is presented below:

Mr. Luis de Valdivia (Executive Director)

Mr. de Valdivia is the founder, CEO, and Chairperson of our Board of Directors. He is a pioneer in the development of the renewable energy in Spain. Studies at the Faculty of Law of the Complutense University of Madrid and Senior Business Management Programme (PADE) at the IESE Business School, University of Navarra. Mr. Valdivia founded the Company 33 years ago and since then has worked at Ecoener. He has led the Group’s internationalization. A pioneer in the development of renewable energy in Spain, he is a member of the Advisory Boards of the Fragas del Eume National Park and the Corrubedo and Lagunas de Carregal e Vixán National Park. He is a member of the Galician Council of Environment and Sustainable Development, a chartered organisation that participates in, consults and advises Galicia’s Department of Environment, Territory and Infrastructure in respect to plans, projects and activities that may have an impact on sustainability. As a representative of the Galician Confederation of Businessmen, Luis is a member of the governing council of Aguas Galicia and is a member of the Board of Directors of the hydropower section of APPA (Association of Renewable Energy Companies).

Mr. Fernando Rodríguez (Executive Director)

Mr. Rodríguez is the Vice-Chairperson of our Board of Directors, and also our Head of Legal, and Head of the National Business Development. Mr. Rodríguez has 20 years of experience as a lawyer, the last 17 years within Ecoener and before then, three as an independent lawyer. He studied Law at the University of La Coruña, has extensive experience in the administrative management of assets and in the expansion of Ecoener’s internationalisation.

Mr. Eduardo Serra (Proprietary Director)

Mr. Serra began his career in the public sector, being Secretary of the State of Defense and also Minister of Defense for four (4) years. Mr. Serra held high-level executive positions in the private sector, as Chairperson of Telettra in Spain, Chairperson of Peugeot-Talbot in Spain and Chairperson of UBS in Spain. He was also the founder and Chairperson of the telecommunications company Airtel and member of the Board of Directors of Deutsche Bank Spain. Mr. Serra currently serves as Chairperson of the Board of Directors of Everis (an NTT Data company) and is also the Chairperson of the consulting firm Eduardo Serra y Asociados, S.L., and member of the Board of Directors of Pharma Mar, S.A. Mr. Serra is actively involved with non-profit organizations such as Real Instituto Elcano, Fundación de Ayuda contra la Drogadicción (FAD) or Museo del Prado. He is the Chairperson of Fundación Transforma España and Fundación España Constitucional. Mr. Serra holds a degree in Law and completed his studies as State’s Attorney, being the number one in his class (1974).

Ms. Ana Palacio (Proprietary Director)

Ms. Palacio is a lawyer and founder of the law firm Palacio & Asociados. Ms. Palacio held various positions in the public sector at the beginning of her professional career, as member of the European Parliament, the Council of State and being the first woman in Spain to serve as Minister of Foreign Affairs (2002). Ms. Palacio has also been Vice-Chairperson of the Executive Board of the multinational group Areva and Vice-Chairperson of the World Bank group. Ms. Palacio is, at present, member of the Board of Directors of Enagás, Pharmamar and AEE Power, a company specialized in the energy sector in Africa. Ms. Palacio is also member of the International Advisory Committee of Investcorp, member of the External Advisory Committee of Energy Futures Initiative (EFI) and member of the Board of the Atlantic Council of the United States. Additionally, Ms. Palacio is member of the governing bodies of several research and public institutions such as MD Anderson Cancer Center, the Scientific Board of Real Instituto Elcano and the Global Leadership Foundation. Ms. Palacio actively participates in international conferences and forums related to the energy sector, in particular, the G-20 International Energy Forum or the Atlantic Council Energy & Economic Summit and Forum. Ms. Palacio was invited as speaker at the International Energy Agency (IEA) in 2017. Ms. Palacio holds a degree in Law, Political Science and Sociology and a Honorary Doctorate in Humanities from the University of Georgetown. She was awarded with the Sandra Day O’Connor Justice Prize in 2017.

Mr. Rafael Canales Abaitua (Proprietary Director)

D. Rafael Canales has over 25 years’ experience in the financial sector. He holds a degree in Economics and Business Administration from the Universidad Comercial de Deusto (Bilbao), as well as postgraduate studies at the Escuela de Organización Industrial and a PDD from the IESE Business School. Since September 2018, he has been CEO of Onchena, S.L., a family-owned holding company. Mr. Canales has developed his professional activity in the financial sector. Since 2001 in the area of wealth management, in various management positions, first in Consultor Servicios Financieros and subsequently in Banca March after the acquisition of Consultor by Banca March. Previously he worked in Corporate Banking at Argentaria – BBVA and at Manufacturers Hanover Trust Co. (currently J.P. Morgan). In the field of teaching, he has been a lecturer in Banking, International Finance and Financial Management at ICADE (Universidad Pontificia de Comillas). Mr. Canales is a member of the Board of Directors of Inversiones Almagro Socimi, S.A. and Serrano 61, Socimi, S.A., both listed companies. He has previously been a member of the boards of directors and audit committees of the listed companies Mas Movil, S.A. and Solarpack S.A. He is also a member of the boards of directors of Geniova Technologies, S.L.,Tratamiento Superficial Robotizado, S.L. and Gaea Inversión, S.C.

