Document:

Exhibit
4.6

ORDINARY
SHARE PURCHASE AGREEMENT

by and among

ABENGOA
YIELD PLC

and

THE
PURCHASER NAMED HEREIN

May 8, 2015

    	 

    	 

    

PURCHASE AGREEMENT, dated as of May 8,
2015 (this “Agreement”), by and among Abengoa Yield plc, a public limited company incorporated under the laws
of England and Wales (the “Company”) and the Purchaser listed on Schedule A attached hereto (the “Purchaser”).
The Purchaser and the other persons purchasing ordinary shares from the Company pursuant to an ordinary share purchase agreement
with the Company dated the date hereof (each such person, an “Other Purchaser” and, together with the Purchaser,
the “Private Placement Purchasers”).

WHEREAS, the Company has entered into
an asset transfer agreement (the “Asset Transfer Agreement”) with Abengoa, S.A. (“Abengoa”)
dated May 4, 2015 for the purchase of renewable energy assets from Abengoa consisting of:

(a) 70.4% of the equity interests on
Helioenergy Electricidad Uno, S.A. and Helioenergy Electricidad Dos, S.A., through an usufruct agreement over 40.08% of the equity
interests of Écija Solar Inversiones, S.A., and 100% of the debt between Écija Solar Inversiones, S.A. and Abengoa
Solar España, S.A. related to the projects Helioenergy 1 and Helioenergy 2 (collectively, Écija Solar Inversiones);

(b) 100% of Helios I Hyperion Energy
Investments, S.L. and Helios II Hyperion Energy Investments, S.L., indirectly through the acquisition of 100% of the equity interests
on Hypesol Energy Holding, S.L., and directly through the acquisition of 100% of the equity interests that Abengoa Solar New Technologies,
S.A. owns in both project companies and the debt between Hypesol Energy Holding, S.L. and Abengoa Solar España, S.A. related
to these projects (collectively “Helios”);

(c) 100% of Solnova Electricidad Uno,
S.A., Solnova Electricidad Tres, S.A. and Solnova Electricidad Cuatro, S.A., indirectly through the acquisition of 100% of the
equity interests of Solnova Solar Inversiones, S.A. and directly through the acquisition of 100% of the equity interests that Instalaciones
Inabensa, S.A. owns in these project companies, and the debt between Solnova Solar Inversiones, S.A. and Abengoa Solar España,
S.A. related to these projects (collectively, “Solnova”); and

(d) 100% of the equity interests on Abengoa
Solar South Africa (Pty) Ltd., the owner, indirectly, of 51% of Kaxu Solar One (Pty) Ltd. and the debt between South Africa Solar
Investment, S.L. and Abengoa Solar South Africa (Pty) Ltd. related to this project (collectively “Kaxu”, and
together with Écija Solar Inversiones, Helios and Solnova, the “Third
Dropdown Assets”).

WHEREAS, the Company desires to raise
new capital to finance the acquisition of the Third Dropdown Assets through the issuance and sale of ordinary shares, $0.10 nominal
value, of the Company (the “Shares”). The Shares to be issued pursuant to this Agreement shall be issued in
accordance with Section 2 hereof and the Purchaser shall receive Depositary Receipts representing the Shares purchased by each
Purchaser at the Closing in accordance with the terms and conditions of this Agreement.

WHEREAS, the Company and the Purchaser
will, contemporaneously with the Closing, enter into a registration rights agreement (the “Registration Rights Agreement”),
substantially in the form attached hereto as Exhibit A, pursuant to which the Company will provide the Purchaser with certain registration
rights with respect to the Shares acquired pursuant to this Agreement.

NOW THEREFORE, in consideration of the
mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged, the Company and the Purchaser hereby agree as follows:

    	
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ARTICLE I

DEFINITIONS

Section 1.1.  Definitions. As
used in this Agreement, and unless the context requires a different meaning, the following terms have the meanings indicated:

“Abengoa Registration Rights
Agreement” means the Registration Rights Agreement, dated March 5, 2015 among the Company, Abengoa, Citigroup Global
Markets Limited, Merrill Lynch International, HSBC Bank plc and Morgan Stanley International & Co. plc.

“Affiliate” means,
with respect to a specified Person, any other Person that directly or indirectly through one or more intermediaries controls, is
controlled by or is under common control with, the Person in question. As used herein, the term “control” means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through the ownership of voting securities, by contract or otherwise.

“Agreement” shall
have the meaning specified in the introductory paragraph.

“Asset Transfer Agreement”
shall have the meaning specified in the recitals.

“Business Day” shall
mean any day other than a Saturday, a Sunday or a legal holiday or a day on which banking institutions or trust companies are authorized
or obligated by law to close in New York City.

“Closing” shall have
the meaning specified in Section 2.2.

“Closing Date” shall
have the meaning specified in Section 2.2.

“Commission” shall
mean the United States Securities and Exchange Commission.

“Commitment Amount”
means amount set forth opposite the Purchaser’s name under the column titled “Commitment Amount” set forth on
Schedule A hereto.

“Commitment Fee” means
a fee to be paid in cash by the Company on the termination of this Agreement in accordance with Section 7.1 to the Purchaser equal
to 1.0% of the Purchaser’s Commitment Amount.

“Company” shall have
the meaning specified in the introductory paragraph.

“Company Financial Statements”
shall have the meaning specified in Section 3.9.

“Company Material Adverse Effect”
means any material adverse effect on the condition (financial or otherwise), prospects, earnings, business or properties of the
Company together with its Subsidiaries, whether or not arising from transactions in the ordinary course of business.

“Company Related Parties”
shall have the meaning specified in Section 6.2.

“Company SEC Documents”
shall have the meaning specified in Section 3.9.

“CS Depositary Nominee”
shall have the meaning specified in Section 2.4(a).

    	
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“Delaware LLC Act”
shall have the meaning specified in Section 3.3.

“Depositary Receipts”
shall have the meaning specified in Section 2.4(b).

“DTC” means The Depository
Trust Company.

“Exchange Act” means
the Securities Exchange Act of 1934, as amended from time to time, and the rules and regulations of the Commission promulgated
thereunder.

“Form 6-K Filing”
shall have the meaning specified in Section 5.2.

“Governmental Authority”
means with respect to a particular Person, the country, state, county, city and political subdivisions in which such Person or
such Person’s Property is located or that exercises valid jurisdiction over any such Person or such Person’s Property,
and any court, agency, department, commission, board, bureau or instrumentality of any of them and any monetary authorities that
exercise valid jurisdiction over any such Person or such Person’s Property. Unless otherwise specified, all references to
Governmental Authority herein shall mean a Governmental Authority having jurisdiction over, where applicable, the Company and its
Subsidiaries or any of their Property or the Purchaser.

“IFRS” shall mean
International Financial Reporting Standards.

“IFRS as issued by the IASB”
shall mean IFRS as issued by the International Accounting Standards Board.

“Indemnified Party”
shall have the meaning specified in Section 6.3.

“Indemnifying Party”
shall have the meaning specified in Section 6.3.

“Law” means any federal,
state, local or foreign order, writ, injunction, judgment, settlement, award, decree, statute, law, rule or regulation.

“Liens” has the meaning
specified in Section 3.3.

“Marketing Materials”
means the presentation furnished to the Purchaser in connection with the offering and sale of the Shares as contemplated by this
Agreement.

“NASDAQ” means the
NASDAQ Global Select Market.

“New York Court” shall
mean any U.S. Federal or State court located in the State of New York, County of New York.

“Operative Documents”
means, collectively, this Agreement, the Registration Rights Agreement and any amendments, supplements, continuations or modifications
thereto.

“Other Purchasers”
shall have the meaning specified in the introductory paragraph.

“Party” or “Parties”
means the Company and the Purchaser, individually or collectively, as the case may be.

“Person” means any
individual, corporation, company, voluntary association, partnership, trust, limited liability company, unincorporated organization
or government or any agency, instrumentality or political subdivision thereof, or any other form of entity.

    	
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“PFIC” shall have
the meaning specified in Section 3.25.

“Placement Agent”
means Citigroup Global Markets Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated.

“Placement Agent Fees”
means the fees that the Company is obligated to pay to the Placement Agent upon the closing of the transactions contemplated by
this Agreement.

“Private Placement Purchasers”
shall have the meaning specified in the introductory paragraph.

“Property” means any
interest in any kind of property or asset, whether real, personal or mixed, tangible or intangible.

“Purchased Shares”
means the number of Shares, initially represented by Depositary Receipts, equal to the aggregate Commitment Amount set forth opposite
the Purchaser’s name under the column titled “Commitment Amount” set forth on Schedule A hereto divided by the
Share Price. References in this Agreement to Purchased Shares or Shares issued to, acquired by, sold to, held by, or owned by the
Purchaser are references to the Shares underlying the Depositary Receipts issued to, acquired by, sold to, held by, or owned by
the Purchaser in accordance with the terms of this Agreement.

“Purchaser” shall
have the meaning specified in the introductory paragraph.

“Purchaser Material Adverse
Effect” means any material adverse effect on (a) the ability of the Purchaser to meet its obligations under this Agreement
or the Registration Rights Agreement on a timely basis or (b) the ability of the Purchaser to consummate the transactions under
this Agreement or the Registration Rights Agreement.

“Purchaser Related Parties”
shall have the meaning specified in Section 6.1.

“Registration Rights Agreement”
means the Registration Rights Agreement, substantially in the form attached to this Agreement as Exhibit A, to be entered into
at the Closing, among the Company and the Purchaser.

“Representatives”
of any Person means the officers, managers, directors, employees, agents and other representatives of such Person.

“Securities Act” means
the Securities Act of 1933, as amended from time to time, and the rules and regulations of the Commission promulgated thereunder.

“Share Price” means
$33.14 per share.

“Shares” shall have
the meaning specified in the recitals.

“Short Sales” means,
without limitation, all “short sales” as defined in Rule 200 promulgated under Regulation SHO under the Exchange Act,
whether or not against the box, and forward sale contracts, options, puts, calls, short sales, “put equivalent positions”
(as defined in Rule 16a-1(h) under the Exchange Act) and similar arrangements, and sales and other transactions through non-U.S.
broker dealers or foreign regulated brokers.

“Subsidiary” means
any corporation, limited liability company, other entity or other interest, including any partnership or similar entity, that is
directly or indirectly owned by the Company.

    	
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“Third Dropdown Assets”
shall have the meaning specified in the recitals.

“Transfer Agent” shall
have the meaning specified in Section 2.4(a).

“VAT” shall mean (a)
within the European Union, such taxation as may be levied in accordance with (but subject to derogation from) the Directive of
the Council of the European Union on the common system of value added tax (2006/112/EEC); and (b) outside the European Union, any
other taxation substantially similar to the common system of value added tax referred to in (a) of this definition.

“Walled Off Person”
shall have the meaning specified in Section 4.13.

ARTICLE II

SALE AND PURCHASE

Section 2.1.  Sale and Purchase.

(a) Subject to the terms and conditions
of this Agreement, at the Closing, the Company hereby agrees in accordance with Section 2.4 to issue Shares to CS Depositary Nominee
(as defined in Section 2.4(a)), as nominee for CS Depositary (as defined in Section 2.4(a)), and to procure that the CS Depositary
shall issue Depositary Receipts to the Purchaser representing the number of Purchased Shares to be purchased by each Purchaser,
and the Purchaser hereby agrees to purchase its Purchased Shares, and the Purchaser agrees to pay the Company the Share Price for
each Purchased Share.

    	
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(b) The obligations of the Purchaser
under this Agreement are not joint with the obligations of any Other Purchaser, and the Purchaser shall not be responsible in any
way for the performance of the obligations of any Other Purchaser. Except as otherwise provided herein, the failure or waiver of
performance under this Agreement by the Purchaser does not excuse performance by any Other Purchaser or by the Company with respect
to the Other Purchaser. Nothing contained herein and no action taken by the Purchaser pursuant thereto, shall be deemed to constitute
the Private Placement Purchasers as a partnership, an association, a joint venture or any other kind of entity, or create a presumption
that the Private Placement Purchasers are in any way acting in concert or as a group with respect to such obligations or the transactions
contemplated by this Agreement. Except as otherwise provided in this Agreement or in the Registration Rights Agreement, the Purchaser
shall be entitled to independently protect and enforce its rights, including the rights arising out of this Agreement or out of
the Registration Rights Agreement, and it shall not be necessary for any Other Purchaser to be joined as an additional party in
any proceeding for such purpose. It is expressly understood and agreed that each provision contained in this Agreement is between
the Company and the Purchaser, solely, and not between the Company and Private Placement Purchasers collectively and not between
and among the Purchaser and any of the Other Purchasers.

Section 2.2.  Closing. Subject
to the terms and conditions hereof, the consummation of the purchase and sale of the Shares hereunder (the “Closing”)
shall take place at the offices of Linklaters LLP, 1345 Avenue of the Americas, New York, New York 10105 on May 14, 2015 (the “Closing
Date”).

Section 2.3. Conditions to Closing.

