Large Scale Solar PV

Competitive Round

Nominal LCOE Template

Version 4.0
This template has been created to allow the proponent to provide financial information relating to the proposed Large
Scale Solar PV Competitive Round
The template information will be used by ARENA to assist in the assessment of proponent proposals. This document
should not be used for any other purpose.

Instructions to complete the template

1) Complete the requested information in all relevant worksheets and any assumption cells that are formatted in [light grey]
2) Complete any rows that are labelled 'Spare' if applicable
3) Note the explanatory information regarding certain lines formatted in [blue]
4) 'P50 and P90' probabilities are used in this template
5) Refer to Glossary, LCOE Assumptions or Guidelines documentation for definitions
6) Please complete all costs in 'AUD' currency unless specified otherwise
7) Please add source references where available and applicable
8) Please read LCOE assumptions carefully before completing the template
9) All information and prices are to be provided on a nominal basis (unless specified otherwise)

For further information, please visit www.arena.gov.au/large-scale-solar-pv

.
ABC Pty Ltd
1 Overview

1.01 Background Details

Applicant details
Company Name
Contact
Phone
Email

1.02 Project timing

The project commencement date is expected to align with Project Financial

Close. The construction start end date relates to the latest date of construction
prior to operations commencing

Project Commencement Date dd mmm yy

Construction end date dd mmm yy

Subject to independent verification of operational life

Operations start date dd mmm yy

Period of Operation Years

Comments: [Please provide further detail on construction and operations timing

should it be required]

END
ABC Pty Ltd
John Smith
(02) 9200 0000
john.smith@solarpv.com.au

1 Jan 17
31 Dec 17

1 Jan 18
25.0
ABC Pty Ltd
2 Project Capital Inputs

2.01 Project Timing

Period start 1 Jan 17

Period end 31 Dec 17
Year of Construction Year 1
Year of Operations -

2.02 Delivery Costs

Please complete the relevant items under 'Delivery Costs'. Delivery cost breakdown will be determined
by the chosen Delivery Model eg. Build Own Operate, Multi-Contract or Engineering, Procurement and
Construction (EPC). If cost is not relevant to the Delivery Model, then populate the relevant items under
'Construction costs' or 'Development costs. 'Please use 'Spare' rows if applicable. All costs to be
presented on a nominal basis.

Delivery Costs Total

Modules ($m) -
Mountings ($m) -
Power Converters ($m) -
Civil Works ($m) -
Engineering ($m) -
Electrical works including communications ($m) -
Margin ($m) -
Non-Developer Contingency ($m) -
SpareDeliveryCost1 ($m) -
SpareDeliveryCost2 ($m) -
SpareDeliveryCost3 ($m) -
SpareDeliveryCost4 ($m) -
Total Delivery Costs - -

Source: [please add source and basis of costings, where available eg. Quote from XYZ]

2.03 Project Capital Costs

Please complete the relevant items under 'Project Capital Costs', excluding any costs presented under
'Delivery Costs' at Section 2.02. Please use 'Spare' rows if applicable. All costs to be presented on a
nominal basis. All relevant pre-development costs incurred prior to the Project Commencement Date
are assumed to be expended in Construction Year 1

Project Capital Costs Total

Other Construction and Capital Costs

Delivery Costs [refer Section 2.02] ($m) - -
Connection costs ($m) -
Site costs ($m) -
Insurance ($m) -
Inverter Replacement costs ($m) -
Other Maintenance Capex ($m) -
SpareOtherConstructionCost1 ($m) -
SpareOtherConstructionCost2 ($m) -
SpareOtherConstructionCost3 ($m) -
SpareOtherConstructionCost4 ($m) -
Total Other Construction and Capital Costs - -

Source: [please add source and basis of costings, where available eg. Quote from XYZ]

Development Costs
Legal fees ($m) -
Admin costs ($m) -
 Pre-Development costs ($m) -
Owners Engineer / Independent Certifier ($m) -
Advisory Fees ($m) -
SpareDevelopmentCosts1 ($m) -
SpareDevelopmentCosts2 ($m) -
SpareDevelopmentCosts3 ($m) -
SpareDevelopmentCosts4 ($m) -
Total Development Costs ($m) - -

Total Project Capital Cost ($m) - -

Source: [please add source and basis of costings, where available eg. Quote from XYZ]

