Special Sale on Power Plant Project Finance Models – Renewable, Conventional, Fossil, Nuclear and Waste Heat Recovery Technologies

September 10th, 2017 No Comments   Posted in financial models

Special Sale on Power Plant Project Finance Models – Renewable, Conventional, Fossil, Nuclear and Waste Heat Recovery Technologies

The following models may be downloaded for only USD200 for the first 100 clients this September 1-30, 2017.

The models for renewable, conventional, fossil, nuclear, energy storage, and combined heat and power (CHP) project finance models are based on a single template so that you can prioritize which power generation technology to apply in a given application for more detailed design and economic study.

The models below are in Philippine Pesos (PHP) and may be converted to any foreign currency by inputting the appropriate exchange rate (e.g. 1 USD = 1.0000 USD; 1 USD = 50.000 PHP, 1 USD = 3.800 MYR, etc.). Then do a global replacement in all worksheets of ‘PHP’ with ‘XXX’, where ‘XXX’ is the foreign currency of the model.

RENEWABLE ENERGY

process heat (steam) and power

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-cogeneration-project-finance-model-ver-3/

bagasse, rice husk or wood waste fired boiler steam turbine generator

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-direct-combustion-project-finance-model-ver-3/

gasification (thermal conversion in high temperature without oxygen or air)

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-gasification-project-finance-model-ver-3/

integrated gasification combined cycle (IGCC) technology

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-igcc-project-finance-model-ver-3/

waste-to-energy (WTE) technology for municipal solid waste (MSW) disposal and treatment

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-waste-to-energy-wte-project-finance-model-ver-3-2/

waste-to-energy (WTE) pyrolysis technology

http://energydataexpert.com/shop/power-generation-technologies/advanced-biomass-waste-to-energy-wte-pyrolysis-project-finance-model-ver-3/

run-of-river (mini-hydro) power plant

http://energydataexpert.com/shop/power-generation-technologies/advanced-mini-hydro-run-of-river-project-finance-model-ver-3/

concentrating solar power (CSP) 400 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-concentrating-solar-power-csp-project-finance-model-ver-3/

solar PV technology 1 MW Chinese

http://energydataexpert.com/shop/power-generation-technologies/advanced-solar-photo-voltaic-pv-project-finance-model-ver-3-1-mw/

solar PV technology 25 MW European and Non-Chinese (Korean, Japanese, US)

http://energydataexpert.com/shop/power-generation-technologies/advanced-solar-photo-voltaic-pv-project-finance-model-ver-3-25-mw/

includes 81 wind turbine power curves from onshore WTG manufacturers

http://energydataexpert.com/shop/power-generation-technologies/advanced-onshore-wind-energy-project-finance-model-ver-3-copy/

includes 81 wind turbine power curves from offshore WTG manufacturers

http://energydataexpert.com/shop/power-generation-technologies/advanced-offshore-wind-project-finance-model-ver-3/

ocean thermal energy conversion (OTEC) technology 10 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-ocean-thermal-energy-conversion-otec-10-mw-project-finance-model-ver-3/

ocean thermal energy conversion (OTEC) technology 50 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-ocean-thermal-energy-conversion-otec-project-finance-model-ver-3-50-mw/

CONVENTIONAL, FOSSIL AND NUCLEAR ENERGY

geothermal power plant 100 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-geo-thermal-project-finance-model-ver-3/

large hydro power plant 500 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-large-hydro-impoundment-project-finance-model-ver-3/

subcritical circulating fluidized bed (CFB) technology 50 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-coal-fired-circulating-fluidized-cfb-project-finance-model-ver-3-50-mw/

subcritical circulating fluidized bed (CFB) technology 135 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-coal-fired-circulating-fluidized-bed-cfb-project-finance-model-ver-3-135-mw/

subcritical pulverized coal (PC) technology 400 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-pulverized-coal-pc-subcritical-project-finance-model-ver-3/

supercritical pulverized coal (PC) technology 500 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-pulverized-coal-pc-supercritical-project-finance-model-ver-3/

ultra-supercritical pulverized coal (PC) technology 650 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-pulverized-coal-pc-ultrasupercritical-project-finance-model-ver-3/

diesel-fueled genset (compression ignition engine) technology 50 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-diesel-genset-project-finance-model-ver-3-copy/

fuel oil (bunker oil) fired genset (compression ignition engine) technology 100 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-fuel-oil-genset-project-finance-model-ver-3-copy-2/

fuel oil (bunker oil) fired oil thermal technology 600 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-fuel-oil-thermal-project-finance-model-ver-3/

natural gas combined cycle gas turbine (CCGT) 500 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-natgas-fired-combined-cycle-gas-turbine-ccgt-project-finance-model-ver-3/

natural gas simple cycle (open cycle) gas turbine (OCGT) 70 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-natgas-fired-open-cycle-gas-turbine-ocgt-project-finance-model-ver-3/

natural gas thermal 200 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-natgas-fired-thermal-project-finance-model-ver-3/

petroleum coke (petcoke) fired subcritical thermal 220 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-petcoke-thermal-power-plant-project-finance-model-ver-3/

nuclear (uranium) pressurized heavy water reactor (PHWR) technology 1330 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-nuclear-power-phwr-project-finance-model-ver-3/

WASTE HEAT RECOVERY BOILER (DIESEL genset; GASOLINE genset; PROPANE, LPG or NATURAL GAS simple cycle)

combined heat and power (CHP) circulating fluidized bed (CFB) technology 50 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-coal-fired-cfb-combined-heat-and-power-chp-project-finance-model-ver-3/

diesel genset (diesel, gas oil) and waste heat recovery boiler 3 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-diesel-fired-genset-combined-heat-and-power-chp-project-finance-model-ver-3/

fuel oil (bunker) genset and waste heat recovery boiler 3 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-bunker-fired-genset-combined-heat-and-power-chp-project-finance-model-ver-3/

gasoline genset (gasoline, land fill gas) and waste heat recovery boiler 3 MW

http://energydataexpert.com/shop/power-generation-technologies/advanced-gasoline-fired-genset-combined-heat-and-power-chp-project-finance-model-ver-3/

simple cycle GT (propane, LPG) and waste heat recovery boiler 3 MW (e.g. Capstone)

http://energydataexpert.com/shop/power-generation-technologies/advanced-lpg-fired-genset-combined-heat-and-power-chp-project-finance-model-ver-3/

simple cycle GT (natural gas, land fill gas) and waste heat recovery boiler 3 MW (e.g. Capstone)

http://energydataexpert.com/shop/power-generation-technologies/advanced-natgas-fired-genset-combined-heat-and-power-chp-project-finance-model-ver-3/

Cheers,

Your energy technology selection and project finance modeling expert

 

Solar + Energy Storage = Future of Mankind

September 10th, 2017 No Comments   Posted in solar energy storage

Solar + Energy Storage = Future of Mankind

I am sharing this earth-shaking article from ENERGY CENTRAL.

The Saharan Desert is poised to provide limitless power to the whole of EUROPE.

Here in the Philippines, the local pioneer is SOLAR PHILIPPINES headed by the young and energetic Mr. Leandro Leviste.

Likewise, electric vehicles (EVs) will dominate the global market by 2030-2040 as more global car manufacturers shift completely from petrol to petrol-electric hybrid to pure electric vehicles with grid electricity coming from renewable energy and off-peak solar photo voltaic (solar PV) and concentrated solar power (CSP) that will provide base-load generation thru large scale storage batteries (lithium ion, vanadium). Electric vehicles can now travel from 200-400 km per charge and is expected to rise as battery technology improves further.

It looks now that solar energy is poised to replace the sunset fossil oil and coal-fired power generation in many places of the world such as USA, China and Europe.

http://www.energycentral.com/c/pip/solar-storage-future-both-industries

The growth trend in both the energy storage market and the solar market puts solar-plus-storage in a market sweet spot. IMS Research indicates that the market for storing power from solar panels will grow to $19 billion by the end of this year.

Energy storage installation is expected to expand rapidly from 6 gigawatts in 2017 to more than 40 gigawatts by 2022 according to the Energy Storage Association, and the industry is expected to be worth nearly $11 billion by 2022. The solar industry has also experienced a boom as the United States solar market added 2,044 megawatts of new capacity in the first quarter of 2017.

More and more solar-plus-storage projects are starting all over the U.S., largely due to the fact that lithium-ion prices are dropping and customers now feel more comfortable with the technology. Thus, according to GreenTech Media, energy storage has become the “Darling of the Solar Industry.” The main benefit of solar-plus-storage is its ability to maximize the benefits of intermittent resources such as solar and wind power.

Residential + Solar + Storage

Homeowners benefit from solar-plus-storage because it saves them more money than either system can by themselves, and it reduces their carbon footprint that much more as well. As prices drop, more residential customers will install solar-plus-storage systems in their homes to take advantage of these benefits. Residential energy storage is expected to growth exponentially from 95 megawatts in 2016 to 3,773 megawatts by 2025.

The installed price of residential solar-plus-storage systems has already dropped 25 to 30 percent over the last two to three years, according to Ravi Manghani, director of energy storage for GTM Research. In addition, he says that consumers can realize additional cost reductions when they take advantage of state and federal incentives.

Utilities + Solar + Storage

Solar-plus-storage can make utilities more productive and help them maximize revenues. For example, demand for electricity can increase when consumers utilize solar-plus-storage technology. This demand reduces the need for new fossil fuel facilities, leading to an environmental benefit as well.

