Visit the Solar Institute for details of the 2011 Solar Symposium: solar.gwu.edu/Symposium.html

1. SOLARRESERVE OVERVIEW
April 2011
TURNING THE SUN INTO THE SOLUTION

2. COMPANY OVERVIEW
• California-based developer of large-scale solar power projects – includes development of
Concentrated Solar Power projects (CSP) and Photovoltaic (PV) projects.
• Exclusive 20-year license to the Molten Salt Power Tower technology from Pratt & Whitney
Rocketdyne, a subsidiary of United Technologies Corporation (UTC)
• Inherent thermal energy storage allows for dispatchable power on demand
• Lowest projected Levelized Cost of Energy (LCOE) of any CSP technology
• Significant projected future cost reductions and efficiency improvements expected
• Geographically diverse portfolio of more than 3,000 MW of CSP projects
• Three lead projects (300 MW) – two PPAs with $3.7 billion in projected revenues
• Late stage projects represent more than 600 MW under permitting
• 25 sites and more than 150,000 acres under control
• Expanding into Photovoltaic activities – development pipeline of more than 1,100 MW
• Primarily in the 5MW to 20 MW capacity proposed over 40 different sites
• Several large scale PV projects in the 50 MW to 200MW capacity range
• Expected to start construction on up to 400 MW in 2011
• Experienced management team with extensive energy industry experience
• More than 15,000 MW and $20 billion built and financed projects
• Experienced management/executives from Bechtel, Black & Veatch, Edison, Enron, HSBC,
Invenergy, LS Power, Nexant, Rocketdyne, Rolls Royce Power Ventures, and Sempra
Overview 2

3. SIGNIFICANT MARKET OPPORTUNITY
• The United States and Spain lead the global market in near-term capacity additions
• Other high DNI locations with great growth potential include North Africa, the Middle East, China,
Australia, and South Africa
Projected Global CSP Installed Capacity (Cumulative MW)
30,000
Global DNI locations
25,000
20,000
Cumulative Global MW
43%
‘10-’19
CAGR
15,000
10,000
5,000
0
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Installed CSP capacity is expected to grow at a 41% CAGR from 2010 to 2020 and will require over $100 billion of
cumulative investment through 2020
Overview 3

4. REFERENCE SOLAR POWER PLANT
• 150 MW = 10-12 Hours Operation • No Natural Gas Required = 0 Emissions
• Inherent Storage = 100% Dispatchable • Air Cooled = Minimal Water
• ~ 500+ GW/hours Annual (high quality DNI) • 24 month Construction
4

5. MOLTEN SALT POWER TOWER TECHNOLOGY
Thermal Storage 5

6. TECHNOLOGY VALIDATED AT SOLAR TWO
Receiver Performance
 Exceeded prediction
(receiver efficiency 88%) US DOE endorsing conclusions
 Achieved design
temperatures, flow rates, “The 10 megawatt Solar Two
and pressures power tower pilot plant near
Plant Performance Barstow, California,
successfully completed
 Dispatchability operations in April, 1999,
Storage Performance  Demonstrated electric having met essentially all of
power up to 24 hrs/day its objectives.”
 Demonstrated low daily heat
 Power output (10 MW
loss (98% efficiency) “Over the three-year
nominal)
 Continuous operation of operating lifetime, daily
pumps operation of Solar Two
became relatively routine,
with various performance
records broken on a fairly
regular basis.”
Collector Performance US Department of Energy –
 Demonstrated sun-tracking Sunlab Snapshot, March 2000
throughout the year
Solar Two exceeded performance targets and test objectives
6

7. DEVELOPMENT PORTFOLIO
• 3,000 MW/140,000 acres (56,000 ha) / • Early stage projects
25 sites • High DNI locations, large land areas
• Actively evaluating additional 40,000 acres identified, permitting not yet initiated
(16,000 ha) • 1,700+ MW
• Other international markets (Italy, Greece,
• Lead projects: North Africa, South Africa, the Middle East,
• Fully permitted, targeted financial close in and Australia)
2010 or early 2011
• 300 MW / 3 projects • Land rights to approximately 30,000 acres
• 1.2 million MWh / year (12,000 ha) and partial development of PV
>$200mm of EBITDA portfolio
and >$5.5 billion
in revenues
• Late stage projects:
• Secured over
90% of land
rights; proceeding
into full permitting
• Construction could
commence as early as
the end of 2011
• 650 MW / 6 projects
• 2.4 million MWh / year

8. LEAD PROJECTS
Project Name Tonopah Cinco Casas Rice
Location Tonopah, Nevada Alcazar de San Juan, Castilla-La Rice Airfield, California
Mancha, Spain
Size 100 MW 50 MW 150 MW
Approximate Base 460,000 MWh / year 300,000 MWh / year 440,000 MWh / year
Case (net effective
output MWh)
DNI (kWh / m2) 7.34 / day 5.6 / day 7.10 / day
2,680 / year 2,050 / year 2,590 / year
SolarReserve 100% 50 / 50 basis with Madrid-based 100%
Ownership Preneal
Targeted 2Q 2011 4Q 2011 3Q 2011
Construction Date
Other  25-year PPA executed with NV  Project received “Declaración de  25-year PPA executed with PG&E
Energy (Nevada), PUCN Impacto Ambiental del Proyecto” (California), CPUC approved
approved (“DIA”) in November 2009  Private land secured for project –
 Interconnection / transmission  DIA is the main environmental land under option by SolarReserve
secured for up to 180 MW (LGIA permit for the project (3,300 acres)
negotiated)  Joint Venture Agreement  Full Application for Certification
 BLM land secured for project executed with Preneal in October (“AFC”) filed in October 2009 with
 Project selected for “fast track” 2009 the California Energy Commission,
permitting by Department of  100% of the land is under option Dec approved
Interior, ROD Dec 2010 control (all private land)  Interconnection / transmission
 DOE LGP DD  50 MW interconnection secured application in place for California
ISO for 250 MW (initial security
posted) with WAPA alternative
 DOE LGP DD
8

9. MOLTEN SALT IS THE LEADING CSP TECHNOLOGY
Trough with Tower –
PV Trough Molten Salt Power Tower
Storage Direct Steam
Lowest projected LCOE for CSP
Cost projects – as determined by
independent studies
Inherent thermal storage allows for
Storage / dispatchable on demand power for
Dispatch up to 24 hours a day thus
eliminating intermittency issues
Economies of Central receiver design minimizes
active piping for utility scale plant
Scale applications
Consideration for the localization
% Local
of supply
Supply
Proven for three years at 10 MW
demo plant with significant
subsequent technology
Proven
improvements; engineering
Technology parameters at or below 1x scale-
up factors to increase receiver
thermal rating by 13x
Exclusive license agreement with
Bankability ability to secure technology supply
from UTC
Poor Outstanding
9

10. CONCLUSION
• Leading US–based developer of large-scale CSP and PV projects
• Exclusive license to leading Molten Salt Power Tower and Heliostat technology
• Proven at 10 MW demonstration plant built in cooperation with US Department of
Energy
• Inherent thermal energy storage allows for dispatchable power on demand – 12 to
16 hours of storage per project depending on utility requirements
• Lowest projected LCOE for CSP projects – as determined by independent studies
• Projected future cost reductions and efficiency improvements leading to significant
further LCOE reductions
• Extensive development portfolio:
• More than 3,000 MW of CSP projects with two signed PPAs in the US
• Over 1,100 MW of PV in various stages of development
• Experienced and proven management team with more than 15,000 MW ($20 billion) of
project experience and aggregate industry experience of more than 160 years
Overview 10