Determination of Generic Levellised Generation Tariff For The FY 2014-15

CENTRAL ELECTRICITY REGULATORY COMMISSION
NEW DELHI
Petition No. SM/354/2013 (Suo-Motu)
Coram:
1. Shri Gireesh B. Pradhan, Chairperson

2. Shri M. Deena Dayalan, Member
3. Shri A. K. Singhal, Member
4. Smt. Neerja Mathur, Member (Ex. Officio)
Date of hearing: 11th March, 2014

Date of Order: 15th May, 2014
IN THE MATTER OF
Determination of generic levellised generation tariff for the FY 2014-15 under
Regulation 8 of the Central Electricity Regulatory Commission (Terms and Conditions for Tariff
determination from Renewable Energy Sources) Regulations, 2012.
ORDER
1. The Commission has notified the Central Electricity Regulatory Commission (Terms and
Conditions for Tariff determination from Renewable Energy Sources) Regulations, 2012,
on 06.02.2012 (hereinafter referred to as the RE Tariff Regulations), which provide for
terms and conditions and the procedure for determination of tariff of the following
categories of Renewable Energy (RE) generating stations:
(a) Wind Power Project;
(b) Small Hydro Projects;
(c) Biomass Power Projects with Rankine Cycle technology;
(d) Non-fossil fuel-based co-generation Plants;
(e) Solar Photo voltaic (PV);
(f) Solar Thermal Power Projects;
(g) Biomass Gasifier based Power Projects; and
(h) Biogas based Power Project.
Order in Petition No.SM/354/2013
Page 1
2. The Commission, in the meanwhile, has notified the Central Electricity Regulatory
Commission (Terms and Conditions for Tariff determination from Renewable Energy
Sources) (First Amendment) Regulations, 2014 (hereinafter referred to as the RE Tariff
(First Amendment) Regulations), on 18.03.2014, wherein, various technical norms of
Biomass Power Projects with Rankine Cycle technology have been amended. These
norms are effective from the notification of the First Amendment Regulations.
3. The Regulations enjoin upon the Commission to determine the generic tariff on the
basis of the suo-motu petition, for the RE technologies for which norms have been
provided in the RE Tariff Regulations. Generic Tariff is different from the project specific
tariff for which a project developer has to file petition before the Commission as per the
format provided in the RE Tariff Regulations. Pertinently, project specific tariff has been
envisaged for the new RE technologies and the technologies which are still at the
nascent stage of development, and the Commission shall determine the project specific
tariff for such technologies on a case to case basis.
4. Clause (1) of Regulation 8 of the RE Tariff Regulations provides that the Commission
shall determine the generic tariff on the basis of suo-motu petition at least six months in
advance at the beginning of each year of the Control period for renewable energy
technologies for which norms have been specified under the Regulations. The
Commission has notified the RE Tariff Regulations on 06.02.2012 and subsequently
issued generic suomotu tariff orders, which were applicable for the renewable energy
projects to be commissioned during first and second year of the control period (i.e.
FY2012-13 and FY 2013-14). The Commission, in due discharge of the mandate under
Regulation 8(1) of the RE Tariff Regulations has determined the generic tariff of the RE
projects for the third year of control period (i.e. FY 2014-15) through this order.
5. The Commission issued Order proposing Determination of generic levellised generation

tariff for the FY2014-15 under Regulation 8 of the Central Electricity Regulatory
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Commission (Terms and Conditions for Tariff determination from Renewable Energy
Sources) Regulations, 2012. (Petition No. 354/SM/2013) dated 7th January, 2014 for
inviting comments/suggestions/objections from the stakeholders. A Public Notice was
issued on 8th January, 2014 for inviting comments/suggestions/objections. Last date of
submission of comments/suggestions/objections was kept on 31st January, 2014.
6. In response to the same, written comments /suggestions/objections have been received

from following stakeholders:
i.
M/s Rajasthan Biomass Power Developers Association
ii.
M/s Malwa Power Private Limited
iii.
M/s Punjab Biomass Power Limited
iv.
M/s IL&FS Energy Development Company Limited
v.
M/s Himshakti Private Limited
vi.
M/s Bermaco Energy Limited
vii.
M/s Sterling Agro Industries Limited
viii.
M/s A2Z Maintenance & Engineering Services limited
ix.
M/s Indian Biomass Power Association
x.
M/s Viaton Energy Private Limited.
xi.
M/s Green Planet Energy Private Limited
xii.
M/s DEE Piping Systems
xiii.
M/s Shalivahana Green Energy Limited
xiv.
M/s NSL Renewable Power Private Limited
xv.
M/s Indian Wind Turbine Manufacturers Association (IWTMA)
xvi.
M/s Indian Wind Power Association (IWPA)
xvii.
M/s JITF Urban Infra Structure Limited
xviii.
M/s Mytrah Energy (India ) Private Limited
xix.
M/s Rudraksh Energy Limited
xx.
M/s Azure Power India Private Limited
xxi.
M/s Tata Power Company Limited

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xxii.
M/s Federation of Indian Chambers of Commerce and Industry
xxiii.
M/s Chhattisgarh State Power Distribution Co. Ltd.
xxiv.
M/s Wind Independent Power Producers Association
xxv.
M/s Welspun Energy Limited
xxvi.
M/s Association of Power Producers
xxvii.
M/s Acme Solar Energy Private Limited
7. Subsequently, a public hearing was held on 11th March, 2014 and following stakeholders
expressed their views/suggestions/comments in person:
i.
M/s Association of Power Producers
ii.
M/s Moser Baer Engineering and Construction Limited
8. The commission has analysed the views/comments/suggestions of the stakeholders and

the Commissions decisions are as below:
A. Tax Rate:
Comments received
It is requested to determine Discount Factor considering effective tax rate which is
increased from 32.45% to 33.99% due to increase in surcharge from 5 to 10% in
Union Budget 2013. (A2Z Maintenance & Engineering Services limited, Association
of Power Producers, Federation of Indian Chambers of Commerce and Industry,
Acme Solar Energy Private Limited, Welspun Energy Limited)
Analysis and Decision

Comments have been noted and the effective tax rate of 33.99% is considered for
determination of Discount Factor.
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B. Capital Cost indexation mechanism

Comments received
Revised WPI numbers available of Electrical Machinery index need to be captured.
(Mytrah Energy (India) Private Limited, Association of Power Producers)