In addition, utilities can contract with their customers to draw power from their batteries when the grid needs it, thus lowering energy costs for all stakeholders and protecting against the environmental consequences of burning more fossil fuels to generate energy. More utilities will start to take advantage of solar-plus-storage as prices for utility-scale systems decrease. In fact, one manufacturer says that solar paired with energy storage can be supplied to utilities at a cost of 10 cents per kilowatt-hour.

Visit WillCoEnergy.com for more information.

Kevin Williams’s picture

Kevin Williams

Kevin Williams is a native of Kansas City, MO with a history of entrepreneurship. He has been a principal in several start-ups and consulted with business owners at many levels.

 

Career History of Marcial T. Ocampo

September 8th, 2017 No Comments   Posted in career history

Career History of Marcial T. Ocampo

Areas of Interest:

Energy & Power Generation

Linear Programming Optimization (Real and Mixed Integer LP)

Monte Carlo Simulation and Project Risk

Energy, Power and Fuel Supply & Demand Forecasting

Project Finance and Financial Modeling

Econometric Modeling (GDP, Price, Inflation, Employment)

Technical, Economic and Financial Feasibility Studies

Power Plant Management, Planning, Finance, Operations, Technical Services

WB and UNDP Renewable Energy, Barrier Removal and Project Evaluation

Education:

Elementary – Grade 6 – Valedictorian

High School – Year 4 – Salutatorian

College – B.S. Chemical Engineering, University of the Philippines

2nd Place – Chemical Engineering Board Exam – 87.75%

Masters – M.S. Chemical Engineering, University of the Philippines

Masters – M.S. Combustion & Energy, Leeds University, United Kingdom

Work Experience:

Jun 2014 – Present

Independent Advisor (see above expertise)

Jun 2014 – Present

Energy Technology Selection Expert, Project Finance Modeling, Optimization, Monte  Carlo Simulation at OMT Energy Enterprises

Oct 2014 – Present

Energy and Power Consultant at SMC GLOBAL POWER HOLDINGS CORPORATION

Mar 2013 – Sep 2017

Senior Power Generation Engineer at Sinclair Knight Mertz (SKM)

Sep 2012 – Nov 2012

Comprehensive Feasibility Study for Coal-Fired CFB Power Plant Project at Test Consultants, Inc.

Aug 2012 – Sep 2012

International Energy Consultant for Final Review of ENERGY CONSERVATION at UNDP-India

Feb 2012 – Sep 2012

Technical Working Group (TWG) Member, Independent Oil Industry Pricing Review Committee (IOPRC) at Philippine Department of Energy (Pump Price Calculation Model)

Feb 2012 – Jul 2012

CDM Consultancy to Wind Energy Farms of PhilCarbon at PhilCarbon Inc.

Jan 2012 – Jan 2012

External Evaluation of ESMAP 2007-2011 at Baastel

Dec 2011 – Dec 2011

International Energy Consultant / Expert Evaluator at UNDP-China

Sep 2011 – Oct 2011

Project Finance & Financial Modeling Consultant at Hitachi Asia Ltd

May 2011 – Jul 2011

Technical, Market, Economic and Feasibility Study Consultant at PNOC-EC

Apr 2011 – May 2011

Biomass Power Project Mid-Term Review Consultant at UNDP-India

Mar 2011 – Apr 2011

Natural Gas and LNG Market Study Consultant at Confidential Company

Jan 2011 – Mar 2011

Wind Energy Resource Assessment and Feasibility Study of 2 Sites at Constellation Energy Corporation

Nov 2010 – Nov 2010

Fuel Cell Hybrid Bus Demonstration at UNDP-China

Aug 2010 – Sep 2010

Wind-Diesel Hybrid Power Generation at UNDP Indonesia

Jan 2010 – Jan 2010

Presentor of Feed-In Tariff Calculation Procedure at DOE-NREB

Dec 2009 – Dec 2009

Seminar Lecturer & Consultant – Biomass Feed-In Tariff at Biomass Alliance & Phil. Sugar Mfg. Ass. (PSMA)

Dec 2009 – Dec 2009

Seminar Speaker, Feed-in Tariff Calculation at Energy Practitioners Association of the Philippines

Nov 2009 – Dec 2009

Expert on Dam Operation & Safety at House of Representatives of the Philippines (Pre-emptive discharge and dam water release simulation to avoid dam spill before incoming storm)

Jul 2009 – Oct 2009

Consultant for Greenfield Natural Gas CCGT Power Plant at PNOC Exploration Corporation

Jun 2009 – Jun 2009

Consultant for Lignite Coal Fired CFB Power Plant at PNOC Exploration Corporation

Oct 2008 – Nov 2008

CME Biodiesel Technical & Economic Consultant at Rapco CME Biodiesel

Jun 2008 – Jun 2008

Oil Pricing Expert & Consultant at Philippine Department of Energy

Apr 2008 – Apr 2008

Clean Coal Technology Consultant at E-Power

Jun 2007 – Dec 2007

Qualified Third Party (QTP) Consultant for Rural Electrification at World Bank & Philippine Department of Energy (Biomass-Diesel Hybrid Power Generation and Electricity Tariff Setting)

May 2007 – Dec 2007

Liquid Fuels & Additive Consultant at Octagon Chem Oil Corporation

Aug 2007 – Sep 2007

Financial Modeling Consultant at Harty Philippines, Inc.

Feb 2001 – Nov 2006

Senior Technical Services Manager at First Gen Corporation (Combined Cycle Gas Turbine, Pulverized Coal, and Large Dam power generation)

Sep 1999 – Jan 2001

Executive Director at Philippine Council for Industry & Energy Research & Development (PCIERD) of the Department of Science & Technology (DOST)

Jun 1997 – Jan 1998

EDP, Budget & Planning Manager at Petronas Energy Philippines, Inc.

Jun 1993 – May 1997

President & General Manager at Real Time Management Systems (Crude Oil Refinery Operation and Finished Product Distribution optimization with Linear Programming)

Nov 1990 – May 1993

Petron MIS Coordinator at PNOC-Petron Corporation (Nationwide computerization)

Jun 1983 – Nov 1990

Head, Computer Systems Group at PNOC-Petron Bataan Refinery (Refinery computerization and custodian of the Refinery Linear Programming model)

Apr 1978 – Jun 1986

Section Chief for Transport, Building & Machineries at Bureau of Energy Utilization, Philippine Department of Energy

Jun 1974 – Mar 1978

Lecturer at College of Engineering, University of the Philippines

=======

If you are interested in his services, email him quickly as he will be available by October 1, 2017:

mars_ocampo@yahoo.com

energydataexpert@gmail.com

or call:

63-915-6067949 (GLOBE mobile)

 

Nano machines that drill into cancer cells killing them in just 60 seconds developed by scientists

September 2nd, 2017 No Comments   Posted in cancer treatment

Nano machines that drill into cancer cells killing them in just 60 seconds developed by scientists

© Provided by The Telegraph

Nanomachines which can drill into cancer cells, killing them in just 60 seconds, have been developed by scientists.

The tiny spinning molecules are driven by light, and spin so quickly that they can burrow their way through cell linings when activated.

In one test conducted at Durham University the nanomachines took between one and three minutes to break through the outer membrane of prostate cancer cell, killing it instantly.

The ‘motor’ is a rotor-like chain of atoms that can be prompted to move in one direction, causing the molecule to rotate at high speed.

© Provided by The Telegraph

Dr Robert Pal of Durham University said: “We are moving towards realising our ambition to be able to use light-activated nanomachines to target cancer cells such as those in breast tumours and skin melanomas, including those that are resistant to existing chemotherapy.

“Once developed, this approach could provide a potential step change in non-invasive cancer treatment and greatly improve survival rates and patient welfare globally.”

Motorised molecules that target diseased cells may deliver drugs or kill the cells by drilling into the cell membranes.Credit: Tour Group/Rice University

The scientists, whose work is reported in the journal Nature, created several different light-activated motorised molecules designed to home in on specific cells.

They found that the nanomachines needed to spin at two to three million times per second to overcome nearby obstacles and outpace natural Brownian motion, the erratic movement of microscopic particles suspended in fluid.

The molecules could be used either to tunnel into cells carrying therapeutic agents, or to act as killer weapons that blast open tumour membranes.

© Provided by The Telegraph

Without an ultraviolet trigger, the motor molecules located target cells but then remained harmlessly on their surfaces.

The prostate cancer cells start to ‘bleb’ or disintegrate after just 60 seconds, as seen in the bottom image

When triggered, the molecules rapidly drilled through the cell membranes.

© Provided by The Telegraph

Dr James Tour, a member of the international team from Rice University in Houston, US, said: “These nanomachines are so small that we could park 50,000 of them across the diameter of a human hair, yet they have the targeting and actuating components combined in that diminutive package to make molecular machines a reality for treating disease.

“In this study we have shown that we can drill into cells, animal cells, human cells using these nanomachines, they will attach to the surface and then a light will be shone upon them and they will drill right into the cell.

“For many years I never had envisioned the nanomachines being used medically, I though they were way too small, because they are much much smaller than a cell, but now this work has really changed my thoughts on this and I think therapeutically this will be a whole new way to treat patients, it’s going to be an excellent application for cancer treatment, not just for killing of cells but for the treatment of cells, interacting with the human body using molecular machines.”

