Professional Documents
Culture Documents
DPR For SPV
DPR For SPV
Contents
1
2
Executive Summary............................................................................................. 4
Introduction.......................................................................................................... 6
2.1 Overview of Indian Power Sector...................................................................8
2.2 Initiatives of the Central Government in Renewable Energy Sector...............8
2.3 Initiatives of Orissa Government in Renewable Energy Sector:.....................9
3 Brief Profile of the Company............................................................................... 10
3.1 Introduction................................................................................................. 10
3.2 Promoters Background................................................................................. 10
4 Project Background............................................................................................ 12
5 Meteorological information................................................................................. 14
5.1 Radiation Climatology of India.....................................................................14
5.2 Radiation Climatology Of Orissa..................................................................21
5.3 Meteorological Data..................................................................................... 21
5.4 Climate Data................................................................................................ 22
6 Site Selection..................................................................................................... 24
5.1 Profile of the District.................................................................................... 24
5.2 District Map.................................................................................................. 25
5.3 Profile of the Land........................................................................................ 25
6 Technical Features.............................................................................................. 26
6.1 Proposed technology....................................................................................26
6.2 Plant Layout................................................................................................. 27
6.3 Plant Specification....................................................................................... 27
6.4 Civil Infrastructure....................................................................................... 31
7 Power Evacuation............................................................................................... 33
8 Project Execution Plan........................................................................................ 34
9 Operational Features.......................................................................................... 36
9.1 Factors Effecting Generation........................................................................36
9.2 Organization of power plant O &M...............................................................37
9.3 Protection of People and Equipment............................................................38
10
Financial Analysis............................................................................................ 39
10.1 Key Assumption........................................................................................... 39
10.2 Project Cost.................................................................................................. 40
10.3 Means of Finance......................................................................................... 40
10.4 Profitability Statement.................................................................................41
10.4.1 Projections of Performance, Profitability and Repayment......................41
10.4.2 Projected Cash Flow...............................................................................43
10.4.3 Projected Balance Sheet........................................................................44
10.4.4 Interest and Repayment Schedule.........................................................46
10.5 Financial Analysis......................................................................................... 47
10.5.1 Debt Service Coverage Ratio:................................................................47
10.5.2 Internal Rate of Return:.........................................................................48
11
1 Executive Summary
The techno - commercial feasibility report will highlight the technical and financial
aspects of the proposed project activity of 5 MW Grid Connected Solar Power
generation project at Khurda district of Orissa State under Built Own Operate (BOO)
mode. With a strategy to contribute towards sustainable development priorities of
the host country government by investing in renewable energy technology, MGM
Minerals Limited is developing a solar energy project in the state of Orissa.
Technical Aspects:
1
2
Proposed Capacity
Project Site
3
4
Type of system
Type of PV Modules
5
6
7
8
9
10
11
12
13
14
Life Time
Power Plant
Composition
5 MW
Village: Patrapada
Tehasil: Tangi
P.S.: Tangi
District: Khurda
State: Orissa
Country: India
Latitude-1958'31"N to 1958'44"N
Longitude-8527'43"E to 8528'7"E
Fixed Structure
A poly crystalline silicon cell is a combination
of more than one silicon cell in the form of
wafer. This system can operate at an efficiency
of 14.6% and is significantly cheaper than
single crystalline cells.
25 Acres
13%
17856
280 Wp
500 kW Inverters (10)
8.322 MU with Degradation factor of 0% per
annum
19%
The Power Generated at 415 V in the plant will
be stepped up to 33/132 kV and connected to
the 33/132 kV substation of GRIDCO which is
available nearby the project site.
20 Years
Solar array, solar modules, power conditioning
system, control room, data logging system,
15
16
17
September 2010
MGM Minerals limited
Financial Aspects:
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
Capital Cost
Debt Equity Ratio
Rate of Interest
Term Loan
Loan Tenure
Moratorium
Equity Contribution
Power Sale Price
Pay Back Period With CDM
Pay Back Period Without CDM
DSCR with CDM
DSCR without CDM
IRR with CDM
IRR without CDM
NPV @10% discount with CDM
NPV @10% discount without
CDM
2 Introduction
Energy usage has a dichotomous relationship with the development of the
civilization. With rapid growth in urbanization and industrialization, the pressure is
now on the energy sector to meet up the growing demand so as to sustain the
human energy requirement for day to day activity and support growth. Over use of
fossil fuel on the other hand is result in depletion of the finite fossil fuel reserve and
bringing about environmental degradation. Concern over the sustainability of the
energy supply and the environmental issues due to over use of the finite resources
is forcing the human race to think of a judicious solution of meeting up the energy
requirement without disturbing the ecological balance and raising concern over the
energy security.
In the wake of rising fossil fuel price, bleak projection of the fossil fuel reserve and
increasing concerns over countrys energy security; the government is strategized
towards a radical shift in the power sector plan and favoring the enhancement of
the renewable energy in the power generation mix. With an objective to deepen
institutional reform concerted effort has been made in Indian power sector by the
government with specific focus over the renewable energy sector.
