Assumption Unit = KWh

Financial Year
Operational Year

Annual Production and Sales in Unit (KWh)

Sales Price
Selling Price per Unit INR/Unit
Escalation in Price from second year %
(0.70% of Capital Cost
YoY price of Units sold INR/Unit

Cost of Production

Cost of Production per Unit ( KWh ) INR/Unit

Operation & Maintenance INR/Unit
Water 25000 Litres per day INR/Unit

Cost of Production per Unit ( KWh ) INR/Unit

Operation & Maintenance

Total… 12.32%

Other Parameters
Financial ( Capital cost not more than 4.54cr
Debt %
Equity %

Tenure of Loan Years

Interest Rate %

Depreciation
Machinery %
Plant %
Weighted Average Depreciation Rate %
After 13 years onwards
Taxation
Applicable Tax Rate on Income %
Tax Holiday for project 1= Yes 0= No
Tax Holiday Years
Corporate Tax 1.25%
 2025 2026 2027 2028 2029
1 2 3 4 5

81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00

1,639,872,000.00

2.2500 2.25 2.25 2.25 2.25

5.72%

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

3,689,712,000.00

Cost of Production Escalation %

0.10000 5.72%
0.30000 5.72%

0.10000 0.10572 0.11177 0.11816 0.12492

0.30000 0.31716 0.33530 0.35448 0.37476

0.40000 0.42288 0.44707 0.47264 0.49968

70%
30%

8
9%

Weights
5.83% 0%
5.83% 100%
 5.83%
2.51%

33.99%
0
25
 2030 2031 2032 2033 2034
6 7 8 9 10

81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00

2.25 2.25 2.25 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

0.13206 0.13962 0.14760 0.15605 0.16497

0.39619 0.41886 0.44281 0.46814 0.49492

0.52826 0.55847 0.59042 0.62419 0.65989

 2035 2036 2037 2038 2039
11 12 13 14 15

81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00

2.25 2.25 2.25 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

0.17441 0.18439 0.19493 0.20608 0.21787

0.52323 0.55316 0.58480 0.61825 0.65361

0.69764 0.73755 0.77973 0.82433 0.87149

 2040 2041 2042 2043 2044
16 17 18 19 20

81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00 81,993,600.00

2.25 2.25 2.25 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

0.23033 0.24351 0.25744 0.27216 0.28773

0.69100 0.73053 0.77231 0.81649 0.86319

0.92133 0.97403 1.02975 1.08865 1.15092

PROJECTIONS FOR CLOSED LOOP HYDRO POWER PLANT
COST PER MEGAWATT IS 127,500,000.00
COST OF PROJECT FOR 10.4 MW INSTALLED CAPACITY 10.4

Sr. No. Particulars Amount INR

1 Land Acquisition 1000 Square meter per Mega watt INR 8,500,000.00
10000 Sq.Mtr Land required for 10.4 Mw Module, Land price is approx
2 Plant and Machinery INR 1,326,000,000.00
3 Working Capital INR 0.00
4 Financing Cost INR 0.00
5 Interest During Construction INR 0.00
Total INR 1,334,500,000.00

MEANS OF FINANCE

Sr. No. Particulars Amount ( INR )

1 Equity INR 400,350,000.00
2 Debt INR 934,150,000.00
Total INR 1,334,500,000.00

Cost of installed capacity per MW 133,450,000.00

INR
Selling price per Unit Kwh up to 20 years 2.25
Levelized cost of 20 years , With Cost escalation 5.72% every year 1.49
Cost of Production 0.10000
Operation & Maintenance 0.30000
 Interest 9.00%
Weighted Average Depriciation Rate 5.83%
After 13 years onward Depriciation Rate 2.51%

Total Unitl sold per year 81,993,600.00

Total Unitl sold up to 20 years 1,639,872,000.00
Total Selling over the period of 20 years @ 0.05 US$ per Unit 3,689,712,000.00
EBT over the period of 20 years @0.03 49,196,160.00
Average Goss Gain 0.755
85 Xchange rate USD
Profit and Loss
Financial Year 2025 2026 2027
Operational Year 1 2 3

