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Abengoa Solar signs financing agreement for its second parabolic trough plant, Solnova 3, at the Solúcar Platform

Abengoa Solar signs financing agreement for its second parabolic trough plant, Solnova 3, at the Solúcar Platform.

Seville, 23 January 2008

Banco Santander, S.A., Caja de Ahorros and Monte de Piedad de Madrid, Calyon, Natixis Banques Populaires and Société Générale, S.A. are the financial institutions that will be in charge of structuring and securing financing for the construction and start-up of the Solnova 3 Concentrated Solar Power plant, promoted by Abengoa Solar. Financing, which exceeds 200 million euros, has been coinsured by all parties.

Solnova 3 is the second of the five parabolic trough technology plants under construction by Abengoa Solar at the Solúcar platform in Sanlúcar la Mayor, in the province of Seville.
As well  as Solnova 1. Its construction began in the second half of 2008. Solnova 3 will have unitary power output capacity of 50 megawatts and will be made up of approximately 300,000 square meters of mirrors covering a total surface area of 115 hectares. When brought into use, it will have the capacity to supply 26,000 homes and will eliminate 31,000 tons of CO₂ emissions each year.

The plant’s technology involves concentrating solar radiation onto a heat-absorbing pipe inside which a fluid that reaches high temperatures flows. This liquid converts its energy to steam that goes to a turbogenerator, where it expands in order to produce electric power.

Abengoa Solar, an affiliate of Abengoa, focuses its activities on the development and application of technology for electricity generation with the Sun.

Abengoa is a technology company that applies innovative solutions for sustainable development in the infrastructure, environment and energy sectors. It is listed on the Stock Exchange with capital of 1809, 39 million euros (22/01/2008) and is present in over seventy countries, through its five Business Groups: Solar, Bioenergy, Environmental Services, Information Technologies and Engineering and Industrial Construction (www.abengoa.com).

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