JNSSM Scheme:
With an objective to harness the huge untapped solar energy potential in the
country and promote self energy sufficiency and independency, the Government of
India has launched promotional scheme and incentives to enhance private sector
participation in the field. The project is being conceptualized considering benefits as
mentioned in Jawaharlal Nehru National Solar Mission (JNNSM) for setting up Grid
connected Solar Power Plants. Jawaharlal Nehru National Solar Mission (JNNSM) aims
at development and deployment of solar energy technologies in the country to
achieve parity with grid power tariff by 2022. In the first phase i.e. till 2013 the
mission targets 1100 MW of solar power both thermal and photovoltaic. The mission
has also set up a national level entity i.e. the NTPC Vidyut Vyapar Nigam Limited
(NVVN) who would purchase all the power generated from such solar power plants
at tariff determined by the Central Electricity Regulatory Commission (CERC). At
present the CERC has announced a tariff of Rs 17.91 per unit.
Orissa has been at the forefront in the use of renewable energy and demonstrates
its effective utilization to the nation.
Benefits of Grid Connected Solar Power Systems:
a. The project activity will act as a corner stone towards diversification of national
energy supply and lower dependency on fossil fuel. Such initiative will also
contribute towards bridging up of the demand supply gap which is well reflected
2.1
Energy is the sine qua non of development. India with over a billion people, today
only produces 728962 MU against the annual energy requirement of 799578 MU of
electricity leaving over 600 million Indians, a population equal to the combined
population of USA and EU, without access to electricity. This constrained energy
access is reflected, in the relatively low Human Development Index of India. With an
economic growth slightly above 8% and projected growth rate of over the same the
country is proceeding towards serious dearth of power. The Central Electricity
Authority (CEA) has projected concern over serious power shortage in the coming
fiscal. Indian Power sector is highly fossil fuel dominated one owing to the
comparatively lower cost of power generation from the same. Fossil fuel comprises
of 63.3% of the total installed capacity rest being catered by large hydro power
project 24.87%, nuclear 2.81% leaving 9.02% from renewable. However, with the
improvement in technology and declaration of the incentives from the government
in terms of tariff support and tax break on renewable products is expected to be
commercialized the sector in the near future. The sector is expected to grow
outward from the vibrant domestic capital market, increased activities in the area of
project financing, and private equity investment.
With an installed capacity of 146752.81 MW, which is highly fossil fuel dominated
the country is facing the serious problem of energy shortage in the range of 10.5%
and peak deficit in the range of 13.5%. The power shortage is prevailing and
steadily dominating in spite of consistent sectoral growth in terms of enhancement
of installed capacity. Such demand supply viability gap has occurred in the back
drop of high economic growth, rapid industrialization and abrupt change in life style
leading enhancement of per capita energy consumption. In order the match the
pace of growth and fulfilling the deficit the sector is expanding its capacity leading
towards depletion of the fossil fuel reserve, concern of enhanced environmental
pollution and energy security. The high capital cost of installation, lack of
commercialized technology, lower Capacity Utilization Factor and inconsistency in
supplying of power owing to its high dependency on the nature has hindered the
prioritization and development of the renewable energy sector.
2.2
The ever growing concern over the energy security of the nation had initiated the
thought process of attaining energy self sufficiency for the nation. The very idea of
Energy Self sufficiency was identified as a major driver for promoting renewable
Introduction
MGM Minerals Limited is a part of 100 Crore MGM Group and is into mining and
exporting iron ore, having its own mines in Sundargarh district of Orissa.
The Group is setting up an integrated steel plant of 0.25 MT per annum capacity
including power plant of 16 MW Capacity through WHRB process. The first phase of
the above plant will be commissioned in 4-5 months time. The plant is being set up
in Dhenkanal district of Orissa. The plant includes sponge iron plant, waste heat
recovery power plant and steel billets manufacturing facilities.
The Group is also diversifying into Horticulture for which land has already been
acquired in different districts in Orissa.
3.2
Promoters Background
Meenoti Mohanty
Mrs. Meenoti Mohanty is wife of Mr. Rajib Lochan Mohanty aged about 55 years
(D.O.B. 15-06-55) is a resident of 2A, Forest Park, Bhubaneswar. She has 15 years
experience in mining business. He is a Director in Aeon Minerals (P) Ltd & MGM
Minerals Ltd. Her net worth is about 0.50 Crore.
4 Project Background
MGM Minerals Limited proposes to set up a 5 MW grid connected Solar Power plant
at Khurda District in the state of Orissa with the objective of renewable power
generation and supplying clean electricity to grid on BOO (Build, Own & Operate)
basis. The main objective of the project promoter is to be in tune with the
sustainable development priorities of the country and contribute towards climate
change mitigation initiative envisaged by the host country government. Successful
operation of the project activity will act as a cornerstone towards promotion of the
technology. With an age long relationship in the domain the promoter is intended to
set the project activity and demonstrates feasibility of grid interactive solar power in
supplying of reliable clean energy to the grid and support electrical demand in the
country, which is blessed with more than 320 days of sunshine.
