Isolux´s SPV Department

1. Buildingthepresent Shapingthefuture SOLAR PHOTOVOLTAIC DIVISION

2. 1. COMPANY HIGHLIGHTS

3. Grupo IsoluxCorsán| CompanyHighlights MAIN FIGURES 2009 TheLargestUnlistedSpanishGroup in the sector € 3 Billionannualrevenues € 10.6 BillionannualContracting € 25.8 Billion Portfolio 8,000 Employees

4. Grupo IsoluxCorsán| CompanyHighlights Active presence in 25 countries 8 maininternationalbranches America (9) Argentina Brazil Chile Ecuador GuatemalaMexico Nicaragua PeruUnited States Europe(5) Italy Poland Portugal Romania Spain Africa (7) Algeria Angola Eq. GuineaGabonMauritania Morocco Mozambique Asia (4) India Jordan Qatar Syria

5. Grupo IsoluxCorsán| Mainfinancial figures (In Million Euros) PROGRESS OF CONTRACTING 10,653 MARKET %NATIONAL / INTERNATIONAL 8,843 IN 2006 83 % / 17 % 5,105 IN 2007 48 % / 52 % 2,576 2,080 IN 2008 37 % / 63 % IN 2009 15 % / 85 % EBITDA 118%

6. Grupo IsoluxCorsán| Mainfinancial figures (In Million Euros) Operationrevenues 3,317 3,018 2,415 1,941 1,583 Portfolio 25,839 International 15,565 9,474 National 5,614 6,375

7. Grupo IsoluxCorsán| Business Areas

8. 2. RENEWABLE ENERGIES

10. Construction of turnkeybiofuelproductionplantsThePlant of Castellón isthelargest in Europe

12. Factory of PV solar panels (T-Solar)

14. 2.1.- 2007-2010 EPC PROJECTS

15. Renewableenergies| Solar Energy: SUMMARY TOTAL EPC EXECUTED / UNDER CONSTRUCTION: OTHER PROJECTS 2007-2008: 7,3MW T-SOLAR PROJECT 2008: 137MW PROJECTS 2009: 26,29MW PROJECTS2010: 97,06MW TOTAL EPC REFERENCES: 267MW

16. Renewableenergies| Solar Energy: T- Solar Project 2008 € 900 millioninvestment 28 Farms 121,37 MW 137 MW

18. ALL DEPARTMENTS INVOLVED:

19. RESOURCES

20. FINANCE AND ADMINISTRATION

21. BUSINES DEVELOPMENT

22. ENERGY

23. ENVIRONMENT

24. INSTALLATIONS/FACILITIES

26. SeniorDebt: € 700 M

27. Equity: € 125 M

28. VAT Debt: € 112 M

29. GuaranteeFacility: € 50 M

30. Leverage: 85/15

31. 12 banksparticipated in theinitialfinancing and 13 more participated in thesubsequetsyndication .

32. Caixa Nova and Caja Navarra financed 3 otherparks .

33. SeniorDebt: € 60 M

34. Equity: € 15 M

35. VAT Debt: €9 M

36. Leverage : 80/20EUROPEAN SOLAR PROJECT 2008

38. Annual production 43,845 MWh

39. Annual avoided emissions:

40. CO2 43,000 t/n

41. SO2 317 t/n

42. NOx 235 t/n

43. Used area 70 hectares

44. First step of the project 2008 / 03 / 05

45. First operation date 2008 / 09 /12

46. Construction record period 6 MONTHSRenewableenergies| Solar Energy One of thebiggest solar farms in operation: ARNEDO SOLAR FARM (SPAIN)

47. Renewableenergies| Solar Energy:OtherProjects 2007-2010 2010 Award: ROVIGO SOLAR FARM (ITALY) - 69,5 MW THE BIGGEST SOLAR FARM IN EUROPE 29 Farms 130 MW

49. Annual production 78,587 MWh

50. Annual avoided emissions:

51. CO2 41,000tons

52. Equivalent consumption: 17.150homes

53. Used area 85 hectares

54. First step of the project March 2010 Renewableenergies| Solar Energy Thebiggest solar plantin Europe: ROVIGO SOLAR FARM (ITALY) ROVIGO

55. 2.2.- INSTALLATION HIGHLIGHTS

56. ALCOLEA 8.10MW SOLAR PV PLANT ALCOLEA MUNICIPALITY: ALCOLEA / PROVINCE: CÓRDOBA / REGION: ANDALUCÍA

57. ALMODOVAR 8.60MW SOLAR PV PLANT ALMODOVAR MUNICIPALITY: ALMODOVAR DEL RÍO/ PROVINCE: CÓRDOBA / REGION: ANDALUCÍA

58. ARCHIDONA 6.50 MW SOLAR PV PLANT ARCHIDONA MUNICIPALITY: ARCHIDONA/ PROVINCE: MÁLAGA / REGION: ANDALUCÍA

59. ARNEDO 30.00 MW SOLAR PV PLANT ARNEDO MUNICIPALITY: ARNEDO/ PROVINCE: LOGROÑO / REGION: LA RIOJA

60. EL CARPIO 11.61MW SOLAR PV PLANT EL CARPIO MUNICIPALITY: EL CARPIO/ PROVINCE: CÓRDOBA / REGION: ANDALUCIA

61. ELDUAYEN 10.00MW SOLAR PV PLANT ELDUAYEN MUNICIPALITY: VALVERDE DE MÉRIDA/ PROVINCE: BADAJOZ / REGION: EXTREMADURA

62. ESPEJO 1.13MW SOLAR PV PLANT ESPEJO MUNICIPALITY: ESPEJO/ PROVINCE: CÓRDOBA / REGION: ANDALUCÍA

63. FUENTES DE VALDEPERO 4.00MW SOLAR PV PLANT FUENTES DE VALDEPERO MUNICIPALITY: FUENTES DE VALDEPERO/ PROVINCE: PALENCIA/ REGION: CASTILLA Y LEÓN

