Spreadsheet: vkaminski__40901__CASH_EPE_0400MyCopy
Sheet: Assm

 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Links From GasBol / GasMat Models
ASSUMPTIONS
 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.3 | 0.3 | 0.4
Power Plant Data |  | Phase I | Phase II | Phase III |  |  | Brazilian Taxes |  |  | Project Structure | Limitada |  | Project Costs ($000) |  |  |  |  | Phase I | Phase II | Phase III |  |  | Financing ($000) |  |  |  |  |  | Converge Table | Values | Inputs | Diff
Capacity |  |  |  |  | MW |  | Operating Taxes |  |  |  |  |  |  |  |  |  |  |  |  |  | Total |  |  | Rate | Margin
Availability |  | See Availability Table (Tariff Sheet) |  |  |  |  | Corporate Income Tax |  | 0.15 | On Taxable income |  |  | EPC Turnkey Contract |  |  |  |  |  |  |  |  |  | Tranche 1: KFW / Hermes - A Loan |  |  |  |  |  | Project Costs
Heat Rate |  |  |  |  | Btu / Kwh |  | Additional Income Tax |  | 0.1 | Income Over R$ | 240 |  | Approved Change Orders |  |  |  |  |  |  |  |  |  | Amount |  |  |  | 70125 |  | Interest During Construction
Dispatch |  | See Dispatch Table (Tariff Sheet) |  |  |  |  | Social Contribution Tax |  | 0.08 | On Taxable income |  |  | Pending Change Orders |  |  |  |  |  |  |  |  |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 1 |  | W/H Tax - IDC
Equipment |  | 2 V84.3A Seimens / 1 Steam Turbine |  |  |  |  | NOL (Unlimited Carryforward, No Carryback) - Capped @ |  | 0.3 | Of Taxable Income |  |  | Onshore Payment Adjustment |  |  |  |  |  |  |  |  |  | Term - Years (Post Closing) | 15 |  | # Of Debt Service Pmts |  |  | Upfront Fee
 |  |  |  |  |  |  | [NAME] (Non-Residents) |  | 0 | Income Earned After 1/1/96 Exempt |  |  | Turnkey Tax Adjustment (0=Off, 1=On) |  |  | 1 |  |  |  |  |  |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1 |  | Commitment Fee
Project Operations |  | Phase I | Phase II | Phase III | Phase III+ |  | Withholding Tax - Interest (Non-MLA's) |  | 0.15 | Gross Up For Interest Payments |  |  | Delay/Performance Damages From SCC (0=Off, 1=On) |  |  | 1 |  |  |  |  |  |  | Average Life Of Loan (Including Construction) |  |  | 0.035
Start Of Construction |  | 1997-12-01 00:00:00 |  |  |  |  | Withholding Tax - Interest (Non-MLA's - Cayman Islands) |  | 0.25 | Interest Paid To Tax Haven Such AS Cayman Islands |  |  | Total Turnkey Construction |  |  |  |  |  |  |  |  |  | Interest Rate / Spread | 0.0684 | 0.002 |  |  |  | Total Converge Difference
Term Of Construction - Months |  |  |  |  |  |  | Withholding Tax - Services (Non-Residents) |  | 0.15 | Gross Up At Project Level |  |  |  |  |  |  |  |  |  |  |  |  | Upfront Fee
Start Of Operations |  |  |  |  |  |  | PIS - Social Contribution |  | 0.0065 | On Gross Revenue |  |  | Diesel Fuel Inventory | 4 | MCM @ |  | Per MCM |  |  |  |  |  | Commitment Fee |  |  |  | 0.00375 |  | Loop Factor
Term of Operations - Months |  |  |  |  |  |  | COFINS - Social Contribution |  | 0.02 | On Gross Revenue |  |  | Land & Rights Of Way |  |  |  |  |  |  |  | 540 |  | Tranche 2: KFW / Hermes - B Loan
Date Diesel Phase Begins |  |  |  |  | 2000-06-01 00:00:00 |  | Payroll Tax |  | 0.29 | On Payroll (Included In O&M) |  |  | Owner's Engineer (Parson's) |  |  |  |  |  |  |  | 1925 |  | Amount |  |  |  | 70125