The researchers are already proceeding with experiments in microorganisms and small fish and hope to move to rodents soon, ahead of clinical trials in humans if animal testing is successful.

http://www.msn.com/en-ph/news/technology/nanomachines-that-drill-into-cancer-cells-killing-them-in-just-60-seconds-developed-by-scientists/ar-AAr30IZ?li=BBr8zL6&ocid=TSHDHP

 

How to use the advanced (regulator) petcoke-fired SUBCRITICAL power plant project finance model

July 26th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) petcoke-fired SUBCRITICAL power plant project finance model

Finding an easy-to-use project finance model for a petcoke-fired SUBCRITICAL power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a petcoke-fired SUBCRITICAL power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into petcoke-fired SUBCRITICAL power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 3,000 $/kW (target cost)

EPC cost portion = 2,034 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 37.80 $/kW/year (target cost) = 3,452.00 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 4.47 $/MWh (target cost) = 30.26 ‘000$/MW/year (computed by goal seek)

general admin cost = 311.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of petcoke fuel = 14,670 Btu/lb

Plant heat rate = 8,800 Btu/kWh (38.77% thermal efficiency)

Cost of petcoke fuel = 100.00 $/MT = 5,030 PhP/MT = 5.030 PhP/kg

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 110.00 MW/unit x 1 unit = 110.00 MW

 

Plant Availability Factor, %                                     93.57% (computed by goal seek)

Load Factor, %                                                           95.00% (assumed)

Allowance for losses & own use, %                       10.00% (assumed)

Net Capacity Factor after losses & own use, %    80.00% (target net capacity factor)

Degradation rate, %                                                  0.2%

 

construction period = 36 months (start 2016)

operating period = 25 years (start 2019)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                    20.00

Cost of purchased land (PhP/sqm)                   100.00 (no land lease)

Land cost, $000 $397.64 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,473.90 12.2%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 62.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 50.1%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $398
   EPC (Equipment, Balance of Plant, Transport) $203,471
   Transmission Line Interconnection Facility $2,480
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $37,713
   Construction Contingency $9,563
   Value Added Tax $17,649
   Financing Costs $35,496
   Initial Working Capital $22,443
Total Uses of Fund – $000 $329,999
                                 – PhP 000 16,597,985
Sources of Fund:
   Debt $230,999
   Equity $99,000
Total Sources of Fund $329,999

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 50 %

Foreign Capital = 50 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 120 days of consumables

 

Imported Capital Equipment:

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 15.00% p.a. target equity returns (IRR)

Debt Share = 70% (50% local, 50% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 12
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.80% p.a.

WACC pre-tax = 12.43% p.a.

WACC after-tax = 8.70% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 6.16152 P/kWh = 0.12250 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel        28,602,223 1.52063
Lubes                2,133 0.00011
Var O&M          4,696,641 0.24970
Total        33,300,998 1.77044
MWh net        18,809,472
SRMC        33,300,998 1.77044
Fix O&M        10,264,198 0.54569
Capital Cost        72,329,714 3.84539
LRMC      115,894,910 6.16152

 

SRMC = 1.77044 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 6.16152 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 15.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 8.66    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 12.09        % p.a.

NPV        = (2,424,999)  ‘000$ (negative since IRR < 15.00%)

PAYBACK = 6.78        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 15.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below

Model Inputs and Results – Petcoke Subcritical

 

Download the complete demo model for a petcoke-fired SUBCRITICAL power plant in PHP and USD currencies are shown below:

ADV Petcoke-Fired PC Subcritical Thermal Model3 – demo5b

ADV Petcoke-Fired PC Subcritical Thermal Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Petcoke-fired Thermal 110 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the petcoke-fired SUBCRITICAL model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

 

How to use the advanced (regulator) nuclear PHWR power plant project finance model

July 26th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) nuclear PHWR power plant project finance model

Finding an easy-to-use project finance model for a nuclear PHWR (pressurized hot water reactor) power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a nuclear PHWR power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into nuclear PHWR power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 5,530 $/kW (target cost)

EPC cost portion = 3,256 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 15th year (overhaul)

fixed O&M cost = 93.28 $/kW/year (target cost) = 111,436.79 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.14 $/MWh (target cost) = 10.88 ‘000$/MW/year (computed by goal seek)

general admin cost = 370.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of nuclear fuel = 1,676,708,808 Btu/lb

Plant heat rate = 10,268 Btu/kWh (33.23% thermal efficiency of steam cycle)

Energy content of nuclear fuel = 3,900 GJ/kg

Electricity generation per kg = 360,000 kWh/kg

Cost of nuclear fuel = 365 (fuel) + 400 (fabrication) = 765 $/kg = 765,000 $/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 1,330.00 MW/unit x 1 unit = 1,330.00 MW

 

Plant Availability Factor, %                                    96.67% (computed by goal seek)

Load Factor, %                                                     98.00% (assumed)

allowance for losses & own use, %                       5.00% (assumed)

Net Capacity Factor after losses & own use, %    90.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 60 months (start 2014)

operating period = 30 years (start 2019)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   50.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $248.52 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $2,594.07 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 1.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 1.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 48.7%

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $249
   EPC (Equipment, Balance of Plant, Transport) $4,329,885
   Transmission Line Interconnection Facility $40
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $765,110
   Construction Contingency $199,215
   Value Added Tax $379,079
   Financing Costs $1,203,247
   Initial Working Capital $477,586
Total Uses of Fund – $000 $7,355,197
                                 – PhP 000 369,945,067
Sources of Fund:
   Debt $5,148,638
   Equity $2,206,559
Total Sources of Fund $7,355,197

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.48% p.a.

WACC pre-tax = 11.98% p.a.

WACC after-tax = 8.38% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 7.59514 P/kWh = 0.15101 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel        32,825,596 0.11251
Lubes            338,460 0.00116
Var O&M        32,718,776 0.11214
Total        65,882,832 0.22581
MWh net      291,765,159
SRMC        65,882,832 0.22581
Fix O&M      301,344,116 1.03283
Capital Cost    1,848,769,523 6.33650
LRMC    2,215,996,471 7.59514

SRMC = 0.22581 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 7.59514 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 8.68 years

 

Project Returns: (100% equity, 0% debt)

IRR          = 10.96          % p.a.

NPV        = (58,478,322)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 6.73           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Nuclear PHWR

 

Download the complete demo model for a nuclear PHWR power plant in PHP and USD currencies are shown below:

ADV Nuclear PHWR Model3 – demo5b

ADV Nuclear PHWR Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Nuclear 1330 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) natural gas OCGT power plant project finance model

July 25th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) natural gas OCGT power plant project finance model

Finding an easy-to-use project finance model for a natural gas OCGT (open cycle gas turbine, also known as simple cycle gas turbine) power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a natural gas OCGT power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into natural gas OCGT power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 973 $/kW (target cost)

EPC cost portion = 575 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 7.34 $/kW/year (target cost) = 474.49 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 15.45 $/MWh (target cost) = 40.44 ‘000$/MW/year (computed by goal seek)

general admin cost = 10.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of natural gas OCGT fuel = 22,129 Btu/lb

Plant heat rate = 10,850 Btu/kWh (31.45% thermal efficiency)

Cost of fuel per mmBtu = 9.103 $/mmBtu

Cost of natural gas fuel = 8.628 $/GJ = 444.10 $/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 85.00 MW/unit x 1 unit = 85.00 MW

 

Plant Availability Factor, %                                    33.24% (computed by goal seek)

Load Factor, %                                                           95.00% (assumed)

allowance for losses & own use, %                           5.00% (assumed)

Net Capacity Factor after losses & own use, %    30.00% (target net capacity factor)

Degradation rate, %                                                  0.2%

 

construction period = 36 months (start 2014)

operating period = 30 years (start 2017)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   20.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $49.70 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $479.89 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 1.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 1.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 49.4%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $50
   EPC (Equipment, Balance of Plant, Transport) $51,192
   Transmission Line Interconnection Facility $40
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $9,226
   Construction Contingency $2,395
   Value Added Tax $4,484
   Financing Costs $8,887
   Initial Working Capital $5,646
Total Uses of Fund – $000 $82,707
                                 – PhP 000 4,159,909
Sources of Fund:
   Debt $57,895
   Equity $24,812
Total Sources of Fund $82,707

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.49% p.a.

WACC pre-tax = 11.99% p.a.

WACC after-tax = 8.39% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 9.58605 P/kWh = 0.19059 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel        34,026,803 5.22921
Lubes                7,548 0.00116
Var O&M          5,315,159 0.81683
Total        39,349,510 6.04720
MWh net          6,507,059
SRMC        39,349,510 6.04720
Fix O&M          2,630,382 0.40424
Capital Cost        20,397,131 3.13462
LRMC        62,377,023 9.58605

SRMC = 6.04720 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 9.58605 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 10.05 years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.60          % p.a.

