Gianluigi Angelantoni

Presidente Archimede Solar Energy

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STORIE DI RICERCA E DI IMPRESA: INNOVARE SI PUO’! ENEA, Via Giulio Romano, 41 – Roma

16 luglio 2013

Archimede Solar Energy Shareholding structure

Chiyoda’s expertise and resources will allow ASE to accelerate growth, reach its full potential and ensure its long-term success by joining an exceptional platform

85% 15%

Strategic rationale Capital structure

Founded on 1948

Integrated Engineering & Construction

Employees: 7,000 (Global Basis)

Revenue: USD 3.2 Billion (for 2011)

Sector: petroleum, petrochemical, chemical.

Shareholders

Founded on 1932

Employees: 800 (Global Basis)

Fields: Testing, Life Science, Renewable Energy.

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ASE has a worldwide patent in an innovative CSP technology – molten salt receivers developed together with ENEA(1)

Molten salt technology offers several advantages compared to oil: − Suitable for high

temperature - more than 550°C

− Lower volume required for thermal energy storage systems

− No heat exchanger necessary in molten salt power plants

− Much cheaper than synthetic oil

− Environmental friendly / non-toxic / non-flammable

First producer of molten salts receivers

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ASE can produce receivers for all current technologies in the market: Oil, Molten Salt and Direct Steam Generation (DSG)

ASE receivers for Oil technology have a better technical features against others

ASE receivers offer a high Product Reliability in all technologies

Flexible production process through a proprietary sputtering machine that can be easily tuned to produce different coating formulas according customer’s request

Diversified product portfolio 2

Main projects located in Italy:

− 4 in Sardinia

− 1 in Sicily

− 1 in Basilicata

International projects located in China, California, New Mexico and Egypt

In September 2012, Chiyoda entered ASE’s share capital with a 15% stake

− Chiyoda is a Japanese company engaged in integrated engineering

Chiyoda’s expertise and resources will allow ASE to accelerate growth in selected markets and projects

275MW of projects Strong EPC contractor as

a strategic shareholder 3 4

(1) Italian National Research Agency for Renewable Energy.

Archimede Solar Energy Demo Plant the rationale of the project

Technology To enhance the economy and reliability of parabolic-trough power plants using MS as HTF

Research A focus for research oriented to the new frontiers of CSP

Bankability Will provide data and reference for the financial closing of the commercial scale projects

Italianism The Italian component suppliers will benefit from the results of their products working on test loop

Market The demo plant is the LANDMARK of the upcoming Italian CSP Market

Divulgation Sensitize National Institutions, popular committees, citizens about the real value proposition of CSP

Education Customer, University, Students

First stand alone MS test loop 5

Archimede Solar Energy Demo Plant the contribution of the Italian Supply Chain

Mirrors

Trackers

Receiver Tubes

Flexible Hoses

Valves

Storage Tanks

Air Cooler

Piping

Meteo Station

Solar Collector

Civil Work

Mechanical Contractor

Electrical Contractor

MS Pumps

DCS

Salts

> 90% components of a standard scale CSP Plant

Engineering

Advantages 1 ： Higher Fluid Temp → Higher Steam Cycle Efficiency 2 ： Molten Salt as HTF → More Simple System 3 ： Higher Storage Temp → Smaller Storage Volume 4 ： Environmental Friendly

Storage Tank Steam Generator

Steam Turbine

290 ℃

390 ℃

~ 390 ℃ ~ 375 ℃

290 ℃

290 ℃

550 ℃

~ 550 ℃ 535 ℃

290 ℃

2.5times

Heat Exchanger

Conventional Parabolic Trough Molten Salt Parabolic Trough

Molten Salt Parabolic Trough Technology

Archimede Solar Energy Demo Plant The RoadMap

Demo Plant 1 Commercial-scale

project in Italy 2

Large scale CSP – Main target MENA Region

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In July 2012, the Italian Minister of Economic Development and the Minister of Environment approved a new decree for the new renewable energy mix, with the highest Feed-in-Tariffs in the world

600MW of expected CSP Plant connected to the grid by 2020 – (Action Plan)

Saudi Arabia has an objective of 25GW of operational CSP before 2032, Kuwait targets a 2,000MW, Morocco 2000MW CSP etc

The International Energy Agency forecasts CSP will contribute 28% of all renewable generation by 2060 (the highest growth potential). CSP is the only renewable energy able to store energy ( dispatch ability) 3

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On July the 3rd 2013 ASE and Chiyoda ground break the most advanced concentrated solar power installation with thermal energy storage.

Global Market Overview

Today, 63 CSP plants are in operation or being commissioned in the world, providing more than 2,700MW of installed capacity. Spain is the worldwide leader in CSP technology with more than 2,000MW installed and 432MW under advanced construction

The CSP industry will significantly build up capacity until 2015, with 12GW current project pipeline

2GW installed and in operation worldwide in 2012

Source: Protermosolar, 2012.

Spain: 1,1581MW (72,9%) Italy: 5MW (0.2%)

Egypt: 20MW (0.9%) Algeria: 20MW (0.9%) Morocco: 20MW (0.9%)

India: 6MW (0.3%)

Thailand: 5MW (0.2%)

Australia: 4MW (0.2%)

US: 510MW (23.5%)

Global Market Forecast

Saudi Arabia has an objective of 25GW of operational CSP before 2032, Kuwait targets a 2,000MW, Morocco 2000MW CSP etc

The International Energy Agency forecasts CSP will contribute 28% of all renewable generation by 2060 (the highest growth potential). CSP is the only renewable energy able to store energy ( dispatch ability)

More than 50GW installed worldwide within the next 20 years

Italy: 600MW – (2013-2017)

India: 2gw – (2013-2020)

Australia: 500mw (2013-2020)

LATAM: 1GW – (2013-2020)

Morocco: 2GW – (2013-2020) Tunisia: 500MW – (2013-2020

USA: 15GW – (2013-2020)

South Africa: 1GW (2013-2020)

China: 3gw - (2013-2020)

Saudi: 24GW – (2013-2032)

UAE: 1GW – (2013-2020)

KUWAIT: 2GW – (2013 – 2020)