A strategically positioned operational solar photovoltaic portfolio in Brazil, comprising three distributed-generation assets with a combined 13.0 MWac / 16.89 MWp capacity. The portfolio offers investors exposure to operating renewable-energy infrastructure with an established commercial structure based on Feed-in Tariff / Shared Distributed Generation PPAs, providing the potential for recurring and predictable cash flows. The portfolio is being presented on an anonymized basis for qualified investors. Detailed asset identities, locations, counterparties and supporting documentation are available through a controlled due diligence process.

Investment Highlights

USD conversion based on R$5.50/US$ for presentation purposes. All valuation figures are indicative and subject to confirmatory due diligence.

Portfolio Composition

The indicative valuation is based on US$0.84M per MWp, derived from the reported target price of R$4.60M/MWp.

Operational Profile

Solar Asset A — Preliminary Operating Indicators

Asset A currently represents the portfolio’s most developed information set and provides an indication of the operational characteristics of the platform.

• 5.0 MWac / 6.252 MWp
• ~10.2 GWh annual P90 generation
• Reported production at 108%–121% of expected baseline
• Reported Performance Ratio of 83%–94%
• Reported 15-year FIT / Shared DG PPA
• CAPEX reported as fully executed
• Reported low operational risk
• Indicative IRR of approximately 14%–15%

Commercial Structure

The portfolio operates under a PPA FIT / Feed-in Tariff / Shared Distributed Generation model.

Reported commercial parameters include:

Tariff Discount: 29% net of taxes
Equivalent Tariff: approximately US$98/MWh
Indicative TUSDg: approximately US$0.78/kW + applicable taxes
Portfolio DC/AC Ratio: 1.30x

The commercial parameters were supplied by the partner/client and remain subject to independent confirmation during due diligence.