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*****************
***CASE REPORT***
*****************
Simulation Metadata
----------------------
GEOPHIRES Version: 3.14.1
Simulation Date: 2026-06-18
Simulation Time: 10:42
Calculation Time: 1.929 sec
***SUMMARY OF RESULTS***
End-Use Option: Electricity
Average Net Electricity Production: 103.23 MW
Electricity breakeven price: 8.84 cents/kWh
Total CAPEX: 577.73 MUSD
Total CAPEX ($/kW): 5573 USD/kW
Number of production wells: 12
Number of injection wells: 8
Flowrate per production well: 100.0 kg/sec
Well depth: 2.7 kilometer
Segment 1 Geothermal gradient: 74 degC/km
Segment 1 Thickness: 2.5 kilometer
Segment 2 Geothermal gradient: 41 degC/km
Segment 2 Thickness: 0.5 kilometer
Segment 3 Geothermal gradient: 39.1 degC/km
***ECONOMIC PARAMETERS***
Economic Model = SAM Single Owner PPA
Real Discount Rate: 12.00 %
Nominal Discount Rate: 15.02 %
WACC: 8.57 %
Investment Tax Credit: 173.32 MUSD
Project lifetime: 30 yr
Capacity factor: 91.3 %
Project NPV: 39.46 MUSD
After-tax IRR: 20.66 %
Project VIR=PI=PIR: 1.24
Project MOIC: 3.74
Project Payback Period: 4.40 yr
Estimated Jobs Created: 255
***ENGINEERING PARAMETERS***
Number of Production Wells: 12
Number of Injection Wells: 8
Well depth: 2.7 kilometer
Water loss rate: 1.0 %
Pump efficiency: 80.0 %
Injection temperature: 56.6 degC
Production Wellbore heat transmission calculated with Ramey's model
Average production well temperature drop: 0.3 degC
Flowrate per production well: 100.0 kg/sec
Injection well casing ID: 8.535 in
Production well casing ID: 8.535 in
Number of times redrilling: 3
Power plant type: Supercritical ORC
***RESOURCE CHARACTERISTICS***
Maximum reservoir temperature: 500.0 degC
Number of segments: 3
Segment 1 Geothermal gradient: 74 degC/km
Segment 1 Thickness: 2.5 kilometer
Segment 2 Geothermal gradient: 41 degC/km
Segment 2 Thickness: 0.5 kilometer
Segment 3 Geothermal gradient: 39.1 degC/km
Project location: 38.506196, -112.918155
***RESERVOIR PARAMETERS***
Reservoir Model = Multiple Parallel Fractures Model (Gringarten)
Bottom-hole temperature: 205.38 degC
Fracture model = Rectangular
Well separation: fracture height: 100.00 meter
Fracture width: 305.00 meter
Fracture area: 30500.00 m**2
Reservoir volume calculated with fracture separation and number of fractures as input
Number of fractures: 3000
Fracture separation: 9.83 meter
Reservoir volume: 898733572 m**3
Reservoir hydrostatic pressure: 25324.54 kPa
Plant outlet pressure: 13789.51 kPa
Production wellhead pressure: 2089.11 kPa
Productivity Index: 1.13 kg/sec/bar
Injectivity Index: 1.38 kg/sec/bar
Reservoir density: 2800.00 kg/m**3
Reservoir thermal conductivity: 3.05 W/m/K
Reservoir heat capacity: 790.00 J/kg/K
***RESERVOIR SIMULATION RESULTS***
Maximum Production Temperature: 203.1 degC
Average Production Temperature: 202.8 degC
Minimum Production Temperature: 201.4 degC
Initial Production Temperature: 201.7 degC
Average Reservoir Heat Extraction: 734.37 MW
Production Wellbore Heat Transmission Model = Ramey Model
Average Production Well Temperature Drop: 0.3 degC
Average Injection Well Pump Pressure Drop: -1925.9 kPa
Average Production Well Pump Pressure Drop: 9514.6 kPa