Comments have been noted and latest data available on monthly wholesale price
Index for Electrical Machinery and Steel from the site of Office of Economic Adviser
are considered for capital cost indexation for various renewable energy
technologies.
C. Determination of Biomass Tariff as per the norms revised under First Amendment
of RE Tariff Regulations
Comments Received
Biomass Tariff may be released on the amended norms based on the consultation
process carried out by the Commission on the draft Notification dated 6 th
December, 2013 instead of old assumption. The comments submitted on such
notification for various norms should be considered for determination of generic
tariff for biomass power projects. (Rajasthan Biomass Power Developers
Association, Malwa Power Private Limited, Punjab Biomass Power Limited, IL&FS
Energy Development Company Limited, Bermaco Energy Limited, Indian Biomass
Power Association, Viaton Energy Pvt. Ltd., Green Planet Energy Private Limited,
DEE Piping Systems, Shalivahana Green Energy Limited)
Comments have been noted and the tariff for biomass based power projects based
on Rankine Cycle are determined considering amended norms as per the RE Tariff
(First Amendment) Regulations, 2014.
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D. Following comments/suggestions received from stakeholders on normative

parameters specified in the RE Tariff Regulations, 2012 are not the subject matter
of present regulatory process which has been initiated for determination of
generic tariff for FY 2014-15.
Interest on Loan:
It is requested that the Commission should consider revised Base Rate of SBI at 10%
p.a. effective from 7.11 .2013 for determination on interest on loan in line with the
CERC RE Tariff Regulation 2012. (A2Z Maintenance & Engineering Services limited)
Interest Rate should be considered at 13.5% based on the prevailing interest rates of
Indian banks and financial institutions. (Azure Power)
Interest on Working Capital:
It is requested that the Commission should consider revised Base Rate of SBI at 10%
p.a. effective from 7.11 .2013 for determination on interest on working Capital in
line with the CERC RE Tariff Regulation 2012. (A2Z Maintenance & Engineering
Services limited)
E. SMALL HYDRO PROJECTS (SHP)

Discount Factor
It should be calculated on the basis of actual interest rate i.e. in the range of 13.514%.
Capital Cost
Based on the Capital cost of projects which are under execution, it should be revised
at Rs. 12 Crore/MW for projects upto 5 MW and Rs. 11 Crore/MW for projects
between 5 to 25 MW.
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Return on Equity
Considering higher gestation period and risk associated in execution of small hydro
projects, pre-tax ROE should be 28% p.a. for first 10 years and 34% p.a. from 11 th
year onwards.
Interest on Loan
Financial Institutions (FIs) and Banks such as IREDA, REC, PFC etc are providing long
term loan in the range of 13.5%-14%p.a. Therefore norm should be SBI Base Rate
plus 375 basis points or such rate as has been notified by REC/PFC from time to
time.
Interest on working Capital
It is suggested that the norm should be fixed at SBI Base Rate plus 425 basis points
or 14.25% p.a.
O&M Expenses
Norm should be specified at Rs. 45 Lakhs /MW for projects up to 5 MW and Rs. 40
Lakhs/MW for projects from 5 to 25 MW.
(Himshakti Private Limited, Association of Power Producers)
Plant Load Factor (PLF)
Existing norm needs to be reviewed as actual PLF for many SHPs in Himachal
Pradesh is in the range of 30-35%.
Capital Cost
Existing norm in the Regulations needs to be reviewed as actual costs of Small Hydro
Projects are in the range of Rs. 10-11 Crore/MW in the State of Himachal Pradesh..
Project Specific Tariff
The Commission may consider to allow project specific tariff for those developers
who are aggrieved of the norms proposed in the generic tariff order for FY 2014-15.
(NSL Renewable Power Private Limited)
Capital Cost
Most of the Small Hydro projects in India have been implemented under
Memorandum of Understanding (MoU) routes in various States like Uttarakhand,
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Himachal, Arunachal and elsewhere. In various States, different fees and charges
and taxes etc. are not waived off/subsidized for small hydro and they have to be
borne high fees and charges levied by State Agencies usually in Uttarakhand and
Himachal. For example, there are a few hard costs such as in Himachal Pradesh:
o 1.5% of Project Cost for Local Area Development Fund
o 0.1% of Project cost for Environmental Monitoring Plan
o 2.5% of the Project cost for Catchment Area Treatment Plan + applicable service
tax.
o 12% free energy to State Govt. for first 12 years, 18% from 13-18 years and 33%
for the balance period. 1% additional free energy over and above the aforesaid
rates is levied under Central Government Hydro Policy, 2008
o 1% of the Project Cost is levied as Labour Cess
o Entry Tax, VAT items are also additionally levied on the plant and machinery
o 12.36% Service Tax
o Forest Fees and charges in the form of NPV, Compensatory afforestation and
Reclamation plan etc. which forms around 0.5% of the Project cost. Additionally,
transmission line costs up to inter-connection points also need environmental cost
to be borne by the developer in case the ROW is a forest area
o Other charges levied by various agencies such as PCB, Fisheries, Irrigation etc.
o There is also increase in costs of transportation of materials from downhill to uphill
o The actual CAPEX of SHPs comes to around Rs.12 Crore/MW
These aforesaid fees have to be borne by SHP Developers irrespective of the size of
the Project. In view of this, it is requested to allow the fees, charges and project and
these statutory expenses as a pass through in the CAPEX for small hydro.
(Kanchanjanga Power Company Private Limited)
Rebate in Tariff
For SHP projects in Himachal and Uttarakhand the State DISCOMS charge a rebate of
2% for prompt payment. It is requested to do away with the rebate on the tariff
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paid by DISCOMS or factor the same in determination of tariff as it does bring down
the net realization and hence affects the viability of the projects.(Kanchanjanga
Power Company Private Limited)
F. WIND ENERGY PROJECTS

Capital cost
Capital cost for wind projects for FY 2013-14 should be revised to Rs. 7.25
Crore/MW. (Association of Power Producers)
Cost of scheduling and forecasting for wind energy
The Tariff Order does not capture the cost of enforcement of scheduling and
forecasting for wind energy. Any decision on the Renewable Regulatory Fund (RRF)
will have negative impact on ROE of wind energy generators. This must be
considered in exercise of determination of generic levellised Tariff for wind energy.
(Sterling Agro Industries Limited, IWPA)
Capital Cost
Capital Cost should be considered at Rs. 6 crore/MW in view of the higher hub
height, high land cost, land development charges and long transmission lines and
ROW issues involved in implementing the projects.
Interest on Loan and Working Capital
It is requested to fix Interest on Loan and Working Capital at 15% as most of the
projects are being financed by banks at rates ranging from 14-16%.
O&M Expenses
The O&M expenses are progressively increasing year on year. It needs to be fixed
annually. The prevailing O&M expenses are around Rs. 11 Lakhs per MW. In addition
VAT and Service Tax are also applicable. Total expenses are around Rs. 13 Lakh/MW.
In addition, Insurance cost should also be considered at 1% of project cost for the
first five years.
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Capacity Utilisation factor (CUF)