(a) Mutual Conditions. The respective
obligations of each Party to consummate the purchase and issuance and sale of the Purchased Shares shall be subject to the satisfaction
on or prior to the Closing Date of the condition (which condition may be waived by a particular Party on behalf of itself in writing,
in whole or in part, to the extent permitted by applicable Law) that no Law shall have been enacted or promulgated, and no action
shall have been taken, by any Governmental Authority of competent jurisdiction that temporarily, preliminarily or permanently restrains,
precludes, enjoins or otherwise prohibits the consummation of the transactions contemplated by this Agreement or makes the transactions
contemplated by this Agreement illegal.

(b) Purchaser’s Conditions.
The obligation of the Purchaser to consummate the purchase of its Purchased Shares shall be subject to the satisfaction on or prior
to the Closing Date of each of the following conditions (any or all of which may be waived by the Purchaser in writing with respect
to its Purchased Shares, in whole or in part, to the extent permitted by applicable Law):

(i) the Company shall have performed
and complied with the covenants and agreements contained in this Agreement in all material respects that are required to be performed
and complied with by the Company on or prior to the Closing Date;

(ii) the representations and warranties
of the Company contained in this Agreement that are qualified by materiality or Company Material Adverse Effect shall be true and
correct when made and as of the Closing Date and all other representations and warranties of the Company shall be true and correct
in all material respects when made and as of the Closing Date, in each case as though made at and as of the Closing Date (except
that representations and warranties made as of a specific date shall be required to be true and correct as of such date only, it
being expressly understood and agreed that representations and warranties made “as of the date hereof” or “as
of the date of this Agreement” or a similar phrase are made as of May 8, 2015, and will not be required to be true and correct
as of the Closing Date);

(iii) the Company shall have submitted
to NASDAQ a Supplemental Listing Application with respect to the Purchased Shares, and no notice of delisting from NASDAQ shall
have been received by the Company with respect to the Shares; and

(iv) the Company shall have delivered,
or caused to be delivered, to the Purchaser at the Closing the Company’s closing deliveries described in Section 2.4 of this
Agreement.

(c) Company’s Conditions.
The obligation of the Company to consummate the issuance and sale of the Purchased Shares to the Purchaser shall be subject to
the satisfaction on or prior to the Closing Date of the following conditions with respect to the Purchaser (any or all of which
may be waived by the Company in writing, in whole or in part, to the extent permitted by applicable Law):

(i) the Purchaser shall have performed
and complied with the covenants and agreements contained in this Agreement in all material respects that are required to be performed
and complied with by the Purchaser on or prior to the Closing Date;

(ii) the representations and warranties
of the Purchaser contained in this Agreement that are qualified by materiality or Purchaser Material Adverse Effect shall be true
and correct when made and as of the Closing Date and all other representations and warranties of the Purchaser shall be true and
correct in all material respects when made and as of the Closing Date, in each case as though made at and as of the Closing Date
(except that representations and warranties made as of a specific date shall be required to be true and correct as of such date
only it being expressly understood and agreed that representations and warranties made “as of the date hereof” or “as
of the date of this Agreement” or a similar phrase are made as of May 8, 2015, and will not be required to be true and correct
as of the Closing Date); and

    	
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(iii) the Purchaser shall have
delivered, or caused to be delivered, to the Company at the Closing the Purchaser’s closing deliveries described in Section
2.5 of this Agreement.

Section 2.4. Company Deliveries.
At the Closing, subject to the terms and conditions of this Agreement, the Company will deliver, or cause to be delivered, to the
Purchaser:

(a) evidence acknowledging that the Purchased
Shares (in respect of which the Depositary Receipts will be issued to the Purchaser in accordance with this Agreement), have been
issued to Computershare DR Nominees Limited (the “CS Depositary Nominee”), as nominee for Computershare Trustees
(Jersey) Limited (“CS Depositary”) and for which CS Depositary Nominee is the registered holder as recorded
on the books and records of the Company maintained by Computershare Trust Company, N.A. (the “Transfer Agent”);

(b) definitive depositary receipts (the
“Depositary Receipts”) issued by CS Depositary to the Purchaser and recorded on the books and records maintained
by CS Depositary, bearing the legend or restrictive notation set forth in Section 4.11, all free and clear of any Liens, encumbrances
or interests of any other party, other than applicable federal and state securities laws;

(c) the Registration Rights Agreement
in substantially the form attached to this Agreement as Exhibit A, which shall have been duly executed by the Company;

(d) opinions addressed to the Purchaser
from Linklaters LLP as outside legal counsel to the Company dated the Closing Date, substantially similar in substance to the forms
of opinion attached to this Agreement as Exhibit B;

(e) the Officer’s Certificate substantially
in the form attached to this Agreement as Exhibit C;

(f) a certificate of the Secretary or
Assistant Secretary of the Company, on behalf of the Company, certifying as to (i) the articles of association of the Company,
(ii) resolutions of the Board of directors authorizing the execution and delivery of the Operative Documents and the consummation
of the transactions contemplated thereby, including the issuance of the Purchased Shares and (iii) its incumbent officers authorized
to execute the Operative Documents, setting forth the name and title and bearing the signatures of such officers; and

(g) a cross-receipt, dated the Closing
Date, executed by the Company and delivered to the Purchaser to the effect that the Company has received the Commitment Amount
with respect to the Purchased Shares issued and sold to the Purchaser.

Section 2.5. Purchaser Deliveries.
At the Closing, subject to the terms and conditions of this Agreement, the Purchaser will deliver, or cause to be delivered, to
the Company against delivery of its Purchased Shares:

(a) receipt by the Company, in an account
designated by the Company in writing, the form of which is attached to this Agreement as Exhibit E, of the Commitment Amount set
forth opposite the Purchaser’s name under the column titled “Commitment Amount” on Schedule A hereto by wire
transfer of immediately available funds by 10:00 AM London time on the Closing Date;

(b) the Registration Rights Agreement
in substantially the form attached to this Agreement as Exhibit A, which shall have been duly executed by the Purchaser; and

(c) an Officer’s Certificate substantially
in the form attached to this Agreement as Exhibit D.

    	
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Section 2.6. Cancellation of Depositary
Receipts and Transfer of Shares to DTC. Subject to and in accordance with the terms of the Registration Rights Agreement, the
Company agrees to (i) procure that CS Depositary, after the effectiveness of the registration statement contemplated by the Registration
Rights Agreement and the registration of the Purchaser’s Shares underlying the Depositary Receipts for resale as contemplated
by the Registration Rights Agreement, cancels the Depositary Receipts upon surrender by the Purchaser for such cancellation, and
transfers the Shares underlying such cancelled Depositary Receipts to Cede & Co. (as nominee for DTC) and (ii) procure that
the participants account in DTC is credited on behalf of the Purchaser in respect of such Shares.

ARTICLE III

REPRESENTATIONS AND WARRANTIES OF THE COMPANY

The Company represents and warrants to
the Purchaser that:

Section 3.1. Existence. The Company
has been duly incorporated and is validly existing as a public limited company and in good standing under the laws of England and
Wales with full corporate power and authority to own or lease, as the case may be, and to operate its properties and conduct its
business as described in the Company SEC Documents. The Company is duly qualified to do business as a foreign corporation and is
in good standing under the laws of each jurisdiction which requires such qualification, except where the failure to be so qualified
would not have a Company Material Adverse Effect.

Section 3.2. Authority. As of
the date hereof, the Company has all requisite power and authority to execute and deliver this Agreement and perform its respective
obligations hereunder and to issue, sell and deliver the Purchased Shares, in accordance with and upon the terms and conditions
set forth in this Agreement and its articles of association. On the Closing Date, all corporate action required to be taken by
the Company and the Board of Directors for (a) the authorization, issuance, sale and delivery of the Purchased Shares, (b) the
execution and delivery of the Operative Documents by the Company and (c) the consummation of the transactions contemplated by this
Agreement and the other Operative Documents shall have been validly taken.

Section 3.3.  Subsidiaries. Each
Subsidiary has been duly incorporated and is validly existing as a corporation, limited liability company or other entity in good
standing under the laws of the jurisdiction in which it is chartered or organized with full corporate or other power and authority
to own or lease, as the case may be, and to operate its properties and conduct its business as described in the Company SEC Documents
and is duly qualified to do business as a foreign corporation and is in good standing under the laws of each jurisdiction which
requires such qualification, except where the failure to be so qualified or to be in good standing would not have a Company Material
Adverse Effect. All the outstanding shares of capital stock or other ownership interests of each Subsidiary have been duly and
validly authorized and issued and are fully paid and non-assessable (except in the case of an interest in an Delaware limited liability
company, as such non-assessability may be affected by Sections 18-607 and 18-804 of the Delaware Limited Liability Company Act
(the “Delaware LLC Act”), and all outstanding shares of capital stock or other ownership interests of the subsidiaries
of the Company are owned by the Company either directly or through wholly owned subsidiaries free and clear of any security interest,
mortgage, pledge, lien, charge, claim, equity or encumbrance of any kind (collectively, “Liens”) other than
(i) those described in the Company SEC Documents, (ii) Liens arising from or relating to project financing agreements or (iii)
as do not materially affect the value of such property or interfere with the use made and proposed to be made of such property
by the Company and its subsidiaries as described in the Company SEC Documents.

    	
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Section 3.4. Capitalization. As
of the date hereof, (i) the issued and outstanding share capital of the Company consists of 80,000,000 Shares, (ii) the issued
and outstanding share capital of the Company has been duly and validly authorized, and has been issued and fully paid and is not
subject to any call for the payment of further capital; (iii) none of the issued and outstanding share capital of the Company was
issued in violation of any pre-emptive or other similar rights of any security holder of the Company; and (iv) there are no outstanding
securities convertible into or exchangeable for, or warrants, rights or options, or agreements to grant warrants, rights (including,
without limitation, pre-emption rights) or options, to purchase or to subscribe for, or obligations or commitments of the Company
to create, issue, sell or otherwise dispose of, any securities (or any such convertible or exchangeable securities, warrants, rights,
options, obligations or commitments) of the Company.

Section 3.5. No Pre-emptive Rights
or Registration Rights.

(a) There are no pre-emptive rights or
other rights to subscribe for or to purchase, nor any restriction upon the voting or transfer of, any Shares of the Company or
any its Subsidiaries, in each case pursuant to any other agreement or instrument to which any of such Persons is a party or by
which any one of them may be bound, except (a) as set forth in the articles of association of the Company and which have been waived
or in the partnership agreement, limited liability company agreement, certificate of limited partnership, certificate of formation,
conversion or other constituent document, as applicable, of the Subsidiaries.

(b) Neither the execution of this Agreement,
nor the issuance of the Purchased Shares as contemplated by this Agreement, gives rise to any rights for or relating to the registration
of any securities of the Company, other than pursuant to the Registration Rights Agreement and the Abengoa Registration Rights
Agreement. There are no other rights for or relating to the registration of any securities of the Company outstanding, other than
the registration rights granted pursuant to the Registration Rights Agreement and the Abengoa Registration Rights Agreement.

Section 3.6. Valid Issuance. (i)
The Purchased Shares have been, or prior to the Closing Date, will be, duly and validly authorized, and when issued and delivered
to the Purchaser against payment therefore in accordance with the terms of this Agreement, will be validly issued and fully paid
and will not be subject to any call for the payment of further capital and (ii) the Purchased Shares will, when sold, be free and
clear of any Liens.

Section 3.7. Due Authorization.
On the Closing Date, each of the Operative Documents will have been duly authorized, executed and delivered by the Company and,
assuming due authorization by the Purchaser, will be a valid and binding obligation of the Company enforceable against the Company
in accordance with its terms, except, with respect to each Operative Document, the enforceability thereof may be limited by (i)
applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or similar laws from time to time in effect
affecting creditors’ rights and remedies generally and (ii) general principles of equity (regardless of whether such principles
are considered in a proceeding in equity or at law); provided, further, that the indemnity, contribution and exoneration provisions
contained in any of such agreements may be limited by applicable Laws and public policy.

Section 3.8. No Consents. Except
as contemplated by this Agreement or required by the Commission in connection with the Company’s obligations under the Registration
Rights Agreement, authorization, consent, approval, waiver, license, qualification or written exemption from, nor any filing, declaration,
qualification or registration with, any Governmental Authority in connection with the execution, delivery or performance by the
Company of any of the Operative Documents is required, except (a) as may be required under the state securities or “Blue
Sky” Laws, (b) for such consents, approvals and waivers as have been obtained or will be obtained by Closing or (c) where
the failure to receive such authorization, consent, approval, waiver, license, qualification or written exemption from, or to make
such filing, declaration, qualification or registration would not, individually or in the aggregate, reasonably be expected to
have a Company Material Adverse Effect.