END
 1 Jan 18 1 Jan 19 1 Jan 20 1 Jan 21 1 Jan 22 1 Jan 23 1 Jan 24 1 Jan 25 1 Jan 26
31 Dec 18 31 Dec 19 31 Dec 20 31 Dec 21 31 Dec 22 31 Dec 23 31 Dec 24 31 Dec 25 31 Dec 26
- - - - - - - - -
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9

- - - - - - - - -

- - - - - - - - -

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

- - - - - - - - -
 1 Jan 27 1 Jan 28 1 Jan 29 1 Jan 30 1 Jan 31 1 Jan 32 1 Jan 33 1 Jan 34 1 Jan 35
31 Dec 27 31 Dec 28 31 Dec 29 31 Dec 30 31 Dec 31 31 Dec 32 31 Dec 33 31 Dec 34 31 Dec 35
- - - - - - - - -
Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18

- - - - - - - - -

- - - - - - - - -

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

- - - - - - - - -
 1 Jan 36 1 Jan 37 1 Jan 38 1 Jan 39 1 Jan 40 1 Jan 41 1 Jan 42 1 Jan 43 1 Jan 44
31 Dec 36 31 Dec 37 31 Dec 38 31 Dec 39 31 Dec 40 31 Dec 41 31 Dec 42 31 Dec 43 31 Dec 44
- - - - - - - - -
Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27

- - - - - - - - -

- - - - - - - - -

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

- - - - - - - - -
 1 Jan 45 1 Jan 46 1 Jan 47 1 Jan 48 1 Jan 49 1 Jan 50 1 Jan 51
31 Dec 45 31 Dec 46 31 Dec 47 31 Dec 48 31 Dec 49 31 Dec 50 31 Dec 51
- - - - - - -
Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34

- - - - - - -

- - - - - - -

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

- - - - - - -
ABC Pty Ltd
3 Project Operational Inputs

3.01 Project Timing

Period start 1 Jan 17

Period end 31 Dec 17
Year of Construction Year 1
Year of Operations -

3.02 Operational Costs

Please complete the relevant items under 'Operational Costs'. Please use 'Spare' rows if applicable. All
costs to be presented on a nominal basis.

Inflation rate assumption %

Operational Costs Total

O&M ($m) -
Insurance ($m) -
Site Costs ($m) -
Transmission Costs ($m) -
Guarantee Costs ($m) -
Management Services ($m) -
SpareOpCost1 ($m) -
SpareOpCost2 ($m) -
SpareOpCost3 ($m) -
SpareOpCost4 ($m) -
Total Operational Costs - -

Source: [please add source and basis of costings, where available eg. Quote from XYZ]

END

1
- -
 1 Jan 18 1 Jan 19 1 Jan 20 1 Jan 21 1 Jan 22 1 Jan 23 1 Jan 24 1 Jan 25 1 Jan 26
31 Dec 18 31 Dec 19 31 Dec 20 31 Dec 21 31 Dec 22 31 Dec 23 31 Dec 24 31 Dec 25 31 Dec 26
- - - - - - - - -
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9

- - - - - - - - -

1 1 1 1 1 1 1 1 1
- - - - - - - - -
 1 Jan 27 1 Jan 28 1 Jan 29 1 Jan 30 1 Jan 31 1 Jan 32 1 Jan 33 1 Jan 34 1 Jan 35
31 Dec 27 31 Dec 28 31 Dec 29 31 Dec 30 31 Dec 31 31 Dec 32 31 Dec 33 31 Dec 34 31 Dec 35
- - - - - - - - -
Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18

- - - - - - - - -

1 1 1 1 1 1 1 1 1
- - - - - - - - -
 1 Jan 36 1 Jan 37 1 Jan 38 1 Jan 39 1 Jan 40 1 Jan 41 1 Jan 42 1 Jan 43 1 Jan 44
31 Dec 36 31 Dec 37 31 Dec 38 31 Dec 39 31 Dec 40 31 Dec 41 31 Dec 42 31 Dec 43 31 Dec 44
- - - - - - - - -
Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27

- - - - - - - - -

1 1 1 1 1 1 1 - -
- - - - - - - - -
 1 Jan 45 1 Jan 46 1 Jan 47 1 Jan 48 1 Jan 49 1 Jan 50 1 Jan 51
31 Dec 45 31 Dec 46 31 Dec 47 31 Dec 48 31 Dec 49 31 Dec 50 31 Dec 51
- - - - - - -
Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34

