Notes ACF Open Book PDF

**\ ** **\ ** **OPEX:** Recurring costs to maintain daily business operations and production. **CAPEX:** PPE 2020 -- PPE 2019 + DEPRECIATION\ **Net working capital:** Current assets -- Current liabilities **Opex three buckets:** - Cost of goods sold (COGS) - Sales, gen...

**\ ** **\ ** **OPEX:** Recurring costs to maintain daily business operations and production. **CAPEX:** PPE 2020 -- PPE 2019 + DEPRECIATION\ **Net working capital:** Current assets -- Current liabilities **Opex three buckets:** - Cost of goods sold (COGS) - Sales, general & administrative expense (SG&A) - Depreciation (measures the investment you need to sustain) QUICK AND DIRTY: FCF/WACC = ENTERPRISE VALUE ENTERPRISE VALUE -- NET DEBT = EQUITY VALUE    **Gross cash flow** total end of year cash flow generated by the company's operations before all investments. **Free operating cash flow to capita**l total end of year cash flow generated by the company's operations after all investments. So, this is the cash flow entirely available for\ investor payout.     PROJECT FINANCE   Afbeelding met tekst, schermopname, Lettertype Automatisch gegenereerde beschrijving **EPC**: Engineering, Procurement, and Construction - Refers to the contract with suppliers for equipment performance guarantees during project development. **O&M**: Operations and Maintenance - Represents the agreement for ongoing maintenance and operational support, ensuring plant availability. **PPA**: Power Purchase Agreement - A long-term contract with an energy buyer who agrees to purchase energy at pre-established prices, providing revenue stability. Afbeelding met tekst, schermopname, Lettertype, nummer Automatisch gegenereerde beschrijving