The wacc represents the capital cost of the project

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The WACC represents the capital cost of the project, comprising the equity cost and the funding capital cost. The WACC is the reference rate to which the project has a minimal expected outcome in line with the rate of risk adopted on own capital. IRR of the project obtained under the conditions of energy sales price and evaluated CAPEX condition. Green cells are those conditions where the IRR of the project exceeds the WACC of the project, presenting a positive gain (NPV > 0). Energy Prices are illustrative, as it varies according the each project drivers and assumptions
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WACC CAPEX -20% module CAPEX -10% module Nominal CAPEX CAPEX +10% module CAPEX +20% module 11.91% R$ 2.89/Wp R$ 3.04/Wp R$ 3.19/Wp R$ 3.34/Wp R$ 3.49/Wp Investment R$ 307.1 Millions R$ 323.1 Millions R$ 339.0 Millions R$ 355.0 Millions R$ 371.0 Millions R$ 170/MWh 7.89% 6.68% 5.58% 4.57% 3.64% R$ 180/MWh 9.36% 8.08% 6.92% 5.87% 4.89% R$ 190/MWh 10.84% 9.48% 8.26% 7.14% 6.13% R$ 200/MWh 12.32% 10.88% 9.59% 8.42% 7.35% R$ 210/MWh 13.83% 12.30% 10.92% 9.69% 8.56% R$ 220/MWh 15.37% 13.73% 12.27% 10.96% 9.78% R$ 230/MWh 16.93% 15.18% 13.63% 12.25% 11.00% R$ 240/MWh 18.54% 16.66% 15.01% 13.54% 12.22% R$ 250/MWh 20.19% 18.18% 16.42% 14.86% 13.47% R$ 260/MWh 21.89% 19.74% 17.86% 16.20% 14.72% R$ 270/MWh 23.64% 21.34% 19.33% 17.57% 16.00% R$ 280/MWh 25.45% 22.98% 20.84% 18.97% 17.30% R$ 290/MWh 27.32% 24.68% 22.39% 20.40% 18.63% R$ 300/MWh 29.26% 26.43% 23.99% 21.86% 19.99% R$ 310/MWh 31.26% 28.24% 25.63% 23.37% 21.39% R$ 320/MWh 33.34% 30.11% 27.33% 24.92% 22.81% R$ 330/MWh 35.48% 32.03% 29.08% 26.52% 24.28% R$ 340/MWh 37.69% 34.03% 30.88% 28.16% 25.79% Case 1 - Scenario 2017 Imported Module
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WACC CAPEX -20% module CAPEX -10% module Nominal CAPEX CAPEX +10% module CAPEX +20% module 11.39% R$ 2.91/Wp R$ 3.06/Wp R$ 3.21/Wp R$ 3.36/Wp R$ 3.51/Wp Investment R$ 309.6 Millions R$ 325.4 Millions R$ 341.3 Millions R$ 357.1 Millions R$ 372.9 Millions R$ 170/MWh 7.91% 6.72% 5.63% 4.63% 3.71% R$ 180/MWh 9.39% 8.12% 6.98% 5.93% 4.97% R$ 190/MWh 10.87% 9.53% 8.32% 7.22% 6.21% R$ 200/MWh 12.36% 10.94% 9.66% 8.50% 7.43% R$ 210/MWh 13.88% 12.36% 11.00% 9.77% 8.66% R$ 220/MWh 15.42% 13.80% 12.35% 11.06% 9.88% R$ 230/MWh 16.99% 15.26% 13.72% 12.35% 11.11% R$ 240/MWh 18.60% 16.75% 15.12% 13.66% 12.35% R$ 250/MWh 20.26% 18.28% 16.53% 14.99% 13.60% R$ 260/MWh 21.97% 19.84% 17.98% 16.34% 14.87% R$ 270/MWh 23.73% 21.45% 19.46% 17.71% 16.16% R$ 280/MWh 25.54% 23.10% 20.98% 19.12% 17.47% R$ 290/MWh 27.42% 24.81% 22.55% 20.56% 18.81% R$ 300/MWh 29.37% 26.57% 24.15% 22.04% 20.18% R$ 310/MWh 31.38% 28.39% 25.81% 23.56% 21.59% R$ 320/MWh 33.46% 30.27% 27.52% 25.13% 23.03% R$ 330/MWh 35.61% 32.21% 29.28% 26.74% 24.51% R$ 340/MWh 37.83% 34.21% 31.10% 28.39% 26.03% Case 1 - Scenario 2018 Imported Module
