2 GW solar + 200 MW × 4h BESS + 300-400 MW IT Datacenter · 10.589 ha · Rio Sono · Tocantins · Brasil
Validados via Financial Model v5.0 · 17 sheets · 2.546 fórmulas · 10.000 Monte Carlo iterations · IFC PS 1-8 compliant · ISAE 3000 limited assurance ready
Em CAPEX de IA até 2030. A IA consumirá mais energia que a Alemanha. A pergunta: onde virá toda essa energia limpa?
Source: McKinsey 2024 · Bain & Company 2025 · BloombergNEF 2026
O Brasil estrutura 30-50% abaixo dos benchmarks globais. Posicionamento único.
Convergência única: 6.05 kWh/m²/d irradiância · Lei ASR-CFE 14.987/2025 · SUDAM 75% IRPJ · 10.589 ha contíguos · 28 km da LT 500 kV
50+ GW renovável adicional até 2030 · Brazil Top-3 LATAM priority · AECF program scaling agressivamente.
100% carbon-free 24/7 por 2030 · não offsets · real-time matched. DeepMind Brazil + Cloud BR.
Climate Pledge · Net Zero 2040 · Project Stargate USD 500B · Meta USD 65B AI infra capex 2025-2026.
Irradiância world-class · validada por NASA POWER · INPE · Solargis Pro · 24+ meses ground data
Lei 13.799/2019 · 10 anos +5 renováveis · Amazon Legal · NPV benefício USD 1,2B
Suspensão PIS/COFINS sobre CAPEX infraestrutura · Lei 11.488/2007 · economia USD 351M
30-50% abaixo de benchmarks US/EU · competitivo globalmente para 24/7 verde
| Região | LCOE 24/7 Verde | Renewable Share | Capacity Factor |
|---|---|---|---|
| EUA · Texas | USD 95-130/MWh | ~95% | ~28% |
| Europa · média | USD 110-160/MWh | ~85% | ~22% |
| Ásia · Japão/Singapura | USD 140-200/MWh | ~80% | ~18% |
| BRASIL · VEREDA | USD 117/MWh | 100% | 29,8% |
Coordenadas ~10°S 47°W · Cerrado antropizado · zero indígena · 28 km de SE Lajeado 500 kV · TO-010 adjacente
| Fonte | Estudo | GHI Anual | Status |
|---|---|---|---|
| NASA POWER | Public · 22-year historical | 2.198 kWh/m²/yr | ✓ Validated |
| INPE LABREN | Brazilian solar atlas | 2.210 kWh/m²/yr | ✓ Validated |
| Solargis Pro v7.4 | Premium tier-1 commercial | 2.215 kWh/m²/yr | ✓ Validated |
| PVSyst v7.4 | Bankable modeling | 2.208 kWh/m²/yr | ✓ P50 confirmed |
| Média | 6.05 kWh/m²/d daily | 2.207 kWh/m²/yr | ✓ BANKABLE |
2,5 GWp DC · TOPCon bifacial · OEMs Tier-1 (LONGi · Trina · JA · Canadian) · capacity factor 29,8%
200 MW × 4h · LFP technology · CATL/BYD/Sungrow/Fluence/Wartsila · RTE 85-88%
300-400 MW IT-load · 2N topology · liquid cooling · PUE 1,20 · WUE 0,15 L/kWh
| Asset | Distância | Detalhes | Status |
|---|---|---|---|
| LT 500 kV Lajeado | 28 km | Subestação 2.000 MVA · upgrade 3.500 MVA 2028 | ✓ Pre-consult ONS |
| LT 500 kV Miracema (backup) | 42 km | Backup técnico | ✓ Plan B disponível |
| Rodovia TO-010 | Adjacente | Pavimentada · acesso por vicinal 6,2 km | ✓ Operacional |
| Aeroporto Palmas | 200 km | 3h estrada · charter disponível | ✓ Acessível |
| Sede Rio Sono | 40 km | ~7.500 hab · prefeitura aliada | ✓ Engagement ativo |
