132_Financial_Analysis_3 (1).xls

8/10/2019 132_Financial_Analysis_3 (1).xls

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Calculate Units

nstalled total cost17,400,000$ USD

30% Cost limit %3.10$ USD/Wdc

9,920,000$ USD

17,420,000$ USD

77% % US goods

31.04 USD/MWh

Fixed Array


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($3,000,000)

($2,000,000)

($1,000,000)

$0

$1,000,000

$2,000,000

$3,000,000

$4,000,000

$5,000,000

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27

US

Dollars

Project Year

Cash Flow


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Year 2009 2010 2011Project year 0 1 2Baseload power Rs/kWh 3.00 3.24 3.50

Peak power Rs/kWh 7.00 7.56 8.16MNRE/MERC tarriff Rs/kWh 15.00 15.00 15.00

PV Production kWh/year 0.00 5,606,400 5,578,368

kWh revenue India Incentive Tarrif (Rs) 84,096,000 83,675,520Commercial Tarrif (Rs) - -Total (Rs) 84,096,000 83,675,520

Terminal value - -Plant Construction (839,550,000)

GEF incentive Rs 241,250,000EXIM Debt Rs 517,409,840

Comm Debt 0Tata investment Rs 119,660,000EXIM Fee (38,769,840)

Comm Fee 0O&M Expense Rs (8,395,500) (9,067,140)EXIM Debt payments Rs (45,952,593) (45,952,593)

Comm debt payments Rs - -

Tata equity investment Rs (119,660,000)Cash Flow Rs (119,660,000) 29,747,907 28,655,787Cash Flow USD (2,480,000)$ 616,537$ 593,902$

Return on Investment 19.6%


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2012 2013 2014 2015 2016 2017 20183 4 5 6 7 8 9

3.78 4.08 4.41 4.76 5.14 5.55 6.00

8.82 9.52 10.29 11.11 12.00 12.96 13.9915.00 15.00 15.00 15.00 15.00 15.00 15.00

5,550,476 5,522,724 5,495,110 5,467,635 5,440,296 5,413,095 5,386,029

83,257,142 82,840,857 82,426,652 82,014,519 81,604,447 81,196,424 80,790,442- - - - - - -

83,257,142 82,840,857 82,426,652 82,014,519 81,604,447 81,196,424 80,790,442

- - - - - - -

(9,792,511) (10,575,912) (11,421,985) (12,335,744) (13,322,603) (14,388,412) (15,539,485)(45,952,593) (45,952,593) (45,952,593) (45,952,593) (45,952,593) (45,952,593) (45,952,593)

- - - - - - -

27,512,038 26,312,352 25,052,075 23,726,182 22,329,250 20,855,420 19,298,365570,198$ 545,334$ 519,214$ 491,734$ 462,782$ 432,237$ 399,966$


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2019 2020 2021 2022 2023 2024 202510 11 12 13 14 15 16

6.48 6.99 7.55 8.16 8.81 9.52 10.28

15.11 16.32 17.63 19.04 20.56 22.21 23.9815.00 0.00 0.00 0.00 0.00 0.00 0.00

5,359,099 5,332,304 5,305,642 5,279,114 5,252,719 5,226,455 -

80,386,490 - - - - - -- 49,732,030 53,442,040 57,428,816 61,713,006 66,316,796 -

80,386,490 49,732,030 53,442,040 57,428,816 61,713,006 66,316,796 -

- - - - - 209,887,500 -

(16,782,643) (18,125,255) (19,575,275) (21,141,297) (22,832,601) (24,659,209) -(45,952,593) (45,952,593) (45,952,593) (45,952,593) (45,952,593) (45,952,593) -

- - - - - - -

17,651,254 (14,345,817) (12,085,828) (9,665,074) (7,072,188) 205,592,494 -365,829$ (297,323)$ (250,483)$ (200,312)$ (146,574)$ 4,260,984$ -$


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2026 2027 2028 2029 2030 2031 203217 18 19 20 21 22 23

11.10 11.99 12.95 13.98 15.10 16.31 17.61

25.90 27.97 30.21 32.63 35.24 38.06 41.100.00 0.00 0.00 0.00 0.00 0.00 0.00

- - - - - - -

- - - - - - -- - - - - - -- - - - - - -

- - - - - - -

- - - - - - -- - - - - - -

- - - - - - -

- - - - - - --$ -$ -$ -$ -$ -$ -$


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2033 2034 203524 25 26

19.02 20.55 22.19

44.39 47.94 51.770.00 0.00 0.00

- - -

- -- -- - -

- - -

- - -- - -

- - -

- - --$ -$ -$


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Design and Construction ($/Wdc)PV Module unit price 2.75$Array Structure and Wiring 0.20$Power Inverters 0.20$Plant planning costs, fees, permits 0.15$System Construction 0.20$

Total Capital Cost 3.50$

Finance and OperationCost of money (%/yr) 5%Annual O&M (% of capital cost) 0.5%

Plant Module DC to Inveter AC losses 80%Generation capacity factor 20.0%Annual Production (kWh/W) 1.40Annual plant cost ($/Wdc) $0.28Average kWh cost ($/kWh) $0.20

132_Financial_Analysis_3 (1).xls

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