Disclaimer and Legal Notice
Confidentiality & Non-Disclosure
This document, along with any accompanying presentations, financial analyses, appendices, or communications (collectively, the “Information”), is confidential and has been prepared strictly for information and evaluation purposes. The Information is intended solely for the recipient and may not be copied, reproduced, distributed, summarized, or passed on to any other person, in whole or in part, without prior written consent. By accepting this material, the recipient agrees to keep all matters contained herein confidential.
No Offer or Commitment
The Information does not constitute, nor shall it be construed as, an offer to sell, a solicitation of an offer to purchase, or a recommendation to acquire any securities, shares in special purpose vehicles (SPVs), project assets, or financial instruments. Nothing contained herein shall form the basis of, or be relied on in connection with, any contract, binding transaction, or investment commitment. Any binding agreement shall be governed solely by definitive transaction documentation negotiated, agreed, and executed between the relevant parties.
Nature of Financial Projections & Forward-Looking Statements
All pro-forma figures, operational benchmarks, estimates, market revenue forecasts (including capacity remuneration, arbitrage, and ancillary services), operating expense reserves, and internal rate of return (IRR) projections contained herein represent forward-looking statements. These projections are indicative only and are based on subjective assumptions, technical estimates, prevailing regulatory environments, and market market conditions that are inherently uncertain. Actual results, operational performance, and financial returns may differ materially from those expressed or implied due to numerous factors, including but not limited to:
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Fluctuations in electricity market pricing, day-ahead spreads, and ancillary services remuneration;
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Changes in national or European energy policies, procurement auctions (e.g., MACSE, Capacity Market), and grid tariff regulations;
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Permitting delays, environmental conditions, or modifications imposed during the Single Authorization (Autorizzazione Unica – AU) procedure;
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Variations in construction costs, supply chain delivery schedules, battery cell pricing, and interest/debt financing rates;
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Physical operational factors such as equipment degradation, grid curtailment, or interconnection modifications by the transmission system operator (Terna).
No Representations or Warranties / Independent Due Diligence
No representation, warranty, or undertaking, express or implied, is made by the developer, its advisors, affiliates, directors, or representatives regarding the accuracy, completeness, or reasonableness of the Information. The recipient must conduct its own independent technical, environmental, legal, financial, and tax due diligence. The recipient is advised to consult its own legal, regulatory, and financial advisors prior to entering into any agreement or incurring any financial obligations.