The solar power plant shall operate on the principle of direct conversion of sunlight
to electrical energy by employing photovoltaic technology and supply it directly to
the grid.
The plant location is chosen as MGM Minerals Limited is having 15 acres of open
land available in that region, which is well suited for solar PV installations and hence
will reduce the leveling cost, shadow losses and cost for cabling as well due to its
proximity to grid. MGM Minerals Limited is also in the process of acquiring 10 acres
of land adjacent to the current 15 acres of land. 33 KV line of adequate capacity is
available nearby at Jankia, Khurda district about 5 Km from the proposed site and
connectivity to the proposed plant can be nade by drawing 5 Km of 33 KV line for
power synchronization with state grid through CESUs 33 KV system.
The promoter will ensure installation of the proposed solar plant and related
infrastructure will meet international standards for the industry. The power plant will
be scheduled for commissioning within one year from the date of possession of land
through the Orissa Government.
The power plant shall consist of:
Solar Array capacity (5 MW - rated high efficiency modules)
5 Meteorological information
5.1 Radiation Climatology of India
The solar radiant energy, in its passage through the atmosphere undergoes
depletion due to absorption and scattering by the various constituents of the
atmosphere at different levels. While most of absorptions are due to radiatively
active gases, chief of which are carbon dioxide, ozone and water vapour, the
scattering takes place due to all constituents of the atmosphere including
suspended particulate matter. The singlemost modifier of the radiation field is the
cloud, both due to absorption and scattering processes. Both the absorption and
scattering processes take place selectively, i.e. specific gases absorb or scatter at
specific wavelengths/wavelength bands. The absorption can be weak or strong and
partial or total. The scattering occurs both in the forward and backward directions.
The back scattering process can be termed as reflected radiant energy at the
appropriate levels. Ultimately, the radiant energy that reaches the earths surface is
made of the direct beam solar irradiation, the scattered (diffuse) solar irradiation
and the downward terrestriant radiant energy from the atmosphere. This heats up
the earths surface and causes evaporation of moisture in the soil and over water
surfaces.
The earths surface and the constituents of the atmosphere including clouds and
particulate matter emit radiant energy in the infra-red region at their own
temperatures. This energy is absorbed by different atmospheric layers at different
wavelengths, resulting in higher energy level content. But these absorbing layers
also emit their heat resulting in the lowering of the heat energy content. However,
since the temperatures of the different layers decrease as the height increases in
the tropospheric region, the downward radiant energy from the higher layers is
generally lower than those emitted upward by the lower layers.
This results in a net loss of the radiant energy in the infra-red wavelengths
(terrestrial radiant
energy). It is in this terrestrial radiant energy regime that all living organisms
including humans are immersed fully and thrive. It is also this energy field which
causes the changes in the temperature of the air layer close to it and hence the
density of air, leading a chain of interactions to affect the atmospheric temperature
and humidity and then the atmospheric pressure and the wind field. This ultimately
causes the weather patterns and the changes in them.
The amount of radiant energy from the sun over a place is not the same on each
day. The varying distance between the sun and the earth contributes to a small
percentage in the radiation field. Because of the tilt of the axis of rotation of the
earth about itself, the length of the day and night over a place changes everyday.
Also because of the tilt and the rotational movement of the earth, various parts of
February
March
April
May
June
July
August
October
November
December
Jun
Jul
4.7
0
3.9
1
Au
g
3.9
3
Se
p
4.3
0
Oc
t
4.8
3
No
v
4.5
5
De
c
4.3
4
Orissa is blessed with ample solar radiation throughout the year and is ideal for
solar power project. Based on the average insolation data the proposed Solar Plant
is estimated to generate 8.322 million units of electrical energy annually.
Source: NASA
On
Horizontal
Surface
19 0 28 N
20 0 17 N
84 0 29 N
86 0 25 N
190 53 N
85 0 56 N
4.96
[kWh/m /day]:
Insolation Clearness Index
0.53
Mont
h
Monthly
Average
Insolation
[kWh/m2/d
ay
Monthly
Average
Clearne
ss Index
K
Monthl
y
Averag
e
Dayligh
t
Hours
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
4.71
5.46
6.12
6.49
6.30
4.51
4.00
4.01
4.34
4.63
4.48
0.61
0.63
0.62
0.61
0.57
0.41
0.36
0.37
0.43
0.51
0.57
11.0
11.5
12.0
12.6
13.0
13.3
13.2
12.8
12.2
11.7
11.2
Monthl
y
Averag
e
Dayligh
t
Cloud
Amoun
t (%)
26.8
28.3
32.5
41.5
51.9
76.1
82.5
82.9
71.1
51.2
38.5
Monthly
Average
Relative
Humidity
at 10 m
(%)
Monthl
y
Averag
e clear
sky
days
Monthly
average
day time
cloud
amount
(%)
56.6
63.4
65.6
71.6
77.1
80.8
82.1
82.1
81.5
75.3
60.9
13
12
8
4
2
0
0
0
1
5
10
26.8
28.3
32.5
41.5
51.9
79.5
82.5
82.9
71.1
51.2
38.5
Monthly
Average
Insolation
[kWh/m2/d
ay
Monthly
Average
Clearne
ss Index
K
Monthl
y
Averag
e
Dayligh
t
Hours
Dec
4.51
0.62
10.9
Monthl
y
Averag
e
Dayligh
t
Cloud
Amoun
t (%)
24.5
Monthly
Average
Relative
Humidity
at 10 m
(%)
Monthl
y
Averag
e clear
sky
days
Monthly
average
day time
cloud
amount
(%)
52.3
17
24.5
Temperature (0C)
Maximum
Minimum
Average Day
Normal
Temperature
Rainfall
(0C)
January
February
March
April
May
June
July
August
Septembe
29
36
36
39
38
36
34
31
33
14
16
21
27
27
23
22
20
22
21.5
26.0
28.5
33.0
32.5
29.5
28.0
25.5
27.5
(in mm.)
