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*****************
***CASE REPORT***
*****************
Simulation Metadata
----------------------
GEOPHIRES Version: 3.12.1
Simulation Date: 2026-04-05
Simulation Time: 07:35
Calculation Time: 1.219 sec
***SUMMARY OF RESULTS***
End-Use Option: Electricity
Average Net Electricity Production: 58.87 MW
Electricity breakeven price: 7.64 cents/kWh
Total CAPEX: 275.47 MUSD
Total CAPEX ($/kW): 4667 USD/kW
Number of production wells: 6
Number of injection wells: 6
Flowrate per production well: 100.0 kg/sec
Well depth: 2.6 kilometer
Geothermal gradient: 74 degC/km
***ECONOMIC PARAMETERS***
Economic Model = SAM Single Owner PPA
Real Discount Rate: 8.00 %
Nominal Discount Rate: 10.16 %
WACC: 7.57 %
Investment Tax Credit: 82.64 MUSD
Project lifetime: 20 yr
Capacity factor: 90.0 %
Project NPV: 210.63 MUSD
After-tax IRR: 30.00 %
Project VIR=PI=PIR: 2.27
Project MOIC: 4.61
Project Payback Period: 3.94 yr
Estimated Jobs Created: 125
***ENGINEERING PARAMETERS***
Number of Production Wells: 6
Number of Injection Wells: 6
Well depth: 2.6 kilometer
Water loss rate: 10.0 %
Pump efficiency: 80.0 %
Injection temperature: 56.7 degC
Production Wellbore heat transmission calculated with Ramey's model
Average production well temperature drop: 2.2 degC
Flowrate per production well: 100.0 kg/sec
Injection well casing ID: 9.625 in
Production well casing ID: 9.625 in
Number of times redrilling: 0
Power plant type: Supercritical ORC
***RESOURCE CHARACTERISTICS***
Maximum reservoir temperature: 500.0 degC
Number of segments: 1
Geothermal gradient: 74 degC/km
***RESERVOIR PARAMETERS***
Reservoir Model = Multiple Parallel Fractures Model (Gringarten)
Bottom-hole temperature: 202.40 degC
Fracture model = Square
Well separation: fracture height: 165.00 meter
Fracture area: 27225.00 m**2
Number of fractures calculated with reservoir volume and fracture separation as input
Number of fractures: 4083
Fracture separation: 18.00 meter
Reservoir volume: 2000000000 m**3
Reservoir impedance: 0.0010 GPa.s/m**3
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: 200.4 degC
Average Production Temperature: 200.2 degC
Minimum Production Temperature: 198.6 degC
Initial Production Temperature: 198.6 degC
Average Reservoir Heat Extraction: 360.65 MW
Production Wellbore Heat Transmission Model = Ramey Model
Average Production Well Temperature Drop: 2.2 degC
Total Average Pressure Drop: -1320.2 kPa
Average Injection Well Pressure Drop: 483.7 kPa
Average Reservoir Pressure Drop: 630.2 kPa
Average Production Well Pressure Drop: 442.7 kPa
Average Buoyancy Pressure Drop: -2876.7 kPa
***CAPITAL COSTS (M$)***
Exploration costs: 3.89 MUSD
Drilling and completion costs: 49.18 MUSD
Drilling and completion costs per vertical production well: 3.37 MUSD
Drilling and completion costs per vertical injection well: 3.37 MUSD
Drilling and completion costs per non-vertical section: 2.14 MUSD
Stimulation costs: 9.06 MUSD
Surface power plant costs: 144.44 MUSD
Field gathering system costs: 5.80 MUSD
Total surface equipment costs: 150.23 MUSD
Total Add-on CAPEX: 50.00 MUSD
Overnight Capital Cost: 262.36 MUSD
Inflation costs during construction: 13.12 MUSD
Total CAPEX: 275.47 MUSD
***OPERATING AND MAINTENANCE COSTS (M$/yr)***
Wellfield maintenance costs: 1.13 MUSD/yr
Power plant maintenance costs: 3.90 MUSD/yr
Water costs: 1.58 MUSD/yr
Total Add-on OPEX: 1.00 MUSD/yr
Total operating and maintenance costs: 7.60 MUSD/yr
***SURFACE EQUIPMENT SIMULATION RESULTS***
Initial geofluid availability: 0.19 MW/(kg/s)
Maximum Total Electricity Generation: 59.02 MW
Average Total Electricity Generation: 58.87 MW
Minimum Total Electricity Generation: 57.74 MW
Initial Total Electricity Generation: 57.74 MW
Maximum Net Electricity Generation: 59.02 MW
Average Net Electricity Generation: 58.87 MW