***CAPITAL COSTS (M$)***
Exploration costs: 30.00 MUSD
Drilling and completion costs: 92.98 MUSD
Drilling and completion costs per well: 4.65 MUSD
Stimulation costs: 96.60 MUSD
Stimulation costs per well: 4.83 MUSD
Surface power plant costs: 293.51 MUSD
Field gathering system costs: 9.87 MUSD
Total surface equipment costs: 303.38 MUSD
Overnight Capital Cost: 522.95 MUSD
Inflation costs during construction: 33.49 MUSD
Interest during construction: 21.28 MUSD
Total CAPEX: 577.73 MUSD
***OPERATING AND MAINTENANCE COSTS (M$/yr)***
Wellfield maintenance costs: 1.72 MUSD/yr
Power plant maintenance costs: 6.48 MUSD/yr
Water costs: 0.64 MUSD/yr
Redrilling costs: 18.96 MUSD/yr
Average Annual Royalty Cost: 2.50 MUSD/yr
Total operating and maintenance costs: 30.30 MUSD/yr
***SURFACE EQUIPMENT SIMULATION RESULTS***
Initial geofluid availability: 0.19 MW/(kg/s)
Maximum Total Electricity Generation: 119.94 MW
Average Total Electricity Generation: 119.51 MW
Minimum Total Electricity Generation: 117.42 MW
Initial Total Electricity Generation: 117.80 MW
Maximum Net Electricity Generation: 103.67 MW
Average Net Electricity Generation: 103.23 MW
Minimum Net Electricity Generation: 101.08 MW
Initial Net Electricity Generation: 101.50 MW
Average Annual Total Electricity Generation: 955.83 GWh
Average Annual Net Electricity Generation: 825.61 GWh
Initial pumping power/net installed power: 16.06 %
Average Pumping Power: 16.28 MW
Heat to Power Conversion Efficiency: 14.06 %
************************************************************
* HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE *
************************************************************
YEAR THERMAL GEOFLUID PUMP NET FIRST LAW
DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY
(degC) (MW) (MW) (%)
1 1.0000 201.66 16.3023 101.5010 13.9344
2 1.0052 202.70 16.2951 103.0141 14.0407
3 1.0062 202.90 16.2938 103.2958 14.0604
4 1.0067 203.00 16.2931 103.4424 14.0706
5 1.0070 203.07 16.2927 103.5394 14.0773
6 1.0072 203.12 16.2924 103.6102 14.0822
7 1.0074 203.14 16.2925 103.6434 14.0845
8 1.0066 202.98 16.2976 103.4092 14.0680
9 1.0008 201.82 16.3303 101.7018 13.9467
10 1.0048 202.61 16.2906 102.8890 14.0323
11 1.0060 202.86 16.2888 103.2500 14.0575
12 1.0066 202.98 16.2858 103.4194 14.0695
13 1.0069 203.05 16.2819 103.5290 14.0773
14 1.0072 203.11 16.2778 103.6091 14.0831
15 1.0074 203.14 16.2746 103.6609 14.0869
16 1.0070 203.06 16.2754 103.5500 14.0792
17 1.0032 202.30 16.2961 102.4257 13.9996
18 1.0041 202.48 16.2700 102.7114 14.0213
19 1.0058 202.82 16.2697 103.2087 14.0559
20 1.0064 202.96 16.2696 103.4019 14.0693
21 1.0068 203.04 16.2695 103.5184 14.0774
22 1.0071 203.09 16.2695 103.6004 14.0831
23 1.0073 203.13 16.2697 103.6585 14.0871
24 1.0072 203.11 16.2714 103.6200 14.0843
25 1.0048 202.63 16.2857 102.9099 14.0341
26 1.0027 202.21 16.2696 102.3229 13.9942
27 1.0055 202.77 16.2697 103.1345 14.0508
28 1.0063 202.93 16.2697 103.3636 14.0667
29 1.0068 203.02 16.2697 103.4932 14.0756
30 1.0071 203.08 16.2697 103.5820 14.0818
*******************************************************************
* ANNUAL HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE *
*******************************************************************
YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF
PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED
(GWh/year) (GWh/year) (10^15 J) (%)
1 819.9 5854.1 274.70 7.13
2 825.2 5872.4 253.56 14.27
3 826.8 5877.9 232.40 21.43
4 827.7 5881.2 211.23 28.59
5 828.4 5883.5 190.05 35.75
6 828.8 5885.1 168.86 42.91
7 828.4 5883.5 147.68 50.07
8 822.0 5861.7 126.58 57.20
9 816.8 5843.2 105.54 64.32
10 824.6 5870.1 84.41 71.46
11 826.5 5876.8 63.25 78.61
12 827.6 5880.5 42.08 85.77
13 828.3 5883.0 20.90 92.93
14 828.9 5884.8 -0.28 100.10
15 828.9 5884.6 -21.47 107.26
16 825.0 5871.3 -42.60 114.40
17 815.5 5838.4 -63.62 121.51
18 823.9 5867.2 -84.74 128.65
19 826.3 5875.6 -105.90 135.80
20 827.5 5879.7 -127.06 142.96
21 828.3 5882.5 -148.24 150.12
22 828.8 5884.4 -169.42 157.28
23 829.0 5885.1 -190.61 164.44
24 826.8 5877.5 -211.77 171.60
25 815.8 5839.5 -232.79 178.71
26 822.6 5862.8 -253.90 185.84
27 825.9 5874.1 -275.04 192.99
28 827.2 5878.9 -296.21 200.15
29 828.1 5881.9 -317.38 207.31
30 828.7 5883.9 -338.56 214.47
***************************
* SAM CASH FLOW PROFILE *
***************************
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Year -2 Year -1 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30
CONSTRUCTION
Capital expenditure schedule [construction] (%) 7.50 52.50 40.0
Overnight capital expenditure [construction] ($) -39,221,540 -274,550,783 -209,181,549
plus:
Inflation cost [construction] ($) -1,058,982 -15,025,890 -17,405,303
plus:
Royalty supplemental payments [construction] ($) 0 0 0
equals:
Nominal capital expenditure [construction] ($) -40,280,522 -289,576,673 -226,586,852
Issuance of equity [construction] ($) 40,280,522 86,873,002 67,976,056
Issuance of debt [construction] ($) 0 202,703,671 158,610,796
Debt balance [construction] ($) 0 202,703,671 382,598,353
Debt interest payment [construction] ($) 0 0 21,283,885
Installed cost [construction] ($) -40,280,522 -289,576,673 -247,870,737
After-tax net cash flow [construction] ($) -40,280,522 -86,873,002 -67,976,056
ENERGY
Electricity to grid (kWh) 0.0 819,982,906 825,242,375 826,846,536 827,795,486 828,458,571 828,909,206 828,438,729 822,058,579 816,850,600 824,645,090 826,583,395 827,665,703 828,413,551 828,955,799 828,928,241 825,026,334 815,568,100 823,962,181 826,367,505 827,558,523 828,337,879 828,900,634 829,103,122 826,853,519 815,853,854 822,701,695 825,946,467 827,311,470 828,165,834 828,755,366
Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Electricity to grid net (kWh) 0.0 819,982,906 825,242,375 826,846,536 827,795,486 828,458,571 828,909,206 828,438,729 822,058,579 816,850,600 824,645,090 826,583,395 827,665,703 828,413,551 828,955,799 828,928,241 825,026,334 815,568,100 823,962,181 826,367,505 827,558,523 828,337,879 828,900,634 829,103,122 826,853,519 815,853,854 822,701,695 825,946,467 827,311,470 828,165,834 828,755,366
REVENUE
PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10
PPA revenue ($) 0 77,898,376 78,398,026 79,021,723 79,584,258 80,120,228 80,636,288 81,062,730 80,907,005 80,860,041 82,101,665 82,765,795 83,345,936 83,893,440 84,420,859 84,890,541 84,961,212 84,452,077 85,790,942 86,512,414 87,108,810 87,662,998 88,195,027 88,689,161 88,919,827 88,201,960 89,411,220 90,234,651 90,855,346 91,421,226 91,958,695
Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 288,863,966
Total revenue ($) 0 77,898,376 78,398,026 79,021,723 79,584,258 80,120,228 80,636,288 81,062,730 80,907,005 80,860,041 82,101,665 82,765,795 83,345,936 83,893,440 84,420,859 84,890,541 84,961,212 84,452,077 85,790,942 86,512,414 87,108,810 87,662,998 88,195,027 88,689,161 88,919,827 88,201,960 89,411,220 90,234,651 90,855,346 91,421,226 380,822,662
Property tax net assessed value ($) 0 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932 577,727,932
OPERATING EXPENSES
O&M fixed expense ($) 0 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865 27,794,865
Royalty rate (%) 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
O&M production-based expense ($) 0 1,363,222 1,371,965 1,382,880 1,392,725 1,402,104 1,411,135 1,418,598 1,415,873 1,415,051 1,436,779 2,896,803 2,917,108 2,936,270 2,954,730 2,971,169 2,973,642 2,955,823 3,002,683 3,027,934 3,048,808 3,068,205 3,086,826 3,104,121 3,112,194 3,087,069 3,129,393 3,158,213 3,179,937 3,199,743 3,218,554
O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Property tax expense ($) 0 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001 1,271,001
Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total operating expenses ($) 0 30,429,088 30,437,832 30,448,747 30,458,591 30,467,970 30,477,001 30,484,464 30,481,739 30,480,917 30,502,646 31,962,669 31,982,974 32,002,137 32,020,596 32,037,035 32,039,509 32,021,689 32,068,549 32,093,801 32,114,675 32,134,071 32,152,692 32,169,987 32,178,060 32,152,935 32,195,259 32,224,079 32,245,804 32,265,609 32,284,421
EBITDA ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
OPERATING ACTIVITIES
EBITDA ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
plus PBI if not available for debt service:
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt interest payment ($) 0 26,781,885 26,498,361 26,194,990 25,870,384 25,523,055 25,151,413 24,753,756 24,328,263 23,872,986 23,385,839 22,864,592 22,306,858 21,710,082 21,071,532 20,388,284 19,657,208 18,874,957 18,037,948 17,142,349 16,184,057 15,158,685 14,061,538 12,887,589 11,631,465 10,287,412 8,849,275 7,310,468 5,663,945 3,902,166 2,017,061
Cash flow from operating activities ($) 0 20,687,403 21,461,833 22,377,986 23,255,283 24,129,203 25,007,873 25,824,509 26,097,003 26,506,138 28,213,180 27,938,534 29,056,104 30,181,221 31,328,730 32,465,222 33,264,495 33,555,431 35,684,445 37,276,265 38,810,078 40,370,241 41,980,797 43,631,584 45,110,302 45,761,613 48,366,686 50,700,104 52,945,597 55,253,451 346,521,179
INVESTING ACTIVITIES
Total installed cost ($) -577,727,932
Debt closing costs ($) 0
Debt up-front fee ($) 0
minus:
Total IBI income ($) 0
Total CBI income ($) 0
equals:
Purchase of property ($) -577,727,932
plus:
Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from investing activities ($) -577,727,932 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
FINANCING ACTIVITIES
Issuance of equity ($) 195,129,579
Size of debt ($) 382,598,353
minus:
Debt principal payment ($) 0 4,050,341 4,333,864 4,637,235 4,961,841 5,309,170 5,680,812 6,078,469 6,503,962 6,959,239 7,446,386 7,967,633 8,525,367 9,122,143 9,760,693 10,443,941 11,175,017 11,957,269 12,794,277 13,689,877 14,648,168 15,673,540 16,770,688 17,944,636 19,200,760 20,544,814 21,982,950 23,521,757 25,168,280 26,930,060 28,815,164
equals:
Cash flow from financing activities ($) 577,727,932 -4,050,341 -4,333,864 -4,637,235 -4,961,841 -5,309,170 -5,680,812 -6,078,469 -6,503,962 -6,959,239 -7,446,386 -7,967,633 -8,525,367 -9,122,143 -9,760,693 -10,443,941 -11,175,017 -11,957,269 -12,794,277 -13,689,877 -14,648,168 -15,673,540 -16,770,688 -17,944,636 -19,200,760 -20,544,814 -21,982,950 -23,521,757 -25,168,280 -26,930,060 -28,815,164
PROJECT RETURNS
Pre-tax Cash Flow:
Cash flow from operating activities ($) 0 20,687,403 21,461,833 22,377,986 23,255,283 24,129,203 25,007,873 25,824,509 26,097,003 26,506,138 28,213,180 27,938,534 29,056,104 30,181,221 31,328,730 32,465,222 33,264,495 33,555,431 35,684,445 37,276,265 38,810,078 40,370,241 41,980,797 43,631,584 45,110,302 45,761,613 48,366,686 50,700,104 52,945,597 55,253,451 346,521,179
Cash flow from investing activities ($) -577,727,932 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash flow from financing activities ($) 577,727,932 -4,050,341 -4,333,864 -4,637,235 -4,961,841 -5,309,170 -5,680,812 -6,078,469 -6,503,962 -6,959,239 -7,446,386 -7,967,633 -8,525,367 -9,122,143 -9,760,693 -10,443,941 -11,175,017 -11,957,269 -12,794,277 -13,689,877 -14,648,168 -15,673,540 -16,770,688 -17,944,636 -19,200,760 -20,544,814 -21,982,950 -23,521,757 -25,168,280 -26,930,060 -28,815,164
Total pre-tax cash flow ($) 0 16,637,063 17,127,968 17,740,752 18,293,442 18,820,033 19,327,061 19,746,040 19,593,041 19,546,899 20,766,794 19,970,901 20,530,737 21,059,078 21,568,037 22,021,281 22,089,478 21,598,162 22,890,168 23,586,388 24,161,910 24,696,701 25,210,110 25,686,949 25,909,542 25,216,800 26,383,736 27,178,347 27,777,317 28,323,392 317,706,016
Pre-tax Returns:
Issuance of equity ($) 195,129,579
Total pre-tax cash flow ($) 0 16,637,063 17,127,968 17,740,752 18,293,442 18,820,033 19,327,061 19,746,040 19,593,041 19,546,899 20,766,794 19,970,901 20,530,737 21,059,078 21,568,037 22,021,281 22,089,478 21,598,162 22,890,168 23,586,388 24,161,910 24,696,701 25,210,110 25,686,949 25,909,542 25,216,800 26,383,736 27,178,347 27,777,317 28,323,392 317,706,016
Total pre-tax returns ($) -195,129,579 16,637,063 17,127,968 17,740,752 18,293,442 18,820,033 19,327,061 19,746,040 19,593,041 19,546,899 20,766,794 19,970,901 20,530,737 21,059,078 21,568,037 22,021,281 22,089,478 21,598,162 22,890,168 23,586,388 24,161,910 24,696,701 25,210,110 25,686,949 25,909,542 25,216,800 26,383,736 27,178,347 27,777,317 28,323,392 317,706,016
After-tax Returns:
Total pre-tax returns ($) -195,129,579 16,637,063 17,127,968 17,740,752 18,293,442 18,820,033 19,327,061 19,746,040 19,593,041 19,546,899 20,766,794 19,970,901 20,530,737 21,059,078 21,568,037 22,021,281 22,089,478 21,598,162 22,890,168 23,586,388 24,161,910 24,696,701 25,210,110 25,686,949 25,909,542 25,216,800 26,383,736 27,178,347 27,777,317 28,323,392 317,706,016
Federal ITC total income ($) 0 173,318,380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal tax benefit (liability) ($) 0 -1,685,880 619,697 436,058 260,208 85,036 -91,089 -254,780 -309,400 -391,409 -733,577 -678,526 -902,537 -1,128,061 -1,358,074 -1,585,878 -1,746,088 -1,804,405 -2,231,155 -2,550,227 -2,857,672 -5,631,206 -8,414,841 -8,745,733 -9,042,135 -9,172,687 -9,694,860 -10,162,582 -10,612,680 -11,075,278 -69,458,438
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 -382,686 140,668 98,983 59,066 19,303 -20,677 -57,834 -70,232 -88,848 -166,518 -154,022 -204,871 -256,064 -308,276 -359,986 -396,353 -409,591 -506,461 -578,889 -648,677 -1,278,255 -1,910,126 -1,985,237 -2,052,519 -2,082,153 -2,200,684 -2,306,855 -2,409,025 -2,514,032 -15,766,714
Total after-tax returns ($) -195,129,579 187,886,877 17,888,333 18,275,793 18,612,716 18,924,371 19,215,295 19,433,426 19,213,409 19,066,642 19,866,699 19,138,353 19,423,328 19,674,953 19,901,687 20,075,417 19,947,037 19,384,167 20,152,552 20,457,272 20,655,561 17,787,240 14,885,143 14,955,979 14,814,889 13,961,960 14,488,191 14,708,910 14,755,612 14,734,082 232,480,864
After-tax net cash flow ($) -40,280,522 -86,873,002 -67,976,056 187,886,877 17,888,333 18,275,793 18,612,716 18,924,371 19,215,295 19,433,426 19,213,409 19,066,642 19,866,699 19,138,353 19,423,328 19,674,953 19,901,687 20,075,417 19,947,037 19,384,167 20,152,552 20,457,272 20,655,561 17,787,240 14,885,143 14,955,979 14,814,889 13,961,960 14,488,191 14,708,910 14,755,612 14,734,082 232,480,864
After-tax cumulative IRR (%) NaN NaN NaN -2.02 2.76 6.78 9.95 12.38 14.23 15.64 16.70 17.50 18.15 18.64 19.03 19.34 19.59 19.79 19.95 20.08 20.19 20.27 20.35 20.40 20.43 20.46 20.48 20.50 20.52 20.53 20.54 20.55 20.66
After-tax cumulative NPV ($) -40,280,522 -115,806,501 -167,184,718 -43,723,360 -33,504,181 -24,427,358 -16,390,636 -9,286,648 -3,015,612 2,498,216 7,237,577 11,326,426 15,030,367 18,132,458 20,869,523 23,279,910 25,399,610 27,258,530 28,864,309 30,220,955 31,447,153 32,529,309 33,479,237 34,190,408 34,707,812 35,159,775 35,548,998 35,867,900 36,155,599 36,409,529 36,630,993 36,823,250 39,460,530
AFTER-TAX LCOE AND PPA PRICE
Annual costs ($) -40,280,522 -86,873,002 -67,976,056 109,988,501 -60,509,693 -60,745,931 -60,971,542 -61,195,857 -61,420,993 -61,629,303 -61,693,597 -61,793,399 -62,234,966 -63,627,442 -63,922,608 -64,218,487 -64,519,171 -64,815,125 -65,014,175 -65,067,910 -65,638,390 -66,055,142 -66,453,250 -69,875,758 -73,309,885 -73,733,182 -74,104,939 -74,240,000 -74,923,029 -75,525,742 -76,099,734 -76,687,145 140,522,169
PPA revenue ($) 0 0 0 77,898,376 78,398,026 79,021,723 79,584,258 80,120,228 80,636,288 81,062,730 80,907,005 80,860,041 82,101,665 82,765,795 83,345,936 83,893,440 84,420,859 84,890,541 84,961,212 84,452,077 85,790,942 86,512,414 87,108,810 87,662,998 88,195,027 88,689,161 88,919,827 88,201,960 89,411,220 90,234,651 90,855,346 91,421,226 91,958,695
Electricity to grid (kWh) 0 0 0 819,982,906 825,242,375 826,846,536 827,795,486 828,458,571 828,909,206 828,438,729 822,058,579 816,850,600 824,645,090 826,583,395 827,665,703 828,413,551 828,955,799 828,928,241 825,026,334 815,568,100 823,962,181 826,367,505 827,558,523 828,337,879 828,900,634 829,103,122 826,853,519 815,853,854 822,701,695 825,946,467 827,311,470 828,165,834 828,755,366
Present value of annual costs ($) 361,498,090
Present value of annual energy costs ($) 361,498,090
Present value of annual energy nominal (kWh) 4,089,724,269
LCOE Levelized cost of energy nominal (cents/kWh) 8.84
Present value of PPA revenue ($) 400,958,619
Present value of annual energy nominal (kWh) 4,089,724,269
LPPA Levelized PPA price nominal (cents/kWh) 9.80
PROJECT STATE INCOME TAXES
EBITDA ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State taxable IBI income ($) 0
State taxable CBI income ($) 0
minus:
Debt interest payment ($) 0 26,781,885 26,498,361 26,194,990 25,870,384 25,523,055 25,151,413 24,753,756 24,328,263 23,872,986 23,385,839 22,864,592 22,306,858 21,710,082 21,071,532 20,388,284 19,657,208 18,874,957 18,037,948 17,142,349 16,184,057 15,158,685 14,061,538 12,887,589 11,631,465 10,287,412 8,849,275 7,310,468 5,663,945 3,902,166 2,017,061
Total state tax depreciation ($) 0 12,276,719 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 12,276,719 0 0 0 0 0 0 0 0 0
equals:
State taxable income ($) 0 8,410,685 -3,091,604 -2,175,451 -1,298,154 -424,234 454,436 1,271,072 1,543,566 1,952,701 3,659,743 3,385,097 4,502,667 5,627,784 6,775,293 7,911,785 8,711,058 9,001,994 11,131,008 12,722,828 14,256,641 28,093,522 41,980,797 43,631,584 45,110,302 45,761,613 48,366,686 50,700,104 52,945,597 55,253,451 346,521,179
State income tax rate (frac) 0.0 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
State tax benefit (liability) ($) 0 -382,686 140,668 98,983 59,066 19,303 -20,677 -57,834 -70,232 -88,848 -166,518 -154,022 -204,871 -256,064 -308,276 -359,986 -396,353 -409,591 -506,461 -578,889 -648,677 -1,278,255 -1,910,126 -1,985,237 -2,052,519 -2,082,153 -2,200,684 -2,306,855 -2,409,025 -2,514,032 -15,766,714
PROJECT FEDERAL INCOME TAXES
EBITDA ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 -382,686 140,668 98,983 59,066 19,303 -20,677 -57,834 -70,232 -88,848 -166,518 -154,022 -204,871 -256,064 -308,276 -359,986 -396,353 -409,591 -506,461 -578,889 -648,677 -1,278,255 -1,910,126 -1,985,237 -2,052,519 -2,082,153 -2,200,684 -2,306,855 -2,409,025 -2,514,032 -15,766,714
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal taxable IBI income ($) 0
Federal taxable CBI income ($) 0
Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
minus:
Debt interest payment ($) 0 26,781,885 26,498,361 26,194,990 25,870,384 25,523,055 25,151,413 24,753,756 24,328,263 23,872,986 23,385,839 22,864,592 22,306,858 21,710,082 21,071,532 20,388,284 19,657,208 18,874,957 18,037,948 17,142,349 16,184,057 15,158,685 14,061,538 12,887,589 11,631,465 10,287,412 8,849,275 7,310,468 5,663,945 3,902,166 2,017,061
Total federal tax depreciation ($) 0 12,276,719 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 24,553,437 12,276,719 0 0 0 0 0 0 0 0 0
equals:
Federal taxable income ($) 0 8,027,999 -2,950,936 -2,076,468 -1,239,088 -404,932 433,759 1,213,238 1,473,334 1,863,853 3,493,225 3,231,075 4,297,796 5,371,720 6,467,017 7,551,799 8,314,705 8,592,403 10,624,547 12,143,939 13,607,964 26,815,267 40,070,671 41,646,347 43,057,783 43,679,460 46,166,002 48,393,249 50,536,572 52,739,419 330,754,466
Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21
Federal tax benefit (liability) ($) 0 -1,685,880 619,697 436,058 260,208 85,036 -91,089 -254,780 -309,400 -391,409 -733,577 -678,526 -902,537 -1,128,061 -1,358,074 -1,585,878 -1,746,088 -1,804,405 -2,231,155 -2,550,227 -2,857,672 -5,631,206 -8,414,841 -8,745,733 -9,042,135 -9,172,687 -9,694,860 -10,162,582 -10,612,680 -11,075,278 -69,458,438
CASH INCENTIVES
Federal IBI income ($) 0
State IBI income ($) 0
Utility IBI income ($) 0
Other IBI income ($) 0
Total IBI income ($) 0
Federal CBI income ($) 0
State CBI income ($) 0
Utility CBI income ($) 0
Other CBI income ($) 0
Total CBI income ($) 0
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TAX CREDITS
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC percent income ($) 0 173,318,380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC total income ($) 0 173,318,380 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
DEBT REPAYMENT
Debt balance ($) 382,598,353 378,548,012 374,214,148 369,576,913 364,615,072 359,305,901 353,625,089 347,546,620 341,042,659 334,083,419 326,637,033 318,669,401 310,144,033 301,021,890 291,261,198 280,817,256 269,642,239 257,684,970 244,890,693 231,200,816 216,552,648 200,879,108 184,108,421 166,163,785 146,963,024 126,418,211 104,435,260 80,913,503 55,745,223 28,815,164 0
Debt interest payment ($) 0 26,781,885 26,498,361 26,194,990 25,870,384 25,523,055 25,151,413 24,753,756 24,328,263 23,872,986 23,385,839 22,864,592 22,306,858 21,710,082 21,071,532 20,388,284 19,657,208 18,874,957 18,037,948 17,142,349 16,184,057 15,158,685 14,061,538 12,887,589 11,631,465 10,287,412 8,849,275 7,310,468 5,663,945 3,902,166 2,017,061
Debt principal payment ($) 0 4,050,341 4,333,864 4,637,235 4,961,841 5,309,170 5,680,812 6,078,469 6,503,962 6,959,239 7,446,386 7,967,633 8,525,367 9,122,143 9,760,693 10,443,941 11,175,017 11,957,269 12,794,277 13,689,877 14,648,168 15,673,540 16,770,688 17,944,636 19,200,760 20,544,814 21,982,950 23,521,757 25,168,280 26,930,060 28,815,164
Debt total payment ($) 0 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225
DSCR (DEBT FRACTION)
EBITDA ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
minus:
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash available for debt service (CAFDS) ($) 0 47,469,288 47,960,194 48,572,977 49,125,667 49,652,258 50,159,286 50,578,265 50,425,266 50,379,124 51,599,020 50,803,126 51,362,962 51,891,303 52,400,262 52,853,506 52,921,703 52,430,388 53,722,393 54,418,613 54,994,135 55,528,926 56,042,335 56,519,174 56,741,767 56,049,025 57,215,961 58,010,572 58,609,542 59,155,617 348,538,241
Debt total payment ($) 0 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225 30,832,225
DSCR (pre-tax) 0.0 1.54 1.56 1.58 1.59 1.61 1.63 1.64 1.64 1.63 1.67 1.65 1.67 1.68 1.70 1.71 1.72 1.70 1.74 1.76 1.78 1.80 1.82 1.83 1.84 1.82 1.86 1.88 1.90 1.92 11.30
RESERVES
Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest on reserves (%/year) 1.75
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
***EXTENDED ECONOMICS***
Royalty Holder NPV: 30.79 MUSD
Royalty Holder Average Annual Revenue: 2.27 MUSD/yr
Royalty Holder Total Revenue: 75.04 MUSD