Press Room

• €475 million ($690M) have been raised to finance the two plants.

• Aries’ technology places the company as the world reference for efficiency in CSP and other renewable energy power plants.
  
  

Madrid - April 2011. Aries Ingeniería y Sistemas, a world leading renewable energy company, together with Elecnor and Eiser Global Infrastructure Fund, have closed the €475 million ($693M) investment with an international group of banks to finance two 50MW Concentrated Solar Power Plants (CSP) plants, ASTE-1A and ASTE-1B located in Alcázar de San Juan (Ciudad Real) for which Aries has performed the development and engineering of the plants. This milestone places the company among the most advanced international firms in CSP and renewable energy technology.

ASTE (Aries Solar Termo Eléctrica), a corporation founded by Aries Ingeniería y Sistemas is now owned by Aries, Elecnor and Eiser Global Infrastructure Fund.

Aries Ingeniería y Sistemas currently has another 50 MW CSP plant; ASTEXOL-2, in an advanced state of construction. Located in Badajoz, the plant reached financial closing in March 2010 with a total investment of €225M ($328M). Aries also owns two photovoltaic installations of 5 and 10MW already in operation. These PV plants had low development and construction costs and have demonstrated outstanding performance with very low maintenance costs during the past four years.

With this €475M ($693M) financing package, in the last few years Aries has achieved over €812M ($1,200M) of financing in renewable energy projects with a capital expenditure of more than €1,050M ($1,530 M), demonstrating the high esteem in which banks hold Aries’ projects.

Aries Ingeniería y Sistemas has a portfolio with over 1.000 MW in international renewable energy projects. The company currently is developing plants in USA, Spain, Romania, and Bulgaria, as well as participating in the construction of various Renewable Energy Power Plants in Gujarat (India), and is working on CSP projects in Egypt, Jordan, Morocco, Oman, UAE, and Chile.

Aries Ingeniería y Sistemas is an independent, global, and diversified engineering company that develops and applies the most efficient technology, high value added solutions with the highest qualified team of professionals. The company, with references in over 24 countries, develops technologies directed at specific markets, aiming for strong, stable, and profitable growth.