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NEWDELHI
PetitionNo.35/2012(SuoMotu)
Coram:1.Dr.PramodDeo,Chairperson
2.ShriV.S.Verma,Member
3.ShriM.DeenaDayalan,Member
Dateofhearing:15.03.2012
DateofOrder:27thMarch,2012
INTHEMATTEROF
DeterminationofgenericlevellisedgenerationtariffunderRegulation8oftheCentral
Electricity Regulatory Commission (Terms and Conditions for Tariff determination from
RenewableEnergySources)Regulations,2012.
ORDER
1. The Central Electricity Regulatory Commission (Terms and Conditions for Tariff
determinationfromRenewableEnergySources)Regulations,2012,(hereinafterreferred
to as the RE Tariff Regulations) provide for terms and conditions and the procedure
for determination of tariff of the following categories of Renewable Energy (RE)
generatingstations:
(a)WindPowerProject;
(b)SmallHydroProjects;
(c)BiomassPowerProjectswithRankineCycletechnology;
(d)NonfossilfuelbasedcogenerationPlants;
(e)SolarPhotovoltaic(PV);
(f)SolarThermalPowerProjects;
(g)BiomassGasifierbasedPowerProjects;and
(h)BiogasbasedPowerProject.
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2. The Regulations enjoin upon the Commission to determine the generic tariff on the
basis of the suomotu petition, for the RE technologies for which norms have been
providedintheRETariffRegulations.GenericTariffisdifferentfromtheprojectspecific
tariffforwhichaprojectdeveloperhastofilepetitionbeforetheCommissionasperthe
formatprovidedintheRETariffRegulations.Pertinently,projectspecifictariffhasbeen
envisaged for the new RE technologies and the technologies which are still at the
nascentstageofdevelopment,andtheCommissionshalldeterminetheprojectspecific
tariffforsuchtechnologiesonacasetocasebasis.
3. Clause (1) of Regulation 8 of the RE Tariff Regulations provides that the Commission
shalldeterminethegenerictariffonthebasisofsuomotupetitionatleastsixmonthsin
advance at the beginning of each year of the Control period for renewable energy
technologies for which norms have been specified under the Regulations. The
Commission has notified the RE Tariff Regulations on 06.02.2012. The Commission, in
due discharge of the mandate under Regulation 8(1) of RE Tariff Regulations has
determinedthegenerictariffoftheREprojectsforthefirstyearofcontrolperiod(i.e.
FY201213)throughthisOrder.
4. TheCommissionissuedOrderproposingDeterminationofgenericlevellisedgeneration
tariff under Regulation 8 of the Central Electricity Regulatory Commission (Terms and
ConditionsforTariffdeterminationfromRenewableEnergySources)Regulations,2012
(Petition No. 35/2012 (suomotu) dated 28th February, 2012 for inviting comments/
suggestion/objectionsfromthestakeholders.
5. TheCommissionvideitspublicnoticeno.(PetitionNo.35/2012(suomotu)dated29th
February, 2012 invited comments from the various stakeholders. In response to the
samewrittencomments/suggestionsreceivedfromfollowingstakeholders:
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NameoftheStakeholder
SathyamGreenPowerPvt.Ltd.
BharatGreenEnergyPvt.Ltd
TranstechGreenPowerPvt.Ltd.
HarsilHydroLtd.
DalkiaEnergyServicesLtd.
AshdenIndiaCollective
TranscarbEnergyPvt.Ltd.
KalpataruPowertransmissionLimited
IndianBiomassPowerAssociation
OrientGreenPowerCompanyLtd.
SanjogSugars&EcoPower(P)Ltd.
GlobalPowertechEquipmentsLtd.
ShriramPowergenLtd.
ShriramNonConventionalEnergyLtd.
AmritEnvironmentalTechnologies(P)Ltd.
PSRGreenPowerProjectsPvt.Ltd.
BiomassPowerProducersAssociation,Tamilnadu
SynergyShaktiRenewableEnergyLtd.
ETAPowergenPvt.Ltd.
MeritBiozenLtd.
AuroMiraBioPowerIndiaPvt.Ltd.
A2ZGroup
JalandharygadHydroPvt.Ltd.
SiyangadHydroPvt.Ltd.
KakoragadHydroPvt.Ltd
IndianWindPowerAssociation
GEEnergy
MaharashtraBiomassEnergyDevelopersAssociation
CogenerationAssociationofIndia
EnergyInfratechPvt.Ltd.
MinistryofNewandRenewableEnergy(MNRE)
6. Subsequently,apublichearingwasheldon15thMarch,2012andfollowingstakeholders
expressedtheirviews/suggestions/commentsinperson:
1.
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3.
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7.
[Typetext]
SathyamGreenPowerPvt.Ltd.
BharatGreenEnergyPvt.Ltd
TranstechGreenPowerPvt.Ltd.
SynergyShaktiRenewableEnergyLtd.
DalkiaEnergyServicesLtd.
KalpataruPowertransmissionLimited
JalandharygadHydroPvt.Ltd.
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8.
9.
10.
SiyangadHydroPvt.Ltd.
KakoragadHydroPvt.Ltd
IndianWindPowerAssociation
7. TheCommissionhasanalysedtheviews/comments/suggestionsofthestakeholdersand
theCommissionsdecisionsareasbelow;
A.
GeneralPrinciples
I.
ControlPeriod
Comments:
Thecontrolperiodshouldbemade2yearsinsteadof3yearsfordeterminingBiomass
fuel prices. (Transtech Green Power Pvt. Ltd., Indian Biomass Power Association,
Orient Green Power Company Ltd., Sanjog Sugars & Eco Power (P) Ltd., Global
Powertech Equipments Ltd., Shriram Powergen Ltd., Shriram NonConventional
EnergyLtd.AmritEnvironmentalTechnologies(P)Ltd.,PSRGreenPowerProjectsPvt.
Ltd.,BiomassPowerProducersAssociation,Tamilnadu,ETAPowergenPvt.Ltd.)
Biomassfuelpricestobedeterminedannuallyandsamebepassthroughinthetariffas
suggestedearlierbytheMinistry.(MNRE)
Acontrolperiodof23yearsshouldbeconsideredduetocostescalationandvolatility
asinflationinIndiaisabout8%onanaverage.(IWPA)
Acontrolperiodoftwo(2)financialyearsismostdesirablewhichshouldbeappliedin
thisRegulation.(MaharshtraBiomassEnergyDevelopersAssociation)
AnalysisandDecision
TheRETariffRegulationsspecifytheControlPeriod.Thereviewofthesameisnotthe
subjectmatterofpresentregulatoryprocesswhichhasbeeninitiatedfordetermination
ofgenerictariffforFY201213.
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B.
FinancialPrinciples
I.
ReturnonEquity
Comments:
Normativereturnonequityshouldberevisedto24%reflectthehighermonetaryrates
prevailinginthemarketanditshouldincreaseproportionallywithincreasesininterest
ratesasisreflectedintheinternationallyacceptedCAPMmethod.(HarsilHydroLtd.)
Return on Equity may be considered at 24% considering the various risks involved in
setting up and operating SHP schemes in remote Himalayan sites. Also, during
constructionperiodthereisnilreturnonequityinvestedwhichshouldbecompensated
in subsequent period after commissioning. (Synergy Shakti Renewable Energy Ltd.,
MeritBiozenLtd.,AuroMiraBioPowerIndiaPvt.Ltd.)
AnalysisandDecision
TheRETariffRegulationsspecifytheReturnonEquity.Thereviewofthesameisnotthe
subjectmatterofpresentregulatoryprocesswhichhasbeeninitiatedfordetermination
ofgenerictariffforFY201213.
II.
RateofInterestontermloan
Comments:
Rateofinterestontermloanforbiogasbasedpowerprojectmaypleasebeconsidered
@14%fordeterminationoftariff.(BharatGreenEnergyPvt.Ltd.)
Applicable Interest rates currently in force are in the range of 1414.5% p.a. (Energy
InfratechPvt.Limited)
Theinterestratesforthetermloanareintherangeof15.5%to17%.(TranstechGreen
Power,ETAPowergenPvt.Ltd.,ETAPowergenPvt.Ltd.)
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SBI BPLR should be used as the normative interest rate. Otherwise, we urge CERC to
kindlyjustifythelowerinterestratesbyprovidinginformationon201112interestrates
being offered by IREDA for SHPs and the percentage of SHPs that qualify and receive
fundingfromIREDA.(HarsilHydroLtd.)
Suggested to specify the normative interest rate at the prevailing rate of 15.5 17%.
(Indian Biomass Power Association, Orient Green Power Company Ltd., PSR Green
PowerProjectsPvt.Ltd.,BiomassPowerProducersAssociation,Tamilnadu)
InterestrateforprojecttermloansshouldbedeterminedatSBIBaserateplusaspread
of300basispointsandforworkingcapitalloansatSBIbaserateplusaspreadof400
basispoints.(SynergyShaktiRenewableEnergyLtd.,MeritBiozenLtd.,AuroMiraBio
PowerIndiaPvt.Ltd.)
Interestratesarehigherforprojectloansandalsoforworkingcapitalthan12.3%and
12.8 % presently considered by CERC. Applicable lending rates to SHP projects may
pleasebetakenfromIREDA,SBIetctoreflectpresentscenario.(JalandharygadHydro
Pvt.Ltd.,SiyangadHydroPvt.Ltd.,KakoragadHydroPvt.Ltd)
InterestratemustbespecifiedatStateBankrateplus600basispointsaseventhebest
companieswithexcellentcreditratingareunabletogetat300basispoints.Twoyears
moratorium period in loan repayment should be considered. (Indian Wind Power
Association)
AnalysisandDecision
The RE Tariff Regulations specify the normative Rate of Interest on Term Loan. The
review of the same is not the subject matter of present regulatory process which has
beeninitiatedfordeterminationofgenerictariffforFY201213.
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III.
RateofInterestonWorkingCapital
Comments:
Rate of interest on working capital for biogas based power project may please be
considered @ 14.5% for determination of tariff. (Bharat Green Energy Pvt. Ltd.,
TranscarbEnergyPvt.Ltd.)
Thecurrentinterestrateforworkingcapitalisbetween15%to17%.(TranstechGreen
PowerPvt.Ltd.)
InterestonWorkingCapitalshouldbSBIRateplus600nbasispointsor14.5%.Someof
the states utilities are not making payment in time, it is suggested that 6 months
revenue should be considered for working capital instead of 2 months. Maintenance
@30%ofO&Mtobetaken.(IndianWindPowerAssociation)
AnalysisandDecision
TheRETariffRegulationsspecifythenormativeRateofInterestonWorkingCapital.The
review of the same is not the subject matter of present regulatory process which has
beeninitiatedfordeterminationofgenerictariffforFY201213.
IncaseofBiomassbasedgeneration,Interestonworkingcapitalhasbeentaken10.30%
insteadof12.80%.(A2ZMaintenance&EngineeringServicesLimited)
AnalysisandDecision
Commentshavebeennotedandincorporated.
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IV.
Depreciation
Comments:
In case of Non fossil fuel based generation, Depreciation after 12years has been
considered at 3.95% instead of 2.5%. (A2Z Maintenance & Engineering Services
Limited)
AnalysisandDecision
Commentshavebeennotedandincorporated.
V.
CDMBenefits
Comments:
The carbon credits generated are an incentive for the developers to install renewable
energyprojects;henceshouldberetainedbythegeneratingcompaniesandnotshared
with the beneficiaries. (Harsil Hydro Ltd., Jalandharygad Hydro Pvt. Ltd., Siyangad
HydroPvt.Ltd.,KakoragadHydroPvt.Ltd)
AnalysisandDecision
TheRETariffRegulationsspecifythemechanismofsharingofCDMbenefit.Thereview
of the same is not the subject matter of present regulatory process which has been
initiatedfordeterminationofgenerictariffforFY201213.
C.
WindEnergyProjects
I.
Capitalcost
Comments:
Commission should review the Capital cost assumptions for establishing tariffs as the
current higher efficiency MW class technology has an average CAPEX, significantly
higherthanKWclassmachines.(GEEnergy)
In case IDC and O&M charges is required to be borne by WEG the same should be
recovered through tariff mechanism and the capital cost should cover cost incurred
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upto interconnection and same should be specified at ` 633 Lakh/MW. (Indian Wind
PowerAssociation)
II.
CERCWindEnergytariff
Comments:
GEEnergysuggestedthatCERCtariffnormsshouldbeimplementedinallstates.
CERC should determine project specific tariff for repowering and offshore projects as
repoweringneedshigherincentivesasthedevelopershastoaccountfordismantlingof
the older turbines. For offshore wind turbines over project cost is significantly higher
becauseofturbinesizeandtechnology.(GEEnergy)
III.
RevisedWPDCUF
Comments:
GEEnergysupportstherevisedWindPowerDensity(WPDcharacterizationswebelieve
thatthiswouldspuradditionaldevelopmentinthewindenergysector.(GEEnergy)
CUFshouldberevisedasgoodwindzonesiteshasbeenutilizedandtheleftoverisonly
lowwindzone.TheCUFinTamilNaduislessthan19%forthepastyearswhereWPDis
300400W/M2.(IndianWindPowerAssociation)
AnalysisandDecision
TheRETariffRegulationspecifythenormativeparametersforwindenergyprojectsfor
determinationoftariffforFY201213.Thereviewofthesameisnotthesubjectmatter
of present regulatory process which has been initiated for determination of generic
tariff.
IV.
OtherSuggestionsfromIndianWindPowerAssociation(IWPA)
Mustrunstatusshouldbegiventowindenergyprojects.
Forecastingofwindenergygenerationwithinrangeof+/30%asperIEGC2010
isnotpossible.
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AnalysisandDecision
ThereviewoftheabovementionedassuggestedbyIWPAarenotthesubjectmatterof
presentregulatoryprocesswhichhasbeeninitiatedfordeterminationofgenerictariff.
D.
SmallHydroProjects
I.
CapitalCost
Comments:
Thecapitalcostofsmallhydroprojectsbetween525MW,locatedinthehillyregions
ofHP,UttarakhandandtheNorthEast,iscurrentlybetween`8croreperMWand`10
croreperMW.Requiringnewprojectstobefundedat`7.00croreperMWisunfair,
unrealistic, and completely ignores the financial reality of implementation. In the
absence of further project cost information, it is urged that CERC kindly revise the
Capital Cost norms upwards to ` 8.17 crore or otherwise kindly undertake further
investigationastotherealityonthegroundintermsofactualimplementationcosts.
Transmissionlinecostsshouldbeaddedseparatelytotheprojectcostdependingonthe
distance and the voltage of the line to be constructed. (Harsil Hydro Ltd., Synergy
ShaktiRenewableEnergyLtd.,MeritBiozenLtd.,AuroMiraBioPowerIndiaPvt.Ltd.)
ThecapitalcostforSHPinUttarakhand/HimachalandNEStatesofRs700lacs/Mwfor
525MW,and770lacs/Mwforupto5MWisextremelylowandnotreflectiveofpresent
capitalcostswhichareclosetoRs9croresto10crores/MW.Determinationofcapital
costs may please be done in consultation with reputed bodies like IREDA, AHECIIT
Roorkee, WRTDC Roorkee, UJVNL Ltd Uttarakhand, prominent consultants like Indo
CanadianConsultancyLtdNOIDA,HutarewDelhi,SMECGurgaonorothersimilar,and
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alsorecentlytakenupSHPprojectscostsmaybeobtained.Capitalcostdeterminations
maypleasebebasedonactualsupporteddataandjustifiedinmoredepthbeforefinal
fixation of tariff. The proposed tariff for SHPs needs to be duly revised to reflect the
increase in project capital cost from that proposed presently. . (Jalandharygad Hydro
Pvt.Ltd.,SiyangadHydroPvt.Ltd.,KakoragadHydroPvt.Ltd)
Further submitted that the MNRE Capital subsidy is a developer incentive and should
notbeusedforreducingtariff.Capitalsubsidyshouldgototheprojectdeveloperasno
equity return is being paid for project construction period of 3 years (i.e. date of
financialclosuredatetocommencementofgenerationdate.(HarsilHydroLtd.)
Capital subsidy benefits should be allowed to be retained by the developer to
mitigate his project risks. (Jalandharygad Hydro Pvt. Ltd., Siyangad Hydro Pvt. Ltd.,
KakoragadHydroPvt.Ltd)
TheCapitalCostandO&MexpensesarehigherinHimachalPradesh,Uttarakhandand
NorthEasternStatesascomparedtotheotherStates.However,thenettariffofthese
StatesislowerascomparedtoOtherStates.(EnergyInfratechPvt.Limited)
AnalysisandDecision
TheRETariffRegulationspecifythebasecapitalcostforFY201213.Thereviewofthe
base project cost of Small Hydro Power plant and consideration of the cost of
evacuation beyond the interconnection point, are not the subject matter of present
regulatoryprocesswhichhasbeeninitiatedfordeterminationofgenerictariff.
II.
O&MExpenses
Comments:
TheO&Mcostsareverylowandneedtobeatleast2.5%ofCapitalCostandadditionally
insurance cost of 1% allowed to cover natural disasters. As these SHP projects are
proposedinHimalayanregionwhichisunderhighseismic/earthqukezoneandproneto
natural calamities, due safeguard in form of insurance coverage is required to protect
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investment and bank exposure. 1% insurance for areas within seismic zone V may be
considered,with0.2%reductionforeachstagereductioninseismiczonearea(foregin
seismic zone IV insurance may be allowed at 0.8%).(Jalandharygad Hydro Pvt. Ltd.,
SiyangadHydroPvt.Ltd.,KakoragadHydroPvt.Ltd)
AnalysisandDecision
The RE Tariff Regulation specify the normative O & M expenses for FY 201213. The
review of the same is not the subject matter of present regulatory process which has
beeninitiatedfordeterminationofgenerictariff.
E.
Biomassbasedpowerplant(RankineCycleTechnology)
I.
BiomassPrice
Comments:
BiomasspricespecifiedforHaryana(`2635/toone)&Punjab(`2756/tonne)arehigher
thantheRajasthan(`2300/tonne).ThishasresultedintransportationofBiomassoutof
RajasthanandconsequentlythepricesofBiomassinRajasthanhavealsoreachedthat
level.ItisthereforerequestedthatthepriceofBiomassforRajasthanmaybetakenthe
sameasPunjab.(SathyamGreenPowerPvt.Ltd.)
There is volatility in fuel price and if correct fuel prices are not given, the developer
wouldstruggleandplantwouldstopashappeninginthecountry.Thereshouldbeclear
policy and guidelines of fixing the variable cost on fuel cost on annual independent
surveyeitherconductedbyCERCorMNRE.(TranstechGreenPowerPvt.Ltd.)
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Eauctionpriceofcoalless10%tobespecifiedasbiomasspriceasitisexpectedtobe
cheaper than coal by about 10%. The eauction prices are based on market forces of
demand and supply and decided by Coal India Ltd. in a most transparent manner.
(SathyamGreenPowerPvt.Ltd.)
The biomass fuel adjustment mechanism (FAM) should consider the base price
preparation and also the transporttin cost on "as fired basis" rather than "as received
basis".(IndianBiomassPowerAssociation,OrientGreenPowerCompanyLtd.,Sanjog
Sugars&EcoPower(P)Ltd.,GlobalPowertechEquipmentsLtd.,ShriramPowergen
Ltd., Shriram NonConventional Energy Ltd., Amrit Environmental Technologies (P)
Ltd., PSR Green Power Projects Pvt. Ltd., Biomass Power Producers Association,
Tamilnadu,,ETAPowergenPvt.Ltd.)
TheCommissionmayfixthebiomassfuelpriceconsideringtheactualmarketposition
and fix at ` 3800/tonne with an annual escalation of 10% p.a. (Maharashtra Biomass
EnergyDevelopersAssociation)
II.
EscalationinPriceofBiomass
Comments:
Theescalationinthepricesofcoalwhichhasgoneupbymorethan30%,whereasthe
formula considers only 5%. Commissions should allow fuel price adjustment on
quarterlybasis.
IndependentconsultantappointedbyRERCconcludedthattherewouldbeabout17%
and15%annualincreaseinthepricesofbiomassatthefarmersendinF.Y.201112and
201213.(SathyamGreen)
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III.
StationHeatRate
Comments:
SHRof4000isnotrealisticandpracticalandshouldbetakenas4400.(SathyamGreen
PowerPvt.Ltd.)
SHR for biomass power plants may be considered @ 4500kCal/kWh based on CEA
Report published in 2005. (Indian Biomass Power Association, Orient Green Power
Company Ltd., Sanjog Sugars & Eco Power (P) Ltd., Global Powertech Equipments
Ltd., Shriram Powergen Ltd., Shriram NonConventional Energy Ltd., Amrit
Environmental Technologies (P) Ltd., PSR Green Power Projects Pvt. Ltd., Biomass
Power Producers Association, Tamilnadu, Synergy Shakti Renewable Energy Ltd.,
Merit Biozen Ltd., Auro Mira Bio Power India Pvt. Ltd., ETA Powergen Pvt. Ltd.,
MaharashtraBiomassEnergyDevelopersAssociation,MNRE)
IV.
GrossCalorificValue
Comments:
NormativeGCVmaybetakenas3100Kcal/Kg.(SathyamGreenPowerPvt.Ltd.)
The GCV of fuel deteriorate on storage, the fuel has dust, sand and moisture. GCV as
feed basis is only between 2600 to 2800 kCal/kg. The GCV of Juliflora based plant is
around2800kCal/kg,whichhasbeenalsocapturedintheindependentsurveyofstate
government.(TranstechGreenPowerPvt.Ltd.,ETAPowergenPvt.Ltd.)
Itisrequestedthatthispeculiardifficultyincaseofbiomassstoragemaybeconsidered
andminimum2%lossesinstoragemaybeallowed.ItmaybementionedthatRREChas
allowed2%lossesonthisaccount.(SathyamGreenPowerPvt.Ltd.)
Thebiomassplantsaretobeoperatedwiththeminimummoisturecontentof2530%,
which affects the GCV to a level of 2600 to 2800 kCal/Kg on as fed basis. (Indian
BiomassPowerAssociation,OrientGreenPowerCompanyLtd.,SanjogSugars&Eco
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Power(P)Ltd.,GlobalPowertechEquipmentsLtd.,ShriramPowergenLtd.,Shriram
NonConventionalEnergyLtd.,AmritEnvironmentalTechnologies(P)Ltd.)
As per our experience, the average GCV (after taking into account losses due to
moisture ) is 200 kCal/kg on fired basis. (Synergy Shakti Renewable Energy Ltd. ,
MeritBiozenLtd.ETAPowergenPvt.Ltd.)
Biomassplantswillnotrunonsinglefuelandamixofwoodyandnonwoodybiomass
shallbeusedtofiretheplant.HencetheGCVofthefuelwouldbedependingonthe
percentage mix of fuel to be used for generation of power. (Maharashtra Biomass
EnergyDevelopersAssociation)
WhiledeterminingtheGCV,factorssuchasGCVdeteriorationonstorageforlongterm
asthebiomassdegradeswithtime,tobeconsidered.(MNRE)
V.
O&MExpenses
CurrentlyO&Mlevelarerangingfrom`40to`45Lakh/MW.(TranstechGreenPower
Pvt.Ltd.,ETAPowergenPvt.Ltd.)
RequestedtoreconsidernormativeO&Mchargesat`45Lakh/MWasagainstnotifiedat
`24Lakh/MWintheRETariffRegulation2012,consideringO&Mexpensesallowedfor
BadarpurandTalcharTPSat`34.12Lakh/MWand`38.70Lakh/MWrespectivelyand
higherinflationinpasttwoyears.(KalpataruPowertransmissionLimited)
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ItisrequestedthatFuelstackingandfeedingcostcostmaybeallowedinadditiontothe
O&M cost as it is peculiar for biomass power plants unlike other RE plants. (Sathyam
GreenPowerPvt.Ltd.)
O&MexpensesofBiomassoncurrentlevelsarerangingfrom`40to`45Lakh/MW.
(IndianBiomassPowerAssociation,OrientGreenPowerCompanyLtd.,SanjogSugars
& Eco Power (P) Ltd. , Global Powertech Equipments Ltd., Shriram Powergen Ltd.,
ShriramNonConventionalEnergyLtd.AmritEnvironmentalTechnologies(P)Ltd.,PSR
GreenPowerProjectsPvt.Ltd.,BiomassPowerProducersAssociation,Tamilnadu)
The O&M expenses specified in the Regulation are at about 5.4% on the Capital Cost.
The Capitalcost of the plantmay kindly beconsideredas `600 Lakh/MW (water coled
condensers)and`34.56lakh/MW(AirCooledcondensers)determiningO&Mexpenses
at`32.4Lakh/MWand`34.56Lakh/MWrespectivelywithanannualescalationrateof
atleast7%.(MaharashtraBiomassEnergyDevelopersAssociation)
VI.
CapitalCost
Comments:
Theminimumcapitalcostforaircooledcondensertechnologyis` 650lakhs/MW.The
additionalcapitalcostduetoaircooledcondenseris`50lakhs/MW.Thus,thecapital
cost for water cooled technology should be minimum ` 600 lakhs/MW. It is also seen
thatthecapitalcostforwindhasbeenincreasedby11.65%.Ifthesamepercentageof
increaseisappliedtobiomasspowerplant,thecapitalcostshouldbe`502.43lakhs/
MWforwatercooledtechnology.(SathyamGreenPowerPvt.Ltd.)
Keeping ` 445 Lakh/MW as capital cost for biomass power plants in Rajasthan is
irrelevant and unfeasible and unrealistic. The SERC in the past has already evaluated
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Page16
these points and had fixed acapital cost of ` 586 Lakh/MW. (Transtech Green Power
Pvt.Ltd.)
Thenewbiomasspowerprojectscostis` 570580Lakhs/MW.(IndianBiomassPower
Association,OrientGreenPowerCompanyLtd.,SanjogSugars&EcoPower(P)Ltd.,
PSR Green Power Projects Pvt. Ltd., Biomass Power Producers Association,
Tamilnadu,ETAPowergenPvt.Ltd.)
Reviewoftheassumptions,particularlyinrespectofGCV,Fuelcost,SHR,PLFandcapital
costandacceptanceoftherecommendationsfrombyMNREinrespectoftheseitems.
(DalkiaEnergyServicesLtd.)
Itissubmittedthat,appointmentofanexpertcommitteecomprisingofmembersfrom
CERC Technical wing, CEA, MNRE, IISC Bangalore or IIT Mumbai, Biomass power
associations,Biomasspowerconsultants,reputedtechnologysuppliertogointodetails
andreviewandmakerecommendations.(DalkiaEnergyServicesLtd.)
Capitalcostfornewbiomasspowerplantshouldbedeterminedat`550Lakh/MWfor
FY201213.(SynergyShaktiRenewableEnergyLtd.,MeritBiozenLtd.,AuroMiraBio
PowerIndiaPvt.Ltd.)
TheCapitalcostforthebiomassprojectsshouldbeconsideredat`600Lakhbasedon
Water cooled condenser and ` 640 Lakh/MW for those projects based on Air Cooled
condenser.(MaharashtraBiomassEnergyDevelopersAssociation)
Thecapitalcostofrecentlycommissionedbiomasspowerplantsareintherangeof`
550Lakh/MWmainlyduetodeploymentofhighpressureboilers(60kg/cm2&above),
biomass collection / compaction / shredding equipment, air cooled condensers & RO
plantstoovercomewatershortages&quality,etc.(CogenerationAssociationofIndia)
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Page17
Capital cost norm need revision based on recently commissioned biomass power
projectswhichareintherangeof`550to`600Lakh/MW.(MNRE)
VII.
Aux.Consumption
Comments:
The auxiliary consumption in aircooled technology is not less than 12%. In Juliflora
basedplant,thereishugeelectricityrequirementforrunningwoodChippersandwood
Shredderandtheauxiliaryconsumptionis13%.(TranstechGreenPowerPvt.Ltd.)
Itisrequestedtoconsideranincreaseinaux.consumptionbyanincremental2%to12%
forallbiomassbasedpowerplantsinstalledwithdrycoolingsystems.(IndianBiomass
PowerAssociation,OrientGreenPowerCompanyLtd.,GlobalPowertechEquipments
Ltd.,ShriramPowergenLtd.ShriramNonConventionalEnergyLtd.,PSRGreenPower
Projects Pvt. Ltd., Biomass Power Producers Association, Tamilnadu, ETA Powergen
Pvt.Ltd.)
Requested that this norm may be fixed at minimum 12%. (Synergy Shakti Renewable
EnergyLtd.,MeritBiozenLtd.,AuroMiraBioPowerIndiaPvt.Ltd.)
Since the biomass plants after stabilization period perpetually run at maximum about
7080%,theAuxiliaryconsumptionshouldbeassumedas11.5%.(MaharashtraBiomass
EnergyDevelopersAssociation)
AnalysisandDecision
ThereviewofvariousnormativeparametersspecifiedforBiomassbasedpowerplants
are not the subject matter of present regulatory process which has been initiated for
determinationofgenerictariff.
[Typetext]
Page18
VII.
MinimumPerformanceValue
Comments:
Renewable energy policy guidelines could lay down Minimum Performance Value
(MPV) based on Capacity Utilization factor (CUF) based on certain conditions (e.g.
overallefficiencynotlessthan30%,plantoperationnotlessthan70%oftimebasedon
abiomassLHVof3300kCal/kg,moisturecontentlessthan15%andashlessthan10%.
AnalysisandDecision
Thegenerictariffdeterminedthroughthisorderisbasedonthenormativeparameters
specifiedintheRegulations.Thereisaninherentdisincentiveforgenerationbelowthe
normativeCUFintermsoflowerrecoveryofcost.
F.
Bagassebasedcogenerationprojects
I.
CapitalCost
The capital cost of recently commissioned non fossil fuel based cogeneration power
plantsareintherangeof`650Lakh/MWmainlyduetodeploymentofhighpressure
boilers (87 kg/cm2 & above), air cooled condensers & RO plants to overcome water
shortages&quality,tractors,conveyors,shreddersforincreasingoffseasonoperating
daysetc.(CogenerationAssociationofIndia)
G.
BiomassGasifier
I.
CapitalCost
Comments;
Capitalcostforgasificationplantsshouldbeintherangeof78Cr./MWe.(GEEnergy)
II.
