Clean Energy Project Analysis Software

Wind Energy Project Model

Click Here to Start
Description & Flow Chart
Colour Coding
Online Manual

Clean Energy
Decision Support Centre
www.retscreen.net

Worksheets
Energy Model
Equipment Data
Cost Analysis
Greenhouse Gas Analysis
Financial Summary

Training & Support

Internet Forums
Marketplace
Case Studies
e-Textbook

Features
Product Data
Weather Data
Cost Data
Unit Options
Currency Options
CDM / JI Project Analysis
Sensitivity Analysis

Version 3.0

Partners

Minister of Natural Resources Canada 1997-2004.

NRCan/CETC - Varennes

RETScreen Energy Model - Wind Energy Project

Units:

Training & Support

Metric

Site Conditions
Project name
Project location
Wind data source
Nearest location for weather data
Annual average wind speed
Height of wind measurement
Wind shear exponent
Wind speed at 10 m
Average atmospheric pressure
Annual average temperature

m/s
m
m/s
kPa
C

Estimate
Scenario #1
Calgary, AB
Wind speed
Calgary Int'l. A, AB
4.4
10.0
0.15
4.4
88.9
4

System Characteristics
Grid type
Wind turbine rated power
Number of turbines
Wind plant capacity
Hub height
Wind speed at hub height
Array losses
Airfoil soiling and/or icing losses
Other downtime losses
Miscellaneous losses

kW
kW
m
m/s
%
%
%
%

Estimate
Central-grid
1,000
20
20,000
45.0
5.5
3%
2%
2%
3%

kW
MW
MWh
MWh
kWh/m
%
MWh
GJ

Estimate
Per Turbine
1,000
1.000
1,545
0.88
1.04
1,414
0.90
556
15%
1,278
4,600

Annual Energy Production

Wind plant capacity
Unadjusted energy production
Pressure adjustment coefficient
Temperature adjustment coefficient
Gross energy production
Losses coefficient
Specific yield
Wind plant capacity factor
Renewable energy delivered

Notes/Range
See Online Manual

See Weather Database

3.0 to 100.0 m
0.10 to 0.40
60.0 to 103.0 kPa
-20 to 30 C
Notes/Range
Complete Equipment Data sheet

6.0 to 100.0 m
0% to 20%
1% to 10%
2% to 7%
2% to 6%
Estimate
Total
20,000
20.000
30,902
0.88
1.04
28,282
0.90
556
15%
25,556
92,003

Notes/Range

0.59 to 1.02
0.98 to 1.15
0.75 to 1.00
150 to 1,500 kWh/m
20% to 40%

Complete Cost Analysis sheet

Version 3.0

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 1.xls

NRCan/CETC - Varennes

RETScreen Equipment Data - Wind Energy Project

Wind Turbine Characteristics
Wind turbine rated power
Hub height
Rotor diameter
Swept area
Wind turbine manufacturer
Wind turbine model
Energy curve data source

Estimate
1,000
45.0
54
2,300
Bonus Energy
AN BONUS 1 MW
User-defined

Wind speed
(m/s)
0
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

Power curve data

(kW)
0.0
0.0
0.0
0.0
24.1
69.3
130.0
219.1
333.5
463.1
598.1
730.0
846.5
928.8
972.6
990.8
997.2
999.2
999.8
999.9
1,000.0
1,000.0
1,000.0
1,000.0
1,000.0
1,000.0

kW
m
m
m

Notes/Range
See Product Database

6.0 to 100.0 m
7 to 80 m
35 to 5,027 m

Site specific

Wind Turbine Production Data

Energy curve data
(MWh/yr)
1,182.0
1,889.0
2,632.0
3,351.0
4,004.0
4,575.0
-

Power and Energy Curves

Energy

5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0

Power (kW)

1,000
800
600
400
200
0
0

10
12
14
16
Wind speed (m/s)

18

20

22

Energy (MWh/yr)

