CENTRAL ELECTRICITY REGULATORY COMMISSION
NEW DELHI
Petition No. SM/03/2016 (Suo-Motu)
Coram:1.Shri Gireesh B. Pradhan, Chairperson
2. Shri A. K. Singhal, Member
3. Shri A. S. Bakshi, Member
4. Shri M. K. Iyer, Member
Date of Order: 30th March 2016
IN THE MATTER OF
Determination of levellised generic tariff for FY 2016-17 under Regulation 8 of
the Central Electricity Regulatory Commission (Terms and Conditions for Tariff
determination from Renewable Energy Sources) Regulations, 2012.
ORDER
1. The Commission has notified the Central Electricity Regulatory Commission (Terms
and Conditions for Tariff determination from Renewable Energy Sources)
Regulations, 2012, on 06.02.2012 (hereinafter referred to as “the RE Tariff
Regulations”), which provide for terms and conditions and the procedure for
determination of tariff of the following categories of Renewable Energy (RE)
generating stations:
(a) Wind Power Project;
(b) Small Hydro Projects;
(c)Biomass Power Projects with Rankine Cycle technology;
(d) Non-fossil fuel-based co-generation Plants;
(e)Solar Photo Voltaic (PV)Projects;
(f) Solar Thermal Power Projects;
(g) Biomass Gasifier based Power Projects; and
(h) Biogas based Power Project.
2.
The Commission, in the meanwhile, has notified the Central Electricity
Regulatory Commission (Terms and Conditions for Tariff determination from
Renewable Energy Sources) (First Amendment) Regulations, 2014 (hereinafter referred
1
to as “the RE Tariff (First Amendment) Regulations”), on 18.03.2014, wherein, various
technical norms of Biomass Power Projects with Rankine Cycle technology have been
amended. These norms are effective from the notification of the First Amendment
Regulations.
3.
The Commission, in the meanwhile, has notified the Central Electricity
Regulatory Commission (Terms and Conditions for Tariff determination from
Renewable Energy Sources) (Second Amendment) Regulations, 2014 (hereinafter
referred to as “the RE Tariff (Second Amendment) Regulations”), on 5.01.2015,
wherein, the use of fossil fuels in biomass power plants has been limited to the extent
of 15% in terms of calorific value on annual basis, till 31.03.2017.
4.
The Commission, in the meanwhile, has notified the Central Electricity
Regulatory Commission (Terms and Conditions for Tariff determination from
Renewable Energy Sources) (Third Amendment) Regulations, 2014 (hereinafter referred
to as “the RE Tariff (Third Amendment) Regulations”), on 10.07.2015, wherein, Station
Heat Rate and calorific value of the fuel used for biomass power projects using fossil
fuel upto 15 % have been defined.
5.
The Commission, has notified the Central Electricity Regulatory Commission
(Terms and Conditions for Tariff determination from Renewable Energy Sources)
(Fourth Amendment) Regulations, 2015, on 7.10.2015 wherein, various technical norms
of Waste to Energy (viz Municipal Solid Waste (MSW) and Refuse Derived Fuel (RDF)
were specified. The Commission is of the opinion that not much time has lapsed since
the notification of the regulations, therefore it is prudent to fix the capital cost and
tariff of such projects once more data is available with the Commission. Therefore, the
Commission has decided to issue the tariff Order for MSW / RDF projects separately, till
such time it is proposed that the Tariff as per order dated 7.10.2015 shall continue to
be in force.
6.
The Commission, has notified the Central Electricity Regulatory Commission
(Terms and Conditions for Tariff determination from Renewable Energy Sources) (Fifth
Amendment) Regulations, 2016, on 30.03.2016 wherein, Operation and Maintenance
2
expenses for Solar PV projects for FY 2016-17 have been specified.
7.
The Regulations enjoin upon the Commission to determine the generic tariff on
the basis of the suo-motu petition, for the RE technologies for which norms have been
provided in the RE Tariff Regulations. Generic Tariff is different from the project specific
tariff for which a project developer has to file petition before the Commission as per
the format provided in the RE Tariff Regulations. Pertinently, project specific tariff has
been envisaged for the new RE technologies and the technologies which are still at the
nascent stage of development, and the Commission shall determine the project specific
tariff for such technologies on a case to case basis.
8.
Clause (1) of Regulation 8 of the RE Tariff Regulations provides that “the
Commission shall determine the generic tariff on the basis of suo-motu petition at the
beginning of each year of the Control period for renewable energy technologies for
which norms have been specified under the Regulations”.
9.
The Commission has notified the RE Tariff Regulations on 06.02.2012 and
subsequently issued generic suo‐motu tariff orders, which were applicable for the
renewable energy projects to be commissioned during first, second, third and fourth
year of the control period (i.e. FY2012-13, FY 2013-14 ,FY 2014-15 and FY-2015-16)."
10.
The Commission, in due discharge of the mandate under Regulation 8(1) of the
RE Tariff Regulations proposes to determine the generic tariff of the RE projects for the
fifth year of control period (i.e. FY 2016-17) as per the proposal enclosed as Annexure‐I.
11.
Comments / suggestions of the stakeholders on the above proposal are invited
by 11th April 2016. A public hearing on the above proposal will be held on 12th April
2016 at 2:30 P.M.
Sd/[M. K. Iyer]
MEMBER
Sd/-
Sd/-
[A. S. Bakshi]
[A. K. Singhal]
MEMBER
MEMBER
Sd/[GIREESH B. PRADHAN]
CHAIRPERSON
New Delhi
Dated
3
ANNEXURE-I
THE PROPOSED LEVELLISED GENERIC TARIFF FOR VARIOUS RENEWABLEENERGY
TECHNOLOGIES FOR FY 2016-17
1. The proposed levellised generic tariffs for various renewable energy technologies, for
FY 2016-17 are discussed below:
USEFUL LIFE
2. Clause (aa) of sub-Regulation (1) of Regulation 2 of the RE Tariff Regulations defines
‘useful life’ in relation to a unit of a generating station (including evacuation system)
to mean the following duration from the date of commercial operation (COD) of such
generation facility:
Renewable Energy Projects
Years
Wind energy
25
Small Hydro
35
Biomass power project with Rankine Cycle technology
20
Non-fossil fuel based co-generation
20
Solar PV
25
Solar Thermal
25
Biomass Gasifier
20
Biogas
20
Municipal Solid Waste
20
CONTROL PERIOD.
3. Regulation 5 of the RE Tariff Regulations provides that the control period for
determination of tariff for renewable energy projects (RE projects) shall be of five
years of which the first year of the control period was FY 2012-13. The Provision to the
said regulation stipulates that the tariff determined for the RE projects commissioned
during the control period shall continue to be applicable for the entire duration of the
tariff period as specified in Regulation 6 of the RE Tariff Regulations. Accordingly, the
tariff determined for FY 2016-17 is for the last year of the control period.
TARIFF PERIOD
4
4. In terms of Regulation 6 of the RE Tariff Regulations, the tariff period in respect of the
RE projects is as under:
Renewable Energy Projects
Years
Wind energy
13*
Small Hydro below 5 MW
35
Small Hydro (5 MW -25 MW)
13*
Biomass
13*
Non-fossil fuel co-generation
13*
Solar PV and Solar Thermal
25
Biomass Gasifier and Biogas
20
* The RE Tariff Regulations provides for a minimum period of thirteen (13)years.
5. 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
tariff determined under the regulations shall be applicable for the duration of the
tariff period.
TARIFF STRUCTURE.
6. Clause (1) of Regulation 9 of the RE Regulations stipulates that the tariff for RE
projects shall be single part tariff consisting of the following fixed cost components:
a.
b.
c.
d.
e.
Return on equity;
Interest on loan capital;
Depreciation;
Interest on working capital;
Operation and maintenance expenses;
For renewable energy technologies having fuel cost component, such as biomass
power projects and non-fossil fuel based cogeneration, single part tariff with two
components i.e. fixed cost component and fuel cost component, is to be determined.
TARIFF DESIGN
7. In terms of Regulation 10 of the RE Tariff Regulations, the tariff design for renewable
energy generating stations is as under:
1) The generic tariff shall be determined on levellised basis for the Tariff Period.
Provided that for renewable energy technologies having single part tariff with
two components, tariff shall be determined on levellised basis considering the
5
year of commissioning of the project for fixed cost component while the fuel
cost component shall be specified on year of operation basis.
2) For the purpose of levellised tariff computation, the discount factor equivalent
to Post Tax weighted average cost of capital shall be considered.
3) Levellisation shall be carried out for the ‘useful life’ of the Renewable Energy
project while Tariff shall be specified for the period equivalent to Tariff Period.”
LEVELLISED TARIFF
8. Levellised Tariff is calculated by carrying out levellisation for ‘useful life’ of each
technology considering the discount factor for time value of money.
DISCOUNT FACTOR
9. In accordance with Regulation 10(2) of RE tariff regulation, the discount factor
considered for this exercise is equal to the post tax weighted average cost of the
capital on the basis of normative debt: equity ratio (70:30) specified in the
Regulations. Considering the normative debt equity ratio and weighted average of the
post tax rates for interest and equity component, the discount factor is calculated.
Interest Rate considered for the loan component (i.e.70 %) of capital cost is 12.76 %.
For equity component (i.e. 30 %), rate of Return on Equity (ROE) is considered at post
tax ROE of 16 %. The discount factor derived by this method for all technologies is
10.70 % ((12.76 % × 0.70 × (1 – 33.99 %)) + (16.0% × 0.30)).
CAPITAL COST
10. 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 inter-connection point. The
Commission has specified the normative capital cost, applicable for the first year of
control period i.e. FY 2012-13, for various RE technologies viz. Wind Energy, Small
Hydro Power, Biomass Power based on Rankine cycle, Non-Fossil Fuel based
Cogeneration, Solar PV, Solar Thermal, Biomass Gasifier and Biogas based power
projects.
11. In order to determine the normative capital cost for the remaining years of the control
period, the regulations stipulate the indexation mechanism for Wind Energy, Small
Hydro Power, Biomass Power, Non-Fossil Fuel based Cogeneration, Biomass Gasifier
and Biogas based power projects. However, the Capital Cost norms for Solar PV, Solar
6
Thermal Power Projects and MSW projects shall be reviewed on annual basis by the
Commission. The indexation mechanism shall take into account adjustments in capital
cost with the changes in Wholesale Price Index of Steel and Wholesale Price Index of
Electrical Machinery as per formulation stipulated under the RE Tariff Regulations,
which is reproduced overleaf:
CC(n) = P&M(n)* (1+F1+F2+F3)
P&M(n) = P&M(0) * (1+d(n))
d(n) = [a*{(SI(n-1)/SI(0))– 1} + b*{(EI(n-1)/EI(0)) – 1}]/(a+b)
Where,
CC (n) = Capital Cost for nth year
P&M (n) = Plant and Machinery Cost for nth year
P&M (0) = Plant and Machinery Cost for the base year
Note: P&M (0) is to be computed by dividing the base capital cost (for the first year
of the control period) by (1+F1+F2+F3). Factors F1, F2, F3 for each RE technology has
been specified separately, as summarized in following table.
d (n) = Capital Cost escalation factor for year (n) of Control Period
SI (n-1) = Average WPI Steel Index prevalent for calendar year (n-1) of the Control
Period
SI (0) = Average WPI Steel Index prevalent for calendar year (0) at the beginning of
the Control Period
EI (n-1) = Average WPI Electrical Machinery Index prevalent for calendar year (n- 1) of
the Control Period
EI(0) = Average WPI Electrical Machinery Index prevalent for calendar year (0) at the
beginning of the Control Period
a = Constant to be determined by Commission from time to time, (for weightage to
Steel Index)
b = Constant to be determined by Commission from time to time, (for weightage to
Electrical Machinery Index)
F1 = Factor for Land and Civil Works
F2 = Factor for Erection and Commissioning
F3 = Factor for IDC and Financing Cost
The default values of the factors for various RE technologies as stipulated under
the said RE Regulations, is summarized in the table overleaf:
7
Parameters
Wind Energy
Biomass based Rankine
cycle Power plant, NonFossil Fuel Based
Cogeneration Biomass
Gasifier and Biogas based
projects
Small Hydro Projects
a
0.60
0.60
0.70
b
0.40
0.40
0.30
F1
0.08
0.16
0.10
F2
0.07
0.10
0.09
F3
0.10
0.14
0.14
The Commission has relied on the following sources for relevant information on
variousindices:
 Source for WPI (electrical & machinery and iron and steel), WPI ( all
commodities), WPI (Price of HSD): Office of Economic Advisor, Ministry
of Commerce & Industry (www.eaindustry.nic.in)

Source for IRC (Average Annual Inflation rate for indexed energy charge
component
in
case
of
captive
coal
mine
source):
CERC
(www.cercind.gov.in)
Technology specific capital cost of RE projects is discussed herein as under:
(A) Capital Cost of Wind Energy for FY 2016-17
12. Regulation 24 provides that the capital cost for wind energy project shall include wind
turbine generator including its auxiliaries, land cost, site development charges and
other civil works, transportation charges, evacuation cost up to inter-connection
point, financing charges and IDC.
13. The Commission, under Regulation 24 (2) has specified the normative capital cost for
wind energy projects as Rs.575 lakhs/MW for FY 2012-13 which shall be linked to the
indexation mechanism specified under Regulation 25 of the RE Tariff Regulations. In
accordance with the above referred Regulation, the Commission proposes to
determine normative capital cost of the Wind energy Projects at Rs 619.80 lakhs/MW
for FY 2016-17. The detailed computations of the indexation mechanism and
8
determination of the capital cost for FY 2016-17 thereof, has been enclosed as
Appendix-1 of this Order.
(B) Capital cost of Small Hydro Projects for FY 2016-17
14. Small Hydro Projects for the purpose of the RE Tariff Regulations cover those projects
which are located at the sites approved by the State Nodal Agencies/State
Governments using new plant and machinery and with installed power plant capacity
lower than or equal to 25 MW.
15. The Commission under Regulation 28 (1) has specified the normative capital cost for
small hydro projects for FY 2012-13 as under:
Region
Project Size
Capital Cost
(FY 2012-13)
(Rs. Lakhs/ MW)
Himachal Pradesh,
Uttarakhand and North
Eastern States
Below 5 MW
5 MW to 25 MW
770
700
Other States
Below 5 MW
5 MW to 25 MW
600
550
16. In line with the indexation mechanism, specified in Regulation 29 of the RE
Tariff Regulations, the Commission proposes to determine normative capital
cost for FY 2016-17 for Small Hydro Projects as under:
Region
Project Size
Capital Cost
(FY 2016-17)
(Rs.lakhs/ MW)
Himachal Pradesh,
Uttarakhand and North
Eastern States
Below 5 MW
5 MW to 25 MW
830.00
754.55
Other States
Below 5 MW
5 MW to 25 MW
646.75
592.86
The detailed computations of the indexation mechanism and the determination of the
capital cost for FY 2016-17 thereof, has been enclosed as Appendix-2 of this Order.
(C) Capital Cost of Biomass based Power Projects for FY 2016-17
17. The Commission, under Regulation 34 of the RE Tariff (First Amendment) Regulations
has specified the normative capital cost for the biomass power projects based on
Rankine cycle technology application for FY 2014-15 as under:
9
a.
Rs. 540 lakhs/MW for project [other than rice straw and juliflora (plantation)
based project] with water cooled condenser;
b.
Rs. 580 lakhs/MW for Project [other than rice straw and Juliflora (plantation)
based project] with air cooled condenser;
c.
Rs. 590 lakhs/MW for rice straw and juliflora (plantation) based project with
water cooled condenser;
d.
Rs. 630 lakhs/MW for rice straw and juliflora (plantation) based projectwith
air cooled condenser.
18. In line with the indexation mechanism, specified in Regulation 35 of the RE Tariff
Regulations, the normative capital cost for FY 2016-17 for Biomass Projects has been
determined considering capital cost specified in the RE Tariff (First Amendment)
Regulations for FY 2013-14 as base year capital cost, average WPI for Steel and
average WPI for Electrical Machinery prevalent for calendar year 2015 considered for
SI (n-1) and EI (n-1) respectively. Average WPI for Steel and average WPI for Electrical
Machinery prevalent for year 2012 for SI (0) and EI(0)respectively. Accordingly, the
Commission proposes to determine normative capital cost for FY 2016-17 for Biomass
Projects as under;
Biomass Rankine Cycle Projects
Project [other than rice straw and juliflora (plantation) based
project] with water cooled condenser
Project [other than rice straw and Juliflora(plantation) based
project] with air cooled condenser
For rice straw and juliflora (plantation) based project with
water cooled condenser
For rice straw and juliflora (plantation) based project with air
cooled condenser
Capital Cost (FY 201617) (Rslakhs/ MW)
559.03
600.44
610.80
652.20
19. The detailed computations of the indexation mechanism and the determination of the
capital cost for FY 2016-17 thereof, has been enclosed as Appendix-3 of this Order.
10
(D) Capital Cost of Non-fossil fuel based Cogeneration Projects for FY 2016-17
20. Non-fossil based cogeneration has been defined as the process in which more than
one form of energy is produced in a sequential manner by using biomass. As per
Regulation 4(d) of the RE Tariff Regulations, a project to qualify as the non-fossil based
co-generation project must be using new plant and machinery with topping cycle
mode of operation which uses the non-fossil fuel input for power generation and
utilizes the thermal energy generated for useful heat applications in other industrial
activities simultaneously, and where the sum of useful power output and half of useful
thermal output is greater than 45% of the plant’s energy consumption during the
season.
21. The Commission under Regulation 47 has specified the normative capital cost for the
Non-Fossil Fuel Based Cogeneration Projects as Rs.420 lakhs/MW for FY 2012-13
which shall be linked to the indexation mechanism specified under Regulation 48 of
the RE Tariff Regulations. In accordance with the above referred Regulation, the
Commission proposes to determine the normative capital cost of Non-Fossil Fuel
based Cogeneration power projects at Rs. 452.75lakhs/MW for FY 2016-17.The
detailed computations of the indexation mechanism and determination of the capital
cost for FY 2016-17 thereof, have been enclosed as Appendix-4 of this Order.
(E) Capital Cost of Solar PV based Power Projects for FY 2016-17
22. Solar Photo Voltaic (PV) power projects which directly convert solar energy into
electricity using crystalline silicon or thin film technology or any other technology as
approved by the Ministry of New and Renewable Energy and are connected to the
grid, qualify for the purpose of tariff determination under the RE Tariff Regulations.
23. The Commission by way of its suo-motu orders, determined the capital cost as follows:
Year
Capital Cost for Solar PV (Rs. Lakhs/MW)
2010-11
1700
2011-12
1442
2012-13
1000
2013-14
800
2014-15
691
2015-16
605.85
11
24. The Commission under Regulation 57 specified the normative capital cost for the Solar
PV power projects as Rs. 1000 lakhs/MW for FY 2012-13.
25. The Commission vide its suo-motu Order (Petition No. SM/005/2015) dated 31st
March 2015 determined the normative capital cost for the Solar PV power projects as
Rs. 605.85 lakhs/MW for FY 2015-16.
26. It may be seen that over the years, the capital cost has shown a declining trend due
toreasons such as advancement of technologies, reduction in module prices and
economies of scale.
27. The Commission vide its suo-motu Order dated 23rd March 2016 determined the
normative capital cost for the Solar PV power projects as Rs. 530.02 lakhs/MW for FY
2016-17.
(F) Capital Cost of Solar Thermal based Power Projects forFY 2016-17
28. As per Clause4of RE Tariff Regulations, in order to qualify for tariff determination
under the RE Tariff Regulations, Solar Thermal Power Project need to be based on
concentrated solar power technologies with line focusing or point focusing (as
approved by the Ministry of New and Renewable Energy) and which uses direct
sunlight to generate sufficient heat to operate a conventional power cycle to generate
electricity.
Year
Capital Cost for Solar Thermal (Rs. lakhs/MW)
2010-11
1300
2011-12
1500
2012-13
1300
2013-14
1200
2014-15
1200
2015-16
1200
29. The Commission vide its suo-motu Order (Petition No. SM/005/2015) dated 03rd
March 2015 determined the normative capital cost for Solar Thermal power projects
as Rs. 1200 lakhs/MW for FY 2015-16.
12
30. The Commission vide its Order dated 23rd March 2016 determined the normative
capital cost for the Solar Thermal power projects as Rs. 1200 lakhs/MW for FY 201617.
(G) Capital Cost of Biomass Gasifier Power Projects for FY 2016-17
31. The Commission under Regulation 66 has specified the normative capital cost for the
Biomass Gasifier power projects based on Rankine cycle to be Rs. 550.00 lakhs/MW
for FY 2012-13. After taking into account capital subsidy of Rs. 150.00 lakhs/MW, net
project cost of Rs. 400.00 lakhs/MW was determined for FY 2012-13 (linked to the
indexation mechanism specified under Regulation 67 of the RE Tariff Regulations) . In
accordance with the above referred Regulation, the Commission proposes to
determine normative capital cost of Biomass gasifier power projects at Rs. 592.88
lakhs/MW for FY 2016-17. After taking into account capital subsidy of Rs. 150.00
lakhs/MW, net project cost will be Rs. 442.88 lakhs/MW for FY 2016-17. The detailed
computations of the indexation mechanism and determination of the capital cost for
FY 2016-17 thereof, have been enclosed as Appendix-5 of this Order.
(H) Capital Cost of Biogas based Power Projects for FY 2016-17
32. Grid connected biogas based power projects that use 100% Biogas fired engine,
coupled with Biogas technology for co-digesting agriculture residues, manure and
other bio waste (as may be approved by the Ministry of New and Renewable Energy)
qualify for tariff determination under clause 4 of the RE Tariff Regulations.
33. The Commission under Regulation 76 has specified the normative capital cost for
Biogas based power projects to be Rs. 1100.00 lakhs/MW for FY 2012-13. After taking
into account of capital subsidy of Rs. 300.00 lakhs/MW, net project cost is Rs. 800.00
lakhs/MW for FY 2012-13 (which is linked to the indexation mechanism specified
under Regulation 77 of the RE Tariff Regulations.) In accordance with the above
referred Regulation, the Commission proposes to determine the normative capital
cost of Biogas based power projects at Rs. 1185.76lakhs/MW for FY 2016-17. After
taking into account of capital subsidy of Rs. 300.00 lakhs/MW, net project cost will be
Rs. 885.76 lakhs/MW for FY 2016-17. The detailed computations of the indexation
mechanism and determination of the capital cost for FY 2016-17 thereof, have been
enclosed as Appendix-6 of this Order.
34. The capital cost for the fifth year (i.e. FY 2016-17) of the control period in respect of
the renewable energy power generating stations is summarized as under:
13
Renewable Energy Projects
(1)
Wind Energy Projects
(2)
Small Hydro Projects
(a) Himachal Pradesh, Uttarakhand and North
Eastern States (less than 5 MW)
(b) Himachal Pradesh, Uttarakhand and North
Eastern States (5MW to 25 MW)
Capital Cost Norm for FY 2016-17
(Rs. lakhs/MW)
619.81
830.00
754.55
(c) Other States (below 5 MW)
646.76
(d) Other States ( 5MW to 25 MW)
592.86
(3) Biomass Power Projects
(a) project [other than rice straw and juliflora
(plantation) based project] with water cooled
condenser
(b) Project [other than rice straw and Juliflora
(plantation) based project] with air cooled
condenser
559.03
600.44
(c) Rice straw and juliflora (plantation) based
project with water cooled condenser
610.80
(d) Rice straw and juliflora (plantation) based
project with air cooled condenser
652.20
(4) Non-fossil fuel based co-generation Power Projects
452.75
(5) Solar PV Power Projects
530.02
(6) Solar Thermal Power Projects
1200.00
(7) Biomass Gasifier Power Projects
442.88
(8) Biogas Power Projects
885.76
14
DEBT-EQUITY RATIO
35. Sub-Regulation (1) of Regulation 13 of the RE Tariff Regulations provides that the
debt-equity ratio of 70:30 is to be considered for determination of generic tariff based
on suo-motu petition.
36. Based on the debt equity ratio of 70:30, the debt and equity components of the
normative capital cost for determination of tariff for the RE projects have been
worked out as under:
Renewable Energy Projects
(1) Wind Energy (for all zones)
(2) Small Hydro
(a) Himachal Pradesh, Uttarakhand and North
Eastern States (below 5 MW)
(b) Himachal Pradesh, Uttarakhand and North
Eastern States (5 MW to 25 MW)
(c) Other States (below 5 MW)
(d) Other States ( 5MW to 25 MW)
(3) Biomass
(a) project [other than rice straw and Juliflora
(plantation) based project] with water cooled
condenser
(b) Project [other than rice straw and Juliflora
(plantation) based project] with air cooled condenser
(c) Rice straw and Juliflora (plantation) based
project with water cooled condenser
(d) Rice straw and Juliflora (plantation) based
project with air cooled condenser
(4) Non-fossil fuel co-generation
(5) Solar PV
(6) Solar Thermal
(7) Biomass Gasifier based Power Projects
(8) Biogas based Power Projects
Debt (Rs.
Lakh)
433.86
Equity (Rs.
Lakh)
185.94
581.00
249.00
528.18
452.73
415.00
226.36
194.03
177.86
391.32
167.71
420.31
180.13
427.56
183.24
456.54
195.66
316.92
371.01
840.00
310.02
620.03
135.82
159.01
360.00
132.86
265.73
RETURN ON EQUITY
37. Sub-Regulation (1) of Regulation 16 of the RE Tariff Regulations provides that the
value base for the equity shall be 30% of the capital cost for generic tariff
determination. Sub-Regulation (2) of the said Regulation stipulates the normative
Return on Equity (ROE) as under:
a) 20% per annum for the first 10 years, and
15
th
b) 24% per annum from the 11 year onwards.
INTEREST ON LOAN
38. Sub-Regulation (1) of Regulation 14 of the RE Regulations provides that the loan
tenure of 12 years is to be considered for the purpose of determination of tariff for RE
projects. Sub-Regulation (2) of the said Regulations provides for computation of the
rate of interest on loan as under:
“(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
normative loan outstanding as on April 1st of every year shall be worked out by
deducting the cumulative repayment up to March 31st of previous year from the
gross normative loan.
(b) For the purpose of computation of tariff, the normative interest rate shall be
considered as average State Bank of India (SBI) Base rate prevalent during the first
six months of the previous year plus 300 basis points.
(c) Notwithstanding any moratorium period availed by the generating company,
the repayment of loan shall be considered from the first year of commercial
operation of the project and shall be equal to the annual depreciation allowed".
39. The weighted average State Bank of India (SBI) Base rate prevalent during the first six
months has been considered for the determination of tariff, as shown in the table
below:
From
To
Interest rate
Wednesday, April 1, 2015
Thursday, April 9, 2015
10.00%
Friday, April 10, 2015
Sunday, June 7, 2015
9.85%
Monday, June 8, 2015
Wednesday, September 30, 2015
9.70%
Source: State Bank of India (www.statebankofindia.com)
40. In terms of the above, the computations of interest on loan carried out for
determination of tariff in respect of the RE projects treating the value base of loan as
70% of the capital cost and the weighted average of Base rate prevalent during the
first six months of FY 2015-16 (i.e. 9.76%) plus 300 basis points is equivalent to
interest rate of 12.76%.
16
DEPRECIATION
41. Regulation 15 of the RE Tariff Regulations provides for computation of depreciation in
the following manner:
"(1) The value base for the purpose of depreciation shall be the Capital Cost of the
asset admitted by the Commission. The Salvage value of the asset shall be
considered as 10% and depreciation shall be allowed up to maximum of 90% of the
Capital Cost of the asset.
(2) Depreciation per annum shall be based on ‘Differential Depreciation
Approach' over loan period beyond loan tenure over useful life computed
on‘Straight Line Method’. The depreciation rate for the first 12 years of the Tariff
Period shall be 5.83% per annum and the remaining depreciation shall be spread
over the remaining useful life of the project from 13th year onwards.
(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,
depreciation shall be charged on pro rata basis".
42. In accordance with the above, the rate of depreciation for the first 12 years has been
considered as 5.83% and the rate of depreciation from the 13th year onwards has
been spread over the balance useful life of the RE project as under:
Details
Wind Small
Biomass
Energy Hydro
Non-fossil
Solar Solar Biomass
fuel coBiogas
PV Thermal Gasifier
generation
Useful Life
(in years)
25
35
20
20
25
25
20
20
Rate of
depreciation
for 12 years
(%)
5.83
5.83
5.83
5.83
5.83
5.83
5.83
5.83
Rate of
depreciation
after first 12
years (%)
1.54
0.87
2.51
2.51
1.54
1.54
2.51
2.51
INTEREST ON WORKING CAPITAL
43. Regulation 17 of the RE Tariff Regulations provides for the working capital
requirements of the RE projects as under:
17
“(1) The Working Capital requirement in respect of wind energy projects,
Small Hydro Power, Solar PV and Solar thermal power projects shall be
computed in accordance with the following:
Wind Energy / Small Hydro Power /Solar PV / Solar thermal
a) Operation & Maintenance expenses for one month;
b) Receivables equivalent to 2 (Two) months of energy charges for sale of
electricity calculated on the normative CUF;
c) Maintenance spare @ 15% of operation and maintenance expenses
(2) The Working Capital requirement in respect of biomass power projects
and non-fossil fuel based co-generation projects shall be computed in
accordance with the following clause:
Biomass(Rankine Cycle Technology), Biomass Gasifier, Biogas Power
andNon-fossil fuel Co-generation
a) Fuel costs for four months equivalent to normative PLF;
b) Operation & Maintenance expense for one month;
c)Receivables equivalent to 2 (Two) months of fixed and variable charges
for sale of electricity calculated on the target PLF;
d) Maintenance spare @ 15% of operation and maintenance expenses
(3) Interest on Working Capital shall be at interest rate equivalent to the
average State Bank of India Base Rate prevalent during the first six months
of the previous year plus 350 basis points”.
44. Receivables equivalent to two months of actual fixed cost and variable cost, (as
applicable for biomass power and non-fossil fuel based co-generation) have been
considered. Interest rate has been considered as weighted average of State Bank of
India Base Rate prevalent during the first six months of the previous year plus 350
basis points (equivalent to interest rate of 13.26%). The interest on working capital has
been worked out as specified below for determination of tariff of the RE projects:
Details
Wind
Energy
Small
Hydro
Biomass,
Biomass
Gasifier
and
Biogas
Non-fossil
fuel cogeneration
Solar PV
Solar
Thermal
1
1
1
1
1
1
(A)For Fixed charges
(i) O&M expenses
(month)
18
Details
Wind
Energy
Small
Hydro
Biomass,
Biomass
Gasifier
and
Biogas
Non-fossil
fuel cogeneration
Solar PV
Solar
Thermal
(ii) Maintenance
spares (%) of
O&M expenses
15
15
15
15
15
15
(iii) Receivables
(months)
2
2
2
2
2
2
-
-
4
4
-
-
13.26%
13.26%
13.26%
13.26%
13.26%
(B) For Variable Charges
Biomass/Bagasse
stock (months)
(C) Interest On
Working
Capital 13.26%
(%)
Source for SBI Base Rate: State Bank of India (www.statebankofindia.com)
OPERATION AND MAINTENANCE EXPENSES
45. Regulation 18 of the RE Tariff Regulations provides for Operation and Maintenance
Expenses (O&M expenses) in respect of RE projects as under:
“Operation and Maintenance Expenses
(1) ‘Operation and Maintenance or O&M expenses’ shall comprise repair and
maintenance (R&M), establishment including employee expenses and
administrative & general expenses.
(2) Operation and maintenance expenses shall be determined for the Tariff Period
based on normative O&M expenses specified by the Commission subsequently
in these Regulations for the first Year of Control Period.
(3) Normative O&M expenses allowed during first year of the Control Period (i.e.
FY 2012-13) under these Regulations shall be escalated at the rate of 5.72% per
annum over the Tariff Period”
46. The normative O&M expenses for various RE technologies specified under the
relevant provisions of the RE Tariff Regulations are as under:
19
Wind Energy: Regulation 27 of RE Tariff Regulations provides that the normative
O&M expenses for the first year of the control period (i.e. 2012-13) as Rs. 9 lakh
per MW and shall be escalated at the rate of 5.72% per annum over the tariff
period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for wind energy as Rs. 11.24 lakhs/MW for FY 2016-17.
(b) Small Hydro: Regulation 32 of RE Regulations provided for the normative O&M
expenses for small hydro projects for the year 2012-13 which shall be escalated at
the rate of 5.72% per annum over the tariff period for determination of the
levellised tariff. The table below presents the normative
47. O&M Expenses considered by the Commission for small hydro power for FY2012-13;
Region
Himachal Pradesh,
Uttarakhand and North
Eastern States
Project Size
O&M expenses
(Rs. lakhs/MW)
Below 5 MW
25
5 MW to 25 MW
18
Below 5 MW
20
5 MW to 25 MW
14
Other States
Accordingly, the table below presents the normative O&M Expenses considered by the
Commission for small hydro power for FY 2016-17
Region
Himachal Pradesh, Uttarakhand
and North Eastern States
Other States
Project Size
O&M expenses
(Rs.lakhs/MW)
Below 5 MW
31.23
5 MW to 25 MW
22.49
Below 5 MW
24.98
5 MW to 25 MW
17.49
(c) Biomass: Regulation 39 of RE Tariff (First Amendment) Regulations provides that the
normative O& M expenses for biomass based projects for the year 2013-14 shall be Rs.
40 Lakh per MW and which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for biomass power as Rs. 47.26 lakhs/MW for FY 2016-17.
20
(d) Non-fossil fuel co-generation: As per Regulation 55 of RE Tariff Regulations, the
normative O&M Expenses for non-fossil fuel co-generation projects for the year 201213 has been specified as Rs. 16 Lakh per MW which shall be escalated at the rate of
5.72% per annum over the tariff period for determination of the levellised tariff.
Accordingly, the Commission has considered O&M cost norm for non-fossil fuel based
co-generation as Rs. 19.99 lakhs/MW for FY 2016-17.
(e) Solar PV: As per CERC (Terms and Conditions for Tariff determination from Renewable
Energy Sources) (Fifth amendment) Regulations, 2016 the "Normative O&M expenses
for the last year of the Control Period (i.e. FY2016-17) shall be Rs 7 Lakh per MW".
Accordingly, O&M expense norm for solar PV power projects for FY 2016-17 has been
considered as Rs. 7.00 lakhs/MW.
(f) Solar Thermal: Regulation 63 of the RE Tariff Regulations specified the normative
O&M expenses for solar thermal power projects shall be Rs. 15 lakhs/MW for the first
year of operation, which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, O&M expense norm
for solar thermal power project as Rs. 18.74 lakhs/MW for FY 2016-17, has been
considered.
(g) Biomass Gasifier: Regulation 71 of the RE Tariff Regulations specified the normative
O&M expenses for solar thermal power projects shall be Rs. 40 lakhs/MW for the first
year of operation, which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for biomass gasifier based power plant as Rs.
49.97lakhs/MW for FY 2016-17.
(h) Biogas: Regulation 80 of the RE Tariff Regulations specified the normative O&M
expenses for biogas shall be Rs. 40 lakhs/MW for the first year of operation, which shall
be escalated at the rate of 5.72% per annum over the tariff period for determination of
the levellised tariff. Accordingly, theCommission has considered O&M cost norm for
biogas based power plant as Rs. 49.97 lakhs/MW for FY 2016-17.
48. The normative O&M expenses have been worked out as specified above for
determination of tariff for the renewable energy generating stations.
21
CAPACITY UTILISATION FACTOR
49. Regulations 26, 30, 58 and 62 of the RE Tariff Regulations specify the norms for
Capacity Utilization Factor (CUF)/Plant Load Factor (PLF) in respect of the Wind
Energy, Small Hydro, Solar PV and Solar Thermal based power generating stations as
per the details given in the table below which has been considered for determination
of tariff.
Renewable Energy Projects
CUF
(A) Wind Energy: Annual Mean Wind Power Density (W/m2)
Wind zone - 1 (Upto 200)
Wind zone - 2 (201 - 250)
Wind zone - 3 (251 - 300)
Wind zone - 4 (301 - 400)
Wind zone - 5 (Above 400)
20 %
22 %
25 %
30 %
32 %
(B) Small Hydro
(i) Himachal, Uttarakhand and North Eastern States
(ii) Other States
45 %
30 %
(C) Solar PV
19 %
(D) Solar Thermal
23 %
PLANT LOAD FACTOR (PLF)
50. Regulations 36, 68 and 78 of the RE Tariff Regulations specify the plant load factor for
Biomass, Biomass Gasifier and Biogas based renewable energy generating stations as
given in the table below which has been considered for determination of fixed charges
component of tariff.
Renewable Energy Projects
PLF
(A) Biomass
(a) During stabilization (6 months)
(b) During remaining period of the first year (after stabilization)
(c) Second year onwards
60 %
70 %
80 %
(B) Biomass Gasifier
85 %
(C) Biogas
90 %
22
51. Regulation 49 of the RE Tariff Regulations stipulates the plant load factor for Nonfossil Fuel based Co-generation projects as under, computed on the basis of plant
availability for number of operating days considering the operations during crushing
season and off-season and load factor of 92%. The number of
Operating days for
different States as specified in the Regulation 49(2) is as under:
States
Uttar Pradesh
and Andhra Pradesh
Tamil Nadu and
Maharashtra
Other States
Operating days
PLF
120 days (crushing)+ 60 days (off-season) = 180 days
45 %
180 days (crushing)+ 60 days (off-season) = 240 days
60 %
150 days (crushing) + 60 days (off-season) = 210 days
53 %
AUXILIARY POWER CONSUMPTION
52. Regulations 31, 37, 50, 64, 69 and 79 of the RE Tariff Regulations as amended from
time to time, stipulate the auxiliary power consumption factor as under which has
been considered for determination of tariff of the RE projects :
Renewable Energy Projects
Small Hydro
Auxiliary Consumption Factor
1%
Biomass
a) the project using water
cooled condenser
i. During first year of operation: 11%;
ii. From 2nd year onwards: 10%.
b) project using air cooled
condenser
i. During first year of operation: 13%;
ii. From 2nd year onwards: 12%.
Non-fossil fuel co-generation
8.5 %
Solar Thermal
10 %
Biomass Gasifier
10 %
Biogas
12 %
23
STATION HEAT RATE
53. The Station Heat Rates (SHR) specified under Regulations 33, 38 (Third Amendment)
and 51 of the RE Tariff Regulations as amended from time to time for biomass and
non-fossil fuel based co-generation projects are as under:
Renewable Energy Projects
SHR
(kCal / kWh)
Biomass
a.4126 : for project using
travelling grate boilers;
b. 4063 : for project using
AFBC boilers.
Non-fossil fuel co-generation (for
power component)
3600
FUEL
(a) Fuel Mix
54. Sub-Regulation (1) of Regulation 40 of the RE Tariff Regulations stipulates that the
Biomass based power generating stations are to be designed in a way that it uses
different types of non-fossil fuels available within the vicinity of biomass power
project such as crop residues, agro-industrial residues, forest residues etc. and other
biomass fuels as may be approved by the Ministry of Non-Renewable Energy (MNRE).
Sub-Regulation (2) of the said Regulations stipulates that the biomass power
generating companies are to ensure fuel management plan to ensure adequate
availability of fuel to meet the respective project requirements.
55. Regulation 70 of the RE Tariff Regulations stipulates that the normative specific fuel
consumption shall be 1.25 kg per kWh for Biomass Gasifier based power generating
stations.
56. Regulation 81 of the RE Tariff Regulations stipulates that the normative specific fuel
consumption shall be 3 kg of substrate mix per kWh for Biogas based power
generating stations.
(b) Calorific value
57. Regulation 43 of the RE Tariff (Third Amendment) Regulations, provides the calorific
value of biomass fuel used for determination of tariff shall be at 3174 kCal/kg.
24
58. Regulation 52 of the of the RE Tariff Regulations provides the gross calorific value for
bagasse to be considered in case of non-fossil fuel co-generation projects is 2250
kCal/kg and for the use of biomass fuels other than bagasse, the calorific value as
specified above shall be applicable.
(c)Fuel cost
59. The Commission, in terms of Regulation 44 of the RE Tariff Regulations, has specified
the biomass fuel price applicable during the period 2012-13 and has specified fuel
price indexation mechanism, in case developer wishes to opt, for the remaining years
of the control period. The data for Pd and WPI, as per regulations, latest figures for
April, 2015 and April, 2014 corresponding to nth and (n-1)th year has been considered
while calculating the fuel price indexation for biomass and also non-fossil fuel based
co-generation power projects. The detailed computations of the fuel price indexation
mechanism and the determination of the biomass fuel prices for FY 2016-17 thereof,
has been enclosed as Appendix-7 to this order. Accordingly, the biomass fuel price
applicable for FY 2016-17 is as under:
State
Biomass price
(Rs./tonne)
Andhra Pradesh
2807.74
Haryana
3195.86
Maharashtra
3268.62
Punjab
3342.60
Rajasthan
2789.54
Tamil Nadu
2761.64
Uttar Pradesh
2856.25
Other States
3003.01
60. The Commission, in terms of Regulation 53 of the RE Tariff Regulations, has specified
the price of bagasse applicable during the period 2012-13 and has specified fuel price
indexation mechanism, in case developer wishes to opt, for the remaining years of the
control period. The detailed computations of the fuel price indexation mechanism and
the determination of the bagasse fuel prices for FY 2016-17 thereof, has been
enclosed as Appendix-8 of this Order. The price of bagasse (for non-fossil fuel based
co-generation projects) applicable for FY 2016-17 shall be as in the table below;
25
State
Bagasse Price
(Rs./tonne)
Andhra Pradesh
1585.19
Haryana
2254.67
Maharashtra
2221.93
Punjab
1984.22
Tamil Nadu
1707.69
Uttar Pradesh
1768.33
Other States
1919.93
61. The Commission, in terms of Regulation 73 of the RE Tariff Regulations, has specified
the biomass fuel price during first year of the Control Period (i.e. FY 2012-13) as per
Regulation 44 and has specified fuel price indexation mechanism for the Biomass
Gasifier project developer. Accordingly, the biomass fuel price for the Biomass gasifier
based power project applicable for FY 2016-17 shall be the same as for the biomass
based power project (Rankine cycle) as mentioned above. The detailed computations
of the fuel price indexation mechanism and the determination of the biomass fuel
prices for FY 2016-17 thereof, has been enclosed as Appendix-9 of this Order.
62. The Commission, in terms of Regulation 82 of the RE Tariff Regulations, has specified
the feed stock price during first year of the Control Period (i.e. FY 2012-13) at Rs.
990/MT(net of any cost recovery from digester effluent) and has specified fuel price
indexation mechanism for the Biogas project developer. The detailed computations of
the fuel price indexation mechanism and the determination of the bagasse fuel prices
for FY 2016-17 thereof, has been enclosed as Appendix-10 of this Order. The price of
fuel applicable for the biogas based power plant for FY 2016-17 shall be at Rs.
1200.72/MT (net of any cost recovery from digester effluent).
63. In case of Biomass Power Projects, non-fossil fuel based co-generation projects,
Biomass Gasifier based power Projects and Biogas based power projects, variable
component of tariff is calculated based on the fuel cost for FY 2016-17. This variable
component will change each year based on whether a Renewable Energy Power
Project developer opts for fuel price indexation or escalation factor of 5%. Hence,
while calculating the total applicable tariff for Biomass Power Projects, non-fossil fuel
based co-generation projects, Biomass Gasifier based power Projects and Biogas
26
based power projects, levellisation of only fixed component is considered and the
variable component for the first year of operation (i.e. 2015-16) is specified.
Subsidy or incentive by the Central / State Government
64. Regulation 22 of the RE Tariff Regulations provides as under:
“The Commission shall take into consideration any incentive or subsidy offered by
the Central or State Government, including accelerated depreciation benefit if
availed by the generating company, for the renewable energy power plants while
determining the tariff under these Regulations.
Provided that the following principles shall be considered for ascertaining income
tax benefit on account of accelerated depreciation, if availed, for the purpose of
tariff determination:
1) Assessment of benefit shall be based on normative capital cost, accelerated
depreciation rate as per relevant provisions under Income Tax Act and corporate
income tax rate.
ii) Capitalization of RE projects during second half of the fiscal year. Per unit benefit
shall be derived on levellised basis at discount factor equivalent to Post Tax weighted
average cost of capital”.
65. In terms of the above regulation, for the projects availing the benefit of accelerated
depreciation as per applicable Income tax rate @ 33.99% (30% IT rate+ 10% surcharge
+3% Education cess) has been considered. For the purpose of determining net
depreciation benefits, depreciation @ 5.28% as per straight line method (Book
depreciation as per Companies Act, 1956) has been compared with depreciation as
per Income Tax rate i.e. 80% of the written down value method. Moreover, additional
20% depreciation in the initial year is proposed to be extended to new assets acquired
by power generation companies vide amendment in the section 32, sub-section (1)
clause (iia) of the Income Tax Act.
66. Depreciation for the first year has been calculated at the rate of 50% of accelerated
depreciation 80% and 50% of additional depreciation 20% (as project is capitalized
during the second half of the financial year as per proviso to Regulation 22). Income
tax benefits of accelerated depreciation and additional depreciation, has been worked
out as per normal tax rate on the net depreciation benefit. Per unit levellised
27
accelerated depreciation benefit has been computed considering the post tax
weighted average cost of capital as discount factor. Accelerated depreciation benefit
has been computed as per existing provisions of Income Tax Act. The provisions
related to Accelerated Depreciation announced in Union Budget of India presented on
February 29, 2016 would be applied once the same are notified.
67. In the light of the discussion made in the preceding paragraphs, the generic tariffs of
the following RE projects for the financial year 2016-17 have been arrived at and are
proposed as under:
28
Generic Tariff for RE Technologies for FY 2016-17
Particular
Levellised Total
Tariff
(FY 2016-17)
Benefit of
Accelerated
Depreciation
(if availed)
Net Levellised Tariff
(upon adjusting for
Accelerated Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Wind Energy
Wind Zone -1 (CUF 20%)
6.61
0.70
5.90
Wind Zone -2 (CUF 22%)
6.01
0.64
5.37
Wind Zone -3 (CUF 25%)
5.29
0.56
4.72
Wind Zone -4 (CUF 30%)
4.40
0.47
3.94
Wind Zone -5 (CUF 32%)
4.13
0.44
3.69
Small Hydro Power Project
HP, Uttarakhand and NE
States (Below 5MW)
4.70
-
-
HP, Uttarakhand and NE
States (5MW to 25 MW)
3.99
-
-
Other States
(Below 5 MW)
5.54
-
-
Other States
(5 MW to 25 MW)
4.69
-
-
Variable
Net Levellised Tariff
Applicable
Benefit of
Cost
(upon adjusting for
Levellised
Tariff Rate Accelerated
State
(FY
Accelerated
Fixed Cost
(FY 2016- Depreciation
2016Depreciation
17)
(if availed)
17)
benefit) (if availed)
(₹/kWh)
(₹/kWh) (₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based project]
with Water Cooled Condenser and travelling grate boiler
Andhra
3.07
4.10
7.17
0.18
7.00
Pradesh
Haryana
3.13
4.67
7.79
0.18
7.62
Maharashtra
3.14
4.77
7.91
0.18
7.73
Punjab
3.15
4.88
8.03
0.18
7.85
Rajasthan
3.07
4.07
7.14
0.18
6.97
29
State
Tamil Nadu
Uttar
Pradesh
Others
State
(₹/kWh)
3.07
Variable
Cost
(FY
201617)
(₹/kWh)
4.03
3.08
4.17
7.254
0.18
7.07
3.10
4.39
7.49
0.18
7.31
Levellised
Fixed Cost
Applicable
Tariff Rate
(FY 201617)
Benefit of
Accelerated
Depreciation
(if availed)
(₹/kWh)
7.10
(₹/kWh)
0.18
Net Levellised Tariff
(upon adjusting for
Accelerated
Depreciation
benefit) (if availed)
(₹/kWh)
6.92
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based project] with
Air Cooled Condenser and travelling grate boiler
Andhra Pradesh
3.25
4.20
7.45
0.20
7.25
Haryana
3.31
4.78
8.08
0.20
7.89
Maharashtra
3.32
4.88
8.20
0.20
8.01
Punjab
3.33
4.99
8.32
0.20
8.13
Rajasthan
3.25
4.17
7.42
0.20
7.22
Tamil Nadu
3.25
4.13
7.37
0.20
7.18
Uttar Pradesh
3.26
4.27
7.53
0.20
7.33
Others
3.28
4.49
7.77
0.20
7.57
State
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
30
State
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with Water
Cooled Condenser and travelling grate boiler
Andhra Pradesh
3.21
4.10
7.31
0.19
7.12
Haryana
3.26
4.67
7.93
0.19
7.74
Maharashtra
3.27
4.77
8.05
0.19
7.85
Punjab
3.28
4.88
8.17
0.19
7.97
Rajasthan
3.21
4.07
7.28
0.19
7.09
Tamil Nadu
3.20
4.03
7.24
0.19
7.04
Uttar Pradesh
3.22
4.17
7.39
0.19
7.19
Others
3.24
4.39
7.62
0.19
7.43
State
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with Air Cooled
Condenser and travelling grate boiler
Andhra Pradesh
3.40
4.20
7.59
0.21
7.38
Haryana
3.45
4.78
8.23
0.21
8.01
Maharashtra
3.46
4.88
8.34
0.21
8.13
Punjab
3.47
4.99
8.47
0.21
8.25
Rajasthan
3.39
4.17
7.56
0.21
7.35
31
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Tamil Nadu
3.39
4.13
7.52
0.21
7.30
Uttar Pradesh
3.40
4.27
7.67
0.21
7.46
Others
3.42
4.49
7.91
0.21
7.70
State
Variable
Net Levellised Tariff
Applicable
Benefit of
Cost
(upon adjusting for
Levellised
Tariff Rate Accelerated
State
(FY
Accelerated
Fixed Cost
(FY 2016- Depreciation
2016Depreciation
17)
(if availed)
17)
benefit) (if availed)
(₹/kWh)
(₹/kWh) (₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based project]
with Water Cooled Condenser and AFBC boiler
Andhra
3.07
4.04
7.10
0.18
6.93
Pradesh
Haryana
3.12
4.60
7.72
0.18
7.54
Maharashtra
3.13
4.70
7.83
0.18
7.65
Punjab
3.14
4.81
7.95
0.18
7.77
Rajasthan
3.06
4.01
7.08
0.18
6.90
Tamil Nadu
3.06
3.97
7.03
0.18
6.85
Uttar
3.07
4.11
7.18
0.18
7.00
Pradesh
Others
3.09
4.32
7.41
0.18
7.23
State
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based project] with
Air Cooled Condenser and AFBC boiler
32
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
3.25
4.13
7.38
0.20
7.18
Haryana
3.30
4.70
8.00
0.20
7.81
Maharashtra
3.31
4.81
8.12
0.20
7.93
Punjab
3.32
4.92
8.24
0.20
8.04
Rajasthan
3.24
4.10
7.35
0.20
7.15
Tamil Nadu
3.24
4.06
7.30
0.20
7.11
Uttar Pradesh
3.25
4.20
7.46
0.20
7.26
Others
3.27
4.42
7.69
0.20
7.50
State
Andhra Pradesh
State
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with Water
Cooled Condenser and AFBC boiler
Andhra Pradesh
3.20
4.04
7.24
0.19
7.05
Haryana
3.26
4.60
7.85
0.19
7.66
Maharashtra
3.27
4.70
7.97
0.19
7.77
Punjab
3.28
4.81
8.08
0.19
7.89
Rajasthan
3.20
4.01
7.21
0.19
7.02
Tamil Nadu
3.20
3.97
7.17
0.19
6.98
Uttar Pradesh
3.21
4.11
7.32
0.19
7.12
33
State
Others
State
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
(₹/kWh)
3.23
4.32
7.55
0.19
7.36
Levellised
Fixed Cost
Variable Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Net Levellised
Applicable
Benefit of
Tariff
Tariff Rate Accelerated (upon adjusting for
(FY 2016- Depreciation
Accelerated
17)
(if availed)
Depreciation
benefit) (if availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with Air Cooled
Condenser and AFBC boiler
Andhra Pradesh
3.39
4.13
7.52
0.21
7.31
Haryana
3.44
4.70
8.15
0.21
7.93
Maharashtra
3.45
4.81
8.26
0.21
8.05
Punjab
3.46
4.92
8.38
0.21
8.17
Rajasthan
3.39
4.10
7.49
0.21
7.28
Tamil Nadu
3.38
4.06
7.45
0.21
7.23
Uttar Pradesh
3.40
4.20
7.60
0.21
7.39
Others
3.42
4.42
7.84
0.21
7.62
Bagasse Based Co-generation Project
Andhra Pradesh
3.17
2.77
5.94
0.24
5.70
Haryana
2.84
3.94
6.79
0.21
6.58
Maharashtra
2.55
3.89
6.43
0.18
6.25
34
Punjab
2.80
3.47
6.27
0.21
6.06
Tamil Nadu
2.46
2.99
5.45
0.18
5.27
Uttar Pradesh
3.20
3.09
6.29
0.24
6.05
2.79
3.36
6.14
0.21
5.94
Others
Solar PV and Solar Thermal
Levellised Total Tariff
(FY 2016-17)
Benefit of
Accelerated
Depreciatio
n
(if availed)
Net Levellised
Tariff
(upon adjusting
for Accelerated
Depreciation
benefit) (if
availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Solar PV
5.68
0.59
5.09
Solar Thermal
12.08
1.24
10.84
Applicable
Tariff Rate
(FY 201617)
Benefit of
Accelerated
Depreciatio
n
(if availed)
Net Levellised
Tariff
(upon adjusting
for Accelerated
Depreciation
benefit) (if
availed)
(₹/kWh)
(₹/kWh)
(₹/kWh)
Particular
State
Variable
Levellised
Cost
Fixed Cost
(FY 2016-17)
(₹/kWh)
(₹/kWh)
Biomass Gasifier Power Project
Andhra Pradesh
2.61
3.90
6.51
0.13
6.38
Haryana
2.67
4.44
7.10
0.13
6.97
Maharashtra
2.67
4.54
7.21
0.13
7.08
Punjab
2.68
4.64
7.33
0.13
7.20
Rajasthan
2.61
3.87
6.49
0.13
6.35
Tamil Nadu
2.61
3.84
6.44
0.13
6.31
Uttar Pradesh
2.62
3.97
6.59
0.13
6.46
35
Others
2.64
4.17
6.81
0.13
6.68
Biogas based Generation
Biogas
4.09
3.59
7.68
0.26
7.42
36
1. The detailed computations for the generic tariff for various RE technologies have
been enclosed to this Order as per the details given hereunder:
S.No
Renewable Energy Projects
A
Wind Power Projects
B
C.1
C.2
Annexure
Wind Zone-I
Annexure 1A
Wind Zone-II
Annexure 1B
Wind Zone III
Annexure 1C
Wind Zone IV
Annexure 1D
Wind Zone V
Annexure 1E
Small Hydro Power Projects
Projects Less than 5 MW for HP, Uttarakhand and NE States
Annexure 2A
Projects between 5 MW and 25 MW for HP, Uttarakhand and NE
States
Annexure 2B
Projects less than 5 MW for other States
Annexure 2C
Projects between 5 MW and 25 MW for other states
Annexure 2D
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based
project] with Water Cooled Condenser and using Travelling Grate boiler
Andhra Pradesh
Annexure 3.1A
Haryana
Annexure 3.1B
Maharashtra
Annexure 3.1C
Punjab
Annexure 3.1D
Rajasthan
Annexure 3.1E
Tamil Nadu
Annexure 3.1F
Uttar Pradesh
Annexure 3.1G
Others
Annexure 3.1H
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based
project] with Air Cooled Condenser and using Travelling Grate boiler
Andhra Pradesh
Annexure 3.2A
Haryana
Annexure 3.2B
Maharashtra
Annexure 3.2C
Punjab
Annexure 3.2D
37
S.No
C.3
C.4
C.5
Renewable Energy Projects
Annexure
Rajasthan
Annexure 3.2E
Tamil Nadu
Annexure 3.2F
Uttar Pradesh
Annexure 3.2G
Others
Annexure 3.2H
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with
Water Cooled Condenser and using Travelling Grate boiler
Andhra Pradesh
Annexure 3.3A
Haryana
Annexure 3.3B
Maharashtra
Annexure 3.3C
Punjab
Annexure 3.3D
Rajasthan
Annexure 3.3E
Tamil Nadu
Annexure 3.3F
Uttar Pradesh
Annexure 3.3G
Others
Annexure 3.3H
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with
Air Cooled Condenser and using Travelling Grate boiler
Andhra Pradesh
Annexure 3.4A
Haryana
Annexure 3.4B
Maharashtra
Annexure 3.4C
Punjab
Annexure 3.4D
Rajasthan
Annexure 3.4E
Tamil Nadu
Annexure 3.4F
Uttar Pradesh
Annexure 3.4G
Others
Annexure 3.4H
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based
project] with Water Cooled Condenser and using AFBC boiler
Andhra Pradesh
Annexure 3.5A
Haryana
Annexure 3.5B
Maharashtra
Annexure 3.5C
Punjab
Annexure 3.5D
Rajasthan
Annexure 3.5E
38
S.No
C.6
C.7
C.8
Renewable Energy Projects
Annexure
Tamil Nadu
Annexure 3.5F
Uttar Pradesh
Annexure 3.5G
Others
Annexure 3.5H
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based
project] with Air Cooled Condenser and using AFBC boiler
Andhra Pradesh
Annexure 3.6A
Haryana
Annexure 3.6B
Maharashtra
Annexure 3.6C
Punjab
Annexure 3.6D
Rajasthan
Annexure 3.6E
Tamil Nadu
Annexure 3.6F
Uttar Pradesh
Annexure 3.6G
Others
Annexure 3.6H
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with
Water Cooled Condenser and using AFBC boiler
Andhra Pradesh
Annexure 3.7A
Haryana
Annexure 3.7B
Maharashtra
Annexure 3.7C
Punjab
Annexure 3.7D
Rajasthan
Annexure 3.7E
Tamil Nadu
Annexure 3.7F
Uttar Pradesh
Annexure 3.7G
Others
Annexure 3.7H
Biomass Power Projects [Rice Straw and Juliflora (plantation) based project] with
Air Cooled Condenser and using AFBC boiler
Andhra Pradesh
Annexure 3.8A
Haryana
Annexure 3.8B
Maharashtra
Annexure 3.8C
Punjab
Annexure 3.8D
Rajasthan
Annexure 3.8E
Tamil Nadu
Annexure 3.8F
39
S.No
D
E
F
G
Renewable Energy Projects
Annexure
Uttar Pradesh
Annexure 3.8G
Others
Annexure 3.8H
Non-Fossil Fuel Based Cogeneration
Andhra Pradesh
Annexure 4A
Haryana
Annexure 4B
Maharashtra
Annexure 4C
Punjab
Annexure 4D
Tamil Nadu
Annexure 4E
Uttar Pradesh
Annexure 4F
Others
Annexure 4G
Solar Projects
Solar PV Projects
Annexure 5A
Solar Thermal Projects
Annexure 6A
Biomass Gasifier Power Projects
Andhra Pradesh
Annexure 7A
Haryana
Annexure 7B
Maharashtra
Annexure 7C
Punjab
Annexure 7D
Rajasthan
Annexure 7E
Tamil Nadu
Annexure 7F
Uttar Pradesh
Annexure 7G
Others
Annexure 7H
Biogas based Power Projects
Annexure 8A
Sd/(M.K.Iyer)
Member
Sd/(A.S. Bakshi)
Member
Sd/(A. K. Singhal)
Member
Sd/(Gireesh B. Pradhan)
Chairperson
New Delhi
Dated the
40
Appendix-1
Capital cost of Indexation for Wind Power Projects (FY 2016-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) /
(a+b) P&M(n) =P&M(0)*(1+ d (n))
Month/Year
January
February
March
ApriL
May
June
July
August
September
October
November
December
Average
Parameters
CC(0) (₹ L/MW)
P&M(0) (₹ L/MW)
d(n)
P&M(n) (₹ L/MW)
CC(n) (₹ L/MW)
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.036
Description
Capital Cost for the Base Year
Plant & Machinery Cost for the Base Year
Capital Cost escalation Factor
Plant & Machinery Cost for the nth Year (FY 2016-17)
Capital Cost for the nth Year (FY 2016-17)
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
Value
575
460
7.792%
495.85
619.81
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry of
Commerce and Industry (www.eaindustry.nic.in)
41
Appendix-2
Capital cost of Indexation for Small Hydro Power Projects (FY 2016-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) / (a+b)
P&M(n) =P&M(0)*(1+ d (n))
Variable
Description
Value
a
Weightage for Steel Index
0.6
b
Weightage for Electrical Machinery Index
0.4
F1
Factor for Land and Civil Work
0.16
F2
Factor for Erection and Commissioning
0.1
F3
Factor for IDC and Financing
0.14
Month/Year
January
February
March
ApriL
May
June
July
August
September
October
November
December
Average
Parameters
CC(0) (₹
L/MW)
P&M(0) (₹
L/MW)
d(n)
P&M(n) (₹
L/MW)
CC(n) (₹
L/MW)
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Description
Capital Cost for the Base Year
Plant & Machinery Cost for the
Base Year
Capital Cost escalation Factor
Plant & Machinery Cost for the nth
Year (FY 16-17)
Capital Cost for the nth Year (FY
2016-17)
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
130.036
HP/Uttrakhand/NE
SHP <5 5MW-25
MW
MW
Other States
SHP<5
5MW-25
MW
MW
770
700
600
550
550
7.792%
500
7.792%
428.57
7.792%
392.86
7.792%
592.86
538.96
461.97
423.47
830.00
754.55
646.75
592.86
42
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry of
Commerce and Industry (www.eaindustry.nic.in)
Appendix– 3
Capital cost of Indexation for Biomass Power Projects (FY 2016-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) / (a+b)
P&M(n) =P&M(0)*(1+ d (n))
Variable
Description
Value
A
Weightage for Steel Index
0.7
B
Weightage for Electrical Machinery Index
0.3
F1
Factor for Land and Civil Work
0.1
F2
Factor for Erection and Commissioning
0.09
F3
Factor for IDC and Financing
0.14
Month/Year
January
February
March
ApriL
May
June
July
August
September
October
November
December
Average
Parameters
CC(0) (₹
L/MW)
P&M(0) (₹
L/MW)
d(n)
P&M(n) (₹
L/MW)
CC(n) (₹
L/MW)
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Description
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.036
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
Biomass Power Projects (Rankine
Cycle)
a*
b*
c*
d*
Capital Cost for the Base Year : (FY 13-14)
Plant & Machinery Cost for the Base
Year: (FY 13- 14)
Capital Cost escalation Factor
Plant & Machinery Cost for the nth Year
(FY 16-17)
540.00
580.00
590.00
630.00
406.02
3.52%
436.09
3.52%
443.61
3.52%
473.68
3.52%
420.33
451.46
459.24
490.38
Capital Cost for the nth Year (FY 2016-17)
559.03
600.44
610.80
652.20
43
Source of WPI (Steel and Electrical Machinery): Office of Economic
Advisor, Ministry of Commerce and Industry (www.eaindustry.nic.in)
* a.Project [other than rice straw and juliflora (plantation) based project]
withwater cooled condenser;
*b.Project [other than rice straw and Juliflora (plantation) based project] with air cooled
condenser;
*c. For rice straw and juliflora (plantation) based project with water cooled condenser;
*d. For rice straw and juliflora (plantation) based project with air cooled condenser.