    	
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Section 3.9. Company SEC Documents;
Marketing Materials. The Company has filed timely with the Commission all forms, registration statements, reports, schedules
and statements required to be filed by it under the Exchange Act or the Securities Act (all such documents filed or furnished on
or prior to the date of this Agreement, collectively, the “Company SEC Documents”). The Company SEC Documents,
including, without limitation, any audited or unaudited financial statements and any notes thereto or schedules included therein
(the “Company Financial Statements”), at the time filed (in the case of registration statements, solely on the
dates of effectiveness) (except to the extent corrected by a subsequently filed Company SEC Document filed prior to the date hereof)
or furnished (a) did not contain any untrue statement of a material fact or omit to state a material fact required to be stated
therein or necessary in order to make the statements therein (in the case of any prospectus, in light of the circumstances under
which they were made) not misleading, (ii) complied as to form in all material respects with the applicable requirements of the
Exchange Act and the Securities Act, as applicable, and (b) in the case of the Company Financial Statements, (i) complied as to
form in all material respects with applicable accounting requirements under the Exchange Act or the Securities Act, as applicable,
(ii) were prepared in accordance with IFRS as issued by the IASB applied on a consistent basis during the periods involved (except
as may be indicated in the notes thereto or, in the case of unaudited financial statements) and (iii) fairly present (subject in
the case of unaudited financial statements to normal, recurring and year-end audit adjustments) in all material respects the financial
position, results of its operations and cash flows of the entities purported to be shown thereby at the respective dates or for
the periods indicated. As of the date hereof, the Marketing Materials do not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary in order to make the statements therein not misleading.

Section 3.10. Listing. The Shares
are listed on the NASDAQ Global Select Market under the symbol “ABY.”

Section 3.11. No Material Adverse
Effect. As of the date hereof, since March 31, 2015, there has been no Company Material Adverse Effect.

Section 3.12. Litigation. As of
the date hereof, except as set forth in the Company SEC Documents, no action, suit or proceeding by or before any Governmental
Authority involving the Company or any of its Subsidiaries, or its or their property is pending or, to the knowledge of the Company,
threatened that would reasonably be expected to have a Company Material Adverse Effect.

Section 3.13. No Default As of
the date hereof, neither the Company nor any Subsidiary is in violation or default of (i) any provision of its articles of association,
charter or by-laws; (ii) the terms of any concession agreement, indenture, contract, lease, mortgage, deed of trust, note agreement,
loan agreement or other agreement, obligation, condition, covenant or instrument to which it is a party or bound or to which its
property is subject or (iii) statute, law, rule, regulation, judgment, order or decree of any Governmental Authority, except, in
the case of (ii) and (iii), for such violations or defaults that would not, individually or in the aggregate, reasonably be expected
to have a Company Material Adverse Effect.

Section 3.14. No Conflicts. None
of (a) the offering, issuance or sale by the Company of the Purchased Shares and the application of the proceeds therefrom, (b)
the execution, delivery and performance of this Agreement and the other Operative Documents by the Company or (c) the consummation
of the transactions contemplated by this Agreement and the other Operative Documents (i) conflicts or will conflict with, or constitutes
or will constitute a violation of the articles of association of the Company, (ii) conflicts or will conflict with, or constitutes
or will constitute a breach or violation of, or a default under (or an event that, with notice or lapse of time or both would constitute
such a default), the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement, loan agreement or other
agreement, obligation, condition, covenant or instrument to which the Company or any of its Subsidiaries is a party or bound or
to which any of its properties is subject, (iii) assuming the accuracy of the representations and warranties of the Purchaser contained
herein and its compliance with the covenants contained herein, violates or will violate any statute, law, rule, regulation, judgment,
order, decree or injunction of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority
having jurisdiction over the Company or any of its Subsidiaries or any of their properties in a proceeding to which the Company
or any of its Subsidiaries or their property is a party or (iv) results or will result in the creation or imposition of any Lien
upon any property or assets of the Company or any of its Subsidiaries which conflicts, breaches, violations, defaults or Liens,
in the case of clauses (ii), (iii) or (iv), would, individually or in the aggregate, reasonably be expected to have a Company Material
Adverse Effect.

    	
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Section 3.15. Asset Transfer Agreement
and Third Dropdown Assets.

(a) The Asset Transfer Agreement has
been duly authorized (pursuant to applicable law and the Company’s related party transaction policy), executed and delivered
by the Company and, to the Company’s knowledge, by Abengoa and is a valid and binding obligation of the Company, and to the
Company’s knowledge, of Abengoa, enforceable against each such party in accordance with its terms, except as, the enforceability
against such party may be limited by (i) applicable bankruptcy, insolvency, fraudulent transfer, reorganization, moratorium or
similar laws from time to time in effect affecting creditors’ rights and remedies generally, and (ii) general principles
of equity (regardless of whether such principles are considered in a proceeding in equity or at law). The acquisition of Third
Dropdown Assets is subject to entering into definitive documentation with Abengoa and obtaining certain waivers and consents in
a timely manner.

(b) Following the consummation of the
acquisition of the Third Dropdown Assets on the terms contained in the Asset Transfer Agreement, the Company will, directly or
indirectly, own the Third Dropdown Assets in the manner set forth in the Asset Transfer Agreement, all of the issued shares of
share capital or other ownership interests of each Third Dropdown Asset will have been duly authorized and validly issued in accordance
with the organizational documents of each such entity, and will be fully paid (to the extent required under such organizational
documents) and non-assessable, and the Company will own, directly or indirectly, such interests free and clear of all Liens other
than (i) those described in the Asset Transfer Agreement, (ii) Liens arising from or relating to project financing agreements or
(iii) as do not materially affect the value of such property or interfere with the use made and proposed to be made of such property
by the Company and its Subsidiaries.

Section 3.16. Independent Public Accountants.
Deloitte, S.L. and Deloitte LLP, who have certified certain financial statements of the Company, are independent public accountants
with respect to the Company within the meaning of the Act and the applicable published rules and regulations thereunder and the
rules and regulations of the U.S. Public Company Accounting Oversight Board.

Section 3.17. Insurance. As of
the date hereof, the Company and each of its Subsidiaries are insured by insurers of recognized standing against such losses and
risks and in such amounts as are customary in the businesses in which they are engaged; all policies of insurance insuring the
Company or any of its Subsidiaries or their respective businesses, assets, employees, officers and directors are in full force
and effect; the Company and its Subsidiaries are in compliance with the terms of such policies and instruments in all material
respects; and there are no material claims by the Company or any of its Subsidiaries under any such policy or instrument as to
which any insurance company has in writing denied liability or defending under a reservation of rights clause; neither the Company
nor any such Subsidiary has been refused any insurance coverage sought or applied for; and neither the Company nor any such Subsidiary
has any reason to believe that it will not be able to renew its existing insurance coverage as and when such coverage expires or
to obtain similar coverage from similar insurers as may be necessary to continue its business at a cost that would not reasonably
be expected to have a Company Material Adverse Effect.

    	
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Section 3.18. Licenses. As of
the date hereof, the Company and its Subsidiaries possess all material licenses, certificates, permits and other authorizations
issued by all applicable authorities necessary to conduct their respective businesses except where the failure to so possess any
such license, certificate, permit or other authorization would not, individually or in the aggregate, reasonably be expected to
have a Company Material Adverse Effect, and neither the Company nor any such Subsidiary has received any written notice of proceedings
relating to the revocation or modification of any such license, certificate, authorization or permit which, if the subject of an
unfavorable decision, ruling or finding, would reasonably be expected to have a Company Material Adverse Effect.

Section 3.19. Internal Accounting
Controls. As of the date hereof, the Company and each of its Subsidiaries maintain a system of internal accounting controls
sufficient to provide reasonable assurance that (i) transactions are executed in accordance with management’s general or
specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity
with IFRS as issued by the IASB and to maintain asset accountability; (iii) access to assets is permitted only in accordance with
management’s general or specific authorization; and (iv) the recorded accountability for assets is compared with the existing
assets at reasonable intervals and appropriate action is taken with respect to any differences. As of the date hereof, the Company
and its Subsidiaries’ maintain a system of “internal control over financial reporting” (as defined in Rule 13a-15(f)
under the Exchange Act) that complies with the requirements of the Exchange Act and have been designed by, or under the supervision
of, management, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial
statements for external purposes in accordance with IFRS as issued by the IASB. The Company and its Subsidiaries’ internal
controls over financial reporting are effective and the Company and its Subsidiaries are not aware of any material weakness in
their internal controls over financial reporting.

Section 3.20. Investment Company Status.
The Company is not and, after giving effect to the offering and sale of the Purchased Shares and the application of the proceeds
thereof as described in Section 5.3 of this Agreement, will not be an “investment company” as defined in the Investment
Company Act of 1940, as amended.

Section 3.21. No Registration Required.
Assuming the accuracy of the representations and warranties of the Purchaser contained in this Agreement, the sale and issuance
of the Purchased Shares pursuant to this Agreement are exempt from the registration requirements of the Securities Act, and neither
the Company nor any authorized Representative acting on its behalf has taken or will take any action hereafter that would cause
the loss of such exemption.

Section 3.22. No Integration.
Neither the Company nor its Subsidiaries has sold or issued any securities that would be integrated with the sale of the Purchased
Shares in a manner that would require registration under the Securities Act.

Section 3.23. Certain Fees. Except
for the Placement Agent Fees, no fees or commissions are or will be payable by the Company to brokers, finders or investment bankers
with respect to the sale of any of the Purchased Shares or the consummation of the transactions contemplated by this Agreement.

    	
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Section 3.24. No Side Agreements.
Except for the confidentiality agreements, this Agreement and the Registration Rights Agreement, there are no other agreements
by, among or between the Company or any of its Affiliates, on the one hand, and any of the Private Placement Purchasers or any
of their Affiliates, on the other hand, with respect to the transactions contemplated hereby nor promises or inducements for future
transactions between or among any of such parties.

Section 3.25. PFIC. The Company
does not believe that it was a passive foreign investment company within the meaning of Section 1297 of the United States Internal
Revenue Code of 1986, as amended (“PFIC”) for its prior taxable year and does not expect to be a PFIC for its
current taxable year or in the foreseeable future.

Section 3.26. Form F-3 Eligibility.
On July 1, 2015, the Company expects to satisfy all of the requirements of the Securities Act for the use of Form F-3 to register
the resale of the Purchased Shares by the Purchaser from time to time under the Securities Act in accordance with the Registration
Rights Agreement.

ARTICLE IV

REPRESENTATIONS AND WARRANTIES OF THE PURCHASER

The Purchaser, severally and not jointly,
represents and warrants to the Company with respect to itself as follows:

Section 4.1. Existence. The Purchaser
is duly organized, validly existing and in good standing under the Laws of its jurisdiction of organization with full power and
authority to own or lease and to operate its Properties owned or leased and to conduct the business in which it is engaged.

Section 4.2.  Authority. The Purchaser
has all requisite power and authority to execute and deliver this Agreement and perform its obligations hereunder. On the Closing
Date, all partnership, limited liability company and corporate action required to be taken, as the case may be, by the Purchaser
or any of its partners, members or shareholders for (a) the execution and delivery of each of the Operative Documents and (b) the
consummation of the transactions contemplated by this Agreement and the other Operative Documents shall have been validly taken.

Section 4.3.  Due Authorization.
On the Closing Date, each of the Operative Documents will have been duly authorized, executed and delivered by the Purchaser, and,
assuming due authorization of the Company, will be a valid and legally binding agreement of the Purchaser, enforceable against
the Purchaser in accordance with its terms; provided, that the enforceability thereof may be limited by bankruptcy, insolvency,
fraudulent transfer, reorganization, moratorium and similar Laws relating to or affecting creditors’ rights generally and
by general principles of equity (regardless of whether such enforceability is considered in a proceeding in equity or at law);
provided, further, that the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited
by applicable Laws and public policy.

Section 4.4. No Conflicts. None
of (a) the execution, delivery and performance of this Agreement and the other Operative Documents by the Purchaser or (b) the
consummation of the transactions contemplated by this Agreement and the other Operative Documents (i) conflicts or will conflict
with, or constitutes or will constitute a violation of the Organizational Documents of the Purchaser, (ii) conflicts or will conflict
with, or constitutes or will constitute a breach or violation of, or a default under (or an event that, with notice or lapse of
time or both would constitute such a default), the terms of any indenture, contract, lease, mortgage, deed of trust, note agreement,
loan agreement or other agreement, obligation, condition, covenant or instrument to which the Purchaser is a party or bound or
to which any of its properties is subject, (iii) violates or will violate any statute, law, rule, regulation, judgment, order,
decree or injunction of any court, regulatory body, administrative agency, governmental body, arbitrator or other authority having
jurisdiction over the Purchaser or any of its properties in a proceeding to which the Purchaser or its property is a party or (iv)
results or will result in the creation or imposition of any Lien upon any property or assets of the Purchaser which conflicts,
breaches, violations, defaults or Liens, in the case of clauses (ii), (iii) or (iv), would reasonably be expected to have a Purchaser
Material Adverse Effect.

    	
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Section 4.5. Certain Fees. No
fees or commissions are or will be payable by the Purchaser to brokers, finders or investment bankers with respect to the purchase
or sale of any of its Purchased Shares or the consummation of the transactions contemplated by this Agreement.

Section 4.6.  No Side Agreements.
Except for the confidentiality agreements, this Agreement and the Registration Rights Agreement entered into by and between the
Purchaser and the Company, there are no other agreements by, among or between the Company or its Affiliates, on the one hand, and
the Purchaser or its Affiliates, on the other hand, with respect to the transactions contemplated hereby, nor promises or inducements
for future transactions between or among any of such parties.