12.6
27.1
24.3
27.2
52.9
225.1
347.7
357.5
217.5
r
October
November
December
33
31
30
20
18
17
26.5
24.5
23.5
86.3
20.4
3.3
6 Site Selection
1
Orissa
District Background: The District KHURDA came into being on 1
st April, 1993 by dividing it off its erstwhile Puri District which
after division became Puri, Khurda and Nayagarh. Later on in the
year 2000 the District name is changed as KHORDHA.
Basic
1940' N to 2027 N
8456' E to 8605 E
District Map
Proposed Site
Patrapada
Tangi
Tangi Police Station
25 acres
7 Technical Features
4
Proposed technology
Poly crystalline technology based modules will be used in the proposed power plant.
These modules are made with high efficiency multi crystalline solar cells (i.e. 13% to
17%). Polycrystalline solar cells are made by a casting process in which molten
silicon is poured into a mould and allowed to cool, then sliced into wafers. This
process results in cells that are significantly cheaper to produce than single crystal
cells, but whose efficiency is limited to less than 20% due to internal resistance at
the boundaries of the silicon crystals.
These polycrystalline solar cells are
best
candidates
for
large-scale
application of photovoltaic energy
conversion because they have shown
efficiencies in excess of 15%.
These cells are encapsulated between
a low iron content high transitivity
tempered glass and premium quality
back
sheet to
provide
efficient
protection from the environmental
conditions. The laminates are framed
with strong, robust and anodized
aluminum profile with multiple holes
for ease of installation. The modules
are fitted with 4 -terminal Tyco junction box with 16A, 40V schottky bypass diodes (3
diodes) and plug in connectors.
Plant Layout
As part of the land requirement for the 5 MW p Solar plant, MGM Minerals has
estimated 25 acres for the project activity based on the panel size. Based on the
system design developed for this potential project, a 5 MW p PV array would require
approximately 25 acres of land.
6
Plant Specification
Electrical Specification
Specification
Module Name
Rated Power
Voltage at Maximum Power
Current at Maximum Power
Open Circuit Voltage
Short Circuit Current
Maximum system Voltage
Temp. coefficient of Pmax
Normal Operating Cell
Temp.
Standard Test Conditions
(STC)
Unit
Pmax (W)
Vmp (V)
37
17.0
ELDORA 40
40
17.1
2.25
2.35
21.8
21.9
2.40
4.45
1000 V
2.5 W
Normal
Operating
Temperature
1000 W / m2, 25 C, AM 1.5
Imp (A)
Voc (V)
Isc (A)
Vsys (V) IEC/UL
Tk (Pmax)
45 C 2 C
Cell
Mechanical Specification
Length
Width
Weight
Thickness
(including
J-
box)
Module Area
Module type
Frame material
Glass Type
Encapsulation
Output Cable/Connectors
cm
cm
kg
cm
55.2
66.6
4
3.4
cm2
15.6 * 5.2
Poly - crystalline solar cells
High torsion & anodized aluminum frame provides
structural strength and protection from corrosion.
Tempered low iron content 3.2 mm front glass for
efficient sunlight absorption.
Low iron content high transitivity tempered glass and
premium quality back sheet
4-terminal Tyco junction box with 16A, 40V schottky
by pass diodes (3 diodes).
Modules are designed to meet IEC 61215, IEC 61730
& UL 1703 certification standard.
Inverter:
An inverter is an electrical or electro-mechanical device that converts direct current
(DC) to alternating current (AC); the resulting AC can be at any required voltage and
frequency with the use of appropriate transformers, switching, and control circuits.
Inverters are commonly used to supply AC power. In present case of solar electricity
generation, this is the device that takes the dc power from the PV array and
converts it into standard ac power evacuated to the Grid.
The power conditioning unit will be chosen from either of the following types:
Option I:
10 numbers of 500 kVA current-controlled grid-connect inverters will be used for
interface with grid. The system will have full protection as per international
standard, such as IEEE 929-2000 & UL 1741, for protection against grid over voltage
/ frequency, islanding and all other fault conditions.