Good quality sites have all been exhausted and only sites with relatively low wind
potential are available. Therefore, CUF of such projects should be assumed at 19%
and Wind Zone 4 & 5 should be removed.
CDM Benefits
Provision related to Sharing of CDM revenue should be withdrawn and generators
should be allowed to retain entire CDM benefits. (Indian Wind Power Association)
Capital Cost
It is suggested that normative Capital Cost should be revised to Rs.7.25 crores per
MW due to following reasons:a) Capital cost has increased significantly in last few years due to steep increase in
material equipment, transportation and land costs.
b) Power evacuation is being done at EHV level which is generally 15 to 40 kms
away from EHV Grid so the capital cost is impacted significantly.
c) Majority of windy sites in the States offering good wind potential have already
been exhausted. In order to harness newer wind sites offering lower WPD,
larger wind turbines or Class III/S wind turbines are being installed. Due to
larger rotor diameter and taller hub heights, the cost of transportation,
installation charges etc. have been increased.
Normative O&M Cost
It is suggested that the O&M cost should be considered at Rs.14 (14.5) lakhs per
MW. Annual escalation rate should be reflective of actual price due to higher WPI
and increased manpower cost.
Capacity Utilization Factor
Wind Power density measurement at 80 meter height is very difficult. Very few
masts are put up by C-WET or other agency. CERC should change the Wind Power
Density measurement at 50 meter hub height for determining CUF.
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Applicability of Tariff for Wind Energy Projects

The tariff determined through this Order should be made applicable for wind
projects getting commissioned in the year 2013-14. If the PPA is signed during the
current year, the tariff determined for FY 2013-14 should be applicable for next year
as well.
Adoption of Wind Zones Concept by SERCs
CERC may try to make consensus among all SERCs to adopt wind zone based tariffs
and Capex for the respective States. This will bring the uniformity and will help to
lead the investment in wind energy.(Welspun Energy Limited, Association of Power
Producers)
Capital Cost and O & M Cost norms
Capital Cost and O & M Cost norms need to be increased due to mandatory
scheduling requirement and associated commercial mechanism, rupee devaluation,
increased in land cost and additional cost required for compliance of recently
notified CEA technical Regulation to control harmonics, DC current filter, active and
reactive power supply during low voltage. It is suggested that proposed Capital Cost
and O&M cost should be raised to atleast Rs. 655 Lakhs/MW and Rs. 10.50
Lakhs/MW respectively. (Indian Wind Turbine Manufacturers Association)
Wind Zone Criteria
Wind zoning should be based on 50 meter hub-hight.
Capital Cost
Over all project cost needs to be increased by Rs. 50 Lakhs/MW due to cost / time
overruns, rupee devaluation, mandatory scheduling.
O&M Expenses
It is to be increased by Rs. 2.23 lakhs/MW.
Evacuation cost
There is a significant increase in the evacuation cost, which needs to be considered
in the Capital cost of the project. (NSL Renewable Power Private Limited)
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Capacity Utilization Factor for wind

It is to be highlighted here (also corroborated by discussion with C-WET) that in
order to arrive at wind density at any particular hub height, the height of the wind
mast should be at least of 2/3rd of that hub height. Accordingly, to calculate the
wind density to 80m, the height of the wind mast should be at least 53.3m. On
contrary, the height of most of the wind masts put up by C-WET is in the range of 2030 meters. Only very recently C-WET has started putting up wind masts on
experimental basis with height of 50m. Besides, even the wind masts set by the
private developers in recent months have the height of not more than 50m.
Wind mast of 50m height is marginally inadequate to calculate the wind density at
80m hub height. This has led to situation where in the wind density/zoning
certification has become extremely unmanageable. This, in turn, is rendering the
entire philosophy of wind zoning based on wind density at 80m hub height
meaningless. It is requested to allow wind zoning based on wind density at 50m hub
height till the time adequate numbers of masts with height more than 55m are set
up and wind data from such masts for a minimum period of 2 years is available.
Commission is requested to come out with a robust methodology for zone
certification which could form basis for zone wise tariff in all states.
Cost of forecasting & scheduling
For a typical 50 MW wind farm, forecasting and scheduling costs being incurred are
as under:
Activity
Cost of Forecasting
Service Provider
Cost of Coordinating
Agency for scheduling
Manpower Cost
Annual recurring cost
Infrastructure Cost
One time Cost
Cost (tentative)
Rs 50,000 /MW/year X 50 MW = Rs 25 Lakh /year
Rs 1,25,000 /MW/year X 50 MW = Rs 62.5 Lakh / year
Rs 8 Lakh/person X 3 persons = Rs 24 Lakh
Rs 111.5 Lakhs / year i.e. Rs 2.23 Lakh/MW/year
Rs 20Lakh(SCADA) + Rs 15Lakh(Add. ABT meter)=Rs 35
Lakh
Rs 35 Lakhs
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Forecasting and scheduling activities have led to increase in capital cost by Rs 35

Lakh/MW and increase in O&M cost by Rs 2.23 Lakh/MW. It is requested to allow
such additional capital cost and O&M expenses.
Capital cost for wind
Capital cost has increased significantly due to steep increase in material (i.e. cost of
copper, steel and cement), equipment, transportation and land costs. It is requested
to consider following factors that are additionally responsible for increased capital
cost for wind projects.
Evacuation system
Wind farms are located 20-30 km away from EHV grid and thus it leads to significant
increase in power evacuation costs.
Increased transportation cost
Majority of good sites with high wind density are already exhausted. Newer wind
sites having lower WPD requires larger size WTGs and equipment are required to be
transported to a much distant location which led to significant increase in
transportation costs.
Wind farm control system
Wind farms require central monitor stations (SCADA based CMS) to control wind
turbines through fiber optic network.
Impact of land prices & ROW
Cost of private land has shot up significantly in last couple of years. Besides, local
people demand increased compensation for land and ROW.
Currency depreciation
Many components of WTG are imported and the weakening of Rupee in last one
year has significantly impacted the turbine prices, leading to significant increase in
cost of imported components and thus the capital cost.
(Wind Independent Power Producers Association)
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Deemed generation benefit