Section 4.7. Investment. The Purchased
Shares are being acquired for the Purchaser’s own account, the account of its Affiliates or the accounts of clients for whom
the Purchaser exercises discretionary investment authority (all of whom the Purchaser hereby represents and warrants are “qualified
institutional buyers” within the meaning of Rule 144A promulgated by the Securities and Exchange Commission pursuant to the
Securities Act or “accredited investors” within the meaning of Rule 501(a) of Regulation D promulgated by the Commission
pursuant to the Securities Act), not as a nominee or agent, and with no present intention of distributing the Purchased Shares
or any part thereof, and the Purchaser has no present intention of selling or granting any participation in or otherwise distributing
the same in any transaction in violation of the securities Laws of the United States of America or any state, without prejudice,
however, to the Purchaser’s right at all times to sell or otherwise dispose of all or any part of the Purchased Shares under
a registration statement under the Securities Act and applicable state securities Laws or under an exemption from such registration
available thereunder (including, without limitation, if available, Rule 144 promulgated thereunder). If the Purchaser should in
the future decide to dispose of any of the Purchased Shares, the Purchaser understands and agrees (a) that it may do so only (i)
in compliance with the Securities Act and applicable state securities Law, as then in effect, or pursuant to an exemption therefrom
or (ii) in the manner contemplated by any registration statement pursuant to which such securities are being offered, and (b) that
stop-transfer instructions to that effect will be in effect with respect to such securities.

Section 4.8.  Nature of Purchaser.
The Purchaser represents and warrants to, and covenants and agrees with, the Company that (a) it is a “qualified institutional
buyer” within the meaning of Rule 144A promulgated by the Securities and Exchange Commission pursuant to the Securities Act
or an “accredited investor” within the meaning of Rule 501 of Regulation D promulgated by the Commission pursuant to
the Securities Act and (b) by reason of its business and financial experience it has such knowledge, sophistication and experience
in making similar investments and in business and financial matters generally so as to be capable of evaluating the merits and
risks of the prospective investment in the Purchased Shares, is able to bear the economic risk of such investment and, at the present
time, would be able to afford a complete loss of such investment.

Section 4.9. Receipt of Information.
The Purchaser acknowledges that it has (a) had access to the Company SEC Documents, (b) had access to information regarding the
acquisition of the Third Dropdown Assets and its potential effect on the Company’s operations and financial results and (c)
been provided a reasonable opportunity to ask questions of and receive answers from Representatives of the Company regarding such
matters including matters with respect to the acquisition of the Third Dropdown Assets.

    	
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Section 4.10. Restricted Securities.
The Purchaser understands that the Purchased Shares it is purchasing are characterized as “restricted securities” under
the federal securities Laws inasmuch as they are being acquired from the Company in a transaction not involving a public offering
and that under such Laws and applicable regulations such securities may be resold without registration under the Securities Act
only in certain limited circumstances. In this connection, the Purchaser represents that it is knowledgeable with respect to Rule
144 of the Commission promulgated under the Securities Act.

Section 4.11.  Legend. The Purchaser
understands that the book-entry account maintained by the Transfer Agent evidencing ownership of the Purchased Shares will bear
the following legend or restrictive notation: “These securities have not been registered under the Securities Act of 1933,
as amended (the “Securities Act”). These securities may not be sold, offered for sale, pledged or hypothecated
in the absence of a registration statement in effect with respect to the securities under the Securities Act or pursuant to an
exemption from registration thereunder, in each case in accordance with all applicable securities laws of the states or other jurisdictions,
and, in the case of a transaction exempt from registration, such securities may only be transferred if the transfer agent for such
securities has received documentation satisfactory to it that such transaction does not require registration under the Securities
Act.”

Section 4.12. Reliance on Exemptions.
The Purchaser understands that the Purchased Shares are being offered and sold to the Purchaser in reliance upon specific exemptions
from the registration requirements of the United States federal and state securities laws and that the Company is relying upon
the truth and accuracy of, and the Purchaser’s compliance with, the representations, warranties, agreements, acknowledgements
and understandings of the Purchaser set forth herein in order to determine the availability of such exemptions and the eligibility
of the Purchaser to acquire the Purchased Shares.

Section 4.13. Short Selling. The
Purchaser represents that it has not entered into any Short Sales of the Shares owned by it since the time it first began discussions
with the Company or the Placement Agent about the transactions contemplated by this Agreement; provided, however, subject to the
Purchaser’s compliance with its obligations under the U.S. federal securities laws and its internal policies, the above shall
not apply, in the case the Purchaser is a large multi-unit investment or commercial banking organization, to activities in the
normal course of trading shares of the Purchaser; provided, further, that subject to the Purchaser’s compliance with its
obligations under the U.S. federal securities laws and its internal policies: (a) the Purchaser, for purposes hereof, shall not
be deemed to include any employees, subsidiaries or Affiliates that are effectively walled off by appropriate “Chinese Wall”
information barriers approved by the Purchaser’s legal or compliance department (and thus have not been privy to any information
concerning this transaction) (a “Walled Off Person”) and (b) the foregoing representations in this paragraph
shall not apply to any transaction by or on behalf of the Purchaser that was effected by a Walled Off Person in the ordinary course
of trading without the advice or participation of the Purchaser or receipt of confidential or other information regarding this
transaction provided by the Purchaser to such entity.

Section 4.14. Trading Activities.
The Purchaser’s trading activities, if any, with respect to the Company’s Shares will be in compliance with all applicable
U.S. state and federal securities laws, rules and regulations and regulations of NASDAQ.

    	
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ARTICLE V

COVENANTS

Section 5.1.  Taking of Necessary
Action. Each of the Parties hereto shall use its commercially reasonable efforts promptly to take or cause to be taken all
action and promptly to do or cause to be done all things necessary, proper or advisable under applicable Law and regulations to
consummate and make effective the transactions between the Company and the Purchaser contemplated by this Agreement related specifically
to the acquisition of the Purchased Shares; provided, that nothing contained herein shall require the Company to consummate the
transactions contemplated by the Asset Transfer Agreement. Without limiting the foregoing, the Company and the Purchaser shall
use its commercially reasonable efforts to make all filings and obtain all consents of Governmental Authorities that may be necessary
or, in the reasonable opinion of the Purchaser or the Company, as the case may be, advisable for the consummation of the transactions
contemplated by this Agreement and the other Operative Documents.

Section 5.2.  Disclosure; Interim
Public Filings. The Company shall, as soon as practicable following execution of this Agreement, issue a press release disclosing
all material terms of the transactions contemplated herein and in the other Operative Documents. Promptly following the date hereof,
the Company shall file a report on Form 6-K with the Commission (the “Form 6-K Filing”) describing the terms
of the transactions contemplated by the Operative Documents and the Asset Transfer Agreement, in the form required by the Exchange
Act.

Section 5.3. Use of Proceeds.
The Company shall use the collective proceeds from the sale of the Purchased Shares to finance the acquisition of the Third Dropdown
Assets.

Section 5.4. Payments.

(a) All sums payable by the Company under
this Agreement shall be paid without set-off or counterclaim, and free and clear of and without deduction or withholding for or
on account of any present or future taxes, levies, imposts, duties, fees, assessments or other charges of whatever nature and all
interest, penalties or similar liabilities with respect thereto, unless such deduction or withholding is required by law. If the
Company is required by law to deduct or withhold for or on account of tax from a payment made under this Agreement, the Company
shall pay such additional amounts as may be necessary so that the net amount received by the recipient of the payment is equal
to the amount the recipient would have received if such deduction or withholding had not been so required.

(b) If the recipient of a payment made
under this Agreement determines that it has received a credit for or refund of any tax payable by it by reason of any deduction
or withholding for or on account of tax in respect of which an additional amount has been paid pursuant to Section 5.4(a) above,
then it shall reimburse to the other party such part of such additional amounts as the recipient of the payment determines will
leave it (after such reimbursement) in no better and no worse position than it would have been if the other party had not been
required to make such deduction or withholding. Nothing in Section 5.4(a) or (b) shall oblige a recipient to disclose to any person
its tax affairs or any information it reasonably considers confidential, or shall interfere with the right of the recipient to
arrange its tax affairs in whatever manner it thinks fit, or shall require any recipient to take any action to determine whether
any tax credit or refund has been obtained.

(c) Where the Company is obliged to pay
any fee, commission or other sum to the Purchaser or other indemnified party pursuant to this Agreement or in connection with the
offer of the Purchased Shares, and any amount in respect of VAT is properly charged on it, the Company shall also pay to the recipient
an amount equal to the VAT payable on receipt of a valid VAT invoice.

    	
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(d) Where, pursuant to this Agreement,
a sum is paid or reimbursed to the Purchaser (for the purposes of this Section 5.4(d) only, each a payee), the Company shall also
pay to such payee in respect of VAT:

(i) to the extent the sum represents
a reimbursement of a cost, charge or expense (except where ‎(ii) below applies), such amount as equals any VAT
charged to the payee (including where an amount in respect of VAT arises under a reverse charge mechanism) in respect of that cost,
charge or expense and which the payee states is not recoverable by it by repayment or credit, that statement to be conclusive save
in the case of manifest error; and

(ii) where any payment or reimbursement
is in respect of or indemnification for costs, charges or expenses incurred by the payee as agent for the Company and except where
section 47(2A) or section 47(3) of the UK Value Added Tax Act 1994 (or equivalent provisions in any other jurisdiction) applies,
such amount as equals the amount included in the costs, charges and expenses in respect of VAT, provided that in such a case the
payee will use reasonable endeavors to procure that the actual supplier of the goods and services which the payee received as agent
issues its own VAT invoice directly to the Company.

ARTICLE VI

INDEMNIFICATION, COSTS AND EXPENSES

Section 6.1. Indemnification by the
Company. The Company agrees to indemnify the Purchaser and its Representatives (collectively, “Purchaser Related Parties”)
from, and hold each of them harmless against, any and all actions, suits, proceedings (including any investigations, litigation
or inquiries), demands and causes of action, and, in connection therewith, and promptly upon demand, pay or reimburse each of them
for all reasonable costs, losses, liabilities, damages or expenses of any kind or nature whatsoever, including, without limitation,
the reasonable fees and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending
or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them as a result of,
arising out of or in any way related to the breach of any of the representations, warranties or covenants of the Company contained
herein; provided that such claim for indemnification relating to a breach of a representation or warranty is made prior to the
expiration of such representation or warranty; and provided further, that no Purchaser Related Party shall be entitled to recover
special, consequential (including lost profits) or punitive damages. Notwithstanding anything to the contrary, consequential damages
shall not be deemed to include diminution in value of the Purchased Shares, which is specifically included in damages covered by
Purchaser Related Parties indemnification.

Section 6.2. Indemnification by Purchaser.
The Purchaser agrees to indemnify the Company and its respective Representatives (collectively, the “Company Related Parties”)
from, and hold each of them harmless against, any and all actions, suits, proceedings (including any investigations, litigation
or inquiries), demands and causes of action, and, in connection therewith, and promptly upon demand, pay or reimburse each of them
for all reasonable costs, losses, liabilities, damages or expenses of any kind or nature whatsoever, including, without limitation,
the reasonable fees and disbursements of counsel and all other reasonable expenses incurred in connection with investigating, defending
or preparing to defend any such matter that may be incurred by them or asserted against or involve any of them as a result of,
arising out of or in any way related to the breach of any of the representations, warranties or covenants of the Purchaser contained
herein; provided that such claim for indemnification relating to a breach of any representation or warranty is made prior to the
expiration of such representation or warranty; and provided further, that no Company Related Party shall be entitled to recover
special, consequential (including lost profits) or punitive damages; provided further, (a) that absent fraud, bad faith, gross
negligence or willful misconduct on the part of the Purchaser and (b) other than with respect to any breach of the representations
and warranties of Sections 4.7 and 4.8, in no event will the Purchaser be liable under this Section 6.2 for any amount in excess
of its Commitment Amount.

    	
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Section 6.3. Indemnification Procedure.
Promptly after any Company Related Party or Purchaser Related Party, as the case may be (hereinafter, the “Indemnified
Party”), has received notice of any indemnifiable claim hereunder, or the commencement of any action, suit or proceeding
by a third person that the Indemnified Party believes in good faith is an indemnifiable claim under this Agreement, the Indemnified
Party shall give the indemnitor hereunder (the “Indemnifying Party”) written notice of such claim or the commencement
of such action, suit or proceeding, but failure to so notify the Indemnifying Party will not relieve the Indemnifying Party from
any liability it may have to such Indemnified Party hereunder except to the extent that the Indemnifying Party is materially prejudiced
by such failure. Such notice shall state the nature and the basis of such claim to the extent then known. The Indemnifying Party
shall have the right to defend and settle, at its own expense and by its own counsel who shall be reasonably acceptable to the
Indemnified Party, any such matter as long as the Indemnifying Party pursues the same diligently and in good faith. If the Indemnifying
Party undertakes to defend or settle, it shall promptly notify the Indemnified Party of its intention to do so, and the Indemnified
Party shall cooperate with the Indemnifying Party and its counsel in all commercially reasonable respects in the defense thereof
and the settlement thereof. Such cooperation shall include, but shall not be limited to, furnishing the Indemnifying Party with
any books, records and other information reasonably requested by the Indemnifying Party and in the Indemnified Party’s possession
or control. Such cooperation of the Indemnified Party shall be at the cost of the Indemnifying Party. After the Indemnifying Party
has notified the Indemnified Party of its intention to undertake to defend or settle any such asserted liability, and for so long
as the Indemnifying Party diligently pursues such defense, the Indemnifying Party shall not be liable for any additional legal
expenses incurred by the Indemnified Party in connection with any defense or settlement of such asserted liability; provided, however,
that the Indemnified Party shall be entitled (i) at its expense, to participate in the defense of such asserted liability and the
negotiations of the settlement thereof and (ii) if (A) the Indemnifying Party has failed to assume the defense or employ counsel
reasonably acceptable to the Indemnified Party or (B) if the defendants in any such action include both the Indemnified Party and
the Indemnifying Party and counsel to the Indemnified Party shall have concluded that there may be reasonable defenses available
to the Indemnified Party that are different from or in addition to those available to the Indemnifying Party or if the interests
of the Indemnified Party reasonably may be deemed to conflict with the interests of the Indemnifying Party, then the Indemnified
Party shall have the right to select one separate counsel and to assume such legal defense and otherwise to participate in the
defense of such action, with the expenses and fees of such separate counsel and other expenses related to such participation to
be reimbursed by the Indemnifying Party as incurred. Notwithstanding any other provision of this Agreement, the Indemnifying Party
shall not settle any indemnified claim without the consent of the Indemnified Party (which consent shall not be unreasonably withheld,
delayed or conditioned), unless the settlement thereof imposes no liability or obligation on, involves no admission of wrongdoing
or malfeasance by, and includes a complete release from liability of, the Indemnified Party.

