Summary

ABENGOA SOLARABENGOA

Annual Report 2013

Solar Energy for a Sustainable World

In 2013, Abengoa Solar began commercial operation of Solana, the world’s largest parabolic trough plant. Solana has an installed capacity of 280 MW and a thermal storage system that produces electricity without sunlight for six hours at full capacity. Commercial operation of this plant represents an important milestone for the company and the energy industry.

Global Presence

Table of Contents

Letter from the CEO

Our Plants

Social Responsibility Management Structure

Copyright © 2014 Abengoa Solar,S.A. All rights reserved.

This is a summary of Abengoa Solar’s 2013 Annual Report. The complete report can be found on www.abengoasolar.com

Technology

Products and Services

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21

51 59

13

37

SpainUnited States

Mexico

Chile

Brazil

South Africa

Italy

IndiaSaudi Arabia

China

Australia

United Arab EmiratesAlgeriaMorocco

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Annual Report 2013

Letter from the CEO

Abengoa Solar accomplished major achievements in 2013 and we should be satisfied with the results. During the past 12 months, Abengoa Solar became the definitive leader in the solar thermal electric sector. In the area of concessional assets, in the last quarter of the year, we brought the Solana plant online. It is the largest parabolic trough plant in the world, with 280 MW of installed capacity and six hours of thermal storage. The plant is an extraordinary feat and an exponential jump for the company in demonstrating its capacity to solve new technological and management challenges in geographic areas key to the future of the company. In the area of industrial production, we achieved a significant advancement to secure ourselves definitively as an integral supplier of components, services and industrial solutions in the markets where we have been traditionally present, while establishing the necessary foundation to enter in new developing markets. We have accomplished all of this without straying from our main vocation, to pursue permanent technological

innovation, even in adverse economic environment and regulatory uncertainty, which has influenced the sector during the past year. In conclusion, if the previous year represented a fundamental advance in securing our global leadership position in the solar thermal sector with 18 assets in operation and new projects awarded in highly competitive environments, 2013 confirms that we are a solid, safe, and highly innovative organization that has earned the confidence of the financial community and its clients.

In the technological area, we have significantly advanced in the research and development of new dispatchable solar thermal solutions and hybrids. Specifically, the viability and efficiency of the dispatchability of clean energy was clearly demonstrated last year with Solana beginning commercial operation. Its six hours of thermal storage are essential to meeting the electricity demand in Arizona and bring high added value to solar energy as a reliable base source for the grid.

Solana is the fruit of the technological efforts of preceding years, an effort that continued in 2013. We completed more than 2,000 hours of operation of the molten salt tower pilot plant in our major R&D center in the Solucar Complex. This technology offers an ideal combination for electrical grid systems that require high capacity storage options. Due to this innovative effort, we successfully developed the Cerro Dominador project in Chile, which will likely begin construction in the first half of 2014 and will allow us to validate this technological concept on a commercial scale. We have also developed new solar thermal tower hybrid technology integrated with a combined cycle, bringing flexible solutions to our product portfolio such as the hybridization of solar thermal-gas and solar thermal-coal, which will serve the needs of our clients.

In the area of parabolic trough technology, the U.S. Department of Energy reiterated its confidence in us by awarding a new R&D contract for the development of a new generation of collectors. We also concluded our new collector with a greater aperture. This will allow us to bring it to market and function as a technological base for future Abengoa Solar projects. In addition to collectors, we are also investigating new heat transfer fluids.

We are not forgetting intermittent technologies. This year we established our own European photovoltaic R&D center, Soland, which will permit us to continue advancing research in high concentration cells and strive for higher efficiencies to improve upon current results that have made photovoltaic technologies highly competitive with conventional energy sources for distributed systems. Our high concentration PV modules and our low concentration technology produced significantly higher efficiency than conventional silicon modules, as well as higher commercial viability. In collaboration with leading R&D institutions, we continue to drive the development of new solutions that are competitive in both cost and efficiency.

Concerning our concessional activities, in addition to the accomplishment of bringing Solana online and the investment of Liberty Interactive Corporation with the confidence in our technological capabilities that it brings along with it, we have completed the last two plants of the Extremadura Solar Complex in Spain, Solaben 1 and Solaben 6. Thus, we have reached, 1.2 GW of installed capacity. The concessional activity will continue to grow in coming years, as we have 430 MW under construction in the United States and South Africa and another 320 MW in pre-construction in various regions.

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Our industrial production business also progressed significantly during the past year. Operation and maintenance teams introduced new tools and analytic systems for centralized engineering and preventative maintenance, allowing us to improve to a significant degree the production of our assets. These developments, among others, have put the company in a privileged situation of being able to offer services and products for third parties to further improve standards of electrical production. Moreover, we amplified our portfolio offer components and integrated industrial applications, and during 2014 this business line will be strengthened by providing service to third parties.