10.589 ha em polígono único · zero fragmentação · ZERO compra adicional para 2 GW + DC + LT + H₂ optionality
Solar + BESS + DC + LT + H₂ futuro · sinergia infraestrutural · expansão Fase 2 (+400 MW IT) sem land additional
Cerrado antropizado · BR Amazon Legal SUDAM · ASR-CFE Tier-1 site · TIPO-A para hyperscaler
PVSyst v7.4 · Solargis Pro · NASA POWER · 24-month measured ground data · independently verifiable
Solar 2 GWac → BESS 200 MW × 4h → DC 300-400 MW IT → Hyperscaler PPA + Grid CCEE excedente
Optionality Fase 2: +400 MW IT · +1 GW solar · Green H₂
Dual feeds redundancy desde Day-1 · concurrent maintainable · fault tolerant · 99.985%+ uptime target
Direct-to-chip + rear-door HX · adequado tropical climate · NVIDIA Blackwell GB200 ready · custom Microsoft/Google silicon
ISO 27001/27017 · SOC 2 Type II · LGPD ready · NIST framework · air-gap OT · multi-layer defense
Mapped + evidenced · covenant para IDB Invest + IFC + BNDES Verde · audit annual via Big-4
Climate disclosures aligned · GRI Universal Standards · SASB Industry Standards · annual reporting from Y1
Climate · Water · Forests submission Y0 ramp-up · SBTi Net Zero 2040 commitment validated
| Componente | LCOE Contribution | % |
|---|---|---|
| Solar PV (2 GWac) | USD 68/MWh | 58% |
| BESS (200 MW × 4h) | USD 22/MWh | 19% |
| Transmission (LT 500 kV) | USD 8/MWh | 7% |
| O&M + Insurance | USD 12/MWh | 10% |
| Financing + Taxes | USD 7/MWh | 6% |
| BLENDED TOTAL | USD 117/MWh | 100% |
Source: Financial Model v5.0 · validated bottom-up by tier-1 EPCs benchmarks
Solar PV substituting Brazil grid mix · 210k tCO₂e/yr · 30 anos cumulative
Cerrado restoration 1.500 ha em 10 anos · 8-12k tCO₂e/yr steady state
Carbon credits NPV @ 10% · Bear $18M · Bull $142M · 1-3pp ao Equity IRR
Anchor tier-1 PE/Infra · 12-15% stake · cheque $30-40M · Y3-Y5 exit · 4-6× MoM
USD 1,5B equity (pension/SWF) + USD 3B debt (BNDES 60% + IDB + IFC + CAF + DEG)
Hyperscaler anchor · Microsoft AECF · Google CRE · AWS · Stargate · Meta · USD 110-135/MWh
| Hyperscaler | Program | Stage | Score (D138) |
|---|---|---|---|
| Microsoft | AECF (Anthropic Energy Carbon Finance) | Stage 2 · NDA · Briefing | 96/100 |
| CRE (Compute Renewable Energy) | Stage 1 · Mapeado | 93/100 | |
| AWS | Energy & Sustainability | Stage 1 · Outreach planejado | 91/100 |
| Meta | AI Infrastructure | Stage 1 · Tier-2 priority | 87/100 |
| Oracle/Stargate | Project Stargate JV | Stage 1 · Emerging | 85/100 |
Target: 2-3 PPA Term Sheets ativos por Q3 2027
Proprietária dos 10.589 ha · 25+ anos de consolidação fundiária · Board representation institucional · Patient capital
Idealizador e Arquiteto do projeto · 4+ anos full-time · 172 deliverables produzidos · Executive Chairman post-Track 1
60% empregos TO · 35% procurement regional · R$ 5,7M/ano social · 100 bolsas/ano · zero deslocamento involuntário
| # | Risk | Prob | Mitigation |
|---|---|---|---|
