Document:

ex10_54.htm

    
      

    

    Exhibit
10.54

    ***CONFIDENTIAL
TREATMENT REQUESTED – CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED
AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION***

    

    TURNKEY
CONSTRUCTION CONTRACT

    FOR
THE CONSTRUCTION OF A SOLAR PARK

    

    

    BETWEEN

    

    

    SUNPOWER
ENERGY SYSTEMS SPAIN, S.L.

    

    As
Contractor

    

    

    AND

    

    

    MORALAS
RENOVABLES, S.L.

    

    

    as
Owner

    

    

     

    

    November
6, 2007

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

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    TABLE
OF CONTENTS

     

    
      
        
          	
                  1.

                	
                  DEFINITIONS

                	
                  4

                
	 	 	 
	
                  2.

                	
                  PURPOSE
      AND SCOPE OF WORK

                	
                  9

                
	 	 	 
	
                  2.1

                	
                  Purpose
      of the Contract

                	
                  9

                
	
                  2.2

                	
                  Scope
      of Work

                	
                  10

                
	
                  2.3

                	
                  Exclusions

                	
                  11

                
	
                  2.4

                	
                  Changes
      in the Scope

                	
                  11

                
	 	 	 
	
                  3.

                	
                  COMMENCEMENT
      OF WORK

                	
                  12

                
	 	 	 
	
                  4.

                	
                  PRICE
      AND FORM OF PAYMENT

                	
                  14

                
	 	 	 
	
                  4.1

                	
                  Contract
      Price

                	
                  14

                
	
                  4.2

                	
                  Payment
      Milestones

                	
                  16

                
	
                  4.3

                	
                  Invoicing
      System and Form of Payment

                	
                  17

                
	 	 	 
	
                  5.

                	
                  IMPLEMENTATION
      SCHEDULE. TESTS AND PROVISIONAL ACCEPTANCE

                	
                  18

                
	 	 	 
	
                  5.1

                	
                  Implementation
      Schedule. Changes in the Deadline

                	
                  18

                
	
                  5.2

                	
                  Performance
      Tests and Provisional Acceptance

                	
                  19

                
	 	 	 
	
                  6.

                	
                  OTHER
      OBLIGATIONS OF THE CONTRACTOR

                	
                  21

                
	 	 	 
	
                  6.1

                	
                  Prevention
      of Occupational Risks

                	
                  21

                
	
                  6.2

                	
                  Obligation
      to Provide Access to the Site

                	
                  22

                
	
                  6.3

                	
                  Minimum
      Stock and Supply of Spare Parts

                	
                  22

                
	
                  6.5

                	
                  Regulatory
      Compliance

                	
                  23

                
	
                  6.6

                	
                  Permits
      and Authorizations

                	
                  23

                
	
                  6.7

                	
                  Training
      of the Owner’s Personnel

                	
                  25

                
	
                  6.8

                	
                  Designation
      of Project Director

                	
                  25

                
	
                  6.9

                	
                  Taxes
      and Import Duties

                	
                  25

                
	
                  6.10

                	
                  Intellectual
      and Industrial Property Rights

                	
                  25

                
	
                  6.11

                	
                  Cooperation

                	
                  26

                
	 	 	 
	
                  7.

                	
                  OBLIGATIONS
      OF THE OWNER

                	
                  26

                
	 	 	 
	
                  8.

                	
                  GUARANTEES

                	
                  27

                
	 	 	 
	
                  8.1

                	
                  Solar
      Module Degradation Guarantee

                	
                  27

                
	
                  8.2

                	
                  Solar
      Module Capacity Guarantee

                	
                  27

                
	
                  8.3

                	
                  Design,
      Assembly and Performance Guarantee. Materials Quality
      Guarantee.

                	
                  28

                
	
                  8.4

                	
                  Solar
      Park Production Guarantee.

                	
                  31

                
	
                  8.5

                	
                  Bonds

                	
                  33

                
	 	 	 
	
                  9.

                	
                  FINAL
      ACCEPTANCE OF THE SOLAR PARK

                	
                  33

                
	 	 	 
	
                  10.

                	
                  OWNERSHIP
      OF THE FACILITIES AND TRANSFER OF RISK

                	
                  34

                
	 	 	 
	
                  11.

                	
                  INSURANCE

                	
                  34

                
	 	 	 
	
                  12.

                	
                  FORCE
      MAJEURE

                	
                  35

                
	 	 	 
	
                  13.

                	
                  SUSPENSION
      OF THE WORK

                	
                  37

                
	 	 	 
	
                  13.1

                	
                  Suspension
      by the Owner

                	
                  37

                
	
                  13.2

                	
                  Suspension
      by the Contractor

                	
                  39

                
	
                  13.3

                	
                  Suspension
      by Judicial or Governmental Authority

                	
                  39

                
	 	 	 
	
                  14.

                	
                  TERMINATION

                	
                  39

                
	 	 	 
	
                  14.1

                	
                  Termination
      for Causes Attributable to the Contractor

                	
                  40

                
	
                  14.2

                	
                  Termination
      by the Contractor

                	
                  44

                
	
                  14.3

                	
                  Termination
      due to Force
      Majeure

                	
                  46

                

        

         

         

        
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            2

            
              

            

          

          
            
            

          

        

         

        
          	
                  15.

                	
                  ASSIGNMENT
      AND SUBCONTRACTING

                	
                  46

                
	 	 	 
	
                  15.1

                	
                  Assignment

                	
                  46

                
	
                  15.2

                	
                  Subcontracting

                	
                  46

                
	 	 	 
	
                  16.

                	
                  LIABILITY
      AND DAMAGES

                	
                  47

                
	
                  17.

                	
                  OWNER
      FINANCING

                	
                  48

                
	
                  18.

                	
                  CONFIDENTIALITY

                	
                  49

                
	
                  19.

                	
                  NOTICES

                	
                  50

                
	
                  20

                	
                  LAW
      AND JURISDICTION

                	
                  51

                

        

      

    

     

     

    ANNEXES:

     

     

    ANNEX
1.-  ***

     

    ANNEX 2.-
SCOPE OF WORK. TECHNICAL SPECIFICATIONS

     

    ANNEX 3.-
IMPLEMENTATION SCHEDULE

     

    ANNEX 4.-
TEST PROTOCOLS

     

    ANNEX 5.-
MINIMUM INVENTORY AND SUPPLY OF SPARE PARTS

     

    ANNEX 6.-
MODULE DEGRADATION GUARANTEE

     

    ANNEX 7.-
FORMS OF SURETY BONDS

     

    ANNEX 8.-
AUTHORIZED EQUIPMENT AND PRINCIPAL AUTHORIZED MEDIUM-VOLTAGE
SUBCONTRACTOR

     

    ANNEX
9.-  FORM OF DIRECT AGREEMENT

     

    ANNEX
10.- MINIMUM P.R. AND PENALTIES FOR NON-COMPLIANCE WITH THE PRODUCTION
GUARANTEE

     

    ANNEX.
11- GUARANTEED VALUES

     

    ANNEX
12.- FORM OF LETTER TO BE SIGNED BY THE AGENT

     

    ANNEX
13.- SITE PLAN

    

    

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    In
Madrid, on the 6th day of
November, 2007.

     

    

    APPEARING
PARTIES

    

    

    
      	
              (A)

            	
              MORALAS RENOVABLES, S.L.
      (hereinafter, the “Owner”), with a
      registered office at calle Núñez de Balboa, 120, 7o, 28006, Madrid and
      having Tax Identification Code (CIF) number B-79136636 herein represented
      by Mr. Juan Carlos Sirviente Rodrigo, with identity card number 50708230S
      pursuant to the powers conferred upon him pursuant to a resolution of the
      board of directors of the company passed on the date
    hereof.

            

    

    

    
      	
              (B)

            	
              SUNPOWER ENERGY SYSTEMS SPAIN,
      S.L. (hereinafter, the “Contractor”), with a
      registered office in Madrid at calle Pradillo no 5, herein represented by
      Mr. Marco Antonio Northland, bearing U.S. Passport No. 047605878, in his
      capacity as attorney-in-fact of such entity pursuant to a public
      instrument executed before Mr. Ignacio Martínez Gil-Vich, a Madrid notary,
      on November 28, 2006, and recorded in his notarial protocol under No.
      4.551.

            

    

    

    

    RECITALS

    

    
      	
              (1)

            	
              The
      Owner is interested in promoting the installation and operation of a solar
      park in Manzanares (Ciudad Real), consisting of fifty (50) Solar
      Facilities having between 115 and 122 kWp of peak power and 100 kWe at the
      inverter.

            

    

    

    
      	
              (2)

            	
              The
      Contractor is dedicated to the construction and start-up of facilities of
      this type, and intends and has the capacity to construct the Solar Park in
      accordance with the specifications of this
  Contract.

            

    

    

    
      	
              (3)

            	
              The
      Owner will partially finance the payment of the Contract Price through
      financing to be made available to the Owner by one or more credit
      providers (the “Financial
      Institutions”).

            

    

    

    
      	
              (4)

            	
              ***

            

    

    

    
      	
              (5)

            	
              Now,
      therefore, the Parties mutually acknowledging the legal capacity required
      to enter into contract and bind themselves, agree to execute this
      "turnkey" construction contract (hereinafter, the “Contract”) in accordance
      with the following:

            

    

    

    

    CLAUSES

    

    
      	
              1.

            	
              DEFINITIONS

            

    

    

    

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    In this
Contract, the terms listed below shall have the meaning established in each
instance:

    

    
      	
              -

            	
              Final Start-Up Certificate or
      Final Start-Up: means the governmental certificate referred to in
      Sections 115 c) and 132 of Royal Decree 1.955/2000, of December 1, with
      respect to each of the Solar Facilities and the Electrical Infrastructure,
      which allows for the commencement of the commercial operation thereof,
      including, for the purposes of this Contract, obtaining the final
      registration of each of such Solar Facilities and Electrical
      Infrastructures with the Register of Power Facilities included within the
      Special Regime (Registro
      Administrativo de Instalaciones de Producción de Energía en Régimen
      Especial), pursuant to the provisions of Section 12 of Royal Decree
      661, which grants to the corresponding facilities the status of a
      production facility accepted under the special regime, in accordance with
      the terms of this contract.

            

    

    

    
      	
              -

            	
              Direct Agreement: the
      agreement executed among the Contractor, the Owner and the agent for the
      institutions providing financing to the Owner, for purposes of, among
      other things, making the payments contemplated in this Contract, pursuant
      to the provisions of Clause 17.

            

    

    

    
      	
              -

            	
              Scope of Work: the
      entirety of all services, supplies and work that the Contractor must
      provide under this Contract in accordance with the provisions of Clause
      2.2 and the specific details contained in Annex
      2.

            

    

    

    
      	
              -

            	
              Insurance Advisor: means
      Willis or any other insurance advisor appointed by the Financial
      Institutions in the context of the financing of the Solar
      Park.

            

    

    

    
      	
              -

            	
              Legal Advisor: means
      Gómez-Acebo & Pombo, S.L. Ramón & Cajal Attorneys or any other
      legal advisor that the Financial Institutions may designate in the context
      of the financing of the Solar Park

            

    

    

    
      	
              -

            	
              Technical Advisor: means
      Sylcom Solar or any other technical advisor appointed by the Financial
      Institutions in the context of the financing of the Solar
      Park.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Performance Bond: means
      the bond payable on demand to be delivered by the Contractor in accordance
      with the provisions of Clause 8.5 to guarantee the performance of its
      contractual obligations and which shall be effective as from delivery
      thereof to the Owner in accordance with the provisions of this contract
      until the execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Guarantee Bond: means
      each of the bonds payable on demand to be delivered by the Contractor in
      accordance with the provisions of Clause 8.5 to guarantee the performance
      of its contractual obligations during the Guarantee Period, which shall be
      effective as from the execution of the Solar Park Provisional Acceptance
      Certificate through the execution of the Final Acceptance
      Certificate.

            

    

    
    

     

     

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              -

            	
              Final Acceptance Certificate
      (FAC): means the certificate that shall be executed by the Parties
      at the end of the Guarantee Period to attest to the final acceptance of
      the Solar Park by the Owner.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Solar Park Provisional
      Acceptance Certificate (Park PAC): means the certificate that shall
      be executed by the Parties concurrently with the execution of the
      Provisional Acceptance Certificate for the last Solar Facility forming a
      part of the Solar Park, to evidence the proper operation of the Solar Park
      as a result of the Overall Test of all Solar Facilities and the Electrical
      Infrastructure, as well as the Contractor’s compliance with the
      obligations set forth in this Contract, without prejudice to the
      provisions established for the Guarantee
Period.

            

    

    

    
      	
              -

            	
              Solar Facility Provisional
      Acceptance Certificate (Facility PAC): means the certificate that
      shall be executed by the Parties to evidence the proper operation of the
      equipment as a result of the Performance Tests for each of the Solar
      Facilities (including the Electrical Infrastructure associated with each
      Solar Facility) and the Contractor’s compliance with the obligations set
      forth in this Contract, without prejudice to the provisions established
      for the Guarantee Period.  In order to issue
      a  Provisional Acceptance Certificate for a Solar Facility,
      proper operation of the General Electrical Infrastructure in order to meet
      the installed capacity of the Solar Facilities in operation at such time
      must also be verified.

            

    

    

    
      	
              -

            	
              Contractor: means
      SUNPOWER ENERGY SYSTEMS SPAIN, S.L. and any other
      company that may succeed it in its obligations in accordance with the
      provisions of this Contract.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Contract: means this
      contract together with the Annexes hereto. In the event of conflict
      between the body of this Contract and one or more of the Annexes, the body
      of this Contract shall prevail.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Maintenance Agreement:
      means the Maintenance Agreement entered into by the Contractor and
      the Owner on even date herewith, providing for the assumption by the
      Contractor of the maintenance work for the Solar Park upon execution of
      the Solar Park Provisional Acceptance
  Certificate.

            

    

    

    
      	
              -

            	
              Systemic Defect: is an
      operational failure of the Solar Facilities of the Solar Park occurring
      during the Production Guarantee Period that (i) is not caused by
      non-conforming performance of the Work by the Contractor under this
      Contract, the Technical Specifications, the Construction Model or the
      regulations applicable to the Work (in accordance with the terms of this
      Contract), and (ii) that

            

    

    

    
      	
               
      

            	
              §

            	
              is
      the same failure or is a failure that affects, at least: 0.5% of the solar
      modules, 5 or more inverters or their corresponding peripheral systems, 5
      or more trackers, or 2 or more transformers (including breakers and
      switches) supplied by the same manufacturer for the Solar Park;
      or

            

    

    

    

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              §

            	
              the
      relevant supplier or well-known independent third party in the solar
      industry reports that at least 1% of worldwide production of the
      corresponding model of solar module, inverter, tracker or transformer is
      affected by the same operational failure and advises replacement thereof
      (in which event the Owner must receive proof in the form of delivery of a
      document signed by the  manufacturer or of a report from an
      independent third party which confirms the existence of said systemic
      failure with reference to the model and series of the affected
      equipment).

            

    

    

    
      	
              -

            	
              Business Day: means any
      day other than a bank holiday in Madrid and Albacete, with the express
      provision that Saturday is not a Business
Day.

            

    

    

    
      	
              -

            	
              Financial Institutions:
      has the meaning set forth in the Recital
(3).

            

    

    

    
      	
              -

            	
              Site: means parcel 53,
      polygon 10, in the municipality of Manzanares (Ciudad Real), as identified
      in Annex 13.

            

    

    

    
      	
              -

            	
              Authorized Equipment:
      means the list of brands and models of the principal equipment or elements
      that will make up the Solar Facilities and the Electrical Infrastructures
      described in Annex
      8 hereto.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Technical Specifications:
      means the technical conditions for executing the Work that were
      prepared by the Contractor and delivered to the Owner, and that make up
      Annex
      2.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Delivery Deadline: means
      July 15, 2008.

            

    

    

    
      	
              -

            	
              ***

            

    

    

    
      	
              -

            	
              ***

            

    

    

    
      	
              -

            	
              Payment Milestones:
      means the milestones for the payment of the Contract Price, as described
      in Clause 4.2 below.

            

    

     

    
      	
              -

            	
              Specific Electrical
      Infrastructure: means the entirety of
      the electrical elements permitting the evacuation to the distribution grid
      of the electrical power produced by each of the Solar Facilities,
      including from the Solar Facilities to the specific transformer center for
      such Solar Facility.

            

    

     

    
      	
              -

            	
              General Electrical
      Infrastructure: means the entirety of
      the electrical elements permitting the connection of each of the Solar
      Facilities, from the specific transformer center, in order to permit the
      evacuation of electrical power generated by each Solar Facility to the
      distribution grid, including the Evacuation Line, the distribution and
      sectioning center (centro de reparto y
      seccionamiento) and supplemental elements of supervision,
      monitoring and data collection.

            

    

     

     

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              -

            	
              Electrical
      Infrastructure: collectively, the General Electrical
      Infrastructures and the Specific Electrical
    Infrastructures.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Solar Facility: means
      the entirety of the electromechanical elements that allow for the
      generation of low voltage (“LV”) electrical power, including from the
      solar modules themselves, solar trackers, and inverters, to the LV meter,
      with a peak unit capacity of between 115 and 122
  kWp.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Evacuation Line: the
      15kV output electrical evacuation line of the distribution center of the
      General Electrical Infrastructure, necessary to connect such
      Infrastructures to the substation of the power distribution company (Unión
      fenosa) of Herrera de la Mancha, excluding works to be carried out inside
      the substation.

            

    

    

    
      	
              -

            	
              Change Order: means a
      document signed by the Contractor and the Owner pursuant to which a change
      is agreed upon in the Scope of Work, the Contract Price or the Execution
      Schedule, or any other modification, as provided in this
      Contract.   

            

    

    

    
      	
              -

            	
              Solar Park: means the
      entirety of the fifty (50) Solar Facilities having between 115 and 122 kWp
      of peak capacity and 100 kWe at the inverter, that must reach a total peak
      capacity of 5.925 MWp, located at the Site, including the Electrical
      Infrastructure and any other facilities that, in accordance with the terms
      of this Contract, may be necessary for its
  Start-Up.

            

    

    

    
      	
              -

            	
              Guarantee Period: means
      the period between the signing of the Provisional Acceptance Certificate
      for the first Solar Facility until the date *** (***) years following the
      execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    

    
      	
              -

            	
              Production Guarantee Period:
      means the period between Start-up of the Solar Park until the date
      *** following the execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    

    
      	
              -

            	
              Contract Price: The
      price payable by the Owner to the Contractor for the performance of the
      obligations contained in this Contract, the amount of which is set forth
      in Clause 4 of the Contract.  For purposes of this Contract, the
      price corresponding to an individual Solar Facility shall be the amount
      obtained by dividing the total Contract Price by the fifty (50) Solar
      Facilities.

            

    

    

    
      	
              -

            	
              Implementation Schedule:
      means the schedule for the implementation of the Scope of Work,
      which is attached as Annex
      3 to this Contract.

            

    

     

    
      	
              -

            	
              Owner:  means
      MORALAS RENOVABLES, S.L., as well as any
      company subrogating to its contractual position in accordance with the
      provisions of this Contract.

            

    

    

    
      	
              -

            	
              Overall Test: means the
      test described in Annex
      4, to be performed as a prerequisite to the execution of the Solar
      Park Provisional Acceptance Certificate to verify the proper operation of
      all Solar Facilities and the Electrical Infrastructure. The Overall Test
      will definitively verify the proper operation of the General Electrical
      Infrastructure to absorb the power discharged by all Solar
      Facilities.

            

    

    

    

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              -

            	
              Performance Tests: means
      the tests described in Annex
      4, to be performed as a prerequisite to the execution of each Solar
      Facility Provisional Acceptance Certificate to verify the proper operation
      of the corresponding Solar Facility and Electrical Infrastructures.
      Pursuant to the provisions of Clause 5.2(1), each Performance Test will be
      performed on a minimum of ten (10) Solar Facilities (with their
      corresponding Electrical
Infrastructures).

            

    

    

    
      	
              -

            	
              Production Tests: means
      the tests that will be performed at the end of the Production Guarantee
      Period in order to determine compliance with the Production Guarantee set
      forth in Clause 8.4, following the protocols set forth in Annex
      4.

            

    

    

    
      	
              -

            	
              Start-up: means, with
      reference to a particular Solar Facility and/or Electrical Infrastructure,
      the point when all of the work required by this Contract has been
      completed and all Performance Tests have been passed in accordance with
      this Contract and the Annexes hereto, the Provisional Acceptance
      Certificate has been executed and the Owner has received the corresponding
      Final Start-up Certificate (as confirmed by the Legal Advisor). Reference
      to Start-up of a Solar Park shall be understood to mean the point when all
      Solar Facilities and corresponding Electrical Infrastructures have passed
      the Overall Tests and comply with the above referenced
      requirements.

            

    

    

    
      	
              -

            	
              RD 661: Royal Decree No.
      661/2007, of May 25, which regulates activities involving the production
      of power under special regime.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Subcontractors: means
      the subcontractors with which the Contractor subcontracts all or part of
      the works to be executed under this
Contract.

            

    

    

    
      	
              -

            	
              Work: means the work and
      supplies to be provided by the Contractor pursuant to the provisions of
      this Contract.

            

    

    

    
      	
              2.

            	
              PURPOSE
      AND SCOPE OF WORK

            

    

    

    
      	
              2.1

            	
              Purpose
      of the Contract

            

    

    

    
      	 	
              The
      purpose of this Contract is the construction, start-up and delivery of the
      Solar Park to the Owner pursuant to the terms set forth in this Contract
      such that, upon issuance of the Final Start-up Certificate, the production
      of power and sale thereof to the electric distribution grid may commence,
      in accordance with applicable law and the Technical
      Specifications.

            

    

    

    

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    This
Contract is executed as a "turnkey" contract, and the Contractor is hereby
obligated to deliver to the Owner the design, construction and Start-up of the
Solar Park for the fixed price and within the fixed time periods established
herein, subject to the other terms and conditions set forth in this
Contract.

    

    
      	
              2.2

            	
              Scope
      of Work

            

    

    

    
      	
              (1)

            	
              According
      to the terms and conditions of this Contract, the Contractor shall carry
      out and shall be responsible for all of the equipment, services, supplies
      and work comprising the Scope of Work. The Scope of Work includes each of
      the following concepts, as well as all acts that, even if not expressly
      mentioned in this Contract or in Annex
      2, are necessary for the proper operation, performance and
      commercial exploitation of the Solar Park, in each case in accordance with
      the customary usage and practices in the industry for a project having
      these characteristics, this Contract, the Technical Specifications, and
      applicable law (without prejudice to the provisions of Clause
      2.4(4)):

            

    

    

    
      	
               
      

            	
              §

            	
              Design,
      engineering (basic and detailed) and required technical
      schedules.

            

    

    

    
      	
               
      

            	
              §

            	
              Execution
      of all aspects of the Scope of Work and the supply of all materials,
      elements and equipment set forth in Annex
      2, and the supply of all materials necessary and appropriate to
      properly carry out the Scope of
Work.

            

    

    

    
      	
               
      

            	
              §

            	
              Performance
      of inspections, inventory of materials, performance controls, tests and
      other analyses required under applicable law and in accordance with the
      technical specifications and this
contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Transportation
      to the Site of all materials, equipment, utilities, spare parts,
      consumables and machinery for which the Contractor is responsible under
      the Contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Direct
      and indirect labor necessary to carry out the Scope of Work and all costs
      and social charges associated with such
labor.

            

    

    

    
      	
               
      

            	
              §

            	
              Demolition
      and dismantling of the provisional facilities not required by the Owner
      and conditioning and cleaning of the Site following issuance of the Solar
      Park Provisional Acceptance
Certificate.

            

    

    

    
      	
               
      

            	
              §

            	
              Maintenance,
      protection, security, custody and conservation of the equipment installed
      or stored at the Site up to the signing of the Solar Park Provisional
      Acceptance Certificate.

            

    

    

    
      	
               
      

            	
              §

            	
              Preparation
      and delivery to the Owner of all documentation within the scope of this
      Contract, sufficiently in advance for the utilization thereof by the
      Owner. In particular, the delivery of the documentation and manuals set
      forth in Annex
      2.

            

    

    

    

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              §

            	
              ***

            

    

    

    
      	
               
      

            	
              §

            	
              Training
      of the Owner’s personnel in the operation and maintenance of the materials
      and equipment acquired in accordance with the terms of Clause 6.7 of this
      Contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Construction
      of all necessary auxiliary facilities, their maintenance, cleaning and
      security during the performance of the Work, including that performed in
      compliance with the regulations for the Prevention of Occupational Risks
      and the Social Security and Health Plan (Prevención de Riesgos
      Laborales y el Plan de Seguridad y Salud); as well as the
      demolition or dismantling of any temporary facilities not required by the
      Owner and the conditioning and clearing of the Site following the issuance
      of the Solar Park Provisional Acceptance
  Certificate.

            

    

    

    
      	
               
      

            	
              §

            	
              Supply
      of spare parts pursuant to the provisions of Clause
  6.3.

            

    

    

    
      	
               
      

            	
              §

            	
              Provision
      of material and human resources required to comply with the regulations
      for the Prevention of Occupational Risks and the Social Security and
      Health Plan, as well as the creation of the Social Security and Health
      Plan.

            

    

    

    
      	
              2.3

            	
              Exclusions

            

    

    

     

    The Scope
of Work for this Contract shall not include amounts associated with the purchase
or lease of land or easements, or the payment of concessions or any other
amounts owed in respect of surface rights to the Site where the Solar Park will
be built. Further, it does not include the services associated with the
obligations assumed by the Owner in Clause 7, the selection and hiring of
personnel by the Owner or the costs and liabilities arising from the selection
and hiring of third parties by the Owner for performance of the work consisting
of safety and health coordination, or the supervision, external inspection,
security, and quality control of the Contractor’s work, including the Technical
Advisor.

     

    

    
      	
              2.4

            	
              Changes
      in the Scope

            

    

    

    
      	
              (1)

            	
              Under
      no circumstances may the Parties make any changes to the Scope of Work
      contemplated by this Contract (of any kind, whether for expansions,
      reductions or changes to any portion of the work and/or the items supplied
      under this Contract), unless a Change Order has previously been
      signed.

            

    

    

    
      	
              (2)

            	
              At
      any time prior to Provisional Acceptance, the Owner may propose a change
      to the Scope of Work by sending the Contractor a notice describing the
      nature and scope of the change. Upon receipt of such notice, the
      Contractor must send to the Owner, within a maximum period of ten (10)
      Business Days, a communication that includes a complete proposal for the
      changes in the Contract Price, deadlines and form of payment, or any other
      changes that may be necessary in connection with the changes proposed by
      the Owner. This communication shall also include a reasoned explanation of
      the grounds and/or criteria used for the calculation of the new Contract
      Price and/or deadline. However, the Contractor recognizes that in
      accordance with the Direct Agreement, the approval of the Financial
      Institutions is an essential requirement for the validity of the
      changes.

            

    

    

    

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          11

          
            

          

        

        
           

        

      

    

    

    
      	
              (3)

            	
              Without
      prejudice to the terms of the Direct Agreement, the Contractor may, at any
      time during the performance of the Contract, propose changes to the Scope
      of Work that it deems necessary or appropriate to improve the quality,
      efficiency or safety of the Solar Park or the facilities or supplies that
      make up the Solar Park. The Owner, at its discretion, may approve or
      reject the changes proposed by the Contractor.  The Parties will
      execute a Change Order in the event that the modifications are approved by
      the Owner.

            

    

    

    
      	
              (4)

            	
              In
      addition, upon the entry into force, promulgation, derogation or change of
      any mandatory legal provision after the execution of this Contract that
      affects the Work, the Parties shall sign a document governing the changes
      that must be made to the purpose of this
  Contract.

            

    

    

    
      	
              (5)

            	
              The
      Owner and the Contractor shall negotiate in good faith the effects on the
      deadlines agreed to under this Contract that might occur as a result of
      the changes requested within the context of the provisions of this Clause.
      In any event, the prices applicable to any change in the Scope of Work
      shall consist of the costs of the additional work or supplies arising
      therefrom (reasonably justified to the Owner) plus ***% as the
      Contractor’s margin.

            

    

    

    
      	
              3.

            	
              COMMENCEMENT
      OF WORK

            

    

    

    
      	
              (1)

            	
              The
      Parties agree that the payment by Owner of the amount set forth in Clause
      4.2(i) and the delivery by the Contractor of the Performance Bond and the
      Corporate Guarantee are subject only to the delivery by the Owner to the
      Contractor of a letter signed by the Financial Institutions in the form of
      Annex
      12 confirming the availability of the financing. The payment by the
      Owner of the amount in accordance with Clause 4.2(i) and the delivery of
      the Performance Bond and the Corporate Guarantee by the Contractor must be
      made concurrently on a date between the sixth (6th)
      and ninth (9th)
      Business Day following the date the Owner notifies the Contractor that the
      agreed conditions are satisfied. The date the Owner pays the amount
      pursuant to Clause 4.2(i) to the Contractor and the Contractor delivers
      the Performance Bond and the Corporate Guarantee shall be hereinafter
      referred to as the “Condition Satisfaction
      Date.”

            

    

    

    

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          12

          
            

          

        

        
           

        

      

    

    

    
      	
              (2)

            	
              By
      executing this Contract, the Owner hereby represents to the Contractor as
      follows:

            

    

    

    
      	
               
      

            	
              (i)

            	
              It
      has obtained all authorizations and licenses necessary for the
      commencement of construction for the Solar Park, except those that are
      intrinsic to the construction itself and that are the responsibility of
      the Contractor in accordance with the terms of Clause 6.6 (having
      delivered to the Contractor a copy of those that are the responsibility of
      the Owner). For purposes of clarification, the Owner has obtained the
      municipal licenses for the work and related activities (to the extent
      necessary), as well as the administrative authorization, the approval of
      the Electrical Infrastructures Plan and the interconnection point of the
      Solar Facilities and has delivered to the Contractor a confirmation issued
      by the Council for the Environmental and Rural Development (Consejería de Medio Ambiente y
      Desarrollo Rural) of Castilla La Mancha that an Environmental
      Impact Statement is not required with respect to any of the Solar
      Facilities of the Solar Park; and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      Site is fully accessible and available for the commencement of
      Work.

            

    

    

    
      	
              (3)

            	
              In
      the event that (a)
      the letter relating the financing described in subsection (1) has not been
      delivered by November 23, 2007, or (b) the Condition
      Satisfaction Date has not occurred by the tenth Business Day following the
      date the Owner delivered such letter to the Contractor, the Contractor and
      the Owner may terminate the Contract by delivery to the other Party of a
      notice setting forth its desire to terminate the Contract, and the Parties
      shall be released from all obligations assumed with respect
      thereto.  The foregoing shall be without prejudice to the
      purchase orders or requests that the Parties, or companies belonging to
      their groups, shall have already made or agreed to, as of or following the
      execution of this Contract. Such purchase orders or requests shall
      continue in force and effect in accordance with their terms unless the
      Owner elects to cancel them, in which case the Owner shall pay the
      Contractor any cancellation costs that the Contractor or any company in
      its group must pay to any distributor or manufacturer with respect to such
      orders.

            

    

    

    
      	
               
      

            	
              However,
      the Contractor may not terminate the Contract if the Owner has confirmed
      its intention and ability to make the payment described in Clause 4.2(i)
      and the Condition Satisfaction Date has not have occurred due to the
      Contractor’s failure to deliver the Performance Bond and the Corporate
      Guarantee.

            

    

    

    
      	
              (4)

            	
              Subject
      to paragraph three of this section, the Contractor represents that, prior
      to the execution of this Contract, it has studied the subterrain,
      surroundings and access thereto.

            

    

    

    Further,
subject to paragraph three of this section, The Contractor represents that the
Site is adequate and sufficient for the performance of the Work, and that the
Contractor is aware of and accepts all the risks and contingencies of the Site
that may affect the performance of the Work, including, without limitation,
climate conditions (including wind, snow, frost, rain, etc.), hydrographic,
hydrological, geotechnical and seismic conditions, any toxic waste or
archeological sites that may appear at the Site and in general any other
physical, natural or artificial circumstances of the Site and the subsoil
thereof. Consequently, the Contractor waives any claim to any supplement to the
price of the Contract for an increase in work, delay therein, or additional cost
of any kind, and any claim to any extension in the Delivery Deadline or the
intermediate deadlines for the Work arising from the Site conditions referred to
in this Clause.

    

    

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              Representations
      contained in the previous paragraphs regarding the adequation of the Site
      for the performance of the Work shall be subject to the Contractor
      receiving the definitive geotechnical report on the Site in the five (5)
      days following signature of this Contract. Upon receipt of such report by
      the Contractor, the Parties shall sign a document declaring the Site
      adequate or, if applicable, agreeing the necessary amendments to the Scope
      of Work and/or the Contract Price on the basis of contingencies arisen
      from the report. As from the signature of such document, representations
      contained in this section shall be fully valid and binding for the
      Contractor. Notwithstanding the above, the Contractor accepts that, in
      case the geotechnical report concludes that the Site conditions are
      equivalent to those of the report for the site where is going to be built
      a solar park according to an agreement signed on the date hereof between
      the Contractor and Naturener Solar Tinajeros, S.L., the Site will be
      deemed adequate, the Contractor not being entitled to claim any amendment
      to the Scope of Work and/or Contract
Price.

            

    

    

    For the
sake of clarity, the Parties expressly agree that the discovery of archeological
ruins at the Site shall be considered an event of Force Majeure in accordance
with the terms of the Contract, with application of the provisions of Clause
12.

    

    
      	
              4.

            	
              PRICE
      AND FORM OF PAYMENT

            

    

    

    
      	
              4.1

            	
              Contract
      Price

            

    

    

    
      	
              (1)

            	
              The
      Contract Price payable by the Owner to the Contractor in consideration for
      the works to be performed by Contractor under this Contract shall be ***
      Euros. This amount shall be increased by an amount corresponding to Value
      Added Tax (VAT) pursuant to applicable law at any given time. The
      Contractor hereby acknowledges and agrees that the Contract Price is a
      lump-sum, fixed, and final price, and is not subject to any change or
      revision whatsoever on the basis of any changes in the prices of labor,
      materials, equipment, exchange rates or any other similar items, including
      a change in any taxes levied on the scope of the
  work.

            

    

    

    
      	
              (2)

            	
              The
      Contract Price includes all the costs and expenses associated with the
      Contractor’s performance of work under the Contract, including those
      specifically set forth in the Scope of Work. The Contract Price shall be
      deemed to include, by way of
example:

            

    

    

    

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              §

            	
              taxes,
      fees, industrial- and intellectual-property royalties on the equipment
      supplied, Social Security and other encumbrances upon the supplied
      equipment and materials in their country of origin or destination,
      including, if applicable, the rights of free circulation in the European
      Union and any other tax with respect to the importation of the Equipment
      and the performance of the Work, except for the VAT on the actual Contract
      Price. For purposes of clarification, the Price does not include
      legalization fees or costs for permits and authorizations, which are the
      responsibility of the Owner.

            

    

    

    
      	
               
      

            	
              §

            	
              payroll
      costs and the cost of equipment required for the Contractor’s performance
      of the Work or to ensure the protection, security and proper performance
      thereof.

            

    

    

    
      	
               
      

            	
              §

            	
              the
      cost of any insurance that must be taken out by the Contractor pursuant to
      Clause 11.

            

    

    

    However,
the Parties agree that the prices of the perimeter fences and the monitoring
system (Scada) of the tracker hubs (cajas de concentración de los
seguidores) are not included in the Contract Price and therefore, the
inclusion thereof in the Scope of Work shall be conditioned upon the
Contractor’s delivery to Owner, prior to November 23, 2007, of an offer to
perform such works and the issuance of a Change Order agreeing to a new Contract
Price that includes such items.

    

    Likewise,
the Owner recognizes that the Technical Specifications contained in Annex 2 are
subject to the prior verification by the Contractor within the seven (7)
Business Days following the signature of this Contract. In case such Technical
Specifications contained essential differences with regard to the technical
conditions contained in the technical specifications attached as Annex 2 to the
construction agreement entered into between the Contractor and Naturener Solar
Tinajeros, S.L. on the date hereof, the Parties shall mutually agree the
amendments (including amendments to the Contract Price) arising from such
differences before November 23, 2007. Notwithstanding the above, the Contractor
recognizes that the Owner shall be entitled to ask for the execution of Work
according to the Contractor’s offer, reserving the right to discuss later the
essential character, the origin or the contents of the amendments proposed by
the Contractor following the procedure set forth in Clause 20.

    

    
      	
              (3)

            	
              In
      the event of changes in the Scope of Work agreed to pursuant to the
      provisions of this Contract, the price agreed to in the corresponding
      Change Order shall apply.

            

    

    

    
      	
              (4)

            	
              Without
      prejudice to the foregoing, in consideration for the maintenance and
      security tasks to be performed by the Contractor prior to the execution of
      the Solar Park Provisional Acceptance Certificate, the Owner shall pay to
      the Contractor (in addition to the Contract Price), the portion of the
      price contemplated in the Maintenance Agreement that is equivalent to the
      percentage representing the Solar Facilities that have obtained a
      Provisional Acceptance Certificate with respect to all Solar Facilities
      contemplated by this Contract.

            

    

    

    

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              4.2

            	
              Payment
      Milestones

            

    

    

    
      	
               
      

            	
              The
      Contract Price shall be paid by the Owner to the Contractor pursuant to
      the payment schedule set forth below (each of the milestones set forth
      below shall be deemed a “Payment
      Milestone”):

            

    

    

    
      	
               
      

            	
              (i)

            	
              On
      the Condition Satisfaction Date, an amount equal to ***% percent of the
      Contract Price, i.e., *** euros, upon delivery of the Performance Bond by
      the Contractor.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Based
      on the monthly progress of the civil works involving earth moving,
      leveling and foundation laying, measured as 100 kWe Solar Facilities whose
      foundations are completed, the Owner will pay up to a maximum of ***
      percent (***%) of the Contract Price, i.e., *** euros, upon presentation
      of the respective invoices by the
Contractor.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Upon
      each delivery to the Site of the module supports, inverters and trackers
      of each Solar Facility and presentation of the corresponding invoices not
      earlier than two (2) months prior to the dates indicated in the
      Implementation Schedule, the Owner shall pay up to a maximum of *** (***%)
      percent of the Contract Price corresponding to such Solar
      Facilities.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Upon
      each delivery of the solar modules of each Solar Facility to the Site and
      upon presentation of the corresponding invoices not earlier than the dates
      indicated in the Implementation Schedule, the Owner shall pay up to a
      maximum of *** (***%) percent of the Contract Price corresponding to such
      Solar Facilities.

            

    

    

    
      	
               
      

            	
              (v)

            	
              Based
      on the monthly progress of the mechanical assembly of the module supports,
      solar trackers and the modules mounted thereon, as well as the
      installation of the inverters and the transformer center, measured as
      Solar Facilities of 100 kWe whose facilities up to the transformer center
      have been completed, the Owner will pay up to a maximum of *** (***%)
      percent of the Contract Price, upon presentation of the respective
      invoices.

            

    

    

    
      	
               
      

            	
              (vi)

            	
              Upon
      the execution of each Provisional Acceptance Certificate for a Facility,
      the Owner shall pay *** (***%) percent of the Contract Price corresponding
      to such Solar Facility (together with the remaining portion of the
      Contract Price, if any, that was not previously paid and that corresponds
      to Work completed by the Contractor under this Contract in respect of such
      Solar Facility). The last Solar Facility payment shall be made
      concurrently with the execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    

    

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              4.3

            	
              Invoicing
      System and Form of Payment

            

    

    

    
      	
              (1)

            	
              Once
      the Contractor deems that a Payment Milestone has been achieved, the
      Contractor shall give written notice thereof to the Owner and the
      Technical Advisor, attaching thereto the invoice and any documentation
      that may be necessary to demonstrate achievement of the corresponding
      Payment Milestone (including, for this purpose, all of the documentation
      that must be furnished by the Contractor to the Owner at any time,
      pursuant to the provisions of Annex
      2).

            

    

    

    
      	
              (2)

            	
              Within
      fifteen (15) Business Days following receipt of the above-mentioned
      notice, the Owner and the Technical Advisor shall confirm the achievement
      of the corresponding Payment Milestone. Within such period, the Owner and
      the Technical Advisor shall communicate in writing to the Contractor:
      (i) their
      agreement that the corresponding Payment Milestone has been achieved, in
      which case the Owner and the Technical Advisor shall provide documentary
      confirmation by approving the corresponding invoice, or (ii) that the Payment
      Milestone has not been fully achieved, in which case the Owner and/or the
      Technical Advisor must specify in  writing to the Contractor a
      detailed and reasoned explanation of the work pending performance in order
      for the Payment Milestone to be deemed to have been
      achieved.  In the event that the Owner and/or the Technical
      Advisor fail to respond to the Contractor within the above-mentioned
      period of fifteen (15) Business Days, due solely to the failure of the
      Contractor to provide all documentation required to verify achievement of
      the Payment Milestone, the Owner and the Technical Advisor agree to
      request the same within the above period of fifteen (15) Business Days.
      The Owner and the Technical Advisor will be allotted another ten (10)
      Business Days to issue their response, counting from the date of receipt
      of all requested documentation.

            

    

    

    
      	
              (3)

            	
              If
      the Owner and/or the Technical Advisor do not agree that a Payment
      Milestone has been achieved, the Owner shall be entitled to return the
      corresponding invoice until the Contractor has completed the work in
      accordance with the provisions of this Contract. However, if the Parties
      agree that the disagreement involves only part of the work included in the
      Payment Milestone, the Owner shall pay the invoice amounts corresponding
      to the work not affected by the dispute, with the rest remaining subject
      to full performance and delivery by the Contractor in accordance with the
      terms of this Contract.

