Abengoa CSP SA

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The Project consists of the construction and operation of two greenfield concentrating solar power (“CSP”) projects near the towns of Upington and Pofadder, in South Africa’s Northern Cape Province, by Abengoa Solar, through its affiliates Abengoa Solar South Africa (Pty) Ltd (“ASSA”) and Son Revieren (Pty) Ltd, in partnership with the Industrial Development Corporation (IDC). Abengoa Solar’s parent company, Abengoa S.A. (“Abengoa”) is a leading developer of renewable energy projects. CSP is a term used to describe a variety of technologies by which solar energy is concentrated onto a receiver to heat steam for use in industrial or electricity generation applications. !Ka Xu will use a parabolic trough CSP design and !Khi will use a power tower CSP design. The power plants will sell electricity to the state owned utility, Eskom, under twenty year power purchase agreements. !Ka Xu is a 100 MW parabolic trough CSP plant, with approximately 2.5 hours of molten salt storage, located 40 km from the town of Pofadder with an estimated total cost of ZAR 7.5 billion (approximately US$860 million). The solar plant will be located on the land of farm Scuit Klip 92 and will feed power into the Eskom Paulputs substation located approximately 1 km from the site. It will be structured as a special purpose vehicle and the project company is !Ka Xu CSP South Africa (Pty) Ltd.!Khi is a 50 MW steam receiver power tower CSP plant, with approximately 2.0 hours of steam storage, located 15 km from the town of Upington with a total provisional estimated cost of ZAR 3.9 billion (approximately US$445 million). The solar plant will be located on the land of farm Mc Taggarts Camp 453 and will feed power into the Eskom 132kV transmission line located approximately 5 km from the site. It will be structured as a special purpose vehicle and the project company is !Khi CSP South Africa (Pty) Ltd.