. Received preliminary project information and rough assessment
2. NDA countersigned before analysis on the IRR for project presentation of which including but not at least :
Project PPA capacity, payment method for PPA, the payment cycle and the currency of payment?
solar radiation resource data as kwh/square meter/year, FIT Price, corporate income tax, VAT, tax holiday, rough market price for leasing /buying a land, grid levels and grid frequency, financing cost, minimum equity ratio of the total project capex, restrictions on foreign investment, Equity ratio limit for foreign investment
3. Site investigation and due diligence based on accepted IRR and yield by financial model
4. Sign JV or cooperation agreement