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*****************
***CASE REPORT***
*****************
Simulation Metadata
----------------------
GEOPHIRES Version: 3.13.4
Simulation Date: 2026-05-05
Simulation Time: 10:27
Calculation Time: 1.557 sec
***SUMMARY OF RESULTS***
End-Use Option: Electricity
Average Net Electricity Production: 481.71 MW
Electricity breakeven price: 3.84 cents/kWh
Total CAPEX: 1100.10 MUSD
Total CAPEX ($/kW): 2237 USD/kW
Number of production wells: 12
Number of injection wells: 12
Flowrate per production well: 80.0 kg/sec
Well depth: 3.9 kilometer
Geothermal gradient: 112 degC/km
***ECONOMIC PARAMETERS***
Economic Model = SAM Single Owner PPA
Real Discount Rate: 7.50 %
Nominal Discount Rate: 9.97 %
WACC: 7.35 %
Project lifetime: 25 yr
Capacity factor: 90.0 %
Project NPV: 2090.70 MUSD
After-tax IRR: 59.90 %
Project VIR=PI=PIR: 5.75
Project MOIC: 16.23
Project Payback Period: 2.69 yr
Estimated Jobs Created: 1026
***ENGINEERING PARAMETERS***
Number of Production Wells: 12
Number of Injection Wells: 12
Well depth: 3.9 kilometer
Water loss rate: 23.8 %
Pump efficiency: 80.0 %
Injection temperature: 63.0 degC
Production Wellbore heat transmission calculated with Ramey's model
Average production well temperature drop: 2.5 degC
Flowrate per production well: 80.0 kg/sec
Injection well casing ID: 9.625 in
Production well casing ID: 9.625 in
Number of times redrilling: 2
Power plant type: Double-Flash
***RESOURCE CHARACTERISTICS***
Maximum reservoir temperature: 600.0 degC
Number of segments: 1
Geothermal gradient: 112 degC/km
***RESERVOIR PARAMETERS***
Reservoir Model = Multiple Parallel Fractures Model (Gringarten)
Bottom-hole temperature: 449.92 degC
Fracture model = Square
Well separation: fracture height: 224.00 meter
Fracture area: 50176.00 m**2
Reservoir volume calculated with fracture separation and number of fractures as input
Number of fractures: 960
Fracture separation: 18.00 meter
Reservoir volume: 866138112 m**3
Reservoir hydrostatic pressure: 31965.60 kPa
Plant outlet pressure: 101.33 kPa
Injectivity Index: 5.48 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: 440.6 degC
Average Production Temperature: 436.8 degC
Minimum Production Temperature: 413.3 degC
Initial Production Temperature: 435.0 degC
Average Reservoir Heat Extraction: 1602.17 MW
Production Wellbore Heat Transmission Model = Ramey Model
Average Production Well Temperature Drop: 2.5 degC
Average Injection Well Pump Pressure Drop: -4010.1 kPa
***CAPITAL COSTS (M$)***
Exploration costs: 6.10 MUSD
Drilling and completion costs: 199.88 MUSD
Drilling and completion costs per vertical production well: 6.23 MUSD
Drilling and completion costs per vertical injection well: 6.23 MUSD
Drilling and completion costs per non-vertical section: 1.70 MUSD
Stimulation costs: 200.51 MUSD
Surface power plant costs: 664.94 MUSD
Field gathering system costs: 3.93 MUSD
Total surface equipment costs: 668.87 MUSD
Overnight Capital Cost: 1075.36 MUSD
Inflation costs during construction: 24.73 MUSD
Total CAPEX: 1100.10 MUSD
***OPERATING AND MAINTENANCE COSTS (M$/yr)***
Wellfield maintenance costs: 2.96 MUSD/yr
Power plant maintenance costs: 12.74 MUSD/yr
Water costs: 5.99 MUSD/yr
Redrilling costs: 32.03 MUSD/yr
Total operating and maintenance costs: 53.71 MUSD/yr
***SURFACE EQUIPMENT SIMULATION RESULTS***
Initial geofluid availability: 0.94 MW/(kg/s)
Maximum Total Electricity Generation: 491.74 MW
Average Total Electricity Generation: 481.71 MW
Minimum Total Electricity Generation: 420.61 MW
Initial Total Electricity Generation: 476.51 MW
Maximum Net Electricity Generation: 491.74 MW
Average Net Electricity Generation: 481.71 MW
Minimum Net Electricity Generation: 420.61 MW
Initial Net Electricity Generation: 476.51 MW
Average Annual Total Electricity Generation: 3797.82 GWh
Average Annual Net Electricity Generation: 3797.82 GWh
Average Pumping Power: 0.00 MW
Heat to Power Conversion Efficiency: 30.06 %
************************************************************
* 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 434.97 0.0000 476.5069 29.8917
2 1.0099 439.27 0.0000 488.1082 30.2692
3 1.0117 440.06 0.0000 490.2596 30.3388
4 1.0126 440.47 0.0000 491.3514 30.3741
5 1.0130 440.60 0.0000 491.7246 30.3861
6 1.0118 440.08 0.0000 490.3006 30.3401
7 1.0067 437.89 0.0000 484.3588 30.1476
8 0.9943 432.48 0.0000 469.8678 29.6740
9 0.9705 422.13 0.0000 442.9204 28.7778
10 1.0063 437.72 0.0000 483.9035 30.1328
11 1.0107 439.62 0.0000 489.0411 30.2994
12 1.0121 440.22 0.0000 490.6946 30.3528
13 1.0128 440.55 0.0000 491.5781 30.3814
14 1.0128 440.54 0.0000 491.5488 30.3804
15 1.0107 439.60 0.0000 489.0033 30.2981
16 1.0036 436.53 0.0000 480.6929 30.0283