O&MCost
Comments;
O&Mcostforbioenergyplantsshouldbeintherangeof0.51.0`/kWhdependingupon
thetechnology.(GEEnergy)
[Typetext]
Page19
O &M expenses of biomass gasifier power projects are higher than the Rankine cycle
basedpowerprojects.(MNRE)
AnalysisandDecision
The Regulation provides the normative Capital cost as well as O & M expenses for
biomassgasifierbasedprojectsfortheyear201213fordeterminationofthelevellised
tariff. The review of the same is not the subject matter of present regulatory process
whichhasbeeninitiatedfordeterminationofgenerictariff.
H.
Biogasbasedpowerprojects
I.
CapitalCostandCapitalSubsidy
Comments;
Capitalcostforbiomethanationplantsshouldbeintherangeof1012Cr./MWe.(GE
Energy)
AspertheprogrammeofMNREforcapitalsubsidyis,itisdisbursedtothelender/safter
successfulcommissioningoftheprojectanditisnotavailableupfrontfortheproject.As
such, the lender provides short term loan for that component (capital subsidy). The
equityrequiredfortheprojectis30%ofthecapitalcostandnotoftheNetAmount.Itis
submittedthatthecapitalsubsidyavailablefromMNREistobetreatedasshortterm
loancomponentfortheperiodof18monthsfromfinancialcloseandReturnonEquity
needstobeconsideredon30%componentofthecapitalcost.(BharatGreenEnergy
Pvt.Ltd.,TranscarbEnergyPvt.Ltd.)
AnalysisandDecision
ThereviewCapitalCostandaccountingoftheCapitalSubsidyisnotthesubjectmatter
of present regulatory process which has been initiated for determination of generic
tariff.
[Typetext]
Page20
II.
Operation&MaintenanceExpenses
Comments:
ItistosubmitthattheO&Mexpensesneedstobeconsidered`80Lakh/MWinviewof
highcostofyearlyconsumables,capitaloverhaulofbiogasengineandnormalO&Mof
the biogas based power plant. Proper O&M of the biogas based plant is the main
ingredienttoachieve90%ofPlantLoadFactorasenvisagedbytheHonbleCommission
todeterminethetariffforsuchproject
AnalysisandDecision
TheRegulationprovidesthenormativeO&Mexpensesforbiogasbasedprojectsforthe
year201213andwhichshallbeescalatedattherateof5.72%perannumoverthetariff
period for determination of the levellised tariff. Accordingly, the Commission has
consideredO&Mcostnormforbiogaspoweras`40lakh/MWforFY2012.13forthe
determinationoftariff.
The reviewof the same is not the subject matter of present regulatory process which
hasbeeninitiatedfordeterminationofgenerictariff.
[Typetext]
country
including
the
prevailing
biomass
prices.
Page21
Thegenericlevellisedgenerationtariffforvariousrenewableenergytechnologies,for
FY201213
1. The generic levellised generation tariff for various renewable energy technologies, for
FY201213arediscussedbelow:
USEFULLIFE
2. Clause (aa) of subRegulation (1) of Regulation 2 of the RE Tariff Regulations defines
usefullifeinrelationtoaunitofageneratingstation(includingevacuationsystem)to
mean the following duration from the date of commercial operation (COD) of such
generationfacility:
RenewableEnergyProjects
Years
Windenergy
25
SmallHydro
35
Biomass
20
Nonfossilfuelcogeneration
20
SolarPV
25
SolarThermal
25
BiomassGasifier
20
Biogas
20
CONTROLPERIOD
3. Regulation 5 of the RE Tariff Regulations provides that the control period for
determinationoftariffforrenewableenergyprojects(REprojects)shallbeoffiveyears.
ThefirstyearofthecontrolperiodisfromFY201213.TheProvisotothesaidregulation
stipulates that the tariff determined for the RE projects commissioned during the
controlperiodshallcontinuetobeapplicablefortheentiredurationofthetariffperiod
asspecifiedinRegulation6oftheRETariffRegulations.
[Typetext]
Page22
TARIFFPERIOD
4.
IntermsofRegulation6oftheRETariffRegulations,thetariffperiodinrespect
oftheREprojectsisasunder:
RenewableEnergyProjects
Years
Windenergy
13
SmallHydrobelow5MW
35
SmallHydro525MW
13
Biomass
13
Nonfossilfuelcogeneration
13
SolarPVandSolarThermal
25
BiomassGasifierandBiogas
20
In terms of clauses (e) and (f) of the said regulation, the tariff period specified above
shall be reckoned from the date of commercial operation of the RE projects and the
tariffdeterminedundertheregulationsshallbeapplicableforthedurationofthetariff
period.
TARIFFSTRUCTURE
5.
Clause(1)ofRegulation9oftheRERegulationsstipulatesthatthetariffforRE
projectsshallbesingleparttariffconsistingofthefollowingfixedcostcomponents:
(a)Returnonequity;
(b)Interestonloancapital;
(c)Depreciation;
(d)Interestonworkingcapital;
(e)Operationandmaintenanceexpenses;
For renewable energy technologies having fuel cost component, like biomass power
projectsandnonfossilfuelbasedcogeneration,singleparttariffwithtwocomponents,
fixedcostcomponentandfuelcostcomponent,istobedetermined.
[Typetext]
Page23
TARIFFDESIGN
6.
"(1)ThegenerictariffshallbedeterminedonlevellisedbasisfortheTariff
Period.
Providedthatforrenewableenergytechnologieshavingsingleparttariff
with two components, tariff shall be determined on levellised basis
considering the year of commissioning of the project for fixed cost
component while the fuel cost component shall be specified on year of
operationbasis.
(2) For the purpose of levellised tariff computation, the discount factor
equivalent to Post Tax weighted average cost of capital shall be
considered.
(3)LevellisationshallbecarriedoutfortheusefullifeoftheRenewable
EnergyprojectwhileTariffshallbespecifiedfortheperiodequivalentto
TariffPeriod.
LEVELLISEDTARIFF
7.
LevellisedTariffiscalculatedbycarryingoutlevellisationforusefullifeofeach
technologyconsideringthediscountfactorfortimevalueofmoney.
DiscountFactor
The discount factor considered for this purpose is equal to the Post Tax weighted
averagecostofthecapitalonthebasisofnormativedebt:equityratio(70:30)specified
intheRegulations.Consideringthenormativedebtequityratioandweightedaverageof
theposttaxratesforinterestandequitycomponent,thediscountfactoriscalculated.
[Typetext]
Page24
InterestRateconsideredfortheloancomponent(i.e.70%)ofCapitalCostis12.30%(as
explained later). For equity component (i.e. 30%) rate of Return on Equity (ROE)
considered at Post Tax ROE of 16% considered. The discount factor derived by this
methodforalltechnologyis10.62%.
CAPITALCOST
8.
Regulation 12 of the RE Tariff Regulations stipulates that the norms for the
capital cost as specified in the technology specific chapter shall be inclusive of all capital
works like plant and machinery, civil works, erection and commissioning, financing and
interest during construction, and evacuation infrastructure up to interconnection point.
The Commission has specified the normative capital cost, applicable for the first year of
control period i.e. FY 2001213, for various RE technologies viz Wind Energy, Small Hydro
Power, Biomass Power, NonFossil Fuel based Cogeneration, Solar PV, Solar Thermal,
BiomassGasifierandBiogasbasedpowerprojects.
TechnologyspecificcapitalcostofREprojectsisdiscussedhereinunder:
(A)
CapitalCostofWindEnergyforFY201213
9.
Regulation 24 provides that the capital cost for wind energy project shall
includewindturbinegeneratorincludingitsauxiliaries,landcost,sitedevelopmentcharges
andothercivilworks,transportationcharges,evacuationcostuptointerconnectionpoint,
financingchargesandIDC.
10.
The Commission under Regulation 24 (2) has specified the normative capital
costforwindenergyprojectsas`575Lakh/MWforFY201213.
(B)CapitalcostofSmallHydroProjectsforFY201213
[Typetext]
Page25
11.
SmallHydroProjectsforthepurposeoftheRETariffRegulationscoverthose
projects which are located at the sites approved by the State Nodal Agencies/State
Governmentsusingnewplantandmachineryandwithinstalledpowerplantcapacitylower
thanorequalto25MW.
12.
The Commission under Regulation 28 (1) has specified the normative capital
costforsmallhydroprojectsforFY201213asunder:
ProjectSize
CapitalCost
(FY201213)
(`Lakh/MW)
Below5MW
770
5MWto25MW
700
OtherStates
Below5MW
600
5MWto25MW
550
Region
HimachalPradesh,
UttarakhandandNorth
EasternStates
(C)CapitalCostofBiomassbasedPowerProjectsforFY201213
13.
Biomass power project for the purpose of these Regulations covers the
projects using new plant and machinery based on Rankine cycle technology application
usingwatercooledcondenserandbiomassfuelsourceswhereuseoffossilfuelislimitedto
theextentof15%oftotalfuelconsumptiononannualbasis.
14.
TheCommissionunderRegulation34hasspecifiedthenormativecapitalcost
forthebiomasspowerprojectsbasedonRankinecycletechnologyapplicationusingwater
cooledcondenseras`445Lakh/MWforFY201213.
(D)CapitalCostofNonfossilfuelbasedCogenerationProjectsforFY201213
15.
Nonfossilbasedcogenerationhasbeendefinedastheprocessinwhichmore
than one form of energy is produced in a sequential manner by using biomass. As per
Regulation4(d)oftheRETariffRegulations,aprojecttoqualifyasthenonfossilbasedco
[Typetext]
Page26
generation project must be using new plant and machinery with topping cycle mode of
operationwhichusesthenonfossilfuelinputforpowergenerationandutilizesthethermal
energy generated for useful heat applications in other industrial activities simultaneously,
andwherethesumofusefulpoweroutputandhalfofusefulthermaloutputisgreaterthan
45%oftheplantsenergyconsumptionduringtheseason.
16.
TheCommissionunderRegulation47hasspecifiedthenormativecapitalcost
fortheNonFossilFuelBasedCogenerationProjectsas`420Lakh/MWforFY201213.
(E)CapitalCostofSolarPVbasedPowerProjectsforFY201213
17.
Solar Photo Voltaic (PV) power projects which directly convert solar energy
intoelectricityusingthecrystallinesiliconorthinfilmtechnologyoranyothertechnologyas
approved by the Ministry of New and Renewable Energy and are connected to the grid,
qualifyforthepurposeoftariffdeterminationundertheRETariffRegulations.
18.
TheCommissionunderRegulation57hasspecifiedthenormativecapitalcost
fortheSolarPVpowerprojectsas`1000Lakh/MWfortheFY201213.
(F)CapitalCostofSolarThermalbasedPowerProjectsforFY201213
19.
20.
TheCommissionunderRegulation61hasspecifiedthenormativecapitalcost
fortheSolarThermalpowerprojectsas`1300Lakh/MWfortheFY201213.
(G)CapitalCostofBiomassGasifierPowerProjectsforFY201213
21.
TheCommissionunderRegulation66hasspecifiedthenormativecapitalcost
fortheBiomassGasifierpowerprojectsbasedonRankinecycleshallbe`550Lakh/MWfor
[Typetext]
Page27
theFY201213andaftertakingintoaccountofcapitalsubsidynetprojectcostshallbe`
400Lakh/MWfortheFY201213.
(H)CapitalCostofBiogasbasedPowerProjectsforFY201213
22.
InordertoqualifyfortariffdeterminationundertheRETariffRegulations,grid
connectedbiogas based power projects that uses 100% Biogas fired engine, coupled with
Biogastechnologyforcodigestingagricultureresidues,manureandotherbiowasteasmay
beapprovedbytheMinistryofNewandRenewableEnergy.
23.
TheCommissionunderRegulation76hasspecifiedthenormativecapitalcost
fortheBiogasbasedpowerprojectsshallbe`1100Lakh/MWfortheFY201213andafter
taking into account of capital subsidy net project cost shall be ` 800Lakh/MW for the FY
201213.
24.
The capital cost for the first year (i.e. FY 201213) of the control period in
respectoftherenewableenergypowergeneratingstationsissummarizedasunder:
(1)WindEnergyProjects
CapitalCostNormforFY201112
(`Lakh/MW)
575
(2)SmallHydroProjects
RenewableEnergyProjects
(a) HimachalPradesh,UttarakhandandNorth
EasternStates(lessthan5MW)
(b) HimachalPradesh,UttarakhandandNorth
EasternStates(5MWto25MW)
770
700
(c) OtherStates(below5MW)
600
(d) OtherStates(5MWto25MW)
550
(3) BiomassPowerProjects
445
(4) NonfossilfuelbasedcogenerationPowerProjects
420
(5) SolarPVPowerProjects
1000
(6) SolarThermalPowerProjects
1300
(7) BiomassGasifierPowerProjects
400
[Typetext]
Page28
(8) BiogasPowerProjects
800
DEBTEQUITYRATIO
25.
SubRegulation(1)ofRegulation13oftheRETariffRegulationsprovidesthat
thedebtequityratioof70:30istobeconsideredfordeterminationofgenerictariffbased
onsuomotupetition.
26.
Based on the debt equity ratio of 70:30, the debt and equity components of
thenormativecapitalcostfordeterminationoftarifffortheREprojectshavebeenworked
outasunder:
Debt
(`Lakh)
Equity
(`Lakh)
402.50
172.50
539
231
490
210
420
180
385
165
311.50
133.50
(4)Nonfossilfuelcogeneration
294
126
(5)SolarPV
700
300
(6)SolarThermal
910
390
(7)BiomassGasifierbasedPowerProjects
280
120
(8)BiogasbasedPowerProjects
560
240
RenewableEnergyProjects
(1)WindEnergy(forallzones)
(2)SmallHydro
(a)HimachalPradesh,UttarakhandandNorth
EasternStates(below5MW)
(b)HimachalPradesh,UttarakhandandNorth
EasternStates(5MWto25MW)
(c)OtherStates(below5MW)
(d)OtherStates(5MWto25MW)
(3)Biomass
RETURNONEQUITY
27.
SubRegulation(1)ofRegulation16oftheRETariffRegulationsprovidesthat
the value base for the equity shall be 30% of the capital cost for generic tariff
[Typetext]
Page29
determination.SubRegulation(2)ofthesaidRegulationstipulatesthenormativereturnon
equity(ROE)asunder:
(a)20%perannumforthefirst10years,and
(b)24%perannumfromthe11thyearonwards.
INTERESTONLOAN
28.
(a) The loans arrived at in the manner indicated in the Regulation 13 shall be
considered as gross normative loan for calculation for interest on loan. The
normativeloanoutstandingasonApril1stofeveryyearshallbeworkedoutby
deductingthecumulativerepaymentuptoMarch31stofpreviousyearfromthe
grossnormativeloan.
(b)Forthepurposeofcomputationoftariff,thenormativeinterestrateshallbe
considered as average State Bank of India (SBI) Base rate prevalent during the
firstsixmonthsofthepreviousyearplus300basispoints.
(c)Notwithstandinganymoratoriumperiodavailedbythegeneratingcompany,
the repayment of loan shall be considered from the first year of commercial
operationoftheprojectandshallbeequaltotheannualdepreciationallowed".
29.
TheweightedaverageStateBankofIndia(SBI)Baserateprevalentduringthe
firstsixmonthshasbeenconsideredforthedeterminationoftariff,asshowninthetable
below:
Periodfrom
01/04/2011
25/4/2011
[Typetext]
Periodto
24/4/2011
05/11/2011
Baserate
8.25%
8.50%
Noof
Days
24
17
Page30
05/12/2011
07/10/2011
9.25%
60
07/11/2011
08/12/2011
9.50%
33
13/8/2011
30/9/2011
10.00%
49
AverageBaserateforFY1112
9.30%
183
Source:StateBankofIndia(www.statebankofindia.com)
30.
In terms of the above, the computations of interest on loan carried out for
determinationoftariffinrespectoftheREprojectstreatingthevaluebaseofloanas70%of
thecapitalcostandtheweightedaverageofBaserateprevalentduringthefirstsixmonths
ofthe(i.e.9.30%)plus300basispoints(equivalenttointerestrateof12.30%).
DEPRECIATION
31.
"(1)ThevaluebaseforthepurposeofdepreciationshallbetheCapitalCostoftheasset
admittedbytheCommission.TheSalvagevalueoftheassetshallbeconsideredas10%
and depreciation shall be allowed up to maximum of 90% of the Capital Cost of the
asset.
(2)DepreciationperannumshallbebasedonDifferentialDepreciationApproach'over
loanperiodbeyondloantenureoverusefullifecomputedonStraightLineMethod.The
depreciationrateforthefirst12yearsoftheTariffPeriodshallbe5.83%perannumand
theremainingdepreciationshallbespreadovertheremainingusefullifeoftheproject
from13thyearonwards.
(3) Depreciation shall be chargeable from the first year of commercial operation.
Provided that in case of commercial operation of the asset for part of the year,
depreciationshallbechargedonproratabasis".
[Typetext]
Page31
32.
Inaccordancewiththeabove,therateofdepreciationforthefirst12yearshas
beenconsideredas5.83%andtherateofdepreciationfromthe13thyearonwardshasbeen
spreadoverthebalanceusefullifeoftheREprojectasunder:
Wind
Energy
Details
UsefulLife(in
years)
Rateof
depreciationfor
12years(%)
Rateof
depreciation
afterfirst12
years(%)
Small
Nonfossilfuel
Biomass
Hydro
cogeneration
Solar
PV
Solar
Biomass
Thermal Gasifier
Biogas
25
35
20
20
25
25
20
20
5.83
5.83
5.83
5.83
5.83
5.83
5.83
5.83
1.54
0.87
2.50
2.50
1.54
1.54
2.50
2.50
INTERESTONWORKINGCAPITAL
33.
WindEnergy/SmallHydroPower/SolarPV/Solarthermal
a)Operation&Maintenanceexpensesforonemonth;
b) Receivables equivalent to 2 (Two) months of energy charges for sale of
electricitycalculatedonthenormativeCUF;
c)Maintenancespare@15%ofoperationandmaintenanceexpenses
[Typetext]
Page32
(2) The Working Capital requirement in respect of biomass power projects and
nonfossil fuel based cogeneration projects shall be computed in accordance
withthefollowingclause:
(3)InterestonWorkingCapitalshallbeatinterestrateequivalenttotheaverage
State Bank of India Base Rate prevalent during the first six months of the
previousyearplus350basispoints.
34.
Receivablesequivalenttotwomonthsofactualfixedcostandvariablecost,(as
applicable for biomass power and nonfossil fuel based cogeneration) have been
considered.AsmentionedintheParaNo.34,interestrateconsideredasweightedaverage
ofStateBankofIndiaBaseRateprevalentduringthefirstsixmonthsofthepreviousyear
plus350basispoints(equivalenttointerestrateof12.80%).Theinterestonworkingcapital
hasbeenworkedoutasspecifiedbelowfordeterminationoftariffoftheREprojects:
Details
Wind
Energy
Small
Hydro
Biomass,
Biomass
Gasifier
and
Biogas
Nonfossil
fuelco
generatio
n
SolarPV
Solar
Thermal
15
15
15
15
15
15
(A)ForFixedcharges
(i) O&M
expenses
(month)
(ii)
Maintenance
[Typetext]
Page33
(B)ForVariableCharges
Biomass/Bagasse stock
4
4
(months)
(C) Interest On Working
12.80
12.80
12.80
12.80
12.80
Capital(%)
SourceforSBIBaseRate:StateBankofIndia(www.statebankofindia.com)
12.80
OPERATIONANDMAINTENANCEEXPENSES
35.
OperationandMaintenanceExpenses
(1) Operation and Maintenance or O&M expenses shall comprise repair and
maintenance (R&M), establishment including employee expenses and
administrative&generalexpenses.
(2) Operation and maintenance expenses shall be determined for the Tariff
Period based on normative O&M expenses specified by the Commission
subsequentlyintheseRegulationsforthefirstYearofControlPeriod.
(3)NormativeO&MexpensesallowedduringfirstyearoftheControlPeriod(i.e.
FY201213)undertheseRegulationsshallbeescalatedattherateof5.72%
perannumovertheTariffPeriod.
36.
ThenormativeO&MexpensesforvariousREtechnologiesspecifiedunderthe
relevantprovisionsoftheRETariffRegulationsareasunder:
[Typetext]
Page34
(a) Wind Energy: Regulation 27 of RE Tariff Regulations provides that the normative
O&Mexpensesforthefirstyearofthecontrolperiod(i.e.201213)as`9lakhperMW
and shall be escalated at the rate of 5.72% per annum over the tariff period for
determinationofthelevellisedtariff.
(b) Small Hydro: Regulation 32 of RE Regulations provided for the normative O& M
expensesforsmallhydroprojectsfortheyear201213whichshallbeescalatedatthe
rateof5.72%perannumoverthetariffperiodfordeterminationofthelevellisedtariff.
ThetablebelowpresentsthenormativeO&MExpensesconsideredbytheCommission
forsmallhydropowerforFY201213;
Region
HimachalPradesh,
UttarakhandandNorth
EasternStates
OtherStates
ProjectSize
O&Mexpenses
(`Lakh/MW)
Below5MW
25
5MWto25MW
18
Below5MW
5MWto25MW
20
14
(c)Biomass:Regulation39ofRETariffRegulationsprovidesthatthenormativeO&M
expenses for biomass based projects for the year 201213 shall be ` 24 Lakh per MW
andwhichshallbeescalatedattherateof5.72%perannumoverthetariffperiodfor
determinationofthelevellisedtariff.
(e)SolarPV:Regulation59ofRETariffRegulationsprovidesthatthenormativeO&M
expenses for solar PV projects for the year 201213 shall be ` 11 Lakh per MW which
[Typetext]
Page35
shall be escalated at the rate of 5.72% per annum over the tariff period for
determinationofthelevellisedtariff.
(f) Solar Thermal: Regulation 63 of the RE Tariff Regulations specified the normative
O&Mexpensesforsolarthermalpowerprojectsshallbe`15Lakh/MWforthefirstyear
of operation, which shall be escalated at the rate of 5.72% per annum over the tariff
periodfordeterminationofthelevellisedtariff.
(g)BiomassGasifier:Regulation71oftheRETariffRegulationsspecifiedthenormative
O&Mexpensesforsolarthermalpowerprojectsshallbe`40Lakh/MWforthefirstyear
of operation, which shall be escalated at the rate of 5.72% per annum over the tariff
periodfordeterminationofthelevellisedtariff.
(h) Biogas: Regulation 80 of the RE Tariff Regulations specified the normative O&M
expensesforsolarthermalpowerprojectsshallbe`40Lakh/MWforthefirstyearof
operation, which shall be escalated at the rate of 5.72% per annum over the tariff
periodfordeterminationofthelevellisedtariff.
CAPACITYUTILISATIONFACTOR
37.
Regulations26,30,58and62oftheRETariffRegulationsspecifythenormsfor
Capacity Utilization Factor (CUF)/Plant Load Factor (PLF) in respect of the Wind Energy,
SmallHydro,SolarPVandSolarThermalbasedpowergeneratingstationsasperthedetails
giveninthetablebelowwhichhasbeenconsideredfordeterminationoftariff.
RenewableEnergyProjects
(A) WindEnergy
AnnualMeanWindPowerDensity(W/m2)
Windzone1(Upto200)
Windzone2(201250)
Windzone3(251300)
[Typetext]
CUF
20%
22%
25%
Page36
30%
32%
(B) SmallHydro
(i) Himachal Pradesh, Uttarakhand and North Eastern
States
(ii) OtherStates
(C) SolarPV
45%
30%
(D) SolarThermal
23%
19%
PLANTLOADFACTOR(PLF)
38.
Regulations36,68and 78oftheRETariffRegulationsspecifytheplantload
factorforBiomass,BiomassGasifierandBiogasbasedrenewableenergygeneratingstations
asgiveninthetablebelowwhichhasbeenconsideredfordeterminationoffixedcharges
componentoftariff.
RenewableEnergyProjects
(A) Biomass
(a) Duringstabilization(6months)
(b) During remaining period of the first year (after
stabilization)
(c) Secondyearonwards
(B) BiomassGasifier
(C)
Biogas
PLF
60%
70%
80%
85%
90%
39.
Regulation 49 of the RE Tariff Regulations stipulates the plant load factor for
Nonfossil Fuel based Cogeneration projects as under, computed on the basis of plant
availabilityfornumberofoperatingdaysconsideringtheoperationsduringcrushingseason
andoffseasonandloadfactorof92%.ThenumberofoperatingdaysfordifferentStatesas
specifiedintheRegulation49(2)isasunder:
[Typetext]
Page37
States
Operatingdays
PLF
120days(crushing)+60days(offseason)=180days
45%
180days(crushing)+60days(offseason)=240days
60%
150days(crushing)+60days(offseason)=210days
53%
UttarPradesh
andAndhraPradesh
TamilNaduand
Maharashtra
OtherStates
AUXILIARYPOWERCONSUMPTION
40.
Regulations31,37,50,64,69and79oftheRETariffRegulationsstipulatethe
auxiliarypowerconsumptionfactorasunderwhichhasbeenconsideredfordetermination
oftariffoftheREprojects:
RenewableEnergyProjects
SmallHydro
1%
Biomass
10%
Nonfossilfuelcogeneration
8.5%
SolarThermal
10%
BiomassGasifier
10%
Biogas
12%
AuxiliaryConsumptionFactor
STATIONHEATRATE
41.
TheStationHeatRates(SHR)specifiedunderRegulations38and51oftheRE
TariffRegulationsforbiomassandnonfossilfuelbasedcogenerationprojectsareasunder:
RenewableEnergyProjects
[Typetext]
SHR
(kCal/kWh)
Page38
Biomass
4000
Nonfossilfuelcogeneration
(forpowercomponent)
3600
FUEL
(a) FuelMix
42.
SubRegulation(1)ofRegulation40oftheRETariffRegulationsstipulatesthat
the Biomass based power generating stations are to be designed in a way that it uses
differenttypesofnonfossilfuelsavailablewithinthevicinityofbiomasspowerprojectsuch
as crop residues, agroindustrial residues, forest residues etc. and other biomass fuels as
maybeapprovedbytheMinistryofNonRenewableEnergy(MNRE).SubRegulation(2)of
thesaidRegulationsstipulatesthatthebiomasspowergeneratingcompaniesaretoensure
fuelmanagementplantoensureadequateavailabilityoffueltomeettherespectiveproject
requirements.
43.
Regulation70oftheRETariffRegulationsstipulatesthatthenormativespecific
fuel consumption shall be 1.25 kg per kWh for Biomass Gasifier based power generating
stations.
44.
Regulation81oftheRETariffRegulationsstipulatesthatthenormativespecific
fuelconsumptionshallbe3kgofsubstratemixperkWhforBiogasbasedpowergenerating
stations.
(b)Useoffossilfuel
45.
AsperRegulation41oftheRETariffRegulations,theuseoffossilfuelistobe
limitedtotheextentof15%oftotalfuelconsumptiononannualbasisandRegulation42of
theRETariffRegulationsprovidesthemechanismformonitoringtheuseoffossilfuelisas
under:
[Typetext]
Page39
(1) The Project developer shall furnish to the State Nodal Agency, a
monthly fuel usage statement and monthly fuel procurement statement
dulycertifiedbyCharteredAccountanttothebeneficiary(withacopyto
appropriate agency appointed by the Commission for the purpose of
monitoring the fossil and nonfossil fuel consumption) for each month,
alongwiththemonthlyenergybill.Thestatementshallcoverdetailssuch
as
a) Quantityoffuel(intonne)foreachfueltype(biomassfuelsandfossil
fuels)consumedandprocuredduringthemonthforpowergeneration
purposes,
b) Cumulative quantity (in tonne) of each fuel type consumed and
procuredtilltheendofthatmonthduringtheyear,
c) Actual (gross and net) energy generation (denominated in units)
duringthemonth,
d) Cumulativeactual(grossandnet)energygeneration(denominatedin
units)untiltheendofthatmonthduringtheyear,
e) Openingfuelstockquantity(intonne),
f) Receiptoffuelquantity(intonne)atthepowerplantsiteand
g) Closingfuelstockquantity(intonne)foreachfueltype(biomassfuels
andfossilfuels)availableatthepowerplantsite.
(2)Noncompliancewiththeconditionoffossilfuelusagebytheproject
developer, during any financial year, shall result in withdrawal of
applicability of tariff as per these Regulations for such biomass based
powerproject.
(c)Calorificvalue
46.
[Typetext]
Page40
47.
(d)Fuelcost
48.
State
AndhraPradesh
Haryana
Maharashtra
Punjab
Rajasthan
TamilNadu
UttarPradesh
OtherStates
Biomassprice
(`/tonne)
2315
2635
2695
2756
2300
2277
2355
2476
49.
State
AndhraPradesh
Haryana
Maharashtra
Punjab
[Typetext]
BagassePrice
(`/tonne)
1307
1859
1832
1636
Page41
TamilNadu
UttarPradesh
OtherStates
50.
1408
1458
1583
51.
52.
SubsidyorincentivebytheCentral/StateGovernment
53.
Regulation22oftheRETariffRegulationsprovidesasunder:
TheCommissionshalltakeintoconsiderationanyincentiveorsubsidyofferedby
the Central or State Government, including accelerated depreciation benefit if
availedbythegeneratingcompany,fortherenewableenergypowerplantswhile
determiningthetariffundertheseRegulations.
Providedthatthefollowingprinciplesshallbeconsideredforascertainingincome
taxbenefitonaccountofaccelerateddepreciation,ifavailed,forthepurposeof
tariffdetermination:
[Typetext]
Page42
ii) Capitalization of RE projects during second half of the fiscal year. Per unit
benefitshall be derivedon levellised basis at discount factor equivalentto Post
Taxweightedaveragecostofcapital.
54.
In terms of the above regulation, for the projects availing the benefit of
accelerated depreciation as per applicable Income tax rate @ 32.445% (30% IT rate+ 5%
surcharge +3% Education cess) has been considered. For the purpose of determining net
depreciationbenefits,depreciation@5.28%asperstraightlinemethod(Bookdepreciation
asperCompaniesAct,1956)hasbeencomparedwithdepreciationasperIncomeTaxrate
i.e. 80% of the written down value method and depreciation for the first year has been
calculatedattherateof50%of80%i.e.40%,asprojectiscapitalizedduringthesecondhalf
ofthefinancialyearasperproviso(ii)toRegulation22.Incometaxbenefitsofaccelerated
depreciation,hasbeenworkedoutaspernormaltaxrateonthenetdepreciationbenefit.
Perunitlevellisedaccelerateddepreciationbenefithasbeencomputedconsideringthepost
taxweightedaveragecostofcapitalasdiscountfactor.
55.