Deemed generation benefit should be given to Wind projects in case distribution
licensee ask wind energy generators to backing down. SERCs should strictly
implement wind zone based separate tariff as followed by the Commission. (Tata
Power Company Limited)
Moratorium period
One year period should be considered for term loan for determination of tariff.
Interest on Loan
It is suggested to consider prevailing Base Rate for determination Interest on term
loan. Norm should be SBI Base Rate plus 350 basis points or such rate as has been
notified by REC/PFC from time to time.
Norm should be SBI Base Rate plus 400 basis points or 14.25% p.a.
Evacuation cost
It is suggested to consider appropriate evacuation infrastructure cost on per MW
basis so as it can act as guiding factor for other SERCs in determination of wind
energy tariff for their respective States.
Sharing of CDM benefit
Sharing of CDM revenue for projects under preferential Tariff PPA and also under
Average Power Purchase Cost (APPC) PPA and made effective from prospective date
of CERC RE Tariff Regulations, 2009. OR if CERC finds it is justifiable to impose CDM
sharing the percentage of sharing shall be linked with the EURO price and to be
shared when CERs trading value at spot market is over and above 8 Euros.
(Mytrah Energy (India) Limited)
Operation & Maintenance Expenses
It is suggested that the Commission may include insurance charges at 3%of capital
cost. (Rudraksh Energy)
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Biomass Fuel cost for Rajasthan State

Biomass fuel from Rajasthan State exported to adjoining States like Punjab and
Haryana; therefore biomass cost should be kept in the same range in the adjoining
States.
(Rudraksh Energy)
Lack of adoption of CERC Tariff Order by SERCs
It is requested that the Commission should act upon enforcing the principles and
methodologies of its Regulations on SERCs to prevent grave injustice being done to
wind industry by lack of viable tariffs for wind industry prevalent across the nation.
(Sterling Agro Industries Limited, IWPA)
Payment Security Mechanism
Distribution licensees in major States like Rajasthan, Madhya Pradesh and Tamil
Nadu and others are making delayed payment from 100 to 200 days to renewable
energy generators. Renewable energy generators are unable to serve their debt
leading to financial stress and closure of units. CERC should address this issue in this
Tariff Order. (Sterling Agro Industries Limited, IWPA)
G. MUNICIPAL SOLID WASTE PROJECTS

Feed-in-Tariff for Municipal Solid Waste to energy projects
Commission should consider Municipal Solid Waste projects with Refused Derived
Fuel (RDF) and norms and parameters applicable for biomass projects should be
applicable to such projects. (JITF Urban Infra Structure Limited)
Separate Feed-in-Tariff should be determined for Municipal Solid Waste to energy
projects. (Tata Power Company Limited)
Scheduling requirement for Municipal Solid Waste Projects
Due to varying characteristics of fuel resulting into variation in power generation
from Municipal Solid Waste projects, the Commission should allow 30% variation
from schedule under deviation settlement mechanism for such projects. (JITF Urban
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Infra Structure Limited)

Subsidy given to Municipal Solid Waste Projects
Subsidies given by Ministry for promotion of RDF based projects should not be
considered for determination of Tariff. (JITF Urban Infra Structure Limited)
H. BIOMASS POWER PROJECTS

State of Chhattisgarh considered in other States
The State of Chhattisgarh has been considered in other States. Unfortunately, the
State Commission has incorporated the CERC norms for determination of tariff for
biomass. Generators are making undue advantage out of these inflated norms as
compared to actually available price of Rice Husk. In fact the prevailing price of
biomass fuel in the State of Chhattisgarh is varying from Rs. 1400 to Rs. 1500 per
tonne. The Commission should consider Chhattisgarh as an independent State and
not to cover under Other States.(Chhattisgarh State Power Distribution Co. Ltd.)
Separate norms for small biomass power plants

There is an urgent need to encourage small biomass based distributed generation
assets with size less than 5MW using direct combustion and gasification technology.
Capital cost for such projects may be considered at Rs. 750-800 Lakhs/MW and
Operation & Maintenance norm may be considered at Rs. 65-75 lakhs/MW. For such
projects, fuel adjustment and truing up should be carried out on half yearly basis.
For biomass projects, the Commission may suitably revise annual O&M costs upward
in line with empirical data and market trend. The Plant Load Factor norm should be
fixed at 60% in first year and 70% in 2nd year onward. The Auxiliary consumption
norm may be further relaxed to 12.5%. The Debt:Equity ratio norm may be further
relaxed for biomass power projects (Rankine cycle and Gasifier based). (Tata Power
Company Limited)
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I. SOLAR PV PROJECTS
Capital Cost
The Commission may consider revised Capital cost for solar PV as suggested in our
comments given in the Petition No. 353/MP/2013.
Debt-Equity ratio
It is recommended that the Debt-Equity ratio should be changed to 75:25 or even
80:20. This will relax tariff further with the reduction in equity component.
Interest on loan
Major public sector bank consider renewable energy project more risky as compared
to infrastructure projects. Hence RE projects rely on foreign lenders which invite
lending rate plus hedging risks. It is recommended to consider higher interest rate
for determination of tariff.
Capacity Utilisation Factor (CUF)

CUF of 23% specified for solar thermal projects require larger solar field, additional
land and higher capital cost. Annual plant performance degradation of some 0.5%
per year up to a maximum of at least 6% over 25 years due to turbine degradation,
heat exchanger fouling must be taken into account. Commission notify varying solar
irradiation across the different State varying from 15%,16%, 17% , 18%, 19% and
20%.
Consumption
For solar thermal projects, start-up power must be part of the auxiliary
consumption. In India developers have recorded auxiliary consumption in the range
of 12-5% depending upon the time of the year. For solar PV projects, 1% auxiliary
consumption should be considered.
Module degradation loss and grid unavailability loss
Module degradation loss and grid unavailability loss need to be considered.
(Federation of Indian Chambers of Commerce and Industry, Acme Solar Energy
Private Limited)
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Debt Equity Ratio

It is suggested that the ratio be changed to 75:25. This will reduce the tariff with
reduction in equity component.
Interest on Loan
It is suggested that the loan tenure of 14 years may be considered in view of
prevailing tight liquidity conditions and impact on cash flows.
Interest on Loan
It is suggested that the rates may be aligned to the lending rates of PFC, REC which
are currently as high as 13.5%.
It is suggested that six varying zone-wise CUF levels be notified across India as 15%,
16%, 17%, 18%, 19% and 20%. This will mean six different FITs for this job.
Auxiliary Consumption:
Auxiliary power is required for air conditioning in inverter room & control room and
lighting in night. It is suggested that the auxiliary consumption be accounted at 2%.
(Association of Power Producers, Welspun Energy Limited)
Subsidy or Incentive by the Central and State Government
It is perhaps time to decide whether AD should continue to be given to attract
investors into the sector considering the fact that the sector is already around four
years old. AD benefit in Solar sector is creating distortion and disparities between
IPPs and big corporate houses and disturbing the equilibrium against IPPs
particularly when the selection of solar project developer is through competitive
bidding. (Welspun Energy Limited)
J. SOLAR THERMAL PROJECT
Transmission Charges and losses on STU and CTU network
The transmission Charges and losses may be waived off or reimburses by the
procurer at actual.
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Return on Equity
ROE suitably increased for Solar Thermal projects in order to neutralize the
unforeseen incremental risk element and challenges.
O&M expenses
O&M expenses should be increased to Rs. 20 Lakhs/MW. (Association of Power
Producers)
Solar thermal with Storage
Solar Thermal technology with storage facility needs to be incentivised. (Federation
of Indian Chambers of Commerce and Industry)
THE GENERIC LEVELLISED GENERATION TARIFF FOR VARIOUS RENEWABLE ENERGY

