INTERNATIONAL PROJECT FINANCE · SOLAR · PPA

PPA financial
simulator

Explore long-term contracted and merchant economics, financing structure, debt service and equity returns in one transparent model.

MODEL INPUTS

Project setup

01 Project assumptions

Project name

Where is your project located? Project currency · functional

Suggested for Brazil: BRL. Current project currency: BRL. Location does not change currency or convert/reinterpret entered amounts. Review monetary inputs if you choose a different functional currency.

Installed capacity MWp Yield MWh/MWp/yr

Expected annual production145,000 MWh

Annual degradation % Economic life years

Commercial operation date

02 PPA & merchant

PPA duration years Contracted energy %

Year 1 PPA price BRL/MWh

PPA indexation %/yr Merchant escalation %/yr

Year 1 merchant price BRL/MWh

Upside scenario % vs base Downside scenario % vs base

The annual merchant curve escalates from Year 1. Base, upside and downside price cases are shown in the model and can be adjusted here.

03 Operating assumptions

Total CAPEX BRL

CAPEX per MWpBRL 750,000

Fixed OPEX BRL/yr Variable OPEX BRL/MWh

Insurance BRL/yr Land lease BRL/yr

Maintenance BRL/yr OPEX escalation %/yr

General inflation reference informational · %/yr

Reference only. OPEX uses its separate escalation assumption.

04 Financing

Funding basis

Debt % of CAPEX Debt amount BRL

Equity contribution BRL

Interest rate %/yr Financing tenor years

Grace period years Repayment

Financing fee % of debt

05 Valuation

Discount rate %/yr

LIVE PROJECT MODEL

Illustrative Solar Project

Brazil · BRL/100 MWp/COD Jan 2027

MERCHANT CASE

CURRENCY & REPORTING

Presentation currency and exports

Functional-currency model remains unchanged

PROJECT CURRENCYBRL · Brazilian real

Reporting currency

Quick select

Project currency is functional. Reporting currency changes presentation only. Existing monetary assumptions are never converted when you change project location or currency. No exchange rate is assumed.

Manual / reference exchange rate Quotation

Identity conversion, same currency.

Report scope

Preparing report preview…

Advanced FX exposure stress analysis Optional · user-defined paths, not a forecast

The operating model remains in project functional currency. This separate stress translates each cash-flow category along the annual FX changes below. Enter functional-currency units per 1 unit of each exposure currency. Base values are treated as translated at that starting rate. No market path is supplied by default.

RevenueCurrency Base FX Annual FX change %

CAPEXCurrency Base FX Annual FX change %

OPEXCurrency Base FX Annual FX change %

DebtCurrency Base FX Annual FX change %

Equity investorCurrency Base FX Annual FX change %

Additional annual FX scenario shock %Upside adds this movement to foreign-currency paths; Downside subtracts it. Zero means no stress difference.

Project IRR—Unlevered · pre-tax

Equity IRR—Levered · pre-tax

Project NPV—At 10.0% discount rate

Minimum DSCR—Average —

↗Project payback—

↗Discounted project payback—

↗Equity payback—

↗Discounted equity payback—

REVENUE PROFILE

Contracted and merchant revenue

BRL

PPA · baseMerchant · baseUpside totalDownside total

CASH GENERATION

Project and equity cash flow

PER YEAR

Project cash flowEquity cash flow

ANNUAL PROJECTIONS

Operating and debt performance

BASE CASE

Year	Generation MWh	PPA price BRL/MWh	Merchant price BRL/MWh	PPA revenue BRL	Merchant revenue BRL	EBITDA BRL	CFADS BRL	Debt service BRL	DSCR

FINANCING

Debt amortization

—

Year	Opening BRL	Interest BRL	Principal BRL	Debt service BRL	Closing BRL

SENSITIVITY

Project IRR matrix

PPA PRICE / CAPEX

CAPEX change ↓PPA price change →

Pre-tax unlevered IRR. Each case changes only the displayed price and CAPEX assumptions.

MODEL CONVENTION

Annual periods from COD · full-period generation · pre-tax CFADS · annual interest on opening debt · fees paid at financial close · no terminal value, working capital or tax effects.