NPV        = (570,157)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.29           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Natural Gas Simple Cycle GT

 

Download the complete demo model for a natural gas OCGT power plant in PHP and USD currencies are shown below:

ADV Natgas Simple Cycle Model3 – demo5b

ADV Natgas Simple Cycle Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Natural Gas-fired OCGT 85 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) natural gas CCGT power plant project finance model

July 25th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) natural gas CCGT power plant project finance model

Finding an easy-to-use project finance model for a natural gas CCGT (combined cycle gas turbine) power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a natural gas CCGT power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into natural gas CCGT power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 917 $/kW (target cost)

EPC cost portion = 575 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 14.13 $/kW/year (target cost) = 6,916.62 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 3.60 $/MWh (target cost) = 26.87 ‘000$/MW/year (computed by goal seek)

general admin cost = 370.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of natural gas CCGT fuel = 22,129 Btu/lb

Plant heat rate = 7,050 Btu/kWh (48.40% thermal efficiency)

Cost of fuel per mmBtu = 9.103 $/mmBtu

Cost of natural gas fuel = 8.628 $/GJ = 444.10 $/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 620.00 MW/unit x 1 unit = 620.00 MW

 

Plant Availability Factor, %                                    96.40% (computed by goal seek)

Load Factor, %                                                     95.00% (assumed)

allowance for losses & own use, %                         5.00% (assumed)

Net Capacity Factor after losses & own use, %    87.00% (target net capacity factor)

Degradation rate, %                                               0.2%

 

construction period = 36 months (start 2014)

operating period = 25 years (start 2017)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   20.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $99.41 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $458.10 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 1.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 1.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 48.7%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $99
   EPC (Equipment, Balance of Plant, Transport) $356,450
   Transmission Line Interconnection Facility $40
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $63,157
   Construction Contingency $16,437
   Value Added Tax $31,222
   Financing Costs $61,034
   Initial Working Capital $39,316
Total Uses of Fund – $000 $568,542
                                 – PhP 000 28,596,013
Sources of Fund:
   Debt $397,979
   Equity $170,563
Total Sources of Fund $568,542

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.48% p.a.

WACC pre-tax = 11.97% p.a.

WACC after-tax = 8.38% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 4.81729 P/kWh = 0.09578 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel      391,742,442 3.39778
Lubes            133,745 0.00116
Var O&M        21,841,145 0.18944
Total      413,717,332 3.58838
MWh net      115,293,514
SRMC      413,717,332 3.58838
Fix O&M        23,045,754 0.19989
Capital Cost      118,638,864 1.02902
LRMC      555,401,951 4.81729

SRMC = 3.58838 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 4.81729 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 9.87    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.41          % p.a.

NPV        = (4,243,735)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.35           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Natural Gas Combined Cycle GT

 

Download the complete demo model for a natural gas CCGT power plant in PHP and USD currencies are shown below:

ADV Natgas Combined Cycle Model3 – demo5b

ADV Natgas Combined Cycle Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Natural Gas-fired CCGT 620 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) large hydro power plant project finance model

July 25th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) large hydro power plant project finance model

Finding an easy-to-use project finance model for a large hydro power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a large hydro power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into large hydro power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,936 $/kW (target cost)

EPC cost portion = 2,109 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 15th year (overhaul)

fixed O&M cost = 14.13 $/kW/year (target cost) = 4,728.61 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.00 $/MWh (target cost) = 8.61 ‘000$/MW/year (computed by goal seek)

general admin cost = 100.00 ‘000$/year (target cost)

 

Thermal power plant inputs: (no applicable to large hydro)

Gross heating value of large hydro fuel = 5,198 Btu/lb

Plant heat rate = 13,500 Btu/kWh (25.28% thermal efficiency)

Cost of biomass fuel = 1.299 PhP/kg = 1,299 PhP/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 500.00 MW/unit x 1 unit = 500.00 MW

 

Plant Availability Factor, %                                    57.68% (computed by goal seek)

Load Factor, %                                                     92.00% (assumed)

allowance for losses & own use, %                         2.00% (assumed)

Net Capacity Factor after losses & own use, %    52.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 36 months (start 2014)

operating period = 30 years (start 2017)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   40.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $198.82 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,842.20 43.0%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 10.0% 80.0%
Transmission Line Distance (km) 25.00
T/L Cost per km, 69 kV ($000/km) $84.00 100.0%
Switchyard & Transformers ($000) $500.00 100.0%
Access Roads ($000/km) $20.00 100.0%
Distance of Access Road (km) 15.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 2.5% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 5.0% 100.0%
Contingency (% of Total Cost) 7.5% 55.7%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $199
   EPC (Equipment, Balance of Plant, Transport) $1,054,662
   Transmission Line Interconnection Facility $2,100
   Sub-Station Facility $500
   Development & Other Costs (Civil Works, Customs Duty) $47,263
   Construction Contingency $81,295
   Value Added Tax $69,536
   Financing Costs $159,156
   Initial Working Capital $52,733
Total Uses of Fund – $000 $1,467,443
                                 – PhP 000 73,808,108
Sources of Fund:
   Debt $1,027,210
   Equity $440,233
Total Sources of Fund $1,467,443

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 56 %

Foreign Capital = 44 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (56% local, 44% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.58% p.a.

WACC pre-tax = 12.11% p.a.

WACC after-tax = 8.48% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 6.19949 P/kWh = 0.12326 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel                      – 0.00000
Lubes                7,127 0.00011
Var O&M          6,496,970 0.10252
Total          6,504,097 0.10263
MWh net        63,374,220
SRMC          6,504,097 0.10263
Fix O&M        33,657,041 0.53108
Capital Cost      352,726,856 5.56578
LRMC      392,887,994 6.19949

 

SRMC = 0.10263 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 6.19949 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 10.02    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.65          % p.a.

NPV        = (9,394,578)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.08           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Large Hydro

Download the complete demo model for a large hydro power plant in PHP and USD currencies are shown below:

 ADV Large Hydro Model3 – demo5b

ADV Large Hydro Model3 (USD) – demo5b

 

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Large Hydro 500 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) geothermal power plant project finance model

July 24th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) geothermal power plant project finance model

Finding an easy-to-use project finance model for a geothermal power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a geothermal power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into geothermal power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 6,243 $/kW (target cost)

EPC cost portion = 3,753 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 132.00 $/kW/year (target cost) = 5,942.85 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 8.00 $/MWh (target cost) = 56.11 ‘000$/MW/year (computed by goal seek)

general admin cost = 370.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of geothermal fuel = 1,104 Btu/lb (geothermal steam)

Plant heat rate = 34,121 Btu/kWh (10.00% thermal efficiency)

Cost per mmBtu = 2.273 $/mmBtu

Cost of geothermal steam = 2.154 $/GJ = 5.53 $/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 50.00 MW/unit x 1 unit = 50.00 MW

 

Plant Availability Factor, %                                    99.84% (computed by goal seek)

Load Factor, %                                                     97.00% (assumed)

allowance for losses & own use, %                       5.00% (assumed)

Net Capacity Factor after losses & own use, %    92.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 48 months (start 2014)

operating period = 25 years (start 2018)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   30.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $99.41 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $2,990.42 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 49.2%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $99
   EPC (Equipment, Balance of Plant, Transport) $187,649
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $34,971
   Construction Contingency $8,752
   Value Added Tax $16,437
   Financing Costs $42,422
   Initial Working Capital $20,641
Total Uses of Fund – $000 $312,158
                                 – PhP 000 15,700,654
Sources of Fund:
   Debt $218,511
   Equity $93,647
Total Sources of Fund $312,158

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.49% p.a.

WACC pre-tax = 11.98% p.a.

WACC after-tax = 8.39% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 12.75915 P/kWh = 0.25368 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel        38,877,090 4.10548
Lubes              10,985 0.00116
Var O&M          3,999,890 0.42239
Total        42,887,965 4.52903
MWh net          9,469,560
SRMC        42,887,965 4.52903
Fix O&M      13,194,980 1.39341
Capital Cost        64,740,637 6.83671
LRMC      120,823,583 12.75915

SRMC = 4.52903 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 12.75915 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 8.90    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.17          % p.a.

NPV        = (2,301,468)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 6.83           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Geothermal

 

Download the complete demo model for a geothermal power plant in PHP and USD currencies are shown below:

ADV Geo Thermal Model3 – demo5b

ADV Geo Thermal Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

Geothermal 50 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) fuel oil thermal power plant project finance model

July 24th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) fuel oil thermal power plant project finance model

Finding an easy-to-use project finance model for a fuel oil thermal (steam cycle) power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a fuel oil thermal power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into fuel oil thermal power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 1,000 $/kW (target cost)

EPC cost portion = 641 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 30.00 $/kW/year (target cost) = 8,157.41 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 10.00 $/MWh (target cost) = 53.90 ‘000$/MW/year (computed by goal seek)

general admin cost = 100.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of fuel oil thermal fuel = 19,500 Btu/lb

Plant heat rate = 8,979 Btu/kWh (38.00% thermal efficiency)

Density of diesel fuel = 0.966 kg/Liter

Cost of fuel oil thermal fuel = 25.00 PhP/Liter = 514.54 USD/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 300.00 MW/unit x 1 unit = 300.00 MW

 

Plant Availability Factor, %                                    70.18% (computed by goal seek)

Load Factor, %                                                     95.00% (assumed)

allowance for losses & own use, %                       10.00% (assumed)

Net Capacity Factor after losses & own use, %    60.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 24 months (start 2014)

operating period = 20 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   30.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $149.11 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $510.98 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 49.2%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $149
   EPC (Equipment, Balance of Plant, Transport) $192,385
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $35,808
   Construction Contingency $8,970
   Value Added Tax $16,852
   Financing Costs $23,497
   Initial Working Capital $21,162
Total Uses of Fund – $000 $300,009
                                 – PhP 000 15,089,572
Sources of Fund:
   Debt $210,006
   Equity $90,003
Total Sources of Fund $300,009

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC = 10.49% p.a.

WACC pre-tax = 11.98% p.a.

WACC after-tax = 8.39% p.a.