Power

1,200

24

Return to
Energy Model sheet
Version 3.0

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 1.xls

NRCan/CETC - Varennes

RETScreen Cost Analysis - Wind Energy Project

Type of project:
Initial Costs (Credits)
Feasibility Study
Site investigation
Wind resource assessment
Environmental assessment
Preliminary design
Detailed cost estimate
GHG baseline study and MP
Report preparation
Project management
Travel and accommodation
Sub-total:
Development
PPA negotiation
Permits and approvals
Land rights
Land survey
GHG validation and registration
Project financing
Legal and accounting
Project management
Travel and accommodation
Sub-total:
Engineering
Wind turbine(s) micro-siting
Mechanical design
Electrical design
Civil design
Tenders and contracting
Construction supervision

Search Marketplace

Custom

Currency:
Second currency:
Unit Cost

Unit

Quantity

p-d
met tower
p-d
p-d
p-d
project
p-d
p-d
p-trip

6.0
6
8.0
18.0
18.0

$
$
$
$
$

800
22,000
800
800
800

8.0
6.0
4

$
$
$

800
800
3,000

p-d
p-d
project
p-d
project
p-d
p-d
p-yr
p-trip

p-d
p-d
p-d
p-d
p-d
p-yr

20.0
250.0
1
50.0

$
$
$
$

1,200
800
30,000
600

100.0
100.0
1.25
18

$
$
$
$

1,500
1,200
130,000
3,000

175.0
100.0
150.0
90.0
110.0
0.85

$
$
$
$
$
$

800
800
800
800
800
130,000

Sub-total:
Energy Equipment
Wind turbine(s)
Spare parts
Transportation
Sub-total:
Balance of Plant
Wind turbine(s) foundation(s)
Wind turbine(s) erection
Road construction
Transmission line
Substation
Control and O&M building(s)
Transportation
Sub-total:
Miscellaneous
Training
Commissioning
Contingencies
Interest during construction
Sub-total:
Initial Costs - Total
Annual Costs (Credits)
O&M
Land lease
Property taxes
Insurance premium
Transmission line maintenance
Parts and labour
GHG monitoring and verification
Community benefits
Travel and accommodation
General and administrative
Contingencies
Annual Costs - Total
Periodic Costs (Credits)
Drive train
Blades
End of project life
Version 3.0

kW
%
turbine

turbine
turbine
km
km
project
building
project

p-d
p-d
%
6.0%

20,000
1.0%
20

20
20
3.00
8.50
1
1
1

40.0
50.0
5%
12 month(s)

$
$
$

$
$
$
$
$
$
$

$
$
$
$

1,200
24,000,000
33,000

78,000
52,000
50,000
70,000
2,055,000
125,000
68,000

800
800
32,141,200
33,748,260

Unit

Quantity

project
project
project
%
kWh
project
p-trip
%

1
1
1
3.0%
25,556,461

$
$
$
$
$

57,000
23,000
46,000
2,650,000
0.008

1
12
6%

$
$
$

15,000
3,000
460,952

10%

488,609

Cost
Cost

Period
10 yr
15 yr

Credit

$
Denmark
Amount
$
$
$
$
$
$
$
$
$
$
$

4,800
132,000
6,400
14,400
14,400
6,400
4,800
12,000
195,200

$
$
$
$
$
$
$
$
$
$
$

24,000
200,000
30,000
30,000
150,000
120,000
162,500
54,000
770,500

$
$
$
$
$
$
$
$

140,000
80,000
120,000
72,000
88,000
110,500
610,500

$
$
$
$
$

24,000,000
240,000
660,000
24,900,000

$
$
$
$
$
$
$
$
$

1,560,000
1,040,000
150,000
595,000
2,055,000
125,000
68,000
5,593,000

$
$
$
$
$
$

32,000
40,000
1,607,060
1,012,448
2,691,508
34,760,708

7.7%
100.0%

Amount

Relative Costs

Unit Cost

$
$

Unit Cost
1,000,000
1,000,000

$
Cost references:
DKK
Rate: $/DKK
Relative Costs Quantity Range

$
$
$
$
$
$
$
$
$
$
$
$

57,000
23,000
46,000
79,500
204,452
15,000
36,000
27,657
48,861
537,470

$
$
$
$

Amount
1,000,000
1,000,000
-

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 1.xls

None
0.17900
Unit Cost Range

Quantity Range

Unit Cost Range

Interval Range
-

Unit Cost Range

-

0.6%

2.2%

1.8%

71.6%

16.1%

100.0%

Go to GHG Analysis sheet

NRCan/CETC - Varennes

RETScreen Greenhouse Gas (GHG) Emission Reduction Analysis - Wind Energy Project
Use GHG analysis sheet?
Potential CDM project?

