为什么西班牙新能源交易要按项目阶段估值？
西班牙太阳能、风电、储能、工程服务和基础设施企业可为中国买方提供欧洲新能源平台。但早期项目、可建项目和运营资产的风险完全不同。
估值必须按项目阶段和合同确定性拆分。
估值重点
买方应关注项目阶段、许可、电网接入、PPA、建设成本、融资、EPC合同、运营表现、税务和监管风险。
如果项目尚未取得关键许可，不应按运营资产估值。
尽职调查重点
尽调应覆盖土地、许可、电网接入、PPA、建设合同、环保、融资文件、税务、诉讼和监管审批。
Lyndon如何协助
Lyndon可协助中国买方、西班牙新能源企业和顾问准备估值、资料室、项目风险清单和交易执行。
About the Author
Daniel Bae
Co-founder & CEO, Lyndon Advisory
Daniel is an investment banker with 15+ years of experience in M&A, having advised on deals worth over US$30 billion. His career spans Citi, Moelis, Nomura, and ANZ across London, Hong Kong, and Sydney. He holds a combined Commerce/Law degree from the University of New South Wales. Daniel founded Lyndon Advisory to solve the pain points in M&A, enabling bankers to focus on what matters most — delivering trusted advice to clients.
About Lyndon Advisory
Lyndon Advisory is an M&A advisory firm built for Asia Pacific. We help business owners sell their companies and investors make strategic acquisitions with senior-led execution, disciplined process management, and AI-supported buyer intelligence.
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