No of Units of sold Unit KWh 81,993,600.00 81993600 81993600

Price per Unit INR/Unit 2.25 2.25 2.25

Total Revenues INR 184,485,600.00 184,485,600.00 184,485,600.00

Cost of Unit Sold

Cost of Production per Unit ( KWh ) INR 8,199,360.00 8,668,363.39 9,164,193.78

Operation & Maintenance 24,598,080.00 26,005,090.18 27,492,581.33
Variable cost Water 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
Total 32,797,440.00 34,673,453.57 36,656,775.11
1,170,780,930.16
EBITDA 151,688,160.00 149,812,146.43 147,828,824.89
2,518,931,069.84
Depreciation 77,305,800.00 72,798,871.86 68,554,697.63
Interest 84,073,500.00 84,073,500.00 73,564,312.50
462,404,250.00
EBT -9,691,140.00 -7,060,225.43 5,709,814.76
Tax -3,294,018.49 -2,399,770.62 1,940,766.04
PAT -6,397,121.51 -4,660,454.81 3,769,048.72

Return On Equity -2.42 -1.76 1.43

Levellised Cost Year Prod+O&M+Depr+Int Total Kwh of 20 years Total Prod+O&M+Depr+Int
 2028 2029 2030 2031 2032 2033
4 5 6 7 8 9

81993600 81993600 81993600 81993600 81993600 81993600

2.25 2.25 0.05 0.05 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

9,688,385.66 10,242,561.32 10,828,435.83 11,447,822.36 12,102,637.80 12,794,908.68

29,065,156.99 30,727,683.97 32,485,307.49 34,343,467.08 36,307,913.39 38,384,726.04
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 0.00 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 0.00 0.00 0.00 0.00
38,753,542.65 40,970,245.29 43,313,743.32 45,791,289.44 48,410,551.19 51,179,634.72

145,732,057.35 143,515,354.71 141,171,856.68 138,694,310.56 136,075,048.81 133,305,965.28

64,557,958.76 60,794,229.76 57,249,926.17 53,912,255.47 50,769,170.98 47,809,328.31

63,055,125.00 52,545,937.50 42,036,750.00 31,527,562.50 21,018,375.00 10,509,187.50

18,118,973.59 30,175,187.45 41,885,180.51 53,254,492.59 64,287,502.83 74,987,449.47

6,158,639.12 10,256,546.21 14,236,772.86 18,101,202.03 21,851,322.21 25,488,234.07
11,960,334.47 19,918,641.24 27,648,407.66 35,153,290.56 42,436,180.62 49,499,215.39

4.53 7.54 10.46 13.30 16.06 18.73

&M+Depr+Int Project IRR
 2034 2035 2036 2037 2038 2039 2040
10 11 12 13 14 15 16

81993600 81993600 81993600 81993600 81993600 81993600 81993600

2.25 2.25 2.25 2.25 2.25 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

13,526,777.46 14,300,509.13 15,118,498.25 15,983,276.35 16,897,519.76 17,864,057.89 18,885,882.00

40,580,332.37 42,901,527.38 45,355,494.75 47,949,829.05 50,692,559.27 53,592,173.66 56,657,645.99
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 0.00 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 0.00 0.00 0.00
0.00 0.00 0.00 0.00 0.00 0.00 0.00
54,107,109.83 57,202,036.51 60,473,993.00 63,933,105.40 67,590,079.02 71,456,231.54 75,543,527.99

130,378,490.17 127,283,563.49 124,011,607.00 120,552,494.60 116,895,520.98 113,029,368.46 108,942,072.01

45,022,044.47 42,397,259.28 39,925,499.06 37,597,842.47 15,243,358.41 14,860,750.11 14,487,745.28

0.00 0.00 0.00 0.00 0.00 0.00 0.00

85,356,445.70 84,886,304.21 84,086,107.94 82,954,652.14 101,652,162.57 98,168,618.34 94,454,326.73