    	
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ARTICLE VII

MISCELLANEOUS

Section 7.1. Termination.

(a) Notwithstanding anything herein to
the contrary, this Agreement may be terminated on or any time prior to the Closing by the written consent of the Purchaser upon
a breach in any material respect by the Company of any covenant or agreement set forth in this Agreement; provided, that such breach
would cause the conditions to the Purchaser’s obligations not to be satisfied and such breach is not cured within 20 days
after written notice from the Purchaser.

(b) Notwithstanding anything herein to
the contrary, this Agreement shall automatically terminate on or any time prior to the Closing if a Law shall have been enacted
or promulgated, or if any action shall have been taken by any Governmental Authority of competent jurisdiction that permanently
restrains, precludes, enjoins or otherwise prohibits the consummation of the transactions contemplated by this Agreement or the
Asset Transfer Agreement or makes the transactions contemplated by this Agreement illegal.

(c) In the event of the termination of
this Agreement as provided in this Section 7.1, (i) any payments of the Purchaser’s Commitment Amount received by the Company
shall be returned to the Purchaser and (ii) the Company shall pay the Purchaser its Commitment Fee, in each case, within two (2)
Business Days of such termination, and this Agreement shall forthwith become null and void. In the event of such termination, there
shall be no liability on the part of any Party hereto, except as set forth in Article VI and with respect to the requirement to
comply with any confidentiality agreement in favor of the Company; provided further, that nothing contained in this Section 7.1(c)
shall require the Company to pay the Purchaser its Commitment Fee if the Purchaser shall have breached its obligation to purchase
its Purchased Shares on the Closing Date in accordance with the terms hereof.

Section 7.2. Interpretation of Provisions.
Article, Section, Schedule and Exhibit references are to this Agreement, unless otherwise specified. All references to instruments,
documents, contracts and agreements are references to such instruments, documents, contracts and agreements as the same may be
amended, supplemented and otherwise modified from time to time, unless otherwise specified. The word “including” shall
mean “including but not limited to.” Whenever any party has an obligation under the Operative Documents, the expense
of complying with that obligation shall be an expense of such party unless otherwise specified. Whenever any determination, consent
or approval is to be made or given by the Purchaser under this Agreement, such action shall be in the Purchaser’s sole discretion
unless otherwise specified in this Agreement. If any provision in the Operative Documents is held to be illegal, invalid, not binding
or unenforceable, such provision shall be fully severable and the Operative Documents shall be construed and enforced as if such
illegal, invalid, not binding or unenforceable provision had never comprised a part of the Operative Documents, and the remaining
provisions shall remain in full force and effect. The Operative Documents have been reviewed and negotiated by sophisticated parties
with access to legal counsel and shall not be construed against the drafter.

Section 7.3. Survival of Provisions.
The representations and warranties set forth in Sections 3.1, 3.2, 3.4, 3.6, 3.21 and 3.23 and Sections 4.1, 4.2, 4.5, 4.7, 4.8,
4.9, 4.10 and 4.11 shall survive the execution and delivery of this Agreement and the Closing indefinitely, and the other representations
and warranties set forth in this Agreement shall survive for a period of twelve months following the Closing Date. The covenants
made in this Agreement or any other Operative Document shall survive the Closing of the transactions described herein and remain
operative and in full force and effect regardless of acceptance of any of the Purchased Shares and payment therefor and repayment,
conversion, exercise or repurchase thereof. All indemnification obligations of the Company and the Purchaser pursuant to Article
VI of this Agreement shall remain operative and in full force and effect unless such obligations are expressly terminated in writing
by the Parties referencing the particular Article or Section, regardless of any purported general termination of this Agreement.

    	
19

    	 

    

Section 7.4. No Waiver; Modifications
in Writing.

(a) Delay. No failure or delay
on the part of any Party in exercising any right, power or remedy hereunder shall operate as a waiver thereof, nor shall any single
or partial exercise of any such right, power or remedy preclude any other or further exercise thereof or the exercise of any other
right, power or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available
to a Party at law or in equity or otherwise.

(b) Specific Waiver. Except as
otherwise provided in this Agreement or the Registration Rights Agreement, no amendment, waiver, consent, modification or termination
of any provision of any Operative Document shall be effective unless signed by each of the Parties or each of the original signatories
thereto affected by such amendment, waiver, consent, modification or termination. Any amendment, supplement or modification of
or to any provision of any Operative Document, any waiver of any provision of this Agreement or any other Operative Document and
any consent to any departure by the Company or the Purchaser from the terms of any provision of any Operative Document shall be
effective only in the specific instance and for the specific purpose for which made or given. Except where notice is specifically
required by this Agreement, no notice to or demand on any Party in any case shall entitle any Party to any other or further notice
or demand in similar or other circumstances

Section 7.5. Binding Effect; Assignment.

(a) Binding Effect. This Agreement
shall be binding upon the Company, the Purchaser and their respective successors and permitted assigns. Except as expressly provided
in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any Person other than the Parties
to this Agreement and as provided in Article VI and their respective successors and permitted assigns.

(b)
Assignment of Rights.
The Purchaser may assign all or any portion of its rights and obligations under this Agreement to any Affiliate of the Purchaser
without the consent of the Company by delivery of an agreement to be bound by the provisions of this Agreement and a revised Schedule
A but that no such assignment shall relieve the assigning Purchaser of its obligations to purchase the Purchased Shares to be purchased
by it without giving effect to such assignment in the event the assignee fails to purchase all or any portion of such Purchased
Shares on the Closing Date. Except as expressly permitted by this Section 7.5(b), no portion of the rights and obligations under
this Agreement of the Purchaser may be transferred except with the prior written consent of the Company (which consent shall not
be unreasonably withheld), in which case the assignee shall be deemed to be the Purchaser hereunder with respect to such assigned
rights or obligations and shall agree to be bound by the provisions of this Agreement.

Section 7.6. Confidentiality and Non-Disclosure.
Notwithstanding anything herein to the contrary, to the extent the Purchaser has executed a confidentiality agreement in favor
of the Company, the Purchaser shall continue to be bound by such confidentiality agreement in accordance with the terms thereof
as applicable

    	
20

    	 

    
Section 7.7. Notices. All communications
hereunder will be in writing and effective only on receipt

(a) if to the Purchaser

To the address and counsel listed
on Schedule B hereof

(b) if to the Company:

Abengoa Yield plc

Great House West, GW1

17th floor

Great West Road

Brentford, United Kingdom, TW8
9DF

Attn: Chief Executive Officer

with a copy to

Linklaters LLP

1345 Avenue of the Americas

New York, New York, 10105

Attn: Jeffrey C. Cohen

Section 7.8. Removal of Legend.
In connection with a sale of the Purchased Shares by the Purchaser in reliance on Rule 144, the Purchaser or its broker shall deliver
to the Transfer Agent and the Company a customary broker representation letter providing to the Transfer Agent and the Company
any information the Company deems reasonably necessary to determine that the sale of the Purchased Shares is made in compliance
with Rule 144, including, as may be appropriate, a certification that the Purchaser is not an Affiliate of the Company and regarding
the length of time the Purchased Shares have been held. Upon receipt of such representation letter, the Company shall promptly
direct the Transfer Agent to remove the notation of a restrictive legend in the Purchaser’s book-entry account maintained
by the Transfer Agent, including the legend referred to in Section 4.11, and the Company shall bear all costs associated therewith.
After the Purchaser or its permitted assigns has held the Purchased Shares for such period as will allow the Purchaser to sell
such Purchased Shares without volume restrictions or public company information requirements pursuant to any section of Rule 144
(or any similar provision then in effect), if the book-entry account of such Purchased Shares still bears the notation of the restrictive
legend referred to in Section 4.11, the Company agrees, upon request of the Purchaser or permitted assignee, to take all steps
necessary to promptly effect the removal of the legend described in Section 4.11 from the Purchased Shares, and the Company shall
bear all costs associated therewith, regardless of whether the request is made in connection with a sale or otherwise, so long
as the Purchaser or its permitted assigns provide to the Company any information the Company deems reasonably necessary to determine
that the legend is no longer required under the Securities Act or applicable state laws, including a certification that the holder
is not an Affiliate of the Company (and a covenant to inform the Company if it should thereafter become an Affiliate and to consent
to the notation of an appropriate restriction) and regarding the length of time the Purchased Shares have been held.

Section 7.9. Integration. This
Agreement supersedes all prior agreements and understandings (whether written or oral) between the Company and the Purchaser, or
any of them, with respect to the subject matter hereof.

Section 7.10. Applicable Law.
This Agreement will be governed by and construed in accordance with the laws of the State of New York applicable to contracts made
and to be performed within the State of New York.

    	
21

    	 

    

Section 7.11. Waiver of Jury Trial.
The Company and the Purchaser hereby irrevocably waive, to the fullest extent permitted by applicable law, any and all right to
trial by jury in any legal proceeding arising out of or relating to this Agreement or the transactions contemplated hereby.

Section 7.12. Jurisdiction. The
Company hereby agrees that any suit, action or proceeding against the Company brought by the Purchaser, the directors, officers,
employees and agents of the Purchaser, or by any person who controls the Purchaser, arising out of or based upon this Agreement
or the transactions contemplated hereby may be instituted in any New York Court, and waives any objection which it may now or hereafter
have to the laying of venue of any such proceeding, and irrevocably submits to the non-exclusive jurisdiction of such courts in
any suit, action or proceeding. The Company has appointed Abengoa Solar LLC as its authorized agent (the “Authorized
Agent”) upon whom process may be served in any suit, action or proceeding arising out of or based upon this Agreement
or the transactions contemplated herein which may be instituted in any New York Court, by the Purchaser, the directors, officers,
employees and agents of the Purchaser, or by any person who controls the Purchaser, and expressly accepts the non-exclusive jurisdiction
of any such court in respect of any such suit, action or proceeding. The Company hereby represents and warrants that the Authorized
Agent has accepted such appointment and has agreed to act as said agent for service of process, and the Company agrees to take
any and all action, including the filing of any and all documents that may be necessary to continue such appointment in full force
and effect as aforesaid. Service of process upon the Authorized Agent shall be deemed, in every respect, effective service of process
upon the Company. The provisions of this Section 7.12 shall survive any termination of this Agreement, in whole or in part.

Section 7.13. Waiver of Immunity.
To the extent that the Company has or hereafter may acquire any immunity (sovereign or otherwise) from any legal action, suit or
proceeding, from jurisdiction of any court or from set-off or any legal process (whether service or notice, attachment in aid or
otherwise) with respect to itself or any of its property, the Company hereby irrevocably waives and agrees not to plead or claim
such immunity in respect of its obligations under this Agreement.

Section 7.14. Currency. Each reference
in this Agreement to U.S. Dollars (the “relevant currency”) is of the essence. To the fullest extent permitted
by law, the obligations of the Company in respect of any amount due under this Agreement will, notwithstanding any payment in any
other currency (whether pursuant to a judgment or otherwise), be discharged only to the extent of the amount in the relevant currency
that the party entitled to receive such payment may, in accordance with its normal procedures, purchase with the sum paid in such
other currency (after any premium and costs of exchange) on the Business Day immediately following the day on which such party
receives such payment. If the amount in the relevant currency that may be so purchased for any reason falls short of the amount
originally due, the Company making such payment will pay such additional amounts, in the relevant currency, as may be necessary
to compensate for the shortfall. Any obligation of any of the Company not discharged by such payment will, to the fullest extent
permitted by applicable law, be due as a separate and independent obligation and, until discharged as provided herein, will continue
in full force and effect.

Section 7.15. Recapitalizations, Exchanges,
etc. Affecting the Purchased Shares. The provisions of this Agreement shall apply to the full extent set forth herein with
respect to any and all Shares of the Company or any successor or assign of the Company (whether by merger, consolidation, sale
of assets or otherwise) that may be issued in respect of, in exchange for or in substitution of, the Purchased Shares and shall
be appropriately adjusted for combinations, recapitalizations and the like occurring after the date of this Agreement and prior
to the Closing.

