Partial Risk Guarantee for Energy Efficiency

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 Partial Risk Guarantee for Energy Efficiency

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 Partial Risk Guarantee for Energy Efficiency

Instruction to Applicant
Please insert Name of your company
Please insert type of project: New Project, Expansion of project, Diversification,
modernisation of project. Please specify the name of project also for eg. Street Light or
replacement of incandescent lamp with T5 tube light
Installed capacity of the project in kW
Load factor - Its a measure of the output of a project compared to the maximum output
it could produce.

Total Project Cost: Project Cost includes cost of Fixed assets such as Plant & Machinery,
Land, building etc., any contingency expense, Interest during construction, Preliminary &
Preoperative exp. incurred during the installation of the project
Equity Contribution % - Own fund infused by the promoters of the company
Debt Funding %: Debt/ Loan taken from bank or financial institution for this particular
project
Rate of Interest on Debt/ Working Capital: Rate at which the project company has
availed loan from Financial Institution or Bank for this project

Construction Period: Period or time for commencement/ Implementation of the project

Moratorium Period: A moratorium period is a time during the loan term when the
borrower is not required to make any repayment. It is a waiting period before which
repayment by way of EMIs begins
Total Tenure of Loan: No. of years/ Months/ Days for which the loan has been taken
from Financial Institution of Bank
Principal Repayment Period: Period in which repayment would be spread for example
loan will be repaid in 20 months
Power saved through Energy Efficiency: Number of units saved (kWh) through Energy
Efficiency
Reduction in Energy Efficiency: factor considered year on year to reduce the savings
through Energy Efficiency
Tariff for Power: Per unit rate of power for the particular category for eg. Domestic,
Commercial, Industrial, Street Light determined by State Electricity Regulatory
Commission (SERC)

Annual Increase in tariff: Assumption to project power rate for defined life of the project
Number of Working Days of project in a year: eg. A street light would operate for 365
Days in a year
Number of Hours in a day: Total number of hours in a day when the project would run
for eg. A street light would operate for 10 hrs in a day
Operations & Maintenance Cost: The cost incurred in operation and maintenance of the
project
Insurance Cost: Cost incurred to insure the project which may affect the operations of
the project
Average Cost of Material: Cost of consumables for the project

Personal Cost: Includes manpower cost at various level to run the project for eg. Salary
cost of Plant Manager, Maintenance Manager, Shift Supervisor, Foreman, Technicians/
Instrumentation, Helpers, Administrative & Management Staff, General Manager etc.

Administrative Cost: day to day cost for running the project like Printing & Stationery,
Postage & Telephone, Travelling & Conveyance, Legal & Other Professional Charges etc.
 Partial Risk Guarantee for Energy Efficiency

MAT Rate: its a tax that has to be paid by the companies that are enjoying tax benefits
or tax exemption under various schemes
Corporate Tax Rate: considered as per income tax department of India
Method of Depreciation: Method of charging depreciation on fixed assets value of the
project
Working capital Assessment: capital used in day-to-day operations of a business/
project. Cost of Material, Operating and maintenance cost, insurance cost, personal cost,
administrative cost are required to run the project
Contingencies: amount kept aside as cash reserve to meet the contingencies in capital
(assumed)
NPV Discounting rate: it represents the time value of money

Risk Free Rate of Return: The risk-free rate represents the interest an investor would
expect from an absolutely risk-free investment over a specified period of time, here
average 10 years Government of India Securities rate have been considered
Beta: A measure of the volatility, or systematic risk, of a security or a portfolio in
comparison to the market as a whole.
Expected Return on Market Index: considered on 20 year average of BSE Sensex annual
return
Environment Cost: Assumed as 1% of total project cost. It is the cost to environment for
eg. the cost born for disposing off incandescent bulb after replacement with energy
efficient lights
Installed capacity of the proposed system
Total Number of systems to be installed
Capital Cost sheet, insert the capital investment required for the project
 Partial Risk Gurantee for Energy Efficiency

PROJECT FINANCIAL MODEL

Name of the Company Darashaw & Co.
Type of Power Project Shirdi Nagar Panchyat Street Light
Load Factor =PLF
Installed Capacity (kW) 114.00
Load Factor for ops days Y1 100% 1.00
Y2 100% 1.00
Y3+ 100% 1.00

All Amounts in INR

All Denominations Lacs
Currency Conversion (USD/ INR) -

Total Project Cost 129.40 INR Lacs

Equity Contribution (%) 40%
Debt Funding (%) 60%

Promoters' Contribution 54 INR Lacs

Term Loan from Banks 75.26 INR Lacs

Rate of Interest on Debt/ Working Capital 12.50% SBI rate

Construction Period (months) 3 0.25
Moratorium Period (months) 3
Total Moratorium Period (months)
Total Tenure of Loan (months) 60
Principal Repayment Period (months) 60

Power saved through Energy Efficiency 529.64 000 kWh

Reduction in Energy Efficiency - Per year

Tariff for Power (Rs./ Unit) 4.9

Annual Increase in tariff 3%

Number of Working Days in a year 365

Number of Hours in a day 12

Operations & Maintenance Cost 0.75%

(Percentage of Total Project Cost)
Annual Increase 5.00%

Insurance Cost 0.75%

(Percentage of Total Project Cost)
Annual Increase 1.00%

Average Cost of Material 1.00 INR Lakhs

(Average cost of Consumables during the year)

PERSONNEL COSTS # of Workers Monthly Remun

Plant Staff INR

Maintenance Manager 1 20,000.00

Superviser 2 15,000.00
Foreman 2 12,000.00
Technicans/Instrumentation 3 12,000.00
Helpers 4 8,000.00
Any other 2 6000
 Partial Risk Gurantee for Energy Efficiency