- - - - - - -

- - - - - - -
- - - - - - -
ABC Pty Ltd
4 Project Generation Inputs

4.01 Project Timing

Period start 1 Jan 17

Period end 31 Dec 17
Year of Construction Year 1
Year of Operations -

4.02 Generation

Please complete the relevant generation items. 'Annual Generation Volumes' should reflect part year
generation where applicable. Only the MLF Gross Up Generation will be used for LCOE calculation
purposes, however all generation lines must be completed

Nominal Power - AC (MW)

Nominal Power - DC (MW)

Average degradation rate assumption (25 years) %

Average availability rate assumption (25 years) %
Average MLF
Global Horizontal Irradiation assumption (kWh/m2)

Annual Generation Volumes Total

P50 - AC Generation sent out - MLF Gross Up (GWh) -

Source: [please add source of data]

P50 - AC Generation sent out (GWh) -

P90 - AC Generation sent out (GWh) -

Source: [please add source of data]

END

1
- -
 1 Jan 18 1 Jan 19 1 Jan 20 1 Jan 21 1 Jan 22 1 Jan 23 1 Jan 24 1 Jan 25 1 Jan 26
31 Dec 18 31 Dec 19 31 Dec 20 31 Dec 21 31 Dec 22 31 Dec 23 31 Dec 24 31 Dec 25 31 Dec 26
- - - - - - - - -
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9

1 1 1 1 1 1 1 1 1
- - - - - - - - -
 1 Jan 27 1 Jan 28 1 Jan 29 1 Jan 30 1 Jan 31 1 Jan 32 1 Jan 33 1 Jan 34 1 Jan 35
31 Dec 27 31 Dec 28 31 Dec 29 31 Dec 30 31 Dec 31 31 Dec 32 31 Dec 33 31 Dec 34 31 Dec 35
- - - - - - - - -
Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18

1 1 1 1 1 1 1 1 1
- - - - - - - - -
 1 Jan 36 1 Jan 37 1 Jan 38 1 Jan 39 1 Jan 40 1 Jan 41 1 Jan 42 1 Jan 43 1 Jan 44
31 Dec 36 31 Dec 37 31 Dec 38 31 Dec 39 31 Dec 40 31 Dec 41 31 Dec 42 31 Dec 43 31 Dec 44
- - - - - - - - -
Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27

1 1 1 1 1 1 1 - -
- - - - - - - - -
 1 Jan 45 1 Jan 46 1 Jan 47 1 Jan 48 1 Jan 49 1 Jan 50 1 Jan 51
31 Dec 45 31 Dec 46 31 Dec 47 31 Dec 48 31 Dec 49 31 Dec 50 31 Dec 51
- - - - - - -
Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34

- - - - - - -
- - - - - - -
ABC Pty Ltd
5 Calculation Outputs and Sensitivities

5.01 LCOE

Outputs automatically calculated. Discount rate not adjustable.

Discount Rate (%)

Discounted Production (GWh)
Discounted Opex ($m)
Discounted Capex ($m)
LCOE ($/MWh)

5.02 Calculated Comps

Outputs automatically calculated. Year 1 refers to the first year with 12 months of Generation.

Project Cost - AC ($/MW)

Project Cost - DC ($/MW)

Operating Costs - AC (Year 1) ($/MWh)

Operating Costs - AC (25 years) ($/MWh)

Capacity Factor Calculated - AC (Year 1) (%)

Capacity Factor Calculated - AC (25 years) (%)

5.03 Foreign currency composition

Please complete the currency weightings and assumed currency rates for the total of the construction capital costs as adopted in the applica
documents. Please replace CCY with the appropriate currencies.

Currency AUD CCY

Base Rate AUD 1.00
Weighting of construction capital costs (%)

5.04 Foreign currency sensitivities

The following sensitivities must be provided:

1. Base (Applicant base case as reflected in application documents): LCOE calculation per template; ARENA $/MW input at currency base r
2. Overall +5% (exchange rate movement): LCOE and ARENA $/MWh estimate at a 5% overall positive movement in FX rates against curre
rates
3. Overall -5% (exchange rate movement): LCOE and ARENA $/MWh estimate at a 5% overall negative movement in FX rates against curre
rates
4. EOI standardised rate (exchange rate at EOI opening): LCOE and ARENA $/MWh estimate based on FX rates as at EOI opening date as
published rates

FX Sensitivity range Base +5%

LCOE #DIV/0!
ARENA $/MWh

For RBA published exchange rates, please visit www.rba.gov.au/statistics/frequency/exchange-rates.html

END
 10%
-
-
-
#DIV/0!