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 8.65344 P/kWh = 0.17205 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel      180,407,888 6.00598
Lubes              36,781 0.00122
Var O&M        16,750,178 0.55763
Total      197,194,846 6.56484
MWh net        30,038,040
SRMC      197,194,846 6.56484
Fix O&M        14,405,624 0.47958
Capital Cost        48,332,000 1.60903
LRMC      259,932,470 8.65344

SRMC = 6.56484 PHP/kWh (variable O&M + fuel + lubes)

LRMC = 8.65344 PHP/kWh (capital cost + fixed O&M + regulatory + SRMC)

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 9.83    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.59           % p.a.

NPV        = (1,977,185)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.25           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

Download the sample file below:

Model Inputs and Results – Fuel Oil Thermal

Download the complete demo model for a fuel oil thermal power plant in PHP and USD currencies are shown below:

ADV Fuel Oil Thermal Model3 – demo5b

ADV Fuel Oil Thermal Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

To purchase the PHP and USD models at a discount, click the link below:

Fuel Oil Thermal 300 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) fuel oil genset power plant project finance model

July 23rd, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) fuel oil genset power plant project finance model

Finding an easy-to-use project finance model for a fuel oil genset (low speed turbo charged) power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a fuel oil genset power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into fuel oil genset power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 1,363 $/kW (target cost)

EPC cost portion = 903 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 25.30 $/kW/year (target cost) = 4,802.92 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 36.16 $/MWh (target cost) = 165.27 ‘000$/MW/year (computed by goal seek)

general admin cost = 10.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of fuel oil genset fuel = 19,500 Btu/lb

Plant heat rate = 9,478 Btu/kWh (36.00% thermal efficiency)

Density of diesel fuel = 0.966 kg/Liter

Cost of fuel oil genset fuel = 25.00 PhP/Liter = 514.54 USD/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 225.00 MW/unit x 1 unit = 225.00 MW

 

Plant Availability Factor, %                                    58.48% (computed by goal seek)

Load Factor, %                                                     95.00% (assumed)

llowance for losses & own use, %                       10.00% (assumed)

Net Capacity Factor after losses & own use, %    50.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 24 months (start 2014)

operating period = 20 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   20.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $99.41 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $696.56 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 49.2%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $99
   EPC (Equipment, Balance of Plant, Transport) $196,692
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $36,568
   Construction Contingency $9,168
   Value Added Tax $17,229
   Financing Costs $24,011
   Initial Working Capital $21,636
Total Uses of Fund – $000 $306,591
                                 – PhP 000 15,420,619
Sources of Fund:
   Debt $214,613
   Equity $91,977
Total Sources of Fund $306,591

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 3%

Value added tax (VAT) = 12%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax       11.98%

WACC after-tax     8.39%

WACC                   10.49%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 11.49898 P/kWh = 0.22862 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel      119,021,185 6.33976
Lubes              22,988 0.00122
Var O&M        37,918,162 2.01974
Total      156,962,336 8.36072
MWh net        18,773,775
SRMC      156,962,336 8.36072
Fix O&M        10,497,977 0.55918
Capital Cost        48,418,877 2.57907
LRMC      215,879,190 11.49898

 

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00     ‘000$

PAYBACK = 9.52    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.70           % p.a.

NPV        = (1,847,006)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.07           years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Fuel Oil Genset

 

Download the complete demo model for a fuel oil genset power plant in PHP and USD currencies are shown below:

ADV Fuel Oil Genset Model3 – demo5b

ADV Fuel Oil Genset Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

CI Fuel Oil Genset 225 mw Power Project Finance Model Ver. 3 in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) diesel genset power plant project finance model

July 22nd, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) diesel genset power plant project finance model

Finding an easy-to-use project finance model for a diesel genset power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a diesel genset power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into diesel genset power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 1,040 $/kW (target cost)

EPC cost portion = 585 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 10.73 $/kW/year (target cost) = 204.08 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 33.28 $/MWh (target cost) = 111.79 ‘000$/MW/year (computed by goal seek)

general admin cost = 10.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of diesel genset fuel = 18,600 Btu/lb

Plant heat rate = 10,663 Btu/kWh (32.00% thermal efficiency)

Density of diesel fuel = 0.845 kg/L

Cost of diesel genset fuel = 30.00 PhP/L = 705.86 USD/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 25.00 MW/unit x 1 unit = 25.00 MW

 

Plant Availability Factor, %                                    40.82% (computed by goal seek)

Load Factor, %                                                     100.00% (assumed)

Allowance for losses & own use, %                         2.00% (assumed)

Net Capacity Factor after losses & own use, %    40.00% (target net capacity factor)

Degradation rate, %                                               0.5%

 

construction period = 24 months (start 2014)

operating period = 20 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   10.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Equipment Cost ex BOP, Transport ($000/MW) $465.76 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 55.4%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $50
   EPC (Equipment, Balance of Plant, Transport) $14,613
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $4,400
   Construction Contingency $792
   Value Added Tax $1,281
   Financing Costs $2,052
   Initial Working Capital $1,607
Total Uses of Fund – $000 $25,982
                                 – PhP 000 1,306,832
Sources of Fund:
   Debt $18,188
   Equity $7,795
Total Sources of Fund $25,982

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 55 %

Foreign Capital = 45 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 120 days of consumables

 

Imported Capital Equipment: (fossil fuel)

Customs duty = 0%

Value added tax (VAT) = 0%

VAT recovery = 0% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (55% local, 45% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax         12.11%

WACC after-tax      8.48%

WACC                        10.58%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 14.26954 P/kWh = 0.28371 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel        15,720,785 9.42053
Lubes                1,877 0.00112
Var O&M          2,848,052 1.70667
Total        18,570,714 11.12832
MWh net          1,668,780
SRMC        18,570,714 11.12832
Fix O&M            741,261 0.44419
Capital Cost          4,500,753 2.69703
LRMC        23,812,727 14.26954

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 10.12    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.35        % p.a.

NPV        = (201,064)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.50        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Diesel Genset

 

Download the complete demo model for a diesel genset power plant in PHP and USD currencies are shown below:

ADV Diesel Genset Model3 – demo5b

ADV Diesel Genset Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

CI Diesel Genset 50 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the diesel genset model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) coal-fired PC ULTRASUPERCRITICAL power plant project finance model

July 21st, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) coal-fired PC ULTRASUPERCRITICAL power plant project finance model

Finding an easy-to-use project finance model for a coal-fired PC ULTRASUPERCRITICAL power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a coal-fired PC ULTRASUPERCRITICAL power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into coal-fired PC ULTRASUPERCRITICAL power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,934 $/kW (target cost)

EPC cost portion = 1,840 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 31.18 $/kW/year (target cost) = 16,077.32 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 4.47 $/MWh (target cost) = 32.24 ‘000$/MW/year (computed by goal seek)

general admin cost = 371.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of coal-fired fuel = 10,000 Btu/lb

Plant heat rate = 7,816 Btu/kWh (43.66% thermal efficiency)

Cost of coal-fired fuel = 85.00 $/MT = 4,275 PhP/MT = 4.275 PhP/kg

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 650.00 MW/unit x 1 unit = 650.00 MW

 

Plant Availability Factor, %                                     96.37% (computed by goal seek)

Load Factor, %                                                           98.00% (assumed)

Allowance for losses & own use, %                       10.00% (assumed)

Net Capacity Factor after losses & own use, %    85.00% (target net capacity factor)

Degradation rate, %                                                  0.2%

 

construction period = 36 months (start 2014)

operating period = 25 years (start 2017)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   50.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $248.52 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,466.50 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 48.7%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $249
   EPC (Equipment, Balance of Plant, Transport) $1,196,298
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $213,159
   Construction Contingency $55,150
   Value Added Tax $104,742
   Financing Costs $204,730
   Initial Working Capital $131,593
Total Uses of Fund – $000 $1,907,107
                                 – PhP 000 95,921,933
Sources of Fund:
   Debt $1,334,975
   Equity $572,132
Total Sources of Fund $1,907,107

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 120 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (Yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (Yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (Yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax         11.97%

WACC after-tax      8.38%

WACC                        10.48%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 5.74924 P/kWh = 0.11431 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel      198,884,219 1.684
Lubes            144,604 0.001
Var O&M        29,356,222 0.249
Total      228,385,045 1.934
MWh net      118,093,560
SRMC      228,385,045 1.934
Fix O&M        52,911,312 0.448
Capital Cost      397,652,284 3.367
LRMC     678,948,641 5.749

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 9.65    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.54        % p.a.