            

    

    

     

    
      	
              (4)

            	
              If,
      following the period referred to in subsection (2) above, the Owner and/or
      the Technical Advisor have not responded, the Contractor may send a demand
      notice to the Owner and the Technical Advisor communicating such fact and
      allowing an additional period of five (5) Business Days for confirmation
      of their agreement or disagreement as to the achievement of the respective
      Payment Milestone. If, upon expiration of such period, the Owner and/or
      the Technical Advisor still have not responded, achievement of the Payment
      Milestone shall be deemed accepted by the Owner and the Technical
      Advisor.

            

    

     

    

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              (5)

            	
              Under
      no circumstances shall the Owner’s or the Technical Advisor’s agreement to
      a Payment Milestone imply acceptance of the Work associated therewith,
      which acceptance shall in any event remain conditioned upon passing the
      Performance Tests and executing the respective Provisional Acceptance
      Certificate and, ultimately, the Final Acceptance
    Certificate.

            

    

    

    
      	
              (6)

            	
              Payments
      shall be made by the Owner to the Contractor via bank transfer to the bank
      account designated by the Contractor within *** Business Days following
      the date on which the Owner accepted the corresponding Payment Milestone
      (or on the date on which the Payment Milestone was deemed accepted by the
      Owner, in accordance with subsection (4) above). On an exceptional basis,
      the payment corresponding to the first Payment Milestone shall be paid by
      the Owner on the Condition Satisfaction Date (with respect to such
      payment, approval of a Payment Milestone by the Contractor and the Owner
      pursuant to the above provisions is not required)
  .

            

    

    

    
      	
              5.

            	
              IMPLEMENTATION
      SCHEDULE. TESTS AND PROVISIONAL
ACCEPTANCE

            

    

    

    
      	
               
      

            	
              5.1

            	
              Implementation
      Schedule. Changes in the Deadline

            

    

    

    
      	
              (1)

            	
              The
      Contractor hereby undertakes to perform the Work in accordance with the
      Implementation Schedule attached hereto as Annex
      3, such that the Solar Park shall have all technical attributes
      required for issuance of the Final Acceptance Certificate (and the same
      has been requested in accordance with Clause 2.4) no later than the
      Delivery Deadline.

            

    

    

    
      	
              (2)

            	
              The
      dates for performance specified in the Implementation Schedule and, in
      particular, the Delivery Deadline, are fixed and final, and may not be
      postponed, and the performance deadlines may not be extended, except under
      the following circumstances:

            

    

    

    
      	
               
      

            	
              (i)

            	
              due
      to agreed-upon changes in accordance with the provisions of Clause 2.4,
      provided that such changes include an extension of the
      deadlines;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              due
      to a breach by the Owner giving rise to a delay in the Work (including,
      specifically, delays in procuring authorizations and licenses for which it
      is responsible), provided that such breaches are not attributable to
      actions, omissions or breaches by the
  Contractor;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              suspension
      of the Work in accordance with the provisions of Clause 13, except in the
      event of suspensions attributable to the Contractor;
  or

            

    

    

    

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          18

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              (iv)

            	
              the
      occurrence of an event of Force Majeure that
      reasonably justifies an extension of the deadlines established in the
      Implementation Schedule.

            

    

    

    
      	
              (3)

            	
              The
      Contractor must inform the Owner of the alleged facts or causes, in
      writing and within a maximum period of ten (10) Business Days after the
      Contractor becomes aware thereof, and the communication must be
      accompanied by all available information and data on such date that
      substantiate such facts and the consequences thereof on the Work, the
      extension (if such extension can be determined) proposed by the
      Contractor, and a detailed explanation of the measures adopted to mitigate
      the consequences thereof.

            

    

    

    The Owner
may request any additional information that it deems reasonably necessary to
analyze the request and shall make a decision thereon as soon as possible, but
in any event no later than fifteen (15) days after receipt of such communication
from the Contractor or receipt of the documentation required to evaluate the
circumstances, if later.  If the Owner accepts the extension proposed
by the Contractor, the Parties shall issue a Change Order confirming the changes
to the Implementation Schedule.

    

    
      	
               
      

            	
              5.2

            	
              Performance
      Tests and Provisional Acceptance

            

    

    

    
      	
              (1)

            	
              Upon
      completion of the construction of a group of at least ten (10) Solar
      Facilities, or of the Solar Park, the Contractor shall notify the Owner so
      that, within a maximum period of seven (7) Business Days, the Performance
      Tests or the Overall Test may be commenced . All Tests shall be conducted
      in accordance with the Test procedures and protocols attached hereto as
      Annex
      4.  The Contractor agrees that the Performance Tests and
      the procedures set forth in this Clause shall begin only when at least ten
      (10) Solar Facilities are ready for provisional
  acceptance.

            

    

    

    
      	
              (2)

            	
              Once
      the Owner and the Technical Advisor have verified that the Performance
      Tests (or, if applicable, the Overall Test) have been passed in accordance
      with the standards set forth in this Contract and that the Owner has
      received all documentation set forth in the Scope of Work, the Contractor
      and the Owner shall execute the corresponding Provisional Acceptance
      Certificate for the Solar Facilities delivered or the Provisional
      Acceptance Certificate for the Solar Park, as applicable, provided that
      the following conditions have been
met:

            

    

    

    
      	
               
      

            	
              a)

            	
              The
      Work corresponding to the applicable Solar Facilities, or, if applicable,
      the Solar Park, has been satisfactorily
  completed.

            

    

     

    However,
if the Performance Tests or the Overall Test have been passed and the remaining
conditions specified in this Clause have been met with certain punch list items
still pending, the Owner shall sign the corresponding Provisional Acceptance
Certificate, acknowledging, in an attached document, the existence of the punch
list items and setting a period of thirty (30) Business Days for completion
thereof, or another longer period of time agreed by the Parties. If such punch
list items have not been completed by the Contractor at the conclusion of the
specified time period, the Owner may, at its discretion, (i) demand the
completion thereof, or (ii) perform such work itself or through third
parties, deducting the direct costs of such punch list items from what is owed
to the Contractor, or enforce of the bonds delivered pursuant to this
Contract.

     

    

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    The term
“punch list items” shall be understood to refer to those tasks pending execution
by the Contractor for which the work pertaining to such Work has been completed
within the time periods specified in this Contract that do not affect the
operation, production or output of the Solar Facilities or the Electrical
Infrastructure.

     

    

    
      	
               
      

            	
              b)

            	
              All
      of the documentation that the Contractor must submit in accordance with
      the provisions of Annex
      2 has been submitted to the
Owner;

            

    

    

    
      	
               
      

            	
              c)

            	
              The
      spare parts specified in Clause 6.3 have been made available to the
      Owner;

            

    

    

    
      	
               
      

            	
              d)

            	
              With
      respect to the Solar Park Provisional Acceptance Certificate, the
      Contractor has delivered to the Owner the Guarantee Bond in the amount
      specified in Clause 8.5; and

            

    

    

    
      	
              (3)

            	
              The
      deadlines granted to the Contractor for completion of pending punch list
      items upon execution of a Provisional Acceptance Certificate shall not be
      considered an extension of the deadlines set forth in this Contract, and
      the Contractor shall indemnify the Owner for any damages that the Owner
      may incur as a result thereof pursuant to Clause 5.2(a)
    above.

            

    

    

    
      	
              (4)

            	
              In
      the event that the Owner does not execute the Provisional Acceptance
      Certificates for the respective Solar Facilities  (or, if
      applicable, the Solar Park) within seven (7) Business Days of verifying
      compliance with the stipulated requirements, the Contractor may request in
      writing that the Owner execute the respective Certificate within an
      additional period of five (5) Business Days. If the Owner has not executed
      the new Provisional Acceptance Certificates for the Solar
      Facilities  (or, if applicable, the Solar Park) within said
      period, the conditions required in this clause for execution of the
      corresponding Certificate have been satisfied, it shall be understood that
      provisional acceptance has been achieved, except to the extent
      discrepancies exist as to the performance of the conditions required by
      the same, in which event the Parties shall submit the matter to
      arbitration in accordance with the provisions of Clause 20
      (2).

            

    

    

    
      	
              (5)

            	
              Within
      thirty (30) days following the execution of the Solar Park Provisional
      Acceptance Certificate, the Contractor must: (i) remove from the Site any
      material used in the construction, as well as any equipment, machinery,
      tools, vehicles and temporary structures that are not necessary during the
      Guarantee Period; (ii) clean the Site and remove any debris or waste; and
      (iii) deliver the “As Built” Plans for the Solar
  Park.

            

    

    

    

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              6.

            	
              OTHER
      OBLIGATIONS OF THE CONTRACTOR

            

    

    

    
      	
               
      

            	
              6.1

            	
              Prevention
      of Occupational Risks

            

    

    

    
      	
              (1)

            	
              The
      Contractor shall be obligated, in compliance with current legislation, to
      perform the works under this Contract in such a way as to ensure the
      safety of workers, and to apply the preventive activity principles set
      forth in Law 31/1995 and its implementing
      regulations.  Accordingly, the Contractor shall be responsible
      for designing the construction process in accordance with the provisions
      of Royal Decree No. 1627/1997, which establish minimum safety and
      health provisions for construction work, and in its the other implementing
      or supplemental regulations, such that the safety of the activities that
      are performed simultaneously or consecutively is ensured, and the safety
      of third parties present in the vicinity of the work site is also
      ensured.

            

    

    

    
      	
              (2)

            	
              In
      particular, as part of the scope of this Contract, the Owner has prepared
      a Safety and Health Study, and furthermore, in compliance with the
      provisions of Royal Decree No. 1627/1997, the Contractor must prepare
      a Workplace Safety and Health Plan, both specifically for the work
      provided for within the scope of this Contract. The Contractor hereby
      represents that they contain, or will contain, all requirements of such
      Royal Decree and its implementing rules and regulations (including the
      provisions of the autonomous communities that apply, if
    any).

            

    

     

    
      	
              (3)

            	
              Furthermore,
      the Owner (at the request of the Contractor) shall appoint a safety and
      health coordinator, who shall have the obligations set forth in Royal
      Decree 1627/1997, and who shall be responsible for ensuring that all of
      personnel of the Contractor, the Subcontractors and of the suppliers of
      equipment or materials under this Contract comply with the safety
      requirements established in current legislation. Both the Owner and the
      Contractor shall be obligated to respect and comply with their respective
      obligations, as imposed by Royal Decree 1627/1997 and other applicable
      rules and regulations.

            

    

     

    
      	
              (4)

            	
              The
      Owner reserves the right to evaluate security during the construction
      period.  This does not imply that Owner has assumed
      responsibility with respect to security measures taken or the preparation
      of documentation or the content of such documentation referred to in this
      Clause, without prejudice to the obligations and responsibilities under
      law that attach as a result of Owner’s capacity as a developer. To this
      effect, the Contractor shall provide to the Owner all documentation that
      Owner may reasonably require in order to confirm the performance of the
      obligations set forth in this
Clause.

            

    

     

    
      	
              (5)

            	
              For
      clarification purposes, in no event shall the Contract Price be increased
      if, as a result of a security check, legal review or technical risk
      review, the Contractor is required to take additional measures designed to
      guarantee compliance with applicable rules and regulations for the
      prevention of occupational risks.

            

    

     

     

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              6.2

            	
              Obligation
      to Provide Access to the Site

            

    

    

    The
Contractor hereby undertakes to provide to the Owner access to the workshops,
warehouses and sites where the Contractor or Subcontractors are performing work,
tests or trials; manufacturing equipment; or storing materials for the
construction, assembly and Start-up of the Solar Park, provided that the Owner
has so requested in writing reasonably in advance and that the visit causes the
least possible interruption of the performance of the work by the Contractor,
and further provided that the Owner agrees to honor all reasonably necessary
confidentiality measures and to respect security measures in force at the Site.
The Contractor also undertakes to ensure that the Subcontractors grant access to
the Owner under the terms of this subsection, for which purpose the Contractor
shall include in the contracts to be entered into with the Subcontractors an
obligation imposed upon them consistent with the provisions of this
subsection.

     

    6.3      
   Minimum
Stock and Supply of Spare Parts

    

    At the
time of execution of the Solar Park Provisional Acceptance Certificate, The
Contractor shall maintain a minimum stock of spare parts in accordance with the
provisions of Annex
5. Such minimum stock shall be maintained at all times until the
execution of the Final Acceptance Certificate, for which purpose the Contractor
undertakes to replace any material or equipment used during such period as
promptly as reasonably possible.

    

    Further,
Contractor shall be responsible for providing, upon the Owner’s request, spare
parts (in particular, modules, inverters and trackers, identical or similar to
those covered by this Contract, in accordance with the terms of Annex
5) necessary for the proper operation and maintenance of the Solar Park
in accordance with the terms of Clause 8.3.2(8) below.

    

    
      	
              6.4

            	
              Quality
      Control

            

    

    

    
      	
               
      

            	
              The
      Contractor must perform a quality control inspection of the modules, using
      standards for acceptance and rejection and testing and measurement
      protocols that are acceptable to the Technical Advisor.  For
      these purposes, the Contractor must inform the Technical Advisor of the
      quality control inspections that it is going to use in the performance of
      this Agreement, and detail the respective acceptance and rejection
      standards and testing and measurement protocols, such that the Technical
      Advisor can approve the same prior to the date on which such modules are
      expected to be received under this
Contract.

            

    

    

    Once the
Technical Advisor has verified the quality control inspection procedures, the
Contractor shall follow such quality control inspection procedures for all
modules received under this Contract, except with respect to those which are
subject to another quality control inspection that has been expressly approved
by the Technical Advisor in writing.

    

    

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              6.5

            	
              Regulatory
      Compliance

            

    

    

    
      	
              (1)

            	
              The
      Contractor undertakes to observe and comply with the regulations
      applicable to the performance of the Work, subject to the provisions of
      subsection (3) below.  In particular, the Contractor must ensure
      compliance with regulations regarding classified activities, safety,
      health, and environmental protection.  In particular, the
      Contractor shall be the only responsible party for compliance with
      applicable law and regulations with respect to (i) ***, and (ii)
      environmental protection during the period of manufacture, construction,
      erection and Tests until the Solar Park Provisional Acceptance Certificate
      has been executed.

            

    

     

    
      	
              (2)

            	
              The
      Contractor represents that it is current in the payment of wages and
      Social Security contributions for the professionals hired by the
      Contractor to perform the services covered by this Contract. Accordingly,
      the Contractor agrees to show to the Owner all documents that the Owner
      may reasonably request evidencing compliance with wage, tax and Social
      Security obligations (including, without limitation, certificates of good
      standing and compliance with tax obligations and the TC1 and TC2 Social
      Security dues bulletins).

            

    

     

    
      	
              (3)

            	
              In
      the event of any change in the applicable rules and regulations after the
      date on which this Contract is signed, the Parties shall proceed in
      accordance with the provisions of Clause 2.4(4) above. In the event that
      either Party does not sign the applicable change document, the Contractor
      shall continue to perform the work in compliance with the rules and
      regulations previously in force, and shall not assume any responsibility
      for any breach of the applicable new rules and
  regulations.

            

    

     

    

    
      	
               
      

            	
              6.6

            	
              Permits
      and Authorizations

            

    

    

    
      	
               
      

            	
              (1)

            	
              ***.  Further,
      both parties agree to follow the joint application procedure provided for
      in the last paragraph of subsection 1 of Section 12 of RD 661 and
      subsection 1 of Section 11 of Decree 299/2003, of November 4, of
      Castilla-La Mancha, such that the applications for the certificate
      relating to start-up and the definitive registration of the Solar
      Facilities and the Electrical Infrastructure shall be made jointly. The
      Parties recognize that making such joint application is an essential
      element for both Parties.  Such application shall be submitted
      by the Contractor before the Delivery Deadline, although in such
      submission (a) it
      shall be the responsibility of the Contractor to provide all information
      and documentation necessary to apply for the start-up certificate referred
      to in Sections 115 c) and 132 of Royal Decree 1.955/2000, of December 1,
      and (b) it shall
      be the responsibility of the Owner to provide all information and
      documentation necessary to apply for the definitive registration of the
      Solar Facilities and the Electrical Infrastructure with the Administrative
      Register of Solar Facilities Producing Power included within the Special
      Regimen, in accordance with the terms of Section 12 of RD 661. Once
      presented, the handling of the applications for the start-up certificate
      and the definitive registration of the Solar Facilities and the Electrical
      Infrastructure shall be the responsibility of the Owner, without prejudice
      to the Contractor’s obligation to cooperate with the Owner in all respects
      in accordance with the terms of Clause
6.11.

            

    

    

    

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              (2)

            	
              For
      clarification purposes:

            

    

    

    
      	
               
      

            	
              (i)

            	
              if,
      due to causes attributable to the Contractor, the application for the
      Final Start-up Certificate is not presented in accordance with subsection
      (1) above with respect to one or more Solar Facilities or to the Solar
      Park on or before the Delivery Deadline,
and/or

            

    

    

    
      	
               
      

            	
              (ii)

            	
              prior
      to September 29, 2008, the Owner has not have obtained the Final Start-up
      Certificate as a result of design defects, defective or inadequate
      equipment or performance of the Work or of defects, imprecision or
      omissions in the documentation or in the technical information delivered
      by the Contractor,

            

    

    

    the Owner
shall have the right to terminate the Contract in accordance with the terms of
Clause 14.1. Notwithstanding the foregoing, the Owner may not terminate the
Contract and the Contractor shall not be held responsible for the consequences
occurring as a result of the failure to obtain the Final Start-up Certificate,
if this failure was due to (i) the Owner’s failure to deliver, or incomplete
delivery, of the documentation which Owner was required to furnish in connection
with the application for the Final Start-up Certificate (although the Contractor
recognizes that the Owner shall not be responsible for failure to provide
documentation required by Section 12 of RD 661 when such documentation could not
be obtained as a result of the failures, imprecision or omissions contemplated
in subsection (ii)
above), or (ii) the failure to request, late request or failure to obtain such
permits and authorizations that are not the responsibility of the Contractor
pursuant to this Contract; or (iii) any other circumstance not attributable to
the Contractor, such as delays by the respective administrative
entity.

    

    The Owner
agrees to cooperate with the Contractor in all respects needed for purposes of
the application or the procurement of ***.  Further, the Owner agrees
to inform the Contractor as soon as possible of any communication, request or
requirement received from a competent administrative authority relating to the
application for approval of the Final Start-up Certificate.

    

    In any
case, even in the event that the application for the Final Start-up Certificate
with respect to all of the Solar Facilities and the Electrical Infrastructure
has not been presented prior to the Delivery Deadline and, without prejudice to
the foregoing, both Parties agree to use their best efforts and to provide all
cooperation necessary to obtain the Final Start-up Certificate prior to
September 29, 2008.

    

    

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              6.7

            	
              Training
      of the Owner’s Personnel

            

    

    

     

    The
Contractor must adequately and sufficiently train the Owner’s personnel to
efficiently operate the Solar Park in all respects.  Such training
must be provided by the Contractor during the four week period prior to the
issuance of the Provisional Acceptance Certificate for the Solar Park and shall
have a maximum duration of five (5) Business Days. The personnel designated by
the Owner to receive such training shall not exceed five (5)
individuals.

     

    
      	
              6.8

            	
              Designation
      of Project Director

            

    

    

    
      	
               
      

            	
              (1)

            	
              The
      Contractor shall name a Project Director with an officially recognized
      technical degree and relevant industry experience with similar
      projects.  The appointment of the Project Director must be
      submitted to the Owner for approval. The Owner may not reject a proposed
      candidate without just cause.

            

    

    

    
      	
               
      

            	
              (2)

            	
              The
      Project Director shall be responsible for overseeing proper performance of
      the Work and for directing, managing, and supervising all of the
      activities necessary for the implementation of the services agreed to by
      the Contractor in accordance with the terms and time periods specified in
      this Contract.  Further, the Project Director shall be the
      principle contact between the Contractor and the Owner during the term of
      this Contract.

            

    

    

    
      	
               
      

            	
              (3)

            	
              Without
      prejudice to the foregoing subsection, in accordance with the terms of
      this Contract and applicable law, the Contractor shall be responsible for
      the actions of the Project Director and any and all consequences arising
      from such actions.

            

    

    

    6.9           Taxes
and Import Duties

    

    The
Contractor agrees to pay all taxes, including all expenses, interest and
surcharges relating thereto, applicable to the supply, manufacture,
transportation, services, sales and other services for which the Contractor is
responsible under this Contract, except with respect to those whose payment is
expressly attributable to the Owner.

    

    
      	
            	
              6.10

            	
              Intellectual
      and Industrial Property Rights

            

    

    

    All of
the drawings and designs that the Owner has prepared or supplied to the
Contractor, and all of the patents, copyrights, design rights and other
intellectual and industrial property rights thereto shall be the property of the
Owner.

    

    The
Contractor, in turn, grants to the Owner, as part of the Contract Price and at
no additional cost, an irrevocable license, not transferable to third parties
(except in conjunction with all of the rights and obligations of the Owner under
this Contract), and free of any royalties, to use in the Solar Park (and
therefore, in no other project) the creations, plans, drawings, specifications,
documents, procedures, methods, products, inventions prepared or developed by
the Contractor under this Contract, in all cases, subject to any restrictions
imposed on such intellectual or industrial rights by third parties. The
Contractor represents and warrants to the Owner that the same are owned by the
Contractor or that the Contractor has sufficient legal rights to use the same
for such purpose. Should any claim or action be brought by a third party
alleging an infringement of any intellectual or industrial property right
granted by the Contractor to the Owner hereunder, the Contractor shall indemnify
the Owner for all liabilities and damages (including costs and expenses) that
may arise as a consequence of such infringement of third parties' rights, claim
or actions arising there from.

    

    

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              6.11

            	
              Cooperation

            

    

    

    The
Contractor undertakes to provide to the Owner all of the cooperation that the
latter may reasonably request in connection with the implementation of the
project for the construction of the Solar Park and compliance with the Owner’s
obligations as specified in this Contract, and to submit to the Owner all of the
documentation or information that the Owner may reasonably request in connection
with the Work and that is available to the Contractor.

    

    
      	
              7.

            	
              OBLIGATIONS
      OF THE OWNER

            

    

    

    The Owner
undertakes to comply with the obligations set forth in this Contract, those
resulting from good faith, and those resulting from the applicable laws and
regulations, including, in particular, the following:

    

    
      	
               
      

            	
              (i)

            	
              To
      comply with its payment obligations under this
  Contract;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              To
      provide to the Contractor, its Subcontractors and employees, during the
      effective term of this Contract, access to the Site to fulfill their
      contractual obligations, including appropriate access to highways and
      access roads to perform the Work. For these effects, the Owner will
      execute, at its cost and expense, agreements with landowners that procure
      all necessary easements or land use
rights;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Subject
      and without prejudice to the obligations of the Contractor under Clauses
      6.6 and 2.2 of his Contract, the Owner shall negotiate and obtain, at its
      own cost and expense, the permits required for Final Start-Up and
      operation of the Solar Park, including the Final Start-up Certificate.
      Specifically, with respect to the joint application procedure referred to
      in Clause 6.6 of this Contract, the Owner agrees to provide all
      documentation and information required to apply for the definitive
      registration of the Solar Facilities and the Electrical Infrastructure
      with the Administrative Register of Solar Facilities Producing Power
      within the Special Regime, in accordance with the terms of Section 12 of
      RD 661, upon the terms of such Clause
6.6;

            

    

    

    

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              (iv)

            	
              To
      cooperate with the Contractor, to the extent necessary, in order to avoid
      any impact on the Implementation Schedule or in the performance of the
      works by the Contractor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              To
      appoint a project coordinator to act on behalf of the Owner in the
      performance of matters associated with the Contract and who must possess
      sufficient powers to represent the
Owner;

            

    

    

    
      	
               
      

            	
              (vi)

            	
              The
      Owner undertakes to provide to the Contractor all of the cooperation that
      the latter may reasonably request in connection with the implementation of
      the Work and compliance with the Contractor’s obligations under this
      Contract.  The Owner shall submit to the Contractor all
      documentation or information that the Contractor may reasonably request in
      connection with the Solar Park and that is available to the
      Owner.

            

    

    

    
      	
              8.

            	
              GUARANTEES

            

    

    

    
      	
              8.1

            	
              Solar
      Module Degradation Guarantee

            

    

    

    
      	
               
      

            	
              The
      Contractor guarantees the durability of the solar modules during the
      Guarantee Period, in accordance with the schedule of guarantees made by
      the manufacturer of the modules set forth on Annex
      6 of this Contract.  Upon expiration of the Guarantee
      Period, the Contractor undertakes to assign to the Owner its rights under
      the module supplier guarantees through the remainder of the 25-year useful
      life of the modules.

            

    

     

    
      	
              8.2

            	
              Solar
      Module Capacity Guarantee

            

    

     

    
      	
              (1)

            	
              The
      Contractor guarantees that the total peak capacity of the Solar Park is
      equal to or higher than the contracted capacity of 5.925 kWp (which will
      be confirmed by the manufacturer’s photoflash certificates). In addition,
      all certificates for each module shall be within the rated peak capacity
      margin of ***% and all aggregate certificates for each of the Solar
      Facilities shall be within the rated peak capacity margin of ***%
      (although the Solar Park can only have a margin with respect to the above
      referenced peak capacity of ***%, in which case the Contract Price shall
      be reduced proportionately in accordance with the final reduced peak
      capacity and the corresponding amount of the final Payment Milestone
      contemplated in Clause 4.2 reduced
accordingly).

            

    

     

     

    
      	
              (2)

            	
              In
      the event that (i) the total sum of the certificates is less than the
      contracted 5.925 kWp (unless it is within the permitted margin for the
      Solar Park pursuant to subsection (1) above), or (ii) the certificates do
      not comply with the above referenced margins, the Contractor shall
      replace, at its expense, solar modules as needed to increase the total
      peak capacity of the Solar Park to the minimum permitted under subsection
      (1) above, or those modules whose individual capacity is inferior to the
      aforementioned tolerance.

            

    

     

     

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              (3)

            	
              If,
      as of the date set forth in Clause 14.1(1)(i), the sum of the
      manufacturer’s photoflash certificates demonstrate the peak capacity of
      the Solar Park is less than the referenced total peak capacity (unless it
      is within the permitted margin for the Solar Park set forth in subsection
      (1) above), the Owner may terminate the Contract for Contractor breach in
      accordance with the terms of Clause 14.1, and pay the indemnity set forth
      in such Clause.

            

    

     

     

    
      	
              (4)

            	
              The
      Owner reserves the right to perform capacity tests on the solar module
      samples that have been provided at the CIEMAT, CENER or IFE-Frauhofer
      laboratories, in accordance with the applicable IEC (International
      Electrotechnical Commission) standard in order to confirm their compliance
      with the capacity specified by the manufacturer and guaranteed by the
      Contractor. The results thereof shall be binding on the Parties. In the
      event that such results confirm that the capacity of the modules does not
      fall within the tolerance guaranteed by the Contractor, the Contractor
      shall bear the costs of such tests and shall immediately replace the
      entire batch of modules corresponding to the tested samples, except to the
      extent that the modules failing the capacity test can be identified, in
      which case, only those modules shall be
  replaced.

            

    

     

    
      	
               
      

            	
              8.3

            	
              Design,
      Assembly and Performance Guarantee. Materials Quality
      Guarantee.

            

    

    

    
      	
              8.3.1

            	
              Design, Assembly and
      Performance Guarantee

            

    

    
      	
               
      

            	 

    

    
      	
              (1)

            	
              The
      Contractor guarantees during the Guarantee Period that the procedures
      followed for the design of the facilities and for the performance of the
      work are of the required quality and conform to the specifications
      contained in this Contract.

            

    

    

    
      	
              (2)

            	
              The
      Contractor is obliged to repair or, if necessary in its opinion, to supply
      totally new, and reinstall free of charge to the Owner, those parts or
      components of the facilities included in the Scope of Work that fail
      during the Guarantee Period due to design, assembly or performance
      defects.

            

    

    

    
      	
              (3)

            	
              The
      provisions of subsections 8.3(2) to (8) below with respect to the
      Materials Quality Guarantee shall apply, mutatis mutandis, to
      the guarantee provided under this
subsection.

            

    

    

    
      	
              8.3.2

            	
              Materials Quality
      Guarantee

            

    

    

    
      	
              (1)

            	
              The
      Contractor guarantees that all the materials and components used in the
      manufacture, assembly and Start-up of the Solar Park are of the required
      quality and conform to the specifications for the equipment and the
      technical documents contained in the Annexes to this
      Contract.  The Contractor further guarantees a minimum stock of
      spare parts to the Owner in accordance with the terms of Clause 6.3 and
      Annex
      5 of this Contract.

            

    

    
    

     

     

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              (2)

            	
              The
      materials quality guarantee will enter into force on the date of issuance
      of the relevant Solar Park Provisional Acceptance Certificate and shall
      remain in force until the Solar Park Final Acceptance Certificate is
      signed. If the Solar Park or a portion thereof, cannot be commercially
      operated during the Guarantee Period for reasons attributable to the
      Contractor, the Guarantee Period shall be extended (only as regards the
      affected facilities) for a period equal to the period during which the
      corresponding facilities are not operating.  For this purpose,
      the parties shall record in writing the periods during which operation is
      suspended and the corresponding extensions of the
    guarantee.

            

    

    

    
      	
              (3)

            	
              During
      the Guarantee Period, the Contractor is required, in its
      discretion:

            

    

    

    
      	
            	
              a)

            	
              To
      replace any material and equipment that do not comply with what was agreed
      upon or required pursuant to this Contract, or that are inadequate or of a
      deficient quality; and

            

    

    

    
      	
            	
              b)

            	
              To
      adjust, repair or replace any equipment exhibiting any design, materials,
      manufacturing, operation, or performance defect. If a Systemic Defect
      exists with respect to any equipment or components supplied under this
      Contract, the Contractor shall carry out, at its expense, the redesign
      and/or modifications necessary to cure such problem in accordance with the
      Owner’s requirements.

            

    

    

    
      	
              (4)

            	
              The
      adjustments, repairs or replacements must be performed within the shortest
      period that is reasonably possible (and, in any event, no later than
      fifteen (15) days from the time the defect is detected), in a manner that
      is least prejudicial to the Owner and taking all action needed to cause
      the least possible harm to the operation of the overall facilities of the
      Solar Park.

            

    

    

    If the
Contractor fails to make the above-mentioned adjustments, repairs, or
replacements within the period established in this Clause, the Owner shall so
inform the Contractor and shall grant the Contractor a period of five (5) days
to complete any such adjustments, repairs or replacements. If the Contractor
fails to make the above-mentioned adjustments, repairs, or replacements within
such period, the Owner may do so itself or through third parties at the
Contractor's expense, which action shall not entail forfeiture of the quality
guarantee provided by the Contractor under this Clause. The Contractor shall be
also required to pay to the Owner the direct expenses paid to the
above-mentioned third parties for such purpose.

    

    
      	
              (5)

            	
              Repairs,
      adjustments, alterations, replacements or maintenance that may be
      necessary because of the normal wear and tear of on the facilities
      provided under this Contract or caused by misuse or negligent use of the
      equipment by the Owner or by third parties (other than the Contractor or
      its Subcontractors) or because of the use of the equipment supplied to
      Owner in a manner that does not conform to the technical specifications,
      are all excluded from the scope of the guarantee.  For
      clarification purposes, it shall be understood that the Owner (or third
      parties acting on its behalf) has used equipment in the intended manner
      when such use conforms to the operation and maintenance manuals delivered
      to the Owner by the Contractor pursuant to this Contract.  This
      guarantee may not be enforced in the event of the inaccessibility of the
      Site, provided that the Contractor has notified the Owner of the existence
      of such inaccessibility, or, in the events of Force Majeure (for such
      time as exist the circumstances preventing the provision
      thereof).

            

    

    

    

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              (6)

            	
              The
      obligations arising from the guarantee set forth in this section shall be
      fulfilled by the Contractor at its sole cost and expense and free of any
      charges or expenditures by the Owner, and the Contractor shall bear the
      expenses arising as a result thereof for the Owner, such as demolition and
      disassembly, construction, carting, insurance and packaging for returned
      materials and their replacement, assembly and supervision, taxes and the
      like.

            

    

    

    
      	
              (7)

            	
              All
      repaired or replaced material shall carry a new guarantee period of the
      following duration from the date of repair or
  replacement:

            

    

    

    
      	
               
      

            	
              (i)

            	
              if
      repaired, *** (***) months or the time remaining until the issuance of the
      Solar Park Final Acceptance Certificate, whichever is longer;
      and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              if
      replaced, *** (***) months or the time remaining until the issuance of the
      Solar Park Final Acceptance Certificate, whichever is
    longer.

            

    

    

     

    
      	
              (8)

            	
              The
      Contractor guarantees the availability of spare parts for the modules,
      inverters and solar trackers during the Guarantee Period and during the
      entire useful life of each Solar Facility, in the latter case provided the
      Maintenance Agreement remains in force. The Contractor shall provide such
      guarantee on the following terms:

            

    

     

    
      	
               
      

            	
              (i)

            	
              With
      respect to the module, inverter or solar tracker spare parts that are
      manufactured by the Contractor or by companies of its group (currently
      headed by Sunpower Corporation), the Contractor shall ensure that such
      spare parts continue to be manufactured or, in the event that the
      Contractor or the companies of its group do not manufacture spare parts
      identical to those already installed, that spare parts for modules,
      inverters or solar trackers of similar characteristics (and, in the case
      of modules, of equal or greater capacity) are available, provided they do
      not entail a reduction in the guaranteed performance of the Solar
      Park.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              With
      respect to the module, inverter or solar tracker spare parts that are not
      manufactured by the Contractor or by companies of its group, the
      Contractor shall use reasonable efforts to (a) cause the respective
      suppliers to continue to manufacture such spare parts or other spare parts
      with similar characteristics (and, in the case of modules, of equal or
      greater capacity), provided they do not entail a reduction of the
      guaranteed performance of the Solar Park, or (b) obtain such spare parts
      with similar characteristics from other vendors with technical
      capabilities that are at least similar to the original
      ones.  Should the Contractor become aware that an original
      vendor intends to stop manufacturing such spare parts, it shall so notify
      the Owner so that the Owner may order, through the Contractor, the spare
      parts it deems appropriate, provided they are available on the
      market.

            

    

     

    

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    Such
spare parts will be supplied at the Owner’s request at the market prices
prevailing from time to time (which shall be paid by the Owner) and within such
reasonable period as the Parties agree, taking into account the characteristics
of the requested spare part.

     

     

    
      	
              8.4

            	
              Solar
      Park Production Guarantee.

            

    

    

    
      	
              (1)

            	
              The
      Contractor guarantees to the Owner that the aggregate electric output of
      the Solar Park during each of the *** periods included in the Production
      Guarantee Period shall reach the PR guaranteed pursuant to Annex
      10 (the “Guaranteed PR”), for
      each determined irradiance and temperature condition, and that in no event
      shall it fall beneath the PR minimum set forth in such Annex (the “Minimum
      PR”).

            

    

     

    In the
event of a partial termination of the Contract in accordance with the provisions
of Clause 14.1, the Guaranteed PR and the Minimum PR shall be applied to the
electric output of the Solar Facilities that were not rejected by the Owner.

    

    
      	
              (2)

            	
              A
      Production Test shall be performed at the end of each *** period dividing
      the Production Guarantee Period in order to confirm the electrical
      output.  For these purposes, within the forty-five (45) days
      prior to the termination of the *** period following the commencement date
      of the Production Guarantee Period, and within the forty-five (45) days
      prior to the termination of the Production Guarantee Period, the
      Contractor shall notify the Owner of such circumstance so that the Parties
      may agree upon a date the perform the Production Tests for the
      corresponding *** period (which, in no event may be later than the date
      which is fifteen (15) Business Days following the date of termination of
      the period which is *** following the commencement date of the Production
      Guarantee Period or the termination date of the Production Guarantee
      Period, as applicable). The following shall apply to the results of the
      Production Tests for the Solar
Park:

            

    

     

    
      	
               
      

            	
              (a)

            	
              If
      the actual measured output of the Solar Park is less than the Guaranteed
      PR for the corresponding *** period (as such term is defined in Annex
      10) but is greater than the Minimum PR for such period, the
      Contractor shall pay to the Owner the penalties set forth in Annex
      10, up to a maximum of ***% of the Contract Price.
  

            

    

     

     

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              (b)

            	
              If
      the actual measured output of the Solar Park is less than
      the  Minimum PR for the corresponding *** period,  the
      Owner may elect to: (i) return the entire
      Solar Park to the Contractor (or the part thereof that was not rejected in
      the event of a partial termination in accordance with the terms of Clause
      14.1), the Contractor then being obligated to return the entire Contract
      Price paid by the Owner pursuant to this Contract and to indemnify the
      Owner for damages pursuant to Clause 14.1(5), or (ii) return the Solar
      Facilities causing the failure to achieve the Minimum PR to the
      Contractor, the Contractor then being obligated to return the portion of
      the Contract Price corresponding to such Solar Facilities and to indemnify
      the Owner for damages pursuant to Clause 14.1(5) that correspond to the
      returned Solar Facilities.

            

    

     

     

    
      	
              (3)

            	
              If
      the Guaranteed PR is reached in the Production Tests for each *** period,
      or if the Contractor shall have paid the required penalties for achieving
      an output between the Minimum PR and the Guaranteed PR, the Parties shall
      execute a certificate of agreement.  The execution of such
      certificate corresponding to the second *** period for the Guaranteed
      Production Period shall grant the Contractor the right to require the
      Owner to return the Guarantee Bond in force at the time and replace the
      same with a new Guarantee Bond in an amount equal to ***% of the Contract
      Price.  The same provisions of this subsection shall also be
      applied to the Solar Facilities, if any, that the Owner did not return in
      accordance with subsection
8.4(2)(b).

            

    

     

     

    
      	
               
      

            	
              (4)

            	
              The
      Contractor shall not be responsible for breach of the guarantees in the
      event that such failure was caused by the circumstances described in
      Clause 8.3.2(5) above or by excessive failures of the grid coupled with
      the disconnection of the inverters for exceeding the conditions detailed
      in their technical specifications.

            

    

    

    
      	
               
      

            	
              Further,
      in the event that a Systemic Defect arises during a Production Guarantee
      Period, the data from the Solar Park as a whole shall not considered for
      purposes of the Production Guarantee during the time the Contractor is
      replacing the equipment affected by such Systemic Defect, up to a maximum
      of three (3) months.  Thus, in the event that the Contractor
      takes more than three (3) months to replace the Solar Park equipment
      affected by a Systemic Defect, only that three (3) month period shall
      remain in the Production Guarantee Period. For this purpose, the parties
      shall record the suspension periods and corresponding extensions of the
      Production Guarantee in writing.

            

    

    

    
      	
               
      

            	
              For
      clarification purposes, the appearance of a Systemic Defect shall obligate
      the Contractor to replace all equipment of the same model and
      manufacturer, regardless of whether they have manifested such defect at
      the time of their replacement.

            

    

    
    

     

     

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              8.5

            	
              Bonds

            

    

    

    
      	
              (1)

            	
              On
      the Condition Satisfaction Date, the Contractor shall deliver to the Owner
      the Performance Bond, as per the form attached hereto as Annex
      7, in an amount equivalent to ***% of the Contract Price. The
      Performance Bond shall guarantee the performance by the Contractor of any
      payment obligation for which the Contractor is responsible from the
      commencement of the Work until the date of execution of the Solar Park
      Provisional Acceptance Certificate (for any reason, including but not
      limited to the return of the amounts paid by the Owner, under this
      Contract, penalties or compensation for damages and losses, including the
      performance by the Contractor of its obligations during the portion of the
      Guarantee Period prior to the execution of the Solar Park Provisional
      Acceptance Certificate).

            

    

    

    
      	
              (2)

            	
              As
      a requirement for the execution of the Solar Park Provisional Acceptance
      Certificate, the Contractor shall deliver to the Owner the Guarantee Bond
      (in exchange for the return of the Performance Bond by the Owner), in an
      amount equal to ***% of the Contract Price. The Guarantee Bond shall
      conform to the form attached hereto as Annex
      7 and shall guarantee the Contractor’s compliance with its
      obligations during the Guarantee Period (beginning from the execution of
      the Solar Park Provisional Acceptance Certificate). However, once the
      Performance Tests corresponding to the second *** period of the Production
      Guarantee Period have been performed and the written agreement referred to
      in Clause 8.4(3) has been executed, the Contractor shall have the right to
      replace the Guarantee Bond delivered to the Owner with a new Guarantee
      Bond in an amount equal to ***% of the Contract
  Price.

            

    

    

    
      	
              (3)

            	
              The
      Performance Bond and the Guarantee Bond shall be issued by a financial
      institution with a minimum “A” rating by Standard & Poor’s Corporation
      or the equivalent from Moody’s Investors Services Inc., and shall be
      enforceable, in whole or in part, on demand by the Owner, in the event of
      the Contractor’s breach of its obligations under this
      Contract.

            

    

    

    
      	
              (4)

            	
              The
      delivery of the bonds provided under this section shall in no way limit
      the Contractor's liability under this Contract, as the bonds only
      constitute a means to guarantee the performance of the obligations assumed
      by the Contractor.

            

    

    

    
      	
              (5)

            	
              If
      the Contract Price is amended pursuant to Change Orders, the Contractor
      must update the amount of the Performance Bond. To such end, the
      Contractor must deliver to the Owner (within fifteen (15) Business Days
      following the execution of the corresponding Change Order), the bonds in
      the updated amount, in the form attached hereto as Annex
      7.