In the light of the discussion made in the preceding paragraphs, the generic
tariffsofthefollowingREprojectsforthefinancialyear201213havebeendeterminedas
under:
GenericTariffforRETechnologiesforFY201213
Particular
Levellised
TotalTariff
(`/kWh)
NetLevellisedTariff
BenefitofAccelerated
(uponadjustingfor
Depreciation
AcceleratedDepreciation
(ifavailed)
benefit)(ifavailed)
(`/kWh)
(`/kWh)
WindEnergy
WindZone1(CUF20%)
[Typetext]
5.96
0.60
5.36
Page43
WindZone2(CUF22%)
5.42
0.55
4.87
WindZone3(CUF25%)
4.77
0.48
4.29
WindZone4(CUF30%)
3.97
0.40
3.57
WindZone5(CUF32%)
3.73
0.38
3.35
SmallHydroPowerProject
HP,UttarakhandandNE
States(Below5MW)
HP,UttarakhandandNE
States(5MWto25MW)
4.14
0.32
3.82
3.54
0.29
3.25
OtherStates(Below5MW)
4.88
0.38
4.50
OtherStates(5MWto25
MW)
4.16
0.34
3.82
Levellised
FixedCost
State
(`/kWh)
NetLevellisedTariff
Variable
Benefitof
(uponadjustingfor
Applicable
Cost
Accelerated
Accelerated
TariffRate
(FY2012
Depreciation
Depreciation
(FY201213)
13)
(ifavailed)
benefit)(ifavailed)
(`/kWh)
(`/kWh)
(`/kWh)
(`/kWh)
BiomassPowerProject
Andhra
Pradesh
2.06
3.12
5.18
0.13
5.05
Haryana
2.10
3.55
5.65
0.13
5.52
Maharashtra
2.11
3.63
5.74
0.13
5.61
Punjab
2.12
3.71
5.83
0.13
5.70
Rajasthan
2.06
3.10
5.16
0.13
5.03
TamilNadu
2.06
3.07
5.12
0.13
4.99
Uttar
Pradesh
2.07
3.17
5.24
0.13
5.11
Others
2.08
3.33
5.42
0.13
5.29
NonFossilFuelbasedCogeneration
[Typetext]
Page44
Andhra
Pradesh
2.77
2.29
5.06
0.21
4.85
Haryana
2.48
3.25
5.73
0.18
5.55
Maharashtra
2.22
3.20
5.42
0.16
5.26
Punjab
2.44
2.86
5.30
0.18
5.12
TamilNadu
2.15
2.46
4.61
0.16
4.45
Uttar
Pradesh
2.80
2.55
5.35
0.21
5.14
Others
2.43
2.77
5.20
0.18
5.02
SolarPVandSolarThermal
Levellised
TotalTariff
(FY201213)
Particular
SolarPV
(`/kWh)
10.39
SolarThermal
12.46
NetLevellisedTariff
Benefitof
(uponadjustingfor
Accelerated
Accelerated
Depreciation
Depreciation
(ifavailed)
benefit)(ifavailed)
(`/kWh)
(`/kWh)
1.04
9.35
1.24
11.22
NetLevellised
Tariff
Benefitof
(uponadjusting
Accelerated forAccelerated
Depreciation Depreciation
(ifavailed)
benefit)(if
availed)
(`/kWh)
(`/kWh)
Levellised
FixedCost
Variable
Cost
(FY2012
13)
(`/kWh)
(`/kWh)
Andhra
Pradesh
2.29
3.22
5.51
0.11
5.40
Haryana
2.34
3.66
6.00
0.11
5.89
State
[Typetext]
Applicable
TariffRate
(FY201213)
(`/kWh)
BiomassGasifierPowerProject
Page45
NetLevellised
Tariff
Benefitof
(uponadjusting
Accelerated forAccelerated
Depreciation Depreciation
(ifavailed)
benefit)(if
availed)
(`/kWh)
(`/kWh)
Levellised
FixedCost
Variable
Cost
(FY2012
13)
Applicable
TariffRate
(FY201213)
(`/kWh)
(`/kWh)
(`/kWh)
Maharashtra
2.35
3.74
6.09
0.11
5.98
Punjab
2.36
3.83
6.19
0.11
6.08
Rajasthan
2.29
3.19
5.48
0.11
5.37
TamilNadu
2.28
3.16
5.44
0.11
5.33
Uttar
Pradesh
2.29
3.27
5.56
0.11
5.45
Others
2.32
3.44
5.76
0.11
5.65
3.06
BiogasbasedCogeneration
3.38
6.44
0.21
6.23
State
Biogas
56.
The detailed computations for the generic tariff for various RE technologies
havebeenenclosedtothisOrderasperthedetailsgivenhereunder:
SNo
RenewableEnergyProjects
Annexure
WindPowerProjects
WindZoneI
Annexure1A
WindZoneII
Annexure1B
WindZoneIII
Annexure1C
WindZoneIV
Annexure1D
WindZoneV
Annexure1E
[Typetext]
Page46
SNo
RenewableEnergyProjects
Annexure
SmallHydroPowerProjects
ProjectsLessthan5MWforHP,Uttarakhandand Annexure2A
NEStates
Projectsbetween5MWand25MWforHP,
Annexure2B
UttarakhandandNEStates
Projectslessthan5MWforotherStates
Annexure2C
Projectsbetween5MWand25MWforother
Annexure2D
States
C
BiomassPowerProjects
AndhraPradesh
Annexure3A
Haryana
Annexure3B
Maharashtra
Annexure3C
Punjab
Annexure3D
Rajasthan
Annexure3E
UttarPradesh
Annexure3F
TamilNadu
Annexure3G
Others
Annexure3H
NonFossilFuelBasedCogeneration
AndhraPradesh
Annexure4A
Haryana
Annexure4B
Maharashtra
Annexure4C
Punjab
Annexure4D
UttarPradesh
Annexure4E
TamilNadu
Annexure4F
Others
Annexure4G
E
[Typetext]
SolarProjects
Page47
SolarPVProjects
SolarThermalProjects
Annexure5A
Annexure6A
BiomassGasifierPowerProjects
AndhraPradesh
Annexure7A
Haryana
Annexure7B
Maharashtra
Annexure7C
Punjab
Annexure7D
Rajasthan
Annexure7E
UttarPradesh
Annexure7F
TamilNadu
Annexure7G
Others
Annexure7H
BiogasbasedPowerProjects
Annexure8A
Sd/
Sd/
Sd/
(M.DeenaDayalan)
(V.S.Verma) (Dr.PramodDeo)
Member
Member
Chairperson
[Typetext]
Page48
Annexure1A
[Typetext]
Page49
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
1
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
20%
0.00%
25
Rs Lacs/MW
575.00
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
402.50
172.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
402.50
0
12
12.30%
Rs Lacs
% p.a
Year
% p.a
172.50
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.445%
20%
Yes
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
Power plant (FY12-13)
Total O & M Expenses Escalation
Months
Months
%
Rs Lacs/MW
%
1
15%
2
12.80%
9.00
5.72%
[Typetext]
Page50
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Unit
MW
MU
Year--->
1
1
1.75
2
1
1.75
3
1
1.75
4
1
1.75
5
1
1.75
6
1
1.75
7
1
1.75
8
1
1.75
9
1
1.75
10
1
1.75
11
1
1.75
12
1
1.75
13
1
1.75
14
1
1.75
15
1
1.75
16
1
1.75
17
1
1.75
18
1
1.75
19
1
1.75
20
1
1.75
21
1
1.75
22
1
1.75
23
1
1.75
24
1
1.75
25
1
1.75
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
9.00
33.54
47.44
2.99
34.50
127.47
2
9.51
33.54
43.32
2.93
34.50
123.80
3
10.06
33.54
39.19
2.86
34.50
120.16
4
10.63
33.54
35.07
2.80
34.50
116.55
5
11.24
33.54
30.94
2.75
34.50
112.97
6
11.89
33.54
26.82
2.69
34.50
109.43
7
12.57
33.54
22.69
2.64
34.50
105.93
8
13.28
33.54
18.57
2.58
34.50
102.47
9
14.04
33.54
14.44
2.53
34.50
99.06
10
14.85
33.54
10.31
2.48
34.50
95.69
11
15.70
33.54
6.19
2.59
41.40
99.42
12
16.59
33.54
2.06
2.55
41.40
96.15
13
17.54
8.85
0.00
2.01
41.40
69.80
14
18.55
8.85
6.19
2.20
41.40
77.18
15
19.61
8.85
2.06
2.17
41.40
74.08
16
20.73
8.85
0.00
2.18
41.40
73.16
17
21.92
8.85
0.00
2.24
41.40
74.40
18
23.17
8.85
0.00
2.31
41.40
75.72
19
24.49
8.85
0.00
2.38
41.40
77.12
20
25.90
8.85
0.00
2.45
41.40
78.59
21
27.38
8.85
0.00
2.53
41.40
80.15
22
28.94
8.85
0.00
2.61
41.40
81.80
23
30.60
8.85
0.00
2.70
41.40
83.54
24
32.35
8.85
0.00
2.79
41.40
85.38
25
34.20
8.85
0.00
2.88
41.40
87.33
1
0.51
1.92
2.71
0.17
1.97
7.29
2
0.54
1.92
2.48
0.17
1.97
7.08
3
0.58
1.92
2.24
0.16
1.97
6.88
4
0.61
1.92
2.01
0.16
1.97
6.67
5
0.64
1.92
1.77
0.16
1.97
6.46
6
0.68
1.92
1.53
0.15
1.97
6.26
7
0.72
1.92
1.30
0.15
1.97
6.06
8
0.76
1.92
1.06
0.15
1.97
5.86
9
0.80
1.92
0.83
0.14
1.97
5.67
10
0.85
1.92
0.59
0.14
1.97
5.48
11
0.90
1.92
0.35
0.15
2.37
5.69
12
0.95
1.92
0.12
0.15
2.37
5.50
13
1.00
0.51
0.00
0.12
2.37
3.99
14
1.06
0.51
0.35
0.13
2.37
4.42
15
1.12
0.51
0.12
0.12
2.37
4.24
16
1.19
0.51
0.00
0.12
2.37
4.19
17
1.25
0.51
0.00
0.13
2.37
4.26
18
1.33
0.51
0.00
0.13
2.37
4.33
19
1.40
0.51
0.00
0.14
2.37
4.41
20
1.48
0.51
0.00
0.14
2.37
4.50
21
1.57
0.51
0.00
0.14
2.37
4.59
22
1.66
0.51
0.00
0.15
2.37
4.68
23
1.75
0.51
0.00
0.15
2.37
4.78
24
1.85
0.51
0.00
0.16
2.37
4.89
25
1.96
0.51
0.00
0.17
2.37
5.00
0.904
5.96
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
[Typetext]
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Rs/Unit
Page51
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.0000%
32.4450%
575.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.18
2
5.28%
30.36
3
5.28%
30.36
4
5.28%
30.36
5
5.28%
30.36
6
5.28%
30.36
7
5.28%
30.36
8
5.28%
30.36
9
5.28%
30.36
10
5.28%
30.36
11
5.28%
30.36
12
5.28%
30.36
13
5.28%
30.36
14
5.28%
30.36
15
5.28%
30.36
16
5.28%
30.36
17
5.28%
30.36
18
2.88%
16.56
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
230.00
60%
48.00%
12%
276.00
12%
9.60%
2.40%
55.20
2%
1.92%
0.48%
11.04
0%
0.38%
0.10%
2.21
0%
0.08%
0.02%
0.44
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
214.82
69.70
0.88
1.00
245.64
79.70
1.75
0.95
0.95
24.84
8.06
1.75
0.86
0.86
-19.32
-6.27
1.75
0.78
0.78
-28.15
-9.13
1.75
0.70
0.70
-29.92
-9.71
1.75
0.64
0.64
-30.27
-9.82
1.75
0.57
0.57
-30.34
-9.84
1.75
0.52
0.52
-30.36
-9.85
1.75
0.47
0.47
-30.36
-9.85
1.75
0.42
0.42
-30.36
-9.85
1.75
0.38
0.38
-30.36
-9.85
1.75
0.35
0.35
-30.36
-9.85
1.75
0.31
0.31
-30.36
-9.85
1.75
0.28
0.28
-30.36
-9.85
1.75
0.26
0.26
-30.36
-9.85
1.75
0.23
0.23
-30.36
-9.85
1.75
0.21
0.21
-16.56
-5.37
1.75
0.19
0.19
0.00
0.00
1.75
0.17
0.17
0.00
0.00
1.75
0.15
0.15
0.60
Rs/Unit
[Typetext]
Page52
Annexure1B
Assumptions: Wind Energy Projects
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
2
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
22%
0.00%
25
Rs Lacs/MW
575.00
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
402.50
172.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
402.50
0
12
12.30%
Rs Lacs
% p.a
Year
% p.a
172.50
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.445%
20%
Yes
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
Power plant (FY12-13)
Total O & M Expenses Escalation
Months
Months
%
Rs Lacs/MW
%
1
15%
2
12.80%
9.00
5.72%
[Typetext]
Page53
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Unit
MW
MU
Year--->
1
1
1.92
2
1
1.92
3
1
1.92
4
1
1.92
5
1
1.92
6
1
1.92
7
1
1.92
8
1
1.92
9
1
1.92
10
1
1.92
11
1
1.92
12
1
1.92
13
1
1.92
14
1
1.92
15
1
1.92
16
1
1.92
17
1
1.92
18
1
1.92
19
1
1.92
20
1
1.92
21
1
1.92
22
1
1.92
23
1
1.92
24
1
1.92
25
1
1.92
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
9.00
33.54
47.44
2.99
34.50
127.47
2
9.51
33.54
43.32
2.93
34.50
123.80
3
10.06
33.54
39.19
2.86
34.50
120.16
4
10.63
33.54
35.07
2.80
34.50
116.55
5
11.24
33.54
30.94
2.75
34.50
112.97
6
11.89
33.54
26.82
2.69
34.50
109.43
7
12.57
33.54
22.69
2.64
34.50
105.93
8
13.28
33.54
18.57
2.58
34.50
102.47
9
14.04
33.54
14.44
2.53
34.50
99.06
10
14.85
33.54
10.31
2.48
34.50
95.69
11
15.70
33.54
6.19
2.59
41.40
99.42
12
16.59
33.54
2.06
2.55
41.40
96.15
13
17.54
8.85
0.00
2.01
41.40
69.80
14
18.55
8.85
6.19
2.20
41.40
77.18
15
19.61
8.85
2.06
2.17
41.40
74.08
16
20.73
8.85
0.00
2.18
41.40
73.16
17
21.92
8.85
0.00
2.24
41.40
74.40
18
23.17
8.85
0.00
2.31
41.40
75.72
19
24.49
8.85
0.00
2.38
41.40
77.12
20
25.90
8.85
0.00
2.45
41.40
78.59
21
27.38
8.85
0.00
2.53
41.40
80.15
22
28.94
8.85
0.00
2.61
41.40
81.80
23
30.60
8.85
0.00
2.70
41.40
83.54
24
32.35
8.85
0.00
2.79
41.40
85.38
25
34.20
8.85
0.00
2.88
41.40
87.33
1
0.47
1.74
2.47
0.16
1.79
6.63
2
0.49
1.74
2.25
0.15
1.79
6.44
3
0.52
1.74
2.04
0.15
1.79
6.25
4
0.55
1.74
1.82
0.15
1.79
6.06
5
0.58
1.74
1.61
0.14
1.79
5.88
6
0.62
1.74
1.39
0.14
1.79
5.69
7
0.65
1.74
1.18
0.14
1.79
5.51
8
0.69
1.74
0.97
0.13
1.79
5.33
9
0.73
1.74
0.75
0.13
1.79
5.15
10
0.77
1.74
0.54
0.13
1.79
4.98
11
0.82
1.74
0.32
0.13
2.15
5.17
12
0.86
1.74
0.11
0.13
2.15
5.00
13
0.91
0.46
0.00
0.10
2.15
3.63
14
0.96
0.46
0.32
0.11
2.15
4.01
15
1.02
0.46
0.11
0.11
2.15
3.85
16
1.08
0.46
0.00
0.11
2.15
3.81
17
1.14
0.46
0.00
0.12
2.15
3.87
18
1.21
0.46
0.00
0.12
2.15
3.94
19
1.27
0.46
0.00
0.12
2.15
4.01
20
1.35
0.46
0.00
0.13
2.15
4.09
21
1.42
0.46
0.00
0.13
2.15
4.17
22
1.51
0.46
0.00
0.14
2.15
4.26
23
1.59
0.46
0.00
0.14
2.15
4.35
24
1.68
0.46
0.00
0.15
2.15
4.44
25
1.78
0.46
0.00
0.15
2.15
4.54
0.904
5.42
[Typetext]
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
Rs/Unit
Page54
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
90%
5.28%
80%
20.0000%
32.4450%
575.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.18
2
5.28%
30.36
3
5.28%
30.36
4
5.28%
30.36
5
5.28%
30.36
6
5.28%
30.36
7
5.28%
30.36
8
5.28%
30.36
9
5.28%
30.36
10
5.28%
30.36
11
5.28%
30.36
12
5.28%
30.36
13
5.28%
30.36
14
5.28%
30.36
15
5.28%
30.36
16
5.28%
30.36
17
5.28%
30.36
18
2.88%
16.56
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
230.00
60%
48.00%
12%
276.00
12%
9.60%
2.40%
55.20
2%
1.92%
0.48%
11.04
0%
0.38%
0.10%
2.21
0%
0.08%
0.02%
0.44
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
214.82
69.70
0.96
1.00
245.64
79.70
1.93
0.95
0.95
24.84
8.06
1.93
0.86
0.86
-19.32
-6.27
1.93
0.78
0.78
-28.15
-9.13
1.93
0.70
0.70
-29.92
-9.71
1.93
0.64
0.64
-30.27
-9.82
1.93
0.57
0.57
-30.34
-9.84
1.93
0.52
0.52
-30.36
-9.85
1.93
0.47
0.47
-30.36
-9.85
1.93
0.42
0.42
-30.36
-9.85
1.93
0.38
0.38
-30.36
-9.85
1.93
0.35
0.35
-30.36
-9.85
1.93
0.31
0.31
-30.36
-9.85
1.93
0.28
0.28
-30.36
-9.85
1.93
0.26
0.26
-30.36
-9.85
1.93
0.23
0.23
-30.36
-9.85
1.93
0.21
0.21
-16.56
-5.37
1.93
0.19
0.19
0.00
0.00
1.93
0.17
0.17
0.00
0.00
1.93
0.15
0.15
[Typetext]
0.55
Rs/Unit
Page55
Annexure
1C
[Typetext]
Page56
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
3
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
25%
0.00%
25
Rs Lacs/MW
575.00
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
402.50
172.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
402.50
0
12
12.30%
Rs Lacs
% p.a
Year
% p.a
172.50
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.445%
20%
Yes
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
Power plant (FY12-13)
Total O & M Expenses Escalation
Months
Months
%
Rs Lacs/MW
%
1
15%
2
12.80%
9.00
5.72%
[Typetext]
Page57
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Year--->
1
1
2.18
2
1
2.18
3
1
2.18
4
1
2.18
5
1
2.18
6
1
2.18
7
1
2.18
8
1
2.18
9
1
2.18
10
1
2.18
11
1
2.18
12
1
2.18
13
1
2.18
14
1
2.18
15
1
2.18
16
1
2.18
17
1
2.18
18
1
2.18
19
1
2.18
20
1
2.18
21
1
2.18
22
1
2.18
23
1
2.18
24
1
2.18
25
1
2.18
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
9.00
33.54
47.44
2.99
34.50
127.47
2
9.51
33.54
43.32
2.93
34.50
123.80
3
10.06
33.54
39.19
2.86
34.50
120.16
4
10.63
33.54
35.07
2.80
34.50
116.55
5
11.24
33.54
30.94
2.75
34.50
112.97
6
11.89
33.54
26.82
2.69
34.50
109.43
7
12.57
33.54
22.69
2.64
34.50
105.93
8
13.28
33.54
18.57
2.58
34.50
102.47
9
14.04
33.54
14.44
2.53
34.50
99.06
10
14.85
33.54
10.31
2.48
34.50
95.69
11
15.70
33.54
6.19
2.59
41.40
99.42
12
16.59
33.54
2.06
2.55
41.40
96.15
13
17.54
8.85
0.00
2.01
41.40
69.80
14
18.55
8.85
6.19
2.20
41.40
77.18
15
19.61
8.85
2.06
2.17
41.40
74.08
16
20.73
8.85
0.00
2.18
41.40
73.16
17
21.92
8.85
0.00
2.24
41.40
74.40
18
23.17
8.85
0.00
2.31
41.40
75.72
19
24.49
8.85
0.00
2.38
41.40
77.12
20
25.90
8.85
0.00
2.45
41.40
78.59
21
27.38
8.85
0.00
2.53
41.40
80.15
22
28.94
8.85
0.00
2.61
41.40
81.80
23
30.60
8.85
0.00
2.70
41.40
83.54
24
32.35
8.85
0.00
2.79
41.40
85.38
25
34.20
8.85
0.00
2.88
41.40
87.33
1
0.41
1.54
2.17
0.14
1.58
5.84
2
0.44
1.54
1.98
0.13
1.58
5.67
3
0.46
1.54
1.79
0.13
1.58
5.50
4
0.49
1.54
1.61
0.13
1.58
5.34
5
0.51
1.54
1.42
0.13
1.58
5.17
6
0.54
1.54
1.23
0.12
1.58
5.01
7
0.58
1.54
1.04
0.12
1.58
4.85
8
0.61
1.54
0.85
0.12
1.58
4.69
9
0.64
1.54
0.66
0.12
1.58
4.53
10
0.68
1.54
0.47
0.11
1.58
4.38
11
0.72
1.54
0.28
0.12
1.90
4.55
12
0.76
1.54
0.09
0.12
1.90
4.40
13
0.80
0.40
0.00
0.09
1.90
3.20
14
0.85
0.40
0.28
0.10
1.90
3.53
15
0.90
0.40
0.09
0.10
1.90
3.39
16
0.95
0.40
0.00
0.10
1.90
3.35
17
1.00
0.40
0.00
0.10
1.90
3.41
18
1.06
0.40
0.00
0.11
1.90
3.47
19
1.12
0.40
0.00
0.11
1.90
3.53
20
1.19
0.40
0.00
0.11
1.90
3.60
21
1.25
0.40
0.00
0.12
1.90
3.67
22
1.32
0.40
0.00
0.12
1.90
3.74
23
1.40
0.40
0.00
0.12
1.90
3.82
24
1.48
0.40
0.00
0.13
1.90
3.91
25
1.57
0.40
0.00
0.13
1.90
4.00
0.904
Unit
MW
MU
4.77
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
[Typetext]
0.199
Rs/Unit
Page58
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.0000%
32.4450%
575.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.18
2
5.28%
30.36
3
5.28%
30.36
4
5.28%
30.36
5
5.28%
30.36
6
5.28%
30.36
7
5.28%
30.36
8
5.28%
30.36
9
5.28%
30.36
10
5.28%
30.36
11
5.28%
30.36
12
5.28%
30.36
13
5.28%
30.36
14
5.28%
30.36
15
5.28%
30.36
16
5.28%
30.36
17
5.28%
30.36
18
2.88%
16.56
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
230.00
60%
48.00%
12%
276.00
12%
9.60%
2.40%
55.20
2%
1.92%
0.48%
11.04
0%
0.38%
0.10%
2.21
0%
0.08%
0.02%
0.44
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
214.82
69.70
1.10
1.00
245.64
79.70
2.19
0.95
0.95
24.84
8.06
2.19
0.86
0.86
-19.32
-6.27
2.19
0.78
0.78
-28.15
-9.13
2.19
0.70
0.70
-29.92
-9.71
2.19
0.64
0.64
-30.27
-9.82
2.19
0.57
0.57
-30.34
-9.84
2.19
0.52
0.52
-30.36
-9.85
2.19
0.47
0.47
-30.36
-9.85
2.19
0.42
0.42
-30.36
-9.85
2.19
0.38
0.38
-30.36
-9.85
2.19
0.35
0.35
-30.36
-9.85
2.19
0.31
0.31
-30.36
-9.85
2.19
0.28
0.28
-30.36
-9.85
2.19
0.26
0.26
-30.36
-9.85
2.19
0.23
0.23
-30.36
-9.85
2.19
0.21
0.21
-16.56
-5.37
2.19
0.19
0.19
0.00
0.00
2.19
0.17
0.17
0.00
0.00
2.19
0.15
0.15
0.48
Rs/Unit
[Typetext]
Page59
[Typetext]
Page60
Annexure1D
Assumptions: Wind Energy Projects
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
4
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
30%
0.00%
25
Rs Lacs/MW
575.00
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
402.50
172.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
402.50
0
12
12.30%
Rs Lacs
% p.a
Year
% p.a
172.50
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.445%
20%
Yes
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
Power plant (FY12-13)
Total O & M Expenses Escalation
Months
Months
%
Rs Lacs/MW
%
1
15%
2
12.80%
9.00
5.72%
[Typetext]
Page61
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Unit
MW
MU
Year--->
1
1
2.62
2
1
2.62
3
1
2.62
4
1
2.62
5
1
2.62
6
1
2.62
7
1
2.62
8
1
2.62
9
1
2.62
10
1
2.62
11
1
2.62
12
1
2.62
13
1
2.62
14
1
2.62
15
1
2.62
16
1
2.62
17
1
2.62
18
1
2.62
19
1
2.62
20
1
2.62
21
1
2.62
22
1
2.62
23
1
2.62
24
1
2.62
25
1
2.62
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
9.00
33.54
47.44
2.99
34.50
127.47
2
9.51
33.54
43.32
2.93
34.50
123.80
3
10.06
33.54
39.19
2.86
34.50
120.16
4
10.63
33.54
35.07
2.80
34.50
116.55
5
11.24
33.54
30.94
2.75
34.50
112.97
6
11.89
33.54
26.82
2.69
34.50
109.43
7
12.57
33.54
22.69
2.64
34.50
105.93
8
13.28
33.54
18.57
2.58
34.50
102.47
9
14.04
33.54
14.44
2.53
34.50
99.06
10
14.85
33.54
10.31
2.48
34.50
95.69
11
15.70
33.54
6.19
2.59
41.40
99.42
12
16.59
33.54
2.06
2.55
41.40
96.15
13
17.54
8.85
0.00
2.01
41.40
69.80
14
18.55
8.85
6.19
2.20
41.40
77.18
15
19.61
8.85
2.06
2.17
41.40
74.08
16
20.73
8.85
0.00
2.18
41.40
73.16
17
21.92
8.85
0.00
2.24
41.40
74.40
18
23.17
8.85
0.00
2.31
41.40
75.72
19
24.49
8.85
0.00
2.38
41.40
77.12
20
25.90
8.85
0.00
2.45
41.40
78.59
21
27.38
8.85
0.00
2.53
41.40
80.15
22
28.94
8.85
0.00
2.61
41.40
81.80
23
30.60
8.85
0.00
2.70
41.40
83.54
24
32.35
8.85
0.00
2.79
41.40
85.38
25
34.20
8.85
0.00
2.88
41.40
87.33
1
0.34
1.28
1.81
0.11
1.32
4.86
2
0.36
1.28
1.65
0.11
1.32
4.72
3
0.38
1.28
1.50
0.11
1.32
4.58
4
0.41
1.28
1.34
0.11
1.32
4.45
5
0.43
1.28
1.18
0.10
1.32
4.31
6
0.45
1.28
1.02
0.10
1.32
4.17
7
0.48
1.28
0.87
0.10
1.32
4.04
8
0.51
1.28
0.71
0.10
1.32
3.91
9
0.54
1.28
0.55
0.10
1.32
3.78
10
0.57
1.28
0.39
0.09
1.32
3.65
11
0.60
1.28
0.24
0.10
1.58
3.79
12
0.63
1.28
0.08
0.10
1.58
3.67
13
0.67
0.34
0.00
0.08
1.58
2.66
14
0.71
0.34
0.24
0.08
1.58
2.94
15
0.75
0.34
0.08
0.08
1.58
2.83
16
0.79
0.34
0.00
0.08
1.58
2.79
17
0.84
0.34
0.00
0.09
1.58
2.84
18
0.88
0.34
0.00
0.09
1.58
2.89
19
0.93
0.34
0.00
0.09
1.58
2.94
20
0.99
0.34
0.00
0.09
1.58
3.00
21
1.04
0.34
0.00
0.10
1.58
3.06
22
1.10
0.34
0.00
0.10
1.58
3.12
23
1.17
0.34
0.00
0.10
1.58
3.19
24
1.23
0.34
0.00
0.11
1.58
3.26
25
1.30
0.34
0.00
0.11
1.58
3.33
0.904
3.97
[Typetext]
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Rs/Unit
Page62
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.0000%
32.4450%
575.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.18
2
5.28%
30.36
3
5.28%
30.36
4
5.28%
30.36
5
5.28%
30.36
6
5.28%
30.36
7
5.28%
30.36
8
5.28%
30.36
9
5.28%
30.36
10
5.28%
30.36
11
5.28%
30.36
12
5.28%
30.36
13
5.28%
30.36
14
5.28%
30.36
15
5.28%
30.36
16
5.28%
30.36
17
5.28%
30.36
18
2.88%
16.56
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
230.00
60%
48.00%
12%
276.00
12%
9.60%
2.40%
55.20
2%
1.92%
0.48%
11.04
0%
0.38%
0.10%
2.21
0%
0.08%
0.02%
0.44
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
214.82
69.70
1.31
1.00
245.64
79.70
2.63
0.95
0.95
24.84
8.06
2.63
0.86
0.86
-19.32
-6.27
2.63
0.78
0.78
-28.15
-9.13
2.63
0.70
0.70
-29.92
-9.71
2.63
0.64
0.64
-30.27
-9.82
2.63
0.57
0.57
-30.34
-9.84
2.63
0.52
0.52
-30.36
-9.85
2.63
0.47
0.47
-30.36
-9.85
2.63
0.42
0.42
-30.36
-9.85
2.63
0.38
0.38
-30.36
-9.85
2.63
0.35
0.35
-30.36
-9.85
2.63
0.31
0.31
-30.36
-9.85
2.63
0.28
0.28
-30.36
-9.85
2.63
0.26
0.26
-30.36
-9.85
2.63
0.23
0.23
-30.36
-9.85
2.63
0.21
0.21
-16.56
-5.37
2.63
0.19
0.19
0.00
0.00
2.63
0.17
0.17
0.00
0.00
2.63
0.15
0.15
[Typetext]
0.40
Rs/Unit
Page63
[Typetext]
Page64
Annexure1E
Assumptions: Wind Energy Projects
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
5
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
32%
0.00%
25
Rs Lacs/MW
575.00
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
402.50
172.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
402.50
0
12
12.30%
Rs Lacs
% p.a
Year
% p.a
172.50
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.445%
20%
Yes
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
Power plant (FY12-13)
Total O & M Expenses Escalation
Months
Months
%
Rs Lacs/MW
%
1
15%
2
12.80%
9.00
5.72%
[Typetext]
Page65
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Unit
MW
MU
Year--->
1
1
2.80
2
1
2.80
3
1
2.80
4
1
2.80
5
1
2.80
6
1
2.80
7
1
2.80
8
1
2.80
9
1
2.80
10
1
2.80
11
1
2.80
12
1
2.80
13
1
2.80
14
1
2.80
15
1
2.80
16
1
2.80
17
1
2.80
18
1
2.80
19
1
2.80
20
1
2.80
21
1
2.80
22
1
2.80
23
1
2.80
24
1
2.80
25
1
2.80
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
