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4.2 El debido proceso, el juicio previo y el derecho de audiencia

4.2.3 Finalidad

the key views over the site from characteristic locations. Photomontages are put together to present the projected views from homes, traffic routes and important sites. The aim is to provide a comprehensive presentation of the perception or lack of perception of the future wind farm and to study whether there is visual interference with any important local sites.

Finally, the foundations and internal electric wind turbine network (electrical cables connecting the turbines together and to the grid connection substation) are buried. Two methods are commonly used to blend the substations into the countryside: either the substation is colored to fit with a local landscape or vegetation is planted, according to a landscaper’s design.

Management of landscape risk

Scope: Installed capacities for own account (excluding Breeze Two Energy) 2013 2012

Installed capacity for own account (net) as at December 31 307 MW 307 MW

Proportion of wind farms operated for own account for which the impact study included

a landscape study (1) 96.8% 96.8% (2)

(1) Percentages shown refer to wind farms operated for own account as at December 31 of the relevant year when THEOLIA performed an impact study which included a landscape study.

(2) Information complemented compared to the one published in the 2012 Registration Document.

3.4.4 Direct and indirect contribution to the local economy

Wind farm installation has a direct financial impact on local authorities, landowners and farmers:

 every year, local authorities with a wind farm on their territory receive taxes as a result, according to the applicable local regulations; and

 landowners and farmers of the turbine installation sites and neighboring plots receive an annual compensation fee throughout the term of operations.

Beyond these effects, THEOLIA consistently seeks to favor local labor, chiefly:

 local subcontractors (specialists in natural habitats, environmentalists, landscape architects, acoustic scientists, land surveyors, geologists);

 specialist contractors for preparatory work (earthmoving, structural construction work), connection work (installation and electrical connections) and maintenance; and

 companies to maintain the platforms and surrounding areas around the turbines.

Other work is indirectly generated, for instance in accommodation and catering for construction site personnel. Through its inherent activity and the accompanying measures, a wind farm contributes to local economic development.

3.4.5 Subcontractor relations

The Group’s main suppliers are turbine suppliers. 75% of the investment costs in a project are accounted for by the costs of purchasing and installing the turbines. In addition, the turbine supplier also generally provides technical maintenance services for the first 15 years. Turbine manufacturer selection is therefore a decision which is taken with great care. More specifically, the Group seeks to establish a long-term and balanced relation with its wind turbine suppliers.

3.

SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY

Turbine selection within the Group is an individual process for each wind farm because THEOLIA does not sign framework agreements with turbine suppliers. For each project, THEOLIA selects the most appropriate turbine for the site. This is how the Group aims to achieve optimum performance for its operating wind farms and the highest levels of profitability.

Wind turbines operated on behalf of the Group come from European and American suppliers only, who are not located in risky countries. The Group is not aware of any major labor-related risk relating to its turbine suppliers. Therefore, the Group does not include the labor-related risk in its turbine supplier selection process.

Turbine suppliers by country of origin

Scope: Installed capacities for own account (excluding Breeze Two Energy) 2013 2012

Installed capacity for own account (net) as at December 31 307 MW 307 MW

Proportion of German suppliers (Enercon, REpower, Nordex, Fuhrländer) 65% 65%

Proportion of Danish suppliers (Vestas, NegMicon) 27% 27%

Proportion of American suppliers (GE) 8% 8%

With respect to environmental issues, THEOLIA purchases turbines from ISO 14001 certified suppliers, to ensure that the environmental impact on supplier activities is taken into account.

Proportion of ISO 14001 turbine suppliers

Scope: Installed capacities for own account (excluding Breeze Two Energy) 2013 2012

Installed capacity for own account (net) as at December 31 307 MW 307 MW

Proportion of ISO 14001 certified turbine suppliers, to the Company’s best knowledge 96% 96%

In building its wind farms, the Group also uses subcontractors for various work packages: foundations, roadways and access (structural construction), electricity substation, internal electric wind turbine network, etc.

As for the main work package (turbines), the Group uses a tender process to select the subcontractors. This selection process is decentralized in each country. As far as possible, THEOLIA prefers to work with local subcontractors and/or subcontractors who have already successfully collaborated with the Group.

3.4.6 Business ethics and human rights

THEOLIA undertakes to work as a socially responsible business and expects its staff members’ conduct to be above reproach. The Group has developed a Charter of Ethics to prevent any behavioral risks.

This Charter specifies the ethical principles that the Group wishes its employees to adhere to under all circumstances, in order to manage risks related to conflicts of interest, insider trading, compliance with laws and regulations, respect for individuals and shareholders, corruption and the protection of Group property.

The Charter illustrates the Group's ethical values (fairness, trust, solidarity and transparency), and discusses some issues of corporate life (health, safety).

As regards human rights, the Charter promotes respect for individuals, and more specifically non-discrimination towards the other employees, clients and suppliers, on the grounds of gender, origin, age or religion.

This Charter has initially been presented to staff working at the head office, as an appendix to their employment contract. The aim is to roll this Charter out to all subsidiaries working in the wind power business.

3.4.7 Sponsorship

SOCIAL, ENVIRONMENTAL AND SOCIETAL RESPONSIBILITY 3.

3.5

REPORT OF ONE OF THE STATUTORY AUDITORS, DESIGNATED AS