10MWp Solar PV Financials for Rajasthan

1. 10 MWp Solar PV Power Project,
Rajasthan – INDIA
– Detailed Financial Report
M/s XXXXX, New Delhi

2. 10 MWp Solar PV Power Financial
DETAILED FINANCIAL
REPORT
10 MWp SOLAR PHOTOVOLTAIC POWER PLANT,
PLANT LOCATION: VILLAGE: AAAAA, DISTT: BBBBB,
RAJASTHAN, INDIA
Project Developers
XXXXXXXX
Project Consultants
Pan Exergy Pvt Ltd
D-32, Sector-7, Noida – 201301,
INDIA.
Ph: +91-9999676750; +91-9654436886
Web: www.exergy.in Email: info@exergy.in
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3. 10 MWp Solar PV Power Financial
1 PROJECT FINANCIALS
1.1 Project Cost
The cost of the power project is estimated, on the basis of the prevailing prices rates and the estimation
is for the installation of power generation facilities described in the earlier sections of this report.
The cost of the Solar PV power plant, presented in this section of the report covers all the costs
associated with the construction of the plant and included civil construction cost, cost of equipment for
power generation, cost of auxiliaries and utilities.
Note: CER distribution: yr-1, 100% to project developer (PD); yr-2, 90% to PD; yr-3, 80% to PD; yr-4, 70% to
PD; yr-5, 60% to PD; year 6 onwards, 50% to PD.
1.2 Data Sheet
Site Information
Site Name Mandali
Price of Land/Acre (Rs Lakh) 0.1
Distance from the Evacuation Point(Km) 17
Estimated Generation (KwH/MW) 1465238
Cost of Evacuation/Km (Rs. Lakh/Km) 30
Technology Information
Technology Used Solar Semi (Poly Crystalline)
Cost of Solar Modules/MW (Rs. Lakh) 850
Area Required (Acre/MW) 6
Cost Estimates Per MW
Item Cost (Rs Lakh)
Solar Panel 850
Inverter (Central Inverter) 150
Power Evacuation Cost (Total) 510
BOS & Commissioning Cost 250
Total Technology Cost/MW 1250
Financial Information
Tariff (Rs/Unit) 15.3
Debt Interest Rate (%) 12.50%
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4. 10 MWp Solar PV Power Financial
1.3 Assumptions
Sl No Assumption Head Sub-Head Sub-Head (2) Units Assumptions
Installed Capacity MW 10
1 Power Generation Capacity CUF % 16.73%
Deration Factor % 0.80%
Useful Life Years 25
Power Plant Cost Rs Lakh/MW 1250
Power Evacuation Cost Rs Lakh 510
2 Project Cost Capital Cost/MW Land Cost Rs Lakh/Acre 0.1
Land Needed Acre/MW 6
Total Fixed cost/PW Rs Laks 13016
Tariff Period Years 25
Tariff Rs 15.3
Debt % 70%
Equity % 30%
Debt-Equity
Total Debt Amount Rs Lakh 9111.2
Total Equity Amount Rs Lakh 3904.8
3 Financial Assumptions
Loan Amount Rs Lakh 9111.2
Moratorium Period Years 0
Debt Component
Repayment Period (Inc Moratorium Period) Years 10
Interest Rate % 12.50%
Equity Component Equity Amount Rs Lakh 3904.8
Income Tax % 33.22%
Fiscal Assumptions MAT Rate (for 10 years) % 19.931%
80 IA Benefit Yes/No Yes
4 Financial Assumptions (2)
Depreciation Rate for First 10 Years % 7%
Depreciation Depreciation Rate 11th year onwards % 1.33%
Years of 7% rate Years 10
Operations & O&M Lakh/MW 9.00
5
Maintenance Total O&M escalation % 5.72%
Expected to be generated per year for next
CER Produced 21 years CER/MW/Year 1500
6 CDM Benefits
Based on Average ECX rates,( conversion
CER Price rate of 1EUR=INR65.26) Rs/CER 744.7
Inverter Current Price of Inverter Rs Lakh/MW 150
Replacement to be
7 Inverter
done after every 10
years Replacement year Year 10
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5. 10 MWp Solar PV Power Financial
1.4 Cash Flow
Note: Detailed Cash Flow for 25years can be provided if asked for
Pre Tax Equity IRR 18%
Pre Tax Project IRR 15%
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6. 10 MWp Solar PV Power Financial
1.5 Profit & Loss Account
Year 1 2 3 4 5 6 7 8 9 10 11 12 13
Profit Before Rs
Tax Lakh 213.92 243.02 279.88 325.48 380.92 561.57 537.55 641.69 761.62 899.30 294.64 1769.12 1743.21
ROE (Before
Tax) % 5% 6% 7% 8% 10% 14% 14% 16% 20% 23% 8% 45% 45%
ROI (Before
Tax) % 2% 2% 2% 3% 3% 4% 4% 5% 6% 7% 2% 14% 13%
Rs
Tax Lakh 43 48 56 65 76 112 107 128 152 179 98 588 579
Rs
Profit after tax Lakh 171.29 194.58 224.10 260.61 305.00 449.65 430.41 513.80 609.82 720.06 196.77 1181.46 1164.16
ROE(After Tax) % 4% 5% 6% 7% 8% 12% 11% 13% 16% 18% 5% 30% 30%
ROI (After Tax) % 0% 0% 0% 0% 1% 1% 1% 1% 1% 1% 1% 5% 4%
Year 14 15 16 17 18 19 20 21 22 23 24 25
Profit Before Rs
Tax Lakh 1716.88 1690.12 1662.88 1635.12 1606.81 1577.91 1548.38 18.17 1431.39 1399.68 1367.15 1333.74
ROE (Before
Tax) % 44% 43% 43% 42% 41% 40% 40% 0% 37% 36% 35% 34%
ROI (Before
Tax) % 13% 13% 13% 13% 12% 12% 12% 0% 11% 11% 11% 10%
Rs
Tax Lakh 570 561 552 543 534 524 514 6 475 465 454 443
Rs
Profit after tax Lakh 1146.58 1128.70 1110.51 1091.97 1073.07 1053.77 1034.05 12.14 955.92 934.74 913.02 890.70
ROE(After Tax) % 29% 29% 28% 28% 27% 27% 26% 0% 24% 24% 23% 23%
ROI (After Tax) % 4% 4% 4% 4% 4% 4% 4% 0% 4% 4% 3% 3%
Average ROE (BT) 26.27%
Average ROI (BT) 7.88%
Average ROE (AT) 18.20%
Average ROI (AT) 2.42%
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