PROJECT FINANCIAL MODEL

Administrative & Management Staff
General Manager 1 -
Company Secteary cum Finance manager 1 -
Accounts Officer 1 10,000.00
 Partial Risk Gurantee for Energy Efficiency

PROJECT FINANCIAL MODEL

ADMINISTRATIVE COSTS No. of Offices Annual Expense
Printing & Stationery 1 0.06
Postage & Telephone 1 0.23
Travelling & Conveyance 1 0.23
Legal & Other Professional Charges 1 -
Rents, Rates & Taxes 1

Miscellaneous Expenses 0 -

Rate for Taxation (MAT) 20.96% Minimum Alternate Tax

Basic Tax Rate
Surcharge

Education cess/
Secondary &
Higher
Education cess

Corporate Tax Rate 33.990% Corporate Tax Rate

Basic Tax Rate
Surcharge

Education cess/
Secondary &
Higher
Education cess

Method of Depreciation SLM

Rates of Depreciation SLM WDV
Building 0.016 0.050
Plant & Machinery 0.053 0.153
Equipments 0.053 0.153

Working Capital Margins

Time (mnths)
Current Liabilities
Cost of Material 1
Operating & Maintenance Cost 1
Insurance Cost 1
Personnel Cost 1
Administrative Cost 1

Contingencies 5.00%

NPV Discounting rate 14.50% 9.57%

 Partial Risk Gurantee for Energy Efficiency

ANCIAL MODEL

t Street Light

Construction Period (Years)

Annual Increase

10% 30%
10% 5%
10% 5%
10%
10% 5%
10%
 Partial Risk Gurantee for Energy Efficiency

ANCIAL MODEL
10%
10% 25%
10% 15%
10% 15%
 Partial Risk Gurantee for Energy Efficiency

ANCIAL MODEL
Ann Increase
0% 10%
0% 20%
2% 40%
2% 30%
0%

0%

um Alternate Tax
18.50%
10.00%

3.00%

ate Tax Rate

30%
10%

3%

SLM

(Post tax Calculation)

 Partial Risk Gurantee for Energy Efficiency

Annexure -2

TARIFF RATE & STRUCTURE

Applicable Tariff:

Tariff
Year FY Ending
1 2014 4.92
2 2015 5.07
3 2016 5.22
4 2017 5.38
5 2018 5.54
6 2019 5.70
7 2020 5.87
8 2021 6.05
9 2022 6.23
10 2023 6.42
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

PROJECT COST

Amount In INR Lacs

SL NO. PARTICULARS AMOUNT
1 Land 0
2 Building 0
3 Plant & Machinery 117
4 Others (Specify) 5
* PROJECT COST 122

5 Contingencies 5.85
6 Interest During Construction 1.55
7 Preliminary & Preoperative Exp 0.000
TOTAL CAPITAL COST 129.40

MEANS OF FINANCE

A Promoters' Contribution 54.14

B Term Loan from Banks 75.26

TOTAL PROJECT COST 129.40

Months Total Amount 1

Building - -
Plant & Machinery 73.71 24.57
Total 73.71 24.57

Interest During Construction

1
Opening Balance -
Additions 24.57
Net Balance 24.57
Interest During Construction (IDC) 0.26
Closing Balance 24.83

Total IDC 1.55

IDC Allocaton 1
IDC on Building -
IDC on Plant & Machinery 0.26

Months Total Amount 1

Building Plus Contingency - -
Plant & Machinery Plus Contingency 127.85 42.62
Total 127.85 42.62
 Partial Risk Gurantee for Energy Efficiency

36

42%
58%

2 3 4 5 6 7 8 9 10
- - - - - - - - -
24.57 24.57 - - - - - - -
24.57 24.57 - - - - - - -

2 3 4 5 6 7 8 9 10
24.83 49.91 75.26 75.26 75.26 75.26 75.26 75.26 75.26
24.57 24.57 - - - - - - -
49.40 74.48 75.26 75.26 75.26 75.26 75.26 75.26 75.26
0.51 0.78 - - - - - - -
49.91 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

2 3 4 5 6 7 8 9 10
- - - - - - - - -
0.51 0.78 - - - - - - -

2 3 4 5 6 7 8 9 10
- - - - - - - - -
42.62 42.62 - - - - - - -
42.62 42.62 - - - - - - -
Partial Risk Gurantee for Energy Efficiency
 Partial Risk Gurantee for Energy Efficiency

11 12 13 14 15 16 17 18 19
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

11 12 13 14 15 16 17 18 19
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

11 12 13 14 15 16 17 18 19
- - - - - - - - -
- - - - - - - - -

11 12 13 14 15 16 17 18 19
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
 Partial Risk Gurantee for Energy Efficiency

20 21 22 23 24 25 26 27 28
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

20 21 22 23 24 25 26 27 28
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

20 21 22 23 24 25 26 27 28
- - - - - - - - -
- - - - - - - - -

20 21 22 23 24 25 26 27 28
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
 Partial Risk Gurantee for Energy Efficiency

29 30 31 32 33 34 35 36 37
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

29 30 31 32 33 34 35 36 37
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

29 30 31 32 33 34 35 36 37
- - - - - - - - -
- - - - - - - - -

29 30 31 32 33 34 35 36 37
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
 Partial Risk Gurantee for Energy Efficiency

38 39 40 41 42 43 44 45 46
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

38 39 40 41 42 43 44 45 46
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

38 39 40 41 42 43 44 45 46
- - - - - - - - -
- - - - - - - - -

38 39 40 41 42 43 44 45 46
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
 Partial Risk Gurantee for Energy Efficiency

47 48 49 50 51 52 53 54 55
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -

47 48 49 50 51 52 53 54 55
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26
- - - - - - - - -
75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26 75.26

