IntertechPira s Concentrating Solar Thermal Power Implementation of Thermal Storage A Case Study: Gemasolar (24/7)

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1 IntertechPira s Concentrating Solar Thermal Power 2012 Implementation of Thermal Storage A Case Study: Gemasolar (24/7) April 19, 2012

2 Concentrated Solar Thermal Power Thermal storage is the differentiator Availability: 24/7 Dispatchability Cost reduction

3 TORRESOL ENERGY 60% 40% Founded in 1956, SENER ranks as the largest privately owned engineering company in Spain. The company is recognized for its capacity to deliver innovative and highly complex multidisciplinary projects. Owned by the government of Abu Dhabi (UAE) through the Mubadala Development Company, Masdar is committed to developing and delivering future energy solutions.

4 SENER AS A GROUP SENER Grupo de Ingeniería achieved a sales turnover of 937 M and more than employees worldwide. SENER has developed important innovations in the field of CSP and is recognized worldwide as one of the few technological leaders in this field. SENER s vast experience in other areas demonstrates its strong ability to innovate in different fields: Leading player in renewable technologies Vast experience in process and electric generating plants Large know-how in petrochemicals, process plants and civil engineering Design and manufacturing capabilities for high tech mechanisms (aerospace, biomedicine, etc.) SENER has successfully managed other important industrial alliances such as ITP. ITP is the result of the joint venture between SENER and ROLLS- ROYCE. ITP develops and manufactures jet engines and jet engine components, among other things

5 Established in April 2006, Masdar (the Abu Dhabi Future Energy Company) is a company focused on the development, commercialization and deployment of renewable energy solutions and clean technologies. As the first major hydrocarbon-producing nation to take such a step, it has established its leadership position by launching the Masdar Initiative, a global cooperative platform for open engagement in the search for solutions to some of mankind's most pressing issues: energy security, climate change and truly sustainable human development. Masdar consists of three business units and one investment arm: Masdar Carbon specializes in developing energy efficiency and clean fossil fuel projects that potentially bring reduction in carbon emissions Masdar City is a clean technology cluster being developed on the outskirts of Abu Dhabi that is expected to be powered entirely by renewable energy Masdar Power builds and invests in utility scale renewable energy power projects Masdar Venture Capital manages the Masdar Clean Tech Funds, a series of diversified venture capital investment vehicles focused on building portfolios of direct investments in clean technology and renewable energy Independently of Torresol Energy, MASDAR is developing CSP plants in Abu Dhabi, and their flagship plant Shams 1 is expected to be completed in the fourth quarter of 2010.

6 Torresol Energy Incorporated in March Based in Madrid, Spain 3 CSP Plants in Operation Total Investment to Date of 940 MM Euro. World leader in CSP for development and operation of cost effective and efficient solar plants

7 SENER CSP Experience Total capacity: 1,100 MW 21 units in operation, construction or design trough and central receiver technologies 19.9 to 140 MW 14 of them with molten salt (7.5 to 15 hrs) 1,750 km of collector length, 10 Mm 2 of reflecting surface

8 SENER CSP Experience (Cont.) Sener is one of the leading Companies in the Concentrated Solar Plant Sector. As Engineering or EPC Contractor: Full plant construction. Andasol 1 and 2 (2x50 MW CSP with 7.5h Thermal Storage) Extresol 1, 2 and 3 (3x50 MW CSP with 7.5h Thermal Storage) Valle 1 and 2 (2x50 MW CSP with 7.5h Thermal Storage) Gemasolar (20 MW CSP with 15 h Thermal Storage) Termosol 1 and 2 (2x50 MW CSP with 9h Thermal Storage) Samca 1 and 2 (2x50 MW CSP with 7.5h Thermal Storage) USA Genesis (2x140 MW CSP) As Solar Field Supplier Aste1a and 1b (2x393,000 m2) Soluz Guzmán (315,000 m2) Orellana (405,000 m2)

9 Case Study: Gemasolar 14 hours of thermal storage via molten salts Online since 4/11 Availability: 24/7 Dispatchability Represents a cost reduction due to efficiencies relative to trough storage

10 Central Tower <> High Performance Daily Radiation [W / m2]

11 Central Tower <> High Performance A solar field of heliostats concentrates the irradiance into a molten salts receiver located on the top of a central tower.