Section 7.16. Third-Party Beneficiary.
The Placement Agents shall be entitled to assert rights and remedies hereunder as a third-party beneficiary with respect to the
representations, warranties and covenants given by the Company and the Purchaser in this Agreement.

    	
22

    	 

    

Section 7.17. Counterparts. This
Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of which together shall
constitute one and the same agreement.

Section 7.18. Headings. The section
headings used in this Agreement are for convenience only and shall not affect the construction hereof.

    	
23

    	 

    

IN WITNESS WHEREOF, the Parties
hereto execute this Agreement, effective as of the date first above written.

IN WITNESS WHEREOF, the Parties
hereto execute this Agreement, effective as of the date first above written.

	 	ABENGOA YIELD PLC
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

[Signature Page to Purchase Agreement]

    	 

    	 

    
	 	
        [PURCHASER]
	 	 
	 	By:	 
	 	 	Name:	 
	 	 	Title	 
	 	 	 	 
	 	 	 	 
	 	 	 	 

[Signature Page to Purchase Agreement]Exhibit 4.7

 

 

Dated May 14, 2015

 

 

 

FORM OF REGISTRATION RIGHTS AGREEMENT  

 

 

between  

 

ABENGOA YIELD PLC  

 

and  

 

THE PURCHASER NAMED HEREIN

 

 

 

 

 

    	 

    	 

    

Table of Contents

 

 

	Contents	Page
	1	Definitions	1
	 	 	 
	1.1	Definitions	1
	1.2	Registrable Securities	2
	 	 	 
	2	Registration Rights	3
	 	 	 
	2.1	Registration	3
	2.2	Delay Rights	4
	2.3	Sale Procedures	5
	2.4	Cooperation by Holders	7
	2.5	Expenses	7
	2.6	Indemnification	7
	2.7	Rule 144 Reporting	10
	2.8	Transfer or Assignment of Registration Rights	10
	2.9	Limitation on Subsequent Registration Rights	10
	 	 	 
	3	Miscellaneous	10
	 	 	 
	3.1	Communications	10
	3.2	Successor and Assigns	11
	3.3	Transfer or Assignment of Rights	11
	3.4	Recapitalization, Exchanges, Etc	11
	3.5	Aggregation of Registrable Securities	11
	3.6	Specific Performance	12
	3.7	Counterparts	12
	3.8	Headings	12
	3.9	Governing Law	12
	3.10	Waiver of Jury Trial	12
	3.11	Jurisdiction	12
	3.12	Severability of Provisions	12
	3.13	Entire Agreement	13
	3.14	Amendment	13
	3.15	No Presumption	13
	3.16	Obligations Limited to Parties to Agreement	13
	3.17	Independent Nature of Purchaser’s Obligations	13
	3.18	Interpretation	14

 

Schedule A – Purchaser List and Notice
Information

 

    	i

    	 

    

  

REGISTRATION RIGHTS AGREEMENT, dated as
of May 14, 2015 (this “Agreement”) by and among Abengoa Yield plc, a public limited company incorporated under
the laws of England and Wales (the “Company”) and the Purchaser set forth on Schedule A attached hereto (the
“Purchaser”).

 

WHEREAS, this Agreement is made in connection
with the closing of the issuance of ordinary shares, $0.10 nominal value, of the Company (the “Shares”) and
the issuance and sale of depositary receipts to the Purchaser pursuant to the Ordinary Share Purchase Agreement, dated as of May
8, 2015 (the “Purchase Agreement”) between the Company and the Purchaser. In addition to the Purchaser, other
persons are purchasing Shares from the Company pursuant to ordinary share purchase agreements with the Company dated as of May
8, 2015 (each such person, an “Other Purchaser” and together with the Purchaser, the “Private Placement
Purchasers”);

 

WHEREAS, the Company has agreed to provide
the registration and other rights set forth in this Agreement for the benefit of the Purchaser pursuant to the Purchase Agreement;
and

 

NOW THEREFORE, in consideration of the
mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which
are hereby acknowledged by each party hereto, the parties hereby agree as follows:

 

		1	Definitions 

 

		1.1	Definitions. Capitalized terms used herein without definition shall have the meanings given
to them in the Purchase Agreement. The terms set forth below are used herein as so defined:

 

“Affiliate”
means, with respect to a specified Person, any other Person that directly or indirectly through one or more intermediaries controls,
is controlled by or is under common control with, the Person in question. As used herein, the term “control” means
the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through ownership of voting securities, by contract or otherwise.

 

“Agreement”
has the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Closing Date”
is May 14, 2015.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Company” has
the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Effectiveness Period”
has the meaning specified therefor in 2.1.1.

 

“Holder” means
the record holder of any Registrable Securities.

 

“Liquidated Damages”
has the meaning specified therefor in 2.1.2.

 

“Liquidated Damages Multiplier”
means the product of the Share Price times the number of Purchased Shares of such Holder that may not be disposed of without restriction
and without the need for current public information pursuant to any section of Rule 144 (or any similar provision then in effect)
under the Securities Act.

 

“Losses” has
the meaning specified therefor in 2.6.1.

 

    	1

    	 

    

 

 

“NASDAQ” means
the NASDAQ Global Select Market.

 

“Other Purchaser”
has the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Person” means
any individual or a corporation, firm, limited liability company, partnership, joint venture, trust, unincorporated organization,
association, government agency or political subdivision thereof or other entity.

 

“Private Placement Purchasers”
has the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Purchaser”
has the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Purchase
Agreement” has the meaning specified therefor in the recitals of this Agreement.

 

“Registrable Securities”
means (a) the Shares underlying the depositary receipts acquired by the Purchaser pursuant to the Purchase Agreement and (b) any
Shares issued as Liquidated Damages pursuant to 2.1.2 of this Agreement and includes any type of interest issued to the Holder
as a result of 3.4.

 

“Registration Expenses”
means all expenses incident to the Company’s performance under or compliance with this Agreement to effect the registration
of Registrable Securities on the Registration Statement pursuant to 2.1.1, and the disposition of such Registrable Securities,
including, without limitation, all registration, filing, securities exchange listing and NASDAQ fees, all registration, filing,
qualification and other fees and expenses of complying with securities or blue sky laws, fees of the Financial Industry Regulatory
Authority, fees of transfer agents, all word processing, duplicating and printing expenses, any transfer taxes and the fees and
disbursements of counsel and independent public accountants for the Company, including the expenses of any special audits or comfort
letters required by or incident to such performance and compliance.

 

“Registration Statement”
has the meaning specified therefor in 2.1.1.

 

“Selling Expenses”
means all underwriting discounts and selling commissions or similar fees or arrangements allocable to the sale of the Registrable
Securities.

 

“Selling Holder”
means a Holder who is selling Registrable Securities pursuant to the Registration Statement.

 

“Selling Holder Indemnified
Persons” has the meaning specified therefor in 2.6.1.

 

“Share Price”
means $33.14 per Share.

 

		1.2	Registrable Securities. Any Registrable Security will cease to be a Registrable Security
when (a) a registration statement covering such Registrable Security becomes or has been declared effective by the Commission and
such Registrable Security has been sold or disposed of pursuant to such effective registration statement; (b) such Registrable
Security has been disposed of pursuant to any section of Rule 144 (or any similar provision then in force) under the Securities
Act; (c) such Registrable Security is held by the Company or one of its subsidiaries; (d) such Registrable Security has been transferred,
sold or disposed of in a private transaction in which the transferor’s rights under this Agreement are not assigned to the
transferee of such securities pursuant to 2.8; or (e) such Registrable Security becomes eligible for resale without restriction
and without the need for current public information pursuant to any section of Rule 144 (or any similar provision then in effect)
under the Securities Act.

    	2

    	 

    

 

		2	Registration Rights 

 

		2.1	Registration.

 

		2.1.1	Filing Deadline. No later than July 31, 2015, the Company shall prepare and file a registration
statement to permit the public resale of Registrable Securities then outstanding from time to time as permitted by Rule 415 under
the Securities Act (or any similar provision as is then in effect) with respect to all of the Registrable Securities (the “Registration
Statement”). The Registration Statement filed pursuant to this 2.1.1 shall be on such appropriate registration form of
the Commission as shall be selected by the Company so long as it permits the continuous offering of the Registrable Securities
pursuant to Rule 415 under the Securities Act (or any similar provision as is then in effect) at the then prevailing market prices.
The Company shall use its commercially reasonable efforts to cause the Registration Statement to become effective by July 31, 2015.
Any Registration Statement shall provide for the resale pursuant to any method or combination of methods legally available to,
and requested by, the Holders of any and all Registrable Securities covered by such Registration Statement. The Company shall use
its commercially reasonable efforts to cause the Registration Statement filed pursuant to this 2.1.1 to be effective, supplemented
and amended to the extent necessary to ensure that it is available for the resale of all Registrable Securities by the Holders
until all Registrable Securities covered by such Registration Statement have ceased to be Registrable Securities (the “Effectiveness
Period”). The Registration Statement when effective (including the documents incorporated therein by reference) will
comply as to form in all material respects with all applicable requirements of the Securities Act and the Exchange Act and will
not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary
to make the statements therein not misleading (in the case of any prospectus contained in such Registration Statement, in the light
of the circumstances under which a statement is made). As soon as practicable following the date that the Registration Statement
becomes effective, but in any event within two (2) Business Days of such date, the Company shall provide the Holders with written
notice of the effectiveness of the Registration Statement.

 

		2.1.2	Failure To Go Effective. If the Registration Statement required by 2.1.1 is not declared
effective within 120 days after the Closing Date, then each Holder shall be entitled to a payment (with respect to the Purchased
Shares of each such Holder), as liquidated damages and not as a penalty, of 0.25% of the Liquidated Damages Multiplier per 30-day
period, which shall accrue daily, for the first 60 days following the 120th day, increasing by an additional 0.25% of the Liquidated
Damages Multiplier per 30-day period, which shall accrue daily, for each subsequent 60 days (i.e., 0.5% for 61-120 days, 0.75%
for 121-180 days and 1.0% thereafter), up to a maximum of 1.00% of the Liquidated Damages Multiplier per 30-day period (the “Liquidated
Damages”). The Liquidated Damages payable pursuant to the immediately preceding sentence shall be payable within ten
(10) Business Days after the end of each such 30-day period. Any Liquidated Damages shall be paid to each Holder in immediately
available funds; provided, however, if the Company certifies that it is unable to pay Liquidated Damages in cash because
such payment would result in a breach under a credit facility or other debt instrument, then the Company may pay the Liquidated
Damages in kind in the form of the issuance of additional Shares. Upon any issuance of Shares as Liquidated Damages, the Company
shall promptly (i) prepare and file an amendment to the Registration Statement prior to its effectiveness adding such Shares to
such Registration Statement as additional Registrable Securities and (ii) prepare and file a supplemental listing application with
NASDAQ (or such other market on which the Registrable Securities are then listed and traded) to list such additional Shares. The
determination of the number of Shares to be issued as Liquidated Damages shall be equal to the amount of Liquidated Damages divided
by the volume-weighted average price of the Shares on NASDAQ (or such other market on which Shares are then listed and traded)
over the consecutive ten (10) trading day period preceding the date on which the Liquidated Damages payment is due. The accrual
of Liquidated Damages to a Holder shall cease at the earlier of (i) the Registration Statement becoming effective or (ii) when
such Holder no longer holds Registrable Securities, and any payment of Liquidated Damages shall be prorated for any period of less
than 30 days in which the payment of Liquidated Damages ceases. If the Company is unable to cause a Registration Statement to go
effective within 120 days after the Closing Date as a result of an acquisition, merger, reorganization, disposition or other similar
transaction, then the Company may request a waiver of the Liquidated Damages, and each Holder must individually consent to such
request.

 

    	3

    	 

    

		2.1.3	Termination of Holder’s Rights. A Holder’s rights (and any transferee’s
rights) pursuant to 2.1.1 shall terminate upon the termination of the Effectiveness Period.

 

		2.2	Delay Rights.

 

		2.2.1	Delay Rights. Notwithstanding anything to the contrary contained herein, the Company may,
upon written notice to any Selling Holder whose Registrable Securities are included in the Registration Statement, suspend such
Selling Holder’s use of any prospectus which is a part of the Registration Statement (in which event the Selling Holder shall
discontinue sales of the Registrable Securities pursuant to the Registration Statement but may settle any previously made sales
of Registrable Securities) if (i) the Company is pursuing an acquisition, merger, reorganization, disposition, financing or other
similar transaction or other corporate transaction and the Company determines in good faith that the Company’s ability to
pursue or consummate such a transaction would be materially adversely affected by any required disclosure of such transaction in
the Registration Statement or (ii) the Company has experienced some other material non-public event the disclosure of which at
such time, in the good faith judgment of the Company, would materially adversely affect the Company; provided, however,
in no event shall the Selling Holders be suspended from selling Registrable Securities pursuant to the Registration Statement for
a period that exceeds an aggregate of 60 days in any 180-day period or 105 days in any 365-day period. Upon disclosure of such
information or the termination of the condition described above, the Company shall provide prompt notice to the Selling Holders
whose Registrable Securities are included in the Registration Statement and shall promptly terminate any suspension of sales it
has put into effect and shall take such other reasonable actions to permit registered sales of Registrable Securities as contemplated
in this Agreement.