TECHNOLOGIES, FOR FY 201415
9. The generic levellised generation tariffs for various renewable energy technologies, for
FY 2014-15 are discussed below:
USEFUL LIFE
10. Clause (aa) of sub-Regulation (1) of Regulation 2 of the RE Tariff Regulations defines
useful life in relation to a unit of a generating station (including evacuation system) to
mean the following duration from the date of commercial operation (COD) of such
generation facility:
Renewable Energy Projects
Years
Wind energy
25
Small Hydro
35
Biomass power project with Rankine Cycle technology
20
Non-fossil fuel based co-generation
20
Solar PV
25
Solar Thermal
25
Biomass Gasifier
20
Biogas
20
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CONTROL PERIOD
11. Regulation 5 of the RE Tariff Regulations provides that the control period for
determination of tariff for renewable energy projects (RE projects) shall be of five years.
The first year of the control period was from FY 2012-13. The Provision to the said
regulation stipulates that the tariff determined for the RE projects commissioned during
the control period shall continue to be applicable for the entire duration of the tariff
period as specified in Regulation 6 of the RE Tariff Regulations.
TARIFF PERIOD
12. In terms of Regulation 6 of the RE Tariff Regulations, the tariff period in respect of the
RE projects is as under:
Years
Wind energy
13 *
Small Hydro below 5 MW
35
Small Hydro (5 MW -25 MW)
13*
Biomass
13*
Non-fossil fuel co-generation
13*
Solar PV and Solar Thermal
25
Biomass Gasifier and Biogas
20
* The RE Tariff Regulations provides for a minimum period of thirteen (13) years.
In terms of clauses (e) and (f) of the said regulation, the tariff period specified above
shall be reckoned from the date of commercial operation of the RE projects and the
tariff determined under the regulations shall be applicable for the duration of the tariff
period.
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TARIFF STRUCTURE
13. Clause (1) of Regulation 9 of the RE Regulations stipulates that the tariff for RE projects
shall be single part tariff consisting of the following fixed cost components:
(a) Return on equity;
(b) Interest on loan capital;
(c) Depreciation;
(d) Interest on working capital;
(e) Operation and maintenance expenses;
For renewable energy technologies having fuel cost component, like biomass power
projects and non-fossil fuel based cogeneration, single part tariff with two components,
fixed cost component and fuel cost component, is to be determined.
TARIFF DESIGN
14. In terms of Regulation 10 of the RE Tariff Regulations, the tariff design for renewable
energy generating stations is as under:
"(1) The generic tariff shall be determined on levellised basis for the Tariff
Period.
Provided that for renewable energy technologies having single part tariff
with two components, tariff shall be determined on levellised basis
considering the year of commissioning of the project for fixed cost
component while the fuel cost component shall be specified on year of
operation basis.
(2) For the purpose of levellised tariff computation, the discount factor
equivalent to Post Tax weighted average cost of capital shall be
considered.
(3) Levellisation shall be carried out for the useful life of the Renewable
Energy project while Tariff shall be specified for the period equivalent to
Tariff Period.
Page 21
LEVELLISED TARIFF
15. Levellised Tariff is calculated by carrying out levellisation for useful life of each
technology considering the discount factor for time value of money.
DISCOUNT FACTOR
16. The discount factor considered for this purpose is equal to the Post Tax weighted
average cost of the capital on the basis of normative debt: equity ratio (70:30) specified
in the Regulations. Considering the normative debt equity ratio and weighted average of
the post tax rates for interest and equity component, the discount factor is calculated.
Interest Rate considered for the loan component (i.e.70%) of Capital Cost is 12.70% (as
explained later). For equity component (i.e. 30%) rate of Return on Equity (ROE)
considered at Post Tax ROE of 16% considered. The discount factor derived by this
method for all technology is 10.67% ((12.70% 0.70 (1 33.99%)) + (16.0% 0.30)).
CAPITAL COST
17. Regulation 12 of the RE Tariff Regulations stipulates that the norms for the capital cost
as specified in the technology specific chapter shall be inclusive of all capital works like
plant and machinery, civil works, erection and commissioning, financing and interest
during construction, and evacuation infrastructure up to inter-connection point. The
Commission has specified the normative capital cost, applicable for the first year of
control period i.e. FY 2012-13, for various RE technologies viz. Wind Energy, Small Hydro
Power, Biomass Power, Non-Fossil Fuel based Cogeneration, Solar PV, Solar Thermal,
Biomass Gasifier and Biogas based power projects.
18. In order to determine the normative capital cost for the remaining years of the control
period, the regulations stipulate the indexation mechanism, Wind Energy, Small Hydro
Power, Biomass Power, Non-Fossil Fuel based Cogeneration, Biomass Gasifier and
Biogas based power projects. However, the Capital Cost norms for Solar PV and Solar
Thermal Power Projects shall be reviewed on annual basis. The indexation mechanism
Page 22
shall take into account adjustments in capital cost with the changes in Wholesale Price
Index of Steel and Wholesale Price Index of Electrical Machinery as per formulation
stipulated under the RE Tariff Regulations, which is reproduced below.
CC(n) = P&M(n)* (1+F1+F2+F3)
P&M(n) = P&M(0) * (1+d(n))
d(n) = [a*{(SI(n-1)/SI(0)) 1} + b*{(EI(n-1)/EI(0)) 1}]/(a+b)
Where,
CC (n)
= Capital Cost for nth year
P&M (n) = Plant and Machinery Cost for nth year

P&M (0) = Plant and Machinery Cost for the base year
Note: P&M (0) is to be computed by dividing the base capital cost (for the first year of
the control period) by (1+F1+F2+F3). Factors F1, F2, F3 for each RE technology has been
specified separately, as summarized in following table.
d (n)
= Capital Cost escalation factor for year (n) of Control Period
SI (n-1) = Average WPI Steel Index prevalent for calendar year (n-1) of the Control Period
SI (0)
= Average WPI Steel Index prevalent for calendar year (0) at the beginning of the
Control Period
EI (n-1) = Average WPI Electrical Machinery Index prevalent for calendar year (n-1) of the
Control Period
EI(0)
= Average WPI Electrical Machinery Index prevalent for calendar year (0) at the
beginning of the Control Period

a
= Constant to be determined by Commission from time to time,

(for weightage to Steel Index)
= Constant to be determined by Commission from time to time,