29,012,655.89 28,852,854.80 28,580,868.09 28,196,286.26 34,551,570.06 33,367,513.38 32,105,025.65
56,343,789.81 56,033,449.41 55,505,239.85 54,758,365.88 67,100,592.51 64,801,104.97 62,349,301.07

21.32 21.20 21.00 20.72 25.39 24.52 23.59

No EMI Depreciation 2.51
 2041 2042 2043 2044
17 18 19 20

81993600 81993600 81993600 81993600

2.25 2.25 2.25 2.25

184,485,600.00 184,485,600.00 184,485,600.00 184,485,600.00

19,966,154.45 21,108,218.48 22,315,608.58 23,592,061.39

59,898,463.34 63,324,655.45 66,946,825.74 70,776,184.17
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
0.00 0.00 0.00 0.00
0.00 0.00 0.00 0.00
79,864,617.79 84,432,873.93 89,262,434.32 94,368,245.56

104,620,982.21 100,052,726.07 95,223,165.68 90,117,354.44

14,124,102.88 13,769,587.89 13,423,971.24 13,087,029.56

0.00 0.00 0.00 0.00 462,404,250.00

90,496,879.33 86,283,138.18 81,799,194.45 77,030,324.88

30,759,889.29 29,327,638.67 27,803,546.19 26,182,607.43
59,736,990.05 56,955,499.51 53,995,648.25 50,847,717.45 817,755,241.11

22.60 21.55 20.43 19.24

 2.36819 2018 194,176,740.00 of 20 years of 20 years
2.33611 2019 191,545,825.43 1,639,872,000.00 2,450,876,609.74
2.18036 2020 178,775,785.24
2.02902 2021 166,366,626.41 1,238,835,390.26
1.88198 2022 154,310,412.55
1.73917 2023 142,600,419.49
1.60050 2024 131,231,107.41
1.46594 2025 120,198,097.17
1.33545 2026 109,498,150.53
1.20899 2027 99,129,154.30
1.21472 2028 99,599,295.79
1.22448 2029 100,399,492.06
1.49455 Avg. of 20 years 101,530,947.86
1.72 82,833,437.43
DSCR Debt Service Coverage Ratio 5.45 86,316,981.66
EBITDA 2,518,931,069.84 90,031,273.27
INTEREST 462,404,250.00 93,988,720.67
98,202,461.82
102,686,405.55
107,455,275.12
2,450,876,609.74
Average Operation & Maintenance Cost of 20 Years
878,085,697.62 3,689,712,000.00 23.80 %
cash flow
Financial Year 2025 2026
Operational Year 1 2

Cash Inflow

Equity 400,350,000.00
Debt 934,150,000.00
PAT -6,397,121.51 -4,660,454.81
Depreciation 77,305,800.00 72,798,871.86

Total 1,405,408,678.49 68,138,417.05

Cash Outflow

Land Acquisition 8,500,000.00

Plant & Machinery 1,326,000,000.00
Loan Repayment 0.00 116,768,750.00

Total 1,334,500,000.00 116,768,750.00

Opening Cash 0.00 70,908,678.49

Net Cashflow 70,908,678.49 -48,630,332.95
Closing Cash 70,908,678.49 22,278,345.54

Balance Sheet

Assets

Fixed Assets 1,334,500,000.00 1,334,500,000.00

Depreciation 77,305,800.00 150,104,671.86
Net Block 1,257,194,200.00 1,184,395,328.14