 

		2.2.2	Additional Rights to Liquidated Damages. If (i) the Selling Holders shall be prohibited
from selling their Registrable Securities under the Registration Statement as a result of a suspension pursuant to 2.2.1 in excess
of the periods permitted therein or (ii) the Registration Statement is filed and declared effective but, during the Effectiveness
Period, shall thereafter cease to be effective or fail to be usable for its intended purpose without being succeeded within 30
days by a post-effective amendment thereto, a supplement to the prospectus or a report filed with the Commission pursuant to Sections
13(a), 13(c), 14 or 15(d) of the Exchange Act, then, until the suspension is lifted or a post-effective amendment, supplement or
report is filed with the Commission, but not including any day on which a suspension is lifted or such amendment, supplement or
report is filed and declared effective, if applicable, the Company shall owe the Selling Holders an amount equal to the Liquidated
Damages, following the earlier of (x) the date on which the suspension period exceeded the permitted period and (y) the thirty-first
(31st) day after the Registration Statement ceased to be effective or failed to be useable for its intended purposes, as liquidated
damages and not as a penalty (for purposes of calculating Liquidated Damages, the date in (x) or (y) above shall be deemed the
“120th day,” as used in the definition of Liquidated Damages). For purposes of this paragraph, a suspension shall be
deemed lifted on the date that notice that the suspension has been terminated is delivered to the Holders. Liquidated Damages shall
cease to accrue pursuant to this paragraph upon the Purchased Shares of such Holder becoming eligible for resale without restriction
and without the need for current public information under any section of Rule 144 (or any similar provision then in effect) under
the Securities Act, assuming that each such Holder is not an Affiliate of the Company, and any payment of Liquidated Damages shall
be prorated for any period of less than 30 days in which the payment of Liquidated Damages ceases.

 

    	4

    	 

    

		2.2.3	No Demand Rights. Notwithstanding any other provision of this Agreement, no Holder shall
be entitled to any “demand” rights or similar rights that would require the Company to effect any offering on behalf
of the Holders.

 

		2.3	Sale Procedures. In connection with its obligations under this Section 2, the Company will,
as promptly as reasonably practicable:

 

		2.3.1	prepare and file with the Commission such amendments and supplements to the Registration Statement
and the prospectus or prospectus supplement used in connection therewith as may be necessary to keep the Registration Statement
effective for the Effectiveness Period and as may be necessary to comply with the provisions of the Securities Act with respect
to the disposition of all Registrable Securities covered by the Registration Statement;

 

		2.3.2	furnish to each Selling Holder (i) as far in advance as reasonably practicable before filing the
Registration Statement or any amendment or supplement thereto, upon request, copies of reasonably complete drafts of all such documents
proposed to be filed (including exhibits and each document incorporated by reference therein to the extent then required by the
rules and regulations of the Commission) and provide each such Selling Holder the opportunity to object to any information pertaining
to such Selling Holder and its plan of distribution that is contained therein and make the corrections reasonably requested by
such Selling Holder with respect to such information prior to filing the Registration Statement or any supplement or amendment
thereto and (ii) such number of copies of the Registration Statement and the prospectus or prospectus supplement included therein
and any amendments or supplements thereto as such Selling Holder may reasonably request in order to facilitate the public sale
or other disposition of the Registrable Securities covered by such Registration Statement;

 

		2.3.3	if applicable, use its commercially reasonable efforts to register or qualify the Registrable Securities
covered by the Registration Statement under the securities or blue sky laws of such jurisdictions as the Selling Holders; provided,
however, that the Company will not be required to qualify generally to transact business in any jurisdiction where it is not
then required to so qualify or to take any action that would subject it to general service of process in any jurisdiction where
it is not then so subject;

 

		2.3.4	promptly notify each Selling Holder, at any time when a prospectus relating thereto is required
to be delivered by any of them under the Securities Act, of (i) the filing of the Registration Statement or any prospectus or prospectus
supplement to be used in connection therewith, or any amendment or supplement thereto, and, with respect to such Registration Statement
or any post-effective amendment thereto, when the same has become effective; and (ii) the receipt of any written comments from
the Commission with respect to any filing referred to in clause (i) above and any written request by the Commission for amendments
or supplements to the Registration Statement or any prospectus or prospectus supplement thereto;

 

		2.3.5	immediately notify each Selling Holder, at any time when a prospectus or prospectus supplement
related thereto is required to be delivered under the Securities Act of (i) the happening of any event as a result of which the
prospectus or prospectus supplement contained in the Registration Statement, as then in effect, includes an untrue statement of
a material fact or omits to state any material fact required to be stated therein or necessary to make the statements therein not
misleading (in the case of any prospectus or prospectus supplement contained therein, in the light of the circumstances under which
such statement is made); (ii) the issuance or express threat of issuance by the Commission of any stop order suspending the effectiveness
of the Registration Statement, or the initiation of any proceedings for that purpose; or (iii) the receipt by the Company of any
notification with respect to the suspension of the qualification of any Registrable Securities for sale under the applicable securities
or blue sky laws of any jurisdiction. Following the provision of such notice, the Company agrees to as promptly as practicable
amend or supplement the prospectus or prospectus supplement or take other appropriate action so that the prospectus or prospectus
supplement does not include an untrue statement of a material fact or omit to state a material fact required to be stated therein
or necessary to make the statements therein not misleading in the light of the circumstances then existing and to take such other
commercially reasonable action as is necessary to remove a stop order, suspension, threat thereof or proceedings related thereto;

 

    	5

    	 

    

		2.3.6	upon request and subject to appropriate confidentiality obligations, furnish to each Selling Holder
copies of any and all transmittal letters or other correspondence with the Commission or any other governmental agency or self-regulatory
body or other body having jurisdiction (including any domestic or foreign securities exchange) relating to such offering of Registrable
Securities;

 

		2.3.7	otherwise use its commercially reasonable efforts to comply with all applicable rules and regulations
of the Commission, and make available to its security holders, as soon as reasonably practicable, an earnings statement which shall
satisfy the provisions of Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;

 

		2.3.8	cause all such Registrable Securities registered pursuant to this Agreement to be listed on each
securities exchange or nationally recognized quotation system on which similar securities issued by the Company are then listed;

 

		2.3.9	use its commercially reasonable efforts to cause the Registrable Securities to be registered with
or approved by such other governmental agencies or authorities as may be necessary by virtue of the business and operations of
the Company to enable the Selling Holders to consummate the disposition of such Registrable Securities;

 

		2.3.10	provide a transfer agent for all Registrable Securities covered by the Registration Statement not
later than the effective date of the Registration Statement;

 

		2.3.11	enter into customary agreements and take such other customary actions as are reasonably requested
by the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition of such Registrable Securities;
and

 

		2.3.12	if requested by a Selling Holder, (i) incorporate in a prospectus or prospectus supplement or post-effective
amendment to the Registration Statement such information as such Selling Holder reasonably requests to be included therein relating
to the sale and distribution of Registrable Securities, including information with respect to the number of Registrable Securities
being offered or sold, the purchase price being paid therefor and any other terms of the offering of the Registrable Securities
to be sold in such offering and (ii) make all required filings of such prospectus or prospectus supplement or post-effective amendment
to the Registration Statement after being notified of the matters to be incorporated in such prospectus or prospectus supplement
or post-effective amendment.

 

The Company will not name a
Holder as an underwriter as defined in Section 2(a)(11) of the Securities Act in any Registration Statement without such Holder’s
consent. If the staff of the Commission requires the Company to name any Holder as an underwriter as defined in Section 2(a)(11)
of the Securities Act, and such Holder does not consent thereto, then such Holder’s Registrable Securities shall not be included
in the Registration Statement, such Holder shall no longer be entitled to receive Liquidated Damages under this Agreement with
respect thereto and the Company shall have no further obligations hereunder with respect to Registrable Securities held by such
Holder.

    	6

    	 

    

 

Each Selling Holder, upon receipt
of notice from the Company of the happening of any event of the kind described in 2.3.5, shall forthwith discontinue offers and
sales of the Registrable Securities by means of a prospectus or prospectus supplement until such Selling Holder’s receipt
of the copies of the supplemented or amended prospectus or prospectus supplement contemplated by 2.3.5 or until it is advised in
writing by the Company that the use of the prospectus or prospectus supplement may be resumed and has received copies of any additional
or supplemental filings incorporated by reference in the prospectus or prospectus supplement, and, if so directed by the Company,
such Selling Holder will deliver to the Company all copies in their possession or control of the prospectus or prospectus supplement
covering such Registrable Securities current at the time of receipt of such notice.

 

		2.4	Cooperation by Holders. The Company shall have no obligation to include Registrable Securities
of a Holder in the Registration Statement pursuant to 2.1.1 who has failed to timely furnish such information that the Company
determines, after consultation with counsel, is reasonably required in order for such registration statement or prospectus or prospectus
supplement, as applicable, to comply with the Securities Act.

 

		2.5	Expenses. The Company will pay all reasonable Registration Expenses as determined in good
faith, whether or not any sale is made. Each Selling Holder shall pay its pro rata share of all Selling Expenses in connection
with any sale of its Registrable Securities hereunder. In addition, except as otherwise provided in 2.6 hereof, the Company shall
not be responsible for legal fees incurred by Holders in connection with the exercise of such Holders’ rights hereunder.

 

		2.6	Indemnification.

 

		2.6.1	By the Company. In the event of a registration of any Registrable Securities under the Securities
Act pursuant to this Agreement, the Company will indemnify and hold harmless each Selling Holder thereunder, its directors, officers,
managers, employees and agents and each Person, if any, who controls such Selling Holder within the meaning of the Securities Act
and the Exchange Act, and its directors, officers, employees or agents (collectively, the “Selling Holder Indemnified
Persons”), against any losses, claims, damages, expenses or liabilities (including reasonable attorneys’ fees and
expenses, collectively, “Losses”), joint or several, to which such Selling Holder Indemnified Person may become
subject under the Securities Act, the Exchange Act or otherwise, insofar as such Losses (or actions or proceedings, whether commenced
or threatened, in respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of any material
fact (in the case of any prospectus or prospectus supplement, in light of the circumstances under which such statement is made)
contained in the Registration Statement, any preliminary prospectus or prospectus supplement, free writing prospectus or final
prospectus or prospectus supplement contained therein, or any amendment or supplement thereto, or arise out of or are based upon
the omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements
therein (in the case of a prospectus or prospectus supplement, in light of the circumstances under which they were made) not misleading,
and will reimburse each such Selling Holder Indemnified Person for any legal or other expenses reasonably incurred by them in connection
with investigating or defending any such Loss or actions or proceedings; provided, however, that the Company will not be
liable in any such case if and to the extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission so made in conformity with information furnished by such Selling Holder Indemnified Person
in writing specifically for use in the Registration Statement, preliminary prospectus or prospectus supplement, free writing prospectus,
final prospectus or prospectus supplement contained therein, or any amendment or supplement thereto, as applicable. Such indemnity
shall remain in full force and effect regardless of any investigation made by or on behalf of such Selling Holder Indemnified Person
and shall survive the transfer of such securities by such Selling Holder.

    	7

    	 

    

 

		2.6.2	By Each Selling Holder. Each Selling Holder agrees severally and not jointly to indemnify
and hold harmless the Company, its directors, officers, employees and agents and each Person, if any, who controls the Company
within the meaning of the Securities Act or of the Exchange Act, and its directors, officers, employees and agents, to the same
extent as the foregoing indemnity from the Company to the Selling Holders, but only with respect to information regarding such
Selling Holder furnished in writing by or on behalf of such Selling Holder expressly for inclusion in the Registration Statement,
any preliminary prospectus or prospectus supplement, free writing prospectus or final prospectus or prospectus supplement contained
therein, or any amendment or supplement thereof; provided, however, that the liability of each Selling Holder shall not
be greater in amount than the dollar amount of the proceeds (net of any Selling Expenses) received by such Selling Holder from
the sale of the Registrable Securities giving rise to such indemnification.

 

		2.6.3	Notice. Promptly after receipt by an indemnified party hereunder of notice of the commencement
of any action, such indemnified party shall, if a claim in respect thereof is to be made against the indemnifying party hereunder,
notify the indemnifying party in writing thereof, but the omission so to notify the indemnifying party shall not relieve it from
any liability that it may have to any indemnified party other than under this 2.6. In any action brought against any indemnified
party, it shall notify the indemnifying party of the commencement thereof. The indemnifying party shall be entitled to participate
in and, to the extent it shall wish, to assume and undertake the defense thereof with counsel reasonably satisfactory to such indemnified
party and, after notice from the indemnifying party to such indemnified party of its election so to assume and undertake the defense
thereof, the indemnifying party shall not be liable to such indemnified party under this 2.6 for any legal expenses subsequently
incurred by such indemnified party in connection with the defense thereof other than reasonable costs of investigation and of liaison
with counsel so selected; provided, however, that, (i) if the indemnifying party has failed to assume the defense or employ
counsel reasonably acceptable to the indemnified party or (ii) if the defendants in any such action include both the indemnified
party and the indemnifying party and counsel to the indemnified party shall have concluded that there may be reasonable defenses
available to the indemnified party that are different from or additional to those available to the indemnifying party, or if the
interests of the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying party, then the
indemnified party shall have the right to select a separate counsel and to assume such legal defense and otherwise to participate
in the defense of such action, with the reasonable expenses and fees of such separate counsel and other reasonable expenses related
to such participation to be reimbursed by the indemnifying party as incurred. Notwithstanding any other provision of this Agreement,
no indemnifying party shall settle any action brought against it with respect to which it is entitled to indemnification hereunder
without the consent of the indemnified party, unless the settlement thereof imposes no liability or obligation on, and includes
a complete and unconditional release from all liability of, the indemnified party.