47 48 49 50 51 52 53 54 55
- - - - - - - - -
- - - - - - - - -

47 48 49 50 51 52 53 54 55
- - - - - - - - -
- - - - - - - - -
- - - - - - - - -
 Partial Risk Gurantee for Energy Efficiency

56 57 58 59 60
- - - - -
- - - - -
- - - - -

56 57 58 59 60
75.26 75.26 75.26 75.26 75.26
- - - - -
75.26 75.26 75.26 75.26 75.26
- - - - -
75.26 75.26 75.26 75.26 75.26

56 57 58 59 60
- - - - -
- - - - -

56 57 58 59 60
- - - - -
- - - - -
- - - - -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

POWER
SavingGENERATION
PARTICULARS Units (KWH/KG/LTR) 1 2 3 4 5 6
Total Energy Saving '000 397 530 530 530 530 530
Reduction in Energy Efficiency '000 0.00 0.00 0.00 0.00 0.00 0.00
Net Energy Saving 530 530 530 530 530 530
Net Energy Saving after reduction in'000 530 530 530 530 530 530
Energy shared with Facility owner '000 53 53 53 53 53 53
Energy saving share of ESCO '000 477 477 477 477 477 477
O&M services Expenses 27 30 33 36 40 43
Tarriff INR ` 4.92 5.07 5.22 5.38 5.54 5.70
Energy Saving of ESCO '000 477 477 477 477 477 477
Total Savings Realization from
project INR Lacs 50.45 53.86 57.55 61.56 65.93 70.67
Total Savings Realization from
project (at constant prices) & )
O&M INR Lacs 50.45 53.15 56.12 59.39 62.98 66.94
 Partial Risk Gurantee for Energy Efficiency

7 8 9 10
530 530 530 530
0.00 0.00 0.00 0.00
530 530 530 530
530 530 530 530
53 53 53 53
477 477 477 477
48 53 58 64
5.87 6.05 6.23 6.42
477 477 477 477

75.84 81.46 87.59 94.26

71.28 76.07 81.33 87.12

 Partial Risk Gurantee for Energy Efficiency

OPERATIONAL EXPENSES Amt in

Sl. No. Particulars 1 2 3 4 5 6
A PERSONNEL COSTS
1 Plant Staff
0 - - - - - -
Maintenance Manager 2.40 2.64 2.90 3.19 3.51 3.87
Superviser 3.60 3.96 4.36 4.79 5.27 5.80
Foreman 2.88 3.17 3.48 3.83 4.22 4.64
Technicans/Instrumentation 4.32 4.75 5.23 5.75 6.32 6.96
Helpers 3.84 4.22 4.65 5.11 5.62 6.18
Any other 1.44 1.58 1.74 1.92 2.11 2.32
Subtotal 18.48 20.33 22.36 24.60 27.06 29.76

3 Administrative & Management Staff

General Manager - - - - - -
Company Secteary cum Finance manager - - - - - -
Accounts Officer 1.20 1.32 1.45 1.60 1.76 1.93

Subtotal 1.20 1.32 1.45 1.60 1.76 1.93

Total Personnel Costs 19.68 21.65 23.81 26.19 28.81 31.69

Total Personnel Expenses 14.76 21.65 23.81 26.19 28.81 31.69
-
B ADMINISTRATIVE EXPENSES 1 2 3 4 5 6
Printing & Stationery 0.00 0.00 0.00 0.00 0.00 0.00
Postage & Telephone 0.00 0.00 0.00 0.00 0.00 0.00
Travelling & Conveyance 0.00 0.00 0.00 0.00 0.00 0.00

Legal & Other Professional Chrgs - - - - - -

Rents, Rates & Taxes - - - - - -
Miscellaneous Expenses - - - - - -

Total Administrative Expenses 0.00 0.00 0.00 0.00 0.00 0.00

 Partial Risk Gurantee for Energy Efficiency

Total Administrave Expenses 0.00 0.00 0.00 0.00 0.00 0.00

Insurance Cost 0.97 0.98 0.99 1.00 1.01 1.02

Total Insurance Cost 0.73 0.98 0.99 1.00 1.01 1.02
Operating & Maintenance Cost 0.97 0.97 1.02 1.07 1.12 1.18
Total Operating & Maintenance Cost 0.73 0.97 1.02 1.07 1.12 1.18
Cost of Material 1.0 1.0 1.0 1.0 1.0 1.0
Total Cost of Material 0.75 1.00 1.00 1.00 1.00 1.00

Depreciation as per Companies Act 6.18 6.18 6.18 6.18 6.18 6.18
Total Depreciation 4.63 6.18 6.18 6.18 6.18 6.18

Long Term Loan Interest 6.56 7.01 5.03 3.05 1.07 -

Total Long Term Loan Interest 4.92 7.01 5.03 3.05 1.07 -
 Partial Risk Gurantee for Energy Efficiency

INR Lacs
7 8 9 10

- - - -
4.25 4.68 5.14 5.66
6.38 7.02 7.72 8.49
5.10 5.61 6.17 6.79
7.65 8.42 9.26 10.19
6.80 7.48 8.23 9.05
2.55 2.81 3.09 3.40
32.74 36.01 39.61 43.57

- - - -
- - - -
2.13 2.34 2.57 2.83

2.13 2.34 2.57 2.83

34.86 38.35 42.19 46.40

34.86 38.35 42.19 46.40

7 8 9 10
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

 Partial Risk Gurantee for Energy Efficiency

0.00 0.00 0.00 0.00

1.03 1.04 1.05 1.06

1.03 1.04 1.05 1.06
1.24 1.30 1.37 1.43
1.24 1.30 1.37 1.43
1.0 1.0 1.0 1.0 1

1.00 1.00 1.00 1.00

6.18 6.18 6.18 6.18

6.18 6.18 6.18 6.18 -

- - - -
- - - -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light
PROFIT AND LOSS ACCOUNT Amt in INR Lacs
A Incomes 1 2 3 4 5 6 7
Total Savings Realization from pr 44.90 47.93 51.22 54.79 58.67 62.90 67.49
Service Tax 5.55 5.92 6.33 6.77 7.25 7.77 8.34
Total Income 50.45 53.86 57.55 61.56 65.93 70.67 75.84