44
Appendix-4
Capital cost of Indexation for Non-fossil fuel based Cogeneration Power Projects (FY 16-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) /
(a+b) P&M(n) =P&M(0)*(1+ d (n))
Variable
Description
Value
a
Weightage for Steel Index
0.70
b
Weightage for Electrical Machinery Index
0.30
F1
Factor for Land and Civil Work
0.10
F2
Factor for Erection and Commissioning
0.09
F3
Factor for IDC and Financing
0.14
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.036
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
Parameters
Description
Value
CC(0) (₹ L/MW)
Capital Cost for the Base Year
420.00
P&M(0)(₹ L/MW)
Plant & Machinery Cost for the Base Year
315.79
d(n)
Capital Cost escalation Factor
7.7
P&M(n) (₹ L/MW)
Plant & Machinery Cost for the nth Year (FY 2016-17)
340.41
CC(n)(₹ L/MW)
Capital Cost for the nth Year (FY2016-17)
452.75
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in)
45
Appendix-5
Capital cost of Indexation for Biomass Gasifier Power Projects (FY 2016-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) /
(a+b) P&M(n) =P&M(0)*(1+ d (n))
Variable
Description
Value
a
Weightage for Steel Index
0.70
b
Weightage for Electrical Machinery Index
0.30
F1
Factor for Land and Civil Work
0.10
F2
Factor for Erection and Commissioning
0.09
F3
Factor for IDC and Financing
0.14
Month/Year
January
February
March
ApriL
May
June
July
August
September
October
November
December
Average
Parameters
CC(0)(₹ L/MW)
P&M(0)(₹ L/MW)
d(n)
P&M(n)(₹ L/MW)
CC(n)(₹ L/MW)
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.036
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
Description
Value
Capital Cost for the Base Year
550.00
Plant & Machinery Cost for the Base Year
413.53
Capital Cost escalation Factor
7.797%
Plant & Machinery Cost for the nth Year (FY 2016-17)
445.78
Capital Cost for the nth Year (FY2016-17)
592.88
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in)
46
Appendix-6
Capital cost of Indexation for Biogas based Power Projects (FY 2016-17)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) /
(a+b) P&M(n) =P&M(0)*(1+ d (n))
Variable
Description
Value
A
Weightage for Steel Index
0.70
B
Weightage for Electrical Machinery Index
0.30
F1
Factor for Land and Civil Work
0.10
F2
Factor for Erection and Commissioning
0.09
F3
Factor for IDC and Financing
0.14
Month/Year
January
February
March
ApriL
May
June
July
August
September
October
November
December
Average
Parameters
CC(0) (₹ L/MW)
P&M(0)(₹ L/MW)
d(n)
P&M(n)(₹ L/MW)
CC(n)(₹ L/MW)
Electrical Machinery
2015
2011
139.00
125.10
139.00
125.10
138.20
126.40
137.90
127.20
137.90
127.60
138.20
128.00
138.30
128.70
138.40
129.20
138.40
130.90
138.30
130.60
138.30
130.80
131.00
138.355
128.383
Steel
2015
129.40
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.10
130.036
2011
118.60
113.00
113.00
113.00
113.00
119.60
126.20
126.20
126.20
126.20
126.20
126.20
120.617
Description
Value
Capital Cost for the Base Year
1100.00
Plant & Machinery Cost for the Base Year
827.07
Capital Cost escalation Factor
7.797%
Plant & Machinery Cost for the nth Year (FY 2016-17)
891.55
Capital Cost for the nth Year (FY2016-17)
1185.76
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in)
47
Appendix-7
Biomass Fuel Price across States for FY 2016-17
As per fuel price Index Mechanism outlined under Regulation 45 and the availability of
required information
Fuel Price indexation for Biomass Power Projects (FY2016-17)
Indexation Formulation:
P(n) = P(n-1)*{a*(WPI(n)/WPI(n-1))+b*(1+IRC(n-1))+c*(Pd(n)/Pd(n-1))}
Parameter
WPI n-1
WPI n
IRC n-1
Pd n-1
Pd n
a
b
c
State
Andhra
Pradesh
Haryana
Maharashtra
Punjab
Rajasthan
Tamil Nadu
Uttar Pradesh
Other States
Value
180.800
176.400
-1.91%
223.267
191.163
0.2
0.6
0.2
Biomass price
(Rs/MT)
2015-16
Biomass price
(Rs/MT)
2016-17
2940.31
3346.75
3422.95
3500.42
2921.25
2892.03
2991.10
3144.80
2807.74
3195.86
3268.62
3342.60
2789.54
2761.64
2856.25
3003.01
Note:
1. The Calculation of WPI (n) and WPI (n-1) is based on the figures available on April 2015 and
April 2014 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price of HSD) figures
available for the months from April 2015 to November2015.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI (Price of HSD)
figures available for the months from April 2014 to March 2015.
48
4.
The Calculation of Pd (n) and Pd (n-1) are shown as under:
WPI (Price of HSD) change as 2014-15 and 2015-16
Month
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Average
2015-16
195.60
209.60
212.00
200.80
179.40
174.00
176.50
181.40
191.163
2014-15
230.10
232.30
235.20
238.80
240.40
242.00
239.20
218.10
210.80
200.70
188.40
203.20
223.267
Source of WPI and WPI (Price of HSD): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in),
From
To
4/1/2015
9/30/2015
10/1/2015
3/31/2016
IRC
3.83%
-7.65%
Total
Days
183
Average IRC
-1.91%
183
366
Source of IRC: CERC (www.cercind.gov.in)
49
Appendix-8
Bagasse Fuel Price across States for FY 2016-17
As per fuel price Index Mechanism outlined under Regulation 54 and the availability
of required information comparison to be 2015-16 and projection for 2016-17
Fuel Price indexation for Bagasse Power Projects (FY2016-17)
Indexation Formulation
Pn = Pn-1*{a*(WPIn/WPIn-1)+b*(1+IRCn-1)+c*(Pdn/Pdn-1)}
Parameter
WPI n-1
WPI n
IRC n-1
Pd n-1
Pd n
a
b
c
State
Andhra
Pradesh
Haryana
Maharashtra
Punjab
Tamil Nadu
Uttar Pradesh
Other States
Value
180.800
176.400
-1.91%
223.267
191.163
0.2
0.6
0.2
Biomass price
(Rs/MT) 2015-16
Biomass price
(Rs/MT) 2016-17
1660.04
2361.13
1585.19
2254.67
2326.84
2077.90
1788.32
1851.82
2010.58
2221.93
1984.22
1707.69
1768.33
1919.93
Note:
1. The Calculation of WPI (n) and WPI (n-1) is based on the figures available on
April 2015 and April 2014 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price
of HSD) figures available for the months from April 2015 to November 2015.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI
(Price of HSD) figures available for the months from April 2014 to March 2015.
50
4.
The Calculation of Pd (n) and Pd (n-1) are shown as under:
Month
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Average
2015-16
195.60
209.60
212.00
200.80
179.40
174.00
176.50
181.40
2014-15
230.10
232.30
235.20
238.80
240.40
242.00
239.20
218.10
210.80
200.70
188.40
203.20
223.267
191.163
Source of WPI and WPI (Price of HSD): Office of Economic Advisor, Ministry of Commerce
and Industry (www.eaindustry.nic.in),
From
To
4/1/2015
9/30/2015
10/1/2015
3/31/2016
IRC
3.83%
-7.65%
Total
Days
183
Average IRC
-1.91%
183
366
Source of IRC: CERC (www.cercind.gov.in)
51
Appendix-9
Biomass Gasifier Fuel Price across States for FY 2016-17
As per fuel price Index Mechanism outlined under Regulation 74 and the availability
of required information
Fuel Price indexation for Biomass gasifier Power Projects (FY2016-17)
Indexation Formulation
Pn = Pn-1*{a*(WPIn/WPIn-1)+b*(1+IRCn-1)+c*(Pdn/Pdn-1)}
Parameter
WPI n-1
WPI n
IRC n-1
Pd n-1
Pd n
a
b
c
State
Andhra
Pradesh
Haryana
Maharashtra
Punjab
Rajasthan
Tamil Nadu
Uttar Pradesh
Other States
Value
180.800
176.400
-1.91%
223.267
191.163
0.2
0.6
0.2
Biomass Price
(Rs/MT) 2015-16
Biomass Price
(Rs/MT) 201617
2940.31
3346.75
3422.95
3500.42
2921.25
2892.03
2991.10
3144.80
2807.74
3195.86
3268.62
3342.60
2789.54
2761.64
2856.25
3003.01
Note:
1. The Calculation of WPI (n) and WPI (n-1) is based on the figures available on
April 2015 and April 2014 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price of
HSD) figures available for the months from April 2015 to November2015.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI (Price of
HSD) figures available for the months from April 2014 to March 2015.
52
4.
The Calculation of Pd (n) and Pd (n-1) are shown as under:
WPI (Price of HSD)
Month
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Average
2015-16
195.60
209.60
212.00
200.80
179.40
174.00
176.50
181.40
2014-15
230.10
232.30
235.20
238.80
240.40
242.00
239.20
218.10
210.80
200.70
188.40
203.20
223.267
191.163
Source of WPI and WPI (Price of HSD): Office of Economic Advisor,
Ministry of Commerce and Industry (www.eaindustry.nic.in),
From
To
4/1/2015
9/30/2015
10/1/2015
3/31/2016
IRC
3.83%
-7.65%
Total
Days
183
Average IRC
-1.91%
183
366
Source of IRC: CERC (www.cercind.gov.in)
53
Appendix-10
Fuel Price for Biogas based power plant for FY 2016-17
As per fuel price Index Mechanism outlined under Regulation 83 andthe availability of
required information
Fuel Price indexation for Biogas based power projects (FY2016-17)
Indexation Formulation
Pn = Pn-1*{a*(WPIn/WPIn-1)+b*(1+IRCn-1)+c*(Pdn/Pdn-1)}
Parameter
WPI n-1
WPI n
IRC n-1
Pd n-1
Pd n
a
b
c
Biogas price
(Rs/MT) 2015-16
1257.41
Value
180.800
176.400
-1.91%
223.267
191.163
0.2
0.6
0.2
Biogas price
(Rs/MT) 2016-17
1200.72
Note:
1.
The Calculation of WPI (n) and WPI (n-1) is based on the figures available
on April 2014 and April 2015 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI
(Price of HSD) figures available for the months from April 2015 to
November 2015.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI
(Price of HSD) figures available for the months from April 2014 to March
2015.
54
The Calculation of Pd (n) and Pd (n-1) are shown as under:
WPI (Price of HSD)
Month
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Average
2015-16
195.60
209.60
212.00
200.80
179.40
174.00
176.50
181.40
2014-15
230.10
232.30
235.20
238.80
240.40
242.00
239.20
218.10
210.80
200.70
188.40
203.20
223.267
191.163
Source of WPI and WPI (Price of HSD): Office of Economic Advisor,
Ministry of Commerce and Industry (www.eaindustry.nic.in),
From
To
4/1/2015
9/30/2015
10/1/2015
3/31/2016
IRC
3.83%
-7.65%
Total
Days
183
Average IRC
-1.91%
183
366
Source of IRC: CERC (www.cercind.gov.in)
55
Annexure 1 A
Wind Energy Projects
Assumptions: Wind Energy Projects
S. No.
Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Wind Zone
1
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Useful Life
MW
%
Years
1
20%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
433.865
185.942
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
433.86
0
12
12.76%
Rs Lacs
% p.a
Year
185.94
20.00%
10
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.70%
Income Tax
%
33.990%
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
619.807
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
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
O &M (FY16-17)
Total O & M Expenses Escalation
O &M (FY12-13)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.26%
11.24
5.72%
9.00
56
Determination of Tariff
1
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
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
11.24
36.13
53.06
3.47
37.19
141.09
2
11.89
36.13
48.45
3.40
37.19
137.05
5
12.57
36.13
43.83
3.33
37.19
133.05
6
13.28
36.13
39.22
3.26
37.19
129.09
7
14.04
36.13
34.61
3.20
37.19
125.17
8
14.85
36.13
29.99
3.14
37.19
121.30
9
15.70
36.13
25.38
3.08
37.19
117.48
10
16.59
36.13
20.76
3.03
37.19
113.71
11
17.54
36.13
16.15
2.97
37.19
109.99
12
18.55
36.13
11.54
2.92
37.19
106.33
13
19.61
36.13
6.92
3.05
44.63
110.34
14
20.73
36.13
2.31
3.00
44.63
106.80
15
21.92
9.55
0.00
2.41
44.63
78.51
16
23.17
9.55
0.00
2.48
44.63
79.83
17
24.49
9.55
0.00
2.55
44.63
81.23
18
25.90
9.55
0.00
2.63
44.63
82.71
19
27.38
9.55
0.00
2.71
44.63
84.27
20
28.94
9.55
0.00
2.79
44.63
85.92
21
30.60
9.55
0.00
2.88
44.63
87.66
22
32.35
9.55
0.00
2.98
44.63
89.51
23
34.20
9.55
0.00
3.08
44.63
91.46
24
36.16
9.55
0.00
3.19
44.63
93.52
25
38.22
9.55
0.00
3.30
44.63
95.70
26
40.41
9.55
0.00
3.42
44.63
98.01
27
42.72
9.55
0.00
3.54
44.63
100.44
1
0.64
2.06
3.03
0.20
2.12
8.05
5.93
2
0.68
2.06
2.77
0.19
2.12
7.82
5.70
3
0.72
2.06
2.50
0.19
2.12
7.59
5.47
4
0.76
2.06
2.24
0.19
2.12
7.37
5.25
5
0.80
2.06
1.98
0.18
2.12
7.14
5.02
6
0.85
2.06
1.71
0.18
2.12
6.92
4.80
7
0.90
2.06
1.45
0.18
2.12
6.71
4.58
8
0.95
2.06
1.19
0.17
2.12
6.49
4.37
9
1.00
2.06
0.92
0.17
2.12
6.28
4.16
10
1.06
2.06
0.66
0.17
2.12
6.07
3.95
11
1.12
2.06
0.40
0.17
2.55
6.30
3.75
12
1.18
2.06
0.13
0.17
2.55
6.10
3.55
13
1.25
0.55
0.00
0.14
2.55
4.48
1.93
14
1.32
0.55
0.00
0.14
2.55
4.56
2.01
15
1.40
0.55
0.00
0.15
2.55
4.64
2.09
16
1.48
0.55
0.00
0.15
2.55
4.72
2.17
17
1.56
0.55
0.00
0.15
2.55
4.81
2.26
18
1.65
0.55
0.00
0.16
2.55
4.90
2.36
19
1.75
0.55
0.00
0.16
2.55
5.00
2.46
20
1.85
0.55
0.00
0.17
2.55
5.11
2.56
21
1.95
0.55
0.00
0.18
2.55
5.22
2.67
22
2.06
0.55
0.00
0.18
2.55
5.34
2.79
23
2.18
0.55
0.00
0.19
2.55
5.46
2.92
24
2.31
0.55
0.00
0.20
2.55
5.59
3.05
25
2.44
0.55
0.00
0.20
2.55
5.73
3.19
Units Generation
Installed Capacity
Gross/Net Generation
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
1.02
Depreciation
Rs/kWh
1.71
Int. on term loan
Rs/kWh
1.45
Int. on working capital
Rs/kWh
0.18
RoE
Rs/kWh
2.25
Total COG
Rs/kWh
6.61
COG excl. RoE
Levellised
Discount Factor
Levellised Tariff
6.61
1
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Rs/Unit
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
80%
20.00%
33.990%
619.807
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.36
2
5.28%
32.73
3
5.28%
32.73
4
5
5.28% 5.28%
32.73 32.73
6
5.28%
32.73
7
5.28%
32.73
8
5.28%
32.73
9
5.28%
32.73
10
5.28%
32.73
11
5.28%
32.73
12
5.28%
32.73
13
5.28%
32.73
14
5.28%
32.73
15
5.28%
32.73
16
5.28%
32.73
17
5.28%
32.73
18
2.88%
17.85
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50%
309.90
50.00%
45.00%
5%
278.91
5.00%
4.00%
1.00%
24.79
1.00% 0.20%
0.80% 0.16%
0.20% 0.04%
4.96
0.99
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Rs Lakh
293.54
Tax Benefit
Rs Lakh
99.77
Energy generation
MU
0.88
Per unit benefit
Rs/Unit
11.39
Discounting Factor
1.00
Tax Benefit Levellised
11.66
Electricity
1.66 Rs/Unit
LevellisedGeneration
benefit (Levellised)
1.27
Levellised benefit
Rs/Unit
0.70
246.19
83.68
1.75
4.78
0.95
5.34
-7.93
-2.70
1.75
-0.15
0.86
-27.77 -31.73
-9.44 -10.79
1.75
1.75
-0.54 -0.62
0.78
0.70
-32.53
-11.06
1.75
-0.63
0.63
-32.69
-11.11
1.75
-0.63
0.57
-32.72
-11.12
1.75
-0.63
0.52
-32.72
-11.12
1.75
-0.63
0.47
-32.73
-11.12
1.75
-0.63
0.42
-32.73
-11.12
1.75
-0.63
0.38
-32.73
-11.12
1.75
-0.63
0.34
-32.73
-11.12
1.75
-0.63
0.31
-32.73
-11.12
1.75
-0.63
0.28
-32.73
-11.12
1.75
-0.63
0.25
-32.73
-11.12
1.75
-0.63
0.23
-32.73
-11.12
1.75
-0.63
0.21
-17.85
-6.07
1.75
-0.35
0.19
0.00
0.00
1.75
0.00
0.17
0.00
0.00
1.75
0.00
0.15
57
Annexure 1 B
Assumptions: Wind Energy Projects
S. No.
Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Wind Zone
2
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Useful Life
MW
%
Years
1
22%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
433.865
185.942
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
433.86
0
12
12.76%
Rs Lacs
% p.a
Year
185.94
20.00%
10
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.70%
Income Tax
%
33.990%
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
619.807
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
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
O &M (FY16-17)
Total O & M Expenses Escalation
O &M (FY12-13)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.26%
11.24
5.72%
9.00
58
Determination of Tariff
1
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Unit
MW
MU
Year--->
1
1
1.93
2
1
1.93
3
1
1.93
4
1
1.93
5
1
1.93
6
1
1.93
7
1
1.93
8
1
1.93
9
1
1.93
10
1
1.93
11
1
1.93
12
1
1.93
13
1
1.93
14
1
1.93
15
1
1.93
16
1
1.93
17
1
1.93
18
1
1.93
19
1
1.93
20
1
1.93
21
1
1.93
22
1
1.93
23
1
1.93
24
1
1.93
25
1
1.93
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
11.24
36.13
53.06
3.47
37.19
141.09
2
11.89
36.13
48.45
3.40
37.19
137.05
5
12.57
36.13
43.83
3.33
37.19
133.05
6
13.28
36.13
39.22
3.26
37.19
129.09
7
14.04
36.13
34.61
3.20
37.19
125.17
8
14.85
36.13
29.99
3.14
37.19
121.30
9
15.70
36.13
25.38
3.08
37.19
117.48
10
16.59
36.13
20.76
3.03
37.19
113.71
11
17.54
36.13
16.15
2.97
37.19
109.99
12
18.55
36.13
11.54
2.92
37.19
106.33
13
19.61
36.13
6.92
3.05
44.63
110.34
14
20.73
36.13
2.31
3.00
44.63
106.80
15
21.92
9.55
0.00
2.41
44.63
78.51
16
23.17
9.55
0.00
2.48
44.63
79.83
17
24.49
9.55
0.00
2.55
44.63
81.23
18
25.90
9.55
0.00
2.63
44.63
82.71
19
27.38
9.55
0.00
2.71
44.63
84.27
20
28.94
9.55
0.00
2.79
44.63
85.92
21
30.60
9.55
0.00
2.88
44.63
87.66
22
32.35
9.55
0.00
2.98
44.63
89.51
23
34.20
9.55
0.00
3.08
44.63
91.46
24
36.16
9.55
0.00
3.19
44.63
93.52
25
38.22
9.55
0.00
3.30
44.63
95.70
26
40.41
9.55
0.00
3.42
44.63
98.01
27
42.72
9.55
0.00
3.54
44.63
100.44
1
0.58
1.87
2.75
0.18
1.93
7.32
5.39
2
0.62
1.87
2.51
0.18
1.93
7.11
5.18
3
0.65
1.87
2.27
0.17
1.93
6.90
4.97
4
0.69
1.87
2.04
0.17
1.93
6.70
4.77
5
0.73
1.87
1.80
0.17
1.93
6.50
4.57
6
0.77
1.87
1.56
0.16
1.93
6.29
4.36
7
0.81
1.87
1.32
0.16
1.93
6.10
4.17
8
0.86
1.87
1.08
0.16
1.93
5.90
3.97
9
0.91
1.87
0.84
0.15
1.93
5.71
3.78
10
0.96
1.87
0.60
0.15
1.93
5.52
3.59
11
1.02
1.87
0.36
0.16
2.32
5.73
3.41
12
1.08
1.87
0.12
0.16
2.32
5.54
3.23
13
1.14
0.50
0.00
0.13
2.32
4.07
1.76
14
1.20
0.50
0.00
0.13
2.32
4.14
1.83
15
1.27
0.50
0.00
0.13
2.32
4.21
1.90
16
1.34
0.50
0.00
0.14
2.32
4.29
1.98
17
1.42
0.50
0.00
0.14
2.32
4.37
2.06
18
1.50
0.50
0.00
0.15
2.32
4.46
2.14
19
1.59
0.50
0.00
0.15
2.32
4.55
2.23
20
1.68
0.50
0.00
0.15
2.32
4.64
2.33
21
1.77
0.50
0.00
0.16
2.32
4.75
2.43
22
1.88
0.50
0.00
0.17
2.32
4.85
2.54
23
1.98
0.50
0.00
0.17
2.32
4.97
2.65
24
2.10
0.50
0.00
0.18
2.32
5.09
2.77
25
2.22
0.50
0.00
0.18
2.32
5.21
2.90
Units Generation
Installed Capacity
Gross/Net Generation
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
0.93
Depreciation
Rs/kWh
1.55
Int. on term loan
Rs/kWh
1.32
Int. on working capital
Rs/kWh
0.16
RoE
Rs/kWh
2.05
Total COG
Rs/kWh
6.01
COG excl. RoE
Levellised
Discount Factor
Levellised Tariff
6.01
1
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Rs/Unit
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
80%
20.00%
33.990%
619.807
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.36
2
5.28%
32.73
3
5.28%
32.73
4
5
5.28% 5.28%
32.73 32.73
6
5.28%
32.73
7
5.28%
32.73
8
5.28%
32.73
9
5.28%
32.73
10
5.28%
32.73
11
5.28%
32.73
12
5.28%
32.73
13
5.28%
32.73
14
5.28%
32.73
15
5.28%
32.73
16
5.28%
32.73
17
5.28%
32.73
18
2.88%
17.85
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50%
309.90
50.00%
45.00%
5%
278.91
5.00%
4.00%
1.00%
24.79
1.00% 0.20%
0.80% 0.16%
0.20% 0.04%
4.96
0.99
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Rs Lakh
293.54
Tax Benefit
Rs Lakh
99.77
Energy generation
MU
0.96
Per unit benefit
Rs/Unit
10.35
Discounting Factor
1.00
Tax Benefit Levellised
11.66
Electricity Generation
1.82 Rs/Unit
Levellised
benefit (Levellised)
1.16
Levellised benefit
Rs/Unit
0.64
246.19
83.68
1.93
4.34
0.95
4.85
-7.93
-2.70
1.93
-0.14
0.86
-27.77 -31.73
-9.44 -10.79
1.93
1.93
-0.49 -0.56
0.78
0.70
-32.53
-11.06
1.93
-0.57
0.63
-32.69
-11.11
1.93
-0.58
0.57
-32.72
-11.12
1.93
-0.58
0.52
-32.72
-11.12
1.93
-0.58
0.47
-32.73
-11.12
1.93
-0.58
0.42
-32.73
-11.12
1.93
-0.58
0.38
-32.73
-11.12
1.93
-0.58
0.34
-32.73
-11.12
1.93
-0.58
0.31
-32.73
-11.12
1.93
-0.58
0.28
-32.73
-11.12
1.93
-0.58
0.25
-32.73
-11.12
1.93
-0.58
0.23
-32.73
-11.12
1.93
-0.58
0.21
-17.85
-6.07
1.93
-0.31
0.19
0.00
0.00
1.93
0.00
0.17
0.00
0.00
1.93
0.00
0.15
59
Annexure 1 C
Assumptions: Wind Energy Projects
S. No.
Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Wind Zone
3
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Useful Life
MW
%
Years
1
25%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
433.865
185.942
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
433.86
0
12
12.76%
Rs Lacs
% p.a
Year
185.94
20.00%
10
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.70%
Income Tax
%
33.990%
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
619.807
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
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
O &M (FY16-17)
Total O & M Expenses Escalation
O &M (FY12-13)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.26%
11.24
5.72%
9.00
60
Determination of Tariff
1
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Unit
MW
MU
Year--->
1
1
2.19
2
1
2.19
3
1
2.19
4
1
2.19
5
1
2.19
6
1
2.19
7
1
2.19
8
1
2.19
9
1
2.19
10
1
2.19
11
1
2.19
12
1
2.19
13
1
2.19
14
1
2.19
15
1
2.19
16
1
2.19
17
1
2.19
18
1
2.19
19
1
2.19
20
1
2.19
21
1
2.19
22
1
2.19
23
1
2.19
24
1
2.19
25
1
2.19
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
11.24
36.13
53.06
3.47
37.19
141.09
2
11.89
36.13
48.45
3.40
37.19
137.05
5
12.57
36.13
43.83
3.33
37.19
133.05
6
13.28
36.13
39.22
3.26
37.19
129.09
7
14.04
36.13
34.61
3.20
37.19
125.17
8
14.85
36.13
29.99
3.14
37.19
121.30
9
15.70
36.13
25.38
3.08
37.19
117.48
10
16.59
36.13
20.76
3.03
37.19
113.71
11
17.54
36.13
16.15
2.97
37.19
109.99
12
18.55
36.13
11.54
2.92
37.19
106.33
13
19.61
36.13
6.92
3.05
44.63
110.34
14
20.73
36.13
2.31
3.00
44.63
106.80
15
21.92
9.55
0.00
2.41
44.63
78.51
16
23.17
9.55
0.00
2.48
44.63
79.83
17
24.49
9.55
0.00
2.55
44.63
81.23
18
25.90
9.55
0.00
2.63
44.63
82.71
19
27.38
9.55
0.00
2.71
44.63
84.27
20
28.94
9.55
0.00
2.79
44.63
85.92
21
30.60
9.55
0.00
2.88
44.63
87.66
22
32.35
9.55
0.00
2.98
44.63
89.51
23
34.20
9.55
0.00
3.08
44.63
91.46
24
36.16
9.55
0.00
3.19
44.63
93.52
25
38.22
9.55
0.00
3.30
44.63
95.70
26
40.41
9.55
0.00
3.42
44.63
98.01
27
42.72
9.55
0.00
3.54
44.63
100.44
1
0.51
1.65
2.42
0.16
1.70
6.44
4.74
2
0.54
1.65
2.21
0.16
1.70
6.26
4.56
3
0.57
1.65
2.00
0.15
1.70
6.08
4.38
4
0.61
1.65
1.79
0.15
1.70
5.89
4.20
5
0.64
1.65
1.58
0.15
1.70
5.72
4.02
6
0.68
1.65
1.37
0.14
1.70
5.54
3.84
7
0.72
1.65
1.16
0.14
1.70
5.36
3.67
8
0.76
1.65
0.95
0.14
1.70
5.19
3.49
9
0.80
1.65
0.74
0.14
1.70
5.02
3.32
10
0.85
1.65
0.53
0.13
1.70
4.86
3.16
11
0.90
1.65
0.32
0.14
2.04
5.04
3.00
12
0.95
1.65
0.11
0.14
2.04
4.88
2.84
13
1.00
0.44
0.00
0.11
2.04
3.58
1.55
14
1.06
0.44
0.00
0.11
2.04
3.65
1.61
15
1.12
0.44
0.00
0.12
2.04
3.71
1.67
16
1.18
0.44
0.00
0.12
2.04
3.78
1.74
17
1.25
0.44
0.00
0.12
2.04
3.85
1.81
18
1.32
0.44
0.00
0.13
2.04
3.92
1.89
19
1.40
0.44
0.00
0.13
2.04
4.00
1.97
20
1.48
0.44
0.00
0.14
2.04
4.09
2.05
21
1.56
0.44
0.00
0.14
2.04
4.18
2.14
22
1.65
0.44
0.00
0.15
2.04
4.27
2.23
23
1.75
0.44
0.00
0.15
2.04
4.37
2.33
24
1.85
0.44
0.00
0.16
2.04
4.48
2.44
25
1.95
0.44
0.00
0.16
2.04
4.59
2.55
Units Generation
Installed Capacity
Gross/Net Generation
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
0.82
Depreciation
Rs/kWh
1.36
Int. on term loan
Rs/kWh
1.16
Int. on working capital
Rs/kWh
0.14
RoE
Rs/kWh
1.80
Total COG
Rs/kWh
5.29
COG excl. RoE
Levellised
Discount Factor
Levellised Tariff
5.29
1
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Rs/Unit
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
80%
20.00%
33.990%
619.807
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.36
2
5.28%
32.73
3
5.28%
32.73
4
5
5.28% 5.28%
32.73 32.73
6
5.28%
32.73
7
5.28%
32.73
8
5.28%
32.73
9
5.28%
32.73
10
5.28%
32.73
11
5.28%
32.73
12
5.28%
32.73
13
5.28%
32.73
14
5.28%
32.73
15
5.28%
32.73
16
5.28%
32.73
17
5.28%
32.73
18
2.88%
17.85
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50%
309.90
50.00%
45.00%
5%
278.91
5.00%
4.00%
1.00%
24.79
1.00% 0.20%
0.80% 0.16%
0.20% 0.04%
4.96
0.99
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Rs Lakh
293.54
Tax Benefit
Rs Lakh
99.77
Energy generation
MU
1.10
Per unit benefit
Rs/Unit
9.11
Discounting Factor
1.00
Tax Benefit Levellised
11.66
Electricity Generation
2.07 Rs/Unit
Levellised
benefit (Levellised)
1.02
Levellised benefit
Rs/Unit
0.56
246.19
83.68
2.19
3.82
0.95
4.27
-7.93
-2.70
2.19
-0.12
0.86
-27.77 -31.73
-9.44 -10.79
2.19
2.19
-0.43 -0.49
0.78
0.70
-32.53
-11.06
2.19
-0.50
0.63
-32.69
-11.11
2.19
-0.51
0.57
-32.72
-11.12
2.19
-0.51
0.52
-32.72
-11.12
2.19
-0.51
0.47
-32.73
-11.12
2.19
-0.51
0.42
-32.73
-11.12
2.19
-0.51
0.38
-32.73
-11.12
2.19
-0.51
0.34
-32.73
-11.12
2.19
-0.51
0.31
-32.73
-11.12
2.19
-0.51
0.28
-32.73
-11.12
2.19
-0.51
0.25
-32.73
-11.12
2.19
-0.51
0.23
-32.73
-11.12
2.19
-0.51
0.21
-17.85
-6.07
2.19
-0.28
0.19
0.00
0.00
2.19
0.00
0.17
0.00
0.00
2.19
0.00
0.15
61
Annexure 1 D
Assumptions: Wind Energy Projects
S. No.
Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Wind Zone
4
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Useful Life
MW
%
Years
1
30%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
433.865
185.942
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
433.86
0
12
12.76%
Rs Lacs
% p.a
Year
185.94
20.00%
10
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.70%
Income Tax
%
33.990%
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
619.807
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
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
O &M (FY16-17)
Total O & M Expenses Escalation
O &M (FY12-13)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.26%
11.24
5.72%
9.00
62
Determination of Tariff
1
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Unit
MW
MU
Year--->
1
1
2.63
2
1
2.63
3
1
2.63
4
1
2.63
5
1
2.63
6
1
2.63
7
1
2.63
8
1
2.63
9
1
2.63
10
1
2.63
11
1
2.63
12
1
2.63
13
1
2.63
14
1
2.63
15
1
2.63
16
1
2.63
17
1
2.63
18
1
2.63
19
1
2.63
20
1
2.63
21
1
2.63
22
1
2.63
23
1
2.63
24
1
2.63
25
1
2.63
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
11.24
36.13
53.06
3.47
37.19
141.09
2
11.89
36.13
48.45
3.40
37.19
137.05
5
12.57
36.13
43.83
3.33
37.19
133.05
6
13.28
36.13
39.22
3.26
37.19
129.09
7
14.04
36.13
34.61
3.20
37.19
125.17
8
14.85
36.13
29.99
3.14
37.19
121.30
9
15.70
36.13
25.38
3.08
37.19
117.48
10
16.59
36.13
20.76
3.03
37.19
113.71
11
17.54
36.13
16.15
2.97
37.19
109.99
12
18.55
36.13
11.54
2.92
37.19
106.33
13
19.61
36.13
6.92
3.05
44.63
110.34
14
20.73
36.13
2.31
3.00
44.63
106.80
15
21.92
9.55
0.00
2.41
44.63
78.51
16
23.17
9.55
0.00
2.48
44.63
79.83
17
24.49
9.55
0.00
2.55
44.63
81.23
18
25.90
9.55
0.00
2.63
44.63
82.71
19
27.38
9.55
0.00
2.71
44.63
84.27
20
28.94
9.55
0.00
2.79
44.63
85.92
21
30.60
9.55
0.00
2.88
44.63
87.66
22
32.35
9.55
0.00
2.98
44.63
89.51
23
34.20
9.55
0.00
3.08
44.63
91.46
24
36.16
9.55
0.00
3.19
44.63
93.52
25
38.22
9.55
0.00
3.30
44.63
95.70
26
40.41
9.55
0.00
3.42
44.63
98.01
27
42.72
9.55
0.00
3.54
44.63
100.44
1
0.43
1.37
2.02
0.13
1.42
5.37
3.95
2
0.45
1.37
1.84
0.13
1.42
5.22
3.80
3
0.48
1.37
1.67
0.13
1.42
5.06
3.65
4
0.51
1.37
1.49
0.12
1.42
4.91
3.50
5
0.53
1.37
1.32
0.12
1.42
4.76
3.35
6
0.56
1.37
1.14
0.12
1.42
4.62
3.20
7
0.60
1.37
0.97
0.12
1.42
4.47
3.06
8
0.63
1.37
0.79
0.12
1.42
4.33
2.91
9
0.67
1.37
0.61
0.11
1.42
4.19
2.77
10
0.71
1.37
0.44
0.11
1.42
4.05
2.63
11
0.75
1.37
0.26
0.12
1.70
4.20
2.50
12
0.79
1.37
0.09
0.11
1.70
4.06
2.37
13
0.83
0.36
0.00
0.09
1.70
2.99
1.29
14
0.88
0.36
0.00
0.09
1.70
3.04
1.34
15
0.93
0.36
0.00
0.10
1.70
3.09
1.39
16
0.99
0.36
0.00
0.10
1.70
3.15
1.45
17
1.04
0.36
0.00
0.10
1.70
3.21
1.51
18
1.10
0.36
0.00
0.11
1.70
3.27
1.57
19
1.16
0.36
0.00
0.11
1.70
3.34
1.64
20
1.23
0.36
0.00
0.11
1.70
3.41
1.71
21
1.30
0.36
0.00
0.12
1.70
3.48
1.78
22
1.38
0.36
0.00
0.12
1.70
3.56
1.86
23
1.45
0.36
0.00
0.13
1.70
3.64
1.94
24
1.54
0.36
0.00
0.13
1.70
3.73
2.03
25
1.63
0.36
0.00
0.13
1.70
3.82
2.12
Units Generation
Installed Capacity
Gross/Net Generation
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
0.68
Depreciation
Rs/kWh
1.14
Int. on term loan
Rs/kWh
0.96
Int. on working capital
Rs/kWh
0.12
RoE
Rs/kWh
1.50
Total COG
Rs/kWh
4.40
COG excl. RoE
Levellised
Discount Factor
Levellised Tariff
4.40
1
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Rs/Unit
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
80%
20.00%
33.990%
619.807
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.36
2
5.28%
32.73
3
5.28%
32.73
4
5
5.28% 5.28%
32.73 32.73
6
5.28%
32.73
7
5.28%
32.73
8
5.28%
32.73
9
5.28%
32.73
10
5.28%
32.73
11
5.28%
32.73
12
5.28%
32.73
13
5.28%
32.73
14
5.28%
32.73
15
5.28%
32.73
16
5.28%
32.73
17
5.28%
32.73
18
2.88%
17.85
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50%
309.90
50.00%
45.00%
5%
278.91
5.00%
4.00%
1.00%
24.79
1.00% 0.20%
0.80% 0.16%
0.20% 0.04%
4.96
0.99
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Rs Lakh
293.54
Tax Benefit
Rs Lakh
99.77
Energy generation
MU
1.31
Per unit benefit
Rs/Unit
7.59
Discounting Factor
1.00
Tax Benefit Levellised
11.66
Electricity Generation
2.49 Rs/Unit
Levellised
benefit (Levellised)
0.85
Levellised benefit
Rs/Unit
0.47
246.19
83.68
2.63
3.18
0.95
3.56
-7.93
-2.70
2.63
-0.10
0.86
-27.77 -31.73
-9.44 -10.79
2.63
2.63
-0.36 -0.41
0.78
0.70
-32.53
-11.06
2.63
-0.42
0.63
-32.69
-11.11
2.63
-0.42
0.57
-32.72
-11.12
2.63
-0.42
0.52
-32.72
-11.12
2.63
-0.42
0.47
-32.73
-11.12
2.63
-0.42
0.42
-32.73
-11.12
2.63
-0.42
0.38
-32.73
-11.12
2.63
-0.42
0.34
-32.73
-11.12
2.63
-0.42
0.31
-32.73
-11.12
2.63
-0.42
0.28
-32.73
-11.12
2.63
-0.42
0.25
-32.73
-11.12
2.63
-0.42
0.23
-32.73
-11.12
2.63
-0.42
0.21
-17.85
-6.07
2.63
-0.23
0.19
0.00
0.00
2.63
0.00
0.17
0.00
0.00
2.63
0.00
0.15
63
Annexure 1 E
Assumptions: Wind Energy Projects
S. No.
Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Wind Zone
5
Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Useful Life
MW
%
Years
1
32%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
433.865
185.942
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
433.86
0
12
12.76%
Rs Lacs
% p.a
Year
185.94
20.00%
10
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.70%
Income Tax
%
33.990%
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
619.807
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
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
O &M (FY16-17)
Total O & M Expenses Escalation
O &M (FY12-13)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.26%
11.24
5.72%
9.00
64
Determination of Tariff
1
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
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
11.24
36.13
53.06
3.47
37.19
141.09
2
11.89
36.13
48.45
3.40
37.19
137.05
5
12.57
36.13
43.83
3.33
37.19
133.05
6
13.28
36.13
39.22
3.26
37.19
129.09
7
14.04
36.13
34.61
3.20
37.19
125.17
8
14.85
36.13
29.99
3.14
37.19
121.30
9
15.70
36.13
25.38
3.08
37.19
117.48
10
16.59
36.13
20.76
3.03
37.19
113.71
11
17.54
36.13
16.15
2.97
37.19
109.99
12
18.55
36.13
11.54
2.92
37.19
106.33
13
19.61
36.13
6.92
3.05
44.63
110.34
14
20.73
36.13
2.31
3.00
44.63
106.80
15
21.92
9.55
0.00
2.41
44.63
78.51
16
23.17
9.55
0.00
2.48
44.63
79.83
17
24.49
9.55
0.00
2.55
44.63
81.23
18
25.90
9.55
0.00
2.63
44.63
82.71
19
27.38
9.55
0.00
2.71
44.63
84.27
20
28.94
9.55
0.00
2.79
44.63
85.92
21
30.60
9.55
0.00
2.88
44.63
87.66
22
32.35
9.55
0.00
2.98
44.63
89.51
23
34.20
9.55
0.00
3.08
44.63
91.46
24
36.16
9.55
0.00
3.19
44.63
93.52
25
38.22
9.55
0.00
3.30
44.63
95.70
26
40.41
9.55
0.00
3.42
44.63
98.01
27
42.72
9.55
0.00
3.54
44.63
100.44
1
0.40
1.29
1.89
0.12
1.33
5.03
3.71
2
0.42
1.29
1.73
0.12
1.33
4.89
3.56
3
0.45
1.29
1.56
0.12
1.33
4.75
3.42
4
0.47
1.29
1.40
0.12
1.33
4.61
3.28
5
0.50
1.29
1.23
0.11
1.33
4.47
3.14
6
0.53
1.29
1.07
0.11
1.33
4.33
3.00
7
0.56
1.29
0.91
0.11
1.33
4.19
2.86
8
0.59
1.29
0.74
0.11
1.33
4.06
2.73
9
0.63
1.29
0.58
0.11
1.33
3.92
2.60
10
0.66
1.29
0.41
0.10
1.33
3.79
2.47
11
0.70
1.29
0.25
0.11
1.59
3.94
2.34
12
0.74
1.29
0.08
0.11
1.59
3.81
2.22
13
0.78
0.34
0.00
0.09
1.59
2.80
1.21
14
0.83
0.34
0.00
0.09
1.59
2.85
1.26
15
0.87
0.34
0.00
0.09
1.59
2.90
1.31
16
0.92
0.34
0.00
0.09
1.59
2.95
1.36
17
0.98
0.34
0.00
0.10
1.59
3.01
1.41
18
1.03
0.34
0.00
0.10
1.59
3.07
1.47
19
1.09
0.34
0.00
0.10
1.59
3.13
1.54
20
1.15
0.34
0.00
0.11
1.59
3.19
1.60
21
1.22
0.34
0.00
0.11
1.59
3.26
1.67
22
1.29
0.34
0.00
0.11
1.59
3.34
1.74
23
1.36
0.34
0.00
0.12
1.59
3.41
1.82
24
1.44
0.34
0.00
0.12
1.59
3.50
1.90
25
1.52
0.34
0.00
0.13
1.59
3.58
1.99
Units Generation
Installed Capacity
Gross/Net Generation
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
0.64
Depreciation
Rs/kWh
1.07
Int. on term loan
Rs/kWh
0.90
Int. on working capital
Rs/kWh
0.11
RoE
Rs/kWh
1.41
Total COG
Rs/kWh
4.13
COG excl. RoE
Levellised
Discount Factor
Levellised Tariff
4.13
1
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
Rs/Unit
Determination of Accelerated Depreciation for Wind Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
80%
20.00%
33.990%
619.807
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.36
2
5.28%
32.73
3
5.28%
32.73
4
5
5.28% 5.28%
32.73 32.73
6
5.28%
32.73
7
5.28%
32.73
8
5.28%
32.73
9
5.28%
32.73
10
5.28%
32.73
11
5.28%
32.73
12
5.28%
32.73
13
5.28%
32.73
14
5.28%
32.73
15
5.28%
32.73
16
5.28%
32.73
17
5.28%
32.73
18
2.88%
17.85
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50%
309.90
50.00%
45.00%
5%
278.91
5.00%
4.00%
1.00%
24.79
1.00% 0.20%
0.80% 0.16%
0.20% 0.04%
4.96
0.99
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Rs Lakh
293.54
Tax Benefit
Rs Lakh
99.77
Energy generation
MU
1.40
Per unit benefit
Rs/Unit
7.12
Discounting Factor
1.00
Tax Benefit Levellised
11.66
Electricity Generation
2.65 Rs/Unit
Levellised
benefit (Levellised)
0.79
Levellised benefit
Rs/Unit
0.44
246.19
83.68
2.80
2.99
0.95
3.33
-7.93
-2.70
2.80
-0.10
0.86
-27.77 -31.73
-9.44 -10.79
2.80
2.80
-0.34 -0.38
0.78
0.70
-32.53
-11.06
2.80
-0.39
0.63
-32.69
-11.11
2.80
-0.40
0.57
-32.72
-11.12
2.80
-0.40
0.52
-32.72
-11.12
2.80
-0.40
0.47
-32.73
-11.12
2.80
-0.40
0.42
-32.73
-11.12
2.80
-0.40
0.38
-32.73
-11.12
2.80
-0.40
0.34
-32.73
-11.12
2.80
-0.40
0.31
-32.73
-11.12
2.80
-0.40
0.28
-32.73
-11.12
2.80
-0.40
0.25
-32.73
-11.12
2.80
-0.40
0.23
-32.73
-11.12
2.80
-0.40
0.21
-17.85
-6.07
2.80
-0.22
0.19
0.00
0.00
2.80
0.00
0.17
0.00
0.00
2.80
0.00
0.15
65
Annexure 2A
Small Hydro Projects
66
Determination of Tariff Component:
Year--->
Units Generation
Unit
Installed Capacity
MW
Net Generation
MU
1
1
3.90
Fixed Cost
Unit
Year--->
1
31.23
O&M Expenses
Rs Lakh
48.39
Depreciation
Rs Lakh
71.06
Interest on term loan Rs Lakh
5.52
Interest on working Capital
Rs Lakh
49.80
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
205.99
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised 1
0.80
1.42
O&M expn
Rs/kWh
1.24
0.95
Depreciation
Rs/kWh
1.82
0.82
Int. on term loan
Rs/kWh
0.14
0.15
Int. on working capital Rs/kWh
1.28
1.36
RoE
Rs/kWh
Total COG
Rs/kWh
4.70
5.28
Levellised
Discount Factor
1
Levellised Tariff
4.70
Rs/Unit
2
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
36
1
3.90
2
33.02
48.39
64.88
5.48
49.80
201.56
3
34.90
48.39
58.70
5.44
49.80
197.23
4
36.90
48.39
52.52
5.41
49.80
193.02
5
39.01
48.39
46.34
5.38
49.80
188.93
6
41.24
48.39
40.16
5.36
49.80
184.96
7
43.60
48.39
33.98
5.35
49.80
181.13
8
46.10
48.39
27.80
5.35
49.80
177.44
9
48.73
48.39
21.63
5.35
49.80
173.90
10
51.52
48.39
15.45
5.36
49.80
170.52
11
54.47
48.39
9.27
5.61
59.76
177.49
12
57.58
48.39
3.09
5.64
59.76
174.46
13
60.88
7.23
0.00
4.82
59.76
132.69
14
64.36
7.23
0.00
5.01
59.76
136.36
15
68.04
7.23
0.00
5.21
59.76
140.24
16
71.93
7.23
0.00
5.42
59.76
144.34
17
76.05
7.23
0.00
5.64
59.76
148.68
18
80.40
7.23
0.00
5.88
59.76
153.26
19
85.00
7.23
0.00
6.12
59.76
158.11
20
89.86
7.23
0.00
6.39
59.76
163.24
21
95.00
7.23
0.00
6.67
59.76
168.66
22
100.43
7.23
0.00
6.96
59.76
174.39
23
106.18
7.23
0.00
7.27
59.76
180.44
24
112.25
7.23
0.00
7.60
59.76
186.84
25
118.67
7.23
0.00
7.95
59.76
193.61
26
125.46
7.23
0.00
8.32
59.76
200.77
27
132.63
7.23
0.00
8.71
59.76
208.33
28
140.22
7.23
0.00
9.12
59.76
216.33
29
148.24
7.23
0.00
9.56
59.76
224.79
30
156.72
7.23
0.00
10.02
59.76
233.73
31
165.69
7.23
0.00
10.50
59.76
243.18
32
175.16
7.23
0.00
11.02
59.76
253.17
33
185.18
7.23
0.00
11.56
59.76
263.73
34
195.77
7.23
0.00
12.13
59.76
274.90
35
206.97
7.23
0.00
12.74
59.76
286.71
2
0.85
1.24
1.66
0.14
1.28
5.16
3
0.89
1.24
1.50
0.14
1.28
5.05
4
0.95
1.24
1.35
0.14
1.28
4.95
5
1.00
1.24
1.19
0.14
1.28
4.84
6
1.06
1.24
1.03
0.14
1.28
4.74
7
1.12
1.24
0.87
0.14
1.28
4.64
8
1.18
1.24
0.71
0.14
1.28
4.55
9
1.25
1.24
0.55
0.14
1.28
4.46
10
1.32
1.24
0.40
0.14
1.28
4.37
11
1.40
1.24
0.24
0.14
1.53
4.55
12
1.48
1.24
0.08
0.14
1.53
4.47
13
1.56
0.19
0.00
0.12
1.53
3.40
14
1.65
0.19
0.00
0.13
1.53
3.49
15
1.74
0.19
0.00
0.13
1.53
3.59
16
1.84
0.19
0.00
0.14
1.53
3.70
17
1.95
0.19
0.00
0.14
1.53
3.81
18
2.06
0.19
0.00
0.15
1.53
3.93
19
2.18
0.19
0.00
0.16
1.53
4.05
20
2.30
0.19
0.00
0.16
1.53
4.18
21
2.43
0.19
0.00
0.17
1.53
4.32
22
2.57
0.19
0.00
0.18
1.53
4.47
23
2.72
0.19
0.00
0.19
1.53
4.62
24
2.88
0.19
0.00
0.19
1.53
4.79
25
3.04
0.19
0.00
0.20
1.53
4.96
26
3.21
0.19
0.00
0.21
1.53
5.14
27
3.40
0.19
0.00
0.22
1.53
5.34
28
3.59
0.19
0.00
0.23
1.53
5.54
29
3.80
0.19
0.00
0.24
1.53
5.76
30
4.02
0.19
0.00
0.26
1.53
5.99
31
4.25
0.19
0.00
0.27
1.53
6.23
32
4.49
0.19
0.00
0.28
1.53
6.49
33
4.75
0.19
0.00
0.30
1.53
6.76
34
5.02
0.19
0.00
0.31
1.53
7.04
35
5.30
0.19
0.00
0.33
1.53
7.35
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
2
5.28%
43.82
3
5.28%
43.82
4
5.28%
43.82
5
5.28%
43.82
6
5.28%
43.82
7
5.28%
43.82
8
5.28%
43.82
100.00% 50.00%
50% 45.00%
50%
5%
415.00 373.50
5.00%
4.00%
1.00%
33.20
1.00%
0.80%
0.20%
6.64
0.20%
0.16%
0.04%
1.33
0.04%
0.03%
0.01%
0.27
0.01%
0.01%
0.00%
0.05
-10.62
-3.61
3.90
-0.09
0.86
-37.18
-12.64
3.90
-0.32
0.78
-42.50
-14.44
3.90
-0.37
0.70
-43.56
-14.81
3.90
-0.38
0.63
-43.77
-14.88
3.90
-0.38
0.57
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
0.079
0.071
0.064
0.058
0.052
0.047
0.043
9
5.28%
43.82
10
5.28%
43.82
11
5.28%
43.82
12
5.28%
43.82
13
5.28%
43.82
14
5.28%
43.82
15
5.28%
43.82
16
5.28%
43.82
17
5.28%
43.82
18
2.88%
23.90
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
0.00%
0.00%
0.00%
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
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%
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%
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%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
-43.81
-14.89
3.90
-0.38
0.52
0.00
0.00
3.90
0.00
0.47
0.00
0.00
3.90
0.00
0.42
0.00
0.00
3.90
0.00
0.38
0.00
0.00
3.90
0.00
0.34
0.00
0.00
3.90
0.00
0.31
0.00
0.00
3.90
0.00
0.28
0.00
0.00
3.90
0.00
0.25
0.00
0.00
3.90
0.00
0.23
0.00
0.00
3.90
0.00
0.21
0.00
0.00
3.90
0.00
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
0.12
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
0.07
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
0.039
0.035
0.032
33
0.00%
0.00
34
0.00%
0.00
35
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
3.90
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
Determination of Accelerated Depreciation
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional depriciation
20.00%
Income Tax (Normal Rates) 33.99%
Capital Cost
830.0
Years------------>
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Rs Lakh
Rs Lakh
MU
Rs/Unit
1
2.64%
21.91
393.09
133.61
1.95
6.85
1.00
329.68
112.06
3.90
2.87
0.95
Tax Benefit Levellised
18.20
Electricity Generation (Levellised)3.72
Levellised benefit
0.49 Rs/Unit
67
Annexure2 B
Small Hydro: Assumptions Parameters
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
HP,
Uttarakhand,
NE States
5 MW to 25
MW
1
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW
Installed Power Generation Capacity
Capacity Utilization Factor
Auxiliary Consumption
Deration
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
45%
1%
0.00%
35
754.547
13
Debt
%
Equity
%
Total Debt Amount
Total Equity Amout
Rs Lacs
Rs Lacs
528.183
226.364
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
528.18
0
12
12.76%
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
226.36
16%
20%
10
24.00%
22.86%
10.70%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
4
% p.a
Year
% p.a
Financial Assumptions
33.990%
20.00%
Yes
Depreciation
5
6
Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
Months
Months
Intrest On Working Capital
%
O&M Expenses (2016-17)
Total O & M Expenses Escalation
O&M Expenses (2012-13)
Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.26%
Operation & Maintenance
22.49
5.72%
18.00
68
Determination of Tariff Component:
Year--->
Units Generation
Unit
Installed Capacity
MW
Net Generation
MU
1
1
3.90
Fixed Cost
Unit
Year--->
1
22.49
O&M Expenses
Rs Lakh
43.99
Depreciation
Rs Lakh
64.60
Interest on term loan Rs Lakh
4.70
Interest on working Capital
Rs Lakh
45.27
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
181.04
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised 1
0.58
1.02
O&M expn
Rs/kWh
1.13
0.86
Depreciation
Rs/kWh
1.66
0.75
Int. on term loan
Rs/kWh
0.12
0.12
Int. on working capital Rs/kWh
1.16
1.24
RoE
Rs/kWh
Total COG
Rs/kWh
3.99
4.64
Levellised
Discount Factor
1
Levellised Tariff
3.99
Rs/Unit
2
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
36
1
3.90
2
23.77
43.99
58.98
4.64
45.27
176.65
3
25.13
43.99
53.36
4.59
45.27
172.34
4
26.57
43.99
47.75
4.54
45.27
168.11
5
28.09
43.99
42.13
4.49
45.27
163.97
6
29.70
43.99
36.51
4.45
45.27
159.92
7
31.39
43.99
30.89
4.42
45.27
155.97
8
33.19
43.99
25.28
4.39
45.27
152.12
9
35.09
43.99
19.66
4.37
45.27
148.38
10
37.10
43.99
14.04
4.35
45.27
144.75
11
39.22
43.99
8.43
4.54
54.33
150.50
12
41.46
43.99
2.81
4.53
54.33
147.12
13
43.83
6.57
0.00
3.75
54.33
108.49
14
46.34
6.57
0.00
3.89
54.33
111.13
15
48.99
6.57
0.00
4.03
54.33
113.93
16
51.79
6.57
0.00
4.19
54.33
116.88
17
54.75
6.57
0.00
4.35
54.33
120.00
18
57.89
6.57
0.00
4.52
54.33
123.30
19
61.20
6.57
0.00
4.70
54.33
126.79
20
64.70
6.57
0.00
4.89
54.33
130.49
21
68.40
6.57
0.00
5.09
54.33
134.39
22
72.31
6.57
0.00
5.30
54.33
138.51
23
76.45
6.57
0.00
5.52
54.33
142.87
24
80.82
6.57
0.00
5.76
54.33
147.48
25
85.44
6.57
0.00
6.01
54.33
152.36
26
90.33
6.57
0.00
6.28
54.33
157.51
27
95.50
6.57
0.00
6.56
54.33
162.96
28
100.96
6.57
0.00
6.85
54.33
168.71
29
106.73
6.57
0.00
7.17
54.33
174.80
30
112.84
6.57
0.00
7.50
54.33
181.24
31
119.29
6.57
0.00
7.85
54.33
188.04
32
126.12
6.57
0.00
8.22
54.33
195.24
33
133.33
6.57
0.00
8.61
54.33
202.84
34
140.96
6.57
0.00
9.02
54.33
210.88
35
149.02
6.57
0.00
9.46
54.33
219.38
2
0.61
1.13
1.51
0.12
1.16
4.53
3
0.64
1.13
1.37
0.12
1.16
4.42
4
0.68
1.13
1.22
0.12
1.16
4.31
5
0.72
1.13
1.08
0.12
1.16
4.20
6
0.76
1.13
0.94
0.11
1.16
4.10
7
0.80
1.13
0.79
0.11
1.16
4.00
8
0.85
1.13
0.65
0.11
1.16
3.90
9
0.90
1.13
0.50
0.11
1.16
3.80
10
0.95
1.13
0.36
0.11
1.16
3.71
11
1.00
1.13
0.22
0.12
1.39
3.86
12
1.06
1.13
0.07
0.12
1.39
3.77
13
1.12
0.17
0.00
0.10
1.39
2.78
14
1.19
0.17
0.00
0.10
1.39
2.85
15
1.26
0.17
0.00
0.10
1.39
2.92
16
1.33
0.17
0.00
0.11
1.39
2.99
17
1.40
0.17
0.00
0.11
1.39
3.07
18
1.48
0.17
0.00
0.12
1.39
3.16
19
1.57
0.17
0.00
0.12
1.39
3.25
20
1.66
0.17
0.00
0.13
1.39
3.34
21
1.75
0.17
0.00
0.13
1.39
3.44
22
1.85
0.17
0.00
0.14
1.39
3.55
23
1.96
0.17
0.00
0.14
1.39
3.66
24
2.07
0.17
0.00
0.15
1.39
3.78
25
2.19
0.17
0.00
0.15
1.39
3.90
26
2.31
0.17
0.00
0.16
1.39
4.04
27
2.45
0.17
0.00
0.17
1.39
4.18
28
2.59
0.17
0.00
0.18
1.39
4.32
29
2.73
0.17
0.00
0.18
1.39
4.48
30
2.89
0.17
0.00
0.19
1.39
4.64
31
3.06
0.17
0.00
0.20
1.39
4.82
32
3.23
0.17
0.00
0.21
1.39
5.00
33
3.42
0.17
0.00
0.22
1.39
5.20
34
3.61
0.17
0.00
0.23
1.39
5.40
35
3.82
0.17
0.00
0.24
1.39
5.62
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
2
5.28%
39.84
3
5.28%
39.84
4
5.28%
39.84
5
5.28%
39.84
6
5.28%
39.84
7
5.28%
39.84
8
5.28%
39.84
100.00% 50.00%
50% 45.00%
50%
5%
377.27 339.55
5.00%
4.00%
1.00%
30.18
1.00%
0.80%
0.20%
6.04
0.20%
0.16%
0.04%
1.21
0.04%
0.03%
0.01%
0.24
0.01%
0.01%
0.00%
0.05
-9.66
-3.28
3.90
-0.08
0.86
-33.80
-11.49
3.90
-0.29
0.78
-38.63
-13.13
3.90
-0.34
0.70
-39.60
-13.46
3.90
-0.34
0.63
-39.79
-13.53
3.90
-0.35
0.57
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
0.079
0.071
0.064
0.058
0.052
0.047
9
5.28%
39.84
10
5.28%
39.84
11
5.28%
39.84
12
5.28%
39.84
13
5.28%
39.84
14
5.28%
39.84
15
5.28%
39.84
16
5.28%
39.84
17
5.28%
39.84
18
2.88%
21.73
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
0.00%
0.00%
0.00%
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
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%
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%
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%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
