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1MW Solar PV Templet Surendranagar Rev2 Realistic

The document is a financial analysis of a 1 MW solar PV power project in Surendranagar, Gujarat over a 25 year period. It projects the annual electricity generation, revenue from power sales, revenue from carbon credits, operating expenses, interest payments, depreciation, equity returns and loan repayment schedule. The analysis estimates strong financial performance for the project over its lifetime.

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175 views2 pages

1MW Solar PV Templet Surendranagar Rev2 Realistic

The document is a financial analysis of a 1 MW solar PV power project in Surendranagar, Gujarat over a 25 year period. It projects the annual electricity generation, revenue from power sales, revenue from carbon credits, operating expenses, interest payments, depreciation, equity returns and loan repayment schedule. The analysis estimates strong financial performance for the project over its lifetime.

Uploaded by

mysoulfrnd5208
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as XLS, PDF, TXT or read online on Scribd
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Financial Analysis 15-Jun-10

1 x 1000 kWac Output Grid Interactive Solar PV Power Project


at
Surendranagar - Gujarat Realistic Realistic

Sl N Units Generation Unit Yr-1 Yr-2 Yr-3 Yr-4 Yr-5 Yr-6 Yr-7 Yr-8 Yr-9 Yr-10 Yr-11 Yr-12 Yr-13 Yr-14 Yr-15 Yr-16 Yr-17 Yr-18 Yr-19 Yr-20 Yr-21 Yr-22 Yr-23 Yr-24 Yr-25
1) Installed Capacity MW 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0
2) Net Generation Available for sale MU 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1 2.1
3) Power Purchase Tariff (Single part) Rs /kWh 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 15.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.0
4) Power Sale revenue Rs Lakh 315 315 315 315 315 315 315 315 315 315 315 315 105 105 105 105 105 105 105 105 105 105 105 105 105
5) Carbon Emission Saved @ 0.9 kg/kWh tCO2 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9
6) Total Carbon Credit Eligibility @ Rs 1/kg CO2 saved ~ Rs Lakh 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9 18.9
7) Developer's share of carbon credit Rs Lakh 17.0 15.1 13.2 11.3 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5 9.5

Tariff Components (Fixed charges) Unit Yr-1 Yr-2 Yr-3 Yr-4 Yr-5 Yr-6 Yr-7 Yr-8 Yr-9 Yr-10 Yr-11 Yr-12 Yr-13 Yr-14 Yr-15 Yr-16 Yr-17 Yr-18 Yr-19 Yr-20 Yr-21 Yr-22 Yr-23 Yr-24 Yr-25

8) O&M + Insurance Expenses Rs Lakh 12.8 13.4 14.1 14.8 15.5 16.3 17.1 17.9 18.8 19.8 20.8 21.8 22.9 24.0 25.2 26.5 27.8 29.2 30.7 32.2 33.8 35.5 37.3 39.2 41.1
9) Interest on term loan Rs Lakh 105 105 105 91.9 78.8 65.7 52.6 39.5 26.4 13.3 0.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0
10) Interest on working Capital Rs Lakh 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3 3
11) Depreciation Rs Lakh 90 90 90 90 90 90 90 90 90 90 90 90 3 3 3 3 3 3 3 3 3 3 3 3 3
12) Return on Equity Rs Lakh 62 62 62 62 62 62 62 62 62 62 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
13) Total Fixed Cost Rs Lakh 272.8 273.4 274.1 261.7 249.3 237.0 224.7 212.4 200.2 188.1 114.0 114.8 28.9 30.0 31.2 32.5 33.8 35.2 36.7 38.2 39.8 41.5 43.3 45.2 47.1

Term Loan
14) Outstanding Amount at the beginning the year Rs Lakh 1050.00 1050.00 1050.00 918.00 786.00 654.00 522.00 390.00 258.00 126.00
15) Debt Repayment Installment Rs Lakh 0.00 0.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00 132.00
16) Outstanding at the end of the year Rs Lakh 1050.00 1050.00 918.00 786.00 654.00 522.00 390.00 258.00 126.00 -6.00

Per Unit Tariff components (Fixed) Unit Yr-1 Yr-2 Yr-3 Yr-4 Yr-5 Yr-6 Yr-7 Yr-8 Yr-9 Yr-10 Yr-11 Yr-12 Yr-13 Yr-14 Yr-15 Yr-16 Yr-17 Yr-18 Yr-19 Yr-20 Yr-21 Yr-22 Yr-23 Yr-24 Yr-25

