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*****************
***CASE REPORT***
*****************
Simulation Metadata
----------------------
GEOPHIRES Version: 3.14.1
Simulation Date: 2026-06-18
Simulation Time: 10:42
Calculation Time: 1.819 sec
***SUMMARY OF RESULTS***
End-Use Option: Electricity
Average Net Electricity Production: 510.16 MW
Electricity breakeven price: 8.50 cents/kWh
Total CAPEX: 2865.75 MUSD
Total CAPEX ($/kW): 5595 USD/kW
Number of production wells: 56
Number of injection wells: 38
Flowrate per production well: 107.0 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: 8.31 %
Investment Tax Credit: 859.72 MUSD
Project lifetime: 30 yr
Capacity factor: 91.3 %
Project NPV: 199.08 MUSD
After-tax IRR: 22.40 %
Project VIR=PI=PIR: 1.33
Project MOIC: 4.31
Project Payback Period: 5.95 yr
Estimated Jobs Created: 1273
***ENGINEERING PARAMETERS***
Number of Production Wells: 56
Number of Injection Wells: 38
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: 0.2 degC
Flowrate per production well: 107.0 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: 14100
Fracture separation: 9.83 meter
Reservoir volume: 4225156597 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: 203.3 degC
Average Production Temperature: 203.0 degC
Minimum Production Temperature: 201.5 degC
Initial Production Temperature: 201.9 degC
Average Reservoir Heat Extraction: 3670.68 MW
Production Wellbore Heat Transmission Model = Ramey Model
Average Production Well Temperature Drop: 0.2 degC
Average Injection Well Pump Pressure Drop: -1181.6 kPa
Average Production Well Pump Pressure Drop: 10257.1 kPa
***CAPITAL COSTS (M$)***
Exploration costs: 30.00 MUSD
Drilling and completion costs: 436.98 MUSD
Drilling and completion costs per well: 4.65 MUSD
Stimulation costs: 454.02 MUSD
Stimulation costs per well: 4.83 MUSD
Surface power plant costs: 1467.83 MUSD
Field gathering system costs: 48.33 MUSD
Total surface equipment costs: 1516.16 MUSD
Overnight Capital Cost: 2437.17 MUSD
Inflation costs during construction: 285.92 MUSD
Interest during construction: 142.66 MUSD
Total CAPEX: 2865.75 MUSD
***OPERATING AND MAINTENANCE COSTS (M$/yr)***
Wellfield maintenance costs: 5.81 MUSD/yr
Power plant maintenance costs: 24.87 MUSD/yr
Water costs: 3.19 MUSD/yr
Redrilling costs: 89.10 MUSD/yr
Average Annual Royalty Cost: 12.36 MUSD/yr
Total operating and maintenance costs: 135.33 MUSD/yr
***SURFACE EQUIPMENT SIMULATION RESULTS***
Initial geofluid availability: 0.19 MW/(kg/s)
Maximum Total Electricity Generation: 599.80 MW
Average Total Electricity Generation: 597.81 MW
Minimum Total Electricity Generation: 587.03 MW
Initial Total Electricity Generation: 589.96 MW
Maximum Net Electricity Generation: 512.21 MW
Average Net Electricity Generation: 510.16 MW
Minimum Net Electricity Generation: 499.10 MW
Initial Net Electricity Generation: 502.22 MW
Average Annual Total Electricity Generation: 4781.29 GWh
Average Annual Net Electricity Generation: 4080.29 GWh
Initial pumping power/net installed power: 17.47 %
Average Pumping Power: 87.65 MW
Heat to Power Conversion Efficiency: 13.90 %
************************************************************
* 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 201.90 87.7368 502.2182 13.7848
2 1.0049 202.88 87.7057 509.2920 13.8852
3 1.0058 203.06 87.7000 510.6083 13.9038
4 1.0062 203.16 87.6970 511.2933 13.9134
5 1.0065 203.22 87.6950 511.7461 13.9198
6 1.0068 203.26 87.6939 512.0590 13.9242
7 1.0066 203.23 87.7011 511.8487 13.9212
8 1.0039 202.67 87.7758 507.7575 13.8627