Term Of Contract - Years |  | From Start Of Phase I |  |  | 20 |  | Severance Fund |  | 0.08 | On Payroll (Included In O&M) |  |  | Environmental & Permitting |  |  |  |  |  |  |  | 1256.755719999999 |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 1
End Date Of PPA |  |  |  |  | 2019-04-30 00:00:00 |  | Education Fund |  | 0.025 | On Payroll (Included In O&M) |  |  | Consulting Fee | 2642 | +W/H Tax Of | 0 |  |  |  |  |  |  | Term - Years (Post Closing) | 15 |  | # Of Debt Service Pmts
0 |  |  |  |  | BOT |  | ICMS - Electricity Sales |  | 0 | Exempt |  |  | Total Other Construction |  |  |  |  |  |  |  |  |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1
 |  |  |  |  |  |  | ICMS - Transportation |  | 0 | Exempt |  |  |  |  |  |  |  |  |  |  |  |  | Average Life Of Loan (Including Construction) |  |  | 0.035
[NAME] |  |  |  |  |  |  | ICMS - Fuel Purchases |  | 0 | Exempt |  |  | Interest During Construction "IDC " |  |  |  |  |  |  |  |  |  | Interest Rate / Spread | 0.0683 | 0.0065
Date Of Financial Close |  |  |  |  |  |  | ISS - Services Rendered Tax |  | 0 | [NAME] 2%-5% (Exempt) |  |  | [NAME] |  |  |  |  |  |  |  |  |  | Upfront Fee
PPA To Financial Close - Months |  |  |  |  |  |  | CCC - Conta Compensador De Combustivel |  | 1 | Subsidy Of Fuel Costs |  |  | Commitment Fee |  |  |  |  |  |  |  |  |  | Commitment Fee |  |  |  | 0.0025
First Debt Service Payment |  |  |  |  |  |  | TJLP Interest Rate (From Finance Plan) |  | 0.1 | Published Monthly In Diario Official By Banco Central |  |  | Upfront Fee |  |  |  |  |  |  |  |  |  | Tranche 3: KFW (Uncovered Loan)
 |  |  |  |  |  |  | Real Estate Transfer Tax |  | 0 | Calc'd On Land Costs, [NAME] |  |  | Financing Costs (Borrower And Lender) |  |  |  |  |  |  |  | 7419.875 |  | Amount
Pricing |  |  |  | Base Year For Tariff Pricing | 1997 |  | Real Property Tax |  | 0 | Annual On Land, Assumed Exempt |  |  | Financing Costs (Other) |  |  |  |  |  |  |  | 0 |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 2
 |  |  |  | Annex 12 Escalation (0=Off, 1=On) | 1 |  | Customs Duties |  |  |  |  |  | 3rd Party Legal Fees |  |  |  |  |  |  |  | 4288.125 |  | Term - Years (Post Closing) | 11 |  | # Of Debt Service Pmts
Capacity Payments |  | Phase I | Phase II | Phase III | Escalation |  | ICMS - Equipment |  | 0.17 | See Construction Tax Schedule |  |  | Construction Insurance |  |  |  |  |  |  |  |  |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1
Plant & Transmission ($/Kw-Mo) |  | See Tariff Sheet |  |  | CPI / IGPM |  | Import Duties - Equipment |  | 0.15 | See Construction Tax Schedule |  |  | Total 3rd Party Dev / Financing Costs |  |  |  |  |  |  |  |  |  | Average Life Of Loan (Including Construction) |  |  | 0
Transport Gas ($/Kw-Mo) |  | See Tariff Sheet |  |  | CPI |  | Import Duties - Major Maintenance |  | 0.1 | On Imported Equipment |  |  |  |  |  |  |  |  |  |  |  |  | Interest Rate / Spread | 0.0677 | 0.025
Commodity Gas ($/Kw-Mo) |  | See Tariff Sheet |  |  | CPI Less .0025 |  | IPI - Industrial Products Tax |  | 0.087 | Rate Varies By Equipment Type |  |  | Development Costs | 14055.9197342 | +W/H Tax Of | 0 |  |  |  |  |  |  | Upfront Fee |  |  |  | 0.015
Energy (Variable) Payments |  |  |  |  |  |  |  |  |  |  |  |  | Operations Mobilization - Plant |  |  |  |  |  |  |  |  |  | Commitment Fee |  |  |  | 0.0025