B Expenditure
Cost of Material 0.75 1.00 1.00 1.00 1.00 1.00 1.00
Operating & Maintenance Cost 0.73 0.97 1.02 1.07 1.12 1.18 1.24
Insurance Cost 0.73 0.98 0.99 1.00 1.01 1.02 1.03
Personnel Cost 14.76 21.65 23.81 26.19 28.81 31.69 34.86
Administrative Cost 0.00 0.00 0.00 0.00 0.00 0.00 0.00
service Tax 5.55 5.92 6.33 6.77 7.25 7.77 8.34

Total Expenditure 22.52 30.52 33.15 36.04 39.20 42.67 46.48

C PBDIT 27.94 23.33 24.40 25.53 26.73 28.00 29.36

Depreciation 4.63 6.18 6.18 6.18 6.18 6.18 6.18

D PBIT 23.30 17.16 18.22 19.35 20.55 21.83 23.18

Interest on Working Capital - - - - - - -

Interest on Term Loan 6.56 7.01 5.03 3.05 1.07 - -
E Profit Before Taxation 16.74 10.14 13.19 16.30 19.48 21.83 23.18

Applicable Tax 3.35 2.03 2.64 3.39 5.02 6.71 7.52

F Profit After Taxation 13.39 8.11 10.55 12.91 14.46 15.11 15.66
 Partial Risk Gurantee for Energy Efficiency

8 9 10
72.50 77.95 83.90
8.96 9.63 10.37
81.46 87.59 94.26

1.00 1.00 1.00

1.30 1.37 1.43
1.04 1.05 1.06
38.35 42.19 46.40
0.00 0.00 0.00
8.96 9.63 10.37

50.65 55.24 60.27

30.81 32.35 34.00

6.18 6.18 6.18

24.63 26.17 27.82

- - -
- - -
24.63 26.17 27.82

10.00 10.50 11.03

14.63 15.68 16.79

 Partial Risk Gurantee for Energy Efficiency

Balance Sheet

Particulars 1 2 3 4 5 6
Sources Of Fund
Shareholder's Fund
Share Capital 54.14 54.14 54.14 54.14 54.14 54.14
Internal Cash Generation
Share Premium - - - - -
Profit and Loss 13.39 21.51 32.05 44.97 59.43 74.54
Total Shareholders Fund 67.53 75.65 86.19 99.11 113.57 128.68
% of Capital Employed
Borrowed Fund
Term Loan 63.37 47.53 31.69 15.84 - -
Total Borrowed Fund 63.37 47.53 31.69 15.84 - -
% of Capital Employed
Total Capital Employed 130.91 123.18 117.88 114.95 113.57 128.68
Application of Fund
Fixed Asset
Gross Block 129.40 129.40 129.40 129.40 129.40 129.40
Less: Accumulated Depreciation 4.63 10.81 16.99 23.17 29.34 35.52
Net Block 124.76 118.59 112.41 106.23 100.05 93.88
Cash Balance( As Per cash flow) 6.14 4.59 5.47 8.72 13.52 34.80
WC requiremnt - - - - - -
Total Capital Employed 130.91 123.18 117.88 114.95 113.57 128.68

- - - - - -
 Partial Risk Gurantee for Energy Efficiency

Figures in lacs
7 8 9 10

54.14 54.14 54.14 54.14

- - - -
90.20 104.84 120.51 137.30
144.34 158.98 174.65 191.44

- -
- - - -
-
144.34 158.98 174.65 191.44

129.40 129.40 129.40 129.40

41.70 47.88 54.05 60.23
87.70 81.52 75.34 69.16
56.65 77.46 99.31 122.28
- - - -
144.34 158.98 174.65 191.44

- - - -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co. Annexure-5

Shirdi Nagar Panchyat Street Light

CASH FLOW STATEMENT Amt in

A SOURCES OF FUNDS Construction 1 2 3 4 5 6
Profit After Taxation 13.39 8.11 10.55 12.91 14.46 15.11
Add: Depreciation 4.63 6.18 6.18 6.18 6.18 6.18

Equity Share Capital 54.14 54.14

Increase in Bank Borrowings 75.26 73.71

Total Sources 129.40 145.88 14.29 16.73 19.09 20.64 21.29

B APPLICATION OF FUNDS
Capital Expenditure 129.40 127.85
Increase in WC - - - - - -
Repayment of Term Loan 11.88 15.84 15.84 15.84 15.84 -

Total Application 129.40 139.73 15.84 15.84 15.84 15.84 -

C NET SURPLUS - 6.14 (1.55) 0.88 3.25 4.80 21.29

D Opening CASH Balance - - 6.14 4.59 5.47 8.72 13.52

E Closing CASH Balance - 6.14 4.59 5.47 8.72 13.52 34.80

 Partial Risk Gurantee for Energy Efficiency

INR Lacs
7 8 9 10
15.66 14.63 15.68 16.79
6.18 6.18 6.18 6.18

21.84 20.81 21.85 22.97

- - - -
- - - -

- - - -

21.84 20.81 21.85 22.97

34.80 56.65 77.46 99.31

56.65 77.46 99.31 122.28

 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

WORKING CAPITAL ASSESSMENT Amount in

Sl. No. Particulars Time Lag 1 2 3 4 5 6

Cost of Material 1.00 0.06 0.08 0.08 0.08 0.08 0.08

Operating & Maintenance Cost 1.00 0.06 0.08 0.08 0.09 0.09 0.10
Insurance Cost 1.00 0.06 0.08 0.08 0.08 0.08 0.08
Personnel Cost 1.00 1.23 1.80 1.98 2.18 2.40 2.64
Administrative Cost 1.00 0.00 0.00 0.00 0.00 0.00 0.00