(for weightage to Electrical Machinery Index)
F1
= Factor for Land and Civil Works
F2
= Factor for Erection and Commissioning
F3
= Factor for IDC and Financing Cost
Page 23
The default values of the factors for various RE technologies as stipulated under the said RE
Regulations, is summarized in the table below,
Biomass based Rankine cycle
Power plant, Non-Fossil Fuel
Small Hydro
Parameters
Wind Energy
Based Cogeneration
Projects
Biomass Gasifier and Biogas based
projects
a
0.6
0.6
0.7
b
0.4
0.4
0.3
F1
0.08
0.16
0.10
F2
0.07
0.10
0.09
F3
0.10
0.14
0.14
The Commission has relied on the following sources for relevant information on various indices:
Source for WPI (electrical & machinery and iron and steel), WPI ( all commodities), WPI
(Price of HSD): Office of Economic Advisor, Ministry of Commerce & Industry
(www.eaindustry.nic.in)
Source for IRC (Average Annual Inflation rate for indexed energy charge component in
case of captive coal mine source): CERC (www.cercind.gov.in)
Technology specific capital cost of RE projects is discussed here in under:
Technology specific capital cost of RE projects is discussed herein under:
(A)
Capital Cost of Wind Energy for FY 2014-15
19. Regulation 24 provides that the capital cost for wind energy project shall include wind
turbine generator including its auxiliaries, land cost, site development charges and other
civil works, transportation charges, evacuation cost up to inter-connection point,
financing charges and IDC.
20. The Commission under Regulation 24 (2) has specified the normative capital cost for
wind energy projects as ` 575 Lakh/MW for FY 2012-13 which shall be linked to the
indexation mechanism specified under Regulation 25 of the RE Tariff Regulations. In
accordance with the above referred Regulation, the normative capital cost of the Wind
Page 24
energy Projects shall be ` 603.929 Lakh/MW for FY 2014-15. The detailed computations
of the indexation mechanism and determination of the capital cost for FY 2014-15
thereof, has been enclosed as Appendix-1 of this Order.
(B) Capital cost of Small Hydro Projects for FY 2014-15
21. Small Hydro Projects for the purpose of the RE Tariff Regulations cover those projects
which are located at the sites approved by the State Nodal Agencies/State Governments
using new plant and machinery and with installed power plant capacity lower than or
equal to 25 MW.
22. The Commission under Regulation 28 (1) has specified the normative capital cost for
small hydro projects for FY 2012-13 as under:
Region
Himachal Pradesh,
Uttarakhand and North
Eastern States
Other States
Project Size
Capital Cost
(FY 2012-13)
(` Lakh/ MW)
Below 5 MW
770
5 MW to 25 MW
700
Below 5 MW
600
5 MW to 25 MW
550
23. In line with the indexation mechanism, specified in Regulation 29 of the RE Tariff
Regulations, the normative capital cost for FY 2014-15 for Small Hydro Projects shall be
as under,
Page 25
Capital Cost
Region
Project Size
(FY 2014-15)
(` Lakh/ MW)
Himachal Pradesh,
Eastern States
Other States
Below 5 MW
808.739
5 MW to 25 MW
735.217
Below 5 MW
630.186
5 MW to 25 MW
577.671
The detailed computations of the indexation mechanism and the determination of the capital
cost for FY 2014-15 thereof, has been enclosed as Appendix-2 of this Order.
(C) Capital Cost of Biomass based Power Projects for FY 2014-15

24. The Commission under Regulation 34 of the RE Tariff (First Amendment) Regulations has
specified the normative capital cost for the biomass power projects based on Rankine
cycle technology application for FY 2013-14 as under:
a.
` 540 lakh/MW for project [other than rice straw and juliflora (plantation) based
project] with water cooled condenser;

b.
` 580 lakh/MW for Project [other than rice straw and Juliflora (plantation) based
project] with air cooled condenser;

c.
` 590 lakh/MW for rice straw and juliflora (plantation) based project with water cooled
condenser;
d.
` 630 lakh/MW for rice straw and juliflora (plantation) based project with air
cooled condenser.
25. In line with the indexation mechanism, specified in Regulation 35 of the RE Tariff
Regulations, the normative capital cost for FY 2014-15 for Biomass Projects determined
considering capital cost specified in the RE Tariff (First Amendment) Regulations for FY
2013-14 as base year capital cost. Average WPI Steel Index and average Electrical
Page 26
Machinery Index prevalent for calendar year 2013 considered for SI
(n-1)
and EI
(n-1)
respectively. Average WPI Steel Index and average WPI Electrical Machinery Index
prevalent for year 2012 for SI (0) and EI(0) respectively. Accordingly, the normative capital
cost for FY 2014-15 for Biomass Projects shall be as under,
Biomass Rankine Cycle Projects
Capital Cost
(FY 2014-15)
(` Lakh/ MW)
Project [other than rice straw and juliflora (plantation)

based project] with water cooled condenser
544.187
Project [other than rice straw and Juliflora(plantation)

based project] with air cooled condenser
584.497
For rice straw and juliflora (plantation) based project with

water cooled condenser
For rice straw and juliflora (plantation) based project with
air cooled condenser
594.575
634.885
26. The detailed computations of the indexation mechanism and the determination of the
capital cost for FY 2014-15 thereof, has been enclosed as Appendix-3 of this Order.
(D) Capital Cost of Non-fossil fuel based Cogeneration Projects for FY 2014-15
27. Non-fossil based cogeneration has been defined as the process in which more than one
form of energy is produced in a sequential manner by using biomass. As per Regulation
4(d) of the RE Tariff Regulations, a project to qualify as the non-fossil based cogeneration project must be using new plant and machinery with topping cycle mode of
operation which uses the non-fossil fuel input for power generation and utilizes the
thermal energy generated for useful heat applications in other industrial activities
simultaneously, and where the sum of useful power output and half of useful thermal
output is greater than 45% of the plants energy consumption during the season.
28. The Commission under Regulation 47 has specified the normative capital cost for the
Non-Fossil Fuel Based Cogeneration Projects as ` 420 Lakh/MW for FY 2012-13 which
shall be linked to the indexation mechanism specified under Regulation 48 of the RE
Page 27
Tariff Regulations. In accordance to the above referred Regulation, the normative