9.00
33.54
47.44
2.99
34.50
127.47
2
9.51
33.54
43.32
2.93
34.50
123.80
3
10.06
33.54
39.19
2.86
34.50
120.16
4
10.63
33.54
35.07
2.80
34.50
116.55
5
11.24
33.54
30.94
2.75
34.50
112.97
6
11.89
33.54
26.82
2.69
34.50
109.43
7
12.57
33.54
22.69
2.64
34.50
105.93
8
13.28
33.54
18.57
2.58
34.50
102.47
9
14.04
33.54
14.44
2.53
34.50
99.06
10
14.85
33.54
10.31
2.48
34.50
95.69
11
15.70
33.54
6.19
2.59
41.40
99.42
12
16.59
33.54
2.06
2.55
41.40
96.15
13
17.54
8.85
0.00
2.01
41.40
69.80
14
18.55
8.85
6.19
2.20
41.40
77.18
15
19.61
8.85
2.06
2.17
41.40
74.08
16
20.73
8.85
0.00
2.18
41.40
73.16
17
21.92
8.85
0.00
2.24
41.40
74.40
18
23.17
8.85
0.00
2.31
41.40
75.72
19
24.49
8.85
0.00
2.38
41.40
77.12
20
25.90
8.85
0.00
2.45
41.40
78.59
21
27.38
8.85
0.00
2.53
41.40
80.15
22
28.94
8.85
0.00
2.61
41.40
81.80
23
30.60
8.85
0.00
2.70
41.40
83.54
24
32.35
8.85
0.00
2.79
41.40
85.38
25
34.20
8.85
0.00
2.88
41.40
87.33
1
0.32
1.20
1.70
0.11
1.23
4.56
2
0.34
1.20
1.55
0.10
1.23
4.43
3
0.36
1.20
1.40
0.10
1.23
4.30
4
0.38
1.20
1.25
0.10
1.23
4.17
5
0.40
1.20
1.11
0.10
1.23
4.04
6
0.43
1.20
0.96
0.10
1.23
3.91
7
0.45
1.20
0.81
0.09
1.23
3.79
8
0.48
1.20
0.66
0.09
1.23
3.66
9
0.50
1.20
0.52
0.09
1.23
3.54
10
0.53
1.20
0.37
0.09
1.23
3.42
11
0.56
1.20
0.22
0.09
1.48
3.56
12
0.59
1.20
0.07
0.09
1.48
3.44
13
0.63
0.32
0.00
0.07
1.48
2.50
14
0.66
0.32
0.22
0.08
1.48
2.76
15
0.70
0.32
0.07
0.08
1.48
2.65
16
0.74
0.32
0.00
0.08
1.48
2.62
17
0.78
0.32
0.00
0.08
1.48
2.66
18
0.83
0.32
0.00
0.08
1.48
2.71
19
0.88
0.32
0.00
0.08
1.48
2.76
20
0.93
0.32
0.00
0.09
1.48
2.81
21
0.98
0.32
0.00
0.09
1.48
2.87
22
1.04
0.32
0.00
0.09
1.48
2.93
23
1.09
0.32
0.00
0.10
1.48
2.99
24
1.16
0.32
0.00
0.10
1.48
3.05
25
1.22
0.32
0.00
0.10
1.48
3.12
0.904
3.73
[Typetext]
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
Rs/Unit
Page66
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.0000%
32.4450%
575.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.18
2
5.28%
30.36
3
5.28%
30.36
4
5.28%
30.36
5
5.28%
30.36
6
5.28%
30.36
7
5.28%
30.36
8
5.28%
30.36
9
5.28%
30.36
10
5.28%
30.36
11
5.28%
30.36
12
5.28%
30.36
13
5.28%
30.36
14
5.28%
30.36
15
5.28%
30.36
16
5.28%
30.36
17
5.28%
30.36
18
2.88%
16.56
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
230.00
60%
48.00%
12%
276.00
12%
9.60%
2.40%
55.20
2%
1.92%
0.48%
11.04
0%
0.38%
0.10%
2.21
0%
0.08%
0.02%
0.44
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
214.82
69.70
1.40
1.00
245.64
79.70
2.80
0.95
0.95
24.84
8.06
2.80
0.86
0.86
-19.32
-6.27
2.80
0.78
0.78
-28.15
-9.13
2.80
0.70
0.70
-29.92
-9.71
2.80
0.64
0.64
-30.27
-9.82
2.80
0.57
0.57
-30.34
-9.84
2.80
0.52
0.52
-30.36
-9.85
2.80
0.47
0.47
-30.36
-9.85
2.80
0.42
0.42
-30.36
-9.85
2.80
0.38
0.38
-30.36
-9.85
2.80
0.35
0.35
-30.36
-9.85
2.80
0.31
0.31
-30.36
-9.85
2.80
0.28
0.28
-30.36
-9.85
2.80
0.26
0.26
-30.36
-9.85
2.80
0.23
0.23
-30.36
-9.85
2.80
0.21
0.21
-16.56
-5.37
2.80
0.19
0.19
0.00
0.00
2.80
0.17
0.17
0.00
0.00
2.80
0.15
0.15
[Typetext]
0.38
Rs/Unit
Page67
[Typetext]
Page68
Annexure2A
Select Case
Assumption Head
Sub-Head
Sub-Head (2)
Unit
HP,
Uttarakhand,
NE States
Less than 5
MW
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW
MW
%
1
45%
1%
0.00%
35
770
35
%
Years
Rs Lacs/MW
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
539
231
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
539.00
0
12
12.30%
Equity amount
Normative ROE (Post-tax)
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
231.00
16%
20%
10
24.00%
22.86%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.45%
20.00%
Yes
%
%
Debt: Equity
Debt Component
Equity Component
Financial Assumptions
Depreciation
Working Capital
5.83%
0.87%
12
Months
12.80%
25.00
5.72%
Months
1
15%
2
[Typetext]
Page69
[Typetext]
Page70
1
1
3.90
2
1
3.90
3
1
3.90
4
1
3.90
5
1
3.90
6
1
3.90
7
1
3.90
8
1
3.90
9
1
3.90
10
1
3.90
11
1
3.90
12
1
3.90
13
1
3.90
14
1
3.90
15
1
3.90
16
1
3.90
17
1
3.90
18
1
3.90
19
1
3.90
20
1
3.90
21
1
3.90
22
1
3.90
23
1
3.90
24
1
3.90
25
1
3.90
26
1
3.90
27
1
3.90
28
1
3.90
29
1
3.90
30
1
3.90
31
1
3.90
32
1
3.90
33
1
3.90
34
1
3.90
35
1
3.90
Fixed Cost
Unit
Year--->
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
O&M Expenses
Rs Lakh
25.00 26.43 27.94 29.54 31.23 33.02 34.90 36.90 39.01 41.24 43.60 46.10 48.73 51.52 54.47 57.58 60.88 64.36 68.04 71.93 76.05 80.40 85.00 89.86 95.00 100.43 106.18 112.25 118.67 125.46 132.63 140.22 148.24 156.72 165.69
Depreciation
Rs Lakh
44.92 44.92 44.92 44.92 44.92 44.92 44.92 44.92 44.92 44.92 44.92 44.92
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
6.70
Interest on term loan
Rs Lakh
63.53 58.01 52.49 46.96 41.44 35.91 30.39 24.86 19.34 13.81
8.29
2.76
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Interest on working Cap Rs Lakh
4.68
4.63
4.59
4.56
4.52
4.50
4.47
4.46
4.45
4.44
4.65
4.66
3.90
4.05
4.20
4.37
4.54
4.72
4.91
5.12
5.33
5.56
5.80
6.06
6.32
6.61
6.91
7.23
7.56
7.92
8.29
8.69
9.11
9.55
10.02
Return on Equity
Rs Lakh
46.20 46.20 46.20 46.20 46.20 46.20 46.20 46.20 46.20 46.20 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44 55.44
Total Fixed Cost
Rs Lakh
184.33 180.19 176.14 172.17 168.31 164.54 160.88 157.34 153.91 150.62 156.90 153.88 114.77 117.71 120.81 124.09 127.55 131.22 135.09 139.19 143.52 148.09 152.93 158.05 163.46 169.18 175.22 181.61 188.37 195.51 203.06 211.05 219.49 228.41 237.84
Levallised tariff corresponding to Useful life
Per Unit Cost of Gene Unit Levellise 1
0.64
1.14
O&M expn
Rs/kWh
1.15
0.88
Depreciation
Rs/kWh
1.63
0.73
Int. on term loan
Rs/kWh
0.12
0.12
Int. on working capital Rs/kWh
1.18
1.27
RoE
Rs/kWh
Total COG
Rs/kWh
4.14
4.72
Levellised
Discount Factor
1
Levellised Tariff
4.14
Rs/Unit
2
0.68
1.15
1.49
0.12
1.18
4.62
3
0.72
1.15
1.34
0.12
1.18
4.51
4
0.76
1.15
1.20
0.12
1.18
4.41
5
0.80
1.15
1.06
0.12
1.18
4.31
6
0.85
1.15
0.92
0.12
1.18
4.22
7
0.89
1.15
0.78
0.11
1.18
4.12
8
0.95
1.15
0.64
0.11
1.18
4.03
9
1.00
1.15
0.50
0.11
1.18
3.94
10
1.06
1.15
0.35
0.11
1.18
3.86
11
1.12
1.15
0.21
0.12
1.42
4.02
12
1.18
1.15
0.07
0.12
1.42
3.94
13
1.25
0.17
0.00
0.10
1.42
2.94
14
1.32
0.17
0.00
0.10
1.42
3.02
15
1.40
0.17
0.00
0.11
1.42
3.10
16
1.48
0.17
0.00
0.11
1.42
3.18
17
1.56
0.17
0.00
0.12
1.42
3.27
18
1.65
0.17
0.00
0.12
1.42
3.36
19
1.74
0.17
0.00
0.13
1.42
3.46
20
1.84
0.17
0.00
0.13
1.42
3.57
21
1.95
0.17
0.00
0.14
1.42
3.68
22
2.06
0.17
0.00
0.14
1.42
3.79
23
2.18
0.17
0.00
0.15
1.42
3.92
24
2.30
0.17
0.00
0.16
1.42
4.05
25
2.43
0.17
0.00
0.16
1.42
4.19
26
2.57
0.17
0.00
0.17
1.42
4.33
27
2.72
0.17
0.00
0.18
1.42
4.49
28
2.88
0.17
0.00
0.19
1.42
4.65
29
3.04
0.17
0.00
0.19
1.42
4.83
30
3.21
0.17
0.00
0.20
1.42
5.01
31
3.40
0.17
0.00
0.21
1.42
5.20
32
3.59
0.17
0.00
0.22
1.42
5.41
33
3.80
0.17
0.00
0.23
1.42
5.62
34
4.02
0.17
0.00
0.24
1.42
5.85
35
4.25
0.17
0.00
0.26
1.42
6.09
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
0.080
0.073
0.066
0.059
0.054
0.048
0.044
0.040
0.036
0.032
[Typetext]
Page71
Determination of Accelerated Depreciation
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20%
32.45%
770.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
20.33
2
5.28%
40.66
3
5.28%
40.66
4
5.28%
40.66
5
5.28%
40.66
6
5.28%
40.66
7
5.28%
40.66
8
5.28%
40.66
9
5.28%
40.66
10
5.28%
40.66
11
5.28%
40.66
12
5.28%
40.66
13
5.28%
40.66
14
5.28%
40.66
15
5.28%
40.66
16
5.28%
40.66
17
5.28%
40.66
18
2.88%
22.18
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
26
0.00%
0.00
27
0.00%
0.00
28
0.00%
0.00
29
0.00%
0.00
30
0.00%
0.00
31
0.00%
0.00
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
308.00
60%
48.00%
12%
369.60
12%
9.60%
2.40%
73.92
2%
1.92%
0.48%
14.78
0%
0.38%
0.10%
2.96
0%
0.08%
0.02%
0.59
0%
0.02%
0.00%
0.12
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
287.67
93.34
1.95
4.78
1.00
328.94
106.73
3.90
2.73
0.95
33.26
10.79
3.90
0.28
0.86
-25.87
-8.39
3.90
-0.22
0.78
-37.70
-12.23
3.90
-0.31
0.70
-40.06
-13.00
3.90
-0.33
0.64
-40.54
-13.15
3.90
-0.34
0.57
-40.63
-13.18
3.90
-0.34
0.52
-40.65
-13.19
3.90
-0.34
0.47
-40.66
-13.19
3.90
-0.34
0.42
-40.66
-13.19
3.90
-0.34
0.38
-40.66
-13.19
3.90
-0.34
0.35
-40.66
-13.19
3.90
-0.34
0.31
-40.66
-13.19
3.90
-0.34
0.28
-40.66
-13.19
3.90
-0.34
0.26
-40.66
-13.19
3.90
-0.34
0.23
-40.66
-13.19
3.90
-0.34
0.21
-22.18
-7.20
3.90
-0.18
0.19
0.00
0.00
3.90
0.00
0.17
0.00
0.00
3.90
0.00
0.15
0.00
0.00
3.90
0.00
0.14
0.00
0.00
3.90
0.00
0.13
0.00
0.00
3.90
0.00
0.11
0.00
0.00
3.90
0.00
0.10
0.00
0.00
3.90
0.00
0.09
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.03
11.95
3.72
0.32 Rs/Unit
[Typetext]
Page72
[Typetext]
Page73
Annexure2B
Select Case
Assumption Head
Sub-Head
Sub-Head (2)
Unit
HP,
Uttarakhand,
NE States
5 MW to 25
MW
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW
MW
%
1
45%
1%
0.00%
35
700
13
%
Years
Rs Lacs/MW
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
490
210
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
490.00
0
12
12.30%
Equity amount
Normative ROE (Post-tax)
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
210.00
16%
20%
10
24.00%
22.86%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.45%
20.00%
Yes
%
%
Debt: Equity
Debt Component
Equity Component
Financial Assumptions
Depreciation
Working Capital
5.83%
0.87%
12
Months
12.80%
18.00
5.72%
Months
1
15%
2
[Typetext]
Page74
1
1
3.90
2
1
3.90
3
1
3.90
4
1
3.90
5
1
3.90
6
1
3.90
7
1
3.90
8
1
3.90
9
1
3.90
10
1
3.90
11
1
3.90
12
1
3.90
Fixed Cost
Unit Year--->
1
2
3
4
5
6
7
8
9
10
11
12
O&M Expenses
Rs Lakh
18.00 19.03 20.12 21.27 22.49 23.77 25.13 26.57 28.09 29.70 31.39 33.19
Depreciation
Rs Lakh
40.83 40.83 40.83 40.83 40.83 40.83 40.83 40.83 40.83 40.83 40.83 40.83
Interest on term loan
Rs Lakh
57.76 52.74 47.71 42.69 37.67 32.65 27.62 22.60 17.58 12.56 7.53
2.51
Interest on working Cap Rs Lakh
4.01
3.95
3.90
3.85
3.80
3.76
3.72
3.69
3.66
3.63
3.80
3.78
Return on Equity
Rs Lakh
42.00 42.00 42.00 42.00 42.00 42.00 42.00 42.00 42.00 42.00 50.40 50.40
Total Fixed Cost
Rs Lakh
162.60 158.55 154.56 150.64 146.79 143.01 139.31 135.69 132.16 128.72 133.96 130.71
Levallised tariff corresponding to Useful life
Per Unit Cost of Gene Unit Levellise 1
0.46
0.82
O&M expn
Rs/kWh
1.05
0.80
Depreciation
Rs/kWh
1.48
0.67
Int. on term loan
Rs/kWh
0.10
0.10
Int. on working capital Rs/kWh
1.08
1.15
RoE
Rs/kWh
Total COG
Rs/kWh 3.54
4.17
Levellised
Discount Factor
1
Levellised Tariff
3.54 Rs/Unit
[Typetext]
13
1
3.90
14
1
3.90
15
1
3.90
16
1
3.90
17
1
3.90
18
1
3.90
19
1
3.90
20
1
3.90
21
1
3.90
22
1
3.90
23
1
3.90
24
1
3.90
25
1
3.90
26
1
3.90
27
1
3.90
28
1
3.90
29
1
3.90
30
1
3.90
31
1
3.90
32
1
3.90
33
1
3.90
34
1
3.90
35
1
3.90
13
35.09
6.09
0.00
3.07
50.40
94.64
14
37.10
6.09
0.00
3.17
50.40
96.75
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
39.22 41.46 43.83 46.34 48.99 51.79 54.75 57.89 61.20 64.70 68.40 72.31 76.45 80.82 85.44 90.33 95.50 100.96 106.73 112.84 119.29
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
6.09
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.28
3.40
3.52
3.66
3.79
3.94
4.10
4.26
4.43
4.62
4.81
5.01
5.23
5.46
5.70
5.96
6.23
6.51
6.82
7.13
7.47
50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40 50.40
98.99 101.35 103.84 106.48 109.27 112.22 115.34 118.63 122.12 125.80 129.69 133.81 138.16 142.77 147.63 152.77 158.21 163.96 170.04 176.46 183.25
2
0.49
1.05
1.35
0.10
1.08
4.06
3
0.52
1.05
1.22
0.10
1.08
3.96
4
0.54
1.05
1.09
0.10
1.08
3.86
5
0.58
1.05
0.97
0.10
1.08
3.76
6
0.61
1.05
0.84
0.10
1.08
3.66
7
0.64
1.05
0.71
0.10
1.08
3.57
8
0.68
1.05
0.58
0.09
1.08
3.48
9
0.72
1.05
0.45
0.09
1.08
3.39
10
0.76
1.05
0.32
0.09
1.08
3.30
11
0.80
1.05
0.19
0.10
1.29
3.43
12
0.85
1.05
0.06
0.10
1.29
3.35
13
0.90
0.16
0.00
0.08
1.29
2.43
14
0.95
0.16
0.00
0.08
1.29
2.48
15
1.00
0.16
0.00
0.08
1.29
2.54
16
1.06
0.16
0.00
0.09
1.29
2.60
17
1.12
0.16
0.00
0.09
1.29
2.66
18
1.19
0.16
0.00
0.09
1.29
2.73
19
1.26
0.16
0.00
0.10
1.29
2.80
20
1.33
0.16
0.00
0.10
1.29
2.88
21
1.40
0.16
0.00
0.10
1.29
2.96
22
1.48
0.16
0.00
0.11
1.29
3.04
23
1.57
0.16
0.00
0.11
1.29
3.13
24
1.66
0.16
0.00
0.12
1.29
3.22
25
1.75
0.16
0.00
0.12
1.29
3.32
26
1.85
0.16
0.00
0.13
1.29
3.43
27
1.96
0.16
0.00
0.13
1.29
3.54
28
2.07
0.16
0.00
0.14
1.29
3.66
29
2.19
0.16
0.00
0.15
1.29
3.78
30
2.31
0.16
0.00
0.15
1.29
3.91
31
2.45
0.16
0.00
0.16
1.29
4.05
32
2.59
0.16
0.00
0.17
1.29
4.20
33
2.73
0.16
0.00
0.17
1.29
4.36
34
2.89
0.16
0.00
0.18
1.29
4.52
35
3.06
0.16
0.00
0.19
1.29
4.70
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
0.080
0.073
0.066
0.059
0.054
0.048
0.044
0.040
0.036
0.032
Page75
Determination of Accelerated Depreciation
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20%
32.45%
700.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
18.48
2
5.28%
36.96
3
5.28%
36.96
4
5.28%
36.96
5
5.28%
36.96
6
5.28%
36.96
7
5.28%
36.96
8
5.28%
36.96
9
5.28%
36.96
10
5.28%
36.96
11
5.28%
36.96
12
5.28%
36.96
13
5.28%
36.96
14
5.28%
36.96
15
5.28%
36.96
16
5.28%
36.96
17
5.28%
36.96
18
2.88%
20.16
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
26
0.00%
0.00
27
0.00%
0.00
28
0.00%
0.00
29
0.00%
0.00
30
0.00%
0.00
31
0.00%
0.00
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
280.00
60%
48.00%
12%
336.00
12%
9.60%
2.40%
67.20
2%
1.92%
0.48%
13.44
0%
0.38%
0.10%
2.69
0%
0.08%
0.02%
0.54
0%
0.02%
0.00%
0.11
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
261.52
84.85
1.95
4.35
1.00
299.04
97.02
3.90
2.49
0.95
30.24
9.81
3.90
0.25
0.86
-23.52
-7.63
3.90
-0.20
0.78
-34.27
-11.12
3.90
-0.28
0.70
-36.42
-11.82
3.90
-0.30
0.64
-36.85
-11.96
3.90
-0.31
0.57
-36.94
-11.98
3.90
-0.31
0.52
-36.96
-11.99
3.90
-0.31
0.47
-36.96
-11.99
3.90
-0.31
0.42
-36.96
-11.99
3.90
-0.31
0.38
-36.96
-11.99
3.90
-0.31
0.35
-36.96
-11.99
3.90
-0.31
0.31
-36.96
-11.99
3.90
-0.31
0.28
-36.96
-11.99
3.90
-0.31
0.26
-36.96
-11.99
3.90
-0.31
0.23
-36.96
-11.99
3.90
-0.31
0.21
-20.16
-6.54
3.90
-0.17
0.19
0.00
0.00
3.90
0.00
0.17
0.00
0.00
3.90
0.00
0.15
0.00
0.00
3.90
0.00
0.14
0.00
0.00
3.90
0.00
0.13
0.00
0.00
3.90
0.00
0.11
0.00
0.00
3.90
0.00
0.10
0.00
0.00
3.90
0.00
0.09
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.03
10.86
3.72
0.29
Rs/Unit
[Typetext]
Page76
[Typetext]
Page77
Annexure2C
Select Case
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Other States
Less than 5
MW
1
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW
MW
%
1
30%
1%
0.00%
35
600
35
%
Years
Rs Lacs/MW
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420
180
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
420.00
0
12
12.30%
Equity amount
Normative ROE (Post-tax)
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
180.00
16%
20%
10
24.00%
22.86%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.45%
20.00%
Yes
%
%
Debt: Equity
Debt Component
Equity Component
Financial Assumptions
Depreciation
Working Capital
5.83%
0.87%
12
Months
12.80%
20.00
5.72%
Months
1
15%
2
[Typetext]
Page78
[Typetext]
Page79
1
1
2.60
2
1
2.60
3
1
2.60
4
1
2.60
5
1
2.60
6
1
2.60
7
1
2.60
8
1
2.60
9
1
2.60
10
1
2.60
11
1
2.60
12
1
2.60
Fixed Cost
Unit Year--->
1
2
3
4
5
6
7
8
9
10
11
12
O&M Expenses
Rs Lakh
20.00 21.14 22.35 23.63 24.98 26.41 27.92 29.52 31.21 32.99 34.88 36.88
Depreciation
Rs Lakh
35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00 35.00
Interest on term loan
Rs Lakh
49.51 45.20 40.90 36.59 32.29 27.98 23.68 19.37 15.07 10.76 6.46
2.15
Interest on working Cap Rs Lakh
3.67
3.64
3.61
3.58
3.56
3.54
3.52
3.51
3.51
3.51
3.67
3.68
Return on Equity
Rs Lakh
36.00 36.00 36.00 36.00 36.00 36.00 36.00 36.00 36.00 36.00 43.20 43.20
Total Fixed Cost
Rs Lakh
144.18 140.99 137.86 134.81 131.83 128.93 126.13 123.41 120.79 118.27 123.21 120.91
Levallised tariff corresponding to Useful life
Per Unit Cost of Gene Unit Levellise 1
0.77
1.36
O&M expn
Rs/kWh
1.35
1.03
Depreciation
Rs/kWh
1.90
0.86
Int. on term loan
Rs/kWh
0.14
0.14
Int. on working capital Rs/kWh
1.38
1.48
RoE
Rs/kWh
Total COG
Rs/kWh 4.88
5.54
Levellised
Discount Factor
1
Levellised Tariff
4.88 Rs/Unit
[Typetext]
13
1
2.60
14
1
2.60
15
1
2.60
16
1
2.60
17
1
2.60
18
1
2.60
19
1
2.60
20
1
2.60
21
1
2.60
22
1
2.60
23
1
2.60
24
1
2.60
25
1
2.60
26
1
2.60
27
1
2.60
28
1
2.60
29
1
2.60
30
1
2.60
31
1
2.60
32
1
2.60
33
1
2.60
34
1
2.60
35
1
2.60
13
38.99
5.22
0.00
3.10
43.20
90.50
14
41.22
5.22
0.00
3.21
43.20
92.85
15
43.57
5.22
0.00
3.34
43.20
95.33
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
46.07 48.70 51.49 54.43 57.55 60.84 64.32 68.00 71.89 76.00 80.35 84.94 89.80 94.94 100.37 106.11 112.18 118.59 125.38 132.55
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
5.22
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.47
3.60
3.75
3.90
4.07
4.24
4.42
4.61
4.82
5.03
5.26
5.50
5.75
6.02
6.31
6.61
6.92
7.26
7.61
7.99
43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20 43.20
97.95 100.72 103.65 106.75 110.03 113.49 117.16 121.03 125.12 129.45 134.02 138.86 143.97 149.38 155.09 161.13 167.52 174.27 181.41 188.96
2
0.81
1.35
1.74
0.14
1.38
5.42
3
0.86
1.35
1.57
0.14
1.38
5.30
4
0.91
1.35
1.41
0.14
1.38
5.18
5
0.96
1.35
1.24
0.14
1.38
5.07
6
1.02
1.35
1.08
0.14
1.38
4.96
7
1.07
1.35
0.91
0.14
1.38
4.85
8
1.13
1.35
0.74
0.14
1.38
4.74
9
1.20
1.35
0.58
0.13
1.38
4.64
10
1.27
1.35
0.41
0.13
1.38
4.55
11
1.34
1.35
0.25
0.14
1.66
4.74
12
1.42
1.35
0.08
0.14
1.66
4.65
13
1.50
0.20
0.00
0.12
1.66
3.48
14
1.58
0.20
0.00
0.12
1.66
3.57
15
1.67
0.20
0.00
0.13
1.66
3.66
16
1.77
0.20
0.00
0.13
1.66
3.76
17
1.87
0.20
0.00
0.14
1.66
3.87
18
1.98
0.20
0.00
0.14
1.66
3.98
19
2.09
0.20
0.00
0.15
1.66
4.10
20
2.21
0.20
0.00
0.16
1.66
4.23
21
2.34
0.20
0.00
0.16
1.66
4.36
22
2.47
0.20
0.00
0.17
1.66
4.50
23
2.61
0.20
0.00
0.18
1.66
4.65
24
2.76
0.20
0.00
0.19
1.66
4.81
25
2.92
0.20
0.00
0.19
1.66
4.98
26
3.09
0.20
0.00
0.20
1.66
5.15
27
3.26
0.20
0.00
0.21
1.66
5.34
28
3.45
0.20
0.00
0.22
1.66
5.53
29
3.65
0.20
0.00
0.23
1.66
5.74
30
3.86
0.20
0.00
0.24
1.66
5.96
31
4.08
0.20
0.00
0.25
1.66
6.19
32
4.31
0.20
0.00
0.27
1.66
6.44
33
4.56
0.20
0.00
0.28
1.66
6.70
34
4.82
0.20
0.00
0.29
1.66
6.97
35
5.09
0.20
0.00
0.31
1.66
7.26
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
0.080
0.073
0.066
0.059
0.054
0.048
0.044
0.040
0.036
0.032
Page80
Determination of Accelerated Depreciation
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20%
32.45%
600.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.84
2
5.28%
31.68
3
5.28%
31.68
4
5.28%
31.68
5
5.28%
31.68
6
5.28%
31.68
7
5.28%
31.68
8
5.28%
31.68
9
5.28%
31.68
10
5.28%
31.68
11
5.28%
31.68
12
5.28%
31.68
13
5.28%
31.68
14
5.28%
31.68
15
5.28%
31.68
16
5.28%
31.68
17
5.28%
31.68
18
2.88%
17.28
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
26
0.00%
0.00
27
0.00%
0.00
28
0.00%
0.00
29
0.00%
0.00
30
0.00%
0.00
31
0.00%
0.00
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
240.00
60%
48.00%
12%
288.00
12%
9.60%
2.40%
57.60
2%
1.92%
0.48%
11.52
0%
0.38%
0.10%
2.30
0%
0.08%
0.02%
0.46
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
224.16
72.73
1.30
5.59
1.00
256.32
83.16
2.60
3.20
0.95
25.92
8.41
2.60
0.32
0.86
-20.16
-6.54
2.60
-0.25
0.78
-29.38
-9.53
2.60
-0.37
0.70
-31.22
-10.13
2.60
-0.39
0.64
-31.59
-10.25
2.60
-0.39
0.57
-31.66
-10.27
2.60
-0.39
0.52
-31.68
-10.28
2.60
-0.40
0.47
-31.68
-10.28
2.60
-0.40
0.42
-31.68
-10.28
2.60
-0.40
0.38
-31.68
-10.28
2.60
-0.40
0.35
-31.68
-10.28
2.60
-0.40
0.31
-31.68
-10.28
2.60
-0.40
0.28
-31.68
-10.28
2.60
-0.40
0.26
-31.68
-10.28
2.60
-0.40
0.23
-31.68
-10.28
2.60
-0.40
0.21
-17.28
-5.61
2.60
-0.22
0.19
0.00
0.00
2.60
0.00
0.17
0.00
0.00
2.60
0.00
0.15
0.00
0.00
2.60
0.00
0.14
0.00
0.00
2.60
0.00
0.13
0.00
0.00
2.60
0.00
0.11
0.00
0.00
2.60
0.00
0.10
0.00
0.00
2.60
0.00
0.09
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.03
9.31
2.48
0.38 Rs/Unit
[Typetext]
Page81
[Typetext]
Page82
Annexure2D
Select Case
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Other States
5 MW to 25
MW
1
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW
MW
%
1
30%
1%
0.00%
35
550
13
%
Years
Rs Lacs/MW
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
385
165
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
385.00
0
12
12.30%
Equity amount
Normative ROE (Post-tax)
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
165.00
16%
20%
10
24.00%
22.86%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
32.45%
20.00%
Yes
%
%
Debt: Equity
Debt Component
Equity Component
Financial Assumptions
Depreciation
Working Capital
5.83%
0.87%
12
Months
12.80%
14.00
5.72%
Months
1
15%
2
[Typetext]
Page83
[Typetext]
Page84
2
1
2.60
3
1
2.60
4
1
2.60
5
1
2.60
6
1
2.60
7
1
2.60
8
1
2.60
9
1
2.60
10
1
2.60
11
1
2.60
3
15.65
32.08
37.49
3.05
33.00
121.27
4
16.54
32.08
33.54
3.02
33.00
118.18
5
17.49
32.08
29.60
2.98
33.00
115.15
6
18.49
32.08
25.65
2.95
33.00
112.17
7
19.55
32.08
21.70
2.91
33.00
109.25
8
20.66
32.08
17.76
2.89
33.00
106.39
9
21.85
32.08
13.81
2.86
33.00
103.60
10
23.10
32.08
9.87
2.84
33.00
100.89
11
24.42
32.08
5.92
2.97
39.60
104.99
2
0.57
1.23
1.59
0.12
1.27
4.78
3
0.60
1.23
1.44
0.12
1.27
4.66
4
0.64
1.23
1.29
0.12
1.27
4.54
5
0.67
1.23
1.14
0.11
1.27
4.43
6
0.71
1.23
0.99
0.11
1.27
4.31
7
0.75
1.23
0.83
0.11
1.27
4.20
8
0.79
1.23
0.68
0.11
1.27
4.09
9
0.84
1.23
0.53
0.11
1.27
3.98
10
0.89
1.23
0.38
0.11
1.27
3.88
11