Total Current Liabilities 1.41 2.05 2.24 2.44 2.66 2.91

Working Capital Gap 1.41 2.05 2.24 2.44 2.66 2.91

Working Capital From Banks - - - - - -

Interest on Working Capital 12.50% - - - - - -
 Partial Risk Gurantee for Energy Efficiency

INR Lacs
7 8 9 10

0.08 0.08 0.08 0.08

0.10 0.11 0.11 0.12
0.09 0.09 0.09 0.09
2.91 3.20 3.52 3.87
0.00 0.00 0.00 0.00

3.18 3.47 3.80 4.16

3.18 3.47 3.80 4.16

- - - - -

- - - -
 Partial Risk Gurantee for Energy Efficiency

Tax calculation
1 2 3 4
PBDIT 27.94 23.33 24.40 25.53
Interest on Term Loan 6.56 7.01 5.03 3.05
Depreciation as per IT 19.84 16.80 14.22 12.04
PBT 1.54 -0.48 5.14 10.43
Cumulative 1.54 1.06 6.21 16.64
Set off
Tax as per IT 0.50 -0.15 1.67 3.39
Cumulative tax IT 0.50 0.35 2.01 5.40
MAT 3.35 2.03 2.64 3.26
MAT credit 3.35 5.38 8.02 11.28
Tax 3.35 2.03 2.64 3.39

Tax calculation 2.51 2.03 2.64 3.39

 Partial Risk Gurantee for Energy Efficiency

5 6 7 8 9
26.73 28.00 29.36 30.81 32.35
1.07 0.00 0.00
10.19 7.31 6.19
15.46 20.69 23.17 30.81 32.35
32.10 52.80 75.97 106.78 139.12

5.02 6.71 7.52 10.00 10.50

10.42 17.13 24.65 34.64 45.14
3.90 4.37 4.64 4.93 5.24
15.18 19.54 24.18 29.11 34.34
5.02 6.71 7.52 10.00 10.50

5.02 6.71 7.52 10.00 10.50

 Partial Risk Gurantee for Energy Efficiency

10
34.00

34.00
173.12

11.03
56.17
5.57
39.91
11.03

11.03
 Partial Risk Gurantee for Energy Efficiency

Depreciation As per Income Tax 1 2 3 4 5 6 7

Overall Fixed Assets 129.40
Written Down Value Method Rate 15.33%
Opening Balance 129.40 109.56 92.76 78.54 66.50 56.31 47.68
Depreciation 19.84 16.80 14.22 12.04 10.19 8.63 7.31
Cumulative Depreciation 19.84 36.63 50.85 62.89 73.09 81.72 89.03
Closing balance 109.56 92.76 78.54 66.50 56.31 47.68 40.37
 Partial Risk Gurantee for Energy Efficiency

8 9 10

40.37 34.18 28.94

6.19 5.24 4.44
95.22 100.46 104.89
34.18 28.94 24.50
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light
Method of Depreciation
DEPRECIATION SCHEDULE

Depreciation As per Companies Act 1 2

Land 0
SLM Method Rate 0%
Opening Balance 0 0
Depreciation 0.0 0.0
Cumulative Depreciation 0.0 0.0
Closing balance 0 0

Depreciation As per Companies Act 1 2

Building 0
SLM Method Rate 1.63%
Opening Balance 0 0
Depreciation 0.0 0.0
 Partial Risk Gurantee for Energy Efficiency

ethod of Depreciation SLM

Amt in INR Lacs

3 4 5 6 7 8 9

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 0.0 0.0 0.0 0.0 0.0
0 0 0 0 0 0 0

3 4 5 6 7 8 9

0 0 0 0 0 0 0
0.0 0.0 0.0 0.0 0.0 0.0 0.0
 Partial Risk Gurantee for Energy Efficiency

10

0
0.0
0.0
0

10

0
0.0
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

INTEREST AND PRINCIPAL REPAYMENT SCHEDULE

Loan Amount 75.26 INR Lacs

Rate of Interes 12.50% p.a.
Total Period 60 months

Moratorium 3 months
Repayment 60 months

Opening
Sl No. FY Ended Month Balance
1 1 75.26
2 2 75.26
3 3 75.26
4 4 75.26
5 5 73.94
6 6 72.62
7 1 7 71.30
8 8 69.98
9 9 68.65
10 10 67.33
11 11 66.01
12 12 64.69
13 13 63.37
14 14 62.05
15 15 60.73
16 16 59.41
17 17 58.09
18 18 56.77
19 2 19 55.45
20 20 54.13
21 21 52.81
22 22 51.49
23 23 50.17
24 24 48.85
25 25 47.53
26 26 46.21
27 27 44.89
28 28 43.57
29 29 42.25
30 30 40.93
31 3 31 39.61
32 32 38.29
33 33 36.97
34 34 35.65
35 35 34.33
36 36 33.01
37 37 31.69
38 38 30.37
39 39 29.05
40 40 27.73
41 41 26.41
42 42 25.09
43 4 43 23.77
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