 

    	8

    	 

    

		2.6.4	Contribution. If the indemnification provided for in this 2.6 is held by a court or government
agency of competent jurisdiction to be unavailable to any indemnified party or is insufficient to hold them harmless in respect
of any losses, then each such indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such loss in such proportion as is appropriate to reflect the relative
fault of the indemnifying party on the one hand and of such indemnified party on the other in connection with the statements or
omissions that resulted in such losses, as well as any other relevant equitable considerations; provided, however, that
in no event shall such Selling Holder be required to contribute an aggregate amount in excess of the dollar amount of proceeds
(net of Selling Expenses) received by such Selling Holder from the sale of Registrable Securities giving rise to such indemnification.
The relative fault of the indemnifying party on the one hand and the indemnified party on the other shall be determined by reference
to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to
state a material fact has been made by, or relates to, information supplied by such party, and the parties’ relative intent,
knowledge, access to information and opportunity to correct or prevent such statement or omission. The parties hereto agree that
it would not be just and equitable if contributions pursuant to this paragraph were to be determined by pro rata allocation or
by any other method of allocation that does not take account of the equitable considerations referred to herein. The amount paid
by an indemnified party as a result of the losses referred to in the first sentence of this paragraph shall be deemed to include
any legal and other expenses reasonably incurred by such Indemnified Party in connection with investigating or defending any loss
that is the subject of this paragraph. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of
the Securities Act) shall be entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

 

		2.6.5	Other Indemnification. The provisions of this 2.6 shall be in addition to any other rights
to indemnification or contribution that an Indemnified Party may have pursuant to law, equity, contract or otherwise.

    	9

    	 

    

 

		2.7	Rule 144 Reporting. With a view to making available the benefits of certain rules and regulations
of the Commission that may permit the sale of the Registrable Securities to the public without registration, the Company agrees
to use its commercially reasonable efforts to:

 

		2.7.1	make and keep public information regarding the Company available, as those terms are understood
and defined in Rule 144 under the Securities Act, at all times from and after the date hereof;

 

		2.7.2	file with the Commission in a timely manner all reports and other documents required of the Company
under the Exchange Act at all times from and after the date hereof; and

 

		2.7.3	so long as a Holder owns any Registrable Securities, furnish, unless otherwise available via EDGAR,
to such Holder forthwith upon request a copy of the most recent annual or quarterly report of the Company, and such other reports
and documents so filed as such Holder may reasonably request in availing itself of any rule or regulation of the Commission allowing
such Holder to sell any such securities without registration.

 

		2.8	Transfer or Assignment of Registration Rights. The right to cause the Company to register
Registrable Securities granted to the Purchaser by the Company under this Section 2 may be transferred or assigned by the Purchaser
to one or more transferee(s) or assignee(s) of Registrable Securities; provided, however, that (a) unless such transferee
or assignee is an Affiliate of, and after such transfer or assignment continues to be an Affiliate of, the Purchaser, the amount
of Registrable Securities transferred or assigned to such transferee or assignee represents at least $10.0 million of Registrable
Securities (based on the Share Price), (b) the Company is given written notice prior to any said transfer or assignment, stating
the name and address of each such transferee or assignee and identifying the securities with respect to which such registration
rights are being transferred or assigned and (c) each such transferee or assignee assumes in writing responsibility for its portion
of the obligations of the Purchaser under this Agreement.

 

		2.9	Limitation
on Subsequent Registration Rights. From and after the date hereof, the Company shall not, without the prior written consent
of the Holders of a majority of the outstanding Registrable Securities, enter into any agreement with any current or future holder
of any securities of the Company that would allow such current or future holder to require the Company to include securities in
any registration statement filed by the Company on a basis other than pari passu with, or expressly subordinate to the
rights of, the Holders of Registrable Securities hereunder.

  

		3	Miscellaneous

 

		3.1	Communications. All notices and other communications provided for or permitted hereunder
shall be made in writing by facsimile, electronic mail, courier service or personal delivery:

 

		3.1.1	if to the Purchaser:

 

To the address and counsel
listed on Schedule A hereof;

 

if to a transferee of the Purchaser,
to such Holder at the address provided pursuant to 2.8 above; and

    	10

    	 

    

 

		3.1.2	if to the Company:

 

Abengoa Yield plc

Great House West, GW1, 17th floor,

Great West Road

Brentford, United Kingdom, TW8 9DF

Attention: Chief Executive Officer

 

with a copy to:

 

Attention: General Counsel and
Company Secretary

 

and:

 

Linklaters LLP

1345 Avenue of the Americas

19th Floor

New York, NY 10105

Attention: Jeffrey C. Cohen

Facsimile: 212.903.9100

Email: jeffrey.cohen@linklaters.com

 

All such notices and communications
shall be deemed to have been received at the time delivered by hand, if personally delivered; when sent by confirmed facsimile
or electronic mail if sent during normal business hours, but if not, then on the next Business Day; and when actually received,
if sent by courier service or any other means.

 

		3.2	Successor and Assigns. This Agreement shall inure to the benefit of and be binding upon
the successors and permitted assigns of each of the parties, including subsequent Holders of Registrable Securities to the extent
permitted herein.

 

		3.3	Transfer or Assignment of Rights. All or any portion of the rights and obligations of the
Purchaser under this Agreement may be transferred or assigned by the Purchaser only in accordance with 2.8 hereof.

 

		3.4	Recapitalization, Exchanges, Etc. Affecting the Registrable Securities. The provisions of
this Agreement shall apply to the full extent set forth herein with respect to any and all securities of the Company or any successor
or assign of the Company (whether by merger, consolidation, sale of assets or otherwise) that may be issued in respect of, in exchange
for or in substitution of, the Registrable Securities, and shall be appropriately adjusted for combinations, splits, recapitalizations,
pro rata distributions and the like occurring after the date of this Agreement.

 

		3.5	Aggregation of Registrable Securities. All Registrable Securities held or acquired by Persons
who are Affiliates of one another shall be aggregated together for the purpose of determining the availability of any rights and
applicability of any obligations under this Agreement.

    	11

    	 

    

 

		3.6	Specific Performance. Damages in the event of breach of this Agreement by a party hereto
may be difficult, if not impossible, to ascertain, and it is therefore agreed that each such Person, in addition to and without
limiting any other remedy or right it may have, will have the right to an injunction or other equitable relief in any court of
competent jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions hereof, and each of the
parties hereto hereby waives any and all defenses it may have on the ground of lack of jurisdiction or competence of the court
to grant such an injunction or other equitable relief. The existence of this right will not preclude any such Person from pursuing
any other rights and remedies at law or in equity that such Person may have.

 

		3.7	Counterparts. This Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original
and all of which counterparts, taken together, shall constitute but one and the same Agreement.

 

		3.8	Headings. The headings in this Agreement are for convenience of reference only and shall
not limit or otherwise affect the meaning hereof.

 

		3.9	Governing Law. This Agreement will be governed by and construed in accordance with the laws
of the State of New York applicable to contracts made and to be performed within the State of New York.

 

		3.10	Waiver of Jury Trial. The Company and the Purchaser hereby irrevocably waive, to the fullest
extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this
Agreement or the transactions contemplated hereby.

 

		3.11	Jurisdiction. The Company hereby agrees that any suit, action or proceeding against the
Company brought by the Purchaser, the directors, officers, employees and agents of the Purchaser, or by any person who controls
the Purchaser, arising out of or based upon this Agreement or the transactions contemplated hereby may be instituted in any New
York Court, and waives any objection which it may now or hereafter have to the laying of venue of any such proceeding, and irrevocably
submits to the non-exclusive jurisdiction of such courts in any suit, action or proceeding. The Company has appointed Abengoa Solar
LLC as its authorized agent (the “Authorized Agent”) upon whom process may be served in any suit, action or
proceeding arising out of or based upon this Agreement or the transactions contemplated herein which may be instituted in any New
York Court, by the Purchaser, the directors, officers, employees and agents of the Purchaser, or by any person who controls the
Purchaser, and expressly accepts the non-exclusive jurisdiction of any such court in respect of any such suit, action or proceeding.
The Company hereby represents and warrants that the Authorized Agent has accepted such appointment and has agreed to act as said
agent for service of process, and the Company agrees to take any and all action, including the filing of any and all documents
that may be necessary to continue such appointment in full force and effect as aforesaid. Service of process upon the Authorized
Agent shall be deemed, in every respect, effective service of process upon the Company.

 

		3.12	Severability of Provisions. Any provision of this Agreement which is prohibited or unenforceable
in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without
invalidating the remaining provisions hereof or affecting or impairing the validity or enforceability of such provision in any
other jurisdiction.

 

    	12

    	 

    

		3.13	Entire Agreement. This Agreement is intended by the parties as a final expression of their
agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties hereto in respect
of the subject matter contained herein. There are no restrictions, promises, warranties or undertakings, other than those set forth
or referred to herein with respect to the rights granted by the Company set forth herein. This Agreement and the Purchase Agreement
supersede all prior agreements and understandings between the parties with respect to such subject matter.

 

		3.14	Amendment. This Agreement may be amended only by means of a written amendment signed by
the Company and the Holders of a majority of the then outstanding Registrable Securities; provided, however, that no such
amendment shall materially and adversely affect the rights of any Holder hereunder without the consent of such Holder.

 

		3.15	No Presumption. If any claim is made by a party relating to any conflict, omission or ambiguity
in this Agreement, no presumption or burden of proof or persuasion shall be implied by virtue of the fact that this Agreement was
prepared by or at the request of a particular party or its counsel.

 

		3.16	Obligations Limited to Parties to Agreement. Each of the parties hereto covenants, agrees
and acknowledges that no Person other than the Purchaser (and its permitted transferees and assignees) and the Company shall have
any obligation hereunder and that, notwithstanding that the Purchaser may be a corporation, partnership or limited liability company,
no recourse under this Agreement or under any documents or instruments delivered in connection herewith or therewith shall be had
against any former, current or future director, officer, employee, agent, general or limited partner, manager, member, stockholder
or Affiliate of the Purchaser or any former, current or future director, officer, employee, agent, general or limited partner,
manager, member, stockholder or Affiliate of any of the foregoing, whether by the enforcement of any assessment or by any legal
or equitable proceeding, or by virtue of any applicable Law, it being expressly agreed and acknowledged that no personal liability
whatsoever shall attach to, be imposed on or otherwise be incurred by any former, current or future director, officer, employee,
agent, general or limited partner, manager, member, stockholder or Affiliate of the Purchaser or any former, current or future
director, officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the foregoing,
as such, for any obligations of the Purchaser under this Agreement or any documents or instruments delivered in connection herewith
or therewith or for any claim based on, in respect of or by reason of such obligation or its creation, except in each case for
any transferee or assignee of the Purchaser hereunder.

 

		3.17	Independent Nature of Purchaser’s Obligations. The obligations of the Purchaser (and
its permitted transferees and assignees) under this Agreement are not joint with the obligations of any Other Purchaser, and no
Purchaser shall be responsible in any way for the performance of the obligations of any Other Purchaser. Nothing contained herein,
and no action taken by the Purchaser pursuant thereto, shall be deemed to constitute the Private Placement Purchasers as a partnership,
an association, a joint venture or any other kind of group or entity, or create a presumption that the Private Placement Purchasers
are in any way acting in concert or as a group with respect to such obligations or the transactions contemplated by this Agreement.
The Purchaser shall be entitled to independently protect and enforce its rights, including without limitation, the rights arising
out of this Agreement, and it shall not be necessary for any Other Purchaser to be joined as an additional party in any proceeding
for such purpose.

    	13

    	 

    

 

		3.18	Interpretation. All references to “Sections” shall be deemed references to this
Agreement, unless otherwise specified. All references to instruments, documents, contracts and agreements are references to such
instruments, documents, contracts and agreements as the same may be amended, supplemented and otherwise modified from time to time,
unless otherwise specified. The word “including” shall mean “including but not limited to.” Whenever any
determination, consent or approval is to be made or given by a Holder under this Agreement, such action shall be in such Holder’s
sole discretion unless otherwise specified.

 

[Signature pages to follow]

 

    	14

    	 

    

IN WITNESS WHEREOF, the Parties hereto
execute this Agreement, effective as of the date first above written.

 

ABENGOA YIELD PLC

 

	By	 	 
	 	Name:	 	 
	 	Title:	 	 

 

 

 

Signature Page to Registration Rights
Agreement

 

 

    	 

    	 

    

 

 

 

	By	 	 
	 	Name:	 	 
	 	Title:	 	 

 

 

Signature Page to Registration Rights
Agreement

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