-39.83
-13.54
3.90
-0.35
0.52
0.00
0.00
3.90
0.00
0.47
0.00
0.00
3.90
0.00
0.42
0.00
0.00
3.90
0.00
0.38
0.00
0.00
3.90
0.00
0.34
0.00
0.00
3.90
0.00
0.31
0.00
0.00
3.90
0.00
0.28
0.00
0.00
3.90
0.00
0.25
0.00
0.00
3.90
0.00
0.23
0.00
0.00
3.90
0.00
0.21
0.00
0.00
3.90
0.00
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
0.12
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
0.07
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
0.043
0.039
0.035
0.032
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
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
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
Determination of Accelerated Depreciation
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional depriciation
20.00%
Income Tax (Normal Rates) 33.99%
Capital Cost
754.5
Years------------>
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Rs Lakh
Rs Lakh
MU
Rs/Unit
1
2.64%
19.92
357.35
121.46
1.95
6.22
1.00
299.71
101.87
3.90
2.61
0.95
Tax Benefit Levellised
16.54
Electricity Generation (Levellised)3.72
Levellised benefit
0.45 Rs/Unit
69
Annexure 2 C
Small Hydro: Assumptions Parameters
S. No.
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
Installed Power Generation Capacity
Capacity Utilization Factor
Auxiliary Consumption
Deration
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
30%
1%
0.00%
35
646.755
35
Debt
%
Equity
%
Total Debt Amount
Total Equity Amout
Rs Lacs
Rs Lacs
452.728
194.026
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
452.73
0
12
12.76%
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
194.03
16%
20%
10
24.00%
22.86%
10.70%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
4
% p.a
Year
% p.a
Financial Assumptions
33.990%
20.00%
Yes
Depreciation
5
6
Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
Months
Months
Intrest On Working Capital
%
O&M Expenses (2016-17)
Total O & M Expenses Escalation
O&M Expenses (2012-13)
Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.26%
Operation & Maintenance
24.98
5.72%
20.00
70
Determination of Tariff Component:
Year--->
Units Generation
Unit
Installed Capacity
MW
Net Generation
MU
1
1
2.60
Fixed Cost
Unit
Year--->
1
24.98
O&M Expenses
Rs Lakh
37.71
Depreciation
Rs Lakh
55.37
Interest on term loan Rs Lakh
4.34
Interest on working Capital
Rs Lakh
38.81
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
161.20
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised 1
0.96
1.70
O&M expn
Rs/kWh
1.45
1.11
Depreciation
Rs/kWh
2.13
0.96
Int. on term loan
Rs/kWh
0.17
0.18
Int. on working capital Rs/kWh
1.49
1.59
RoE
Rs/kWh
Total COG
Rs/kWh
5.54
6.20
Levellised
Discount Factor
1
Levellised Tariff
5.54
Rs/Unit
2
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
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
36
1
2.60
2
26.41
37.71
50.55
4.30
38.81
157.78
3
27.92
37.71
45.74
4.28
38.81
154.45
4
29.52
37.71
40.92
4.26
38.81
151.21
5
31.21
37.71
36.11
4.24
38.81
148.07
6
32.99
37.71
31.30
4.23
38.81
145.03
7
34.88
37.71
26.48
4.22
38.81
142.09
8
36.88
37.71
21.67
4.22
38.81
139.27
9
38.99
37.71
16.85
4.23
38.81
136.57
10
41.22
37.71
12.04
4.24
38.81
134.00
11
43.57
37.71
7.22
4.43
46.57
139.50
12
46.07
37.71
2.41
4.46
46.57
137.20
13
48.70
5.64
-2.41
3.77
46.57
102.26
14
51.49
5.64
0.00
3.97
46.57
107.66
15
54.43
5.64
0.00
4.13
46.57
110.77
16
57.55
5.64
0.00
4.30
46.57
114.05
17
60.84
5.64
0.00
4.48
46.57
117.52
18
64.32
5.64
0.00
4.67
46.57
121.19
19
68.00
5.64
0.00
4.87
46.57
125.07
20
71.89
5.64
0.00
5.08
46.57
129.17
21
76.00
5.64
0.00
5.30
46.57
133.50
22
80.35
5.64
0.00
5.54
46.57
138.08
23
84.94
5.64
0.00
5.79
46.57
142.93
24
89.80
5.64
0.00
6.05
46.57
148.05
25
94.94
5.64
0.00
6.33
46.57
153.47
26
100.37
5.64
0.00
6.62
46.57
159.19
27
106.11
5.64
0.00
6.94
46.57
165.24
28
112.18
5.64
0.00
7.26
46.57
171.64
29
118.59
5.64
0.00
7.61
46.57
178.41
30
125.38
5.64
0.00
7.98
46.57
185.56
31
132.55
5.64
0.00
8.37
46.57
193.12
32
140.13
5.64
0.00
8.78
46.57
201.11
33
148.15
5.64
0.00
9.22
46.57
209.56
34
156.62
5.64
0.00
9.68
46.57
218.50
35
165.58
5.64
0.00
10.16
46.57
227.94
2
1.02
1.45
1.94
0.17
1.49
6.06
3
1.07
1.45
1.76
0.16
1.49
5.94
4
1.13
1.45
1.57
0.16
1.49
5.81
5
1.20
1.45
1.39
0.16
1.49
5.69
6
1.27
1.45
1.20
0.16
1.49
5.57
7
1.34
1.45
1.02
0.16
1.49
5.46
8
1.42
1.45
0.83
0.16
1.49
5.35
9
1.50
1.45
0.65
0.16
1.49
5.25
10
1.58
1.45
0.46
0.16
1.49
5.15
11
1.67
1.45
0.28
0.17
1.79
5.36
12
1.77
1.45
0.09
0.17
1.79
5.27
13
1.87
0.22
-0.09
0.14
1.79
3.93
14
1.98
0.22
0.00
0.15
1.79
4.14
15
2.09
0.22
0.00
0.16
1.79
4.26
16
2.21
0.22
0.00
0.17
1.79
4.38
17
2.34
0.22
0.00
0.17
1.79
4.52
18
2.47
0.22
0.00
0.18
1.79
4.66
19
2.61
0.22
0.00
0.19
1.79
4.81
20
2.76
0.22
0.00
0.20
1.79
4.96
21
2.92
0.22
0.00
0.20
1.79
5.13
22
3.09
0.22
0.00
0.21
1.79
5.31
23
3.26
0.22
0.00
0.22
1.79
5.49
24
3.45
0.22
0.00
0.23
1.79
5.69
25
3.65
0.22
0.00
0.24
1.79
5.90
26
3.86
0.22
0.00
0.25
1.79
6.12
27
4.08
0.22
0.00
0.27
1.79
6.35
28
4.31
0.22
0.00
0.28
1.79
6.60
29
4.56
0.22
0.00
0.29
1.79
6.86
30
4.82
0.22
0.00
0.31
1.79
7.13
31
5.09
0.22
0.00
0.32
1.79
7.42
32
5.39
0.22
0.00
0.34
1.79
7.73
33
5.69
0.22
0.00
0.35
1.79
8.05
34
6.02
0.22
0.00
0.37
1.79
8.40
35
6.36
0.22
0.00
0.39
1.79
8.76
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
2
5.28%
34.15
3
5.28%
34.15
4
5.28%
34.15
5
5.28%
34.15
6
5.28%
34.15
7
5.28%
34.15
8
5.28%
34.15
100.00% 50.00%
50% 45.00%
50%
5%
323.38 291.04
5.00%
4.00%
1.00%
25.87
1.00%
0.80%
0.20%
5.17
0.20%
0.16%
0.04%
1.03
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
-8.28
-2.81
2.60
-0.11
0.86
-28.97
-9.85
2.60
-0.38
0.78
-33.11
-11.26
2.60
-0.43
0.70
-33.94
-11.54
2.60
-0.44
0.63
-34.11
-11.59
2.60
-0.45
0.57
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
0.079
0.071
0.064
0.058
0.052
0.047
9
5.28%
34.15
10
5.28%
34.15
11
5.28%
34.15
12
5.28%
34.15
13
5.28%
34.15
14
5.28%
34.15
15
5.28%
34.15
16
5.28%
34.15
17
5.28%
34.15
18
2.88%
18.63
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
0.00%
0.00%
0.00%
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
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%
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%
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%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
-34.14
-11.60
2.60
-0.45
0.52
0.00
0.00
2.60
0.00
0.47
0.00
0.00
2.60
0.00
0.42
0.00
0.00
2.60
0.00
0.38
0.00
0.00
2.60
0.00
0.34
0.00
0.00
2.60
0.00
0.31
0.00
0.00
2.60
0.00
0.28
0.00
0.00
2.60
0.00
0.25
0.00
0.00
2.60
0.00
0.23
0.00
0.00
2.60
0.00
0.21
0.00
0.00
2.60
0.00
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
0.12
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
0.07
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
0.043
0.039
0.035
0.032
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
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
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
Determination of Accelerated Depreciation
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional depriciation
20.00%
Income Tax (Normal Rates) 33.99%
Capital Cost
646.8
Years------------>
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Rs Lakh
Rs Lakh
MU
Rs/Unit
1
2.64%
17.07
306.30
104.11
1.30
8.00
1.00
256.89
87.32
2.60
3.36
0.95
Tax Benefit Levellised
14.18
Electricity Generation (Levellised)2.48
Levellised benefit
0.57 Rs/Unit
71
Annexure 2 D
Small Hydro: Assumptions Parameters
S. No.
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
Installed Power Generation Capacity
Capacity Utilization Factor
Auxiliary Consumption
Deration
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
30%
1%
0.00%
35
592.859
13
Debt
%
Equity
%
Total Debt Amount
Total Equity Amout
Rs Lacs
Rs Lacs
415.001
177.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Intrest Rate
Rs Lacs
years
years
%
415.00
0
12
12.76%
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
177.86
16%
20%
10
24.00%
22.86%
10.70%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
4
% p.a
Year
% p.a
Financial Assumptions
33.990%
20.00%
Yes
Depreciation
5
6
Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
Months
Months
Intrest On Working Capital
%
O&M Expenses (2016-17)
Total O & M Expenses Escalation
O&M Expenses (2012-13)
Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.26%
Operation & Maintenance
17.49
5.72%
14.00
72
Determination of Tariff Component:
Year--->
Units Generation
Unit
Installed Capacity
MW
Net Generation
MU
1
1
2.60
Fixed Cost
Unit
Year--->
1
17.49
O&M Expenses
Rs Lakh
34.56
Depreciation
Rs Lakh
50.75
Interest on term loan Rs Lakh
3.68
Interest on working Capital
Rs Lakh
35.57
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
142.06
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Unit
Levellised 1
0.67
1.19
O&M expn
Rs/kWh
1.33
1.02
Depreciation
Rs/kWh
1.95
0.88
Int. on term loan
Rs/kWh
0.14
0.14
Int. on working capital Rs/kWh
1.37
1.46
RoE
Rs/kWh
Total COG
Rs/kWh
4.69
5.46
Levellised
Discount Factor
1
Levellised Tariff
4.69
Rs/Unit
2
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
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
36
1
2.60
2
18.49
34.56
46.34
3.64
35.57
138.60
3
19.55
34.56
41.93
3.59
35.57
135.20
4
20.66
34.56
37.51
3.55
35.57
131.87
5
21.85
34.56
33.10
3.52
35.57
128.60
6
23.10
34.56
28.69
3.49
35.57
125.41
7
24.42
34.56
24.27
3.46
35.57
122.28
8
25.81
34.56
19.86
3.43
35.57
119.24
9
27.29
34.56
15.45
3.41
35.57
116.29
10
28.85
34.56
11.03
3.40
35.57
113.42
11
30.50
34.56
6.62
3.55
42.69
117.92
12
32.25
34.56
2.21
3.55
42.69
115.25
13
34.09
5.17
0.00
2.93
42.69
84.87
14
36.04
5.17
0.00
3.04
42.69
86.93
15
38.10
5.17
0.00
3.15
42.69
89.10
16
40.28
5.17
0.00
3.27
42.69
91.40
17
42.59
5.17
0.00
3.39
42.69
93.83
18
45.02
5.17
0.00
3.52
42.69
96.40
19
47.60
5.17
0.00
3.66
42.69
99.11
20
50.32
5.17
0.00
3.81
42.69
101.98
21
53.20
5.17
0.00
3.97
42.69
105.02
22
56.24
5.17
0.00
4.13
42.69
108.23
23
59.46
5.17
0.00
4.31
42.69
111.62
24
62.86
5.17
0.00
4.49
42.69
115.20
25
66.46
5.17
0.00
4.69
42.69
118.99
26
70.26
5.17
0.00
4.89
42.69
123.00
27
74.28
5.17
0.00
5.11
42.69
127.24
28
78.52
5.17
0.00
5.34
42.69
131.72
29
83.02
5.17
0.00
5.58
42.69
136.45
30
87.76
5.17
0.00
5.84
42.69
141.46
31
92.78
5.17
0.00
6.11
42.69
146.75
32
98.09
5.17
0.00
6.40
42.69
152.34
33
103.70
5.17
0.00
6.71
42.69
158.26
34
109.63
5.17
0.00
7.03
42.69
164.51
35
115.90
5.17
0.00
7.37
42.69
171.12
2
0.71
1.33
1.78
0.14
1.37
5.33
3
0.75
1.33
1.61
0.14
1.37
5.20
4
0.79
1.33
1.44
0.14
1.37
5.07
5
0.84
1.33
1.27
0.14
1.37
4.94
6
0.89
1.33
1.10
0.13
1.37
4.82
7
0.94
1.33
0.93
0.13
1.37
4.70
8
0.99
1.33
0.76
0.13
1.37
4.58
9
1.05
1.33
0.59
0.13
1.37
4.47
10
1.11
1.33
0.42
0.13
1.37
4.36
11
1.17
1.33
0.25
0.14
1.64
4.53
12
1.24
1.33
0.08
0.14
1.64
4.43
13
1.31
0.20
0.00
0.11
1.64
3.26
14
1.39
0.20
0.00
0.12
1.64
3.34
15
1.46
0.20
0.00
0.12
1.64
3.42
16
1.55
0.20
0.00
0.13
1.64
3.51
17
1.64
0.20
0.00
0.13
1.64
3.61
18
1.73
0.20
0.00
0.14
1.64
3.71
19
1.83
0.20
0.00
0.14
1.64
3.81
20
1.93
0.20
0.00
0.15
1.64
3.92
21
2.04
0.20
0.00
0.15
1.64
4.04
22
2.16
0.20
0.00
0.16
1.64
4.16
23
2.29
0.20
0.00
0.17
1.64
4.29
24
2.42
0.20
0.00
0.17
1.64
4.43
25
2.55
0.20
0.00
0.18
1.64
4.57
26
2.70
0.20
0.00
0.19
1.64
4.73
27
2.85
0.20
0.00
0.20
1.64
4.89
28
3.02
0.20
0.00
0.21
1.64
5.06
29
3.19
0.20
0.00
0.21
1.64
5.24
30
3.37
0.20
0.00
0.22
1.64
5.44
31
3.57
0.20
0.00
0.24
1.64
5.64
32
3.77
0.20
0.00
0.25
1.64
5.86
33
3.99
0.20
0.00
0.26
1.64
6.08
34
4.21
0.20
0.00
0.27
1.64
6.32
35
4.45
0.20
0.00
0.28
1.64
6.58
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
2
5.28%
31.30
3
5.28%
31.30
4
5.28%
31.30
5
5.28%
31.30
6
5.28%
31.30
7
5.28%
31.30
8
5.28%
31.30
100.00% 50.00%
50% 45.00%
50%
5%
296.43 266.79
5.00%
4.00%
1.00%
23.71
1.00%
0.80%
0.20%
4.74
0.20%
0.16%
0.04%
0.95
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
-7.59
-2.58
2.60
-0.10
0.86
-26.56
-9.03
2.60
-0.35
0.78
-30.35
-10.32
2.60
-0.40
0.70
-31.11
-10.58
2.60
-0.41
0.63
-31.26
-10.63
2.60
-0.41
0.57
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
0.079
0.071
0.064
0.058
0.052
0.047
9
5.28%
31.30
10
5.28%
31.30
11
5.28%
31.30
12
5.28%
31.30
13
5.28%
31.30
14
5.28%
31.30
15
5.28%
31.30
16
5.28%
31.30
17
5.28%
31.30
18
2.88%
17.07
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
0.00%
0.00%
0.00%
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
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%
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%
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%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
-31.30
-10.64
2.60
-0.41
0.52
0.00
0.00
2.60
0.00
0.47
0.00
0.00
2.60
0.00
0.42
0.00
0.00
2.60
0.00
0.38
0.00
0.00
2.60
0.00
0.34
0.00
0.00
2.60
0.00
0.31
0.00
0.00
2.60
0.00
0.28
0.00
0.00
2.60
0.00
0.25
0.00
0.00
2.60
0.00
0.23
0.00
0.00
2.60
0.00
0.21
0.00
0.00
2.60
0.00
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
0.12
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
0.07
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
0.043
0.039
0.035
0.032
32
0.00%
0.00
33
0.00%
0.00
34
0.00%
0.00
35
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
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
Determination of Accelerated Depreciation
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional depriciation
20.00%
Income Tax (Normal Rates) 33.99%
Capital Cost
592.9
Years------------>
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Rs Lakh
Rs Lakh
MU
Rs/Unit
1
2.64%
15.65
280.78
95.44
1.30
7.34
1.00
235.48
80.04
2.60
3.08
0.95
Tax Benefit Levellised
13.00
Electricity Generation (Levellised)2.48
Levellised benefit
0.52 Rs/Unit
73
Annexure 3.1 A
Biomass Power Projects (Other than Rice Straw & Juliflore (plantation) based projects) with water cooled
condenser and using Travelling Grate Boiler
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2807.74
3174
5.00%
47.26
5.72%
40.00
74
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
207.82
4.10
2
268.57
4.26
3
282.00
4.47
4
296.10
4.69
5
310.91
4.93
6
326.45
5.18
7
342.77
5.43
8
359.91
5.71
9
377.91
5.99
10
396.80
6.29
11
416.65
6.61
12
437.48
6.94
13
459.35
7.28
14
482.32
7.65
15
506.43
8.03
16
531.76
8.43
17
558.34
8.85
18
586.26
9.30
19
615.57
9.76
20
646.35
10.25
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.23
33.54
180.49
3.56
2
49.97
32.59
43.70
23.40
33.54
183.20
2.90
3
52.83
32.59
39.54
24.38
33.54
182.87
2.90
4
55.85
32.59
35.37
25.40
33.54
182.76
2.90
5
59.04
32.59
31.21
26.48
33.54
182.87
2.90
6
62.42
32.59
27.05
27.63
33.54
183.23
2.91
7
65.99
32.59
22.89
28.83
33.54
183.85
2.91
8
69.76
32.59
18.73
30.11
33.54
184.73
2.93
9
73.75
32.59
14.57
31.45
33.54
185.90
2.95
10
77.97
32.59
10.40
32.87
33.54
187.38
2.97
11
82.43
32.59
6.24
34.51
40.25
196.03
3.11
12
87.15
32.59
2.08
36.08
40.25
198.16
3.14
13
92.13
14.00
0.00
37.37
40.25
183.76
2.91
14
97.40
14.00
0.00
39.21
40.25
190.87
3.03
15
102.97
14.00
0.00
41.15
40.25
198.38
3.15
16
108.87
14.00
0.00
43.19
40.25
206.31
3.27
17
115.09
14.00
0.00
45.33
40.25
214.68
3.40
18
121.68
14.00
0.00
47.58
40.25
223.51
3.54
19
128.64
14.00
0.00
49.94
40.25
232.83
3.69
20
135.99
14.00
0.00
52.43
40.25
242.68
3.85
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.72
1.14
0.48
0.40
0.48
0.57
8.79
1
4.10
0.93
0.64
0.94
0.38
0.66
7.66
2
4.26
0.79
0.52
0.69
0.37
0.53
7.16
3
4.47
0.84
0.52
0.63
0.39
0.53
7.37
4
4.69
0.89
0.52
0.56
0.40
0.53
7.59
5
4.93
0.94
0.52
0.49
0.42
0.53
7.83
6
5.18
0.99
0.52
0.43
0.44
0.53
8.08
7
5.43
1.05
0.52
0.36
0.46
0.53
8.35
8
5.71
1.11
0.52
0.30
0.48
0.53
8.64
9
5.99
1.17
0.52
0.23
0.50
0.53
8.94
10
6.29
1.24
0.52
0.16
0.52
0.53
9.26
11
6.61
1.31
0.52
0.10
0.55
0.64
9.71
12
6.94
1.38
0.52
0.03
0.57
0.64
10.08
13
7.28
1.46
0.22
0.00
0.59
0.64
10.20
14
7.65
1.54
0.22
0.00
0.62
0.64
10.67
15
8.03
1.63
0.22
0.00
0.65
0.64
11.17
16
8.43
1.73
0.22
0.00
0.68
0.64
11.70
17
8.85
1.82
0.22
0.00
0.72
0.64
12.26
18
9.30
1.93
0.22
0.00
0.75
0.64
12.84
19
9.76
2.04
0.22
0.00
0.79
0.64
13.45
20
10.25
2.16
0.22
0.00
0.83
0.64
14.10
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.10 Rs/Kwh
3.07 Rs/Kwh
7.17 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
75
Annexure 3.1 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3195.86
3174
5.00%
47.26
5.72%
40.00
76
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
236.55
4.67
2
305.70
4.85
3
320.98
5.09
4
337.03
5.34
5
353.88
5.61
6
371.58
5.89
7
390.16
6.19
8
409.66
6.50
9
430.15
6.82
10
451.66
7.16
11
474.24
7.52
12
497.95
7.89
13
522.85
8.29
14
548.99
8.70
15
576.44
9.14
16
605.26
9.60
17
635.52
10.08
18
667.30
10.58
19
700.67
11.11
20
735.70
11.66
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
21.18
33.54
182.44
3.60
2
49.97
32.59
43.70
25.92
33.54
185.72
2.94
3
52.83
32.59
39.54
27.02
33.54
185.51
2.94
4
55.85
32.59
35.37
28.18
33.54
185.53
2.94
5
59.04
32.59
31.21
29.40
33.54
185.79
2.95
6
62.42
32.59
27.05
30.69
33.54
186.29
2.95
7
65.99
32.59
22.89
32.05
33.54
187.06
2.97
8
69.76
32.59
18.73
33.48
33.54
188.11
2.98
9
73.75
32.59
14.57
34.99
33.54
189.45
3.00
10
77.97
32.59
10.40
36.59
33.54
191.10
3.03
11
82.43
32.59
6.24
38.42
40.25
199.93
3.17
12
87.15
32.59
2.08
40.19
40.25
202.26
3.21
13
92.13
14.00
0.00
41.68
40.25
188.06
2.98
14
97.40
14.00
0.00
43.74
40.25
195.39
3.10
15
102.97
14.00
0.00
45.90
40.25
203.13
3.22
16
108.87
14.00
0.00
48.17
40.25
211.29
3.35
17
115.09
14.00
0.00
50.56
40.25
219.91
3.49
18
121.68
14.00
0.00
53.07
40.25
229.00
3.63
19
128.64
14.00
0.00
55.71
40.25
238.60
3.78
20
135.99
14.00
0.00
58.49
40.25
248.74
3.94
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.51
1.14
0.48
0.40
0.54
0.57
9.64
1
4.67
0.93
0.64
0.94
0.42
0.66
8.27
2
4.85
0.79
0.52
0.69
0.41
0.53
7.79
3
5.09
0.84
0.52
0.63
0.43
0.53
8.03
4
5.34
0.89
0.52
0.56
0.45
0.53
8.29
5
5.61
0.94
0.52
0.49
0.47
0.53
8.56
6
5.89
0.99
0.52
0.43
0.49
0.53
8.84
7
6.19
1.05
0.52
0.36
0.51
0.53
9.15
8
6.50
1.11
0.52
0.30
0.53
0.53
9.48
9
6.82
1.17
0.52
0.23
0.55
0.53
9.82
10
7.16
1.24
0.52
0.16
0.58
0.53
10.19
11
7.52
1.31
0.52
0.10
0.61
0.64
10.69
12
7.89
1.38
0.52
0.03
0.64
0.64
11.10
13
8.29
1.46
0.22
0.00
0.66
0.64
11.27
14
8.70
1.54
0.22
0.00
0.69
0.64
11.80
15
9.14
1.63
0.22
0.00
0.73
0.64
12.36
16
9.60
1.73
0.22
0.00
0.76
0.64
12.95
17
10.08
1.82
0.22
0.00
0.80
0.64
13.56
18
10.58
1.93
0.22
0.00
0.84
0.64
14.21
19
11.11
2.04
0.22
0.00
0.88
0.64
14.89
20
11.66
2.16
0.22
0.00
0.93
0.64
15.61
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.67 Rs/Kwh
3.13 Rs/Kwh
7.79 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
77
Annexure 3.1. C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3268.62
3174
5.00%
47.26
5.72%
40.00
78
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
241.94
4.77
2
312.66
4.96
3
328.29
5.21
4
344.71
5.47
5
361.94
5.74
6
380.04
6.03
7
399.04
6.33
8
418.99
6.64
9
439.94
6.98
10
461.94
7.32
11
485.04
7.69
12
509.29
8.07
13
534.75
8.48
14
561.49
8.90
15
589.56
9.35
16
619.04
9.81
17
649.99
10.31
18
682.49
10.82
19
716.62
11.36
20
752.45
11.93
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
21.55
33.54
182.80
3.61
2
49.97
32.59
43.70
26.39
33.54
186.19
2.95
3
52.83
32.59
39.54
27.51
33.54
186.01
2.95
4
55.85
32.59
35.37
28.70
33.54
186.05
2.95
5
59.04
32.59
31.21
29.95
33.54
186.33
2.95
6
62.42
32.59
27.05
31.26
33.54
186.86
2.96
7
65.99
32.59
22.89
32.65
33.54
187.66
2.98
8
69.76
32.59
18.73
34.11
33.54
188.74
2.99
9
73.75
32.59
14.57
35.66
33.54
190.11
3.01
10
77.97
32.59
10.40
37.28
33.54
191.79
3.04
11
82.43
32.59
6.24
39.15
40.25
200.67
3.18
12
87.15
32.59
2.08
40.95
40.25
203.03
3.22
13
92.13
14.00
0.00
42.48
40.25
188.87
2.99
14
97.40
14.00
0.00
44.58
40.25
196.24
3.11
15
102.97
14.00
0.00
46.79
40.25
204.02
3.23
16
108.87
14.00
0.00
49.11
40.25
212.23
3.36
17
115.09
14.00
0.00
51.54
40.25
220.89
3.50
18
121.68
14.00
0.00
54.10
40.25
230.03
3.65
19
128.64
14.00
0.00
56.80
40.25
239.69
3.80
20
135.99
14.00
0.00
59.62
40.25
249.87
3.96
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.66
1.14
0.48
0.40
0.55
0.57
9.80
1
4.77
0.93
0.64
0.94
0.43
0.66
8.38
2
4.96
0.79
0.52
0.69
0.42
0.53
7.91
3
5.21
0.84
0.52
0.63
0.44
0.53
8.15
4
5.47
0.89
0.52
0.56
0.45
0.53
8.42
5
5.74
0.94
0.52
0.49
0.47
0.53
8.69
6
6.03
0.99
0.52
0.43
0.50
0.53
8.99
7
6.33
1.05
0.52
0.36
0.52
0.53
9.30
8
6.64
1.11
0.52
0.30
0.54
0.53
9.64
9
6.98
1.17
0.52
0.23
0.57
0.53
9.99
10
7.32
1.24
0.52
0.16
0.59
0.53
10.36
11
7.69
1.31
0.52
0.10
0.62
0.64
10.87
12
8.07
1.38
0.52
0.03
0.65
0.64
11.29
13
8.48
1.46
0.22
0.00
0.67
0.64
11.47
14
8.90
1.54
0.22
0.00
0.71
0.64
12.01
15
9.35
1.63
0.22
0.00
0.74
0.64
12.58
16
9.81
1.73
0.22
0.00
0.78
0.64
13.18
17
10.31
1.82
0.22
0.00
0.82
0.64
13.81
18
10.82
1.93
0.22
0.00
0.86
0.64
14.47
19
11.36
2.04
0.22
0.00
0.90
0.64
15.16
20
11.93
2.16
0.22
0.00
0.95
0.64
15.89
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.77 Rs/Kwh
3.14 Rs/Kwh
7.91 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
79
Annexure 3.1D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3342.60
3174
5.00%
47.26
5.72%
40.00
80
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
247.41
4.88
2
319.73
5.07
3
335.72
5.32
4
352.51
5.59
5
370.13
5.87
6
388.64
6.16
7
408.07
6.47
8
428.48
6.79
9
449.90
7.13
10
472.39
7.49
11
496.01
7.86
12
520.81
8.26
13
546.86
8.67
14
574.20
9.10
15
602.91
9.56
16
633.05
10.04
17
664.71
10.54
18
697.94
11.07
19
732.84
11.62
20
769.48
12.20
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
21.92
33.54
183.17
3.61
2
49.97
32.59
43.70
26.87
33.54
186.67
2.96
3
52.83
32.59
39.54
28.02
33.54
186.51
2.96
4
55.85
32.59
35.37
29.23
33.54
186.58
2.96
5
59.04
32.59
31.21
30.50
33.54
186.89
2.96
6
62.42
32.59
27.05
31.84
33.54
187.45
2.97
7
65.99
32.59
22.89
33.26
33.54
188.27
2.99
8
69.76
32.59
18.73
34.76
33.54
189.38
3.00
9
73.75
32.59
14.57
36.33
33.54
190.78
3.02
10
77.97
32.59
10.40
37.99
33.54
192.50
3.05
11
82.43
32.59
6.24
39.89
40.25
201.41
3.19
12
87.15
32.59
2.08
41.74
40.25
203.81
3.23
13
92.13
14.00
0.00
43.30
40.25
189.69
3.01
14
97.40
14.00
0.00
45.44
40.25
197.10
3.13
15
102.97
14.00
0.00
47.69
40.25
204.92
3.25
16
108.87
14.00
0.00
50.06
40.25
213.18
3.38
17
115.09
14.00
0.00
52.54
40.25
221.89
3.52
18
121.68
14.00
0.00
55.15
40.25
231.08
3.66
19
128.64
14.00
0.00
57.90
40.25
240.79
3.82
20
135.99
14.00
0.00
60.78
40.25
251.03
3.98
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.81
1.14
0.48
0.40
0.56
0.57
9.96
1
4.88
0.93
0.64
0.94
0.43
0.66
8.50
2
5.07
0.79
0.52
0.69
0.43
0.53
8.03
3
5.32
0.84
0.52
0.63
0.44
0.53
8.28
4
5.59
0.89
0.52
0.56
0.46
0.53
8.55
5
5.87
0.94
0.52
0.49
0.48
0.53
8.83
6
6.16
0.99
0.52
0.43
0.50
0.53
9.13
7
6.47
1.05
0.52
0.36
0.53
0.53
9.45
8
6.79
1.11
0.52
0.30
0.55
0.53
9.80
9
7.13
1.17
0.52
0.23
0.58
0.53
10.16
10
7.49
1.24
0.52
0.16
0.60
0.53
10.54
11
7.86
1.31
0.52
0.10
0.63
0.64
11.06
12
8.26
1.38
0.52
0.03
0.66
0.64
11.49
13
8.67
1.46
0.22
0.00
0.69
0.64
11.68
14
9.10
1.54
0.22
0.00
0.72
0.64
12.23
15
9.56
1.63
0.22
0.00
0.76
0.64
12.81
16
10.04
1.73
0.22
0.00
0.79
0.64
13.42
17
10.54
1.82
0.22
0.00
0.83
0.64
14.06
18
11.07
1.93
0.22
0.00
0.87
0.64
14.73
19
11.62
2.04
0.22
0.00
0.92
0.64
15.44
20
12.20
2.16
0.22
0.00
0.96
0.64
16.18
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.88 Rs/Kwh
3.15 Rs/Kwh
8.03 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
81
Annexure 3.1 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2789.54
3174
5.00%
47.26
5.72%
40.00
82
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
206.48
4.07
2
266.83
4.23
3
280.17
4.44
4
294.18
4.66
5
308.89
4.90
6
324.34
5.14
7
340.55
5.40
8
357.58
5.67
9
375.46
5.95
10
394.23
6.25
11
413.94
6.56
12
434.64
6.89
13
456.37
7.24
14
479.19
7.60
15
503.15
7.98
16
528.31
8.38
17
554.73
8.80
18
582.46
9.23
19
611.59
9.70
20
642.16
10.18
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.14
33.54
180.40
3.56
2
49.97
32.59
43.70
23.29
33.54
183.08
2.90
3
52.83
32.59
39.54
24.25
33.54
182.75
2.90
4
55.85
32.59
35.37
25.27
33.54
182.63
2.90
5
59.04
32.59
31.21
26.35
33.54
182.74
2.90
6
62.42
32.59
27.05
27.48
33.54
183.09
2.90
7
65.99
32.59
22.89
28.68
33.54
183.70
2.91
8
69.76
32.59
18.73
29.95
33.54
184.57
2.93
9
73.75
32.59
14.57
31.28
33.54
185.74
2.94
10
77.97
32.59
10.40
32.69
33.54
187.20
2.97
11
82.43
32.59
6.24
34.33
40.25
195.85
3.11
12
87.15
32.59
2.08
35.89
40.25
197.96
3.14
13
92.13
14.00
0.00
37.17
40.25
183.56
2.91
14
97.40
14.00
0.00
39.00
40.25
190.66
3.02
15
102.97
14.00
0.00
40.93
40.25
198.16
3.14
16
108.87
14.00
0.00
42.95
40.25
206.07
3.27
17
115.09
14.00
0.00
45.08
40.25
214.43
3.40
18
121.68
14.00
0.00
47.32
40.25
223.25
3.54
19
128.64
14.00
0.00
49.67
40.25
232.56
3.69
20
135.99
14.00
0.00
52.15
40.25
242.39
3.84
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.68
1.14
0.48
0.40
0.48
0.57
8.75
1
4.07
0.93
0.64
0.94
0.38
0.66
7.63
2
4.23
0.79
0.52
0.69
0.37
0.53
7.13
3
4.44
0.84
0.52
0.63
0.38
0.53
7.34
4
4.66
0.89
0.52
0.56
0.40
0.53
7.56
5
4.90
0.94
0.52
0.49
0.42
0.53
7.79
6
5.14
0.99
0.52
0.43
0.44
0.53
8.05
7
5.40
1.05
0.52
0.36
0.45
0.53
8.31
8
5.67
1.11
0.52
0.30
0.47
0.53
8.60
9
5.95
1.17
0.52
0.23
0.50
0.53
8.90
10
6.25
1.24
0.52
0.16
0.52
0.53
9.22
11
6.56
1.31
0.52
0.10
0.54
0.64
9.67
12
6.89
1.38
0.52
0.03
0.57
0.64
10.03
13
7.24
1.46
0.22
0.00
0.59
0.64
10.15
14
7.60
1.54
0.22
0.00
0.62
0.64
10.62
15
7.98
1.63
0.22
0.00
0.65
0.64
11.12
16
8.38
1.73
0.22
0.00
0.68
0.64
11.64
17
8.80
1.82
0.22
0.00
0.71
0.64
12.19
18
9.23
1.93
0.22
0.00
0.75
0.64
12.77
19
9.70
2.04
0.22
0.00
0.79
0.64
13.38
20
10.18
2.16
0.22
0.00
0.83
0.64
14.02
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.07 Rs/Kwh
3.07 Rs/Kwh
7.14 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
83
Annexure 3.1 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2761.64
3174
5.00%
47.26
5.72%
40.00
84
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.41
4.03
2
264.16
4.19
3
277.37
4.40
4
291.24
4.62
5
305.80
4.85
6
321.09
5.09
7
337.15
5.35
8
354.00
5.61
9
371.70
5.89
10
390.29
6.19
11
409.80
6.50
12
430.29
6.82
13
451.81
7.16
14
474.40
7.52
15
498.12
7.90
16
523.03
8.29
17
549.18
8.71
18
576.64
9.14
19
605.47
9.60
20
635.74
10.08
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.00
33.54
180.26
3.56
2
49.97
32.59
43.70
23.11
33.54
182.90
2.90
3
52.83
32.59
39.54
24.06
33.54
182.56
2.89
4
55.85
32.59
35.37
25.07
33.54
182.43
2.89
5
59.04
32.59
31.21
26.14
33.54
182.53
2.89
6
62.42
32.59
27.05
27.26
33.54
182.87
2.90
7
65.99
32.59
22.89
28.45
33.54
183.46
2.91
8
69.76
32.59
18.73
29.71
33.54
184.33
2.92
9
73.75
32.59
14.57
31.03
33.54
185.48
2.94
10
77.97
32.59
10.40
32.42
33.54
186.93
2.96
11
82.43
32.59
6.24
34.05
40.25
195.56
3.10
12
87.15
32.59
2.08
35.60
40.25
197.67
3.13
13
92.13
14.00
0.00
36.86
40.25
183.25
2.91
14
97.40
14.00
0.00
38.68
40.25
190.34
3.02
15
102.97
14.00
0.00
40.59
40.25
197.82
3.14
16
108.87
14.00
0.00
42.60
40.25
205.72
3.26
17
115.09
14.00
0.00
44.71
40.25
214.05
3.39
18
121.68
14.00
0.00
46.93
40.25
222.86
3.53
19
128.64
14.00
0.00
49.26
40.25
232.15
3.68
20
135.99
14.00
0.00
51.71
40.25
241.96
3.84
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.63
1.14
0.48
0.40
0.48
0.57
8.69
1
4.03
0.93
0.64
0.94
0.37
0.66
7.59
2
4.19
0.79
0.52
0.69
0.37
0.53
7.09
3
4.40
0.84
0.52
0.63
0.38
0.53
7.29
4
4.62
0.89
0.52
0.56
0.40
0.53
7.51
5
4.85
0.94
0.52
0.49
0.41
0.53
7.74
6
5.09
0.99
0.52
0.43
0.43
0.53
7.99
7
5.35
1.05
0.52
0.36
0.45
0.53
8.25
8
5.61
1.11
0.52
0.30
0.47
0.53
8.54
9
5.89
1.17
0.52
0.23
0.49
0.53
8.83
10
6.19
1.24
0.52
0.16
0.51
0.53
9.15
11
6.50
1.31
0.52
0.10
0.54
0.64
9.60
12
6.82
1.38
0.52
0.03
0.56
0.64
9.96
13
7.16
1.46
0.22
0.00
0.58
0.64
10.07
14
7.52
1.54
0.22
0.00
0.61
0.64
10.54
15
7.90
1.63
0.22
0.00
0.64
0.64
11.03
16
8.29
1.73
0.22
0.00
0.68
0.64
11.55
17
8.71
1.82
0.22
0.00
0.71
0.64
12.10
18
9.14
1.93
0.22
0.00
0.74
0.64
12.68
19
9.60
2.04
0.22
0.00
0.78
0.64
13.28
20
10.08
2.16
0.22
0.00
0.82
0.64
13.92
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.03 Rs/Kwh
3.07 Rs/Kwh
7.10 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
85
Annexure 3.1 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2856.25
3174
5.00%
47.26
5.72%
40.00
86
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
211.41
4.17
2
273.21
4.33
3
286.87
4.55
4
301.22
4.78
5
316.28
5.01
6
332.09
5.27
7
348.70
5.53
8
366.13
5.80
9
384.44
6.10
10
403.66
6.40
11
423.84
6.72
12
445.04
7.06
13
467.29
7.41
14
490.65
7.78
15
515.18
8.17
16
540.94
8.58
17
567.99
9.01
18
596.39
9.46
19
626.21
9.93
20
657.52
10.42
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.48
33.54
180.73
3.57
2
49.97
32.59
43.70
23.72
33.54
183.52
2.91
3
52.83
32.59
39.54
24.71
33.54
183.20
2.90
4
55.85
32.59
35.37
25.75
33.54
183.10
2.90
5
59.04
32.59
31.21
26.85
33.54
183.24
2.91
6
62.42
32.59
27.05
28.01
33.54
183.61
2.91
7
65.99
32.59
22.89
29.24
33.54
184.25
2.92
8
69.76
32.59
18.73
30.53
33.54
185.15
2.94
9
73.75
32.59
14.57
31.89
33.54
186.35
2.95
10
77.97
32.59
10.40
33.33
33.54
187.84
2.98
11
82.43
32.59
6.24
35.00
40.25
196.52
3.12
12
87.15
32.59
2.08
36.60
40.25
198.67
3.15
13
92.13
14.00
0.00
37.91
40.25
184.30
2.92
14
97.40
14.00
0.00
39.78
40.25
191.44
3.04
15
102.97
14.00
0.00
41.75
40.25
198.97
3.15
16
108.87
14.00
0.00
43.81
40.25
206.93
3.28
17
115.09
14.00
0.00
45.98
40.25
215.33
3.41
18
121.68
14.00
0.00
48.27
40.25
224.20
3.55
19
128.64
14.00
0.00
50.67
40.25
233.56
3.70
20
135.99
14.00
0.00
53.19
40.25
243.44
3.86
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.82
1.14
0.48
0.40
0.49
0.57
8.90
1
4.17
0.93
0.64
0.94
0.38
0.66
7.74
2
4.33
0.79
0.52
0.69
0.38
0.53
7.24
3
4.55
0.84
0.52
0.63
0.39
0.53
7.45
4
4.78
0.89
0.52
0.56
0.41
0.53
7.68
5
5.01
0.94
0.52
0.49
0.43
0.53
7.92
6
5.27
0.99
0.52
0.43
0.44
0.53
8.18
7
5.53
1.05
0.52
0.36
0.46
0.53
8.45
8
5.80
1.11
0.52
0.30
0.48
0.53
8.74
9
6.10
1.17
0.52
0.23
0.51
0.53
9.05
10
6.40
1.24
0.52
0.16
0.53
0.53
9.38
11
6.72
1.31
0.52
0.10
0.55
0.64
9.84
12
7.06
1.38
0.52
0.03
0.58
0.64
10.21
13
7.41
1.46
0.22
0.00
0.60
0.64
10.33
14
7.78
1.54
0.22
0.00
0.63
0.64
10.81
15
8.17
1.63
0.22
0.00
0.66
0.64
11.32
16
8.58
1.73
0.22
0.00
0.69
0.64
11.86
17
9.01
1.82
0.22
0.00
0.73
0.64
12.42
18
9.46
1.93
0.22
0.00
0.77
0.64
13.01
19
9.93
2.04
0.22
0.00
0.80
0.64
13.63
20
10.42
2.16
0.22
0.00
0.84
0.64
14.28
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.17 Rs/Kwh
3.08 Rs/Kwh
7.25 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
87
Annexure 3.1.H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
167.710
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2014-15)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3003.01
3174
5.00%
47.26
5.72%
40.00
88
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
222.28
4.39
2
287.25
4.55
3
301.61
4.78
4
316.70
5.02
5
332.53
5.27
6
349.16
5.54
7
366.61
5.81
8
384.94
6.10
9
404.19
6.41
10
424.40
6.73
11
445.62
7.07
12
467.90
7.42
13
491.30
7.79
14
515.86
8.18
15
541.66
8.59
16
568.74
9.02
17
597.18
9.47
18
627.03
9.94
19
658.39
10.44
20
691.31
10.96
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
32.59
47.86
20.21
33.54
181.47
3.58
2
49.97
32.59
43.70
24.67
33.54
184.47
2.92
3
52.83
32.59
39.54
25.71
33.54
184.20
2.92
4
55.85
32.59
35.37
26.80
33.54
184.15
2.92
5
59.04
32.59
31.21
27.95
33.54
184.34
2.92
6
62.42
32.59
27.05
29.17
33.54
184.77
2.93
7
65.99
32.59
22.89
30.45
33.54
185.46
2.94
8
69.76
32.59
18.73
31.80
33.54
186.43
2.96
9
73.75
32.59
14.57
33.23
33.54
187.69
2.98
10
77.97
32.59
10.40
34.74
33.54
189.25
3.00
11
82.43
32.59
6.24
36.48
40.25
197.99
3.14
12
87.15
32.59
2.08
38.15
40.25
200.22
3.17
13
92.13
14.00
0.00
39.54
40.25
185.93
2.95
14
97.40
14.00
0.00
41.49
40.25
193.15
3.06
15
102.97
14.00
0.00
43.54
40.25
200.77
3.18
16
108.87
14.00
0.00
45.70
40.25
208.82
3.31
17
115.09
14.00
0.00
47.96
40.25
217.31
3.45
18
121.68
14.00
0.00
50.34
40.25
226.27
3.59
19
128.64
14.00
0.00
52.85
40.25
235.74
3.74
20
135.99
14.00
0.00
55.48
40.25
245.73
3.90
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.12
1.14
0.48
0.40
0.51
0.57
9.22
1
4.39
0.93
0.64
0.94
0.40
0.66
7.97
2
4.55
0.79
0.52
0.69
0.39
0.53
7.48
3
4.78
0.84
0.52
0.63
0.41
0.53
7.70
4
5.02
0.89
0.52
0.56
0.42
0.53
7.94
5
5.27
0.94
0.52
0.49
0.44
0.53
8.19
6
5.54
0.99
0.52
0.43
0.46
0.53
8.47
7
5.81
1.05
0.52
0.36
0.48
0.53
8.75
8
6.10
1.11
0.52
0.30
0.50
0.53
9.06
9
6.41
1.17
0.52
0.23
0.53
0.53
9.38
10
6.73
1.24
0.52
0.16
0.55
0.53
9.73
11
7.07
1.31
0.52
0.10
0.58
0.64
10.20
12
7.42
1.38
0.52
0.03
0.60
0.64
10.59
13
7.79
1.46
0.22
0.00
0.63
0.64
10.74
14
8.18
1.54
0.22
0.00
0.66
0.64
11.24
15
8.59
1.63
0.22
0.00
0.69
0.64
11.77
16
9.02
1.73
0.22
0.00
0.72
0.64
12.33
17
9.47
1.82
0.22
0.00
0.76
0.64
12.91
18
9.94
1.93
0.22
0.00
0.80
0.64
13.53
19
10.44
2.04
0.22
0.00
0.84
0.64
14.18
20
10.96
2.16
0.22
0.00
0.88
0.64
14.86
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.39 Rs/Kwh
3.10 Rs/Kwh
7.49 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
89
Annexure 3.2 A
Biomass Power Projects (Other than Rice Straw & Juliflore (plantation) based projects) with air cooled
condenser and using Travelling Grate Boiler
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2807.74
3174
5.00%
47.26
5.72%
40.00
90
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
207.82
4.20
2
268.57
4.35
3
282.00
4.57
4
296.10
4.80
5
310.91
5.04
6
326.45
5.29
7
342.77
5.56
8
359.91
5.84
9
377.91
6.13
10
396.80
6.43
11
416.65
6.76
12
437.48
7.09
13
459.35
7.45
14
482.32
7.82
15
506.43
8.21
16
531.76
8.62
17
558.34
9.05
18
586.26
9.51
19
615.57
9.98
20
646.35
10.48
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.42
36.03
189.12
3.82
2
49.97
35.01
46.93
23.59
36.03
191.52
3.11
3
52.83
35.01
42.46
24.55
36.03
190.87
3.10
4
55.85
35.01
37.99
25.57
36.03
190.45
3.09
5
59.04
35.01
33.52
26.65
36.03
190.25
3.08
6
62.42
35.01
29.05
27.78
36.03
190.29
3.09
7
65.99
35.01
24.58
28.98
36.03
190.59
3.09
8
69.76
35.01
20.11
30.25
36.03
191.16
3.10
9
73.75
35.01
15.64
31.58
36.03
192.02
3.11
10
77.97
35.01
11.17
32.99
36.03
193.17
3.13
11
82.43
35.01
6.70
34.64
43.23
202.02
3.28
12
87.15
35.01
2.23
36.21
43.23
203.83
3.31
13
92.13
15.04
-2.23
37.41
43.23
185.58
3.01
14
97.40
15.04
0.00
39.31
43.23
194.98
3.16
15
102.97
15.04
0.00
41.24
43.23
202.49
3.28
16
108.87
15.04
0.00
43.28
43.23
210.42
3.41
17
115.09
15.04
0.00
45.42
43.23
218.79
3.55
18
121.68
15.04
0.00
47.67
43.23
227.62
3.69
19
128.64
15.04
0.00
50.04
43.23
236.94
3.84
20
135.99
15.04
0.00
52.52
43.23
246.79
4.00
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.85
1.16
0.52
0.44
0.50
0.63
9.11
1
4.20
0.95
0.71
1.04
0.39
0.73
8.01
2
4.35
0.81
0.57
0.76
0.38
0.58
7.46
3
4.57
0.86
0.57
0.69
0.40
0.58
7.67
4
4.80
0.91
0.57
0.62
0.41
0.58
7.89
5
5.04
0.96
0.57
0.54
0.43
0.58
8.13
6
5.29
1.01
0.57
0.47
0.45
0.58
8.38
7
5.56
1.07
0.57
0.40
0.47
0.58
8.65
8
5.84
1.13
0.57
0.33
0.49
0.58
8.94
9
6.13
1.20
0.57
0.25
0.51
0.58
9.24
10
6.43
1.26
0.57
0.18
0.54
0.58
9.57
11
6.76
1.34
0.57
0.11
0.56
0.70
10.03
12
7.09
1.41
0.57
0.04
0.59
0.70
10.40
13
7.45
1.49
0.24
-0.04
0.61
0.70
10.46
14
7.82
1.58
0.24
0.00
0.64
0.70
10.98
15
8.21
1.67
0.24
0.00
0.67
0.70
11.50
16
8.62
1.77
0.24
0.00
0.70
0.70
12.03
17
9.05
1.87
0.24
0.00
0.74
0.70
12.60
18
9.51
1.97
0.24
0.00
0.77
0.70
13.20
19
9.98
2.09
0.24
0.00
0.81
0.70
13.82
20
10.48
2.21
0.24
0.00
0.85
0.70
14.48
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.20 Rs/Kwh
3.25 Rs/Kwh
7.45 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
91
Annexure 3.2 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3195.86
3174
5.00%
47.26
5.72%
40.00
92
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
236.55
4.78
2
305.70
4.96
3
320.98
5.20
4
337.03
5.47
5
353.88
5.74
6
371.58
6.03
7
390.16
6.33
8
409.66
6.64
9
430.15
6.97
10
451.66
7.32
11
474.24
7.69
12
497.95
8.07
13
522.85
8.48
14
548.99
8.90
15
576.44
9.35
16
605.26
9.81
17
635.52
10.31
18
667.30
10.82
19
700.67
11.36
20
735.70
11.93
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
21.37
36.03
191.07
3.86
2
49.97
35.01
46.93
26.11
36.03
194.04
3.15
3
52.83
35.01
42.46
27.20
36.03
193.52
3.14
4
55.85
35.01
37.99
28.35
36.03
193.22
3.13
5
59.04
35.01
33.52
29.56
36.03
193.16
3.13
6
62.42
35.01
29.05
30.84
36.03
193.35
3.14
7
65.99
35.01
24.58
32.20
36.03
193.80
3.14
8
69.76
35.01
20.11
33.62
36.03
194.53
3.15
9
73.75
35.01
15.64
35.13
36.03
195.56
3.17
10
77.97
35.01
11.17
36.71
36.03
196.89
3.19
11
82.43
35.01
6.70
38.55
43.23
205.92
3.34
12
87.15
35.01
2.23
40.31
43.23
207.93
3.37
13
92.13
15.04
-2.23
41.72
43.23
189.89
3.08
14
97.40
15.04
0.00
43.83
43.23
199.50
3.23
15
102.97
15.04
0.00
45.99
43.23
207.24
3.36
16
108.87
15.04
0.00
48.26
43.23
215.40
3.49
17
115.09
15.04
0.00
50.65
43.23
224.02
3.63
18
121.68
15.04
0.00
53.17
43.23
233.11
3.78
19
128.64
15.04
0.00
55.81
43.23
242.71
3.94
20
135.99
15.04
0.00
58.58
43.23
252.85
4.10
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.66
1.16
0.52
0.44
0.55
0.63
9.97
1
4.78
0.95
0.71
1.04
0.43
0.73
8.63
2
4.96
0.81
0.57
0.76
0.42
0.58
8.10
3
5.20
0.86
0.57
0.69
0.44
0.58
8.34
4
5.47
0.91
0.57
0.62
0.46
0.58
8.60
5
5.74
0.96
0.57
0.54
0.48
0.58
8.87
6
6.03
1.01
0.57
0.47
0.50
0.58
9.16
7
6.33
1.07
0.57
0.40
0.52
0.58
9.47
8
6.64
1.13
0.57
0.33
0.55
0.58
9.80
9
6.97
1.20
0.57
0.25
0.57
0.58
10.15
10
7.32
1.26
0.57
0.18
0.60
0.58
10.52
11
7.69
1.34
0.57
0.11
0.63
0.70
11.03
12
8.07
1.41
0.57
0.04
0.65
0.70
11.45
13
8.48
1.49
0.24
-0.04
0.68
0.70
11.56
14
8.90
1.58
0.24
0.00
0.71
0.70
12.14
15
9.35
1.67
0.24
0.00
0.75
0.70
12.71
16
9.81
1.77
0.24
0.00
0.78
0.70
13.31
17
10.31
1.87
0.24
0.00
0.82
0.70
13.94
18
10.82
1.97
0.24
0.00
0.86
0.70
14.60
19
11.36
2.09
0.24
0.00
0.90
0.70
15.30
20
11.93
2.21
0.24
0.00
0.95
0.70
16.03
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.78 Rs/Kwh
3.31 Rs/Kwh
8.08 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
93
Annexure 3.2 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3268.62
3174
5.00%
47.26
5.72%
40.00
94
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
241.94
4.88
2
312.66
5.07
3
328.29
5.32
4
344.71
5.59
5
361.94
5.87
6
380.04
6.16
7
399.04
6.47
8
418.99
6.79
9
439.94
7.13
10
461.94
7.49
11
485.04
7.86
12
509.29
8.26
13
534.75
8.67
14
561.49
9.10
15
589.56
9.56
16
619.04
10.04
17
649.99
10.54
18
682.49
11.07
19
716.62
11.62
20
752.45
12.20
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
21.74
36.03
191.44
3.86
2
49.97
35.01
46.93
26.58
36.03
194.51
3.15
3
52.83
35.01
42.46
27.69
36.03
194.01
3.15
4
55.85
35.01
37.99
28.87
36.03
193.74
3.14
5
59.04
35.01
33.52
30.11
36.03
193.71
3.14
6
62.42
35.01
29.05
31.42
36.03
193.92
3.14
7
65.99
35.01
24.58
32.80
36.03
194.40
3.15
8
69.76
35.01
20.11
34.26
36.03
195.17
3.16
9
73.75
35.01
15.64
35.79
36.03
196.22
3.18
10
77.97
35.01
11.17
37.41
36.03
197.59
3.20
11
82.43
35.01
6.70
39.28
43.23
206.66
3.35
12
87.15
35.01
2.23
41.08
43.23
208.70
3.38
13
92.13
15.04
-2.23
42.52
43.23
