Enclosure C updating June 2006

SURETY POLICY
The Insurance Society, head office at . (hereafter referred to as the Society), authorised to deal in Insurance bonds by Ministerial Decree N. dated .. (G.U. N. .. dated ..) or by Isvap by legislative measure .. (G.U. N.. dated ) in the persons of the legal representatives and signatories, Messers , hereby acts as surety, provided the following conditions are met by the Company .. (hereafter referred to as the Company), in favour of Enel Green Power S.p.A. (hereafter referred to as Enel), in the amount of , corresponding to the sum of the guarantees requested for carrying out the supply/work/service contract N. . dated .., relating to .... . This bond is irrevocable, effective regardless of whether the premium has been paid by the Company and guarantees: completion of all contractual obligations assumed by the Company, which the Society is fully aware of and accepts in their entirety; full payment of wages and contributions due to the personnel involved in carrying out the work (1); any additional expenditures incurred by Enel during the work, over and above the final settlement. This Bond is valid until: 1. the .. (..) month following the date on which the last part of the goods was delivered and accepted, as confirmed in writing by Enel. 1. the definitive acceptance date. This bond will remain valid until the () month after the above date, with the sole purpose of guaranteeing full payment of wages and contributions due to the personnel involved in carrying out the work by the Company. 1. the date of acceptance of activities / the completion of activities the definitive acceptance date . This bond will remain valid until the ( ) month after the above date, with the sole purpose of guaranteeing full payment of wages and contributions due to the personnel involved in carrying out the work by the Company While this bond remains valid, the Company forgoes the right to object to the expiry period of the terms in accordance with Art. 1957 c.c. Once the validity period has expired, the bond shall no longer be binding and shall be considered to have expired in its entirety, unless Enel informs the Society, before the expiry date indicated above, of any disputes arising from failure to fulfil its obligations to the personnel involved in carrying out the work on the part of the Company. In this case, the validity period of the bond shall be extended automatically until all claims arising from the failure to fulfil its obligations on the part of the Company have been resolved. This bond may only be terminated before the above mentioned expiry date upon presentation to the Society of the original copy of the policy, or a specific waiver prepared and confirmed in writing by Enel. The Society undertakes to pay the amounts requested by Enel, upon first request, without conferring on the Society the benefit of discussion on the principal debtor in accordance with Art. 1944 c.c.

(1) With the exception of supply-only contracts

Enclosure C updating June 2006 In particular, the Society shall pay the amounts due in the established currency on the 15th (fifteenth) day after receiving the request, which Enel shall send by recorded delivery, with acknowledgement of receipt, as well as a copy for the Company for its records, without making exception for any amounts that may be owed by the Company and expressly foregoing any intention of contesting them. This document does not affect any legal rights should the amounts paid be partially or entirely not due. The Society shall be subrogated to Enel, within the limits of the amounts paid, in all rights, motives and actions against the Company, its heirs and successors, joint liable bodies or assignees. To this end, Enel shall facilitate credit recovery actions by providing the Society with all information in its possession regarding the guaranteed contract. Enel shall not be bound by any general conditions that differ from the specific terms of this bond. This bond shall be considered effective and entirely valid, even if not undersigned Enel. All communications to the Society, regarding this policy, must be sent by recorded delivery, with acknowledgement of receipt, to the Society at the Head Office as specified on the first page of this policy. All disputes between Enel and the Society shall be resolved exclusively by the Court of Rome.

Enclosure C updating June 2006

SURETY BOND
The Bank, head office at . (hereafter referred to as the Bank) in the persons of the legal representatives and signatories , Messers , hereby acts as surety, provided the following conditions are met by the Company .. (hereafter referred to as the Company), in favour of Enel Green Power S.p.A. (hereafter referred to as Enel), in the amount of , corresponding to the sum of the guarantees requested for carrying out the supply/work/service contract N. . dated .., relating to .... . This bond is irrevocable and guarantees: completion of all contractual obligations assumed by the Company, which the Bank is fully aware of and accepts in their entirety; full payment of wages and contributions due to the personnel involved in carrying out the work (1); any additional expenditures incurred by Enel during the work, over and above the final settlement. This Bond is valid until: 1. the .. (.. ) month following the date on which the last part of the goods was delivered and accepted, as confirmed in writing by Enel. 1. the definitive acceptance date. This bond will remain valid until the ( ) month after the above date, with the sole purpose of guaranteeing full payment of wages and contributions due to the personnel involved in carrying out the work by the Company. 1. the date of acceptance of activities / the completion of activities the definitive acceptance date . This bond will remain valid until the ( ) month after the above date, with the sole purpose of guaranteeing full payment of wages and contributions due to the personnel involved in carrying out the work by the Company. While this bond remains valid, the Company forgoes the right to object to the expiry period of the terms in accordance with Art. 1957 c.c. Once the validity period has expired, the bond shall no longer be binding and shall be considered to have expired in its entirety, unless Enel informs the Bank, before the expiry date indicated above, of any disputes arising from failure to fulfil its obligations to the personnel involved in carrying out the work on the part of the Company. In this case, the validity period of the bond shall be extended automatically until all claims arising from the failure to fulfil its obligations on the part of the Company have been resolved. This bond may only be terminated before the above mentioned expiry date upon presentation to the Bank of the original copy of the surety bond, or a specific waiver prepared and confirmed in writing by Enel. The Bank undertakes to pay the amounts requested by Enel, upon first request, without conferring on the Bank the benefit of discussion on the principal debtor in accordance with Art. 1944 c.c. In particular, the Bank shall pay the amounts due in the established currency on the 15th (fifteenth) day after receiving the request, which Enel shall send by recorded delivery, with acknowledgement of receipt, as well as a copy for the Company for its records, without making

(1) With the exception of supply-only contracts

Enclosure C updating June 2006 exception for any amounts that may be owed by the Company and expressly foregoing any intention of contesting them. This document does not affect any legal rights should the amounts paid be partially or entirely not due. The Bank shall be subrogated to Enel, within the limits of the amounts paid, in all rights, motives and actions against the Company, its heirs and successors, joint liable bodies or assignees. To this end, Enel shall facilitate credit recovery actions by providing the Bank with all information in its possession regarding the guaranteed contract. Enel shall not be bound by any general conditions that differ from the specific terms of this bond. This bond shall be considered effective and entirely valid, even if not undersigned Enel. All communications to the Bank, regarding this surety bond, must be sent by recorded delivery, with acknowledgement of receipt, to the Bank at the head office as specified on the first page of this surety bond. All disputes between Enel and the Bank shall be resolved exclusively by the Court of Rome.