12 Central Tower <> High Performance

13 Central Tower <> High Performance Thermal storage allows plant to operate more than 15 hours at its nominal capacity without solar irradiance.

14 Central Tower <> High Performance Molten Salts temperature over 550 ºC. No use of Oil in the Heat Transfer Process.

15 Tower Technology SENER s design of central tower receiver with molten salts Testing the pilot central receiver at Almeria s PSA

16 Tower Technology Field tests for the actuator and control system of the SENER heliostat SENER heliostat

17 Our Gemasolar Plant 24/7 Availability 3 + Energy 100% Demand curve

18 Our Gemasolar Plant

19 Our Gemasolar Plant

20 Our Gemasolar Plant

21 Our Gemasolar Plant Direct Normal Irradiance [W/m 2 ] Generator Power Output [MW] Thermal Energy Stored [MWh th ] Time of day 24 hours

22 Spanish Electric Demand Winter time: Typically two peaks of demand at and 20.00h (GMT + 1) Radiation at Gemasolar (GMT + 1) from 9.00 to h Summer time: Two peaks of demand at and 22.00h (GMT + 2) Radiation at Gemasolar (GMT +1) from 7.00 to h In both cases the mid-daily demand is supplied by solar radiation. The nightfall demand is supplied by using the molten salt storage system.

23 Our Gemasolar Plant One real day: August 16 th 2011

24 Our Gemasolar Plant One real sequence of days: September 6 th to 9 th 2011

25 Advantages High thermal storage capacity. Due to the storage system, the turbine operation is not immediately affected by a cloud or a sudden high speed wind. A cloud will affect the production 6-15 hours later. The turbine would not stop every night. Longer expected life. The turbine power is manageable. We may choose to reduce the output during the night, at valley time, to reach 24 h of continuous operation at lower rate. We maximize the asset utilization. Lower operational risk No mobile piping system. No swivel joints. No thermal oil. No potential fire or spillage risks All fluids concentrated in a small area. Lower thermal loses and maintenance costs. Self draining piping. The same fluid is used for heat transfer and storage. Less thermal interchange Highest cycle efficiency The molten salts reach highest temperatures maximizing thermodynamic efficiency.

26 The Way Ahead Gemasolar High Performance CSP Difference And the FUTURE Gemasolar is a breakthrough for solar as it can operate 24/7 Thermal storage + high temperature: Dispatchable and more Cost Competitive Able to convert stored energy into electricity according to demand, not environmental conditions Not visionary. Molten salt trough plants in commercial operation since 2008

27 Gemasolar November, 2008 Closed Project Financing Characteristics Amount Equity 73 M 29,9% Number of heliostats 2600 Debt 171 M 70,01% 33,33% 33,33% 33,33% Total reflective area (m 2 ) 300 Tower height (m) 140 Total Investment 244 M Turbine power (MW e ) 20 Storage size (hours) November 2009 Refinancing EIB 80 M Remaining Banks 91 M 46,8% Total Debt 171 M 53,2% Digital Image of Gemasolar Gemasolar is the first SENERTower in the world. With 15 hours of storage, it is exceeding operational expectations.

28 Next Steps for CSP Lower costs. Gemasolar represents the first plant of its type Next plants will be lower cost : Size Efficiencies Lessons learned Improvements in technology Regulatory/Client recognition of value of CSP relative to the grid Continued Improvements in technology

29 Torresol Energy, Inc. (USA) Felicia L. Bellows Senior Vice President of Development Contact Information