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.

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.

A project is advanced when land is secured (>50% chance) and grid access approval is likely (>90%). It is pre-construction when land, grid access, and environmental approval (>90%) are secured, with a PPA or equivalent agreement ready to sign.

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.

The EPC constructor has been given the order to start building.

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