Yes
No

Type of analysis:
Use simplified baseline methods?

Complete Financial Summary sheet

Standard
No

Background Information
Project Information
Project name
Project location

Scenario #1
Calgary, AB

Project capacity
Grid type

20.0 MW
Central-grid

Global Warming Potential of GHG

21 tonnes CO2 = 1 tonne CH4
310 tonnes CO2 = 1 tonne N2O

(IPCC 1996)
(IPCC 1996)

Base Case Electricity System (Baseline)

Fuel type

Coal

Electricity mix

Fuel mix
(%)
100.0%

100%

CO2 emission
factor
(kg/GJ)
94.6

293.8

Does baseline change during project life?

CH4 emission
factor
(kg/GJ)
0.0020

N2O emission
factor
(kg/GJ)
0.0030

0.0062

0.0093

No

Fuel conversion
efficiency
(%)
35.0%

Change in GHG emission factor

T&D
losses
(%)
8.0%

8.0%

GHG emission
factor
(tCO2/MWh)
1.069
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
1.069

-20.0%

Proposed Case Electricity System (Wind Energy Project)

Fuel type

Electricity system
Wind

(%)

CO2 emission
factor
(kg/GJ)

CH4 emission
factor
(kg/GJ)

N2O emission
factor
(kg/GJ)

Fuel conversion
efficiency
(%)

T&D
losses
(%)

GHG emission
factor
(tCO2/MWh)

100.0%

0.0

0.0000

0.0000

100.0%

8.0%

0.000

Base case
GHG emission
factor
(tCO2/MWh)
1.069

Proposed case
GHG emission
factor
(tCO2/MWh)
0.000

End-use
annual energy
delivered
(MWh)
23,512

Gross annual
GHG emission
reduction
(tCO2)
25,123

GHG credits
transaction
fee
(%)
0.0%

Net annual
GHG emission
reduction
(tCO2)
25,123

Fuel mix

GHG Emission Reduction Summary

Years of
occurence

Electricity system

(yr)
1 to 4

Complete Financial Summary sheet

Version 3.0

United Nations Environment Programme & Minister of Natural Resources Canada 2000 - 2004.

20/07/2004; WIND Scenario 1.xls

UNEP/DTIE and NRCan/CETC - Varennes

RETScreen Financial Summary - Wind Energy Project

Annual Energy Balance
Project name
Project location
Renewable energy delivered
Excess RE available
Firm RE capacity
Grid type

MWh
MWh
kW

Scenario #1
Calgary, AB
25,556
Central-grid

Peak load
Grid energy demand
Net GHG reduction
Net GHG reduction - yr 5 + beyond
Net GHG emission reduction - 25 yrs
Net GHG emission reduction - 25 yrs

kW
MWh
tCO2/yr
tCO2/yr
tCO2
tCO2

Central-grid
25,123
25,123
628,067
628,067

Financial Parameters
Avoided cost of energy
RE production credit
RE production credit duration
RE credit escalation rate
GHG emission reduction credit
GHG reduction credit duration
GHG credit escalation rate
Avoided cost of excess energy
Avoided cost of capacity
Energy cost escalation rate
Inflation
Discount rate
Project life

$/kWh
$/kWh
yr
%
$/tCO2
yr
%
$/kWh
$/kW-yr
%
%
%
yr

0.0450
25
2.5%
25
2.5%
120
3.0%
2.5%
9.0%
25

Debt ratio
Debt interest rate
Debt term
Income tax analysis?
Effective income tax rate
Loss carryforward?
Depreciation method
Depreciation tax basis
Depreciation rate
Depreciation period
Tax holiday available?
Tax holiday duration

%
%
yr

70.0%
8.5%
10

yes/no
No
%
35.0%
yes/no
Yes
Declining balance
%
95.0%
%
30.0%
yr
15
yes/no
No
yr
5

Project Costs and Savings

Initial Costs
Feasibility study
Development
Engineering
Energy equipment
Balance of plant
Miscellaneous
Initial Costs - Total

