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3 .Project Solar PV Model
3 .Project Solar PV Model
Bid Assumptions
Start Date Date 1-Apr-13
Time to Commission Months 6
COD Date 1-Oct-13
Capacity MW 1
Project Cost
Land cost INR Million 0.00
Module Costs INR Million 43.00
Other Costs INR Million 26.58
Others INR Million 0.00
Development + Others INR Million 3.00
IDC INR Million 0.58
Total Project Cost INR Million 73.16
INR Million/MW 73.16
Loan Ratios
Rupee Term Loan 100.00%
Foreign Currency Loan 0.00%
Total 100.00%
Depreciation Assumptions
Book Depreciation % 5.28%
Depreciable Asset % 95%
Full Operation
Gross CUF % 17.5%
Losses within the Plant % 1.0%
Net CUF % 17.3%
Derating per Annum % 0.8%
Derating start year Years 2
O&M Cost
Base Year Ratio of EPC Cost % 1.00%
Base Year O&M Cost INR Million 0.73
Annual Escalation in O&M Cost % 5.00%
Working Capital
OM Expenses Months 1
Maintenance Spares (% of OM Expenses) % 15%
Receivables Months 2
Offtake assumption
Base Tariff Rs per Kwh 7.00
Escalation % 5.0%
CDM
CER Price Euro 2
INR 0
Delay in CDM Revenue Years 2
CDM available till Year 2020
CDM Zone South
CDM Factor 0.90
CDM Sharing
Starting developer share % 100%
Decrease in Developer share per annum % 10%
Minimum developer share % 50%
Tax
Corporate Tax rate % 32.75%
MAT rate % 0.00%
Is 80IA applicable ? 0
80IA Benefit Start year (Year from COD) Year 1
1 Equal
0 Structured
Crystalline
Thin film a-Si Equity
Thin film cDTe BG
Thin film CIGS
NEWNE 0.94
South 0.90
Switch
SLM
SLM
WDV
SLM
Author:
You may consider 100%
here
Start
Construction start date 1-Apr-13
COD 1-Oct-13
Month Start Date 1-Apr-13
Month ending date 30-Apr-13
No of Days 30
Financial Year 2014
Construction Status 1
10%
Construction Cost Phasing: 10%
Financing :
Upfront Equity
as a % of total equity % 100%
Upfront Equity Rs Million 21.9
Corresponding debt available Rs Million 51.2
Funding Requirement
Capital Cost Rs Million 73.2 14.52
Upfront equity available Rs Million 21.95
Upfront equity utilized Rs Million 14.52
To be funded after upfront equity Rs Million -
Initial Debt available Rs Million 51.21
Initial Debt utilized Rs Million -
To be funded Rs Million -
Equity Drawdown
Opening Balance Rs Million -
Addition Rs Million 21.9 14.52
Closing Balance Rs Million 14.52
Debt Drawdown
Opening Balance Rs Million -
Addition Rs Million 51.21 -
Closing Balance Rs Million -
Funding Check OK
Exim Loan
Percentage of Total Debt % 0%
Opening Loan Amount Rs Million -
Addition Rs Million -
Closing Loan Amount Rs Million -
Annual Interest Rate % 0.00%
IDC -
COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0
Debt Calculations:
Repayment Schedule:
- - - - - - - -
- 8.60 - 12.90 - 4.30 - 4.30
- 5.92 - 8.87 - 2.96 2.96 2.96
- 0.04 0.07 0.19 0.29 - - -
- 14.55 0.07 21.96 0.29 7.26 2.96 7.26
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0 1 1 1 1 1 1 1
182 365 366 365 365 365 366 365
- 48.66 43.54 38.41 33.29 28.17 23.05 17.93
51.21 - - - - - - -
2.55 5.12 5.12 5.12 5.12 5.12 5.12 5.12
48.66 43.54 38.41 33.29 28.17 23.05 17.93 12.81
0 0 0 0 0 0 0 0
0 182 366 365 365 365 366 183
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
10%
- - - - - - - -
4.30 - - - - - - -
- - - - - - - -
- - - - - - - -
4.30 - - - - - - -
4.30 - - - - - - -
- - - - - - - -
- - - - - - - -
4.30 - - - - - - -
4.30 - - - - - - -
4.30 - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
1 1 1 1 1 1 1 1
365 365 183 0 0 0 0 0
12.81 7.69 2.57 0.01 0.01 0.01 0.01 0.01
