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SPANISH GOVERNMENT AWARDS TENDER TO TERMOSOLAR ALCÁZAR

SOLAR THERMAL PROJECT

Project will utilize SolarReserve’s molten salt solar power tower technology Capable of continuous energy generation day or night

SANTA MONICA, Calif., June 27, 2011 –Termosolar Alcázar, a 50/50 joint venture between

SolarReserve, a U.S. developer of utility-scale solar power projects and Preneal, a Spanish developer

of renewable energy projects, today announced the Spanish government’s award of tender for the

venture’s 50 megawatt (MW) solar thermal plant to be built in Alcázar de San Juan. The Termosolar

Alcázar Power Project will contribute to Spain’s renewable energy generation through new highly

innovative, fully dispatchable molten salt concentrated solar power tower technology. Termosolar

Alcázar was awarded this tender through a competitive bid process.

The Termosolar Alcázar Power Project will generate enough clean, reliable energy to power 70,000

homes in the region and help Spain achieve the EU Climate & Energy objectives, which include:

reduction in greenhouse gas emissions to below 20 percent of 1990 levels, 20 percent of the nation’s

energy consumption from renewable resources and a 20 percent reduction in primary energy use

compared to projected levels.

The project will utilize SolarReserve’s utility scale molten salt solar power tower technology

developed by Pratt & Whitney Rocketdyne, a subsidiary of United Technologies, which features

integrated energy storage to deploy electricity on-demand, day or night, providing the same operating

stability, reliability and dispatchability of a conventional power generator while utilizing dry cooling.

The characteristics of the technology along with its capability to reduce the price of power were critical

attributes in this tender process.

In November of 2009, the Termosolar Alcázar Power Project received a Declaración de Impacto from

the government of Castilla-La Mancha, the key environmental permit necessary for the construction of

the plant.

About Preneal

Established in 1996 in Madrid, Preneal S.A. is an independent shareholders company whose main

purpose is to promote, construct and operate renewable energy projects all over the world. Preneal has

     

 

 

 

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participated in the development and construction of 13 wind farms in Spain, with a total of 440 MW

installed capacity. The company is developing projects, with an added power of more than 670 MW in

Spain and 1.200 MW in other countries. By 2015, the objective of the company is to be able to

construct and operate more than 800 MW of solar thermal and wind power projects.

About SolarReserve

SolarReserve, LLC – headquartered in Santa Monica, Calif. – is a solar energy project development

company developing large-scale solar energy projects worldwide. It holds the exclusive worldwide

license to the molten salt solar power tower technology developed by Pratt & Whitney Rocketdyne, a

subsidiary of United Technologies Corporation. Since its formation in late 2007, SolarReserve’s team of

power project professionals have assembled a concentrated solar power development portfolio of more

than 25 projects featuring its licensed solar power technology with potential output of more than 3,000

megawatts in the United States and Europe, with early stage activities in other international markets

including the Middle East, North and South Africa, Australia, China and Latin America. SolarReserve is

also developing 1,100 MW of photovoltaic projects across the Western United States, and is actively

acquiring new sites to add to the pipeline. SolarReserve’s experienced management team has previously

developed and financed more than $15 billion in renewable and conventional energy projects in more

than a dozen countries around the world. SolarReserve is majority-owned by US Renewables Group with

other investors that include Good Energies, Citigroup, Credit Suisse, Nimes Capital, Pacific Corporate

Group, CALPERS Clean Energy and Technology Fund and Argonaut Private Equity.

SolarReserve’s molten salt concentrating solar power tower technology was successfully demonstrated in

California under a U.S. Department of Energy-sponsored pilot project in the late 1990s. The 10 megawatt

pilot facility utilized a molten salt receiver designed, engineered and assembled by Rocketdyne, now a

part of United Technologies Corporation.

For more information: www.SolarReseve.com

U.S. Media Contact: Andi Plocek, SolarReserve, 310.315.2233, Andi.Plocek@SolarReserve.com