0.6%
2.2%
1.8%
71.6%
16.1%
7.7%
100.0%

$
$
$
$
$
$
$

195,200
770,500
610,500
24,900,000
5,593,000
2,691,508
34,760,708

Incentives/Grants

Periodic Costs (Credits)

# Drive train
# Blades
#
End of project life - Credit

$
$
$
$

1,000,000
1,000,000
-

Annual Costs and Debt

O&M
Fuel/Electricity
Debt payments - 10 yrs
Annual Costs and Debt - Total

$
$
$
$

537,470
3,708,460
4,245,929

Annual Savings or Income

Energy savings/income
Capacity savings/income
RE production credit income - 25 yrs
GHG reduction income - 25 yrs
Annual Savings - Total

$
$
$
$
$

1,150,041
1,150,041

Schedule yr # 10,20
Schedule yr # 15
Schedule yr # 0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0
Schedule yr # 25

Financial Feasibility
Pre-tax IRR and ROI
After-tax IRR and ROI
Simple Payback
Year-to-positive cash flow
Net Present Value - NPV
Annual Life Cycle Savings
Benefit-Cost (B-C) ratio
Version 3.0

%
%
yr
yr
$
$
-

-7.1%
-7.1%
56.7
more than 25
(27,163,120)
(2,765,375)
(1.60)

Calculate energy production cost?

Energy production cost
Calculate GHG reduction cost?
GHG emission reduction cost
Project equity
Project debt
Debt payments
Debt service coverage

yes/no
$/kWh
yes/no
$/tCO2
$
$
$/yr
-

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004;WIND Scenario 1.xls

No
0.0722
No
Not calculated
10,428,212
24,332,495
3,708,460
(0.11)

Yearly Cash Flows

Year
Pre-tax
#
$
0
(10,428,212)
1
(3,074,824)
2
(3,053,061)
3
(3,030,575)
4
(3,007,345)
5
(2,983,345)
6
(2,958,551)
7
(2,932,937)
8
(2,906,477)
9
(2,879,143)
10
(4,130,992)
11
886,719
12
916,846
13
947,966
14
980,109
15
(434,988)
16
1,047,601
17
1,083,018
18
1,119,598
19
1,157,377
20
(442,222)
21
1,236,690
22
1,278,305
23
1,321,280
24
1,365,661
25
1,411,491
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
-

After-tax
$
(10,428,212)
(3,074,824)
(3,053,061)
(3,030,575)
(3,007,345)
(2,983,345)
(2,958,551)
(2,932,937)
(2,906,477)
(2,879,143)
(4,130,992)
886,719
916,846
947,966
980,109
(434,988)
1,047,601
1,083,018
1,119,598
1,157,377
(442,222)
1,236,690
1,278,305
1,321,280
1,365,661
1,411,491
-

Cumulative
$
(10,428,212)
(13,503,037)
(16,556,097)
(19,586,672)
(22,594,017)
(25,577,362)
(28,535,913)
(31,468,850)
(34,375,328)
(37,254,471)
(41,385,463)
(40,498,745)
(39,581,899)
(38,633,933)
(37,653,824)
(38,088,812)
(37,041,211)
(35,958,192)
(34,838,594)
(33,681,217)
(34,123,438)
(32,886,748)
(31,608,443)
(30,287,163)
(28,921,503)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)
(27,510,011)

NRCan/CETC - Varennes

RETScreen Financial Summary - Wind Energy Project

Cumulative Cash Flows Graph

Wind Energy Project Cumulative Cash Flows

Scenario #1, Calgary, AB
Renewable energy delivered (MWh/yr): 25,556

Total Initial Costs:

34,760,708

Net GHG emissions reduced (tCO2/yr): 25,123

0
0

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

(5,000,000)

Cumulative Cash Flows ($)

(10,000,000)

(15,000,000)

(20,000,000)

(25,000,000)

(30,000,000)

(35,000,000)

(40,000,000)