64. LA POZA 3.06 MW SOLAR PV PLANT LA POZA MUNICIPALITY: FUENTE OBEJUNA/ PROVINCE: CÓRDOBA / REGION: ANDALUCÍA

65. LA SECA 0.96MW SOLAR PV PLANT LA SECA MUNICIPALITY: LA SECA/ PROVINCE: VALLADOLID / REGION: CASTILLA Y LEÓN

66. LES TRENCADES 0.70MW SOLAR PV PLANT LESTRENCADES MUNICIPALITY: ONDA/ PROVINCE: CASTELLÓN / REGION: VALENCIA

67. LOS MOCHUELOS 1.10MW SOLAR PV PLANT LOS MOCHUELOS MUNICIPALITY: CHICLANA DE SEGURA/ PROVINCE: JAÉN / REGION: ANDALUCÍA

68. MADRIGAL 0.44 MW SOLAR PV PLANT MADRIGAL MUNICIPALITY: MADRIGAL DE LAS ALTAS TORRES/ PROVINCE: ÁVILA / REGION: C. Y LEÓN

69. MEDINA DE LAS TORRES 2.00MW SOLAR PV PLANT MEDINA DE LAS TORRES MUNICIPALITY: MEDINA DE LAS TORRES / PROVINCE: BADAJOZ / REGION: EXTREMADURA

70. MOGAN BACOL 1.52 MW SOLAR PV PLANT MOGAN BACOL MUNICIPALITY: ARICO / PROVINCE: TENERIFE/ REGION: CANARIAS

71. MORITA 7.52 MW SOLAR PV PLANT MORITA MUNICIPALITY: AGUILAR DE LA FRONTERA / PROVINCE: MÁLAGA / REGION: ANDALUCÍA

72. POZAL DE GALLINAS 4.00MW SOLAR PV PLANT POZAL DE GALLINAS MUNICIPALITY: POZAL DE GALLINAS / PROVINCE: VALLADOLID / REGION: CASTILLA Y LEÓN

73. POZOCAÑADA 2.90MW SOLAR PV PLANT POZOCAÑADA MUNICIPALITY: CHINCHILLA DE MONTEARAGÓN / PROVINCE: ALBACETE / REGION: C. LA MANCHA

74. POZOHONDO 3.50MW SOLAR PV PLANT POZOHONDO MUNICIPALITY: POZOHONDO / PROVINCE: ALBACETE / REGION: C. LA MANCHA

75. SON FALCONER 2.20MW SOLAR PV PLANT SON FALCONER MUNICIPALITY: MARRATXI / PROVINCE: PALMA DE MALLORCA / REGION: BALEARES

76. TALAYUELA 0.90 MW SOLAR PV PLANTTALAYUELA MUNICIPALITY: TALAYUELA / PROVINCE: CÁCERES / REGION: EXTREMADURA

77. TARIFILLA 0.60 MW SOLAR PV PLANT TARIFILLA MUNICIPALITY: LOS MOLARES / PROVINCE: SEVILLA / REGION: ANDALUCÍA

78. VEGUILLA 7.04MW SOLAR PV PLANT VEGUILLA MUNICIPALITY: MONTORO / PROVINCE: CÓRDOBA / REGION: ANDALUCÍA

79. SIGÜENZA 3,000 MW 1,100 MW SOLAR PV PLANT SIGÜENZA MUNICIPALITY: SIGÜENZA / PROVINCE: GUADALAJARA / REGION: CASTILLA LA MANCHA

80. AUTONOMA UNIVERSITY 0.85 MW SOLAR PV PLANT AUTONOMA UNIVERSITY MUNICIPALITY: MADRID / PROVINCE: MADRID / REGION: MADRID

81. SAELICES 10 MW SOLAR PV PLANT SAELICES MUNICIPALITY: SAELICES/ PROVINCE: CUENCA / REGION: CASTILLA LA MANCHA

82. FUENTE ALAMO 7.0 MW SOLAR PV PLANT FUENTEALAMO MUNICIPALITY: FUENTE ALAMO / PROVINCE: MURCIA / REGION: MURCIA

83. TSOLAR 0.200 MW SOLAR PV PLANTTSOLAR MUNICIPALITY: S. CIBRAO / PROVINCE: ORENSE/ REGION: GALICIA

84. ROVIGO 69.5 MW SOLAR PV PLANTROVIGO MUNICIPALITY: S. BELLINO - CASTELGUGLIELMO / PROVINCE: ROVIGO / REGION: VENETO, ITALY

85. CAMPANIA 18.00 MW SOLAR PV PLANTCAMPANIA MUNICIPALITY: / PROVINCE: NAPOLI / REGION: CAMPANIA, ITALY

86. THANKS FOR YOUR ATTENTION !