Ms. Marta Fernández Currás (Independent Director)

Ms. Marta Fernández Currás is a State tax inspector and State comptroller and auditor. She has been a member of the board of trustees of the Prado Museum, Thyssen Museum, Reina Sofia Museum, National Library and the Institute of Financial Analysts. She has been Managing Partner for Galicia at the global audit firm E&Y since 2016, where she leads the Tax Area and is responsible for various projects involving domestic and multinational companies. She is also a partner in the firm’s Public Sector area, providing services to companies in the Spanish public sector. Previously, Marta was a delegate of the Institute of Tax Studies in Galicia under the Spanish Economy Ministry; head of the Regional Collection Unit of the Spanish Tax Agency in Galicia; Auditor General of Galicia; Tax Inspector at the Large Taxpayer Central Office of the Spanish Tax Agency; Regional Minister of Finance for Galicia; and Secretary of State for Budgets and Expenditure. She was also an associate professor of Public Finance and Tax Systems in the Department of Economics at the University of Santiago de Compostela, Director of the Spanish Tax Agency of Santiago, a member of the Regional Economic Administrative Court (TEAR) of Galicia, and Deputy Regional Comptroller of Pontevedra.

Ms. Inés Juste (Independent Director)

Ms. Juste has been, since 2011, the Chairperson of Grupo JUSTE, a family-owned company and leading-player of the chemical-pharmaceutical industry. Ms. Juste is currently member of the Board of Directors of Renta 4 Banco, S.A., and of Instituto de Consejeros – Administradores (IC-A). Ms. Juste is the Vice-Chairperson of Confederación de Organizaciones Empresariales (CEOE) and Fundación Adecco. Ms. Juste has also been Chairperson of Asociación para el Desarrollo de la Empresa Familiar de Madrid (ADEFAM), member of the Board of Asociación Española de Industria Farmacéutica (Farmaindustria) and Vice-Chairperson of Federación de la Industria Química Española (FEIQUE). Ms. Juste holds a degree in Business Administration from Universidad Autónoma de Madrid and a Master in Business Management Administration from IE Business School. Ms. Juste has been awarded with several recognitions, such as the National Woman Entrepreneur award by FEDEPE and ASEME in 2020.

Mr. Juan Carlos Ureta (Independent Director)

Mr. Ureta began his professional career in 1980 at the Ministry of Economy and Finance as State’s Attorney. Mr. Ureta also worked as Agent of the Madrid Stock Exchange until 1989. He has held board-level positions at companies such as Iberclear and Indra, and has also been member of the Advisory Boards of Lucent Technologies and ING. Mr. Ureta was Chairperson of the Instituto Español de Analistas Financieros (IEAF) for six years. Mr. Ureta co-founded and is currently the Chairperson of Renta 4 Banco, S.A., and is also member of the Board of Directors of Sociedad Rectora de la Bolsa de Madrid, S.A. (Governing body of the Madrid Stock Exchange) and of its holding company, Bolsas y Mercados Españoles, Sociedad Holding de Mercados y Sistemas Financieros, S.A. (BME). Mr. Ureta holds a degree in Law, specializing in economic law from the Universidad de Deusto (being awarded with the National Prize for the completion of the University studies) and completed his studies as State’s Attorney.

Mr. Fernando Lacadena (Independent Director)

Mr. Lacadena has more than thirty years of experience in the finance sector, having started his career in the auditing firm Arthur Andersen. Mr. Lacadena has worked in ACS-Dragados Group and as CFO of the Sacyr Vallehermoso Group. Mr. Lacadena has a broad expertise in finance as well as a strong background in the investment transactional market (M&A). Mr. Lacadena is currently member of the Board of Directors (and member of its Audit Committee) of NH Hotel Group, S.A., a leading urban hotel chain in Europe and America. Mr. Lacadena also holds high-level positions in the real estate sector, as CFO of Merlin Properties, CEO of Testa Inmuebles en Renta SOCIMI, S.A., and as Chairperson of Asprima. Mr. Lacadena is also the Chairperson of Asociación de Inmobiliarias con Patrimonio en Alquiler (ASIPA), a Spanish association of rental property companies. Mr. Lacadena holds a degree in Law and in Economics and Business Management from Universidad Pontificia de Comillas (ICADE).

Mr. Dean Tenerelli (Independent Director)

Mr. Tenerelli has more than twenty-five years of experience in the investment sector, being engaged with several management teams facing strategic, competitive, regulatory, macroeconomic and financial challenges. Mr. Tenerelli started his investment career as an assistant portfolio manager at Artisan Partners. Mr. Tenerelli also worked for a year at Credit Suisse as equity analyst, specialized in the telecom area. Mr. Tenerelli then joined T. Rowe Price, an American asset management firm, where he has worked for the last 20 years as European telecom analyst and sector portfolio manager, co-managing the firm’s global and EAFE strategies. Mr.Tenerelli holds a degree in Economics from Rutgers University and an MBA from ESADE Business School.

D. Ignacio Gómez-Sancha, Managing Partner of Latham & Watkins Spain, is Non-Director Secretary of the Board of Directors.