INTEREST AND PRINCIPAL REPAYMENT SCHEDULE

Loan Amount 75.26 INR Lacs

Rate of Interes 12.50% p.a.
Total Period 60 months

Moratorium 3 months
Repayment 60 months

Opening
Sl No. 4
FY Ended Month Balance
44 44 22.44
45 45 21.12
46 46 19.80
47 47 18.48
48 48 17.16
49 49 15.84
50 50 14.52
51 51 13.20
52 52 11.88
53 53 10.56
54 54 9.24
55 5 55 7.92
56 56 6.60
57 57 5.28
58 58 3.96
59 59 2.64
60 60 1.32
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

INTEREST AND PRINCIPAL REPAYMENT SCHEDULE

Loan Amount 75.26 INR Lacs

Rate of Interes 12.50% p.a.
Total Period 60 months

Moratorium 3 months
Repayment 60 months

Opening
Sl No. FY Ended Month Balance
61 61 -
62 62 -
63 63 -
64 64 -
65 65 -
66 66 -
67 6 67 -
68 68 -
69 69 -
70 70 -
71 71 -
72 72 -
73 73 -
74 74 -
75 75 -
76 76 -
77 77 -
78 78 -
79 7 79 -
80 80 -
81 81 -
82 82 -
83 83 -
84 84 -
85 85 -
86 86 -
87 87 -
88 88 -
89 89 -
90 90 -
91 8 91 -
92 92 -
93 93 -
94 94 -
95 95 -
96 96 -
97 97 -
98 98 -
99 99 -
100 100 -
101 101 -
102 102 -
103 9 103 -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

INTEREST AND PRINCIPAL REPAYMENT SCHEDULE

Loan Amount 75.26 INR Lacs

Rate of Interes 12.50% p.a.
Total Period 60 months

Moratorium 3 months
Repayment 60 months

Opening
Sl No. 9
FY Ended Month Balance
104 104 -
105 105 -
106 106 -
107 107 -
108 108 -
109 109 -
110 110 -
111 111 -
112 112 -
113 113 -
114 114 -
115 10 115 -
116 116 -
117 117 -
118 118 -
119 119 -
120 120 -
TOTAL
 Partial Risk Gurantee for Energy Efficiency

Street Light

L REPAYMENT SCHEDULE

(End-to-End from 1st drawdown to final repayment)

(After Commercial Production)

Principal Total
Interest Repayment Repayment
- - -
- - -
- - -
0.78 1.32 2.10
0.77 1.32 2.09
0.76 1.32 2.08
0.74 1.32 2.06
0.73 1.32 2.05
0.72 1.32 2.04
0.70 1.32 2.02
0.69 1.32 2.01
0.67 1.32 1.99
0.66 1.32 1.98
0.65 1.32 1.97
0.63 1.32 1.95
0.62 1.32 1.94
0.61 1.32 1.93
0.59 1.32 1.91
0.58 1.32 1.90
0.56 1.32 1.88
0.55 1.32 1.87
0.54 1.32 1.86
0.52 1.32 1.84
0.51 1.32 1.83
0.50 1.32 1.82
0.48 1.32 1.80
0.47 1.32 1.79
0.45 1.32 1.77
0.44 1.32 1.76
0.43 1.32 1.75
0.41 1.32 1.73
0.40 1.32 1.72
0.39 1.32 1.71
0.37 1.32 1.69
0.36 1.32 1.68
0.34 1.32 1.66
0.33 1.32 1.65
0.32 1.32 1.64
0.30 1.32 1.62
0.29 1.32 1.61
0.28 1.32 1.60
0.26 1.32 1.58
0.25 1.32 1.57
 Partial Risk Gurantee for Energy Efficiency

Street Light

L REPAYMENT SCHEDULE

(End-to-End from 1st drawdown to final repayment)

(After Commercial Production)

Principal Total
Interest Repayment Repayment
0.23 1.32 1.55
0.22 1.32 1.54
0.21 1.32 1.53
0.19 1.32 1.51
0.18 1.32 1.50
0.17 1.32 1.49
0.15 1.32 1.47
0.14 1.32 1.46
0.12 1.32 1.44
0.11 1.32 1.43
0.10 1.32 1.42
0.08 1.32 1.40
0.07 1.32 1.39
0.06 1.32 1.38
0.04 1.32 1.36
0.03 1.32 1.35
0.01 1.32 1.33
 Partial Risk Gurantee for Energy Efficiency

Street Light

L REPAYMENT SCHEDULE

(End-to-End from 1st drawdown to final repayment)

(After Commercial Production)

Principal Total
Interest Repayment Repayment
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
 Partial Risk Gurantee for Energy Efficiency

Street Light

L REPAYMENT SCHEDULE

(End-to-End from 1st drawdown to final repayment)

(After Commercial Production)

Principal Total
Interest Repayment Repayment
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
- - -
22.73 75.26 97.99
 Partial Risk Gurantee for Energy Efficiency

Amt in INR Lacs

Closing Annual Annual
Balance Interest Principal
75.26 6.56 11.88
75.26
75.26
73.94
72.62
71.30
69.98
68.65
67.33
66.01
64.69
63.37
62.05 7.01 15.84
60.73
59.41
58.09
56.77
55.45
54.13
52.81
51.49
50.17
48.85
47.53
46.21 5.03 15.84
44.89
43.57
42.25
40.93
39.61
38.29
36.97
35.65 `
34.33
33.01
31.69
30.37 3.05 15.84
29.05
27.73
26.41
25.09
23.77
22.44
 Partial Risk Gurantee for Energy Efficiency

Amt in INR Lacs

Closing Annual Annual
Balance Interest Principal
21.12
19.80
18.48
17.16
15.84
14.52 1.07 15.84
13.20
11.88
10.56
9.24
7.92
6.60
5.28
3.96
2.64
1.32
-
 Partial Risk Gurantee for Energy Efficiency

Amt in INR Lacs

Closing Annual Annual
Balance Interest Principal
- - -
-
-
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
- - -
-
-
-
-
-
-
 Partial Risk Gurantee for Energy Efficiency