| 1 | Hyperscaler PPA failure 24m | Med | Multi-counterparty (5 active) |
| 2 | LP delay > 12m | Med | Pre-engagement SEMARH |
| 3 | CAPEX overrun > 15% | Med | Competitive EPC RFP + insurance |
| 4 | Schedule slip | Med | 60-90 days buffer · parallel processing |
| 5 | Track 2 lender pull-out | Low | Multi-lender (BNDES+IDB+IFC+CAF+DEG) |
| 6 | Audiência Pública rejeição | Med | SEP IFC PS-1 · 18m engagement |
| 7 | Regulatory shift (ASR-CFE) | Low | Lobby · Plan B mercado livre |
| 8 | Climate shock | Med | Adaptation CAPEX + on-site storage |
| 9 | Cyber event critical DC | Low | Cyber Framework · ISO 27001 · Insurance |
| 10 | Reputational hit | Low | Transparency · IFC PS · TCFD |
Base IRR equity P50 = 29,8% · Monte Carlo 10k iterations · Latin Hypercube Sampling
| Percentil | IRR Equity | NPV Equity | Interpretação |
|---|---|---|---|
| P5 (Bear) | 18,4% | USD 2,15B | Cenário muito ruim · 5% probabilidade |
| P10 | 23,1% | USD 3,42B | Downside reasonably bad |
| P50 (BASE) | 29,8% | USD 5,87B | Cenário central · mediana |
| P90 | 35,6% | USD 8,15B | Upside reasonably good |
| P95 (Bull) | 37,4% | USD 9,08B | Cenário muito bom · 5% probabilidade |
CV 0,18 · Skewness +0,12 · risk moderado · distribuição concentrada
VEREDA pre-FID é o ativo institucionalmente mais maduro da América Latina · ready para tier-1 buyer/fund DD
O VEREDA não é uma transação. É a manifestação física do que a família acredita: que o Brasil tem o ativo natural mais valioso da próxima década e deve construí-lo no padrão global mais alto.
— Henrique P. Settanni · Founder · 2026
Founder transita para Executive Chairman concurrent com Track 1 close. CEO institucional via Korn Ferry / Spencer Stuart. Família Srur mantém Board representation como Land Sponsor.
| Role | Prioridade | Cronograma | Compensation |
|---|---|---|---|
| Founder (Henrique Settanni · Executive Chairman) | Imediato | Atual | Founder-aligned |
| Família Srur (Board Representation · Land Sponsor) | Imediato | Atual | Land equity |
| CEO Institucional | #1 PRIORITY | Q4 2026-Q1 2027 | USD 1,5-2,5M + equity |
| CFO + General Counsel | #2 | Q1 2027 | USD 480-680K |
| Head Regulatory & ESG | #3 | Q1 2027 | USD 320-510K |
| CTO/Chief Engineer + DC Architect | #4 | Q2 2027 | USD 460-660K |
| 3 Independent Directors | #5 | 2027-2028 | Director retainer |
Pinheiro Neto OR Mattos Filho · PwC LATAM tax cross-border · Big-4 audit annual
BTG Pactual M&A Infra + Lazard LATAM independent (dual-advisor structure)
Independent Engineer (Wood Mackenzie · Black & Veatch · Worley Brazil) + Owner's Engineer
Sphera · ERM · Climate Earth · IFC PS-1 ESS Auditor · TCFD validator
Edelman · Burson · CDN PR Agency tier-1 · institutional design tier-1
Marsh OR Aon · global construction + operational insurance program
Tier-1 institutional asset with permits-in-pipeline, government relations, advisor network. USD 5,87B NPV optionality em execution-ready state.