Suitable lighting protection and earthling system will be installed for safety of
personnel and protection of the equipment. An integrated data logging system for
performance measurement and visual display of the important parameters, such as
daily/ monthly and cumulative energy generated w. r. t. solar intensity, wind
velocity, ambient temp, module temperature etc. will also be installed.
Option- II:
High efficient inverter modules will be ground mounted in series and parallel strings.
834 numbers of 6 kW or 625 numbers of 8 kW string inverters will be used for
interface with grid. The system will have full protection as per international
standard, such as IEEE 929-2000 & UL 1741, for protection against grid over voltage
/frequency, islanding and all other fault conditions.
Suitable lighting protection and earthling system will be installed for safety of
personnel and protection of the equipment. An integrated data logging system for
performance measurement and visual display of the important parameters, such as
daily / monthly and cumulatively energy generated w. r. t solar intensity, wind
velocity, ambient temp, module temperature etc. also be installed.
The above mentioned details are for probable system planned to be installed at
the proposed Solar Park.
Option III:
Sunny Boy Grid-Connect inverters (SB- 1100 Sunny Boy 1100 W String Inverter)
will be used with one series string of between 40 photovoltaic modules per inverter.
333 Inverter Units can be linked in parallel allowing extreme system design
333
207 -264Vac
47.0 - 50.5 Hz
~ 4W
0.1W.
(standby)
Max. efficiency
Certification
>93%
G83
Civil Infrastructure
Leveling:
Preliminary leveling shall be required for the land to have the PV filed in the same
plane. However, in this case, it is not entirely possible. Hence the structures are
designed to maintain the horizontal plane.
Trenches:
All the conduits between the various connection points will be subterranean and
routed in trenches.
Construction Roads:
A network of interconnected tracks provides accessibility to the different places in
the plant. There are two different types of tracks:
Final Roads:
Main roads inside the plant as well as the access tracks to the plant will be
conditioned to permit the traffic of all kind of vehicles during normal operation
including visiting.
Fencing:
A fence shall be installed along the perimeter of the plant.
Building:
There will be a building to house the inverters and the switchgears. An option to
have outdoor inverters is also considered and in this case they could be placed
outside of the building.
13 Power Evacuation
The electricity generated from Solar Park can be fed to either 33 kV line by putting a
sub-station. Alternatively the electricity can be fed to the nearest sub-station by
laying a HT transmission line.
Phase
Phase
Phase
Phase
I Project Development
II- Finalization of equipment and contracts
III- Procure & Construction
IV- Plant Commissioning
Project Development:
In a power project development of the project plays an important role. Almost 50%
of the work is done if one achieves the power purchase agreement from the
respective state utilities. The project development start with visits to the region,
understanding about the regional conditions, socio economic conditions,
transportation facilities and infrastructure facilities available in the region. Apart
from the above the tasks listed below will be under project development;
During this phase, a project team will be formed for the execution of the project.
The engineers from this group will be involved from early stages of execution of
project. These personnel should evolved critical team of installation of
commissioning. After the plant is commissioned these engineers and technicians
should occupy key position in the organization structure for the operation and
maintenance of the plant.
The responsibilities of the project team shall be
15 Operational Features
8
9
Organization of power plant O &M
The organization proposed ensures that the power plant will be headed by a plant
engineer holding the full charge of the power plant operations. The plant engineer
should have experience in solar power technology. Two more technicians will be
required for regular monitoring and a few casuals can be engaged for regular
cleaning of the solar modules.
During commissioning of the plant training will be imparted to the engineers and
supervisors.
The operational training shall cover the following:
The nature, purpose and limitations of all plant and equipments.
The detailed operating instructions of each sanctions and equipment of the
plant.
The emergency procedures and all related HAC issues according the
standard.
The basis for the training shall be the plants operations and maintenance
manual, contract documents and drawing provided by the manufacturer
Sl. No.
Particulars
1
2
3
4
5
6
7
Plant Manager
Degree Engineer
Diploma Engineer
ITI - Technician
ITI - Supervisor
Accounts & Administration
Security & Service (Outsource)
Total
Number
1
1
2
3
3
1
1
12
10
Further personnel protection is ensured with the overloading, over voltage and
Reverse current protections in built in the central inverter.
16 Financial Analysis
11
Key Assumption
Sl. No.
1
2
3
Particulars
Project Size
Project Life
Debt : Equity
Project Cost
Term Loan
6
7
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
8
9
10
11
Data
5
25
2
.33
7,705
.44
5,368
.37
13.39%
12.89%
10
0
33.99%
0
16.995%
8.50
5.72%
0.00%
5.72%
17.91
19%
365
24
1000
0.00%
0.84
12
65
10%
4
Unit
MW
Years
Rs. in Lakhs
Rs. in Lakhs
Per annum
Per annum
Years
Years
Years
12
Sl.
No.