9 1.0031 202.52 87.6882 506.7524 13.8497
10 1.0053 202.96 87.6819 509.8839 13.8939
11 1.0059 203.10 87.6700 510.9042 13.9083
12 1.0063 203.18 87.6532 511.5053 13.9170
13 1.0066 203.23 87.6347 511.9262 13.9231
14 1.0068 203.27 87.6198 512.1801 13.9269
15 1.0062 203.16 87.6271 511.3633 13.9153
16 1.0011 202.12 87.7574 503.8207 13.8073
17 1.0043 202.76 87.5963 508.5351 13.8760
18 1.0055 203.02 87.5948 510.3876 13.9021
19 1.0061 203.13 87.5942 511.2037 13.9135
20 1.0065 203.20 87.5941 511.7134 13.9207
21 1.0067 203.25 87.5943 512.0726 13.9257
22 1.0068 203.26 87.5978 512.1650 13.9270
23 1.0054 202.99 87.6375 510.1608 13.8983
24 1.0000 201.90 87.5945 502.3605 13.7887
25 1.0049 202.88 87.5946 509.4031 13.8883
26 1.0058 203.06 87.5948 510.7135 13.9067
27 1.0062 203.16 87.5949 511.3954 13.9162
28 1.0065 203.22 87.5950 511.8461 13.9225
29 1.0068 203.26 87.5954 512.1575 13.9269
30 1.0066 203.23 87.6039 511.9458 13.9238
*******************************************************************
* 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 4054.7 29270.6 1285.13 7.58
2 4079.2 29356.0 1179.45 15.18
3 4086.7 29382.0 1073.67 22.79
4 4091.2 29397.4 967.84 30.40
5 4094.2 29408.0 861.97 38.01
6 4095.3 29411.9 756.09 45.62
7 4082.5 29368.1 650.37 53.23
8 4029.9 29185.9 545.30 60.78
9 4068.9 29319.4 439.75 68.37
10 4082.5 29366.7 334.03 75.98
11 4088.7 29387.9 228.23 83.59
12 4092.7 29401.3 122.39 91.20
13 4095.5 29410.6 16.51 98.81
14 4094.7 29407.5 -89.36 106.43
15 4068.1 29316.1 -194.90 114.02
16 4035.4 29201.6 -300.02 121.58
17 4076.0 29341.6 -405.65 129.17
18 4085.6 29375.1 -511.40 136.78
19 4090.7 29392.9 -617.22 144.39
20 4094.1 29404.9 -723.07 152.00
21 4096.2 29412.2 -828.96 159.62
22 4091.2 29395.1 -934.78 167.23
23 4043.0 29229.8 -1040.01 174.79
24 4055.6 29270.6 -1145.38 182.37
25 4080.1 29356.0 -1251.06 189.97
26 4087.6 29382.0 -1356.84 197.58
27 4092.0 29397.4 -1462.67 205.19
28 4095.0 29408.0 -1568.54 212.80
29 4096.1 29411.9 -1674.42 220.42
30 4085.0 29373.9 -1780.17 228.02
***************************
* SAM CASH FLOW PROFILE *
***************************
--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Year -4 Year -3 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] (%) 1.40 2.70 13.90 43.10 38.90
Overnight capital expenditure [construction] ($) -34,120,326 -65,803,486 -338,766,095 -1,050,418,611 -948,057,633
plus:
Inflation cost [construction] ($) -921,249 -3,601,359 -28,187,603 -118,123,001 -135,088,260
plus:
Royalty supplemental payments [construction] ($) 0 0 0 0 0
equals:
Nominal capital expenditure [construction] ($) -35,041,575 -69,404,845 -366,953,698 -1,168,541,612 -1,083,145,892
Issuance of equity [construction] ($) 35,041,575 69,404,845 110,086,109 350,562,484 324,943,768
Issuance of debt [construction] ($) 0 0 256,867,589 817,979,128 758,202,125
Debt balance [construction] ($) 0 0 256,867,589 1,101,817,814 1,975,710,809
Debt interest payment [construction] ($) 0 0 0 26,971,097 115,690,870
Installed cost [construction] ($) -35,041,575 -69,404,845 -366,953,698 -1,195,512,709 -1,198,836,763
After-tax net cash flow [construction] ($) -35,041,575 -69,404,845 -110,086,109 -350,562,484 -324,943,768
ENERGY
Electricity to grid (kWh) 0.0 4,054,938,133 4,079,520,433 4,087,016,128 4,091,449,550 4,094,510,825 4,095,611,909 4,082,802,769 4,030,125,101 4,069,160,329 4,082,788,809 4,088,989,704 4,093,001,481 4,095,795,048 4,094,956,942 4,068,327,774 4,035,658,758 4,076,236,989 4,085,860,173 4,090,985,698 4,094,414,529 4,096,513,633 4,091,473,483 4,043,293,305 4,055,908,855 4,080,382,373 4,087,844,336 4,092,257,517 4,095,304,421 4,096,394,187 4,085,274,831
Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Electricity to grid net (kWh) 0.0 4,054,938,133 4,079,520,433 4,087,016,128 4,091,449,550 4,094,510,825 4,095,611,909 4,082,802,769 4,030,125,101 4,069,160,329 4,082,788,809 4,088,989,704 4,093,001,481 4,095,795,048 4,094,956,942 4,068,327,774 4,035,658,758 4,076,236,989 4,085,860,173 4,090,985,698 4,094,414,529 4,096,513,633 4,091,473,483 4,043,293,305 4,055,908,855 4,080,382,373 4,087,844,336 4,092,257,517 4,095,304,421 4,096,394,187 4,085,274,831
REVENUE
PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10
PPA revenue ($) 0 385,219,123 387,554,441 390,596,131 393,351,960 395,980,142 398,421,126 399,502,251 396,644,912 402,806,181 406,482,454 409,430,539 412,165,249 414,781,164 417,030,415 416,637,447 415,592,139 422,094,340 425,419,761 428,285,293 430,978,073 433,534,038 435,332,779 432,511,085 436,172,438 441,130,138 444,266,922 447,079,134 449,746,331 452,200,954 453,302,095
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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,432,874,795
Total revenue ($) 0 385,219,123 387,554,441 390,596,131 393,351,960 395,980,142 398,421,126 399,502,251 396,644,912 402,806,181 406,482,454 409,430,539 412,165,249 414,781,164 417,030,415 416,637,447 415,592,139 422,094,340 425,419,761 428,285,293 430,978,073 433,534,038 435,332,779 432,511,085 436,172,438 441,130,138 444,266,922 447,079,134 449,746,331 452,200,954 1,886,176,890
Property tax net assessed value ($) 0 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589 2,865,749,589
OPERATING EXPENSES
O&M fixed expense ($) 0 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589 122,972,589
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 ($) 0 6,741,335 6,782,203 6,835,432 6,883,659 6,929,652 6,972,370 6,991,289 6,941,286 7,049,108 7,113,443 14,330,069 14,425,784 14,517,341 14,596,065 14,582,311 14,545,725 14,773,302 14,889,692 14,989,985 15,084,233 15,173,691 15,236,647 15,137,888 15,266,035 15,439,555 15,549,342 15,647,770 15,741,122 15,827,033 15,865,573
O&M capacity-based expense ($) 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 ($) 0 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649 6,304,649
Insurance expense ($) 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 ($) 0 136,018,573 136,059,441 136,112,670 136,160,897 136,206,891 136,249,608 136,268,527 136,218,524 136,326,346 136,390,681 143,607,307 143,703,022 143,794,579 143,873,303 143,859,549 143,822,963 144,050,540 144,166,930 144,267,223 144,361,471 144,450,929 144,513,885 144,415,126 144,543,273 144,716,793 144,826,580 144,925,008 145,018,360 145,104,271 145,142,811
EBITDA ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
OPERATING ACTIVITIES
EBITDA ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
Interest earned on reserves ($) 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 ($) 0 138,299,757 136,835,660 135,269,076 133,592,831 131,799,249 129,880,117 127,826,645 125,629,430 123,278,410 120,762,819 118,071,136 115,191,036 112,109,328 108,811,901 105,283,654 101,508,430 97,468,940 93,146,686 88,521,874 83,573,325 78,278,378 72,612,785 66,550,600 60,064,061 53,123,466 45,697,028 37,750,740 29,248,212 20,150,507 10,415,963
Cash flow from operating activities ($) 0 110,900,793 114,659,341 119,214,385 123,598,231 127,974,002 132,291,402 135,407,079 134,796,958 143,201,425 149,328,954 147,752,096 153,271,192 158,877,257 164,345,211 167,494,244 170,260,746 180,574,860 188,106,145 195,496,195 203,043,277 210,804,730 218,206,109 221,545,359 231,565,103 243,289,880 253,743,314 264,403,386 275,479,760 286,946,176 1,730,618,116