190.70
3.09
14
97.40
15.04
0.00
44.67
43.23
200.35
3.25
15
102.97
15.04
0.00
46.88
43.23
208.13
3.37
16
108.87
15.04
0.00
49.20
43.23
216.34
3.51
17
115.09
15.04
0.00
51.63
43.23
225.00
3.65
18
121.68
15.04
0.00
54.20
43.23
234.14
3.80
19
128.64
15.04
0.00
56.89
43.23
243.80
3.95
20
135.99
15.04
0.00
59.72
43.23
253.98
4.12
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.81
1.16
0.52
0.44
0.56
0.63
10.13
1
4.88
0.95
0.71
1.04
0.44
0.73
8.75
2
5.07
0.81
0.57
0.76
0.43
0.58
8.22
3
5.32
0.86
0.57
0.69
0.45
0.58
8.47
4
5.59
0.91
0.57
0.62
0.47
0.58
8.73
5
5.87
0.96
0.57
0.54
0.49
0.58
9.01
6
6.16
1.01
0.57
0.47
0.51
0.58
9.31
7
6.47
1.07
0.57
0.40
0.53
0.58
9.62
8
6.79
1.13
0.57
0.33
0.56
0.58
9.96
9
7.13
1.20
0.57
0.25
0.58
0.58
10.32
10
7.49
1.26
0.57
0.18
0.61
0.58
10.69
11
7.86
1.34
0.57
0.11
0.64
0.70
11.22
12
8.26
1.41
0.57
0.04
0.67
0.70
11.64
13
8.67
1.49
0.24
-0.04
0.69
0.70
11.76
14
9.10
1.58
0.24
0.00
0.72
0.70
12.35
15
9.56
1.67
0.24
0.00
0.76
0.70
12.93
16
10.04
1.77
0.24
0.00
0.80
0.70
13.55
17
10.54
1.87
0.24
0.00
0.84
0.70
14.19
18
11.07
1.97
0.24
0.00
0.88
0.70
14.86
19
11.62
2.09
0.24
0.00
0.92
0.70
15.57
20
12.20
2.21
0.24
0.00
0.97
0.70
16.32
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.88 Rs/Kwh
3.32 Rs/Kwh
8.20 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
95
Annexure 3.2. D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3342.60
3174
5.00%
47.26
5.72%
40.00
96
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
247.41
4.99
2
319.73
5.18
3
335.72
5.44
4
352.51
5.72
5
370.13
6.00
6
388.64
6.30
7
408.07
6.62
8
428.48
6.95
9
449.90
7.30
10
472.39
7.66
11
496.01
8.04
12
520.81
8.45
13
546.86
8.87
14
574.20
9.31
15
602.91
9.78
16
633.05
10.27
17
664.71
10.78
18
697.94
11.32
19
732.84
11.88
20
769.48
12.48
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
22.11
36.03
191.81
3.87
2
49.97
35.01
46.93
27.06
36.03
194.99
3.16
3
52.83
35.01
42.46
28.20
36.03
194.52
3.15
4
55.85
35.01
37.99
29.40
36.03
194.27
3.15
5
59.04
35.01
33.52
30.66
36.03
194.26
3.15
6
62.42
35.01
29.05
32.00
36.03
194.51
3.15
7
65.99
35.01
24.58
33.41
36.03
195.02
3.16
8
69.76
35.01
20.11
34.90
36.03
195.81
3.18
9
73.75
35.01
15.64
36.47
36.03
196.90
3.19
10
77.97
35.01
11.17
38.12
36.03
198.30
3.22
11
82.43
35.01
6.70
40.02
43.23
207.40
3.36
12
87.15
35.01
2.23
41.86
43.23
209.48
3.40
13
92.13
15.04
-2.23
43.35
43.23
191.52
3.11
14
97.40
15.04
0.00
45.54
43.23
201.21
3.26
15
102.97
15.04
0.00
47.78
43.23
209.03
3.39
16
108.87
15.04
0.00
50.15
43.23
217.29
3.52
17
115.09
15.04
0.00
52.63
43.23
226.00
3.66
18
121.68
15.04
0.00
55.24
43.23
235.19
3.81
19
128.64
15.04
0.00
57.99
43.23
244.89
3.97
20
135.99
15.04
0.00
60.87
43.23
255.14
4.14
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.97
1.16
0.52
0.44
0.57
0.63
10.30
1
4.99
0.95
0.71
1.04
0.45
0.73
8.87
2
5.18
0.81
0.57
0.76
0.44
0.58
8.35
3
5.44
0.86
0.57
0.69
0.46
0.58
8.60
4
5.72
0.91
0.57
0.62
0.48
0.58
8.87
5
6.00
0.96
0.57
0.54
0.50
0.58
9.15
6
6.30
1.01
0.57
0.47
0.52
0.58
9.46
7
6.62
1.07
0.57
0.40
0.54
0.58
9.78
8
6.95
1.13
0.57
0.33
0.57
0.58
10.12
9
7.30
1.20
0.57
0.25
0.59
0.58
10.49
10
7.66
1.26
0.57
0.18
0.62
0.58
10.88
11
8.04
1.34
0.57
0.11
0.65
0.70
11.41
12
8.45
1.41
0.57
0.04
0.68
0.70
11.84
13
8.87
1.49
0.24
-0.04
0.70
0.70
11.97
14
9.31
1.58
0.24
0.00
0.74
0.70
12.57
15
9.78
1.67
0.24
0.00
0.77
0.70
13.17
16
10.27
1.77
0.24
0.00
0.81
0.70
13.79
17
10.78
1.87
0.24
0.00
0.85
0.70
14.44
18
11.32
1.97
0.24
0.00
0.90
0.70
15.13
19
11.88
2.09
0.24
0.00
0.94
0.70
15.85
20
12.48
2.21
0.24
0.00
0.99
0.70
16.61
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.99 Rs/Kwh
3.33 Rs/Kwh
8.32 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
97
Annexure 3.2. E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
4126
4126
2789.54
3174
5.00%
Rs Lacs
%
47.26
5.72%
Rs Lacs
40.00
98
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
206.48
4.17
2
266.83
4.33
3
280.17
4.54
4
294.18
4.77
5
308.89
5.01
6
324.34
5.26
7
340.55
5.52
8
357.58
5.80
9
375.46
6.09
10
394.23
6.39
11
413.94
6.71
12
434.64
7.05
13
456.37
7.40
14
479.19
7.77
15
503.15
8.16
16
528.31
8.57
17
554.73
9.00
18
582.46
9.44
19
611.59
9.92
20
642.16
10.41
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.33
36.03
189.03
3.82
2
49.97
35.01
46.93
23.47
36.03
191.40
3.10
3
52.83
35.01
42.46
24.43
36.03
190.75
3.09
4
55.85
35.01
37.99
25.44
36.03
190.32
3.09
5
59.04
35.01
33.52
26.51
36.03
190.11
3.08
6
62.42
35.01
29.05
27.64
36.03
190.15
3.08
7
65.99
35.01
24.58
28.83
36.03
190.44
3.09
8
69.76
35.01
20.11
30.09
36.03
191.00
3.10
9
73.75
35.01
15.64
31.42
36.03
191.85
3.11
10
77.97
35.01
11.17
32.82
36.03
193.00
3.13
11
82.43
35.01
6.70
34.46
43.23
201.84
3.27
12
87.15
35.01
2.23
36.02
43.23
203.64
3.30
13
92.13
15.04
-2.23
37.21
43.23
185.38
3.01
14
97.40
15.04
0.00
39.09
43.23
194.77
3.16
15
102.97
15.04
0.00
41.02
43.23
202.27
3.28
16
108.87
15.04
0.00
43.05
43.23
210.18
3.41
17
115.09
15.04
0.00
45.17
43.23
218.54
3.54
18
121.68
15.04
0.00
47.41
43.23
227.36
3.69
19
128.64
15.04
0.00
49.76
43.23
236.67
3.84
20
135.99
15.04
0.00
52.24
43.23
246.50
4.00
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.81
1.16
0.52
0.44
0.49
0.63
9.07
1
4.17
0.95
0.71
1.04
0.39
0.73
7.98
2
4.33
0.81
0.57
0.76
0.38
0.58
7.43
3
4.54
0.86
0.57
0.69
0.40
0.58
7.64
4
4.77
0.91
0.57
0.62
0.41
0.58
7.86
5
5.01
0.96
0.57
0.54
0.43
0.58
8.09
6
5.26
1.01
0.57
0.47
0.45
0.58
8.34
7
5.52
1.07
0.57
0.40
0.47
0.58
8.61
8
5.80
1.13
0.57
0.33
0.49
0.58
8.90
9
6.09
1.20
0.57
0.25
0.51
0.58
9.20
10
6.39
1.26
0.57
0.18
0.53
0.58
9.52
11
6.71
1.34
0.57
0.11
0.56
0.70
9.99
12
7.05
1.41
0.57
0.04
0.58
0.70
10.35
13
7.40
1.49
0.24
-0.04
0.60
0.70
10.41
14
7.77
1.58
0.24
0.00
0.63
0.70
10.93
15
8.16
1.67
0.24
0.00
0.67
0.70
11.44
16
8.57
1.77
0.24
0.00
0.70
0.70
11.97
17
9.00
1.87
0.24
0.00
0.73
0.70
12.54
18
9.44
1.97
0.24
0.00
0.77
0.70
13.13
19
9.92
2.09
0.24
0.00
0.81
0.70
13.75
20
10.41
2.21
0.24
0.00
0.85
0.70
14.41
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.17 Rs/Kwh
3.25 Rs/Kwh
7.42 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
99
Annexure 3.2. F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
4126
4126
2761.64
3174
5.00%
Rs Lacs
%
47.26
5.72%
Rs Lacs
40.00
100
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.41
4.13
2
264.16
4.28
3
277.37
4.50
4
291.24
4.72
5
305.80
4.96
6
321.09
5.21
7
337.15
5.47
8
354.00
5.74
9
371.70
6.03
10
390.29
6.33
11
409.80
6.65
12
430.29
6.98
13
451.81
7.33
14
474.40
7.69
15
498.12
8.08
16
523.03
8.48
17
549.18
8.91
18
576.64
9.35
19
605.47
9.82
20
635.74
10.31
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.19
36.03
188.89
3.81
2
49.97
35.01
46.93
23.29
36.03
191.22
3.10
3
52.83
35.01
42.46
24.24
36.03
190.56
3.09
4
55.85
35.01
37.99
25.24
36.03
190.12
3.08
5
59.04
35.01
33.52
26.30
36.03
189.90
3.08
6
62.42
35.01
29.05
27.42
36.03
189.93
3.08
7
65.99
35.01
24.58
28.60
36.03
190.21
3.08
8
69.76
35.01
20.11
29.85
36.03
190.76
3.09
9
73.75
35.01
15.64
31.16
36.03
191.60
3.11
10
77.97
35.01
11.17
32.55
36.03
192.73
3.13
11
82.43
35.01
6.70
34.18
43.23
201.56
3.27
12
87.15
35.01
2.23
35.72
43.23
203.34
3.30
13
92.13
15.04
-2.23
36.90
43.23
185.07
3.00
14
97.40
15.04
0.00
38.77
43.23
194.44
3.15
15
102.97
15.04
0.00
40.68
43.23
201.93
3.27
16
108.87
15.04
0.00
42.69
43.23
209.83
3.40
17
115.09
15.04
0.00
44.80
43.23
218.16
3.54
18
121.68
15.04
0.00
47.02
43.23
226.97
3.68
19
128.64
15.04
0.00
49.35
43.23
236.26
3.83
20
135.99
15.04
0.00
51.80
43.23
246.07
3.99
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.76
1.16
0.52
0.44
0.49
0.63
9.00
1
4.13
0.95
0.71
1.04
0.39
0.73
7.94
2
4.28
0.81
0.57
0.76
0.38
0.58
7.38
3
4.50
0.86
0.57
0.69
0.39
0.58
7.59
4
4.72
0.91
0.57
0.62
0.41
0.58
7.81
5
4.96
0.96
0.57
0.54
0.43
0.58
8.04
6
5.21
1.01
0.57
0.47
0.44
0.58
8.29
7
5.47
1.07
0.57
0.40
0.46
0.58
8.55
8
5.74
1.13
0.57
0.33
0.48
0.58
8.83
9
6.03
1.20
0.57
0.25
0.51
0.58
9.13
10
6.33
1.26
0.57
0.18
0.53
0.58
9.45
11
6.65
1.34
0.57
0.11
0.55
0.70
9.91
12
6.98
1.41
0.57
0.04
0.58
0.70
10.27
13
7.33
1.49
0.24
-0.04
0.60
0.70
10.33
14
7.69
1.58
0.24
0.00
0.63
0.70
10.85
15
8.08
1.67
0.24
0.00
0.66
0.70
11.35
16
8.48
1.77
0.24
0.00
0.69
0.70
11.88
17
8.91
1.87
0.24
0.00
0.73
0.70
12.44
18
9.35
1.97
0.24
0.00
0.76
0.70
13.03
19
9.82
2.09
0.24
0.00
0.80
0.70
13.65
20
10.31
2.21
0.24
0.00
0.84
0.70
14.30
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.13 Rs/Kwh
3.25 Rs/Kwh
7.37 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
101
Annexure 3.2 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80 IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
4126
4126
2856.25
3174
5.00%
Rs Lacs
%
47.26
5.72%
Rs Lacs
40.00
102
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
211.41
4.27
2
273.21
4.43
3
286.87
4.65
4
301.22
4.88
5
316.28
5.13
6
332.09
5.38
7
348.70
5.65
8
366.13
5.94
9
384.44
6.23
10
403.66
6.55
11
423.84
6.87
12
445.04
7.22
13
467.29
7.58
14
490.65
7.96
15
515.18
8.35
16
540.94
8.77
17
567.99
9.21
18
596.39
9.67
19
626.21
10.15
20
657.52
10.66
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.67
36.03
189.37
3.82
2
49.97
35.01
46.93
23.90
36.03
191.84
3.11
3
52.83
35.01
42.46
24.88
36.03
191.20
3.10
4
55.85
35.01
37.99
25.92
36.03
190.79
3.09
5
59.04
35.01
33.52
27.01
36.03
190.61
3.09
6
62.42
35.01
29.05
28.17
36.03
190.67
3.09
7
65.99
35.01
24.58
29.38
36.03
190.99
3.10
8
69.76
35.01
20.11
30.67
36.03
191.58
3.11
9
73.75
35.01
15.64
32.03
36.03
192.46
3.12
10
77.97
35.01
11.17
33.46
36.03
193.64
3.14
11
82.43
35.01
6.70
35.13
43.23
202.51
3.28
12
87.15
35.01
2.23
36.72
43.23
204.34
3.31
13
92.13
15.04
-2.23
37.95
43.23
186.12
3.02
14
97.40
15.04
0.00
39.87
43.23
195.55
3.17
15
102.97
15.04
0.00
41.84
43.23
203.08
3.29
16
108.87
15.04
0.00
43.90
43.23
211.04
3.42
17
115.09
15.04
0.00
46.07
43.23
219.44
3.56
18
121.68
15.04
0.00
48.36
43.23
228.31
3.70
19
128.64
15.04
0.00
50.76
43.23
237.66
3.85
20
135.99
15.04
0.00
53.28
43.23
247.54
4.01
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.95
1.16
0.52
0.44
0.50
0.63
9.21
1
4.27
0.95
0.71
1.04
0.40
0.73
8.09
2
4.43
0.81
0.57
0.76
0.39
0.58
7.54
3
4.65
0.86
0.57
0.69
0.40
0.58
7.75
4
4.88
0.91
0.57
0.62
0.42
0.58
7.98
5
5.13
0.96
0.57
0.54
0.44
0.58
8.22
6
5.38
1.01
0.57
0.47
0.46
0.58
8.48
7
5.65
1.07
0.57
0.40
0.48
0.58
8.75
8
5.94
1.13
0.57
0.33
0.50
0.58
9.04
9
6.23
1.20
0.57
0.25
0.52
0.58
9.35
10
6.55
1.26
0.57
0.18
0.54
0.58
9.69
11
6.87
1.34
0.57
0.11
0.57
0.70
10.16
12
7.22
1.41
0.57
0.04
0.60
0.70
10.53
13
7.58
1.49
0.24
-0.04
0.62
0.70
10.60
14
7.96
1.58
0.24
0.00
0.65
0.70
11.13
15
8.35
1.67
0.24
0.00
0.68
0.70
11.65
16
8.77
1.77
0.24
0.00
0.71
0.70
12.19
17
9.21
1.87
0.24
0.00
0.75
0.70
12.77
18
9.67
1.97
0.24
0.00
0.78
0.70
13.37
19
10.15
2.09
0.24
0.00
0.82
0.70
14.01
20
10.66
2.21
0.24
0.00
0.86
0.70
14.68
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.27 Rs/Kwh
3.26 Rs/Kwh
7.53 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
103
Annexure 3.2. H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
180.133
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
4126
4126
3003.01
3174
5.00%
Rs Lacs
%
47.26
5.72%
Rs Lacs
40.00
104
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
222.28
4.49
2
287.25
4.66
3
301.61
4.89
4
316.70
5.14
5
332.53
5.39
6
349.16
5.66
7
366.61
5.94
8
384.94
6.24
9
404.19
6.55
10
424.40
6.88
11
445.62
7.23
12
467.90
7.59
13
491.30
7.97
14
515.86
8.36
15
541.66
8.78
16
568.74
9.22
17
597.18
9.68
18
627.03
10.17
19
658.39
10.68
20
691.31
11.21
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.01
51.40
20.40
36.03
190.10
3.84
2
49.97
35.01
46.93
24.85
36.03
192.79
3.13
3
52.83
35.01
42.46
25.88
36.03
192.20
3.12
4
55.85
35.01
37.99
26.97
36.03
191.84
3.11
5
59.04
35.01
33.52
28.11
36.03
191.71
3.11
6
62.42
35.01
29.05
29.32
36.03
191.83
3.11
7
65.99
35.01
24.58
30.60
36.03
192.21
3.12
8
69.76
35.01
20.11
31.95
36.03
192.86
3.13
9
73.75
35.01
15.64
33.37
36.03
193.80
3.14
10
77.97
35.01
11.17
34.87
36.03
195.05
3.16
11
82.43
35.01
6.70
36.61
43.23
203.98
3.31
12
87.15
35.01
2.23
38.27
43.23
205.89
3.34
13
92.13
15.04
-2.23
39.58
43.23
187.75
3.04
14
97.40
15.04
0.00
41.58
43.23
197.26
3.20
15
102.97
15.04
0.00
43.63
43.23
204.88
3.32
16
108.87
15.04
0.00
45.79
43.23
212.93
3.45
17
115.09
15.04
0.00
48.05
43.23
221.42
3.59
18
121.68
15.04
0.00
50.43
43.23
230.38
3.74
19
128.64
15.04
0.00
52.94
43.23
239.85
3.89
20
135.99
15.04
0.00
55.57
43.23
249.84
4.05
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.26
1.16
0.52
0.44
0.52
0.63
9.54
1
4.49
0.95
0.71
1.04
0.41
0.73
8.32
2
4.66
0.81
0.57
0.76
0.40
0.58
7.78
3
4.89
0.86
0.57
0.69
0.42
0.58
8.01
4
5.14
0.91
0.57
0.62
0.44
0.58
8.25
5
5.39
0.96
0.57
0.54
0.46
0.58
8.50
6
5.66
1.01
0.57
0.47
0.48
0.58
8.77
7
5.94
1.07
0.57
0.40
0.50
0.58
9.06
8
6.24
1.13
0.57
0.33
0.52
0.58
9.37
9
6.55
1.20
0.57
0.25
0.54
0.58
9.70
10
6.88
1.26
0.57
0.18
0.57
0.58
10.04
11
7.23
1.34
0.57
0.11
0.59
0.70
10.53
12
7.59
1.41
0.57
0.04
0.62
0.70
10.93
13
7.97
1.49
0.24
-0.04
0.64
0.70
11.01
14
8.36
1.58
0.24
0.00
0.67
0.70
11.56
15
8.78
1.67
0.24
0.00
0.71
0.70
12.11
16
9.22
1.77
0.24
0.00
0.74
0.70
12.67
17
9.68
1.87
0.24
0.00
0.78
0.70
13.27
18
10.17
1.97
0.24
0.00
0.82
0.70
13.90
19
10.68
2.09
0.24
0.00
0.86
0.70
14.57
20
11.21
2.21
0.24
0.00
0.90
0.70
15.26
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.49 Rs/Kwh
3.28 Rs/Kwh
7.77 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
105
Annexure 3.3 A
Biomass Power Projects (Rice Straw & Juliflore (plantation) based projects) with water cooled condenser and
using Travelling Grate Boiler
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80 IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2807.74
3174
5.00%
47.26
5.72%
40.00
106
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
207.82
4.10
2
268.57
4.26
3
282.00
4.47
4
296.10
4.69
5
310.91
4.93
6
326.45
5.18
7
342.77
5.43
8
359.91
5.71
9
377.91
5.99
10
396.80
6.29
11
416.65
6.61
12
437.48
6.94
13
459.35
7.28
14
482.32
7.65
15
506.43
8.03
16
531.76
8.43
17
558.34
8.85
18
586.26
9.30
19
615.57
9.76
20
646.35
10.25
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.47
36.65
191.28
3.77
2
49.97
35.61
47.74
23.63
36.65
193.60
3.07
3
52.83
35.61
43.20
24.60
36.65
192.88
3.06
4
55.85
35.61
38.65
25.61
36.65
192.37
3.05
5
59.04
35.61
34.10
26.69
36.65
192.09
3.05
6
62.42
35.61
29.56
27.82
36.65
192.05
3.04
7
65.99
35.61
25.01
29.02
36.65
192.28
3.05
8
69.76
35.61
20.46
30.28
36.65
192.77
3.06
9
73.75
35.61
15.91
31.62
36.65
193.54
3.07
10
77.97
35.61
11.37
33.03
36.65
194.62
3.09
11
82.43
35.61
6.82
34.68
43.98
203.52
3.23
12
87.15
35.61
2.27
36.24
43.98
205.25
3.25
13
92.13
15.30
0.00
37.48
43.98
188.90
2.99
14
97.40
15.30
0.00
39.33
43.98
196.01
3.11
15
102.97
15.30
0.00
41.27
43.98
203.52
3.23
16
108.87
15.30
0.00
43.30
43.98
211.44
3.35
17
115.09
15.30
0.00
45.44
43.98
219.81
3.49
18
121.68
15.30
0.00
47.69
43.98
228.65
3.63
19
128.64
15.30
0.00
50.06
43.98
237.97
3.77
20
135.99
15.30
0.00
52.54
43.98
247.82
3.93
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.72
1.14
0.52
0.44
0.49
0.63
8.93
1
4.10
0.93
0.70
1.03
0.38
0.72
7.88
2
4.26
0.79
0.56
0.76
0.37
0.58
7.33
3
4.47
0.84
0.56
0.68
0.39
0.58
7.53
4
4.69
0.89
0.56
0.61
0.41
0.58
7.74
5
4.93
0.94
0.56
0.54
0.42
0.58
7.97
6
5.18
0.99
0.56
0.47
0.44
0.58
8.22
7
5.43
1.05
0.56
0.40
0.46
0.58
8.48
8
5.71
1.11
0.56
0.32
0.48
0.58
8.76
9
5.99
1.17
0.56
0.25
0.50
0.58
9.06
10
6.29
1.24
0.56
0.18
0.52
0.58
9.38
11
6.61
1.31
0.56
0.11
0.55
0.70
9.83
12
6.94
1.38
0.56
0.04
0.57
0.70
10.19
13
7.28
1.46
0.24
0.00
0.59
0.70
10.28
14
7.65
1.54
0.24
0.00
0.62
0.70
10.75
15
8.03
1.63
0.24
0.00
0.65
0.70
11.26
16
8.43
1.73
0.24
0.00
0.69
0.70
11.78
17
8.85
1.82
0.24
0.00
0.72
0.70
12.34
18
9.30
1.93
0.24
0.00
0.76
0.70
12.92
19
9.76
2.04
0.24
0.00
0.79
0.70
13.53
20
10.25
2.16
0.24
0.00
0.83
0.70
14.18
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.10 Rs/Kwh
3.21 Rs/Kwh
7.31 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
107
Annexure 3.3. B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3195.86
3174
5.00%
47.26
5.72%
40.00
108
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
236.55
4.67
2
305.70
4.85
3
320.98
5.09
4
337.03
5.34
5
353.88
5.61
6
371.58
5.89
7
390.16
6.19
8
409.66
6.50
9
430.15
6.82
10
451.66
7.16
11
474.24
7.52
12
497.95
7.89
13
522.85
8.29
14
548.99
8.70
15
576.44
9.14
16
605.26
9.60
17
635.52
10.08
18
667.30
10.58
19
700.67
11.11
20
735.70
11.66
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
21.42
36.65
193.23
3.81
2
49.97
35.61
47.74
26.15
36.65
196.12
3.11
3
52.83
35.61
43.20
27.24
36.65
195.52
3.10
4
55.85
35.61
38.65
28.39
36.65
195.14
3.09
5
59.04
35.61
34.10
29.60
36.65
195.00
3.09
6
62.42
35.61
29.56
30.88
36.65
195.11
3.09
7
65.99
35.61
25.01
32.23
36.65
195.49
3.10
8
69.76
35.61
20.46
33.66
36.65
196.14
3.11
9
73.75
35.61
15.91
35.16
36.65
197.09
3.12
10
77.97
35.61
11.37
36.75
36.65
198.34
3.14
11
82.43
35.61
6.82
38.58
43.98
207.42
3.29
12
87.15
35.61
2.27
40.34
43.98
209.35
3.32
13
92.13
15.30
0.00
41.79
43.98
193.20
3.06
14
97.40
15.30
0.00
43.85
43.98
200.53
3.18
15
102.97
15.30
0.00
46.01
43.98
208.27
3.30
16
108.87
15.30
0.00
48.29
43.98
216.43
3.43
17
115.09
15.30
0.00
50.68
43.98
225.05
3.57
18
121.68
15.30
0.00
53.19
43.98
234.14
3.71
19
128.64
15.30
0.00
55.83
43.98
243.74
3.86
20
135.99
15.30
0.00
58.60
43.98
253.87
4.03
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.51
1.14
0.52
0.44
0.54
0.63
9.78
1
4.67
0.93
0.70
1.03
0.42
0.72
8.48
2
4.85
0.79
0.56
0.76
0.41
0.58
7.96
3
5.09
0.84
0.56
0.68
0.43
0.58
8.19
4
5.34
0.89
0.56
0.61
0.45
0.58
8.44
5
5.61
0.94
0.56
0.54
0.47
0.58
8.70
6
5.89
0.99
0.56
0.47
0.49
0.58
8.98
7
6.19
1.05
0.56
0.40
0.51
0.58
9.29
8
6.50
1.11
0.56
0.32
0.53
0.58
9.60
9
6.82
1.17
0.56
0.25
0.56
0.58
9.94
10
7.16
1.24
0.56
0.18
0.58
0.58
10.31
11
7.52
1.31
0.56
0.11
0.61
0.70
10.81
12
7.89
1.38
0.56
0.04
0.64
0.70
11.21
13
8.29
1.46
0.24
0.00
0.66
0.70
11.35
14
8.70
1.54
0.24
0.00
0.70
0.70
11.88
15
9.14
1.63
0.24
0.00
0.73
0.70
12.44
16
9.60
1.73
0.24
0.00
0.77
0.70
13.03
17
10.08
1.82
0.24
0.00
0.80
0.70
13.64
18
10.58
1.93
0.24
0.00
0.84
0.70
14.29
19
11.11
2.04
0.24
0.00
0.89
0.70
14.97
20
11.66
2.16
0.24
0.00
0.93
0.70
15.69
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.67 Rs/Kwh
3.26 Rs/Kwh
7.93 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
109
Annexure 3.3. C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3268.62
3174
5.00%
47.26
5.72%
40.00
110
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
241.94
4.77
2
312.66
4.96
3
328.29
5.21
4
344.71
5.47
5
361.94
5.74
6
380.04
6.03
7
399.04
6.33
8
418.99
6.64
9
439.94
6.98
10
461.94
7.32
11
485.04
7.69
12
509.29
8.07
13
534.75
8.48
14
561.49
8.90
15
589.56
9.35
16
619.04
9.81
17
649.99
10.31
18
682.49
10.82
19
716.62
11.36
20
752.45
11.93
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
21.78
36.65
193.60
3.82
2
49.97
35.61
47.74
26.62
36.65
196.59
3.12
3
52.83
35.61
43.20
27.74
36.65
196.01
3.11
4
55.85
35.61
38.65
28.91
36.65
195.66
3.10
5
59.04
35.61
34.10
30.15
36.65
195.55
3.10
6
62.42
35.61
29.56
31.46
36.65
195.69
3.10
7
65.99
35.61
25.01
32.84
36.65
196.09
3.11
8
69.76
35.61
20.46
34.29
36.65
196.77
3.12
9
73.75
35.61
15.91
35.82
36.65
197.75
3.14
10
77.97
35.61
11.37
37.44
36.65
199.04
3.16
11
82.43
35.61
6.82
39.31
43.98
208.15
3.30
12
87.15
35.61
2.27
41.11
43.98
210.12
3.33
13
92.13
15.30
0.00
42.60
43.98
194.01
3.08
14
97.40
15.30
0.00
44.70
43.98
201.38
3.19
15
102.97
15.30
0.00
46.90
43.98
209.15
3.32
16
108.87
15.30
0.00
49.22
43.98
217.36
3.45
17
115.09
15.30
0.00
51.66
43.98
226.03
3.58
18
121.68
15.30
0.00
54.22
43.98
235.17
3.73
19
128.64
15.30
0.00
56.91
43.98
244.82
3.88
20
135.99
15.30
0.00
59.74
43.98
255.01
4.04
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.66
1.14
0.52
0.44
0.55
0.63
9.93
1
4.77
0.93
0.70
1.03
0.43
0.72
8.59
2
4.96
0.79
0.56
0.76
0.42
0.58
8.07
3
5.21
0.84
0.56
0.68
0.44
0.58
8.31
4
5.47
0.89
0.56
0.61
0.46
0.58
8.57
5
5.74
0.94
0.56
0.54
0.48
0.58
8.84
6
6.03
0.99
0.56
0.47
0.50
0.58
9.13
7
6.33
1.05
0.56
0.40
0.52
0.58
9.44
8
6.64
1.11
0.56
0.32
0.54
0.58
9.76
9
6.98
1.17
0.56
0.25
0.57
0.58
10.11
10
7.32
1.24
0.56
0.18
0.59
0.58
10.48
11
7.69
1.31
0.56
0.11
0.62
0.70
10.99
12
8.07
1.38
0.56
0.04
0.65
0.70
11.41
13
8.48
1.46
0.24
0.00
0.68
0.70
11.55
14
8.90
1.54
0.24
0.00
0.71
0.70
12.10
15
9.35
1.63
0.24
0.00
0.74
0.70
12.66
16
9.81
1.73
0.24
0.00
0.78
0.70
13.26
17
10.31
1.82
0.24
0.00
0.82
0.70
13.89
18
10.82
1.93
0.24
0.00
0.86
0.70
14.55
19
11.36
2.04
0.24
0.00
0.90
0.70
15.24
20
11.93
2.16
0.24
0.00
0.95
0.70
15.97
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.77 Rs/Kwh
3.27 Rs/Kwh
8.05 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
111
Annexure 3.3. D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3342.60
3174
5.00%
47.26
5.72%
40.00
112
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
247.41
4.88
2
319.73
5.07
3
335.72
5.32
4
352.51
5.59
5
370.13
5.87
6
388.64
6.16
7
408.07
6.47
8
428.48
6.79
9
449.90
7.13
10
472.39
7.49
11
496.01
7.86
12
520.81
8.26
13
546.86
8.67
14
574.20
9.10
15
602.91
9.56
16
633.05
10.04
17
664.71
10.54
18
697.94
11.07
19
732.84
11.62
20
769.48
12.20
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
22.16
36.65
193.97
3.83
2
49.97
35.61
47.74
27.10
36.65
197.07
3.12
3
52.83
35.61
43.20
28.24
36.65
196.52
3.12
4
55.85
35.61
38.65
29.44
36.65
196.19
3.11
5
59.04
35.61
34.10
30.70
36.65
196.11
3.11
6
62.42
35.61
29.56
32.04
36.65
196.27
3.11
7
65.99
35.61
25.01
33.45
36.65
196.70
3.12
8
69.76
35.61
20.46
34.93
36.65
197.42
3.13
9
73.75
35.61
15.91
36.50
36.65
198.43
3.15
10
77.97
35.61
11.37
38.15
36.65
199.75
3.17
11
82.43
35.61
6.82
40.06
43.98
208.90
3.31
12
87.15
35.61
2.27
41.89
43.98
210.90
3.34
13
92.13
15.30
0.00
43.42
43.98
194.83
3.09
14
97.40
15.30
0.00
45.56
43.98
202.24
3.21
15
102.97
15.30
0.00
47.81
43.98
210.06
3.33
16
108.87
15.30
0.00
50.17
43.98
218.31
3.46
17
115.09
15.30
0.00
52.65
43.98
227.02
3.60
18
121.68
15.30
0.00
55.27
43.98
236.22
3.75
19
128.64
15.30
0.00
58.01
43.98
245.92
3.90
20
135.99
15.30
0.00
60.89
43.98
256.16
4.06
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.81
1.14
0.52
0.44
0.56
0.63
10.10
1
4.88
0.93
0.70
1.03
0.44
0.72
8.71
2
5.07
0.79
0.56
0.76
0.43
0.58
8.19
3
5.32
0.84
0.56
0.68
0.45
0.58
8.44
4
5.59
0.89
0.56
0.61
0.47
0.58
8.70
5
5.87
0.94
0.56
0.54
0.49
0.58
8.98
6
6.16
0.99
0.56
0.47
0.51
0.58
9.27
7
6.47
1.05
0.56
0.40
0.53
0.58
9.59
8
6.79
1.11
0.56
0.32
0.55
0.58
9.92
9
7.13
1.17
0.56
0.25
0.58
0.58
10.28
10
7.49
1.24
0.56
0.18
0.60
0.58
10.66
11
7.86
1.31
0.56
0.11
0.64
0.70
11.18
12
8.26
1.38
0.56
0.04
0.66
0.70
11.60
13
8.67
1.46
0.24
0.00
0.69
0.70
11.76
14
9.10
1.54
0.24
0.00
0.72
0.70
12.31
15
9.56
1.63
0.24
0.00
0.76
0.70
12.89
16
10.04
1.73
0.24
0.00
0.80
0.70
13.50
17
10.54
1.82
0.24
0.00
0.83
0.70
14.14
18
11.07
1.93
0.24
0.00
0.88
0.70
14.81
19
11.62
2.04
0.24
0.00
0.92
0.70
15.52
20
12.20
2.16
0.24
0.00
0.97
0.70
16.26
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.88 Rs/Kwh
3.28 Rs/Kwh
8.17 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
113
Annexure 3.3 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2789.54
3174
5.00%
47.26
5.72%
40.00
114
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
206.48
4.07
2
266.83
4.23
3
280.17
4.44
4
294.18
4.66
5
308.89
4.90
6
324.34
5.14
7
340.55
5.40
8
357.58
5.67
9
375.46
5.95
10
394.23
6.25
11
413.94
6.56
12
434.64
6.89
13
456.37
7.24
14
479.19
7.60
15
503.15
7.98
16
528.31
8.38
17
554.73
8.80
18
582.46
9.23
19
611.59
9.70
20
642.16
10.18
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.38
36.65
191.19
3.77
2
49.97
35.61
47.74
23.52
36.65
193.48
3.07
3
52.83
35.61
43.20
24.47
36.65
192.75
3.06
4
55.85
35.61
38.65
25.48
36.65
192.24
3.05
5
59.04
35.61
34.10
26.55
36.65
191.95
3.04
6
62.42
35.61
29.56
27.68
36.65
191.91
3.04
7
65.99
35.61
25.01
28.87
36.65
192.12
3.05
8
69.76
35.61
20.46
30.13
36.65
192.61
3.05
9
73.75
35.61
15.91
31.45
36.65
193.38
3.07
10
77.97
35.61
11.37
32.85
36.65
194.45
3.08
11
82.43
35.61
6.82
34.49
43.98
203.33
3.22
12
87.15
35.61
2.27
36.05
43.98
205.06
3.25
13
92.13
15.30
0.00
37.28
43.98
188.69
2.99
14
97.40
15.30
0.00
39.12
43.98
195.80
3.10
15
102.97
15.30
0.00
41.04
43.98
203.30
3.22
16
108.87
15.30
0.00
43.07
43.98
211.21
3.35
17
115.09
15.30
0.00
45.20
43.98
219.57
3.48
18
121.68
15.30
0.00
47.44
43.98
228.39
3.62
19
128.64
15.30
0.00
49.79
43.98
237.70
3.77
20
135.99
15.30
0.00
52.26
43.98
247.53
3.92
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.68
1.14
0.52
0.44
0.48
0.63
8.89
1
4.07
0.93
0.70
1.03
0.38
0.72
7.85
2
4.23
0.79
0.56
0.76
0.37
0.58
7.30
3
4.44
0.84
0.56
0.68
0.39
0.58
7.50
4
4.66
0.89
0.56
0.61
0.40
0.58
7.71
5
4.90
0.94
0.56
0.54
0.42
0.58
7.94
6
5.14
0.99
0.56
0.47
0.44
0.58
8.19
7
5.40
1.05
0.56
0.40
0.46
0.58
8.45
8
5.67
1.11
0.56
0.32
0.48
0.58
8.72
9
5.95
1.17
0.56
0.25
0.50
0.58
9.02
10
6.25
1.24
0.56
0.18
0.52
0.58
9.33
11
6.56
1.31
0.56
0.11
0.55
0.70
9.79
12
6.89
1.38
0.56
0.04
0.57
0.70
10.14
13
7.24
1.46
0.24
0.00
0.59
0.70
10.23
14
7.60
1.54
0.24
0.00
0.62
0.70
10.70
15
7.98
1.63
0.24
0.00
0.65
0.70
11.20
16
8.38
1.73
0.24
0.00
0.68
0.70
11.73
17
8.80
1.82
0.24
0.00
0.72
0.70
12.28
18
9.23
1.93
0.24
0.00
0.75
0.70
12.86
19
9.70
2.04
0.24
0.00
0.79
0.70
13.47
20
10.18
2.16
0.24
0.00
0.83
0.70
14.11
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.07 Rs/Kwh
3.21 Rs/Kwh
7.28 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
115
Annexure 3.3. F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2761.64
3174
5.00%
47.26
5.72%
40.00
116
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.41
4.03
2
264.16
4.19
3
277.37
4.40
4
291.24
4.62
5
305.80
4.85
6
321.09
5.09
7
337.15
5.35
8
354.00
5.61
9
371.70
5.89
10
390.29
6.19
11
409.80
6.50
12
430.29
6.82
13
451.81
7.16
14
474.40
7.52
15
498.12
7.90
16
523.03
8.29
17
549.18
8.71
18
576.64
9.14
19
605.47
9.60
20
635.74
10.08
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.24
36.65
191.05
3.77
2
49.97
35.61
47.74
23.33
36.65
193.30
3.06
3
52.83
35.61
43.20
24.28
36.65
192.56
3.05
4
55.85
35.61
38.65
25.28
36.65
192.04
3.04
5
59.04
35.61
34.10
26.34
36.65
191.74
3.04
6
62.42
35.61
29.56
27.46
36.65
191.69
3.04
7
65.99
35.61
25.01
28.64
36.65
191.89
3.04
8
69.76
35.61
20.46
29.88
36.65
192.37
3.05
9
73.75
35.61
15.91
31.20
36.65
193.12
3.06
10
77.97
35.61
11.37
32.58
36.65
194.18
3.08
11
82.43
35.61
6.82
34.21
43.98
203.05
3.22
12
87.15
35.61
2.27
35.75
43.98
204.76
3.25
13
92.13
15.30
0.00
36.97
43.98
188.38
2.99
14
97.40
15.30
0.00
38.79
43.98
195.47
3.10
15
102.97
15.30
0.00
40.70
43.98
202.95
3.22
16
108.87
15.30
0.00
42.71
43.98
210.85
3.34
17
115.09
15.30
0.00
44.82
43.98
219.19
3.48
18
121.68
15.30
0.00
47.04
43.98
227.99
3.61
19
128.64
15.30
0.00
49.37
43.98
237.29
3.76
20
135.99
15.30
0.00
51.82
43.98
247.10
3.92
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.63
1.14
0.52
0.44
0.48
0.63
8.83
1
4.03
0.93
0.70
1.03
0.38
0.72
7.80
2
4.19
0.79
0.56
0.76
0.37
0.58
7.25
3
4.40
0.84
0.56
0.68
0.39
0.58
7.45
4
4.62
0.89
0.56
0.61
0.40
0.58
7.66
5
4.85
0.94
0.56
0.54
0.42
0.58
7.89
6
5.09
0.99
0.56
0.47
0.44
0.58
8.13
7
5.35
1.05
0.56
0.40
0.45
0.58
8.39
8
5.61
1.11
0.56
0.32
0.47
0.58
8.66
9
5.89
1.17
0.56
0.25
0.49
0.58
8.96
10
6.19
1.24
0.56
0.18
0.52
0.58
9.27
11
6.50
1.31
0.56
0.11
0.54
0.70
9.72
12
6.82
1.38
0.56
0.04
0.57
0.70
10.07
13
7.16
1.46
0.24
0.00
0.59
0.70
10.15
14
7.52
1.54
0.24
0.00
0.62
0.70
10.62
15
7.90
1.63
0.24
0.00
0.65
0.70
11.12
16
8.29
1.73
0.24
0.00
0.68
0.70
11.64
17
8.71
1.82
0.24
0.00
0.71
0.70
12.18
18
9.14
1.93
0.24
0.00
0.75
0.70
12.76
19
9.60
2.04
0.24
0.00
0.78
0.70
13.36
20
10.08
2.16
0.24
0.00
0.82
0.70
14.00
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.03 Rs/Kwh
3.20 Rs/Kwh
7.24 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
117
Annexure 3.3 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2856.25
3174
5.00%
47.26
5.72%
40.00
118
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
211.41
4.17
2
273.21
4.33
3
286.87
4.55
4
301.22
4.78
5
316.28
5.01
6
332.09
5.27
7
348.70
5.53
8
366.13
5.80
9
384.44
6.10
10
403.66
6.40
11
423.84
6.72
12
445.04
7.06
13
467.29
7.41
14
490.65
7.78
15
515.18
8.17
16
540.94
8.58
17
567.99
9.01
18
596.39
9.46
19
626.21
9.93
20
657.52
10.42
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.71
36.65
191.53
3.78
2
49.97
35.61
47.74
23.95
36.65
193.92
3.07
3
52.83
35.61
43.20
24.93
36.65
193.21
3.06
4
55.85
35.61
38.65
25.96
36.65
192.71
3.06
5
59.04
35.61
34.10
27.05
36.65
192.45
3.05
6
62.42
35.61
29.56
28.21
36.65
192.44
3.05
7
65.99
35.61
25.01
29.42
36.65
192.68
3.05
8
69.76
35.61
20.46
30.71
36.65
193.19
3.06
9
73.75
35.61
15.91
32.06
36.65
193.99
3.08
10
77.97
35.61
11.37
33.49
36.65
195.09
3.09
11
82.43
35.61
6.82
35.16
43.98
204.00
3.23
12
87.15
35.61
2.27
36.75
43.98
205.76
3.26
13
92.13
15.30
0.00
38.02
43.98
189.43
3.00
14
97.40
15.30
0.00
39.89
43.98
196.57
3.12
15
102.97
15.30
0.00
41.86
43.98
204.11
3.24
16
108.87
15.30
0.00
43.93
43.98
212.07
3.36
17
115.09
15.30
0.00
46.10
43.98
220.47
3.50
18
121.68
15.30
0.00
48.38
43.98
229.33
3.64
19
128.64
15.30
0.00
50.78
43.98
238.69
3.78
20
135.99
15.30
0.00
53.30
43.98
248.57
3.94
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.82
1.14
0.52
0.44
0.49
0.63
9.04
1
4.17
0.93
0.70
1.03
0.39
0.72
7.95
2
4.33
0.79
0.56
0.76
0.38
0.58
7.41
3
4.55
0.84
0.56
0.68
0.40
0.58
7.61
4
4.78
0.89
0.56
0.61
0.41
0.58
7.83
5
5.01
0.94
0.56
0.54
0.43
0.58
8.07
6
5.27
0.99
0.56
0.47
0.45
0.58
8.32
7
5.53
1.05
0.56
0.40
0.47
0.58
8.58
8
5.80
1.11
0.56
0.32
0.49
0.58
8.87
9
6.10
1.17
0.56
0.25
0.51
0.58
9.17
10
6.40
1.24
0.56
0.18
0.53
0.58
9.49
11
6.72
1.31
0.56
0.11
0.56
0.70
9.95
12
7.06
1.38
0.56
0.04
0.58
0.70
10.32
13
7.41
1.46
0.24
0.00
0.60
0.70
10.41
14
7.78
1.54
0.24
0.00
0.63
0.70
10.90
15
8.17
1.63
0.24
0.00
0.66
0.70
11.40
16
8.58
1.73
0.24
0.00
0.70
0.70
11.94
17
9.01
1.82
0.24
0.00
0.73
0.70
12.50
18
9.46
1.93
0.24
0.00
0.77
0.70
13.09
19
9.93
2.04
0.24
0.00
0.81
0.70
13.71
20
10.42
2.16
0.24
0.00
0.85
0.70
14.37
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.17 Rs/Kwh
3.22 Rs/Kwh
7.39 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
119
Annexure 3.3 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
183.239
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3003.01
3174
5.00%
47.26
5.72%
40.00
120
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
222.28
4.39
2
287.25
4.55
3
301.61
4.78
4
316.70
5.02
5
332.53
5.27
6
349.16
5.54
7
366.61
5.81
8
384.94
6.10
9
404.19
6.41
10
424.40
6.73
11
445.62
7.07
12
467.90
7.42
13
491.30
7.79
14
515.86
8.18
15
541.66
8.59
16
568.74
9.02
17
597.18
9.47
18
627.03
9.94
19
658.39
10.44
20
691.31
10.96
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
35.61
52.29
20.45
36.65
192.26
3.79
2
49.97
35.61
47.74
24.90
36.65
194.87
3.09
3
52.83
35.61
43.20
25.93
36.65
194.21
3.08
4
55.85
35.61
38.65
27.01
36.65
193.76
3.07
5
59.04
35.61
34.10
28.15
36.65
193.56
3.07
6
62.42
35.61
29.56
29.36
36.65
193.59
3.07
7
65.99
35.61
25.01
30.64
36.65
193.89
3.07
8
69.76
35.61
20.46
31.98
36.65
194.46
3.08
9
73.75
35.61
15.91
33.40
36.65
195.33
3.10
10
77.97
35.61
11.37
34.90
36.65
196.49
3.12
11
82.43
35.61
6.82
36.64
43.98
205.48
3.26
12
87.15
35.61
2.27
38.30
43.98
207.31
3.29
13
92.13
15.30
0.00
39.65
43.98
191.06
3.03
14
97.40
15.30
0.00
41.60
43.98
198.28
3.14
15
102.97
15.30
0.00
43.65
43.98
205.91
3.26
16
108.87
15.30
0.00
45.81
43.98
213.95
3.39
17
115.09
15.30
0.00
48.08
43.98
222.45
3.53
18
121.68
15.30
0.00
50.46
43.98
231.41
3.67
19
128.64
15.30
0.00
52.96
43.98
240.87
3.82
20
135.99
15.30
0.00
55.59
43.98
250.86
3.98
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.12
1.14
0.52
0.44
0.51
0.63
9.36
1
4.39
0.93
0.70
1.03
0.40
0.72
8.18
2
4.55
0.79
0.56
0.76
0.39
0.58
7.64
3
4.78
0.84
0.56
0.68
0.41
0.58
7.86
4
5.02
0.89
0.56
0.61
0.43
0.58
8.09
5
5.27
0.94
0.56
0.54
0.45
0.58
8.34
6
5.54
0.99
0.56
0.47
0.47
0.58
8.61
7
5.81
1.05
0.56
0.40
0.49
0.58
8.89
8
6.10
1.11
0.56
0.32
0.51
0.58
9.19
9
6.41
1.17
0.56
0.25
0.53
0.58
9.51
10
6.73
1.24
0.56
0.18
0.55
0.58
9.84
11
7.07
1.31
0.56
0.11
0.58
0.70
10.32
12
7.42
1.38
0.56
0.04
0.61
0.70
10.71
13
7.79
1.46
0.24
0.00
0.63
0.70
10.82
14
8.18
1.54
0.24
0.00
0.66
0.70
11.32
15
8.59
1.63
0.24
0.00
0.69
0.70
11.85
16
9.02
1.73
0.24
0.00
0.73
0.70
12.41
17
9.47
1.82
0.24
0.00
0.76
0.70
13.00
18
9.94
1.93
0.24
0.00
0.80
0.70
13.61
19
10.44
2.04
0.24
0.00
0.84
0.70
14.26
20
10.96
2.16
0.24
0.00
0.88
0.70
14.94
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.39 Rs/Kwh
3.24 Rs/Kwh
7.62 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
121
Annexure 3.4. A
Biomass Power Projects (Rice Straw & Juliflore (plantation) based projects) with air cooled condenser and
using Travelling Grate Boiler
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2807.74
3174
5.00%
47.26
5.72%
40.00
122
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
207.82
4.20
2
268.57
4.35
3
282.00
4.57
4
296.10
4.80
5
310.91
5.04
6
326.45
5.29
7
342.77
5.56
8
359.91
5.84
9
377.91
6.13
10
396.80
6.43
11
416.65
6.76
12
437.48
7.09
13
459.35
7.45
14
482.32
7.82
15
506.43
8.21
16
531.76
8.62
17
558.34
9.05
18
586.26
9.51
19
615.57
9.98
20
646.35
10.48
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.66
39.13
199.92
4.04
2
49.97
38.02
50.98
23.82
39.13
201.92
3.27
3
52.83
38.02
46.12
24.77
39.13
200.88
3.26
4
55.85
38.02
41.27
25.78
39.13
200.06
3.24
5
59.04
38.02
36.41
26.85
39.13
199.46
3.23
6
62.42
38.02
31.56
27.98
39.13
199.11
3.23
7
65.99
38.02
26.70
29.17
39.13
199.02
3.23
8
69.76
38.02
21.85
30.43
39.13
199.20
3.23
9
73.75
38.02
16.99
31.75
39.13
199.66
3.24
10
77.97
38.02
12.14
33.15
39.13
200.42
3.25
11
82.43
38.02
7.28
34.81
46.96
209.51
3.40
12
87.15
38.02
2.43
36.37
46.96
210.93
3.42
13
92.13
16.34
0.00
37.58
46.96
193.01
3.13
14
97.40
16.34
0.00
39.42
46.96
200.12
3.24
15
102.97
16.34
0.00
41.36
46.96
207.63
3.37
16
108.87
16.34
0.00
43.39
46.96
215.55
3.50
17
115.09
16.34
0.00
45.53
46.96
223.92
3.63
18
121.68
16.34
0.00
47.78
46.96
232.76
3.77
19
128.64
16.34
0.00
50.15
46.96
242.08
3.93
20
135.99
16.34
0.00
52.64
46.96
251.92
4.09
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.85
1.16
0.57
0.48
0.50
0.69
9.25
1
4.20
0.95
0.77
1.13
0.40
0.79
8.23
2
4.35
0.81
0.62
0.83
0.39
0.63
7.63
3
4.57
0.86
0.62
0.75
0.40
0.63
7.83
4
4.80
0.91
0.62
0.67
0.42
0.63
8.05
5
5.04
0.96
0.62
0.59
0.44
0.63
8.28
6
5.29
1.01
0.62
0.51
0.45
0.63
8.52
7
5.56
1.07
0.62
0.43
0.47
0.63
8.79
8
5.84
1.13
0.62
0.35
0.49
0.63
9.07
9
6.13
1.20
0.62
0.28
0.51
0.63
9.37
10
6.43
1.26
0.62
0.20
0.54
0.63
9.68
11
6.76
1.34
0.62
0.12
0.56
0.76
10.15
12
7.09
1.41
0.62
0.04
0.59
0.76
10.51
13
7.45
1.49
0.26
0.00
0.61
0.76
10.58
14
7.82
1.58
0.26
0.00
0.64
0.76
11.07
15
8.21
1.67
0.26
0.00
0.67
0.76
11.58
16
8.62
1.77
0.26
0.00
0.70
0.76
12.12
17
9.05
1.87
0.26
0.00
0.74
0.76
12.68
18
9.51
1.97
0.26
0.00
0.77
0.76
13.28
19
9.98
2.09
0.26
0.00
0.81
0.76
13.91
20
10.48
2.21
0.26
0.00
0.85
0.76
14.57
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.20 Rs/Kwh
3.40 Rs/Kwh
7.59 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
123
Annexure 3.4 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3195.86
3174
5.00%
47.26
5.72%
40.00
124
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
236.55
4.78
2
305.70
4.96
3
320.98
5.20
4
337.03
5.47
5
353.88
5.74
6
371.58
6.03
7
390.16
6.33
8
409.66
6.64
9
430.15
6.97
10
451.66
7.32
11
474.24
7.69
12
497.95
8.07
13
522.85
8.48
14
548.99
8.90
15
576.44
9.35
16
605.26
9.81
17
635.52
10.31
18
667.30
10.82
19
700.67
11.36
20
735.70
11.93
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
21.61
39.13
201.86
4.07
2
49.97
38.02
50.98
26.34
39.13
204.44
3.32
3
52.83
38.02
46.12
27.42
39.13
203.52
3.30
4
55.85
38.02
41.27
28.56
39.13
202.83
3.29
5
59.04
38.02
36.41
29.77
39.13
202.38
3.28
6
62.42
38.02
31.56
31.04
39.13
202.17
3.28
7
65.99
38.02
26.70
32.38
39.13
202.23
3.28
8
69.76
38.02
21.85
33.80
39.13
202.57
3.28
9
73.75
38.02
16.99
35.30
39.13
203.20
3.29
10
77.97
38.02
12.14
36.87
39.13
204.14
3.31
11
82.43
38.02
7.28
38.71
46.96
213.41
3.46
12
87.15
38.02
2.43
40.47
46.96
215.03
3.49
13
92.13
16.34
0.00
41.88
46.96
197.31
3.20
14
97.40
16.34
0.00
43.94
46.96
204.64
3.32
15
102.97
16.34
0.00
46.10
46.96
212.37
3.44
16
108.87
16.34
0.00
48.38
46.96
220.54
3.58
17
115.09
16.34
0.00
50.77
46.96
229.16
3.72
18
121.68
16.34
0.00
53.28
46.96
238.25
3.86
19
128.64
16.34
0.00
55.92
46.96
247.85
4.02
20
135.99
16.34
0.00
58.69
46.96
257.98
4.18
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.66
1.16
0.57
0.48
0.55
0.69
10.11
1
4.78
0.95
0.77
1.13
0.44
0.79
8.85
2
4.96
0.81
0.62
0.83
0.43
0.63
8.27
3
5.20
0.86
0.62
0.75
0.44
0.63
8.50
4
5.47
0.91
0.62
0.67
0.46
0.63
8.75
5
5.74
0.96
0.62
0.59
0.48
0.63
9.02
6
6.03
1.01
0.62
0.51
0.50
0.63
9.30
7
6.33
1.07
0.62
0.43
0.53
0.63
9.61
8
6.64
1.13
0.62
0.35
0.55
0.63
9.93
9
6.97
1.20
0.62
0.28
0.57
0.63
10.27
10
7.32
1.26
0.62
0.20
0.60
0.63
10.63
11
7.69
1.34
0.62
0.12
0.63
0.76
11.15
12
8.07
1.41
0.62
0.04
0.66
0.76
11.56
13
8.48
1.49
0.26
0.00
0.68
0.76
11.68
14
8.90
1.58
0.26
0.00
0.71
0.76
12.22
15
9.35
1.67
0.26
0.00
0.75
0.76
12.79
16
9.81
1.77
0.26
0.00
0.78
0.76
13.39
17
10.31
1.87
0.26
0.00
0.82
0.76
14.02
18
10.82
1.97
0.26
0.00
0.86
0.76
14.68
19
11.36
2.09
0.26
0.00
0.91
0.76
15.38
20
11.93
2.21
0.26
0.00
0.95
0.76
16.11
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.78 Rs/Kwh
3.45 Rs/Kwh
8.23 Rs/Kwh
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
236.55
4.78
2
305.70
4.96
3
320.98
5.20
4
337.03
5.47
5
353.88
5.74
6
371.58
6.03
7
390.16
6.33
8
409.66
6.64
9
430.15
6.97
10
451.66
7.32
11
474.24
7.69
12
497.95
8.07
13
522.85
8.48
14
548.99
8.90
15
576.44
9.35
16
605.26
9.81
17
635.52
10.31
18
667.30
10.82
19
700.67
11.36
20
735.70
11.93
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
21.61
39.13
201.86
4.07
2
49.97
38.02
50.98
26.34
39.13
204.44
3.32
3
52.83
38.02
46.12
27.42
39.13
203.52
3.30
4
55.85
38.02
41.27
28.56
39.13
202.83
3.29
5
59.04
38.02
36.41
29.77
39.13
202.38
3.28
6
62.42
38.02
31.56
31.04
39.13
202.17
3.28
7
65.99
38.02
26.70
32.38
39.13
202.23
3.28
8
69.76
38.02
21.85
33.80
39.13
202.57
3.28
9
73.75
38.02
16.99
35.30
39.13
203.20
3.29
10
77.97
38.02
12.14
36.87
39.13
204.14
3.31
11
82.43
38.02
7.28
38.71
46.96
213.41
3.46
12
87.15
38.02
2.43
40.47
46.96
215.03
3.49
13
92.13
16.34
0.00
41.88
46.96
197.31
3.20
14
97.40
16.34
0.00
43.94
46.96
204.64
3.32
15
102.97
16.34
0.00
46.10
46.96
212.37
3.44
16
108.87
16.34
0.00
48.38
46.96
220.54
3.58
17
115.09
16.34
0.00
50.77
46.96
229.16
3.72
18
121.68
16.34
0.00
53.28
46.96
238.25
3.86
19
128.64
16.34
0.00
55.92
46.96
247.85
4.02
20
135.99
16.34
0.00
58.69
46.96
257.98
4.18