17 0.9878 429.66 0.0000 462.4194 29.4284
18 0.9595 417.34 0.0000 430.7692 28.3666
19 1.0087 438.75 0.0000 486.6847 30.2231
20 1.0113 439.87 0.0000 489.7249 30.3215
21 1.0124 440.36 0.0000 491.0554 30.3645
22 1.0129 440.60 0.0000 491.7151 30.3858
23 1.0124 440.38 0.0000 491.1080 30.3662
24 1.0090 438.89 0.0000 487.0746 30.2357
25 0.9995 434.75 0.0000 475.9138 29.8723
*******************************************************************
* 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 3818.2 12665.8 695.70 6.15
2 3857.9 12728.6 649.88 12.33
3 3869.9 12747.6 603.99 18.52
4 3875.9 12757.0 558.06 24.72
5 3873.0 12752.4 512.15 30.91
6 3846.3 12710.3 466.40 37.08
7 3768.5 12586.7 421.08 43.20
8 3607.3 12325.0 376.71 49.18
9 3543.6 12215.2 332.74 55.11
10 3840.9 12701.8 287.01 61.28
11 3862.9 12736.4 241.16 67.47
12 3872.5 12751.7 195.26 73.66
13 3876.4 12757.8 149.33 79.86
14 3867.9 12744.3 103.45 86.04
15 3827.6 12680.8 57.80 92.20
16 3725.6 12517.6 12.73 98.28
17 3530.3 12197.6 -31.18 104.21
18 3671.1 12423.7 -75.90 110.24
19 3851.2 12718.1 -121.69 116.42
20 3866.7 12742.6 -167.56 122.60
21 3874.5 12754.9 -213.48 128.80
22 3875.6 12756.5 -259.40 134.99
23 3859.3 12730.8 -305.23 141.18
24 3802.2 12640.3 -350.74 147.31
25 3680.1 12444.1 -395.54 153.36
***************************
* 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 Year 21 Year 22 Year 23 Year 24 Year 25
CONSTRUCTION
Capital expenditure schedule [construction] (%) 100.0
Overnight capital expenditure [construction] ($) -1,075,364,115
plus:
Inflation cost [construction] ($) -24,733,375
plus:
Royalty supplemental payments [construction] ($) 0
equals:
Nominal capital expenditure [construction] ($) -1,100,097,490
Issuance of equity [construction] ($) 440,038,996
Issuance of debt [construction] ($) 660,058,494
Debt balance [construction] ($) 660,058,494
Debt interest payment [construction] ($) 0
Installed cost [construction] ($) -1,100,097,490
After-tax net cash flow [construction] ($) -440,038,996
ENERGY
Electricity to grid (kWh) 0.0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150
Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Electricity to grid net (kWh) 0.0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150
REVENUE
PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81
PPA revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 397,904,385
Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Capacity payment revenue ($) 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
Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 550,048,745
Total revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 947,953,130
Property tax net assessed value ($) 0 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490
OPERATING EXPENSES
O&M fixed expense ($) 0 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464
O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Electricity purchase ($) 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
Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Insurance expense ($) 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
Total operating expenses ($) 0 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464
EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
OPERATING ACTIVITIES
EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
Interest earned on reserves ($) 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
plus PBI if not available for debt service:
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 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
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 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
Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981
Cash flow from operating activities ($) 0 272,101,015 276,583,341 280,683,776 284,261,924 287,027,685 287,521,392 283,043,487 270,306,635 267,099,979 299,826,891 305,377,793 309,781,799 313,681,239 316,390,157 315,923,716 309,122,462 292,637,820 311,010,741 333,763,497 339,495,752 344,532,375 348,973,211 351,673,883 350,092,166 891,607,685
INVESTING ACTIVITIES
Total installed cost ($) -1,100,097,490
Debt closing costs ($) 0
Debt up-front fee ($) 0
minus:
Total IBI income ($) 0
Total CBI income ($) 0
equals:
Purchase of property ($) -1,100,097,490
plus:
Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease working capital ($) 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
Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 1 ($) 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
Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 3 ($) 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
Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 2 ($) 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
Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from investing activities ($) -1,100,097,490 0 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 ($) 440,038,996
Size of debt ($) 660,058,494
minus:
Debt principal payment ($) 0 12,724,928 13,437,524 14,190,026 14,984,667 15,823,808 16,709,942 17,645,698 18,633,858 19,677,354 20,779,285 21,942,925 23,171,729 24,469,346 25,839,629 27,286,649 28,814,701 30,428,324 32,132,310 33,931,720 35,831,896 37,838,482 39,957,437 42,195,054 44,557,977 47,053,223
equals:
Cash flow from financing activities ($) 1,100,097,490 -12,724,928 -13,437,524 -14,190,026 -14,984,667 -15,823,808 -16,709,942 -17,645,698 -18,633,858 -19,677,354 -20,779,285 -21,942,925 -23,171,729 -24,469,346 -25,839,629 -27,286,649 -28,814,701 -30,428,324 -32,132,310 -33,931,720 -35,831,896 -37,838,482 -39,957,437 -42,195,054 -44,557,977 -47,053,223
PROJECT RETURNS
Pre-tax Cash Flow:
Cash flow from operating activities ($) 0 272,101,015 276,583,341 280,683,776 284,261,924 287,027,685 287,521,392 283,043,487 270,306,635 267,099,979 299,826,891 305,377,793 309,781,799 313,681,239 316,390,157 315,923,716 309,122,462 292,637,820 311,010,741 333,763,497 339,495,752 344,532,375 348,973,211 351,673,883 350,092,166 891,607,685
Cash flow from investing activities ($) -1,100,097,490 0 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 ($) 1,100,097,490 -12,724,928 -13,437,524 -14,190,026 -14,984,667 -15,823,808 -16,709,942 -17,645,698 -18,633,858 -19,677,354 -20,779,285 -21,942,925 -23,171,729 -24,469,346 -25,839,629 -27,286,649 -28,814,701 -30,428,324 -32,132,310 -33,931,720 -35,831,896 -37,838,482 -39,957,437 -42,195,054 -44,557,977 -47,053,223
Total pre-tax cash flow ($) 0 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
Pre-tax Returns:
Issuance of equity ($) 440,038,996
Total pre-tax cash flow ($) 0 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
Total pre-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
After-tax Returns:
Total pre-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal PTC income ($) 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
Federal tax benefit (liability) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC total income ($) 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
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 0 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 after-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
After-tax net cash flow ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462
After-tax cumulative IRR (%) NaN -41.06 12.23 35.81 46.96 52.66 55.72 57.42 58.36 58.91 59.28 59.52 59.66 59.75 59.81 59.84 59.86 59.87 59.88 59.89 59.89 59.89 59.89 59.90 59.90 59.90
After-tax cumulative NPV ($) -440,038,996 -204,183,589 13,401,071 213,772,010 397,876,035 566,482,958 719,578,461 856,008,064 973,650,351 1,078,818,088 1,186,672,353 1,286,288,146 1,377,885,361 1,461,932,488 1,538,711,815 1,608,068,868 1,669,316,536 1,721,414,260 1,771,799,248 1,821,057,591 1,866,421,570 1,908,083,470 1,946,254,203 1,981,015,557 2,012,221,799 2,090,659,564
AFTER-TAX LCOE AND PPA PRICE
Annual costs ($) -440,038,996 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 446,650,077
PPA revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 397,904,385
Electricity to grid (kWh) 0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150
Present value of annual costs ($) 1,329,495,308
Present value of annual energy costs ($) 1,329,495,308
Present value of annual energy nominal (kWh) 34,643,496,619
LCOE Levelized cost of energy nominal (cents/kWh) 3.84
Present value of PPA revenue ($) 3,420,154,869
Present value of annual energy nominal (kWh) 34,643,496,619
LPPA Levelized PPA price nominal (cents/kWh) 9.87
PROJECT STATE INCOME TAXES
EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
State taxable PBI income ($) 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
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State taxable IBI income ($) 0
State taxable CBI income ($) 0
minus:
Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981
Total state tax depreciation ($) 0 27,502,437 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 27,502,437 0 0 0 0
equals:
State taxable income ($) 0 244,598,578 221,578,466 225,678,902 229,257,049 232,022,810 232,516,518 228,038,613 215,301,761 212,095,104 244,822,017 250,372,919 254,776,925 258,676,364 261,385,282 260,918,842 254,117,588 237,632,946 256,005,867 278,758,623 284,490,878 317,029,938 348,973,211 351,673,883 350,092,166 891,607,685
State income tax rate (frac) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