            

    

    

    
      	
              9.

            	
              FINAL
      ACCEPTANCE OF THE SOLAR PARK

            

    

    

    

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              (1)

            	
              Within
      forty-five (45) days prior to the passage of *** from the date on which
      the Solar Park Final Start-Up Certificate has been obtained, the
      Contractor shall give notice thereof to the Owner in order for both
      Parties to agree upon a date to analyze the status and condition of the
      Solar Park (which shall not occur later than the Guarantee Period
      expiration date).

            

    

    

    
      	
              (2)

            	
              If
      such inspection does not reveal the presence of defects, the Parties shall
      proceed to execute the Final Acceptance Certificate, at which time the
      Owner shall return the Guarantee Bond to the
  Contractor.

            

    

    

    
      	
              (3)

            	
              If
      such inspection finds that defects are present that affect the
      Contractor's obligations during the Guarantee Period, the Parties shall
      sign a certificate specifying the defects, if any, that must be corrected
      within a period of forty-five (45) days of the date of execution of the
      corresponding certificate, or within such shorter period that the Parties
      may agree upon.

            

    

    

    
      	
               
      

            	
              Once
      such defects have been corrected by the Contractor within the specified
      period, a new inspection shall be performed, and if the defects have been
      remedied, the Parties shall proceed to execute the Final Acceptance
      Certificate, and the Owner shall return the Guarantee Bond to the
      Contractor.

            

    

    

    
      	
               
      

            	
              10.

            	
              OWNERSHIP
      OF THE FACILITIES AND TRANSFER OF
RISK

            

    

    

    
      	
              (1)

            	
              The
      Owner and the Contractor expressly agree that the actual transfer of
      ownership of the facilities and equipment covered by this Contract will be
      made, for all contractual purposes, when each of the same shall have been
      paid for in full by the Owner. With respect to the solar modules, module
      supports and trackers, ownership thereof will be transferred to the Owner
      upon payment of the respective invoice as provided in Clause 4, whereupon
      the Owner will become the owner of the solar modules, the module supports
      and the trackers included in such
invoice.

            

    

    

    
      	
              (2)

            	
              Without
      prejudice to the foregoing, or to the Contractor’s obligations during the
      Guarantee Period, the possession and the risk of loss of the same shall
      not be transferred to the Owner until the execution of the Solar Park
      Provisional Acceptance Certificate.

            

    

    

    
      	
              (3)

            	
              Until
      the execution of the Solar Park Provisional Acceptance Certificate, the
      Contractor must repair or replace, at its own expense, any equipment,
      facility or portion of Work that is lost or damaged.  Further,
      the Contractor must assume responsibility for the care and security of the
      Site and assume responsibility for any loss, theft or damage that may
      occur with respect to the Contractor’s materials or machinery or the
      equipment delivered pursuant to this
Contract.

            

    

    

    
      	
              11.

            	
              INSURANCE

            

    

    

    

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              (1)

            	
              At
      all times during which the Contractor continues performing work under this
      Contract, the Contractor, at its own cost and expense, shall take out and
      maintain in force the insurance described below with well-known and
      solvent insurance companies that are legally authorized to issue policies
      in Spain, on terms and conditions of coverage satisfactory to the Owner
      and the Insurance Advisor:

            

    

    

    
      	
               
      

            	
              a)

            	
              Occupational
      Accidents or Social Security Insurance for all its own personnel or for
      the personnel of the Subcontractors as is legally required during the
      effective period of the Contract.

            

    

    

    
      	
               
      

            	
              b)

            	
              Mandatory
      Civil Liability Insurance and Voluntary Civil Liability Insurance for the
      Circulation of Vehicles and Machinery, pursuant to the limits and
      conditions mandated by the Legislation in force during the effective
      period of the Contract.

            

    

    

    
      	
               
      

            	
              c)

            	
              Civil
      Liability Insurance covering all activities of the Contractor and the
      Subcontractors necessary to complete the Work, with a limit of not less
      than €1,500,000 per occurrence.

            

    

    

    
      	
               
      

            	
              d)

            	
              Transportation
      Insurance covering the transportation of material and machinery to the
      Site, with a limit of not less than the aggregate value of the transported
      goods.

            

    

    

    
      	
               
      

            	
              e)

            	
              All-Risks
      Construction and Assembly Insurance, which will specifically include theft
      and vandalism at the Site, from the unloading of the material at the Site
      until the transfer of ownership of the Solar Park, including the testing
      period and covering a maintenance period of not less than 12 months, with
      an insured amount not less than the Contract
  Price.

            

    

    

    
      	
               
      

            	
              f)

            	
              Any
      other mandatory insurance.

            

    

    

    
      	
              (2)

            	
              The
      contracting of insurance provided in this clause shall in no event limit
      the liabilities of the Contractor under this Contract. Additionally, the
      amounts established as an insurance deductible in each of the insurance
      policies shall be borne by the Contractor, unless the loss is attributable
      to the Owner.

            

    

    

    
      	
              (3)

            	
              The
      Owner may require that the Contractor deliver documentation evidencing the
      contracting of the insurance set forth under this Clause to verify
      compliance therewith and/or for verification by the Insurance Advisor, and
      the Contractor undertakes to make such documentation available to the
      Owner as soon as possible.

            

    

    

    
      	
              12.

            	
              FORCE
      MAJEURE

            

    

    

    

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              (1)

            	
              Neither
      Party shall be deemed liable for the breach of any of its obligations to
      the extent that the performance of such obligations is delayed or becomes
      impossible as a consequence of Force
      Majeure.

            

    

    

    
      	
              (2)

            	
              For
      the purposes of this Contract, events of Force Majeure shall be
      deemed to be the events described in Article 1105 of the Civil Code,
      provided that they actually prevent compliance by the party invoking it
      from complying in whole or in part with its obligations under this
      Contract. The Parties expressly agree that the discovery of archeological
      ruins at the Site shall be considered an event of Force Majeure for
      purposes of this Contract (without prejudice to the changes, if any, that
      the Parties may agree to in accordance with subsection (11) below and the
      consequences set forth therein). By way of example and not limitation, the
      Contractor may not invoke the following as an event of force
      majeure:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Meteorological
      conditions or phenomena that could have been reasonably foreseen by
      experienced contractors operating at the
Site.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Delays
      or failures in obtaining materials or labor that are foreseeable or
      avoidable in advance.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Delays
      by any Subcontractor, unless such delays are based on any of the events
      specified in this clause.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Strikes
      or labor conflicts affecting the Contractor or the Subcontractors, unless
      they are national, sector-wide or local in
  scope.

            

    

    

    
      	
              (3)

            	
              The
      Party affected by Force
      Majeure shall give written notice to the other Party as soon as
      possible within a maximum period of forty-eight (48) hours from the day on
      which such Party became aware thereof, attaching to such notice all
      available documents evidencing the event that is deemed to amount to Force Majeure, the
      measures taken up to such point in time, and an estimation, if possible,
      of the expected duration thereof and its impact on the
  Work

            

    

    

    
      	
              (4)

            	
              The
      performance of the obligations affected by an event of Force Majeure shall be
      suspended for the duration of such event, the Parties not being entitled
      to damages as results of such events of Force
      Majeure.

            

    

    

    
      	
              (5)

            	
              If
      the Work is affected by the event of Force Majeure and the
      Contract is suspended for more than one hundred eighty (180) days, either
      of the Parties may seek termination of the Contract, with the consequences
      provided in Clause 14.3.

            

    

    

    
      	
              (6)

            	
              After
      cessation of the event of Force Majeure, the
      Parties shall agree upon the corresponding extension of deadlines (in all
      cases in light of the duration of the event of Force Majeure and the
      mobilization periods), or, if applicable, the measures that must be
      adopted to recover, in whole or in part, the time lost so as to preserve
      such dates, if possible. The contractual obligations not affected by Force Majeure must be
      met within the deadlines that were in force prior to the occurrence of the
      event of Force
      Majeure.

            

    

    

    

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              (7)

            	
              In
      any event, upon cessation of the event of Force Majeure, the
      Parties shall take all reasonable measures within their power to resume
      performance of the obligations under the Contract under optimal conditions
      and with the least possible delay.

            

    

    

    
      	
              (8)

            	
              The
      expenses incurred as a consequence of the repair, replacement or
      adjustment of the items damaged by the events of Force Majeure shall be
      borne by the party bearing the risk of loss for such elements at the time
      of occurrence of the event of Force
      Majeure.

            

    

    

    
      	
              (9)

            	
              In
      the event that an event of Force Majeure prevents
      a Party from complying with a payment obligation required by the Contract,
      such payment obligation shall not be waived and the other Party may
      suspend performance of its obligations under the Contract.  Such
      occurrence shall not give either Party a right to indemnification for
      damages, without prejudice to any interest for delay in payment that might
      apply.

            

    

    

    
      	
              (10)

            	
              The
      Party claiming the Force
      Majeure event shall immediately notify the other Party of its
      cessation.  Within seven (7) calendar days following the
      cessation of the Force
      Majeure event, the Parties shall meet to agree and assess the
      effects that such situation caused.  Such agreement shall be
      documented in a certificate signed by both Parties describing the changes
      to the contractual conditions.

            

    

    

    
      	
              (11)

            	
              In
      the event that archeological ruins are discovered at the Site, but the
      Work may be continued by reducing the size of the Solar Park, the number
      of Solar Facilities, or by implementing a reconfiguration of the technical
      configuration of the Solar Park, the Parties shall meet to agree on such
      changes and shall execute a certificate describing the changes to the
      contractual conditions.  In any event, if the change entails a
      reduction in the capacity of the Solar Park, or in the number of Solar
      Facilities, thus requiring a reduction of the Contract Price, the Owner
      shall have the right to withhold from the remaining Payment Milestones
      payable after the change, the portion of the Contract Price previously
      paid by the Owner that corresponds to the Solar Facilities or the
      equipment affected by the reduction and which, consequently, were not
      delivered by the Contractor under this
Contract.

            

    

    

    
      	
              13.

            	
              SUSPENSION
      OF THE WORK

            

    

    

    
      	
              13.1

            	
              Suspension
      by the Owner

            

    

    

    

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              (1)

            	
              The
      Owner may at any time give written notice to the Contractor ordering the
      immediate suspension of the Solar Park, in whole or in part, for any of
      the following reasons:

            

    

    

    
      	
               
      

            	
              a)

            	
              If
      the Contractor is performing the Work in a defective or inappropriate
      manner, or not adhering to uses and practices customary for projects of
      this type or as established under this Contract, provided that the
      Contractor does not cure such defects within a reasonable period granted
      by the Owner.

            

    

    

    
      	
               
      

            	
              b)

            	
              If
      the means and methods used by the Contractor are not appropriate to ensure
      the performance of the Work in accordance with safety standards, avoiding
      damage to people and things, provided that the Contractor does not cure
      such defects within a reasonable period granted by the
    Owner.

            

    

    

    
      	
               
      

            	
              c)

            	
              If
      the means and methods used by the Contractor are not appropriate to ensure
      the performance of the Work in accordance with quality control
      requirements, provided that the Contractor does not cure such defects
      within a reasonable period granted by the
Owner.

            

    

    

    
      	
               
      

            	
              d)

            	
              If
      the Contractor fails to comply with the instructions issued by the
      Governmental Authorities for the execution of the Work, to the extent that
      this may affect the authorizations granted or requested or the successful
      achievement of the purpose of the
Contract.

            

    

    

    
      	
               
      

            	
              e)

            	
              By
      unilateral decision of the Owner.

            

    

    

    
      	
              (2)

            	
              The
      order providing for the suspension of the Work shall specify in writing
      the portion thereof that is being suspended, the grounds for suspension,
      the effective date of suspension and the date provided for the resumption
      of the Work (if applicable).

            

    

    

    
      	
              (3)

            	
              In
      all the cases provided in subsection (1) above, except for the ones
      mentioned in subsection (e), the suspension shall last for all the time
      required and until the Contractor cures the circumstances that gave rise
      to the suspension of the Work. Additionally, in none of such cases shall
      the Contractor be entitled to any additional payment whatsoever or to the
      extension of the periods provided in the Implementation Schedule, except
      in the case mentioned in subsection (e), where the Contractor shall be
      entitled to an extension of the deadlines provided in the Implementation
      Schedule for a period at least equal to the suspension period and to be
      compensated for the costs resulting from the repair, replacement or
      adjustment of the items damaged during the suspension period and the costs
      arising from the suspension and resumption of the
  Work.

            

    

    

    
      	
              (4)

            	
              If
      the suspension lasts for a period in excess of one hundred and eighty
      (180) days, and the reasons are not attributable to the Owner, the
      Contractor shall reserve the right to terminate the Contract upon the
      terms of Clause 14.1.

            

    

    

    

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              13.2

            	
              Suspension
      by the Contractor

            

    

    

    
      	
              (1)

            	
              The
      Contractor shall be entitled to temporarily suspend the Work as provided
      under this Contract, applicable law and in the event that the Owner incurs
      a delay in excess of thirty (30) days in the payments owing to the
      Contractor, as regards the expiration dates of the relevant invoices
      (except in the case of the works relating to a Payment Milestone disputed
      in accordance with Clause 4.3 (3)).  In such event, the Owner
      shall pay to the Contractor its expenses arising from the suspension
      (including the costs resulting as a consequence of the repair, replacement
      or adaptation of the damaged elements during the suspension period and the
      costs arising from the suspension and resumption of the Work) and the
      Parties shall agree upon an extension of the deadlines for performance
      based on the effects of the suspension
thereon.

            

    

    

    
      	
              (2)

            	
              If
      the suspension for a cause attributable to the Owner (including the one
      provided under subsection 13.1(1)(e) above) lasts for more than three (3)
      months or during several consecutive periods totaling more than three (3)
      months, the Contractor shall be entitled to terminate the Contract upon
      the terms of Clause 14.2.

            

    

    

    
      	
              13.3

            	
              Suspension
      by Judicial or Governmental
Authority

            

    

    

    
      	
              (1)

            	
              In
      the event of suspension, interruption or stoppage of the Work, in whole or
      in part, ordered by any judicial or governmental authority, or by the
      Owner or Contractor following the instructions of any judicial or
      governmental authority, the financial and contractual consequences of the
      delay shall be borne by the party that is responsible for performance
      where the failure to perform or incorrect performance triggered the
      judicial or governmental action.

            

    

    

    
      	
              (2)

            	
              If
      such suspension, interruption or stoppage does not result from the actions
      or omissions of any of the Parties, the periods of the Implementation
      Schedule shall be extended for a period at least equal to the one during
      which the situation subsisted, and the Owner shall pay to the Contractor
      the duly verified costs incurred as a result of such interruption. The
      Contractor undertakes to act diligently to minimize such
      costs.

            

    

    

    
      	
              (3)

            	
              If
      the suspension ordered by any judicial or governmental order, or by the
      Owner or the Contractor following the instructions of any judicial or
      governmental authority, extends for more than six (6) months, either of
      the Parties will be entitled to terminate the Contract upon the terms of
      Clause 14.

            

    

    

    
      	
              14.

            	
              TERMINATION

            

    

    

    

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              14.1

            	
              Termination
      for Causes Attributable to the
Contractor

            

    

    

    
      	
              (1)

            	
              The
      Owner may terminate the Contract in the cases authorized by the Law, in
      the instances provided for in this Contract, or upon the occurrence of any
      of the following events:

            

    

    

    
      	
               
      

            	
              a)

            	
              The
      dissolution or merger (provided it involves a change in control) of the
      Contractor or a change in the control ***, or when a substantial portion
      of the assets of the Contractor *** is transferred to another company,
      provided that such circumstances seriously prejudice the Contractor’s ***
      capacity to perform the obligations under this
  Contract;

            

    

    

    
      	
               
      

            	
              b)

            	
              The
      voluntary filing by the Contractor of a bankruptcy petition or the
      allowance of a bankruptcy petition by a third party against the Contractor
      (or any equivalent action in accordance with the insolvency legislation
      applicable to the Contractor), or in the case of clear financial
      difficulties that prevent the Contractor from normally complying with
      obligations arising under the Contract, unless its obligations are
      sufficiently guaranteed under this Contract. The occurrence of the same
      events as regards *** shall also be grounds for
    termination.

            

    

    

    
      	
               
      

            	
              c)

            	
              If
      the Contractor assigns or subcontracts the Contract, in whole or in part,
      without complying with the conditions set forth in this
      document.

            

    

    

    
      	
               
      

            	
              d)

            	
              If
      the Contractor fails to comply with its obligations involving the
      contracting and maintenance of the insurance provided under the Contract
      in a manner that might endanger coverage under the relevant
      policies.

            

    

    

    
      	
               
      

            	
              e)

            	
              If
      the Contractor has been assessed penalties for failure to achieve the
      Production Guarantee beyond the maximum limits, if applicable, provided
      under this Contract.

            

    

    

    
      	
               
      

            	
              f)

            	
              The
      Contractor has interrupted the Work or a substantial portion thereof or
      has abandoned the Solar Park for a period exceeding twenty (20) calendar
      days without the Owner’s authorization, or in the case of interruptions
      for an aggregate duration of more than thirty (30) days within the same
      calendar year, provided that the interruptions do not arise from a
      suspension of the Work provided under Clause
  13.2.

            

    

    

    
      	
               
      

            	
              g)

            	
              If
      the application for the Final Start-up Certificate has not been filed
      together with all required in accordance with the terms of Clause 6.6 on
      or prior to the Delivery Deadline due to causes attributable to the
      Contractor, although the Owner cannot effect termination for the reason
      set forth in this subsection with respect to those Solar Facilities or
      Electrical Infrastructure for which a Final Start-up Certificate would
      have been obtained prior to September 29,
2008.

            

    

    

    

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              h)

            	
              If
      the Owner has not obtained the Final Start-up Certificate (with respect to
      one or more Solar Facilities and/or the Electrical Infrastructure) prior
      to ***, for the reasons set forth in Clause
  6.6(2)(ii).

            

    

    

    
      	
               
      

            	
              i)

            	
              If
      the Provisional Acceptance Certificate for one or more Solar Facilities or
      the Electrical Infrastructure has not been issued prior to
      ***.

            

    

    

    
      	
               
      

            	
              j)

            	
              ***

            

    

    

    
      	
               
      

            	
              k)

            	
              ***

            

    

    

    
      	
               
      

            	
              l)

            	
              If
      there is any other material breach of the obligations assumed by the
      Contractor under this Contract.

            

    

    

    
      	
               
      

            	
              m)

            	
              Any
      other serious breach of a principal obligation of the Contractor that
      might affect or prevent the successful conclusion of the Contract, or that
      is expressly designated herein as grounds for
  termination.

            

    

     

    
      	
              (2)

            	
              Upon
      the occurrence of any of the above events, the Owner may elect to
      terminate the Contract, in whole or in part, with respect to the Solar
      Facilities for which the Provisional Acceptance Certificate of a Facility
      has not been issued as of the date of notice of termination, or for which
      the Final Start-up Certificate has not been obtained in the case of
      subsections g) and h) above (hereinafter, the “Affected Facilities”),
      except to the extent that the number of Affected Facilities is less than
      40% of the total Solar Facilities, in which case the Owner may only
      terminate the Contract with respect to such Affected
      Facilities.

            

    

     

    However,
if the Affected Facilities represent less than 40% of the Solar Facilities, the
Owner may elect to terminate the Contract with respect to the entire Solar Park
if one of the termination events set forth in subsections a) or b) has occurred
and the Owner reasonably believes that such circumstances pose a material
prejudice or risk to the performance of the Contractor’s obligations under this
Contract during the Guarantee Period.  The foregoing shall not apply
if the Contractor has provided equipment guarantees, satisfactory to the Owner,
sufficient to ensure proper maintenance and replacement of the Solar Park during
the Guarantee Period and the Contractor has assigned such guarantees to the
Owner pursuant to the terms of this Contract.

     

    The above
shall not prejudice the Owner’s option to return the Solar Park in its entirety
upon the occurrence of the circumstance set forth in Clause
8.4(2)(b).

    

    
      
        	
              	
                (3)

              	
                Upon
      the occurrence of any of the above events, the Owner shall give the
      Contractor a period of thirty (30) days to remedy the event, or any other
      longer period that may be agreed upon by the Parties. If within such
      period the Contractor fails to remedy such grounds for termination to the
      Owner's satisfaction, the Contract shall be terminated (in whole or in
      part, as applicable).  For clarification purposes, it is noted
      for the record that in no event will the remedy period provided herein be
      applicable to the circumstances provided in subsections (1)(b), (e), (f),
      (g) , (h) and (i) of this
Clause.

              

      

    

    

    

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              (4)

            	
              In
      the event of a termination of the Contract (in whole or in part) under
      this subsection, the following shall occur (without prejudice to the
      provisions of subsection (6)):

            

    

    

    
      	
               
      

            	
              (i)

            	
              In
      the event of partial
      termination, only as to some Solar Facilities in the Solar Park,
      the Contractor shall be obligated to return to the Owner the portion of
      the Contract Price that it charged for the Affected Facilities and shall
      be obligated to pay indemnification for any damages pursuant to subsection
      (5) below. The Contractor shall recover ownership of the property
      comprising such Solar Facilities.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              In
      the event of complete
      termination, the Contractor shall be obligated to return the
      aggregate Contract Price charged by the Contractor, and shall be obligated
      to pay indemnification for any damages pursuant to subsection (5) below.
      The Contractor shall recover ownership of all the property delivered to
      the Owner.

            

    

    

    
      	
              (5)

            	
              Upon
      the occurrence of either two events described in the preceding subsection,
      the Contractor shall be obligated to pay indemnification to the Owner for
      damages, including:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      Financial Costs associated with the Affected Facilities or the entire
      Solar Park, as applicable.  “Financial Costs” shall
      be understood to mean all costs, expenses, fees (whether up-front, early
      termination or of any other type) and interest paid by the Owner in
      respect of the financing documents entered into by the Owner with the
      Financial Institutions, including cancellation or breakage fees for any
      interest rate swap agreements entered into by the Owner with the Financial
      Institutions.

            

    

    

    The
Contractor acknowledges the validity of the amount, as determined by the Agent
under the financing documents, to be provided in the settlement statement that
will be delivered by the Agent to the Owner in which the factors used to
calculate the Financing Costs with respect to the Solar Facility or Facilities
or the Solar Park, as applicable, will be described.

    

    
      	
               
      

            	
              (ii)

            	
              The
      costs, expenses and damages incurred by the Owner as a result of, or with
      respect to, the early termination or the breach by the Contractor, duly
      certified by the Owner, plus an amount equal to *** euros for each
      Affected Facility (i.e., *** euros in the event of total termination or
      the amount that corresponds to the Affected Facilities in the event of a
      partial termination), to cover permitting
costs.

            

    

    

    

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    Concurrently
with the payments provided for in subsections 15.1(4) and 15.1(5), the Owner
agrees to take all necessary actions which are in its control to assign to the
Contractor, or its designee, ownership title (free of encumbrances and liens) to
the permits and authorizations relating to the Affected Facilities (or the Solar
Park in its entirety in the event of total termination), as well as
corresponding usage rights (free of encumbrances and liens) to the part of the
Site on which such Affected Facilities are located and the contractual rights in
those contracts relating to the Solar Park with respect to the Affected
Facilities.  For purposes of this paragraph, it shall be understood
that the Owner has assigned (free of encumbrances and liens) all permits and
authorizations for the Affected Facilities or the Solar Park, as applicable,
upon delivery to the Contractor of all documentation required by the Contractor
(and which must be contributed by the grantor) to immediately request the
approval by the competent administrative entity for the assignment of such
permits and authorizations.

    

    In the
event that a special purpose entity holds title to such permits and
authorizations and usage rights to the Site, the Owner agrees to transfer to the
Contractor, free of encumbrances and liens, all shares or participations
representing the entire share capital of such special purpose entity (provided
that such entity only holds title to the Affected Facilities).

    

    For
clarification purposes, in no event shall the above-referenced obligation be
construed as an obligation to achieve a specific result, and the Owner does not
assume any responsibility in the event that the assignment of the permits and
authorizations referred to in the previous paragraph cannot be completed as a
result of the failure to receive approval (when necessary) for such assignment
from the relevant government administration or entity or the Contractor’s
failure to comply with the requirements imposed on the Contractor by the holders
of such permits or authorizations.

    

    
      	
              (6)

            	
              Notwithstanding
      the provisions of subsections (4) and (5), if the Owner had the right to
      terminate the Contract, in whole or in part, as a result of the failure to
      achieve Start-up prior to September 29, 2008 for the reasons set forth in
      subsections 14.1(g) and 14.1(h) above, the Owner may not elect to return
      the Affected Facilities, if:

            

    

    

    
      	
               
      

            	
              (i)

            	
              prior
      to September 29, 2008 the Contractor pays to the Owner an amount that is
      sufficient to (a) restore the Debt Service Coverage Ratio (as defined in
      the financing documents referred to in Clause 14.1(5)(i)) to the Base Case
      (as defined in the financing documents referred to in Clause 14.1(5)(i))
      agreed to by the Financial Institutions and the Owner in such financing
      documents, and (b) cover the loss of profitability for the Owner’s
      shareholders, taking into account the tariffs which will be received by
      the Owner from the sale of power from the Solar Park. For such purposes,
      the Contractor acknowledges and accepts that the amount to be paid to the
      Owner (for the items set forth in the preceding subsection) will be
      proposed by the Agent for the Financial Institutions and negotiated
      between the Owner and the Contractor on the basis of the assumptions in
      the Base Case developed by the Owner and the Financial Institutions in
      connection with the financing documents;
and

            

    

    

    

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              (ii)

            	
              Start-up
      of the Affected Facilities shall have occurred prior to October 31,
      2008.

            

    

    

    The Owner may require the return of the
Solar Facilities for which the above requirements and Contractor payments have
not been met, each in accordance with the provisions of subsection (5)
above.

    

    
      	
              (7)

            	
              The
      Contractor is required to pay the amounts referred to in subsections (4)
      and (5) above to the Owner within *** days of the date of settlement of
      the amounts owed.

            

    

    

    
      	
              (8)

            	
              In
      all the foregoing instances, the Owner may, without prejudice to the
      reservation of rights to take all legal action to which it is entitled for
      the defense of its rights, adopt any or all of the following
      measures:

            

    

    

    
      	
               
      

            	
              a)

            	
              Offset
      any payments pending in favor of the Contractor by an amount equivalent to
      the balance in favor of the Owner (returning, in the event of complete
      termination, the Performance Bond or the Guarantee Bond, as applicable,
      once such offset has been made).

            

    

    

    
      	
               
      

            	
              b)

            	
              Enforce
      the Performance Bond and/or the Guarantee
Bond.

            

    

    

    
      	
               
      

            	
              c)

            	
              Withhold
      the Contractor’s materials, machinery and items belonging to the
      Contractor that are in the possession of the Owner, until the Contractor
      has fully paid all amounts due as a consequence of the
      termination.

            

    

    

    
      	
              14.2

            	
              Termination
      by the Contractor

            

    

    

    
      	
              (1)

            	
              The
      Contractor may terminate the Contract under the circumstances provided for
      under applicable law, in this Contract, or upon occurrence of any of the
      following events:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      voluntary filing by the Owner of a bankruptcy petition or the allowance of
      a bankruptcy petition filed by a third party against the Owner, or in the
      event of patent financial difficulties that would prevent the Owner from
      normally complying with the obligations arising under this Contract in
      cases different from the one provided under subsection (ii) below, unless
      its obligations are sufficiently guaranteed under this
      Contract.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              A
      delay in payment for a period in excess of sixty (60) days from the date
      on which payment should have been
made.

            

    

    

    

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              (iii)

            	
              Any
      other serious breach of a principal obligation of the Owner that might
      affect or prevent the successful conclusion of the Contract, or that is
      expressly designated herein as grounds for
  termination.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              A
      suspension of the works and services for causes attributable to the Owner
      for a period greater than three (3)
months.

            

    

    

    
      	
               
      

            	
              (v)

            	
              The
      dissolution of the Owner, or if a substantial portion of the assets of the
      Owner is transferred to another company, and such circumstance seriously
      prejudices the Owner’s capacity to perform the obligations set forth in
      this Contract.

            

    

    

    
      	
              (2)

            	
              The
      Contractor shall give to the Owner a period of thirty (30) days to cure
      the event, or any other longer period that may be agreed upon by the
      Parties. Such cure period shall not apply if the event giving rise to
      grounds for termination is one provided for in subsections (i) and (iv) of
      Clause 14.2(1) above. If the Owner fails to remedy such grounds for
      termination to the Contractor's satisfaction within such period, the
      Contract shall be terminated (in whole or in part, as
      applicable).

            

    

    

    
      	
              (3)

            	
              Upon
      termination of the Contract for any of the foregoing reasons, the Owner
      must:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Pay
      all of the Contractor’s outstanding
invoices.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Pay
      to the Contractor the value of the Work performed before termination and
      which is not yet included in the invoices. Accordingly, the Owner must pay
      to the Contractor the cost of the equipment already delivered to the
      Contractor or that it is legally required to accept under the contracts
      entered into with its suppliers and manufacturers, which shall become the
      property of the Owner if they had not already become
  so.

            

    

     

    However,
the Contractor undertakes to take such actions necessary or appropriate to
minimize the costs referred in this subsection. The Contractor shall include the
provisions required to that effect in the contracts with suppliers and
subcontractors.

     

    
      	
               
      

            	
              (iii)

            	
              Pay
      all duly authenticated damages that are sustained by the Contractor as a
      consequence of the contractual breach or early termination, including
      direct demobilization costs.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Return
      to the Contractor the Bonds received from the
  Contractor.

            

    

    

    
      	
              (4)

            	
              Upon
      the Owner’s compliance with the conditions set forth in the above
      subsection, the Contractor shall abandon the Site within a period of
      thirty (30) days and the Owner may complete the Work by itself or with
      another contractor, the Owner being entitled to request the Contractor to
      assign each and every contract signed by the Contractor and its
      subcontractors  (except contracts entered into for the supply of
      solar modules, supports and trackers or for the supply of technology and
      software, which the Owner may not assume). The Contractor is obligated to
      cooperate in good faith with the Owner to effect such
      assignments.

            

    

    

    

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              14.3

            	
              Termination
      due to Force
      Majeure

            

    

    

    
      	
               
      

            	
              In
      the event of termination of the Contract due to an event of Force Majeure, the
      provisions of subsections 14.2 (3) (i), (ii) and (iv) above shall
      apply.

            

    

    

    
      	
              15.

            	
              ASSIGNMENT
      AND SUBCONTRACTING

            

    

    

    
      	
              15.1

            	
              Assignment

            

    

     

    
      	
              (1)

            	
              The
      Contractor may not assign or transfer to third parties, in whole or in
      part, the economic, commercial or financial rights or credits arising
      under this Contract, or engage in any other transaction involving any type
      of disposition, encumbrance, commitment and/or transaction, in whole or in
      part, regarding such rights and credits, unless it has obtained the prior
      written approval of the Owner and the Financial Institutions. An
      assignment to other companies within the Contractor’s group that have the
      same technical capacity to perform the contractual obligations and that
      satisfy the requirements of the Direct Agreement is permitted,
      ***.

            

    

     

    
      	
              (2)

            	
              The
      Owner may only assign all or a portion of the rights and obligations
      arising under this Contract in favor of the Financial Institutions in
      accordance with Clause 17, or to any other third party with the prior
      written approval of the Contractor.

            

    

    

    
      	
              15.2

            	
              Subcontracting

            

    

    

    
      	
              (1)

            	
              The
      Contractor may subcontract the Work, provided the following conditions are
      met:

            

    

    

    
      	
               
      

            	
              (i)

            	
              All
      the subcontracts executed (except the contracts entered into for the
      supply and manufacture of solar modules, supports and trackers or for the
      supply of technology and software, which Owner may not assume) and all
      guarantees obtained from any of the suppliers or Subcontractors may be
      assigned at the request of the Owner in the event of termination of this
      Contract. For such purpose, the Contractor irrevocably undertakes to
      assign to the Owner and the Financial Institutions the rights arising from
      all the guarantees and subcontracts obtained from Authorized
      Subcontractors upon the expiration of the Guarantee Period or in the event
      of termination of the Contract.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      guarantees or subcontracts executed by the Contractor with Subcontractors
      or suppliers shall be consistent with the terms and provisions of this
      Contract.

            

    

    

    

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              (iii)

            	
              The
      Contractor shall deliver to the Owner, within a reasonable period after
      the request thereof, a copy without prices or other commercial terms, of
      all the contracts, agreements and guarantees signed with the
      Subcontractors (containing the waiver referred to in subsection (3)
      below)

            

    

    

    
      	
              (2)

            	
              In
      no event shall a contractual relationship be implied among the
      Subcontractors and the Owner. The Contractor shall remain liable for all
      of the activities of its Subcontractors and suppliers and for all
      contractual and labor obligations arising from the performance of their
      work; as well as for the actions, failures and negligence of any of its
      subcontractors or suppliers and the agents and employees thereof, under
      the same terms and conditions as if committed or performed by the
      Contractor itself, its agents or
employees.

            

    

    

    
      	
              (3)

            	
              The
      Owner shall not be liable vis-à-vis any Subcontractor or supplier, or
      vis-à-vis their employees, for any claims arising directly or indirectly
      from the Contract. For such purpose, the Contractor undertakes to procure
      an express and written waiver of the rights conferred by Article 1597 of
      the Civil Code from each
Subcontractor.

            

    

    

    
      	
              16.

            	
              LIABILITY
      AND DAMAGES

            

    

    

    
      	
              (1)

            	
              The
      Parties shall have the obligation to provide indemnification for those
      damages caused to the other Party as a consequence of the breach of this
      Contract. The Owner’s approval of the projects, calculations, drawings or
      other technical documents prepared by the Contractor, or the conduct of
      inspections or Tests do not release the Contractor from such liability,
      and do not imply that such liability must be shared by the
      Owner.

            

    

    

    
      	
               
      

            	
              Further,
      the recommendations made by the Owner or its representatives during the
      performance of the Contract or on occasion of inspections or Tests shall
      not give rise to an exemption, mitigation or excuse for the Contractor’s
      performance under this Contract, except to the extent such recommendations
      or observations were implemented despite the Contractor’s
      objection.

            

    

    

    
      	
              (2)

            	
              The
      Contractor shall be liable vis-à-vis the Owner for any loss or physical
      damage to the equipment, materials or assets owned by the Owner or third
      parties that is caused by the Contractor through the execution of the
      relevant Solar Facility Provisional Acceptance Certificate, and thereafter
      only when the Contractor is within the Site performing the Work, repairs
      or similar activities and causes the relevant
  damage.

            

    

    

    If the
Contractor fails to hold the Owner or the third parties harmless from the
above-mentioned damages, the Owner shall be entitled to redress such damages,
deducting the costs of repair from any amounts pending payment to the
Contractor, or by enforcement of the Bonds issued pursuant to this
Contract.

    

    

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              (3)

            	
              By
      application of Article 1596 of the Civil Code, it is expressly agreed that
      the Contractor shall also be liable for damages caused by the persons or
      entities employed by the Contractor in the performance of the Work,
      whether as employees, technicians, subcontractors or otherwise, from whom
      the same diligence owed by the Contractor shall be
    required.

            

    

    

    
      	
              (4)

            	
              The
      Parties expressly agree that in no event will a Party be liable for the
      so-called consequential or indirect damages, including loss of profits and
      loss of output, loss of use or loss of any contract or other damages that
      are considered to be indirect, except for cases involving willful
      misconduct or gross negligence, and without prejudice to the Contractor's
      obligation to pay the penalties agreed upon under this
      Contract.

            

    

     

    
      	
            	
              (5)

            	
              The
      Parties agree that any indemnity received by one of the Parties as
      beneficiary of any of the insurance taken out by them in connection with
      the Solar Park will be deducted from the respective claim for damages or,
      if such indemnity holds the Party in question harmless from the damages
      sustained, it shall bar such Party from claiming damages and require it to
      refund the excess, if any.  The Party causing the damages shall
      bear all deductibles, liability limits and any other deductions affecting
      the indemnities payable to the damaged Party by the insurance companies
      providing the insurance in accordance with the provisions
      hereof.

            

    

     

     

    
      	
              (6)

            	
              The
      maximum total liability of the Contractor hereunder shall not exceed, in
      the aggregate, an amount equal to *** (***%) percent of the Contract
      Price. The foregoing shall not affect to the Contractor’s obligation to
      make payments under Clause 14.1 in the event of the termination or partial
      termination of the Contract.

            

    

     

    

    
      	
              17.

            	
              OWNER
      FINANCING

            

    

    

    The
Contractor hereby acknowledges as fundamental to this Contract:

    

    
      	
               
      

            	
              (i)

            	
              the
      possibility that the Owner’s rights under this Contract may be fully or
      partially pledged or assigned as security, in one or successive instances,
      to the Financial Institutions.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      possibility that “direct agreements” that provide the Financial
      Institutions with “step-in” rights will be executed in the form agreed to
      prior to the execution of this Contract and which are attached hereto as
      Annex
      9;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      possibility that the right to receive indemnification to which the Owner
      may be entitled and which arise under the insurance policies purchased in
      accordance with the terms of this Contract may be pledged or assigned as
      security to the Financial Institutions (and the essential nature of
      subscribing the insurance policies upon the terms of the report issued by
      the Insurance Advisor in accordance with Clause
  11);.

            

    

    

    

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              (iii)

            	
              that
      the Financial Institutions and their advisors (including the Technical
      Advisor and the Insurance Advisor and any others) have the right to access
      the Site in order to inspect the performance of the work contemplated
      under this Contract, upon the terms contemplated in Clause
      6.2;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              the
      Technical Advisor’s right to observe all Capacity and Production Tests and
      the obligation to obtain its prior approval for the issuance of the Solar
      Park Provisional Acceptance Certificate, each Solar Facility Provisional
      Acceptance Certificate, the Final Acceptance Certificate and other actions
      for which the approval of the Technical Advisor is required in accordance
      with the form of Direct Agreement attached hereto as Annex
      9;

            

    

    

    
      	
               
      

            	
              (v)

            	
              the
      requirement to obtain the prior approval of the Financial Institutions for
      any change to the terms of this Contract upon the terms contemplated
      herein;

            

    

    

    
      	
               
      

            	
              (vi)

            	
              the
      Contractor’s obligation to pay any amounts owed to the Owner under this
      Contract to the account, if any, indicated in writing by the Financial
      Institutions;

            

    

    

    All of
the foregoing is without prejudice to the other rights expressly granted in
favor of the financial Institutions pursuant to other clauses of this
Contract.

    

    
      	
              18.

            	
              CONFIDENTIALITY

            

    

    

    
      	
              (1)

            	
              The
      Parties agree that this Contract and the Annexes hereto, and any written
      or electronic information or documentation that any of the Parties
      furnishes to the other for the performance of this Contract (including,
      without limitation, technical documentation, plans, information,
      procedures, patents and licenses) are confidential. Therefore, the Parties
      undertake to keep the information confidential and to refrain from
      disclosing, providing to third parties or using such information unless
      such documentation and information (i) is known by the public without any
      breach of this confidentiality commitment, (ii) has been legally obtained
      from a third party, (iii) is requested by a judicial or governmental
      authority, or (iv) the delivery of such documentation and information is
      made in compliance with any legal obligations enforced upon the disclosing
      Party.

            

    

    

    
      	
              (2)

            	
              The
      Parties agree that the above shall not apply to any disclosure of
      information made by any of the Parties to other entities of their Group
      (within the meaning of Article 4 of Securities Market Law 24/1988 of July
      28), regulatory, tax or governmental authorities, and their respective
      advisors and auditors, internal or external, in relation to the
      information requested by them for the development of the investigations,
      assessments and works carried out by them, provided that, in each and
      every one of such cases, the parties receiving the confidential
      information have assumed commitments of confidentiality vis-à-vis the
      disclosing party on terms similar to this one. In this case, such
      entities, authorities, advisors or auditors shall have free access to the
      books, files, documents and information held by the requested Party, and
      prior authorization is therefore not required from the other Parties to
      furnish information to such entities, authorities, advisors and/or
      auditors regarding this Contract and the Annexes hereto and any other
      information or written documentation relating
  hereto.

            

    

    

    

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              (3)

            	
              In
      particular, the Owner is authorized to transmit information regarding this
      Contract to the Owner and the Financial Institutions and to those
      investors with interests in the construction and commercial operation of
      the Solar Park who reasonably request information with respect to this
      Contract, provided that they have assumed vis-à-vis the provider of such
      information confidentiality undertakings upon terms substantially similar
      hereto.  Further, the Owner hereby authorizes the Contractor to
      provide such information to the Financial
  Institutions;

            

    

    

    
      	
              (4)

            	
              The
      confidentiality commitment must be observed until the passage of two (2)
      years from the date of execution of the Final Acceptance Certificate or
      any termination of the Contract, regardless of the cause
      thereof.

            

    

    

    
      	
              19.

            	
              NOTICES

            

    

    

    
      	
              (1)

            	
              All
      notices and communications between the Parties for the purposes of this
      Contract shall be made in writing, by certified mail, fax or courier
      service, to the following
addresses:

            

    

    

    To
the Contractor:

    

    SunPower Energy Systems España,
S.L.

    Paseo de
la Castellana, 86, 8o

    28046
Madrid, Spain

    Fax: +34
915644451

    Attn:
General Manager

    

    With a copy
to:

    SunPower Systems
SA

    42-44
Avenue Cardinal Mermillod 1227 Carouge - Switzerland

    Fax: +41
22 304 1405

    Attn.
Marco Antonio Northland

    

    To
the Owner:

    

    Moralas
Renovables, S.L.