(45,000,000)
Years

IRR and ROI: -7.1%

Version 3.0

Year-to-positive cash flow: more than 25 yr

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004;WIND Scenario 1.xls

Net Present Value: $ -27,163,120

NRCan/CETC - Varennes

Clean Energy Project Analysis Software

Wind Energy Project Model

Click Here to Start
Description & Flow Chart
Colour Coding
Online Manual

Clean Energy
Decision Support Centre
www.retscreen.net

Worksheets
Energy Model
Equipment Data
Cost Analysis
Greenhouse Gas Analysis
Financial Summary

Training & Support

Internet Forums
Marketplace
Case Studies
e-Textbook

Features
Product Data
Weather Data
Cost Data
Unit Options
Currency Options
CDM / JI Project Analysis
Sensitivity Analysis

Version 3.0

Partners

Minister of Natural Resources Canada 1997-2004.

NRCan/CETC - Varennes

RETScreen Energy Model - Wind Energy Project

Units:

Training & Support

Metric

Site Conditions
Project name
Project location
Wind data source
Nearest location for weather data
Annual average wind speed
Height of wind measurement
Wind shear exponent
Wind speed at 10 m
Average atmospheric pressure
Annual average temperature

m/s
m
m/s
kPa
C

Estimate
Scenario #2
Pincher Creek, AB
Wind speed
Lethbridge A, AB
7.0
10.0
0.15
7.0
90.7
6

System Characteristics
Grid type
Wind turbine rated power
Number of turbines
Wind plant capacity
Hub height
Wind speed at hub height
Array losses
Airfoil soiling and/or icing losses
Other downtime losses
Miscellaneous losses

kW
kW
m
m/s
%
%
%
%

Estimate
Central-grid
1,000
20
20,000
45.0
8.8
3%
2%
2%
3%

kW
MW
MWh
MWh
kWh/m
%
MWh
GJ

Estimate
Per Turbine
1,000
1.000
3,855
0.90
1.03
3,573
0.90
1,404
37%
3,229
11,625

Annual Energy Production

Wind plant capacity
Unadjusted energy production
Pressure adjustment coefficient
Temperature adjustment coefficient
Gross energy production
Losses coefficient
Specific yield
Wind plant capacity factor
Renewable energy delivered

Notes/Range
See Online Manual

See Weather Database

3.0 to 100.0 m
0.10 to 0.40
60.0 to 103.0 kPa
-20 to 30 C
Notes/Range
Complete Equipment Data sheet

6.0 to 100.0 m
0% to 20%
1% to 10%
2% to 7%
2% to 6%
Estimate
Total
20,000
20.000
77,097
0.90
1.03
71,469
0.90
1,404
37%
64,583
232,497

Notes/Range

0.59 to 1.02
0.98 to 1.15
0.75 to 1.00
150 to 1,500 kWh/m
20% to 40%

Complete Cost Analysis sheet

Version 3.0

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 2.xls

NRCan/CETC - Varennes

RETScreen Equipment Data - Wind Energy Project

Wind Turbine Characteristics
Wind turbine rated power
Hub height
Rotor diameter
Swept area
Wind turbine manufacturer
Wind turbine model
Energy curve data source

Estimate
1,000
45.0
54
2,300
Bonus Energy
AN BONUS 1 MW
User-defined

Wind speed
(m/s)
0
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

Power curve data

(kW)
0.0
0.0
0.0
0.0
24.1
69.3
130.0
219.1
333.5
463.1
598.1
730.0
846.5
928.8
972.6
990.8
997.2
999.2
999.8
999.9
1,000.0
1,000.0
1,000.0
1,000.0
1,000.0
1,000.0

kW
m
m
m

Notes/Range
See Product Database

6.0 to 100.0 m
7 to 80 m
35 to 5,027 m

Site specific

Wind Turbine Production Data

Energy curve data
(MWh/yr)
1,182.0
1,889.0
2,632.0
3,351.0
4,004.0
4,575.0
-

Power and Energy Curves

Energy

5,000
4,500
4,000
3,500
3,000
2,500
2,000
1,500
1,000
500
0

Power (kW)

1,000
800
600
400
200
0
0

10
12
14
16
Wind speed (m/s)

18

20

22

Energy (MWh/yr)