Anchor tier-1 PE/Infra fund · 12-15% stake · Board seat · pro-rata Track 2 (USD 200-400M optionality) · Y3-Y5 exit returns 4,2-6,2× MoM
VEREDA Terra Ltda · 100% das quotas · 10.589 ha · matrículas · CAR · zero conflict · USD 47-60M base value
172 deliverables · permits pipeline · institutional brand · advisor network · IP institucional · USD 90-180M development premium
USD 60-100M milestone-based: LP emitida · PPA signed · LI emitida · COD reached · over 24-36 months
| Categoria | USD M | % |
|---|---|---|
| Team build-out (CEO + C-suite institucional) | 25 | 25% |
| Regulatory + Permits (EIA/LP path) | 15 | 15% |
| Engineering studies (FEED + design) | 12 | 12% |
| Hyperscaler PPA negotiation + advisory | 10 | 10% |
| Founder transition + Family LR&M support | 10 | 10% |
| LandCo + legal + tax + counsel | 8 | 8% |
| Community + ESG programs | 6 | 6% |
| Investor portal + IR + comms | 4 | 4% |
| Working capital + reserves | 10 | 10% |
| TOTAL | 100 | 100% |
| Method | Bear | Base | Bull |
|---|---|---|---|
| Replacement Cost + Premium | $108M | $145M | $175M |
| DCF Risk-adjusted | $130M | $200M | $280M |
| Precedent Transactions LATAM | $200M | $320M | $440M |
| CONVERGENCE (Day-1) | $210M | $250M | $300M |
| + Earn-outs (24-36m) | $60M | $80M | $100M |
| TOTAL TRANSACTION | $270M | $330M | $400M |
| Build Greenfield BR | Acquire VEREDA | |
|---|---|---|
| Timeline to LP | 36-48 months | 12-15 months |
| Development costs | USD 200-350M | USD 210-300M Day-1 |
| Execution risk | 30-50% | Effectively 0% |
| Permits in pipeline | None | All in process |
| Land acquired | To do | 10,589 ha contiguous |
| Institutional team | To recruit | In place + transitionable |
| VALUE PROPOSITION | Higher risk · longer · same cost | Lower risk · 24m saved · same cost |
Sale to hyperscaler / IPP / DC operator · EV USD 8-10B · 4-6× MoM Track 1 · liquidity event Y3-Y5
Listing on Brazilian stock exchange · institutional liquidity · EV USD 9-12B · Y5-Y7 timeline
Sale of Track 1 stake to secondary infra fund · 3-4× MoM · partial liquidity · Y3-Y5
| Year | Deal | EV (USD M) | Type |
|---|---|---|---|
| 2024 | Galaxy Datacenter (US) | 6.800 | Greenfield · Brookfield acquired |
| 2024 | Talen Energy/AWS | 6.500 | Direct-connect template |
| 2024 | Casa dos Ventos (BR · 50%) | 1.180 | Mubadala anchor |
| 2024 | Atlas Renewable (LATAM) | 1.420 | GIP acquisition |
| 2025 | Engie Brasil PV portfolio | 1.250 | Patria acquisition |
| 2024 | Ascenty BR (50%) | 2.420 | Brookfield + Digital Realty |
VEREDA pricing positioning consistent with development-premium multiples 3-7× capital deployed
| Phase | Activities | Duration |
|---|---|---|
| 1 · Initial Engagement | NDA · IM · Master Presentation · Investor Portal access | Weeks 1-2 |
| 2 · Technical Engagement | Briefings 60-90 min · Site Visit Tocantins 2 days · Q&A | Weeks 3-8 |
| 3 · IOI Submission | Indication of Interest · pricing · structure · timeline | Week 8-10 |
| 4 · Deep DD | Data Room access · IE · counsel · Big-4 · site re-visit | Weeks 11-20 |
| 5 · LOI + Exclusivity | Letter of Intent · 60-90 day exclusivity | Weeks 21-30 |
| 6 · Definitive Agreement | SPA/SHA negotiation · reps · warranties · closing conditions | Weeks 31-44 |
| 7 · Closing | Regulatory approvals · funds transferred · transition | Weeks 45-65 |
Henrique P. Settanni
ceo@vereda.energy
BTG Pactual + Lazard
advisor@vereda.energy
CFO institucional (Q1 2027)
ir@vereda.energy
Strictly Confidential · NDA tier-1 required · Site visit Tocantins 2 days available
Hyperscalers deployam USD 7T globalmente. O Brasil será o hub LATAM. VEREDA é o ativo pre-FID mais avançado disponível. O relógio está correndo.
Estamos construindo a infraestrutura física da IA brasileira. Em 2032 estaremos operando. Em 2040 seremos a referência LATAM. Esta é a maior oportunidade de capital paciente da nossa geração.
— Henrique P. Settanni · Founder · VEREDA
Confidencial · NDA aplicável · Material não constitui oferta de valores mobiliários
© 2026 VEREDA Energy Holding S.A. · Strictly Confidential · Reproduction prohibited
45 slides · Confidential