Cash Balance 70,908,678.49 22,278,345.54

Total 1,328,102,878.49 1,206,673,673.68

Liabilities

Equity 400,350,000.00 400,350,000.00

Reserves -6,397,121.51 -11,057,576.32

Loan 934,150,000.00 817,381,250.00

Total 1,328,102,878.49 1,206,673,673.68

Check 0 0
 2027 2028 2029 2030
3 4 5 6

3,769,048.72 11,960,334.47 19,918,641.24 27,648,407.66

68,554,697.63 64,557,958.76 60,794,229.76 57,249,926.17

72,323,746.35 76,518,293.23 80,712,871.00 84,898,333.82

116,768,750.00 116,768,750.00 116,768,750.00 116,768,750.00

116,768,750.00 116,768,750.00 116,768,750.00 116,768,750.00

22,278,345.54 -22,166,658.11 -62,417,114.88 -98,472,993.88

-44,445,003.65 -40,250,456.77 -36,055,879.00 -31,870,416.18
-22,166,658.11 -62,417,114.88 -98,472,993.88 -130,343,410.06

1,334,500,000.00 1,334,500,000.00 1,334,500,000.00 1,334,500,000.00

218,659,369.49 283,217,328.25 344,011,558.01 401,261,484.18
1,115,840,630.51 1,051,282,671.75 990,488,441.99 933,238,515.82

-22,166,658.11 -62,417,114.88 -98,472,993.88 -130,343,410.06

1,093,673,972.40 988,865,556.87 892,015,448.11 802,895,105.76

400,350,000.00 400,350,000.00 400,350,000.00 400,350,000.00

-7,288,527.60 4,671,806.87 24,590,448.11 52,238,855.76

700,612,500.00 583,843,750.00 467,075,000.00 350,306,250.00

1,093,673,972.40 988,865,556.87 892,015,448.11 802,895,105.76

0 0 0 0
 2031 2032 2033 2034
7 8 9 10

35,153,290.56 42,436,180.62 49,499,215.39 56,343,789.81

53,912,255.47 50,769,170.98 47,809,328.31 45,022,044.47

89,065,546.03 93,205,351.60 97,308,543.71 101,365,834.28

116,768,750.00 116,768,750.00 116,768,750.00 0.00

116,768,750.00 116,768,750.00 116,768,750.00 0.00

-130,343,410.06 -158,046,614.02 -181,610,012.43 -201,070,218.72

-27,703,203.97 -23,563,398.40 -19,460,206.29 101,365,834.28
-158,046,614.02 -181,610,012.43 -201,070,218.72 -99,704,384.44

1,334,500,000.00 1,334,500,000.00 1,334,500,000.00 1,334,500,000.00

455,173,739.65 505,942,910.63 553,752,238.94 598,774,283.41
879,326,260.35 828,557,089.37 780,747,761.06 735,725,716.59

-158,046,614.02 -181,610,012.43 -201,070,218.72 -99,704,384.44

721,279,646.32 646,947,076.94 579,677,542.34 636,021,332.14

400,350,000.00 400,350,000.00 400,350,000.00 400,350,000.00

87,392,146.32 129,828,326.94 179,327,542.34 235,671,332.14

233,537,500.00 116,768,750.00 0.00 0.00

721,279,646.32 646,947,076.94 579,677,542.34 636,021,332.14

0 0 0 0
 2035 2036 2037 2038
11 12 13 14

56,033,449.41 55,505,239.85 54,758,365.88 67,100,592.51

42,397,259.28 39,925,499.06 37,597,842.47 15,243,358.41

98,430,708.69 95,430,738.91 92,356,208.34 82,343,950.92

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

-99,704,384.44 -1,273,675.76 94,157,063.16 186,513,271.50

98,430,708.69 95,430,738.91 92,356,208.34 82,343,950.92
-1,273,675.76 94,157,063.16 186,513,271.50 268,857,222.42

1,334,500,000.00 1,334,500,000.00 1,334,500,000.00 1,334,500,000.00

641,171,542.69 681,097,041.75 718,694,884.22 733,938,242.62
693,328,457.31 653,402,958.25 615,805,115.78 600,561,757.38