Minimum Net Electricity Generation: 57.74 MW
Initial Net Electricity Generation: 57.74 MW
Average Annual Total Electricity Generation: 464.13 GWh
Average Annual Net Electricity Generation: 464.13 GWh
Average Pumping Power: 0.00 MW
Heat to Power Conversion Efficiency: 16.32 %
************************************************************
* 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 198.64 0.0000 57.7389 16.1868
2 1.0055 199.73 0.0000 58.5226 16.2814
3 1.0065 199.93 0.0000 58.6666 16.2987
4 1.0070 200.03 0.0000 58.7412 16.3077
5 1.0074 200.10 0.0000 58.7905 16.3136
6 1.0076 200.15 0.0000 58.8268 16.3179
7 1.0078 200.19 0.0000 58.8554 16.3213
8 1.0080 200.22 0.0000 58.8787 16.3241
9 1.0081 200.25 0.0000 58.8984 16.3265
10 1.0082 200.27 0.0000 58.9153 16.3285
11 1.0083 200.30 0.0000 58.9302 16.3303
12 1.0084 200.31 0.0000 58.9434 16.3318
13 1.0085 200.33 0.0000 58.9552 16.3332
14 1.0086 200.34 0.0000 58.9660 16.3345
15 1.0087 200.36 0.0000 58.9758 16.3357
16 1.0087 200.37 0.0000 58.9848 16.3368
17 1.0088 200.38 0.0000 58.9931 16.3378
18 1.0088 200.39 0.0000 59.0009 16.3387
19 1.0089 200.40 0.0000 59.0081 16.3396
20 1.0089 200.41 0.0000 59.0149 16.3404
*******************************************************************
* 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) (%)
1 459.4 2826.8 606.53 1.65
2 462.0 2836.1 596.32 3.31
3 462.8 2838.9 586.10 4.96
4 463.3 2840.6 575.87 6.62
5 463.7 2841.7 565.64 8.28
6 463.9 2842.6 555.41 9.94
7 464.1 2843.3 545.17 11.60
8 464.3 2843.9 534.94 13.26
9 464.4 2844.4 524.70 14.92
10 464.5 2844.9 514.45 16.58
11 464.7 2845.2 504.21 18.24
12 464.8 2845.6 493.97 19.90
13 464.8 2845.9 483.72 21.56
14 464.9 2846.2 473.48 23.23
15 465.0 2846.4 463.23 24.89
16 465.1 2846.7 452.98 26.55
17 465.1 2846.9 442.73 28.21
18 465.2 2847.1 432.48 29.87
19 465.2 2847.3 422.23 31.53
20 465.3 2847.5 411.98 33.20
***************************
* SAM CASH FLOW PROFILE *
***************************
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
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
CONSTRUCTION
Capital expenditure schedule [construction] (%) 100.0
Overnight capital expenditure [construction] ($) -262,355,642
plus:
Inflation cost [construction] ($) -13,117,782
plus:
Royalty supplemental payments [construction] ($) 0
equals:
Nominal capital expenditure [construction] ($) -275,473,424
Issuance of equity [construction] ($) 165,284,055
Issuance of debt [construction] ($) 110,189,370
Debt balance [construction] ($) 110,189,370
Debt interest payment [construction] ($) 0
Installed cost [construction] ($) -275,473,424
After-tax net cash flow [construction] ($) -165,284,055
ENERGY
Electricity to grid (kWh) 0.0 459,393,200 462,061,296 462,867,882 463,343,815 463,676,568 463,929,931 464,133,155 464,302,013 464,445,938 464,571,006 464,681,345 464,779,886 464,868,777 464,949,642 465,023,726 465,092,011 465,155,313 465,214,308 465,269,475 465,319,040
Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Electricity to grid net (kWh) 0.0 459,393,200 462,061,296 462,867,882 463,343,815 463,676,568 463,929,931 464,133,155 464,302,013 464,445,938 464,571,006 464,681,345 464,779,886 464,868,777 464,949,642 465,023,726 465,092,011 465,155,313 465,214,308 465,269,475 465,319,040
REVENUE
PPA price (cents/kWh) 0.0 8.0 8.0 8.32 8.64 8.97 9.29 9.61 9.93 10.25 10.58 10.90 11.22 11.54 11.86 12.19 12.51 12.83 13.15 13.47 13.80
PPA revenue ($) 0 36,751,456 36,964,904 38,519,865 40,051,439 41,573,241 43,089,812 44,603,196 46,114,476 47,624,287 49,133,030 50,640,973 52,148,303 53,655,154 55,161,626 56,667,791 58,173,709 59,679,427 61,184,986 62,690,409 64,195,415
Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Add-On revenue ($) 0 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000
equals:
Capacity payment revenue ($) 0 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000 15,000,000
Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 137,736,712
Total revenue ($) 0 51,751,456 51,964,904 53,519,865 55,051,439 56,573,241 58,089,812 59,603,196 61,114,476 62,624,287 64,133,030 65,640,973 67,148,303 68,655,154 70,161,626 71,667,791 73,173,709 74,679,427 76,184,986 77,690,409 216,932,127
Property tax net assessed value ($) 0 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424 275,473,424
OPERATING EXPENSES
O&M fixed expense ($) 0 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142
O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total operating expenses ($) 0 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142 7,599,142
EBITDA ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
OPERATING ACTIVITIES
EBITDA ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
plus PBI if not available for debt service:
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt interest payment ($) 0 5,509,468 5,342,848 5,167,896 4,984,197 4,791,313 4,588,785 4,376,130 4,152,842 3,918,390 3,672,216 3,413,733 3,142,325 2,857,348 2,558,121 2,243,933 1,914,036 1,567,643 1,203,932 822,034 421,042
Cash flow from operating activities ($) 0 38,642,845 39,022,913 40,752,827 42,468,100 44,182,786 45,901,885 47,627,924 49,362,491 51,106,754 52,861,671 54,628,098 56,406,835 58,198,664 60,004,362 61,824,716 63,660,531 65,512,641 67,381,912 69,269,232 208,911,943
INVESTING ACTIVITIES
Total installed cost ($) -275,473,424
Debt closing costs ($) 0
Debt up-front fee ($) 0
minus:
Total IBI income ($) 0
Total CBI income ($) 0
equals:
Purchase of property ($) -275,473,424
plus:
Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from investing activities ($) -275,473,424 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
FINANCING ACTIVITIES
Issuance of equity ($) 165,284,055
Size of debt ($) 110,189,370
minus:
Debt principal payment ($) 0 3,332,412 3,499,032 3,673,984 3,857,683 4,050,567 4,253,096 4,465,750 4,689,038 4,923,490 5,169,664 5,428,147 5,699,555 5,984,532 6,283,759 6,597,947 6,927,844 7,274,237 7,637,948 8,019,846 8,420,838
equals:
Cash flow from financing activities ($) 275,473,424 -3,332,412 -3,499,032 -3,673,984 -3,857,683 -4,050,567 -4,253,096 -4,465,750 -4,689,038 -4,923,490 -5,169,664 -5,428,147 -5,699,555 -5,984,532 -6,283,759 -6,597,947 -6,927,844 -7,274,237 -7,637,948 -8,019,846 -8,420,838
PROJECT RETURNS
Pre-tax Cash Flow:
Cash flow from operating activities ($) 0 38,642,845 39,022,913 40,752,827 42,468,100 44,182,786 45,901,885 47,627,924 49,362,491 51,106,754 52,861,671 54,628,098 56,406,835 58,198,664 60,004,362 61,824,716 63,660,531 65,512,641 67,381,912 69,269,232 208,911,943
Cash flow from investing activities ($) -275,473,424 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash flow from financing activities ($) 275,473,424 -3,332,412 -3,499,032 -3,673,984 -3,857,683 -4,050,567 -4,253,096 -4,465,750 -4,689,038 -4,923,490 -5,169,664 -5,428,147 -5,699,555 -5,984,532 -6,283,759 -6,597,947 -6,927,844 -7,274,237 -7,637,948 -8,019,846 -8,420,838
Total pre-tax cash flow ($) 0 35,310,434 35,523,881 37,078,843 38,610,417 40,132,219 41,648,789 43,162,174 44,673,453 46,183,264 47,692,007 49,199,951 50,707,281 52,214,132 53,720,603 55,226,769 56,732,686 58,238,404 59,743,963 61,249,387 200,491,104
Pre-tax Returns:
Issuance of equity ($) 165,284,055
Total pre-tax cash flow ($) 0 35,310,434 35,523,881 37,078,843 38,610,417 40,132,219 41,648,789 43,162,174 44,673,453 46,183,264 47,692,007 49,199,951 50,707,281 52,214,132 53,720,603 55,226,769 56,732,686 58,238,404 59,743,963 61,249,387 200,491,104
Total pre-tax returns ($) -165,284,055 35,310,434 35,523,881 37,078,843 38,610,417 40,132,219 41,648,789 43,162,174 44,673,453 46,183,264 47,692,007 49,199,951 50,707,281 52,214,132 53,720,603 55,226,769 56,732,686 58,238,404 59,743,963 61,249,387 200,491,104
After-tax Returns:
Total pre-tax returns ($) -165,284,055 35,310,434 35,523,881 37,078,843 38,610,417 40,132,219 41,648,789 43,162,174 44,673,453 46,183,264 47,692,007 49,199,951 50,707,281 52,214,132 53,720,603 55,226,769 56,732,686 58,238,404 59,743,963 61,249,387 200,491,104
Federal ITC total income ($) 0 82,642,027 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal tax benefit (liability) ($) 0 -6,403,699 -5,334,677 -5,672,529 -6,007,522 -6,342,400 -6,678,140 -7,015,235 -7,353,996 -7,694,651 -8,037,386 -8,382,369 -8,729,757 -9,079,701 -9,432,354 -9,787,869 -10,146,403 -10,508,120 -10,873,189 -11,241,783 -38,514,004
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 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) ($) 0 -2,295,232 -1,912,071 -2,033,164 -2,153,234 -2,273,262 -2,393,599 -2,514,421 -2,635,841 -2,757,939 -2,880,784 -3,004,433 -3,128,945 -3,254,373 -3,380,772 -3,508,197 -3,636,704 -3,766,351 -3,897,200 -4,029,313 -13,804,303
Total after-tax returns ($) -165,284,055 109,253,530 28,277,134 29,373,150 30,449,662 31,516,557 32,577,051 33,632,517 34,683,616 35,730,674 36,773,837 37,813,148 38,848,579 39,880,058 40,907,478 41,930,703 42,949,579 43,963,932 44,973,574 45,978,291 148,172,798
After-tax net cash flow ($) -165,284,055 109,253,530 28,277,134 29,373,150 30,449,662 31,516,557 32,577,051 33,632,517 34,683,616 35,730,674 36,773,837 37,813,148 38,848,579 39,880,058 40,907,478 41,930,703 42,949,579 43,963,932 44,973,574 45,978,291 148,172,798
After-tax cumulative IRR (%) NaN -33.90 -14.01 0.64 10.10 16.19 20.21 22.94 24.84 26.19 27.16 27.87 28.40 28.80 29.10 29.32 29.50 29.63 29.73 29.81 30.00
After-tax cumulative NPV ($) -165,284,055 -66,106,922 -42,805,226 -20,832,763 -155,799 19,271,800 37,501,025 54,585,116 70,578,227 85,534,586 99,507,908 112,550,972 124,715,297 136,050,903 146,606,133 156,427,530 165,559,743 174,045,484 181,925,493 189,238,538 210,632,436
AFTER-TAX LCOE AND PPA PRICE
Annual costs ($) -165,284,055 57,502,074 -23,687,770 -24,146,716 -24,601,778 -25,056,684 -25,512,761 -25,970,679 -26,430,860 -26,893,613 -27,359,192 -27,827,825 -28,299,724 -28,775,096 -29,254,148 -29,737,088 -30,224,130 -30,715,494 -31,211,412 -31,712,118 68,977,383
PPA revenue ($) 0 36,751,456 36,964,904 38,519,865 40,051,439 41,573,241 43,089,812 44,603,196 46,114,476 47,624,287 49,133,030 50,640,973 52,148,303 53,655,154 55,161,626 56,667,791 58,173,709 59,679,427 61,184,986 62,690,409 64,195,415
Electricity to grid (kWh) 0 459,393,200 462,061,296 462,867,882 463,343,815 463,676,568 463,929,931 464,133,155 464,302,013 464,445,938 464,571,006 464,681,345 464,779,886 464,868,777 464,949,642 465,023,726 465,092,011 465,155,313 465,214,308 465,269,475 465,319,040
Present value of annual costs ($) 298,190,011
Present value of annual energy costs ($) 298,190,011
Present value of annual energy nominal (kWh) 3,903,105,303
LCOE Levelized cost of energy nominal (cents/kWh) 7.64
Present value of PPA revenue ($) 382,501,304
Present value of annual energy nominal (kWh) 3,903,105,303
LPPA Levelized PPA price nominal (cents/kWh) 9.80
PROJECT STATE INCOME TAXES
EBITDA ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State taxable IBI income ($) 0
State taxable CBI income ($) 0
minus:
Debt interest payment ($) 0 5,509,468 5,342,848 5,167,896 4,984,197 4,791,313 4,588,785 4,376,130 4,152,842 3,918,390 3,672,216 3,413,733 3,142,325 2,857,348 2,558,121 2,243,933 1,914,036 1,567,643 1,203,932 822,034 421,042
Total state tax depreciation ($) 0 5,853,810 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621
equals:
State taxable income ($) 0 32,789,035 27,315,293 29,045,206 30,760,479 32,475,165 34,194,264 35,920,304 37,654,871 39,399,133 41,154,051 42,920,477 44,699,215 46,491,044 48,296,742 50,117,095 51,952,910 53,805,020 55,674,291 57,561,612 197,204,322
State income tax rate (frac) 0.0 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07
State tax benefit (liability) ($) 0 -2,295,232 -1,912,071 -2,033,164 -2,153,234 -2,273,262 -2,393,599 -2,514,421 -2,635,841 -2,757,939 -2,880,784 -3,004,433 -3,128,945 -3,254,373 -3,380,772 -3,508,197 -3,636,704 -3,766,351 -3,897,200 -4,029,313 -13,804,303
PROJECT FEDERAL INCOME TAXES
EBITDA ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 -2,295,232 -1,912,071 -2,033,164 -2,153,234 -2,273,262 -2,393,599 -2,514,421 -2,635,841 -2,757,939 -2,880,784 -3,004,433 -3,128,945 -3,254,373 -3,380,772 -3,508,197 -3,636,704 -3,766,351 -3,897,200 -4,029,313 -13,804,303
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal taxable IBI income ($) 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
minus:
Debt interest payment ($) 0 5,509,468 5,342,848 5,167,896 4,984,197 4,791,313 4,588,785 4,376,130 4,152,842 3,918,390 3,672,216 3,413,733 3,142,325 2,857,348 2,558,121 2,243,933 1,914,036 1,567,643 1,203,932 822,034 421,042
Total federal tax depreciation ($) 0 5,853,810 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621 11,707,621
equals:
Federal taxable income ($) 0 30,493,802 25,403,222 27,012,042 28,607,246 30,201,904 31,800,666 33,405,882 35,019,030 36,641,194 38,273,267 39,916,044 41,570,270 43,236,671 44,915,970 46,608,899 48,316,206 50,038,669 51,777,091 53,532,299 183,400,020
Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21
Federal tax benefit (liability) ($) 0 -6,403,699 -5,334,677 -5,672,529 -6,007,522 -6,342,400 -6,678,140 -7,015,235 -7,353,996 -7,694,651 -8,037,386 -8,382,369 -8,729,757 -9,079,701 -9,432,354 -9,787,869 -10,146,403 -10,508,120 -10,873,189 -11,241,783 -38,514,004
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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TAX CREDITS
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC percent income ($) 0 82,642,027 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC total income ($) 0 82,642,027 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
DEBT REPAYMENT
Debt balance ($) 110,189,370 106,856,958 103,357,926 99,683,942 95,826,259 91,775,692 87,522,596 83,056,846 78,367,808 73,444,319 68,274,654 62,846,507 57,146,952 51,162,420 44,878,661 38,280,714 31,352,869 24,078,633 16,440,684 8,420,838 0
Debt interest payment ($) 0 5,509,468 5,342,848 5,167,896 4,984,197 4,791,313 4,588,785 4,376,130 4,152,842 3,918,390 3,672,216 3,413,733 3,142,325 2,857,348 2,558,121 2,243,933 1,914,036 1,567,643 1,203,932 822,034 421,042
Debt principal payment ($) 0 3,332,412 3,499,032 3,673,984 3,857,683 4,050,567 4,253,096 4,465,750 4,689,038 4,923,490 5,169,664 5,428,147 5,699,555 5,984,532 6,283,759 6,597,947 6,927,844 7,274,237 7,637,948 8,019,846 8,420,838
Debt total payment ($) 0 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880
DSCR (DEBT FRACTION)
EBITDA ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
minus:
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 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) ($) 0 44,152,314 44,365,761 45,920,723 47,452,297 48,974,099 50,490,670 52,004,054 53,515,334 55,025,144 56,533,887 58,041,831 59,549,161 61,056,012 62,562,483 64,068,649 65,574,566 67,080,284 68,585,843 70,091,267 209,332,985
Debt total payment ($) 0 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880 8,841,880
DSCR (pre-tax) 0.0 4.99 5.02 5.19 5.37 5.54 5.71 5.88 6.05 6.22 6.39 6.56 6.73 6.91 7.08 7.25 7.42 7.59 7.76 7.93 23.68
RESERVES
Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest on reserves (%/year) 1.75
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
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