capital cost of Non-Fossil Fuel based Cogeneration power projects shall be ` 440.708
Lakh/MW for FY 2014-15.The detailed computations of the indexation mechanism and
determination of the capital cost for FY 2014-15 thereof, has been enclosed as
Appendix-4 of this Order.
(E) Capital Cost of Solar PV based Power Projects for FY 2014-15
29. Solar Photo Voltaic (PV) power projects which directly convert solar energy into
electricity using the crystalline silicon or thin film technology or any other technology as
approved by the Ministry of New and Renewable Energy and are connected to the grid,
qualify for the purpose of tariff determination under the RE Tariff Regulations.
30. The Commission under Regulation 57 specified the normative capital cost for the Solar
PV power projects as ` 1000 Lakh/MW for the FY 2012-13.
31. The Commission vides its suo-motu Order (Petition No. 242/SM/2012) dated 28th
February, 2013, determined the normative capital cost for the Solar PV power projects
as ` 800.00 Lakh/MW for the FY 2013-14.
32. The Commission vides its suo-motu Order (Petition No. SM/353/2014) dated 15/5/2014
determined the normative capital cost for the Solar PV power projects as ` 691
Lakh/MW for the FY 2014-15.
(F) Capital Cost of Solar Thermal based Power Projects for FY 2014-15
33. In order to qualify for tariff determination under the RE Tariff Regulations, Solar Thermal
Power Project shall be based on concentrated solar power technologies with line
focusing or point focusing as may be approved by the Ministry of New and Renewable
Page 28
Energy and which uses direct sunlight to generate sufficient heat to operate a
conventional power cycle to generate electricity.
Solar Thermal power projects as ` 1300 Lakh/MW for the FY 2012-13.
35. The Commission vides its suo-motu Order (Petition No. 242/SM/2012) dated 28th
February, 2013, determined the normative capital cost for the Solar Thermal power
projects as ` 1200.00 Lakh/MW for the FY 2013-14.
36. The Commission vides its suo-motu Order (Petition No. SM/353/2014) dated 15/5/2014
determined the normative capital cost for the Solar Thermal power projects as ` 1200
Lakh/MW for the FY 2014-15.
(G) Capital Cost of Biomass Gasifier Power Projects for FY 2014-15
Biomass Gasifier power projects based on Rankine cycle shall be ` 550.00 Lakh/MW for
the FY 2012-13 and after taking into account of capital subsidy of ` 150.00 Lakh/MW,
net project cost shall be ` 400.00 Lakh/MW for the FY 2012-13 which shall be linked to
the indexation mechanism specified under Regulation 67 of the RE Tariff Regulations. In
accordance to the above referred Regulation, the normative capital cost of Biomass
gasifier power projects shall be ` 577.118 Lakh/MW for FY 2014-15. After taking into
account of capital subsidy of ` 150.00 Lakh/MW, net project cost shall be ` 427.118
Lakh/MW for the FY 2014-15. The detailed computations of the indexation mechanism
and determination of the capital cost for FY 2014-15 thereof, has been enclosed as
Appendix-5 of this Order.
Page 29
(H) Capital Cost of Biogas based Power Projects for FY 2014-15

38. In order to qualify for tariff determination under the RE Tariff Regulations, grid
connected biogas based power projects that uses 100% Biogas fired engine, coupled
with Biogas technology for co-digesting agriculture residues, manure and other bio
waste as may be approved by the Ministry of New and Renewable Energy.
Biogas based power projects shall be ` 1100.00 Lakh/MW for the FY 2012-13 and after
taking into account of capital subsidy of ` 300.00 Lakh/MW, net project cost shall be `
800.00Lakh/MW for the FY 2012-13 which shall be linked to the indexation mechanism
specified under Regulation 77 of the RE Tariff Regulations. In accordance to the above
referred Regulation, the normative capital cost of Biogas based power projects shall be
`1154.236 Lakh/MW for FY 2014-15. After taking into account of capital subsidy of `
300.00 Lakh/MW, net project cost shall be ` 854.236 Lakh/MW for the FY 2014-15. The
detailed computations of the indexation mechanism and determination of the capital
cost for FY 2014-15 thereof, has been enclosed as Appendix-6 of this Order.
40. The capital cost for the second year (i.e. FY 2014-15) of the control period in respect of
the renewable energy power generating stations is summarized as under:
Page 30

(1)Wind Energy Projects
Capital Cost Norm for FY 2014-15

(` Lakh/MW)
603.929
(2)Small Hydro Projects

(a) Himachal Pradesh, Uttarakhand and North
Eastern States (less than 5 MW)

(b) Himachal Pradesh, Uttarakhand and North
Eastern States (5MW to 25 MW)
808.739
735.217
(c) Other States (below 5 MW)
630.186
(d) Other States ( 5MW to 25 MW)
577.671
(3) Biomass Power Projects

(a) project [other than rice straw and juliflora
(plantation) based project] with water cooled

condenser
(b) Project [other than rice straw and Juliflora
(plantation) based project] with air cooled
condenser
(c) Rice straw and juliflora (plantation) based
project with water cooled condenser
(d) Rice straw and juliflora (plantation) based
project with air cooled condenser
(4) Non-fossil fuel based co-generation Power Projects
544.187
(5) Solar PV Power Projects
691.000
(6) Solar Thermal Power Projects
1200.00
(7) Biomass Gasifier Power Projects
427.118
(8) Biogas Power Projects
854.236
584.497
594.575
634.885
440.708
DEBT-EQUITY RATIO
41. Sub-Regulation (1) of Regulation 13 of the RE Tariff Regulations provides that the debtequity ratio of 70:30 is to be considered for determination of generic tariff based on
suo-motu petition.
Page 31
42. Based on the debt equity ratio of 70:30, the debt and equity components of the
normative capital cost for determination of tariff for the RE projects have been worked
out as under:

(1) Wind Energy (for all zones)
(2) Small Hydro
(a) Himachal Pradesh, Uttarakhand and North Eastern States
(below 5 MW)
(b) Himachal Pradesh, Uttarakhand and North Eastern States
(5 MW to 25 MW)
(c) Other States (below 5 MW)
(d) Other States ( 5MW to 25 MW)
Debt
Equity
(` Lakh) (` Lakh)
422.750 181.179
566.117 242.622
514.652 220.565
441.130 189.056
404.370 173.301
(3) Biomass
(a) project [other than rice straw and Juliflora (plantation)
based project] with water cooled condenser