Variable Commodity |  | See Tariff Sheet |  |  | CPI Less .0025 |  | Sudam Tax Credits Reserve |  |  | (0 = Off, 1 = On) | 1 |  | Operations Mobilization - WTF |  |  |  |  |  |  |  | 97 |  | Tranche 4: BNDES | (0=Off, 1=On) | 0
Variable O&M |  | See Tariff Sheet |  |  | IGPM |  | Credits Held In A Reserve (Non Distributable As Dividends, Only As Trapped Cash Loans) |  |  |  |  |  | Total Development Costs / Fees |  |  |  |  |  |  |  |  |  | Amount
 |  |  |  |  |  |  | Reserve Can Be Used Against Net Losses (Forward & Backward) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 2
Fuel Purchases |  |  |  | Base Year For Fuel Costs: | 1998 |  | Credit Available = Tax Rate X Operating Income Reduced By Below % |  |  |  |  |  | Working Capital |  |  |  |  |  |  |  |  |  | Term - Years (Post Closing) | 16 |  | # Of Debt Service Pmts
 |  |  |  |  |  |  | Final Year Of Tax Credits ==> | 2013 |  |  |  |  | Spare Parts - Plant |  |  |  |  |  |  |  | 4544.494 |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1
Diesel (Petrobras-Phase I Only) |  |  |  |  | Escalation |  |  |  |  |  |  | 1 | Spare Parts - WTF |  |  |  |  |  |  |  | 100 |  | Average Life Of Loan (Including Construction) |  |  | 0
Kcal / Kg | 10400 | R$ / Cubic Meter (CM) |  | 360.4 | ANP Index |  | Tax Period Starting In Year | 1998 | 2004 | 2009 |  |  | Total Other Costs |  |  |  |  |  |  |  |  |  | Interest Rate / Spread | 0.1168 | 0.035
Kg / CM | 850 | CM / MMBTU |  |  |  |  | Operating Income Rate | 0.75 | 0.5 | 0.25 |  |  |  |  |  |  |  |  |  |  |  |  | Upfront Fee |  |  |  | 0.01
BTU / Kcal |  | R$ / MMBTU |  |  |  |  |  |  |  |  |  |  | Contingency - Diesel Burned |  |  |  |  |  |  |  | 0 |  | Commitment Fee |  |  |  | 0
MMBTU / CM |  | $ / MMBTU |  |  | @ Bid Exch |  | US Taxes |  |  |  |  |  | Contingency - Change Orders |  |  |  |  |  |  |  | 4179.408333333333 |  | Tranche 5: MLA - OPIC
 |  | $ / Kwh |  |  |  |  | Tax Position / Structure |  | Deferral |  |  |  | Contingency - Other |  |  |  |  |  |  |  | 0 |  | Amount
Natural Gas (TBS Contract) |  |  |  |  |  |  | Federal Income Tax |  | 0.37 |  |  |  | Total Contingency |  |  |  |  |  |  |  |  |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 3
Variable Rate |  | 1.21 | / MMBTU |  | CPI Less .0025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Term - Years (Post Closing) | 15 |  | # Of Debt Service Pmts
Yabog Rate |  | 0.25 | / MMBTU |  | None |  | Depreciation Assumptions |  | Basis ($000) | Life (Yrs) | Method |  | Total Project Costs |  |  |  |  |  |  |  |  |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1
(Variable & Yabog Rates Based On Greater Of Consumed / Take Or Pay Volumes) |  |  |  |  |  |  |  |  |  |  |  |  | Total Project Costs ($ / Kw) |  |  |  |  |  |  |  |  |  | Average Life Of Loan (Including Construction) |  |  | 0
 |  |  |  |  |  |  | Tax | Phase I |  | 20 | S/L |  |  |  |  |  |  |  |  |  |  |  | Interest Rate / Spread | 0.063125 | 0.047
Fixed Transportation Rate |  | See Tariff Sheet For Pricing |  |  | CPI |  |  | Phase II |  | 20 | S/L |  | Delay/Performance Damages (SCC) |  |  |  |  |  |  |  |  |  | Upfront Fee |  |  |  | 0.015
 |  |  |  |  |  |  |  | Phase III |  | 20 | S/L |  |  |  |  | Damages | Actual | Total | Disputed | Net | Damages |  | Commitment Fee |  |  |  | 0.005
