Solar Fuel

for a Clean Planet

Who is Solel?

� A technology company, providing a one-stop solution for utility scale solar fields

� The only commercially proven electricity-producing solar thermal technology

� 350+ employees – largest solar thermal company. Many engineers involved in building original SEGS

� Ongoing major investments in R&D and production capacity

� Over $450 million in backlog in 2008

What is Solar Thermal Power?

� Free and secure resource, widely available and highly predictable

� Uses reflectors to concentrate sun’s energy and create heat

� Uniquely suited for answering peak demands

0

25

50

75

100

0 2 4 6 8 10 12 14 16 18 20 22% of power generated vs. capacity

Load

Wind *

Solar **

92%

CSP Technology Comparison –Parabolic Trough the Dominant Technology

5 – 25 KW (per dish)10 – 64 (MW)50 – 600 (MW)Size Scale

Dish focuses sunlight to single point , where thermal

collector captures the heat .

E ngine converts heat into mechanical energy which drives generator to produce electricity .

Circular array of mirrors concentrate s sunlight on receiver placed at top of central tower. Heat creates steam to power generator.

C urved trough reflects

solar radiation onto tube and heats the oil inside it .

A heat exchanger creates steam which runs a steam

turbine .

Mechanism

Negligible5%-7%Market share by 2012 (MW)

Embryonic - Pilot underwayProof of conceptMature technology, 20 yr commercial track recordCommercial Status

25 - 3016-1814 - 18Cost (cent\kWh)

DishTowerParabolic Trough

Parabolic Trough the de facto CSP standard & only b ankable technology

Source: Solel studies

Size of Market

Source: Emerging Energy Research

Reliability of Solel’s Parabolic Trough Technology

• Solel’s parabolic trough plants have provided consi stent and reliable power generation for over twenty years

• Dependable revenue stream

• California SEGS/Solel technology has never fallen b elow 98% of rated capacity

• Solel has consistently evolved the technology to in troduce improved efficiencies and output

• 2002 US DOE report to Congress: “SEGS demonstrate CSP systems achieve reliability equal to fossil-fue led plants”

SOLEL SIGNS AGREEMENT WITH SACYR OF SPAIN TO BUILD THREE 50 MW POWER PLANTS

Elements of a Solar Power Plant

� Power Block

� Solar Field

� HTF System

� Civil works

� Miscellaneous

Solel’s SunField LP : Built-In Solar Fuel

Solel main products

� UVAC 2008 solar thermal receiver

� Parabolic reflector panels

� Solar Fields (loops)

Solel Solar Thermal – Investor POV

� Parabolic trough is mature commercial technology = bankability

� Infrastructure projects: > 40 year life

� Dependable revenue stream, lends itself to non-recourse project finance approach

� Structured finance

� Solel vertical control

Plant operating at Solel Headquarters, compact para bolic trough located on top of car park, power block in m iddle front.

Solel Solution: On-Site Power Plants

Industrial cooling and heating system installed in Trento, Italy

Solel Solution: Industrial Cooling and Heating

Large Scale Water Heating - Spain

Air Conditioning (Toyama Japan)

Pool Heating

Solel: Delivering clean power when it’s needed most

Thanks for your time

kennyk@solel.com