1
Project Cost
Description
Rs. in Lakhs
Amount
Total
Amount
a)
Land
b)
Land Development
45.00
15.00
2
Office Building
40.00
a)
7,500.00
b)
a)
20.00
20.00
5
40.00
15.00
b)
Pre-Operative Expenses
25.00
Contingency
Working Capital
750.00
25.44
a)
13
Means of Finance
Sl. No.
Particulars
Rs. In
Lakhs
Promoters Contribution
2.33
2,311.63
4
Working Capital
25.44
b)
Term Loan
5,368.37
Total
7,705.44
14
Profitability Statement
16.1.1
Power Revenue
Units Generated (MWh)
Selling price per unit (Rs.)
Sales Income without CDM
CDM Revenue
CER Generated (tCO2)
CER Price in EURO
CDM Revenue
Total Revenue with CDM
Without CDM
Annual Cost
Operation and Maintenance
Administrative Expenses
Salary
Interest on Loan
Depreciation
Total Expenditure (without
CDM)
Profit Before Tax Without
CDM
Taxable Profit without CDM
Income Tax
Profit After Tax without
CDM
With CDM
Expenditure on CDM
Total Expenditure (with
CDM)
Profit Before Tax With CDM
Rs
Construction
Period
Y0
Operational Period
Y1
Y2
Y3
Y4
Y5
Y6
Y7
0
0.00
-
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
832
18
149
0
0
-
6990
12
55
1545
6990
12
55
1545
6990
12
55
1545
6990
12
55
1545
6990
12
55
1545
6990
12
55
1545
699
12
55
154
43
45
48
50
53
56
59
4
52
706
530
1,335
4
55
667
530
1,301
4
58
622
530
1,262
4
62
571
530
1,217
4
65
513
530
1,165
4
69
446
530
1,105
4
73
370
530
1,03
156
190
229
274
326
386
455
-5,321
-486
513
750
841
909
980
156
190
229
274
326
386
455
5
1,340
5
1,306
5
1,267
5
1,222
5
1,170
5
1,110
5
1,0
205
239
278
323
375
435
504
Add : Depreciation
Less : Depreciation Income
Tax
Taxable Profit with CDM
530
6,007
530
1,206
530
246
530
53
530
14
530
6
530
5
-5,272
-437
562
799
890
958
1,02
Income Tax
Profit After Tax with CDM
205
239
278
323
375
435
504
Operational Period
Y11
Y12
Y13
Y14
Y15
Y16
Y17
Y18
Y19
Y20
Power Revenue
Units Generated (MWh)
Selling price per unit (Rs.)
Sales Income without CDM
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
8322
18
1490
CDM Revenue
CER Generated (tCO2)
CER Price in EURO
CDM Revenue
Total Revenue with CDM
1490
1490
1490
1490
1490
1490
1490
1490
1490
1490
Without CDM
Annual Cost
Operation and Maintenance
74
78
83
88
93
98
103
109
116
122
Administrative Expenses
Salary
Interest on Loan
Depreciation
Total Expenditure
(without CDM)
Profit Before Tax Without
CDM
Taxable Profit without CDM
4
91
3
102
275
4
96
3
102
284
4
102
3
102
294
4
108
3
102
304
4
114
3
102
315
4
120
3
102
327
4
127
3
102
340
4
134
3
102
353
4
142
3
102
367
4
150
3
102
382
1,216
1,207
1,197
1,186
1,175
1,163
1,151
1,138
1,124
1,109
1,315
1,306
1,296
1,286
1,275
1,263
1,251
1,238
1,224
1,209
Income Tax
Profit After Tax without
CDM
With CDM
Expenditure on CDM
Total Expenditure (with
CDM)
Profit Before Tax With
CDM
Add : Depreciation
Less : Depreciation
Income Tax
Taxable Profit with CDM
447
769
444
763
441
756
437
749
433
742
429
734
425
726
421
717
416
708
411
698
275
284
294
304