- - - - - - - -
5.12 5.12 2.56 - - - - -
7.69 2.57 0.01 0.01 0.01 0.01 0.01 0.01
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
0 0 0 0 0 0 0 0
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
- - - - - - - -
- - - - - - - -
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
1
0
0.01
-
-
0.01
0.00
0
0
-
-
-
-
-
0.00
0.00
0.01
Err:522
Err:522
Err:522
Err:522
Err:522
0.00%
-
0.00%
-
0.00%
-
0.00%
-
1-Apr-45 1-Apr-46 1-Apr-47 1-Apr-48 1-Apr-49 1-Apr-50 1-Apr-51
31-Mar-46 31-Mar-47 31-Mar-48 31-Mar-49 31-Mar-50 31-Mar-51 31-Mar-52
0 0 0 0 0 0 0
2046 2047 2048 2049 2050 2051 2052
0 0 0 0 0 0 0
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0
Capital Structure:
Book Depreciation
Depreciation Rate % 5.28%
Maximum Permissible Depreciation % 95%
Gross Assets Rs Million 73 -
Depreciable Asset Rs Million 69 -
Depreciation Rs Million -
Accumulated Depreciation Rs Million -
Net Assets Rs Million -
Tax Depreciation
Applicable Depreciation Rate % 7.69% SLM
Maximum Permissible Depreciation % 100%
Gross Assets Rs Million 73 -
Depreciable Asset Rs Million 73 -
Depreciation Rs Million -
Accumulated Depreciation Rs Million -
Net Assets Rs Million -
Days of Operation - 1 0
Days of Operation - 2 0
Revenue:
Capacity MW 1
Gross CUF % 17.5%
Derating % 0.8%
Derating start Year Year 2
Tariff INR/Unit 7 -
Escalation % 5.0% -
Applicable tariff with escalation INR/Unit -
Expenses:
Working Capital:
OM Expenses Month 1
OM Expenses Rs Million -
Receivables Months 2
Receivables Rs Million -
Income Tax:
Business Losses
Opening BL Rs Million -
Addition Rs Million Err:522
Set Off Rs Million Err:522
Closing BL Rs Million Err:522
Unabsorbed Depreciation
Opening UD Rs Million -
Addition Rs Million Err:522
Set Off Rs Million Err:522
Closing UD Rs Million Err:522
MAT Calculations
Book Profits Rs Million Err:522
MAT Rate % 0.00%
MAT Rs Million Err:522
Is 80IA applicable 0
80IA Start Year 1 0
Tax Applicable 0
MAT Credit
Opening Balance Rs Million -
Additions Rs Million Err:522
Setoff Rs Million Err:522
Lapse Rs Million -
Closing Balance Rs Million Err:522
Tax Payable
MAT payable Rs Million Err:522
Corporate Tax Payable Rs Million Err:522
MAT Credit offset Rs Million Err:522
Effective Tax Payable Rs Million -
Effective Tax rate Err:522
DSCR:
Cash Available for Debt Service Rs Million Err:522
Debt Service Requirement Rs Million -
DSCR
IRR Calculation:
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - 7.92 -
- - - - - - - -
0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0 0 0 0 0 0 0 0
1 1 1 1 1 1 1 1
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
21.95 21.95 - - - - - -
0.01 - - - - - - -
- - - - - - - -
0.01 - - - - - - -
73.16 73.16 - - - - - -
69.50 69.50 - - - - - -
- - - - - - - -
69.50 69.50 - - - - - -
- - - - - - - -
73.16 73.16 - - - - -
73.16 73.16 - - - - -
- - - - - - -
73.16 73.16 - - - - -
- - - - - - -
183 183 0 0 0 0 0
182 0 0 0 0 0 0
1.53 0.77 - - - - -
1.28 0.64 - - - - -
0.01 0.01 - - - - -
1.27 0.63 - - - - -
28.60 14.28 - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
28.60 14.28 - - - - -
2.28 1.17 - - - - -
0.57 0.29 - - - - -
0.34 0.18 - - - - -
- - - - - - -
- - - - - - -
- - - - - - - -
3.20 1.64 - - - - -
- 7.26 - - - - -
0.19 0.10 - - - - -
0.34 0.18 - - - - -
4.77 2.38 - - - - -
5.30 2.65 - - - - -
5.08 5.30 - - - - -
0.22 (5.30) - - - - -
5.30 - - - - - -
1.27 1.32 - - - - -
0.05 (1.32) - - - - -
1.32 - - - - - -
3.81 3.97 - - - - -
0.16 (3.97) - - - - -
3.97 - - - - - -