Power

1,200

24

Return to
Energy Model sheet
Version 3.0

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 2.xls

NRCan/CETC - Varennes

RETScreen Cost Analysis - Wind Energy Project

Type of project:
Initial Costs (Credits)
Feasibility Study
Site investigation
Wind resource assessment
Environmental assessment
Preliminary design
Detailed cost estimate
GHG baseline study and MP
Report preparation
Project management
Travel and accommodation
Sub-total:
Development
PPA negotiation
Permits and approvals
Land rights
Land survey
GHG validation and registration
Project financing
Legal and accounting
Project management
Travel and accommodation
Sub-total:
Engineering
Wind turbine(s) micro-siting
Mechanical design
Electrical design
Civil design
Tenders and contracting
Construction supervision

Search Marketplace

Custom

Currency:
Second currency:
Unit Cost

Unit

Quantity

p-d
met tower
p-d
p-d
p-d
project
p-d
p-d
p-trip

6.0
6
8.0
18.0
18.0

$
$
$
$
$

800
22,000
800
800
800

8.0
6.0
4

$
$
$

800
800
3,000

p-d
p-d
project
p-d
project
p-d
p-d
p-yr
p-trip

p-d
p-d
p-d
p-d
p-d
p-yr

20.0
250.0
1
50.0

$
$
$
$

1,200
800
30,000
600

100.0
100.0
1.25
18

$
$
$
$

1,500
1,200
130,000
3,000

175.0
100.0
150.0
90.0
110.0
0.85

$
$
$
$
$
$

800
800
800
800
800
130,000

Sub-total:
Energy Equipment
Wind turbine(s)
Spare parts
Transportation
Sub-total:
Balance of Plant
Wind turbine(s) foundation(s)
Wind turbine(s) erection
Road construction
Transmission line
Substation
Control and O&M building(s)
Transportation
Sub-total:
Miscellaneous
Training
Commissioning
Contingencies
Interest during construction
Sub-total:
Initial Costs - Total
Annual Costs (Credits)
O&M
Land lease
Property taxes
Insurance premium
Transmission line maintenance
Parts and labour
GHG monitoring and verification
Community benefits
Travel and accommodation
General and administrative
Contingencies
Annual Costs - Total
Periodic Costs (Credits)
Drive train
Blades
End of project life
Version 3.0

kW
%
turbine

turbine
turbine
km
km
project
building
project

p-d
p-d
%
6.0%

20,000
1.0%
20

20
20
3.00
8.50
1
1
1

40.0
50.0
5%
12 month(s)

$
$
$

$
$
$
$
$
$
$

$
$
$
$

1,000
20,000,000
33,000

78,000
52,000
50,000
70,000
2,055,000
125,000
68,000

800
800
28,101,200
29,506,260

Unit

Quantity

project
project
project
%
kWh
project
p-trip
%

1
1
1
3.0%
64,582,523

$
$
$
$
$

57,000
23,000
46,000
2,650,000
0.008

1
12
6%

$
$
$

15,000
3,000
773,160

10%

819,550

Cost
Cost

Period
10 yr
15 yr

Credit

$
Denmark
Amount
$
$
$
$
$
$
$
$
$
$
$

4,800
132,000
6,400
14,400
14,400
6,400
4,800
12,000
195,200

$
$
$
$
$
$
$
$
$
$
$

24,000
200,000
30,000
30,000
150,000
120,000
162,500
54,000
770,500

$
$
$
$
$
$
$
$

140,000
80,000
120,000
72,000
88,000
110,500
610,500

$
$
$
$
$

20,000,000
200,000
660,000
20,860,000

$
$
$
$
$
$
$
$
$

1,560,000
1,040,000
150,000
595,000
2,055,000
125,000
68,000
5,593,000

$
$
$
$
$
$

32,000
40,000
1,405,060
885,188
2,362,248
30,391,448

7.8%
100.0%

Amount

Relative Costs

Unit Cost

$
$

Unit Cost
1,000,000
1,000,000

$
Cost references:
DKK
Rate: $/DKK
Relative Costs Quantity Range

$
$
$
$
$
$
$
$
$
$
$
$

57,000
23,000
46,000
79,500
516,660
15,000
36,000
46,390
81,955
901,505

$
$
$
$

Amount
1,000,000
1,000,000
-

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004; WIND Scenario 2.xls

None
0.17900
Unit Cost Range

Quantity Range

Unit Cost Range

Interval Range
-

Unit Cost Range

-

0.6%

2.5%

2.0%

68.6%

18.4%

100.0%

Go to GHG Analysis sheet

NRCan/CETC - Varennes

RETScreen Greenhouse Gas (GHG) Emission Reduction Analysis - Wind Energy Project
Use GHG analysis sheet?
Potential CDM project?