315
327
340
353
367
382
1,216
1,207
1,197
1,186
1,175
1,163
1,151
1,138
1,124
1,109
102
3
102
3
102
3
102
2
102
2
102
2
102
2
102
2
102
2
102
2
1,315
1,306
1,296
1,286
1,275
1,263
1,251
1,238
1,224
1,209
Income Tax
Profit After Tax with CDM
447
769
444
763
441
756
437
749
433
742
429
734
425
726
421
717
416
708
411
698
16.1.2
Inflow
Y
0
Equity
Capital
2,
3
12
5,
3
94
Loan Fund
Operational
Y
1
Y
2
Y
3
Y
4
Y
5
85
Rs. In Lakhs
Y
Y
Y
6
7
8
1,
1,
Y
9
Y
1
0
1,
1,
7,
7
0
5
Net Inflow/
(Outflow)
Cumulative
Balance
2
5
Equity
Capital
Loan Fund
Operational
Income
Total Cash
Inflow
Outflow
Purchase of
Assets
Preoperativ
e Expenses
Repayment
of Term
Loan
Total Cash
Outflow
Net Inflow/
(Outflow)
6
9
7
6
9
08
05
64
03
3
1,
0
3
3
1
13
1,
1
1
3
20
4
1,
2
0
4
30
9
1,
3
0
9
8
0
8
8
5
3
9
0
5
9
6
4
2
7
4
2
7
4
3
1
3
3
1
3
3
58
40
9
4
67
5
34
61
0
6
97
79
6
90
9
3
5
8
4
0
9
4
6
7
5
3
4
6
1
0
6
9
7
7
9
6
9
0
9
4
6
1
4
8
6
4
5
5
9
4
2
4
5
0
1,
3
9
1
4
4
4
1,
8
3
5
4
3
7
2,
2
7
2
4
3
0
2,
7
0
3
4
2
3
3,
1
2
6
4
1
6
3,
5
4
2
4
0
8
3,
9
4
9
3
9
9
4,
3
4
9
7,
6
40
40
7,
6
8
0
2
5
Inflow
3
5
7
3
5
Rs. In
Lakhs
Y2 Y
4
2
5
Y
1
1
Y
1
2
Y
1
3
Y
1
4
Y
1
5
Y
1
6
Y
1
7
Y
1
8
Y
1
9
Y
2
0
Y
2
1
Y
2
2
Y
2
3
8
71
8
5
8
8
5
8
8
5
1
8
5
1
8
4
4
8
4
4
8
3
6
8
3
6
8
2
7
8
2
7
8
1
9
8
1
9
8
0
9
8
0
9
8
0
0
8
0
0
7
8
9
7
8
9
7
7
8
7
7
8
7
6
7
7
6
7
75
5
8
7
1
8
6
5
8
6
5
8
7
8
6
8
5
8
5
8
4
8
3
8
2
8
1
8
0
8
0
7
8
7
7
7
6
75
5
7
4
75
5
7
4
2
7
4
2
1
5,
2
2
0
5
6
,
0
8
5
8
6
,
9
4
3
1
7
,
7
9
4
4
8,
6
3
7
6
9,
4
7
3
7
1
0,
3
0
1
9
1
1,
1
1
9
9
1
1,
9
2
9
0
1
2,
7
2
9
9
1
3,
5
1
8
8
1
4,
2
9
6
7
1
5,
0
6
3
15
,8
18
2
1
6,
5
6
0
16.1.3
Liabilities
Capital
Equity Capital
Y0
Y
1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y1
0
2,31
2
2,
31
2
20
5
2,3
12
2,3
12
2,3
12
2,3
12
2,3
12
2,3
12
2,3
12
2,3
12
2,3
12
44
4
72
1
1,0
44
1,4
19
1,8
54
2,3
57
2,9
40
3,6
15
4,3
94
5,
09
4
25
7,
6
3
6
4,7
81
4,4
23
4,0
13
3,5
46
3,0
12
2,4
02
1,7
05
909
25
7,5
61
25
7,4
81
25
7,3
95
25
7,3
02
25
7,2
03
25
7,0
97
25
6,9
83
25
6,8
61
25
6,7
31
7,
64
0
53
0
7,
11
0
-
7,6
40
7,6
40
7,6
40
7,6
40
7,6
40
7,6
40
7,6
40
7,6
40
7,6
40
1,0
60
6,5
80
1,5
90
6,0
50
2,1
20
5,5
20
2,6
50
4,9
90
3,1
80
4,4
60
3,7
09
3,9
31
4,2
39
3,4
01
4,7
68
2,8
72
5,2
98
2,3
42
48
6
40
94
2
40
1,3
91
40
1,8
35
40
2,2
72
40
2,7
03
40
3,1
26
40
3,5
42
40
3,9
49
40
4,3
49
40
7,
6
3
6
7,5
61
7,4
81
7,3
95
7,3
02
7,2
03
7,0
97
6,9
83
6,8
61
6,7
31
Reserve &
Surplus
Loan Fund
Term Loan
WC Loan
Other Liability
Total
25
7,70
5
5,36
8
Assets
Fixed Assets
Gross Block
7,64
0
Depreciation
Net Block
7,64
0
Investment
Current Assets
Cash & Bank
Balance
Other Current
Assets
Total
25
40
7,70
5
Rs. In
Lakhs
Y1 Y12 Y13 Y14 Y15 Y16 Y17 Y18 Y19 Y20 Y21 Y22 Y23 Y24
1
Y25
Liabilities
Capital
Equity Capital
2,3 2,31 2,31 2,31 2,3122,3122,3122,312 2,312 2,312 2,3122,312 2,312 2,312
12 2
2
2
2,312
5,1 5,92 6,68 7,43 8,1738,9079,63210,34 11,05 11,75 12,44 13,12 13,78 14,442