Amt in INR Lacs

Closing Annual Annual
Balance Interest Principal
-
-
-
-
-
- - -
-
-
-
-
-
-
-
-
-
-
-
22.73 75.26
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

SENSITIVITY ANALYSIS

Indicative Parameter 1 2 3

### Load Factor 100% 100% 100% 100%

### Sales Tariff 100% 4.92 5.07 5.22

Key Results
Net Sales 50.45 53.86 57.55
PBDIT 27.94 23.33 24.40
Profit Before Taxes 16.74 10.14 13.19
Profit After Taxes 13.39 8.11 10.55

Gross DSCR 1.15 1.33 0.93 1.04

Net DSCR 1.20 1.52 0.90 1.06

Project IRR 14.64%

 Partial Risk Gurantee for Energy Efficiency

Amount in INR Lacs

4 5 6 7 8 9 10

100% 100% 100% 100% 100% 100% 100%

5.38 5.54 5.70 5.87 6.05 6.23 6.42

61.56 65.93 70.67 75.84 81.46 87.59 94.26

25.53 26.73 28.00 29.36 30.81 32.35 34.00
16.30 19.48 21.83 23.18 24.63 26.17 27.82
12.91 14.46 15.11 15.66 14.63 15.68 16.79

1.17 1.28 -
1.20 1.30 -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light
Amount in
GROSS DSCR CALCULATION 1 2 3 4 5 6
SL NO PARTICULARS
A Profit After Taxation 13.39 8.11 10.55 12.91 14.46 15.11
B Depreciation 4.63 6.18 6.18 6.18 6.18 6.18
C Interest on Term Loan 6.56 7.01 5.03 3.05 1.07 -
Subtotal 24.59 21.30 21.76 22.14 21.71 21.29

D Interest on Term Loan 6.56 7.01 5.03 3.05 1.07 -

E Repayment of Term Loan 11.88 15.84 15.84 15.84 15.84 -
Subtotal 18.44 22.86 20.88 18.90 16.92 -

GROSS DSCR 1.33 0.93 1.04 1.17 1.28 -

AVERAGE DSCR 1.15

NET DSCR CALCULATION 1 2 3 4 5 6

SL NO PARTICULARS
A Profit After Taxation 13.39 8.11 10.55 12.91 14.46 15.11
B Depreciation 4.63 6.18 6.18 6.18 6.18 6.18
Subtotal 18.03 14.29 16.73 19.09 20.64 21.29

C Repayment of Term Loan 11.88 15.84 15.84 15.84 15.84 -

Subtotal 11.88 15.84 15.84 15.84 15.84 -

NET DSCR 1.52 0.90 1.06 1.20 1.30 -

AVERAGE DSCR 1.20
 Partial Risk Gurantee for Energy Efficiency

INR Lacs
7 8 9 10

15.66 14.63 15.68 16.79

6.18 6.18 6.18 6.18
- - - -
21.84 20.81 21.85 22.97

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

7 8 9 10

15.66 14.63 15.68 16.79

6.18 6.18 6.18 6.18
21.84 20.81 21.85 22.97

- - - -
- - - -
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light
Amount in
ESCO IRR CALCULATIONS
IRR Calculation with Interest Investment 1 2 3 4 5 6
Project Cost (129.40)
PAT+Dep+Int 24.59 21.30 21.76 22.14 21.71 21.29
(104.81) 21.30 21.76 22.14 21.71 21.29
14.64%

Project IRR Calculation

IRR Calculation with Interest Investment 1 2 3 4 5 6
Project Cost (129.40)
PAT+Dep+Int 27.19 23.99 24.52 24.99 24.64 24.31
(102.20) 23.99 24.52 24.99 24.64 24.31
19.07%

Equity IRR Calculation

Investment 1 2 3 4 5 6
Equity (54.14)
PAT 13.39 8.11 10.55 12.91 14.46 15.11
Depreciation 4.63 6.18 6.18 6.18 6.18 6.18
less Repayment (11.88) (15.84) (15.84) (15.84) (15.84)
Net equity cashflows (48.00) (1.55) 0.88 3.25 4.80 21.29
14.14%
 Partial Risk Gurantee for Energy Efficiency

INR Lacs

7 8 9 10

21.84 20.81 21.85 22.97

21.84 20.81 21.85 22.97

7 8 9 10

24.95 24.02 25.15 26.37

24.95 24.02 25.15 26.37

7 8 9 10

15.66 14.63 15.68 16.79

6.18 6.18 6.18 6.18

21.84 20.81 21.85 22.97

 Partial Risk Gurantee for Energy Efficiency

CALCULATION OF WEIGHTED AVERAGE COST OF CAPITAL

Cost of Equity
Risk Free Return Beta Equity Risk Premium
8.43% 1.00 5.8246%
Cost of Equity 14.25000%

Cost of Debt
Interest Rate Tax
12.50% 33.99%
Cost of Debt 8.25%

Debt - Equity
Debt Equity
60% 40%

WACC 10.65%
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co. Pvt. Ltd.

Shirdi Nagar Panchyat Street Light
Amounts in Lakhs
NPV Calculation
NPV Callculation with Discount Rate 1 2 3 4
Project Cost -129.3963
Depreciation 4.63 6.18 6.18 6.18
Interest on Working Capital - - - -
Interest on Term Loan 6.56 7.01 5.03 3.05
Profit After Taxation 13.39 8.11 10.55 12.91
PBDI (Total) (104.81) 21.30 21.76 22.14
NPV 20.38
 Partial Risk Gurantee for Energy Efficiency

Amounts in Lakhs

5 6 7 8 9 10

6.18 6.18 6.18 6.18 6.18 6.18

- - - - - -
1.07 - - - - -
14.46 15.11 15.66 14.63 15.68 16.79
21.71 21.29 21.84 20.81 21.85 22.97
 Partial Risk Gurantee for Energy Efficiency

Darashaw & Co.

