ContourGlobal Enters Joint Development Agreement With Guascor Solar and Places First 6 MW Solar Facility Into Operation

Solar facility in Sabaudia, Italy is ContourGlobal's sixth operating solar project of 2010

MILAN, December 21, 2010 - ContourGlobal and Guascor Solar today jointly announced that they have
signed an agreement to co-develop 30 MW of photovoltaic projects in Italy and
that their first facility, a 6 MW photovoltaic plant in Sabaudia, has been
placed into service. Under the agreement, ContourGlobal and Guascor Solar
will co-develop the solar facilities to be owned and operated by
ContourGlobal and constructed by Guascor Solar. In addition to the facility
in Sabaudia, Italy, the next project in the pipeline are 8.5 MW in Sicily
that is expected to break ground in early 2011.

Joseph C. Brandt, ContourGlobal's President and Chief Executive Officer,
said: "We are very excited to enter into this joint development agreement
with Guascor Solar and place into service this substantial project. Our teams
complement one another very well and we are looking forward to realizing
together our substantial pipeline in 2011."

Jon Azua, Vice President and Chief Executive Officer of Grupo Guascor,
said: "This is an extraordinary opportunity for both groups' cooperation and
development. We expect this first experience in solar photovoltaic energy to
be a promising starting point for future collaborations involving the
complete the portfolio in renewable energy and power system Grupo Guascor can
offer."

About ContourGlobal

ContourGlobal is a power and energy operating and development company
headquartered in New York with approximately 900 employees worldwide and over
1,300 MW of capacity in operation, under construction, or in active
development in a diverse set of markets including the United States, the
European Union, Brazil, Colombia, Togo, Rwanda, Nigeria and Ukraine. The
Company develops and operates electric and combined heat and power businesses
around the world for both governments and multinational companies.
ContourGlobal focuses both upon high-growth, under-served markets and
innovative niches within developed markets - such as renewable energy and
combined heat and power. For more information please visit ContourGlobal on
the Web at www.contourglobal.com/.

About Guascor

Grupo Guascor is an industrial corporation specialized in customized
energy solutions based on renewable energies and power systems with a
significant know how in energy resources. Grupo Guascor has a 1.300 employees
spread out all around the globe and has installed more than 1,500 MWs. Grupo
Guascor is a company that is able to give a complete answer to the rapidly
changing renewable energy world, ranging a broad spectrum of activities
within the value chain and providing global solutions (solar energy, wind
energy, bioenergy, hydro) and meeting demand for energy technology and power
system integration. For more information please visit Grupo Guascor on the
Web at www.guascor.com/.

Grupo Guascor, Mikel Izaguirre, Deputy General Manager GPS, +34-647-308-109; ContourGlobal, Ernesto Gonzalez, Executive Vice President, Business Development, +39-02-72546-229