NPV        = (12,686,011)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.10        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below

Model Inputs and Results – PC ultrasupercritical

 

Download the complete demo model for a coal-fired PC ULTRASUPERCRITICAL power plant in PHP and USD currencies are shown below:

ADV Coal-Fired PC Ultrasupercritical Thermal Model3 – demo5b

ADV Coal-Fired PC Ultrasupercritical Thermal Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

PC Ultrasupercritical 650 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the coal-fired PC ULTRASUPERCRITICAL model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) coal-fired PC SUPERCRITICAL power plant project finance model

July 21st, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) coal-fired PC SUPERCRITICAL power plant project finance model

Finding an easy-to-use project finance model for a coal-fired PC SUPERCRITICAL power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a coal-fired PC SUPERCRITICAL power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into coal-fired PC SUPERCRITICAL power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 3,246 $/kW (target cost)

EPC cost portion = 2,034 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 37.80 $/kW/year (target cost) = 12,269.05 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 4.47 $/MWh (target cost) = 32.66 ‘000$/MW/year (computed by goal seek)

general admin cost = 590.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of coal-fired PC SUPERCRITICAL fuel = 10,000 Btu/lb

Plant heat rate = 8,816 Btu/kWh (38.70% thermal efficiency)

Cost of coal-fired PC SUPERCRITICAL fuel = 85.00 $/MT = 4,275 PhP/MT = 4.275 PhP/kg

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 400.00 MW/unit x 1 unit = 400.00 MW

 

Plant Availability Factor, %                                     99.58% (computed by goal seek)

Load Factor, %                                                           97.00% (assumed)

Allowance for losses & own use, %                       12.00% (assumed)

Net Capacity Factor after losses & own use, %    85.00% (target net capacity factor)

Degradation rate, %                                                  0.2%

 

construction period = 36 months (start 2013)

operating period = 25 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   30.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $149.11 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,621.01 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $40.00 100.0%
Switchyard & Transformers ($000) $786.21 100.0%
Access Roads ($000/km) $181.82 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 48.8%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $149
   EPC (Equipment, Balance of Plant, Transport) $813,749
   Transmission Line Interconnection Facility $400
   Sub-Station Facility $786
   Development & Other Costs (Civil Works, Customs Duty) $145,586
   Construction Contingency $37,553
   Value Added Tax $71,274
   Financing Costs $139,390
   Initial Working Capital $89,512
Total Uses of Fund – $000 $1,298,400
                                 – PhP 000 65,305,755
Sources of Fund:
   Debt $908,880
   Equity $389,520
Total Sources of Fund $1,298,400

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 120 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax         11.98%

WACC after-tax      8.38%

WACC                        10.48%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 6.45015 P/kWh = 0.12824 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel      141,186,713 1.943
Lubes              91,010 0.001
Var O&M        18,475,944 0.254
Total      159,753,666 2.198
MWh net        72,672,960
SRMC      159,753,666 2.198
Fix O&M        38,097,392 0.524
Capital Cost      270,900,430 3.728
LRMC      468,751,489 6.450

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 9.65    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.54        % p.a.

NPV        = (8,647,593)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.11        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below

Model Inputs and Results – PC supercritical

 

Download the complete demo model for a coal-fired PC SUPERCRITICAL power plant in PHP and USD currencies are shown below:

ADV Coal-Fired PC Supercritical Thermal Model3 – demo5b

ADV Coal-Fired PC Supercritical Thermal Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

PC Supercritical 400 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the coal-fired PC SUPERCRITICAL model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) coal-fired CFB power plant project finance model

July 20th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) coal-fired CFB power plant project finance model

Finding an easy-to-use project finance model for a coal-fired CFB power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a coal-fired CFB power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into coal-fired CFB power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,934 $/kW (target cost)

EPC cost portion = 1,835 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 12th year (overhaul)

fixed O&M cost = 31.18 $/kW/year (target cost) = 3,341.56 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 4.47 $/MWh (target cost) = 33.06 ‘000$/MW/year (computed by goal seek)

general admin cost = 465.00 ‘000$/year (target cost)

 

Thermal power plant inputs:

Gross heating value of coal-fired CFB fuel = 10,000 Btu/lb

Plant heat rate = 11,725 Btu/kWh (29.10% thermal efficiency)

Cost of coal-fired CFB fuel = 85.00 $/MT = 4,275 PhP/MT = 4.275 PhP/kg

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 135.00 MW/unit x 1 unit = 135.00 MW

 

Plant Availability Factor, %                                    98.56% (computed by goal seek)

Load Factor, %                                                      98.00% (assumed)

Allowance for losses & own use, %                      12.00% (assumed)

Net Capacity Factor after losses & own use, %    85.00% (target net capacity factor)

Degradation rate, %                                               0.2%

 

construction period = 36 months (start 2013)

operating period = 25 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   20.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $99.41 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,462.46 11.4%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 4.5% 100.0%
Balance of Plant (BOP), % of Equipment Cost 21.0% 100.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $20.00 100.0%
Switchyard & Transformers ($000) $393.00 100.0%
Access Roads ($000/km) $91.00 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 15.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 3% 100.0%
Initial Working Capital (% of EPC) 11.0% 100.0%
Contingency (% of Total Cost) 4.0% 48.9%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $99
   EPC (Equipment, Balance of Plant, Transport) $247,778
   Transmission Line Interconnection Facility $200
   Sub-Station Facility $393
   Development & Other Costs (Civil Works, Customs Duty) $44,683
   Construction Contingency $11,458
   Value Added Tax $21,694
   Financing Costs $42,530
   Initial Working Capital $27,256
Total Uses of Fund – $000 $396,090
                                 – PhP 000 19,922,178
Sources of Fund:
   Debt $277,263
   Equity $118,827
Total Sources of Fund $396,090

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 49 %

Foreign Capital = 51 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 120 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 1 (with VAT)

Type of incentives = 1 (NO incentives)

 

Tax Assumptions:

Income Tax Holiday (Yrs) 0
Income Tax Rate % (after ITH) 30%
Property tax (from COD) 2.0%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 0.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 1%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (49% local, 51% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (Yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (Yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013           48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax         11.98%

WACC after-tax      8.38%

WACC                        10.48%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 6.71192 P/kWh = 0.13345 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel        63,373,672 2.584
Lubes              30,716 0.001
Var O&M        6,235,631 0.254
Total        69,640,019 2.839
MWh net        24,527,124
SRMC        69,640,019 2.839
Fix O&M        11,711,402 0.477
Capital Cost        83,272,630 3.395
LRMC      164,624,051 6.712

 

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 9.67    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.53        % p.a.

NPV        = (2,677,030)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.14        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – 135 mw CFB

 

Download the complete demo model for a coal-fired CFB power plant in PHP and USD currencies are shown below:

ADV Coal-Fired CFB Thermal Model3_135 MW – demo5b

ADV Coal-Fired CFB Thermal Model3_135 MW (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount, click the link below:

CFB Coal-fired 135 mw Power Project Finance Model Ver. 3 – in USD and PHP Currency

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the coal-fired CFB model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) ocean current and tidal current power plant project finance model

July 13th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) ocean current and tidal current power plant project finance model

(Lord God, bless my website and my readers that they will contribute to my charity fund for the jobless, sickly, needy, homeless, hungry and destitute. God Bless you all my friends for reading my blog and ordering my project finance models. Amen.)

Finding an easy-to-use project finance model for an ocean current and tidal current power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a tidal current power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into tidal current power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,473 $/kW (target cost)

EPC cost portion = 1,112 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 86.19 $/kW/year (target cost) = 203.36 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.40 $/MWh (target cost) = 15.89 ‘000$/MW/year (computed by goal seek)

general admin cost = 500.00 ‘000$/year (target cost)

 

Thermal power plant inputs: (not used in tidal current)

Gross heating value of tidal current fuel = 5,198 Btu/lb

Plant heat rate = 13,500 Btu/kWh (25.28% thermal efficiency)

Cost of tidal current fuel = 1.299 PhP/kg = 1,299 PhP/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 3.00 MW/unit x 10 units = 30.00 MW

 

Plant Availability Factor, %                                    86.42% (computed by goal seek)

Load Factor, %                                                      90.00% (assumed)

Allowance for losses & own use, %                      10.00% (assumed)

Net Capacity Factor after losses & own use, %    70.00% (target net capacity factor)

Degradation rate, %                                               0.2%

 

construction period = 24 months (start 2015)

operating period = 20 years (start 2017)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   6.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $29.82 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $788.72 0.0%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 10.0% 100.0%
Balance of Plant (BOP), % of Equipment Cost 31.0% 66.0%
Transmission Line Distance (km) 10.00
T/L Cost per km, 69 kV ($000/km) $84.00 100.0%
Switchyard & Transformers ($000) $3,000.00 100.0%
Access Roads ($000/km) $2,200.00 100.0%
Distance of Access Road (km) 10.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 2.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 0% 100.0%
Initial Working Capital (% of EPC) 1.0% 100.0%
Contingency (% of Total Cost) 7.5% 59.0%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
    Land Cost $30
   EPC (Equipment, Balance of Plant, Transport) $33,363
   Transmission Line Interconnection Facility $840
   Sub-Station Facility $3,000
   Development & Other Costs (Civil Works, Customs Duty) $22,667
   Construction Contingency $4,490
   Value Added Tax $3,360
   Financing Costs $5,958
   Initial Working Capital $334
Total Uses of Fund – $000 $74,041
                                 – PHP 000 3,724,071
Sources of Fund:
   Debt $51,829
   Equity $22,212
Total Sources of Fund $74,041

 

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 59 %

Foreign Capital = 41 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 0 (none)

Type of incentives = 2 (BOI incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 7
Income Tax Rate % (after ITH) 10%
Property tax (from COD) 1.5%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 1.0%
ER 1-94 Contribution (PHP/kWh) 0.0100
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 5%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 16.44% p.a. target equity returns (IRR)

Debt Share = 70% (59% local, 41% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax       11.66%

WACC after-tax     10.49%

WACC                   11.36%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 4.149573 P/kWh = 0.08342 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel                     – 0.000
Lubes                4,420 0.001
Var O&M            479,679 0.133
Total            484,099 0.134
MWh net          3,609,295
SRMC            484,099 0.134
Fix O&M          3,365,945 0.933
Capital Cost        11,293,574 3.129
LRMC        15,143,618 4.196

 

Equity Returns: (30% equity, 70% debt)

IRR          = 16.44    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 7.51    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 13.19        % p.a.