-1,273,675.76 94,157,063.16 186,513,271.50 268,857,222.42

692,054,781.56 747,560,021.41 802,318,387.29 869,418,979.80

400,350,000.00 400,350,000.00 400,350,000.00 400,350,000.00

291,704,781.56 347,210,021.41 401,968,387.29 469,068,979.80

0.00 0.00 0.00 0.00

692,054,781.56 747,560,021.41 802,318,387.29 869,418,979.80

0 0 0 0
 2039 2040 2041 2042
15 16 17 18

64,801,104.97 62,349,301.07 59,736,990.05 56,955,499.51

14,860,750.11 14,487,745.28 14,124,102.88 13,769,587.89

79,661,855.08 76,837,046.36 73,861,092.92 70,725,087.41

0.00 0.00 0.00 0.00

0.00 0.00 0.00 0.00

268,857,222.42 348,519,077.50 425,356,123.85 499,217,216.78

79,661,855.08 76,837,046.36 73,861,092.92 70,725,087.41
348,519,077.50 425,356,123.85 499,217,216.78 569,942,304.18

1,334,500,000.00 1,334,500,000.00 1,334,500,000.00 1,334,500,000.00

748,798,992.73 763,286,738.01 777,410,840.89 791,180,428.78
585,701,007.27 571,213,261.99 557,089,159.11 543,319,571.22

348,519,077.50 425,356,123.85 499,217,216.78 569,942,304.18

934,220,084.77 996,569,385.84 1,056,306,375.89 1,113,261,875.40

400,350,000.00 400,350,000.00 400,350,000.00 400,350,000.00

533,870,084.77 596,219,385.84 655,956,375.89 712,911,875.40

0.00 0.00 0.00 0.00

934,220,084.77 996,569,385.84 1,056,306,375.89 1,113,261,875.40

0 0 0 0
 2043 2044
19 20

53,995,648.25 50,847,717.45
13,423,971.24 13,087,029.56

67,419,619.49 63,934,747.01

0.00 0.00

0.00 0.00

569,942,304.18 637,361,923.68
67,419,619.49 63,934,747.01
637,361,923.68 701,296,670.69

1,334,500,000.00 1,334,500,000.00
804,604,400.02 817,691,429.58
529,895,599.98 516,808,570.42

637,361,923.68 701,296,670.69

1,167,257,523.65 1,218,105,241.11

400,350,000.00 400,350,000.00
766,907,523.65 817,755,241.11

0.00 0.00

1,167,257,523.65 1,218,105,241.11

0 0
Depreciation
Financial Year 2025 2026 2027 2028 2029
Operational Year 1 2 3 4 5

Opening Balance 1,326,000,000.00 1248694200 1175895328 1107340631 1042782672

Depreciation 77,305,800.00 72798872 68554698 64557959 60794230
Closing Balance 1,248,694,200.00 1175895328 1107340631 1042782672 981988442

Loan
Opening Balance 934,150,000.00 934,150,000.00 817,381,250.00 700,612,500.00 583,843,750.00
Repayment 0.00 116,768,750.00 116,768,750.00 116,768,750.00 116,768,750.00
Closing Balance 934,150,000.00 817,381,250.00 700,612,500.00 583,843,750.00 467,075,000.00

Interest 84,073,500.00 84,073,500.00 73,564,312.50 63,055,125.00 52,545,937.50

 2030 2031 2032 2033 2034 2035 2036 2037 2038
6 7 8 9 10 11 12 13 14

981988442 924738516 870826260 820057089 772247761 727225717 684828457 644902958 607305116

57249926 53912255 50769171 47809328 45022044 42397259 39925499 37597842 15243358
924738516 870826260 820057089 772247761 727225717 684828457 644902958 607305116 592061757

467075000 350306250 233537500 116768750 0 0 0 0 0

116768750 116768750 116768750 116768750 0 0 0 0 0
350306250 233537500 116768750 0 0 0 0 0 0

42036750 31527563 21018375 10509188 0 0 0 0 0

 2039 2040 2041 2042 2043 2044
15 16 17 18 19 20

592061757 577201007 562713262 548589159 534819571 521395600

14860750 14487745 14124103 13769588 13423971 13087030
577201007 562713262 548589159 534819571 521395600 508308570

0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0

0 0 0 0 0 0