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WACC CAPEX -20% module CAPEX -10% module Nominal CAPEX CAPEX +10% module CAPEX +20% module 12.43% R$ 2.90/Wp R$ 3.04/Wp R$ 3.19/Wp R$ 3.34/Wp R$ 3.49/Wp Investment R$ 307.7 Million R$ 323.4 Millions R$ 339.0 Millions R$ 354.6 Millions R$ 370.2 Millions R$ 170/MWh 7,40% 6.25% 5.20% 4.23% 3.33% R$ 180/MWh 8.84% 7.62% 6.51% 5.50% 4.56% R$ 190/MWh 10.28% 8.99% 7.82% 6.75% 5.77% R$ 200/MWh 11.73% 10.36% 9.12% 8.00% 6.97% R$ 210/MWh 13.20% 11.74% 10.43% 9.25% 8.17% R$ 220/MWh 14.69% 13.13% 11.75% 10.50% 9.36% R$ 230/MWh 16.21% 14.55% 13.08% 11.75% 10.56% R$ 240/MWh 17.76% 15.99% 14.42% 13.02% 11.76% R$ 250/MWh 19.36% 17.46% 15.79% 14.31% 12.97% R$ 260/MWh 21.00% 18.97% 17.19% 15.61% 14.20% R$ 270/MWh 22.69% 20.52% 18.62% 16.95% 15.45% R$ 280/MWh 24.43% 22.11% 20.09% 18.30% 16.72% R$ 290/MWh 26.24% 23.75% 21.59% 19.70% 18.02% R$ 300/MWh 28.10% 25.44% 23.14% 21.12% 19.34% R$ 310/MWh 30.03% 27.19% 24.73% 22.59% 20.70% R$ 320/MWh 32.03% 28.99% 26.37% 24.09% 22.09% R$ 330/MWh 34.10% 30.86% 28.06% 25.64% 23.51% R$ 340/MWh 36.24% 32.78% 29.81% 27.23% 24.98% Case 1 - Scenario 2019 Imported Module
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WACC CAPEX -20% module CAPEX -10% module Nominal CAPEX CAPEX +10% module CAPEX +20% module 12.95% R$ 2.88/Wp R$ 3.03/Wp R$ 3.17/Wp R$ 3.31/Wp R$ 3.46/Wp Investment R$ 305.9 Millions R$ 321.3 Millions R$ 336.7 Millions R$ 352.0 Millions R$ 367.4 Millions R$ 170/MWh 7.25% 6.12% 5.08% 4.13% 3.24% R$ 180/MWh 8.68% 7.48% 6.39% 5.39% 4.47% R$ 190/MWh 10.11% 8.84% 7.69% 6.64% 5.67% R$ 200/MWh 11.54% 10.20% 8.98% 7.88% 6.86% R$ 210/MWh 12.99% 11.56% 10.28% 9.11% 8.05% R$ 220/MWh 14.47% 12.94% 11.58% 10.35% 9.23% R$ 230/MWh 15.97% 14.34% 12.90% 11.60% 10.42% R$ 240/MWh 17.51% 15.77% 14.23% 12.85% 11.61% R$ 250/MWh 19.08% 17.23% 15.59% 14.13% 12.82% R$ 260/MWh 20.70% 18.72% 16.97% 15.42% 14.04% R$ 270/MWh 22.37% 20.25% 18.39% 16.74% 15.27% R$ 280/MWh 24.09% 21.82% 19.84% 18.09% 16.53% R$ 290/MWh 25.88% 23.44% 21.32% 19.46% 17.82% R$ 300/MWh 27.72% 25.11% 22.85% 20.88% 19.13% R$ 310/MWh 29.63% 26.84% 24.43% 22.32% 20.47% R$ 320/MWh 31.60% 28.62% 26.05% 23.81% 21.84% R$ 330/MWh 33.64% 30.47% 27.73% 25.35% 23.26% R$ 340/MWh 35.76% 32.37% 29.45% 26.92% 24.71% Case 1 - Scenario 2020 Imported Module
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Case 2 - 90 MW Local Modules 90 MW PV plant using Local modules and financed by development bank, according to the premises presented previously.
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  • Fall '19
  • Photovoltaics, Weighted average cost of capital

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