The dilemma between being or seeming.

This paper examines the dilemma between being and seeming in the management and evaluation of wind farms, emphasizing how the financial sector often prioritizes superficial indicators over metrics that reveal the true value of assets. Using three years of operational data, it is shown that availability—traditionally used as a benchmark—does not correlate with actual energy generation. In contrast, effectiveness and technological reliability provide a more accurate view of performance by integrating both controllable and uncontrollable factors such as energy resources, grid constraints, and electrical efficiency. The concept of Adjustment Opportunity is introduced to quantify budget deviations and highlight its direct impact on financial returns (NPV and IRR). The conclusion is straightforward: basing investment decisions solely on the appearance of availability leads to asset overvaluation and long‑term erosion of trust. Only through robust indicators such as effectiveness and reliability can the true value of the energy transition be demonstrated.