TOP Obligation (TBS) |  | Outage | Average |  |  |  |  |  |  |  |  |  |  | From | To | $000 / Day | Start Date | Days | Days | Days | Received |  | Tranche 6: Subordinated Debt
Start Date | DCQ | Days | DCQ | TOP% | TOP |  | Book | Phase I |  | 20 | S/L |  | Phase I Operations | 1998-09-26 00:00:00 | 1999-05-04 00:00:00 | 49577 | 1999-04-05 00:00:00 |  |  |  |  |  | Amount |  |  |  |  | =IF(AB90=0,AB69,IF(AB97=1,AB69,0))
 | 80800 | 32 |  | 0.8 |  |  |  | Phase II |  | 20 | S/L |  |  |  |  | 105948 |  |  | 0 |  |  |  | Loan Amortization Style (1=SL, 2=MTG, 3=Custom) |  |  |  | 2
 |  |  |  |  |  |  |  | Phase III |  | 20 | S/L |  |  |  |  |  |  |  |  |  |  |  | Term - Years (Post Closing) | 12 |  | # Of Debt Service Pmts
Operating Expenses ($000) - Power Plant |  |  |  | Base Year For Op Exp: | 1998 |  |  |  |  |  |  |  | Phase II Operations | 2000-07-30 00:00:00 |  | 140000 | 1999-12-02 00:00:00 |  | 0 |  |  |  | Grace (Periods) - Post Closing |  |  | Grace - Post Phase III | 1
 |  |  |  |  |  | 1 | US GAAP | Phase I |  | 20 | S/L |  |  |  |  | 386009 |  |  | 0 |  |  |  | Average Life Of Loan (Including Construction) |  |  | 0
Fixed (R$ Based) |  |  |  |  | Escalation |  |  | Phase II |  | 20 | S/L |  |  |  |  |  |  |  |  |  |  |  | Interest Rate |  |  |  | 0.13
Payroll & Burden (Includes WTF) |  |  |  |  | IGP |  |  | Phase III |  | 20 | S/L |  | Phase III Operations |  | 2001-05-04 00:00:00 | 115000 | 2000-05-02 00:00:00 |  | 0 |  |  |  | Upfront Fee |  |  |  | 0
Other O&M Expenses |  |  |  |  | IGP |  |  |  |  |  |  |  |  |  |  | 181221 |  |  | 0 |  |  |  | Commitment Fee |  |  |  | 0
Commercial Office |  |  |  |  | IGP |  | Trapped Cash
Sustaining Capital |  |  |  |  | IGP |  | Distributions Are Limited To Retained Earnings |  |  |  |  |  |  |  |  |  | (C)-Min Of (A)&(B) |  | ([NAME] |  | (A)-Calculated |  | Other Senior Debt Fees | OPIC Agency Fee ($000) |  |  | 25
Minor Maintenance (Incl WTF) | 0.7 |  |  |  | IGP |  | Apply Capital Reductions Of Excess Cash (0=No, 1=Yes) |  |  |  | 0 |  | Total Delay Damages |  |  |  |  |  | 60000 |  |  |  |  | EPE Percent / Amount |  | 0.5
Major [NAME] (Avg) |  |  |  |  | IGP |  | Trapped Cash Loans To Partners (0=No, 1=Yes) |  |  |  | 1 |  | Total Performance Damages |  |  |  |  |  | 53600 |  | 1600 |  |  | Final Year Of Payment
 |  |  |  |  |  |  | Capital Reduction In Final Year To Liquidate Partner Loans |  |  |  | 1 |  | Lesser Of (A) Or (B)
Fixed (US$ Based) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Capital Structure
JVM Management Fee |  |  |  |  | CPI |  | Interest Income To Project On Trapped Cash Loans |  |  |  | 0.05 |  | Project / Enron Economics |  |  |  |  |  |  |  |  |  | Senior Debt
[NAME] |  |  |  |  | CPI |  | Interest Expense To Shareholders On Trapped Cash Loans |  |  |  | 0.06 |  |  |  |  |  |  |  | [NAME] | IRR | NPV |  | Subordinated Debt / Sudam Financing
Operating Insurance |  | 0 |  |  | CPI |  |  |  |  |  |  |  | Project w/o Trapped Cash |  |  |  |  |  |  |  |  |  | [NAME]
Minor Maintenance (Incl WTF) |  |  |  |  | CPI |  | Exchange Rate |  |  |  |  |  |  |  |  |  |  |  |  | 0.15 | Target IRR |  | Equity
Major [NAME] (Avg) |  |  |  |  | CPI |  | Base Exchange Rate Per PPA (R$ Per US$) |  |  |  | 1.065 |  |  |  |  |  |  |  |  |  |  |  | Total Investment
 |  |  |  |  |  |  | Start Date For Economic Equilibrium |  |  |  | 1999-09-01 00:00:00 |  |  |  |  |  |  |  |  |  |  |  | Maximum Life Of Loan