As a consequence of these developments, the EBITDA of Abengoa Solar in 2013 grew by 27 % over the previous year, reaching 401 million euros. Harvesting these positive results was only possible thanks to the extraordinary effort and commitment of more than 1,000 team members, driven by the conviction that a sustainable energy future is possible. In this regard, among other significant variables, we avoided the emission of over half a million tons of CO2 into the atmosphere this year. Abengoa Solar also retains at the center of its activities a social commitment and responsibility to its employees and to local communities through development of, and collaboration in, corporate social responsibility programs channeled through the Focus Abengoa Foundation. Through these programs, we are creating highly qualified jobs and wealth in the communities in which we work.

I am confident that we will be able to make our vision reality and that, in the coming years, various solar technologies will become fully competitive with conventional energy sources. Together, we will be able to build a more sustainable and brighter future for coming generations.

Armando Zuluaga Zilbermann

Letter from the CEO

PatentsAbengoa Solar ’s tota l number of patents direct ly corre lates to the company's efforts in R & D. The f igures are cumulat ive for patents f i led and granted.

CO2 emissions prevented annuallyReducing CO 2 emiss ions is one of the main benef i ts that the company contr ibutes to society. S ince the beginning of the operat ion of the fac i l i t ies through ear ly 2013, Abengoa Solar avoided the emiss ion of about 2,145,140 t . CO 2 .

Installed powerAt the end of 2013, Abengoa Solar had a total of 1,863 MW insta l led, of which 1,223 MW are in operat ion, 430 MW are under construct ion and 320 MW are in pre-construct ion phase.

EBITDAAs a result of the major solar thermal power plants coming onl ine, as wel l as the increase in industr ia l product ion act iv i t ies , EBITDA from operat ing act iv i t ies increased by approximately 27 % in 2013.

Operation

Construction

Pre-construction

Rest of the world Spain U.S.

Power by geographical areaCapacity evenly divers i f ied by geographical area, which 35 % in Spain, 28 % in the U.S. and 37 % in the rest of the world.

Consolidated revenuesConsol idated revenues of Abengoa Solar in 2013 were 570 mi l l ion euros, an increase of approximately 28% over 2012.

mil l ion euros

Industrial production

Concession-type infrastructure

Industrial production

Concession-type infrastructure

Fixed assetsThe f ixed assets of Abengoa Solar in 2013 increased to 4,785.3 mi l l ion euros, due to the construct ion of new plants.

ProductionThe coming onl ine of new plants has resulted in a considerable increase in the product ion of energy in our fac i l i t ies throughout 2013, reaching approximately 1,310 GWh.

2011

2012

2013

234 / 111 345

500

570

262 / 238

293 / 277

MW

2011

2012

2013

443 / 1,060 / 150 1,503

1,653

1,863

743 / 910

1,223 / 430 / 320

mil l ion euros

2011

2012

2013

81 / 82 164

315

401

147 / 168

108 / 292

Rest of the world 37%

Percentage of power (MW) by geography

U.S.28%

Spain

35%

2011 3,336mil l ion euros

2012 3,089mil l ion euros

2013 4,785mil l ion euros

2011 107F i led and granted patents

2012 138F i led and granted patents

2013 162F i led and granted patents

2011 367GWh

2012 964GWh

2013 1,310GWh

2011 144,598Tons of CO2

2012 379,816Tons of CO2

2013 516,140Tons of CO2

Annual Report 2013

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Key figures

*

**

**

*

PatentsAbengoa Solar ’s tota l number of patents direct ly corre lates to the company's efforts in R & D. The f igures are cumulat ive for patents f i led and granted.

CO2 emissions prevented annuallyReducing CO 2 emiss ions is one of the main benef i ts that the company contr ibutes to society. S ince the beginning of the operat ion of the fac i l i t ies through ear ly 2013, Abengoa Solar avoided the emiss ion of about 2,145,140 t . CO 2 .

Installed powerAt the end of 2013, Abengoa Solar had a total of 1,863 MW insta l led, of which 1,223 MW are in operat ion, 430 MW are under construct ion and 320 MW are in pre-construct ion phase.

EBITDAAs a result of the major solar thermal power plants coming onl ine, as wel l as the increase in industr ia l product ion act iv i t ies , EBITDA from operat ing act iv i t ies increased by approximately 27 % in 2013.

Operation

Construction

Pre-construction

Rest of the world Spain U.S.

Power by geographical areaCapacity evenly divers i f ied by geographical area, which 35 % in Spain, 28 % in the U.S. and 37 % in the rest of the world.