0.94
1.23
0.23
0.11
1.52
4.04
12
0.99
1.23
0.08
0.11
1.52
3.94
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
0.403
0.365
0.330
Fixed Cost
Unit Year--->
1
2
O&M Expenses
Rs Lakh
14.00 14.80
Depreciation
Rs Lakh
32.08 32.08
Interest on term loan
Rs Lakh
45.38 41.44
3.14
3.10
Interest on working Cap Rs Lakh
Return on Equity
Rs Lakh
33.00 33.00
Total Fixed Cost
Rs Lakh
127.61 124.42
Levallised tariff corresponding to Useful life
Per Unit Cost of Gene Unit Levellise 1
0.54
O&M expn
Rs/kWh 0.96
1.23
Depreciation
Rs/kWh 0.94
1.74
Int. on term loan
Rs/kWh 0.79
0.12
Int. on working capital Rs/kWh 0.12
1.27
RoE
Rs/kWh 1.36
Total COG
Rs/kWh 4.16
4.90
Levellised
Discount Factor
1
Levellised Tariff
4.16 Rs/Unit
[Typetext]
12
1
2.60
13
1
2.60
14
1
2.60
15
1
2.60
16
1
2.60
17
1
2.60
18
1
2.60
19
1
2.60
20
1
2.60
21
1
2.60
22
1
2.60
23
1
2.60
24
1
2.60
25
1
2.60
26
1
2.60
27
1
2.60
28
1
2.60
29
1
2.60
30
1
2.60
31
1
2.60
32
1
2.60
33
1
2.60
34
1
2.60
35
1
2.60
12
13
25.81 27.29
32.08 4.78
1.97
0.00
2.96
2.40
39.60 39.60
102.43 74.07
14
28.85
4.78
0.00
2.48
39.60
75.71
15
30.50
4.78
0.00
2.56
39.60
77.45
16
32.25
4.78
0.00
2.65
39.60
79.28
17
34.09
4.78
0.00
2.75
39.60
81.22
18
36.04
4.78
0.00
2.85
39.60
83.28
19
38.10
4.78
0.00
2.96
39.60
85.45
20
40.28
4.78
0.00
3.07
39.60
87.74
21
42.59
4.78
0.00
3.20
39.60
90.16
22
45.02
4.78
0.00
3.32
39.60
92.73
23
47.60
4.78
0.00
3.46
39.60
95.44
24
25
26
27
28
29
30
31
32
33
34
35
50.32 53.20 56.24 59.46 62.86 66.46 70.26 74.28 78.52 83.02 87.76 92.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
4.78
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
3.60
3.75
3.91
4.08
4.26
4.44
4.64
4.85
5.08
5.31
5.56
5.82
39.60 39.60 39.60 39.60 39.60 39.60 39.60 39.60 39.60 39.60 39.60 39.60
98.30 101.33 104.53 107.92 111.50 115.28 119.28 123.51 127.98 132.71 137.71 142.99
13
1.05
0.18
0.00
0.09
1.52
2.85
14
1.11
0.18
0.00
0.10
1.52
2.91
15
1.17
0.18
0.00
0.10
1.52
2.98
16
1.24
0.18
0.00
0.10
1.52
3.05
17
1.31
0.18
0.00
0.11
1.52
3.12
18
1.39
0.18
0.00
0.11
1.52
3.20
19
1.46
0.18
0.00
0.11
1.52
3.28
20
1.55
0.18
0.00
0.12
1.52
3.37
21
1.64
0.18
0.00
0.12
1.52
3.47
22
1.73
0.18
0.00
0.13
1.52
3.56
23
1.83
0.18
0.00
0.13
1.52
3.67
24
1.93
0.18
0.00
0.14
1.52
3.78
25
2.04
0.18
0.00
0.14
1.52
3.89
26
2.16
0.18
0.00
0.15
1.52
4.02
27
2.29
0.18
0.00
0.16
1.52
4.15
28
2.42
0.18
0.00
0.16
1.52
4.29
29
2.55
0.18
0.00
0.17
1.52
4.43
30
2.70
0.18
0.00
0.18
1.52
4.58
31
2.85
0.18
0.00
0.19
1.52
4.75
32
3.02
0.18
0.00
0.20
1.52
4.92
33
3.19
0.18
0.00
0.20
1.52
5.10
34
3.37
0.18
0.00
0.21
1.52
5.29
35
3.57
0.18
0.00
0.22
1.52
5.50
0.298
0.269
0.244
0.220
0.199
0.180
0.163
0.147
0.133
0.120
0.109
0.098
0.089
0.080
0.073
0.066
0.059
0.054
0.048
0.044
0.040
0.036
0.032
Page85
Determination of Accelerated Depreciation
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20%
32.45%
550.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.52
2
5.28%
29.04
3
5.28%
29.04
4
5.28%
29.04
5
5.28%
29.04
6
5.28%
29.04
7
5.28%
29.04
8
5.28%
29.04
9
5.28%
29.04
10
5.28%
29.04
11
5.28%
29.04
12
5.28%
29.04
13
5.28%
29.04
14
5.28%
29.04
15
5.28%
29.04
16
5.28%
29.04
17
5.28%
29.04
18
2.88%
15.84
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
26
0.00%
0.00
27
0.00%
0.00
28
0.00%
0.00
29
0.00%
0.00
30
0.00%
0.00
31
0.00%
0.00
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
220.00
60%
48.00%
12%
264.00
12%
9.60%
2.40%
52.80
2%
1.92%
0.48%
10.56
0%
0.38%
0.10%
2.11
0%
0.08%
0.02%
0.42
0%
0.02%
0.00%
0.08
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
205.48
66.67
1.30
5.12
1.00
234.96
76.23
2.60
2.93
0.95
23.76
7.71
2.60
0.30
0.86
-18.48
-6.00
2.60
-0.23
0.78
-26.93
-8.74
2.60
-0.34
0.70
-28.62
-9.28
2.60
-0.36
0.64
-28.96
-9.39
2.60
-0.36
0.57
-29.02
-9.42
2.60
-0.36
0.52
-29.04
-9.42
2.60
-0.36
0.47
-29.04
-9.42
2.60
-0.36
0.42
-29.04
-9.42
2.60
-0.36
0.38
-29.04
-9.42
2.60
-0.36
0.35
-29.04
-9.42
2.60
-0.36
0.31
-29.04
-9.42
2.60
-0.36
0.28
-29.04
-9.42
2.60
-0.36
0.26
-29.04
-9.42
2.60
-0.36
0.23
-29.04
-9.42
2.60
-0.36
0.21
-15.84
-5.14
2.60
-0.20
0.19
0.00
0.00
2.60
0.00
0.17
0.00
0.00
2.60
0.00
0.15
0.00
0.00
2.60
0.00
0.14
0.00
0.00
2.60
0.00
0.13
0.00
0.00
2.60
0.00
0.11
0.00
0.00
2.60
0.00
0.10
0.00
0.00
2.60
0.00
0.09
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.03
8.53
2.48
0.34 Rs/Unit
[Typetext]
Page86
[Typetext]
Page87
Annexure-3A
Select State
AP
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
445.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Base Price
Rs/T
2315
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
24.00
5.72%
Page88
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
159.78
3.12
2
206.48
3.27
3
216.81
3.44
4
227.65
3.61
5
239.03
3.79
6
250.98
3.98
7
263.53
4.18
8
276.70
4.39
9
290.54
4.61
10
305.07
4.84
11
320.32
5.08
12
336.34
5.33
13
353.15
5.60
14
370.81
5.88
15
389.35
6.17
16
408.82
6.48
17
429.26
6.81
18
450.72
7.15
19
473.26
7.50
20
496.92
7.88
1
24.00
25.96
36.72
13.65
26.70
127.03
2.48
2
25.37
25.96
33.53
16.71
26.70
128.27
2.03
3
26.82
25.96
30.33
17.39
26.70
127.21
2.02
4
28.36
25.96
27.14
18.11
26.70
126.27
2.00
5
29.98
25.96
23.95
18.87
26.70
125.46
1.99
6
31.70
25.96
20.75
19.67
26.70
124.78
1.98
7
33.51
25.96
17.56
20.52
26.70
124.24
1.97
8
35.43
25.96
14.37
21.41
26.70
123.86
1.96
9
37.45
25.96
11.18
22.35
26.70
123.64
1.96
10
39.59
25.96
7.98
23.34
26.70
123.58
1.96
11
41.86
25.96
4.79
24.51
32.04
129.15
2.05
12
44.25
25.96
1.60
25.61
32.04
129.46
2.05
13
46.78
11.13
0.00
26.48
32.04
116.43
1.85
14
49.46
11.13
0.00
27.78
32.04
120.40
1.91
15
52.29
11.13
0.00
29.14
32.04
124.59
1.98
16
55.28
11.13
0.00
30.57
32.04
129.01
2.05
17
58.44
11.13
0.00
32.07
32.04
133.68
2.12
18
61.78
11.13
0.00
33.65
32.04
138.60
2.20
19
65.32
11.13
0.00
35.31
32.04
143.79
2.28
20
69.06
11.13
0.00
37.05
32.04
149.27
2.37
1
3.12
0.47
0.51
0.72
0.27
0.52
5.60
2
3.27
0.40
0.41
0.53
0.26
0.42
5.31
3
3.44
0.43
0.41
0.48
0.28
0.42
5.45
4
3.61
0.45
0.41
0.43
0.29
0.42
5.61
5
3.79
0.48
0.41
0.38
0.30
0.42
5.78
6
3.98
0.50
0.41
0.33
0.31
0.42
5.96
7
4.18
0.53
0.41
0.28
0.33
0.42
6.15
8
4.39
0.56
0.41
0.23
0.34
0.42
6.35
9
4.61
0.59
0.41
0.18
0.35
0.42
6.57
10
4.84
0.63
0.41
0.13
0.37
0.42
6.80
11
5.08
0.66
0.41
0.08
0.39
0.51
7.13
12
5.33
0.70
0.41
0.03
0.41
0.51
7.39
13
5.60
0.74
0.18
0.00
0.42
0.51
7.45
14
5.88
0.78
0.18
0.00
0.44
0.51
7.79
15
6.17
0.83
0.18
0.00
0.46
0.51
8.15
16
6.48
0.88
0.18
0.00
0.48
0.51
8.53
17
6.81
0.93
0.18
0.00
0.51
0.51
8.93
18
7.15
0.98
0.18
0.00
0.53
0.51
9.34
19
7.50
1.04
0.18
0.00
0.56
0.51
9.78
20
7.88
1.09
0.18
0.00
0.59
0.51
10.25
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.40
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.34
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
6.46
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.12 Rs/Kwh
2.06 Rs/Kwh
5.18 Rs/Kwh
Page89
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page90
[Typetext]
Page91
Annexure-3B
Select State
Harayana
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
445.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
Rs/T
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
[Typetext]
2635
3300
5.00%
24.00
5.72%
Page92
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
181.86
3.55
2
235.02
3.73
3
246.77
3.91
4
259.11
4.11
5
272.07
4.31
6
285.67
4.53
7
299.96
4.76
8
314.95
4.99
9
330.70
5.24
10
347.24
5.51
11
364.60
5.78
12
382.83
6.07
13
401.97
6.37
14
422.07
6.69
15
443.17
7.03
16
465.33
7.38
17
488.60
7.75
18
513.03
8.13
19
538.68
8.54
20
565.61
8.97
1
24.00
25.96
36.72
15.10
26.70
128.47
2.51
2
25.37
25.96
33.53
18.58
26.70
130.13
2.06
3
26.82
25.96
30.33
19.35
26.70
129.16
2.05
4
28.36
25.96
27.14
20.17
26.70
128.32
2.03
5
29.98
25.96
23.95
21.03
26.70
127.62
2.02
6
31.70
25.96
20.75
21.94
26.70
127.05
2.01
7
33.51
25.96
17.56
22.90
26.70
126.63
2.01
8
35.43
25.96
14.37
23.91
26.70
126.36
2.00
9
37.45
25.96
11.18
24.98
26.70
126.26
2.00
10
39.59
25.96
7.98
26.10
26.70
126.33
2.00
11
41.86
25.96
4.79
27.40
32.04
132.05
2.09
12
44.25
25.96
1.60
28.65
32.04
132.50
2.10
13
46.78
11.13
0.00
29.68
32.04
119.62
1.90
14
49.46
11.13
0.00
31.13
32.04
123.75
1.96
15
52.29
11.13
0.00
32.66
32.04
128.11
2.03
16
55.28
11.13
0.00
34.26
32.04
132.71
2.10
17
58.44
11.13
0.00
35.95
32.04
137.56
2.18
18
61.78
11.13
0.00
37.72
32.04
142.67
2.26
19
65.32
11.13
0.00
39.58
32.04
148.07
2.35
20
69.06
11.13
0.00
41.54
32.04
153.76
2.44
1
3.55
0.47
0.51
0.72
0.29
0.52
6.06
2
3.73
0.40
0.41
0.53
0.29
0.42
5.79
3
3.91
0.43
0.41
0.48
0.31
0.42
5.96
4
4.11
0.45
0.41
0.43
0.32
0.42
6.14
5
4.31
0.48
0.41
0.38
0.33
0.42
6.34
6
4.53
0.50
0.41
0.33
0.35
0.42
6.54
7
4.76
0.53
0.41
0.28
0.36
0.42
6.76
8
4.99
0.56
0.41
0.23
0.38
0.42
7.00
9
5.24
0.59
0.41
0.18
0.40
0.42
7.25
10
5.51
0.63
0.41
0.13
0.41
0.42
7.51
11
5.78
0.66
0.41
0.08
0.43
0.51
7.87
12
6.07
0.70
0.41
0.03
0.45
0.51
8.17
13
6.37
0.74
0.18
0.00
0.47
0.51
8.27
14
6.69
0.78
0.18
0.00
0.49
0.51
8.65
15
7.03
0.83
0.18
0.00
0.52
0.51
9.06
16
7.38
0.88
0.18
0.00
0.54
0.51
9.48
17
7.75
0.93
0.18
0.00
0.57
0.51
9.93
18
8.13
0.98
0.18
0.00
0.60
0.51
10.40
19
8.54
1.04
0.18
0.00
0.63
0.51
10.89
20
8.97
1.09
0.18
0.00
0.66
0.51
11.41
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
5.01
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.38
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
7.11
Levellised Tariff
Discount Factor
Unit
[Typetext]
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.55 Rs/Kwh
2.10 Rs/Kwh
5.65 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page93
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page94
Annexure-3C
Select State
Maharashtra
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
445.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
Rs/T
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
[Typetext]
2695
3300
5.00%
24.00
5.72%
Page95
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
186.00
3.63
2
240.37
3.81
3
252.39
4.00
4
265.01
4.20
5
278.26
4.41
6
292.18
4.63
7
306.79
4.86
8
322.12
5.11
9
338.23
5.36
10
355.14
5.63
11
372.90
5.91
12
391.54
6.21
13
411.12
6.52
14
431.68
6.84
15
453.26
7.19
16
475.92
7.55
17
499.72
7.92
18
524.71
8.32
19
550.94
8.74
20
578.49
9.17
1
24.00
25.96
36.72
15.37
26.70
128.74
2.51
2
25.37
25.96
33.53
18.93
26.70
130.48
2.07
3
26.82
25.96
30.33
19.72
26.70
129.53
2.05
4
28.36
25.96
27.14
20.55
26.70
128.71
2.04
5
29.98
25.96
23.95
21.44
26.70
128.02
2.03
6
31.70
25.96
20.75
22.37
26.70
127.47
2.02
7
33.51
25.96
17.56
23.35
26.70
127.07
2.01
8
35.43
25.96
14.37
24.38
26.70
126.83
2.01
9
37.45
25.96
11.18
25.47
26.70
126.75
2.01
10
39.59
25.96
7.98
26.62
26.70
126.85
2.01
11
41.86
25.96
4.79
27.94
32.04
132.59
2.10
12
44.25
25.96
1.60
29.22
32.04
133.07
2.11
13
46.78
11.13
0.00
30.27
32.04
120.22
1.91
14
49.46
11.13
0.00
31.76
32.04
124.38
1.97
15
52.29
11.13
0.00
33.32
32.04
128.77
2.04
16
55.28
11.13
0.00
34.96
32.04
133.40
2.12
17
58.44
11.13
0.00
36.68
32.04
138.28
2.19
18
61.78
11.13
0.00
38.49
32.04
143.44
2.27
19
65.32
11.13
0.00
40.39
32.04
148.87
2.36
20
69.06
11.13
0.00
42.38
32.04
154.60
2.45
1
3.63
0.47
0.51
0.72
0.30
0.52
6.14
2
3.81
0.40
0.41
0.53
0.30
0.42
5.88
3
4.00
0.43
0.41
0.48
0.31
0.42
6.06
4
4.20
0.45
0.41
0.43
0.33
0.42
6.24
5
4.41
0.48
0.41
0.38
0.34
0.42
6.44
6
4.63
0.50
0.41
0.33
0.35
0.42
6.65
7
4.86
0.53
0.41
0.28
0.37
0.42
6.88
8
5.11
0.56
0.41
0.23
0.39
0.42
7.12
9
5.36
0.59
0.41
0.18
0.40
0.42
7.37
10
5.63
0.63
0.41
0.13
0.42
0.42
7.64
11
5.91
0.66
0.41
0.08
0.44
0.51
8.01
12
6.21
0.70
0.41
0.03
0.46
0.51
8.32
13
6.52
0.74
0.18
0.00
0.48
0.51
8.42
14
6.84
0.78
0.18
0.00
0.50
0.51
8.82
15
7.19
0.83
0.18
0.00
0.53
0.51
9.23
16
7.55
0.88
0.18
0.00
0.55
0.51
9.66
17
7.92
0.93
0.18
0.00
0.58
0.51
10.12
18
8.32
0.98
0.18
0.00
0.61
0.51
10.59
19
8.74
1.04
0.18
0.00
0.64
0.51
11.10
20
9.17
1.09
0.18
0.00
0.67
0.51
11.62
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
5.12
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.39
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
7.23
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.63 Rs/Kwh
2.11 Rs/Kwh
5.74 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page96
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page97
[Typetext]
Page98
Annexure-3D
Select State
Punjab
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
445.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
Fuel Related Assumptions
After Stabilisation period
Heat Rate
During Stablization Period
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Base Price
Rs/T
2756
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
24.00
5.72%
Page99
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
190.21
3.71
2
245.82
3.90
3
258.11
4.09
4
271.01
4.30
5
284.56
4.51
6
298.79
4.74
7
313.73
4.97
8
329.42
5.22
9
345.89
5.48
10
363.18
5.76
11
381.34
6.05
12
400.41
6.35
13
420.43
6.67
14
441.45
7.00
15
463.52
7.35
16
486.70
7.72
17
511.03
8.10
18
536.58
8.51
19
563.41
8.93
20
591.58
9.38
1
24.00
25.96
36.72
15.64
26.70
129.02
2.52
2
25.37
25.96
33.53
19.28
26.70
130.84
2.07
3
26.82
25.96
30.33
20.09
26.70
129.91
2.06
4
28.36
25.96
27.14
20.95
26.70
129.10
2.05
5
29.98
25.96
23.95
21.85
26.70
128.43
2.04
6
31.70
25.96
20.75
22.80
26.70
127.91
2.03
7
33.51
25.96
17.56
23.80
26.70
127.53
2.02
8
35.43
25.96
14.37
24.86
26.70
127.31
2.02
9
37.45
25.96
11.18
25.97
26.70
127.25
2.02
10
39.59
25.96
7.98
27.14
26.70
127.38
2.02
11
41.86
25.96
4.79
28.50
32.04
133.14
2.11
12
44.25
25.96
1.60
29.80
32.04
133.65
2.12
13
46.78
11.13
0.00
30.88
32.04
120.83
1.92
14
49.46
11.13
0.00
32.40
32.04
125.02
1.98
15
52.29
11.13
0.00
33.99
32.04
129.44
2.05
16
55.28
11.13
0.00
35.66
32.04
134.11
2.13
17
58.44
11.13
0.00
37.42
32.04
139.02
2.20
18
61.78
11.13
0.00
39.26
32.04
144.21
2.29
19
65.32
11.13
0.00
41.20
32.04
149.69
2.37
20
69.06
11.13
0.00
43.24
32.04
155.46
2.46
1
3.71
0.47
0.51
0.72
0.31
0.52
6.23
2
3.90
0.40
0.41
0.53
0.31
0.42
5.97
3
4.09
0.43
0.41
0.48
0.32
0.42
6.15
4
4.30
0.45
0.41
0.43
0.33
0.42
6.34
5
4.51
0.48
0.41
0.38
0.35
0.42
6.55
6
4.74
0.50
0.41
0.33
0.36
0.42
6.77
7
4.97
0.53
0.41
0.28
0.38
0.42
7.00
8
5.22
0.56
0.41
0.23
0.39
0.42
7.24
9
5.48
0.59
0.41
0.18
0.41
0.42
7.50
10
5.76
0.63
0.41
0.13
0.43
0.42
7.78
11
6.05
0.66
0.41
0.08
0.45
0.51
8.16
12
6.35
0.70
0.41
0.03
0.47
0.51
8.47
13
6.67
0.74
0.18
0.00
0.49
0.51
8.58
14
7.00
0.78
0.18
0.00
0.51
0.51
8.98
15
7.35
0.83
0.18
0.00
0.54
0.51
9.40
16
7.72
0.88
0.18
0.00
0.57
0.51
9.84
17
8.10
0.93
0.18
0.00
0.59
0.51
10.31
18
8.51
0.98
0.18
0.00
0.62
0.51
10.79
19
8.93
1.04
0.18
0.00
0.65
0.51
11.31
20
9.38
1.09
0.18
0.00
0.69
0.51
11.84
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
5.24
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.40
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
7.35
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.71 Rs/Kwh
2.12 Rs/Kwh
5.83 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page100
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page101
[Typetext]
Page102
Annexure-3E
Select State
Rajasthan
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
10%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Rs Lacs/MW
445.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
power plant
Total O & M Expenses Escalation
[Typetext]
Rs/T
Kcal/kg
2300
3300
5.00%
24.00
5.72%
Page103
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
158.74
3.10
2
205.14
3.25
3
215.40
3.42
4
226.17
3.59
5
237.48
3.77
6
249.35
3.95
7
261.82
4.15
8
274.91
4.36
9
288.66
4.58
10
303.09
4.81
11
318.24
5.05
12
334.16
5.30
13
350.86
5.56
14
368.41
5.84
15
386.83
6.13
16
406.17
6.44
17
426.48
6.76
18
447.80
7.10
19
470.19
7.45
20
493.70
7.83
1
24.00
25.96
36.72
13.58
26.70
126.96
2.48
2
25.37
25.96
33.53
16.62
26.70
128.18
2.03
3
26.82
25.96
30.33
17.30
26.70
127.11
2.02
4
28.36
25.96
27.14
18.01
26.70
126.17
2.00
5
29.98
25.96
23.95
18.77
26.70
125.35
1.99
6
31.70
25.96
20.75
19.56
26.70
124.67
1.98
7
33.51
25.96
17.56
20.41
26.70
124.13
1.97
8
35.43
25.96
14.37
21.29
26.70
123.74
1.96
9
37.45
25.96
11.18
22.23
26.70
123.51
1.96
10
39.59
25.96
7.98
23.21
26.70
123.45
1.96
11
41.86
25.96
4.79
24.37
32.04
129.02
2.05
12
44.25
25.96
1.60
25.47
32.04
129.31
2.05
13
46.78
11.13
0.00
26.33
32.04
116.28
1.84
14
49.46
11.13
0.00
27.62
32.04
120.25
1.91
15
52.29
11.13
0.00
28.97
32.04
124.43
1.97
16
55.28
11.13
0.00
30.39
32.04
128.84
2.04
17
58.44
11.13
0.00
31.89
32.04
133.50
2.12
18
61.78
11.13
0.00
33.46
32.04
138.41
2.19
19
65.32
11.13
0.00
35.11
32.04
143.59
2.28
20
69.06
11.13
0.00
36.84
32.04
149.06
2.36
1
3.10
0.47
0.51
0.72
0.27
0.52
5.58
2
3.25
0.40
0.41
0.53
0.26
0.42
5.28
3
3.42
0.43
0.41
0.48
0.27
0.42
5.43
4
3.59
0.45
0.41
0.43
0.29
0.42
5.59
5
3.77
0.48
0.41
0.38
0.30
0.42
5.75
6
3.95
0.50
0.41
0.33
0.31
0.42
5.93
7
4.15
0.53
0.41
0.28
0.32
0.42
6.12
8
4.36
0.56
0.41
0.23
0.34
0.42
6.32
9
4.58
0.59
0.41
0.18
0.35
0.42
6.53
10
4.81
0.63
0.41
0.13
0.37
0.42
6.76
11
5.05
0.66
0.41
0.08
0.39
0.51
7.09
12
5.30
0.70
0.41
0.03
0.40
0.51
7.35
13
5.56
0.74
0.18
0.00
0.42
0.51
7.41
14
5.84
0.78
0.18
0.00
0.44
0.51
7.75
15
6.13
0.83
0.18
0.00
0.46
0.51
8.11
16
6.44
0.88
0.18
0.00
0.48
0.51
8.48
17
6.76
0.93
0.18
0.00
0.51
0.51
8.88
18
7.10
0.98
0.18
0.00
0.53
0.51
9.29
19
7.45
1.04
0.18
0.00
0.56
0.51
9.73
20
7.83
1.09
0.18
0.00
0.58
0.51
10.19
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.37
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.34
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
6.43
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.10 Rs/Kwh
2.06 Rs/Kwh
5.16 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page104
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page105
[Typetext]
Page106
Annexure-3F
Select State
TN
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
10%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Rs Lacs/MW
445.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
power plant
Total O & M Expenses Escalation
[Typetext]
Rs/T
Kcal/kg
2277
3300
5.00%
24.00
5.72%
Page107
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
157.15
3.07
2
203.09
3.22
3
213.25
3.38
4
223.91
3.55
5
235.10
3.73
6
246.86
3.91
7
259.20
4.11
8
272.16
4.32
9
285.77
4.53
10
300.06
4.76
11
315.06
5.00
12
330.82
5.25
13
347.36
5.51
14
364.72
5.78
15
382.96
6.07
16
402.11
6.38
17
422.21
6.69
18
443.32
7.03
19
465.49
7.38
20
488.76
7.75
1
24.00
25.96
36.72
13.48
26.70
126.86
2.48
2
25.37
25.96
33.53
16.49
26.70
128.04
2.03
3
26.82
25.96
30.33
17.16
26.70
126.97
2.01
4
28.36
25.96
27.14
17.87
26.70
126.02
2.00
5
29.98
25.96
23.95
18.61
26.70
125.20
1.99
6
31.70
25.96
20.75
19.40
26.70
124.51
1.97
7
33.51
25.96
17.56
20.23
26.70
123.96
1.97
8
35.43
25.96
14.37
21.11
26.70
123.56
1.96
9
37.45
25.96
11.18
22.04
26.70
123.32
1.96
10
39.59
25.96
7.98
23.02
26.70
123.25
1.95
11
41.86
25.96
4.79
24.16
32.04
128.81
2.04
12
44.25
25.96
1.60
25.25
32.04
129.10
2.05
13
46.78
11.13
0.00
26.10
32.04
116.05
1.84
14
49.46
11.13
0.00
27.38
32.04
120.00
1.90
15
52.29
11.13
0.00
28.72
32.04
124.17
1.97
16
55.28
11.13
0.00
30.13
32.04
128.57
2.04
17
58.44
11.13
0.00
31.61
32.04
133.22
2.11
18
61.78
11.13
0.00
33.16
32.04
138.11
2.19
19
65.32
11.13
0.00
34.80
32.04
143.28
2.27
20
69.06
11.13
0.00
36.52
32.04
148.74
2.36
1
3.07
0.47
0.51
0.72
0.26
0.52
5.54
2
3.22
0.40
0.41
0.53
0.26
0.42
5.25
3
3.38
0.43
0.41
0.48
0.27
0.42
5.39
4
3.55
0.45
0.41
0.43
0.28
0.42
5.55
5
3.73
0.48
0.41
0.38
0.30
0.42
5.71
6
3.91
0.50
0.41
0.33
0.31
0.42
5.89
7
4.11
0.53
0.41
0.28
0.32
0.42
6.08
8
4.32
0.56
0.41
0.23
0.33
0.42
6.27
9
4.53
0.59
0.41
0.18
0.35
0.42
6.49
10
4.76
0.63
0.41
0.13
0.36
0.42
6.71
11
5.00
0.66
0.41
0.08
0.38
0.51
7.04
12
5.25
0.70
0.41
0.03
0.40
0.51
7.29
13
5.51
0.74
0.18
0.00
0.41
0.51
7.35
14
5.78
0.78
0.18
0.00
0.43
0.51
7.69
15
6.07
0.83
0.18
0.00
0.46
0.51
8.04
16
6.38
0.88
0.18
0.00
0.48
0.51
8.41
17
6.69
0.93
0.18
0.00
0.50
0.51
8.81
18
7.03
0.98
0.18
0.00
0.53
0.51
9.22
19
7.38
1.04
0.18
0.00
0.55
0.51
9.65
20
7.75
1.09
0.18
0.00
0.58
0.51
10.11
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.33
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.34
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
6.39
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.07 Rs/Kwh
2.06 Rs/Kwh
5.12 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
[Typetext]
Page108
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page109
[Typetext]
Page110
Annexure-3G
Select State
UP
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
10%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Rs Lacs/MW
445.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
power plant
Total O & M Expenses Escalation
[Typetext]
Rs/T
Kcal/kg
2355
3300
5.00%
24.00
5.72%
Page111
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
162.54
3.17
2
210.05
3.33
3
220.55
3.50
4
231.58
3.67
5
243.16
3.86
6
255.32
4.05
7
268.08
4.25
8
281.49
4.46
9
295.56
4.69
10
310.34
4.92
11
325.85
5.17
12
342.15
5.42
13
359.25
5.70
14
377.22
5.98
15
396.08
6.28
16
415.88
6.59
17
436.68
6.92
18
458.51
7.27
19
481.44
7.63
20
505.51
8.01
1
24.00
25.96
36.72
13.83
26.70
127.21
2.48
2
25.37
25.96
33.53
16.94
26.70
128.50
2.04
3
26.82
25.96
30.33
17.64
26.70
127.45
2.02
4
28.36
25.96
27.14
18.37
26.70
126.52
2.01