NPV        = (522,705)  ‘000$ (negative since IRR < 16.44%)

PAYBACK = 6.30        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 16.44% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Tidal Current

 

Download the complete demo model for a tidal current power plant in PHP and USD currencies are shown below:

ADV Tidal Current Model3_30 MW – demo5b

ADV Tidal Current Model3_30 MW (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount (only USD400 for two models), click the link below:

 

30 mw Tidal Current Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the tidal current model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) solar PV power plant project finance model

July 13th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) solar PV (photo voltaic) power plant project finance model

(Lord God, bless my website and my readers that they will contribute to my charity fund for the jobless, sickly, needy, homeless, hungry and destitute. God Bless you all my friends for reading my blog and ordering my project finance models. Amen.)

Finding an easy-to-use project finance model for a solar PV power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a solar PV power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into solar PV power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,700 $/kW (target cost)

EPC cost portion = 2,127 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 24.69 $/kW/year (target cost) = 1.07 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.00 $/MWh (target cost) = 2.56 ‘000$/MW/year (computed by goal seek)

general admin cost = 10.00 ‘000$/year (target cost)

 

Thermal power plant inputs: (not used in solar PV)

Gross heating value of solar PV fuel = 5,198 Btu/lb

Plant heat rate = 10,663 Btu/kWh (32.00% thermal efficiency)

Cost of solar PV fuel = 1.299 PhP/kg = 1,299 PhP/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 0.125 MW/unit x 200 units = 25.00 MW

 

Plant Availability Factor, %                                    27.13% (computed by goal seek)

Load Factor, %                                                      95.00% (assumed)

Allowance for losses & own use, %                       3.00% (assumed)

Net Capacity Factor after losses & own use, %    25.00% (target net capacity factor)

Degradation rate, %                                               0.2%

 

construction period = 12 months (start 2015)

operating period = 20 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   10.00

Cost of purchased land (PhP/sqm)                    15.00 (no land lease)

Land cost, $000 $29.82 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,508.20 21.7%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 10.0% 100.0%
Balance of Plant (BOP), % of Equipment Cost 31.0% 50.0%
Transmission Line Distance (km) 5.00
T/L Cost per km, 69 kV ($000/km) $84.00 100.0%
Switchyard & Transformers ($000) $145.00 100.0%
Access Roads ($000/km) $43.74 100.0%
Distance of Access Road (km) 5.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 2.0% 70.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 0% 100.0%
Initial Working Capital (% of EPC) 1.0% 100.0%
Contingency (% of Total Cost) 7.5% 41.0%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $30
   EPC (Equipment, Balance of Plant, Transport) $53,164
   Transmission Line Interconnection Facility $420
   Sub-Station Facility $145
   Development & Other Costs (Civil Works, Customs Duty) $1,282
   Construction Contingency $4,126
   Value Added Tax $4,576
   Financing Costs $3,262
   Initial Working Capital $532
Total Uses of Fund – $000 $67,537
                                 – PhP 000 3,396,903
Sources of Fund:
   Debt $47,276
 Equity $20,261
Total Sources of Fund $67,537

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 41 %

Foreign Capital = 59 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 0 (none)

Type of incentives = 2 (BOI incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 7
Income Tax Rate % (after ITH) 10%
Property tax (from COD) 1.5%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 1.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 5%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 16.44% p.a. target equity returns (IRR)

Debt Share = 70% (41% local, 59% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax       11.29%

WACC after-tax     10.16%

WACC                   11.10%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 9.99541 P/kWh = 0.1987 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel                     – 0.000
Lubes                1,220 0.001
Var O&M              64,281 0.060
Total              65,501 0.061
MWh net          1,074,195
SRMC              65,501 0.061
Fix O&M            920,923 0.857
Capital Cost          9,750,600 9.077
LRMC        10,737,024 9.995

 

Equity Returns: (30% equity, 70% debt)

IRR          = 16.44    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 8.02    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 13.56        % p.a.

NPV        = (426,008)  ‘000$ (negative since IRR < 16.44%)

PAYBACK = 6.52        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 16.44% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare a all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Solar PV

 

Download the complete demo model for a solar PV power plant in PHP and USD currencies are shown below:

ADV Solar PV 25 mw Model3 – demo5b

ADV Solar PV 25 mw Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount (only USD400 for two models), click the link below:

Solar PV 25 mw Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the solar PV model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

 

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) solar CSP power plant project finance model

July 12th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) solar CSP (concentrated solar power) plant project finance model

(Lord God, bless my website and my readers that they will contribute to my charity fund for the jobless, sickly, needy, homeless, hungry and destitute. God Bless you all my friends for reading my blog and ordering my project finance models. Amen.)

Finding an easy-to-use project finance model for a solar CSP power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a solar CSP power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into solar CSP power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 5,881 $/kW (target cost)

EPC cost portion = 4,526 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 24.69 $/kW/year (target cost) = 2,144.03 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.00 $/MWh (target cost) = 15.69 ‘000$/MW/year (computed by goal seek)

general admin cost = 100.00 ‘000$/year (target cost)

 

Thermal power plant inputs: (not applicable to solar CSP)

Gross heating value of solar CSP fuel = 5,198 Btu/lb

Plant heat rate = 10,663 Btu/kWh (32.00% thermal efficiency)

Cost of biomass fuel = 1.299 PhP/kg = 1,299 PhP/MT

 

Lube oil consumption rate = 5.4 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 200.00 MW/unit x 2 units = 400.00 MW

 

Plant Availability Factor, %                                    96.67% (computed by goal seek)

Load Factor, %                                                      95.00% (assumed)

Allowance for losses & own use, %                       2.00% (assumed)

Net Capacity Factor after losses & own use, %    90.00% (target net capacity factor)

Degradation rate, %                                               0.2%

 

construction period = 24 months (start 2016)

operating period = 25 years (start 2018)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   10.00

Cost of purchased land (PhP/sqm)                    15.00 (no land lease)

Land cost, $000 $29.82 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $3,209.89 15.0%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 10.0% 100.0%
Balance of Plant (BOP), % of Equipment Cost 31.0% 50.0%
Transmission Line Distance (km) 15.00
T/L Cost per km, 69 kV ($000/km) $84.00 100.0%
Switchyard & Transformers ($000) $145.00 100.0%
Access Roads ($000/km) $44.19 100.0%
Distance of Access Road (km) 15.00
Dev’t & Other Costs (land, permits, etc) (% of EPC) 2.0% 50.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 0% 100.0%
Initial Working Capital (% of EPC) 1.0% 100.0%
Contingency (% of Total Cost) 7.5% 36.5%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:

Uses of Fund:
   Land Cost $30
   EPC (Equipment, Balance of Plant, Transport) $1,810,379
   Transmission Line Interconnection Facility $1,260
   Sub-Station Facility $145
   Development & Other Costs (Civil Works, Customs Duty) $36,870
   Construction Contingency $138,649
   Value Added Tax $165,337
   Financing Costs $181,578
   Initial Working Capital $18,104
Total Uses of Fund – $000 $2,352,351
                                 – PhP 000 118,316,450
Sources of Fund:
   Debt $1,646,646
   Equity $705,705
Total Sources of Fund $2,352,351

 

Local and Foreign Cost Components (from individual cost item):

Local Capital = 36.5 %

Foreign Capital = 63.5 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables    = 30 days of expenses

Inventory    = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 0 (none)

Type of incentives = 2 (BOI incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 7
Income Tax Rate % (after ITH) 10%
Property tax (from COD) 1.5%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 1.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 5%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 14.00% p.a. target equity returns (IRR)

Debt Share = 70% (36.5% local, 63.5% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2013            48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2014           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX      0.0%            4.0%     for CAPEX (to model construction delay)

Annual US CPI – for OPEX           0.0%            2.0%     for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax       10.38%

WACC after-tax     9.34%

WACC                   10.30%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 5.51450 P/kWh = 0.10964 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC)

Item PhP 000 PhP/kWh
Fuel                      – 0.000
Lubes              86,530 0.001
Var O&M          7,889,902 0.103
Total          7,976,432 0.104
MWh net        76,947,840
SRMC          7,976,432 0.104
Fix O&M        35,245,717 0.458
Capital Cost      381,107,017 4.953
LRMC      424,329,167 5.515

 

Equity Returns: (30% equity, 70% debt)

IRR          = 14.00    % p.a. (target returns)

NPV        = 0.00    ‘000$

PAYBACK = 10.28    years

 

Project Returns: (100% equity, 0% debt)

IRR          = 11.91        % p.a.

NPV        = (13,405,736)  ‘000$ (negative since IRR < 14.00%)

PAYBACK = 7.22        years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 14.00% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare a all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Solar CSP

 

Download the complete demo model for a solar CSP power plant in PHP and USD currencies are shown below:

ADV Concentrating Solar Power (CSP) Model3 – demo5b

ADV Concentrating Solar Power (CSP) Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount (only USD400 for two models), click the link below:

CSP 400 mw Project Finance Model Ver. 3 – in USD and PHP Currency

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the solar CSP model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

How to use the advanced (regulator) onshore wind power plant project finance model

July 10th, 2017 No Comments   Posted in financial models

How to use the advanced (regulator) onshore and offshore wind power plant project finance model

(Lord God, bless my website and my readers that they will contribute to my charity fund for the jobless, sickly, needy, homeless, hungry and destitute. God Bless you all my friends for reading my blog and ordering my project finance models. Amen.)

Finding an easy-to-use project finance model for an onshore wind power plant with built-in data is sometimes difficult as some models don’t have the sophistication of a regulator template model as well as the ease of using the model and viewing immediately the results of a sensitivity change in the inputs to the model.