Consolidated revenuesConsol idated revenues of Abengoa Solar in 2013 were 570 mi l l ion euros, an increase of approximately 28% over 2012.

mil l ion euros

Industrial production

Concession-type infrastructure

Industrial production

Concession-type infrastructure

Fixed assetsThe f ixed assets of Abengoa Solar in 2013 increased to 4,785.3 mi l l ion euros, due to the construct ion of new plants.

ProductionThe coming onl ine of new plants has resulted in a considerable increase in the product ion of energy in our fac i l i t ies throughout 2013, reaching approximately 1,310 GWh.

2011

2012

2013

234 / 111 345

500

570

262 / 238

293 / 277

MW

2011

2012

2013

443 / 1,060 / 150 1,503

1,653

1,863

743 / 910

1,223 / 430 / 320

mil l ion euros

2011

2012

2013

81 / 82 164

315

401

147 / 168

108 / 292

Rest of the world 37%

Percentage of power (MW) by geography

U.S.28%

Spain

35%

2011 3,336mil l ion euros

2012 3,089mil l ion euros

2013 4,785mil l ion euros

2011 107F i led and granted patents

2012 138F i led and granted patents

2013 162F i led and granted patents

2011 367GWh

2012 964GWh

2013 1,310GWh

2011 144,598Tons of CO2

2012 379,816Tons of CO2

2013 516,140Tons of CO2

Key figures

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*

Including molten salt 110 MW tower project Cerro Dominador, awarded in January 2014.

As of January 1, 2013, Abengoa Solar has adopted a new international financial reporting standard, IFRS 10 & 11. According to this change, key figures affected by this change have been modified from previous editions of the annual report.

**

*

The Solucar Complex is one of the largest solar installations in Europe. It is globally recognized as a unique technology center for hosting all types of solar technologies in commercial plants, laboratories and pilot R&D plants at the site.

Annual Report 2013

Tecnología

Solana • Generating clean power to cover the energy demand equivalent to 70,000 households in Arizona.

• 6 hours of thermal energy storage in molten salt enabling stable power generation after sunset at maximum capacity.

Solana’s energy storage system offers improved dispatchability, i.e. greater ability to meet the consumption needs of the grid. This storage capacity results in dispatchability comparable to fossil fuel plants. The significant environmental and economic benefits inherent to solar thermal energy make this plant a major breakthrough for the energy industry towards a sustainable system.

2013 Highlights

Technology• Abengoa Solar uses the heat of the sun to produce electricity with solar thermal electric technologies.

• Producing electricity with sunlight by means of our concentrating photovoltaic modules.

• Hybridizing solar power with fossil fuels to reduce emissions and increase efficiency of electricity generation processes.

• Applying solar thermal and photovoltaic technology to industrial processes, enhancing results while increasing sustainability.

• Above all, we constantly innovate in all aspects of solar technology to better address the world’s comtemporary energy needs.

abengoasolar.com

Annual Report 2013

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Technology

Solar thermal electric technologySolar thermal technology turns the heat of the sun into electricity. Abengoa Solar has a long tradition in the design and construction of solar plants using such technology. In 2013, we advanced significantly in the development of solar thermal technology, achieving higher efficiencies while lowering costs and positioning solar thermal among the best energy solutions in the market. Advances are evenly distributed in the three main areas of solar thermal electric technology: tower, parabolic trough and storage.

Tower In tower technology, a field of heliostats, i.e., a set of mirrors installed on a flat structure moving in two axes, tracks the sun to concentrate solar power into a receiver placed at the top of a tower. In the receiver, the heat of the sun is transferred to a heat transfer fluid (HTF), which is used to produce the steam needed to drive a turbine, generating electricity. Abengoa Solar, after years of experience in direct steam generation, introduced new designs into the market, characterized by higher temperatures and efficiencies, and reduced costs and water consumption.

• Molten salt towerIn 2013, Abengoa Solar began marketing an innovative receiver design utilizing molten salt as a heat transfer fluid. Thus, we can produce superheated steam at 540º C and 90 bars of pressure, signifiying a leap forward in efficiency. This technology optimally combines with high capacity molten salt storage systems. Such features make this technology a valuable solution for areas with high solar radiation and the need for large storage capacity.

• Super-heated steam towerAbengoa Solar markets super-heated steam tower technology that allows us to reach higher temperatures during the process of electrical production – a new milestone in solar thermal electric technology. In 2013, we continued the development of Khi Solar One, Abengoa Solar’s first commercial implementation of this technology.

Tecnología

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Parabolic troughIn this technology, with more than 30 years of successful deployment worldwide, a set of mirrors mounted on a parabolic trough structure tracks the sun. The mirrors concentrate solar power upon a receiving tube that carries a fluid absorbing the heat, which reaches high temperatures. This fluid transfers thermal energy to water in order to generate steam, which drives the turbine to produce clean electricity.

Operation of more than 800 MW of parabolic trough technology plants has taken place since 2010. By the end of 2013, we had 16 parabolic trough plants in operation, including the world largest parabolic trough plant, Solana.

Annual Report 2013

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StorageThermal energy storage increases availability of production for solar thermal electric plants, enabling generation with no concurrent solar irradiation. This allows the plants to better meet the demand of grid operators and utilities, resulting in a more stable supply and significant advances in the integration of renewable energy into the grid.

In 2013, Abengoa Solar began operation of a unique thermal storage system in the United States. Solana is able to generate electricity for six hours at full capacity without sun. This means that the plant can operate in a manner similar to conventionally fueled plants.

R&D: Solar thermal electricThroughout this year, several milestones in solar thermal electric technology were reached. Abengoa Solar completed development of a new state-of-the-art, large aperture parabolic trough collector, the SpaceTube®. It has been incorporated into our commercial technology portfolio. Additionally, the U.S. Department of Energy awarded Abengoa a two-year R&D contract to improve several aspects of the manufacturing and assembly of this collector, driving down costs and improving the competitiveness of the technology. Simultaneously, the SpaceTube® collector is being adapted to fit other HTFs, such as molten salts.

In 2013, positive viability reports led to the commercial launch of direct steam generation parabolic trough technology, which reaches a record temperature of 550º C. Furthermore, this year saw the construction and operation of the second-generation steam accumulator prototype for direct steam generation plants.

Hybrid technologyAbengoa continues to bet on hybrid solar thermal-gas and solar thermal-coal projects as a strategy towards a cleaner energy future.

ISCC The company was a pioneer in hybrid technology by developing the first two ISCC (integrated solar combined cycle) plants worldwide, in Algeria and Morocco.

• Hybrid solar thermal-gas tower This year, Abengoa Solar developed a new commercial hybrid technology: hybrid solar thermal tower plants with a natural gas combined cycle, using molten salts as a heat transfer fluid.

This hybrid technology provides the following advantages:

- continuous generation with flexibility to meet changes in demand;

- drastic reduction of emissions in conventional plants;

- high efficiency;

- high solar integration;

- competitive price even with combined cycle plants in countries where natural gas has a low cost.

R&D: Hybrid technology This year, we completed the evaluation phase for an 800º C pressurized air tubular receiver, following more than 900 hours of operation. Important developments were also +made in the design and construction of a volumetric receiver, capable of operating at 1,000º C, that is expected to be installed and validated during 2014 on the Solugas site (Solucar Complex).

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Technology

Photovoltaic technologyAbengoa Solar supports the development of photovoltaic (PV) technologies, supplying innovative products to clients worldwide. We design, build, and operate install ations, both small industrial applications and utility-scale plants.

HCPV Our high concentration PV modules offer important advantages:

- double efficiency when compared with conventional silicon PV;

- power production curves following demand profile superior to existing PV technologies;

- high precision, dual axis tracking system;

- scalable in size from kW to MW;

- greater synergies with final markets, reaching location values that out compete other PV technologies.

R&D: PV technology In the laboratories of the Soland R&D center in Sanlucar la Mayor (Seville, Spain), Abengoa develops PV technology. Our new thin-film products are designed for latitudes with medium-low radiation level for residential applications and integration in buildings.

We bet on a PV technology better integrated with the grid. We have successfully completed validation of a new electrical network management system. The synchronous power controller (SPC) is a controller concept for electronic power converters that provides advanced support and grid integration features with a small power storage device. We have also developed HCPV modules in countries such as India (Mandali), Saudi Arabia (Dammam) and Brazil (Pernanmbuco). Regarding low-concentration technology, we have produced the first prototypes with high-efficiency silicon cells. Results from these projects will open the possibility for new installations with higher capacity, as well as new projects in coming years.

Industrial applicationsAbengoa Solar delivers clean energy produced with solar power to industrial clients worldwide. This energy is used to supply hot water, low-pressure water steam, or electricity to meet the energy demand of industrial installations in the following sectors:

- mining

- desalination

- heating

- cooling

- food

- domestic consumption

We offer integrated solutions including feasibility studies, engineering system design, financing, installation, and operation and maintenance services. Additionally, we install ground and rooftop PV modules – including above large buildings and parking sites.

Solana, with 280 MW of installed capacity, generates clean power to meet a demand equivalent to 70,000 households in Arizona.