INVESTING ACTIVITIES
Total installed cost ($) -2,865,749,589
Debt closing costs ($) 0
Debt up-front fee ($) 0
minus:
Total IBI income ($) 0
Total CBI income ($) 0
equals:
Purchase of property ($) -2,865,749,589
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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from investing activities ($) -2,865,749,589 0 0 0 0 0 0 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 ($) 890,038,781
Size of debt ($) 1,975,710,809
minus:
Debt principal payment ($) 0 20,915,672 22,379,769 23,946,353 25,622,597 27,416,179 29,335,312 31,388,784 33,585,998 35,937,018 38,452,610 41,144,292 44,024,393 47,106,100 50,403,527 53,931,774 57,706,998 61,746,488 66,068,742 70,693,554 75,642,103 80,937,050 86,602,644 92,664,829 99,151,367 106,091,963 113,518,400 121,464,688 129,967,216 139,064,921 148,799,466
equals:
Cash flow from financing activities ($) 2,865,749,589 -20,915,672 -22,379,769 -23,946,353 -25,622,597 -27,416,179 -29,335,312 -31,388,784 -33,585,998 -35,937,018 -38,452,610 -41,144,292 -44,024,393 -47,106,100 -50,403,527 -53,931,774 -57,706,998 -61,746,488 -66,068,742 -70,693,554 -75,642,103 -80,937,050 -86,602,644 -92,664,829 -99,151,367 -106,091,963 -113,518,400 -121,464,688 -129,967,216 -139,064,921 -148,799,466
PROJECT RETURNS
Pre-tax Cash Flow:
Cash flow from operating activities ($) 0 110,900,793 114,659,341 119,214,385 123,598,231 127,974,002 132,291,402 135,407,079 134,796,958 143,201,425 149,328,954 147,752,096 153,271,192 158,877,257 164,345,211 167,494,244 170,260,746 180,574,860 188,106,145 195,496,195 203,043,277 210,804,730 218,206,109 221,545,359 231,565,103 243,289,880 253,743,314 264,403,386 275,479,760 286,946,176 1,730,618,116
Cash flow from investing activities ($) -2,865,749,589 0 0 0 0 0 0 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 ($) 2,865,749,589 -20,915,672 -22,379,769 -23,946,353 -25,622,597 -27,416,179 -29,335,312 -31,388,784 -33,585,998 -35,937,018 -38,452,610 -41,144,292 -44,024,393 -47,106,100 -50,403,527 -53,931,774 -57,706,998 -61,746,488 -66,068,742 -70,693,554 -75,642,103 -80,937,050 -86,602,644 -92,664,829 -99,151,367 -106,091,963 -113,518,400 -121,464,688 -129,967,216 -139,064,921 -148,799,466
Total pre-tax cash flow ($) 0 89,985,121 92,279,572 95,268,032 97,975,634 100,557,823 102,956,090 104,018,295 101,210,960 107,264,406 110,876,344 106,607,804 109,246,799 111,771,157 113,941,684 113,562,470 112,553,748 118,828,372 122,037,403 124,802,641 127,401,174 129,867,680 131,603,465 128,880,530 132,413,736 137,197,917 140,224,914 142,938,698 145,512,543 147,881,254 1,581,818,650
Pre-tax Returns:
Issuance of equity ($) 890,038,781
Total pre-tax cash flow ($) 0 89,985,121 92,279,572 95,268,032 97,975,634 100,557,823 102,956,090 104,018,295 101,210,960 107,264,406 110,876,344 106,607,804 109,246,799 111,771,157 113,941,684 113,562,470 112,553,748 118,828,372 122,037,403 124,802,641 127,401,174 129,867,680 131,603,465 128,880,530 132,413,736 137,197,917 140,224,914 142,938,698 145,512,543 147,881,254 1,581,818,650
Total pre-tax returns ($) -890,038,781 89,985,121 92,279,572 95,268,032 97,975,634 100,557,823 102,956,090 104,018,295 101,210,960 107,264,406 110,876,344 106,607,804 109,246,799 111,771,157 113,941,684 113,562,470 112,553,748 118,828,372 122,037,403 124,802,641 127,401,174 129,867,680 131,603,465 128,880,530 132,413,736 137,197,917 140,224,914 142,938,698 145,512,543 147,881,254 1,581,818,650