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.66
1.16
0.57
0.48
0.55
0.69
10.11
1
4.78
0.95
0.77
1.13
0.44
0.79
8.85
2
4.96
0.81
0.62
0.83
0.43
0.63
8.27
3
5.20
0.86
0.62
0.75
0.44
0.63
8.50
4
5.47
0.91
0.62
0.67
0.46
0.63
8.75
5
5.74
0.96
0.62
0.59
0.48
0.63
9.02
6
6.03
1.01
0.62
0.51
0.50
0.63
9.30
7
6.33
1.07
0.62
0.43
0.53
0.63
9.61
8
6.64
1.13
0.62
0.35
0.55
0.63
9.93
9
6.97
1.20
0.62
0.28
0.57
0.63
10.27
10
7.32
1.26
0.62
0.20
0.60
0.63
10.63
11
7.69
1.34
0.62
0.12
0.63
0.76
11.15
12
8.07
1.41
0.62
0.04
0.66
0.76
11.56
13
8.48
1.49
0.26
0.00
0.68
0.76
11.68
14
8.90
1.58
0.26
0.00
0.71
0.76
12.22
15
9.35
1.67
0.26
0.00
0.75
0.76
12.79
16
9.81
1.77
0.26
0.00
0.78
0.76
13.39
17
10.31
1.87
0.26
0.00
0.82
0.76
14.02
18
10.82
1.97
0.26
0.00
0.86
0.76
14.68
19
11.36
2.09
0.26
0.00
0.91
0.76
15.38
20
11.93
2.21
0.26
0.00
0.95
0.76
16.11
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.78 Rs/Kwh
3.45 Rs/Kwh
8.23 Rs/Kwh
125
Annexure 3.4 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3268.62
3174
5.00%
47.26
5.72%
40.00
126
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
241.94
4.88
2
312.66
5.07
3
328.29
5.32
4
344.71
5.59
5
361.94
5.87
6
380.04
6.16
7
399.04
6.47
8
418.99
6.79
9
439.94
7.13
10
461.94
7.49
11
485.04
7.86
12
509.29
8.26
13
534.75
8.67
14
561.49
9.10
15
589.56
9.56
16
619.04
10.04
17
649.99
10.54
18
682.49
11.07
19
716.62
11.62
20
752.45
12.20
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
21.97
39.13
202.23
4.08
2
49.97
38.02
50.98
26.81
39.13
204.91
3.32
3
52.83
38.02
46.12
27.91
39.13
204.02
3.31
4
55.85
38.02
41.27
29.08
39.13
203.35
3.30
5
59.04
38.02
36.41
30.31
39.13
202.92
3.29
6
62.42
38.02
31.56
31.61
39.13
202.75
3.29
7
65.99
38.02
26.70
32.98
39.13
202.83
3.29
8
69.76
38.02
21.85
34.43
39.13
203.20
3.29
9
73.75
38.02
16.99
35.96
39.13
203.86
3.31
10
77.97
38.02
12.14
37.57
39.13
204.84
3.32
11
82.43
38.02
7.28
39.45
46.96
214.14
3.47
12
87.15
38.02
2.43
41.24
46.96
215.79
3.50
13
92.13
16.34
0.00
42.69
46.96
198.12
3.21
14
97.40
16.34
0.00
44.79
46.96
205.49
3.33
15
102.97
16.34
0.00
46.99
46.96
213.26
3.46
16
108.87
16.34
0.00
49.31
46.96
221.47
3.59
17
115.09
16.34
0.00
51.75
46.96
230.14
3.73
18
121.68
16.34
0.00
54.31
46.96
239.28
3.88
19
128.64
16.34
0.00
57.00
46.96
248.93
4.04
20
135.99
16.34
0.00
59.83
46.96
259.12
4.20
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.81
1.16
0.57
0.48
0.56
0.69
10.27
1
4.88
0.95
0.77
1.13
0.44
0.79
8.97
2
5.07
0.81
0.62
0.83
0.43
0.63
8.39
3
5.32
0.86
0.62
0.75
0.45
0.63
8.63
4
5.59
0.91
0.62
0.67
0.47
0.63
8.89
5
5.87
0.96
0.62
0.59
0.49
0.63
9.16
6
6.16
1.01
0.62
0.51
0.51
0.63
9.45
7
6.47
1.07
0.62
0.43
0.53
0.63
9.76
8
6.79
1.13
0.62
0.35
0.56
0.63
10.09
9
7.13
1.20
0.62
0.28
0.58
0.63
10.44
10
7.49
1.26
0.62
0.20
0.61
0.63
10.81
11
7.86
1.34
0.62
0.12
0.64
0.76
11.34
12
8.26
1.41
0.62
0.04
0.67
0.76
11.76
13
8.67
1.49
0.26
0.00
0.69
0.76
11.88
14
9.10
1.58
0.26
0.00
0.73
0.76
12.44
15
9.56
1.67
0.26
0.00
0.76
0.76
13.02
16
10.04
1.77
0.26
0.00
0.80
0.76
13.63
17
10.54
1.87
0.26
0.00
0.84
0.76
14.27
18
11.07
1.97
0.26
0.00
0.88
0.76
14.95
19
11.62
2.09
0.26
0.00
0.92
0.76
15.66
20
12.20
2.21
0.26
0.00
0.97
0.76
16.40
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.88 Rs/Kwh
3.46 Rs/Kwh
8.34 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
127
Annexure 3.4 D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80 IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3342.60
3174
5.00%
47.26
5.72%
40.00
128
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
247.41
4.99
2
319.73
5.18
3
335.72
5.44
4
352.51
5.72
5
370.13
6.00
6
388.64
6.30
7
408.07
6.62
8
428.48
6.95
9
449.90
7.30
10
472.39
7.66
11
496.01
8.04
12
520.81
8.45
13
546.86
8.87
14
574.20
9.31
15
602.91
9.78
16
633.05
10.27
17
664.71
10.78
18
697.94
11.32
19
732.84
11.88
20
769.48
12.48
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
22.35
39.13
202.60
4.09
2
49.97
38.02
50.98
27.29
39.13
205.39
3.33
3
52.83
38.02
46.12
28.42
39.13
204.52
3.32
4
55.85
38.02
41.27
29.61
39.13
203.88
3.31
5
59.04
38.02
36.41
30.87
39.13
203.48
3.30
6
62.42
38.02
31.56
32.20
39.13
203.33
3.30
7
65.99
38.02
26.70
33.60
39.13
203.45
3.30
8
69.76
38.02
21.85
35.08
39.13
203.84
3.31
9
73.75
38.02
16.99
36.64
39.13
204.54
3.32
10
77.97
38.02
12.14
38.28
39.13
205.55
3.33
11
82.43
38.02
7.28
40.19
46.96
214.89
3.48
12
87.15
38.02
2.43
42.02
46.96
216.58
3.51
13
92.13
16.34
0.00
43.51
46.96
198.94
3.23
14
97.40
16.34
0.00
45.65
46.96
206.35
3.35
15
102.97
16.34
0.00
47.90
46.96
214.17
3.47
16
108.87
16.34
0.00
50.26
46.96
222.42
3.61
17
115.09
16.34
0.00
52.75
46.96
231.13
3.75
18
121.68
16.34
0.00
55.36
46.96
240.33
3.90
19
128.64
16.34
0.00
58.10
46.96
250.03
4.05
20
135.99
16.34
0.00
60.98
46.96
260.27
4.22
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.97
1.16
0.57
0.48
0.57
0.69
10.44
1
4.99
0.95
0.77
1.13
0.45
0.79
9.08
2
5.18
0.81
0.62
0.83
0.44
0.63
8.52
3
5.44
0.86
0.62
0.75
0.46
0.63
8.76
4
5.72
0.91
0.62
0.67
0.48
0.63
9.02
5
6.00
0.96
0.62
0.59
0.50
0.63
9.30
6
6.30
1.01
0.62
0.51
0.52
0.63
9.60
7
6.62
1.07
0.62
0.43
0.54
0.63
9.92
8
6.95
1.13
0.62
0.35
0.57
0.63
10.25
9
7.30
1.20
0.62
0.28
0.59
0.63
10.61
10
7.66
1.26
0.62
0.20
0.62
0.63
10.99
11
8.04
1.34
0.62
0.12
0.65
0.76
11.53
12
8.45
1.41
0.62
0.04
0.68
0.76
11.96
13
8.87
1.49
0.26
0.00
0.71
0.76
12.09
14
9.31
1.58
0.26
0.00
0.74
0.76
12.66
15
9.78
1.67
0.26
0.00
0.78
0.76
13.25
16
10.27
1.77
0.26
0.00
0.82
0.76
13.87
17
10.78
1.87
0.26
0.00
0.86
0.76
14.53
18
11.32
1.97
0.26
0.00
0.90
0.76
15.21
19
11.88
2.09
0.26
0.00
0.94
0.76
15.94
20
12.48
2.21
0.26
0.00
0.99
0.76
16.70
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.99 Rs/Kwh
3.47 Rs/Kwh
8.47 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
129
Annexure 3.4 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2789.54
3174
5.00%
47.26
5.72%
40.00
130
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
206.48
4.17
2
266.83
4.33
3
280.17
4.54
4
294.18
4.77
5
308.89
5.01
6
324.34
5.26
7
340.55
5.52
8
357.58
5.80
9
375.46
6.09
10
394.23
6.39
11
413.94
6.71
12
434.64
7.05
13
456.37
7.40
14
479.19
7.77
15
503.15
8.16
16
528.31
8.57
17
554.73
9.00
18
582.46
9.44
19
611.59
9.92
20
642.16
10.41
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.57
39.13
199.83
4.03
2
49.97
38.02
50.98
23.70
39.13
201.80
3.27
3
52.83
38.02
46.12
24.65
39.13
200.76
3.26
4
55.85
38.02
41.27
25.65
39.13
199.93
3.24
5
59.04
38.02
36.41
26.71
39.13
199.33
3.23
6
62.42
38.02
31.56
27.84
39.13
198.97
3.23
7
65.99
38.02
26.70
29.02
39.13
198.87
3.22
8
69.76
38.02
21.85
30.27
39.13
199.04
3.23
9
73.75
38.02
16.99
31.59
39.13
199.49
3.23
10
77.97
38.02
12.14
32.98
39.13
200.25
3.25
11
82.43
38.02
7.28
34.63
46.96
209.32
3.39
12
87.15
38.02
2.43
36.17
46.96
210.73
3.42
13
92.13
16.34
0.00
37.37
46.96
192.80
3.13
14
97.40
16.34
0.00
39.21
46.96
199.91
3.24
15
102.97
16.34
0.00
41.13
46.96
207.41
3.36
16
108.87
16.34
0.00
43.16
46.96
215.32
3.49
17
115.09
16.34
0.00
45.29
46.96
223.68
3.63
18
121.68
16.34
0.00
47.53
46.96
232.50
3.77
19
128.64
16.34
0.00
49.88
46.96
241.81
3.92
20
135.99
16.34
0.00
52.35
46.96
251.64
4.08
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.81
1.16
0.57
0.48
0.50
0.69
9.21
1
4.17
0.95
0.77
1.13
0.40
0.79
8.20
2
4.33
0.81
0.62
0.83
0.38
0.63
7.60
3
4.54
0.86
0.62
0.75
0.40
0.63
7.80
4
4.77
0.91
0.62
0.67
0.42
0.63
8.01
5
5.01
0.96
0.62
0.59
0.43
0.63
8.24
6
5.26
1.01
0.62
0.51
0.45
0.63
8.49
7
5.52
1.07
0.62
0.43
0.47
0.63
8.75
8
5.80
1.13
0.62
0.35
0.49
0.63
9.03
9
6.09
1.20
0.62
0.28
0.51
0.63
9.32
10
6.39
1.26
0.62
0.20
0.53
0.63
9.64
11
6.71
1.34
0.62
0.12
0.56
0.76
10.11
12
7.05
1.41
0.62
0.04
0.59
0.76
10.46
13
7.40
1.49
0.26
0.00
0.61
0.76
10.53
14
7.77
1.58
0.26
0.00
0.64
0.76
11.01
15
8.16
1.67
0.26
0.00
0.67
0.76
11.52
16
8.57
1.77
0.26
0.00
0.70
0.76
12.06
17
9.00
1.87
0.26
0.00
0.73
0.76
12.62
18
9.44
1.97
0.26
0.00
0.77
0.76
13.21
19
9.92
2.09
0.26
0.00
0.81
0.76
13.84
20
10.41
2.21
0.26
0.00
0.85
0.76
14.49
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.17 Rs/Kwh
3.39 Rs/Kwh
7.56 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
131
Annexure 3.4 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2761.64
3174
5.00%
47.26
5.72%
40.00
132
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.41
4.13
2
264.16
4.28
3
277.37
4.50
4
291.24
4.72
5
305.80
4.96
6
321.09
5.21
7
337.15
5.47
8
354.00
5.74
9
371.70
6.03
10
390.29
6.33
11
409.80
6.65
12
430.29
6.98
13
451.81
7.33
14
474.40
7.69
15
498.12
8.08
16
523.03
8.48
17
549.18
8.91
18
576.64
9.35
19
605.47
9.82
20
635.74
10.31
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.43
39.13
199.69
4.03
2
49.97
38.02
50.98
23.52
39.13
201.62
3.27
3
52.83
38.02
46.12
24.46
39.13
200.57
3.25
4
55.85
38.02
41.27
25.45
39.13
199.73
3.24
5
59.04
38.02
36.41
26.51
39.13
199.12
3.23
6
62.42
38.02
31.56
27.62
39.13
198.75
3.22
7
65.99
38.02
26.70
28.79
39.13
198.64
3.22
8
69.76
38.02
21.85
30.03
39.13
198.79
3.22
9
73.75
38.02
16.99
31.33
39.13
199.24
3.23
10
77.97
38.02
12.14
32.71
39.13
199.98
3.24
11
82.43
38.02
7.28
34.34
46.96
209.04
3.39
12
87.15
38.02
2.43
35.88
46.96
210.44
3.41
13
92.13
16.34
0.00
37.06
46.96
192.49
3.12
14
97.40
16.34
0.00
38.88
46.96
199.58
3.24
15
102.97
16.34
0.00
40.79
46.96
207.06
3.36
16
108.87
16.34
0.00
42.80
46.96
214.96
3.49
17
115.09
16.34
0.00
44.91
46.96
223.30
3.62
18
121.68
16.34
0.00
47.13
46.96
232.10
3.76
19
128.64
16.34
0.00
49.46
46.96
241.40
3.91
20
135.99
16.34
0.00
51.92
46.96
251.21
4.07
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.76
1.16
0.57
0.48
0.49
0.69
9.15
1
4.13
0.95
0.77
1.13
0.39
0.79
8.16
2
4.28
0.81
0.62
0.83
0.38
0.63
7.55
3
4.50
0.86
0.62
0.75
0.40
0.63
7.75
4
4.72
0.91
0.62
0.67
0.41
0.63
7.96
5
4.96
0.96
0.62
0.59
0.43
0.63
8.19
6
5.21
1.01
0.62
0.51
0.45
0.63
8.43
7
5.47
1.07
0.62
0.43
0.47
0.63
8.69
8
5.74
1.13
0.62
0.35
0.49
0.63
8.96
9
6.03
1.20
0.62
0.28
0.51
0.63
9.26
10
6.33
1.26
0.62
0.20
0.53
0.63
9.57
11
6.65
1.34
0.62
0.12
0.56
0.76
10.03
12
6.98
1.41
0.62
0.04
0.58
0.76
10.39
13
7.33
1.49
0.26
0.00
0.60
0.76
10.45
14
7.69
1.58
0.26
0.00
0.63
0.76
10.93
15
8.08
1.67
0.26
0.00
0.66
0.76
11.43
16
8.48
1.77
0.26
0.00
0.69
0.76
11.97
17
8.91
1.87
0.26
0.00
0.73
0.76
12.53
18
9.35
1.97
0.26
0.00
0.76
0.76
13.11
19
9.82
2.09
0.26
0.00
0.80
0.76
13.73
20
10.31
2.21
0.26
0.00
0.84
0.76
14.38
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.13 Rs/Kwh
3.39 Rs/Kwh
7.52 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
133
Annexure 3.4 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80 IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
2856.25
3174
5.00%
47.26
5.72%
40.00
134
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
211.41
4.27
2
273.21
4.43
3
286.87
4.65
4
301.22
4.88
5
316.28
5.13
6
332.09
5.38
7
348.70
5.65
8
366.13
5.94
9
384.44
6.23
10
403.66
6.55
11
423.84
6.87
12
445.04
7.22
13
467.29
7.58
14
490.65
7.96
15
515.18
8.35
16
540.94
8.77
17
567.99
9.21
18
596.39
9.67
19
626.21
10.15
20
657.52
10.66
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.91
39.13
200.16
4.04
2
49.97
38.02
50.98
24.13
39.13
202.24
3.28
3
52.83
38.02
46.12
25.10
39.13
201.21
3.26
4
55.85
38.02
41.27
26.13
39.13
200.40
3.25
5
59.04
38.02
36.41
27.22
39.13
199.83
3.24
6
62.42
38.02
31.56
28.36
39.13
199.50
3.23
7
65.99
38.02
26.70
29.57
39.13
199.42
3.23
8
69.76
38.02
21.85
30.85
39.13
199.62
3.24
9
73.75
38.02
16.99
32.20
39.13
200.10
3.24
10
77.97
38.02
12.14
33.62
39.13
200.89
3.26
11
82.43
38.02
7.28
35.30
46.96
210.00
3.41
12
87.15
38.02
2.43
36.88
46.96
211.44
3.43
13
92.13
16.34
0.00
38.11
46.96
193.54
3.14
14
97.40
16.34
0.00
39.98
46.96
200.68
3.25
15
102.97
16.34
0.00
41.95
46.96
208.22
3.38
16
108.87
16.34
0.00
44.02
46.96
216.18
3.51
17
115.09
16.34
0.00
46.19
46.96
224.58
3.64
18
121.68
16.34
0.00
48.47
46.96
233.44
3.79
19
128.64
16.34
0.00
50.87
46.96
242.80
3.94
20
135.99
16.34
0.00
53.39
46.96
252.68
4.10
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.95
1.16
0.57
0.48
0.51
0.69
9.36
1
4.27
0.95
0.77
1.13
0.40
0.79
8.31
2
4.43
0.81
0.62
0.83
0.39
0.63
7.71
3
4.65
0.86
0.62
0.75
0.41
0.63
7.91
4
4.88
0.91
0.62
0.67
0.42
0.63
8.13
5
5.13
0.96
0.62
0.59
0.44
0.63
8.37
6
5.38
1.01
0.62
0.51
0.46
0.63
8.62
7
5.65
1.07
0.62
0.43
0.48
0.63
8.89
8
5.94
1.13
0.62
0.35
0.50
0.63
9.17
9
6.23
1.20
0.62
0.28
0.52
0.63
9.48
10
6.55
1.26
0.62
0.20
0.55
0.63
9.80
11
6.87
1.34
0.62
0.12
0.57
0.76
10.28
12
7.22
1.41
0.62
0.04
0.60
0.76
10.64
13
7.58
1.49
0.26
0.00
0.62
0.76
10.72
14
7.96
1.58
0.26
0.00
0.65
0.76
11.21
15
8.35
1.67
0.26
0.00
0.68
0.76
11.73
16
8.77
1.77
0.26
0.00
0.71
0.76
12.28
17
9.21
1.87
0.26
0.00
0.75
0.76
12.85
18
9.67
1.97
0.26
0.00
0.79
0.76
13.46
19
10.15
2.09
0.26
0.00
0.82
0.76
14.09
20
10.66
2.21
0.26
0.00
0.87
0.76
14.76
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.27 Rs/Kwh
3.40 Rs/Kwh
7.67 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
135
Annexure 3.4 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
195.661
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
80
IA Rate
benefits
%
Yes/No
33.990%
20.000%
Yes
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
Depreciation Rate(power plant)
%
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate %
5.830%
2.505%
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 Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2013-14)
Months
Months
1
15%
2
Months
%
4
13.26%
Kcal/kwh
Kcal/kwh
Rs/T
Kcal/kg
Rs Lacs
%
Rs Lacs
4126
4126
3003.01
3174
5.00%
47.26
5.72%
40.00
136
Determination of Tariff Component: Biomass Power Projects
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
222.28
4.49
2
287.25
4.66
3
301.61
4.89
4
316.70
5.14
5
332.53
5.39
6
349.16
5.66
7
366.61
5.94
8
384.94
6.24
9
404.19
6.55
10
424.40
6.88
11
445.62
7.23
12
467.90
7.59
13
491.30
7.97
14
515.86
8.36
15
541.66
8.78
16
568.74
9.22
17
597.18
9.68
18
627.03
10.17
19
658.39
10.68
20
691.31
11.21
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Levallised tariff corresponding to Useful life
Per Unit Cost of Generation
Variable COG
O&M expn
Depreciation
Int. on term loan
Int. on working capital
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
47.26
38.02
55.83
20.64
39.13
200.90
4.06
2
49.97
38.02
50.98
25.08
39.13
203.19
3.29
3
52.83
38.02
46.12
26.10
39.13
202.21
3.28
4
55.85
38.02
41.27
27.18
39.13
201.45
3.27
5
59.04
38.02
36.41
28.32
39.13
200.93
3.26
6
62.42
38.02
31.56
29.52
39.13
200.65
3.25
7
65.99
38.02
26.70
30.79
39.13
200.64
3.25
8
69.76
38.02
21.85
32.12
39.13
200.89
3.26
9
73.75
38.02
16.99
33.54
39.13
201.44
3.27
10
77.97
38.02
12.14
35.03
39.13
202.29
3.28
11
82.43
38.02
7.28
36.77
46.96
211.47
3.43
12
87.15
38.02
2.43
38.43
46.96
212.99
3.45
13
92.13
16.34
0.00
39.74
46.96
195.17
3.16
14
97.40
16.34
0.00
41.69
46.96
202.39
3.28
15
102.97
16.34
0.00
43.74
46.96
210.02
3.41
16
108.87
16.34
0.00
45.90
46.96
218.06
3.54
17
115.09
16.34
0.00
48.17
46.96
226.56
3.67
18
121.68
16.34
0.00
50.55
46.96
235.52
3.82
19
128.64
16.34
0.00
53.05
46.96
244.98
3.97
20
135.99
16.34
0.00
55.68
46.96
254.97
4.13
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.26
1.16
0.57
0.48
0.53
0.69
9.68
1
4.49
0.95
0.77
1.13
0.42
0.79
8.54
2
4.66
0.81
0.62
0.83
0.41
0.63
7.95
3
4.89
0.86
0.62
0.75
0.42
0.63
8.17
4
5.14
0.91
0.62
0.67
0.44
0.63
8.40
5
5.39
0.96
0.62
0.59
0.46
0.63
8.65
6
5.66
1.01
0.62
0.51
0.48
0.63
8.92
7
5.94
1.07
0.62
0.43
0.50
0.63
9.20
8
6.24
1.13
0.62
0.35
0.52
0.63
9.50
9
6.55
1.20
0.62
0.28
0.54
0.63
9.82
10
6.88
1.26
0.62
0.20
0.57
0.63
10.16
11
7.23
1.34
0.62
0.12
0.60
0.76
10.65
12
7.59
1.41
0.62
0.04
0.62
0.76
11.04
13
7.97
1.49
0.26
0.00
0.64
0.76
11.13
14
8.36
1.58
0.26
0.00
0.68
0.76
11.65
15
8.78
1.67
0.26
0.00
0.71
0.76
12.19
16
9.22
1.77
0.26
0.00
0.74
0.76
12.76
17
9.68
1.87
0.26
0.00
0.78
0.76
13.36
18
10.17
1.97
0.26
0.00
0.82
0.76
13.99
19
10.68
2.09
0.26
0.00
0.86
0.76
14.65
20
11.21
2.21
0.26
0.00
0.90
0.76
15.34
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.49 Rs/Kwh
3.42 Rs/Kwh
7.91 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
137
Annexure 3.5 A
Biomass
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2807.74
3174
5.00%
47.26
5.72%
40.00
138
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
204.65
4.04
2
264.47
4.19
3
277.70
4.40
4
291.58
4.62
5
306.16
4.85
6
321.47
5.10
7
337.54
5.35
8
354.42
5.62
9
372.14
5.90
10
390.75
6.20
11
410.28
6.50
12
430.80
6.83
13
452.34
7.17
14
474.95
7.53
15
498.70
7.91
16
523.64
8.30
17
549.82
8.72
18
577.31
9.15
19
606.18
9.61
20
636.48
10.09
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.02
33.54
180.27
3.56
2
49.97
32.59
43.70
23.13
33.54
182.92
2.90
3
52.83
32.59
39.54
24.08
33.54
182.58
2.89
4
55.85
32.59
35.37
25.10
33.54
182.45
2.89
5
59.04
32.59
31.21
26.16
33.54
182.55
2.89
6
62.42
32.59
27.05
27.29
33.54
182.89
2.90
7
65.99
32.59
22.89
28.48
33.54
183.49
2.91
8
69.76
32.59
18.73
29.73
33.54
184.36
2.92
9
73.75
32.59
14.57
31.06
33.54
185.51
2.94
10
77.97
32.59
10.40
32.45
33.54
186.97
2.96
11
82.43
32.59
6.24
34.08
40.25
195.60
3.10
12
87.15
32.59
2.08
35.63
40.25
197.70
3.13
13
92.13
14.00
0.00
36.90
40.25
183.28
2.91
14
97.40
14.00
0.00
38.72
40.25
190.37
3.02
15
102.97
14.00
0.00
40.63
40.25
197.86
3.14
16
108.87
14.00
0.00
42.64
40.25
205.76
3.26
17
115.09
14.00
0.00
44.75
40.25
214.10
3.39
18
121.68
14.00
0.00
46.97
40.25
222.90
3.53
19
128.64
14.00
0.00
49.31
40.25
232.20
3.68
20
135.99
14.00
0.00
51.76
40.25
242.01
3.84
Levellised
5.63
1.14
0.48
0.40
0.48
0.57
8.70
1
4.04
0.93
0.64
0.94
0.38
0.66
7.60
2
4.19
0.79
0.52
0.69
0.37
0.53
7.09
3
4.40
0.84
0.52
0.63
0.38
0.53
7.30
4
4.62
0.89
0.52
0.56
0.40
0.53
7.52
5
4.85
0.94
0.52
0.49
0.41
0.53
7.75
6
5.10
0.99
0.52
0.43
0.43
0.53
8.00
7
5.35
1.05
0.52
0.36
0.45
0.53
8.26
8
5.62
1.11
0.52
0.30
0.47
0.53
8.54
9
5.90
1.17
0.52
0.23
0.49
0.53
8.84
10
6.20
1.24
0.52
0.16
0.51
0.53
9.16
11
6.50
1.31
0.52
0.10
0.54
0.64
9.61
12
6.83
1.38
0.52
0.03
0.56
0.64
9.96
13
7.17
1.46
0.22
0.00
0.58
0.64
10.08
14
7.53
1.54
0.22
0.00
0.61
0.64
10.55
15
7.91
1.63
0.22
0.00
0.64
0.64
11.04
16
8.30
1.73
0.22
0.00
0.68
0.64
11.56
17
8.72
1.82
0.22
0.00
0.71
0.64
12.11
18
9.15
1.93
0.22
0.00
0.74
0.64
12.69
19
9.61
2.04
0.22
0.00
0.78
0.64
13.29
20
10.09
2.16
0.22
0.00
0.82
0.64
13.93
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.04 Rs/Kwh
3.07 Rs/Kwh
7.10 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
139
Annexure 3.5 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3195.86
3174
5.00%
47.26
5.72%
40.00
140
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
232.94
4.60
2
301.03
4.77
3
316.08
5.01
4
331.89
5.26
5
348.48
5.53
6
365.90
5.80
7
384.20
6.09
8
403.41
6.40
9
423.58
6.72
10
444.76
7.05
11
467.00
7.40
12
490.35
7.77
13
514.86
8.16
14
540.61
8.57
15
567.64
9.00
16
596.02
9.45
17
625.82
9.92
18
657.11
10.42
19
689.97
10.94
20
724.47
11.49
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
20.94
33.54
182.19
3.60
2
49.97
32.59
43.70
25.60
33.54
185.40
2.94
3
52.83
32.59
39.54
26.69
33.54
185.18
2.94
4
55.85
32.59
35.37
27.83
33.54
185.18
2.94
5
59.04
32.59
31.21
29.03
33.54
185.42
2.94
6
62.42
32.59
27.05
30.30
33.54
185.91
2.95
7
65.99
32.59
22.89
31.64
33.54
186.66
2.96
8
69.76
32.59
18.73
33.06
33.54
187.68
2.98
9
73.75
32.59
14.57
34.55
33.54
189.00
3.00
10
77.97
32.59
10.40
36.12
33.54
190.63
3.02
11
82.43
32.59
6.24
37.92
40.25
199.44
3.16
12
87.15
32.59
2.08
39.67
40.25
201.74
3.20
13
92.13
14.00
0.00
41.14
40.25
187.52
2.97
14
97.40
14.00
0.00
43.17
40.25
194.82
3.09
15
102.97
14.00
0.00
45.30
40.25
202.53
3.21
16
108.87
14.00
0.00
47.55
40.25
210.67
3.34
17
115.09
14.00
0.00
49.90
40.25
219.25
3.48
18
121.68
14.00
0.00
52.38
40.25
228.31
3.62
19
128.64
14.00
0.00
54.99
40.25
237.88
3.77
20
135.99
14.00
0.00
57.73
40.25
247.97
3.93
Levellised
6.41
1.14
0.48
0.40
0.53
0.57
9.53
1
4.60
0.93
0.64
0.94
0.41
0.66
8.19
2
4.77
0.79
0.52
0.69
0.41
0.53
7.71
3
5.01
0.84
0.52
0.63
0.42
0.53
7.95
4
5.26
0.89
0.52
0.56
0.44
0.53
8.20
5
5.53
0.94
0.52
0.49
0.46
0.53
8.46
6
5.80
0.99
0.52
0.43
0.48
0.53
8.75
7
6.09
1.05
0.52
0.36
0.50
0.53
9.05
8
6.40
1.11
0.52
0.30
0.52
0.53
9.37
9
6.72
1.17
0.52
0.23
0.55
0.53
9.71
10
7.05
1.24
0.52
0.16
0.57
0.53
10.07
11
7.40
1.31
0.52
0.10
0.60
0.64
10.57
12
7.77
1.38
0.52
0.03
0.63
0.64
10.97
13
8.16
1.46
0.22
0.00
0.65
0.64
11.14
14
8.57
1.54
0.22
0.00
0.68
0.64
11.66
15
9.00
1.63
0.22
0.00
0.72
0.64
12.21
16
9.45
1.73
0.22
0.00
0.75
0.64
12.79
17
9.92
1.82
0.22
0.00
0.79
0.64
13.40
18
10.42
1.93
0.22
0.00
0.83
0.64
14.04
19
10.94
2.04
0.22
0.00
0.87
0.64
14.71
20
11.49
2.16
0.22
0.00
0.92
0.64
15.42
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.60 Rs/Kwh
3.12 Rs/Kwh
7.72 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
141
Annexure 3.5 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3268.62
3174
5.00%
47.26
5.72%
40.00
142
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
238.24
4.70
2
307.88
4.88
3
323.28
5.13
4
339.44
5.38
5
356.41
5.65
6
374.24
5.93
7
392.95
6.23
8
412.59
6.54
9
433.22
6.87
10
454.89
7.21
11
477.63
7.57
12
501.51
7.95
13
526.59
8.35
14
552.92
8.77
15
580.56
9.20
16
609.59
9.66
17
640.07
10.15
18
672.07
10.66
19
705.68
11.19
20
740.96
11.75
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
21.29
33.54
182.55
3.60
2
49.97
32.59
43.70
26.07
33.54
185.87
2.95
3
52.83
32.59
39.54
27.17
33.54
185.67
2.94
4
55.85
32.59
35.37
28.34
33.54
185.70
2.94
5
59.04
32.59
31.21
29.57
33.54
185.96
2.95
6
62.42
32.59
27.05
30.87
33.54
186.47
2.96
7
65.99
32.59
22.89
32.24
33.54
187.25
2.97
8
69.76
32.59
18.73
33.68
33.54
188.30
2.99
9
73.75
32.59
14.57
35.20
33.54
189.65
3.01
10
77.97
32.59
10.40
36.80
33.54
191.31
3.03
11
82.43
32.59
6.24
38.65
40.25
200.16
3.17
12
87.15
32.59
2.08
40.43
40.25
202.50
3.21
13
92.13
14.00
0.00
41.93
40.25
188.32
2.99
14
97.40
14.00
0.00
44.00
40.25
195.66
3.10
15
102.97
14.00
0.00
46.18
40.25
203.41
3.23
16
108.87
14.00
0.00
48.47
40.25
211.59
3.35
17
115.09
14.00
0.00
50.87
40.25
220.22
3.49
18
121.68
14.00
0.00
53.40
40.25
229.33
3.64
19
128.64
14.00
0.00
56.05
40.25
238.94
3.79
20
135.99
14.00
0.00
58.85
40.25
249.09
3.95
Levellised
6.56
1.14
0.48
0.40
0.54
0.57
9.69
1
4.70
0.93
0.64
0.94
0.42
0.66
8.30
2
4.88
0.79
0.52
0.69
0.41
0.53
7.83
3
5.13
0.84
0.52
0.63
0.43
0.53
8.07
4
5.38
0.89
0.52
0.56
0.45
0.53
8.33
5
5.65
0.94
0.52
0.49
0.47
0.53
8.60
6
5.93
0.99
0.52
0.43
0.49
0.53
8.89
7
6.23
1.05
0.52
0.36
0.51
0.53
9.20
8
6.54
1.11
0.52
0.30
0.53
0.53
9.53
9
6.87
1.17
0.52
0.23
0.56
0.53
9.88
10
7.21
1.24
0.52
0.16
0.58
0.53
10.25
11
7.57
1.31
0.52
0.10
0.61
0.64
10.75
12
7.95
1.38
0.52
0.03
0.64
0.64
11.16
13
8.35
1.46
0.22
0.00
0.66
0.64
11.33
14
8.77
1.54
0.22
0.00
0.70
0.64
11.87
15
9.20
1.63
0.22
0.00
0.73
0.64
12.43
16
9.66
1.73
0.22
0.00
0.77
0.64
13.02
17
10.15
1.82
0.22
0.00
0.81
0.64
13.64
18
10.66
1.93
0.22
0.00
0.85
0.64
14.29
19
11.19
2.04
0.22
0.00
0.89
0.64
14.98
20
11.75
2.16
0.22
0.00
0.93
0.64
15.70
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.70 Rs/Kwh
3.13 Rs/Kwh
7.83 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
143
Annexure 3.5 D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3342.60
3174
5.00%
47.26
5.72%
40.00
144
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
243.64
4.81
2
314.85
4.99
3
330.60
5.24
4
347.13
5.50
5
364.48
5.78
6
382.71
6.07
7
401.84
6.37
8
421.93
6.69
9
443.03
7.02
10
465.18
7.38
11
488.44
7.74
12
512.86
8.13
13
538.51
8.54
14
565.43
8.96
15
593.70
9.41
16
623.39
9.88
17
654.56
10.38
18
687.28
10.90
19
721.65
11.44
20
757.73
12.01
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
21.66
33.54
182.92
3.61
2
49.97
32.59
43.70
26.54
33.54
186.34
2.95
3
52.83
32.59
39.54
27.67
33.54
186.17
2.95
4
55.85
32.59
35.37
28.86
33.54
186.22
2.95
5
59.04
32.59
31.21
30.12
33.54
186.50
2.96
6
62.42
32.59
27.05
31.44
33.54
187.05
2.97
7
65.99
32.59
22.89
32.84
33.54
187.85
2.98
8
69.76
32.59
18.73
34.31
33.54
188.94
3.00
9
73.75
32.59
14.57
35.87
33.54
190.32
3.02
10
77.97
32.59
10.40
37.50
33.54
192.01
3.04
11
82.43
32.59
6.24
39.38
40.25
200.90
3.19
12
87.15
32.59
2.08
41.20
40.25
203.27
3.22
13
92.13
14.00
0.00
42.74
40.25
189.13
3.00
14
97.40
14.00
0.00
44.85
40.25
196.51
3.12
15
102.97
14.00
0.00
47.07
40.25
204.30
3.24
16
108.87
14.00
0.00
49.40
40.25
212.52
3.37
17
115.09
14.00
0.00
51.85
40.25
221.20
3.51
18
121.68
14.00
0.00
54.43
40.25
230.36
3.65
19
128.64
14.00
0.00
57.14
40.25
240.03
3.81
20
135.99
14.00
0.00
59.98
40.25
250.23
3.97
Levellised
6.71
1.14
0.48
0.40
0.55
0.57
9.85
1
4.81
0.93
0.64
0.94
0.43
0.66
8.42
2
4.99
0.79
0.52
0.69
0.42
0.53
7.95
3
5.24
0.84
0.52
0.63
0.44
0.53
8.19
4
5.50
0.89
0.52
0.56
0.46
0.53
8.46
5
5.78
0.94
0.52
0.49
0.48
0.53
8.74
6
6.07
0.99
0.52
0.43
0.50
0.53
9.03
7
6.37
1.05
0.52
0.36
0.52
0.53
9.35
8
6.69
1.11
0.52
0.30
0.54
0.53
9.69
9
7.02
1.17
0.52
0.23
0.57
0.53
10.04
10
7.38
1.24
0.52
0.16
0.59
0.53
10.42
11
7.74
1.31
0.52
0.10
0.62
0.64
10.93
12
8.13
1.38
0.52
0.03
0.65
0.64
11.35
13
8.54
1.46
0.22
0.00
0.68
0.64
11.54
14
8.96
1.54
0.22
0.00
0.71
0.64
12.08
15
9.41
1.63
0.22
0.00
0.75
0.64
12.65
16
9.88
1.73
0.22
0.00
0.78
0.64
13.25
17
10.38
1.82
0.22
0.00
0.82
0.64
13.89
18
10.90
1.93
0.22
0.00
0.86
0.64
14.55
19
11.44
2.04
0.22
0.00
0.91
0.64
15.25
20
12.01
2.16
0.22
0.00
0.95
0.64
15.98
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.81 Rs/Kwh
3.14 Rs/Kwh
7.95 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
145
Annexure 3.5 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2789.54
3174
5.00%
47.26
5.72%
40.00
146
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
203.32
4.01
2
262.76
4.17
3
275.90
4.37
4
289.69
4.59
5
304.18
4.82
6
319.38
5.06
7
335.35
5.32
8
352.12
5.58
9
369.73
5.86
10
388.21
6.16
11
407.62
6.46
12
428.01
6.79
13
449.41
7.13
14
471.88
7.48
15
495.47
7.86
16
520.24
8.25
17
546.26
8.66
18
573.57
9.09
19
602.25
9.55
20
632.36
10.03
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
18.93
33.54
180.18
3.56
2
49.97
32.59
43.70
23.01
33.54
182.81
2.90
3
52.83
32.59
39.54
23.96
33.54
182.46
2.89
4
55.85
32.59
35.37
24.97
33.54
182.32
2.89
5
59.04
32.59
31.21
26.03
33.54
182.42
2.89
6
62.42
32.59
27.05
27.15
33.54
182.75
2.90
7
65.99
32.59
22.89
28.33
33.54
183.34
2.91
8
69.76
32.59
18.73
29.58
33.54
184.20
2.92
9
73.75
32.59
14.57
30.89
33.54
185.35
2.94
10
77.97
32.59
10.40
32.28
33.54
186.79
2.96
11
82.43
32.59
6.24
33.90
40.25
195.42
3.10
12
87.15
32.59
2.08
35.44
40.25
197.51
3.13
13
92.13
14.00
0.00
36.70
40.25
183.08
2.90
14
97.40
14.00
0.00
38.51
40.25
190.16
3.02
15
102.97
14.00
0.00
40.41
40.25
197.64
3.13
16
108.87
14.00
0.00
42.41
40.25
205.53
3.26
17
115.09
14.00
0.00
44.51
40.25
213.86
3.39
18
121.68
14.00
0.00
46.72
40.25
222.65
3.53
19
128.64
14.00
0.00
49.04
40.25
231.93
3.68
20
135.99
14.00
0.00
51.48
40.25
241.73
3.83
Levellised
5.60
1.14
0.48
0.40
0.47
0.57
8.66
1
4.01
0.93
0.64
0.94
0.37
0.66
7.57
2
4.17
0.79
0.52
0.69
0.36
0.53
7.06
3
4.37
0.84
0.52
0.63
0.38
0.53
7.27
4
4.59
0.89
0.52
0.56
0.40
0.53
7.48
5
4.82
0.94
0.52
0.49
0.41
0.53
7.71
6
5.06
0.99
0.52
0.43
0.43
0.53
7.96
7
5.32
1.05
0.52
0.36
0.45
0.53
8.22
8
5.58
1.11
0.52
0.30
0.47
0.53
8.50
9
5.86
1.17
0.52
0.23
0.49
0.53
8.80
10
6.16
1.24
0.52
0.16
0.51
0.53
9.12
11
6.46
1.31
0.52
0.10
0.54
0.64
9.56
12
6.79
1.38
0.52
0.03
0.56
0.64
9.92
13
7.13
1.46
0.22
0.00
0.58
0.64
10.03
14
7.48
1.54
0.22
0.00
0.61
0.64
10.50
15
7.86
1.63
0.22
0.00
0.64
0.64
10.99
16
8.25
1.73
0.22
0.00
0.67
0.64
11.51
17
8.66
1.82
0.22
0.00
0.71
0.64
12.05
18
9.09
1.93
0.22
0.00
0.74
0.64
12.62
19
9.55
2.04
0.22
0.00
0.78
0.64
13.23
20
10.03
2.16
0.22
0.00
0.82
0.64
13.86
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.01 Rs/Kwh
3.06 Rs/Kwh
7.08 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
147
Annexure 3.5 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2761.64
3174
5.00%
47.26
5.72%
40.00
148
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
201.29
3.97
2
260.13
4.12
3
273.14
4.33
4
286.79
4.55
5
301.13
4.77
6
316.19
5.01
7
332.00
5.26
8
348.60
5.53
9
366.03
5.80
10
384.33
6.09
11
403.55
6.40
12
423.72
6.72
13
444.91
7.05
14
467.16
7.41
15
490.51
7.78
16
515.04
8.17
17
540.79
8.57
18
567.83
9.00
19
596.22
9.45
20
626.03
9.93
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
18.79
33.54
180.05
3.55
2
49.97
32.59
43.70
22.83
33.54
182.63
2.90
3
52.83
32.59
39.54
23.77
33.54
182.27
2.89
4
55.85
32.59
35.37
24.77
33.54
182.13
2.89
5
59.04
32.59
31.21
25.82
33.54
182.21
2.89
6
62.42
32.59
27.05
26.93
33.54
182.54
2.89
7
65.99
32.59
22.89
28.10
33.54
183.12
2.90
8
69.76
32.59
18.73
29.34
33.54
183.96
2.92
9
73.75
32.59
14.57
30.64
33.54
185.10
2.93
10
77.97
32.59
10.40
32.02
33.54
186.53
2.96
11
82.43
32.59
6.24
33.62
40.25
195.14
3.09
12
87.15
32.59
2.08
35.15
40.25
197.22
3.13
13
92.13
14.00
0.00
36.39
40.25
182.78
2.90
14
97.40
14.00
0.00
38.19
40.25
189.84
3.01
15
102.97
14.00
0.00
40.07
40.25
197.30
3.13
16
108.87
14.00
0.00
42.06
40.25
205.17
3.25
17
115.09
14.00
0.00
44.14
40.25
213.49
3.38
18
121.68
14.00
0.00
46.33
40.25
222.26
3.52
19
128.64
14.00
0.00
48.63
40.25
231.52
3.67
20
135.99
14.00
0.00
51.05
40.25
241.30
3.83
Levellised
5.54
1.14
0.48
0.40
0.47
0.57
8.60
1
3.97
0.93
0.64
0.94
0.37
0.66
7.52
2
4.12
0.79
0.52
0.69
0.36
0.53
7.02
3
4.33
0.84
0.52
0.63
0.38
0.53
7.22
4
4.55
0.89
0.52
0.56
0.39
0.53
7.43
5
4.77
0.94
0.52
0.49
0.41
0.53
7.66
6
5.01
0.99
0.52
0.43
0.43
0.53
7.91
7
5.26
1.05
0.52
0.36
0.45
0.53
8.17
8
5.53
1.11
0.52
0.30
0.47
0.53
8.44
9
5.80
1.17
0.52
0.23
0.49
0.53
8.74
10
6.09
1.24
0.52
0.16
0.51
0.53
9.05
11
6.40
1.31
0.52
0.10
0.53
0.64
9.49
12
6.72
1.38
0.52
0.03
0.56
0.64
9.85
13
7.05
1.46
0.22
0.00
0.58
0.64
9.95
14
7.41
1.54
0.22
0.00
0.61
0.64
10.42
15
7.78
1.63
0.22
0.00
0.64
0.64
10.91
16
8.17
1.73
0.22
0.00
0.67
0.64
11.42
17
8.57
1.82
0.22
0.00
0.70
0.64
11.96
18
9.00
1.93
0.22
0.00
0.73
0.64
12.53
19
9.45
2.04
0.22
0.00
0.77
0.64
13.12
20
9.93
2.16
0.22
0.00
0.81
0.64
13.75
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
3.97 Rs/Kwh
3.06 Rs/Kwh
7.03 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
149
Annexure 3.5 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2856.25
3174
5.00%
47.26
5.72%
40.00
150
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
208.19
4.11
2
269.04
4.27
3
282.49
4.48
4
296.62
4.70
5
311.45
4.94
6
327.02
5.18
7
343.37
5.44
8
360.54
5.72
9
378.57
6.00
10
397.50
6.30
11
417.37
6.62
12
438.24
6.95
13
460.15
7.30
14
483.16
7.66
15
507.32
8.04
16
532.68
8.45
17
559.32
8.87
18
587.28
9.31
19
616.65
9.78
20
647.48
10.27
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.26
33.54
180.51
3.56
2
49.97
32.59
43.70
23.44
33.54
183.23
2.91
3
52.83
32.59
39.54
24.41
33.54
182.90
2.90
4
55.85
32.59
35.37
25.44
33.54
182.79
2.90
5
59.04
32.59
31.21
26.52
33.54
182.91
2.90
6
62.42
32.59
27.05
27.67
33.54
183.27
2.91
7
65.99
32.59
22.89
28.87
33.54
183.89
2.92
8
69.76
32.59
18.73
30.15
33.54
184.77
2.93
9
73.75
32.59
14.57
31.49
33.54
185.95
2.95
10
77.97
32.59
10.40
32.91
33.54
187.42
2.97
11
82.43
32.59
6.24
34.56
40.25
196.08
3.11
12
87.15
32.59
2.08
36.14
40.25
198.21
3.14
13
92.13
14.00
0.00
37.43
40.25
183.81
2.91
14
97.40
14.00
0.00
39.27
40.25
190.93
3.03
15
102.97
14.00
0.00
41.21
40.25
198.44
3.15
16
108.87
14.00
0.00
43.25
40.25
206.37
3.27
17
115.09
14.00
0.00
45.40
40.25
214.74
3.40
18
121.68
14.00
0.00
47.65
40.25
223.58
3.54
19
128.64
14.00
0.00
50.02
40.25
232.91
3.69
20
135.99
14.00
0.00
52.51
40.25
242.75
3.85
Levellised
5.73
1.14
0.48
0.40
0.48
0.57
8.80
1
4.11
0.93
0.64
0.94
0.38
0.66
7.67
2
4.27
0.79
0.52
0.69
0.37
0.53
7.17
3
4.48
0.84
0.52
0.63
0.39
0.53
7.38
4
4.70
0.89
0.52
0.56
0.40
0.53
7.60
5
4.94
0.94
0.52
0.49
0.42
0.53
7.84
6
5.18
0.99
0.52
0.43
0.44
0.53
8.09
7
5.44
1.05
0.52
0.36
0.46
0.53
8.36
8
5.72
1.11
0.52
0.30
0.48
0.53
8.65
9
6.00
1.17
0.52
0.23
0.50
0.53
8.95
10
6.30
1.24
0.52
0.16
0.52
0.53
9.27
11
6.62
1.31
0.52
0.10
0.55
0.64
9.73
12
6.95
1.38
0.52
0.03
0.57
0.64
10.09
13
7.30
1.46
0.22
0.00
0.59
0.64
10.21
14
7.66
1.54
0.22
0.00
0.62
0.64
10.69
15
8.04
1.63
0.22
0.00
0.65
0.64
11.19
16
8.45
1.73
0.22
0.00
0.69
0.64
11.72
17
8.87
1.82
0.22
0.00
0.72
0.64
12.27
18
9.31
1.93
0.22
0.00
0.76
0.64
12.86
19
9.78
2.04
0.22
0.00
0.79
0.64
13.47
20
10.27
2.16
0.22
0.00
0.83
0.64
14.11
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.11 Rs/Kwh
3.07 Rs/Kwh
7.18 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
151
Annexure 3.5 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
559.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
391.323
167.710
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
391.323
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
167.710
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3003.01
3174
5.00%
47.26
5.72%
40.00
152
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
218.88
4.32
2
282.87
4.48
3
297.01
4.71
4
311.86
4.94
5
327.45
5.19
6
343.83
5.45
7
361.02
5.72
8
379.07
6.01
9
398.02
6.31
10
417.92
6.63
11
438.82
6.96
12
460.76
7.31
13
483.80
7.67
14
507.99
8.05
15
533.39
8.46
16
560.05
8.88
17
588.06
9.32
18
617.46
9.79
19
648.33
10.28
20
680.75
10.79
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
32.59
47.86
19.98
33.54
181.24
3.58
2
49.97
32.59
43.70
24.37
33.54
184.17
2.92
3
52.83
32.59
39.54
25.39
33.54
183.89
2.92
4
55.85
32.59
35.37
26.47
33.54
183.82
2.91
5
59.04
32.59
31.21
27.61
33.54
183.99
2.92
6
62.42
32.59
27.05
28.81
33.54
184.41
2.92
7
65.99
32.59
22.89
30.07
33.54
185.08
2.93
8
69.76
32.59
18.73
31.41
33.54
186.03
2.95
9
73.75
32.59
14.57
32.81
33.54
187.27
2.97
10
77.97
32.59
10.40
34.30
33.54
188.81
2.99
11
82.43
32.59
6.24
36.01
40.25
197.53
3.13
12
87.15
32.59
2.08
37.66
40.25
199.73
3.17
13
92.13
14.00
0.00
39.03
40.25
185.42
2.94
14
97.40
14.00
0.00
40.96
40.25
192.61
3.05
15
102.97
14.00
0.00
42.98
40.25
200.21
3.17
16
108.87
14.00
0.00
45.11
40.25
208.23
3.30
17
115.09
14.00
0.00
47.34
40.25
216.69
3.44
18
121.68
14.00
0.00
49.69
40.25
225.62
3.58
19
128.64
14.00
0.00
52.17
40.25
235.06
3.73
20
135.99
14.00
0.00
54.76
40.25
245.01
3.88
Levellised
6.03
1.14
0.48
0.40
0.50
0.57
9.12
1
4.32
0.93
0.64
0.94
0.39
0.66
7.90
2
4.48
0.79
0.52
0.69
0.39
0.53
7.40
3
4.71
0.84
0.52
0.63
0.40
0.53
7.62
4
4.94
0.89
0.52
0.56
0.42
0.53
7.86
5
5.19
0.94
0.52
0.49
0.44
0.53
8.11
6
5.45
0.99
0.52
0.43
0.46
0.53
8.38
7
5.72
1.05
0.52
0.36
0.48
0.53
8.66
8
6.01
1.11
0.52
0.30
0.50
0.53
8.96
9
6.31
1.17
0.52
0.23
0.52
0.53
9.28
10
6.63
1.24
0.52
0.16
0.54
0.53
9.62
11
6.96
1.31
0.52
0.10
0.57
0.64
10.09
12
7.31
1.38
0.52
0.03
0.60
0.64
10.47
13
7.67
1.46
0.22
0.00
0.62
0.64
10.61
14
8.05
1.54
0.22
0.00
0.65
0.64
11.11
15
8.46
1.63
0.22
0.00
0.68
0.64
11.63
16
8.88
1.73
0.22
0.00
0.72
0.64
12.18
17
9.32
1.82
0.22
0.00
0.75
0.64
12.76
18
9.79
1.93
0.22
0.00
0.79
0.64
13.37
19
10.28
2.04
0.22
0.00
0.83
0.64
14.01
20
10.79
2.16
0.22
0.00
0.87
0.64
14.68
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.32 Rs/Kwh
3.09 Rs/Kwh
7.41 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
559.033
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.76
2
5.28%
29.52
3
5.28%
29.52
4
5.28%
29.52
5
5.28%
29.52
6
5.28%
29.52
7
5.28%
29.52
8
5.28%
29.52
9
5.28%
29.52
10
5.28%
29.52
11
5.28%
29.52
12
5.28%
29.52
13
5.28%
29.52
14
5.28%
29.52
15
5.28%
29.52
16
5.28%
29.52
17
5.28%
29.52
18
2.88%
16.10
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
279.52
50.00%
45.00%
5%
251.56
5.00%
4.00%
1.00%
22.36
1.00%
0.80%
0.20%
4.47
0.20%
0.16%
0.04%
0.89
0.04%
0.03%
0.01%
0.18
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
264.76
89.99
2.53
3.55
222.05
75.47
6.31
1.20
-7.16
-2.43
6.31
-0.04
-25.04
-8.51
6.31
-0.13
-28.62
-9.73
6.31
-0.15
-29.34
-9.97
6.31
-0.16
-29.48
-10.02
6.31
-0.16
-29.51
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-29.52
-10.03
6.31
-0.16
-16.10
-5.47
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.18
(Rs/kWh)
153
Annexure 3.6 A
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2807.74
3174
5.00%
47.26
5.72%
40.00
154
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.65
4.13
2
264.47
4.29
3
277.70
4.50
4
291.58
4.73
5
306.16
4.96
6
321.47
5.21
7
337.54
5.47
8
354.42
5.75
9
372.14
6.03
10
390.75
6.34
11
410.28
6.65
12
430.80
6.99
13
452.34
7.33
14
474.95
7.70
15
498.70
8.09
16
523.64
8.49
17
549.82
8.92
18
577.31
9.36
19
606.18
9.83
20
636.48
10.32
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.21
36.03
188.91
3.81
2
49.97
35.01
46.93
23.31
36.03
191.24
3.10
3
52.83
35.01
42.46
24.26
36.03
190.58
3.09
4
55.85
35.01
37.99
25.26
36.03
190.14
3.08
5
59.04
35.01
33.52
26.33
36.03
189.92
3.08
6
62.42
35.01
29.05
27.45
36.03
189.95
3.08
7
65.99
35.01
24.58
28.63
36.03
190.23
3.08
8
69.76
35.01
20.11
29.88
36.03
190.79
3.09
9
73.75
35.01
15.64
31.19
36.03
191.63
3.11
10
77.97
35.01
11.17
32.58
36.03
192.76
3.13
11
82.43
35.01
6.70
34.21
43.23
201.59
3.27
12
87.15
35.01
2.23
35.76
43.23
203.38
3.30
13
92.13
15.04
-2.23
36.94
43.23
185.11
3.00
14
97.40
15.04
0.00
38.81
43.23
194.48
3.15
15
102.97
15.04
0.00
40.72
43.23
201.97
3.27
16
108.87
15.04
0.00
42.73
43.23
209.87
3.40
17
115.09
15.04
0.00
44.84
43.23
218.21
3.54
18
121.68
15.04
0.00
47.06
43.23
227.01
3.68
19
128.64
15.04
0.00
49.40
43.23
236.31
3.83
20
135.99
15.04
0.00
51.85
43.23
246.12
3.99
Levellised
5.76
1.16
0.52
0.44
0.49
0.63
9.01
1
4.13
0.95
0.71
1.04
0.39
0.73
7.94
2
4.29
0.81
0.57
0.76
0.38
0.58
7.39
3
4.50
0.86
0.57
0.69
0.39
0.58
7.59
4
4.73
0.91
0.57
0.62
0.41
0.58
7.81
5
4.96
0.96
0.57
0.54
0.43
0.58
8.04
6
5.21
1.01
0.57
0.47
0.45
0.58
8.29
7
5.47
1.07
0.57
0.40
0.46
0.58
8.56
8
5.75
1.13
0.57
0.33
0.48
0.58
8.84
9
6.03
1.20
0.57
0.25
0.51
0.58
9.14
10
6.34
1.26
0.57
0.18
0.53
0.58
9.46
11
6.65
1.34
0.57
0.11
0.55
0.70
9.92
12
6.99
1.41
0.57
0.04
0.58
0.70
10.28
13
7.33
1.49
0.24
-0.04
0.60
0.70
10.34
14
7.70
1.58
0.24
0.00
0.63
0.70
10.86
15
8.09
1.67
0.24
0.00
0.66
0.70
11.36
16
8.49
1.77
0.24
0.00
0.69
0.70
11.89
17
8.92
1.87
0.24
0.00
0.73
0.70
12.45
18
9.36
1.97
0.24
0.00
0.76
0.70
13.04
19
9.83
2.09
0.24
0.00
0.80
0.70
13.66
20
10.32
2.21
0.24
0.00
0.84
0.70
14.31
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.13 Rs/Kwh
3.25 Rs/Kwh
7.38 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
155
Annexure 3.6 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3195.86
3174
5.00%
47.26
5.72%
40.00
156
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
232.94
4.70
2
301.03
4.88
3
316.08
5.13
4
331.89
5.38
5
348.48
5.65
6
365.90
5.93
7
384.20
6.23
8
403.41
6.54
9
423.58
6.87
10
444.76
7.21
11
467.00
7.57
12
490.35
7.95
13
514.86
8.35
14
540.61
8.77
15
567.64
9.20
16
596.02
9.66
17
625.82
10.15
18
657.11
10.66
19
689.97
11.19
20
724.47
11.75
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
21.13
36.03
190.83
3.85
2
49.97
35.01
46.93
25.79
36.03
193.72
3.14
3
52.83
35.01
42.46
26.86
36.03
193.19
3.13
4
55.85
35.01