    Calle
Núñez de Balboa, 120, 7o, 28006, Madrid

    Fax: +34
91 562 3593

    Attn:
Juan Carlos Sirviente Rodrigo

    

    With a copy
to:

    Sylcom
Solar

    Laguna
del Marquesado 10 - N8

    28021
Madrid

    Attn:
Pablo Valera

    

    

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              (2)

            	
              The
      Parties may change the above addresses by written notice to each other
      given in the form and to the addresses mentioned
  above.

            

    

    

    
      	
              (3)

            	
              Notices
      shall be deemed received on the third (3rd) Business Day following the
      dispatch thereof when sent by courier service (unless there is evidence of
      earlier receipt) or the Business Day following the date on which there is
      evidence of the receipt thereof in the case of faxes and certified
      mail.

            

    

    

    
      	
              20

            	
              LAW
      AND JURISDICTION

            

    

    

    
      	
              (1)

            	
              This
      Contract and all issues that may arise between the Parties in relation
      hereto or in connection herewith shall be exclusively governed by
      generally applicable Spanish legislation, to which the Contractor and the
      Owner expressly submit.

            

    

    

    
      	
              (2)

            	
              The
      Parties agree that any litigation, dispute, issue or claim resulting from
      the performance or interpretation of this Contract, or directly or
      indirectly related hereto, shall be definitively resolved by arbitration
      at law before the Civil and Commercial Court of Arbitration (Corte Civil y Mercantil de
      Arbitraje (CIMA)) of Madrid in accordance with the Procedural
      Regulations thereof.

            

    

    

    
      	
              (3)

            	
              The
      Arbitral Tribunal shall be composed of three (3) arbitrators appointed
      from CIMA’s list of arbitrators: one by the Contractor and the other by
      the Owner, and the two arbitrators so appointed shall appoint the third
      one, who shall act as chairman of the arbitral tribunal. Should the two
      first arbitrators fail to reach an agreement on the appointment of the
      third arbitrator within ten (10) Business Days following the date of
      acceptance of office by the second arbitrator, such arbitrator shall be
      appointed by CIMA.

            

    

    

    
      	
              (4)

            	
              The
      arbitration shall be conducted, and the award shall be rendered, in Madrid
      (Spain) and in the Spanish
language.

            

    

    

    
      	
              (5)

            	
              The
      Parties therefore expressly waive any other jurisdiction to which they may
      be entitled under Law, and commit to abide by and submit to the
      arbitration award that may be
rendered.

            

    

    

    
      	
              (6)

            	
              The
      Parties expressly waive any other jurisdiction that may apply and submit
      to the jurisdiction of the Courts and Tribunals of the city of Madrid for
      any litigation, dispute or claim that by mandate of law may not be
      resolved by, or submitted to, the arbitration provided under this Clause
      or, if applicable, for the formalization of the arbitration or the
      enforcement of the arbitral award.

            

    

    

    
       

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    In
witness whereof, the Parties execute this Contract in two (2) counterparts, each
of them being an original and having the same effect, in the place and on the
date first set forth above.  It is expressly acknowledged that Mr.
Marco Antonio Northland, whose signature appears below, has hereby authorized
Ms. Nuria Casellas Cabrerizo, having a National Identity Document (DNI) number
43679456H, to review the pages hereof as evidence of the agreement of the
Contractor to the content of this document.

    

    

    
      	 
      	 
      	 
      
	
              MORALAS
      RENOVABLES, S.L.

            	 
      	
              SUNPOWER
      ENERGY SYSTEMS SPAIN, S.L.U.

            

    

    

    

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    ANNEX
1

    ***

    

    

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    ANNEX 2

    

    
    

    
      SCOPE
OF WORK.  TECHNICAL SPECIFICATIONS

    

    
    

    

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    ANNEX
3

     

    
      IMPLEMENTATION
SCHEDULE

    
    

     

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    ANNEX
4

    TEST
PROTOCOLS

    

    

    Protocol
for tests prior to the provisional acceptance of each Solar Facility and of the
Solar Park

    

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      ANNEX 5

       

      MINIMUM
INVENTORY AND SUPPLY OF SPARE PARTS

    
    

    

    The
Contractor must make available to the Owner, pursuant to the terms of
Clause 6.3, the following inventory of spare parts:

    

    

    
      	
              Part

            	 	
              Units
      per

              MW

            	 	 	
              Total

              quantity

            	 
	
              Mechanical
      part

            	 	 	 	 	 	 
	
              Drive
      bellows boot

            	 	 	0.4	 	 	 	2	 
	
              Ground
      braids, torque tube to pier

            	 	 	5	 	 	 	25	 
	
              Module
      mounting assemblies

            	 	 	5	 	 	 	25	 
	
              MC
      connectors

            	 	 	5	 	 	 	25	 
	
              Actuator
      (endless screw)

            	 	 	0.2	 	 	 	1	 
	
              Low
      voltage

            	 	 	 	 	 	 	 	 
	
              Solar
      panels

            	 	 	10	 	 	 	50	 
	
              Orientation
      motor

            	 	 	0.4	 	 	 	2	 
	
              GPS
      + PLC + clinometer

            	 	 	0.4	 	 	 	2	 
	
              SunPower
      controller (no housing)

            	 	 	0.4	 	 	 	2	 
	
              Inverter

            	 	 	0.2	 	 	 	1	 
	
              Communications
      card for the inverter

            	 	 	0.4	 	 	 	2	 
	
              Fuse
      set for the inverter

            	 	 	0.4	 	 	 	2	 
	
              Set
      of overvoltage protective devices for the inverter

            	 	 	0.4	 	 	 	2	 
	
              DC
      fuses

            	 	 	5	 	 	 	25	 
	
              Set
      of overvoltage protective devices for the junction box

            	 	 	0.4	 	 	 	2	 
	
              Junction
      box

            	 	 	0.4	 	 	 	2	 
	
              Fan
      unit

            	 	 	0.4	 	 	 	2	 
	
              Set
      of sensors for the weather station

            	 	 	0.2	 	 	 	1	 
	
              Communications

            	 	 	 	 	 	 	 	 
	
              MOXA
      cards

            	 	 	0.2	 	 	 	1	 
	
              Routers,
      switches, hubs, etc.

            	 	 	0.2	 	 	 	1	 
	
              Medium
      voltage

            	 	 	 	 	 	 	 	 
	
              MV
      fuses (if protective cabinets with fuses are installed)

            	 	 	0.2	 	 	 	1	 
	
              Protective
      relay

            	 	 	0.2	 	 	 	1	 
	
              160
      kVA transformer

            	 	 	0.2	 	 	 	1	 

    

    

    

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    ANNEX 6

    

    
       
MODULE
DEGRADATION GUARANTEE

    

    

    The
guarantee described in Section 6 of the Technical Specifications, as
incorporated into Annex 2.

    

    

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ANNEX
7

    

    

    
       
FORMS
OF SURETY BONDS

    

    

    Form of Performance
Bond

    

    [Name of the
Bank] (hereinafter, the “BANK”) hereby furnishes to
SUNPOWER ENERGY SYSTEMS, S.L.U.
with a registered address at [l], recorded in [l] (hereinafter the
“Guaranteed Party”) an
irrevocable, absolute, guarantee payable on demand to [l] (the “Beneficiary”), guaranteeing
the performance of all payment obligations assumed by the Guaranteed Party
vis-à-vis the Beneficiary (hereinafter, the “Guaranteed Obligations”) under
the Turnkey Construction Contract entered into by and between the Guaranteed
Party and the Beneficiary on even date herewith with respect to the construction
and start-up of a solar park located in [l] (hereinafter, the
“Contract”).

    

    The BANK
understands and acknowledges that the right to require the prior exhaustion of
the debtor’s assets, the right to require the prior exhaustion of remedies
against the debtor, and the benefit of division of the debt (beneficios de excusión, orden y
division), or any other rights, powers or exceptions that tend to prevent
or delay payment to the Beneficiary of the guaranteed amount shall not be
applicable to this Bond, waiving such benefits of the right to require the prior
exhaustion of the debtor’s assets, the right to require the prior exhaustion of
remedies against the debtor, and the benefit of division of the debt, and any
other rights, powers or exceptions to which the BANK may be entitled.
Additionally, the BANK shall attend to its payment obligation upon first demand
of the Beneficiary, even in the event of objection to payment by the Guaranteed
Party.

    

    The
Beneficiary may seek payment directly from the BANK to obtain performance of the
Guaranteed Obligations. The BANK shall make payment of the amounts claimed under
this Bond upon receipt of the timely requests and without requiring the prior
enforcement of any other guarantee furnished in relation to the Guarantee
Obligations or any other action whatsoever. The BANK shall pay the amounts due
on sight, without the need to seek any consent from the Guaranteed Party. The
BANK shall be liable vis-à-vis the Beneficiary for up to a maximum amount of
[l].

    

    This Bond
may be enforced on one or more occasions, up to the maximum amount set forth
above.

    

    Consequently,
the BANK shall pay to the Beneficiary any amount up to the guaranteed amount
within a period of five (5) Business Days from the date payment is requested by
the Beneficiary through a written request in which the Beneficiary confirms the
existence of a breach and the cause thereof according to the relevant provision
of the Contract, without it being necessary for the Beneficiary to submit any
additional documentation or evidence whatsoever.

    

    All sums
due from the BANK under this Bond shall be paid net of any indirect tax,
withholding or commission and without any type of offset or deduction. If the
BANK, in the performance of this Bond, is forced by any rule or governmental or
judicial authority to make any kind of offset, tax payment, withholding or
deduction from the payments to the Beneficiary, the BANK shall pay to the
Beneficiary any additional amount necessary to ensure that the net amount
received by the Beneficiary (free of indirect taxes, set-offs, deductions or
withholdings) is equal to the amount that the Beneficiary would have received if
such set-off, deduction or withholding from the BANK’s payment was not
required.

    

    

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    The
payment obligations assumed by the BANK under this Guarantee are of a commercial
nature and shall not be affected and shall be fully binding in spite of any
circumstances or changes that might affect the Contract, the Guaranteed Party or
the BANK. In particular, they shall remain in full force even if the Guaranteed
Party or the BANK is in bankruptcy, court administration or any other similar
situation related to their solvency. Furthermore, the Guaranteed Obligations
shall not be deemed satisfied and shall remain in full force and effect if the
Beneficiary, for any cause and at any time, is required to return the payments
made by the BANK under the Bond. Additionally, the BANK represents that the
scope of the guarantee granted under this Bond shall not be modified in any way
due to any action that the Beneficiary or the BANK may take with respect to
approval of any agreement that might result from the bankruptcy of the
Guaranteed Party, the BANK’s obligation remaining unchanged under the agreed
terms as if such action did not occur.

    

    This Bond
shall automatically expire on the date of execution of the Solar Park
Provisional Acceptance Certificate, and in any event, on January 31, 2009, on
which date the right to demand payment shall expire.

    

    The terms
of this Guarantee may not be unilaterally amended by the BANK, the written
consent of the Beneficiary being necessary for such purpose. The Guaranteed
Party may assign or pledge this Guarantee in favor of the financial institutions
providing the financing for the payments contemplated in the
Contracts.

    

    This
Guarantee is subject to Spanish Law and the jurisdiction of the Courts of the
city of Madrid, and for such purposes the address for notices is established in
Madrid at ________________.

    

    This
Guarantee has been recorded on even date herewith in the Special Registry of
Guarantees of the BANK under No. [l].

    

    In [l], on the [l] day of [l], [l].

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    

    
      
        
           

        

        
          60

          
            

          

        

        
           

        

      

    

    

    Form of Guarantee
Bond

    

    [Name of the
Bank] (hereinafter, the “BANK”) hereby furnishes an
irrevocable, absolute, guarantee payable on demand to SUNPOWER ENERGY SYSTEMS,
S.L.U., with a registered address at [l], recorded in [l] (hereinafter, the
“Guaranteed Party”) in
favor of [l] (the
“Beneficiary”),
guaranteeing the performance of all payment obligations assumed by the
Guaranteed Party vis-à-vis the Beneficiary (hereinafter, the “Guaranteed Obligations”) under
the Turnkey Construction Contract entered into by and between the Guaranteed
Party and the Beneficiary on [l] with respect to the
construction and start-up of a solar park located in [l] (hereinafter, the
“Contract”).

    

    The BANK
understands and acknowledges that the right to require the prior exhaustion of
the debtor’s assets, the right to require the prior exhaustion of remedies
against the debtor, and the benefit of division of the debt (beneficios de excusión, orden y
division), or any other rights, powers or exceptions that tend to prevent
or delay payment to the Beneficiary of the guaranteed amount shall not be
applicable to this Bond, waiving such benefits of the right to require the prior
exhaustion of the debtor’s assets, the right to require the prior exhaustion of
remedies against the debtor, and the benefit of division of the debt and any
other rights, powers or exceptions to which the BANK may be entitled.
Additionally, the BANK shall attend to its payment obligation upon first demand
of the Beneficiary, even in the event of objection to payment by the Guaranteed
Party.

    

    The
Beneficiary may seek payment directly from the BANK to obtain performance of the
Guaranteed Obligations. The BANK shall make payment of the amounts claimed under
this Bond upon receipt of the timely requests and without requiring the prior
enforcement of any other guarantee furnished in relation to the Guaranteed
Obligations or any other action whatsoever. The BANK shall pay the amounts due
on sight, without the need to seek any consent from the Guaranteed Party. The
BANK shall be liable vis-à-vis the Beneficiary for up to a maximum amount of
[l].

    

    This
Guarantee may be enforced on one or more occasions, up to the maximum amount set
forth above.

    

    Consequently,
the BANK shall pay to the Beneficiary any amount up to the guaranteed amount
within a period of five (5) Business Days from the date payment is requested by
the Beneficiary through a written request in which the Beneficiary confirms the
existence of a breach and the cause thereof according to the relevant provision
of the Contract, without it being necessary for the Beneficiary to submit any
additional documentation or evidence whatsoever.

    

    All the
sums due from the BANK under this Guarantee shall be paid net of any indirect
tax, withholding or commission and without any type of set-off or deduction. If
the BANK, in the performance of this Guarantee, is forced by any rule or
governmental or judicial authority to make any kind of offset, tax payment,
withholding or deduction from the payments to the Beneficiary, the BANK shall
pay to the Beneficiary any additional amount necessary to ensure that the net
amount received by the Beneficiary (free of indirect taxes, set-offs, deductions
or withholding) is equal to the amount that the Beneficiary would have received
if such set-off, deduction or withholding from the BANK’s payment was not
required.

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    

    
      
        
           

        

        
          61

          
            

          

        

        
           

        

      

    

    

    The
payment obligations assumed by the BANK under this Bond are of a commercial
nature and shall not be affected and shall be fully binding in spite of any
circumstances or changes that might affect the Contract, the Guaranteed Party,
or the BANK. In particular, they shall remain in full force even if the
Guaranteed Party or the BANK is in bankruptcy, court administration or any other
similar situation related to their solvency. Furthermore, the Guaranteed
Obligations shall not be deemed satisfied and shall remain in full force and
effect if the Beneficiary, for any cause and at any time, is required to return
the payments made by the BANK under the Bond. Additionally, the BANK represents
that the scope of the guarantee granted under this Bond shall not be modified in
any way due to any action that the Beneficiary or the BANK may take with respect
to approval of any agreement that might result from the bankruptcy of the
Guaranteed Party, the BANK’s obligation remaining unchanged under the agreed
terms as if such action did not occur.

    

    This
Guarantee shall automatically expire on the date of execution of the Solar Park
Final Acceptance Certificate, and in any event, on January 31, 2012, on which
date the right to demand payment shall expire.

    

    The terms
of this Guarantee may not be unilaterally amended by the BANK, the written
consent of the Beneficiary being necessary for such purpose. The Guaranteed
Party may assign or pledge this Guarantee in favor of the financial institutions
providing the financing for the payments contemplated in the
Contracts.

    

    This
Guarantee is subject to Spanish Law and the jurisdiction of the Courts of the
city of Madrid, and for such purposes the address for notices is established in
Madrid at ________________.

    

    This
Guarantee has been recorded on even date herewith in the Special Registry of
Guarantees of the BANK under No. [l].

    

    In [l], on the [l] day of [l], [l].

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    

    
      
        
           

        

        
          62

          
            

          

        

        
           

        

      

    

    

    
       
ANNEX 8

    

    

    
       
AUTHORIZED
EQUIPMENT

    

    

    

    Modules:

    

    -
Powerlight

    -
SunPower

    -
Yingli

    -
Suntech

    -
Evergreen Solar

    -
Sanyo

    

    Trackers:

    

    -
Powertracker

    

    Inverters:

    

    -
Xantrex

    -
SMA

    -
Siemens

    -
Ingeteam

    

    Medium-Voltage
Electrical Power Lines

    

    
      	
              BICC
      GENERAL CABLE

            	
              (www.bicc.es)

            
	
              PRYSMIAN
      CABLES & SYSTEMS (PIRELLI CABLES Y SISTEMAS)

            	
              (www.es.prysmian.com)

            
	
              NEXANS

            	
              (www.nexans.com)

            
	
              SOLIDAL
      CONDUCTORES ELÉCTRICOS

            	
              (www.solidal.pt/)

            
	
              INCASA

            	
              (www.incasa-cables.com)

            
	
              ECN
      CABLE GROUP

            	
              (www.ecn.es)

            

    

    

    Transformer
and Sectioning Stations

    

    1.1
Cells

    

    
      1.1.1 
Encapsulated
cells:

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              MANUFACTURAS
      ELÉCTRICAS

            	
              (www.me-sa.es)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              VEI
      ELECTRIC SYSTEMS

            	
              (www.vei.it)

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    

    
      
        
           

        

        
          63

          
            

          

        

        
           

        

      

    

    

    
      	
              1.1.2

            	
              SF6-insulated
      cells and switchgear in metal
housings

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              VEI
      ELECTRIC SYSTEMS

            	
              (www.vei.it)

            

    

    

    
      	
              1.2

            	
              Power
      transformers

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              IMEFY

            	
              (www.imefy.com)

            
	
              ALKARGO

            	
              (www.iberapa.es)

            
	
              ABB
      TRAFO

            	
              (www.abb.com)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              INCOESA

            	
              (www.incoesa.com)

            
	
              OASA

            	
              (www.oasanet.com)

            
	
              CONSTRUCCIONES
      ELÉCTRICAS JARA

            	
              (www.trafojara.com)

            
	
              LAYBOX

            	
              (www.laybox.com)

            

    

    

    
      	
              1.3

            	
              Prefabricated
      housings

            

    

    

    
      	
              POSTES
      NERVIÓN

            	
              (www.postesnervion.es/)

            
	
              PREPHOR

            	
              (www.prephor.com)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            

    

    

    Low-voltage
lines

    

    
      	
              BICC
      GENERAL CABLE

            	
              (www.bicc.es)

            
	
              PRYSMIAN
      CABLES & SYSTEMS (PIRELLI CABLES Y SISTEMAS)

            	
              (www.es.prysmian.com)

            
	
              NEXANS

            	
              (www.nexans.com)

            
	
              SOLIDAL
      CONDUCTORES ELÉCTRICOS

            	
              (www.solidal.pt)

            
	
              INCASA

            	
              (www.incasa-cables.com)

            
	
              ECN
      CABLE GROUP

            	
              (www.ecn.es)

            
	
              CONTECSA

            	
              (www.contecsa-spain.com)

            
	
              CABELTE

            	
              (www.cabelte.pt)

            
	
              MIGUELEZ

            	
              (www.miguelez.com)

            

    

    

    Low-voltage
panels

    

    
      	
              1.1

            	
              Rectifiers
      – battery chargers

            

    

    

    
      	
              ZIGOR

            	
               (www.zigor.com)

            
	
              SAFT
      POWER SYSTEMS IBERICA S.L.

            	
               (www.spsi.es)

            
	
              EMISA
      - EXIDE

            	
               (www.exide.com)

            
	
              ENERTRON

            	
               (www.enertron.net)

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    

    
      
        
           

        

        
          64

          
            

          

        

        
           

        

      

    

    

    
      	
              1.2

            	
              Protective
      cabinets and A.S. auxiliary services
control

            

    

    

    
      
        	
                PROYECTOS
      MECA

              	
                (www.proymeca.com)

              
	
                CYMI

              	
                (www.cymi.es)

              
	
                ABB
      SISTEMAS INDUSTRIALES

              	
                (www.abb.com)

              
	
                CUADRELEC

              	
                (www.cuadrelec.com)

              
	
                PMC
      Ingeniería

              	 
      

      

    
      	
              1.3

            	
              Exterior
      cabinets

            

    

    

    
      	
              PINAZO

            	
              (www.pinazo.com)

            
	
              ELDON

            	
              (www.eldon.es)

            
	
              HIMEL

            	
              (www.himel.com)

            
	
              RITTAL

            	
              (www.rittal.es)

            

    

    

    Electrical
protective devices

    

    
      	
              1.1

            	
              Indirect
      and direct protective devices for MV
cells

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              GENERAL
      ELECTRIC

            	
              (www.GEIndustrial.com)

            
	
              TEAM
      ARTECHE

            	
              (www.teamarteche.es)

            
	
              ZIV

            	
              (www.ziv.com)

            

    

    

    
      	
              1.2

            	
              Direct
      LV protective devices

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              MOELLER

            	
              (www.moeller.es)

            
	
              ABB
      SISTEMAS INDUSTRIALES

            	
              (www.abb.com)

            
	
              GOULD

            	
              (www.gould.com)

            

    

    

    
      	
              1.3

            	
              Metal-oxide
      lightning rods

            

    

    

    
      	
              TYCO
      ELECTRONICS RAYCHEM GMBH

            	
              (www.energy.tycoelectronics.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              INAEL

            	
              (www.inael.es)

            
	
              ABB

            	
              (www.abb.es)

            
	
              CELSA

            	
              (www.celsa.com)

            

    

    

    Supervisory
System

    

    
      	
              1.1

            	
              PLCs
      programmable logic controllers

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC

            	
              (www.schneider-electric.com)

            
	
              BECKHOFF

            	
              (www.beckhoff.es)

            
	
              ROCKWELL
      AUTOMATION

            	
              (www.rockwellautomation.com)

            
	
              GENERAL
      ELECTRIC FANUC

            	
              (www.gefanuc.com)

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          65

          
            

          

        

        
           

        

      

    

    

    
      	
              1.2

            	
              Industrial
      communications

            

    

    

    
      	
              HIRSCHMANN

            	
              (www.hirschmann.com)

            
	
              MOXA

            	
              (www.moxa.com)

            

    

    

    
      	
              1.3

            	
              SCADA
      system control and data acquisition
platforms

            

    

    

    
      	
              WONDERWARE

            	
              (www.wonderware.com)

            
	
              GENERAL
      ELECTRIC

            	
              (www.gefanuc.com)

            

    

    

    
      	
              1.4

            	
              Optical
      fiber

            

    

    

    
      	
              NEXANS

            	
              (www.nexans.com)

            
	
              CORNING

            	
              (www.corning.com)

            
	
              OPTRAL

            	
              WWW.OPTRAL.COM

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY FILED WITH THE
COMMISSION***

    

     

    
      
        
        

      

      
        66

        
          

        

      

      
        
        

      

    

     

    ANNEX
9

    

    
       
FORM
OF DIRECT AGREEMENT

    

    
      

      

      ***
CONFIDENTIAL MATERIAL REDACTED AND

      
         
SEPARATELY FILED WITH THE
COMMISSION***

      

       

    

    
      
        
           

        

        
          67

          
            

          

        

        
           

        

      

    

    

     DIRECT
AGREEMENT

    

    between

    

     SUNPOWER
ENERGY SYSTEMS SPAIN, S.L.U

    

    as
Contractor

    

    and

    

    MORALAS
RENOVABLES, S.L.U.

    

    as
Owner

    

    and

    

    CAJA
CASTILLA LA MANCHA

    

    as
Agent

     

     

     

     

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          68

          
            

          

        

        
           

        

      

    

    

    Madrid,
on the [l] day of
November, 2007.

    

    APPEARING
PARTIES

    

    
      Party of
the first part,

    

    

    
      	
              (A)

            	
              SUNPOWER ENERGY SYSTEMS SPAIN,
      S.L.U.  (the “Contractor”)

            

    

    

    Party of
the second part,

    

    
      	
              (B)

            	
              MORALAS RENOVABLES,
      S.L.  (the “Owner”).

            

    

    

    Party of
the third part,

    

    
      	
              (C)

            	
              CAJA CASTILLA LA MANCHA
      (the “Agent”).

            

    

    

    All of
whom are hereinafter referred to collectively as the "Parties."

    

    The
persons appearing on behalf of each Party, as well as their powers of
representation and corresponding grants of authority are set forth on Annex 1 hereto.

    

    RECITALS

    

    
      	
              I.

            	
              The
      Owner and the Contractor have executed on even date
    herewith:

            

    

    

    
      	
               
      

            	
              (i)

            	
              a
      “turn-key” construction contract (the “Construction Contract”)
      for the construction and start-up of a solar park in Manzanares (Ciudad
      Real), composed of fifty (50) solar facilities with a unit capacity at the
      panels between 115 y 122 kWp y 100 kW at the inverter (the “Solar
      Park”);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              a
      maintenance agreement (the “Maintenance Agreement”)
      for the performance by Contractor of the maintenance Work relating to the
      Solar Park.

            

    

    

    
      	
              II.

            	
              In
      order to finance, among other things, the payments that are the
      responsibility of the Owner under the Construction Contract, the Owner has
      entered into the following contracts, on even date herewith, registered as
      public instruments before the Madrid Notary Mr. [l];

            

    

    

    
      	
               
      

            	
              (i)

            	
              a
      credit agreement in the maximum amount of [l] euros
      (hereinafter, the “Credit
      Agreement” or the “Loan”) with the Agent
      and [l].

            

    

    

    
      	
               
      

            	
              (ii)

            	
              an
      interest rate hedge agreement (CMOF) and its corresponding Schedule with
      [l], to cover
      interest rate fluctuation risks relating to the Loan (hereinafter, the
      master agreement and its Schedule together with the confirmations to be
      executed in connection therewith, the “Interest Rate Hedge
      Agreement”).

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          69

          
            

          

        

        
           

        

      

    

    

    [l], together with its
successors and assigns with respect to the Interest Rate Hedge Agreement, and
the institutions which at any given time make up the credit institutions under
the Credit Agreement are hereinafter collectively referred to as the “Financial Institutions.”

    

    
      	
              III.

            	
              To
      guarantee the Owner’s obligations under the Credit Agreement and the
      Interest Rate Hedge Agreement (hereinafter, collectively, the “Guaranteed Contracts”)
      the Owner has granted on even date herewith (among others) a pledge
      agreement, registered as a public instrument with the Madrid Notary Mr.
      [l], pursuant
      to which the rights under the Construction Contract and the Maintenance
      Agreement (among others) were pledged to the Financial Institutions (the
      “Pledge”).

            

    

    

    
      	
              IV.

            	
              In
      consideration of the premises, and as a fundamental condition to the
      execution of the Guaranteed Contracts by the Financial Institutions, the
      Parties have agreed to execute this Contract whereby the Contractor
      assumes certain obligations to the Financial Institutions with respect to
      the Construction Contract, the Maintenance Agreement and the Guaranteed
      Contracts, as follows.

            

    

    

    CLAUSES

    

    
      	
              1.

            	
              DEFINED
      TERMS

            

    

    

    Capitalized
terms used in this Agreement and not otherwise defined herein shall have the
respective meanings ascribed thereto in the Construction Contract.

    

    
      	
              2.

            	
              PLEDGE

            

    

    

    
      	
              (1)

            	
              The
      Contractor hereby pledges all rights to receive payment from the Owner
      under the Construction Contract and the Maintenance
    Agreement.

            

    

    

    
      	
              (2)

            	
              As
      a consequence of the foregoing, except in the event of receipt of a
      written notice from Agent that the Pledge has been cancelled, the
      Contractor agrees:

            

    

    

    
      	
               
      

            	
              (i)

            	
              not
      to convey or create any type of pledge, charge, lien or other security
      right over the Contractor’s rights to receive payments under the
      Construction Contract or the Maintenance Agreement, without the express
      prior written approval of the
Agent;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              not
      to honor any notice or instruction from the Owner that contravenes or
      modifies the terms of the Pledge or of this
  Contract;

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          70

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              (iii)

            	
              to
      immediately notify the Agent of any breach by the Owner of its obligations
      under the Construction Contract or the Maintenance
    Agreement;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              to
      pay any amounts payable by the Contractor to the Owner under the
      Construction Contract or the Maintenance Agreement to the Owner’s account
      no. [l] (the
      “Principal
      Account”), or to such other separate account as the Agent and the
      Owner may jointly specify in writing. The Contractor acknowledges and
      agrees that a payment made to any other current account or made in any
      other manner shall not be considered a full discharge for the
      Contractor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              upon
      receipt of written notice from the Agent declaring the enforcement of the
      Pledge, to deposit or transfer all funds relating to the payment rights
      under the Construction Contract and/or the Maintenance Agreement in favor
      of the Agent to the account designated by the Agent in
      writing.

            

    

    

    
      	
              3.

            	
              NOTICE
      OF EARLY TERMINATION EVENTS. BREACH BY THE OWNER.
  

            

    

    

    
      	
              (1)

            	
              The
      Contractor agrees to provide notice to the Financial Institutions (through
      the Agent) of the occurrence of any event of early termination of the
      Construction Contract and/or the Maintenance Agreement, or of its own
      intention to terminate either of such Contracts, by sending to the Agent a
      copy of any notice sent to the Owner (which shall include, at a minimum,
      the proposed date of termination of the Construction Contract and/or the
      Maintenance Agreement –subject to the terms of subsection (2) below- and
      the Contractor’s stated basis for such
  termination).

            

    

    

    
      	
              (2)

            	
              The
      Contractor acknowledges agrees that it may not, under any circumstances,
      terminate the Construction Contract or the
      Maintenance  Agreement without first giving notice to the Agent
      as provided for in the above subsection, and that, during the period from
      the Agent’s receipt of such notice until fifteen (15) calendar days from
      the date on which the Agent received such notice, the Agent may (but is
      not so obligated), with the prior approval of the Financial Institutions
      in accordance with the agreed majority voting percentages agreed to among
      the Financial Institutions, take such measures as are necessary or
      advisable to cure or eliminate such event of early termination under the
      Construction Contract and/or the Maintenance
  Agreement.

            

    

    

    

    
      	
              4.

            	
              CHANGES
      TO THE CONSTRUCTION CONTRACT AND ACTIONS OF THE TECHNICAL ADVISOR
      

            

    

    

    4.1           Changes
and roles with respect to the Construction Contract 

    

    The
Contractor hereby acknowledges and agrees that:

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          71

          
            

          

        

        
           

        

      

    

    

    
      	
               
      

            	
              (i)

            	
              it
      may not agree to any change to the Construction Contract or any Change
      Order or any other document that contains an agreement to make the changes
      contemplated by Clauses 2.4(4), 5.1(3) and 6.5(3) of the Construction
      Contract without receiving the prior approval of the Financial
      Institutions (the foregoing is without prejudice to the Contractor’s
      rights under such Clauses);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              except
      with respect to the assumed consent contemplated by Clause 4.3 of the
      Construction Contract, the approval of the Technical Advisor must be
      obtained in order for the Owner to approve a Payment Milestone
      contemplated by such Clause;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              the
      Technical Advisor must be present to observe the performance of the
      Performance Tests, the Overall Test, the Production Tests and the
      inspections required for execution of the Solar Facilities Provisional
      Acceptance Certificates, the Solar Park Provisional Acceptance
      Certificate, and the Final Acceptance Certificate, in accordance with the
      notice periods set forth in Clauses 5.2 (1), 8.4(2) and 9(1) of the
      Construction Contract. The periods provided for in such Clauses may not
      begin to run if the Technical Advisor has not been invited to observe
      within the notice periods provided in such Clauses.  Results of
      tests and inspections referred to in this subsection that were obtained
      prior to the expiration of such periods and without the presence of the
      Technical Advisor shall be invalid. However, the Technical Advisor’s
      failure to attend despite having been duly invited in the manner and
      within the notice periods provided for in this subsection shall not delay
      the periods provided for in the Construction Contract for such tests and
      inspections, nor shall it invalidate the results of the
    same;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              except
      as provided for in Clause 5.2(4) of the Construction Contract, the
      execution of the Solar Facilities Provisional Acceptance Certificates, the
      Solar Park Provisional Acceptance Certificate, and the Final Acceptance
      Certificate must be accompanied by the approval of the Technical
      Advisor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              the
      Technical Advisor shall have the power the inspect the Site on the same
      terms, and subject to the same restrictions, to which the Owner is
      entitled under Clause 6.2 of the Construction
  Contract;

            

    

    

    
      	
               
      

            	
              (vi)

            	
              the
      Technical Advisor must approve quality controls for the solar modules and
      has the authority to inspect such quality controls in order to confirm its
      approval; and

            

    

    

    
      	
               
      

            	
              (vii)

            	
              an
      order to suspend the Work by the Owner pursuant to Clause 13.1 of the
      Construction Contract shall not be valid unless it has been countersigned
      by the Agent on behalf of the Financial
  Institutions.

            

    

    

    

    ***
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          72

          
            

          

        

        
           

        

      

    

    

    4.2           Changes
and Actions Regarding the Maintenance Agreement

    

    The
Contractor hereby acknowledges and agrees that:

    

    
      	
               
      

            	
              (i)

            	
              it
      may not agree to any change to the Maintenance Agreement or any Change
      Order or any other document that contains an agreement to make the changes
      contemplated by Clause 2.4 of the Maintenance Agreement without first
      receiving the prior approval of the Financial Institutions (the foregoing
      is without prejudice to the Contractor’s rights under such Clause
      2.4);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      Technical Advisor must receive the data and registrations at least fifteen
      (15) calendar days in advance to make the availability calculations
      referred to in Clause 7 of the Maintenance
  Agreement;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              the
      Technical Advisor shall have the authority to inspect the Site on the same
      terms, and subject to the same restrictions, to which the Owner is
      entitled under Clause 4(ii) of the Maintenance
  Agreement.

            

    

    

    
      	
              5.

            	
              CUMULATIVE
      NATURE OF THE OBLIGATIONS CONTEMPLATED BY THIS
  AGREEMENT

            

    

    

    The
rights of the Financial Institutions contemplated in this Agreement are
cumulative with the rights of the Financial Institutions under the Construction
Contract or the Maintenance Agreement. Therefore, the terms of this Agreement
shall not affect the obligation of the Contractor and the Owner to request the
consent of the Financial Institutions for such acts that, in accordance with the
terms of the Construction Contract and/or the Maintenance Agreement, require the
prior consent of the Financial Institutions.

    

    
      	
              6.

            	
              ASSIGNMENTS
      

            

    

    

    
      	
              6.1

            	
              Assignment
      by the Financial Institutions

            

    

    

    
      	
               
      

            	
              This
      Contract is delivered for the benefit of the Financial Institutions, and
      therefore inures to the benefit of their successors or assigns permitted
      under the Guaranteed Contracts. Therefore, in the event of an assignment,
      in whole or in part, of the interest of a Financial Institution under the
      Guaranteed Contracts, or the replacement of the Agent under the terms of
      the Credit Agreement, all references made in this public document to the
      Financial Institutions and the Agent shall be understood to include
      reference to their respective successors or assigns. An assignee must
      present its position to the Contractor and the Owner, upon request, by
      delivery of a copy of the document through which such assignment or
      replacement of the Agent is made. However, the Agent must inform the
      Contractor of its replacement with sufficient advance notice to permit the
      Contractor to comply with its obligations under the Construction Contract,
      the Maintenance Agreement and this
Agreement.

            

    

    

    

    ***
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          73

          
            

          

        

        
           

        

      

    

    

    
      	
              6.1

            	
              Assignment
      by the Contractor

            

    

    

    The Contractor may not assign its rights
or obligations under the Construction Contract or the Maintenance Agreement
except in strict compliance with the terms of Clauses 15.1 and 11.1 of the
Construction Contract and the Maintenance Agreement,
respectively.  However, in the event of an assignment by the
Contractor to one of the companies of its Group, under the terms permitted in
such Clauses, the Contractor agrees that it shall not effect such assignment
unless the assignee concurrently agrees to adhere to the entirety of the
Contractor’s responsibilities and agreements under this Agreement.

    

    
      	
              7.

            	
              NOTICES
      

            

    

    

    
      	
              (1)

            	
              Except
      as otherwise expressly provided for, all notices and communications
      between the Parties for the purposes of this Agreement shall be made in
      writing, by certified mail, telegram with confirmed receipt, or for urgent
      matters, by fax with a confirmation letter to be sent within the following
      five (5) calendar days.

            

    

    

    
      	
              (2)

            	
              All
      notices, requirements or other communications to the Financial
      Institutions must be delivered to the Agent (notice to the Financial
      Institutions shall be considered effective upon receipt by the
      Agent).

            

    

    

    
      	
              (3)

            	
              The
      Parties designate the following addresses for notice, communications and
      routine matters:

            

    

    

    
      	
               
      

            	
              The
      Agent:

            

    

    
      	
               
      

            	
              [l]

            

    

    
      	
               
      

            	
              Fax:

            	
              +34
      [l]

            

    

    
      	
               
      

            	
              Attention:
      Mr. [l]

            

    

    

    The
Contractor:

    SunPower Energy Systems España,
S.L.

    Paseo de
la Castellana, 86, 8o

    28046
Madrid, España

    Fax: +34
915644451

    Attention:
General Manager

    

    With a
copy to:

    SunPower Systems
SA

    42-44
Avenue Cardinal Mermillod 1227 Carouge - Switzerland

    Fax: +41
22 304 1405

    Attention:
Mr. Marco Antonio Northland

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
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          74

          
            

          

        

        
           

        

      

    

    

    
      The
Owner:

    

    Moralas Renovables, S.L.

    Calle
Núñez de Balboa 120, 7o, 28006 Madrid

    Fax: +34
91 562 35 93

    Attention:
Mr. Juan Carlos Sirviente Rodrigo

    

    
      	
              (4)

            	
              Any
      changes to the above addresses must be communicated to the other Parties
      by certified mail, and shall only take effect as of the date that the
      other Party receives such notice.

            

    

    

    
      	
              8.

            	
              LAW
      AND JURISDICTION

            

    

    

    This Contract shall be exclusively
governed by generally applicable Spanish legislation.

    

    The
Parties expressly waive any other jurisdiction to which they may be entitled
and, without prejudice to applicable law, hereby irrevocably submit to the
jurisdiction of the Courts and Tribunals of the city of Madrid.

    

    
      	
              9.

            	
              TERM

            

    

    

    This
Contract shall remain in full force and effect throughout the term of the
Construction Contract and the Maintenance Agreement or until the payment in full
of the obligations assumed by the Owner under the Guaranteed Contracts. Upon
payment in full of said amounts, the Owner may request that the Agent issue a
joint notice to the Contractor confirming payment in full of all obligations
assumed by the Owner under the Guaranteed Contracts.

    

    
      	
              10.

            	
              TAXES
      AND EXPENSES 

            

    

    

    All fees,
taxes and any other costs and expenses arising from the preparation and delivery
of this Contract, including the reasonable fees and expenses of legal counsel
shall be borne by the Owner.

    

    

    In
witness whereof, the Parties execute this Contract in three (3) counterparts,
each of them being an original and having the same effect, in the place and on
the date first set forth above.

    

    

    
      	 
      	 
      	 
      
	
              MORALAS
      RENOVABLES, S.L.

            	 
      	
              SUNPOWER
      ENERGY SYSTEMS SPAIN, S.L.U.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              CAJA
      CASTILLA LA MANCHA

            	 
      	 
      

    

    

    

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          75

          
            

          

        

        
           

        

      

    

    

    
       
ANNEX 10

    

    
       
MINIMUM
P.R. AND PENALTIES FOR NON-COMPLIANCE WITH THE PRODUCTION
GUARANTEE

    

    

    ***

    

    
      	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            

    

     

    ***

     

    
      	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            
	
              ***

            	
              ***

            	
              ***

            

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    
       
SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          76

          
            

          

        

        
           

        

      

    

     

    ANNEX 11

     

    GUARANTEED
VALUES

     

     

    ***

     

     

    ***

     

     

    ***
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FILED WITH THE COMMISSION***

    

    

    
      
        
           

        

        
          77

          
            

          

        

        
           

        

      

    

    

    ANNEX 12

    

    
       
FORM
OF LETTER TO BE SIGNED BY THE AGENT

    

    

    

    SunPower
Energy Systems Spain, S.L.U.

    Paseo de
la Castellana, 86, 8o

    28046
Madrid, Spain

    Fax: +34
915644451

    Attn.:  General
Manager

    

    

     [l] [l], 2007

    

    

    Gentlemen:

    

    Re:
Commercial loan agreement (the “Loan Agreement”) signed by [l] and [l] on [l], converted into a
public instrument in the presence of Mr. [l], a notary of Madrid,
and recorded in his notarial protocol under No. [l], for the partial
financing of (among other things) the payments owed by [l] pursuant to a
“turnkey” construction contract signed by such entity with SunPower Energy
Systems Spain, S.L.U. on [l] (the “Construction
Contract”)

    

    We hereby
confirm to you that, pursuant to the Loan Agreement, [l] has obtained from
[l] a loan in the
total amount of [l]
euros, of which sum [l] euros correspond to
Tranche A of the Loan Agreement, and [l] euros correspond to
Tranche B of the Loan Agreement, with the purpose of such Tranches being to
finance, among other things, the Contract Price and the associated VAT to be
paid by [l]
pursuant to the Construction Contract.

