Valuation reflects a DCF of net cash flows across the remaining ~18 years of operational life (5 contracted years + 13 post-PPA years):
| Unlevered Cost of Capital (Discount Rate) |
Implied Enterprise Value (US$ M) |
Implied Multiple on Contracted Cash Flow |
Implied EV / Installed MW |
| 7.5% (Low Risk / BRL Hedged) |
$44.6M |
8.48x |
$1.47M / MW |
| 8.5% (Core Infrastructure Hurdle) |
$41.1M |
7.81x |
$1.36M / MW |
| 9.5% (Emerging Market Benchmark) |
$38.1M |
7.24x |
$1.26M / MW |
| 10.5% (Conservative Equity Return) |
$35.4M |
6.73x |
$1.17M / MW |
This hypothetical financial model and accompanying presentation (the "Document") are provided solely for preliminary illustrative, structural, and evaluation purposes. This Document does not constitute, nor shall it be deemed to constitute, an offer to sell, a solicitation of an offer to buy, an underwriting commitment, or an investment recommendation regarding the shares, quotas, operating concessions, physical assets, or special purpose vehicles (SPVs) of the 30.24 MW wind portfolio or any affiliated entities.
Hypothetical Projections & Forward-Looking Risks
All financial figures, capacity factors, production levels (96.0 GWh/yr), generation estimates, operating cost assumptions, merchant energy pricing forecasts, tax regimes, and post-PPA yields (~US$4.25M/yr) are forward-looking and based on indicative assumptions. These statements involve substantial known and unknown risks, uncertainties, and contingencies, including but not limited to:
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Wind resource variability (P50/P90 generation deviations) and climate patterns in Northeast Brazil;
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Grid curtailment, transmission constraints, and system operator dispatch orders (ONS);
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Fluctuations in the Brazilian Free Energy Market (Ambiente de Contratação Livre — ACL) and Settlement Price for Differences (PLD);
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Foreign exchange volatility between the Brazilian Real (BRL) and the United States Dollar (USD);
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Inflationary adjustments, escalation of operations and maintenance (O&M) contracts, and replacement part supply chains;
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Regulatory, statutory, concession, and fiscal changes by ANEEL, CCEE, or Brazilian federal/state revenue authorities.
Actual cash flows and terminal asset values may differ materially from those modeled herein.
No Representations, Warranties, or Reliance
No representation, warranty, or undertaking—express or implied—is made by the asset owners, operators, financial modelers, advisors, or their respective directors, officers, or agents regarding the accuracy, completeness, authenticity, or reasonableness of the data, technical parameters, or projections set forth in this Document. Recipient expressly agrees that no commercial reliance may be placed on this Document.
Absolute Exclusion of Liability
To the fullest extent permitted by applicable law, the authors, asset owners, advisors, affiliates, and representatives expressly disclaim all liability (whether in contract, tort, strict liability, negligence, or otherwise) for any direct, indirect, incidental, consequential, special, punitive, or reliance damages, including lost profits, loss of business opportunity, or transaction expenses incurred by the recipient or any third party arising out of or in connection with the use of, or reliance upon, any information, calculations, assumptions, or omissions contained in this Document.
Requirement for Independent Due Diligence
Receipt of this Document does not substitute for a rigorous, independent investigation. Qualified prospective purchasers must conduct their own independent legal, tax, hydrogeological, wind resource (anemometric review), technical (turbine condition assessment), regulatory, and accounting due diligence with authorized external counsel and technical advisors prior to entering into any transaction or executing binding documentation. All technical, operational, and commercial data rooms will remain subject to the terms of an executed Non-Disclosure Agreement (NDA).