PROJECT FEDERAL INCOME TAXES
EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 0 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 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 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
Federal taxable IBI income ($) 0
Federal taxable CBI income ($) 0
Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
minus:
Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981
Total federal tax depreciation ($) 0 27,502,437 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 27,502,437 0 0 0 0
equals:
Federal taxable income ($) 0 244,598,578 221,578,466 225,678,902 229,257,049 232,022,810 232,516,518 228,038,613 215,301,761 212,095,104 244,822,017 250,372,919 254,776,925 258,676,364 261,385,282 260,918,842 254,117,588 237,632,946 256,005,867 278,758,623 284,490,878 317,029,938 348,973,211 351,673,883 350,092,166 891,607,685
Federal income tax rate (frac) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 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) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
CASH INCENTIVES
Federal IBI income ($) 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
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 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
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total PBI income ($) 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
TAX CREDITS
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 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
Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC percent income ($) 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
Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC amount income ($) 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
State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC total income ($) 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
DEBT REPAYMENT
Debt balance ($) 660,058,494 647,333,565 633,896,041 619,706,016 604,721,348 588,897,540 572,187,598 554,541,900 535,908,042 516,230,689 495,451,403 473,508,478 450,336,749 425,867,403 400,027,773 372,741,125 343,926,424 313,498,100 281,365,789 247,434,069 211,602,173 173,763,691 133,806,254 91,611,200 47,053,223 0
Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981
Debt principal payment ($) 0 12,724,928 13,437,524 14,190,026 14,984,667 15,823,808 16,709,942 17,645,698 18,633,858 19,677,354 20,779,285 21,942,925 23,171,729 24,469,346 25,839,629 27,286,649 28,814,701 30,428,324 32,132,310 33,931,720 35,831,896 37,838,482 39,957,437 42,195,054 44,557,977 47,053,223
Debt total payment ($) 0 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204
DSCR (DEBT FRACTION)
EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
minus:
Reserves major equipment 1 funding ($) 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
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 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
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash available for debt service (CAFDS) ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666
Debt total payment ($) 0 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204
DSCR (pre-tax) 0.0 6.22 6.30 6.36 6.42 6.46 6.45 6.34 6.07 5.98 6.62 6.70 6.77 6.82 6.85 6.81 6.64 6.28 6.61 7.03 7.11 7.17 7.22 7.23 7.15 18.0
RESERVES
Reserves working capital funding ($) 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
Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital balance ($) 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
Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service disbursement ($) 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
Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 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
Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables balance ($) 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
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 disbursement ($) 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
Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 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
Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 balance ($) 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
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 disbursement ($) 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
Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves total reserves balance ($) 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
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
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