5
29.98
25.96
23.95
19.14
26.70
125.73
1.99
6
31.70
25.96
20.75
19.95
26.70
125.06
1.98
7
33.51
25.96
17.56
20.81
26.70
124.54
1.97
8
35.43
25.96
14.37
21.72
26.70
124.17
1.97
9
37.45
25.96
11.18
22.68
26.70
123.96
1.97
10
39.59
25.96
7.98
23.69
26.70
123.92
1.96
11
41.86
25.96
4.79
24.87
32.04
129.51
2.05
12
44.25
25.96
1.60
25.99
32.04
129.84
2.06
13
46.78
11.13
0.00
26.88
32.04
116.83
1.85
14
49.46
11.13
0.00
28.20
32.04
120.82
1.92
15
52.29
11.13
0.00
29.58
32.04
125.03
1.98
16
55.28
11.13
0.00
31.03
32.04
129.47
2.05
17
58.44
11.13
0.00
32.55
32.04
134.16
2.13
18
61.78
11.13
0.00
34.16
32.04
139.11
2.21
19
65.32
11.13
0.00
35.84
32.04
144.33
2.29
20
69.06
11.13
0.00
37.61
32.04
149.83
2.38
1
3.17
0.47
0.51
0.72
0.27
0.52
5.65
2
3.33
0.40
0.41
0.53
0.27
0.42
5.37
3
3.50
0.43
0.41
0.48
0.28
0.42
5.52
4
3.67
0.45
0.41
0.43
0.29
0.42
5.68
5
3.86
0.48
0.41
0.38
0.30
0.42
5.85
6
4.05
0.50
0.41
0.33
0.32
0.42
6.03
7
4.25
0.53
0.41
0.28
0.33
0.42
6.23
8
4.46
0.56
0.41
0.23
0.34
0.42
6.43
9
4.69
0.59
0.41
0.18
0.36
0.42
6.65
10
4.92
0.63
0.41
0.13
0.38
0.42
6.89
11
5.17
0.66
0.41
0.08
0.39
0.51
7.22
12
5.42
0.70
0.41
0.03
0.41
0.51
7.48
13
5.70
0.74
0.18
0.00
0.43
0.51
7.55
14
5.98
0.78
0.18
0.00
0.45
0.51
7.90
15
6.28
0.83
0.18
0.00
0.47
0.51
8.26
16
6.59
0.88
0.18
0.00
0.49
0.51
8.65
17
6.92
0.93
0.18
0.00
0.52
0.51
9.05
18
7.27
0.98
0.18
0.00
0.54
0.51
9.48
19
7.63
1.04
0.18
0.00
0.57
0.51
9.92
20
8.01
1.09
0.18
0.00
0.60
0.51
10.39
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.48
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.35
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
6.54
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.17 Rs/Kwh
2.07 Rs/Kwh
5.24 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page112
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page113
[Typetext]
Page114
Annexure-3H
Select State
Others
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
10%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Rs Lacs/MW
445.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
311.50
133.50
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
311.50
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
133.50
20.00%
10.00
24.00%
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
4000
4000
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
power plant
Total O & M Expenses Escalation
[Typetext]
Rs/T
Kcal/kg
2476
3300
5.00%
24.00
5.72%
Page115
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.57
5.12
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Unit
Rs Lakh
Rs/kWh
Year--->
1
170.90
3.33
2
220.85
3.50
3
231.89
3.68
4
243.49
3.86
5
255.66
4.05
6
268.45
4.26
7
281.87
4.47
8
295.96
4.69
9
310.76
4.93
10
326.30
5.17
11
342.61
5.43
12
359.75
5.70
13
377.73
5.99
14
396.62
6.29
15
416.45
6.60
16
437.27
6.93
17
459.14
7.28
18
482.09
7.64
19
506.20
8.03
20
531.51
8.43
1
24.00
25.96
36.72
14.38
26.70
127.76
2.49
2
25.37
25.96
33.53
17.65
26.70
129.21
2.05
3
26.82
25.96
30.33
18.38
26.70
128.19
2.03
4
28.36
25.96
27.14
19.15
26.70
127.30
2.02
5
29.98
25.96
23.95
19.96
26.70
126.54
2.01
6
31.70
25.96
20.75
20.81
26.70
125.92
2.00
7
33.51
25.96
17.56
21.72
26.70
125.44
1.99
8
35.43
25.96
14.37
22.67
26.70
125.12
1.98
9
37.45
25.96
11.18
23.67
26.70
124.96
1.98
10
39.59
25.96
7.98
24.73
26.70
124.97
1.98
11
41.86
25.96
4.79
25.96
32.04
130.61
2.07
12
44.25
25.96
1.60
27.14
32.04
130.99
2.08
13
46.78
11.13
0.00
28.09
32.04
118.04
1.87
14
49.46
11.13
0.00
29.47
32.04
122.09
1.94
15
52.29
11.13
0.00
30.91
32.04
126.36
2.00
16
55.28
11.13
0.00
32.43
32.04
130.87
2.07
17
58.44
11.13
0.00
34.02
32.04
135.63
2.15
18
61.78
11.13
0.00
35.70
32.04
140.65
2.23
19
65.32
11.13
0.00
37.46
32.04
145.95
2.31
20
69.06
11.13
0.00
39.31
32.04
151.53
2.40
1
3.33
0.47
0.51
0.72
0.28
0.52
5.83
2
3.50
0.40
0.41
0.53
0.28
0.42
5.55
3
3.68
0.43
0.41
0.48
0.29
0.42
5.71
4
3.86
0.45
0.41
0.43
0.30
0.42
5.88
5
4.05
0.48
0.41
0.38
0.32
0.42
6.06
6
4.26
0.50
0.41
0.33
0.33
0.42
6.25
7
4.47
0.53
0.41
0.28
0.34
0.42
6.46
8
4.69
0.56
0.41
0.23
0.36
0.42
6.68
9
4.93
0.59
0.41
0.18
0.38
0.42
6.91
10
5.17
0.63
0.41
0.13
0.39
0.42
7.15
11
5.43
0.66
0.41
0.08
0.41
0.51
7.50
12
5.70
0.70
0.41
0.03
0.43
0.51
7.78
13
5.99
0.74
0.18
0.00
0.45
0.51
7.86
14
6.29
0.78
0.18
0.00
0.47
0.51
8.22
15
6.60
0.83
0.18
0.00
0.49
0.51
8.61
16
6.93
0.88
0.18
0.00
0.51
0.51
9.01
17
7.28
0.93
0.18
0.00
0.54
0.51
9.43
18
7.64
0.98
0.18
0.00
0.57
0.51
9.87
19
8.03
1.04
0.18
0.00
0.59
0.51
10.34
20
8.43
1.09
0.18
0.00
0.62
0.51
10.83
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.71
O&M expn
Rs/kWh
0.58
Depreciation
Rs/kWh
0.38
Int. on term loan
Rs/kWh
0.31
Int. on working capital
Rs/kWh
0.36
RoE
Rs/kWh
0.46
Total COG
Rs/kWh
6.79
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
3.33 Rs/Kwh
2.08 Rs/Kwh
5.42 Rs/Kwh
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page116
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
445.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.75
2
5.28%
23.50
3
5.28%
23.50
4
5.28%
23.50
5
5.28%
23.50
6
5.28%
23.50
7
5.28%
23.50
8
5.28%
23.50
9
5.28%
23.50
10
5.28%
23.50
11
5.28%
23.50
12
5.28%
23.50
13
5.28%
23.50
14
5.28%
23.50
15
5.28%
23.50
16
5.28%
23.50
17
5.28%
23.50
18
2.88%
12.82
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
178.00
60%
48.00%
12%
213.60
12%
9.60%
2.40%
42.72
2%
1.92%
0.48%
8.54
0%
0.38%
0.10%
1.71
0%
0.08%
0.02%
0.34
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
166.25
53.94
2.56
2.11
190.10
61.68
6.31
0.98
19.22
6.24
6.31
0.10
-14.95
-4.85
6.31
-0.08
-21.79
-7.07
6.31
-0.11
-23.15
-7.51
6.31
-0.12
-23.43
-7.60
6.31
-0.12
-23.48
-7.62
6.31
-0.12
-23.49
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-23.50
-7.62
6.31
-0.12
-12.82
-4.16
6.31
-0.07
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.13
(Rs/kWh)
Page117
[Typetext]
Page118
Annexure 4A
Select State
AP
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1307
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page119
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
3.23
O&M expn
Rs/kWh
0.66
Depreciation
Rs/kWh
0.61
Int. on term loan
Rs/kWh
0.49
Int. on working capital
Rs/kWh
0.29
RoE
Rs/kWh
0.74
Total COG
Rs/kWh
6.00
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
3.94
0.34
3.61
2
1
3.94
0.34
3.61
3
1
3.94
0.34
3.61
4
1
3.94
0.34
3.61
5
1
3.94
0.34
3.61
6
1
3.94
0.34
3.61
7
1
3.94
0.34
3.61
8
1
3.94
0.34
3.61
9
1
3.94
0.34
3.61
10
1
3.94
0.34
3.61
11
1
3.94
0.34
3.61
12
1
3.94
0.34
3.61
13
1
3.94
0.34
3.61
14
1
3.94
0.34
3.61
15
1
3.94
0.34
3.61
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
1
16.00
24.50
34.66
8.07
25.20
108.42
3.01
2
16.92
24.50
31.64
8.32
25.20
106.58
2.95
3
17.88
24.50
28.63
8.59
25.20
104.80
2.91
4
18.91
24.50
25.61
8.87
25.20
103.09
2.86
5
19.99
24.50
22.60
9.17
25.20
101.46
2.81
6
21.13
24.50
19.59
9.50
25.20
99.91
2.77
7
22.34
24.50
16.57
9.84
25.20
98.45
2.73
8
23.62
24.50
13.56
10.20
25.20
97.08
2.69
9
24.97
24.50
10.55
10.58
25.20
95.80
2.66
10
26.40
24.50
7.53
10.99
25.20
94.62
2.62
11
27.91
24.50
4.52
11.53
30.24
98.70
2.74
12
29.50
24.50
1.51
11.99
30.24
97.74
2.71
13
31.19
10.50
0.00
12.20
30.24
84.13
2.33
14
32.97
10.50
0.00
12.78
30.24
86.49
2.40
15
34.86
10.50
0.00
13.39
30.24
88.98
2.47
16
36.85
10.50
0.00
14.02
30.24
91.62
2.54
17
38.96
10.50
0.00
14.69
30.24
94.40
2.62
18
41.19
10.50
0.00
15.40
30.24
97.33
2.70
19
43.55
10.50
0.00
16.14
30.24
100.43
2.78
20
46.04
10.50
0.00
16.92
30.24
103.70
2.87
1
2.29
0.44
0.68
0.96
0.22
0.70
5.29
2
2.40
0.47
0.68
0.88
0.23
0.70
5.35
3
2.52
0.50
0.68
0.79
0.24
0.70
5.43
4
2.65
0.52
0.68
0.71
0.25
0.70
5.50
5
2.78
0.55
0.68
0.63
0.25
0.70
5.59
6
2.92
0.59
0.68
0.54
0.26
0.70
5.69
7
3.06
0.62
0.68
0.46
0.27
0.70
5.79
8
3.22
0.65
0.68
0.38
0.28
0.70
5.91
9
3.38
0.69
0.68
0.29
0.29
0.70
6.03
10
3.55
0.73
0.68
0.21
0.30
0.70
6.17
11
3.72
0.77
0.68
0.13
0.32
0.84
6.46
12
3.91
0.82
0.68
0.04
0.33
0.84
6.62
13
4.10
0.86
0.29
0.00
0.34
0.84
6.44
14
4.31
0.91
0.29
0.00
0.35
0.84
6.71
15
4.53
0.97
0.29
0.00
0.37
0.84
6.99
16
4.75
1.02
0.29
0.00
0.39
0.84
7.29
17
4.99
1.08
0.29
0.00
0.41
0.84
7.61
18
5.24
1.14
0.29
0.00
0.43
0.84
7.94
19
5.50
1.21
0.29
0.00
0.45
0.84
8.28
20
5.78
1.28
0.29
0.00
0.47
0.84
8.65
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
2.29 Rs/Kwh
2.77 Rs/Kwh
5.06 Rs/Kwh
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page120
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Income Tax (MAT)
20.0000%
Income Tax (Normal Rates)
32.4450%
Capital Cost
420.0
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60%
12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91
50.91
1.80
2.82
179.42
58.21
3.61
1.61
1.00
0.95
Discounting Factor
Levellised benefit
[Typetext]
0.21
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
0.16 -0.13 -0.18 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.11
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
Page121
[Typetext]
Page122
Annexure 4B
Select State
Harayana
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1859
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page123
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.59
O&M expn
Rs/kWh
0.56
Depreciation
Rs/kWh
0.51
Int. on term loan
Rs/kWh
0.41
Int. on working capital
Rs/kWh
0.36
RoE
Rs/kWh
0.62
Total COG
Rs/kWh
7.06
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
1
16.00
24.50
34.66
11.71
25.20
112.06
2.64
2
16.92
24.50
31.64
12.14
25.20
110.40
2.60
3
17.88
24.50
28.63
12.60
25.20
108.81
2.56
4
18.91
24.50
25.61
13.09
25.20
107.31
2.53
5
19.99
24.50
22.60
13.60
25.20
105.89
2.49
6
21.13
24.50
19.59
14.14
25.20
104.56
2.46
7
22.34
24.50
16.57
14.72
25.20
103.33
2.43
1
3.25
0.38
0.58
0.82
0.28
0.59
5.89
2
3.41
0.40
0.58
0.74
0.29
0.59
6.01
3
3.58
0.42
0.58
0.67
0.30
0.59
6.15
4
3.76
0.45
0.58
0.60
0.31
0.59
6.29
5
3.95
0.47
0.58
0.53
0.32
0.59
6.44
6
4.15
0.50
0.58
0.46
0.33
0.59
6.61
7
4.36
0.53
0.58
0.39
0.35
0.59
6.79
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
8
9
23.62
24.97
24.50
24.50
13.56
10.55
15.32
15.96
25.20
25.20
102.20 101.18
2.41
2.38
8
4.57
0.56
0.58
0.32
0.36
0.59
6.98
8
0.493
9
4.80
0.59
0.58
0.25
0.38
0.59
7.18
9
0.446
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
15
1
4.64
0.39
4.25
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
10
26.40
24.50
7.53
16.64
25.20
100.27
2.36
11
27.91
24.50
4.52
17.46
30.24
104.63
2.46
12
29.50
24.50
1.51
18.22
30.24
103.96
2.45
13
31.19
10.50
0.00
18.74
30.24
90.67
2.13
14
32.97
10.50
0.00
19.64
30.24
93.36
2.20
15
34.86
10.50
0.00
20.59
30.24
96.19
2.26
16
36.85
10.50
0.00
21.59
30.24
99.18
2.33
17
38.96
10.50
0.00
22.64
30.24
102.34
2.41
18
41.19
10.50
0.00
23.74
30.24
105.67
2.49
19
43.55
10.50
0.00
24.90
30.24
109.19
2.57
20
46.04
10.50
0.00
26.12
30.24
112.89
2.66
10
5.04
0.62
0.58
0.18
0.39
0.59
7.40
11
5.30
0.66
0.58
0.11
0.41
0.71
7.76
12
5.56
0.69
0.58
0.04
0.43
0.71
8.01
13
5.84
0.73
0.25
0.00
0.44
0.71
7.97
14
6.13
0.78
0.25
0.00
0.46
0.71
8.33
15
6.44
0.82
0.25
0.00
0.48
0.71
8.70
16
6.76
0.87
0.25
0.00
0.51
0.71
9.09
17
7.10
0.92
0.25
0.00
0.53
0.71
9.50
18
7.45
0.97
0.25
0.00
0.56
0.71
9.94
19
7.82
1.03
0.25
0.00
0.59
0.71
10.39
20
8.21
1.08
0.25
0.00
0.61
0.71
10.87
10
0.403
11
0.365
12
0.330
3.25 Rs/Kwh
2.48 Rs/Kwh
5.73 Rs/Kwh
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page124
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Income Tax (MAT)
20.0000%
Income Tax (Normal Rates) 32.4450%
Capital Cost
420.0
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91 179.42
50.91
58.21
2.12
4.25
2.40
1.37
Discounting Factor
Levellised benefit
[Typetext]
1.00
0.18
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
0.95
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
Page125
[Typetext]
Page126
Annexure 4C
Select State
Maharashtra
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1832
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page127
Determination of Tariff for non-fossil fuel basd co-generation Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.52
O&M expn
Rs/kWh
0.50
Depreciation
Rs/kWh
0.45
Int. on term loan
Rs/kWh
0.36
Int. on working capital
Rs/kWh
0.35
RoE
Rs/kWh
0.55
Total COG
Rs/kWh
6.74
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
5.26
0.45
4.81
2
1
5.26
0.45
4.81
3
1
5.26
0.45
4.81
4
1
5.26
0.45
4.81
5
1
5.26
0.45
4.81
6
1
5.26
0.45
4.81
7
1
5.26
0.45
4.81
1
16.00
24.50
34.66
12.75
25.20
113.11
2.35
2
16.92
24.50
31.64
13.24
25.20
111.49
2.32
3
17.88
24.50
28.63
13.75
25.20
109.96
2.29
4
18.91
24.50
25.61
14.29
25.20
108.51
2.26
5
19.99
24.50
22.60
14.87
25.20
107.16
2.23
6
21.13
24.50
19.59
15.47
25.20
105.89
2.20
7
22.34
24.50
16.57
16.11
25.20
104.73
2.18
1
3.20
0.33
0.51
0.72
0.27
0.52
5.56
2
3.36
0.35
0.51
0.66
0.28
0.52
5.68
3
3.53
0.37
0.51
0.60
0.29
0.52
5.82
4
3.71
0.39
0.51
0.53
0.30
0.52
5.96
5
3.89
0.42
0.51
0.47
0.31
0.52
6.12
6
4.09
0.44
0.51
0.41
0.32
0.52
6.29
7
4.29
0.46
0.51
0.34
0.34
0.52
6.47
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
1
5.26
0.45
4.81
9
1
5.26
0.45
4.81
8
9
23.62
24.97
24.50
24.50
13.56
10.55
16.79
17.50
25.20
25.20
103.67 102.72
2.16
2.14
8
4.51
0.49
0.51
0.28
0.35
0.52
6.66
8
0.493
9
4.73
0.52
0.51
0.22
0.36
0.52
6.87
9
0.446
10
1
5.26
0.45
4.81
11
1
5.26
0.45
4.81
12
1
5.26
0.45
4.81
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
15
1
5.26
0.45
4.81
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
10
26.40
24.50
7.53
18.26
25.20
101.89
2.12
11
27.91
24.50
4.52
19.16
30.24
106.33
2.21
12
29.50
24.50
1.51
20.00
30.24
105.75
2.20
13
31.19
10.50
0.00
20.61
30.24
92.54
1.92
14
32.97
10.50
0.00
21.61
30.24
95.32
1.98
15
34.86
10.50
0.00
22.66
30.24
98.26
2.04
16
36.85
10.50
0.00
23.76
30.24
101.35
2.11
17
38.96
10.50
0.00
24.92
30.24
104.62
2.18
18
41.19
10.50
0.00
26.14
30.24
108.07
2.25
19
43.55
10.50
0.00
27.41
30.24
111.70
2.32
20
46.04
10.50
0.00
28.76
30.24
115.53
2.40
10
4.97
0.55
0.51
0.16
0.38
0.52
7.09
11
5.22
0.58
0.51
0.09
0.40
0.63
7.43
12
5.48
0.61
0.51
0.03
0.42
0.63
7.68
13
5.75
0.65
0.22
0.00
0.43
0.63
7.68
14
6.04
0.69
0.22
0.00
0.45
0.63
8.02
15
6.34
0.72
0.22
0.00
0.47
0.63
8.39
16
6.66
0.77
0.22
0.00
0.49
0.63
8.77
17
6.99
0.81
0.22
0.00
0.52
0.63
9.17
18
7.34
0.86
0.22
0.00
0.54
0.63
9.59
19
7.71
0.91
0.22
0.00
0.57
0.63
10.03
20
8.10
0.96
0.22
0.00
0.60
0.63
10.50
10
0.403
11
0.365
12
0.330
3.20 Rs/Kwh
2.22 Rs/Kwh
5.42 Rs/Kwh
Page128
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91 179.42 18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
50.91
58.21
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
2.40
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
2.12
1.21
0.12 -0.10 -0.14 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.08
Discounting Factor
Levellised benefit
[Typetext]
1.00
0.16
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 22.18 12.10
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
(Rs/kWh)
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.17
0.15
Page129
[Typetext]
Page130
Annexure 4D
Select State
Punjab
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1636
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page131
[Typetext]
Unit
MW
MU
MU
MU
Year--->
Unit
Year--->
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Useful life
Unit
Levellised
Rs/kWh
4.04
Rs/kWh
0.56
Rs/kWh
0.51
Rs/kWh
0.41
Rs/kWh
0.33
Rs/kWh
0.62
Rs/kWh
6.48
Unit
Year -->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
15
1
4.64
0.39
4.25
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
1
16.00
24.50
34.66
10.62
25.20
110.98
2.61
2
16.92
24.50
31.64
11.00
25.20
109.26
2.57
3
17.88
24.50
28.63
11.41
25.20
107.62
2.53
4
18.91
24.50
25.61
11.83
25.20
106.05
2.50
5
19.99
24.50
22.60
12.28
25.20
104.57
2.46
6
21.13
24.50
19.59
12.76
25.20
103.18
2.43
7
22.34
24.50
16.57
13.26
25.20
101.88
2.40
8
23.62
24.50
13.56
13.80
25.20
100.67
2.37
9
24.97
24.50
10.55
14.36
25.20
99.58
2.34
10
26.40
24.50
7.53
14.96
25.20
98.59
2.32
11
27.91
24.50
4.52
15.70
30.24
102.86
2.42
12
29.50
24.50
1.51
16.36
30.24
102.11
2.40
13
31.19
10.50
0.00
16.79
30.24
88.72
2.09
14
32.97
10.50
0.00
17.60
30.24
91.31
2.15
15
34.86
10.50
0.00
18.45
30.24
94.05
2.21
16
36.85
10.50
0.00
19.34
30.24
96.93
2.28
17
38.96
10.50
0.00
20.27
30.24
99.98
2.35
18
41.19
10.50
0.00
21.26
30.24
103.19
2.43
19
43.55
10.50
0.00
22.29
30.24
106.58
2.51
20
46.04
10.50
0.00
23.38
30.24
110.16
2.59
1
2.86
0.38
0.58
0.82
0.25
0.59
5.47
2
3.00
0.40
0.58
0.74
0.26
0.59
5.58
3
3.15
0.42
0.58
0.67
0.27
0.59
5.69
4
3.31
0.45
0.58
0.60
0.28
0.59
5.81
5
3.48
0.47
0.58
0.53
0.29
0.59
5.94
6
3.65
0.50
0.58
0.46
0.30
0.59
6.08
7
3.83
0.53
0.58
0.39
0.31
0.59
6.23
8
4.03
0.56
0.58
0.32
0.32
0.59
6.40
9
4.23
0.59
0.58
0.25
0.34
0.59
6.57
10
4.44
0.62
0.58
0.18
0.35
0.59
6.76
11
4.66
0.66
0.58
0.11
0.37
0.71
7.08
12
4.89
0.69
0.58
0.04
0.39
0.71
7.30
13
5.14
0.73
0.25
0.00
0.40
0.71
7.23
14
5.39
0.78
0.25
0.00
0.41
0.71
7.54
15
5.66
0.82
0.25
0.00
0.43
0.71
7.88
16
5.95
0.87
0.25
0.00
0.46
0.71
8.23
17
6.24
0.92
0.25
0.00
0.48
0.71
8.60
18
6.56
0.97
0.25
0.00
0.50
0.71
8.99
19
6.88
1.03
0.25
0.00
0.52
0.71
9.39
20
7.23
1.08
0.25
0.00
0.55
0.71
9.82
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
2.86 Rs/Kwh
2.44 Rs/Kwh
5.30 Rs/Kwh
19
0.163
20
0.147
Page132
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60%
12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91
50.91
2.12
2.40
179.42
58.21
4.25
1.37
1.00
0.95
Discounting Factor
Levellised benefit
[Typetext]
0.18
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
Page133
[Typetext]
Page134
Annexure 4E
Select State
TN
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1408
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page135
Determination of Tariff for non-fossil fuel basd co-generation Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
3.47
O&M expn
Rs/kWh
0.50
Depreciation
Rs/kWh
0.45
Int. on term loan
Rs/kWh
0.36
Int. on working capital
Rs/kWh
0.28
RoE
Rs/kWh
0.55
Total COG
Rs/kWh
5.62
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
5.26
0.45
4.81
2
1
5.26
0.45
4.81
3
1
5.26
0.45
4.81
4
1
5.26
0.45
4.81
5
1
5.26
0.45
4.81
6
1
5.26
0.45
4.81
7
1
5.26
0.45
4.81
8
1
5.26
0.45
4.81
9
1
5.26
0.45
4.81
10
1
5.26
0.45
4.81
11
1
5.26
0.45
4.81
12
1
5.26
0.45
4.81
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
15
1
5.26
0.45
4.81
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
1
16.00
24.50
34.66
10.42
25.20
110.77
2.30
2
16.92
24.50
31.64
10.79
25.20
109.05
2.27
3
17.88
24.50
28.63
11.18
25.20
107.39
2.23
4
18.91
24.50
25.61
11.59
25.20
105.81
2.20
5
19.99
24.50
22.60
12.03
25.20
104.32
2.17
6
21.13
24.50
19.59
12.50
25.20
102.92
2.14
7
22.34
24.50
16.57
12.99
25.20
101.60
2.11
8
23.62
24.50
13.56
13.51
25.20
100.39
2.09
9
24.97
24.50
10.55
14.06
25.20
99.27
2.06
10
26.40
24.50
7.53
14.64
25.20
98.27
2.04
11
27.91
24.50
4.52
15.36
30.24
102.53
2.13
12
29.50
24.50
1.51
16.01
30.24
101.76
2.12
13
31.19
10.50
0.00
16.43
30.24
88.35
1.84
14
32.97
10.50
0.00
17.21
30.24
90.93
1.89
15
34.86
10.50
0.00
18.04
30.24
93.64
1.95
16
36.85
10.50
0.00
18.91
30.24
96.51
2.01
17
38.96
10.50
0.00
19.83
30.24
99.53
2.07
18
41.19
10.50
0.00
20.79
30.24
102.72
2.14
19
43.55
10.50
0.00
21.80
30.24
106.09
2.21
20
46.04
10.50
0.00
22.86
30.24
109.64
2.28
1
2.46
0.33
0.51
0.72
0.22
0.52
4.77
2
2.59
0.35
0.51
0.66
0.22
0.52
4.85
3
2.71
0.37
0.51
0.60
0.23
0.52
4.95
4
2.85
0.39
0.51
0.53
0.24
0.52
5.05
5
2.99
0.42
0.51
0.47
0.25
0.52
5.16
6
3.14
0.44
0.51
0.41
0.26
0.52
5.28
7
3.30
0.46
0.51
0.34
0.27
0.52
5.41
8
3.46
0.49
0.51
0.28
0.28
0.52
5.55
9
3.64
0.52
0.51
0.22
0.29
0.52
5.70
10
3.82
0.55
0.51
0.16
0.30
0.52
5.86
11
4.01
0.58
0.51
0.09
0.32
0.63
6.14
12
4.21
0.61
0.51
0.03
0.33
0.63
6.33
13
4.42
0.65
0.22
0.00
0.34
0.63
6.26
14
4.64
0.69
0.22
0.00
0.36
0.63
6.53
15
4.87
0.72
0.22
0.00
0.38
0.63
6.82
16
5.12
0.77
0.22
0.00
0.39
0.63
7.13
17
5.37
0.81
0.22
0.00
0.41
0.63
7.44
18
5.64
0.86
0.22
0.00
0.43
0.63
7.78
19
5.93
0.91
0.22
0.00
0.45
0.63
8.13
20
6.22
0.96
0.22
0.00
0.48
0.63
8.50
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
2.46 Rs/Kwh
2.15 Rs/Kwh
4.61 Rs/Kwh
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page136
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60%
12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91
50.91
2.40
2.12
179.42
58.21
4.81
1.21
1.00
0.95
Years
----------------->
Book Depreciation
Discounting Factor
Levellised benefit
[Typetext]
0.16
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
4.81
0.12 -0.10 -0.14 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.08
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.17
0.15
Page137
[Typetext]
Page138
Annexure 4F
Select State
UP
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1458
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page139
Determination of Tariff for non-fossil fuel basd co-generation Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
3.60
O&M expn
Rs/kWh
0.66
Depreciation
Rs/kWh
0.61
Int. on term loan
Rs/kWh
0.49
Int. on working capital
Rs/kWh
0.31
RoE
Rs/kWh
0.74
Total COG
Rs/kWh
6.39
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
3.94
0.34
3.61
2
1
3.94
0.34
3.61
3
1
3.94
0.34
3.61
4
1
3.94
0.34
3.61
5
1
3.94
0.34
3.61
6
1
3.94
0.34
3.61
7
1
3.94
0.34