    

    Cordially,

    

     

    [l]

    

    

    ***
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          78

          
            

          

        

        
           

        

      

    

    

    
       
ANNEX 13

    

    

    
       
SITE
PLAN

    

    

    

    ***
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SEPARATELY
FILED WITH THE COMMISSION***

    

    

    
79ex10_55.htm

    
      

    

    Exhibit
10.55

    
 

    ***CONFIDENTIAL
TREATMENT REQUESTED – CONFIDENTIAL PORTIONS OF THIS DOCUMENT HAVE BEEN REDACTED
AND HAVE BEEN SEPARATELY FILED WITH THE COMMISSION***

    

    TURNKEY
CONSTRUCTION CONTRACT

    FOR
THE CONSTRUCTION OF A SOLAR PARK

    

    

    BETWEEN

    

    

    SUNPOWER
ENERGY SYSTEMS SPAIN, S.L.

    

    As
Contractor

    

    

    AND

    

    

    NATURENER
SOLAR TINAJEROS, S.L.U.

    

    

    as
Owner

    

    

     

    

    November
6, 2007

    

    

    ***
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    TABLE
OF CONTENTS

     

    
      	
              1.

            	
              DEFINITIONS

            	
              4

            
	 	 	 
	
              2.

            	
              PURPOSE
      AND SCOPE OF WORK

            	
              9

            
	 	 	 
	
              2.1

            	
              Purpose
      of the Contract

            	
              9

            
	
              2.2

            	
              Scope
      of Work

            	
              10

            
	
              2.3

            	
              Exclusions

            	
              11

            
	
              2.4

            	
              Changes
      in the Scope

            	
              11

            
	 	 	 
	
              3.

            	
              COMMENCEMENT
      OF WORK

            	
              12

            
	 	 	 
	
              4.

            	
              PRICE
      AND FORM OF PAYMENT

            	
              14

            
	 	 	 
	
              4.1

            	
              Contract
      Price

            	
              14

            
	
              4.2

            	
              Payment
      Milestones

            	
              15

            
	
              4.3

            	
              Invoicing
      System and Form of Payment

            	
              16

            
	 	 	 
	
              5.

            	
              IMPLEMENTATION
      SCHEDULE. TESTS AND PROVISIONAL ACCEPTANCE

            	
              18

            
	 	 	 
	
              5.1

            	
              Implementation
      Schedule. Changes in the Deadline

            	
              18

            
	
              5.2

            	
              Performance
      Tests and Provisional Acceptance

            	
              19

            
	 	 	 
	
              6.

            	
              OTHER
      OBLIGATIONS OF THE CONTRACTOR

            	
              20

            
	 	 	 
	
              6.1

            	
              Prevention
      of Occupational Risks

            	
              20

            
	
              6.2

            	
              Obligation
      to Provide Access to the Site

            	
              21

            
	
              6.3

            	
              Minimum
      Stock and Supply of Spare Parts

            	
              22

            
	
              6.5

            	
              Regulatory
      Compliance

            	
              22

            
	
              6.6

            	
              Permits
      and Authorizations

            	
              23

            
	
              6.7

            	
              Training
      of the Owner’s Personnel

            	
              24

            
	
              6.8

            	
              Designation
      of Project Director

            	
              24

            
	
              6.9

            	
              Taxes
      and Import Duties

            	
              25

            
	
              6.10

            	
              Intellectual
      and Industrial Property Rights

            	
              25

            
	
              6.11

            	
              Cooperation

            	
              26

            
	 	 	 
	
              7.

            	
              OBLIGATIONS
      OF THE OWNER

            	
              26

            
	 	 	 
	
              8.

            	
              GUARANTEES

            	
              27

            
	 	 	 
	
              8.1

            	
              Solar
      Module Degradation Guarantee

            	
              27

            
	
              8.2

            	
              Solar
      Module Capacity Guarantee

            	
              27

            
	
              8.3

            	
              Design,
      Assembly and Performance Guarantee. Materials Quality
      Guarantee.

            	
              28

            
	
              8.4

            	
              Solar
      Park Production Guarantee.

            	
              31

            
	
              8.5

            	
              Bonds

            	
              32

            
	 	 	 
	
              9.

            	
              FINAL
      ACCEPTANCE OF THE SOLAR PARK

            	
              33

            
	 	 	 
	
              10.

            	
              OWNERSHIP
      OF THE FACILITIES AND TRANSFER OF RISK

            	
              34

            
	 	 	 
	
              11.

            	
              INSURANCE

            	
              34

            
	 	 	 
	
              12.

            	
              FORCE
      MAJEURE

            	
              35

            
	 	 	 
	
              13.

            	
              SUSPENSION
      OF THE WORK

            	
              37

            
	 	 	 
	
              13.1

            	
              Suspension
      by the Owner

            	
              37

            
	
              13.2

            	
              Suspension
      by the Contractor

            	
              38

            
	
              13.3

            	
              Suspension
      by Judicial or Governmental Authority

            	
              39

            
	 	 	 
	
              14.

            	
              TERMINATION

            	
              39

            
	 	 	 
	
              14.1

            	
              Termination
      for Causes Attributable to the Contractor

            	
              39

            
	
              14.2

            	
              Termination
      by the Contractor

            	
              44

            
	
              14.3

            	
              Termination
      due to Force
      Majeure

            	
              45

            

    

    
      

      

      ***
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        2

        
          

        

      

      
        
        

      

    

     

    
      	
              15.

            	
              ASSIGNMENT
      AND SUBCONTRACTING

            	
              45

            
	 	 	 
	
              15.1

            	
              Assignment

            	
              45

            
	
              15.2

            	
              Subcontracting

            	
              46

            
	 	 	 
	
              16.

            	
              LIABILITY
      AND DAMAGES

            	
              47

            
	
              17.

            	
              OWNER
      FINANCING

            	
              48

            
	
              18.

            	
              CONFIDENTIALITY

            	
              49

            
	
              19.

            	
              NOTICES

            	
              50

            
	
              20

            	
              LAW
      AND JURISDICTION

            	
              51

            

    

     

     

    ANNEXES:

     

     

    ANNEX 1.-
***

     

    ANNEX 2.-
SCOPE OF WORK. TECHNICAL SPECIFICATIONS

     

    ANNEX 3.-
IMPLEMENTATION SCHEDULE

     

    ANNEX 4.-
TEST PROTOCOLS

     

    ANNEX 5.-
MINIMUM INVENTORY AND SUPPLY OF SPARE PARTS

     

    ANNEX 6.-
MODULE DEGRADATION GUARANTEE

     

    ANNEX 7.-
FORMS OF SURETY BONDS

     

    ANNEX 8.-
AUTHORIZED EQUIPMENT [AND PRINCIPAL AUTHORIZED MEDIUM-VOLTAGE
SUBCONTRACTOR]

     

    ANNEX
9.-  FORM OF DIRECT AGREEMENT

     

    ANNEX
10.- MINIMUM P.R. AND PENALTIES FOR NON-COMPLIANCE WITH THE PRODUCTION
GUARANTEE

     

    ANNEX.
11- GUARANTEED VALUES

     

    ANNEX
12.- FORM OF LETTER TO BE SIGNED BY THE AGENT

     

    ANNEX
13.- SITE PLAN

     

     

    ***
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        3

        
          

        

      

      
         

      

    

     

    In
Madrid, on the 6th day of
November, 2007.

     

    

    APPEARING
PARTIES

    

    

    
      	
              (A)

            	
              NATURENER SOLAR TINAJEROS,
      S.L.U (hereinafter, the “Owner”), with a
      registered office at calle Núñez de Balboa, 120, 7o, 28006, Madrid and
      having Tax Identification Code (CIF) number B-85128781 herein represented
      by Dr. Rafael Sánchez Lodares, with National Identity Document (DNI) No.
      403893-J and Mr. Juan Francisco Quiroga Fernández-Ladreda, with National
      Identity Document (DNI) No. 32.760.974-G, pursuant to the powers conferred
      upon them pursuant to a public instrument executed before Ms. Maria del
      Rosario Algora Wesolowski, a  Madrid notary, and recorded in her
      notarial protocol under No. 4.551.

            

    

    

    
      	
              (B)

            	
              SUNPOWER ENERGY SYSTEMS SPAIN,
      S.L. (hereinafter, the “Contractor”), with a
      registered office in Madrid at calle Pradillo no 5, herein represented by
      Mr. Marco Antonio Northland, bearing U.S. Passport No. 047605878, in his
      capacity as attorney-in-fact of such entity pursuant to a public
      instrument executed before Mr. Ignacio Martínez Gil-Vich, a Madrid notary,
      on November 28, 2006, and recorded in his notarial protocol under No.
      4.551.

            

    

    

    

    RECITALS

    

    
      	
              (1)

            	
              The
      Owner is interested in promoting the installation and operation of a solar
      park in Albacete, consisting of one hundred (100) Solar Facilities having
      between 115 and 122 kWp of peak power and 100 kWe at the
      inverter.

            

    

    

    
      	
              (2)

            	
              Tthe
      Contractor is dedicated to the construction and start-up of facilities of
      this type, and intends and has the capacity to construct the Solar Park in
      accordance with the specifications of this
  Contract.

            

    

    

    
      	
              (3)

            	
              The
      Owner will partially finance the payment of the Contract Price through
      financing to be made available to the Owner by one or more credit
      providers (the “Financial
      Institutions”).

            

    

    

    
      	
              (4)

            	
              ***

            

    

    

    
      	
              (5)

            	
              Now,
      therefore, the Parties mutually acknowledging the legal capacity required
      to enter into contract and bind themselves, agree to execute this
      "turnkey" construction contract (hereinafter, the “Contract”) in accordance
      with the following:

            

    

     

    CLAUSES

    

    
      	
              1.

            	
              DEFINITIONS

            

    

    

    

    ***
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        4

        
          

        

      

      
         

      

    

    In this
Contract, the terms listed below shall have the meaning established in each
instance:

    

    
      	
              -

            	
              Final Start-Up Certificate or
      Final Start-Up: means the governmental certificate referred to in
      Sections 115 c) and 132 of Royal Decree 1.955/2000, of December 1, with
      respect to each of the Solar Facilities and the Electrical Infrastructure,
      which allows for the commencement of the commercial operation thereof,
      including, for the purposes of this Contract, obtaining the final
      registration of each of such Solar Facilities and Electrical
      Infrastructures with the Register of Power Facilities included within the
      Special Regime (Registro
      Administrativo de Instalaciones de Producción de Energía en Régimen
      Especial), pursuant to the provisions of Section 12 of Royal Decree
      661, which grants to the corresponding facilities the status of a
      production facility accepted under the special regime, in accordance with
      the terms of this contract.

            

    

    

    
      	
              -

            	
              Direct Agreement: the
      agreement executed among the Contractor, the Owner and the agent for the
      institutions providing financing to the Owner, for purposes of, among
      other things, making the payments contemplated in this Contract, pursuant
      to the provisions of Clause 17.

            

    

    

    
      	
              -

            	
              Scope of Work: the
      entirety of all services, supplies and work that the Contractor must
      provide under this Contract in accordance with the provisions of Clause
      2.2 and the specific details contained in Annex
      2.

            

    

    

    
      	
              -

            	
              Insurance Advisor: means
      Willis or any other insurance advisor appointed by the Financial
      Institutions in the context of the financing of the Solar
      Park.

            

    

    

    
      	
              -

            	
              Legal Advisor: means
      Gómez-Acebo & Pombo, S.L. Ramón & Cajal Attorneys or any other
      legal advisor that the Financial Institutions may designate in the context
      of the financing of the Solar Park

            

    

    

    
      	
              -

            	
              Technical Advisor: means
      Sylcom Solar or any other technical advisor appointed by the Financial
      Institutions in the context of the financing of the Solar
      Park.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Performance Bond: means
      the bond payable on demand to be delivered by the Contractor in accordance
      with the provisions of Clause 8.5 to guarantee the performance of its
      contractual obligations and which shall be effective as from delivery
      thereof to the Owner in accordance with the provisions of this contract
      until the execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Guarantee Bond: means
      each of the bonds payable on demand to be delivered by the Contractor in
      accordance with the provisions of Clause 8.5 to guarantee the performance
      of its contractual obligations during the Guarantee Period, which shall be
      effective as from the execution of the Solar Park Provisional Acceptance
      Certificate through the execution of the Final Acceptance
      Certificate.

            

    

    

    

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        5

        
          

        

      

      
         

      

    

    
      	
              -

            	
              Final Acceptance Certificate
      (FAC): means the certificate that shall be executed by the Parties
      at the end of the Guarantee Period to attest to the final acceptance of
      the Solar Park by the Owner.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Solar Park Provisional
      Acceptance Certificate (Park PAC): means the certificate that shall
      be executed by the Parties concurrently with the execution of the
      Provisional Acceptance Certificate for the last Solar Facility forming a
      part of the Solar Park, to evidence the proper operation of the Solar Park
      as a result of the Overall Test of all Solar Facilities and the Electrical
      Infrastructure, as well as the Contractor’s compliance with the
      obligations set forth in this Contract, without prejudice to the
      provisions established for the Guarantee
Period.

            

    

    

    
      	
              -

            	
              Solar Facility Provisional
      Acceptance Certificate (Facility PAC): means the certificate that
      shall be executed by the Parties to evidence the proper operation of the
      equipment as a result of the Performance Tests for each of the Solar
      Facilities (including the Electrical Infrastructure associated with each
      Solar Facility) and the Contractor’s compliance with the obligations set
      forth in this Contract, without prejudice to the provisions established
      for the Guarantee Period.  In order to issue
      a  Provisional Acceptance Certificate for a Solar Facility,
      proper operation of the General Electrical Infrastructure in order to meet
      the installed capacity of the Solar Facilities in operation at such time
      must also be verified.

            

    

    

    
      	
              -

            	
              Contractor: means
      SUNPOWER ENERGY SYSTEMS SPAIN, S.L. and any other
      company that may succeed it in its obligations in accordance with the
      provisions of this Contract.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Contract: means this
      contract together with the Annexes hereto. In the event of conflict
      between the body of this Contract and one or more of the Annexes, the body
      of this Contract shall prevail.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Maintenance Agreement:
      means the Maintenance Agreement entered into by the Contractor and
      the Owner on even date herewith, providing for the assumption by the
      Contractor of the maintenance work for the Solar Park upon execution of
      the Solar Park Provisional Acceptance
  Certificate.

            

    

    

    
      	
              -

            	
              Systemic Defect: is an
      operational failure of the Solar Facilities of the Solar Park occurring
      during the Production Guarantee Period that (i) is not caused by
      non-conforming performance of the Work by the Contractor under this
      Contract, the Technical Specifications, the Construction Model or the
      regulations applicable to the Work (in accordance with the terms of this
      Contract), and (ii) that

            

    

    

    
      	
               
      

            	
              §

            	
              is
      the same failure or is a failure that affects, at least: 0.5% of the solar
      modules, 10 or more inverters or their corresponding peripheral systems,
      10 or more trackers, or 4 or more transformers (including breakers and
      switches) supplied by the same manufacturer for the Solar Park;
      or

            

    

    

    

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              §

            	
              the
      relevant supplier or well-known independent third party in the solar
      industry reports that at least 1% of worldwide production of the
      corresponding model of solar module, inverter, tracker or transformer is
      affected by the same operational failure and advises replacement thereof
      (in which event the Owner must receive proof in the form of delivery of a
      document signed by the  manufacturer or of a report from an
      independent third party which confirms the existence of said systemic
      failure with reference to the model and series of the affected
      equipment).

            

    

    

    
      	
              -

            	
              Business Day: means any
      day other than a bank holiday in Madrid and Albacete, with the express
      provision that Saturday is not a Business
Day.

            

    

    

    
      	
              -

            	
              Financial Institutions:
      has the meaning set forth in the Recital
(3).

            

    

    

    
      	
              -

            	
              Site: means parcel 36,
      polygon 27, in the municipality of Albacete, as identified in Annex 13.

            

    

    

    
      	
              -

            	
              Authorized Equipment:
      means the list of brands and models of the principal equipment or elements
      that will make up the Solar Facilities and the Electrical Infrastructures
      described in Annex
      8 hereto.

            

    

    
      	
               
      

            	
              -

            

    

    
      	
              -

            	
              Technical Specifications:
      means the technical conditions for executing the Work that were
      prepared by the Contractor and delivered to the Owner, and that make up
      Annex
      2.

            

    

    

    
      	
              -

            	
              Delivery Deadline: means
      July 15, 2008.

            

    

    

    
      	
              -

            	
              ***

            

    

    

    
      	
              -

            	
              ***

            

    

    

    
      	
              -

            	
              Payment Milestones:
      means the milestones for the payment of the Contract Price, as described
      in Clause 4.2 below.

            

    

    

     

    
      	
              -

            	
              Specific Electrical
      Infrastructure: means the entirety of
      the electrical elements permitting the evacuation to the distribution grid
      of the electrical power produced by each of the Solar Facilities,
      including from the Solar Facilities to the specific transformer center for
      such Solar Facility.

            

    

     

     

    
      	
              -

            	
              General Electrical
      Infrastructure: means the entirety of
      the electrical elements permitting the connection of each of the Solar
      Facilities, from the specific transformer center, in order to permit the
      evacuation of electrical power generated by each Solar Facility to the
      distribution grid, including the Evacuation Line, the distribution and
      sectioning center and supplemental
      elements of supervision, monitoring and data
  collection.

            

    

     

    

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        7

        
          

        

      

      
         

      

    

     

    
      	
              -

            	
              Electrical
      Infrastructure: collectively, the General Electrical
      Infrastructures and the Specific Electrical
    Infrastructures.

            

    

    

    
      	
              -

            	
              Solar Facility: means
      the entirety of the electromechanical elements that allow for the
      generation of low voltage (“LV”) electrical power, including from the
      solar modules themselves, solar trackers, and inverters, to the LV meter,
      with a peak unit capacity of between 115 and 122
  kWp.

            

    

    

    
      	
              -

            	
              Evacuation Lines: the 20
      kV output electrical evacuation line of the distribution center of the
      General Electrical Infrastructure, necessary to connect such
      Infrastructures to the substation of the power distribution company
      (Iberdrola) in Albacete.

            

    

    

    
      	
              -

            	
              Change Order: means a
      document signed by the Contractor and the Owner pursuant to which a change
      is agreed upon in the Scope of Work, the Contract Price or the Execution
      Schedule, or any other modification, as provided in this
      Contract.   

            

    

    

    
      	
              -

            	
              Solar Park: means the
      entirety of the one hundred (100) Solar Facilities having between 115 and
      122 kWp of peak capacity and 100 kWe at the inverter, that must reach a
      total peak capacity of 11.85 MWp, located at the Site, including the
      Electrical Infrastructure and any other facilities that, in accordance
      with the terms of this Contract, may be necessary for its
      Start-Up.

            

    

    

    
      	
              -

            	
              Guarantee Period: means
      the period between the signing of the Provisional Acceptance Certificate
      for the first Solar Facility until satisfaction of the conditions for the
      execution of the Final Acceptance
Certificate.

            

    

    

    
      	
              -

            	
              Production Guarantee Period:
      means the period between Start-up of the Solar Park until ***
      following execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    

    
      	
              -

            	
              Contract Price: The
      price payable by the Owner to the Contractor for the performance of the
      obligations contained in this Contract, the amount of which is set forth
      in Clause 4 of the Contract.  For purposes of this Contract, the
      price corresponding to an individual Solar Facility shall be the amount
      obtained by dividing the total Contract Price by the one hundred (100)
      Solar Facilities.

            

    

    

    
      	
              -

            	
              Implementation Schedule:
      means the schedule for the implementation of the Scope of Work,
      which is attached as Annex
      3 to this Contract.

            

    

    

    
      	
              -

            	
              Owner:  means
      NATURENER SOLAR TINAJEROS, S.L.U, as well as any
      company subrogating to its contractual position in accordance with the
      provisions of this Contract.

            

    

    

    
      	
              -

            	
              Overall Test: means the
      test described in Annex
      4, to be performed as a prerequisite to the execution of the Solar
      Park Provisional Acceptance Certificate to verify the proper operation of
      all Solar Facilities and the Electrical Infrastructure. The Overall Test
      will definitively verify the proper operation of the General Electrical
      Infrastructure to absorb the power discharged by all Solar
      Facilities.

            

    

    

    

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        8

        
          

        

      

      
         

      

    

    
      	
              -

            	
              Performance Tests: means
      the tests described in Annex
      4, to be performed as a prerequisite to the execution of each Solar
      Facility Provisional Acceptance Certificate to verify the proper operation
      of the corresponding Solar Facility and Electrical Infrastructures.
      Pursuant to the provisions of Clause 5.2(1), each Performance Test will be
      performed on a minimum of ten (10) Solar Facilities (with their
      corresponding Electrical
Infrastructures).

            

    

    

    
      	
              -

            	
              Production Tests: means
      the tests that will be performed at the end of the Production Guarantee
      Period in order to determine compliance with the Production Guarantee set
      forth in Clause 8.4, following the protocols set forth in Annex
      4.

            

    

    

    
      	
              -

            	
              Start-up: means, with
      reference to a particular Solar Facility and/or Electrical Infrastructure,
      the point when all of the work required by this Contract has been
      completed and all Performance Tests have been passed in accordance with
      this Contract and the Annexes hereto, the Provisional Acceptance
      Certificate has been executed and the Owner has received the corresponding
      Final Start-up Certificate (as confirmed by the Legal Advisor). Reference
      to Start-up of a Solar Park shall be understood to mean the point when all
      Solar Facilities and corresponding Electrical Infrastructures have passed
      the Overall Tests and comply with the above referenced
      requirements.

            

    

    

    
      	
              -

            	
              RD 661: Royal Decree No.
      661/2007, of May 25, which regulates activities involving the production
      of power under special regime.

            

    

    
      	
               
      

            	 

    

    
      	
              -

            	
              Subcontractors: means
      the subcontractors with which the Contractor subcontracts all or part of
      the works to be executed under this
Contract.

            

    

    

    
      	
              -

            	
              Work: means the work and
      supplies to be provided by the Contractor pursuant to the provisions of
      this Contract.

            

    

     

    
      	
              2.

            	
              PURPOSE
      AND SCOPE OF WORK

            

    

    

    
      	
              2.1

            	
              Purpose
      of the Contract

            

    

    

    
      	 	
              The
      purpose of this Contract is the construction, start-up and delivery of the
      Solar Park to the Owner pursuant to the terms set forth in this Contract
      such that, upon issuance of the Final Start-up Certificate, the production
      of power and sale thereof to the electric distribution grid may commence,
      in accordance with applicable law and the Technical
      Specifications.

            

    

    

    

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        9

        
          

        

      

      
         

      

    

    This
Contract is executed as a "turnkey" contract, and the Contractor is hereby
obligated to deliver to the Owner the design, construction and Start-up of the
Solar Park for the fixed price and within the fixed time periods established
herein, subject to the other terms and conditions set forth in this
Contract.

    

    
      	
              2.2

            	
              Scope
      of Work

            

    

    

    
      	
              (1)

            	
              According
      to the terms and conditions of this Contract, the Contractor shall carry
      out and shall be responsible for all of the equipment, services, supplies
      and work comprising the Scope of Work. The Scope of Work includes each of
      the following concepts, as well as all acts that, even if not expressly
      mentioned in this Contract or in Annex
      2, are necessary for the proper operation, performance and
      commercial exploitation of the Solar Park, in each case in accordance with
      the customary usage and practices in the industry for a project having
      these characteristics, this Contract, the Technical Specifications, and
      applicable law (without prejudice to the provisions of Clause
      2.4(4)):

            

    

    

    
      	
               
      

            	
              §

            	
              Design,
      engineering (basic and detailed) and required technical
      schedules.

            

    

    

    
      	
               
      

            	
              §

            	
              Execution
      of all aspects of the Scope of Work and the supply of all materials,
      elements and equipment set forth in Annex
      2, and the supply of all materials necessary and appropriate to
      properly carry out the Scope of
Work.

            

    

    

    
      	
               
      

            	
              §

            	
              Performance
      of inspections, inventory of materials, performance controls, tests and
      other analyses required under applicable law and in accordance with the
      technical specifications and this
contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Transportation
      to the Site of all materials, equipment, utilities, spare parts,
      consumables and machinery for which the Contractor is responsible under
      the Contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Direct
      and indirect labor necessary to carry out the Scope of Work and all costs
      and social charges associated with such
labor.

            

    

    

    
      	
               
      

            	
              §

            	
              Demolition
      and dismantling of the provisional facilities not required by the Owner
      and conditioning and cleaning of the Site following issuance of the Solar
      Park Provisional Acceptance
Certificate.

            

    

    

    
      	
               
      

            	
              §

            	
              Maintenance,
      protection, security, custody and conservation of the equipment installed
      or stored at the Site up to the signing of the Solar Park Provisional
      Acceptance Certificate.

            

    

    

    

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        10

        
          

        

      

      
         

      

    

    
      	
               
      

            	
              §

            	
              Preparation
      and delivery to the Owner of all documentation within the scope of this
      Contract, sufficiently in advance for the utilization thereof by the
      Owner. In particular, the delivery of the documentation and manuals set
      forth in Annex
      2.

            

    

    

    
      	
               
      

            	
              §

            	
              ***

            

    

    

    
      	
               
      

            	
              §

            	
              Training
      of the Owner’s personnel in the operation and maintenance of the materials
      and equipment acquired in accordance with the terms of Clause 6.7 of this
      Contract.

            

    

    

    
      	
               
      

            	
              §

            	
              Construction
      of all necessary auxiliary facilities, their maintenance, cleaning and
      security during the performance of the Work, including that performed in
      compliance with the regulations for the Prevention of Occupational Risks
      and the Social Security and Health Plan; as well as the demolition or
      dismantling of any temporary facilities not required by the Owner and the
      conditioning and clearing of the Site following the issuance of the Solar
      Park Provisional Acceptance
Certificate.

            

    

    

    
      	
               
      

            	
              §

            	
              Supply
      of spare parts pursuant to the provisions of Clause
  6.3.

            

    

    

    
      	
               
      

            	
              §

            	
              Provision
      of material and human resources required to comply with the regulations
      for the Prevention of Occupational Risks and the Social Security and
      Health Plan, as well as the creation of the Social Security and Health
      Plan.

            

    

    

    
      	
              2.3

            	
              Exclusions

            

    

    

     

    The Scope
of Work for this Contract shall not include amounts associated with the purchase
or lease of land or easements, or the payment of concessions or any other
amounts owed in respect of surface rights to the Site where the Solar Park will
be built. Further, it does not include the services associated with the
obligations assumed by the Owner in Clause 7, the selection and hiring of
personnel by the Owner or the costs and liabilities arising from the selection
and hiring of third parties by the Owner for performance of the work consisting
of safety and health coordination, or the supervision, external inspection,
security, and quality control of the Contractor’s work, including the Technical
Advisor.

     

     

    
      	
              2.4

            	
              Changes
      in the Scope

            

    

    

    
      	
              (1)

            	
              Under
      no circumstances may the Parties make any changes to the Scope of Work
      contemplated by this Contract (of any kind, whether for expansions,
      reductions or changes to any portion of the work and/or the items supplied
      under this Contract), unless a Change Order has previously been
      signed.

            

    

    

    

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        11

        
          

        

      

      
         

      

    

    
      	
              (2)

            	
              At
      any time prior to Provisional Acceptance, the Owner may propose a change
      to the Scope of Work by sending the Contractor a notice describing the
      nature and scope of the change. Upon receipt of such notice, the
      Contractor must send to the Owner, within a maximum period of ten (10)
      Business Days, a communication that includes a complete proposal for the
      changes in the Contract Price, deadlines and form of payment, or any other
      changes that may be necessary in connection with the changes proposed by
      the Owner. This communication shall also include a reasoned explanation of
      the grounds and/or criteria used for the calculation of the new Contract
      Price and/or deadline. However, the Contractor recognizes that in
      accordance with the Direct Agreement, the approval of the Financial
      Institutions is an essential requirement for the validity of the
      changes.

            

    

    

    
      	
              (3)

            	
              Without
      prejudice to the terms of the Direct Agreement, the Contractor may, at any
      time during the performance of the Contract, propose changes to the Scope
      of Work that it deems necessary or appropriate to improve the quality,
      efficiency or safety of the Solar Park or the facilities or supplies that
      make up the Solar Park. The Owner, at its discretion, may approve or
      reject the changes proposed by the Contractor.  The Parties will
      execute a Change Order in the event that the modifications are approved by
      the Owner.

            

    

    

    
      	
              (4)

            	
              In
      addition, upon the entry into force, promulgation, derogation or change of
      any mandatory legal provision after the execution of this Contract that
      affects the Work, the Parties shall sign a document governing the changes
      that must be made to the purpose of this
  Contract.

            

    

    

    
      	
              (5)

            	
              The
      Owner and the Contractor shall negotiate in good faith the effects on the
      deadlines agreed to under this Contract that might occur as a result of
      the changes requested within the context of the provisions of this Clause.
      In any event, the prices applicable to any change in the Scope of Work
      shall consist of the costs of the additional work or supplies arising
      therefrom (reasonably justified to the Owner) plus ***% as the
      Contractor’s margin.

            

    

    

    

    
      	
              3.

            	
              COMMENCEMENT
      OF WORK

            

    

    

    
      	
              (1)

            	
              The
      Parties agree that the payment by Owner of the amount set forth in Clause
      4.2(i) and the delivery by the Contractor of the Performance Bond and the
      Corporate Guarantee are subject only to the delivery by the Owner to the
      Contractor of a letter signed by the Financial Institutions in the form of
      Annex
      12 confirming the availability of the financing and the
      satisfactory receipt by the Contractor of the permits and authorizations
      delivered by the Owner in accordance with the terms of subsection (2)(i)
      below. The payment by the Owner of the amount in accordance with Clause
      4.2(i) and the delivery of the Performance Bond and the Corporate
      Guarantee by the Contractor must be made concurrently on a date between
      the sixth (6th)
      and ninth (9th)
      Business Day following the date the Owner notifies the Contractor that the
      agreed conditions are satisfied. The date the Owner pays the amount
      pursuant to Clause 4.2(i) to the Contractor and the Contractor delivers
      the Performance Bond and the Corporate Guarantee shall be hereinafter
      referred to as the “Condition Satisfaction
      Date.”

            

    

    

    

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              (2)

            	
              By
      executing this Contract, the Owner hereby represents to the Contractor as
      follows:

            

    

    

    
      	
               
      

            	
              (i)

            	
              It
      has obtained all authorizations and licenses necessary for the
      commencement of construction for the Solar Park, except those that are
      intrinsic to the construction itself and that are the responsibility of
      the Contractor in accordance with the terms of Clause 6.6 (having
      delivered to the Contractor a copy of those that are the responsibility of
      the Owner). For purposes of clarification, the Owner has obtained the
      municipal licenses for the work and related activities (to the extent
      necessary), as well as the administrative authorization, the approval of
      the Electrical Infrastructures Plan and the interconnection point of the
      Solar Facilities and has delivered to the Contractor a confirmation issued
      by the Council for the Environmental and Rural Development (Consejería de Medio Ambiente y
      Desarrollo Rural) of Castilla La Mancha that an Environmental
      Impact Statement is not required with respect to any of the Solar
      Facilities of the Solar Park; and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      Site is fully accessible and available for the commencement of
      Work.

            

    

    

    Notwithstanding
the foregoing, the Owner commits to deliver to the Contractor a copy of the
permits and authorizations described in subsection (i) above within four (4)
Business Days from the execution of this Contract.  Within five (5)
Business Days from the date of receipt, the Contractor must declare its
acceptance thereof or, if applicable, any changes to the Scope of Work and/or
the Contract Price required as a result of conditions imposed in such
authorizations and licenses. Such changes must be agreed to by the Parties by
executing an appropriate Change Order.  However, the Contractor agrees
that it shall not proceed with any change that imposes conditions more onerous
than those imposed by the permits and authorizations relating to the two
contracts executed on the date hereof among the Contractor, Moralas Renovables,
S.L. and Aluradiel Solar, S.L.

    

    
      	
              (3)

            	
              In
      the event that (a)
      the letter relating the financing described in subsection (1) has not been
      delivered by November 23, 2007, (b) the Condition
      Satisfaction Date has not occurred by the tenth Business Day following the
      date the Owner delivered such letter to the Contractor, or (c) the Contractor has
      not received documentary evidence of the receipt of the permits and
      authorizations referred to in subsection (2)(i) above (or an agreement has
      not have been reached with respect to the changes required by the
      conditions imposed in such licenses and authorizations) prior to November
      23, 2007, the Contractor and the Owner may terminate the Contract by
      delivery to the other Party of a notice setting forth its desire to
      terminate the Contract, and the Parties shall be released from all
      obligations assumed with respect thereto.  The foregoing shall
      be without prejudice to the purchase orders or requests that the Parties,
      or companies belonging to their groups, shall have already made or agreed
      to, as of or following the execution of this Contract. Such purchase
      orders or requests shall continue in force and effect in accordance with
      their terms unless the Owner elects to cancel them, in which case the
      Owner shall pay the Contractor any cancellation costs that the Contractor
      or any company in its group must pay to any distributor or manufacturer
      with respect to such orders.

            

    

    

    

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              However,
      the Contractor may not terminate the Contract if the Owner has confirmed
      its intention and ability to make the payment described in Clause 4.2(i)
      and the Condition Satisfaction Date has not have occurred due to the
      Contractor’s failure to deliver the Performance Bond and the Corporate
      Guarantee.

            

    

    

    
      	
              (4)

            	
              The
      Contractor represents that, prior to the execution of this Contract, it
      has studied the subterrain, surroundings and access
    thereto.

            

    

    

    The
Contractor represents that the Site is adequate and sufficient for the
performance of the Work, and that the Contractor is aware of and accepts all the
risks and contingencies of the Site that may affect the performance of the Work,
including, without limitation, climate conditions (including wind, snow, frost,
rain, etc.), hydrographic, hydrological, geotechnical and seismic conditions,
any toxic waste or archeological sites that may appear at the Site and in
general any other physical, natural or artificial circumstances of the Site and
the subsoil thereof. Consequently, the Contractor waives any claim to any
supplement to the price of the Contract for an increase in work, delay therein,
or additional cost of any kind, and any claim to any extension in the Delivery
Deadline or the intermediate deadlines for the Work arising from the Site
conditions referred to in this Clause.

    

    
      	
               
      

            	
              However,
      the Parties expressly agree that the discovery of archeological ruins at
      the Site shall be considered an event of Force Majeure in accordance with
      the terms of the Contract, with application of the provisions of Clause
      12.

            

    

    

    
      	
              4.

            	
              PRICE
      AND FORM OF PAYMENT

            

    

    

    
      	
              4.1

            	
              Contract
      Price

            

    

    

    
      	
              (1)

            	
              The
      Contract Price payable by the Owner to the Contractor in consideration for
      the works to be performed by Contractor under this Contract shall be ***
      Euros. This amount shall be increased by an amount corresponding to Value
      Added Tax (VAT) pursuant to applicable law at any given time. The
      Contractor hereby acknowledges and agrees that the Contract Price is a
      lump-sum, fixed, and final price, and is not subject to any change or
      revision whatsoever on the basis of any changes in the prices of labor,
      materials, equipment, exchange rates or any other similar items, including
      a change in any taxes levied on the scope of the
  work.

            

    

    

    

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              (2)

            	
              The
      Contract Price includes all the costs and expenses associated with the
      Contractor’s performance of work under the Contract, including those
      specifically set forth in the Scope of Work. The Contract Price shall be
      deemed to include, by way of
example:

            

    

    

    
      	
               
      

            	
              §

            	
              taxes,
      fees, industrial- and intellectual-property royalties on the equipment
      supplied, Social Security and other encumbrances upon the supplied
      equipment and materials in their country of origin or destination,
      including, if applicable, the rights of free circulation in the European
      Union and any other tax with respect to the importation of the Equipment
      and the performance of the Work, except for the VAT on the actual Contract
      Price. For purposes of clarification, the Price does not include
      legalization fees or costs for permits and authorizations, which are the
      responsibility of the Owner.

            

    

    

    
      	
               
      

            	
              §

            	
              payroll
      costs and the cost of equipment required for the Contractor’s performance
      of the Work or to ensure the protection, security and proper performance
      thereof.

            

    

    

    
      	
               
      

            	
              §

            	
              the
      cost of any insurance that must be taken out by the Contractor pursuant to
      Clause 11.

            

    

    

    However,
the Parties agree that the prices of the perimeter fences and the monitoring
system (Scada) of the tracker hubs are not included in the Contract Price and
therefore, the inclusion thereof in the Scope of Work shall be conditioned upon
the Contractor’s delivery to Owner, prior to November 23, 2007, of an offer to
perform such works and the issuance of a Change Order agreeing to a new Contract
Price that includes such items.

    

    
      	
              (3)

            	
              In
      the event of changes in the Scope of Work agreed to pursuant to the
      provisions of this Contract, the price agreed to in the corresponding
      Change Order shall apply.

            

    

    

    
      	
              (4)

            	
              Without
      prejudice to the foregoing, in consideration for the maintenance and
      security tasks to be performed by the Contractor prior to the execution of
      the Solar Park Provisional Acceptance Certificate, the Owner shall pay to
      the Contractor (in addition to the Contract Price), the portion of the
      price contemplated in the Maintenance Agreement that is equivalent to the
      percentage representing the Solar Facilities that have obtained a
      Provisional Acceptance Certificate with respect to all Solar Facilities
      contemplated by this Contract.

            

    

    

    
      	
              4.2

            	
              Payment
      Milestones

            

    

    

    
      	
               
      

            	
              The
      Contract Price shall be paid by the Owner to the Contractor pursuant to
      the payment schedule set forth below (each of the milestones set forth
      below shall be deemed a “Payment
      Milestone”):

            

    

    

    

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              (i)

            	
              On
      the Condition Satisfaction Date, an amount equal to ***% percent of the
      Contract Price, i.e., *** euros, upon delivery of the Performance Bond by
      the Contractor.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Based
      on the monthly progress of the civil works involving earth moving,
      leveling and foundation laying, measured as 100 kWe Solar Facilities whose
      foundations are completed, the Owner will pay up to a maximum of ***
      percent (***%) of the Contract Price, i.e., *** euros, upon presentation
      of the respective invoices by the
Contractor.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Upon
      each delivery to the Site of the module supports, inverters and trackers
      of each Solar Facility and presentation of the corresponding invoices not
      earlier than two (2) months prior to the dates indicated in the
      Implementation Schedule, the Owner shall pay up to a maximum of *** (***%)
      percent of the Contract Price corresponding to such Solar
      Facilities.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Upon
      each delivery of the solar modules of each Solar Facility to the Site and
      upon presentation of the corresponding invoices not earlier than the dates
      indicated in the Implementation Schedule, the Owner shall pay up to a
      maximum of *** (***%) percent of the Contract Price corresponding to such
      Solar Facilities.

            

    

    

    
      	
               
      

            	
              (v)

            	
              Based
      on the monthly progress of the mechanical assembly of the module supports,
      solar trackers and the modules mounted thereon, as well as the
      installation of the inverters and the transformer center, measured as
      Solar Facilities of 100 kWe whose facilities up to the transformer center
      have been completed, the Owner will pay up to a maximum of *** (***%)
      percent of the Contract Price, upon presentation of the respective
      invoices.

            

    

    

    
      	
               
      

            	
              (vi)

            	
              Upon
      the execution of each Provisional Acceptance Certificate for a Facility,
      the Owner shall pay *** (***%) percent of the Contract Price corresponding
      to such Solar Facility (together with the remaining portion of the
      Contract Price, if any, that was not previously paid and that corresponds
      to Work completed by the Contractor under this Contract in respect of such
      Solar Facility). The last Solar Facility payment shall be made
      concurrently with the execution of the Solar Park Provisional Acceptance
      Certificate.

            

    

    

    
      	
              4.3

            	
              Invoicing
      System and Form of Payment

            

    

    

    
      	
              (1)

            	
              Once
      the Contractor deems that a Payment Milestone has been achieved, the
      Contractor shall give written notice thereof to the Owner and the
      Technical Advisor, attaching thereto the invoice and any documentation
      that may be necessary to demonstrate achievement of the corresponding
      Payment Milestone (including, for this purpose, all of the documentation
      that must be furnished by the Contractor to the Owner at any time,
      pursuant to the provisions of Annex
      2).

            

    

    

    

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              (2)

            	
              Within
      fifteen (15) Business Days following receipt of the above-mentioned
      notice, the Owner and the Technical Advisor shall confirm the achievement
      of the corresponding Payment Milestone. Within such period, the Owner and
      the Technical Advisor shall communicate in writing to the Contractor:
      (i) their
      agreement that the corresponding Payment Milestone has been achieved, in
      which case the Owner and the Technical Advisor shall provide documentary
      confirmation by approving the corresponding invoice, or (ii) that the Payment
      Milestone has not been fully achieved, in which case the Owner and/or the
      Technical Advisor must specify in  writing to the Contractor a
      detailed and reasoned explanation of the work pending performance in order
      for the Payment Milestone to be deemed to have been
      achieved.  In the event that the Owner and/or the Technical
      Advisor fail to respond to the Contractor within the above-mentioned
      period of fifteen (15) Business Days, due solely to the failure of the
      Contractor to provide all documentation required to verify achievement of
      the Payment Milestone, the Owner and the Technical Advisor agree to
      request the same within the above period of fifteen (15) Business Days.
      The Owner and the Technical Advisor will be allotted another ten (10)
      Business Days to issue their response, counting from the date of receipt
      of all requested documentation.