37.99
28.00
36.03
192.87
3.13
5
59.04
35.01
33.52
29.20
36.03
192.79
3.13
6
62.42
35.01
29.05
30.46
36.03
192.96
3.13
7
65.99
35.01
24.58
31.79
36.03
193.40
3.14
8
69.76
35.01
20.11
33.20
36.03
194.11
3.15
9
73.75
35.01
15.64
34.68
36.03
195.11
3.16
10
77.97
35.01
11.17
36.25
36.03
196.43
3.19
11
82.43
35.01
6.70
38.06
43.23
205.43
3.33
12
87.15
35.01
2.23
39.80
43.23
207.42
3.36
13
92.13
15.04
-2.23
41.18
43.23
189.35
3.07
14
97.40
15.04
0.00
43.26
43.23
198.93
3.23
15
102.97
15.04
0.00
45.39
43.23
206.64
3.35
16
108.87
15.04
0.00
47.64
43.23
214.77
3.48
17
115.09
15.04
0.00
50.00
43.23
223.36
3.62
18
121.68
15.04
0.00
52.47
43.23
232.42
3.77
19
128.64
15.04
0.00
55.08
43.23
241.99
3.92
20
135.99
15.04
0.00
57.82
43.23
252.08
4.09
Levellised
6.56
1.16
0.52
0.44
0.54
0.63
9.86
1
4.70
0.95
0.71
1.04
0.43
0.73
8.55
2
4.88
0.81
0.57
0.76
0.42
0.58
8.02
3
5.13
0.86
0.57
0.69
0.44
0.58
8.26
4
5.38
0.91
0.57
0.62
0.45
0.58
8.51
5
5.65
0.96
0.57
0.54
0.47
0.58
8.78
6
5.93
1.01
0.57
0.47
0.49
0.58
9.06
7
6.23
1.07
0.57
0.40
0.52
0.58
9.37
8
6.54
1.13
0.57
0.33
0.54
0.58
9.69
9
6.87
1.20
0.57
0.25
0.56
0.58
10.03
10
7.21
1.26
0.57
0.18
0.59
0.58
10.40
11
7.57
1.34
0.57
0.11
0.62
0.70
10.90
12
7.95
1.41
0.57
0.04
0.65
0.70
11.31
13
8.35
1.49
0.24
-0.04
0.67
0.70
11.42
14
8.77
1.58
0.24
0.00
0.70
0.70
11.99
15
9.20
1.67
0.24
0.00
0.74
0.70
12.56
16
9.66
1.77
0.24
0.00
0.77
0.70
13.15
17
10.15
1.87
0.24
0.00
0.81
0.70
13.77
18
10.66
1.97
0.24
0.00
0.85
0.70
14.42
19
11.19
2.09
0.24
0.00
0.89
0.70
15.11
20
11.75
2.21
0.24
0.00
0.94
0.70
15.83
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.70 Rs/Kwh
3.30 Rs/Kwh
8.00 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
157
Annexure 3.6 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3268.62
3174
5.00%
47.26
5.72%
40.00
158
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
238.24
4.81
2
307.88
4.99
3
323.28
5.24
4
339.44
5.50
5
356.41
5.78
6
374.24
6.07
7
392.95
6.37
8
412.59
6.69
9
433.22
7.02
10
454.89
7.38
11
477.63
7.74
12
501.51
8.13
13
526.59
8.54
14
552.92
8.97
15
580.56
9.41
16
609.59
9.88
17
640.07
10.38
18
672.07
10.90
19
705.68
11.44
20
740.96
12.01
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
21.49
36.03
191.19
3.86
2
49.97
35.01
46.93
26.25
36.03
194.19
3.15
3
52.83
35.01
42.46
27.35
36.03
193.67
3.14
4
55.85
35.01
37.99
28.51
36.03
193.38
3.14
5
59.04
35.01
33.52
29.73
36.03
193.33
3.13
6
62.42
35.01
29.05
31.02
36.03
193.53
3.14
7
65.99
35.01
24.58
32.39
36.03
193.99
3.15
8
69.76
35.01
20.11
33.82
36.03
194.73
3.16
9
73.75
35.01
15.64
35.34
36.03
195.77
3.17
10
77.97
35.01
11.17
36.93
36.03
197.11
3.20
11
82.43
35.01
6.70
38.78
43.23
206.15
3.34
12
87.15
35.01
2.23
40.55
43.23
208.17
3.38
13
92.13
15.04
-2.23
41.97
43.23
190.14
3.08
14
97.40
15.04
0.00
44.09
43.23
199.77
3.24
15
102.97
15.04
0.00
46.27
43.23
207.52
3.36
16
108.87
15.04
0.00
48.56
43.23
215.70
3.50
17
115.09
15.04
0.00
50.96
43.23
224.33
3.64
18
121.68
15.04
0.00
53.49
43.23
233.44
3.79
19
128.64
15.04
0.00
56.14
43.23
243.05
3.94
20
135.99
15.04
0.00
58.94
43.23
253.20
4.11
Levellised
6.71
1.16
0.52
0.44
0.55
0.63
10.02
1
4.81
0.95
0.71
1.04
0.43
0.73
8.67
2
4.99
0.81
0.57
0.76
0.43
0.58
8.14
3
5.24
0.86
0.57
0.69
0.44
0.58
8.38
4
5.50
0.91
0.57
0.62
0.46
0.58
8.64
5
5.78
0.96
0.57
0.54
0.48
0.58
8.91
6
6.07
1.01
0.57
0.47
0.50
0.58
9.21
7
6.37
1.07
0.57
0.40
0.53
0.58
9.52
8
6.69
1.13
0.57
0.33
0.55
0.58
9.85
9
7.02
1.20
0.57
0.25
0.57
0.58
10.20
10
7.38
1.26
0.57
0.18
0.60
0.58
10.57
11
7.74
1.34
0.57
0.11
0.63
0.70
11.09
12
8.13
1.41
0.57
0.04
0.66
0.70
11.51
13
8.54
1.49
0.24
-0.04
0.68
0.70
11.62
14
8.97
1.58
0.24
0.00
0.71
0.70
12.20
15
9.41
1.67
0.24
0.00
0.75
0.70
12.78
16
9.88
1.77
0.24
0.00
0.79
0.70
13.38
17
10.38
1.87
0.24
0.00
0.83
0.70
14.02
18
10.90
1.97
0.24
0.00
0.87
0.70
14.68
19
11.44
2.09
0.24
0.00
0.91
0.70
15.38
20
12.01
2.21
0.24
0.00
0.96
0.70
16.12
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.81 Rs/Kwh
3.31 Rs/Kwh
8.12 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
159
Annexure 3.6 D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3342.60
3174
5.00%
47.26
5.72%
40.00
160
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
243.64
4.92
2
314.85
5.11
3
330.60
5.36
4
347.13
5.63
5
364.48
5.91
6
382.71
6.21
7
401.84
6.52
8
421.93
6.84
9
443.03
7.18
10
465.18
7.54
11
488.44
7.92
12
512.86
8.32
13
538.51
8.73
14
565.43
9.17
15
593.70
9.63
16
623.39
10.11
17
654.56
10.61
18
687.28
11.14
19
721.65
11.70
20
757.73
12.29
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
21.85
36.03
191.55
3.87
2
49.97
35.01
46.93
26.73
36.03
194.66
3.16
3
52.83
35.01
42.46
27.85
36.03
194.17
3.15
4
55.85
35.01
37.99
29.03
36.03
193.90
3.14
5
59.04
35.01
33.52
30.28
36.03
193.88
3.14
6
62.42
35.01
29.05
31.60
36.03
194.10
3.15
7
65.99
35.01
24.58
32.99
36.03
194.59
3.16
8
69.76
35.01
20.11
34.45
36.03
195.37
3.17
9
73.75
35.01
15.64
36.00
36.03
196.43
3.19
10
77.97
35.01
11.17
37.63
36.03
197.81
3.21
11
82.43
35.01
6.70
39.51
43.23
206.89
3.35
12
87.15
35.01
2.23
41.32
43.23
208.94
3.39
13
92.13
15.04
-2.23
42.78
43.23
190.95
3.10
14
97.40
15.04
0.00
44.94
43.23
200.62
3.25
15
102.97
15.04
0.00
47.16
43.23
208.41
3.38
16
108.87
15.04
0.00
49.49
43.23
216.63
3.51
17
115.09
15.04
0.00
51.94
43.23
225.31
3.65
18
121.68
15.04
0.00
54.52
43.23
234.47
3.80
19
128.64
15.04
0.00
57.23
43.23
244.14
3.96
20
135.99
15.04
0.00
60.07
43.23
254.34
4.12
Levellised
6.86
1.16
0.52
0.44
0.56
0.63
10.18
1
4.92
0.95
0.71
1.04
0.44
0.73
8.78
2
5.11
0.81
0.57
0.76
0.43
0.58
8.26
3
5.36
0.86
0.57
0.69
0.45
0.58
8.51
4
5.63
0.91
0.57
0.62
0.47
0.58
8.77
5
5.91
0.96
0.57
0.54
0.49
0.58
9.05
6
6.21
1.01
0.57
0.47
0.51
0.58
9.35
7
6.52
1.07
0.57
0.40
0.53
0.58
9.67
8
6.84
1.13
0.57
0.33
0.56
0.58
10.01
9
7.18
1.20
0.57
0.25
0.58
0.58
10.37
10
7.54
1.26
0.57
0.18
0.61
0.58
10.75
11
7.92
1.34
0.57
0.11
0.64
0.70
11.27
12
8.32
1.41
0.57
0.04
0.67
0.70
11.70
13
8.73
1.49
0.24
-0.04
0.69
0.70
11.83
14
9.17
1.58
0.24
0.00
0.73
0.70
12.42
15
9.63
1.67
0.24
0.00
0.76
0.70
13.01
16
10.11
1.77
0.24
0.00
0.80
0.70
13.62
17
10.61
1.87
0.24
0.00
0.84
0.70
14.27
18
11.14
1.97
0.24
0.00
0.88
0.70
14.95
19
11.70
2.09
0.24
0.00
0.93
0.70
15.66
20
12.29
2.21
0.24
0.00
0.97
0.70
16.41
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.92 Rs/Kwh
3.32 Rs/Kwh
8.24 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
161
Annexure 3.6 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2789.54
3174
5.00%
47.26
5.72%
40.00
162
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
203.32
4.10
2
262.76
4.26
3
275.90
4.47
4
289.69
4.70
5
304.18
4.93
6
319.38
5.18
7
335.35
5.44
8
352.12
5.71
9
369.73
6.00
10
388.21
6.29
11
407.62
6.61
12
428.01
6.94
13
449.41
7.29
14
471.88
7.65
15
495.47
8.03
16
520.24
8.44
17
546.26
8.86
18
573.57
9.30
19
602.25
9.77
20
632.36
10.25
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.12
36.03
188.82
3.81
2
49.97
35.01
46.93
23.19
36.03
191.13
3.10
3
52.83
35.01
42.46
24.14
36.03
190.46
3.09
4
55.85
35.01
37.99
25.14
36.03
190.01
3.08
5
59.04
35.01
33.52
26.19
36.03
189.79
3.08
6
62.42
35.01
29.05
27.30
36.03
189.81
3.08
7
65.99
35.01
24.58
28.48
36.03
190.09
3.08
8
69.76
35.01
20.11
29.72
36.03
190.63
3.09
9
73.75
35.01
15.64
31.03
36.03
191.46
3.10
10
77.97
35.01
11.17
32.41
36.03
192.59
3.12
11
82.43
35.01
6.70
34.03
43.23
201.41
3.27
12
87.15
35.01
2.23
35.57
43.23
203.19
3.29
13
92.13
15.04
-2.23
36.74
43.23
184.91
3.00
14
97.40
15.04
0.00
38.60
43.23
194.27
3.15
15
102.97
15.04
0.00
40.50
43.23
201.75
3.27
16
108.87
15.04
0.00
42.50
43.23
209.64
3.40
17
115.09
15.04
0.00
44.60
43.23
217.97
3.53
18
121.68
15.04
0.00
46.81
43.23
226.76
3.68
19
128.64
15.04
0.00
49.13
43.23
236.04
3.83
20
135.99
15.04
0.00
51.57
43.23
245.84
3.99
Levellised
5.73
1.16
0.52
0.44
0.49
0.63
8.97
1
4.10
0.95
0.71
1.04
0.39
0.73
7.92
2
4.26
0.81
0.57
0.76
0.38
0.58
7.36
3
4.47
0.86
0.57
0.69
0.39
0.58
7.56
4
4.70
0.91
0.57
0.62
0.41
0.58
7.78
5
4.93
0.96
0.57
0.54
0.42
0.58
8.01
6
5.18
1.01
0.57
0.47
0.44
0.58
8.26
7
5.44
1.07
0.57
0.40
0.46
0.58
8.52
8
5.71
1.13
0.57
0.33
0.48
0.58
8.80
9
6.00
1.20
0.57
0.25
0.50
0.58
9.10
10
6.29
1.26
0.57
0.18
0.53
0.58
9.42
11
6.61
1.34
0.57
0.11
0.55
0.70
9.88
12
6.94
1.41
0.57
0.04
0.58
0.70
10.23
13
7.29
1.49
0.24
-0.04
0.60
0.70
10.29
14
7.65
1.58
0.24
0.00
0.63
0.70
10.80
15
8.03
1.67
0.24
0.00
0.66
0.70
11.31
16
8.44
1.77
0.24
0.00
0.69
0.70
11.84
17
8.86
1.87
0.24
0.00
0.72
0.70
12.39
18
9.30
1.97
0.24
0.00
0.76
0.70
12.98
19
9.77
2.09
0.24
0.00
0.80
0.70
13.59
20
10.25
2.21
0.24
0.00
0.84
0.70
14.24
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.10 Rs/Kwh
3.24 Rs/Kwh
7.35 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
163
Annexure 3.6 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2761.64
3174
5.00%
47.26
5.72%
40.00
164
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
201.29
4.06
2
260.13
4.22
3
273.14
4.43
4
286.79
4.65
5
301.13
4.88
6
316.19
5.13
7
332.00
5.38
8
348.60
5.65
9
366.03
5.94
10
384.33
6.23
11
403.55
6.54
12
423.72
6.87
13
444.91
7.21
14
467.16
7.58
15
490.51
7.95
16
515.04
8.35
17
540.79
8.77
18
567.83
9.21
19
596.22
9.67
20
626.03
10.15
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
18.98
36.03
188.68
3.81
2
49.97
35.01
46.93
23.02
36.03
190.95
3.10
3
52.83
35.01
42.46
23.95
36.03
190.27
3.09
4
55.85
35.01
37.99
24.94
36.03
189.81
3.08
5
59.04
35.01
33.52
25.98
36.03
189.58
3.07
6
62.42
35.01
29.05
27.09
36.03
189.59
3.07
7
65.99
35.01
24.58
28.25
36.03
189.86
3.08
8
69.76
35.01
20.11
29.48
36.03
190.39
3.09
9
73.75
35.01
15.64
30.78
36.03
191.21
3.10
10
77.97
35.01
11.17
32.15
36.03
192.33
3.12
11
82.43
35.01
6.70
33.75
43.23
201.13
3.26
12
87.15
35.01
2.23
35.28
43.23
202.90
3.29
13
92.13
15.04
-2.23
36.43
43.23
184.60
2.99
14
97.40
15.04
0.00
38.28
43.23
193.95
3.15
15
102.97
15.04
0.00
40.16
43.23
201.41
3.27
16
108.87
15.04
0.00
42.15
43.23
209.28
3.39
17
115.09
15.04
0.00
44.23
43.23
217.60
3.53
18
121.68
15.04
0.00
46.42
43.23
226.37
3.67
19
128.64
15.04
0.00
48.72
43.23
235.63
3.82
20
135.99
15.04
0.00
51.14
43.23
245.41
3.98
Levellised
5.67
1.16
0.52
0.44
0.48
0.63
8.91
1
4.06
0.95
0.71
1.04
0.38
0.73
7.87
2
4.22
0.81
0.57
0.76
0.37
0.58
7.31
3
4.43
0.86
0.57
0.69
0.39
0.58
7.51
4
4.65
0.91
0.57
0.62
0.40
0.58
7.73
5
4.88
0.96
0.57
0.54
0.42
0.58
7.96
6
5.13
1.01
0.57
0.47
0.44
0.58
8.20
7
5.38
1.07
0.57
0.40
0.46
0.58
8.46
8
5.65
1.13
0.57
0.33
0.48
0.58
8.74
9
5.94
1.20
0.57
0.25
0.50
0.58
9.04
10
6.23
1.26
0.57
0.18
0.52
0.58
9.35
11
6.54
1.34
0.57
0.11
0.55
0.70
9.80
12
6.87
1.41
0.57
0.04
0.57
0.70
10.16
13
7.21
1.49
0.24
-0.04
0.59
0.70
10.21
14
7.58
1.58
0.24
0.00
0.62
0.70
10.72
15
7.95
1.67
0.24
0.00
0.65
0.70
11.22
16
8.35
1.77
0.24
0.00
0.68
0.70
11.75
17
8.77
1.87
0.24
0.00
0.72
0.70
12.30
18
9.21
1.97
0.24
0.00
0.75
0.70
12.88
19
9.67
2.09
0.24
0.00
0.79
0.70
13.49
20
10.15
2.21
0.24
0.00
0.83
0.70
14.13
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.06 Rs/Kwh
3.24 Rs/Kwh
7.30 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
165
Annexure 3.6 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2856.25
3174
5.00%
47.26
5.72%
40.00
166
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
208.19
4.20
2
269.04
4.36
3
282.49
4.58
4
296.62
4.81
5
311.45
5.05
6
327.02
5.30
7
343.37
5.57
8
360.54
5.85
9
378.57
6.14
10
397.50
6.45
11
417.37
6.77
12
438.24
7.11
13
460.15
7.46
14
483.16
7.83
15
507.32
8.23
16
532.68
8.64
17
559.32
9.07
18
587.28
9.52
19
616.65
10.00
20
647.48
10.50
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
19.45
36.03
189.15
3.82
2
49.97
35.01
46.93
23.62
36.03
191.55
3.11
3
52.83
35.01
42.46
24.59
36.03
190.91
3.10
4
55.85
35.01
37.99
25.61
36.03
190.48
3.09
5
59.04
35.01
33.52
26.68
36.03
190.28
3.09
6
62.42
35.01
29.05
27.82
36.03
190.33
3.09
7
65.99
35.01
24.58
29.02
36.03
190.63
3.09
8
69.76
35.01
20.11
30.29
36.03
191.20
3.10
9
73.75
35.01
15.64
31.63
36.03
192.06
3.11
10
77.97
35.01
11.17
33.04
36.03
193.22
3.13
11
82.43
35.01
6.70
34.69
43.23
202.07
3.28
12
87.15
35.01
2.23
36.26
43.23
203.88
3.31
13
92.13
15.04
-2.23
37.47
43.23
185.64
3.01
14
97.40
15.04
0.00
39.36
43.23
195.04
3.16
15
102.97
15.04
0.00
41.30
43.23
202.55
3.28
16
108.87
15.04
0.00
43.34
43.23
210.48
3.41
17
115.09
15.04
0.00
45.49
43.23
218.85
3.55
18
121.68
15.04
0.00
47.74
43.23
227.69
3.69
19
128.64
15.04
0.00
50.11
43.23
237.02
3.84
20
135.99
15.04
0.00
52.60
43.23
246.86
4.00
Levellised
5.86
1.16
0.52
0.44
0.50
0.63
9.12
1
4.20
0.95
0.71
1.04
0.39
0.73
8.02
2
4.36
0.81
0.57
0.76
0.38
0.58
7.47
3
4.58
0.86
0.57
0.69
0.40
0.58
7.68
4
4.81
0.91
0.57
0.62
0.42
0.58
7.90
5
5.05
0.96
0.57
0.54
0.43
0.58
8.14
6
5.30
1.01
0.57
0.47
0.45
0.58
8.39
7
5.57
1.07
0.57
0.40
0.47
0.58
8.66
8
5.85
1.13
0.57
0.33
0.49
0.58
8.95
9
6.14
1.20
0.57
0.25
0.51
0.58
9.25
10
6.45
1.26
0.57
0.18
0.54
0.58
9.58
11
6.77
1.34
0.57
0.11
0.56
0.70
10.04
12
7.11
1.41
0.57
0.04
0.59
0.70
10.41
13
7.46
1.49
0.24
-0.04
0.61
0.70
10.47
14
7.83
1.58
0.24
0.00
0.64
0.70
11.00
15
8.23
1.67
0.24
0.00
0.67
0.70
11.51
16
8.64
1.77
0.24
0.00
0.70
0.70
12.05
17
9.07
1.87
0.24
0.00
0.74
0.70
12.62
18
9.52
1.97
0.24
0.00
0.77
0.70
13.21
19
10.00
2.09
0.24
0.00
0.81
0.70
13.84
20
10.50
2.21
0.24
0.00
0.85
0.70
14.50
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.20 Rs/Kwh
3.25 Rs/Kwh
7.46 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
167
Annexure 3.6 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
600.44
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
420.310
180.133
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
420.310
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
180.133
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
%
O&M Expenses (2013-14)
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3003.01
3174
5.00%
47.26
5.72%
40.00
168
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
218.88
4.42
2
282.87
4.59
3
297.01
4.82
4
311.86
5.06
5
327.45
5.31
6
343.83
5.58
7
361.02
5.85
8
379.07
6.15
9
398.02
6.45
10
417.92
6.78
11
438.82
7.12
12
460.76
7.47
13
483.80
7.84
14
507.99
8.24
15
533.39
8.65
16
560.05
9.08
17
588.06
9.54
18
617.46
10.01
19
648.33
10.51
20
680.75
11.04
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.01
51.40
20.17
36.03
189.87
3.83
2
49.97
35.01
46.93
24.56
36.03
192.49
3.12
3
52.83
35.01
42.46
25.57
36.03
191.89
3.11
4
55.85
35.01
37.99
26.64
36.03
191.51
3.11
5
59.04
35.01
33.52
27.77
36.03
191.37
3.10
6
62.42
35.01
29.05
28.96
36.03
191.47
3.10
7
65.99
35.01
24.58
30.22
36.03
191.83
3.11
8
69.76
35.01
20.11
31.55
36.03
192.46
3.12
9
73.75
35.01
15.64
32.95
36.03
193.38
3.14
10
77.97
35.01
11.17
34.43
36.03
194.61
3.16
11
82.43
35.01
6.70
36.15
43.23
203.52
3.30
12
87.15
35.01
2.23
37.79
43.23
205.41
3.33
13
92.13
15.04
-2.23
39.07
43.23
187.24
3.04
14
97.40
15.04
0.00
41.05
43.23
196.72
3.19
15
102.97
15.04
0.00
43.07
43.23
204.32
3.31
16
108.87
15.04
0.00
45.20
43.23
212.34
3.44
17
115.09
15.04
0.00
47.43
43.23
220.80
3.58
18
121.68
15.04
0.00
49.79
43.23
229.73
3.73
19
128.64
15.04
0.00
52.26
43.23
239.16
3.88
20
135.99
15.04
0.00
54.85
43.23
249.12
4.04
Levellised
6.16
1.16
0.52
0.44
0.52
0.63
9.44
1
4.42
0.95
0.71
1.04
0.41
0.73
8.25
2
4.59
0.81
0.57
0.76
0.40
0.58
7.71
3
4.82
0.86
0.57
0.69
0.41
0.58
7.93
4
5.06
0.91
0.57
0.62
0.43
0.58
8.16
5
5.31
0.96
0.57
0.54
0.45
0.58
8.41
6
5.58
1.01
0.57
0.47
0.47
0.58
8.68
7
5.85
1.07
0.57
0.40
0.49
0.58
8.96
8
6.15
1.13
0.57
0.33
0.51
0.58
9.27
9
6.45
1.20
0.57
0.25
0.53
0.58
9.59
10
6.78
1.26
0.57
0.18
0.56
0.58
9.93
11
7.12
1.34
0.57
0.11
0.59
0.70
10.42
12
7.47
1.41
0.57
0.04
0.61
0.70
10.80
13
7.84
1.49
0.24
-0.04
0.63
0.70
10.88
14
8.24
1.58
0.24
0.00
0.67
0.70
11.43
15
8.65
1.67
0.24
0.00
0.70
0.70
11.96
16
9.08
1.77
0.24
0.00
0.73
0.70
12.52
17
9.54
1.87
0.24
0.00
0.77
0.70
13.12
18
10.01
1.97
0.24
0.00
0.81
0.70
13.74
19
10.51
2.09
0.24
0.00
0.85
0.70
14.39
20
11.04
2.21
0.24
0.00
0.89
0.70
15.08
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.42 Rs/Kwh
3.27 Rs/Kwh
7.69 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
600.443
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.85
2
5.28%
31.70
3
5.28%
31.70
4
5.28%
31.70
5
5.28%
31.70
6
5.28%
31.70
7
5.28%
31.70
8
5.28%
31.70
9
5.28%
31.70
10
5.28%
31.70
11
5.28%
31.70
12
5.28%
31.70
13
5.28%
31.70
14
5.28%
31.70
15
5.28%
31.70
16
5.28%
31.70
17
5.28%
31.70
18
2.88%
17.29
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
300.22
50.00%
45.00%
5%
270.20
5.00%
4.00%
1.00%
24.02
1.00%
0.80%
0.20%
4.80
0.20%
0.16%
0.04%
0.96
0.04%
0.03%
0.01%
0.19
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
284.37
96.66
2.48
3.90
238.50
81.06
6.17
1.31
-7.69
-2.61
6.17
-0.04
-26.90
-9.14
6.17
-0.15
-30.74
-10.45
6.17
-0.17
-31.51
-10.71
6.17
-0.17
-31.66
-10.76
6.17
-0.17
-31.70
-10.77
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-31.70
-10.78
6.17
-0.17
-17.29
-5.88
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.20
(Rs/kWh)
169
Annexure 3.7 A
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2807.74
3174
5.00%
47.26
5.72%
40.00
170
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
204.65
4.04
2
264.47
4.19
3
277.70
4.40
4
291.58
4.62
5
306.16
4.85
6
321.47
5.10
7
337.54
5.35
8
354.42
5.62
9
372.14
5.90
10
390.75
6.20
11
410.28
6.50
12
430.80
6.83
13
452.34
7.17
14
474.95
7.53
15
498.70
7.91
16
523.64
8.30
17
549.82
8.72
18
577.31
9.15
19
606.18
9.61
20
636.48
10.09
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.26
36.65
191.07
3.77
2
49.97
35.61
47.74
23.36
36.65
193.32
3.07
3
52.83
35.61
43.20
24.30
36.65
192.58
3.05
4
55.85
35.61
38.65
25.31
36.65
192.06
3.05
5
59.04
35.61
34.10
26.37
36.65
191.77
3.04
6
62.42
35.61
29.56
27.48
36.65
191.72
3.04
7
65.99
35.61
25.01
28.67
36.65
191.92
3.04
8
69.76
35.61
20.46
29.91
36.65
192.39
3.05
9
73.75
35.61
15.91
31.23
36.65
193.15
3.06
10
77.97
35.61
11.37
32.62
36.65
194.21
3.08
11
82.43
35.61
6.82
34.24
43.98
203.09
3.22
12
87.15
35.61
2.27
35.79
43.98
204.80
3.25
13
92.13
15.30
0.00
37.01
43.98
188.42
2.99
14
97.40
15.30
0.00
38.83
43.98
195.51
3.10
15
102.97
15.30
0.00
40.74
43.98
202.99
3.22
16
108.87
15.30
0.00
42.75
43.98
210.89
3.34
17
115.09
15.30
0.00
44.86
43.98
219.23
3.48
18
121.68
15.30
0.00
47.09
43.98
228.04
3.62
19
128.64
15.30
0.00
49.42
43.98
237.33
3.76
20
135.99
15.30
0.00
51.87
43.98
247.15
3.92
Levellised
5.63
1.14
0.52
0.44
0.48
0.63
8.84
1
4.04
0.93
0.70
1.03
0.38
0.72
7.81
2
4.19
0.79
0.56
0.76
0.37
0.58
7.26
3
4.40
0.84
0.56
0.68
0.39
0.58
7.46
4
4.62
0.89
0.56
0.61
0.40
0.58
7.67
5
4.85
0.94
0.56
0.54
0.42
0.58
7.89
6
5.10
0.99
0.56
0.47
0.44
0.58
8.14
7
5.35
1.05
0.56
0.40
0.45
0.58
8.39
8
5.62
1.11
0.56
0.32
0.47
0.58
8.67
9
5.90
1.17
0.56
0.25
0.50
0.58
8.96
10
6.20
1.24
0.56
0.18
0.52
0.58
9.27
11
6.50
1.31
0.56
0.11
0.54
0.70
9.72
12
6.83
1.38
0.56
0.04
0.57
0.70
10.08
13
7.17
1.46
0.24
0.00
0.59
0.70
10.16
14
7.53
1.54
0.24
0.00
0.62
0.70
10.63
15
7.91
1.63
0.24
0.00
0.65
0.70
11.13
16
8.30
1.73
0.24
0.00
0.68
0.70
11.65
17
8.72
1.82
0.24
0.00
0.71
0.70
12.19
18
9.15
1.93
0.24
0.00
0.75
0.70
12.77
19
9.61
2.04
0.24
0.00
0.78
0.70
13.37
20
10.09
2.16
0.24
0.00
0.82
0.70
14.01
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.04 Rs/Kwh
3.20 Rs/Kwh
7.24 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
171
Annexure 3.7 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3195.86
3174
5.00%
47.26
5.72%
40.00
172
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
232.94
4.60
2
301.03
4.77
3
316.08
5.01
4
331.89
5.26
5
348.48
5.53
6
365.90
5.80
7
384.20
6.09
8
403.41
6.40
9
423.58
6.72
10
444.76
7.05
11
467.00
7.40
12
490.35
7.77
13
514.86
8.16
14
540.61
8.57
15
567.64
9.00
16
596.02
9.45
17
625.82
9.92
18
657.11
10.42
19
689.97
10.94
20
724.47
11.49
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
21.17
36.65
192.98
3.81
2
49.97
35.61
47.74
25.83
36.65
195.80
3.10
3
52.83
35.61
43.20
26.91
36.65
195.19
3.09
4
55.85
35.61
38.65
28.04
36.65
194.79
3.09
5
59.04
35.61
34.10
29.24
36.65
194.64
3.09
6
62.42
35.61
29.56
30.50
36.65
194.73
3.09
7
65.99
35.61
25.01
31.83
36.65
195.08
3.09
8
69.76
35.61
20.46
33.23
36.65
195.72
3.10
9
73.75
35.61
15.91
34.72
36.65
196.64
3.12
10
77.97
35.61
11.37
36.28
36.65
197.88
3.14
11
82.43
35.61
6.82
38.09
43.98
206.93
3.28
12
87.15
35.61
2.27
39.83
43.98
208.84
3.31
13
92.13
15.30
0.00
41.25
43.98
192.66
3.05
14
97.40
15.30
0.00
43.28
43.98
199.96
3.17
15
102.97
15.30
0.00
45.42
43.98
207.67
3.29
16
108.87
15.30
0.00
47.66
43.98
215.80
3.42
17
115.09
15.30
0.00
50.02
43.98
224.39
3.56
18
121.68
15.30
0.00
52.50
43.98
233.45
3.70
19
128.64
15.30
0.00
55.10
43.98
243.02
3.85
20
135.99
15.30
0.00
57.84
43.98
253.11
4.01
Levellised
6.41
1.14
0.52
0.44
0.53
0.63
9.67
1
4.60
0.93
0.70
1.03
0.42
0.72
8.40
2
4.77
0.79
0.56
0.76
0.41
0.58
7.88
3
5.01
0.84
0.56
0.68
0.43
0.58
8.11
4
5.26
0.89
0.56
0.61
0.44
0.58
8.35
5
5.53
0.94
0.56
0.54
0.46
0.58
8.61
6
5.80
0.99
0.56
0.47
0.48
0.58
8.89
7
6.09
1.05
0.56
0.40
0.50
0.58
9.18
8
6.40
1.11
0.56
0.32
0.53
0.58
9.50
9
6.72
1.17
0.56
0.25
0.55
0.58
9.83
10
7.05
1.24
0.56
0.18
0.58
0.58
10.19
11
7.40
1.31
0.56
0.11
0.60
0.70
10.69
12
7.77
1.38
0.56
0.04
0.63
0.70
11.09
13
8.16
1.46
0.24
0.00
0.65
0.70
11.22
14
8.57
1.54
0.24
0.00
0.69
0.70
11.74
15
9.00
1.63
0.24
0.00
0.72
0.70
12.29
16
9.45
1.73
0.24
0.00
0.76
0.70
12.87
17
9.92
1.82
0.24
0.00
0.79
0.70
13.48
18
10.42
1.93
0.24
0.00
0.83
0.70
14.12
19
10.94
2.04
0.24
0.00
0.87
0.70
14.79
20
11.49
2.16
0.24
0.00
0.92
0.70
15.50
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.60 Rs/Kwh
3.26 Rs/Kwh
7.85 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
173
Annexure 3.7 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3268.62
3174
5.00%
47.26
5.72%
40.00
174
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
238.24
4.70
2
307.88
4.88
3
323.28
5.13
4
339.44
5.38
5
356.41
5.65
6
374.24
5.93
7
392.95
6.23
8
412.59
6.54
9
433.22
6.87
10
454.89
7.21
11
477.63
7.57
12
501.51
7.95
13
526.59
8.35
14
552.92
8.77
15
580.56
9.20
16
609.59
9.66
17
640.07
10.15
18
672.07
10.66
19
705.68
11.19
20
740.96
11.75
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
21.53
36.65
193.34
3.82
2
49.97
35.61
47.74
26.30
36.65
196.27
3.11
3
52.83
35.61
43.20
27.40
36.65
195.67
3.10
4
55.85
35.61
38.65
28.55
36.65
195.31
3.10
5
59.04
35.61
34.10
29.77
36.65
195.18
3.09
6
62.42
35.61
29.56
31.06
36.65
195.29
3.10
7
65.99
35.61
25.01
32.42
36.65
195.68
3.10
8
69.76
35.61
20.46
33.86
36.65
196.34
3.11
9
73.75
35.61
15.91
35.37
36.65
197.30
3.13
10
77.97
35.61
11.37
36.96
36.65
198.56
3.15
11
82.43
35.61
6.82
38.81
43.98
207.65
3.29
12
87.15
35.61
2.27
40.58
43.98
209.59
3.32
13
92.13
15.30
0.00
42.04
43.98
193.46
3.07
14
97.40
15.30
0.00
44.12
43.98
200.80
3.18
15
102.97
15.30
0.00
46.29
43.98
208.54
3.31
16
108.87
15.30
0.00
48.58
43.98
216.72
3.44
17
115.09
15.30
0.00
50.98
43.98
225.35
3.57
18
121.68
15.30
0.00
53.51
43.98
234.46
3.72
19
128.64
15.30
0.00
56.17
43.98
244.08
3.87
20
135.99
15.30
0.00
58.96
43.98
254.23
4.03
Levellised
6.56
1.14
0.52
0.44
0.54
0.63
9.83
1
4.70
0.93
0.70
1.03
0.42
0.72
8.52
2
4.88
0.79
0.56
0.76
0.42
0.58
7.99
3
5.13
0.84
0.56
0.68
0.43
0.58
8.23
4
5.38
0.89
0.56
0.61
0.45
0.58
8.48
5
5.65
0.94
0.56
0.54
0.47
0.58
8.75
6
5.93
0.99
0.56
0.47
0.49
0.58
9.03
7
6.23
1.05
0.56
0.40
0.51
0.58
9.33
8
6.54
1.11
0.56
0.32
0.54
0.58
9.65
9
6.87
1.17
0.56
0.25
0.56
0.58
10.00
10
7.21
1.24
0.56
0.18
0.59
0.58
10.36
11
7.57
1.31
0.56
0.11
0.62
0.70
10.87
12
7.95
1.38
0.56
0.04
0.64
0.70
11.27
13
8.35
1.46
0.24
0.00
0.67
0.70
11.42
14
8.77
1.54
0.24
0.00
0.70
0.70
11.95
15
9.20
1.63
0.24
0.00
0.73
0.70
12.51
16
9.66
1.73
0.24
0.00
0.77
0.70
13.10
17
10.15
1.82
0.24
0.00
0.81
0.70
13.72
18
10.66
1.93
0.24
0.00
0.85
0.70
14.37
19
11.19
2.04
0.24
0.00
0.89
0.70
15.06
20
11.75
2.16
0.24
0.00
0.93
0.70
15.78
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.70 Rs/Kwh
3.27 Rs/Kwh
7.97 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
175
Annexure 3.7 D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3342.60
3174
5.00%
47.26
5.72%
40.00
176
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
243.64
4.81
2
314.85
4.99
3
330.60
5.24
4
347.13
5.50
5
364.48
5.78
6
382.71
6.07
7
401.84
6.37
8
421.93
6.69
9
443.03
7.02
10
465.18
7.38
11
488.44
7.74
12
512.86
8.13
13
538.51
8.54
14
565.43
8.96
15
593.70
9.41
16
623.39
9.88
17
654.56
10.38
18
687.28
10.90
19
721.65
11.44
20
757.73
12.01
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
21.90
36.65
193.71
3.82
2
49.97
35.61
47.74
26.77
36.65
196.74
3.12
3
52.83
35.61
43.20
27.89
36.65
196.17
3.11
4
55.85
35.61
38.65
29.07
36.65
195.83
3.10
5
59.04
35.61
34.10
30.32
36.65
195.72
3.10
6
62.42
35.61
29.56
31.64
36.65
195.87
3.11
7
65.99
35.61
25.01
33.03
36.65
196.28
3.11
8
69.76
35.61
20.46
34.49
36.65
196.97
3.12
9
73.75
35.61
15.91
36.03
36.65
197.96
3.14
10
77.97
35.61
11.37
37.66
36.65
199.26
3.16
11
82.43
35.61
6.82
39.54
43.98
208.38
3.30
12
87.15
35.61
2.27
41.35
43.98
210.36
3.34
13
92.13
15.30
0.00
42.85
43.98
194.26
3.08
14
97.40
15.30
0.00
44.96
43.98
201.64
3.20
15
102.97
15.30
0.00
47.18
43.98
209.44
3.32
16
108.87
15.30
0.00
49.52
43.98
217.66
3.45
17
115.09
15.30
0.00
51.97
43.98
226.34
3.59
18
121.68
15.30
0.00
54.54
43.98
235.50
3.73
19
128.64
15.30
0.00
57.25
43.98
245.16
3.89
20
135.99
15.30
0.00
60.10
43.98
255.37
4.05
Levellised
6.71
1.14
0.52
0.44
0.55
0.63
9.98
1
4.81
0.93
0.70
1.03
0.43
0.72
8.63
2
4.99
0.79
0.56
0.76
0.42
0.58
8.11
3
5.24
0.84
0.56
0.68
0.44
0.58
8.35
4
5.50
0.89
0.56
0.61
0.46
0.58
8.61
5
5.78
0.94
0.56
0.54
0.48
0.58
8.88
6
6.07
0.99
0.56
0.47
0.50
0.58
9.17
7
6.37
1.05
0.56
0.40
0.52
0.58
9.48
8
6.69
1.11
0.56
0.32
0.55
0.58
9.81
9
7.02
1.17
0.56
0.25
0.57
0.58
10.16
10
7.38
1.24
0.56
0.18
0.60
0.58
10.53
11
7.74
1.31
0.56
0.11
0.63
0.70
11.05
12
8.13
1.38
0.56
0.04
0.66
0.70
11.47
13
8.54
1.46
0.24
0.00
0.68
0.70
11.62
14
8.96
1.54
0.24
0.00
0.71
0.70
12.16
15
9.41
1.63
0.24
0.00
0.75
0.70
12.73
16
9.88
1.73
0.24
0.00
0.79
0.70
13.33
17
10.38
1.82
0.24
0.00
0.82
0.70
13.97
18
10.90
1.93
0.24
0.00
0.86
0.70
14.63
19
11.44
2.04
0.24
0.00
0.91
0.70
15.33
20
12.01
2.16
0.24
0.00
0.95
0.70
16.06
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.81 Rs/Kwh
3.28 Rs/Kwh
8.08 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
177
Annexure 3.7 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2789.54
3174
5.00%
47.26
5.72%
40.00
178
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
203.32
4.01
2
262.76
4.17
3
275.90
4.37
4
289.69
4.59
5
304.18
4.82
6
319.38
5.06
7
335.35
5.32
8
352.12
5.58
9
369.73
5.86
10
388.21
6.16
11
407.62
6.46
12
428.01
6.79
13
449.41
7.13
14
471.88
7.48
15
495.47
7.86
16
520.24
8.25
17
546.26
8.66
18
573.57
9.09
19
602.25
9.55
20
632.36
10.03
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.17
36.65
190.98
3.77
2
49.97
35.61
47.74
23.24
36.65
193.21
3.06
3
52.83
35.61
43.20
24.18
36.65
192.46
3.05
4
55.85
35.61
38.65
25.18
36.65
191.93
3.04
5
59.04
35.61
34.10
26.23
36.65
191.63
3.04
6
62.42
35.61
29.56
27.34
36.65
191.57
3.04
7
65.99
35.61
25.01
28.52
36.65
191.77
3.04
8
69.76
35.61
20.46
29.76
36.65
192.24
3.05
9
73.75
35.61
15.91
31.06
36.65
192.99
3.06
10
77.97
35.61
11.37
32.44
36.65
194.04
3.08
11
82.43
35.61
6.82
34.06
43.98
202.90
3.22
12
87.15
35.61
2.27
35.60
43.98
204.61
3.24
13
92.13
15.30
0.00
36.81
43.98
188.22
2.98
14
97.40
15.30
0.00
38.62
43.98
195.30
3.10
15
102.97
15.30
0.00
40.52
43.98
202.77
3.21
16
108.87
15.30
0.00
42.52
43.98
210.66
3.34
17
115.09
15.30
0.00
44.62
43.98
218.99
3.47
18
121.68
15.30
0.00
46.83
43.98
227.79
3.61
19
128.64
15.30
0.00
49.15
43.98
237.07
3.76
20
135.99
15.30
0.00
51.60
43.98
246.87
3.91
Levellised
5.60
1.14
0.52
0.44
0.48
0.63
8.80
1
4.01
0.93
0.70
1.03
0.38
0.72
7.78
2
4.17
0.79
0.56
0.76
0.37
0.58
7.23
3
4.37
0.84
0.56
0.68
0.38
0.58
7.43
4
4.59
0.89
0.56
0.61
0.40
0.58
7.64
5
4.82
0.94
0.56
0.54
0.42
0.58
7.86
6
5.06
0.99
0.56
0.47
0.43
0.58
8.10
7
5.32
1.05
0.56
0.40
0.45
0.58
8.36
8
5.58
1.11
0.56
0.32
0.47
0.58
8.63
9
5.86
1.17
0.56
0.25
0.49
0.58
8.92
10
6.16
1.24
0.56
0.18
0.51
0.58
9.23
11
6.46
1.31
0.56
0.11
0.54
0.70
9.68
12
6.79
1.38
0.56
0.04
0.56
0.70
10.03
13
7.13
1.46
0.24
0.00
0.58
0.70
10.11
14
7.48
1.54
0.24
0.00
0.61
0.70
10.58
15
7.86
1.63
0.24
0.00
0.64
0.70
11.07
16
8.25
1.73
0.24
0.00
0.67
0.70
11.59
17
8.66
1.82
0.24
0.00
0.71
0.70
12.13
18
9.09
1.93
0.24
0.00
0.74
0.70
12.71
19
9.55
2.04
0.24
0.00
0.78
0.70
13.31
20
10.03
2.16
0.24
0.00
0.82
0.70
13.94
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.01 Rs/Kwh
3.20 Rs/Kwh
7.21 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
179
Annexure 3.7 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2761.64
3174
5.00%
47.26
5.72%
40.00
180
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
201.29
3.97
2
260.13
4.12
3
273.14
4.33
4
286.79
4.55
5
301.13
4.77
6
316.19
5.01
7
332.00
5.26
8
348.60
5.53
9
366.03
5.80
10
384.33
6.09
11
403.55
6.40
12
423.72
6.72
13
444.91
7.05
14
467.16
7.41
15
490.51
7.78
16
515.04
8.17
17
540.79
8.57
18
567.83
9.00
19
596.22
9.45
20
626.03
9.93
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.03
36.65
190.84
3.77
2
49.97
35.61
47.74
23.06
36.65
193.03
3.06
3
52.83
35.61
43.20
24.00
36.65
192.27
3.05
4
55.85
35.61
38.65
24.98
36.65
191.74
3.04
5
59.04
35.61
34.10
26.03
36.65
191.43
3.04
6
62.42
35.61
29.56
27.13
36.65
191.36
3.03
7
65.99
35.61
25.01
28.29
36.65
191.54
3.04
8
69.76
35.61
20.46
29.52
36.65
192.00
3.04
9
73.75
35.61
15.91
30.81
36.65
192.74
3.06
10
77.97
35.61
11.37
32.18
36.65
193.78
3.07
11
82.43
35.61
6.82
33.79
43.98
202.63
3.21
12
87.15
35.61
2.27
35.31
43.98
204.32
3.24
13
92.13
15.30
0.00
36.51
43.98
187.92
2.98
14
97.40
15.30
0.00
38.30
43.98
194.98
3.09
15
102.97
15.30
0.00
40.19
43.98
202.44
3.21
16
108.87
15.30
0.00
42.17
43.98
210.31
3.33
17
115.09
15.30
0.00
44.25
43.98
218.62
3.47
18
121.68
15.30
0.00
46.44
43.98
227.40
3.61
19
128.64
15.30
0.00
48.75
43.98
236.66
3.75
20
135.99
15.30
0.00
51.17
43.98
246.44
3.91
Levellised
5.54
1.14
0.52
0.44
0.47
0.63
8.74
1
3.97
0.93
0.70
1.03
0.38
0.72
7.74
2
4.12
0.79
0.56
0.76
0.37
0.58
7.18
3
4.33
0.84
0.56
0.68
0.38
0.58
7.38
4
4.55
0.89
0.56
0.61
0.40
0.58
7.59
5
4.77
0.94
0.56
0.54
0.41
0.58
7.81
6
5.01
0.99
0.56
0.47
0.43
0.58
8.05
7
5.26
1.05
0.56
0.40
0.45
0.58
8.30
8
5.53
1.11
0.56
0.32
0.47
0.58
8.57
9
5.80
1.17
0.56
0.25
0.49
0.58
8.86
10
6.09
1.24
0.56
0.18
0.51
0.58
9.17
11
6.40
1.31
0.56
0.11
0.54
0.70
9.61
12
6.72
1.38
0.56
0.04
0.56
0.70
9.96
13
7.05
1.46
0.24
0.00
0.58
0.70
10.03
14
7.41
1.54
0.24
0.00
0.61
0.70
10.50
15
7.78
1.63
0.24
0.00
0.64
0.70
10.99
16
8.17
1.73
0.24
0.00
0.67
0.70
11.50
17
8.57
1.82
0.24
0.00
0.70
0.70
12.04
18
9.00
1.93
0.24
0.00
0.74
0.70
12.61
19
9.45
2.04
0.24
0.00
0.77
0.70
13.21
20
9.93
2.16
0.24
0.00
0.81
0.70
13.83
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
3.97 Rs/Kwh
3.20 Rs/Kwh
7.17 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
181
Annexure 3.7 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2856.25
3174
5.00%
47.26
5.72%
40.00
182
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
208.19
4.11
2
269.04
4.27
3
282.49
4.48
4
296.62
4.70
5
311.45
4.94
6
327.02
5.18
7
343.37
5.44
8
360.54
5.72
9
378.57
6.00
10
397.50
6.30
11
417.37
6.62
12
438.24
6.95
13
460.15
7.30
14
483.16
7.66
15
507.32
8.04
16
532.68
8.45
17
559.32
8.87
18
587.28
9.31
19
616.65
9.78
20
647.48
10.27
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
19.50
36.65
191.31
3.78
2
49.97
35.61
47.74
23.67
36.65
193.63
3.07
3
52.83
35.61
43.20
24.63
36.65
192.91
3.06
4
55.85
35.61
38.65
25.65
36.65
192.40
3.05
5
59.04
35.61
34.10
26.73
36.65
192.13
3.05
6
62.42
35.61
29.56
27.86
36.65
192.09
3.05
7
65.99
35.61
25.01
29.06
36.65
192.32
3.05
8
69.76
35.61
20.46
30.33
36.65
192.81
3.06
9
73.75
35.61
15.91
31.66
36.65
193.59
3.07
10
77.97
35.61
11.37
33.07
36.65
194.67
3.09
11
82.43
35.61
6.82
34.73
43.98
203.57
3.23
12
87.15
35.61
2.27
36.29
43.98
205.30
3.26
13
92.13
15.30
0.00
37.54
43.98
188.95
3.00
14
97.40
15.30
0.00
39.39
43.98
196.07
3.11
15
102.97
15.30
0.00
41.33
43.98
203.58
3.23
16
108.87
15.30
0.00
43.36
43.98
211.51
3.35
17
115.09
15.30
0.00
45.51
43.98
219.88
3.49
18
121.68
15.30
0.00
47.76
43.98
228.72
3.63
19
128.64
15.30
0.00
50.13
43.98
238.04
3.77
20
135.99
15.30
0.00
52.62
43.98
247.89
3.93
Levellised
5.73
1.14
0.52
0.44
0.49
0.63
8.94
1
4.11
0.93
0.70
1.03
0.38
0.72
7.88
2
4.27
0.79
0.56
0.76
0.38
0.58
7.34
3
4.48
0.84
0.56
0.68
0.39
0.58
7.54
4
4.70
0.89
0.56
0.61
0.41
0.58
7.75
5
4.94
0.94
0.56
0.54
0.42
0.58
7.98
6
5.18
0.99
0.56
0.47
0.44
0.58
8.23
7
5.44
1.05
0.56
0.40
0.46
0.58
8.49
8
5.72
1.11
0.56
0.32
0.48
0.58
8.77
9
6.00
1.17
0.56
0.25
0.50
0.58
9.07
10
6.30
1.24
0.56
0.18
0.52
0.58
9.39
11
6.62
1.31
0.56
0.11
0.55
0.70
9.84
12
6.95
1.38
0.56
0.04
0.58
0.70
10.20
13
7.30
1.46
0.24
0.00
0.60
0.70
10.29
14
7.66
1.54
0.24
0.00
0.62
0.70
10.77
15
8.04
1.63
0.24
0.00
0.66
0.70
11.27
16
8.45
1.73
0.24
0.00
0.69
0.70
11.80
17
8.87
1.82
0.24
0.00
0.72
0.70
12.35
18
9.31
1.93
0.24
0.00
0.76
0.70
12.94
19
9.78
2.04
0.24
0.00
0.79
0.70
13.55
20
10.27
2.16
0.24
0.00
0.83
0.70
14.20
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.11 Rs/Kwh
3.21 Rs/Kwh
7.32 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
183
Annexure 3.7 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
610.80
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
427.557
183.239
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
427.557
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
183.239
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3003.01
3174
5.00%
47.26
5.72%
40.00
184
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
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
218.88
4.32
2
282.87
4.48
3
297.01
4.71
4
311.86
4.94
5
327.45
5.19
6
343.83
5.45
7
361.02
5.72
8
379.07
6.01
9
398.02
6.31
10
417.92
6.63
11
438.82
6.96
12
460.76
7.31
13
483.80
7.67
14
507.99
8.05
15
533.39
8.46
16
560.05
8.88
17
588.06
9.32
18
617.46
9.79
19
648.33
10.28
20
680.75
10.79
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
35.61
52.29
20.22
36.65
192.03
3.79
2
49.97
35.61
47.74
24.60
36.65
194.57
3.08
3
52.83
35.61
43.20
25.61
36.65
193.89
3.07
4
55.85
35.61
38.65
26.68
36.65
193.44
3.07
5
59.04
35.61
34.10
27.81
36.65
193.21
3.06
6
62.42
35.61
29.56
29.00
36.65
193.23
3.06
7
65.99
35.61
25.01
30.26
36.65
193.51
3.07
8
69.76
35.61
20.46
31.58
36.65
194.07
3.08
9
73.75
35.61
15.91
32.98
36.65
194.91
3.09
10
77.97
35.61
11.37
34.46
36.65
196.06
3.11
11
82.43
35.61
6.82
36.18
43.98
205.02
3.25
12
87.15
35.61
2.27
37.82
43.98
206.83
3.28
13
92.13
15.30
0.00
39.14
43.98
190.55
3.02
14
97.40
15.30
0.00
41.07
43.98
197.75
3.14
15
102.97
15.30
0.00
43.09
43.98
205.35
3.26
16
108.87
15.30
0.00
45.22
43.98
213.36
3.38
17
115.09
15.30
0.00
47.46
43.98
221.83
3.52
18
121.68
15.30
0.00
49.81
43.98
230.76
3.66
19
128.64
15.30
0.00
52.28
43.98
240.19
3.81
20
135.99
15.30
0.00
54.88
43.98
250.15
3.97
Levellised
6.03
1.14
0.52
0.44
0.51
0.63
9.26
1
4.32
0.93
0.70
1.03
0.40
0.72
8.11
2
4.48
0.79
0.56
0.76
0.39
0.58
7.57
3
4.71
0.84
0.56
0.68
0.41
0.58
7.78
4
4.94
0.89
0.56
0.61
0.42
0.58
8.01
5
5.19
0.94
0.56
0.54
0.44
0.58
8.26
6
5.45
0.99
0.56
0.47
0.46
0.58
8.51
7
5.72
1.05
0.56
0.40
0.48
0.58
8.79
8
6.01
1.11
0.56
0.32
0.50
0.58
9.09
9
6.31
1.17
0.56
0.25
0.52
0.58
9.40
10
6.63
1.24
0.56
0.18
0.55
0.58
9.73
11
6.96
1.31
0.56
0.11
0.57
0.70
10.21
12
7.31
1.38
0.56
0.04
0.60
0.70
10.58
13
7.67
1.46
0.24
0.00
0.62
0.70
10.69
14
8.05
1.54
0.24
0.00
0.65
0.70
11.19
15
8.46
1.63
0.24
0.00
0.68
0.70
11.71
16
8.88
1.73
0.24
0.00
0.72
0.70
12.26
17
9.32
1.82
0.24
0.00
0.75
0.70
12.84
18
9.79
1.93
0.24
0.00
0.79
0.70
13.45
19
10.28
2.04
0.24
0.00
0.83
0.70
14.09
20
10.79
2.16
0.24
0.00
0.87
0.70
14.76
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.32 Rs/Kwh
3.23 Rs/Kwh
7.55 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
610.795
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
16.12
2
5.28%
32.25
3
5.28%
32.25
4
5.28%
32.25
5
5.28%
32.25
6
5.28%
32.25
7
5.28%
32.25
8
5.28%
32.25
9
5.28%
32.25
10
5.28%
32.25
11
5.28%
32.25
12
5.28%
32.25
13
5.28%
32.25
14
5.28%
32.25
15
5.28%
32.25
16
5.28%
32.25
17
5.28%
32.25
18
2.88%
17.59
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
305.40
50.00%
45.00%
5%
274.86
5.00%
4.00%
1.00%
24.43
1.00%
0.80%
0.20%
4.89
0.20%
0.16%
0.04%
0.98
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
289.27
98.32
2.53
3.88
242.61
82.46
6.31
1.31
-7.82
-2.66
6.31
-0.04
-27.36
-9.30
6.31
-0.15
-31.27
-10.63
6.31
-0.17
-32.05
-10.90
6.31
-0.17
-32.21
-10.95
6.31
-0.17
-32.24
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-32.25
-10.96
6.31
-0.17
-17.59
-5.98
6.31
-0.09
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
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
185
Annexure 3.8 A
Select State
AP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2807.74
3174
5.00%
47.26
5.72%
40.00
186
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
204.65
4.13
2
264.47
4.29
3
277.70
4.50
4
291.58
4.73
5
306.16
4.96
6
321.47
5.21
7
337.54
5.47
8
354.42
5.75
9
372.14
6.03
10
390.75
6.34
11
410.28
6.65
12
430.80
6.99
13
452.34
7.33
14
474.95
7.70
15
498.70
8.09
16
523.64
8.49
17
549.82
8.92
18
577.31
9.36
19
606.18
9.83
20
636.48
10.32
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.45
39.13
199.70
4.03
2
49.97
38.02
50.98
23.54
39.13
201.64
3.27
3
52.83
38.02
46.12
24.48
39.13
200.59
3.25
4
55.85
38.02
41.27
25.48
39.13
199.75
3.24
5
59.04
38.02
36.41
26.53
39.13
199.14
3.23
6
62.42
38.02
31.56
27.64
39.13
198.77
3.22
7
65.99
38.02
26.70
28.81
39.13
198.66
3.22
8
69.76
38.02
21.85
30.05
39.13
198.82
3.22
9
73.75
38.02
16.99
31.36
39.13
199.27
3.23
10
77.97
38.02
12.14
32.74
39.13
200.01
3.24
11
82.43
38.02
7.28
34.38
46.96
209.08
3.39
12
87.15
38.02
2.43
35.91
46.96
210.47
3.41
13
92.13
16.34
0.00
37.10
46.96
192.53
3.12
14
97.40
16.34
0.00
38.92
46.96
199.62
3.24
15
102.97
16.34
0.00
40.83
46.96
207.10
3.36
16
108.87
16.34
0.00
42.84
46.96
215.00
3.49
17
115.09
16.34
0.00
44.96
46.96
223.34
3.62
18
121.68
16.34
0.00
47.18
46.96
232.15
3.76
19
128.64
16.34
0.00
49.51
46.96
241.44
3.92
20
135.99
16.34
0.00
51.97
46.96
251.26
4.07
Levellised
5.76
1.16
0.57
0.48
0.49
0.69
9.15
1
4.13
0.95
0.77
1.13
0.39
0.79
8.16
2
4.29
0.81
0.62
0.83
0.38
0.63
7.56
3
4.50
0.86
0.62
0.75
0.40
0.63
7.76
4
4.73
0.91
0.62
0.67
0.41
0.63
7.97
5
4.96
0.96
0.62
0.59
0.43
0.63
8.19
6
5.21
1.01
0.62
0.51
0.45
0.63
8.44
7
5.47
1.07
0.62
0.43
0.47
0.63
8.69
8
5.75
1.13
0.62
0.35
0.49
0.63
8.97
9
6.03
1.20
0.62
0.28
0.51
0.63
9.27
10
6.34
1.26
0.62
0.20
0.53
0.63
9.58
11
6.65
1.34
0.62
0.12
0.56
0.76
10.04
12
6.99
1.41
0.62
0.04
0.58
0.76
10.40
13
7.33
1.49
0.26
0.00
0.60
0.76
10.46
14
7.70
1.58
0.26
0.00
0.63
0.76
10.94
15
8.09
1.67
0.26
0.00
0.66