3.61
8
1
3.94
0.34
3.61
9
1
3.94
0.34
3.61
10
1
3.94
0.34
3.61
11
1
3.94
0.34
3.61
12
1
3.94
0.34
3.61
13
1
3.94
0.34
3.61
14
1
3.94
0.34
3.61
15
1
3.94
0.34
3.61
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
1
16.00
24.50
34.66
8.69
25.20
109.04
3.02
2
16.92
24.50
31.64
8.97
25.20
107.23
2.97
3
17.88
24.50
28.63
9.27
25.20
105.48
2.92
4
18.91
24.50
25.61
9.59
25.20
103.81
2.88
5
19.99
24.50
22.60
9.93
25.20
102.22
2.83
6
21.13
24.50
19.59
10.29
25.20
100.71
2.79
7
22.34
24.50
16.57
10.67
25.20
99.29
2.75
8
23.62
24.50
13.56
11.08
25.20
97.95
2.72
9
24.97
24.50
10.55
11.50
25.20
96.72
2.68
10
26.40
24.50
7.53
11.96
25.20
95.59
2.65
11
27.91
24.50
4.52
12.55
30.24
99.71
2.76
12
29.50
24.50
1.51
13.05
30.24
98.80
2.74
13
31.19
10.50
0.00
13.32
30.24
85.25
2.36
14
32.97
10.50
0.00
13.95
30.24
87.67
2.43
15
34.86
10.50
0.00
14.62
30.24
90.22
2.50
16
36.85
10.50
0.00
15.32
30.24
92.91
2.58
17
38.96
10.50
0.00
16.05
30.24
95.75
2.65
18
41.19
10.50
0.00
16.83
30.24
98.76
2.74
19
43.55
10.50
0.00
17.64
30.24
101.92
2.83
20
46.04
10.50
0.00
18.49
30.24
105.27
2.92
1
2.55
0.44
0.68
0.96
0.24
0.70
5.57
2
2.68
0.47
0.68
0.88
0.25
0.70
5.65
3
2.81
0.50
0.68
0.79
0.26
0.70
5.74
4
2.95
0.52
0.68
0.71
0.27
0.70
5.83
5
3.10
0.55
0.68
0.63
0.28
0.70
5.93
6
3.25
0.59
0.68
0.54
0.29
0.70
6.05
7
3.42
0.62
0.68
0.46
0.30
0.70
6.17
8
3.59
0.65
0.68
0.38
0.31
0.70
6.30
9
3.77
0.69
0.68
0.29
0.32
0.70
6.45
10
3.96
0.73
0.68
0.21
0.33
0.70
6.61
11
4.15
0.77
0.68
0.13
0.35
0.84
6.92
12
4.36
0.82
0.68
0.04
0.36
0.84
7.10
13
4.58
0.86
0.29
0.00
0.37
0.84
6.94
14
4.81
0.91
0.29
0.00
0.39
0.84
7.24
15
5.05
0.97
0.29
0.00
0.41
0.84
7.55
16
5.30
1.02
0.29
0.00
0.42
0.84
7.88
17
5.57
1.08
0.29
0.00
0.45
0.84
8.22
18
5.84
1.14
0.29
0.00
0.47
0.84
8.58
19
6.14
1.21
0.29
0.00
0.49
0.84
8.96
20
6.44
1.28
0.29
0.00
0.51
0.84
9.36
8
0.493
9
0.446
11
0.365
12
0.330
15
0.244
16
0.220
17
0.199
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
10
0.403
13
0.298
2.55 Rs/Kwh
2.80 Rs/Kwh
5.35 Rs/Kwh
14
0.269
18
0.180
19
0.163
20
0.147
Page140
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60%
12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91
50.91
1.80
2.82
179.42
58.21
3.61
1.61
1.00
0.95
Years
----------------->
Book Depreciation
Discounting Factor
Levellised benefit
[Typetext]
0.21
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
0.16 -0.13 -0.18 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.11
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
Page141
[Typetext]
Page142
Annexure 4G
Select State
Others
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
MW
Auxillary Consumption during stablisatio%
Auxillary Consumption after stabilisation%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization) %
PLF(second year onwards)
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Rs Lacs/MW
420.00
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.00
126.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
294.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
126.00
20.00%
10.00
24.00%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.4450%
20%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
6
Months
Months
1
15%
2
Months
%
4
12.80%
Kcal/kwh
Kcal/kwh
3600
3600
Base Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
1583
2250
5.00%
Rs. Lacs
%
16.00
5.72%
Biomass
[Typetext]
Page143
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
3.91
O&M expn
Rs/kWh
0.56
Depreciation
Rs/kWh
0.51
Int. on term loan
Rs/kWh
0.41
Int. on working capital
Rs/kWh
0.32
RoE
Rs/kWh
0.62
Total COG
Rs/kWh
6.34
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
Unit
Year -->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
15
1
4.64
0.39
4.25
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
1
16.00
24.50
34.66
10.37
25.20
110.72
2.61
2
16.92
24.50
31.64
10.73
25.20
108.99
2.57
3
17.88
24.50
28.63
11.12
25.20
107.33
2.53
4
18.91
24.50
25.61
11.53
25.20
105.75
2.49
5
19.99
24.50
22.60
11.97
25.20
104.26
2.45
6
21.13
24.50
19.59
12.43
25.20
102.85
2.42
7
22.34
24.50
16.57
12.92
25.20
101.53
2.39
8
23.62
24.50
13.56
13.44
25.20
100.31
2.36
9
24.97
24.50
10.55
13.98
25.20
99.20
2.34
10
26.40
24.50
7.53
14.56
25.20
98.19
2.31
11
27.91
24.50
4.52
15.28
30.24
102.44
2.41
12
29.50
24.50
1.51
15.92
30.24
101.67
2.39
13
31.19
10.50
0.00
16.33
30.24
88.26
2.08
14
32.97
10.50
0.00
17.11
30.24
90.83
2.14
15
34.86
10.50
0.00
17.94
30.24
93.54
2.20
16
36.85
10.50
0.00
18.80
30.24
96.40
2.27
17
38.96
10.50
0.00
19.71
30.24
99.41
2.34
18
41.19
10.50
0.00
20.67
30.24
102.60
2.42
19
43.55
10.50
0.00
21.67
30.24
105.96
2.49
20
46.04
10.50
0.00
22.73
30.24
109.51
2.58
1
2.77
0.38
0.58
0.82
0.24
0.59
5.37
2
2.91
0.40
0.58
0.74
0.25
0.59
5.47
3
3.05
0.42
0.58
0.67
0.26
0.59
5.58
4
3.20
0.45
0.58
0.60
0.27
0.59
5.69
5
3.36
0.47
0.58
0.53
0.28
0.59
5.82
6
3.53
0.50
0.58
0.46
0.29
0.59
5.95
7
3.71
0.53
0.58
0.39
0.30
0.59
6.10
8
3.89
0.56
0.58
0.32
0.32
0.59
6.26
9
4.09
0.59
0.58
0.25
0.33
0.59
6.42
10
4.29
0.62
0.58
0.18
0.34
0.59
6.61
11
4.51
0.66
0.58
0.11
0.36
0.71
6.92
12
4.73
0.69
0.58
0.04
0.37
0.71
7.13
13
4.97
0.73
0.25
0.00
0.38
0.71
7.05
14
5.22
0.78
0.25
0.00
0.40
0.71
7.36
15
5.48
0.82
0.25
0.00
0.42
0.71
7.68
16
5.75
0.87
0.25
0.00
0.44
0.71
8.02
17
6.04
0.92
0.25
0.00
0.46
0.71
8.38
18
6.34
0.97
0.25
0.00
0.49
0.71
8.76
19
6.66
1.03
0.25
0.00
0.51
0.71
9.16
20
6.99
1.08
0.25
0.00
0.54
0.71
9.57
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
2.77 Rs/Kwh
2.43 Rs/Kwh
5.20 Rs/Kwh
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
[Typetext]
Page144
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Income Tax (MAT)
20.0000%
Income Tax (Normal Rates) 32.4450%
Capital Cost
420.0
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.09
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60%
12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
60%
12% 2.40% 0.48% 0.10% 0.02% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
168.00 201.60 40.32
8.06
1.61
0.32
0.06
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
156.91
50.91
2.12
2.40
Discounting Factor
Levellised benefit
[Typetext]
1.00
0.18
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
22.18
12.10
179.42 18.14 -14.11 -20.56 -21.85 -22.11 -22.16 -22.17 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -22.18 -12.10
58.21
5.89 -4.58 -6.67 -7.09 -7.17 -7.19 -7.19 -7.19 -7.19 -7.19 -7.20 -7.20 -7.20 -7.20 -7.20 -3.92
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
1.37
0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
(Rs/kWh)
Page145
0.31
0.28
0.26
0.23
0.21
0.19
0.00
0.00
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
Annexure 5A
Assumption
Sub-Head
Head
Sub-Head (2)
Unit
Asumptions
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Auxilary Consumption
Useful Life
MW
%
%
Years
1
19.0%
0.00%
25
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Rs Lacs
Rs Lacs
700.00
300.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
700.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Rs Lacs
% p.a
Year
% p.a
300.00
20.00%
10
24.00%
22.40%
2 Project Cost
Capital Cost/MW
1000
3 Financial Assumptions
25
Debt: Equity
70%
30%
Debt Component
Equity Component
Discount Rate
4
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.000%
Yes
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
Months
1
15%
2
Months
%
12.80%
[Typetext]
Rs. Lacs
%
11.00
5.72%
Page146
[Typetext]
Page147
Unit
Installed Capacity
Gross Generation
MW
MU
Fixed Cost
Unit
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Year--->
Year--->
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
11.00
58.33
82.51
4.95
60.00
216.80
11.63
58.33
75.34
4.83
60.00
210.13
12.29
58.33
68.16
4.71
60.00
203.50
13.00
58.33
60.99
4.59
60.00
196.91
13.74
58.33
53.81
4.47
60.00
190.36
14.53
58.33
46.64
4.36
60.00
183.85
15.36
58.33
39.46
4.24
60.00
177.40
16.24
58.33
32.29
4.13
60.00
170.99
17.17
58.33
25.11
4.02
60.00
164.64
18.15
58.33
17.94
3.92
60.00
158.34
19.19
58.33
10.76
4.08
72.00
164.36
20.28
58.33
3.59
3.98
72.00
158.18
21.44
15.38
0.00
3.03
72.00
111.85
22.67
15.38
0.00
3.09
72.00
113.14
23.97
15.38
0.00
3.16
72.00
114.51
25.34
15.38
0.00
3.23
72.00
115.95
26.79
15.38
0.00
3.31
72.00
117.48
28.32
15.38
0.00
3.39
72.00
119.09
29.94
15.38
0.00
3.47
72.00
120.79
31.65
15.38
0.00
3.56
72.00
122.60
33.46
15.38
0.00
3.66
72.00
124.50
35.37
15.38
0.00
3.76
72.00
126.51
37.40
15.38
0.00
3.86
72.00
128.64
39.54
15.38
0.00
3.97
72.00
130.90
41.80
15.38
0.00
4.09
72.00
133.28
Levellised COG
Unit
Levellised
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
O&M expn
Rs/kWh
1.06
0.66
0.70
0.74
0.78
0.83
0.87
0.92
0.98
1.03
1.09
1.15
1.22
1.29
1.36
1.44
1.52
1.61
1.70
1.80
1.90
2.01
2.13
2.25
2.38
2.51
Depreciation
Rs/kWh
2.89
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
3.50
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
0.92
Rs/kWh
2.36
4.96
4.53
4.10
3.66
3.23
2.80
2.37
1.94
1.51
1.08
0.65
0.22
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs/kWh
0.25
0.30
0.29
0.28
0.28
0.27
0.26
0.25
0.25
0.24
0.24
0.25
0.24
0.18
0.19
0.19
0.19
0.20
0.20
0.21
0.21
0.22
0.23
0.23
0.24
0.25
RoE
Rs/kWh
3.83
3.60
3.60
3.60
3.60
3.60
3.60
3.60
3.60
3.60
3.60
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
4.33
Total COG
Rs/kWh
e e sed
10.39
13.03
12.62
12.23
11.83
11.44
11.05
10.66
10.27
9.89
9.51
9.88
9.50
6.72
6.80
6.88
6.97
7.06
7.16
7.26
7.37
7.48
7.60
7.73
7.86
8.01
0.446
172.95
0.403
172.95
0.365
172.95
0.330
172.95
0.298
172.95
0.269
172.95
0.244
172.95
0.220
172.95
0.199
172.95
0.180
172.95
0.163
172.95
0.147
172.95
0.133
172.95
0.120
172.95
0.109
172.95
0.098
172.95
0.089
172.95
Discount Factor
Fixed Cost
Levellised Tariff
10.39
10.39
1
172.95
0.904
172.95
0.817
172.95
0.739
172.95
0.668
172.95
0.604
172.95
0.546
172.95
0.493
172.95
Rs/Unit
[Typetext]
Page148
Determination of Accelerated Depreciation Benefit for Solar PV Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
Years
----------------->
Book Depreciation
Book Depreciation
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
Net Depreciation Benefit
Tax Benefit
Energy generation
Discounting Factor
90%
5.28%
80%
20.0000%
32.4450%
1000.0
Unit
Rs Lakh
1
2.64%
26.40
2
5.28%
52.80
3
5.28%
52.80
4
5.28%
52.80
5
5.28%
52.80
6
5.28%
52.80
7
5.28%
52.80
8
5.28%
52.80
9
5.28%
52.80
10
5.28%
52.80
11
5.28%
52.80
12
5.28%
52.80
13
5.28%
52.80
14
5.28%
52.80
15
5.28%
52.80
16
5.28%
52.80
17
5.28%
52.80
18
2.88%
28.80
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
%
%
%
Rs Lakh
100%
40%
60%
400.00
60%
48.00%
12%
480.00
12%
9.60%
2.40%
96.00
2%
1.92%
0.48%
19.20
0%
0.38%
0.10%
3.84
0%
0.08%
0.02%
0.77
0%
0.02%
0.00%
0.15
0%
0.00%
0.00%
0.03
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
373.60
121.21
0.83
1.00
427.20
138.61
1.66
0.95
43.20
14.02
1.66
0.86
-33.60
-10.90
1.66
0.78
-48.96
-15.89
1.66
0.70
-52.03
-16.88
1.66
0.64
-52.65
-17.08
1.66
0.57
-52.77
-17.12
1.66
0.52
-52.79
-17.13
1.66
0.47
-52.80
-17.13
1.66
0.42
-52.80
-17.13
1.66
0.38
-52.80
-17.13
1.66
0.35
-52.80
-17.13
1.66
0.31
-52.80
-17.13
1.66
0.28
-52.80
-17.13
1.66
0.26
-52.80
-17.13
1.66
0.23
-52.80
-17.13
1.66
0.21
-28.80
-9.34
1.66
0.19
0.00
0.00
1.66
0.17
0.00
0.00
1.66
0.15
0.00
0.00
1.66
0.14
0.00
0.00
1.66
0.13
0.00
0.00
1.66
0.11
0.00
0.00
1.66
0.10
0.00
0.00
1.66
0.09
Levellised benefit
[Typetext]
1.04
Rs/Unit
Page149
[Typetext]
Page150
Annexure-6A
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
1
23.0%
10.0%
25
MW
%
%
Years
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
910
390
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
910.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
390.00
20.00%
10
24.00%
22.40%
10.62%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
2 Project Cost
Capital Cost/MW
1300
3 Sources of Fund
25
Debt: Equity
Debt Component
Equity Component
Financial Assumptions
Fiscal Assumptions
32.445%
20.000%
Yes
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
power plant (FY12-13)
Total O & M Expenses Escalation
[Typetext]
1
15%
2
Months
Months
12.80%
15.00
5.72%
Rs Lacs
%
Page151
[Typetext]
Page152
Discount Factor
Units Generation
Unit
Installed Capacity
Net Generation
MW
MU
Fixed Cost
Unit
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Year--->
Year--->
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
0.904
0.817
0.739
0.668
0.604
0.546
0.493
0.446
10
0.403
11
0.365
12
0.330
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
21
0.133
22
0.120
23
0.109
24
0.098
25
0.089
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
15.00
75.83
107.27
6.48
78.00
15.86
75.83
97.94
6.32
78.00
16.77
75.83
88.61
6.16
78.00
17.72
75.83
79.28
6.01
78.00
18.74
75.83
69.96
5.86
78.00
19.81
75.83
60.63
5.71
78.00
20.94
75.83
51.30
5.57
78.00
22.14
75.83
41.97
5.43
78.00
23.41
75.83
32.65
5.29
78.00
24.75
75.83
23.32
5.16
78.00
26.16
75.83
13.99
5.37
93.60
27.66
75.83
4.66
5.24
93.60
29.24
20.00
0.00
4.01
93.60
30.91
20.00
0.00
4.09
93.60
32.68
20.00
0.00
4.19
93.60
34.55
20.00
0.00
4.28
93.60
36.53
20.00
0.00
4.39
93.60
38.62
20.00
0.00
4.50
93.60
40.82
20.00
0.00
4.61
93.60
43.16
20.00
0.00
4.73
93.60
45.63
20.00
0.00
4.86
93.60
48.24
20.00
0.00
5.00
93.60
51.00
20.00
0.00
5.14
93.60
53.91
20.00
0.00
5.30
93.60
57.00
20.00
0.00
5.46
93.60
282.58
273.95
265.37
256.85
248.39
239.98
231.64
223.37
215.18
207.05
214.95
207.00
146.85
148.61
150.47
152.43
154.51
156.71
159.04
161.49
164.09
166.84
169.74
172.81
176.06
Levellised COG
Unit
Levellised
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Rs/kWh
1.32
0.83
0.87
0.92
0.98
1.03
1.09
1.15
1.22
1.29
1.36
1.44
1.53
1.61
1.70
1.80
1.91
2.01
2.13
2.25
2.38
2.52
2.66
2.81
2.97
3.14
Depreciation
Rs/kWh
3.45
4.18
4.18
4.18
4.18
4.18
4.18
4.18
4.18
4.18
4.18
4.18
4.18
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
Rs/kWh
2.82
5.92
5.40
4.89
4.37
3.86
3.34
2.83
2.31
1.80
1.29
0.77
0.26
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs/kWh
0.31
0.36
0.35
0.34
0.33
0.32
0.31
0.31
0.30
0.29
0.28
0.30
0.29
0.22
0.23
0.23
0.24
0.24
0.25
0.25
0.26
0.27
0.28
0.28
0.29
0.30
RoE
Total COG
Rs/kWh
Rs/kWh
4.57
4.30
4.30
4.30
4.30
4.30
4.30
4.30
4.30
4.30
4.30
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
5.16
12.46
15.58
15.11
14.63
14.16
13.70
13.23
12.77
12.32
11.87
11.42
11.85
11.42
8.10
8.20
8.30
8.41
8.52
8.64
8.77
8.91
9.05
9.20
9.36
9.53
9.71
Levellised Tariff
12.46
[Typetext]
Rs/Unit
Page153
Determination of Accelerated Depreciation Benefit for Solar Thermal Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.445%
1300.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
34.32
2
5.28%
68.64
3
5.28%
68.64
4
5.28%
68.64
5
5.28%
68.64
6
5.28%
68.64
7
5.28%
68.64
8
5.28%
68.64
9
5.28%
68.64
10
5.28%
68.64
11
5.28%
68.64
12
5.28%
68.64
13
5.28%
68.64
14
5.28%
68.64
15
5.28%
68.64
16
5.28%
68.64
17
5.28%
68.64
18
2.88%
37.44
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
520.00
60%
48.00%
12%
624.00
12%
9.60%
2.40%
124.80
2%
1.92%
0.48%
24.96
0%
0.38%
0.10%
4.99
0%
0.08%
0.02%
1.00
0%
0.02%
0.00%
0.20
0%
0.00%
0.00%
0.04
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
485.68
157.58
0.91
1.00
555.36
180.19
1.81
0.95
56.16
18.22
1.81
0.86
-43.68
-14.17
1.81
0.78
-63.65
-20.65
1.81
0.70
-67.64
-21.95
1.81
0.64
-68.44
-22.21
1.81
0.57
-68.60
-22.26
1.81
0.52
-68.63
-22.27
1.81
0.47
-68.64
-22.27
1.81
0.42
-68.64
-22.27
1.81
0.38
-68.64
-22.27
1.81
0.35
-68.64
-22.27
1.81
0.31
-68.64
-22.27
1.81
0.28
-68.64
-22.27
1.81
0.26
-68.64
-22.27
1.81
0.23
-68.64
-22.27
1.81
0.21
-37.44
-12.15
1.81
0.19
0.00
0.00
1.81
0.17
0.00
0.00
1.81
0.15
0.00
0.00
1.81
0.14
0.00
0.00
1.81
0.13
0.00
0.00
1.81
0.11
0.00
0.00
1.81
0.10
0.00
0.00
1.81
0.09
1.24
[Typetext]
Rs/Unit
Page154
[Typetext]
Page155
Annexure-7A
Select State
AP
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2315
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page156
Unit
MW
MU
MU
MU
Year--->
1
1
7.45
0.74
6.70
Fixed Cost
Unit
Year--->
1
O&M Expenses
Rs Lakh
40.00
Depreciation
Rs Lakh
23.33
Interest on term loan
Rs Lakh
33.01
Interest on working Capital
Rs Lakh
22.63
Return on Equity
Rs Lakh
24.00
Total Fixed Cost
Rs Lakh
142.97
2 13
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
1
Variable COG
Rs/kWh
3.22
4.54
O&M expn
Rs/kWh
0.89
0.60
Depreciation
Rs/kWh
0.31
0.35
Int. on term loan
Rs/kWh
0.49
0.25
Int. on working capital
Rs/kWh
0.46
0.34
RoE
Rs/kWh
0.38
0.36
Total COG
Rs/kWh
6.83
5.35
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
2
42.29
23.33
30.14
23.63
24.00
143.38
2 14
3
44.71
23.33
27.27
24.68
24.00
143.98
2 15
4
47.26
23.33
24.40
25.79
24.00
144.78
2 16
5
49.97
23.33
21.53
26.95
24.00
145.78
2 18
6
52.83
23.33
18.66
28.18
24.00
146.99
2 19
7
55.85
23.33
15.79
29.47
24.00
148.44
2 22
8
59.04
23.33
12.92
30.84
24.00
150.13
2 24
9
62.42
23.33
10.05
32.27
24.00
152.07
2 27
10
65.99
23.33
7.18
33.79
24.00
154.28
2 30
11
69.76
23.33
4.31
35.48
28.80
161.69
2 41
12
73.75
23.33
1.44
37.16
28.80
164.48
2 45
13
77.97
10.00
0.00
38.66
28.80
155.44
2 32
14
82.43
10.00
0.00
40.58
28.80
161.82
2 41
15
87.15
10.00
0.00
42.60
28.80
168.55
2 52
16
92.13
10.00
0.00
44.72
28.80
175.66
2 62
17
97.40
10.00
0.00
46.95
28.80
183.16
2 73
18
102.97
10.00
0.00
49.29
28.80
191.07
2 85
19
108.87
10.00
0.00
51.76
28.80
199.42
2 98
20
115.09
10.00
0.00
54.34
28.80
208.23
3 11
2
3.38
0.63
0.35
0.45
0.35
0.36
5.52
3
3.54
0.67
0.35
0.41
0.37
0.36
5.69
4
3.72
0.71
0.35
0.36
0.38
0.36
5.88
5
3.91
0.75
0.35
0.32
0.40
0.36
6.08
6
4.10
0.79
0.35
0.28
0.42
0.36
6.30
7
4.31
0.83
0.35
0.24
0.44
0.36
6.52
8
4.52
0.88
0.35
0.19
0.46
0.36
6.76
9
4.75
0.93
0.35
0.15
0.48
0.36
7.02
10
4.99
0.98
0.35
0.11
0.50
0.36
7.29
11
5.24
1.04
0.35
0.06
0.53
0.43
7.65
12
5.50
1.10
0.35
0.02
0.55
0.43
7.95
13
5.77
1.16
0.15
0.00
0.58
0.43
8.09
14
6.06
1.23
0.15
0.00
0.61
0.43
8.48
15
6.37
1.30
0.15
0.00
0.64
0.43
8.88
16
6.68
1.37
0.15
0.00
0.67
0.43
9.31
17
7.02
1.45
0.15
0.00
0.70
0.43
9.75
18
7.37
1.54
0.15
0.00
0.74
0.43
10.22
19
7.74
1.62
0.15
0.00
0.77
0.43
10.71
20
8.12
1.72
0.15
0.00
0.81
0.43
11.23
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
3.22 Rs/Kwh
2.29 Rs/Kwh
5.50 Rs/Kwh
13
0.298
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page157
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.11
(Rs/kWh)
Page158
[Typetext]
Page159
Annexure-7B
Select State
Harayana
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2635
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page160
Unit
MW
MU
MU
MU
Year--->
1
1
7.45
0.74
6.70
Fixed Cost
Unit
Year--->
1
O&M Expenses
Rs Lakh
40.00
Depreciation
Rs Lakh
23.33
Interest on term loan
Rs Lakh
33.01
Interest on working Capital
Rs Lakh
25.23
Return on Equity
Rs Lakh
24.00
Total Fixed Cost
Rs Lakh
145.57
2 17
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
1
Variable COG
Rs/kWh
5.16
3.66
O&M expn
Rs/kWh
0.60
0.89
Depreciation
Rs/kWh
0.35
0.31
Int. on term loan
Rs/kWh
0.25
0.49
Int. on working capital
Rs/kWh
0.38
0.52
RoE
Rs/kWh
0.36
0.38
Total COG
Rs/kWh
7.51
5.83
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
2
42.29
23.33
30.14
26.35
24.00
146.11
2 18
3
44.71
23.33
27.27
27.54
24.00
146.85
2 19
4
47.26
23.33
24.40
28.79
24.00
147.78
2 21
5
49.97
23.33
21.53
30.11
24.00
148.93
2 22
6
52.83
23.33
18.66
31.49
24.00
150.31
2 24
7
55.85
23.33
15.79
32.95
24.00
151.92
2 27
8
59.04
23.33
12.92
34.49
24.00
153.78
2 29
9
62.42
23.33
10.05
36.11
24.00
155.91
2 33
10
65.99
23.33
7.18
37.81
24.00
158.31
2 36
11
69.76
23.33
4.31
39.71
28.80
165.92
2 48
12
73.75
23.33
1.44
41.60
28.80
168.92
2 52
13
77.97
10.00
0.00
43.33
28.80
160.10
2 39
14
82.43
10.00
0.00
45.48
28.80
166.72
2 49
15
87.15
10.00
0.00
47.74
28.80
173.69
2 59
16
92.13
10.00
0.00
50.12
28.80
181.06
2 70
17
97.40
10.00
0.00
52.62
28.80
188.82
2 82
18
102.97
10.00
0.00
55.25
28.80
197.02
2 94
19
108.87
10.00
0.00
58.01
28.80
205.67
3 07
20
115.09
10.00
0.00
60.90
28.80
214.80
3 21
2
3.84
0.63
0.35
0.45
0.39
0.36
6.02
3
4.03
0.67
0.35
0.41
0.41
0.36
6.23
4
4.24
0.71
0.35
0.36
0.43
0.36
6.44
5
4.45
0.75
0.35
0.32
0.45
0.36
6.67
6
4.67
0.79
0.35
0.28
0.47
0.36
6.91
7
4.90
0.83
0.35
0.24
0.49
0.36
7.17
8
5.15
0.88
0.35
0.19
0.51
0.36
7.44
9
5.41
0.93
0.35
0.15
0.54
0.36
7.73
10
5.68
0.98
0.35
0.11
0.56
0.36
8.04
11
5.96
1.04
0.35
0.06
0.59
0.43
8.44
12
6.26
1.10
0.35
0.02
0.62
0.43
8.78
13
6.57
1.16
0.15
0.00
0.65
0.43
8.96
14
6.90
1.23
0.15
0.00
0.68
0.43
9.39
15
7.25
1.30
0.15
0.00
0.71
0.43
9.84
16
7.61
1.37
0.15
0.00
0.75
0.43
10.31
17
7.99
1.45
0.15
0.00
0.79
0.43
10.81
18
8.39
1.54
0.15
0.00
0.82
0.43
11.33
19
8.81
1.62
0.15
0.00
0.87
0.43
11.88
20
9.25
1.72
0.15
0.00
0.91
0.43
12.45
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.66 Rs/Kwh
2.34 Rs/Kwh
6.00 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page161
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.11
(Rs/kWh)
Page162
[Typetext]
Page163
Annexure-7C
Select State
Maharashtra
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2695
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page164
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
5.28
O&M expn
Rs/kWh
0.89
Depreciation
Rs/kWh
0.31
Int. on term loan
Rs/kWh
0.25
Int. on working capital
Rs/kWh
0.53
RoE
Rs/kWh
0.38
Total COG
Rs/kWh
7.63