This is now made easy because the Input & Assumptions worksheet (tab) has combined all the input and output information in a single worksheet and placing the reports in other worksheets such as Tariff Breakdown, Construction Period, Operating Period, Financial Reports and Levelized Tariff.

Following is a sample case study on a onshore wind power plant. From the preliminary design and cost estimates, the top management would want to know if the business idea of going into onshore wind power development, construction and operation is worth the effort – is it feasible and what are the economic and financial returns for risking capital.

Here are the inputs and outputs of the advanced template model from OMT ENERGY ENTERPRISES:

——————————————————————————————-

Here are the summary of inputs:

all-in capital cost (overnight cost) = 2,213 $/kW (target cost)

EPC cost portion = 1,496 $/kW (computed by model)

refurbishment cost = 5% of EPC cost on the 10th year (overhaul)

fixed O&M cost = 39.55 $/kW/year (target cost) = 16.28 ‘000$/unit/year (computed by goal seek)

variable O&M cost = 2.00 $/MWh (target cost) = 4.85 ‘000$/MW/year (computed by goal seek)

general admin cost = 200.00 ‘000$/year (target cost)

 

Thermal power plant inputs: (not applicable to wind energy)

Gross heating value of onshore wind fuel = 5,198 Btu/lb

Plant heat rate = 13,500 Btu/kWh (25.28% thermal efficiency)

Cost of onshore wind fuel = 1.299 PhP/kg = 1,299 PhP/MT

 

Lube oil consumption rate = 0.500 gram/kWh

Density of lube oil = 0.980 kg/Liter

Cost of lube oil = 200.00 PhP/Liter

 

capacity = 1.500 MW/unit x 10 units = 15.00 MW

 

Plant Availability Factor, %                                          36.90% (computed by goal seek)

Load Factor, %                                                                95.00% (assumed)

Allowance for losses & own use, %                                3.00% (assumed)

Net Capacity Factor after losses & own use, %         34.00% (target net capacity factor)

Degradation rate, %                                                     0.2%

Annual generation                                                        46,058 (MWh gross)

44,676 (MWh net)

 

construction period = 12 months (start 2014)

operating period = 20 years (start 2016)

 

Capital cost estimation assumptions and % local cost (LC):

Power plant footprint (ha)                                   3.00

Cost of purchased land (PhP/sqm)                    25.00 (no land lease)

Land cost, $000 $14.91 100.0%
Equipment Cost ex BOP, Transport ($000/MW) $1,031.66 15.2%
Insurance, Ocean Freight, Local Transport, % of Equipment Cost 10.0% 100.0%
Balance of Plant (BOP), % of Equipment Cost 35.0% 40.0%
Transmission Line Distance (km) 25.00
T/L Cost per km, 69 kV ($000/km) $69.77 100.0%
Switchyard & Transformers ($000) $1,814.00 100.0%
Access Roads ($000/km) $51.16 100.0%
Distance of Access Road (km) 15.00
Dev’t & Other Costs (land, permits, etc.) (% of EPC) 2.0% 100.0%
VAT on importation (70% recoverable) 12% 100.0%
Customs Duty 0% 100.0%
Initial Working Capital (% of EPC) 1.0% 100.0%
Contingency (% of Total Cost) 7.5% 45.0%

 

Capital cost breakdown (‘000$): (computed values)

Uses of Fund:
   Land Cost $15
   EPC (Equipment, Balance of Plant, Transport) $22,439
   Transmission Line Interconnection Facility $1,744
   Sub-Station Facility $1,814
   Development & Other Costs (Civil Works, Customs Duty) $1,216
   Construction Contingency $2,041
   Value Added Tax $2,088
   Financing Costs $1,614
   Initial Working Capital $224
Total Uses of Fund – $000 $33,195
                                – PhP 000 1,669,612
Sources of Fund:
   Debt $23,237
   Equity $9,959
Total Sources of Fund $33,195

 

Local and Foreign Cost Components (from individual cost item):

Local Capital   = 45 %

Foreign Capital = 55 %

 

Balance Sheet Accounts:

Receivables = 30 days of revenue

Payables      = 30 days of expenses

Inventory     = 60 days of consumables

 

Imported Capital Equipment:

Customs duty = 0%

Value added tax (VAT) = 12%

VAT recovery = 70% on 5th year of operation

 

Type of input / output VAT = 0 (none)

Type of incentives = 2 (BOI incentives)

 

Tax Assumptions:

Income Tax Holiday (yrs) 7
Income Tax Rate % (after ITH) 10%
Property tax (from COD) 1.5%
Property tax valuation rate (% of NBV) 80%
Local Business Tax 1.0%
Government Share (from COD) 1.0%
ER 1-94 Contribution (PhP/kWh) 0.01
Withholding Tax on Interest (Foreign Currency) – WHT 10%
Gross Receipts Tax on Interest (Local Currency) – GRT 5%
Documentary Stamps Tax (DST) 0.5%
PEZA Incentives (% of gross income) – 0% / 5% 0%
Royalty 0%

 

Capital Structure:

Equity Share = 30% at 16.44% p.a. target equity returns (IRR)

Debt Share   = 70% (45% local, 55% foreign)

 

Debt Terms:

Local & Foreign Upfront & Financing Fees 2.00%
Local & Foreign Commitment Fees 0.50%
Local All-in Interest Rate excluding tax 10.00%
Local Debt Payment Period (from end of GP) (yrs) 10
Foreign All-in Interest Rate excluding tax 8.00%
Foreign Debt Payment Period (from end of GP) (yrs) 10
Local and Foreign Grace Period from COD (mos) 6
Local and Foreign debt Service Reserve (mos) 6

 

Foreign Exchange Rate:

Base Foreign Exchange Rate (PhP/US$) – 2014             48.0000 (construction)

Forward Fixed Exchange Rate (PhP/US$) – 2015           50.2971 (operating)

 

Escalation (CPI):

Annual Local CPI – for OPEX        0.0%            4.0%      for CAPEX (to model construction delay)

Annual US CPI – for OPEX            0.0%            2.0%      for CAPEX (to model construction delay)

 

Weighted Average Cost of Capital:

WACC pre-tax           11.37%

WACC after-tax        10.23%

WACC                         11.16%

 

Results of Financial Analysis:

 

First year tariff (Feed-in-Tariff) = 6.39759 P/kWh = 0.12720 USD/kWh

(at zero equity NPV)

 

Short run marginal cost (SRMC) and Long run marginal cost (LRMC):

Item PhP 000 PhP/kWh
Fuel 0.000
Lubes 92 0.000
Var O&M 73,223 0.084
Total 73,315 0.084
MWh net 876,543
SRMC 73,315 0.084
Fix O&M 714,656 0.815
Capital Cost 4,819,795 5.499
LRMC 5,607,766 6.398

 

Equity Returns: (30% equity, 70% debt)

IRR           = 16.44     % p.a. (target returns)

NPV         = 0.00     ‘000$

PAYBACK = 8.04     years

 

Project Returns: (100% equity, 0% debt)

IRR           = 13.61         % p.a.

NPV         = (205,576)   ‘000$ (negative since IRR < 16.44%)

PAYBACK = 6.51         years

——————————————————————————————-

The above runs were based on goal-seek to make equity NPV = 0 (to meet equity IRR target of 16.44% p.a.).

You can perform sensitivity analysis and save the results in a case column (copy paste value).

You can breakdown the tariff ($/kWh) into its capital ($/kW-month) and variable cost recovery ($/kWh) portions.

You can prepare all-in capital cost breakdown showing interest cost during construction and does model the impact of project construction delays.

You can show the evolution of capacity and generation (degradation) during the operating period and show other revenues, expenses and balance sheet accounts as they change over time during operation years.

You can show the income & expense statement.

You can show the cash flow statement.

You can show the balance sheet.

You can show the debt service cover ratio (DSCR) as it computes the cash flow available for debt service.

It also computes the benefits to cost ratio (B/C) of the project.

Finally, it computes the other financial ratios such as:

LIQUIDITY RATIOS

SOLVENCY RATIOS

EFFICIENCY RATIOS

PROFITABILITY RATIOS

MARKET PROSPECT RATIOS

 

Download the sample file below:

Model Inputs and Results – Onshore Wind

 

Download the complete demo model for an onshore wind power plant in PHP and USD currencies are shown below:

ADV Wind Onshore Model3 – demo5b

ADV Wind Onshore Model3 (USD) – demo5b

ADV Wind Offshore Model3 – demo5b

ADV Wind Offshore Model3 (USD) – demo5b

If you have actual data from your OEM and EPC suppliers, kindly share the data with me or simply enter your live data into the above models and see how the results will change immediately before your eyes. Please email me back the updated demo model with your new data so you may share it will all our readers of this blog.

 

To purchase the PHP and USD models at a discount (only USD400 for two models), click the link below:

 http://energydataexpert.com/shop/power-generation-technologies/on-shore-wind-power-project-finance-model-ver-3-in-usd-and-php-currency/

http://energydataexpert.com/shop/power-generation-technologies/advanced-offshore-wind-project-finance-model-ver-3/

 

You may place your order now and avail of a package for the unlocked model with free guidance on using it. The list price of the onshore and offshore wind model is USD1,400 and I will give you one-hour free for assistance in putting your input data into the model (via telephone or email or FB messenger).

Your energy technology selection expert.

Email me for more details and how to order off-line:

energydataexpert@gmail.com

Visit our on-line digital store to order on-line

www.energydataexpert.com

www.energytechnologyexpert.com

 

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