Early Stage

A project that is technically and financially feasible, given that:

• the possibility of land exists,
• access to the electricity grid is operationally feasible, and/or
• the possibility of selling to third parties also exists.

Advanced Development

Project at an advanced technical and financial stage, given that:

• the land is guaranteed or we consider there is more than a 50% chance of obtaining it,
• the relevant requests to access the electricity grid have been placed and the probability of the request being approved is estimated to be more than 90%, and
• environmental permits have been requested.

Backlog

Project in its final stages prior to construction, where:

• the land and access to the electricity grid are guaranteed,
• the probability of the environmental permit being approved is more than 90%, and
• there is a PPA in place; or a framework contract with an off taker or bank ready to be signed; or a bankable price stabilization scheme.

Under Construction

The EPC constructor has been given the order to start building

IPP Operation

Project acceptance has been signed. Responsibility for the asset has been transferred from the constructor to the operations team.