After-tax Returns:
Total pre-tax returns ($) -890,038,781 89,985,121 92,279,572 95,268,032 97,975,634 100,557,823 102,956,090 104,018,295 101,210,960 107,264,406 110,876,344 106,607,804 109,246,799 111,771,157 113,941,684 113,562,470 112,553,748 118,828,372 122,037,403 124,802,641 127,401,174 129,867,680 131,603,465 128,880,530 132,413,736 137,197,917 140,224,914 142,938,698 145,512,543 147,881,254 1,581,818,650
Federal ITC total income ($) 0 859,724,877 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal PTC income ($) 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) ($) 0 -10,022,975 1,430,178 517,143 -361,577 -1,238,679 -2,104,080 -2,728,602 -2,606,306 -4,290,940 -5,519,172 -5,203,099 -6,309,374 -7,433,082 -8,529,106 -9,160,314 -9,714,845 -11,782,258 -13,291,866 -14,773,165 -16,285,940 -30,048,219 -43,738,323 -44,407,660 -46,416,067 -48,766,240 -50,861,579 -52,998,337 -55,218,540 -57,516,926 -346,893,748
State ITC total income ($) 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 -2,275,164 324,643 117,389 -82,076 -281,174 -477,616 -619,379 -591,618 -974,022 -1,252,824 -1,181,077 -1,432,196 -1,687,272 -1,936,064 -2,079,345 -2,205,221 -2,674,513 -3,017,186 -3,353,434 -3,696,826 -6,820,794 -9,928,378 -10,080,314 -10,536,212 -11,069,690 -11,545,321 -12,030,354 -12,534,329 -13,056,051 -78,743,124
Total after-tax returns ($) -890,038,781 937,411,859 94,034,394 95,902,564 97,531,980 99,037,970 100,374,395 100,670,314 98,013,035 101,999,445 104,104,348 100,223,628 101,505,229 102,650,803 103,476,514 102,322,811 100,633,682 104,371,601 105,728,350 106,676,042 107,418,409 92,998,667 77,936,763 74,392,557 75,461,457 77,361,987 77,818,014 77,910,007 77,759,674 77,308,277 1,156,181,778
After-tax net cash flow ($) -35,041,575 -69,404,845 -110,086,109 -350,562,484 -324,943,768 937,411,859 94,034,394 95,902,564 97,531,980 99,037,970 100,374,395 100,670,314 98,013,035 101,999,445 104,104,348 100,223,628 101,505,229 102,650,803 103,476,514 102,322,811 100,633,682 104,371,601 105,728,350 106,676,042 107,418,409 92,998,667 77,936,763 74,392,557 75,461,457 77,361,987 77,818,014 77,910,007 77,759,674 77,308,277 1,156,181,778
After-tax cumulative IRR (%) NaN NaN NaN NaN NaN 2.57 7.06 10.68 13.46 15.55 17.13 18.32 19.19 19.88 20.42 20.82 21.14 21.39 21.60 21.75 21.88 21.98 22.06 22.13 22.18 22.22 22.25 22.27 22.28 22.30 22.31 22.32 22.33 22.33 22.40
After-tax cumulative NPV ($) -35,041,575 -95,381,022 -178,587,203 -408,943,473 -594,576,116 -129,002,766 -88,399,971 -52,399,271 -20,569,075 7,530,874 32,290,170 53,878,959 72,152,480 88,685,331 103,355,339 115,633,777 126,444,954 135,950,092 144,280,176 151,441,471 157,564,609 163,085,696 167,948,034 172,213,163 175,947,002 178,757,382 180,804,968 182,504,154 184,002,625 185,338,181 186,506,136 187,522,737 188,404,849 189,167,290 199,080,591
AFTER-TAX LCOE AND PPA PRICE
Annual costs ($) -35,041,575 -69,404,845 -110,086,109 -350,562,484 -324,943,768 552,192,737 -293,520,048 -294,693,568 -295,819,980 -296,942,172 -298,046,732 -298,831,937 -298,631,877 -300,806,736 -302,378,106 -309,206,911 -310,660,020 -312,130,361 -313,553,901 -314,314,636 -314,958,457 -317,722,739 -319,691,411 -321,609,250 -323,559,665 -340,535,371 -357,396,015 -358,118,528 -360,710,981 -363,768,151 -366,448,908 -369,169,127 -371,986,658 -374,892,677 702,879,682
PPA revenue ($) 0 0 0 0 0 385,219,123 387,554,441 390,596,131 393,351,960 395,980,142 398,421,126 399,502,251 396,644,912 402,806,181 406,482,454 409,430,539 412,165,249 414,781,164 417,030,415 416,637,447 415,592,139 422,094,340 425,419,761 428,285,293 430,978,073 433,534,038 435,332,779 432,511,085 436,172,438 441,130,138 444,266,922 447,079,134 449,746,331 452,200,954 453,302,095