Variable |  |  |  |  |  |  | Apply Purchasing Power Parity (0=No, 1=Yes) |  |  |  | 0 |  |  |  |  |  |  |  |  |  |  |  | [NAME] (Senior Debt)
Chemicals (Includes WTF) |  |  |  |  | IGP |  | Apply Escalation (0=No, 1=Yes) |  |  |  | 1 |  |  |  |  |  |  |  |  |  |  |  | [NAME] (Senior Debt)
Based On Usage (Kwh) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | [NAME] (Senior Debt)
Chemicals ($ / Kwh) |  |  |  |  | IGP |  | Escalators |  |  |  |  |  | TOTAL PARTNERS
 |  |  |  |  |  |  | Use 09/04/98 Curves used for Bank Models (0=No, 1=Yes) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | DS Coverage Ratios |  | Pre-Tax | After-Tax | A-T Target
Working Capital |  |  |  | (0=Project Costs, 1=W/C Facility, 2=Fund Project Cost W/Operating Cash) | 0 |  |  |  |  |  |  |  | Plus: Political Risk Insurance |  |  | (1) |  |  |  |  |  |  | Minimum |  |  |  | 1.4
 |  |  |  |  |  |  | Interest On Net Equity (INE) |  |  |  |  |  | Plus: Interest Expense On Partner Loans |  |  | (1) |  |  |  |  |  |  | Average |  |  |  | 1.8
Components |  |  |  | Fee | Interest |  | Limited To The Lesser Of | 0.5 | Of Earnings Before Taxes |  |  |  | Plus: Withholding On INE |  |  | (1)
Days Of Commodity Fuel | 0 |  | Rate | 0.015 | 0.0575 |  |  |  | TJLP Rate Of Project Equity |  |  |  | Less: Indemnity Fee |  |  | (1) |  |  |  |  |  |  | Debt Reserve |  | Service To Be Provided By | Dresdner Bank
Days Of Fuel Transportation | 0 |  | Utilized | 0.5 |  |  |  |  |  |  |  |  | Plus: W/H Tax On Indemnity Fee |  |  | (1) |  |  |  |  |  |  |  | 6 | Months Of Debt Service Required
Days Of O&M Excl Insurance | 0 |  | Net Rate |  |  |  | Ownership (Pre Selldown) |  | Equity $ | Equity % | Cash Flow % |  | Less: Consulting Fees Paid At Enron Level |  |  | (1) |  |  |  |  |  |  |  | 0.025 | L/C Fee p.a.
Years Of Operating Insurance | 0 |  |  | Total Rate (B) |  |  | Enron |  |  |  |  |  | Less: Houston Overheads Not Included In Project Costs |  |  | (1)
Total W/C Required (A) |  |  |  | Annual Expense (A*B) |  |  | Shell |  |  | 0.21875 |  |  | Less: JVM Management Fee |  |  | (1) |  |  |  |  |  |  | Shareholder Constr Loan
 |  |  |  |  |  |  | Transredes |  |  | 0.125 |  |  | Plus: US Tax (Cost) / Benefit (1)'s Above |  |  |  |  |  |  |  |  |  | Amount Of Construction Loan |  |  | Interest Rate | 0.06
Reduction of Project Cost From Operating Cash |  | 0 |  |  |  |  | Total |  |  |  |  |  | Plus: Bridge Loan Amount |  |  |  |  |  |  |  |  |  |  |  |  | Cost Of Funds | 0.065
 |  |  |  |  |  |  |  |  |  |  |  |  | Less: Bridge Loan Repayment
Bonds |  | Term (Yrs) | Amount | Rate | Expense |  | Ownership (Post Selldown) |  | Equity $ | Equity % | Cash Flow % |  | Plus: Interest Income Bridge Loan |  |  | (2) |  |  |  |  |  |  | Sudam Financing Option
[NAME] |  | 20 | 22000 | 0.005 |  |  | Enron |  |  |  |  |  | Less: Political Risk Insurance - Bridge Loan |  |  | (2) |  |  |  |  |  |  | Incorporate Sudam Financing Option (0=No, 1=Yes) |  |  |  | 0
 |  |  |  |  |  |  | Shell |  |  |  |  |  | US Tax (Cost) / Benefit (2)'s Above |  |  |  |  |  |  |  |  |  | Date To Incorprate Sudam Financing |  |  |  | 2000-06-01 00:00:00
YPF Guarantee |  |  | 12500 | Guarantee |  |  | Transredes |  |  |  |  |  | Plus: Subordinated Debt Amount |  |  |  |  |  |  |  |  |  | # Of Months From Phase III Completion To Repurchase Preferred Shares |  |  |  | 2
