Nuno Silva Email & Phone Number

- Responsible for entire Power value chain: Intraday Trading & Dispatching, Trading and Origination - Execute and negotiate medium and long-term power purchase agreements (wind, solar and hydro)- Pursue medium and long-term arrangements that maximize Galp’s returns whilst decreasing its value at risk (tolling agreements with CCGTs, options with dispatchable assets, technology swaps)- Work together with internal teams (Commercial and H2) to create of a competitive supply sourcing strategy- Responsible for the optimisation of the sale and purchase of electricity in spot markets, arbitraging between day-ahead, intraday, and ancillary services’ markets (Galp assets and external)- Co-design and implement optimal hedging strategies for power, GOs and EUAs volumes under management (including forward sales and purchases, futures, financial swaps, physical options and spreads)

Lisbon, Portugal

- Market fundamentals & dynamics: provide market analysis to support strategic decisions; contribute to the elaboration of in-house market intelligence, including future evolution of spot, forward and futures markets; anticipate and act quickly on market disruptions supporting portfolio optimization activities- Global understanding of energy markets: support individual business units in their geographical expansion by taking a first step in understanding market rules, supply/demand dynamics, regulatory framework and potential market entry strategies- Develop analytical tools to inform portfolio optimization, pricing and front office decisions- Quantify the impact and value of risk mitigating measures: hedging products and leveraging on Galp’s presence across the value chain of different products (supply and retail) - Support the structuring of energy management strategies- Contribute to Galp’s understanding of the regulatory framework underpinning the company’s operations across different products (Iberia and other geographies); quantify the impact that future regulatory changes may have in the value of Galp’s portfolio

- Portfolio analysis: manage the relevant data and analytics associated with the generation portfolio to understand asset correlations, risk exposures, and opportunities for investments/divestments- Market fundamentals & dynamics: provide market analysis to support strategic decisions; contribute to the elaboration of in-house market intelligence, including future evolution of spot, forward and PPA market; control value drivers of renewable generation assets and anticipate significant changes - Geographical expansion: understand market regulation and value drivers in countries outside of Iberia; assess and recommend different market entry strategies (greenfield, brownfield, auctions)- Electricity Dispatching: responsible for offers in OMIE and OMIP, the minimization of imbalance costs and the market clearance of dispatched energy either with own team or third parties; manage the processing of Guarantees of Origin ("Gdo")- New businesses: manage the internal build-up of knowledge covering additional revenue streams (e.g. ancillary services) and alternative business models (e.g. storage)

Madrid, Community Of Madrid, Spain

Madrid, Community Of Madrid, Spain

- Co-designed the 2020 Portuguese Solar auction with storage - Managed and led sell-side commercial DD on the 1.7GW Portuguese large hydro portfolio sold by EDP to an ENGIE-led consortium- Co-designed the 2019 Portuguese Solar PV auction which resulted in 1.15GW of capacity awarded under two different remuneration schemes- Managed and conducted the analysis that supported the company’s entrance in the Colombian market: wholesale electricity price drivers, hydro generation analysis, plant by plant bidding strategies (between others)- Led solar and wind valuations for several portfolios in Iberia (combined reported deal value of more than €4bn), including the calculation of future regulated revenues (Rinv and Ro in Spain and FiT in Portugal)- Elaborated the study underpinning the entry strategy of a major energy company in the Portuguese gas and electricity retail markets (wholesale considerations, market structure, regulatory analysis and market size and switching rates)- Author of the ‘Wholesale Electricity Price Projections for Portugal’ report

Oxford, England, United Kingdom

- Managed and conducted cogeneration due diligence including elaboration of business plan (valuation of steam, electricity produced and gas consumed – comparison between merchant acquisition and PPA)- Managed and valued thermal and hydro assets (~3GW) including assessment of multiple revenue streams - Market expert in two major buy side wind portfolio due diligences in Portugal (aggregate capacity of 1.6GW and reported investment of around €1.9bn)- Italy-France interconnector’s merchant revenue assessment- Market advisory in the scope of financing operations (participation in the lender’s market advisory of a 332MW offshore project in Germany, encompassing an amount of around €0.9bn)- Strategy development and execution: support on bidding strategy for 2014 CfD allocation round (client was successful in securing a contract)- Author of the ‘Wholesale Electricity Price Projections for Portugal’ report- Co-author of the ‘Wholesale Electricity Price Projections for Spain’ report

Londres, Reino Unido

- Development of financial models and business plans for portfolio valuations (internal and targets)- Analytical research and modelling support including competitor analysis and market reviews- Review of due diligence information on new projects- Assist in preparing presentations or bids- Performance analysis of portfolioSelected Transaction Experience - £0.6bn existing portfolio’s valuation:- Elaborated 2-statement operating model for the entire portfolio which encompassed 49 different assets. Valuation model included multiple scenarios depending on the (i) debt structure, (ii) amount of interest shielding, (iii) revenue forecast, (iv) generation, (v) operational costs, (vi) inflation and (v) WACC- Theorical calculation of WACC using comparable public companies to argue for higher portfolio valuation- Contributed to the write-up of the “Value Enhancement Initiatives” section of the fund’s Annual Report and Financial Statements for the year ended 30 June 2018

Lisboa E Região, Portugal

- Economic studies: market analysis and portfolio management - Regulatory Affairs: monitor, anticipate and analyse regulatory changes impacting the energy sector - Strategy: business environment analysis and report - Advisory to the CEO on renewable energy subjects (mainly wind)

Lisboa E Região, Portugal

- Strategic analysis of business environment (politics, socio-economics, competition screening of energy markets)- Economic Studies (market/competition analysis and portfolio management of RES)- Regulatory Affairs (monitoring and analysis of regulatory changes applied to the RES and development of mathematical models to assess the impact of those changes)

- Suppliers’ evaluation (creation of a data processing tool using VBA)- Analysis of malfunctions in electrical devices- Analysis and data processing using SAP

Porto E Região, Portugal

Master thesis: Hourly optimization of hydro resources’ management, using a Metaheuristic, in a market environment

Master Of Business Administration - Mba, Dean'S List (Top 5% Of Class)

Master'S Degree, Electrical And Computers Engineering

Business Economics

Business And Engineering