0.76
11.44
16
8.49
1.77
0.26
0.00
0.69
0.76
11.98
17
8.92
1.87
0.26
0.00
0.73
0.76
12.54
18
9.36
1.97
0.26
0.00
0.76
0.76
13.13
19
9.83
2.09
0.26
0.00
0.80
0.76
13.74
20
10.32
2.21
0.26
0.00
0.84
0.76
14.39
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.13 Rs/Kwh
3.39 Rs/Kwh
7.52 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
187
Annexure 3.8 B
Select State
Harayana
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3195.86
3174
5.00%
47.26
5.72%
40.00
188
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
232.94
4.70
2
301.03
4.88
3
316.08
5.13
4
331.89
5.38
5
348.48
5.65
6
365.90
5.93
7
384.20
6.23
8
403.41
6.54
9
423.58
6.87
10
444.76
7.21
11
467.00
7.57
12
490.35
7.95
13
514.86
8.35
14
540.61
8.77
15
567.64
9.20
16
596.02
9.66
17
625.82
10.15
18
657.11
10.66
19
689.97
11.19
20
724.47
11.75
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
21.36
39.13
201.62
4.07
2
49.97
38.02
50.98
26.02
39.13
204.12
3.31
3
52.83
38.02
46.12
27.08
39.13
203.19
3.29
4
55.85
38.02
41.27
28.21
39.13
202.48
3.28
5
59.04
38.02
36.41
29.40
39.13
202.01
3.28
6
62.42
38.02
31.56
30.65
39.13
201.79
3.27
7
65.99
38.02
26.70
31.98
39.13
201.83
3.27
8
69.76
38.02
21.85
33.38
39.13
202.14
3.28
9
73.75
38.02
16.99
34.85
39.13
202.75
3.29
10
77.97
38.02
12.14
36.41
39.13
203.67
3.30
11
82.43
38.02
7.28
38.22
46.96
212.92
3.45
12
87.15
38.02
2.43
39.95
46.96
214.51
3.48
13
92.13
16.34
0.00
41.34
46.96
196.77
3.19
14
97.40
16.34
0.00
43.37
46.96
204.07
3.31
15
102.97
16.34
0.00
45.51
46.96
211.78
3.43
16
108.87
16.34
0.00
47.75
46.96
219.91
3.57
17
115.09
16.34
0.00
50.11
46.96
228.50
3.71
18
121.68
16.34
0.00
52.59
46.96
237.56
3.85
19
128.64
16.34
0.00
55.19
46.96
247.13
4.01
20
135.99
16.34
0.00
57.93
46.96
257.22
4.17
Levellised
6.56
1.16
0.57
0.48
0.55
0.69
10.00
1
4.70
0.95
0.77
1.13
0.43
0.79
8.77
2
4.88
0.81
0.62
0.83
0.42
0.63
8.19
3
5.13
0.86
0.62
0.75
0.44
0.63
8.42
4
5.38
0.91
0.62
0.67
0.46
0.63
8.66
5
5.65
0.96
0.62
0.59
0.48
0.63
8.93
6
5.93
1.01
0.62
0.51
0.50
0.63
9.21
7
6.23
1.07
0.62
0.43
0.52
0.63
9.50
8
6.54
1.13
0.62
0.35
0.54
0.63
9.82
9
6.87
1.20
0.62
0.28
0.57
0.63
10.16
10
7.21
1.26
0.62
0.20
0.59
0.63
10.51
11
7.57
1.34
0.62
0.12
0.62
0.76
11.03
12
7.95
1.41
0.62
0.04
0.65
0.76
11.43
13
8.35
1.49
0.26
0.00
0.67
0.76
11.54
14
8.77
1.58
0.26
0.00
0.70
0.76
12.08
15
9.20
1.67
0.26
0.00
0.74
0.76
12.64
16
9.66
1.77
0.26
0.00
0.77
0.76
13.23
17
10.15
1.87
0.26
0.00
0.81
0.76
13.85
18
10.66
1.97
0.26
0.00
0.85
0.76
14.51
19
11.19
2.09
0.26
0.00
0.89
0.76
15.20
20
11.75
2.21
0.26
0.00
0.94
0.76
15.92
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.70 Rs/Kwh
3.44 Rs/Kwh
8.15 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
189
Annexure 3.8 C
Select State
Maharashtra
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3268.62
3174
5.00%
47.26
5.72%
40.00
190
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
238.24
4.81
2
307.88
4.99
3
323.28
5.24
4
339.44
5.50
5
356.41
5.78
6
374.24
6.07
7
392.95
6.37
8
412.59
6.69
9
433.22
7.02
10
454.89
7.38
11
477.63
7.74
12
501.51
8.13
13
526.59
8.54
14
552.92
8.97
15
580.56
9.41
16
609.59
9.88
17
640.07
10.38
18
672.07
10.90
19
705.68
11.44
20
740.96
12.01
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
21.72
39.13
201.98
4.08
2
49.97
38.02
50.98
26.48
39.13
204.59
3.32
3
52.83
38.02
46.12
27.57
39.13
203.68
3.30
4
55.85
38.02
41.27
28.72
39.13
203.00
3.29
5
59.04
38.02
36.41
29.94
39.13
202.55
3.28
6
62.42
38.02
31.56
31.22
39.13
202.35
3.28
7
65.99
38.02
26.70
32.57
39.13
202.42
3.28
8
69.76
38.02
21.85
34.00
39.13
202.77
3.29
9
73.75
38.02
16.99
35.50
39.13
203.41
3.30
10
77.97
38.02
12.14
37.09
39.13
204.36
3.31
11
82.43
38.02
7.28
38.94
46.96
213.64
3.46
12
87.15
38.02
2.43
40.71
46.96
215.27
3.49
13
92.13
16.34
0.00
42.13
46.96
197.56
3.20
14
97.40
16.34
0.00
44.21
46.96
204.91
3.32
15
102.97
16.34
0.00
46.38
46.96
212.65
3.45
16
108.87
16.34
0.00
48.67
46.96
220.83
3.58
17
115.09
16.34
0.00
51.08
46.96
229.46
3.72
18
121.68
16.34
0.00
53.60
46.96
238.57
3.87
19
128.64
16.34
0.00
56.26
46.96
248.19
4.02
20
135.99
16.34
0.00
59.05
46.96
258.34
4.19
Levellised
6.71
1.16
0.57
0.48
0.56
0.69
10.16
1
4.81
0.95
0.77
1.13
0.44
0.79
8.89
2
4.99
0.81
0.62
0.83
0.43
0.63
8.31
3
5.24
0.86
0.62
0.75
0.45
0.63
8.54
4
5.50
0.91
0.62
0.67
0.47
0.63
8.80
5
5.78
0.96
0.62
0.59
0.49
0.63
9.06
6
6.07
1.01
0.62
0.51
0.51
0.63
9.35
7
6.37
1.07
0.62
0.43
0.53
0.63
9.65
8
6.69
1.13
0.62
0.35
0.55
0.63
9.98
9
7.02
1.20
0.62
0.28
0.58
0.63
10.32
10
7.38
1.26
0.62
0.20
0.60
0.63
10.69
11
7.74
1.34
0.62
0.12
0.63
0.76
11.21
12
8.13
1.41
0.62
0.04
0.66
0.76
11.62
13
8.54
1.49
0.26
0.00
0.68
0.76
11.74
14
8.97
1.58
0.26
0.00
0.72
0.76
12.29
15
9.41
1.67
0.26
0.00
0.75
0.76
12.86
16
9.88
1.77
0.26
0.00
0.79
0.76
13.47
17
10.38
1.87
0.26
0.00
0.83
0.76
14.10
18
10.90
1.97
0.26
0.00
0.87
0.76
14.77
19
11.44
2.09
0.26
0.00
0.91
0.76
15.47
20
12.01
2.21
0.26
0.00
0.96
0.76
16.20
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.81 Rs/Kwh
3.45 Rs/Kwh
8.26 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
191
Annexure 3.8 D
Select State
Punjab
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80 IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3342.60
3174
5.00%
47.26
5.72%
40.00
192
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
243.64
4.92
2
314.85
5.11
3
330.60
5.36
4
347.13
5.63
5
364.48
5.91
6
382.71
6.21
7
401.84
6.52
8
421.93
6.84
9
443.03
7.18
10
465.18
7.54
11
488.44
7.92
12
512.86
8.32
13
538.51
8.73
14
565.43
9.17
15
593.70
9.63
16
623.39
10.11
17
654.56
10.61
18
687.28
11.14
19
721.65
11.70
20
757.73
12.29
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
22.09
39.13
202.34
4.08
2
49.97
38.02
50.98
26.96
39.13
205.06
3.33
3
52.83
38.02
46.12
28.07
39.13
204.17
3.31
4
55.85
38.02
41.27
29.24
39.13
203.52
3.30
5
59.04
38.02
36.41
30.48
39.13
203.10
3.29
6
62.42
38.02
31.56
31.79
39.13
202.93
3.29
7
65.99
38.02
26.70
33.17
39.13
203.02
3.29
8
69.76
38.02
21.85
34.63
39.13
203.40
3.30
9
73.75
38.02
16.99
36.17
39.13
204.07
3.31
10
77.97
38.02
12.14
37.79
39.13
205.06
3.33
11
82.43
38.02
7.28
39.68
46.96
214.38
3.48
12
87.15
38.02
2.43
41.48
46.96
216.04
3.50
13
92.13
16.34
0.00
42.94
46.96
198.37
3.22
14
97.40
16.34
0.00
45.05
46.96
205.75
3.34
15
102.97
16.34
0.00
47.27
46.96
213.55
3.46
16
108.87
16.34
0.00
49.61
46.96
221.77
3.60
17
115.09
16.34
0.00
52.06
46.96
230.45
3.74
18
121.68
16.34
0.00
54.63
46.96
239.61
3.89
19
128.64
16.34
0.00
57.34
46.96
249.27
4.04
20
135.99
16.34
0.00
60.19
46.96
259.48
4.21
Levellised
6.86
1.16
0.57
0.48
0.57
0.69
10.32
1
4.92
0.95
0.77
1.13
0.45
0.79
9.00
2
5.11
0.81
0.62
0.83
0.44
0.63
8.43
3
5.36
0.86
0.62
0.75
0.46
0.63
8.67
4
5.63
0.91
0.62
0.67
0.47
0.63
8.93
5
5.91
0.96
0.62
0.59
0.49
0.63
9.20
6
6.21
1.01
0.62
0.51
0.52
0.63
9.50
7
6.52
1.07
0.62
0.43
0.54
0.63
9.81
8
6.84
1.13
0.62
0.35
0.56
0.63
10.14
9
7.18
1.20
0.62
0.28
0.59
0.63
10.49
10
7.54
1.26
0.62
0.20
0.61
0.63
10.87
11
7.92
1.34
0.62
0.12
0.64
0.76
11.40
12
8.32
1.41
0.62
0.04
0.67
0.76
11.82
13
8.73
1.49
0.26
0.00
0.70
0.76
11.95
14
9.17
1.58
0.26
0.00
0.73
0.76
12.50
15
9.63
1.67
0.26
0.00
0.77
0.76
13.09
16
10.11
1.77
0.26
0.00
0.80
0.76
13.70
17
10.61
1.87
0.26
0.00
0.84
0.76
14.35
18
11.14
1.97
0.26
0.00
0.89
0.76
15.03
19
11.70
2.09
0.26
0.00
0.93
0.76
15.74
20
12.29
2.21
0.26
0.00
0.98
0.76
16.49
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.92 Rs/Kwh
3.46 Rs/Kwh
8.38 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
193
Annexure 3.8 E
Select State
Rajasthan
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2789.54
3174
5.00%
47.26
5.72%
40.00
194
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
203.32
4.10
2
262.76
4.26
3
275.90
4.47
4
289.69
4.70
5
304.18
4.93
6
319.38
5.18
7
335.35
5.44
8
352.12
5.71
9
369.73
6.00
10
388.21
6.29
11
407.62
6.61
12
428.01
6.94
13
449.41
7.29
14
471.88
7.65
15
495.47
8.03
16
520.24
8.44
17
546.26
8.86
18
573.57
9.30
19
602.25
9.77
20
632.36
10.25
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.36
39.13
199.61
4.03
2
49.97
38.02
50.98
23.42
39.13
201.53
3.27
3
52.83
38.02
46.12
24.36
39.13
200.47
3.25
4
55.85
38.02
41.27
25.35
39.13
199.62
3.24
5
59.04
38.02
36.41
26.39
39.13
199.01
3.23
6
62.42
38.02
31.56
27.50
39.13
198.63
3.22
7
65.99
38.02
26.70
28.67
39.13
198.52
3.22
8
69.76
38.02
21.85
29.90
39.13
198.67
3.22
9
73.75
38.02
16.99
31.20
39.13
199.10
3.23
10
77.97
38.02
12.14
32.57
39.13
199.84
3.24
11
82.43
38.02
7.28
34.20
46.96
208.90
3.39
12
87.15
38.02
2.43
35.72
46.96
210.28
3.41
13
92.13
16.34
0.00
36.90
46.96
192.33
3.12
14
97.40
16.34
0.00
38.71
46.96
199.41
3.23
15
102.97
16.34
0.00
40.61
46.96
206.88
3.35
16
108.87
16.34
0.00
42.61
46.96
214.77
3.48
17
115.09
16.34
0.00
44.71
46.96
223.10
3.62
18
121.68
16.34
0.00
46.92
46.96
231.89
3.76
19
128.64
16.34
0.00
49.25
46.96
241.18
3.91
20
135.99
16.34
0.00
51.69
46.96
250.98
4.07
Levellised
5.73
1.16
0.57
0.48
0.49
0.69
9.11
1
4.10
0.95
0.77
1.13
0.39
0.79
8.13
2
4.26
0.81
0.62
0.83
0.38
0.63
7.53
3
4.47
0.86
0.62
0.75
0.39
0.63
7.72
4
4.70
0.91
0.62
0.67
0.41
0.63
7.93
5
4.93
0.96
0.62
0.59
0.43
0.63
8.16
6
5.18
1.01
0.62
0.51
0.45
0.63
8.40
7
5.44
1.07
0.62
0.43
0.46
0.63
8.66
8
5.71
1.13
0.62
0.35
0.48
0.63
8.93
9
6.00
1.20
0.62
0.28
0.51
0.63
9.22
10
6.29
1.26
0.62
0.20
0.53
0.63
9.54
11
6.61
1.34
0.62
0.12
0.55
0.76
10.00
12
6.94
1.41
0.62
0.04
0.58
0.76
10.35
13
7.29
1.49
0.26
0.00
0.60
0.76
10.41
14
7.65
1.58
0.26
0.00
0.63
0.76
10.89
15
8.03
1.67
0.26
0.00
0.66
0.76
11.39
16
8.44
1.77
0.26
0.00
0.69
0.76
11.92
17
8.86
1.87
0.26
0.00
0.73
0.76
12.48
18
9.30
1.97
0.26
0.00
0.76
0.76
13.06
19
9.77
2.09
0.26
0.00
0.80
0.76
13.68
20
10.25
2.21
0.26
0.00
0.84
0.76
14.32
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.10 Rs/Kwh
3.39 Rs/Kwh
7.49 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
195
Annexure 3.8 F
Select State
TN
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2761.64
3174
5.00%
47.26
5.72%
40.00
196
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
201.29
4.06
2
260.13
4.22
3
273.14
4.43
4
286.79
4.65
5
301.13
4.88
6
316.19
5.13
7
332.00
5.38
8
348.60
5.65
9
366.03
5.94
10
384.33
6.23
11
403.55
6.54
12
423.72
6.87
13
444.91
7.21
14
467.16
7.58
15
490.51
7.95
16
515.04
8.35
17
540.79
8.77
18
567.83
9.21
19
596.22
9.67
20
626.03
10.15
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.22
39.13
199.47
4.03
2
49.97
38.02
50.98
23.25
39.13
201.35
3.26
3
52.83
38.02
46.12
24.17
39.13
200.28
3.25
4
55.85
38.02
41.27
25.15
39.13
199.43
3.23
5
59.04
38.02
36.41
26.19
39.13
198.80
3.22
6
62.42
38.02
31.56
27.28
39.13
198.42
3.22
7
65.99
38.02
26.70
28.44
39.13
198.29
3.22
8
69.76
38.02
21.85
29.66
39.13
198.43
3.22
9
73.75
38.02
16.99
30.95
39.13
198.85
3.22
10
77.97
38.02
12.14
32.31
39.13
199.58
3.24
11
82.43
38.02
7.28
33.92
46.96
208.62
3.38
12
87.15
38.02
2.43
35.43
46.96
209.99
3.41
13
92.13
16.34
0.00
36.60
46.96
192.03
3.11
14
97.40
16.34
0.00
38.39
46.96
199.09
3.23
15
102.97
16.34
0.00
40.28
46.96
206.55
3.35
16
108.87
16.34
0.00
42.26
46.96
214.42
3.48
17
115.09
16.34
0.00
44.34
46.96
222.73
3.61
18
121.68
16.34
0.00
46.53
46.96
231.51
3.75
19
128.64
16.34
0.00
48.84
46.96
240.77
3.90
20
135.99
16.34
0.00
51.26
46.96
250.55
4.06
Levellised
5.67
1.16
0.57
0.48
0.49
0.69
9.05
1
4.06
0.95
0.77
1.13
0.39
0.79
8.09
2
4.22
0.81
0.62
0.83
0.38
0.63
7.48
3
4.43
0.86
0.62
0.75
0.39
0.63
7.68
4
4.65
0.91
0.62
0.67
0.41
0.63
7.88
5
4.88
0.96
0.62
0.59
0.42
0.63
8.11
6
5.13
1.01
0.62
0.51
0.44
0.63
8.34
7
5.38
1.07
0.62
0.43
0.46
0.63
8.60
8
5.65
1.13
0.62
0.35
0.48
0.63
8.87
9
5.94
1.20
0.62
0.28
0.50
0.63
9.16
10
6.23
1.26
0.62
0.20
0.52
0.63
9.47
11
6.54
1.34
0.62
0.12
0.55
0.76
9.93
12
6.87
1.41
0.62
0.04
0.57
0.76
10.28
13
7.21
1.49
0.26
0.00
0.59
0.76
10.33
14
7.58
1.58
0.26
0.00
0.62
0.76
10.80
15
7.95
1.67
0.26
0.00
0.65
0.76
11.30
16
8.35
1.77
0.26
0.00
0.69
0.76
11.83
17
8.77
1.87
0.26
0.00
0.72
0.76
12.38
18
9.21
1.97
0.26
0.00
0.75
0.76
12.96
19
9.67
2.09
0.26
0.00
0.79
0.76
13.57
20
10.15
2.21
0.26
0.00
0.83
0.76
14.21
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.06 Rs/Kwh
3.38 Rs/Kwh
7.45 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
197
Annexure 3.8 G
Select State
UP
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
%
MAT
(for first 10 years)
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
2856.25
3174
5.00%
47.26
5.72%
40.00
198
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
208.19
4.20
2
269.04
4.36
3
282.49
4.58
4
296.62
4.81
5
311.45
5.05
6
327.02
5.30
7
343.37
5.57
8
360.54
5.85
9
378.57
6.14
10
397.50
6.45
11
417.37
6.77
12
438.24
7.11
13
460.15
7.46
14
483.16
7.83
15
507.32
8.23
16
532.68
8.64
17
559.32
9.07
18
587.28
9.52
19
616.65
10.00
20
647.48
10.50
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
19.69
39.13
199.94
4.04
2
49.97
38.02
50.98
23.85
39.13
201.95
3.27
3
52.83
38.02
46.12
24.81
39.13
200.91
3.26
4
55.85
38.02
41.27
25.82
39.13
200.09
3.24
5
59.04
38.02
36.41
26.89
39.13
199.50
3.23
6
62.42
38.02
31.56
28.02
39.13
199.15
3.23
7
65.99
38.02
26.70
29.21
39.13
199.06
3.23
8
69.76
38.02
21.85
30.47
39.13
199.24
3.23
9
73.75
38.02
16.99
31.80
39.13
199.70
3.24
10
77.97
38.02
12.14
33.20
39.13
200.47
3.25
11
82.43
38.02
7.28
34.86
46.96
209.56
3.40
12
87.15
38.02
2.43
36.42
46.96
210.98
3.42
13
92.13
16.34
0.00
37.63
46.96
193.06
3.13
14
97.40
16.34
0.00
39.48
46.96
200.18
3.25
15
102.97
16.34
0.00
41.42
46.96
207.69
3.37
16
108.87
16.34
0.00
43.46
46.96
215.62
3.50
17
115.09
16.34
0.00
45.60
46.96
223.99
3.63
18
121.68
16.34
0.00
47.85
46.96
232.82
3.78
19
128.64
16.34
0.00
50.22
46.96
242.15
3.93
20
135.99
16.34
0.00
52.71
46.96
252.00
4.09
Levellised
5.86
1.16
0.57
0.48
0.50
0.69
9.26
1
4.20
0.95
0.77
1.13
0.40
0.79
8.24
2
4.36
0.81
0.62
0.83
0.39
0.63
7.64
3
4.58
0.86
0.62
0.75
0.40
0.63
7.84
4
4.81
0.91
0.62
0.67
0.42
0.63
8.05
5
5.05
0.96
0.62
0.59
0.44
0.63
8.29
6
5.30
1.01
0.62
0.51
0.45
0.63
8.53
7
5.57
1.07
0.62
0.43
0.47
0.63
8.80
8
5.85
1.13
0.62
0.35
0.49
0.63
9.08
9
6.14
1.20
0.62
0.28
0.52
0.63
9.38
10
6.45
1.26
0.62
0.20
0.54
0.63
9.70
11
6.77
1.34
0.62
0.12
0.57
0.76
10.17
12
7.11
1.41
0.62
0.04
0.59
0.76
10.53
13
7.46
1.49
0.26
0.00
0.61
0.76
10.59
14
7.83
1.58
0.26
0.00
0.64
0.76
11.08
15
8.23
1.67
0.26
0.00
0.67
0.76
11.59
16
8.64
1.77
0.26
0.00
0.70
0.76
12.13
17
9.07
1.87
0.26
0.00
0.74
0.76
12.70
18
9.52
1.97
0.26
0.00
0.78
0.76
13.30
19
10.00
2.09
0.26
0.00
0.81
0.76
13.93
20
10.50
2.21
0.26
0.00
0.85
0.76
14.59
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.20 Rs/Kwh
3.40 Rs/Kwh
7.60 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
199
Annexure 3.8 H
Select State
Others
Assumption for Biomass Power Project Parameters
S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
Installed Power Generation Capacity
MW
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
Years
1
13%
12%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Power Plant Cost
Rs Lacs/MW
652.20
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
456.543
195.661
Loan Amount
Rs Lacs
Moratorium Period
years
Repayment Period(incld Moratorium)
years
Interest Rate
%
456.543
0
12
12.76%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
Return on Equity after 10 years %
195.661
20.00%
10.00
24.00%
Debt Component
Equity Component
Weighted average of ROE
%
Discount Rate (equiv. to WACC) %
4 Financial Assumptions
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Maintenance Spare (% of O&M exepenses)
Receivables for Debtors
Months
For Variable Charges
Biomass Stock
Months
Interest On Working Capital
%
6 Fuel Related Assumptions
Heat Rate
After Stabilisation period
Kcal/kwh
During Stablization Period
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Rs Lacs
O & M Expenses Escalation
O&M Expenses (2013-14)
%
Rs Lacs
22.00%
10.70%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.26%
4063
4063
3003.01
3174
5.00%
47.26
5.72%
40.00
200
Determination of Tariff Component: Biomass Power Projects
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.74
4.95
2
1
7.01
0.84
6.17
3
1
7.01
0.84
6.17
4
1
7.01
0.84
6.17
5
1
7.01
0.84
6.17
6
1
7.01
0.84
6.17
7
1
7.01
0.84
6.17
8
1
7.01
0.84
6.17
9
1
7.01
0.84
6.17
10
1
7.01
0.84
6.17
11
1
7.01
0.84
6.17
12
1
7.01
0.84
6.17
13
1
7.01
0.84
6.17
14
1
7.01
0.84
6.17
15
1
7.01
0.84
6.17
16
1
7.01
0.84
6.17
17
1
7.01
0.84
6.17
18
1
7.01
0.84
6.17
19
1
7.01
0.84
6.17
20
1
7.01
0.84
6.17
Unit
Rs Lakh
Rs/kWh
Year--->
1
218.88
4.42
2
282.87
4.59
3
297.01
4.82
4
311.86
5.06
5
327.45
5.31
6
343.83
5.58
7
361.02
5.85
8
379.07
6.15
9
398.02
6.45
10
417.92
6.78
11
438.82
7.12
12
460.76
7.47
13
483.80
7.84
14
507.99
8.24
15
533.39
8.65
16
560.05
9.08
17
588.06
9.54
18
617.46
10.01
19
648.33
10.51
20
680.75
11.04
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Year--->
1
47.26
38.02
55.83
20.41
39.13
200.67
4.05
2
49.97
38.02
50.98
24.79
39.13
202.89
3.29
3
52.83
38.02
46.12
25.79
39.13
201.90
3.27
4
55.85
38.02
41.27
26.85
39.13
201.12
3.26
5
59.04
38.02
36.41
27.97
39.13
200.59
3.25
6
62.42
38.02
31.56
29.16
39.13
200.29
3.25
7
65.99
38.02
26.70
30.41
39.13
200.26
3.25
8
69.76
38.02
21.85
31.73
39.13
200.49
3.25
9
73.75
38.02
16.99
33.12
39.13
201.02
3.26
10
77.97
38.02
12.14
34.59
39.13
201.85
3.27
11
82.43
38.02
7.28
36.31
46.96
211.01
3.42
12
87.15
38.02
2.43
37.95
46.96
212.50
3.45
13
92.13
16.34
0.00
39.23
46.96
194.66
3.16
14
97.40
16.34
0.00
41.16
46.96
201.86
3.27
15
102.97
16.34
0.00
43.18
46.96
209.46
3.40
16
108.87
16.34
0.00
45.31
46.96
217.47
3.53
17
115.09
16.34
0.00
47.55
46.96
225.94
3.66
18
121.68
16.34
0.00
49.90
46.96
234.87
3.81
19
128.64
16.34
0.00
52.37
46.96
244.30
3.96
20
135.99
16.34
0.00
54.97
46.96
254.26
4.12
Levellised
6.16
1.16
0.57
0.48
0.52
0.69
9.58
1
4.42
0.95
0.77
1.13
0.41
0.79
8.47
2
4.59
0.81
0.62
0.83
0.40
0.63
7.88
3
4.82
0.86
0.62
0.75
0.42
0.63
8.09
4
5.06
0.91
0.62
0.67
0.44
0.63
8.32
5
5.31
0.96
0.62
0.59
0.45
0.63
8.56
6
5.58
1.01
0.62
0.51
0.47
0.63
8.82
7
5.85
1.07
0.62
0.43
0.49
0.63
9.10
8
6.15
1.13
0.62
0.35
0.51
0.63
9.40
9
6.45
1.20
0.62
0.28
0.54
0.63
9.71
10
6.78
1.26
0.62
0.20
0.56
0.63
10.05
11
7.12
1.34
0.62
0.12
0.59
0.76
10.54
12
7.47
1.41
0.62
0.04
0.62
0.76
10.92
13
7.84
1.49
0.26
0.00
0.64
0.76
11.00
14
8.24
1.58
0.26
0.00
0.67
0.76
11.51
15
8.65
1.67
0.26
0.00
0.70
0.76
12.05
16
9.08
1.77
0.26
0.00
0.73
0.76
12.61
17
9.54
1.87
0.26
0.00
0.77
0.76
13.20
18
10.01
1.97
0.26
0.00
0.81
0.76
13.82
19
10.51
2.09
0.26
0.00
0.85
0.76
14.47
20
11.04
2.21
0.26
0.00
0.89
0.76
15.16
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Vaiable Cost
Biomass Cost
Per unit Var Cost
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.42 Rs/Kwh
3.42 Rs/Kwh
7.84 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.99%
652.205
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.22
2
5.28%
34.44
3
5.28%
34.44
4
5.28%
34.44
5
5.28%
34.44
6
5.28%
34.44
7
5.28%
34.44
8
5.28%
34.44
9
5.28%
34.44
10
5.28%
34.44
11
5.28%
34.44
12
5.28%
34.44
13
5.28%
34.44
14
5.28%
34.44
15
5.28%
34.44
16
5.28%
34.44
17
5.28%
34.44
18
2.88%
18.78
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
326.10
50.00%
45.00%
5%
293.49
5.00%
4.00%
1.00%
26.09
1.00%
0.80%
0.20%
5.22
0.20%
0.16%
0.04%
1.04
0.04%
0.03%
0.01%
0.21
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
308.88
104.99
2.48
4.24
259.06
88.05
6.17
1.43
-8.35
-2.84
6.17
-0.05
-29.22
-9.93
6.17
-0.16
-33.39
-11.35
6.17
-0.18
-34.23
-11.63
6.17
-0.19
-34.39
-11.69
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.43
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-34.44
-11.70
6.17
-0.19
-18.78
-6.38
6.17
-0.10
0.00
0.00
6.17
0.00
0.00
0.00
6.17
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.21
(Rs/kWh)
201
Annexure 4A
Non Fossil Fuel Based Congeneration
Select State
AP
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT
Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
1585.19
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
202
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
9.95
27.16
122.26
3.39
2
21.13
26.40
35.39
10.28
27.16
120.35
3.34
3
22.34
26.40
32.02
10.62
27.16
118.54
3.29
4
23.62
26.40
28.65
10.99
27.16
116.81
3.24
5
24.97
26.40
25.28
11.38
27.16
115.18
3.19
6
26.40
26.40
21.91
11.79
27.16
113.65
3.15
7
27.91
26.40
18.54
12.23
27.16
112.23
3.11
8
29.50
26.40
15.17
12.69
27.16
110.92
3.08
9
31.19
26.40
11.80
13.19
27.16
109.73
3.04
10
32.97
26.40
8.43
13.71
27.16
108.67
3.01
11
34.86
26.40
5.06
14.38
32.60
113.29
3.14
12
36.85
26.40
1.69
14.97
32.60
112.50
3.12
13
38.96
11.34
0.00
15.28
32.60
98.18
2.72
14
41.19
11.34
0.00
16.01
32.60
101.14
2.80
15
43.55
11.34
0.00
16.78
32.60
104.26
2.89
Levellised
3.91
0.82
0.65
0.54
0.35
0.79
7.08
1
2.77
0.55
0.73
1.07
0.28
0.75
6.16
2
2.91
0.59
0.73
0.98
0.28
0.75
6.25
3
3.06
0.62
0.73
0.89
0.29
0.75
6.34
4
3.21
0.65
0.73
0.79
0.30
0.75
6.45
5
3.37
0.69
0.73
0.70
0.32
0.75
6.56
6
3.54
0.73
0.73
0.61
0.33
0.75
6.69
7
3.71
0.77
0.73
0.51
0.34
0.75
6.83
8
3.90
0.82
0.73
0.42
0.35
0.75
6.98
9
4.10
0.86
0.73
0.33
0.37
0.75
7.14
10
4.30
0.91
0.73
0.23
0.38
0.75
7.31
11
4.52
0.97
0.73
0.14
0.40
0.90
7.66
12
4.74
1.02
0.73
0.05
0.41
0.90
7.86
13
4.98
1.08
0.31
0.00
0.42
0.90
7.70
14
5.23
1.14
0.31
0.00
0.44
0.90
8.03
15
5.49
1.21
0.31
0.00
0.47
0.90
8.38
16
5.76
1.28
0.31
0.00
0.49
0.90
8.74
17
6.05
1.35
0.31
0.00
0.51
0.90
9.13
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
16
17
46.04 48.67
11.34 11.34
0.00
0.00
17.58 18.43
32.60 32.60
107.56 111.04
2.98
3.08
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
18
51.45
11.34
0.00
19.32
32.60
114.72
3.18
19
54.40
11.34
0.00
20.26
32.60
118.60
3.29
20
57.51
11.34
0.00
21.24
32.60
122.69
3.40
18
6.35
1.43
0.31
0.00
0.54
0.90
9.53
19
6.67
1.51
0.31
0.00
0.56
0.90
9.96
20
7.00
1.59
0.31
0.00
0.59
0.90
10.41
18
0.178
19
0.161
20
0.145
2.77 Rs/Kwh
3.17 Rs/Kwh
5.94 Rs/Kwh
203
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
1.80
3.93
174.86
59.44
3.61
1.65
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
204
Annexure 4 B
Select State
Harayana
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
2254.67
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
205
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
14.53
27.16
126.83
2.99
2
21.13
26.40
35.39
15.08
27.16
125.16
2.95
3
22.34
26.40
32.02
15.67
27.16
123.58
2.91
4
23.62
26.40
28.65
16.29
27.16
122.11
2.87
5
24.97
26.40
25.28
16.94
27.16
120.75
2.84
6
26.40
26.40
21.91
17.63
27.16
119.50
2.81
7
27.91
26.40
18.54
18.36
27.16
118.37
2.79
8
29.50
26.40
15.17
19.13
27.16
117.36
2.76
9
31.19
26.40
11.80
19.95
27.16
116.49
2.74
10
32.97
26.40
8.43
20.81
27.16
115.77
2.73
11
34.86
26.40
5.06
21.84
32.60
120.75
2.84
12
36.85
26.40
1.69
22.79
32.60
120.33
2.83
Levellised
5.56
0.70
0.55
0.46
0.45
0.67
8.40
1
3.94
0.47
0.62
0.91
0.34
0.64
6.93
2
4.14
0.50
0.62
0.83
0.36
0.64
7.09
3
4.35
0.53
0.62
0.75
0.37
0.64
7.26
4
4.56
0.56
0.62
0.67
0.38
0.64
7.44
5
4.79
0.59
0.62
0.60
0.40
0.64
7.63
6
5.03
0.62
0.62
0.52
0.42
0.64
7.84
7
5.28
0.66
0.62
0.44
0.43
0.64
8.07
8
5.55
0.69
0.62
0.36
0.45
0.64
8.31
9
5.83
0.73
0.62
0.28
0.47
0.64
8.57
10
6.12
0.78
0.62
0.20
0.49
0.64
8.84
11
6.42
0.82
0.62
0.12
0.51
0.77
9.26
12
6.74
0.87
0.62
0.04
0.54
0.77
9.58
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
13
14
38.96 41.19
11.34 11.34
0.00
0.00
23.50 24.64
32.60 32.60
106.40 109.77
2.50
2.58
13
7.08
0.92
0.27
0.00
0.55
0.77
9.59
13
0.295
14
7.43
0.97
0.27
0.00
0.58
0.77
10.02
14
0.267
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
15
43.55
11.34
0.00
25.84
32.60
113.33
2.67
16
17
46.04 48.67
11.34 11.34
0.00
0.00
27.10 28.42
32.60 32.60
117.08 121.03
2.76
2.85
18
51.45
11.34
0.00
29.81
32.60
125.21
2.95
19
54.40
11.34
0.00
31.28
32.60
129.61
3.05
20
57.51
11.34
0.00
32.81
32.60
134.26
3.16
15
7.81
1.03
0.27
0.00
0.61
0.77
10.47
16
8.20
1.08
0.27
0.00
0.64
0.77
10.95
18
9.04
1.21
0.27
0.00
0.70
0.77
11.98
19
9.49
1.28
0.27
0.00
0.74
0.77
12.54
20
9.96
1.35
0.27
0.00
0.77
0.77
13.12
15
0.241
16
0.218
17
8.61
1.15
0.27
0.00
0.67
0.77
11.46
17
0.197
18
0.178
19
0.161
20
0.145
3.94 Rs/Kwh
2.84 Rs/Kwh
6.79 Rs/Kwh
206
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
2.12
3.34
174.86
59.44
4.25
1.40
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.05 -0.16 -0.18 -0.18 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.10
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
(Rs/kWh)
207
Annexure 4 C
Select State
Maharashtra
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT
Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
2221.93
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
208
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
15.84
27.16
128.15
2.66
2
21.13
26.40
35.39
16.46
27.16
126.54
2.63
3
22.34
26.40
32.02
17.11
27.16
125.03
2.60
4
23.62
26.40
28.65
17.81
27.16
123.63
2.57
5
24.97
26.40
25.28
18.54
27.16
122.34
2.54
6
26.40
26.40
21.91
19.31
27.16
121.17
2.52
7
27.91
26.40
18.54
20.12
27.16
120.13
2.50
8
29.50
26.40
15.17
20.98
27.16
119.21
2.48
9
31.19
26.40
11.80
21.89
27.16
118.43
2.46
10
32.97
26.40
8.43
22.85
27.16
117.80
2.45
11
34.86
26.40
5.06
23.98
32.60
122.88
2.56
12
36.85
26.40
1.69
25.04
32.60
122.57
2.55
Levellised
5.48
0.62
0.49
0.41
0.44
0.59
8.03
1
3.89
0.42
0.55
0.81
0.33
0.56
6.55
2
4.08
0.44
0.55
0.74
0.34
0.56
6.71
3
4.28
0.46
0.55
0.67
0.36
0.56
6.88
4
4.50
0.49
0.55
0.60
0.37
0.56
7.07
5
4.72
0.52
0.55
0.53
0.39
0.56
7.27
6
4.96
0.55
0.55
0.46
0.40
0.56
7.48
7
5.21
0.58
0.55
0.39
0.42
0.56
7.70
8
5.47
0.61
0.55
0.32
0.44
0.56
7.95
9
5.74
0.65
0.55
0.25
0.46
0.56
8.20
10
6.03
0.69
0.55
0.18
0.48
0.56
8.48
11
6.33
0.72
0.55
0.11
0.50
0.68
8.88
12
6.65
0.77
0.55
0.04
0.52
0.68
9.19
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
13
14
38.96 41.19
11.34 11.34
0.00
0.00
25.86 27.12
32.60 32.60
108.76 112.25
2.26
2.33
13
6.98
0.81
0.24
0.00
0.54
0.68
9.24
14
7.33
0.86
0.24
0.00
0.56
0.68
9.66
13
0.295
14
0.267
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
15
43.55
11.34
0.00
28.44
32.60
115.93
2.41
16
17
46.04 48.67
11.34 11.34
0.00
0.00
29.83 31.29
32.60 32.60
119.81 123.90
2.49
2.58
18
51.45
11.34
0.00
32.82
32.60
128.22
2.67
19
54.40
11.34
0.00
34.44
32.60
132.77
2.76
20
57.51
11.34
0.00
36.13
32.60
137.58
2.86
15
7.69
0.91
0.24
0.00
0.59
0.68
10.10
16
8.08
0.96
0.24
0.00
0.62
0.68
10.57
18
8.91
1.07
0.24
0.00
0.68
0.68
11.57
19
9.35
1.13
0.24
0.00
0.72
0.68
12.11
20
9.82
1.20
0.24
0.00
0.75
0.68
12.68
15
0.241
16
0.218
17
8.48
1.01
0.24
0.00
0.65
0.68
11.06
17
0.197
18
0.178
19
0.161
3.89 Rs/Kwh
2.55 Rs/Kwh
6.43 Rs/Kwh
209
20
0.145
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
2.40
2.95
174.86
59.44
4.81
1.24
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.04 -0.14 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.09
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.17
0.15
(Rs/kWh)
210
Annexure 4 D
Select State
Punjab
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT
Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
1984.22
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
211
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
13.17
27.16
125.47
2.95
2
21.13
26.40
35.39
13.65
27.16
123.73
2.91
3
22.34
26.40
32.02
14.17
27.16
122.08
2.87
4
23.62
26.40
28.65
14.71
27.16
120.53
2.84
5
24.97
26.40
25.28
15.28
27.16
119.09
2.80
6
26.40
26.40
21.91
15.89
27.16
117.76
2.77
7
27.91
26.40
18.54
16.54
27.16
116.54
2.74
8
29.50
26.40
15.17
17.22
27.16
115.45
2.72
9
31.19
26.40
11.80
17.94
27.16
114.48
2.69
10
32.97
26.40
8.43
18.69
27.16
113.65
2.68
11
34.86
26.40
5.06
19.62
32.60
118.53
2.79
12
36.85
26.40
1.69
20.46
32.60
118.00
2.78
Levellised
4.89
0.70
0.55
0.46
0.41
0.67
7.69
1
3.47
0.47
0.62
0.91
0.31
0.64
6.42
2
3.64
0.50
0.62
0.83
0.32
0.64
6.56
3
3.83
0.53
0.62
0.75
0.33
0.64
6.70
4
4.02
0.56
0.62
0.67
0.35
0.64
6.85
5
4.22
0.59
0.62
0.60
0.36
0.64
7.02
6
4.43
0.62
0.62
0.52
0.37
0.64
7.20
7
4.65
0.66
0.62
0.44
0.39
0.64
7.39
8
4.88
0.69
0.62
0.36
0.41
0.64
7.60
9
5.13
0.73
0.62
0.28
0.42
0.64
7.82
10
5.38
0.78
0.62
0.20
0.44
0.64
8.06
11
5.65
0.82
0.62
0.12
0.46
0.77
8.44
12
5.93
0.87
0.62
0.04
0.48
0.77
8.71
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
13
14
38.96 41.19
11.34 11.34
0.00
0.00
21.06 22.07
32.60 32.60
103.96 107.20
2.45
2.52
15
1
4.64
0.39
4.25
15
43.55
11.34
0.00
23.14
32.60
110.63
2.60
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
16
17
46.04 48.67
11.34 11.34
0.00
0.00
24.27 25.45
32.60 32.60
114.24 118.06
2.69
2.78
13
6.23
0.92
0.27
0.00
0.50
0.77
8.68
14
6.54
0.97
0.27
0.00
0.52
0.77
9.07
15
6.87
1.03
0.27
0.00
0.54
0.77
9.47
16
7.21
1.08
0.27
0.00
0.57
0.77
9.90
13
0.295
14
0.267
15
0.241
16
0.218
17
7.57
1.15
0.27
0.00
0.60
0.77
10.35
17
0.197
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
18
51.45
11.34
0.00
26.69
32.60
122.09
2.87
19
54.40
11.34
0.00
28.00
32.60
126.33
2.97
20
57.51
11.34
0.00
29.37
32.60
130.82
3.08
18
7.95
1.21
0.27
0.00
0.63
0.77
10.83
19
8.35
1.28
0.27
0.00
0.66
0.77
11.32
20
8.77
1.35
0.27
0.00
0.69
0.77
11.85
18
0.178
19
0.161
20
0.145
3.47 Rs/Kwh
2.80 Rs/Kwh
6.27 Rs/Kwh
212
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
2.12
3.34
174.86
59.44
4.25
1.40
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.05 -0.16 -0.18 -0.18 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.10
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
(Rs/kWh)
213
Annexure 4 E
Select State
TN
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT
Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
1707.69
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
214
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
12.91
27.16
125.21
2.60
2
21.13
26.40
35.39
13.38
27.16
123.46
2.57
3
22.34
26.40
32.02
13.88
27.16
121.80
2.53
4
23.62
26.40
28.65
14.41
27.16
120.24
2.50
5
24.97
26.40
25.28
14.97
27.16
118.78
2.47
6
26.40
26.40
21.91
15.57
27.16
117.43
2.44
7
27.91
26.40
18.54
16.19
27.16
116.20
2.42
8
29.50
26.40
15.17
16.86
27.16
115.08
2.39
9
31.19
26.40
11.80
17.56
27.16
114.10
2.37
10
32.97
26.40
8.43
18.30
27.16
113.26
2.35
11
34.86
26.40
5.06
19.20
32.60
118.11
2.46
12
36.85
26.40
1.69
20.03
32.60
117.56
2.44
Levellised
4.21
0.62
0.49
0.41
0.35
0.59
6.67
1
2.99
0.42
0.55
0.81
0.27
0.56
5.59
2
3.14
0.44
0.55
0.74
0.28
0.56
5.70
3
3.29
0.46
0.55
0.67
0.29
0.56
5.82
4
3.46
0.49
0.55
0.60
0.30
0.56
5.96
5
3.63
0.52
0.55
0.53
0.31
0.56
6.10
6
3.81
0.55
0.55
0.46
0.32
0.56
6.25
7
4.00
0.58
0.55
0.39
0.34
0.56
6.42
8
4.20
0.61
0.55
0.32
0.35
0.56
6.59
9
4.41
0.65
0.55
0.25
0.37
0.56
6.78
10
4.63
0.69
0.55
0.18
0.38
0.56
6.99
11
4.86
0.72
0.55
0.11
0.40
0.68
7.32
12
5.11
0.77
0.55
0.04
0.42
0.68
7.55
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
13
14
38.96 41.19
11.34 11.34
0.00
0.00
20.59 21.59
32.60 32.60
103.49 106.72
2.15
2.22
15
1
5.26
0.45
4.81
15
43.55
11.34
0.00
22.64
32.60
110.12
2.29
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
16
17
46.04 48.67
11.34 11.34
0.00
0.00
23.73 24.89
32.60 32.60
113.71 117.50
2.36
2.44
13
5.36
0.81
0.24
0.00
0.43
0.68
7.51
14
5.63
0.86
0.24
0.00
0.45
0.68
7.85
15
5.91
0.91
0.24
0.00
0.47
0.68
8.20
16
6.21
0.96
0.24
0.00
0.49
0.68
8.57
17
6.52
1.01
0.24
0.00
0.52
0.68
8.96
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
1
5.26
0.45
4.81
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
18
51.45
11.34
0.00
26.10
32.60
121.50
2.53
19
54.40
11.34
0.00
27.38
32.60
125.72
2.61
20
57.51
11.34
0.00
28.72
32.60
130.17
2.71
18
6.84
1.07
0.24
0.00
0.54
0.68
9.37
19
7.19
1.13
0.24
0.00
0.57
0.68
9.80
20
7.55
1.20
0.24
0.00
0.60
0.68
10.25
18
0.178
19
0.161
20
0.145
2.99 Rs/Kwh
2.46 Rs/Kwh
5.45 Rs/Kwh
215
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
2.40
2.95
174.86
59.44
4.81
1.24
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.04 -0.14 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.16 -0.09
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.17
0.15
(Rs/kWh)
216
Annexure 4 F
Select State
UP
Non Fossil Fuel based co-generation Projects
S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax
MAT Rate
(for first 10 years)
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
1768.33
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
217
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
10.73
27.16
123.04
3.41
2
21.13
26.40
35.39
11.10
27.16
121.18
3.36
3
22.34
26.40
32.02
11.48
27.16
119.40
3.31
4
23.62
26.40
28.65
11.89
27.16
117.72
3.26
5
24.97
26.40
25.28
12.33
27.16
116.13
3.22
6
26.40
26.40
21.91
12.79
27.16
114.65
3.18
7
27.91
26.40
18.54
13.28
27.16
113.28
3.14
8
29.50
26.40
15.17
13.80
27.16
112.02
3.11
9
31.19
26.40
11.80
14.34
27.16
110.89
3.07
10
32.97
26.40
8.43
14.92
27.16
109.88
3.05
11
34.86
26.40
5.06
15.66
32.60
114.57
3.18
12
36.85
26.40
1.69
16.31
32.60
113.84
3.16
13
38.96
11.34
0.00
16.69
32.60
99.59
2.76
14
41.19
11.34
0.00
17.49
32.60
102.62
2.84
15
43.55
11.34
0.00
18.33
32.60
105.81
2.93
Levellised
4.36
0.82
0.65
0.54
0.39
0.79
7.56
1
3.09
0.55
0.73
1.07
0.30
0.75
6.50
2
3.25
0.59
0.73
0.98
0.31
0.75
6.61
3
3.41
0.62
0.73
0.89
0.32
0.75
6.72
4
3.58
0.65
0.73
0.79
0.33
0.75
6.84
5
3.76
0.69
0.73
0.70
0.34
0.75
6.98
6
3.95
0.73
0.73
0.61
0.35
0.75
7.13
7
4.14
0.77
0.73
0.51
0.37
0.75
7.28
8
4.35
0.82
0.73
0.42
0.38
0.75
7.46
9
4.57
0.86
0.73
0.33
0.40
0.75
7.64
10
4.80
0.91
0.73
0.23
0.41
0.75
7.84
11
5.04
0.97
0.73
0.14
0.43
0.90
8.21
12
5.29
1.02
0.73
0.05
0.45
0.90
8.44
13
5.55
1.08
0.31
0.00
0.46
0.90
8.31
14
5.83
1.14
0.31
0.00
0.48
0.90
8.68
15
6.12
1.21
0.31
0.00
0.51
0.90
9.06
16
6.43
1.28
0.31
0.00
0.53
0.90
9.46
17
6.75
1.35
0.31
0.00
0.56
0.90
9.88
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
16
17
46.04 48.67
11.34 11.34
0.00
0.00
19.21 20.14
32.60 32.60
109.19 112.75
3.03
3.13
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
18
51.45
11.34
0.00
21.12
32.60
116.51
3.23
19
54.40
11.34
0.00
22.14
32.60
120.48
3.34
20
57.51
11.34
0.00
23.22
32.60
124.67
3.46
18
7.09
1.43
0.31
0.00
0.59
0.90
10.32
19
7.44
1.51
0.31
0.00
0.61
0.90
10.78
20
7.81
1.59
0.31
0.00
0.64
0.90
11.27
18
0.178
19
0.161
20
0.145
3.09 Rs/Kwh
3.20 Rs/Kwh
6.29 Rs/Kwh
218
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
1.80
3.93
174.86
59.44
3.61
1.65
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
219
Annexure 4 G
Select State
Others
Non Fossil Fuel based co-generation Projects
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
Installed Power Generation Capacity
MW
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
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
452.746
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
316.922
135.824
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
316.92
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
135.82
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income
Tax(for first 10 years)
MAT
Rate
%
33.990%
20%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
%
%
5.83%
2.51%
3 Financial Assumptions
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
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
Fuel Related Assumptions
Heat Rate
Months
Months
1
15%
2
Months
%
4
13.26%
After Stabilisation period
During Stablization Period
Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
Operation & Maintenance
O&M Expenses (2016-17)
7
O & M Expenses Escalation
O&M Expenses (2012-13)
1919.93
2250
5.00%
Rs. Lacs
19.99
%
Rs. Lacs
5.72%
16.00
220
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
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
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
Year--->
1
19.99
26.40
38.76
12.84
27.16
125.15
2.95
2
21.13
26.40
35.39
13.31
27.16
123.39
2.90
3
22.34
26.40
32.02
13.81
27.16
121.73
2.87
4
23.62
26.40
28.65
14.33
27.16
120.16
2.83
5
24.97
26.40
25.28
14.89
27.16
118.70
2.79
6
26.40
26.40
21.91
15.48
27.16
117.34
2.76
7
27.91
26.40
18.54
16.10
27.16
116.11
2.73
8
29.50
26.40
15.17
16.76
27.16
114.99
2.71
9
31.19
26.40
11.80
17.46
27.16
114.00
2.68
10
32.97
26.40
8.43
18.19
27.16
113.15
2.66
11
34.86
26.40
5.06
19.09
32.60
118.00
2.78
12
36.85
26.40
1.69
19.91
32.60
117.44
2.76
Levellised
4.73
0.70
0.55
0.46
0.40
0.67
7.52
1
3.36
0.47
0.62
0.91
0.30
0.64
6.30
2
3.53
0.50
0.62
0.83
0.31
0.64
6.43
3
3.70
0.53
0.62
0.75
0.33
0.64
6.57
4
3.89
0.56
0.62
0.67
0.34
0.64
6.71
5
4.08
0.59
0.62
0.60
0.35
0.64
6.87
6
4.28
0.62
0.62
0.52
0.36
0.64
7.05
7
4.50
0.66
0.62
0.44
0.38
0.64
7.23
8
4.72
0.69
0.62
0.36
0.39
0.64
7.43
9
4.96
0.73
0.62
0.28
0.41
0.64
7.64
10
5.21
0.78
0.62
0.20
0.43
0.64
7.87
11
5.47
0.82
0.62
0.12
0.45
0.77
8.25
12
5.74
0.87
0.62
0.04
0.47
0.77
8.51
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
13
14
38.96 41.19
11.34 11.34
0.00
0.00
20.47 21.46
32.60 32.60
103.37 106.59
2.43
2.51
15
1
4.64
0.39
4.25
15
43.55
11.34
0.00
22.50
32.60
109.99
2.59
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
16
17
46.04 48.67
11.34 11.34
0.00
0.00
23.60 24.74
32.60 32.60
113.57 117.35
2.67
2.76
13
6.03
0.92
0.27
0.00
0.48
0.77
8.46
14
6.33
0.97
0.27
0.00
0.51
0.77
8.84
15
6.65
1.03
0.27
0.00
0.53
0.77
9.24
16
6.98
1.08
0.27
0.00
0.56
0.77
9.65
13
0.295
14
0.267
15
0.241
16
0.218
17
7.33
1.15
0.27
0.00
0.58
0.77
10.09
17
0.197
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
18
51.45
11.34
0.00
25.95
32.60
121.34
2.86
19
54.40
11.34
0.00
27.22
32.60
125.55
2.96
20
57.51
11.34
0.00
28.55
32.60
130.00
3.06
18
7.69
1.21
0.27
0.00
0.61
0.77
10.55
19
8.08
1.28
0.27
0.00
0.64
0.77
11.04
20
8.48
1.35
0.27
0.00
0.67
0.77
11.54
18
0.178
19
0.161
20
0.145
3.36 Rs/Kwh
2.79 Rs/Kwh
6.14 Rs/Kwh
221
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project
Depreciation amount
90%
Book Depreciation rate
5.28%
Tax Depreciation rate
80%
Additional Depriciation
20.00%
Income Tax (Normal Rates)
33.990%
Capital Cost Rs. Lakh
440.243
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.62
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
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%
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
23.24
12.68
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 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% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 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% 0.00%
50%
5% 1.00% 0.20% 0.04% 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% 0.00% 0.00%
220.12 198.11 17.61
3.52
0.70
0.14
0.03
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
208.50
70.87
2.12
3.34
174.86
59.44
4.25
1.40
1.00
0.95
-5.64 -19.72 -22.54 -23.10 -23.22 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -23.24 -12.68
-1.92 -6.70 -7.66 -7.85 -7.89 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -7.90 -4.31
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
-0.05 -0.16 -0.18 -0.18 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.10
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
(Rs/kWh)