Yes
No

Type of analysis:
Use simplified baseline methods?

Standard
No

Complete Financial Summary sheet

Background Information
Project Information
Project name
Project location

Scenario #2
Pincher Creek, AB

Project capacity
Grid type

20.0 MW
Central-grid

Global Warming Potential of GHG

21 tonnes CO2 = 1 tonne CH4
310 tonnes CO2 = 1 tonne N2O

(IPCC 1996)
(IPCC 1996)

Base Case Electricity System (Baseline)

Fuel type

Coal

Electricity mix

Fuel mix
(%)
100.0%

100%

CO2 emission
factor
(kg/GJ)
94.6

293.8

Does baseline change during project life?

CH4 emission
factor
(kg/GJ)
0.0020

N2O emission
factor
(kg/GJ)
0.0030

0.0062

0.0093

No

Fuel conversion
efficiency
(%)
35.0%

Change in GHG emission factor

T&D
losses
(%)
8.0%

8.0%

GHG emission
factor
(tCO2/MWh)
1.069
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
0.000
1.069

-20.0%

Proposed Case Electricity System (Wind Energy Project)

Fuel type

Electricity system
Wind

Fuel mix
(%)

CO2 emission
factor
(kg/GJ)

CH4 emission
factor
(kg/GJ)

N2O emission
factor
(kg/GJ)

Fuel conversion
efficiency
(%)

T&D
losses
(%)

GHG emission
factor
(tCO2/MWh)

100.0%

0.0

0.0000

0.0000

100.0%

8.0%

0.000

Base case
GHG emission
factor
(tCO2/MWh)
1.069

Proposed case
GHG emission
factor
(tCO2/MWh)
0.000

End-use
annual energy
delivered
(MWh)
59,416

Gross annual
GHG emission
reduction
(tCO2)
63,486

GHG credits
transaction
fee
(%)
0.0%

Net annual
GHG emission
reduction
(tCO2)
63,486

GHG Emission Reduction Summary

Years of
occurence

Electricity system

(yr)
1 to 4

Complete Financial Summary sheet

Version 3.0

United Nations Environment Programme & Minister of Natural Resources Canada 2000 - 2004.

20/07/2004; WIND Scenario 2.xls

UNEP/DTIE and NRCan/CETC - Varennes

RETScreen Financial Summary - Wind Energy Project

Annual Energy Balance
Project name
Project location
Renewable energy delivered
Excess RE available
Firm RE capacity
Grid type

Scenario #2
Pincher Creek, AB
MWh
64,583
MWh
kW
Central-grid

Peak load
Grid energy demand
Net GHG reduction
Net GHG reduction - yr 5 + beyond
Net GHG emission reduction - 25 yrs
Net GHG emission reduction - 25 yrs

kW
MWh
tCO2/yr
tCO2/yr
tCO2
tCO2

Central-grid
63,486
63,486
1,587,158
1,587,158

Financial Parameters
Avoided cost of energy
RE production credit
RE production credit duration
RE credit escalation rate
GHG emission reduction credit
GHG reduction credit duration
GHG credit escalation rate
Avoided cost of excess energy
Avoided cost of capacity
Energy cost escalation rate
Inflation
Discount rate
Project life

$/kWh
$/kWh
yr
%
$/tCO2
yr
%
$/kWh
$/kW-yr
%
%
%
yr

0.0450
0.025
25
2.5%
5.0
25
2.5%
120
3.0%
2.5%
9.0%
25

Debt ratio
Debt interest rate
Debt term
Income tax analysis?
Effective income tax rate
Loss carryforward?
Depreciation method
Depreciation tax basis
Depreciation rate
Depreciation period
Tax holiday available?
Tax holiday duration

%
%
yr

70.0%
8.5%
15

yes/no
No
%
35.0%
yes/no
Yes
Declining balance
%
95.0%
%
30.0%
yr
15
yes/no
No
yr
5