63 6
2
1
9
7
5
3
1
8
15,08
3
Term Loan
WC Loan
25 25
25
25
25
25
25
25
25
25
25
25
25
25
25
Other Liability
Total
7, 8,26 9,01 9,76 10,5 11,2 11,9 12,6 13,3 14,0 14,7 15,4 16,1 16,779
50 3
9
8
10
44
69
86
94
92
81
58
25
0
17,4
20
7,6 7,64
40 0
5,4 5,50
00 2
2,2 2,13
40 8
- -
7,640
6,820
820
Assets
Fixed Assets
Gross Block
Depreciation
Net Block
Investment
7,64
0
5,60
4
2,03
6
-
7,64
0
5,70
6
1,93
4
-
Current Assets
Cash & Bank
Balance
Other Current
Assets
Total
5,2 6,08 6,94 7,79 8,6379,47310,30 11,11 11,92 12,72 13,51 14,29 15,06 15,818
20 5
3
4
1
9
9
9
8
6
3
40 40 40 40 40
40
40
40
40
40
40
40
40
40
16,56
0
40
7, 8,26 9,01 9,76 10,5 11,2 11,9 12,6 13,3 14,0 14,7 15,4 16,1 16,779
50 3
9
8
10
44
69
86
94
92
81
58
25
0
17,4
20
16.1.4
Term Loan
Int. rate
Opening Balance
Y1
Y2
Y3
Y4
Y5
Y6
Y7
5368
5094
4781
4423
4013
3546
3012
Repayment
274
313
358
409
467
534
610
Closing Balance
5094
4781
4423
4013
3546
3012
2402
702
663
619
568
509
443
367
Loan Obtained
Amount of Interest
5368
13.39%
Interest
on Loan
Y
1
Y
2
Y
3
Y
4
Y
5
Y
6
Y
7
Y
8
Y
9
7
0
6
6
6
7
6
2
2
5
7
1
5
1
3
4
4
6
3
7
0
2
8
3
1
8
4
Y
1
0
7
1
Y
1
1
3
Y
1
2
3
Y
1
3
3
Y
1
4
3
Y
1
5
3
Y
1
6
3
Y
1
7
3
Y
1
8
3
Y
1
9
3
Y
2
0
3
Y
2
1
3
Y
2
2
3
Y
2
3
3
Rs.
In
Lakh
s
Y Y
2 2
4 5
3 3
Y0
Y1
Y2
Y3
Y4
Y5
Y6
205
706
530
1,441
980
1.47
239
667
530
1,435
980
1.46
278
622
530
1,430
980
1.46
323
571
530
1,424
980
1.45
375
513
530
1,417
980
1.45
435
446
530
1,410
980
1.44
5
3
5
1
9
1
Y0
Y1
Y2
Y3
Y4
Y5
Y6
Y0
-
156
706
530
1,392
980
1.42
190
667
530
1,386
980
1.41
229
622
530
1,381
980
1.41
274
571
530
1,375
980
1.40
326
513
530
1,368
980
1.40
386
446
530
1,361
980
1.39
4
3
5
1
9
1
1.44
1.39
Y0
Y1
Y2
Y3
Y4
Y5
Y6
Y7
Y8
Y9
Y10
Cash Inflow
0
461
455
450
444
437
430
423
416
408
399
-2,31
2
-2,31
2
461
455
450
444
437
430
423
416
408
399
-2,31
2
-1,8
51
-1,3
95
-94
6
-50
2
-65
366
789
1,20
5
1,61
2
2,01
2
Cash Outflow
Net Cash Flow
Cumulative Cash Flow
Y11
Y12
Y13
Y14
Y15
Y16
Y17
Y18
Y19
Y20
Y21
Y22
871
865
858
851
844
836
827
819
809
800
789
778
871
865
858
851
844
836
827
819
809
800
789
778
2,88
3
3,74
7
4,60
6
5,45
7
6,30
0
7,13
6
7,96
4
8,78
2
9,59
2
10,3
92
11,1
81
11,9
59
Y4
Y5
Y6
Y7
Y8
Cash Inflow
Cash Outflow
Net Cash Flow
Cumulative Cash Flow
PAY BACK PERIOD with
CDM
IRR with CDM Revenue
Y6
21.3
5%
Y0
Cash Inflow
Y1
Y2
Y3
0
412
406
401
395
388
381
374
367
-2,312
-2,312
412
406
401
395
388
381
374
367
-2,312
-1,90
0
-1,49
4
-1,09
3
-698
-310
71
445
812
Cash Outflow
Net Cash Flow
Cumulative Cash Flow
Without CDM
Revenue
Cash Inflow
Y11
Y12
Y13
Y14
Y15
Y16
Y17
Y18
Y19
Y20
Y21
Y22
865
858
851
844
836
827
819
809
800
789
778
871
865
858
851
844
836
827
819
809
800
789
778
2,39
2
3,25
7
4,11
5
4,96
6
5,81
0
6,64
5
7,47
3
8,29
2
9,10
1
9,90
1
10,6
90
11,4
69
Cash Outflow
Net Cash Flow
Cumulative Cash Flow
PAY BACK PERIOD w/o
CDM
IRR without CDM
Revenue
NPV @ 10% w/o CDM
Y6
19.7
8%
1,7
78