Shirdi Nagar Panchyat Street Light
Amount in Lakhs
Simple Payback Calculation
Investment 1 2 3 4
Depreciation 4.63 6.18 6.18 6.18
PAT 13.39 8.11 10.55 12.91
Revenue (PAT+Depreciation) 18.03 14.29 16.73 19.09
Project Cost (111.37) (97.08) (80.35) (61.26)

(129.40)
 Partial Risk Gurantee for Energy Efficiency

Amount in Lakhs

5 6 7 8 9 10
6.18 6.18 6.18 6.18 6.18 6.18
14.46 15.11 15.66 14.63 15.68 16.79
20.64 21.29 21.84 20.81 21.85 22.97
(40.62) (19.34) 2.51 23.32 45.17 68.14
 Partial Risk Gurantee for Energy Efficiency

Economic Analysis

PROJECT COST

Amount In INR Lacs

SL NO. PARTICULARS AMOUNT
1 Land -
2 Building -
3 Plant & Machinery 117.00
4 Physical Contingencies 5.85
TOTAL PROJECT COST 122.85

Darashaw & Co.

Shirdi Nagar Panchyat Street Light

Project Cost
PARTICULARS Units 1
Capital Cost 122.85
O&M cost (excluding personnel cost) 7.76
Personnel Cost 11.07
Energy bill 5.02
Total Project cost 146.70

Project Benefits

PARTICULARS Units 1
Energy Saving '000 KWH/KG/LTR 397
Reduction in Energy Efficiency '000 KWH/KG/LTR -
Net Energy Saving '000 KWH/KG/LTR 397
Tarriff INR /KWH/KG/LTR 4.92

Total Savings Realization INR Lacs 50

Additional Saving considering (AT&C) '000 KWH/KG/LTR 119

Monetary Saving considering AT&C INR Lacs 5.86

Emission Reduction+ tCO2 426.031

Monetary Saving Emission Reduction INR Lacs 1.32

Total Project Benefit INR Lacs 57.64

Cash flow -89.06

EIRR 44.48%

NPV ₹ 123.88

Consumption (000 KWH) 499

Actual consumption after EE 102.09
 Partial Risk Gurantee for Energy Efficiency

Energy Bill 5.02

Description Annual Energy Annual

Saving Potential in financial
Units saving in Rs.

Replace all single 40W FTL with 16 W 505,679.76 2,831,806.66

LED tube light.
Replace all single 40W Bulb with 16 W 115,947.36 649,305.22
LED tube light.
Replace all single 350 W Socium Vapour 458,980.20 2,570,289.12
Lamp with 140 W LED tube light.
Replace all single 20W CFL with 8 W 27,015.84 151,288.70
LED light.
Labour, Installation and Other
Miscellenous charges
GSM based Online Monitoring System
Total 1107623 6202690
1,107,623.16 6,202,689.70

S.no. Type of Street Numbers

Light/ Fixtures
1 40 W Bulb 1103
2 40 W FTL 3207
3 20 W CFL 514
350 W Sodium
4 Vapour 499
5 20 W LED 20
Total 5343

5323
 Partial Risk Gurantee for Energy Efficiency

2 3 4 5 6 7 8

8.88 9.34 9.84 10.39 10.97 11.61 12.30

16.24 17.86 19.65 21.61 23.77 26.15 28.76
-1.49 -1.49 -1.49 -1.49 -1.49 -1.49 -1.49
23.62 25.71 28.00 30.50 33.25 36.27 39.57

2 3 4 5 6 7 8
530 530 530 530 530 530 530
- - - - - - -
530 530 530 530 530 530 530
4.92 4.92 4.92 4.92 4.92 4.92 4.92

53.15 56.12 59.39 62.98 66.94 71.28 76.07

159 159 159 159 159 159 159

7.82 7.82 7.82 7.82 7.82 7.82 7.82

568.042 568.042 568.042 568.042 568.042 568.042 568.042

1.76 1.76 1.76 1.76 1.76 1.76 1.76

62.73 65.70 68.97 72.56 76.51 80.86 85.65

39.11 39.99 40.97 42.06 43.26 44.60 46.07

499 499 499 499 499 499 499

(30.32) (30.32) (30.32) (30.32) (30.32) (30.32) (30.32)
 Partial Risk Gurantee for Energy Efficiency

-1.49 -1.49 -1.49 -1.49 -1.49 -1.49 -1.49

Investment Simply
cost in Rs. Payback
period in
years
6,478,140.00 2.29
12.8
2,228,060.00 3.43
19.2
10,079,800.00 3.92
22.0
519,140.00 3.43
19.2
2,895,771.00
5-7%
4,826,285.00 15%
27,027,196.00 4.36
27,027,196.00

11%
18%

Percentage capacity cost of light cost per Toatl cost

light
21% 16 92 1472 1623616
60% 16 92 1472 4720704
10% 8 92 736 378304

9% 140 92 12880 6427120

0% 13149744
100%
lab cost 920482.08
Scada 1972461.6
16042687.68 160.4268768
 Partial Risk Gurantee for Energy Efficiency

9 10

13.05 13.86
31.64 34.80
-1.49 -1.49
43.20 47.18

9 10
530 530
- -
530 530
4.92 4.92

81.33 87.12

*Average AT&C Losses

159 159 of Country @30%

7.82 7.82

568.042 568.042 + Average Grid Emission Factor 0.825 tCO2/Mwh

1.76 1.76

90.91 96.70

47.71 49.52

499 499
(30.32) (30.32)
 Partial Risk Gurantee for Energy Efficiency

-1.49 -1.49