Electricity to grid (kWh) 0 0 0 0 0 4,054,938,133 4,079,520,433 4,087,016,128 4,091,449,550 4,094,510,825 4,095,611,909 4,082,802,769 4,030,125,101 4,069,160,329 4,082,788,809 4,088,989,704 4,093,001,481 4,095,795,048 4,094,956,942 4,068,327,774 4,035,658,758 4,076,236,989 4,085,860,173 4,090,985,698 4,094,414,529 4,096,513,633 4,091,473,483 4,043,293,305 4,055,908,855 4,080,382,373 4,087,844,336 4,092,257,517 4,095,304,421 4,096,394,187 4,085,274,831
Present value of annual costs ($) 1,298,529,377
Present value of annual energy costs ($) 1,298,529,377
Present value of annual energy nominal (kWh) 15,275,465,377
LCOE Levelized cost of energy nominal (cents/kWh) 8.50
Present value of PPA revenue ($) 1,497,609,968
Present value of annual energy nominal (kWh) 15,275,465,377
LPPA Levelized PPA price nominal (cents/kWh) 9.80
PROJECT STATE INCOME TAXES
EBITDA ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
State taxable PBI income ($) 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 ($) 0
minus:
Debt interest payment ($) 0 138,299,757 136,835,660 135,269,076 133,592,831 131,799,249 129,880,117 127,826,645 125,629,430 123,278,410 120,762,819 118,071,136 115,191,036 112,109,328 108,811,901 105,283,654 101,508,430 97,468,940 93,146,686 88,521,874 83,573,325 78,278,378 72,612,785 66,550,600 60,064,061 53,123,466 45,697,028 37,750,740 29,248,212 20,150,507 10,415,963
Total state tax depreciation ($) 0 60,897,179 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 60,897,179 0 0 0 0 0 0 0 0 0
equals:
State taxable income ($) 0 50,003,614 -7,135,017 -2,579,972 1,803,874 6,179,644 10,497,044 13,612,721 13,002,601 21,407,067 27,534,596 25,957,738 31,476,834 37,082,900 42,550,854 45,699,887 48,466,388 58,780,502 66,311,788 73,701,838 81,248,920 149,907,552 218,206,109 221,545,359 231,565,103 243,289,880 253,743,314 264,403,386 275,479,760 286,946,176 1,730,618,116
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) ($) 0 -2,275,164 324,643 117,389 -82,076 -281,174 -477,616 -619,379 -591,618 -974,022 -1,252,824 -1,181,077 -1,432,196 -1,687,272 -1,936,064 -2,079,345 -2,205,221 -2,674,513 -3,017,186 -3,353,434 -3,696,826 -6,820,794 -9,928,378 -10,080,314 -10,536,212 -11,069,690 -11,545,321 -12,030,354 -12,534,329 -13,056,051 -78,743,124
PROJECT FEDERAL INCOME TAXES
EBITDA ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
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 -2,275,164 324,643 117,389 -82,076 -281,174 -477,616 -619,379 -591,618 -974,022 -1,252,824 -1,181,077 -1,432,196 -1,687,272 -1,936,064 -2,079,345 -2,205,221 -2,674,513 -3,017,186 -3,353,434 -3,696,826 -6,820,794 -9,928,378 -10,080,314 -10,536,212 -11,069,690 -11,545,321 -12,030,354 -12,534,329 -13,056,051 -78,743,124
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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
minus:
Debt interest payment ($) 0 138,299,757 136,835,660 135,269,076 133,592,831 131,799,249 129,880,117 127,826,645 125,629,430 123,278,410 120,762,819 118,071,136 115,191,036 112,109,328 108,811,901 105,283,654 101,508,430 97,468,940 93,146,686 88,521,874 83,573,325 78,278,378 72,612,785 66,550,600 60,064,061 53,123,466 45,697,028 37,750,740 29,248,212 20,150,507 10,415,963
Total federal tax depreciation ($) 0 60,897,179 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 121,794,358 60,897,179 0 0 0 0 0 0 0 0 0
equals:
Federal taxable income ($) 0 47,728,450 -6,810,374 -2,462,584 1,721,798 5,898,471 10,019,429 12,993,342 12,410,982 20,433,045 26,281,772 24,776,661 30,044,638 35,395,628 40,614,790 43,620,542 46,261,168 56,105,990 63,294,601 70,348,404 77,552,094 143,086,758 208,277,731 211,465,045 221,028,891 232,220,190 242,197,993 252,373,032 262,945,430 273,890,125 1,651,874,992
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) ($) 0 -10,022,975 1,430,178 517,143 -361,577 -1,238,679 -2,104,080 -2,728,602 -2,606,306 -4,290,940 -5,519,172 -5,203,099 -6,309,374 -7,433,082 -8,529,106 -9,160,314 -9,714,845 -11,782,258 -13,291,866 -14,773,165 -16,285,940 -30,048,219 -43,738,323 -44,407,660 -46,416,067 -48,766,240 -50,861,579 -52,998,337 -55,218,540 -57,516,926 -346,893,748
CASH INCENTIVES
Federal IBI income ($) 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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC percent income ($) 0 859,724,877 0 0 0 0 0 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 ($) 0 859,724,877 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC amount income ($) 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 ($) 1,975,710,809 1,954,795,137 1,932,415,368 1,908,469,015 1,882,846,418 1,855,430,239 1,826,094,927 1,794,706,143 1,761,120,145 1,725,183,127 1,686,730,517 1,645,586,225 1,601,561,832 1,554,455,732 1,504,052,205 1,450,120,431 1,392,413,432 1,330,666,944 1,264,598,202 1,193,904,647 1,118,262,544 1,037,325,494 950,722,850 858,058,021 758,906,654 652,814,691 539,296,291 417,831,603 287,864,387 148,799,466 0
Debt interest payment ($) 0 138,299,757 136,835,660 135,269,076 133,592,831 131,799,249 129,880,117 127,826,645 125,629,430 123,278,410 120,762,819 118,071,136 115,191,036 112,109,328 108,811,901 105,283,654 101,508,430 97,468,940 93,146,686 88,521,874 83,573,325 78,278,378 72,612,785 66,550,600 60,064,061 53,123,466 45,697,028 37,750,740 29,248,212 20,150,507 10,415,963
Debt principal payment ($) 0 20,915,672 22,379,769 23,946,353 25,622,597 27,416,179 29,335,312 31,388,784 33,585,998 35,937,018 38,452,610 41,144,292 44,024,393 47,106,100 50,403,527 53,931,774 57,706,998 61,746,488 66,068,742 70,693,554 75,642,103 80,937,050 86,602,644 92,664,829 99,151,367 106,091,963 113,518,400 121,464,688 129,967,216 139,064,921 148,799,466
Debt total payment ($) 0 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428
DSCR (DEBT FRACTION)
EBITDA ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
minus:
Reserves major equipment 1 funding ($) 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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash available for debt service (CAFDS) ($) 0 249,200,550 251,495,000 254,483,461 257,191,062 259,773,251 262,171,519 263,233,723 260,426,388 266,479,835 270,091,773 265,823,232 268,462,227 270,986,586 273,157,112 272,777,899 271,769,176 278,043,800 281,252,831 284,018,069 286,616,603 289,083,108 290,818,893 288,095,959 291,629,165 296,413,345 299,440,342 302,154,126 304,727,972 307,096,683 1,741,034,078
Debt total payment ($) 0 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428 159,215,428
DSCR (pre-tax) 0.0 1.57 1.58 1.60 1.62 1.63 1.65 1.65 1.64 1.67 1.70 1.67 1.69 1.70 1.72 1.71 1.71 1.75 1.77 1.78 1.80 1.82 1.83 1.81 1.83 1.86 1.88 1.90 1.91 1.93 10.94
RESERVES
Reserves working capital funding ($) 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
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***EXTENDED ECONOMICS***
Royalty Holder NPV: 137.99 MUSD
Royalty Holder Average Annual Revenue: 10.60 MUSD/yr
Royalty Holder Total Revenue: 370.86 MUSD