222
Annexure 5 A
Solar PV Projects
Annexure 5A
Assumpion for Solar PV Power Projects Parameters
Assumption
S. No.
Sub-Head
Head
1
Sub-Head (2)
Unit
Asumptions
Power Generation
Capacity
Installed Power Generation Capacity
MW
1
Auxiliary Consumption
Capacity Utilization Factor
Useful Life
%
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
%
Equity
%
Total Debt Amount
Rs Lacs
371.02
Total Equity Amout
Rs Lacs
159.01
Loan Amount
Rs Lacs
371.02
Moratorium Period
years
0
Repayment Period(incld Moratorium)
years
12
Interest Rate
%
12.76%
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
159.01
20.00%
10
24.00%
22.40%
0.00%
19.0%
25
2 Project Cost
Capital Cost/MW
530.02
3 Financial Assumptions
25
Debt: Equity
70%
30%
Debt Component
Equity Component
Discount Rate
4
10.70%
Financial Assumptions
Fiscal Assumptions
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
%
%
33.990%
20.000%
Yes
Depreciation
Years for 5.83% rate
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
%
Months
%
1
15%
2
13.26%
6 Operation & Maintenance
O&M Expenses (2016-17)
Rs. Lacs
7.00
223
Determination of Tariff for Solar PV
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Unit
MW
MU
MU
Year--->
1
1
1.664
0.00000
1.664
2
1
1.66
0.00000
1.664
3
1
1.66
0.00000
1.664
4
1
1.66
0.00000
1.664
5
1
1.66
0.00000
1.664
6
1
1.66
0.00000
1.664
7
1
1.66
0.00000
1.664
8
1
1.66
0.00000
1.664
9
1
1.66
0.00000
1.664
10
1
1.66
0.00000
1.664
11
1
1.66
0.00000
1.664
12
1
1.66
0.00000
1.664
13
1
1.66
0.00000
1.664
14
1
1.66
0.00000
1.664
15
1
1.66
0.00000
1.664
16
1
1.66
0.00000
1.664
17
1
1.66
0.00000
1.664
18
1
1.66
0.00000
1.664
19
1
1.66
0.00000
1.664
20
1
1.66
0.00000
1.664
21
1
1.66
0.00000
1.664
22
1
1.66
0.00000
1.664
23
1
1.66
0.00000
1.664
24
1
1.66
0.00000
1.664
25
1
1.66
0.00000
1.664
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
7.00
30.90
45.37
2.82
31.80
117.90
2
7.40
30.90
41.43
2.76
31.80
114.29
3
7.82
30.90
37.48
2.69
31.80
110.70
4
8.27
30.90
33.54
2.62
31.80
107.13
5
8.74
30.90
29.59
2.56
31.80
103.60
6
9.24
30.90
25.65
2.50
31.80
100.09
7
9.77
30.90
21.70
2.44
31.80
96.61
8
10.33
30.90
17.76
2.38
31.80
93.17
9
10.92
30.90
13.81
2.32
31.80
89.76
10
11.55
30.90
9.86
2.27
31.80
86.38
11
12.21
30.90
5.92
2.36
38.16
89.55
12
12.91
30.90
1.97
2.31
38.16
86.25
13
13.65
8.17
0.00
1.79
38.16
61.76
14
14.43
8.17
0.00
1.83
38.16
62.59
15
15.25
8.17
0.00
1.87
38.16
63.46
16
16.12
8.17
0.00
1.92
38.16
64.38
17
17.05
8.17
0.00
1.97
38.16
65.35
18
18.02
8.17
0.00
2.02
38.16
66.38
19
19.05
8.17
0.00
2.08
38.16
67.46
20
20.14
8.17
0.00
2.14
38.16
68.61
21
21.29
8.17
0.00
2.20
38.16
69.83
22
22.51
8.17
0.00
2.27
38.16
71.11
23
23.80
8.17
0.00
2.34
38.16
72.47
24
25.16
8.17
0.00
2.41
38.16
73.90
25
26.60
8.17
0.00
2.49
38.16
75.42
Levellised COG
Per Unit Cost of Generation
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
O&M expn
Rs/kWh
0.67
0.42
0.44
0.47
0.50
0.53
0.56
0.59
0.62
0.66
0.69
0.73
0.78
0.82
0.87
0.92
0.97
1.02
1.08
1.14
1.21
1.28
1.35
1.43
1.51
1.60
Depreciation
Rs/kWh
1.54
1.86
1.86
1.86
1.86
1.86
1.86
1.86
1.86
1.86
1.86
1.86
1.86
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
0.49
Int. on term loan
Rs/kWh
1.30
2.73
2.49
2.25
2.02
1.78
1.54
1.30
1.07
0.83
0.59
0.36
0.12
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
Int. on working capital
Rs/kWh
0.15
0.17
0.17
0.16
0.16
0.15
0.15
0.15
0.14
0.14
0.14
0.14
0.14
0.11
0.11
0.11
0.12
0.12
0.12
0.13
0.13
0.13
0.14
0.14
0.14
0.15
RoE
Rs/kWh
2.03
1.91
1.91
1.91
1.91
1.91
1.91
1.91
1.91
1.91
1.91
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
2.29
5.68
7.08
6.87
6.65
6.44
6.22
6.01
5.80
5.60
5.39
5.19
5.38
5.18
3.71
3.76
3.81
3.87
3.93
3.99
4.05
4.12
4.20
4.27
4.35
4.44
4.53
Total COG
Unit
Rs/kWh
Levellised
Discount Factor
Fixed Cost
Levellised Tariff
5.68
5.68
Levellised
1
94.59
0.903
94.59
0.816
94.59
0.737
94.59
0.666
94.59
0.602
94.59
0.543
94.59
0.491
94.59
0.444
94.59
0.401
94.59
0.362
94.59
0.327
94.59
0.295
94.59
0.267
94.59
0.241
94.59
0.218
94.59
0.197
94.59
0.178
94.59
0.161
94.59
0.145
94.59
0.131
94.59
0.118
94.59
0.107
94.59
0.097
94.59
0.087
94.59
Rs/Unit
Determination of Accelerated Depreciation Benefit for Solar PV Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
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
Levellised benefit
90%
5.28%
80%
20.00%
33.990%
530.0
Unit
Rs Lakh
1
2.64%
13.99
2
5.28%
27.99
3
5.28%
27.99
4
5.28%
27.99
5
5.28%
27.99
6
5.28%
27.99
7
5.28%
27.99
8
5.28%
27.99
9
5.28%
27.99
10
5.28%
27.99
11
5.28%
27.99
12
5.28%
27.99
13
5.28%
27.99
14
5.28%
27.99
15
5.28%
27.99
16
5.28%
27.99
17
5.28%
27.99
18
2.88%
15.26
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
100.00%
50%
50%
265.01
50.00%
45.00%
5%
238.51
5.00%
4.00%
1.00%
21.20
1.00%
0.80%
0.20%
4.24
0.20%
0.16%
0.04%
0.85
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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%
0.00%
0.00%
0.00
0%
0.00%
0.00%
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
251.02
85.32
0.83
1.00
210.52
71.56
1.66
0.95
0.95
-6.78
-2.31
1.66
0.86
0.86
-23.74
-8.07
1.66
0.78
0.78
-27.14
-9.22
1.66
0.70
0.70
-27.82
-9.45
1.66
0.63
0.63
-27.95
-9.50
1.66
0.57
0.57
-27.98
-9.51
1.66
0.52
0.52
-27.98
-9.51
1.66
0.47
0.47
-27.98
-9.51
1.66
0.42
0.42
-27.99
-9.51
1.66
0.38
0.38
-27.99
-9.51
1.66
0.34
0.34
-27.99
-9.51
1.66
0.31
0.31
-27.99
-9.51
1.66
0.28
0.28
-27.99
-9.51
1.66
0.25
0.25
-27.99
-9.51
1.66
0.23
0.23
-27.99
-9.51
1.66
0.21
0.21
-15.26
-5.19
1.66
0.19
0.19
0.00
0.00
1.66
0.17
0.17
0.00
0.00
1.66
0.15
0.15
0.00
0.00
1.66
0.14
0.00
0.00
1.66
0.12
0.00
0.00
1.66
0.11
0.00
0.00
1.66
0.10
0.00
0.00
1.66
0.09
0.59
Rs/Unit
4
224
Annexure 6 A
Solar Thermal Power projects
Assumptions for Solar Thermal Power Projects Parameters
S. No.
1
Assumption Head
Power Generation
Sub-Head
Annexure-6A
Sub-Head (2)
Unit
Assumptions
Capacity
1
23.0%
10.0%
25
Installed Power Generation Capacity
Capacity Utilization Factor
Auxiliary Consumption Factor
Useful Life
MW
%
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
840
360
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
840.00
0
12
12.76%
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
%
%
360.00
20.00%
10
24.00%
22.40%
10.70%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 12 years
Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
2 Project Cost
Capital Cost/MW
1200.00
3 Sources of Fund
25
Debt: Equity
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
33.990%
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
%
Months
%
1
15%
2
13.26%
6 Operation & Maintenance
O&M Expenses (2016-17)
O & M Expenses Escalation
O&M Expenses (2012-13)
Rs Lacs
%
Rs Lacs
18.74
5.72%
15.00
225
Determination of Tariff Component - (Solar Thermal) 1
Discount Factor
Units Generation
Unit
Installed Capacity
Net Generation
MW
MU
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Unit
Year--->
Year--->
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
0.903
0.816
0.737
0.666
0.602
0.543
0.491
0.444
0.401
0.362
0.327
0.295
0.267
0.241
0.218
0.197
0.178
0.161
0.145
0.131
0.118
0.107
0.097
0.087
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
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
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
18.74
69.96
102.73
6.55
72.00
19.81
69.96
93.80
6.40
72.00
20.94
69.96
84.87
6.26
72.00
22.14
69.96
75.93
6.13
72.00
23.41
69.96
67.00
5.99
72.00
24.75
69.96
58.07
5.86
72.00
26.16
69.96
49.13
5.74
72.00
27.66
69.96
40.20
5.62
72.00
29.24
69.96
31.27
5.50
72.00
30.91
69.96
22.33
5.39
72.00
32.68
69.96
13.40
5.61
86.40
34.55
69.96
4.47
5.51
86.40
36.53
18.50
0.00
4.35
86.40
38.62
18.50
0.00
4.47
86.40
40.82
18.50
0.00
4.59
86.40
43.16
18.50
0.00
4.71
86.40
45.63
18.50
0.00
4.85
86.40
48.24
18.50
0.00
4.99
86.40
51.00
18.50
0.00
5.14
86.40
53.91
18.50
0.00
5.30
86.40
57.00
18.50
0.00
5.46
86.40
60.26
18.50
0.00
5.64
86.40
63.71
18.50
0.00
5.83
86.40
67.35
18.50
0.00
6.02
86.40
71.20
18.50
0.00
6.23
86.40
269.98
261.97
254.03
246.16
238.36
230.64
222.99
215.43
207.97
200.60
208.05
200.89
145.78
147.98
150.31
152.77
155.37
158.12
161.03
164.11
167.36
170.80
174.43
178.27
182.33
Levellised COG
Unit
Levellised
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
O&M expn
Rs/kWh
1.65
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
3.32
3.51
3.71
3.93
Depreciation
Rs/kWh
3.19
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
Int. on term loan
Rs/kWh
2.71
5.67
5.17
4.68
4.19
3.69
3.20
2.71
2.22
1.72
1.23
0.74
0.25
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
Int. on working capital
Rs/kWh
0.32
0.36
0.35
0.35
0.34
0.33
0.32
0.32
0.31
0.30
0.30
0.31
0.30
0.24
0.25
0.25
0.26
0.27
0.28
0.28
0.29
0.30
0.31
0.32
0.33
0.34
Rs/kWh
Rs/kWh
Levellised
4.21
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
12.08
14.89
14.45
14.01
13.58
13.14
12.72
12.30
11.88
11.47
11.06
11.47
11.08
8.04
8.16
8.29
8.42
8.57
8.72
8.88
9.05
9.23
9.42
9.62
9.83
10.06
Per Unit Cost of Generation
RoE
Total COG
Levellised Tariff
12.08
Rs/Unit
Determination of Accelerated Depreciation Benefit for Solar Thermal Power Projects
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
1200.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
31.68
2
5.28%
63.36
3
5.28%
63.36
4
5.28%
63.36
5
5.28%
63.36
6
5.28%
63.36
7
5.28%
63.36
8
5.28%
63.36
9
5.28%
63.36
10
5.28%
63.36
11
5.28%
63.36
12
5.28%
63.36
13
5.28%
63.36
14
5.28%
63.36
15
5.28%
63.36
16
5.28%
63.36
17
5.28%
63.36
18
2.88%
34.56
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
100.00%
50.00%
50.00%
600.00
50.00%
45.00%
5.00%
540.00
5.00%
4.00%
1.00%
48.00
1.00%
0.80%
0.20%
9.60
0.20%
0.16%
0.04%
1.92
0.04%
0.03%
0.01%
0.38
0.01%
0.01%
0.00%
0.08
0.002%
0.001%
0.000%
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%
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%
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
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
568.32
193.17
0.91
1.00
476.64
162.01
1.81
0.95
-15.36
-5.22
1.81
0.86
-53.76
-18.27
1.81
0.78
-61.44
-20.88
1.81
0.70
-62.98
-21.41
1.81
0.63
-63.28
-21.51
1.81
0.57
-63.34
-21.53
1.81
0.52
-63.36
-21.54
1.81
0.47
-63.36
-21.54
1.81
0.42
-63.36
-21.54
1.81
0.38
-63.36
-21.54
1.81
0.34
-63.36
-21.54
1.81
0.31
-63.36
-21.54
1.81
0.28
-63.36
-21.54
1.81
0.25
-63.36
-21.54
1.81
0.23
-63.36
-21.54
1.81
0.21
-34.56
-11.75
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
0.12
0.00
0.00
1.81
0.11
0.00
0.00
1.81
0.10
0.00
0.00
1.81
0.09
Net Depreciation Benefit
Tax Benefit
Energy generation
Discounting Factor
Levellised benefit
1.24
Rs/Unit
226
Annexure 7 A
Biomass Gassifier Power Projects
Select State
AP
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE
Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
% p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
2807.74
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
227
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
5.50
1.11
0.34
0.29
0.46
0.42
8.11
Year -->
1
1
7.45
0.74
6.70
1
261.33
1
49.97
25.82
37.91
22.47
26.57
162.74
2.43
2
1
7.45
0.74
6.70
2
274.40
2
52.83
25.82
34.62
23.44
26.57
163.27
2.44
3
1
7.45
0.74
6.70
3
288.12
3
55.85
25.82
31.32
24.46
26.57
164.01
2.45
4
1
7.45
0.74
6.70
4
302.52
4
59.04
25.82
28.02
25.53
26.57
164.99
2.46
5
1
7.45
0.74
6.70
5
317.65
5
62.42
25.82
24.73
26.67
26.57
166.20
2.48
6
1
7.45
0.74
6.70
6
333.53
6
65.99
25.82
21.43
27.86
26.57
167.67
2.50
7
1
7.45
0.74
6.70
7
350.21
7
69.76
25.82
18.13
29.12
26.57
169.41
2.53
8
1
7.45
0.74
6.70
8
367.72
8
73.75
25.82
14.84
30.45
26.57
171.43
2.56
9
1
7.45
0.74
6.70
9
386.10
9
77.97
25.82
11.54
31.86
26.57
173.76
2.59
10
1
7.45
0.74
6.70
10
405.41
10
82.43
25.82
8.24
33.33
26.57
176.40
2.63
11
1
7.45
0.74
6.70
11
425.68
11
87.15
25.82
4.95
35.01
31.89
184.81
2.76
12
1
7.45
0.74
6.70
12
446.96
12
92.13
25.82
1.65
36.65
31.89
188.13
2.81
13
1
7.45
0.74
6.70
13
469.31
13
97.40
11.09
0.00
38.08
31.89
178.46
2.66
14
1
7.45
0.74
6.70
14
492.78
14
102.97
11.09
0.00
39.97
31.89
185.93
2.77
15
1
7.45
0.74
6.70
15
517.42
15
108.87
11.09
0.00
41.96
31.89
193.81
2.89
16
1
7.45
0.74
6.70
16
543.29
16
115.09
11.09
0.00
44.05
31.89
202.13
3.02
17
1
7.45
0.74
6.70
17
570.45
17
121.68
11.09
0.00
46.25
31.89
210.91
3.15
18
1
7.45
0.74
6.70
18
598.97
18
128.64
11.09
0.00
48.56
31.89
220.18
3.29
19
1
7.45
0.74
6.70
19
628.92
19
135.99
11.09
0.00
50.99
31.89
229.97
3.43
20
1
7.45
0.74
6.70
20
660.37
20
143.77
11.09
0.00
53.55
31.89
240.30
3.59
1
3.90
0.75
0.39
0.57
0.34
0.40
6.33
2
4.09
0.79
0.39
0.52
0.35
0.40
6.53
3
4.30
0.83
0.39
0.47
0.36
0.40
6.75
4
4.51
0.88
0.39
0.42
0.38
0.40
6.98
5
4.74
0.93
0.39
0.37
0.40
0.40
7.22
6
4.98
0.98
0.39
0.32
0.42
0.40
7.48
7
5.23
1.04
0.39
0.27
0.43
0.40
7.75
8
5.49
1.10
0.39
0.22
0.45
0.40
8.05
9
5.76
1.16
0.39
0.17
0.48
0.40
8.35
10
6.05
1.23
0.39
0.12
0.50
0.40
8.68
11
6.35
1.30
0.39
0.07
0.52
0.48
9.11
12
6.67
1.37
0.39
0.02
0.55
0.48
9.48
13
7.00
1.45
0.17
0.00
0.57
0.48
9.67
14
7.35
1.54
0.17
0.00
0.60
0.48
10.13
15
7.72
1.62
0.17
0.00
0.63
0.48
10.61
16
8.11
1.72
0.17
0.00
0.66
0.48
11.12
17
8.51
1.82
0.17
0.00
0.69
0.48
11.66
18
8.94
1.92
0.17
0.00
0.72
0.48
12.22
19
9.38
2.03
0.17
0.00
0.76
0.48
12.82
20
9.85
2.15
0.17
0.00
0.80
0.48
13.44
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
3.90 Rs/Kwh
2.61 Rs/Kwh
6.51 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
228
Annexure 7 B
Select State
Harayana
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
%
p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
3195.86
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
229
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
6.26
1.11
0.34
0.29
0.51
0.42
8.92
Year -->
1
1
7.45
0.74
6.70
1
297.45
1
49.97
25.82
37.91
24.92
26.57
165.19
2.47
2
1
7.45
0.74
6.70
2
312.33
2
52.83
25.82
34.62
26.01
26.57
165.84
2.47
3
1
7.45
0.74
6.70
3
327.94
3
55.85
25.82
31.32
27.16
26.57
166.72
2.49
4
1
7.45
0.74
6.70
4
344.34
4
59.04
25.82
28.02
28.37
26.57
167.82
2.50
5
1
7.45
0.74
6.70
5
361.56
5
62.42
25.82
24.73
29.65
26.57
169.18
2.52
6
1
7.45
0.74
6.70
6
379.64
6
65.99
25.82
21.43
30.99
26.57
170.80
2.55
7
1
7.45
0.74
6.70
7
398.62
7
69.76
25.82
18.13
32.41
26.57
172.69
2.58
8
1
7.45
0.74
6.70
8
418.55
8
73.75
25.82
14.84
33.90
26.57
174.88
2.61
9
1
7.45
0.74
6.70
9
439.48
9
77.97
25.82
11.54
35.47
26.57
177.38
2.65
10
1
7.45
0.74
6.70
10
461.45
10
82.43
25.82
8.24
37.13
26.57
180.20
2.69
11
1
7.45
0.74
6.70
11
484.52
11
87.15
25.82
4.95
39.00
31.89
188.80
2.82
12
1
7.45
0.74
6.70
12
508.75
12
92.13
25.82
1.65
40.84
31.89
192.32
2.87
13
1
7.45
0.74
6.70
13
534.19
13
97.40
11.09
0.00
42.48
31.89
182.86
2.73
14
1
7.45
0.74
6.70
14
560.89
14
102.97
11.09
0.00
44.59
31.89
190.54
2.84
15
1
7.45
0.74
6.70
15
588.94
15
108.87
11.09
0.00
46.81
31.89
198.66
2.96
16
1
7.45
0.74
6.70
16
618.39
16
115.09
11.09
0.00
49.15
31.89
207.22
3.09
17
1
7.45
0.74
6.70
17
649.31
17
121.68
11.09
0.00
51.60
31.89
216.25
3.23
18
1
7.45
0.74
6.70
18
681.77
18
128.64
11.09
0.00
54.18
31.89
225.79
3.37
19
1
7.45
0.74
6.70
19
715.86
19
135.99
11.09
0.00
56.89
31.89
235.86
3.52
20
1
7.45
0.74
6.70
20
751.65
20
143.77
11.09
0.00
59.74
31.89
246.49
3.68
1
4.44
0.75
0.39
0.57
0.37
0.40
6.90
2
4.66
0.79
0.39
0.52
0.39
0.40
7.14
3
4.89
0.83
0.39
0.47
0.41
0.40
7.38
4
5.14
0.88
0.39
0.42
0.42
0.40
7.64
5
5.40
0.93
0.39
0.37
0.44
0.40
7.92
6
5.67
0.98
0.39
0.32
0.46
0.40
8.21
7
5.95
1.04
0.39
0.27
0.48
0.40
8.53
8
6.25
1.10
0.39
0.22
0.51
0.40
8.86
9
6.56
1.16
0.39
0.17
0.53
0.40
9.20
10
6.89
1.23
0.39
0.12
0.55
0.40
9.57
11
7.23
1.30
0.39
0.07
0.58
0.48
10.05
12
7.59
1.37
0.39
0.02
0.61
0.48
10.46
13
7.97
1.45
0.17
0.00
0.63
0.48
10.70
14
8.37
1.54
0.17
0.00
0.67
0.48
11.21
15
8.79
1.62
0.17
0.00
0.70
0.48
11.75
16
9.23
1.72
0.17
0.00
0.73
0.48
12.32
17
9.69
1.82
0.17
0.00
0.77
0.48
12.92
18
10.17
1.92
0.17
0.00
0.81
0.48
13.54
19
10.68
2.03
0.17
0.00
0.85
0.48
14.20
20
11.22
2.15
0.17
0.00
0.89
0.48
14.89
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
4.44 Rs/Kwh
2.67 Rs/Kwh
7.10 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
230
Annexure 7 C
Select State
Maharashtra
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
%
p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
3268.62
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
231
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
6.40
1.11
0.34
0.29
0.52
0.42
9.07
Year -->
1
1
7.45
0.74
6.70
1
304.23
1
49.97
25.82
37.91
25.38
26.57
165.65
2.47
2
1
7.45
0.74
6.70
2
319.44
2
52.83
25.82
34.62
26.49
26.57
166.32
2.48
3
1
7.45
0.74
6.70
3
335.41
3
55.85
25.82
31.32
27.66
26.57
167.22
2.50
4
1
7.45
0.74
6.70
4
352.18
4
59.04
25.82
28.02
28.90
26.57
168.36
2.51
5
1
7.45
0.74
6.70
5
369.79
5
62.42
25.82
24.73
30.20
26.57
169.74
2.53
6
1
7.45
0.74
6.70
6
388.28
6
65.99
25.82
21.43
31.58
26.57
171.38
2.56
7
1
7.45
0.74
6.70
7
407.69
7
69.76
25.82
18.13
33.02
26.57
173.31
2.59
8
1
7.45
0.74
6.70
8
428.08
8
73.75
25.82
14.84
34.55
26.57
175.53
2.62
9
1
7.45
0.74
6.70
9
449.48
9
77.97
25.82
11.54
36.15
26.57
178.05
2.66
10
1
7.45
0.74
6.70
10
471.96
10
82.43
25.82
8.24
37.84
26.57
180.91
2.70
11
1
7.45
0.74
6.70
11
495.55
11
87.15
25.82
4.95
39.75
31.89
189.54
2.83
12
1
7.45
0.74
6.70
12
520.33
12
92.13
25.82
1.65
41.62
31.89
193.11
2.88
13
1
7.45
0.74
6.70
13
546.35
13
97.40
11.09
0.00
43.30
31.89
183.68
2.74
14
1
7.45
0.74
6.70
14
573.67
14
102.97
11.09
0.00
45.46
31.89
191.41
2.86
15
1
7.45
0.74
6.70
15
602.35
15
108.87
11.09
0.00
47.72
31.89
199.56
2.98
16
1
7.45
0.74
6.70
16
632.47
16
115.09
11.09
0.00
50.10
31.89
208.17
3.11
17
1
7.45
0.74
6.70
17
664.09
17
121.68
11.09
0.00
52.60
31.89
217.26
3.24
18
1
7.45
0.74
6.70
18
697.29
18
128.64
11.09
0.00
55.23
31.89
226.85
3.39
19
1
7.45
0.74
6.70
19
732.16
19
135.99
11.09
0.00
57.99
31.89
236.97
3.54
20
1
7.45
0.74
6.70
20
768.77
20
143.77
11.09
0.00
60.90
31.89
247.65
3.70
1
4.54
0.75
0.39
0.57
0.38
0.40
7.01
2
4.77
0.79
0.39
0.52
0.40
0.40
7.25
3
5.01
0.83
0.39
0.47
0.41
0.40
7.50
4
5.26
0.88
0.39
0.42
0.43
0.40
7.77
5
5.52
0.93
0.39
0.37
0.45
0.40
8.05
6
5.79
0.98
0.39
0.32
0.47
0.40
8.35
7
6.08
1.04
0.39
0.27
0.49
0.40
8.67
8
6.39
1.10
0.39
0.22
0.52
0.40
9.01
9
6.71
1.16
0.39
0.17
0.54
0.40
9.36
10
7.04
1.23
0.39
0.12
0.56
0.40
9.74
11
7.39
1.30
0.39
0.07
0.59
0.48
10.22
12
7.76
1.37
0.39
0.02
0.62
0.48
10.65
13
8.15
1.45
0.17
0.00
0.65
0.48
10.89
14
8.56
1.54
0.17
0.00
0.68
0.48
11.42
15
8.99
1.62
0.17
0.00
0.71
0.48
11.97
16
9.44
1.72
0.17
0.00
0.75
0.48
12.54
17
9.91
1.82
0.17
0.00
0.78
0.48
13.15
18
10.41
1.92
0.17
0.00
0.82
0.48
13.79
19
10.93
2.03
0.17
0.00
0.87
0.48
14.46
20
11.47
2.15
0.17
0.00
0.91
0.48
15.17
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
4.54 Rs/Kwh
2.67 Rs/Kwh
7.21 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
232
Annexure 7 D
Select State
Punjab
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
%
p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
3342.60
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
233
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
6.54
1.11
0.34
0.29
0.53
0.42
9.23
Year -->
1
1
7.45
0.74
6.70
1
311.11
1
49.97
25.82
37.91
25.85
26.57
166.12
2.48
2
1
7.45
0.74
6.70
2
326.67
2
52.83
25.82
34.62
26.98
26.57
166.81
2.49
3
1
7.45
0.74
6.70
3
343.00
3
55.85
25.82
31.32
28.18
26.57
167.74
2.50
4
1
7.45
0.74
6.70
4
360.15
4
59.04
25.82
28.02
29.44
26.57
168.90
2.52
5
1
7.45
0.74
6.70
5
378.16
5
62.42
25.82
24.73
30.77
26.57
170.31
2.54
6
1
7.45
0.74
6.70
6
397.07
6
65.99
25.82
21.43
32.17
26.57
171.98
2.57
7
1
7.45
0.74
6.70
7
416.92
7
69.76
25.82
18.13
33.65
26.57
173.93
2.60
8
1
7.45
0.74
6.70
8
437.77
8
73.75
25.82
14.84
35.20
26.57
176.18
2.63
9
1
7.45
0.74
6.70
9
459.65
9
77.97
25.82
11.54
36.84
26.57
178.74
2.67
10
1
7.45
0.74
6.70
10
482.64
10
82.43
25.82
8.24
38.57
26.57
181.63
2.71
11
1
7.45
0.74
6.70
11
506.77
11
87.15
25.82
4.95
40.51
31.89
190.30
2.84
12
1
7.45
0.74
6.70
12
532.11
12
92.13
25.82
1.65
42.42
31.89
193.91
2.89
13
1
7.45
0.74
6.70
13
558.71
13
97.40
11.09
0.00
44.14
31.89
184.52
2.75
14
1
7.45
0.74
6.70
14
586.65
14
102.97
11.09
0.00
46.34
31.89
192.29
2.87
15
1
7.45
0.74
6.70
15
615.98
15
108.87
11.09
0.00
48.64
31.89
200.49
2.99
16
1
7.45
0.74
6.70
16
646.78
16
115.09
11.09
0.00
51.07
31.89
209.14
3.12
17
1
7.45
0.74
6.70
17
679.12
17
121.68
11.09
0.00
53.62
31.89
218.28
3.26
18
1
7.45
0.74
6.70
18
713.08
18
128.64
11.09
0.00
56.30
31.89
227.92
3.40
19
1
7.45
0.74
6.70
19
748.73
19
135.99
11.09
0.00
59.12
31.89
238.09
3.55
20
1
7.45
0.74
6.70
20
786.17
20
143.77
11.09
0.00
62.08
31.89
248.83
3.71
1
4.64
0.75
0.39
0.57
0.39
0.40
7.12
2
4.87
0.79
0.39
0.52
0.40
0.40
7.36
3
5.12
0.83
0.39
0.47
0.42
0.40
7.62
4
5.37
0.88
0.39
0.42
0.44
0.40
7.89
5
5.64
0.93
0.39
0.37
0.46
0.40
8.18
6
5.93
0.98
0.39
0.32
0.48
0.40
8.49
7
6.22
1.04
0.39
0.27
0.50
0.40
8.82
8
6.53
1.10
0.39
0.22
0.53
0.40
9.16
9
6.86
1.16
0.39
0.17
0.55
0.40
9.53
10
7.20
1.23
0.39
0.12
0.58
0.40
9.91
11
7.56
1.30
0.39
0.07
0.60
0.48
10.40
12
7.94
1.37
0.39
0.02
0.63
0.48
10.83
13
8.34
1.45
0.17
0.00
0.66
0.48
11.09
14
8.75
1.54
0.17
0.00
0.69
0.48
11.62
15
9.19
1.62
0.17
0.00
0.73
0.48
12.18
16
9.65
1.72
0.17
0.00
0.76
0.48
12.77
17
10.13
1.82
0.17
0.00
0.80
0.48
13.39
18
10.64
1.92
0.17
0.00
0.84
0.48
14.04
19
11.17
2.03
0.17
0.00
0.88
0.48
14.73
20
11.73
2.15
0.17
0.00
0.93
0.48
15.44
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
4.64 Rs/Kwh
2.68 Rs/Kwh
7.33 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
234
Annexure7 E
Select State
Rajasthan
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
%
p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
2789.54
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
235
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
5.46
1.11
0.34
0.29
0.45
0.42
8.07
Year -->
1
1
7.45
0.74
6.70
1
259.64
1
49.97
25.82
37.91
22.36
26.57
162.63
2.43
2
1
7.45
0.74
6.70
2
272.62
2
52.83
25.82
34.62
23.32
26.57
163.15
2.43
3
1
7.45
0.74
6.70
3
286.25
3
55.85
25.82
31.32
24.33
26.57
163.89
2.45
4
1
7.45
0.74
6.70
4
300.56
4
59.04
25.82
28.02
25.40
26.57
164.86
2.46
5
1
7.45
0.74
6.70
5
315.59
5
62.42
25.82
24.73
26.53
26.57
166.06
2.48
6
1
7.45
0.74
6.70
6
331.37
6
65.99
25.82
21.43
27.72
26.57
167.53
2.50
7
1
7.45
0.74
6.70
7
347.94
7
69.76
25.82
18.13
28.97
26.57
169.26
2.53
8
1
7.45
0.74
6.70
8
365.33
8
73.75
25.82
14.84
30.29
26.57
171.27
2.56
9
1
7.45
0.74
6.70
9
383.60
9
77.97
25.82
11.54
31.69
26.57
173.59
2.59
10
1
7.45
0.74
6.70
10
402.78
10
82.43
25.82
8.24
33.15
26.57
176.22
2.63
11
1
7.45
0.74
6.70
11
422.92
11
87.15
25.82
4.95
34.82
31.89
184.62
2.75
12
1
7.45
0.74
6.70
12
444.07
12
92.13
25.82
1.65
36.45
31.89
187.94
2.80
13
1
7.45
0.74
6.70
13
466.27
13
97.40
11.09
0.00
37.87
31.89
178.25
2.66
14
1
7.45
0.74
6.70
14
489.58
14
102.97
11.09
0.00
39.75
31.89
185.71
2.77
15
1
7.45
0.74
6.70
15
514.06
15
108.87
11.09
0.00
41.73
31.89
193.58
2.89
16
1
7.45
0.74
6.70
16
539.77
16
115.09
11.09
0.00
43.81
31.89
201.89
3.01
17
1
7.45
0.74
6.70
17
566.75
17
121.68
11.09
0.00
46.00
31.89
210.66
3.14
18
1
7.45
0.74
6.70
18
595.09
18
128.64
11.09
0.00
48.30
31.89
219.92
3.28
19
1
7.45
0.74
6.70
19
624.85
19
135.99
11.09
0.00
50.72
31.89
229.69
3.43
20
1
7.45
0.74
6.70
20
656.09
20
143.77
11.09
0.00
53.26
31.89
240.01
3.58
1
3.87
0.75
0.39
0.57
0.33
0.40
6.30
2
4.07
0.79
0.39
0.52
0.35
0.40
6.50
3
4.27
0.83
0.39
0.47
0.36
0.40
6.72
4
4.49
0.88
0.39
0.42
0.38
0.40
6.95
5
4.71
0.93
0.39
0.37
0.40
0.40
7.19
6
4.94
0.98
0.39
0.32
0.41
0.40
7.44
7
5.19
1.04
0.39
0.27
0.43
0.40
7.72
8
5.45
1.10
0.39
0.22
0.45
0.40
8.01
9
5.72
1.16
0.39
0.17
0.47
0.40
8.31
10
6.01
1.23
0.39
0.12
0.49
0.40
8.64
11
6.31
1.30
0.39
0.07
0.52
0.48
9.07
12
6.63
1.37
0.39
0.02
0.54
0.48
9.43
13
6.96
1.45
0.17
0.00
0.57
0.48
9.62
14
7.31
1.54
0.17
0.00
0.59
0.48
10.08
15
7.67
1.62
0.17
0.00
0.62
0.48
10.56
16
8.05
1.72
0.17
0.00
0.65
0.48
11.07
17
8.46
1.82
0.17
0.00
0.69
0.48
11.60
18
8.88
1.92
0.17
0.00
0.72
0.48
12.16
19
9.32
2.03
0.17
0.00
0.76
0.48
12.75
20
9.79
2.15
0.17
0.00
0.79
0.48
13.37
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
3.87 Rs/Kwh
2.61 Rs/Kwh
6.49 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
236
Annexure 7 F
Select State
TN
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
%
p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
2761.64
Kcal/kg
3300
5.00%
Rs Lacs
49.97
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
5.72%
40.00
237
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
5.41
1.11
0.34
0.29
0.45
0.42
8.01
Year -->
1
1
7.45
0.74
6.70
1
257.04
1
49.97
25.82
37.91
22.18
26.57
162.45
2.42
2
1
7.45
0.74
6.70
2
269.89
2
52.83
25.82
34.62
23.13
26.57
162.96
2.43
3
1
7.45
0.74
6.70
3
283.39
3
55.85
25.82
31.32
24.14
26.57
163.69
2.44
4
1
7.45
0.74
6.70
4
297.56
4
59.04
25.82
28.02
25.20
26.57
164.65
2.46
5
1
7.45
0.74
6.70
5
312.43
5
62.42
25.82
24.73
26.31
26.57
165.85
2.47
6
1
7.45
0.74
6.70
6
328.06
6
65.99
25.82
21.43
27.49
26.57
167.30
2.50
7
1
7.45
0.74
6.70
7
344.46
7
69.76
25.82
18.13
28.74
26.57
169.02
2.52
8
1
7.45
0.74
6.70
8
361.68
8
73.75
25.82
14.84
30.04
26.57
171.03
2.55
9
1
7.45
0.74
6.70
9
379.76
9
77.97
25.82
11.54
31.43
26.57
173.33
2.59
10
1
7.45
0.74
6.70
10
398.75
10
82.43
25.82
8.24
32.88
26.57
175.95
2.63
11
1
7.45
0.74
6.70
11
418.69
11
87.15
25.82
4.95
34.53
31.89
184.33
2.75
12
1
7.45
0.74
6.70
12
439.63
12
92.13
25.82
1.65
36.15
31.89
187.64
2.80
13
1
7.45
0.74
6.70
13
461.61
13
97.40
11.09
0.00
37.56
31.89
177.94
2.66
14
1
7.45
0.74
6.70
14
484.69
14
102.97
11.09
0.00
39.42
31.89
185.38
2.77
15
1
7.45
0.74
6.70
15
508.92
15
108.87
11.09
0.00
41.39
31.89
193.23
2.88
16
1
7.45
0.74
6.70
16
534.37
16
115.09
11.09
0.00
43.45
31.89
201.52
3.01
17
1
7.45
0.74
6.70
17
561.09
17
121.68
11.09
0.00
45.62
31.89
210.27
3.14
18
1
7.45
0.74
6.70
18
589.14
18
128.64
11.09
0.00
47.90
31.89
219.51
3.28
19
1
7.45
0.74
6.70
19
618.60
19
135.99
11.09
0.00
50.29
31.89
229.27
3.42
20
1
7.45
0.74
6.70
20
649.53
20
143.77
11.09
0.00
52.81
31.89
239.56
3.57
1
3.84
0.75
0.39
0.57
0.33
0.40
6.26
2
4.03
0.79
0.39
0.52
0.35
0.40
6.46
3
4.23
0.83
0.39
0.47
0.36
0.40
6.67
4
4.44
0.88
0.39
0.42
0.38
0.40
6.90
5
4.66
0.93
0.39
0.37
0.39
0.40
7.14
6
4.90
0.98
0.39
0.32
0.41
0.40
7.39
7
5.14
1.04
0.39
0.27
0.43
0.40
7.66
8
5.40
1.10
0.39
0.22
0.45
0.40
7.95
9
5.67
1.16
0.39
0.17
0.47
0.40
8.25
10
5.95
1.23
0.39
0.12
0.49
0.40
8.58
11
6.25
1.30
0.39
0.07
0.52
0.48
9.00
12
6.56
1.37
0.39
0.02
0.54
0.48
9.36
13
6.89
1.45
0.17
0.00
0.56
0.48
9.54
14
7.23
1.54
0.17
0.00
0.59
0.48
10.00
15
7.59
1.62
0.17
0.00
0.62
0.48
10.48
16
7.97
1.72
0.17
0.00
0.65
0.48
10.98
17
8.37
1.82
0.17
0.00
0.68
0.48
11.51
18
8.79
1.92
0.17
0.00
0.71
0.48
12.07
19
9.23
2.03
0.17
0.00
0.75
0.48
12.65
20
9.69
2.15
0.17
0.00
0.79
0.48
13.27
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
3.84 Rs/Kwh
2.61 Rs/Kwh
6.44 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
238
Annexure 7 G
Select State
UP
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE
Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
% p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
2856.25
Kcal/kg
Rs Lacs
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
3300
5.00%
49.97
5.72%
40.00
239
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
5.59
1.11
0.34
0.29
0.46
0.42
8.21
Year -->
1
1
7.45
0.74
6.70
1
265.85
1
49.97
25.82
37.91
22.78
26.57
163.05
2.43
2
1
7.45
0.74
6.70
2
279.14
2
52.83
25.82
34.62
23.76
26.57
163.59
2.44
3
1
7.45
0.74
6.70
3
293.09
3
55.85
25.82
31.32
24.80
26.57
164.35
2.45
4
1
7.45
0.74
6.70
4
307.75
4
59.04
25.82
28.02
25.89
26.57
165.34
2.47
5
1
7.45
0.74
6.70
5
323.14
5
62.42
25.82
24.73
27.04
26.57
166.57
2.49
6
1
7.45
0.74
6.70
6
339.29
6
65.99
25.82
21.43
28.25
26.57
168.06
2.51
7
1
7.45
0.74
6.70
7
356.26
7
69.76
25.82
18.13
29.54
26.57
169.82
2.53
8
1
7.45
0.74
6.70
8
374.07
8
73.75
25.82
14.84
30.88
26.57
171.87
2.56
9
1
7.45
0.74
6.70
9
392.77
9
77.97
25.82
11.54
32.31
26.57
174.21
2.60
10
1
7.45
0.74
6.70
10
412.41
10
82.43
25.82
8.24
33.81
26.57
176.87
2.64
11
1
7.45
0.74
6.70
11
433.03
11
87.15
25.82
4.95
35.51
31.89
185.30
2.77
12
1
7.45
0.74
6.70
12
454.69
12
92.13
25.82
1.65
37.17
31.89
188.66
2.82
13
1
7.45
0.74
6.70
13
477.42
13
97.40
11.09
0.00
38.63
31.89
179.01
2.67
14
1
7.45
0.74
6.70
14
501.29
14
102.97
11.09
0.00
40.55
31.89
186.50
2.78
15
1
7.45
0.74
6.70
15
526.36
15
108.87
11.09
0.00
42.57
31.89
194.41
2.90
16
1
7.45
0.74
6.70
16
552.67
16
115.09
11.09
0.00
44.69
31.89
202.76
3.03
17
1
7.45
0.74
6.70
17
580.31
17
121.68
11.09
0.00
46.92
31.89
211.58
3.16
18
1
7.45
0.74
6.70
18
609.32
18
128.64
11.09
0.00
49.27
31.89
220.88
3.30
19
1
7.45
0.74
6.70
19
639.79
19
135.99
11.09
0.00
51.73
31.89
230.70
3.44
20
1
7.45
0.74
6.70
20
671.78
20
143.77
11.09
0.00
54.32
31.89
241.07
3.60
1
3.97
0.75
0.39
0.57
0.34
0.40
6.40
2
4.17
0.79
0.39
0.52
0.35
0.40
6.61
3
4.37
0.83
0.39
0.47
0.37
0.40
6.83
4
4.59
0.88
0.39
0.42
0.39
0.40
7.06
5
4.82
0.93
0.39
0.37
0.40
0.40
7.31
6
5.06
0.98
0.39
0.32
0.42
0.40
7.57
7
5.32
1.04
0.39
0.27
0.44
0.40
7.85
8
5.58
1.10
0.39
0.22
0.46
0.40
8.15
9
5.86
1.16
0.39
0.17
0.48
0.40
8.46
10
6.15
1.23
0.39
0.12
0.50
0.40
8.79
11
6.46
1.30
0.39
0.07
0.53
0.48
9.23
12
6.78
1.37
0.39
0.02
0.55
0.48
9.60
13
7.12
1.45
0.17
0.00
0.58
0.48
9.80
14
7.48
1.54
0.17
0.00
0.61
0.48
10.26
15
7.85
1.62
0.17
0.00
0.64
0.48
10.76
16
8.25
1.72
0.17
0.00
0.67
0.48
11.27
17
8.66
1.82
0.17
0.00
0.70
0.48
11.82
18
9.09
1.92
0.17
0.00
0.74
0.48
12.39
19
9.55
2.03
0.17
0.00
0.77
0.48
12.99
20
10.02
2.15
0.17
0.00
0.81
0.48
13.62
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
3.97 Rs/Kwh
2.62 Rs/Kwh
6.59 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
240
Annexure 7 H
Select State
Others
Assumption for Biomass Gasifier Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
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
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
592.859
442.859
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
310.001
132.858
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
310.00
0
12
12.76%
Equity amount
Return
on Equity for first 10 years
RoE
Period
Return on Equity after 10 years
Weighted average of ROE
Discount Rate (equiv. to WACC)
Rs Lacs
% p.a
Year
132.86
20.00%
10.00
24.00%
22.00%
10.70%
Income Tax
%
33.990%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial AssumptionsEconomic Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
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
Heat Rate
After Stabilisation period
Specific Fuel Consumption
Biomass
Base Price
GCV - Biomass
Biomass Price Escalation Factor
7 Operation & Maintenance
O& M Expemses (2016-17)
Months
Months
1
15%
2
Months
%
Kcal/kwh
kg/kWh
4
13.26%
4125
1.25
Rs/T
3003.01
Kcal/kg
Rs Lacs
O & M Expenses Escalation
%
O& M Expemses (2012-13)
Rs Lacs
3300
5.00%
49.97
5.72%
40.00
241
Determination of Tariff Component: Biomass Gasifier Power Projects
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
Auxiliary Consumption
MU
Net Generation
MU
Vaiable Cost
Unit
Biomass Cost
Rs Lakh
Fixed Cost
Unit
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
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Variable Cost (FY 2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year--->
Year--->
Year--->
Levellised
5.88
1.11
0.34
0.29
0.48
0.42
8.52
Year -->
1
1
7.45
0.74
6.70
1
279.51
1
49.97
25.82
37.91
23.70
26.57
163.97
2.45
2
1
7.45
0.74
6.70
2
293.48
2
52.83
25.82
34.62
24.73
26.57
164.56
2.46
3
1
7.45
0.74
6.70
3
308.15
3
55.85
25.82
31.32
25.82
26.57
165.37
2.47
4
1
7.45
0.74
6.70
4
323.56
4
59.04
25.82
28.02
26.96
26.57
166.41
2.48
5
1
7.45
0.74
6.70
5
339.74
5
62.42
25.82
24.73
28.17
26.57
167.70
2.50
6
1
7.45
0.74
6.70
6
356.73
6
65.99
25.82
21.43
29.44
26.57
169.25
2.53
7
1
7.45
0.74
6.70
7
374.56
7
69.76
25.82
18.13
30.78
26.57
171.06
2.55
8
1
7.45
0.74
6.70
8
393.29
8
73.75
25.82
14.84
32.19
26.57
173.17
2.58
9
1
7.45
0.74
6.70
9
412.96
9
77.97
25.82
11.54
33.68
26.57
175.58
2.62
10
1
7.45
0.74
6.70
10
433.60
10
82.43
25.82
8.24
35.24
26.57
178.31
2.66
11
1
7.45
0.74
6.70
11
455.28
11
87.15
25.82
4.95
37.01
31.89
186.81
2.79
12
1
7.45
0.74
6.70
12
478.05
12
92.13
25.82
1.65
38.75
31.89
190.24
2.84
13
1
7.45
0.74
6.70
13
501.95
13
97.40
11.09
0.00
40.29
31.89
180.67
2.70
14
1
7.45
0.74
6.70
14
527.05
14
102.97
11.09
0.00
42.30
31.89
188.25
2.81
15
1
7.45
0.74
6.70
15
553.40
15
108.87
11.09
0.00
44.40
31.89
196.25
2.93
16
1
7.45
0.74
6.70
16
581.07
16
115.09
11.09
0.00
46.62
31.89
204.69
3.05
17
1
7.45
0.74
6.70
17
610.13
17
121.68
11.09
0.00
48.94
31.89
213.60
3.19
18
1
7.45
0.74
6.70
18
640.63
18
128.64
11.09
0.00
51.39
31.89
223.00
3.33
19
1
7.45
0.74
6.70
19
672.66
19
135.99
11.09
0.00
53.96
31.89
232.93
3.48
20
1
7.45
0.74
6.70
20
706.30
20
143.77
11.09
0.00
56.66
31.89
243.41
3.63
1
4.17
0.75
0.39
0.57
0.35
0.40
6.62
2
4.38
0.79
0.39
0.52
0.37
0.40
6.84
3
4.60
0.83
0.39
0.47
0.39
0.40
7.07
4
4.83
0.88
0.39
0.42
0.40
0.40
7.31
5
5.07
0.93
0.39
0.37
0.42
0.40
7.57
6
5.32
0.98
0.39
0.32
0.44
0.40
7.85
7
5.59
1.04
0.39
0.27
0.46
0.40
8.14
8
5.87
1.10
0.39
0.22
0.48
0.40
8.45
9
6.16
1.16
0.39
0.17
0.50
0.40
8.78
10
6.47
1.23
0.39
0.12
0.53
0.40
9.13
11
6.79
1.30
0.39
0.07
0.55
0.48
9.58
12
7.13
1.37
0.39
0.02
0.58
0.48
9.97
13
7.49
1.45
0.17
0.00
0.60
0.48
10.19
14
7.86
1.54
0.17
0.00
0.63
0.48
10.67
15
8.26
1.62
0.17
0.00
0.66
0.48
11.19
16
8.67
1.72
0.17
0.00
0.70
0.48
11.73
17
9.10
1.82
0.17
0.00
0.73
0.48
12.29
18
9.56
1.92
0.17
0.00
0.77
0.48
12.89
19
10.04
2.03
0.17
0.00
0.81
0.48
13.51
20
10.54
2.15
0.17
0.00
0.85
0.48
14.17
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
20
0.15
4.17 Rs/Kwh
2.64 Rs/Kwh
6.81 Rs/Kwh
Determination of Accelerated Depreciation for Biomass Gasifier Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
442.859
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.69
2
5.28%
23.38
3
5.28%
23.38
4
5.28%
23.38
5
5.28%
23.38
6
5.28%
23.38
7
5.28%
23.38
8
5.28%
23.38
9
5.28%
23.38
10
5.28%
23.38
11
5.28%
23.38
12
5.28%
23.38
13
5.28%
23.38
14
5.28%
23.38
15
5.28%
23.38
16
5.28%
23.38
17
5.28%
23.38
18
2.88%
12.75
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
221.43
50.00%
45.00%
5.00%
199.29
5.00%
4.00%
1.00%
17.71
1.00%
0.80%
0.20%
3.54
0.20%
0.16%
0.04%
0.71
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
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
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%
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
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
209.74
71.29
3.35
2.13
175.90
59.79
6.70
0.89
-5.67
-1.93
6.70
-0.03
-19.84
-6.74
6.70
-0.10
-22.67
-7.71
6.70
-0.12
-23.24
-7.90
6.70
-0.12
-23.35
-7.94
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-23.38
-7.95
6.70
-0.12
-12.75
-4.34
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00
(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting
Factor
Levellised Benefit
Levellised benefit
0.24
0.13
242
Annexure 8 A
Biogas Based Power Projects
Assumption for Biogas Based Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
3 Financial Assumptions
Debt: Equity
Installed Power Generation Capacity MW
Auxillary Consumption during stablisation
%
PLF
%
Useful Life
Years
Power Plant Cost (before subsidy)
Rs Lacs/MW
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
12%
90%
20
1185.764
885.764
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
620.035
265.729
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
620.04
0
12
12.76%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
265.73
20.00%
10.00
24.00%
Weighted average of ROE
Discount Rate (equiv. to WACC)
%
%
22.00%
10.70%
Income Tax
MAT Rate (for first 10 years)
%
%
33.990%
20.0%
Depreciation Rate(power plant)
Depreciation Rate 13th year onwards
Years for 5.83% depreciation rate
%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
4
Financial Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
6
For Fixed Charges
O&M Charges
Maintenance Spare
Receivables for Debtors
For Variable Charges
Biomass Stock
Interest On Working Capital
Fuel Related Assumptions
Months
Months
1
15%
2
Months
%
4
13.26%
Rs/T
kg/kWh
1200.72
3
5.00%
Rs Lacs
%
Rs Lacs
49.97
5.72%
40.00
(% of O&M exepenses)
Biomass
Fuel Price
Specific Fuel Consumption
Substrates Price Escalation Factor
7 Operation & Maintenance
O&M Expenses (2016-17)
Total O & M Expenses Escalation
O&M Expenses (2012-13)
243
Determination of Tariff Component: Biogas Based Power Projects
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
Vaiable Cost
Biomass Cost
Unit
Rs Lakh
Year--->
1
283.99
2
298.19
3
313.10
4
328.76
5
345.20
6
362.46
7
380.58
8
399.61
9
419.59
10
440.57
11
462.60
12
485.73
13
510.01
14
535.51
15
562.29
16
590.40
17
619.92
18
650.92
19
683.47
20
717.64
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
49.97
51.64
75.83
26.05
53.15
256.63
2
52.83
51.64
69.24
27.02
53.15
253.87
3
55.85
51.64
62.64
28.04
53.15
251.32
4
59.04
51.64
56.05
29.13
53.15
249.01
5
62.42
51.64
49.45
30.28
53.15
246.94
6
65.99
51.64
42.86
31.49
53.15
245.13
7
69.76
51.64
36.27
32.78
53.15
243.59
8
73.75
51.64
29.67
34.14
53.15
242.35
9
77.97
51.64
23.08
35.57
53.15
241.41
10
82.43
51.64
16.48
37.09
53.15
240.79
11
87.15
51.64
9.89
38.93
63.78
251.38
12
92.13
51.64
3.30
40.62
63.78
251.46
13
97.40
22.19
0.00
41.81
63.78
225.18
14
102.97
22.19
0.00
43.84
63.78
232.78
15
108.87
22.19
0.00
45.98
63.78
240.80
16
115.09
22.19
0.00
48.22
63.78
249.28
17
121.68
22.19
0.00
50.58
63.78
258.22
18
128.64
22.19
0.00
53.06
63.78
267.66
19
135.99
22.19
0.00
55.66
63.78
277.62
20
143.77
22.19
0.00
58.40
63.78
288.14
Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Levellised Tariff
Discount Factor
Variable Cost (FY2016-17)
Levellised Tariff (Fixed)
Applicable Tariff (FY2016-17)
Unit
Year -->
1
1
2
0.903
3
0.816
4
0.737
5
0.666
6
0.602
7
0.543
8
0.491
9
0.444
10
0.401
11
0.362
12
0.327
13
0.295
14
0.267
15
0.241
16
0.218
17
0.197
18
0.178
19
0.161
20
0.145
4.09 Rs/Kwh
3.59 Rs/Kwh
7.68 Rs/Kwh
Determination of Accelerated Depreciation for Biogas based Power Project
Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional depriciation
Income Tax (Normal Rates)
Capital Cost
90%
5.28%
80%
20.00%
33.990%
885.764
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
23.38
2
5.28%
46.77
3
5.28%
46.77
4
5.28%
46.77
5
5.28%
46.77
6
5.28%
46.77
7
5.28%
46.77
8
5.28%
46.77
9
5.28%
46.77
10
5.28%
46.77
11
5.28%
46.77
12
5.28%
46.77
13
5.28%
46.77
14
5.28%
46.77
15
5.28%
46.77
16
5.28%
46.77
17
5.28%
46.77
18
2.88%
25.51
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50.00%
442.88
50.00%
45.00%
5.00%
398.59
5.00%
4.00%
1.00%
35.43
1.00%
0.80%
0.20%
7.09
0.20%
0.16%
0.04%
1.42
0.04%
0.03%
0.01%
0.28
0.01%
0.01%
0.00%
0.06
0.00%
0.00%
0.00%
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
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%
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 Lakh
Rs Lakh
MU
Rs/Unit
419.50
142.59
3.47
4.11
3.60
351.83
119.59
6.94
1.72
3.42
-11.34
-3.85
6.94
-0.06
3.08
-39.68
-13.49
6.94
-0.19
2.78
-45.35
-15.41
6.94
-0.22
2.51
-46.48
-15.80
6.94
-0.23
2.26
-46.71
-15.88
6.94
-0.23
2.04
-46.76
-15.89
6.94
-0.23
1.83
-46.77
-15.90
6.94
-0.23
1.65
-46.77
-15.90
6.94
-0.23
1.49
-46.77
-15.90
6.94
-0.23
1.34
-46.77
-15.90
6.94
-0.23
1.21
-46.77
-15.90
6.94
-0.23
1.09
-46.77
-15.90
6.94
-0.23
0.98
-46.77
-15.90
6.94
-0.23
0.89
-46.77
-15.90
6.94
-0.23
0.80
-46.77
-15.90
6.94
-0.23
0.72
-25.51
-8.67
6.94
-0.12
0.65
0.00
0.00
6.94
0.00
0.59
0.00
0.00
6.94
0.00
0.53
Net Depreciation Benefit
Tax Benefit
Net Energy generation
Per unit benefit
Discounting Factor
Tax Benefit Levellised
Electricity Generation (Levellised)
Levellised benefit
17.05
6.56
0.26 (Rs/kWh)
244