0.48 0.24 - - - - -
28.60 14.28 - - - - -
- - - - - - -
(3.20) (1.64) - - - - -
Err:522 - - - - - -
- 7.26 - - - - -
- - - - - - -
(0.00) - - - - - -
(0.48) (0.24) - - - - -
Err:522 19.66 - - - - -
Err:522 19.66 - - - - -
- - - - - - -
Err:522 19.66 - - - - -
- - - - - - -
Err:522 19.66 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 19.66 - - - - -
Err:522 - - - - - -
0 0 0 0 0 0 0
1 1 0 0 0 0 0
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
Err:522 Err:522 - - - - -
0.00 - - - - - -
Err:522
Err:522 Err:522 - - - - -
Err:522 19.90 - - - - -
0.48 0.24 - - - - -
Err:522 Err:522 - - - - -
- - - - - - -
Err:522 - - - - - -
0.05 (1.32) - - - - -
- - - - - - -
Err:522 Err:522 - - - - -
Err:522 12.64 - - - - -
0.48 0.24 - - - - -
Err:522 Err:522 - - - - -
Err:522 - - - - - -
- - - - - - -
Err:522 Err:522 - - - - -
1-Apr-45 1-Apr-46 1-Apr-47 1-Apr-48 1-Apr-49 1-Apr-50 1-Apr-51
31-Mar-46 31-Mar-47 31-Mar-48 31-Mar-49 31-Mar-50 31-Mar-51 31-Mar-52
0 0 0 0 0 0 0
2046 2047 2048 2049 2050 2051 2052
0 0 0 0 0 0 0
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
COD 1-Oct-13
Project End Date 30-Sep-38
Year Start Date 1-Apr-12
Year ending date 31-Mar-13
No of Days 0
Financial Year 2013
Operations 0
Fixed Assets
Gross Fixed Assets Rs Million -
Less: Accumulated depreciation Rs Million -
Net Fixed Assets Rs Million -
Current Assets
Net Working Capital Rs Million -
Cash and Bank Balances Rs Million Err:522
Total Current Assets Rs Million Err:522
Shareholders' Funds
Share Capital Rs Million -
Retained Earnings Rs Million -
Reserves Rs Million Err:522
Total Shareholders' Funds Rs Million Err:522
(73.16) - - - - - - -
- - - - - - - -
(73.16) - - - - - - -
21.95 - - - - - - -
51.21 - - - - - - -
(2.55) (5.12) (5.12) (5.12) (5.12) (5.12) (5.12) (5.12)
0.73 0.80 0.07 0.07 0.07 0.07 0.08 0.08
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
(5.12) (5.12) (2.56) - - - - -
0.08 0.09 0.09 0.09 0.10 0.10 0.11 0.11
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0.12 0.12 0.13 0.13 0.14 0.14 0.15 0.16
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
28.60 14.28 - - - - - -
(3.20) (1.64) - - - - - -
(0.22) 5.30 - - - - - -
(0.00) - - - - - - -
(0.48) (0.24) - - - - - -
Err:522 - - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
- - - - - - - -
- 7.26 - - - - - -
- 7.26 - - - - - -
- - - - - - - -
- - - - - - - -
- - - - - - - -
0.16 (3.97) - - - - - -
Err:522 - - - - - - -
Err:522 (3.97) - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
28.60 14.28 - - - - - -
- - - - - - - -
28.60 14.28 - - - - - -
(3.20) (1.64) - - - - - -
Err:522 - - - - - - -
- 7.26 - - - - - -
Err:522 19.90 - - - - - -
- - - - - - - -
Err:522 19.90 - - - - - -
(0.48) (0.24) - - - - - -
Err:522 19.66 - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
73.16 73.16 - - - - - -
69.50 69.50 - - - - - -
3.66 3.66 - - - - - -
5.30 - - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 - - - - - -
21.95 21.95 - - - - - -
Err:522 Err:522 - - - - - -
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522 Err:522
0.01 - - - - - - -
- - - - - - - -
3.97 - - - - - - -
3.98 - - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
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- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -
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Err:522 Err:522 Err:522 Err:522
Err:522 Err:522 Err:522 Err:522 - - -
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -