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August

The European Investment Bank participates in the financing of Solucar's Solar Platform in Sanlucar la Mayor (Seville, Spain)

August 8, 2007

Madrid, August, 7 2007. - The company Solucar, Abengoa’s Solar Energy subsidiary, has signed an agreement with the European Investment Bank and Caja de Ahorros del Mediterráneo for their participation in the first two solar plants at the Sanlucar la Mayor Platform in Seville (Spain).

The signing of this agreement means the cession to the European Investment bank and Caja de Ahorros del Mediterráneo of part of the participations in the credit of the aforementioned companies and, as a consequence of which, both financing entities become financers of these projects together with Caja de Madrid and Natixis.

These two solar plants, which will be the largest in the world to operate at commercial level with tower and heliostat field technology, are part of the Sanlucar la Mayor Solar Platform (Seville). A further six different solar technology plants will be added to these two to assure the attainment of the 300 megawatt installed capacity output objective that, in turn, will make the Solar Platform an international reference as it will be the largest in Europe.

The two plants, with a rating of 11 and 20 megawatts, respectively, utilize tower and heliostat field technology. This consists of concentrating solar rays onto the upper section of a more than 100-meter tower by utilizing 120 square-meter mobile mirrors (624 units for PS10 and 1,255 for PS20) focused on the sun by means of a control system. The solar receiver on the upper section of the tower produces steam that is transferred to a conventional turbine that generates electricity.

PS10 is the first of its kind for commercial use and has been operating since early this year while attaining its operational objectives. The commencement of operation of these two solar power plants will result in a reduction of emissions into the atmosphere of some 54,000 tons of CO2 per year while, at the same time, providing sufficient electricity to cover the needs of almost 18,000 homes.

The structured financing incorporates a 136.3 million euro Senior section and a 12.4 million euro VAT credit.

Abengoa is a technology company applying innovative solutions for sustainable development in the infrastructures, environment and energy sectors. It is a listed company with a market capitalization of 2,915.83 million euro (06/08/2007) and is present in more than seventy countries, where it operates with five Business Units: Solar, Bioenergy, Environmental Services, Information Technologies, and Industrial Engineering and Construction (www.abengoa.com).



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