            

    

    

    
      	
              (3)

            	
              If
      the Owner and/or the Technical Advisor do not agree that a Payment
      Milestone has been achieved, the Owner shall be entitled to return the
      corresponding invoice until the Contractor has completed the work in
      accordance with the provisions of this Contract. However, if the Parties
      agree that the disagreement involves only part of the work included in the
      Payment Milestone, the Owner shall pay the invoice amounts corresponding
      to the work not affected by the dispute, with the rest remaining subject
      to full performance and delivery by the Contractor in accordance with the
      terms of this Contract.

            

    

     

    
      	
              (4)

            	
              If,
      following the period referred to in subsection (2) above, the Owner and/or
      the Technical Advisor have not responded, the Contractor may send a demand
      notice to the Owner and the Technical Advisor communicating such fact and
      allowing an additional period of five (5) Business Days for confirmation
      of their agreement or disagreement as to the achievement of the respective
      Payment Milestone. If, upon expiration of such period, the Owner and/or
      the Technical Advisor still have not responded, achievement of the Payment
      Milestone shall be deemed accepted by the Owner and the Technical
      Advisor.

            

    

     

    
      	
              (5)

            	
              Under
      no circumstances shall the Owner’s or the Technical Advisor’s agreement to
      a Payment Milestone imply acceptance of the Work associated therewith,
      which acceptance shall in any event remain conditioned upon passing the
      Performance Tests and executing the respective Provisional Acceptance
      Certificate and, ultimately, the Final Acceptance
    Certificate.

            

    

    

    
      	
              (6)

            	
              Payments
      shall be made by the Owner to the Contractor via bank transfer to the bank
      account designated by the Contractor within *** Business Days following
      the date on which the Owner accepted the corresponding Payment Milestone
      (or on the date on which the Payment Milestone was deemed accepted by the
      Owner, in accordance with subsection (4) above). On an exceptional basis,
      the payment corresponding to the first Payment Milestone shall be paid by
      the Owner on the Condition Satisfaction Date (with respect to such
      payment, approval of a Payment Milestone by the Contractor and the Owner
      pursuant to the above provisions is not required)
  .

            

    

    

    

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              5.

            	
              IMPLEMENTATION
      SCHEDULE. TESTS AND PROVISIONAL
ACCEPTANCE

            

    

    

    
      	
              5.1

            	
              Implementation
      Schedule. Changes in the Deadline

            

    

    

    
      	
              (1)

            	
              The
      Contractor hereby undertakes to perform the Work in accordance with the
      Implementation Schedule attached hereto as Annex
      3, such that the Solar Park shall have all technical attributes
      required for issuance of the Final Acceptance Certificate (and the same
      has been requested in accordance with Clause 2.4) no later than the
      Delivery Deadline.

            

    

    

    
      	
              (2)

            	
              The
      dates for performance specified in the Implementation Schedule and, in
      particular, the Delivery Deadline, are fixed and final, and may not be
      postponed, and the performance deadlines may not be extended, except under
      the following circumstances:

            

    

    

    
      	
               
      

            	
              (i)

            	
              due
      to agreed-upon changes in accordance with the provisions of Clause 2.4,
      provided that such changes include an extension of the
      deadlines;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              due
      to a breach by the Owner giving rise to a delay in the Work (including,
      specifically, delays in procuring authorizations and licenses for which it
      is responsible), provided that such breaches are not attributable to
      actions, omissions or breaches by the
  Contractor;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              suspension
      of the Work in accordance with the provisions of Clause 13, except in the
      event of suspensions attributable to the Contractor;
  or

            

    

    

    
      	
               
      

            	
              (iv)

            	
              the
      occurrence of an event of Force Majeure that
      reasonably justifies an extension of the deadlines established in the
      Implementation Schedule.

            

    

    

    
      	
              (3)

            	
              The
      Contractor must inform the Owner of the alleged facts or causes, in
      writing and within a maximum period of ten (10) Business Days after the
      Contractor becomes aware thereof, and the communication must be
      accompanied by all available information and data on such date that
      substantiate such facts and the consequences thereof on the Work, the
      extension (if such extension can be determined) proposed by the
      Contractor, and a detailed explanation of the measures adopted to mitigate
      the consequences thereof.

            

    

    

    The Owner
may request any additional information that it deems reasonably necessary to
analyze the request and shall make a decision thereon as soon as possible, but
in any event no later than fifteen (15) days after receipt of such communication
from the Contractor or receipt of the documentation required to evaluate the
circumstances, if later.  If the Owner accepts the extension proposed
by the Contractor, the Parties shall issue a Change Order confirming the changes
to the Implementation Schedule.

    

    

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              5.2

            	
              Performance
      Tests and Provisional Acceptance

            

    

    

    
      	
              (1)

            	
              Upon
      completion of the construction of a group of at least ten (10) Solar
      Facilities, or of the Solar Park, the Contractor shall notify the Owner so
      that, within a maximum period of seven (7) Business Days, the Performance
      Tests or the Overall Test may be commenced . All Tests shall be conducted
      in accordance with the Test procedures and protocols attached hereto as
      Annex
      4.  The Contractor agrees that the Performance Tests and
      the procedures set forth in this Clause shall begin only when at least ten
      (10) Solar Facilities are ready for provisional
  acceptance.

            

    

    

    
      	
              (2)

            	
              Once
      the Owner and the Technical Advisor have verified that the Performance
      Tests (or, if applicable, the Overall Test) have been passed in accordance
      with the standards set forth in this Contract and that the Owner has
      received all documentation set forth in the Scope of Work, the Contractor
      and the Owner shall execute the corresponding Provisional Acceptance
      Certificate for the Solar Facilities delivered or the Provisional
      Acceptance Certificate for the Solar Park, as applicable, provided that
      the following conditions have been
met:

            

    

    

    
      	
               
      

            	
              a)

            	
              The
      Work corresponding to the applicable Solar Facilities, or, if applicable,
      the Solar Park, has been satisfactorily
  completed.

            

    

     

    However,
if the Performance Tests or the Overall Test have been passed and the remaining
conditions specified in this Clause have been met with certain punch list items
still pending, the Owner shall sign the corresponding Provisional Acceptance
Certificate, acknowledging, in an attached document, the existence of the punch
list items and setting a period of thirty (30) Business Days for completion
thereof, or another longer period of time agreed by the Parties. If such punch
list items have not been completed by the Contractor at the conclusion of the
specified time period, the Owner may, at its discretion, (i) demand the
completion thereof, or (ii) perform such work itself or through third
parties, deducting the direct costs of such punch list items from what is owed
to the Contractor, or enforce of the bonds delivered pursuant to this
Contract.

     

    The term
“punch list items” shall be understood to refer to those tasks pending execution
by the Contractor for which the work pertaining to such Work has been completed
within the time periods specified in this Contract that do not affect the
operation, production or output of the Solar Facilities or the Electrical
Infrastructure.

    

    

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              b)

            	
              All
      of the documentation that the Contractor must submit in accordance with
      the provisions of Annex
      2 has been submitted to the
Owner;

            

    

    

    
      	
               
      

            	
              c)

            	
              The
      spare parts specified in Clause 6.3 have been made available to the
      Owner;

            

    

    

    
      	
               
      

            	
              d)

            	
              With
      respect to the Solar Park Provisional Acceptance Certificate, the
      Contractor has delivered to the Owner the Guarantee Bond in the amount
      specified in Clause 8.5; and

            

    

    

    
      	
              (3)

            	
              The
      deadlines granted to the Contractor for completion of pending punch list
      items upon execution of a Provisional Acceptance Certificate shall not be
      considered an extension of the deadlines set forth in this Contract, and
      the Contractor shall indemnify the Owner for any damages that the Owner
      may incur as a result thereof pursuant to Clause 5.2(a)
    above.

            

    

    

    
      	
              (4)

            	
              In
      the event that the Owner does not execute the Provisional Acceptance
      Certificates for the respective Solar Facilities  (or, if
      applicable, the Solar Park) within seven (7) Business Days of verifying
      compliance with the stipulated requirements, the Contractor may request in
      writing that the Owner execute the respective Certificate within an
      additional period of five (5) Business Days. If the Owner has not executed
      the new Provisional Acceptance Certificates for the Solar
      Facilities  (or, if applicable, the Solar Park) within said
      period, the conditions required in this clause for execution of the
      corresponding Certificate have been satisfied, it shall be understood that
      provisional acceptance has been achieved, except to the extent
      discrepancies exist as to the performance of the conditions required by
      the same, in which event the Parties shall submit the matter to
      arbitration in accordance with the provisions of Clause 20
      (2).

            

    

    

    
      	
              (5)

            	
              Within
      thirty (30) days following the execution of the Solar Park Provisional
      Acceptance Certificate, the Contractor must: (i) remove from the Site any
      material used in the construction, as well as any equipment, machinery,
      tools, vehicles and temporary structures that are not necessary during the
      Guarantee Period; (ii) clean the Site and remove any debris or waste; and
      (iii) deliver the “As Built” Plans for the Solar
  Park.

            

    

    

    
      	
              6.

            	
              OTHER
      OBLIGATIONS OF THE CONTRACTOR

            

    

    

    
      	
              6.1

            	
              Prevention
      of Occupational Risks

            

    

    

    
      	
              (1)

            	
              The
      Contractor shall be obligated, in compliance with current legislation, to
      perform the works under this Contract in such a way as to ensure the
      safety of workers, and to apply the preventive activity principles set
      forth in Law 31/1995 and its implementing
      regulations.  Accordingly, the Contractor shall be responsible
      for designing the construction process in accordance with the provisions
      of Royal Decree No. 1627/1997, which establish minimum safety and
      health provisions for construction work, and in its the other implementing
      or supplemental regulations, such that the safety of the activities that
      are performed simultaneously or consecutively is ensured, and the safety
      of third parties present in the vicinity of the work site is also
      ensured.

            

    

    

    

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              (2)

            	
              In
      particular, as part of the scope of this Contract, the Owner has prepared
      a Safety and Health Study, and furthermore, in compliance with the
      provisions of Royal Decree No. 1627/1997, the Contractor must prepare
      a Workplace Safety and Health Plan, both specifically for the work
      provided for within the scope of this Contract. The Contractor hereby
      represents that they contain, or will contain, all requirements of such
      Royal Decree and its implementing rules and regulations (including the
      provisions of the autonomous communities that apply, if
    any).

            

    

     

    
      	
              (3)

            	
              Furthermore,
      the Owner (at the request of the Contractor) shall appoint a safety and
      health coordinator, who shall have the obligations set forth in Royal
      Decree 1627/1997, and who shall be responsible for ensuring that all of
      personnel of the Contractor, the Subcontractors and of the suppliers of
      equipment or materials under this Contract comply with the safety
      requirements established in current legislation. Both the Owner and the
      Contractor shall be obligated to respect and comply with their respective
      obligations, as imposed by Royal Decree 1627/1997 and other applicable
      rules and regulations.

            

    

     

    
      	
              (4)

            	
              The
      Owner reserves the right to evaluate security during the construction
      period.  This does not imply that Owner has assumed
      responsibility with respect to security measures taken or the preparation
      of documentation or the content of such documentation referred to in this
      Clause, without prejudice to the obligations and responsibilities under
      law that attach as a result of Owner’s capacity as a developer. To this
      effect, the Contractor shall provide to the Owner all documentation that
      Owner may reasonably require in order to confirm the performance of the
      obligations set forth in this
Clause.

            

    

     

    
      	
              (5)

            	
              For
      clarification purposes, in no event shall the Contract Price be increased
      if, as a result of a security check, legal review or technical risk
      review, the Contractor is required to take additional measures designed to
      guarantee compliance with applicable rules and regulations for the
      prevention of occupational risks.

            

    

     

    
      	
              6.2

            	
              Obligation
      to Provide Access to the Site

            

    

    

    The
Contractor hereby undertakes to provide to the Owner access to the workshops,
warehouses and sites where the Contractor or Subcontractors are performing work,
tests or trials; manufacturing equipment; or storing materials for the
construction, assembly and Start-up of the Solar Park, provided that the Owner
has so requested in writing reasonably in advance and that the visit causes the
least possible interruption of the performance of the work by the Contractor,
and further provided that the Owner agrees to honor all reasonably necessary
confidentiality measures and to respect security measures in force at the Site.
The Contractor also undertakes to ensure that the Subcontractors grant access to
the Owner under the terms of this subsection, for which purpose the Contractor
shall include in the contracts to be entered into with the Subcontractors an
obligation imposed upon them consistent with the provisions of this
subsection.

    

    

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              6.3

            	
              Minimum
      Stock and Supply of Spare Parts

            

    

    

    At the
time of execution of the Solar Park Provisional Acceptance Certificate, The
Contractor shall maintain a minimum stock of spare parts in accordance with the
provisions of Annex
5. Such minimum stock shall be maintained at all times until the
execution of the Final Acceptance Certificate, for which purpose the Contractor
undertakes to replace any material or equipment used during such period as
promptly as reasonably possible.

    

    Further,
Contractor shall be responsible for providing, upon the Owner’s request, spare
parts (in particular, modules, inverters and trackers, identical or similar to
those covered by this Contract, in accordance with the terms of Annex
5) necessary for the proper operation and maintenance of the Solar Park
in accordance with the terms of Clause 8.3.2(8) below.

    

    
      	
              6.4

            	
              Quality
      Control

            

    

    

    
      	
               
      

            	
              The
      Contractor must perform a quality control inspection of the modules, using
      standards for acceptance and rejection and testing and measurement
      protocols that are acceptable to the Technical Advisor.  For
      these purposes, the Contractor must inform the Technical Advisor of the
      quality control inspections that it is going to use in the performance of
      this Agreement, and detail the respective acceptance and rejection
      standards and testing and measurement protocols, such that the Technical
      Advisor can approve the same prior to the date on which such modules are
      expected to be received under this
Contract.

            

    

    

    Once the
Technical Advisor has verified the quality control inspection procedures, the
Contractor shall follow such quality control inspection procedures for all
modules received under this Contract, except with respect to those which are
subject to another quality control inspection that has been expressly approved
by the Technical Advisor in writing.

    

    
      	
              6.5

            	
              Regulatory
      Compliance

            

    

    

    
      	
              (1)

            	
              The
      Contractor undertakes to observe and comply with the regulations
      applicable to the performance of the Work, subject to the provisions of
      subsection (3) below.  In particular, the Contractor must ensure
      compliance with regulations regarding classified activities, safety,
      health, and environmental protection.  In particular, the
      Contractor shall be the only responsible party for compliance with
      applicable law and regulations with respect to (i) ***, and (ii)
      environmental protection during the period of manufacture, construction,
      erection and Tests until the Solar Park Provisional Acceptance Certificate
      has been executed.

            

    

     

    

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              (2)

            	
              The
      Contractor represents that it is current in the payment of wages and
      Social Security contributions for the professionals hired by the
      Contractor to perform the services covered by this Contract. Accordingly,
      the Contractor agrees to show to the Owner all documents that the Owner
      may reasonably request evidencing compliance with wage, tax and Social
      Security obligations (including, without limitation, certificates of good
      standing and compliance with tax obligations and the TC1 and TC2 Social
      Security dues bulletins).

            

    

     

    
      	
              (3)

            	
              In
      the event of any change in the applicable rules and regulations after the
      date on which this Contract is signed, the Parties shall proceed in
      accordance with the provisions of Clause 2.4(4) above. In the event that
      either Party does not sign the applicable change document, the Contractor
      shall continue to perform the work in compliance with the rules and
      regulations previously in force, and shall not assume any responsibility
      for any breach of the applicable new rules and
  regulations.

            

    

     

    

    
      	
              6.6

            	
              Permits
      and Authorizations

            

    

    

    
      	
              (1)

            	
              ***.  Further,
      both parties agree to follow the joint application procedure provided for
      in the last paragraph of subsection 1 of Section 12 of RD 661 and
      subsection 1 of Section 11 of Decree 299/2003, of November 4, of
      Castilla-La Mancha, such that the applications for the certificate
      relating to start-up and the definitive registration of the Solar
      Facilities and the Electrical Infrastructure shall be made jointly. The
      Parties recognize that making such joint application is an essential
      element for both Parties.  Such application shall be submitted
      by the Contractor before the Delivery Deadline, although in such
      submission (a) it
      shall be the responsibility of the Contractor to provide all information
      and documentation necessary to apply for the start-up certificate referred
      to in Sections 115 c) and 132 of Royal Decree 1.955/2000, of December 1,
      and (b) it shall
      be the responsibility of the Owner to provide all information and
      documentation necessary to apply for the definitive registration of the
      Solar Facilities and the Electrical Infrastructure with the Administrative
      Register of Solar Facilities Producing Power included within the Special
      Regimen, in accordance with the terms of Section 12 of RD 661. Once
      presented, the handling of the applications for the start-up certificate
      and the definitive registration of the Solar Facilities and the Electrical
      Infrastructure shall be the responsibility of the Owner, without prejudice
      to the Contractor’s obligation to cooperate with the Owner in all respects
      in accordance with the terms of Clause
6.11.

            

    

    

    
      	
              (2)

            	
              For
      clarification purposes:

            

    

    

    
      	
               
      

            	
              (i)

            	
              if,
      due to causes attributable to the Contractor, the application for the
      Final Start-up Certificate is not presented in accordance with subsection
      (1) above with respect to one or more Solar Facilities or to the Solar
      Park on or before the Delivery Deadline,
and/or

            

    

    

    

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              (ii)

            	
              prior
      to September 29, 2008, the Owner has not have obtained the Final Start-up
      Certificate as a result of design defects, defective or inadequate
      equipment or performance of the Work or of defects, imprecision or
      omissions in the documentation or in the technical information delivered
      by the Contractor,

            

    

    

    the Owner
shall have the right to terminate the Contract in accordance with the terms of
Clause 14.1. Notwithstanding the foregoing, the Owner may not terminate the
Contract and the Contractor shall not be held responsible for the consequences
occurring as a result of the failure to obtain the Final Start-up Certificate,
if this failure was due to (i) the Owner’s failure to deliver, or incomplete
delivery, of the documentation which Owner was required to furnish in connection
with the application for the Final Start-up Certificate (although the Contractor
recognizes that the Owner shall not be responsible for failure to provide
documentation required by Section 12 of RD 661 when such documentation could not
be obtained as a result of the failures, imprecision or omissions contemplated
in subsection (ii)
above), or (ii) the failure to request, late request or failure to obtain such
permits and authorizations that are not the responsibility of the Contractor
pursuant to this Contract; or (iii) any other circumstance not attributable to
the Contractor, such as delays by the respective administrative
entity.

    

    The Owner
agrees to cooperate with the Contractor in all respects needed for purposes of
the application or the procurement of ***.  Further, the Owner agrees
to inform the Contractor as soon as possible of any communication, request or
requirement received from a competent administrative authority relating to the
application for approval of the Final Start-up Certificate.

    

    In any
case, even in the event that the application for the Final Start-up Certificate
with respect to all of the Solar Facilities and the Electrical Infrastructure
has not been presented prior to the Delivery Deadline and, without prejudice to
the foregoing, both Parties agree to use their best efforts and to provide all
cooperation necessary to obtain the Final Start-up Certificate prior to
September 29, 2008.

    

    
      	
              6.7

            	
              Training
      of the Owner’s Personnel

            

    

    

     

    The
Contractor must adequately and sufficiently train the Owner’s personnel to
efficiently operate the Solar Park in all respects.  Such training
must be provided by the Contractor during the four week period prior to the
issuance of the Provisional Acceptance Certificate for the Solar Park and shall
have a maximum duration of five (5) Business Days. The personnel designated by
the Owner to receive such training shall not exceed five (5)
individuals.

     

    
      	
              6.8

            	
              Designation
      of Project Director

            

    

    

    

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              (1)

            	
              The
      Contractor shall name a Project Director with an officially recognized
      technical degree and relevant industry experience with similar
      projects.  The appointment of the Project Director must be
      submitted to the Owner for approval. The Owner may not reject a proposed
      candidate without just cause.

            

    

    

    
      	
              (2)

            	
              The
      Project Director shall be responsible for overseeing proper performance of
      the Work and for directing, managing, and supervising all of the
      activities necessary for the implementation of the services agreed to by
      the Contractor in accordance with the terms and time periods specified in
      this Contract.  Further, the Project Director shall be the
      principle contact between the Contractor and the Owner during the term of
      this Contract.

            

    

    

    
      
        	
              	
                (3) 

              	
                Without
      prejudice to the foregoing subsection, in accordance with the terms of
      this Contract and applicable law, the Contractor shall be responsible for
      the actions of the Project Director and any and all consequences arising
      from such actions.

              

      

    

    

    
      	
              6.9

            	
              Taxes
      and Import Duties

            

    

    

    The
Contractor agrees to pay all taxes, including all expenses, interest and
surcharges relating thereto, applicable to the supply, manufacture,
transportation, services, sales and other services for which the Contractor is
responsible under this Contract, except with respect to those whose payment is
expressly attributable to the Owner.

    

    
      	
              6.10

            	
              Intellectual
      and Industrial Property Rights

            

    

    

    All of
the drawings and designs that the Owner has prepared or supplied to the
Contractor, and all of the patents, copyrights, design rights and other
intellectual and industrial property rights thereto shall be the property of the
Owner.

    

    The
Contractor, in turn, grants to the Owner, as part of the Contract Price and at
no additional cost, an irrevocable license, not transferable to third parties
(except in conjunction with all of the rights and obligations of the Owner under
this Contract), and free of any royalties, to use in the Solar Park (and
therefore, in no other project) the creations, plans, drawings, specifications,
documents, procedures, methods, products, inventions prepared or developed by
the Contractor under this Contract, in all cases, subject to any restrictions
imposed on such intellectual or industrial rights by third parties. The
Contractor represents and warrants to the Owner that the same are owned by the
Contractor or that the Contractor has sufficient legal rights to use the same
for such purpose. Should any claim or action be brought by a third party
alleging an infringement of any intellectual or industrial property right
granted by the Contractor to the Owner hereunder, the Contractor shall indemnify
the Owner for all liabilities and damages (including costs and expenses) that
may arise as a consequence of such infringement of third parties' rights, claim
or actions arising there from.

    

    

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              6.11

            	
              Cooperation

            

    

    

    The
Contractor undertakes to provide to the Owner all of the cooperation that the
latter may reasonably request in connection with the implementation of the
project for the construction of the Solar Park and compliance with the Owner’s
obligations as specified in this Contract, and to submit to the Owner all of the
documentation or information that the Owner may reasonably request in connection
with the Work and that is available to the Contractor.

    

    
      	
              7.

            	
              OBLIGATIONS
      OF THE OWNER

            

    

    

    The Owner
undertakes to comply with the obligations set forth in this Contract, those
resulting from good faith, and those resulting from the applicable laws and
regulations, including, in particular, the following:

    

    
      	
               
      

            	
              (i)

            	
              To
      comply with its payment obligations under this
  Contract;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              To
      provide to the Contractor, its Subcontractors and employees, during the
      effective term of this Contract, access to the Site to fulfill their
      contractual obligations, including appropriate access to highways and
      access roads to perform the Work. For these effects, the Owner will
      execute, at its cost and expense, agreements with landowners that procure
      all necessary easements or land use
rights;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Subject
      and without prejudice to the obligations of the Contractor under Clauses
      6.6 and 2.2 of his Contract, the Owner shall negotiate and obtain, at its
      own cost and expense, the permits required for Final Start-Up and
      operation of the Solar Park, including the Final Start-up Certificate.
      Specifically, with respect to the joint application procedure referred to
      in Clause 6.6 of this Contract, the Owner agrees to provide all
      documentation and information required to apply for the definitive
      registration of the Solar Facilities and the Electrical Infrastructure
      with the Administrative Register of Solar Facilities Producing Power
      within the Special Regime, in accordance with the terms of Section 12 of
      RD 661, upon the terms of such Clause
6.6;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              To
      cooperate with the Contractor, to the extent necessary, in order to avoid
      any impact on the Implementation Schedule or in the performance of the
      works by the Contractor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              To
      appoint a project coordinator to act on behalf of the Owner in the
      performance of matters associated with the Contract and who must possess
      sufficient powers to represent the
Owner;

            

    

    

    
      	
               
      

            	
              (vi)

            	
              The
      Owner undertakes to provide to the Contractor all of the cooperation that
      the latter may reasonably request in connection with the implementation of
      the Work and compliance with the Contractor’s obligations under this
      Contract.  The Owner shall submit to the Contractor all
      documentation or information that the Contractor may reasonably request in
      connection with the Solar Park and that is available to the
      Owner.

            

    

    

    

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              8.

            	
              GUARANTEES

            

    

    

    8.1           Solar
Module Degradation Guarantee

    

    
      	
               
      

            	
              The
      Contractor guarantees the durability of the solar modules during the
      Guarantee Period, in accordance with the schedule of guarantees made by
      the manufacturer of the modules set forth on Annex
      6 of this Contract.  Upon expiration of the Guarantee
      Period, the Contractor undertakes to assign to the Owner its rights under
      the module supplier guarantees through the remainder of the 25-year useful
      life of the modules.

            

    

     

    
      	
              8.2

            	
              Solar
      Module Capacity Guarantee

            

    

     

    
      	
              (1)

            	
              The
      Contractor guarantees that the total peak capacity of the Solar Park is
      equal to or higher than the contracted capacity of 11,850 kWp (which will
      be confirmed by the manufacturer’s photoflash certificates). In addition,
      all certificates for each module shall be within the rated peak capacity
      margin of ***% and all aggregate certificates for each of the Solar
      Facilities shall be within the rated peak capacity margin of ***%
      (although the Solar Park aggregate can only have a margin with respect to
      the above referenced peak capacity of ***%, in which case the Contract
      Price shall be reduced proportionately in accordance with the final
      reduced peak capacity and the corresponding amount of the final Payment
      Milestone contemplated in Clause 4.2 reduced
  accordingly).

            

    

     

    
      	
              (2)

            	
              In
      the event that (i) the total sum of the certificates is less than the
      contracted 11,850 kWp (unless it is within the permitted margin for the
      Solar Park pursuant to subsection (1) above), or (ii) the certificates do
      not comply with the above referenced margins, the Contractor shall
      replace, at its expense, solar modules as needed to increase the total
      peak capacity of the Solar Park to the minimum permitted under subsection
      (1) above, or those modules whose individual capacity is inferior to the
      aforementioned tolerance.

            

    

     

    
      	
              (3)

            	
              If,
      as of the date set forth in Clause 14.1(1)(i), the sum of the
      manufacturer’s photoflash certificates demonstrate the peak capacity of
      the Solar Park is less than the referenced total peak capacity (unless it
      is within the permitted margin for the Solar Park set forth in subsection
      (1) above), the Owner may terminate the Contract for Contractor breach in
      accordance with the terms of Clause 14.1, and pay the indemnity set forth
      in such Clause.

            

    

     

    
      	
              (4)

            	
              The
      Owner reserves the right to perform capacity tests on the solar module
      samples that have been provided at the CIEMAT, CENER or IFE-Frauhofer
      laboratories, in accordance with the applicable IEC (International
      Electrotechnical Commission) standard in order to confirm their compliance
      with the capacity specified by the manufacturer and guaranteed by the
      Contractor. The results thereof shall be binding on the Parties. In the
      event that such results confirm that the capacity of the modules does not
      fall within the tolerance guaranteed by the Contractor, the Contractor
      shall bear the costs of such tests and shall immediately replace the
      entire batch of modules corresponding to the tested samples, except to the
      extent that the modules failing the capacity test can be identified, in
      which case, only those modules shall be
  replaced.

            

    

     

    

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              8.3

            	
              Design,
      Assembly and Performance Guarantee. Materials Quality
      Guarantee.

            

    

    

    
      	
              8.3.1

            	
              Design, Assembly and
      Performance Guarantee

            

    

    
      	
               
      

            	 

    

    
      	
              (1)

            	
              The
      Contractor guarantees during the Guarantee Period that the procedures
      followed for the design of the facilities and for the performance of the
      work are of the required quality and conform to the specifications
      contained in this Contract.

            

    

    

    
      	
              (2)

            	
              The
      Contractor is obliged to repair or, if necessary in its opinion, to supply
      totally new, and reinstall free of charge to the Owner, those parts or
      components of the facilities included in the Scope of Work that fail
      during the Guarantee Period due to design, assembly or performance
      defects.

            

    

    

    
      	
              (3)

            	
              The
      provisions of subsections 8.3(2) to (8) below with respect to the
      Materials Quality Guarantee shall apply, mutatis mutandis, to
      the guarantee provided under this
subsection.

            

    

    

    
      	
              8.3.2

            	
              Materials Quality
      Guarantee

            

    

    

    
      	
              (1)

            	
              The
      Contractor guarantees that all the materials and components used in the
      manufacture, assembly and Start-up of the Solar Park are of the required
      quality and conform to the specifications for the equipment and the
      technical documents contained in the Annexes to this
      Contract.  The Contractor further guarantees a minimum stock of
      spare parts to the Owner in accordance with the terms of Clause 6.3 and
      Annex
      5 of this Contract.

            

    

    
      	
               
      

            	 

    

    
      	
              (2)

            	
              The
      materials quality guarantee will enter into force on the date of issuance
      of the relevant Solar Park Provisional Acceptance Certificate and shall
      remain in force until the Solar Park Final Acceptance Certificate is
      signed. If the Solar Park or a portion thereof, cannot be commercially
      operated during the Guarantee Period for reasons attributable to the
      Contractor, the Guarantee Period shall be extended (only as regards the
      affected facilities) for a period equal to the period during which the
      corresponding facilities are not operating.  For this purpose,
      the parties shall record in writing the periods during which operation is
      suspended and the corresponding extensions of the
    guarantee.

            

    

    

    
      	
              (3)

            	
              During
      the Guarantee Period, the Contractor is required, in its
      discretion:

            

    

    

    

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              a)

            	
              To
      replace any material and equipment that do not comply with what was agreed
      upon or required pursuant to this Contract, or that are inadequate or of a
      deficient quality; and

            

    

    

    
      	
            	
              b)

            	
              To
      adjust, repair or replace any equipment exhibiting any design, materials,
      manufacturing, operation, or performance defect. If a Systemic Defect
      exists with respect to any equipment or components supplied under this
      Contract, the Contractor shall carry out, at its expense, the redesign
      and/or modifications necessary to cure such problem in accordance with the
      Owner’s requirements.

            

    

    

    
      	
              (4)

            	
              The
      adjustments, repairs or replacements must be performed within the shortest
      period that is reasonably possible (and, in any event, no later than
      fifteen (15) days from the time the defect is detected), in a manner that
      is least prejudicial to the Owner and taking all action needed to cause
      the least possible harm to the operation of the overall facilities of the
      Solar Park.

            

    

    

    If the
Contractor fails to make the above-mentioned adjustments, repairs, or
replacements within the period established in this Clause, the Owner shall so
inform the Contractor and shall grant the Contractor a period of five (5) days
to complete any such adjustments, repairs or replacements. If the Contractor
fails to make the above-mentioned adjustments, repairs, or replacements within
such period, the Owner may do so itself or through third parties at the
Contractor's expense, which action shall not entail forfeiture of the quality
guarantee provided by the Contractor under this Clause. The Contractor shall be
also required to pay to the Owner the direct expenses paid to the
above-mentioned third parties for such purpose.

    

    
      	
              (5)

            	
              Repairs,
      adjustments, alterations, replacements or maintenance that may be
      necessary because of the normal wear and tear of on the facilities
      provided under this Contract or caused by misuse or negligent use of the
      equipment by the Owner or by third parties (other than the Contractor or
      its Subcontractors) or because of the use of the equipment supplied to
      Owner in a manner that does not conform to the technical specifications,
      are all excluded from the scope of the guarantee.  For
      clarification purposes, it shall be understood that the Owner (or third
      parties acting on its behalf) has used equipment in the intended manner
      when such use conforms to the operation and maintenance manuals delivered
      to the Owner by the Contractor pursuant to this Contract.  This
      guarantee may not be enforced in the event of the inaccessibility of the
      Site, provided that the Contractor has notified the Owner of the existence
      of such inaccessibility, or, in the events of Force Majeure (for such
      time as exist the circumstances preventing the provision
      thereof).

            

    

    

    
      	
              (6)

            	
              The
      obligations arising from the guarantee set forth in this section shall be
      fulfilled by the Contractor at its sole cost and expense and free of any
      charges or expenditures by the Owner, and the Contractor shall bear the
      expenses arising as a result thereof for the Owner, such as demolition and
      disassembly, construction, carting, insurance and packaging for returned
      materials and their replacement, assembly and supervision, taxes and the
      like.

            

    

    

    

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              (7)

            	
              All
      repaired or replaced material shall carry a new guarantee period of the
      following duration from the date of repair or
  replacement:

            

    

    

    
      	
               
      

            	
              (i)

            	
              if
      repaired, *** (***) months or the time remaining until the issuance of the
      Solar Park Final Acceptance Certificate, whichever is longer;
      and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              if
      replaced, *** (***) months or the time remaining until the issuance of the
      Solar Park Final Acceptance Certificate, whichever is
    longer.

            

    

     

    
      	
              (8)

            	
              The
      Contractor guarantees the availability of spare parts for the modules,
      inverters and solar trackers during the Guarantee Period and during the
      entire useful life of each Solar Facility, in the latter case provided the
      Maintenance Agreement remains in force. The Contractor shall provide such
      guarantee on the following terms:

            

    

     

    
      	
               
      

            	
              (i)

            	
              With
      respect to the module, inverter or solar tracker spare parts that are
      manufactured by the Contractor or by companies of its group (currently
      headed by Sunpower Corporation), the Contractor shall ensure that such
      spare parts continue to be manufactured or, in the event that the
      Contractor or the companies of its group do not manufacture spare parts
      identical to those already installed, that spare parts for modules,
      inverters or solar trackers of similar characteristics (and, in the case
      of modules, of equal or greater capacity) are available, provided they do
      not entail a reduction in the guaranteed performance of the Solar
      Park.

            

    

     

    
      	
               
      

            	
              (ii)

            	
              With
      respect to the module, inverter or solar tracker spare parts that are not
      manufactured by the Contractor or by companies of its group, the
      Contractor shall use reasonable efforts to (a) cause the respective
      suppliers to continue to manufacture such spare parts or other spare parts
      with similar characteristics (and, in the case of modules, of equal or
      greater capacity), provided they do not entail a reduction of the
      guaranteed performance of the Solar Park, or (b) obtain such spare parts
      with similar characteristics from other vendors with technical
      capabilities that are at least similar to the original
      ones.  Should the Contractor become aware that an original
      vendor intends to stop manufacturing such spare parts, it shall so notify
      the Owner so that the Owner may order, through the Contractor, the spare
      parts it deems appropriate, provided they are available on the
      market.

            

    

     

    Such
spare parts will be supplied at the Owner’s request at the market prices
prevailing from time to time (which shall be paid by the Owner) and within such
reasonable period as the Parties agree, taking into account the characteristics
of the requested spare part.

     

    

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              8.4

            	
              Solar
      Park Production Guarantee.

            

    

    

    
      	
              (1)

            	
              The
      Contractor guarantees to the Owner that the aggregate electric output of
      the Solar Park during each of the *** periods included in the Production
      Guarantee Period shall reach the PR guaranteed pursuant to Annex
      10 (the “Guaranteed PR”), for
      each determined irradiance and temperature condition, and that in no event
      shall it fall beneath the PR minimum set forth in such Annex (the “Minimum
      PR”).

            

    

     

    In the
event of a partial termination of the Contract in accordance with the provisions
of Clause 14.1, the Guaranteed PR and the Minimum PR shall be applied to the
electric output of the Solar Facilities that were not rejected by the Owner.

    

    
      	
              (2)

            	
              A
      Production Test shall be performed at the end of each *** period dividing
      the Production Guarantee Period in order to confirm the electrical
      output.  For these purposes, within the forty-five (45) days
      prior to the termination of the *** period following the commencement date
      of the Production Guarantee Period, and within the forty-five (45) days
      prior to the termination of the Production Guarantee Period, the
      Contractor shall notify the Owner of such circumstance so that the Parties
      may agree upon a date the perform the Production Tests for the
      corresponding *** period (which, in no event may be later than the date
      which is fifteen (15) Business Days following the date of termination of
      the period which is *** following the commencement date of the Production
      Guarantee Period or the termination date of the Production Guarantee
      Period, as applicable). The following shall apply to the results of the
      Production Tests for the Solar
Park:

            

    

     

    
      	
               
      

            	
              (a)

            	
              If
      the actual measured output of the Solar Park is less than the Guaranteed
      PR for the corresponding *** period (as such term is defined in Annex
      10) but is greater than the Minimum PR for such period, the
      Contractor shall pay to the Owner the penalties set forth in Annex
      10, up to a maximum of ***% of the Contract Price.
  

            

    

     

    
      	
               
      

            	
              (b)

            	
              If
      the actual measured output of the Solar Park is less than
      the  Minimum PR for the corresponding *** period,  the
      Owner may elect to: (i) return the entire
      Solar Park to the Contractor (or the part thereof that was not rejected in
      the event of a partial termination in accordance with the terms of Clause
      14.1), the Contractor then being obligated to return the entire Contract
      Price paid by the Owner pursuant to this Contract and to indemnify the
      Owner for damages pursuant to Clause 14.1(5), or (ii) return the Solar
      Facilities causing the failure to achieve the Minimum PR to the
      Contractor, the Contractor then being obligated to return the portion of
      the Contract Price corresponding to such Solar Facilities and to indemnify
      the Owner for damages pursuant to Clause 14.1(5) that correspond to the
      returned Solar Facilities.

            

    

     

    

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              (3)

            	
              If
      the Guaranteed PR is reached in the Production Tests for each *** period,
      or if the Contractor shall have paid the required penalties for achieving
      an output between the Minimum PR and the Guaranteed PR, the Parties shall
      execute a certificate of agreement.  The execution of such
      certificate corresponding to the second *** period for the Guaranteed
      Production Period shall grant the Contractor the right to require the
      Owner to return the Guarantee Bond in force at the time and replace the
      same with a new Guarantee Bond in an amount equal to ***% of the Contract
      Price.  The same provisions of this subsection shall also be
      applied to the Solar Facilities, if any, that the Owner did not return in
      accordance with subsection
8.4(2)(b).

            

    

     

    
      	
              (4)

            	
              The
      Contractor shall not be responsible for breach of the guarantees in the
      event that such failure was caused by the circumstances described in
      Clause 8.3.2(5) above or by excessive failures of the grid coupled with
      the disconnection of the inverters for exceeding the conditions detailed
      in their technical specifications.

            

    

    

    
      	
               
      

            	
              Further,
      in the event that a Systemic Defect arises during a Production Guarantee
      Period, the data from the Solar Park as a whole shall not considered for
      purposes of the Production Guarantee during the time the Contractor is
      replacing the equipment affected by such Systemic Defect, up to a maximum
      of three (3) months.  Thus, in the event that the Contractor
      takes more than three (3) months to replace the Solar Park equipment
      affected by a Systemic Defect, only that three (3) month period shall
      remain in the Production Guarantee Period. For this purpose, the parties
      shall record the suspension periods and corresponding extensions of the
      Production Guarantee in writing.

            

    

    

    
      	
               
      

            	
              For
      clarification purposes, the appearance of a Systemic Defect shall obligate
      the Contractor to replace all equipment of the same model and
      manufacturer, regardless of whether they have manifested such defect at
      the time of their replacement.

            

    

    
      	
               
      

            	 

    

    
      	
               
      

            	
              8.5

            	
              Bonds

            

    

    

    
      	
              (1)

            	
              On
      the Condition Satisfaction Date, the Contractor shall deliver to the Owner
      the Performance Bond, as per the form attached hereto as Annex
      7, in an amount equivalent to ***% of the Contract Price. The
      Performance Bond shall guarantee the performance by the Contractor of any
      payment obligation for which the Contractor is responsible from the
      commencement of the Work until the date of execution of the Solar Park
      Provisional Acceptance Certificate (for any reason, including but not
      limited to the return of the amounts paid by the Owner, under this
      Contract, and penalties or compensation for damages and losses, including
      the performance by the Contractor of its obligations during the portion of
      the Guarantee Period prior to the execution of the Solar Park Provisional
      Acceptance Certificate).

            

    

    

    
      	
              (2)

            	
              As
      a requirement for the execution of the Solar Park Provisional Acceptance
      Certificate, the Contractor shall deliver to the Owner the Guarantee Bond
      (in exchange for the return of the Performance Bond by the Owner), in an
      amount equal to ***% of the Contract Price. The Guarantee Bond shall
      conform to the form attached hereto as Annex
      7 and shall guarantee the Contractor’s compliance with its
      obligations during the Guarantee Period (beginning from the execution of
      the Solar Park Provisional Acceptance Certificate). However, once the
      Performance Tests corresponding to the second *** period of the Production
      Guarantee Period have been performed and the written agreement referred to
      in Clause 8.4(3) has been executed, the Contractor shall have the right to
      replace the Guarantee Bond delivered to the Owner with a new Guarantee
      Bond in an amount equal to ***% of the Contract
  Price.

            

    

    

    

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              (3)

            	
              The
      Performance Bond and the Guarantee Bond shall be issued by a financial
      institution with a minimum “A” rating by Standard & Poor’s Corporation
      or the equivalent from Moody’s Investors Services Inc., and shall be
      enforceable, in whole or in part, on demand by the Owner, in the event of
      the Contractor’s breach of its obligations under this
      Contract.

            

    

    

    
      	
              (4)

            	
              The
      delivery of the bonds provided under this section shall in no way limit
      the Contractor's liability under this Contract, as the bonds only
      constitute a means to guarantee the performance of the obligations assumed
      by the Contractor.

            

    

    

    
      	
              (5)

            	
              If
      the Contract Price is amended pursuant to Change Orders, the Contractor
      must update the amount of the Performance Bond. To such end, the
      Contractor must deliver to the Owner (within fifteen (15) Business Days
      following the execution of the corresponding Change Order), another bond
      in the updated amount, in the form attached hereto as Annex
      7.

            

    

    

    
      	
              9.

            	
              FINAL
      ACCEPTANCE OF THE SOLAR PARK

            

    

    

    
      	
              (1)

            	
              Within
      forty-five (45) days prior to the passage of *** from the date on which
      the Solar Park Final Start-Up Certificate has been obtained, the
      Contractor shall give notice thereof to the Owner in order for both
      Parties to agree upon a date to analyze the status and condition of the
      Solar Park (which shall not occur later than the Guarantee Period
      expiration date).

            

    

    

    
      	
              (2)

            	
              If
      such inspection does not reveal the presence of defects, the Parties shall
      proceed to execute the Final Acceptance Certificate, at which time the
      Owner shall return the Guarantee Bond to the
  Contractor.

            

    

    

    
      	
              (3)

            	
              If
      such inspection finds that defects are present that affect the
      Contractor's obligations during the Guarantee Period, the Parties shall
      sign a certificate specifying the defects, if any, that must be corrected
      within a period of forty-five (45) days of the date of execution of the
      corresponding certificate, or within such shorter period that the Parties
      may agree upon.

            

    

    

    

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              Once
      such defects have been corrected by the Contractor within the specified
      period, a new inspection shall be performed, and if the defects have been
      remedied, the Parties shall proceed to execute the Final Acceptance
      Certificate, and the Owner shall return the Guarantee Bond to the
      Contractor.

            

    

    

    
      	
              10.

            	
              OWNERSHIP
      OF THE FACILITIES AND TRANSFER OF
RISK

            

    

    

    
      	
              (1)

            	
              The
      Owner and the Contractor expressly agree that the actual transfer of
      ownership of the facilities and equipment covered by this Contract will be
      made, for all contractual purposes, when each of the same shall have been
      paid for in full by the Owner. With respect to the solar modules, module
      supports and trackers, ownership thereof will be transferred to the Owner
      upon payment of the respective invoice as provided in Clause 4, whereupon
      the Owner will become the owner of the solar modules, the module supports
      and the trackers included in such
invoice.

            

    

    

    
      	
              (2)

            	
              Without
      prejudice to the foregoing, or to the Contractor’s obligations during the
      Guarantee Period, the possession and the risk of loss of the same shall
      not be transferred to the Owner until the execution of the Solar Park
      Provisional Acceptance Certificate.

            

    

    

    
      	
              (3)

            	
              Until
      the execution of the Solar Park Provisional Acceptance Certificate, the
      Contractor must repair or replace, at its own expense, any equipment,
      facility or portion of Work that is lost or damaged.  Further,
      the Contractor must assume responsibility for the care and security of the
      Site and assume responsibility for any loss, theft or damage that may
      occur with respect to the Contractor’s materials or machinery or the
      equipment delivered pursuant to this
Contract.

            

    

    

    
      	
              11.

            	
              INSURANCE

            

    

    

    
      	
              (1)

            	
              At
      all times during which the Contractor continues performing work under this
      Contract, the Contractor, at its own cost and expense, shall take out and
      maintain in force the insurance described below with well-known and
      solvent insurance companies that are legally authorized to issue policies
      in Spain, on terms and conditions of coverage satisfactory to the Owner
      and the Insurance Advisor:

            

    

    

    
      	
               
      

            	
              a)

            	
              Occupational
      Accidents or Social Security Insurance for all its own personnel or for
      the personnel of the Subcontractors as is legally required during the
      effective period of the Contract.

            

    

    

    
      	
               
      

            	
              b)

            	
              Mandatory
      Civil Liability Insurance and Voluntary Civil Liability Insurance for the
      Circulation of Vehicles and Machinery, pursuant to the limits and
      conditions mandated by the Legislation in force during the effective
      period of the Contract.

            

    

    

    

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              c)

            	
              Civil
      Liability Insurance covering all activities of the Contractor and the
      Subcontractors necessary to complete the Work, with a limit of not less
      than €1,500,000 per occurrence.

            

    

    

    
      	
               
      

            	
              d)

            	
              Transportation
      Insurance covering the transportation of material and machinery to the
      Site, with a limit of not less than the aggregate value of the transported
      goods.

            

    

    

    
      	
               
      

            	
              e)

            	
              All-Risks
      Construction and Assembly Insurance, which will specifically include theft
      and vandalism at the Site, from the unloading of the material at the Site
      until the transfer of ownership of the Solar Park, including the testing
      period and covering a maintenance period of not less than 12 months, with
      an insured amount not less than the Contract
  Price.

            

    

    

    
      	
               
      

            	
              f)

            	
              Any
      other mandatory insurance.

            

    

    

    
      	
              (2)

            	
              The
      contracting of insurance provided in this clause shall in no event limit
      the liabilities of the Contractor under this Contract. Additionally, the
      amounts established as an insurance deductible in each of the insurance
      policies shall be borne by the Contractor, unless the loss is attributable
      to the Owner.

            

    

    

    
      	
              (3)

            	
              The
      Owner may require that the Contractor deliver documentation evidencing the
      contracting of the insurance set forth under this Clause to verify
      compliance therewith and/or for verification by the Insurance Advisor, and
      the Contractor undertakes to make such documentation available to the
      Owner as soon as possible.

            

    

    

    
      	
              12.

            	
              FORCE
      MAJEURE

            

    

    

    
      	
              (1)

            	
              Neither
      Party shall be deemed liable for the breach of any of its obligations to
      the extent that the performance of such obligations is delayed or becomes
      impossible as a consequence of Force
      Majeure.

            

    

    

    
      	
              (2)

            	
              For
      the purposes of this Contract, events of Force Majeure shall be
      deemed to be the events described in Article 1105 of the Civil Code,
      provided that they actually prevent compliance by the party invoking it
      from complying in whole or in part with its obligations under this
      Contract. The Parties expressly agree that the discovery of archeological
      ruins at the Site shall be considered an event of Force Majeure for
      purposes of this Contract (without prejudice to the changes, if any, that
      the Parties may agree to in accordance with subsection (11) below and the
      consequences set forth therein). By way of example and not limitation, the
      Contractor may not invoke the following as an event of force
      majeure:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Meteorological
      conditions or phenomena that could have been reasonably foreseen by
      experienced contractors operating at the
Site.

            

    

    

    

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              (ii)

            	
              Delays
      or failures in obtaining materials or labor that are foreseeable or
      avoidable in advance.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Delays
      by any Subcontractor, unless such delays are based on any of the events
      specified in this clause.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Strikes
      or labor conflicts affecting the Contractor or the Subcontractors, unless
      they are national, sector-wide or local in
  scope.

            

    

    

    
      	
              (3)

            	
              The
      Party affected by Force
      Majeure shall give written notice to the other Party as soon as
      possible within a maximum period of forty-eight (48) hours from the day on
      which such Party became aware thereof, attaching to such notice all
      available documents evidencing the event that is deemed to amount to Force Majeure, the
      measures taken up to such point in time, and an estimation, if possible,
      of the expected duration thereof and its impact on the
  Work

            

    

    

    
      	
              (4)

            	
              The
      performance of the obligations affected by an event of Force Majeure shall be
      suspended for the duration of such event, the Parties not being entitled
      to damages as results of such events of Force
      Majeure.

            

    

    

    
      	
              (5)

            	
              If
      the Work is affected by the event of Force Majeure and the
      Contract is suspended for more than one hundred eighty (180) days, either
      of the Parties may seek termination of the Contract, with the consequences
      provided in Clause 14.3.

            

    

    

    
      	
              (6)

            	
              After
      cessation of the event of Force Majeure, the
      Parties shall agree upon the corresponding extension of deadlines (in all
      cases in light of the duration of the event of Force Majeure and the
      mobilization periods), or, if applicable, the measures that must be
      adopted to recover, in whole or in part, the time lost so as to preserve
      such dates, if possible. The contractual obligations not affected by Force Majeure must be
      met within the deadlines that were in force prior to the occurrence of the
      event of Force
      Majeure.

            

    

    

    
      	
              (7)

            	
              In
      any event, upon cessation of the event of Force Majeure, the
      Parties shall take all reasonable measures within their power to resume
      performance of the obligations under the Contract under optimal conditions
      and with the least possible delay.

            

    

    

    
      	
              (8)

            	
              The
      expenses incurred as a consequence of the repair, replacement or
      adjustment of the items damaged by the events of Force Majeure shall be
      borne by the party bearing the risk of loss for such elements at the time
      of occurrence of the event of Force
      Majeure.

            

    

    

    
      	
              (9)

            	
              In
      the event that an event of Force Majeure prevents
      a Party from complying with a payment obligation required by the Contract,
      such payment obligation shall not be waived and the other Party may
      suspend performance of its obligations under the Contract.  Such
      occurrence shall not give either Party a right to indemnification for
      damages, without prejudice to any interest for delay in payment that might
      apply.

            

    

    

    

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              (10)

            	
              The
      Party claiming the Force
      Majeure event shall immediately notify the other Party of its
      cessation.  Within seven (7) calendar days following the
      cessation of the Force
      Majeure event, the Parties shall meet to agree and assess the
      effects that such situation caused.  Such agreement shall be
      documented in a certificate signed by both Parties describing the changes
      to the contractual conditions.

            

    

    

    
      	
              (11)

            	
              In
      the event that archeological ruins are discovered at the Site, but the
      Work may be continued by reducing the size of the Solar Park, the number
      of Solar Facilities, or by implementing a reconfiguration of the technical
      configuration of the Solar Park, the Parties shall meet to agree on such
      changes and shall execute a certificate describing the changes to the
      contractual conditions.  In any event, if the change entails a
      reduction in the capacity of the Solar Park, or in the number of Solar
      Facilities, thus requiring a reduction of the Contract Price, the Owner
      shall have the right to withhold from the remaining Payment Milestones
      payable after the change, the portion of the Contract Price previously
      paid by the Owner that corresponds to the Solar Facilities or the
      equipment affected by the reduction and which, consequently, were not
      delivered by the Contractor under this
Contract.

            

    

    

    
      	
              13.

            	
              SUSPENSION
      OF THE WORK

            

    

    

    
      	
              13.1

            	
              Suspension
      by the Owner

            

    

    

    
      	
              (1)

            	
              The
      Owner may at any time give written notice to the Contractor ordering the
      immediate suspension of the Solar Park, in whole or in part, for any of
      the following reasons:

            

    

    

    
      	
               
      

            	
              a)

            	
              If
      the Contractor is performing the Work in a defective or inappropriate
      manner or not adhering to uses and practices customary for projects of
      this type or as established under this Contract, provided that the
      Contractor does not cure such defects within a reasonable period granted
      by the Owner.

            

    

    

    
      	
               
      

            	
              b)

            	
              If
      the means and methods used by the Contractor are not appropriate to ensure
      the performance of the Work in accordance with safety standards, avoiding
      damage to people and things, provided that the Contractor does not cure
      such defects within a reasonable period granted by the
    Owner.

            

    

    

    
      	
               
      

            	
              c)

            	
              If
      the means and methods used by the Contractor are not appropriate to ensure
      the performance of the Work in accordance with quality control
      requirements, provided that the Contractor does not cure such defects
      within a reasonable period granted by the
Owner.

            

    

    

    

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              d)

            	
              If
      the Contractor fails to comply with the instructions issued by the
      Governmental Authorities for the execution of the Work, to the extent that
      this may affect the authorizations granted or requested or the successful
      achievement of the purpose of the
Contract.

            

    

    

    
      	
               
      

            	
              e)

            	
              By
      unilateral decision of the Owner.

            

    

    

    
      	
              (2)

            	
              The
      order providing for the suspension of the Work shall specify in writing
      the portion thereof that is being suspended, the grounds for suspension,
      the effective date of suspension and the date provided for the resumption
      of the Work (if applicable).

            

    

    

    
      	
              (3)

            	
              In
      all the cases provided in subsection (1) above, except for the ones
      mentioned in subsection (e), the suspension shall last for all the time
      required and until the Contractor cures the circumstances that gave rise
      to the suspension of the Work. Additionally, in none of such cases shall
      the Contractor be entitled to any additional payment whatsoever or to the
      extension of the periods provided in the Implementation Schedule, except
      in the case mentioned in subsection (e), where the Contractor shall be
      entitled to an extension of the deadlines provided in the Implementation
      Schedule for a period at least equal to the suspension period and to be
      compensated for the costs resulting from the repair, replacement or
      adjustment of the items damaged during the suspension period and the costs
      arising from the suspension and resumption of the
  Work.

            

    

    

    
      	
              (4)

            	
              If
      the suspension lasts for a period in excess of one hundred and eighty
      (180) days, and the reasons are not attributable to the Owner, the
      Contractor shall reserve the right to terminate the Contract upon the
      terms of Clause 14.1.

            

    

    

    
      	
              13.2

            	
              Suspension
      by the Contractor

            

    

    

    
      	
              (1)

            	
              The
      Contractor shall be entitled to temporarily suspend the Work as provided
      under this Contract, applicable law and in the event that the Owner incurs
      a delay in excess of thirty (30) days in the payments owing to the
      Contractor, as regards the expiration dates of the relevant invoices
      (except in the case of the works relating to a Payment Milestone disputed
      in accordance with Clause 4.3 (3)).  In such event, the Owner
      shall pay to the Contractor its expenses arising from the suspension
      (including the costs resulting as a consequence of the repair, replacement
      or adaptation of the damaged elements during the suspension period and the
      costs arising from the suspension and resumption of the Work) and the
      Parties shall agree upon an extension of the deadlines for performance
      based on the effects of the suspension
thereon.

            

    

    

    
      	
              (2)

            	
              If
      the suspension for a cause attributable to the Owner (including the one
      provided under subsection 13.1(1)(e) above) lasts for more than three (3)
      months or during several consecutive periods totaling more than three (3)
      months, the Contractor shall be entitled to terminate the Contract upon
      the terms of Clause 14.2.

            

    

    

    

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              13.3

            	
              Suspension
      by Judicial or Governmental
Authority

            

    

    

    
      	
              (1)

            	
              In
      the event of suspension, interruption or stoppage of the Work, in whole or
      in part, ordered by any judicial or governmental authority, or by the
      Owner or Contractor following the instructions of any judicial or
      governmental authority, the financial and contractual consequences of the
      delay shall be borne by the party that is responsible for performance
      where the failure to perform or incorrect performance triggered the
      judicial or governmental action.

            

    

    

    
      	
              (2)

            	
              If
      such suspension, interruption or stoppage does not result from the actions
      or omissions of any of the Parties, the periods of the Implementation
      Schedule shall be extended for a period at least equal to the one during
      which the situation subsisted, and the Owner shall pay to the Contractor
      the duly verified costs incurred as a result of such interruption. The
      Contractor undertakes to act diligently to minimize such
      costs.

            

    

    

    
      	
              (3)

            	
              If
      the suspension ordered by any judicial or governmental order, or by the
      Owner or the Contractor following the instructions of any judicial or
      governmental authority, extends for more than six (6) months, either of
      the Parties will be entitled to terminate the Contract upon the terms of
      Clause 14.

            

    

    

    
      	
              14.

            	
              TERMINATION

            

    

    

    
      	
              14.1

            	
              Termination
      for Causes Attributable to the
Contractor

            

    

    

    
      	
              (1)

            	
              The
      Owner may terminate the Contract in the cases authorized by the Law, in
      the instances provided for in this Contract, or upon the occurrence of any
      of the following events:

            

    

    

    
      	
               
      

            	
              a)

            	
              The
      dissolution or merger (provided it involves a change in control) of the
      Contractor ***, or when a substantial portion of the assets of the
      Contractor *** is transferred to another company, provided that such
      circumstances seriously prejudice the Contractor’s *** capacity to perform
      the obligations under this
Contract;

            

    

    

    
      	
               
      

            	
              b)

            	
              The
      voluntary filing by the Contractor of a bankruptcy petition or the
      allowance of a bankruptcy petition by a third party against the Contractor
      (or any equivalent action in accordance with the insolvency legislation
      applicable to the Contractor), or in the case of clear financial
      difficulties that prevent the Contractor from normally complying with
      obligations arising under the Contract, unless its obligations are
      sufficiently guaranteed under this Contract. The occurrence of the same
      events as regards *** shall also be grounds for
    termination.

            

    

    

    

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              c)

            	
              If
      the Contractor assigns or subcontracts the Contract, in whole or in part,
      without complying with the conditions set forth in this
      document.

            

    

    

    
      	
               
      

            	
              d)

            	
              If
      the Contractor fails to comply with its obligations involving the
      contracting and maintenance of the insurance provided under the Contract
      in a manner that might endanger coverage under the relevant
      policies.

            

    

    

    
      	
               
      

            	
              e)

            	
              If
      the Contractor has been assessed penalties for failure to achieve the
      Production Guarantee beyond the maximum limits, if applicable, provided
      under this Contract.

            

    

    

    
      	
               
      

            	
              f)

            	
              The
      Contractor has interrupted the Work or a substantial portion thereof or
      has abandoned the Solar Park for a period exceeding twenty (20) calendar
      days without the Owner’s authorization, or in the case of interruptions
      for an aggregate duration of more than thirty (30) days within the same
      calendar year, provided that the interruptions do not arise from a
      suspension of the Work provided under Clause
  13.2.

            

    

    

    
      	
               
      

            	
              g)

            	
              If
      the application for the Final Start-up Certificate has not been filed
      together with all required in accordance with the terms of Clause 6.6 on
      or prior to the Delivery Deadline due to causes attributable to the
      Contractor, although the Owner cannot effect termination for the reason
      set forth in this subsection with respect to those Solar Facilities or
      Electrical Infrastructure for which a Final Start-up Certificate would
      have been obtained prior to September 29,
2008.

            

    

    

    
      	
               
      

            	
              h)

            	
              If
      the Owner has not obtained the Final Start-up Certificate (with respect to
      one or more Solar Facilities and/or the Electrical Infrastructure) prior
      to ***, for the reasons set forth in Clause
  6.6(2)(ii).

            

    

    

    
      	
               
      

            	
              i)

            	
              If
      the Provisional Acceptance Certificate for one or more Solar Facilities or
      the Electrical Infrastructure has not been issued prior to
      ***.

            

    

    

    
      	
               
      

            	
              j)

            	
              ***

            

    

    

    
      	
               
      

            	
              k)

            	
              ***

            

    

    

    
      	
               
      

            	
              l)

            	
              If
      there is any other material breach of the obligations assumed by the
      Contractor under this Contract.

            

    

    

    
      	
               
      

            	
              m)

            	
              Any
      other serious breach of a principal obligation of the Contractor that
      might affect or prevent the successful conclusion of the Contract, or that
      is expressly designated herein as grounds for
  termination.

            

    

     

    
      	
              (2)

            	
              Upon
      the occurrence of any of the above events, the Owner may elect to
      terminate the Contract, in whole or in part, with respect to the Solar
      Facilities for which the Provisional Acceptance Certificate of a Facility
      has not been issued as of the date of notice of termination, or for which
      the Final Start-up Certificate has not been obtained in the case of
      subsections g) and h) above (hereinafter, the “Affected Facilities”),
      except to the extent that the number of Affected Facilities is less than
      40% of the total Solar Facilities, in which case the Owner may only
      terminate the Contract with respect to such Affected
      Facilities.

            

    

     

    However,
if the Affected Facilities represent less than 40% of the Solar Facilities, the
Owner may elect to terminate the Contract with respect to the entire Solar Park
if one of the termination events set forth in subsections a) or b) has occurred
and the Owner reasonably believes that such circumstances pose a material
prejudice or risk to the performance of the Contractor’s obligations under this
Contract during the Guarantee Period.  The foregoing shall not apply
if the Contractor has provided equipment guarantees, satisfactory to the Owner,
sufficient to ensure proper maintenance and replacement of the Solar Park during
the Guarantee Period and the Contractor has assigned such guarantees to the
Owner pursuant to the terms of this Contract.

     

    

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    The above
shall not prejudice the Owner’s option to return the Solar Park in its entirety
upon the occurrence of the circumstance set forth in Clause
8.4(2)(b).

    

    
      	
              (3)

            	
              Upon
      the occurrence of any of the above events, the Owner shall give the
      Contractor a period of thirty (30) days to remedy the event, or any other
      longer period that may be agreed upon by the Parties. If within such
      period the Contractor fails to remedy such grounds for termination to the
      Owner's satisfaction, the Contract shall be terminated (in whole or in
      part, as applicable).  For clarification purposes, it is noted
      for the record that in no event will the remedy period provided herein be
      applicable to the circumstances provided in subsections (1)(b), (e), (f),
      (g) , (h) and (i) of this Clause.

            

    

    

    
      	
              (4)

            	
              In
      the event of a termination of the Contract (in whole or in part) under
      this subsection, the following shall occur (without prejudice to the
      provisions of subsection (6)):

            

    

    

    
      	
               
      

            	
              (i)

            	
              In
      the event of partial
      termination, only as to some Solar Facilities in the Solar Park,
      the Contractor shall be obligated to return to the Owner the portion of
      the Contract Price that it charged for the Affected Facilities and shall
      be obligated to pay indemnification for any damages pursuant to subsection
      (5) below. The Contractor shall recover ownership of the property
      comprising such Solar Facilities.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              In
      the event of complete
      termination, the Contractor shall be obligated to return the
      aggregate Contract Price charged by the Contractor, and shall be obligated
      to pay indemnification for any damages pursuant to subsection (5) below.
      The Contractor shall recover ownership of all the property delivered to
      the Owner.

            

    

    

    

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              (5)

            	
              Upon
      the occurrence of either two events described in the preceding subsection,
      the Contractor shall be obligated to pay indemnification to the Owner for
      damages, including:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      Financial Costs associated with the Affected Facilities or the entire
      Solar Park, as applicable.  “Financial Costs” shall
      be understood to mean all costs, expenses, fees (whether up-front, early
      termination or of any other type) and interest paid by the Owner in
      respect of the financing documents entered into by the Owner with the
      Financial Institutions, including cancellation or breakage fees for any
      interest rate swap agreements entered into by the Owner with the Financial
      Institutions.

            

    

    

    The
Contractor acknowledges the validity of the amount, as determined by the Agent
under the financing documents, to be provided in the settlement statement that
will be delivered by the Agent to the Owner in which the factors used to
calculate the Financing Costs with respect to the Solar Facility or Facilities
or the Solar Park, as applicable, will be described.

    

    
      	
               
      

            	
              (ii)

            	
              The
      costs, expenses and damages incurred by the Owner as a result of, or with
      respect to, the early termination or the breach by the Contractor, duly
      certified by the Owner, plus an amount equal to *** euros for each
      Affected Facility (i.e., *** euros in the event of total termination or
      the amount that corresponds to the Affected Facilities in the event of a
      partial termination), to cover permitting
costs.

            

    

    

    Concurrently
with the payments provided for in subsections 15.1(4) and 15.1(5), the Owner
agrees to take all necessary actions which are in its control to assign to the
Contractor, or its designee, ownership title (free of encumbrances and liens) to
the permits and authorizations relating to the Affected Facilities (or the Solar
Park in its entirety in the event of total termination), as well as
corresponding usage rights (free of encumbrances and liens) to the part of the
Site on which such Affected Facilities are located and the contractual rights in
those contracts relating to the Solar Park with respect to the Affected
Facilities.  For purposes of this paragraph, it shall be understood
that the Owner has assigned (free of encumbrances and liens) all permits and
authorizations for the Affected Facilities or the Solar Park, as applicable,
upon delivery to the Contractor of all documentation required by the Contractor
(and which must be contributed by the grantor) to immediately request the
approval by the competent administrative entity for the assignment of such
permits and authorizations.

    

    In the
event that a special purpose entity holds title to such permits and
authorizations and usage rights to the Site, the Owner agrees to transfer to the
Contractor, free of encumbrances and liens, all shares or participations
representing the entire share capital of such special purpose entity (provided
that such entity only holds title to the Affected Facilities).

    

    

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    For
clarification purposes, in no event shall the above-referenced obligation be
construed as an obligation to achieve a specific result, and the Owner does not
assume any responsibility in the event that the assignment of the permits and
authorizations referred to in the previous paragraph cannot be completed as a
result of the failure to receive approval (when necessary) for such assignment
from the relevant government administration or entity or the Contractor’s
failure to comply with the requirements imposed on the Contractor by the holders
of such permits or authorizations.

    

    
      	
              (6)

            	
              Notwithstanding
      the provisions of subsections (4) and (5), if the Owner had the right to
      terminate the Contract, in whole or in part, as a result of the failure to
      achieve Start-up prior to September 29, 2008 for the reasons set forth in
      subsections 14.1(g) and 14.1(h) above, the Owner may not elect to return
      the Affected Facilities, if:

            

    

    

    
      	
               
      

            	
              (i)

            	
              prior
      to September 29, 2008 the Contractor pays to the Owner an amount that is
      sufficient to (a) restore the Debt Service Coverage Ratio (as defined in
      the financing documents referred to in Clause 14.1(5)(i)) to the Base Case
      (as defined in the financing documents referred to in Clause 14.1(5)(i))
      agreed to by the Financial Institutions and the Owner in such financing
      documents, and (b) cover the loss of profitability for the Owner’s
      shareholders, taking into account the tariffs which will be received by
      the Owner from the sale of power from the Solar Park. For such purposes,
      the Contractor acknowledges and accepts that the amount to be paid to the
      Owner (for the items set forth in the preceding subsection) will be
      proposed by the Agent for the Financial Institutions and negotiated
      between the Owner and the Contractor on the basis of the assumptions in
      the Base Case developed by the Owner and the Financial Institutions in
      connection with the financing documents;
and

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Start-up
      of the Affected Facilities shall have occurred prior to October 31,
      2008.

            

    

    

    The Owner may require the return of the
Solar Facilities for which the above requirements and Contractor payments have
not been met, each in accordance with the provisions of subsection (5)
above.

    

    
      	
              (7)

            	
              The
      Contractor is required to pay the amounts referred to in subsections (4)
      and (5) above to the Owner within *** days of the date of settlement of
      the amounts owed.

            

    

    

    
      	
              (8)

            	
              In
      all the foregoing instances, the Owner may, without prejudice to the
      reservation of rights to take all legal action to which it is entitled for
      the defense of its rights, adopt any or all of the following
      measures:

            

    

    

    

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              a)

            	
              Offset
      any payments pending in favor of the Contractor by an amount equivalent to
      the balance in favor of the Owner (returning, in the event of complete
      termination, the Performance Bond or the Guarantee Bond, as applicable,
      once such offset has been made).

            

    

    

    
      	
               
      

            	
              b)

            	
              Enforce
      the Performance Bond and/or the Guarantee
Bond.

            

    

    

    
      	
               
      

            	
              c)

            	
              Withhold
      the Contractor’s materials, machinery and items belonging to the
      Contractor that are in the possession of the Owner, until the Contractor
      has fully paid all amounts due as a consequence of the
      termination.

            

    

    

    
      	
              14.2

            	
              Termination
      by the Contractor

            

    

    

    
      	
              (1)

            	
              The
      Contractor may terminate the Contract under the circumstances provided for
      under applicable law, in this Contract, or upon occurrence of any of the
      following events:

            

    

    

    
      	
               
      

            	
              (i)

            	
              The
      voluntary filing by the Owner of a bankruptcy petition or the allowance of
      a bankruptcy petition filed by a third party against the Owner, or in the
      event of patent financial difficulties that would prevent the Owner from
      normally complying with the obligations arising under this Contract in
      cases different from the one provided under subsection (ii) below, unless
      its obligations are sufficiently guaranteed under this
      Contract.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              A
      delay in payment for a period in excess of sixty (60) days from the date
      on which payment should have been
made.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              Any
      other serious breach of a principal obligation of the Owner that might
      affect or prevent the successful conclusion of the Contract, or that is
      expressly designated herein as grounds for
  termination.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              A
      suspension of the works and services for causes attributable to the Owner
      for a period greater than three (3)
months.

            

    

    

    
      	
               
      

            	
              (v)

            	
              The
      dissolution of the Owner, or if a substantial portion of the assets of the
      Owner is transferred to another company, and such circumstance seriously
      prejudices the Owner’s capacity to perform the obligations set forth in
      this Contract.

            

    

    

    
      	
              (2)

            	
              The
      Contractor shall give to the Owner a period of thirty (30) days to cure
      the event, or any other longer period that may be agreed upon by the
      Parties. Such cure period shall not apply if the event giving rise to
      grounds for termination is one provided for in subsections (i) and (iv) of
      Clause 14.2(1) above. If the Owner fails to remedy such grounds for
      termination to the Contractor's satisfaction within such period, the
      Contract shall be terminated (in whole or in part, as
      applicable).

            

    

    

    

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              (3)

            	
              Upon
      termination of the Contract for any of the foregoing reasons, the Owner
      must:

            

    

    

    
      	
               
      

            	
              (i)

            	
              Pay
      all of the Contractor’s outstanding
invoices.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              Pay
      to the Contractor the value of the Work performed before termination and
      which is not yet included in the invoices. Accordingly, the Owner must pay
      to the Contractor the cost of the equipment already delivered to the
      Contractor or that it is legally required to accept under the contracts
      entered into with its suppliers and manufacturers, which shall become the
      property of the Owner if they had not already become
  so.

            

    

     

    However,
the Contractor undertakes to take such actions necessary or appropriate to
minimize the costs referred in this subsection. The Contractor shall include the
provisions required to that effect in the contracts with suppliers and
subcontractors.

     

    
      	
               
      

            	
              (iii)

            	
              Pay
      all duly authenticated damages that are sustained by the Contractor as a
      consequence of the contractual breach or early termination, including
      direct demobilization costs.

            

    

    

    
      	
               
      

            	
              (iv)

            	
              Return
      to the Contractor the Bonds received from the
  Contractor.

            

    

    

    
      	
              (4)

            	
              Upon
      the Owner’s compliance with the conditions set forth in the above
      subsection, the Contractor shall abandon the Site within a period of
      thirty (30) days and the Owner may complete the Work by itself or with
      another contractor, the Owner being entitled to request the Contractor to
      assign each and every contract signed by the Contractor and its
      subcontractors  (except contracts entered into for the supply of
      solar modules, supports and trackers or for the supply of technology and
      software, which the Owner may not assume). The Contractor is obligated to
      cooperate in good faith with the Owner to effect such
      assignments.

            

    

    

    
      	
              14.3

            	
              Termination
      due to Force
      Majeure

            

    

    

    
      	
               
      

            	
              In
      the event of termination of the Contract due to an event of Force Majeure, the
      provisions of subsections 14.2 (3) (i), (ii) and (iv) above shall
      apply.

            

    

    

    
      	
              15.

            	
              ASSIGNMENT
      AND SUBCONTRACTING

            

    

    

    
      	
              15.1

            	
              Assignment

            

    

     

    
      	
              (1)

            	
              The
      Contractor may not assign or transfer to third parties, in whole or in
      part, the economic, commercial or financial rights or credits arising
      under this Contract, or engage in any other transaction involving any type
      of disposition, encumbrance, commitment and/or transaction, in whole or in
      part, regarding such rights and credits, unless it has obtained the prior
      written approval of the Owner and the Financial Institutions. An
      assignment to other companies within the Contractor’s group that have the
      same technical capacity to perform the contractual obligations and that
      satisfy the requirements of the Direct Agreement is permitted,
      ***.

            

    

     

    

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              (2)

            	
              The
      Owner may only assign all or a portion of the rights and obligations
      arising under this Contract in favor of the Financial Institutions in
      accordance with Clause 17, or to any other third party with the prior
      written approval of the Contractor.

            

    

    

    
      	
              15.2

            	
              Subcontracting

            

    

    

    
      	
              (1)

            	
              The
      Contractor may subcontract the Work, provided the following conditions are
      met:

            

    

    

    
      	
               
      

            	
              (i)

            	
              All
      the subcontracts executed (except the contracts entered into for the
      supply and manufacture of solar modules, supports and trackers or for the
      supply of technology and software, which Owner may not assume) and all
      guarantees obtained from any of the suppliers or Subcontractors may be
      assigned at the request of the Owner in the event of termination of this
      Contract. For such purpose, the Contractor irrevocably undertakes to
      assign to the Owner and the Financial Institutions the rights arising from
      all the guarantees and subcontracts obtained from Authorized
      Subcontractors upon the expiration of the Guarantee Period or in the event
      of termination of the Contract.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              The
      guarantees or subcontracts executed by the Contractor with Subcontractors
      or suppliers shall be consistent with the terms and provisions of this
      Contract.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              The
      Contractor shall deliver to the Owner, within a reasonable period after
      the request thereof, a copy without prices or other commercial terms, of
      all the contracts, agreements and guarantees signed with the
      Subcontractors (containing the waiver referred to in subsection (3)
      below)

            

    

    

    
      	
              (2)

            	
              In
      no event shall a contractual relationship be implied among the
      Subcontractors and the Owner. The Contractor shall remain liable for all
      of the activities of its Subcontractors and suppliers and for all
      contractual and labor obligations arising from the performance of their
      work; as well as for the actions, failures and negligence of any of its
      subcontractors or suppliers and the agents and employees thereof, under
      the same terms and conditions as if committed or performed by the
      Contractor itself, its agents or
employees.

            

    

    

    
      	
              (3)

            	
              The
      Owner shall not be liable vis-à-vis any Subcontractor or supplier, or
      vis-à-vis their employees, for any claims arising directly or indirectly
      from the Contract. For such purpose, the Contractor undertakes to procure
      an express and written waiver of the rights conferred by Article 1597 of
      the Civil Code from each
Subcontractor.

            

    

    

    

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              16.

            	
              LIABILITY
      AND DAMAGES

            

    

    

    
      	
              (1)

            	
              The
      Parties shall have the obligation to provide indemnification for those
      damages caused to the other Party as a consequence of the breach of this
      Contract. The Owner’s approval of the projects, calculations, drawings or
      other technical documents prepared by the Contractor, or the conduct of
      inspections or Tests do not release the Contractor from such liability,
      and do not imply that such liability must be shared by the
      Owner.

            

    

    

    
      	
               
      

            	
              Further,
      the recommendations made by the Owner or its representatives during the
      performance of the Contract or on occasion of inspections or Tests shall
      not give rise to an exemption, mitigation or excuse for the Contractor’s
      performance under this Contract, except to the extent such recommendations
      or observations were implemented despite the Contractor’s
      objection.

            

    

    

    
      	
              (2)

            	
              The
      Contractor shall be liable vis-à-vis the Owner for any loss or physical
      damage to the equipment, materials or assets owned by the Owner or third
      parties that is caused by the Contractor through the execution of the
      relevant Solar Facility Provisional Acceptance Certificate, and thereafter
      only when the Contractor is within the Site performing the Work, repairs
      or similar activities and causes the relevant
  damage.

            

    

    

    If the
Contractor fails to hold the Owner or the third parties harmless from the
above-mentioned damages, the Owner shall be entitled to redress such damages,
deducting the costs of repair from any amounts pending payment to the
Contractor, or by enforcement of the Bonds issued pursuant to this
Contract.

    

    
      	
              (3)

            	
              By
      application of Article 1596 of the Civil Code, it is expressly agreed that
      the Contractor shall also be liable for damages caused by the persons or
      entities employed by the Contractor in the performance of the Work,
      whether as employees, technicians, subcontractors or otherwise, from whom
      the same diligence owed by the Contractor shall be
    required.

            

    

    

    
      	
              (4)

            	
              The
      Parties expressly agree that in no event will a Party be liable for the
      so-called consequential or indirect damages, including loss of profits and
      loss of output, loss of use or loss of any contract or other damages that
      are considered to be indirect, except for cases involving willful
      misconduct or gross negligence, and without prejudice to the Contractor's
      obligation to pay the penalties agreed upon under this
      Contract.

            

    

    

    
      	
              (5)

            	
              The
      Parties agree that any indemnity received by one of the Parties as
      beneficiary of any of the insurance taken out by them in connection with
      the Solar Park will be deducted from the respective claim for damages or,
      if such indemnity holds the Party in question harmless from the damages
      sustained, it shall bar such Party from claiming damages and require it to
      refund the excess, if any.  The Party causing the damages shall
      bear all deductibles, liability limits and any other deductions affecting
      the indemnities payable to the damaged Party by the insurance companies
      providing the insurance in accordance with the provisions
      hereof.

            

    

     

    

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              (6)

            	
              The
      maximum total liability of the Contractor hereunder shall not exceed, in
      the aggregate, an amount equal to *** (***%) percent of the Contract
      Price. The foregoing shall not affect to the Contractor’s obligation to
      make payments under Clause 14.1 in the event of the termination or partial
      termination of the Contract.

            

    

     

    
      	
              17.

            	
              OWNER
      FINANCING

            

    

    

    The
Contractor hereby acknowledges as fundamental to this Contract:

    

    
      	
               
      

            	
              (i)

            	
              the
      possibility that the Owner’s rights under this Contract may be fully or
      partially pledged or assigned as security, in one or successive instances,
      to the Financial Institutions.

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      possibility that “direct agreements” that provide the Financial
      Institutions with “step-in” rights will be executed in the form agreed to
      prior to the execution of this Contract and which are attached hereto as
      Annex
      9;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      possibility that the right to receive indemnification to which the Owner
      may be entitled and which arise under the insurance policies purchased in
      accordance with the terms of this Contract may be pledged or assigned as
      security to the Financial Institutions (and the essential nature of
      subscribing the insurance policies upon the terms of the report issued by
      the Insurance Advisor in accordance with Clause
  11);.

            

    

    

    
      	
               
      

            	
              (iii)

            	
              that
      the Financial Institutions and their advisors (including the Technical
      Advisor and the Insurance Advisor and any others) have the right to access
      the Site in order to inspect the performance of the work contemplated
      under this Contract, upon the terms contemplated in Clause
      6.2;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              the
      Technical Advisor’s right to observe all Capacity and Production Tests and
      the obligation to obtain its prior approval for the issuance of the Solar
      Park Provisional Acceptance Certificate, each Solar Facility Provisional
      Acceptance Certificate, the Final Acceptance Certificate and other actions
      for which the approval of the Technical Advisor is required in accordance
      with the form of Direct Agreement attached hereto as Annex
      9;

            

    

    

    
      	
               
      

            	
              (v)

            	
              the
      requirement to obtain the prior approval of the Financial Institutions for
      any change to the terms of this Contract upon the terms contemplated
      herein;

            

    

    

    

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              (vi)

            	
              the
      Contractor’s obligation to pay any amounts owed to the Owner under this
      Contract to the account, if any, indicated in writing by the Financial
      Institutions;

            

    

    

    All of
the foregoing is without prejudice to the other rights expressly granted in
favor of the financial Institutions pursuant to other clauses of this
Contract.

    

    
      	
              18.

            	
              CONFIDENTIALITY

            

    

    

    
      	
              (1)

            	
              The
      Parties agree that this Contract and the Annexes hereto, and any written
      or electronic information or documentation that any of the Parties
      furnishes to the other for the performance of this Contract (including,
      without limitation, technical documentation, plans, information,
      procedures, patents and licenses) are confidential. Therefore, the Parties
      undertake to keep the information confidential and to refrain from
      disclosing, providing to third parties or using such information unless
      such documentation and information (i) is known by the public without any
      breach of this confidentiality commitment, (ii) has been legally obtained
      from a third party, (iii) is requested by a judicial or governmental
      authority, or (iv) the delivery of such documentation and information is
      made in compliance with any legal obligations enforced upon the disclosing
      Party.

            

    

    

    
      	
              (2)

            	
              The
      Parties agree that the above shall not apply to any disclosure of
      information made by any of the Parties to other entities of their Group
      (within the meaning of Article 4 of Securities Market Law (Ley del Mercado de
      Valores) 24/1988 of July 28), regulatory, tax or governmental
      authorities, and their respective advisors and auditors, internal or
      external, in relation to the information requested by them for the
      development of the investigations, assessments and works carried out by
      them, provided that, in each and every one of such cases, the parties
      receiving the confidential information have assumed commitments of
      confidentiality vis-à-vis the disclosing party on terms similar to this
      one. In this case, such entities, authorities, advisors or auditors shall
      have free access to the books, files, documents and information held by
      the requested Party, and prior authorization is therefore not required
      from the other Parties to furnish information to such entities,
      authorities, advisors and/or auditors regarding this Contract and the
      Annexes hereto and any other information or written documentation relating
      hereto.

            

    

    

    
      	
              (3)

            	
              In
      particular, the Owner is authorized to transmit information regarding this
      Contract to the Owner and the Financial Institutions and to those
      investors with interests in the construction and commercial operation of
      the Solar Park who reasonably request information with respect to this
      Contract, provided that they have assumed vis-à-vis the provider of such
      information confidentiality undertakings upon terms substantially similar
      hereto.  Further, the Owner hereby authorizes the Contractor to
      provide such information to the Financial
  Institutions;

            

    

    

    

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              (4)

            	
              The
      confidentiality commitment must be observed until the passage of two (2)
      years from the date of execution of the Final Acceptance Certificate or
      any termination of the Contract, regardless of the cause
      thereof.

            

    

    

    
      	
              19.

            	
              NOTICES

            

    

    

    
      	
              (1)

            	
              All
      notices and communications between the Parties for the purposes of this
      Contract shall be made in writing, by certified mail, fax or courier
      service, to the following
addresses:

            

    

    

    To
the Contractor:

    

    SunPower Energy Systems España,
S.L.

    Paseo de
la Castellana, 86, 8o

    28046
Madrid, Spain

    Fax: +34
915644451

    Attn:
General Manager

    

    With a copy
to:

    SunPower Systems
SA

    42-44
Avenue Cardinal Mermillod 1227 Carouge - Switzerland

    Fax: +41
22 304 1405

    Attn.
Marco Antonio Northland

    

    To
the Owner:

    

    Naturener
Solar Tinajeros, S.L.U.

