Dow, Acciona, SENER and TSK Bring Global CSP Leadership to Industry´s Developing Markets

Madrid - January 30, 2014

Executives from Acciona, Dow, SENER and TSK met in Madrid this week to celebrate the companies’ strong relationship and commitment in emerging Concentrated Solar Power (CSP) markets.

“As new regions begin to embrace and invest in CSP projects, they are relying on proven technological leaders to create world-class power generation facilities. As a leading supplier of heat transfer fluids for CSP, we are ready to grow with the solar power industry”, said Juan Antonio Merino, Dow Commercial Vice President for Europe, Middle East and Africa. “Dow is a company with operations worldwide and is uniquely positioned to serve our partners in all projects regardless of where they are executed”, added Merino.

Dow announced that it will supply DOWTHERM™ A Heat Transfer Fluid to two new CSP plants under construction, Noor 1 in Morocco and Bokpoort in South Africa. A consortium composed of Spanish companies Acciona, SENER and TSK were awarded the Engineering Procurement and Construction contract for the Acwa Power-owned plants.

Today, more than 35 CSP plants filled with DOWTHERM™ A provide enough electrical generation capacity to meet the needs of more than 1 million homes at a savings of close to 4 million metric tons of CO2 emissions per year.

“The award of Dow heat transfer fluid to the Noor 1 and Bokpoort projects bears witness to Dow, SENER, TSK and Acciona’s track record and to their willingness to work together in the quest for efficiency and excellence,” declared Carlos López, General Director of ACCIONA Engineering.

“Working with suppliers like Dow, with a capacity to provide a worldwide service, is fundamental for turnkey contracts in solar-thermal plants where SENER has been involved in more than 25 such projects, supplying proprietary technology such as SENERtrough® parabolic troughs,” stated Ernesto Álvarez, Power and Process Business Development Manager of SENER. “Technology from SENER, Acciona and TSK, as well as Dow’s heat transfer fluid, will ensure the efficiency required by these two plants”.

“In TSK we have always given top priority to values such as commitment, reliability and quality when choosing our main suppliers,” affirmed Oscar Rodríguez Acinas, Purchasing Director of the Energy and Industrial Plants Division of TSK. “We have maintained a close relationship with Dow since we began working in the solar thermal world and consider Dow to be a direct collaborator in our CSP projects.”

“With advanced technology providing the high-purity transfer fluid of the market, world-scale production capacity and tailored supply chain and logistics capabilities, Dow is devoted to be the best partner to support CSP customers’ success and the industry’s growth at long-term”, acknowledged Carolina Barrios, Marketing Manager for Dow Heat Transfer Fluids.

Noor 1 is the first CSP project of this kind in Morocco and the initial plant of 6 from the Moroccan solar plans defined by the Moroccan Agency for Solar Energy (Masen). The 160 megawatt plant will have 3 hours of storage. The Noor 1 complex is set to develop into a 500 megawatt solar park, incorporating several utility-scale solar power plants using various solar technologies.

Bokpoort will have a net generation capacity of 50 megawatt with 9 hours of thermal energy storage and is part of the second round of the South African Renewable Energy Independent Power Producer Procurement Program. Once completed, it will be the CSP power plant with the longest amount of thermal storage in the world.

Construction on Noor 1 and Bokpoort have begun, with both plants planned to go live in the second half of 2015.

How CSP Works

CSP uses parabolic mirrors to reflect and magnify heat from the sun onto a closed circulating loop containing DOWTHERM™ A heat transfer fluid. The fluid collects the heat energy and transports it to a power station where it is used to produce steam, which drives turbines to generate electricity. Solar power technology like CSP offers many advantages in regions that require reliable new sources of energy. The technology helps diversify energy supply, is capable of producing power during periods of peak demand, and reduces dependence on fossil fuels. When used instead of fossil fuel generation plants, CSP facilities offer improved air quality and can help many nations to address off-set goals for carbon emission produced by existing fossil fuel power plants. Unlike photovoltaic solar power and wind energy technologies, CSP plants can operate in conjunction with cost-effective thermal storage technology to deliver energy on-demand, making CSP a highly flexible source of renewable energy.

About Dow

Dow (NYSE: DOW) combines the power of science and technology to passionately innovate what is essential to human progress. The Company is driving innovations that extract value from the intersection of chemical, physical and biological sciences to help address many of the world's most challenging problems such as the need for clean water, clean energy generation and conservation, and increasing agricultural productivity. Dow's integrated, market-driven, industry-leading portfolio of specialty chemical, advanced materials, agrosciences and plastics businesses delivers a broad range of technology-based products and solutions to customers in approximately 180 countries and in high growth sectors such as packaging, electronics, water, coatings and agriculture. In 2013, Dow had annual sales of more than $57 billion and employed approximately 53,000 people worldwide. The Company's more than 6,000 products are manufactured at 201 sites in 36 countries across the globe. References to "Dow" or the "Company" mean The Dow Chemical Company and its consolidated subsidiaries unless otherwise expressly noted. More information about Dow can be found at www.dow.com.

For Editorial Information:

Claudia Granadeiro Tagliavini
The Dow Chemical Company
publicaffairsiberica@dow.com

Raquel Capellas/Víctor López
Oficina de Prensa Dow Chemical
+34 91 745 86 00
rcapellas@webershadnwick.com