Check
Check

Check
Check

Check
Check

al costs as adopted in the application

CCY CCY

NA $/MW input at currency base rates

ovement in FX rates against currency base

ovement in FX rates against currency base

X rates as at EOI opening date as per RBA

-5% EOI
ABC Pty Ltd
6 LCOE Assumptions

6.01 LCOE

LCOE Metrics Included Excluded

Connection costs x
Transmission costs x
Delivery costs x

Margins and Contingencies x x

Pre-development costs x
Developer Fees x
Financing costs x
Developer contingencies x
Inverter replacement x
Other Maintenance Capex x
Decommissioning Costs x
Site Costs x
Tax x
Depreciation/Amortisation x
Degradation x
Knowledge Sharing Costs x
MLF x

Discount Rate 10% discount rate is applied to all projects irrespective of capital struct
Generation Sent Out Measured at the generator connection point, represents only the electr
Generator connection point The metered connection point at the fence
Nominal All costs should be provided on a nominal basis. The inflation assumpt

Comments: [please provide additional commentary if required]

End
 Commentary
All capital costs associated with connection to the NEM or SWIS
All operating costs associated with the transmission of electricity to the NEM or SWIS
All costs associated with the Delivery Model applied to construction, eg EPC costs.
Developer margins and contingencies are NOT included except in the case of EPC Developers, which must include an arms length EPC margin/conting
Detail should be provided in the comment box provided
Third party pre-development costs directly attributable to the project should be included
All non-EPC developer fees should be excluded, including developer profits
All costs related to financing (upfront and ongoing) should be excluded
All developer contingencies, except EPC developers which are to be included in the EPC costs, should be excluded
Ongoing capex for inverter replacement is included
All other maintenance capex relates to all non O&M ongoing capex
Decommissioning or site rehabilitation costs are not included
All costs (upfront and ongoing) associated with the purchase or possession of land for the site are included
All taxes and tax structuring arrangements are excluded
Depreciation or amortisation charges are excluded
Panel degradation should be included in generation
All costs related to ARENA's knowledge sharing requirements are excluded
P50 Generation should be grossed up to account for Marginal Loss Factors as would be the case if Generation were revenue

t rate is applied to all projects irrespective of capital structure or Applicant cost of capital
the generator connection point, represents only the electricty supplied to the market, excludes auxilliary loads
connection point at the fence
uld be provided on a nominal basis. The inflation assumption adopted should be disclosed within section notes
ABC Pty Ltd
7 Glossary

7.01 Glossary

AC
ARENA $/MWh
Capex
CCY
CPI
DC
EOI
EPC
FX
GWh
LCOE
MLF
MW
MWh
NEM
O&M
Operations Start Date
Opex
Project Commencement Date
PV
P50
P90
RBA
SWIS

End
Alternating Current
Total ARENA Funding divided by total P50 Generation Sent Out over 25 years
Capital expenditure
Currency
Consumer Price Index
Direct Current
Expression of Interest
Engineering, Procurement and Construction
Foreign Exchange
GWh means one gigawatt hour of electricity, the unit of electrical energy.
Levelised Cost of Electricity calculated over 25 years of P50 generation (sent out) at a pre-tax, mid-period, discount rate of 10%
Marginal loss factor
MW means one megawatt, the unit of electrical power.
MWh means one megawatt hour of electricity, the unit of electrical energy.
National Electricity Market
Operations and Maintenance
Project commissioning date as defined in the ARENA Funding Agreement
Operational Expenditure
The project financial close date as defined in the ARENA Funding Agreement
Photovoltaic
The forecast probability of performance at, or above, 50% i.e. 50% probability that the level of energy output will be exceeded
The forecast probability of performance at, or above, 90% i.e. 90% probability that the level of energy output will be exceeded
Reserve Bank of Australia
South West Interconnected System
ABC Pty Ltd
8 Timeline controls