    Calle
Núñez de Balboa, 120, 7o, 28006, Madrid

    Fax: +34
91 562 3593

    Attn:
Juan Carlos Sirviente Rodrigo

    

    With a copy
to:

    Sylcom
Solar

    Laguna
del Marquesado 10 - N8

    28021
Madrid

    Attn:
Pablo Valera

    

    

    
      	
              (2)

            	
              The
      Parties may change the above addresses by written notice to each other
      given in the form and to the addresses mentioned
  above.

            

    

    

    
      	
              (3)

            	
              Notices
      shall be deemed received on the third (3rd) Business Day following the
      dispatch thereof when sent by courier service (unless there is evidence of
      earlier receipt) or the Business Day following the date on which there is
      evidence of the receipt thereof in the case of faxes and certified
      mail.

            

    

    

    

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              20

            	
              LAW
      AND JURISDICTION

            

    

    

    
      	
              (1)

            	
              This
      Contract and all issues that may arise between the Parties in relation
      hereto or in connection herewith shall be exclusively governed by
      generally applicable Spanish legislation, to which the Contractor and the
      Owner expressly submit.

            

    

    

    
      	
              (2)

            	
              The
      Parties agree that any litigation, dispute, issue or claim resulting from
      the performance or interpretation of this Contract, or directly or
      indirectly related hereto, shall be definitively resolved by arbitration
      at law before the Civil and Commercial Court of Arbitration (Corte Civil y Mercantil de
      Arbitraje (CIMA)) of Madrid in accordance with the Procedural
      Regulations  thereof.

            

    

    

    
      	
              (3)

            	
              The
      Arbitral Tribunal shall be composed of three (3) arbitrators appointed
      from CIMA’s list of arbitrators: one by the Contractor and the other by
      the Owner, and the two arbitrators so appointed shall appoint the third
      one, who shall act as chairman of the arbitral tribunal. Should the two
      first arbitrators fail to reach an agreement on the appointment of the
      third arbitrator within ten (10) Business Days following the date of
      acceptance of office by the second arbitrator, such arbitrator shall be
      appointed by CIMA.

            

    

    

    
      	
              (4)

            	
              The
      arbitration shall be conducted, and the award shall be rendered, in Madrid
      (Spain) and in the Spanish
language.

            

    

    

    
      	
              (5)

            	
              The
      Parties therefore expressly waive any other jurisdiction to which they may
      be entitled under Law, and commit to abide by and submit to the
      arbitration award that may be
rendered.

            

    

    

    
      	
              (6)

            	
              The
      Parties expressly waive any other jurisdiction that may apply and submit
      to the jurisdiction of the Courts and Tribunals of the city of Madrid for
      any litigation, dispute or claim that by mandate of law may not be
      resolved by, or submitted to, the arbitration provided under this Clause
      or, if applicable, for the formalization of the arbitration or the
      enforcement of the arbitral award.

            

    

    

    

    
       
[REMAINDER
OF PAGE INTENTIONALLY LEFT BLANK]

    

    

    

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    In
witness whereof, the Parties execute this Contract in two (2) counterparts, each
of them being an original and having the same effect, in the place and on the
date first set forth above.  It is expressly acknowledged that Mr.
Marco Antonio Northland, whose signature appears below, has hereby authorized
Ms. Nuria Casellas Cabrerizo, having a National Identity Document (DNI) number
43679456H, to review the pages hereof as evidence of the agreement of the
Contractor to the content of this document.

    

    

    
      	 
      	 
      	 
      
	
              NATURENER
      SOLAR TINAJEROS, S.L.U.

            	 
      	
              SUNPOWER
      ENERGY SYSTEMS SPAIN, S.L.U.

            

    

    

    

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     ANNEX 1

    ***

    

    

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ANNEX 2

    

    

    
       
SCOPE
OF WORK.  TECHNICAL SPECIFICATIONS

    

    

    ***

    

    

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    ANNEX
3

    

    
       
IMPLEMENTATION
SCHEDULE

    

    

    

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    ANNEX 4

    

    TEST
PROTOCOLS

    

    

    Protocol
for tests prior to the provisional acceptance of each Solar Facility and of the
Solar Park

    

    ***

    

    

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ANNEX 5

    

    

    
       
MINIMUM
INVENTORY AND SUPPLY OF SPARE PARTS

    

    

    The
Contractor must make available to the Owner, pursuant to the terms of
Clause 6.3, the following inventory of spare parts:

    

    

    
      	
              Part

            	 	
              Units
      per

              MW

            	 	 	
              Total

              quantity

            	 
	
              Mechanical
      part

            	 	 	 	 	 	 
	
              Drive
      bellows boot

            	 	 	0.4	 	 	 	4	 
	
              Ground
      braids, torque tube to pier

            	 	 	5	 	 	 	50	 
	
              Module
      mounting assemblies

            	 	 	5	 	 	 	50	 
	
              MC
      connectors

            	 	 	5	 	 	 	50	 
	
              Actuator
      (endless screw)

            	 	 	0.2	 	 	 	2	 
	
              Low
      voltage

            	 	 	 	 	 	 	 	 
	
              Solar
      panels

            	 	 	10	 	 	 	100	 
	
              Orientation
      motor

            	 	 	0.4	 	 	 	4	 
	
              GPS
      + PLC + clinometer

            	 	 	0.4	 	 	 	4	 
	
              SunPower
      controller (no housing)

            	 	 	0.4	 	 	 	4	 
	
              Inverter

            	 	 	0.2	 	 	 	2	 
	
              Communications
      card for the inverter

            	 	 	0.4	 	 	 	4	 
	
              Fuse
      set for the inverter

            	 	 	0.4	 	 	 	4	 
	
              Set
      of overvoltage protective devices for the inverter

            	 	 	0.4	 	 	 	4	 
	
              DC
      fuses

            	 	 	5	 	 	 	50	 
	
              Set
      of overvoltage protective devices for the junction box

            	 	 	0.4	 	 	 	4	 
	
              Junction
      box

            	 	 	0.4	 	 	 	4	 
	
              Fan
      unit

            	 	 	0.4	 	 	 	4	 
	
              Set
      of sensors for the weather station

            	 	 	0.2	 	 	 	2	 
	
              Communications

            	 	 	 	 	 	 	 	 
	
              MOXA
      cards

            	 	 	0.2	 	 	 	2	 
	
              Routers,
      switches, hubs, etc.

            	 	 	0.2	 	 	 	2	 
	
              Medium
      voltage

            	 	 	 	 	 	 	 	 
	
              MV
      fuses (if protective cabinets with fuses are installed)

            	 	 	0.4	 	 	 	4	 
	
              Protective
      relay

            	 	 	0.1	 	 	 	1	 
	
              160
      kVA transformer

            	 	 	0.1	 	 	 	1	 

    

    

    

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    ANNEX 6

    

    
       
MODULE
DEGRADATION GUARANTEE

    

    

    The
guarantee described in Section 6 of the Technical Specifications, as
incorporated into Annex 2.

    

    

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ANNEX
7

    

    

    
       
FORMS
OF SURETY BONDS

    

    

    Form of Performance
Bond

    

    [Name of the
Bank] (hereinafter, the “BANK”) hereby furnishes to
SUNPOWER ENERGY SYSTEMS, S.L.U.
with a registered address at [l], recorded in [l] (hereinafter the
“Guaranteed Party”) an
irrevocable, absolute, guarantee payable on demand to [l] (the “Beneficiary”), guaranteeing
the performance of all payment obligations assumed by the Guaranteed Party
vis-à-vis the Beneficiary (hereinafter, the “Guaranteed Obligations”) under
the Turnkey Construction Contract entered into by and between the Guaranteed
Party and the Beneficiary on even date herewith with respect to the construction
and start-up of a solar park located in [l] (hereinafter, the
“Contract”).

    

    The BANK
understands and acknowledges that the right to require the prior exhaustion of
the debtor’s assets, the right to require the prior exhaustion of remedies
against the debtor, and the benefit of division of the debt (beneficios de excusión, orden y
division), or any other rights, powers or exceptions that tend to prevent
or delay payment to the Beneficiary of the guaranteed amount shall not be
applicable to this Bond, waiving such benefits of the right to require the prior
exhaustion of the debtor’s assets, the right to require the prior exhaustion of
remedies against the debtor, and the benefit of division of the debt, and any
other rights, powers or exceptions to which the BANK may be entitled.
Additionally, the BANK shall attend to its payment obligation upon first demand
of the Beneficiary, even in the event of objection to payment by the Guaranteed
Party.

    

    The
Beneficiary may seek payment directly from the BANK to obtain performance of the
Guaranteed Obligations. The BANK shall make payment of the amounts claimed under
this Bond upon receipt of the timely requests and without requiring the prior
enforcement of any other guarantee furnished in relation to the Guarantee
Obligations or any other action whatsoever. The BANK shall pay the amounts due
on sight, without the need to seek any consent from the Guaranteed Party. The
BANK shall be liable vis-à-vis the Beneficiary for up to a maximum amount of
[l].

    

    This Bond
may be enforced on one or more occasions, up to the maximum amount set forth
above.

    

    Consequently,
the BANK shall pay to the Beneficiary any amount up to the guaranteed amount
within a period of five (5) Business Days from the date payment is requested by
the Beneficiary through a written request in which the Beneficiary confirms the
existence of a breach and the cause thereof according to the relevant provision
of the Contract, without it being necessary for the Beneficiary to submit any
additional documentation or evidence whatsoever.

    

    All sums
due from the BANK under this Bond shall be paid net of any indirect tax,
withholding or commission and without any type of offset or deduction. If the
BANK, in the performance of this Bond, is forced by any rule or governmental or
judicial authority to make any kind of offset, tax payment, withholding or
deduction from the payments to the Beneficiary, the BANK shall pay to the
Beneficiary any additional amount necessary to ensure that the net amount
received by the Beneficiary (free of indirect taxes, set-offs, deductions or
withholdings) is equal to the amount that the Beneficiary would have received if
such set-off, deduction or withholding from the BANK’s payment was not
required.

    

    

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    The
payment obligations assumed by the BANK under this Guarantee are of a commercial
nature and shall not be affected and shall be fully binding in spite of any
circumstances or changes that might affect the Contract, the Guaranteed Party or
the BANK. In particular, they shall remain in full force even if the Guaranteed
Party or the BANK is in bankruptcy, court administration or any other similar
situation related to their solvency. Furthermore, the Guaranteed Obligations
shall not be deemed satisfied and shall remain in full force and effect if the
Beneficiary, for any cause and at any time, is required to return the payments
made by the BANK under the Bond. Additionally, the BANK represents that the
scope of the guarantee granted under this Bond shall not be modified in any way
due to any action that the Beneficiary or the BANK may take with respect to
approval of any agreement that might result from the bankruptcy of the
Guaranteed Party, the BANK’s obligation remaining unchanged under the agreed
terms as if such action did not occur.

    

    This Bond
shall automatically expire on the date of execution of the Solar Park
Provisional Acceptance Certificate, and in any event, on January 31, 2009, on
which date the right to demand payment shall expire.

    

    The terms
of this Guarantee may not be unilaterally amended by the BANK, the written
consent of the Beneficiary being necessary for such purpose. The Guaranteed
Party may assign or pledge this Guarantee in favor of the financial institutions
providing the financing for the payments contemplated in the
Contracts.

    

    This
Guarantee is subject to Spanish Law and the jurisdiction of the Courts of the
city of Madrid, and for such purposes the address for notices is established in
Madrid at ________________.

    

    This
Guarantee has been recorded on even date herewith in the Special Registry of
Guarantees of the BANK under No. [l].

    

    In [l], on the [l] day of [l], [l].

    

    

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    Form of Guarantee
Bond

    

    [Name of the
Bank] (hereinafter, the “BANK”) hereby furnishes an
irrevocable, absolute, guarantee payable on demand to SUNPOWER ENERGY SYSTEMS,
S.L.U., with a registered address at [l], recorded in [l] (hereinafter, the
“Guaranteed Party”) in
favor of [l] (the
“Beneficiary”),
guaranteeing the performance of all payment obligations assumed by the
Guaranteed Party vis-à-vis the Beneficiary (hereinafter, the “Guaranteed Obligations”) under
the Turnkey Construction Contract entered into by and between the Guaranteed
Party and the Beneficiary on [l] with respect to the
construction and start-up of a solar park located in [l] (hereinafter, the
“Contract”).

    

    The BANK
understands and acknowledges that the right to require the prior exhaustion of
the debtor’s assets, the right to require the prior exhaustion of remedies
against the debtor, and the benefit of division of the debt (beneficios de excusión, orden y
division), or any other rights, powers or exceptions that tend to prevent
or delay payment to the Beneficiary of the guaranteed amount shall not be
applicable to this Bond, waiving such benefits of the right to require the prior
exhaustion of the debtor’s assets, the right to require the prior exhaustion of
remedies against the debtor, and the benefit of division of the debt and any
other rights, powers or exceptions to which the BANK may be entitled.
Additionally, the BANK shall attend to its payment obligation upon first demand
of the Beneficiary, even in the event of objection to payment by the Guaranteed
Party.

    

    The
Beneficiary may seek payment directly from the BANK to obtain performance of the
Guaranteed Obligations. The BANK shall make payment of the amounts claimed under
this Bond upon receipt of the timely requests and without requiring the prior
enforcement of any other guarantee furnished in relation to the Guaranteed
Obligations or any other action whatsoever. The BANK shall pay the amounts due
on sight, without the need to seek any consent from the Guaranteed Party. The
BANK shall be liable vis-à-vis the Beneficiary for up to a maximum amount of
[l].

    

    This
Guarantee may be enforced on one or more occasions, up to the maximum amount set
forth above.

    

    Consequently,
the BANK shall pay to the Beneficiary any amount up to the guaranteed amount
within a period of five (5) Business Days from the date payment is requested by
the Beneficiary through a written request in which the Beneficiary confirms the
existence of a breach and the cause thereof according to the relevant provision
of the Contract, without it being necessary for the Beneficiary to submit any
additional documentation or evidence whatsoever.

    

    All the
sums due from the BANK under this Guarantee shall be paid net of any indirect
tax, withholding or commission and without any type of set-off or deduction. If
the BANK, in the performance of this Guarantee, is forced by any rule or
governmental or judicial authority to make any kind of offset, tax payment,
withholding or deduction from the payments to the Beneficiary, the BANK shall
pay to the Beneficiary any additional amount necessary to ensure that the net
amount received by the Beneficiary (free of indirect taxes, set-offs, deductions
or withholding) is equal to the amount that the Beneficiary would have received
if such set-off, deduction or withholding from the BANK’s payment was not
required.

    

    

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    The
payment obligations assumed by the BANK under this Bond are of a commercial
nature and shall not be affected and shall be fully binding in spite of any
circumstances or changes that might affect the Contract, the Guaranteed Party,
or the BANK. In particular, they shall remain in full force even if the
Guaranteed Party or the BANK is in bankruptcy, court administration or any other
similar situation related to their solvency. Furthermore, the Guaranteed
Obligations shall not be deemed satisfied and shall remain in full force and
effect if the Beneficiary, for any cause and at any time, is required to return
the payments made by the BANK under the Bond. Additionally, the BANK represents
that the scope of the guarantee granted under this Bond shall not be modified in
any way due to any action that the Beneficiary or the BANK may take with respect
to approval of any agreement that might result from the bankruptcy of the
Guaranteed Party, the BANK’s obligation remaining unchanged under the agreed
terms as if such action did not occur.

    

    This
Guarantee shall automatically expire on the date of execution of the Solar Park
Final Acceptance Certificate, and in any event, on January 31, 2012, on which
date the right to demand payment shall expire.

    

    The terms
of this Guarantee may not be unilaterally amended by the BANK, the written
consent of the Beneficiary being necessary for such purpose. The Guaranteed
Party may assign or pledge this Guarantee in favor of the financial institutions
providing the financing for the payments contemplated in the
Contracts.

    

    This
Guarantee is subject to Spanish Law and the jurisdiction of the Courts of the
city of Madrid, and for such purposes the address for notices is established in
Madrid at ________________.

    

    This
Guarantee has been recorded on even date herewith in the Special Registry of
Guarantees of the BANK under No. [l].

    

    In [l], on the [l] day of [l], [l].

    

    

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ANNEX 8

    

    

    
       
AUTHORIZED
EQUIPMENT

    

    

    

    Modules:

    

    -
Powerlight

    -
SunPower

    -
Yingli

    -
Suntech

    -
Evergreen Solar

    -
Sanyo

    

    Trackers:

    

    -
Powertracker

    

    Inverters:

    

    -
Xantrex

    -
SMA

    -
Siemens

    -
Ingeteam

    

    Medium-Voltage
Electrical Power Lines

    

    
      	
              BICC
      GENERAL CABLE

            	
              (www.bicc.es)

            
	
              PRYSMIAN
      CABLES & SYSTEMS (PIRELLI CABLES Y SISTEMAS)

            	
              (www.es.prysmian.com)

            
	
              NEXANS

            	
              (www.nexans.com)

            
	
              SOLIDAL
      CONDUCTORES ELÉCTRICOS

            	
              (www.solidal.pt/)

            
	
              INCASA

            	
              (www.incasa-cables.com)

            
	
              ECN
      CABLE GROUP

            	
              (www.ecn.es)

            

    

    

    Transformer
and Sectioning Stations

    

    1.1
Cells

    

    
      1.1.1   
Encapsulated
cells:

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              MANUFACTURAS
      ELÉCTRICAS

            	
              (www.me-sa.es)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              VEI
      ELECTRIC SYSTEMS

            	
              (www.vei.it)

            

    

    

    

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              1.1.2

            	
              SF6-insulated
      cells and switchgear in metal
housings

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              VEI
      ELECTRIC SYSTEMS

            	
              (www.vei.it)

            

    

    

    
      	
              1.2

            	
              Power
      transformers

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              IMEFY

            	
              (www.imefy.com)

            
	
              ALKARGO

            	
              (www.iberapa.es)

            
	
              ABB
      TRAFO

            	
              (www.abb.com)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              INCOESA

            	
              (www.incoesa.com)

            
	
              OASA

            	
              (www.oasanet.com)

            
	
              CONSTRUCCIONES
      ELÉCTRICAS JARA

            	
              (www.trafojara.com)

            
	
              LAYBOX

            	
              (www.laybox.com)

            

    

    

    
      	
              1.3

            	
              Prefabricated
      housings

            

    

    

    
      	
              POSTES
      NERVIÓN

            	
              (www.postesnervion.es/)

            
	
              PREPHOR

            	
              (www.prephor.com)

            
	
              INAEL

            	
              (www.inael.com)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            

    

    

    Low-voltage
lines

    

    
      	
              BICC
      GENERAL CABLE

            	
              (www.bicc.es)

            
	
              PRYSMIAN
      CABLES & SYSTEMS (PIRELLI CABLES Y SISTEMAS)

            	
              (www.es.prysmian.com)

            
	
              NEXANS

            	
              (www.nexans.com)

            
	
              SOLIDAL
      CONDUCTORES ELÉCTRICOS

            	
              (www.solidal.pt)

            
	
              INCASA

            	
              (www.incasa-cables.com)

            
	
              ECN
      CABLE GROUP

            	
              (www.ecn.es)

            
	
              CONTECSA

            	
              (www.contecsa-spain.com)

            
	
              CABELTE

            	
              (www.cabelte.pt)

            
	
              MIGUELEZ

            	
              (www.miguelez.com)

            

    

    

    Low-voltage
panels

    

    
      	
              1.1

            	
              Rectifiers
      – battery chargers

            

    

    

    
      	
              ZIGOR

            	
              (www.zigor.com)

            
	
              SAFT
      POWER SYSTEMS IBERICA S.L.

            	
              (www.spsi.es)

            
	
              EMISA
      - EXIDE

            	
              (www.exide.com)

            
	
              ENERTRON

            	
              (www.enertron.net)

            

    

    

    

    ***
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FILED WITH THE COMMISSION***

    
      
         

      

      
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              1.2

            	
              Protective
      cabinets and A.S. auxiliary services
control

            

    

    

    
      	
              PROYECTOS
      MECA

            	
              (www.proymeca.com)

            
	
              CYMI

            	
              (www.cymi.es)

            
	
              ABB
      SISTEMAS INDUSTRIALES

            	
              (www.abb.com)

            
	
              CUADRELEC

            	
              (www.cuadrelec.com)

            

    

    PMC
Ingeniería

    

    
      	
              1.3

            	
              Exterior
      cabinets

            

    

    

    
      	
              PINAZO

            	
              (www.pinazo.com)

            
	
              ELDON

            	
              (www.eldon.es)

            
	
              HIMEL

            	
              (www.himel.com)

            
	
              RITTAL

            	
              (www.rittal.es)

            

    

    

    Electrical
protective devices

    

    
      	
              1.1

            	
              Indirect
      and direct protective devices for MV
cells

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              ORMAZÁBAL
      Y CÍA

            	
              (www.ormazabal.es)

            
	
              ABB
      T&D SYSTEMS

            	
              (www.abb.com)

            
	
              AREVA
      T&D

            	
              (www.areva-td.com)

            
	
              SIEMENS

            	
              (www.siemens.es)

            
	
              GENERAL
      ELECTRIC

            	
              (www.GEIndustrial.com)

            
	
              TEAM
      ARTECHE

            	
              (www.teamarteche.es)

            
	
              ZIV

            	
              (www.ziv.com)

            

    

    

    
      	
              1.2

            	
              Direct
      LV protective devices

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC (MERLIN GERIN)

            	
              (www.merlingerin.es)

            
	
              MOELLER

            	
              (www.moeller.es)

            
	
              ABB
      SISTEMAS INDUSTRIALES

            	
              (www.abb.com)

            
	
              GOULD

            	
              (www.gould.com)

            

    

    

    
      	
              1.3

            	
              Metal-oxide
      lightning rods

            

    

    

    
      	
              TYCO
      ELECTRONICS RAYCHEM GMBH

            	
              (www.energy.tycoelectronics.com)

            
	
              IBÉRICA
      DE APARELLAJES

            	
              (www.iberapa.es)

            
	
              INAEL

            	
              (www.inael.es)

            
	
              ABB

            	
              (www.abb.es)

            
	
              CELSA

            	
              (www.celsa.com)

            

    

    

    Supervisory
System

    

    
      	
              1.1

            	
              PLCs
      programmable logic controllers

            

    

    

    
      	
              SCHNEIDER
      ELECTRIC

            	
              (www.schneider-electric.com)

            
	
              BECKHOFF

            	
              (www.beckhoff.es)

            
	
              ROCKWELL
      AUTOMATION

            	
              (www.rockwellautomation.com)

            
	
              GENERAL
      ELECTRIC FANUC

            	
              (www.gefanuc.com)

            

    

    

    

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              1.2

            	
              Industrial
      communications

            

    

    

    
      	
              HIRSCHMANN

            	
              (www.hirschmann.com)

            
	
              MOXA

            	
              (www.moxa.com)

            

    

    

    
      	
              1.3

            	
              SCADA
      system control and data acquisition
platforms

            

    

    

    
      	
              WONDERWARE

            	
              (www.wonderware.com)

            
	
              GENERAL
      ELECTRIC

            	
              (www.gefanuc.com)

            

    

    

    
      	
              1.4

            	
              Optical
      fiber

            

    

    

    
      	
              NEXANS

            	
              (www.nexans.com)

            
	
              CORNING

            	
              (www.corning.com)

            
	
              OPTRAL

            	
              WWW.OPTRAL.COM

            

    

    

    

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ANNEX
9

    

    

    
       
FORM
OF DIRECT AGREEMENT

    

    
      

      

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     DIRECT
AGREEMENT

    

    between

    

     SUNPOWER
ENERGY SYSTEMS SPAIN, S.L.U

    

    as
Contractor

    

    and

    

    NATURENER
SOLAR TINAJEROS, S.L.U.

    

    as
Owner

    

    and

    

    CAJA
CASTILLA LA MANCHA

    

    as
Agent

    

    

     

    

    

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    Madrid,
on the [l] day of
November, 2007.

    

    APPEARING
PARTIES

    

    
      	
               
      

            	
              Party
      of the first part,

            

    

    

    
      	
              (A)

            	
              SUNPOWER ENERGY SYSTEMS SPAIN,
      S.L.U.  (the “Contractor”)

            

    

    

    Party of
the second part,

    

    
      	
              (B)

            	
              NATURENER SOLAR TINAJEROS,
      S.L.U.  (the “Owner”).

            

    

    

    Party of
the third part,

    

    
      	
              (C)

            	
              CAJA CASTILLA LA MANCHA
      (the “Agent”).

            

    

    

    All of
whom are hereinafter referred to collectively as the "Parties."

    

    The
persons appearing on behalf of each Party, as well as their powers of
representation and corresponding grants of authority are set forth on Annex 1 hereto.

    

    RECITALS

    

    
      	
              I.

            	
              The
      Owner and the Contractor have executed on even date
    herewith:

            

    

    

    
      	
               
      

            	
              (i)

            	
              a
      “turn-key” construction contract (the “Construction Contract”)
      for the construction and start-up of a solar park en Albacete, composed of
      one-hundred (100) solar facilities with a unit capacity at the panels
      between 115 y 122 kWp y 100 kW at the inverter (the “Solar
      Park”);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              a
      maintenance agreement (the “Maintenance Agreement”)
      for the performance by Contractor of the maintenance Work relating to the
      Solar Park.

            

    

    

    
      	
              II.

            	
              In
      order to finance, among other things, the payments that are the
      responsibility of the Owner under the Construction Contract, the Owner has
      entered into the following contracts, on even date herewith, registered as
      public instruments before the Madrid Notary Mr. [l];

            

    

    

    
      	
               
      

            	
              (i)

            	
              a
      credit agreement in the maximum amount of [l] euros
      (hereinafter, the “Credit
      Agreement” or the “Loan”) with the Agent
      and [l].

            

    

    

    
      	
               
      

            	
              (ii)

            	
              an
      interest rate hedge agreement (CMOF) and its corresponding Schedule with
      [l], to cover
      interest rate fluctuation risks relating to the Loan (hereinafter, the
      master agreement and its Schedule together with the confirmations to be
      executed in connection therewith, the “Interest Rate Hedge
      Agreement”).

            

    

    

    

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    [l], together with its
successors and assigns with respect to the Interest Rate Hedge Agreement, and
the institutions which at any given time make up the credit institutions under
the Credit Agreement are hereinafter collectively referred to as the “Financial Institutions.”

    

    
      	
              III.

            	
              To
      guarantee the Owner’s obligations under the Credit Agreement and the
      Interest Rate Hedge Agreement (hereinafter, collectively, the “Guaranteed Contracts”)
      the Owner has granted on even date herewith (among others) a pledge
      agreement, registered as a public instrument with the Madrid Notary Mr.
      [l], pursuant
      to which the rights under the Construction Contract and the Maintenance
      Agreement (among others) were pledged to the Financial Institutions (the
      “Pledge”).

            

    

    

    
      	
              IV.

            	
              In
      consideration of the premises, and as a fundamental condition to the
      execution of the Guaranteed Contracts by the Financial Institutions, the
      Parties have agreed to execute this Contract whereby the Contractor
      assumes certain obligations to the Financial Institutions with respect to
      the Construction Contract, the Maintenance Agreement and the Guaranteed
      Contracts, as follows.

            

    

    

    CLAUSES

    

    
      	
              1.

            	
              DEFINED
      TERMS

            

    

    

    Capitalized
terms used in this Agreement and not otherwise defined herein shall have the
respective meanings ascribed thereto in the Construction Contract.

    

    
      	
              2.

            	
              PLEDGE

            

    

    

    
      	
              (1)

            	
              The
      Contractor hereby pledges all rights to receive payment from the Owner
      under the Construction Contract and the Maintenance
    Agreement.

            

    

    

    
      	
              (2)

            	
              As
      a consequence of the foregoing, except in the event of receipt of a
      written notice from Agent that the Pledge has been cancelled, the
      Contractor agrees:

            

    

    

    
      	
               
      

            	
              (i)

            	
              not
      to convey or create any type of pledge, charge, lien or other security
      right over the Contractor’s rights to receive payments under the
      Construction Contract or the Maintenance Agreement, without the express
      prior written approval of the
Agent;

            

    

    

    
      	
               
      

            	
              (ii)

            	
              not
      to honor any notice or instruction from the Owner that contravenes or
      modifies the terms of the Pledge or of this
  Contract;

            

    

    

    

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              (iii)

            	
              to
      immediately notify the Agent of any breach by the Owner of its obligations
      under the Construction Contract or the Maintenance
    Agreement;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              to
      pay any amounts payable by the Contractor to the Owner under the
      Construction Contract or the Maintenance Agreement to the Owner’s account
      no. [l] (the
      “Principal
      Account”), or to such other separate account as the Agent and the
      Owner may jointly specify in writing. The Contractor acknowledges and
      agrees that a payment made to any other current account or made in any
      other manner shall not be considered a full discharge for the
      Contractor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              upon
      receipt of written notice from the Agent declaring the enforcement of the
      Pledge, to deposit or transfer all funds relating to the payment rights
      under the Construction Contract and/or the Maintenance Agreement in favor
      of the Agent to the account designated by the Agent in
      writing.

            

    

    

    
      	
              3.

            	
              NOTICE
      OF EARLY TERMINATION EVENTS. BREACH BY THE OWNER.
  

            

    

    

    
      	
              (1)

            	
              The
      Contractor agrees to provide notice to the Financial Institutions (through
      the Agent) of the occurrence of any event of early termination of the
      Construction Contract and/or the Maintenance Agreement, or of its own
      intention to terminate either of such Contracts, by sending to the Agent a
      copy of any notice sent to the Owner (which shall include, at a minimum,
      the proposed date of termination of the Construction Contract and/or the
      Maintenance Agreement –subject to the terms of subsection (2) below- and
      the Contractor’s stated basis for such
  termination).

            

    

    

    
      	
              (2)

            	
              The
      Contractor acknowledges agrees that it may not, under any circumstances,
      terminate the Construction Contract or the
      Maintenance  Agreement without first giving notice to the Agent
      as provided for in the above subsection, and that, during the period from
      the Agent’s receipt of such notice until fifteen (15) calendar days from
      the date on which the Agent received such notice, the Agent may (but is
      not so obligated), with the prior approval of the Financial Institutions
      in accordance with the agreed majority voting percentages agreed to among
      the Financial Institutions, take such measures as are necessary or
      advisable to cure or eliminate such event of early termination under the
      Construction Contract and/or the Maintenance
  Agreement.

            

    

    

    

    
      	
              4.

            	
              CHANGES
      TO THE CONSTRUCTION CONTRACT AND ACTIONS OF THE TECHNICAL ADVISOR
      

            

    

    

    4.1           Changes
and roles with respect to the Construction Contract 

    

    The
Contractor hereby acknowledges and agrees that:

    

    

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              (i)

            	
              it
      may not agree to any change to the Construction Contract or any Change
      Order or any other document that contains an agreement to make the changes
      contemplated by Clauses 2.4(4), 5.1(3) and 6.5(3) of the Construction
      Contract without receiving the prior approval of the Financial
      Institutions (the foregoing is without prejudice to the Contractor’s
      rights under such Clauses);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              except
      with respect to the assumed consent contemplated by Clause 4.3 of the
      Construction Contract, the approval of the Technical Advisor must be
      obtained in order for the Owner to approve a Payment Milestone
      contemplated by such Clause;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              the
      Technical Advisor must be present to observe the performance of the
      Performance Tests, the Overall Test, the Production Tests and the
      inspections required for execution of the Solar Facilities Provisional
      Acceptance Certificates, the Solar Park Provisional Acceptance
      Certificate, and the Final Acceptance Certificate, in accordance with the
      notice periods set forth in Clauses 5.2 (1), 8.4(2) and 9(1) of the
      Construction Contract. The periods provided for in such Clauses may not
      begin to run if the Technical Advisor has not been invited to observe
      within the notice periods provided in such Clauses.  Results of
      tests and inspections referred to in this subsection that were obtained
      prior to the expiration of such periods and without the presence of the
      Technical Advisor shall be invalid. However, the Technical Advisor’s
      failure to attend despite having been duly invited in the manner and
      within the notice periods provided for in this subsection shall not delay
      the periods provided for in the Construction Contract for such tests and
      inspections, nor shall it invalidate the results of the
    same;

            

    

    

    
      	
               
      

            	
              (iv)

            	
              except
      as provided for in Clause 5.2(4) of the Construction Contract, the
      execution of the Solar Facilities Provisional Acceptance Certificates, the
      Solar Park Provisional Acceptance Certificate, and the Final Acceptance
      Certificate must be accompanied by the approval of the Technical
      Advisor;

            

    

    

    
      	
               
      

            	
              (v)

            	
              the
      Technical Advisor shall have the power the inspect the Site on the same
      terms, and subject to the same restrictions, to which the Owner is
      entitled under Clause 6.2 of the Construction
  Contract;

            

    

    

    
      	
               
      

            	
              (vi)

            	
              the
      Technical Advisor must approve quality controls for the solar modules and
      has the authority to inspect such quality controls in order to confirm its
      approval; and

            

    

    

    
      	
               
      

            	
              (vii)

            	
              an
      order to suspend the Work by the Owner pursuant to Clause 13.1 of the
      Construction Contract shall not be valid unless it has been countersigned
      by the Agent on behalf of the Financial
  Institutions.

            

    

    

    

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    4.2           Changes
and Actions Regarding the Maintenance Agreement

    

    The
Contractor hereby acknowledges and agrees that:

    

    
      	
               
      

            	
              (i)

            	
              it
      may not agree to any change to the Maintenance Agreement or any Change
      Order or any other document that contains an agreement to make the changes
      contemplated by Clause 2.4 of the Maintenance Agreement without first
      receiving the prior approval of the Financial Institutions (the foregoing
      is without prejudice to the Contractor’s rights under such Clause
      2.4);

            

    

    

    
      	
               
      

            	
              (ii)

            	
              the
      Technical Advisor must receive the data and registrations at least fifteen
      (15) calendar days in advance to make the availability calculations
      referred to in Clause 7 of the Maintenance
  Agreement;

            

    

    

    
      	
               
      

            	
              (iii)

            	
              the
      Technical Advisor shall have the authority to inspect the Site on the same
      terms, and subject to the same restrictions, to which the Owner is
      entitled under Clause 4(ii) of the Maintenance
  Agreement.

            

    

    

    
      	
              5.

            	
              CUMULATIVE
      NATURE OF THE OBLIGATIONS CONTEMPLATED BY THIS
  AGREEMENT

            

    

    

    The
rights of the Financial Institutions contemplated in this Agreement are
cumulative with the rights of the Financial Institutions under the Construction
Contract or the Maintenance Agreement. Therefore, the terms of this Agreement
shall not affect the obligation of the Contractor and the Owner to request the
consent of the Financial Institutions for such acts that, in accordance with the
terms of the Construction Contract and/or the Maintenance Agreement, require the
prior consent of the Financial Institutions.

    

    
      	
              6.

            	
              ASSIGNMENTS
      

            

    

    

    
      	
              6.1

            	
              Assignment
      by the Financial Institutions

            

    

    

    
      	
               
      

            	
              This
      Contract is delivered for the benefit of the Financial Institutions, and
      therefore inures to the benefit of their successors or assigns permitted
      under the Guaranteed Contracts. Therefore, in the event of an assignment,
      in whole or in part, of the interest of a Financial Institution under the
      Guaranteed Contracts, or the replacement of the Agent under the terms of
      the Credit Agreement, all references made in this public document to the
      Financial Institutions and the Agent shall be understood to include
      reference to their respective successors or assigns. An assignee must
      present its position to the Contractor and the Owner, upon request, by
      delivery of a copy of the document through which such assignment or
      replacement of the Agent is made. However, the Agent must inform the
      Contractor of its replacement with sufficient advance notice to permit the
      Contractor to comply with its obligations under the Construction Contract,
      the Maintenance Agreement and this
Agreement.

            

    

    

    

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              6.1

            	
              Assignment
      by the Contractor

            

    

    

    The Contractor may not assign its rights
or obligations under the Construction Contract or the Maintenance Agreement
except in strict compliance with the terms of Clauses 15.1 and 11.1 of the
Construction Contract and the Maintenance Agreement,
respectively.  However, in the event of an assignment by the
Contractor to one of the companies of its Group, under the terms permitted in
such Clauses, the Contractor agrees that it shall not effect such assignment
unless the assignee concurrently agrees to adhere to the entirety of the
Contractor’s responsibilities and agreements under this Agreement.

    

    
      	
              7.

            	
              NOTICES
      

            

    

    

    
      	
              (1)

            	
              Except
      as otherwise expressly provided for, all notices and communications
      between the Parties for the purposes of this Agreement shall be made in
      writing, by certified mail, telegram with confirmed receipt, or for urgent
      matters, by fax with a confirmation letter to be sent within the following
      five (5) calendar days.

            

    

    

    
      	
              (2)

            	
              All
      notices, requirements or other communications to the Financial
      Institutions must be delivered to the Agent (notice to the Financial
      Institutions shall be considered effective upon receipt by the
      Agent).

            

    

    

    
      	
              (3)

            	
              The
      Parties designate the following addresses for notice, communications and
      routine matters:

            

    

    

    
      	
               
      

            	
              The
      Agent:

            

    

    
      [l]

    

    
      Fax:   +34
[l]

    

    Attention:
Mr. [l]

    

    The
Contractor:

    SunPower Energy Systems España,
S.L.

    Paseo de
la Castellana, 86, 8o

    28046
Madrid, España

    Fax: +34
915644451

    Attention:
General Manager

    

    With a
copy to:

    SunPower Systems
SA

    42-44
Avenue Cardinal Mermillod 1227 Carouge - Switzerland

    Fax: +41
22 304 1405

    Attention:
Mr. Marco Antonio Northland

    

    

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              The
      Owner:

            

    

    Naturener Solar Tinajeros,
S.L.U.

    Calle
Núñez de Balboa 120, 7o, 28006 Madrid

    Fax: +34
91 562 35 93

    Attention:
Mr. Juan Carlos Sirviente Rodrigo

    

    
      	
              (4)

            	
              Any
      changes to the above addresses must be communicated to the other Parties
      by certified mail, and shall only take effect as of the date that the
      other Party receives such notice.

            

    

    

    
      	
              8.

            	
              LAW
      AND JURISDICTION

            

    

    

    This Contract shall be exclusively
governed by generally applicable Spanish legislation.

    

    The
Parties expressly waive any other jurisdiction to which they may be entitled
and, without prejudice to applicable law, hereby irrevocably submit to the
jurisdiction of the Courts and Tribunals of the city of Madrid.

    

    
      	
              9.

            	
              TERM

            

    

    

    This
Contract shall remain in full force and effect throughout the term of the
Construction Contract and the Maintenance Agreement or until the payment in full
of the obligations assumed by the Owner under the Guaranteed Contracts. Upon
payment in full of said amounts, the Owner may request that the Agent issue a
joint notice to the Contractor confirming payment in full of all obligations
assumed by the Owner under the Guaranteed Contracts.

    

    
      	
              10.

            	
              TAXES
      AND EXPENSES 

            

    

    

    All fees,
taxes and any other costs and expenses arising from the preparation and delivery
of this Contract, including the reasonable fees and expenses of legal counsel
shall be borne by the Owner.

    

    

    In
witness whereof, the Parties execute this Contract in three (3) counterparts,
each of them being an original and having the same effect, in the place and on
the date first set forth above.

    

    

    
      	 
      	 
      	 
      
	
              NATURENER
      SOLAR TINAJEROS, S.L.U.

            	 
      	
              SUNPOWER
      ENERGY SYSTEMS SPAIN, S.L.U.

            
	 
      	 
      	 
      
	 
      	 
      	 
      
	 
      	 
      	 
      
	
              CAJA
      CASTILLA LA MANCHA

            	 
      	 
      

    

    

    

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ANNEX 10

    

    
       
MINIMUM
P.R. AND PENALTIES FOR NON-COMPLIANCE WITH THE PRODUCTION
GUARANTEE

    

    

    ***

    

    
      	
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    ANNEX 11

    GUARANTEED
VALUES

    ***

     

    

    ***

    

    

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    ANNEX 12

    

    
       
FORM
OF LETTER TO BE SIGNED BY THE AGENT

    

    

    

    SunPower
Energy Systems Spain, S.L.U.

    Paseo de
la Castellana, 86, 8o [8th floor]

    28046
Madrid, Spain

    Fax: +34
915644451

    Attn.:  General
Manager

    

    

     [l] [l], 2007

    

    

    Gentlemen:

    

    Re:
Commercial loan agreement (the “Loan Agreement”) signed by [l] and [l] on [l], converted into a
public instrument in the presence of Mr. [l], a notary of Madrid,
and recorded in his notarial protocol under No. [l], for the partial
financing of (among other things) the payments owed by [l] pursuant to a
“turnkey” construction contract signed by such entity with SunPower Energy
Systems Spain, S.L.U. on [l] (the “Construction
Contract”)

    

    We hereby
confirm to you that, pursuant to the Loan Agreement, [l] has obtained from
[l] a loan in the
total amount of [l]
euros, of which sum [l] euros correspond to
Tranche A of the Loan Agreement, and [l] euros correspond to
Tranche B of the Loan Agreement, with the purpose of such Tranches being to
finance, among other things, the Contract Price and the associated VAT to be
paid by [l]
pursuant to the Construction Contract.

    

    Cordially,

    

     

    [l]

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    
      
         

      

      
        78

        
          

        

      

      
         

      

    

    
       
ANNEX 13

    

    

    
       
SITE
PLAN

    

    

    

    ***
CONFIDENTIAL MATERIAL REDACTED AND

    SEPARATELY
FILED WITH THE COMMISSION***

    
 

    79

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