 |  |  | 0.025 | L/C Fee p.a. |  |  | New Investor |  |  |  |  |  | Less: Subordinated Debt Repayment |  |  |  |  |  |  |  |  |  | Date Of Repurchase Of Preferred Shares
 |  |  |  |  |  |  | Total |  |  |  |  |  | Plus: Interest Income Subordinated Debt |  |  | (3) |  |  |  |  |  |  | Est. Available Sudam Funds/Original Value Of Sudam Preferred Shares |  |  | 30000
Interest On Cash Balances |  |  |  |  |  |  |  |  |  |  |  |  | Less: Political Risk Insurance - Subordinated Debt |  |  | (3) |  |  |  |  |  |  | Discount On Repurchase Of Preferred Shares |  |  | 0.45
 |  |  |  | Assumed Rate For Cash Held | 0.05 |  | Enron Selldown |  |  | Equity % | Cash Flow % |  | US Tax (Cost) / Benefit (3)'s Above |  |  |  |  |  |  |  |  |  | Transaction Costs |  |  | 0.03
 |  |  |  |  |  |  | New Investor Equity % (LJM) |  |  | 0.13 |  |  | Less: Purchase Preferred Sudam Shares |  |  |  |  |  |  |  |  |  | Purchasers Of Preferred Shares |  | 0=No, 1=Yes | % Ownership | [NAME]*
Electronorte Purchase Price Option |  |  |  |  |  |  | New Investor Subordinated Debt % (LJM) |  |  | 0 |  |  | Less: Political Risk Insurance - Sudam Shares |  |  | (4) |  |  |  |  |  |  | Enron
Final Year Plant & Transmission Capacity Tariff (R$/Mw-Month) |  |  |  |  |  |  | Enron Ownership Post LJM Selldown |  |  |  |  |  | US Tax (Cost) / Benefit (4) Above |  |  |  |  |  |  |  |  |  | Shell |  | 1
Final Year Plant Capacity (Mw) |  |  |  |  |  |  | LGM Selldown Proceeds |  |  |  | 11300 |  | Subtotal Partner Level Adjustments |  |  |  |  |  |  |  |  |  | Transredes |  | 1
PPA Multiple | 0.01 |  | Times The Product Of | 240 |  |  | LGM Sale Date (Temporary Sale) |  |  |  | 1999-10-01 00:00:00 |  |  |  |  |  |  |  |  |  |  |  | New Investor |  | 0
Electronorte Purchase Price (R$000) |  |  |  |  |  |  | [NAME] ROR |  |  |  | 0.13 |  | Reconciled Project NPV |  |  |  |  |  |  |  |  |  | * Includes both Preferred Share price & Transaction Costs |  |  | Total Outflow
Electronorte Purchase Price (US$000 @ Bid Exchange) |  |  |  |  |  |  | Assumed LGM Cost To Project At New Investor Sale Date |  | (0=No, 1=Yes) | 1 |  |  | Unallocated Difference |  |  |  |  |  |  |  |  |  | Cash Received By New Investor For Preferred Shares
 |  |  |  |  |  |  | Date Of Selldown To Permanent Investor- Equity |  |  |  | 2000-03-01 00:00:00
 |  |  |  |  |  |  | Date Of Selldown - Subdebt |  |  |  | 2000-03-01 00:00:00 |  | Enron Book Income
 |  |  |  |  |  |  | New Investor Proceeds (Equity) |  |  |  | 38 |  | Consulting Fees Above $4,000 [NAME]
 |  |  |  |  |  |  | New Investor Equity Percent |  |  |  | 0.13 |  | Houston Overheads Not Included In Project Costs |  |  |  |  |  |  |  | 2259
 |  |  |  |  |  |  | Enron Ownership Post Selldown
 |  |  |  |  |  |  | Assume New Investor Assumes Share Of Subdebt |  | (0=No, 1=Yes) |  | 0 |  |  |  |  |  | 1998 | 1999 | 2000 | 2001 | 2002
 |  |  |  |  |  |  | [NAME] |  |  |  |  |  | Enron Book Income (Including Enron Cost Of Funds)
 |  |  |  |  |  |  |  |  |  |  |  |  | Enron Avg Book Income (Yrs 1-5) - Comm Ops
 |  |  |  |  |  |  | Political Risk Insurance |  |  | Partner Level Only |  |  | Enron Avg Book Income (Project Life) - Comm Ops
 |  |  |  |  |  |  | Book Earnings Method |  | 0.01 | Of Equity Book Value