8.01 Project Timing

Period start 1 Jan 17

Mid Point 1 Jul 17
Period end 31 Dec 17
Year of Construction Year 1
Year of Operations -
Timing Control 1
Construction Years 1
Generation Years -
Days in Year 365
Generation Days in Year -
First Full Year Generation -
Part Year 1 Generation -
Part Year 26 Generation -
LCOE Multiplier 1.0

8.02 LCOE Timing Inputs

Total
Capital Costs ($m) - -
Operational Costs ($m) - -
Generation - MLF Gross Up (GWh) - -

8.03 Other Timing Inputs

Generation - P50 No Gross Up (GWh) - -

END
 1 Jan 18 1 Jan 19 1 Jan 20 1 Jan 21 1 Jan 22 1 Jan 23 1 Jan 24 1 Jan 25 1 Jan 26
1 Jul 18 1 Jul 19 1 Jul 20 1 Jul 21 1 Jul 22 1 Jul 23 1 Jul 24 1 Jul 25 1 Jul 26
31 Dec 18 31 Dec 19 31 Dec 20 31 Dec 21 31 Dec 22 31 Dec 23 31 Dec 24 31 Dec 25 31 Dec 26
- - - - - - - - -
Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9
1 1 1 1 1 1 1 1 1
- - - - - - - - -
1 1 1 1 1 1 1 1 1
365 365 366 365 365 365 366 365 365
365 365 366 365 365 365 366 365 365
1 - - - - - - - -
- - - - - - - - -
- - - - - - - - -
1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

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

- - - - - - - - -
 1 Jan 27 1 Jan 28 1 Jan 29 1 Jan 30 1 Jan 31 1 Jan 32 1 Jan 33 1 Jan 34 1 Jan 35
1 Jul 27 1 Jul 28 1 Jul 29 1 Jul 30 1 Jul 31 1 Jul 32 1 Jul 33 1 Jul 34 1 Jul 35
31 Dec 27 31 Dec 28 31 Dec 29 31 Dec 30 31 Dec 31 31 Dec 32 31 Dec 33 31 Dec 34 31 Dec 35
- - - - - - - - -
Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18
1 1 1 1 1 1 1 1 1
- - - - - - - - -
1 1 1 1 1 1 1 1 1
365 366 365 365 365 366 365 365 365
365 366 365 365 365 366 365 365 365
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0

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

- - - - - - - - -
 1 Jan 36 1 Jan 37 1 Jan 38 1 Jan 39 1 Jan 40 1 Jan 41 1 Jan 42 1 Jan 43 1 Jan 44
1 Jul 36 1 Jul 37 1 Jul 38 1 Jul 39 1 Jul 40 1 Jul 41 1 Jul 42 1 Jul 43 1 Jul 44
31 Dec 36 31 Dec 37 31 Dec 38 31 Dec 39 31 Dec 40 31 Dec 41 31 Dec 42 31 Dec 43 31 Dec 44
- - - - - - - - -
Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27
1 1 1 1 1 1 1 - -
- - - - - - - - -
1 1 1 1 1 1 1 - -
366 365 365 365 366 365 365 365 366
366 365 365 365 366 365 365 365 366
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
1.0 1.0 1.0 1.0 1.0 1.0 1.0 - -

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

- - - - - - - - -
 1 Jan 45 1 Jan 46 1 Jan 47 1 Jan 48 1 Jan 49 1 Jan 50 1 Jan 51
1 Jul 45 1 Jul 46 1 Jul 47 1 Jul 48 1 Jul 49 1 Jul 50 1 Jul 51
31 Dec 45 31 Dec 46 31 Dec 47 31 Dec 48 31 Dec 49 31 Dec 50 31 Dec 51
- - - - - - -
Year 28 Year 29 Year 30 Year 31 Year 32 Year 33 Year 34
- - - - - - -
- - - - - - -
- - - - - - -
365 365 365 366 365 365 365
365 365 365 366 365 365 365
- - - - - - -
- - - - - - -
- - - - - - -
- - - - - - -

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

- - - - - - -
ABC Pty Ltd
9 Tables

9.01 Tables

9.02 Constants

One 1.0
Zero -
Sheet units 100.0
Section units 1.0
Sub-section units 0.0

Number of days in a year 365.3

Number of months in a year 12.0
Number of months in a quarter year 3.0
Months in a period 12.0
Financial year end month number 6.0

Financial units $
Period of TFG reduction (years) 25.0
Operating included in LCOE Yes

END