17) PU O&M + Insurance Expenses Rs/kWh 0.61 0.64 0.67 0.70 0.74 0.77 0.81 0.85 0.90 0.94 0.99 1.04 1.09 1.14 1.20 1.26 1.33 1.39 1.46 1.53 1.61 1.69 1.78 1.86 1.96
18) PU Interest on term loan Rs/kWh 5.00 5.00 5.00 4.38 3.75 3.13 2.50 1.88 1.26 0.63 0.01 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
19) PU Interest on working Capital Rs/kWh 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
20) PU Depreciation Rs/kWh 4.29 4.29 4.29 4.29 4.29 4.29 4.29 4.29 4.29 4.29 4.29 4.29 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14 0.14
21) PU Return on Equity Rs/kWh 2.95 2.95 2.95 2.95 2.95 2.95 2.95 2.95 2.95 2.95 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
22) PU Tariff Components (Fixed) Rs/kWh 12.99 13.02 13.05 12.46 11.87 11.28 10.70 10.12 9.54 8.96 5.43 5.47 1.38 1.43 1.49 1.55 1.61 1.68 1.75 1.82 1.90 1.98 2.06 2.15 2.24
23) PU Tariff Components (Variable) Rs/kWh Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil Nil
24) PU Tariff Components (Total) Rs/kWh 12.99 13.02 13.05 12.46 11.87 11.28 10.70 10.12 9.54 8.96 5.43 5.47 1.38 1.43 1.49 1.55 1.61 1.68 1.75 1.82 1.90 1.98 2.06 2.15 2.24
25) Net Tariff excluding Return on Equity (RoE) Rs/kWh 10.04 10.07 10.10 9.51 8.92 8.33 7.75 7.16 6.58 6.00 5.43 5.47 1.38 1.43 1.49 1.55 1.61 1.68 1.75 1.82 1.90 1.98 2.06 2.15 2.24
26) Net Tariff excluding Return on Equity (RoE) & Dep. Rs/kWh 5.75 5.78 5.81 5.22 4.63 4.05 3.46 2.88 2.30 1.72 1.14 1.18 1.23 1.29 1.34 1.41 1.47 1.53 1.60 1.68 1.75 1.83 1.92 2.01 2.10

27) PU Contribution corresponding to Installment Rs/kWh Nil Nil 6.29 6.29 6.29 6.29 6.29 6.29 6.29 6.29 0.00 0.00
Realistic Realistic

28) Total Effective Cost of Generation Rs/kWh 5.75 5.78 12.10 11.51 10.92 10.33 9.75 9.16 8.58 8.00 1.14 1.18 1.23 1.29 1.34 1.41 1.47 1.53 1.60 1.68 1.75 1.83 1.92 2.01 2.10
29) Total Gross Margin per kWh sold Rs/kWh 9.25 9.22 2.90 3.49 4.08 4.67 5.25 5.84 6.42 7.00 13.86 13.82 3.77 3.71 3.66 3.59 3.53 3.47 3.40 3.32 3.25 3.17 3.08 2.99 2.90
30) Gross EBPIDTA Rs Lakh 194.25 193.61 60.94 73.34 85.70 98.03 110.31 122.56 134.76 146.92 291.03 290.19 79.10 77.96 76.76 75.49 74.17 72.78 71.32 69.78 68.17 66.48 64.70 62.84 60.88

31) Net Income (Electricity + Carbon Credit) (4) + (7) Rs Lakh 332.01 330.12 328.23 326.34 324.45 324.45 324.45 324.45 324.45 324.45 324.45 324.45 114.45 114.45 114.45 114.45 114.45 114.45 114.45 114.45 114.45 105.00 105.00 105.00 105.00

32) Net Expenditure


.1 [(8)+(9)+(10)+(15) w/o depreciation and Return on Equity (RoE)] Rs Lakh 120.75 121.39 254.06 241.66 229.30 216.97 204.69 192.44 180.24 168.08 37.83 38.63 29.66 30.75 31.90 33.10 34.36 35.69 37.08 38.54 40.08 41.69 43.38 45.15 47.02

33) Excess of Income over expenditure (Cash accrual) Rs Lakh 211.26 208.73 74.17 84.68 95.15 107.48 119.76 132.01 144.21 156.37 286.62 285.82 84.79 83.70 82.55 81.35 80.09 78.76 77.37 75.91 74.37 63.31 61.62 59.85 57.98

34) Cumulative Cash Reserve Rs Lakh 211.26 419.99 494.17 578.85 674.00 781.48 901.24 1033.25 1177.46 1333.83 1620.45 1906.28 1991.07 2074.76 2157.31 2238.66 2318.75 2397.51 2474.88 2550.79 2625.16 2688.47 2750.10 2809.94 2867.92

35) Avarage Cost of Generation Over 25 years Rs/kWh 5.83

Levellised Tariff Unit Yr-1 Yr-2 Yr-3 Yr-4 Yr-5 Yr-6 Yr-7 Yr-8 Yr-9 Yr-10 Yr-11 Yr-12 Yr-13 Yr-14 Yr-15 Yr-16 Yr-17 Yr-18 Yr-19 Yr-20 Yr-21 Yr-22 Yr-23 Yr-24 Yr-25
36) Discount Factors 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10% 10%
37) Discounted Tariff components (fixed) Rs/kWh

38) Discounted Tariff components (variable) Rs/kWh

39) Discounted Tariff components (total) Rs/kWh

40) Levellised Tariff (fixed) Rs/kWh

Levellised Tariff (variable) Rs/kWh


41)
44) Levellised Tariff (total) Rs/kWh

Note: 1 Lakh = 0.1 million


* Figure Revised SL No 29) (P45-AB45) in sky blue colour = 100,000

1 crore = 10 million
= 100 lakh
MU = million (kWh) units

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