Annual Report 2013

Tecnología

Our PlantsAbengoa currently has a total installed capacity of 1,223 MW in commercial operation, 430 MW under construction and 320 MW in the pre-construction phase, distributed in 29 solar plants worldwide.

abengoasolar.com

Annual Report 2013

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Location: Arizona, U.S.Output: 280 MWStorage: 6 hours at full capacity (molten salts)Technology: Parabolic troughHouseholds supplied with clean energy: 70,000 approx.CO2 emissions prevented per year: 475,000 t.Status: OperationPartner: Liberty Interactive Corporation

Solana United States

Our plants

Estados Unidos

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Location: California, U.S.Output: 280 MWTechnology: Parabolic troughHouseholds supplied with clean energy: 54,000 approx.CO2 emissions prevented per year: 350,000 t. Status: Under construction

Mojave Solar United States

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Location: Caceres, SpainOutput: 4 x 50 MW (4 independent commercial plants)Technology: Parabolic troughHouseholds supplied with clean energy: 104,000 approx.CO2 emissions prevented per year: 125,000 t. Status: OperationPartner: Itochu (Solaben 2 and Solaben 3)

Extremadura Solar Complex Spain

Our plants

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Location: Seville, SpainOutput: 183 MW total (7 independent commercial plants)Technology: Tower (20 MW, 11 MW), parabolic trough (3 x 50 MW) and PV (2 x 1MW) Households supplied with clean energy: 94,000 approx.CO2 emissions prevented per year: 114,000 t. Status: Operation

Solucar Complex Spain

Annual Report 2013

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Location: Seville, SpainOutput: 2 x 50 MW (2 independent commercial plants)Technology: Parabolic troughHouseholds supplied with clean energy: 52,000 approx.CO2 emissions prevented per year: 62,800 t. Status: OperationPartner: E.ON

Ecija Solar Complex

Location: Córdoba, SpainOutput: 2 x 50 MW (2 independent commercial plants)Technology: Parabolic troughHouseholds supplied with clean energy: 52,000 approx.CO2 emissions prevented per year: 62,800 t.Status: OperationPartner: JGC

El Carpio Solar Complex

Spain

Spain

Our plants

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Location: Ciudad Real, SpainOutput: 2 x 50 MW (2 independent commercial plants)Technology: Parabolic troughHouseholds supplied with clean energy: 52,000 approx.CO2 emissions prevented per year: 62,800 t. Status: Operation

Castilla-La Mancha Solar Complex

Location: SpainOutput: 12 MW total (5 independent commercial plants)Technology: PhotovoltaicsHouseholds supplied with clean energy: 6,000 approx.CO2 emissions prevented per year: 6,500 t. Status: Operation

PV plants

Spain

Spain

Solana’s thermal energy storage system is able to generate power at maximum capacity for six hours without solar radiation, producing electricity when needed, at night or through transitory cloudy periods.

Annual Report 2013

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Location: Abu Dhabi, United Arab EmiratesOutput: 100 MWTechnology: Parabolic troughHouseholds supplied with clean energy: 20,000 approx.CO2 emissions prevented per year: 175,000 t. Status: OperationPartners: Masdar & Total

Shams-1

Location: Hassi R’Mel, AlgeriaOutput: 150 MWTechnology: Integrated solar combined-cycle (ISCC)CO2 emissions prevented per year: 175,000 t. per yearStatus: OperationPartner: NEAL

Hassi R’Mel Algeria

United Arab Emirates

Our plants

31

Location: Upington, South AfricaOutput: 50 MWStorage: 2 hours (steam)Technology: TowerHouseholds supplied with clean energy: 45,000 approx.CO2 emissions prevented per year: 183,000 t. Status: Under constructionPartners: IDC & Khi Community Trust

Khi Solar One South Africa

Annual Report 2013

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Location: Pofadder, South AfricaOutput: 100 MWStorage: 2.5 hours (molten salts)Technology: Parabolic troughHouseholds supplied with clean energy: 65,000 approx.CO2 emissions eliminated each year: 315,000 t.Status: Under constructionPartners: IDC & KaXu Community Trust

KaXu Solar One South Africa

Our plants

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Location: Pofadder, South AfricaOutput: 100 MWStorage: 5 hours (molten salts)Technology: Parabolic troughHouseholds supplied with clean energy: 90,000 approx.CO2 emissions prevented per year: 398,000 t.Status: Pre-constructionPartners: IDC & KaXu Community Trust

Xina Solar One

Location: Negev, IsraelOutput: 110 MWTechnology: Parabolic troughHouseholds supplied with clean energy: 63,000CO2 emissions prevented per year: 300,000 t. Status: Pre-constructionPartner: Shikun&Binui

Ashalim Israel

South Africa

34

Annual Report 2013

Summary of our plants

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Parabolic trough technology heats a fluid flowing through the solar field to approximately 390º C. This heat is used to produce steam to drive a turbine, generating clean energy.

Annual Report 2013

Tecnología

Products and Services

• Design, manufacturing, and marketing of key components both for our own plants and for third-party projects, either alone or in collaboration with other companies.

• Supply of equipment and services for the operation and maintance of solar plants.

• Custom designed applications of heat and electricity generation for industrial clients.

• Engineering, procurement, and construction (EPC) turnkey services of our solar thermal and photovoltaic plants.

abengoasolar.com

Annual Report 2013

38

Products and Services

Key componentsAbengoa Solar offers the design, manufacturing, and development of key components both for our own plants and for third-party projects.

Tower heliostats In 2013, we began marketing a new heliostat model, the ASUP 140. This design delivers a cost reduction of 30% in the solar field with an optimized structure that minimizes material requirements. Beyond the reduction of costs, the ASUP 140 demonstrated an improved efficiency through the incorporation of an innovative concept combining a 2 mm- thick high-reflectivity glass panel and a foam layer that increases its bearing capacity..

Parabolic trough collectors The E2 parabolic trough collector, designed by Abengoa Solar, incorporates a set of improvements allowing for more efficient assembly and optimized performance. This collector was installed in plants all around the world during 2013, from Solana in the United States to KaXu Solar One in South Africa and Solaben 1 and Solaben 6 in Spain. The collector is offered both as a standalone product and as part of turnkey solar field projects. More than 3,100 E2 parabolic trough collectors were installed in 2013.

• New SpaceTube® collector In 2013, Abengoa Solar completed development of a large aperture parabolic trough collector. The SpaceTube® represents a new generation of trough collector that maximizes efficiency and offers significant cost reductions. Key advantages:

- increased concentration factor allowing for more solar energy reflection upon the absorber tube;

- 8-meter-plus aperture width;

- significant savings in the solar field;

- lighter structure that reduces material requirements;

- enhanced rigidity, resistance and optical precision.

The Department of Energy of the United States in 2013 awarded a contract to Abengoa Solar to upgrade the different aspects of production and assembly of SpaceTube® in the next two years.

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HCPV modules

• Module M300™: This component has a concentrating factor of 1000x, in addition to an operational efficiency above 30%.

• Module M300S™: In 2013, we brought into the market an optimized version of our HCPV module. This design offers a concentrating factor of 1300x, improved performance in operation, and the highest efficiency on the market. This translates to higher profitability, as well as higher local content. These modules, in agreement with the strictest international certifications such as IEC (International Electrotechnical Commission) and UL, are designed to build major photovoltaic plants with installed power capacity exeeding 1 MW.

They achieve the lowest LCOE (levelized cost of energy) in very hot and sunny areas. In terms of manufacturing, they allow for the highest local content, up to 70%.

Solar trackers for PV modules

• T140™ solar tracker: With a 144 sq. meter surface area, high stability, and tracking accuracy, as well as high wind resistance, this tracker is designed specifically for HCPV modules. There is a second version of this design for conventional PV modules.

• T30™ solar tracker: This model has a 54 sq. meter surface area, high tracking accuracy and wind resistance. No concrete is needed for installation, making it faster and more cost- effective. Abengoa offers two versions of this module, adapted to both conventional and concentrating PV technologies.

• Tornasol™ solar tracker: An 8 sq. meter surface area, high accuracy, and low visual impact make this tracker the best HCPV option for rooftops and areas where other trackers can pose a visibility concern.

Products and services

Industrial applicationsAbengoa Solar offers solar thermal collectors and PV modules for energy production for industrial clients around the world.

PT-1 This module of proprietary technology is the industrial application collector most extensively used for large installed capacity through different climatic zones. Features:

- operates under a wide range of temperatures, up to 250 °C;

- single axis tracking;

- aluminum construction for maximum durability and reliability;

- custom configured to meet client demands;

- low operation and maintenance costs.

RMT Abengoa Solar also offers the RMT, a smaller version of the PT-1 designed for rooftop installations.

Annual Report 2013

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Industrial Applications Projects

• Client: Minera El Tesoro Location: Atacama Desert, Chile Production: Thermal energy for 24/7 electro winning process. Features: 1,280 PT-1 collectors with 181,000 ft² aperture area on 6 hectares of land.

• Client: Master Coatings Location: Minnesota, U.S. Production: Used to offset energy load at paint manufacturing facility.

• Client: Federal Correctional Institute Location: Colorado, U.S. Production: Domestic hot water for heating. 15,000 gallon hot water storage tank allows 24-hour hot water supply. Features: 22,723 ft² PT-1 solar thermal collector system.

• Client: Cochise Community College Location: Arizona, U.S. Production: Supplemental heating and air conditioning. Features: 48 PT-1 solar thermal collector modules.

• Client: Kraft Foods Location: Recife, Brazil Production: Pressurized water at 230° F Output: 350 kW Uses: Cooking, cleaning, drying and pasteurizing. Features: 48 PT-1 modules in 2 rows, 492 feet long; total aperture area of 6,814 ft ².

• Client: Steinway and Sons Location: New York, U.S. Production: Heat used for process steam and HVAC. Features: High-efficiency, two-stage absorption chiller connected to 5,393 ft² PT-1 solar thermal collector.

• Client: Cummins, Inc. Location: Minnesota, U.S. Production: Provides supplemental electricity to offices and manufacturing facility. Features: Multi-site 80 KW solar PV system.

Abengoa Solar developed O&M services in 2013 with the creation of two new areas: centralized engineering and predictive maintenance.

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O & M equipmentAbengoa Solar is the leading solar plant operator worldwide and has accumulated extensive experience, allowing for the highest levels of solar electric generation. Condor reflectometer The Condor reflectometer is an innovative portable device used to accurately measure mirror reflectivity in the solar field. It provides the information necessary to optimize cleaning strategies, thus minimizing costs and improving solar field performance.

Mini Incus spectrophotometer Patented in 2013, the Mini Incus spectrophotometer is a device that contributes to the optimization of parabolic trough plant operation. It evaluates the optical properties of the receiving tube to achieve higher electric production levels and maximize revenues.

Cleaning trucks Abengoa Solar offers the services of cleaning trucks for both heliostats and parabolic trough mirrors. Our experience with the use of these vehicles proves that an optimized cleaning strategy results in higher electricity production and less water consumption.

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Products and services

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O & M servicesOur long experience has trained us to offer the highest quality standards for solar plant management.

Centralized engineering Abengoa Solar opened a new department in 2013 for centralized engineering with the objective of maintaining the plants at the highest performance and production levels. Its goal is to equalize standards of production at each of Abengoa’s solar plants.

Operations Our long-term experience provides us with highly qualified personnel in the management of solar thermal electric plants.

The operation of plants encompasses the following activities:

- weather forecasting;

- production model execution;

- interaction with electric markets;

- production monitoring and analysis;

- monitoring and planning of the solar field cleaning.

Abengoa Solar offers commissioning and performance optimization to third parties. These services increase power generation in solar plants, consequently resulting in higher income.

Abengoa Solar has 23 plants in operation worldwide, which has provided the company with the experience to optimize performance, a service offered to third parties.

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Maintenance In January 2013, a centralized maintenance department was put in place, representing an important step for the improvement of our services aimed at optimal solar plant function. The maintenance of our plants has resulted in the development of highly qualified staff in the following areas:

- mechanics

- electricity

- software control and instrumentation of the solar field

- solar field cleaning

• Preventive maintenance The preventive maintenance team, created in the first quarter of 2013, performs tasks necessary to reduce the number of corrective actions, anticipating potential failures of equipment through comprehensive monitoring and post-analysis of selected component performance.

Technical audits Since 2013, we have offered other companies all the knowledge and experience gained though the operation and maintenance of plants with our technical audit and optimization of solar plant services. Audits identify points critical to offering solutions to the optimization of plant performance. We guarantee greater electrical generation and optimization plan resources, leading to higher revenues.

EPC servicesAbengoa offers its vast experience to third parties via EPC services. We can design and build a solar plant, and deliver turnkey installation, or cater to the specific needs of clients in any phase of plant construction.

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Expansion tanks at Solana manage heat transfer fluid volume changes when reaching high temperatures.

Annual Report 2013

Tecnología

2013 HighlightsKhi Solar One • Average of 600 employees.

• 2 hours of steam storage to support stable electricity generation.

Khi Solar One uses super-heated steam, dry cooling technology, and a two-hour steam storage system. Technological advances incorporated in the design of this plant will increase efficiency and availability, as well as reduce water consumption when compared to previous tower plants. In August 2013, the tower reached its maximum height, 205 meters. This is one of the three tallest towers in Africa.

Annual Report 2013

Tecnología

Social Responsibility

Abengoa Solar believes in the necessity to establish strong relationships with all stakeholders. Only by working together will we build a sustainable future based upon the benefits of solar power.

Facing current and future challenges requires a joint effort of each and every one of the stakeholders. Different areas and departments in Abengoa Solar carry out such work. This strategy for social responsibility guarantees sustainability of our business activities as well as a positive social impact.

abengoasolar.com

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Social Responsibility

Local community

Professional training in Spanish solar complexes Abengoa Solar supports local secondary education institutions by signing training agreements, enabling students to do apprenticeship programs in our solar complexes. Students have access to their first professional experience, integrated in the teams in charge of running our plants. These students will be able to satisfy human capital demand generated by the solar complexes once they complete their education. This opportunity fosters entrepreneurship in participants, setting the basis for the potential creation of a long term local supply chain for our facilities.

KaXu Community Trust & Khi Community Trust Khi Community Trust and KaXu Community Trust are partners in the project companies of Abengoa Solar solar thermal electric plants in South Africa. These entities, wich include members of the local community, are responsible for providing support to improve skills and know-how in areas such as entrepreneurship, leadership, education, infrastructure and personal development for the communities.

Collaboration agreements with municipalities in Spain Our company supports the Spanish municipalities in wich our solar plants are located by means of collaboration agreements. Thus, the company has participated in a myriad of programs promoting social development, heritage conservation, cultural activities, and environmental protection..

Currently, there are multiple active agreements distributed throughout Spain. For instance, in 2013 we renewed our agreement with Aznalcollar (Seville, Spain) in the proximities of the Solucar Complex

Social responsibility

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Employees

Continuous education Abengoa Solar invests annually in the continuous improvement of the staff. In 2013, our employees received an average of 67.19 hours of training. Of special value is the training on risk prevention in the working environment,

offered annually to all employees in our plants in commercial operation. This training relies on our company’s belief in the importance of a preventive culture.

Suppliers

Social Responsibility Code for suppliers Abengoa requires requires suppliers and sub contractors to abide by a Social Responsability Code. Abengoa Solar continued in 2013 supporting suppliers with training to issue their own Greenhouse Gas Inventory. This strategy, introduced in 2008, allows the company to measure the enviromental impact of its economic activity.

Supply chain Supply chains generated in the construction and operation of our projects push the local economy, after resulting in the creation of new factories and subcontracting of local services. In the United States, the Solana project involved the participation of more than 165 companies spanning through 29 states. The supply chain in Mojave Solar, in California, employed 115 companies in 19 states. In Spain, with 20 solar plants in operation, local content is as high as 99.3 % of the total supply.

Annual Report 2013

Society

Associations for the development of renewable energy Abengoa Solar is an active member of the main renewable energy associations worldwide. As a company, taking part in these associations means an investment in the development and promotion of renewable energy technologies, pursuing the goal of achieving a sustainable future for generations to come. In addition to the renewal of our commitment to

national and international level organizations, Abengoa Solar promoted the development of solar energy by sponsoring international events such as SolarPaces 2013.

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Abengoa Solar raises awareness about environmental conservation in the communities in wich it is present.

In 2014, Abengoa Solar will start operation of 430 MW for a total of more than 1.5 GW of power in commercial operation worldwide.

Mojave Solar, the 280 MW plant under construction in California (U.S.), will start commercial operation in 2014.

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Chairman Javier Benjumea

Vice-Chairman* Daniel Villalba

Chief Executive Officer Armando Zuluaga

Director Manuel Sánchez Ortega

Director Santiago Seage

Director* Guadalupe Sundheim

Director* Francisco Javier Salas

Director* Bernardo Villazán

Director* Manuel Gasset

Director José Domínguez Abascal

Non-member Board Secretary Fernando de las Cuevas

Chief Executive Officer Armando Zuluaga

Deputy Director Antonio González Casas

Spain Eduardo Duque

United States Frederick Redell

Europe, Africa and Abu Dhabi Michael Geyer

Middle East, Asia and Australia Craig Windram

Chief Technology Officer Teodoro López

U.S. Chief Technology Officer Henry Price

Secretary General Fernando de las Cuevas

Finance Javier Albarracín

Consolidation, Planning & Control David Fernández

Engineering Miguel Ángel Cruz

Operations David Gámez

Construction Supervision Lara Álvarez

Internal Audit Sara Migueláñez

Human Resources Pablo Barrasa

Quality, H & S, Environment Antonio de la Torre

Solucar/Ecija Valerio Fernández

El Carpio/Castilla-La Mancha José Emilio Camacho

Extremadura Rafael Sánchez

Solana (O & M) Scott Nolan

Mojave Solar (O & M) Nicholas Potrovitza

KaXu Solar One/Khi Solar One José Esteban del Corral

Shams-1 (O & M) Jorge Osborne

Management StructureBoard of directors

Management

Solar Complexes Management

* Independent Director

Management structure

Tecnología Nuestras plantas Productos y servicios Responsabilidad social

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