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
7.45
0.74
6.70
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
1
40.00
23.33
33.01
25.72
24.00
146.05
2 18
2
42.29
23.33
30.14
26.87
24.00
146.62
2 19
3
44.71
23.33
27.27
28.08
24.00
147.38
2 20
4
47.26
23.33
24.40
29.36
24.00
148.35
2 21
5
49.97
23.33
21.53
30.70
24.00
149.53
2 23
6
52.83
23.33
18.66
32.12
24.00
150.93
2 25
7
55.85
23.33
15.79
33.61
24.00
152.57
2 28
8
59.04
23.33
12.92
35.18
24.00
154.47
2 31
9
62.42
23.33
10.05
36.83
24.00
156.63
2 34
10
65.99
23.33
7.18
38.57
24.00
159.07
2 37
11
69.76
23.33
4.31
40.51
28.80
166.71
2 49
12
73.75
23.33
1.44
42.43
28.80
169.76
2 53
13
77.97
10.00
0.00
44.20
28.80
160.98
2 40
14
82.43
10.00
0.00
46.40
28.80
167.63
2 50
15
87.15
10.00
0.00
48.71
28.80
174.66
2 61
16
92.13
10.00
0.00
51.13
28.80
182.07
2 72
17
97.40
10.00
0.00
53.68
28.80
189.89
2 83
18
102.97
10.00
0.00
56.36
28.80
198.14
2 96
19
108.87
10.00
0.00
59.18
28.80
206.84
3 09
20
115.09
10.00
0.00
62.13
28.80
216.03
3 22
1
3.74
0.60
0.35
0.49
0.38
0.36
5.92
2
3.93
0.63
0.35
0.45
0.40
0.36
6.12
3
4.13
0.67
0.35
0.41
0.42
0.36
6.33
4
4.33
0.71
0.35
0.36
0.44
0.36
6.55
5
4.55
0.75
0.35
0.32
0.46
0.36
6.78
6
4.78
0.79
0.35
0.28
0.48
0.36
7.03
7
5.02
0.83
0.35
0.24
0.50
0.36
7.29
8
5.27
0.88
0.35
0.19
0.52
0.36
7.57
9
5.53
0.93
0.35
0.15
0.55
0.36
7.87
10
5.81
0.98
0.35
0.11
0.58
0.36
8.18
11
6.10
1.04
0.35
0.06
0.60
0.43
8.58
12
6.40
1.10
0.35
0.02
0.63
0.43
8.94
13
6.72
1.16
0.15
0.00
0.66
0.43
9.12
14
7.06
1.23
0.15
0.00
0.69
0.43
9.56
15
7.41
1.30
0.15
0.00
0.73
0.43
10.02
16
7.78
1.37
0.15
0.00
0.76
0.43
10.50
17
8.17
1.45
0.15
0.00
0.80
0.43
11.00
18
8.58
1.54
0.15
0.00
0.84
0.43
11.54
19
9.01
1.62
0.15
0.00
0.88
0.43
12.09
20
9.46
1.72
0.15
0.00
0.93
0.43
12.68
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.74 Rs/Kwh
2.35 Rs/Kwh
6.10 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page165
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.11
(Rs/kWh)
[Typetext]
Page166
[Typetext]
Page167
Annexure-7D
Select State
Punjab
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2756
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page168
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
5.40
O&M expn
Rs/kWh
0.89
Depreciation
Rs/kWh
0.31
Int. on term loan
Rs/kWh
0.25
Int. on working capital
Rs/kWh
0.54
RoE
Rs/kWh
0.38
Total COG
Rs/kWh
7.76
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
7.45
0.74
6.70
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
1
40.00
23.33
33.01
26.21
24.00
146.55
2 19
2
42.29
23.33
30.14
27.39
24.00
147.14
2 20
3
44.71
23.33
27.27
28.62
24.00
147.93
2 21
4
47.26
23.33
24.40
29.93
24.00
148.92
2 22
5
49.97
23.33
21.53
31.30
24.00
150.13
2 24
6
52.83
23.33
18.66
32.75
24.00
151.56
2 26
7
55.85
23.33
15.79
34.27
24.00
153.24
2 29
8
59.04
23.33
12.92
35.87
24.00
155.16
2 32
9
62.42
23.33
10.05
37.56
24.00
157.36
2 35
10
65.99
23.33
7.18
39.34
24.00
159.84
2 39
11
69.76
23.33
4.31
41.31
28.80
167.51
2 50
12
73.75
23.33
1.44
43.28
28.80
170.60
2 55
13
77.97
10.00
0.00
45.09
28.80
161.87
2 42
14
82.43
10.00
0.00
47.33
28.80
168.57
2 52
15
87.15
10.00
0.00
49.69
28.80
175.64
2 62
16
92.13
10.00
0.00
52.16
28.80
183.10
2 73
17
97.40
10.00
0.00
54.76
28.80
190.97
2 85
18
102.97
10.00
0.00
57.50
28.80
199.27
2 97
19
108.87
10.00
0.00
60.37
28.80
208.03
3 10
20
115.09
10.00
0.00
63.39
28.80
217.28
3 24
1
3.83
0.60
0.35
0.49
0.39
0.36
6.01
2
4.02
0.63
0.35
0.45
0.41
0.36
6.21
3
4.22
0.67
0.35
0.41
0.43
0.36
6.43
4
4.43
0.71
0.35
0.36
0.45
0.36
6.65
5
4.65
0.75
0.35
0.32
0.47
0.36
6.89
6
4.89
0.79
0.35
0.28
0.49
0.36
7.15
7
5.13
0.83
0.35
0.24
0.51
0.36
7.42
8
5.39
0.88
0.35
0.19
0.54
0.36
7.70
9
5.66
0.93
0.35
0.15
0.56
0.36
8.00
10
5.94
0.98
0.35
0.11
0.59
0.36
8.32
11
6.24
1.04
0.35
0.06
0.62
0.43
8.73
12
6.55
1.10
0.35
0.02
0.65
0.43
9.09
13
6.87
1.16
0.15
0.00
0.67
0.43
9.29
14
7.22
1.23
0.15
0.00
0.71
0.43
9.73
15
7.58
1.30
0.15
0.00
0.74
0.43
10.20
16
7.96
1.37
0.15
0.00
0.78
0.43
10.69
17
8.36
1.45
0.15
0.00
0.82
0.43
11.21
18
8.77
1.54
0.15
0.00
0.86
0.43
11.75
19
9.21
1.62
0.15
0.00
0.90
0.43
12.32
20
9.67
1.72
0.15
0.00
0.95
0.43
12.91
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.83 Rs/Kwh
2.36 Rs/Kwh
6.19 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page169
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.11
(Rs/kWh)
[Typetext]
Page170
[Typetext]
Page171
Annexure-7E
Select State
Rajasthan
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2300
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page172
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.51
O&M expn
Rs/kWh
0.89
Depreciation
Rs/kWh
0.31
Int. on term loan
Rs/kWh
0.25
Int. on working capital
Rs/kWh
0.46
RoE
Rs/kWh
0.38
Total COG
Rs/kWh
6.79
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
7.45
0.74
6.70
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
1
40.00
23.33
33.01
22.51
24.00
142.85
2 13
2
42.29
23.33
30.14
23.50
24.00
143.26
2 14
3
44.71
23.33
27.27
24.54
24.00
143.85
2 15
4
47.26
23.33
24.40
25.64
24.00
144.64
2 16
5
49.97
23.33
21.53
26.80
24.00
145.63
2 17
6
52.83
23.33
18.66
28.02
24.00
146.84
2 19
7
55.85
23.33
15.79
29.31
24.00
148.28
2 21
8
59.04
23.33
12.92
30.67
24.00
149.96
2 24
9
62.42
23.33
10.05
32.09
24.00
151.89
2 27
10
65.99
23.33
7.18
33.60
24.00
154.09
2 30
11
69.76
23.33
4.31
35.28
28.80
161.49
2 41
12
73.75
23.33
1.44
36.95
28.80
164.27
2 45
13
77.97
10.00
0.00
38.45
28.80
155.22
2 32
14
82.43
10.00
0.00
40.36
28.80
161.59
2 41
15
87.15
10.00
0.00
42.36
28.80
168.31
2 51
16
92.13
10.00
0.00
44.47
28.80
175.40
2 62
17
97.40
10.00
0.00
46.69
28.80
182.89
2 73
18
102.97
10.00
0.00
49.02
28.80
190.79
2 85
19
108.87
10.00
0.00
51.46
28.80
199.13
2 97
20
115.09
10.00
0.00
54.03
28.80
207.93
3 10
1
3.19
0.60
0.35
0.49
0.34
0.36
5.33
2
3.35
0.63
0.35
0.45
0.35
0.36
5.49
3
3.52
0.67
0.35
0.41
0.37
0.36
5.67
4
3.70
0.71
0.35
0.36
0.38
0.36
5.86
5
3.88
0.75
0.35
0.32
0.40
0.36
6.06
6
4.08
0.79
0.35
0.28
0.42
0.36
6.27
7
4.28
0.83
0.35
0.24
0.44
0.36
6.49
8
4.49
0.88
0.35
0.19
0.46
0.36
6.73
9
4.72
0.93
0.35
0.15
0.48
0.36
6.99
10
4.96
0.98
0.35
0.11
0.50
0.36
7.26
11
5.20
1.04
0.35
0.06
0.53
0.43
7.61
12
5.46
1.10
0.35
0.02
0.55
0.43
7.91
13
5.74
1.16
0.15
0.00
0.57
0.43
8.05
14
6.02
1.23
0.15
0.00
0.60
0.43
8.43
15
6.32
1.30
0.15
0.00
0.63
0.43
8.84
16
6.64
1.37
0.15
0.00
0.66
0.43
9.26
17
6.97
1.45
0.15
0.00
0.70
0.43
9.70
18
7.32
1.54
0.15
0.00
0.73
0.43
10.17
19
7.69
1.62
0.15
0.00
0.77
0.43
10.66
20
8.07
1.72
0.15
0.00
0.81
0.43
11.17
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.19 Rs/Kwh
2.29 Rs/Kwh
5.48 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page173
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.11
(Rs/kWh)
[Typetext]
Page174
[Typetext]
Page175
Annexure-7F
Select State
TN
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2277
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page176
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.46
O&M expn
Rs/kWh
0.89
Depreciation
Rs/kWh
0.31
Int. on term loan
Rs/kWh
0.25
Int. on working capital
Rs/kWh
0.46
RoE
Rs/kWh
0.38
Total COG
Rs/kWh
6.74
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
7.45
0.74
6.70
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
1
40.00
23.33
33.01
22.32
24.00
142.66
2 13
2
42.29
23.33
30.14
23.30
24.00
143.06
2 13
3
44.71
23.33
27.27
24.34
24.00
143.64
2 14
4
47.26
23.33
24.40
25.43
24.00
144.42
2 16
5
49.97
23.33
21.53
26.58
24.00
145.40
2 17
6
52.83
23.33
18.66
27.79
24.00
146.60
2 19
7
55.85
23.33
15.79
29.06
24.00
148.03
2 21
8
59.04
23.33
12.92
30.40
24.00
149.69
2 23
9
62.42
23.33
10.05
31.82
24.00
151.62
2 26
10
65.99
23.33
7.18
33.31
24.00
153.81
2 30
11
69.76
23.33
4.31
34.98
28.80
161.18
2 41
12
73.75
23.33
1.44
36.63
28.80
163.95
2 45
13
77.97
10.00
0.00
38.11
28.80
154.88
2 31
14
82.43
10.00
0.00
40.00
28.80
161.24
2 41
15
87.15
10.00
0.00
41.99
28.80
167.94
2 51
16
92.13
10.00
0.00
44.08
28.80
175.02
2 61
17
97.40
10.00
0.00
46.28
28.80
182.48
2 72
18
102.97
10.00
0.00
48.59
28.80
190.36
2 84
19
108.87
10.00
0.00
51.01
28.80
198.68
2 96
20
115.09
10.00
0.00
53.56
28.80
207.45
3 10
1
3.16
0.60
0.35
0.49
0.33
0.36
5.29
2
3.32
0.63
0.35
0.45
0.35
0.36
5.46
3
3.49
0.67
0.35
0.41
0.36
0.36
5.63
4
3.66
0.71
0.35
0.36
0.38
0.36
5.82
5
3.84
0.75
0.35
0.32
0.40
0.36
6.01
6
4.04
0.79
0.35
0.28
0.41
0.36
6.22
7
4.24
0.83
0.35
0.24
0.43
0.36
6.45
8
4.45
0.88
0.35
0.19
0.45
0.36
6.68
9
4.67
0.93
0.35
0.15
0.47
0.36
6.93
10
4.91
0.98
0.35
0.11
0.50
0.36
7.20
11
5.15
1.04
0.35
0.06
0.52
0.43
7.56
12
5.41
1.10
0.35
0.02
0.55
0.43
7.86
13
5.68
1.16
0.15
0.00
0.57
0.43
7.99
14
5.96
1.23
0.15
0.00
0.60
0.43
8.37
15
6.26
1.30
0.15
0.00
0.63
0.43
8.77
16
6.57
1.37
0.15
0.00
0.66
0.43
9.19
17
6.90
1.45
0.15
0.00
0.69
0.43
9.63
18
7.25
1.54
0.15
0.00
0.73
0.43
10.09
19
7.61
1.62
0.15
0.00
0.76
0.43
10.58
20
7.99
1.72
0.15
0.00
0.80
0.43
11.09
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.16 Rs/Kwh
2.28 Rs/Kwh
5.44 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page177
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.11
(Rs/kWh)
[Typetext]
Page178
[Typetext]
Page179
Annexure-7G
Select State
UP
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2355
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page180
Unit
MW
MU
MU
MU
Year--->
1
1
7.45
0.74
6.70
Fixed Cost
Unit
Year--->
1
O&M Expenses
Rs Lakh
40.00
Depreciation
Rs Lakh
23.33
Interest on term loan
Rs Lakh
33.01
Interest on working Capital
Rs Lakh
22.96
Return on Equity
Rs Lakh
24.00
Total Fixed Cost
Rs Lakh
143.29
2 14
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
1
Variable COG
Rs/kWh
3.27
4.62
O&M expn
Rs/kWh
0.60
0.89
Depreciation
Rs/kWh
0.35
0.31
Int. on term loan
Rs/kWh
0.49
0.25
Int. on working capital
Rs/kWh
0.34
0.47
RoE
Rs/kWh
0.38
0.36
Total COG
Rs/kWh
6.91
5.41
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
2
42.29
23.33
30.14
23.97
24.00
143.73
2 14
3
44.71
23.33
27.27
25.04
24.00
144.34
2 15
4
47.26
23.33
24.40
26.16
24.00
145.15
2 17
5
49.97
23.33
21.53
27.35
24.00
146.17
2 18
6
52.83
23.33
18.66
28.59
24.00
147.41
2 20
7
55.85
23.33
15.79
29.91
24.00
148.88
2 22
8
59.04
23.33
12.92
31.29
24.00
150.58
2 25
9
62.42
23.33
10.05
32.75
24.00
152.55
2 28
10
65.99
23.33
7.18
34.29
24.00
154.79
2 31
11
69.76
23.33
4.31
36.01
28.80
162.21
2 42
12
73.75
23.33
1.44
37.71
28.80
165.04
2 46
13
77.97
10.00
0.00
39.25
28.80
156.02
2 33
14
82.43
10.00
0.00
41.20
28.80
162.43
2 42
15
87.15
10.00
0.00
43.25
28.80
169.19
2 52
16
92.13
10.00
0.00
45.40
28.80
176.33
2 63
17
97.40
10.00
0.00
47.66
28.80
183.86
2 74
18
102.97
10.00
0.00
50.04
28.80
191.81
2 86
19
108.87
10.00
0.00
52.54
28.80
200.20
2 99
20
115.09
10.00
0.00
55.16
28.80
209.05
3 12
2
3.43
0.63
0.35
0.45
0.36
0.36
5.58
3
3.61
0.67
0.35
0.41
0.37
0.36
5.76
4
3.79
0.71
0.35
0.36
0.39
0.36
5.95
5
3.98
0.75
0.35
0.32
0.41
0.36
6.16
6
4.17
0.79
0.35
0.28
0.43
0.36
6.37
7
4.38
0.83
0.35
0.24
0.45
0.36
6.60
8
4.60
0.88
0.35
0.19
0.47
0.36
6.85
9
4.83
0.93
0.35
0.15
0.49
0.36
7.11
10
5.07
0.98
0.35
0.11
0.51
0.36
7.38
11
5.33
1.04
0.35
0.06
0.54
0.43
7.75
12
5.59
1.10
0.35
0.02
0.56
0.43
8.06
13
5.87
1.16
0.15
0.00
0.59
0.43
8.20
14
6.17
1.23
0.15
0.00
0.61
0.43
8.59
15
6.48
1.30
0.15
0.00
0.65
0.43
9.00
16
6.80
1.37
0.15
0.00
0.68
0.43
9.43
17
7.14
1.45
0.15
0.00
0.71
0.43
9.88
18
7.50
1.54
0.15
0.00
0.75
0.43
10.36
19
7.87
1.62
0.15
0.00
0.78
0.43
10.86
20
8.27
1.72
0.15
0.00
0.82
0.43
11.38
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.27 Rs/Kwh
2.29 Rs/Kwh
5.57 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page181
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.11
(Rs/kWh)
[Typetext]
Page182
[Typetext]
Page183
Annexure-7H
Select State
Others
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Installed Power Generation Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(Stablization for 6 months)
PLF(during first year after Stablization)
PLF(second year onwards)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
85%
85%
85%
20
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
280.00
120.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
280.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
120.00
20.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
400.00
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
kg/kWh
1.25
Base Price
Rs/T
2476
GCV - Biomass
Biomass Price Escalation Factor
Kcal/kg
Biomass
[Typetext]
3300
5.00%
40.00
5.72%
Page184
Unit
MW
MU
MU
MU
Year--->
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.85
O&M expn
Rs/kWh
0.89
Depreciation
Rs/kWh
0.31
Int. on term loan
Rs/kWh
0.25
Int. on working capital
Rs/kWh
0.49
RoE
Rs/kWh
0.38
Total COG
Rs/kWh
7.17
Levellised Tariff
Discount Factor
Variable Cost
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
7.45
0.74
6.70
2
1
7.45
0.74
6.70
3
1
7.45
0.74
6.70
4
1
7.45
0.74
6.70
5
1
7.45
0.74
6.70
6
1
7.45
0.74
6.70
7
1
7.45
0.74
6.70
8
1
7.45
0.74
6.70
9
1
7.45
0.74
6.70
10
1
7.45
0.74
6.70
11
1
7.45
0.74
6.70
12
1
7.45
0.74
6.70
13
1
7.45
0.74
6.70
14
1
7.45
0.74
6.70
15
1
7.45
0.74
6.70
16
1
7.45
0.74
6.70
17
1
7.45
0.74
6.70
18
1
7.45
0.74
6.70
19
1
7.45
0.74
6.70
20
1
7.45
0.74
6.70
1
40.00
23.33
33.01
23.94
24.00
144.28
2 15
2
42.29
23.33
30.14
25.00
24.00
144.76
2 16
3
44.71
23.33
27.27
26.12
24.00
145.43
2 17
4
47.26
23.33
24.40
27.30
24.00
146.29
2 18
5
49.97
23.33
21.53
28.54
24.00
147.37
2 20
6
52.83
23.33
18.66
29.85
24.00
148.66
2 22
7
55.85
23.33
15.79
31.23
24.00
150.19
2 24
8
59.04
23.33
12.92
32.68
24.00
151.97
2 27
9
62.42
23.33
10.05
34.21
24.00
154.00
2 30
10
65.99
23.33
7.18
35.81
24.00
156.31
2 33
11
69.76
23.33
4.31
37.61
28.80
163.82
2 44
12
73.75
23.33
1.44
39.40
28.80
166.72
2 49
13
77.97
10.00
0.00
41.01
28.80
157.79
2 35
14
82.43
10.00
0.00
43.05
28.80
164.28
2 45
15
87.15
10.00
0.00
45.19
28.80
171.14
2 55
16
92.13
10.00
0.00
47.44
28.80
178.38
2 66
17
97.40
10.00
0.00
49.81
28.80
186.01
2 78
18
102.97
10.00
0.00
52.29
28.80
194.07
2 90
19
108.87
10.00
0.00
54.90
28.80
202.57
3 02
20
115.09
10.00
0.00
57.65
28.80
211.54
3 16
1
3.44
0.60
0.35
0.49
0.36
0.36
5.59
2
3.61
0.63
0.35
0.45
0.37
0.36
5.77
3
3.79
0.67
0.35
0.41
0.39
0.36
5.96
4
3.98
0.71
0.35
0.36
0.41
0.36
6.16
5
4.18
0.75
0.35
0.32
0.43
0.36
6.38
6
4.39
0.79
0.35
0.28
0.45
0.36
6.61
7
4.61
0.83
0.35
0.24
0.47
0.36
6.85
8
4.84
0.88
0.35
0.19
0.49
0.36
7.11
9
5.08
0.93
0.35
0.15
0.51
0.36
7.38
10
5.34
0.98
0.35
0.11
0.53
0.36
7.67
11
5.60
1.04
0.35
0.06
0.56
0.43
8.05
12
5.88
1.10
0.35
0.02
0.59
0.43
8.37
13
6.18
1.16
0.15
0.00
0.61
0.43
8.53
14
6.48
1.23
0.15
0.00
0.64
0.43
8.94
15
6.81
1.30
0.15
0.00
0.67
0.43
9.36
16
7.15
1.37
0.15
0.00
0.71
0.43
9.81
17
7.51
1.45
0.15
0.00
0.74
0.43
10.28
18
7.88
1.54
0.15
0.00
0.78
0.43
10.78
19
8.28
1.62
0.15
0.00
0.82
0.43
11.30
20
8.69
1.72
0.15
0.00
0.86
0.43
11.85
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.44 Rs/Kwh
2.32 Rs/Kwh
5.75 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page185
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
400.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
10.56
2
5.28%
21.12
3
5.28%
21.12
4
5.28%
21.12
5
5.28%
21.12
6
5.28%
21.12
7
5.28%
21.12
8
5.28%
21.12
9
5.28%
21.12
10
5.28%
21.12
11
5.28%
21.12
12
5.28%
21.12
13
5.28%
21.12
14
5.28%
21.12
15
5.28%
21.12
16
5.28%
21.12
17
5.28%
21.12
18
2.88%
11.52
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
160.00
60%
48.00%
12%
192.00
12%
9.60%
2.40%
38.40
2%
1.92%
0.48%
7.68
0%
0.38%
0.10%
1.54
0%
0.08%
0.02%
0.31
0%
0.02%
0.00%
0.06
0%
0.00%
0.00%
0.01
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
149.44
48.49
3.35
1.45
170.88
55.44
6.70
0.83
17.28
5.61
6.70
0.08
-13.44
-4.36
6.70
-0.07
-19.58
-6.35
6.70
-0.09
-20.81
-6.75
6.70
-0.10
-21.06
-6.83
6.70
-0.10
-21.11
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-21.12
-6.85
6.70
-0.10
-11.52
-3.74
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
1.00
0.95
0.86
0.78
0.70
0.64
0.57
0.52
0.47
0.42
0.38
0.35
0.31
0.28
0.26
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
[Typetext]
0.11
(Rs/kWh)
Page186
Annexure-8A
Sub-Head
Sub-Head (2)
Unit
Assumptions
MW
%
%
Years
Rs Lacs/MW
Rs Lacs/MW
1
12%
90%
20
1100
800
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
560.00
240.00
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
560.00
0
12
12.30%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
240.00
20.00%
10.00
24.00%
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
22.00%
10.62%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
%
%
32.445%
20.0%
Yes
Depreciation
5.83%
2.50%
12.00
5 Working Capital
Months
Months
1
15%
2
Months
%
4
12.80%
Biomass
Base Price(FY11-12)
Rs/T
kg/kWh
[Typetext]
990
3
5.00%
40.00
5.72%
Page187
Vaiable Cost
Biomass Cost
Unit
MW
MU
MU
MU
Year--->
1
1
7.88
0.95
6.94
2
1
7.88
0.95
6.94
3
1
7.88
0.95
6.94
4
1
7.88
0.95
6.94
5
1
7.88
0.95
6.94
6
1
7.88
0.95
6.94
7
1
7.88
0.95
6.94
8
1
7.88
0.95
6.94
9
1
7.88
0.95
6.94
10
1
7.88
0.95
6.94
11
1
7.88
0.95
6.94
12
1
7.88
0.95
6.94
13
1
7.88
0.95
6.94
14
1
7.88
0.95
6.94
15
1
7.88
0.95
6.94
16
1
7.88
0.95
6.94
17
1
7.88
0.95
6.94
18
1
7.88
0.95
6.94
19
1
7.88
0.95
6.94
20
1
7.88
0.95
6.94
Unit
Rs Lakh
Year--->
1
234.15
3 38
2
245.86
3 54
3
258.16
3 72
4
271.06
3 91
5
284.62
4 10
6
298.85
4 31
7
313.79
4 52
8
329.48
4 75
9
345.95
4 99
10
363.25
5 24
11
381.41
5 50
12
400.48
5 77
13
420.51
6 06
14
441.53
6 36
15
463.61
6 68
16
486.79
7 02
17
511.13
7 37
18
536.69
7 74
19
563.52
8 12
20
591.70
8 53
1
40.00
46.67
66.01
20.91
48.00
221.58
3.19
2
42.29
46.67
60.27
21.67
48.00
218.89
3.16
3
44.71
46.67
54.53
22.47
48.00
216.38
3.12
4
47.26
46.67
48.79
23.33
48.00
214.05
3.09
5
49.97
46.67
43.05
24.23
48.00
211.91
3.05
6
52.83
46.67
37.31
25.18
48.00
209.99
3.03
7
55.85
46.67
31.57
26.19
48.00
208.28
3.00
8
59.04
46.67
25.83
27.26
48.00
206.80
2.98
9
62.42
46.67
20.09
28.39
48.00
205.57
2.96
10
65.99
46.67
14.35
29.58
48.00
204.59
2.95
11
69.76
46.67
8.61
31.05
57.60
213.69
3.08
12
73.75
46.67
2.87
32.38
57.60
213.27
3.07
13
77.97
20.00
0.00
33.27
57.60
188.84
2.72
14
82.43
20.00
0.00
34.88
57.60
194.91
2.81
15
87.15
20.00
0.00
36.57
57.60
201.32
2.90
16
92.13
20.00
0.00
38.35
57.60
208.08
3.00
17
97.40
20.00
0.00
40.21
57.60
215.22
3.10
18
102.97
20.00
0.00
42.18
57.60
222.75
3.21
19
108.87
20.00
0.00
44.24
57.60
230.70
3.33
20
115.09
20.00
0.00
46.41
57.60
239.10
3.45
1
3.38
0.58
0.67
0.95
0.30
0.69
6.57
2
3.54
0.61
0.67
0.87
0.31
0.69
6.70
3
3.72
0.64
0.67
0.79
0.32
0.69
6.84
4
3.91
0.68
0.67
0.70
0.34
0.69
6.99
5
4.10
0.72
0.67
0.62
0.35
0.69
7.16
6
4.31
0.76
0.67
0.54
0.36
0.69
7.33
7
4.52
0.80
0.67
0.46
0.38
0.69
7.52
8
4.75
0.85
0.67
0.37
0.39
0.69
7.73
9
4.99
0.90
0.67
0.29
0.41
0.69
7.95
10
5.24
0.95
0.67
0.21
0.43
0.69
8.18
11
5.50
1.01
0.67
0.12
0.45
0.83
8.58
12
5.77
1.06
0.67
0.04
0.47
0.83
8.85
13
6.06
1.12
0.29
0.00
0.48
0.83
8.78
14
6.36
1.19
0.29
0.00
0.50
0.83
9.17
15
6.68
1.26
0.29
0.00
0.53
0.83
9.58
16
7.02
1.33
0.29
0.00
0.55
0.83
10.02
17
7.37
1.40
0.29
0.00
0.58
0.83
10.47
18
7.74
1.48
0.29
0.00
0.61
0.83
10.95
19
8.12
1.57
0.29
0.00
0.64
0.83
11.45
20
8.53
1.66
0.29
0.00
0.67
0.83
11.97
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Interest on term loan
Rs Lakh
Interest on working Capital
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
Variable COG
Rs/kWh
4.76
O&M expn
Rs/kWh
0.86
Depreciation
Rs/kWh
0.60
Int. on term loan
Rs/kWh
0.48
Int. on working capital
Rs/kWh
0.40
RoE
Rs/kWh
0.73
Total COG
Rs/kWh
7.83
Levellised Tariff
Discount Factor
Variable Cost (FY2012-13)
Levellised Tariff (Fixed)
Applicable Tariff (FY2012-13 )
[Typetext]
Unit
Year -->
1
1
2
0.904
3
0.817
4
0.739
5
0.668
6
0.604
7
0.546
8
0.493
9
0.446
10
0.403
11
0.365
12
0.330
13
0.298
3.38 Rs/Kwh
3.06 Rs/Kwh
6.44 Rs/Kwh
14
0.269
15
0.244
16
0.220
17
0.199
18
0.180
19
0.163
20
0.147
Page188
Determination of Accelerated Depreciation for Biogas Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Income Tax (MAT)
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.000%
32.45%
800.0
5.28%
80%
32%
800
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
21.12
2
5.28%
42.24
3
5.28%
42.24
4
5.28%
42.24
5
5.28%
42.24
6
5.28%
42.24
7
5.28%
42.24
8
5.28%
42.24
9
5.28%
42.24
10
5.28%
42.24
11
5.28%
42.24
12
5.28%
42.24
13
5.28%
42.24
14
5.28%
42.24
15
5.28%
42.24
16
5.28%
42.24
17
5.28%
42.24
18
2.88%
23.04
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
320.00
60%
48.00%
12%
384.00
12%
9.60%
2.40%
76.80
2%
1.92%
0.48%
15.36
0%
0.38%
0.10%
3.07
0%
0.08%
0.02%
0.61
0%
0.02%
0.00%
0.12
0%
0.00%
0.00%
0.02
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
298.88
96.97
3.47
2.80
1.00
341.76
110.88
6.94
1.60
0.95
34.56
11.21
6.94
0.16
0.86
-26.88
-8.72
6.94
-0.13
0.78
-39.17
-12.71
6.94
-0.18
0.70
-41.63
-13.51
6.94
-0.19
0.64
-42.12
-13.66
6.94
-0.20
0.57
-42.22
-13.70
6.94
-0.20
0.52
-42.24
-13.70
6.94
-0.20
0.47
-42.24
-13.70
6.94
-0.20
0.42
-42.24
-13.70
6.94
-0.20
0.38
-42.24
-13.70
6.94
-0.20
0.35
-42.24
-13.70
6.94
-0.20
0.31
-42.24
-13.70
6.94
-0.20
0.28
-42.24
-13.70
6.94
-0.20
0.26
-42.24
-13.70
6.94
-0.20
0.23
-42.24
-13.70
6.94
-0.20
0.21
-23.04
-7.48
6.94
-0.11
0.19
0.00
0.00
6.94
0.00
0.17
0.00
0.00
6.94
0.00
0.15
[Typetext]
13.91
6.57
(Rs/kWh)
0.21
Page189