Hydropower Due Diligence Consultant

Company Description

Nyota is an independent international consulting firm focused on cross-border investment, financing and advisory services. Founded in 2022 with dual headquarters in Beijing and Singapore, Nyota supports Chinese enterprises investing and raising capital overseas, and helps international project sponsors secure financing from Chinese financial institutions. The firm works across energy and power, telecommunications and infrastructure in more than 50 markets, providing integrated support across the full project lifecycle. Core services include investment banking and project finance advisory, supply chain finance, feasibility memoranda, and insurance, market and technical advisory. Backed by partnerships with over 20 Chinese financial institutions, ECAs and insurers, and a senior team with extensive experience, Nyota specializes in structuring bankable projects and guiding them to financial close.

Role Description

Nyota is seeking an experienced Brazil-based hydropower expert or consulting team to act as Technical Advisor on a buy-side technical due diligence (TDD) for an international investor acquiring a minority equity stake in an operating hydropower plant in Brazil. The plant operates under a concession, sells energy under both the quota regime (RAG) and the free market (ACL), and has newly awarded capacity, with expansion works starting in 2026. This is a fixed-term contract engagement from late October to the end of December 2026. The first draft report is due in November 2026 and the final report in December 2026. The work is mainly remote and includes a site visit to the plant. Work will be based on the data room, the plant’s operating records, and public ONS and CCEE data and official NEWAVE/DECOMP decks.

Scope of Work

1.Generation verification and forecast

• Verify hydrology (runoff, rainfall) since 2018 and forecast annually, including wet and dry season effects.
• Verify historical generation, load curves, reliability indicators, utilization hours and generator stability since COD, and forecast them (monthly at minimum; finer resolution preferred).
• Build P50, P75 and P90 generation and load factor scenarios, covering assured energy (garantia física), losses, metering, applicable tariffs, grid dispatch impact and compensation for dispatch-related losses.
• Verify the current GSF and forecast future adjustments. Quantify the impact of each 1% GSF reduction on contracted energy, MRE allocation and sellable ACL energy.
• Analyze 5 years of historical spillage and curtailment and their causes (reservoir and flood control operation, minimum flow, unit unavailability, constrained-off including wind/solar priority and transmission limits), and the compensation received.
• Verify turbine and generator efficiency curves and aging degradation, and quantify generation gains from the retrofit to be completed in 2029.
• Reconcile ONS metered data, CCEE settlement data and company reports, and assess losses and metering calibration.
• Deliver annual and monthly series ready for import into the valuation model, with a P50/P75/P90 scenario matrix that interfaces with the RAG/ACL revenue model.

2.CAPEX, OPEX and O&M

• Review historical CAPEX and OPEX and forecast them annually.
• Assess O&M capability and the spare parts inventory.

3.Newly awarded capacity expansion

• Assess technical feasibility and compliance: equipment procurement, technical solution, land, grid connection, environmental licensing, permits and key EPC contracts.
• Assess the impact on CAPEX, OPEX and future revenue cash flows.
• Assess completion risk, including the likelihood of delays, cost overruns or non-performance, and the potential losses.

4.Concession and PPA review

• Review the concession and PPA contracts and flag key risks.
• Assess new commercial PPA opportunities and the reasonable share of ACL energy that can be contracted, given supply obligations.

Qualifications

• Proven track record in technical due diligence, Independent Engineer or Lender’s Engineer work on hydropower assets in Brazil.
• Strong knowledge of the Brazilian power sector: ANEEL, ONS, CCEE, the MRE, GSF, assured energy, the RAG quota regime and ACL/ACR markets.
• Hands-on experience with energy yield and hydrological modeling, including NEWAVE/DECOMP (a licence or legitimate access to the official decks is preferred), and P50/P75/P90 analysis.
• Experience assessing hydro plant equipment (turbines, generators, efficiency and refurbishment), O&M, and CAPEX/OPEX benchmarks.
• Experience assessing construction and expansion risk, EPC contracts and environmental licensing.
• Ability to produce clear, bankable reports in English and model-ready data outputs within tight transaction timelines.
• Fluent English required. Portuguese is required for working with local data and stakeholders. Chinese is a plus.
• Degree in Civil, Electrical or Mechanical Engineering, Hydrology, or a related field.

How to Apply

Individual experts and specia