ABENGOA SOLAR

Solar Power for a Sustainable World

Solar Plants Development

Santiago de Chile
10th November, 2009
 ABENGOA SOLAR Index

1 Solar Technologies Overview

2 Abengoa

3 Abengoa Solar & Solar Plants Development

Solar Power for a Sustainable World 2

 ABENGOA SOLAR Two Families of Solar Technologies

Concentrating Solar Power

 Focuses direct sun radiation on a receiver where a heat transfer fluid captures
energy that then is used to produce steam that generates electricity
 Cheapest solar technology at utility-scale
 Dispatchable source of energy thanks to storage
 Allows for hybridation with other sources of energy, either renewables (e.g.
biomass) or conventional (e.g. natural gas)

Photovoltaics

 Direct transformation of sun radiation (direct and diffuse) into electricity through
a semiconductor, such as silicon-based cells
 Great flexibility in terms of plant size and installation site: it is a distributed
technology
 It is not dispatchable, as there are no viable storage technologies

Solar Power for a Sustainable World 3

 ABENGOA SOLAR CSP Technology I

Trough Central Receiver or

Tower

Dish Fresnel (CPV)

Solar Power for a Sustainable World 4

 ABENGOA SOLAR CSP Technology II

Trough

Operating Principle: The parabolic troughs are used to track the sun and concentrate sunlight
on to the thermally efficient receiver tubes placed in the trough focal line. In these tubes, a
thermal transfer fluid is circulated, such as synthetic thermal oil. This oil is then pumped through
a series of heat exchangers to produce steam. The steam is converted to electrical energy in a
conventional steam turbine generator.

Main Components:
Reflector
Absorber tube
Tracking system
Structure

Characteristics:
The most mature solar technology
Large potential with new heat transfer fluids and direct steam
generation
Energy could be stored (molten salt)
Could be hibridized with fossil fuel (ISCC)

Solar Power for a Sustainable World 5

 ABENGOA SOLAR CSP Technology III

Tower

Operating Principle: A circular array of heliostats (2 axis tracking mirror) is used to

concentrate sunlight to a central receiver mounted on the top of a tower. A heat transfer
medium in this receiver absorbs the highly concentrated radiation and coverts it into thermal
energy to be used by a turbine.
Main Components:
 Heliostats
 Tower
 Receptor
Characteristics:
 High temperatures  High yields
 High temperature tower under development will lead to best efficiency and costs
Dish

Operating Principle: A fluid located in the receptor is heated by the concentrated rays. This energy is then used t
produce electricity by the Stirling engine
Characteristics:
High efficiencies but still lots of challenges to overcome
Large potential with microturbines and metallic liquid as heat transfer fluid

Solar Power for a Sustainable World 6

 ABENGOA SOLAR Photovolatic Technology I

Photovoltaic Technology I
Operation Principle: When certain materials, called semiconductors, are exposed to
solar rays, electrons from the valence band could be excited to the conduction
band. The physical structure of the semiconductor creates an electric field which
sets the electrons path, thus generating direct electric current.

Crystallized Si

Types
Monocrystalline Silicon (Efficiency ~ 15%)
Crystallised in ingots
Si monocristalino
Uniform color
Thin film
Pollycrystalline Silicon (Efficiency ~ 13%)
Low cost Silicon
Ribbon Silicon (Efficiency ~ 12%)
Si policristalino Manufactured from molten silicon
High Efficiency Silicon (Efficiency ~ 17%)

Solar Power for a Sustainable World 7

 ABENGOA SOLAR Photovoltaic Technology II

Thin film Photovoltaic Technology II

Types
Amorphous Silicon (Efficiency ~ 6-7%)
Manufactured at low deposition temperature, allowing several low
cost substrates
Amorphous Silicon Monocrystalline Silicon (Efficiency ~ 9%)
Reaches ti higher yield than amorphous Silicon
Cadmium Telluride (CdTe) (Efficiency ~ 8-10%)
Several manufactures techniques, promising feature for large scale
production
CIS/CIGS (Efficiency ~ 10-11%)
Cadmium telluride Reductions on material costs
TiO2 (Efficiency~ 6-7%)
Concentration
Concentración Great optical proprieties and low costs

Types
Rendimiento alto, coste alto.
High efficiency Silicon (Efficiency ~ 17%)
GaAs multijunctionMucho
(Efficiencypotencial
~ 30%)de mejora.
Each layer El
is madeseguidor
of a different material, which
es necesario.
usually is a III-V semiconductor, and absorbs a
GaAs with Fresnel lens different portion of the spectrum.
Solar Power for a Sustainable World 8
 ABENGOA SOLAR Technology Roadmap

Key Milestones for Technology Roadmap

 Develop new storage systems, improving current steam and molten salt systems
 Cheaper structures, without jeopardizing durability
 Potential new reflective materials cheaper than mirrors (but durability is key challenge)
 Utilization of new heat transfer fluids in trough systems to increase temperature (and
efficiency), such as molten salts and direct steam generation
 Increase temperature and pressure of steam systems in central receiver systems
(superheated towers, 2nd and 3rd generations)
 ...and of course, significant gains in learning curve if government continue to support the
industry and large volumes are installed

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 ABENGOA SOLAR Cost Gap Will Close

Large Scale Projects

Global Uptake
Strong Developers
New technologies
Incentives
Energy Cost

Carbon policies
Current Cost
Commodity Prices, Fuel volatility and risk
Gap
Financial Markets, Equipment,
etc.