Project Costs and Savings

Initial Costs
Feasibility study
Development
Engineering
Energy equipment
Balance of plant
Miscellaneous
Initial Costs - Total

0.6%
2.5%
2.0%
68.6%
18.4%
7.8%
100.0%

$
$
$
$
$
$
$

195,200
770,500
610,500
20,860,000
5,593,000
2,362,248
30,391,448

Incentives/Grants

Periodic Costs (Credits)

# Drive train
# Blades
#
End of project life - Credit

$
$
$
$

1,000,000
1,000,000
-

%
%
yr
yr
$
$
-

22.8%
22.8%
7.7
5.2
19,534,240
1,988,708
3.14

Annual Costs and Debt

O&M
Fuel/Electricity
Debt payments - 15 yrs
Annual Costs and Debt - Total

$
$
$
$

901,505
2,561,827
3,463,331

Annual Savings or Income

Energy savings/income
Capacity savings/income
RE production credit income - 25 yrs
GHG reduction income - 25 yrs
Annual Savings - Total

$
$
$
$
$

2,906,214
1,614,563
317,432
4,838,208

Schedule yr # 10,20
Schedule yr # 15
Schedule yr # 0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0
Schedule yr # 25

Financial Feasibility
Pre-tax IRR and ROI
After-tax IRR and ROI
Simple Payback
Year-to-positive cash flow
Net Present Value - NPV
Annual Life Cycle Savings
Benefit-Cost (B-C) ratio
Version 3.0

Calculate energy production cost?

Energy production cost
Calculate GHG reduction cost?
GHG emission reduction cost
Project equity
Project debt
Debt payments
Debt service coverage

yes/no
$/kWh
yes/no
$/tCO2
$
$
$/yr
-

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004;WIND Scenario 2.xls

No
0.0722
No
Not calculated
9,117,434
21,274,013
2,561,827
1.58

Yearly Cash Flows

Year
Pre-tax
#
$
0
(9,117,434)
1
1,487,826
2
1,604,034
3
1,723,596
4
1,846,610
5
1,973,176
6
2,103,397
7
2,237,378
8
2,375,230
9
2,517,064
10
1,382,911
11
2,813,145
12
2,967,633
13
3,126,588
14
3,290,137
15
2,010,118
16
6,193,388
17
6,371,540
18
6,554,847
19
6,743,456
20
5,298,906
21
7,137,205
22
7,342,668
23
7,554,077
24
7,771,608
25
7,995,436
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
-

After-tax
$
(9,117,434)
1,487,826
1,604,034
1,723,596
1,846,610
1,973,176
2,103,397
2,237,378
2,375,230
2,517,064
1,382,911
2,813,145
2,967,633
3,126,588
3,290,137
2,010,118
6,193,388
6,371,540
6,554,847
6,743,456
5,298,906
7,137,205
7,342,668
7,554,077
7,771,608
7,995,436
-

Cumulative
$
(9,117,434)
(7,629,609)
(6,025,575)
(4,301,979)
(2,455,368)
(482,192)
1,621,205
3,858,583
6,233,813
8,750,876
10,133,787
12,946,932
15,914,565
19,041,153
22,331,291
24,341,408
30,534,796
36,906,336
43,461,183
50,204,639
55,503,545
62,640,750
69,983,418
77,537,495
85,309,103
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539
93,304,539

NRCan/CETC - Varennes

RETScreen Financial Summary - Wind Energy Project

Cumulative Cash Flows Graph

Wind Energy Project Cumulative Cash Flows

Scenario #2, Pincher Creek, AB
Renewable energy delivered (MWh/yr): 64,583

Total Initial Costs:

30,391,448

Net GHG emissions reduced (tCO2/yr): 63,486

100,000,000

Cumulative Cash Flows ($)

80,000,000

60,000,000

40,000,000

20,000,000

0
0

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

(20,000,000)
Years

IRR and ROI: 22.8%

Version 3.0

Year-to-positive cash flow: 5.2 yr

Minister of Natural Resources Canada 1997 - 2004.

20/07/2004;WIND Scenario 2.xls

Net Present Value: $ 19,534,240

NRCan/CETC - Varennes