t
CSP energy cost
Fossil energy cost

Solar Power for a Sustainable World 10

 ABENGOA SOLAR Index

1 Solar Technologies Overview

2 Abengoa

3 Abengoa Solar & Solar Plants Development

Solar Power for a Sustainable World 11

 ABENGOA SOLAR Our Commitment

Innovative Solutions for a Sustainable World

“Abengoa is a technology company that applies

innovative solutions for sustainable development in
the infrastructure, environment and energy sectors,
creating long-term value for our shareholders with a
management model based on fostering
entrepreneurial spirit, social responsibility,
transparency and rigour”

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 ABENGOA SOLAR Sustainable Development

 Sales and gross cash flow in 2008 of 2700 M€ and 627 M€, respectively
 More than 16.000 employees worldwide
 Quoted on the Madrid Stock Exchange Market
 Sustained growth through 98-08 (20% CAGR in revenues and 22% in net profit)

Solar Power for a Sustainable World 13

 ABENGOA SOLAR Index

1 Solar Technologies Overview

2 Abengoa

3 Abengoa Solar & Solar Plants Development

Solar Power for a Sustainable World 14

 ABENGOA SOLAR Abengoa Solar in Summary

Large International and Integrated Solar Power Generation

Company Offering Proven Technologies and Developing
New One, Both CSP and PV

 A twenty year commitment to both CSP and PV technology development

 More than 350 professionals worldwide

 Two domestic markets (Spain and U.S.) and expansion to international markets (i.e.
Algeria, Morocco)

 Proprietary solar technologies (trough, tower, thermal storage, other technologies)

 Assembly of a world class team of Solar experts, with unsurpassed collective

experience and skills

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 ABENGOA SOLAR A Global Presence

Main Geographies  Hundreds of MW under construction and

development in different technologies
 Unparalleled R&D facilities

 Largest solar plant in the world in Arizona A Global Presence

 More than 85 professionals in R&D and project
development efforts

USA Spain

International Presence Southern Europe

Asia
Strong development team pushing solar in
many countries New opportunities

Middle East and Northern Africa

„ Build first two ISCC plants
„ Participating in current international bids
„ New opportunities

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 ABENGOA SOLAR Solucar Platform

300 MWs from Solar Energy

PS10 Q2 07

Parabolic Trough PS20 Q1 09 Power Tower

Aznalcollar Q4 10
Solnova 1 Q4 09
Solnova 3 Q2 10
Solnova 4 Q4 10
Solnova 2
Solnova 5 Q4 11

Q4 12

5 x 50 =250 MWs 2 x 20 + 10 = 50
MW

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 ABENGOA SOLAR Solucar Complex
Spain

 PS10, first commercial tower in the world.

Operating since 2007
 PS20, largest commercial tower in the world.
Operating since April 2009

 Solnova 1, 3 and 4 under construction

(150MW)
 First plant to start operations by the end of
2009

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 Solana: The Largest Solar Plant in the
ABENGOA SOLAR World

The site
 The site enjoys of one of the highest solar
radiations in the world

Arizona
 PPA and key permits to build the plant are
already secured
Phoenix

Solana

 280 MW peak power

 6-hour thermal storage system allowing energy
production management
 Will supply electricity for 70,000 American
households

The project

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 CSP Projects
ABENGOA SOLAR ISCC plants in Argelia and Morocco

ISCC in Algeria 150 MWe

150 MW in Hassi-  Algeria. First combined cycle with solar trough field under construction
R´mel  20 MW from trough, rest from natural gas
 180,000 m2 of reflective surface
 Thermal oil as heat transfer fluid
 Promoted by Abengoa Solar and NEAL

First ISCC Plant Worldwide

ISCC in Morocco 470 MWe

470 MW
in At Ain Beni  Morocco. Largest combined cycle with solar trough field
Mathar  20 MW from trough, rest from natural gas
 183,000 m2 of reflective surface
 Thermal oil as heat transfer fluid
 Project sponsored by World Bank
Largest ISCC Plant Worldwide

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 ABENGOA SOLAR Abengoa Solar in PV

ABENGOA SOLAR
Develops…
Builds…
Operates…
Photovoltaic Plants and Installations

Some Examples…

Sevilla PV (low Copero PV Barcelona Forum Linares Casaquemada Las Cabezas

concentration)

1.2 MWp 1 MWp (Spain) 0.4 MWp 1.9 MWp 1.8 MWp (Spain) 5.7 MWp
(Spain) (Spain) (Spain) (Spain)

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 Unparalleled R&D Efforts:
ABENGOA SOLAR
70 Professionals, 25 Million Dollars Investment per Year

1 Storage pilot plant with molten salts in operation since January

2 Direct Steam Generation pilot plant

3 Superheated steam pilot tower

4 High concentration PV demonstration systems

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 ABENGOA SOLAR Key Challenges in Development

Development comprises many complex activities, like site selection, permitting

(at national, regional and local levels) and supplying (equipment, EPC
contractor, etc.). Difficulty of this stage tends to be underestimated by new
entrants
It is a very long process (and thus expensive): in Spain it takes around 2
years; in the US can take 3-4 years
Long lead times makes development very sensitive to regulatory changes
Availability of water and suitable access to transmission are relevant issues to
be targeted early on

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 ABENGOA SOLAR Financing is Critical

Non-recourse project finance debt has been the traditional financing structure,
but now is challenging
Current financial crisis is generating new forms of financing in the renewables
space
Credibility of the developer and guarantees from the operator and the EPC
contractor are key issues for banks. Only large players can do it successfully
Country credibility is also very important in assessing the overall economic
model, especially in a feed-in-tariff scheme

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