(b) Project [other than rice straw and Juliflora (plantation)
based project] with air cooled condenser
(c) Rice straw and Juliflora (plantation) based project with
water cooled condenser
(d) Rice straw and Juliflora (plantation) based project with
air cooled condenser
380.931 163.256
409.148 175.349
416.202 178.372
444.419 190.465
(4) Non-fossil fuel co-generation
308.496 132.212
(5) Solar PV
483.70
(6) Solar Thermal
840.000 360.000
(7) Biomass Gasifier based Power Projects
298.983 128.135
(8) Biogas based Power Projects
597.965 256.271
207.30
RETURN ON EQUITY
43. Sub-Regulation (1) of Regulation 16 of the RE Tariff Regulations provides that the value
base for the equity shall be 30% of the capital cost for generic tariff determination. Sub-
Page 32
Regulation (2) of the said Regulation stipulates the normative return on equity (ROE) as
under:
(a) 20% per annum for the first 10 years, and
(b) 24% per annum from the 11th year onwards.
INTEREST ON LOAN
44. Sub-Regulation (1) of Regulation 14 of the RE Regulations provides that the loan tenure
of 12 years is to be considered for the purpose of determination of tariff for RE projects.
Sub-Regulation (2) of the said Regulation provides for computation of the rate of
interest on loan as under:
(a) The loans arrived at in the manner indicated in the Regulation 13 shall be
considered as gross normative loan for calculation for interest on loan. The
normative loan outstanding as on April 1st of every year shall be worked out by
deducting the cumulative repayment up to March 31st of previous year from the
gross normative loan.
(b) For the purpose of computation of tariff, the normative interest rate shall be
considered as average State Bank of India (SBI) Base rate prevalent during the
first six months of the previous year plus 300 basis points.
(c) Notwithstanding any moratorium period availed by the generating company,
the repayment of loan shall be considered from the first year of commercial
operation of the project and shall be equal to the annual depreciation allowed".
45. The weighted average State Bank of India (SBI) Base rate prevalent during the first six
months has been considered for the determination of tariff, as shown in the table
below:
Period from
Period to
Base rate
1/4/2013
30/9/2013
09.70%
Average Base rate for first six months of FY 13-14
09.70%
Source: State Bank of India (www.statebankofindia.com)
46. In terms of the above, the computations of interest on loan carried out for
determination of tariff in respect of the RE projects treating the value base of loan as
Page 33
70% of the capital cost and the weighted average of Base rate prevalent during the first
six months of the (i.e. 9.70%) plus 300 basis points (equivalent to interest rate of
12.70%).
DEPRECIATION
47. Regulation 15 of the RE Tariff Regulations provides for computation of depreciation in
the following manner:
"(1) The value base for the purpose of depreciation shall be the Capital Cost of the asset
admitted by the Commission. The Salvage value of the asset shall be considered as 10%
and depreciation shall be allowed up to maximum of 90% of the Capital Cost of the
asset.
(2) Depreciation per annum shall be based on Differential Depreciation Approach' over
loan period beyond loan tenure over useful life computed on Straight Line Method. The
depreciation rate for the first 12 years of the Tariff Period shall be 5.83% per annum and
the remaining depreciation shall be spread over the remaining useful life of the project
from 13th year onwards.
(3) Depreciation shall be chargeable from the first year of commercial operation.
Provided that in case of commercial operation of the asset for part of the year,
depreciation shall be charged on pro rata basis".
48. In accordance with the above, the rate of depreciation for the first 12 years has been
considered as 5.83% and the rate of depreciation from the 13 th year onwards has been
spread over the balance useful life of the RE project as under:
Page 34
Details
Useful Life (in
years)
Rate of
depreciation for
12 years (%)
Rate of
depreciation
after first 12
years (%)
Wind
Energy
Small
Hydro
Biomass
Non-fossil fuel cogeneration
Solar
PV
Solar
Thermal
Biomass
Gasifier
Biogas
25
35
20
20
25
25
20
20
5.83
5.83
5.83
5.83
5.83
5.83
5.83
5.83
1.54
0.87
2.51
2.51
1.54
1.54
2.51
2.51
INTEREST ON WORKING CAPITAL

49. Regulation 17 of the RE Tariff Regulations provides for the working capital requirements
of the RE projects as under:
(1) The Working Capital requirement in respect of wind energy projects, Small
Hydro Power, Solar PV and Solar thermal power projects shall be computed in
accordance with the following:
Wind Energy / Small Hydro Power /Solar PV / Solar thermal
a) Operation & Maintenance expenses for one month;
b) Receivables equivalent to 2 (Two) months of energy charges for sale of
electricity calculated on the normative CUF;
c) Maintenance spare @ 15% of operation and maintenance expenses
(2) The Working Capital requirement in respect of biomass power projects and
non-fossil fuel based co-generation projects shall be computed in accordance
with the following clause:
Biomass(Rankine Cycle Technology), Biomass Gasifier, Biogas Power and Nonfossil fuel Co-generation
a) Fuel costs for four months equivalent to normative PLF;
b) Operation & Maintenance expense for one month;
c) Receivables equivalent to 2 (Two) months of fixed and variable charges for sale
of electricity calculated on the target PLF;
Page 35
d) Maintenance spare @ 15% of operation and maintenance expenses

(3) Interest on Working Capital shall be at interest rate equivalent to the average
State Bank of India Base Rate prevalent during the first six months of the
previous year plus 350 basis points.
50. Receivables equivalent to two months of actual fixed cost and variable cost, (as
applicable for biomass power and non-fossil fuel based co-generation) have been
considered. As mentioned in the Para No. 46, interest rate considered as weighted
average of State Bank of India Base Rate prevalent during the first six months of the
previous year plus 350 basis points (equivalent to interest rate of 13.20%). The interest
on working capital has been worked out as specified below for determination of tariff of
the RE projects:
Details
Wind
Energy
Small
Hydro
Biomass,
Biomass
Gasifier
and
Biogas
Non-fossil
fuel cogeneration
Solar PV
Solar
Thermal
15
15
15
15
15
15
(A) For Fixed charges

(i) O&M
expenses
(month)
(ii)
Maintenance
spares (%) of O&M
expenses
(iii)
Receivables
(months)
(B) For Variable Charges

Biomass/Bagasse
stock
4
4
(months)
(C) Interest On Working
13.20% 13.20% 13.20%
13.20%
13.20%
Capital (%)
Source for SBI Base Rate: State Bank of India (www.statebankofindia.com)
13.20%
Page 36
OPERATION AND MAINTENANCE EXPENSES

51. Regulation 18 of the RE Tariff Regulations provides for Operation and Maintenance
Expenses (O&M expenses) in respect of RE projects as under:
Operation and Maintenance Expenses
(1) Operation and Maintenance or O&M expenses shall comprise repair and
maintenance (R&M), establishment including employee expenses and
administrative & general expenses.
(2) Operation and maintenance expenses shall be determined for the Tariff
Period based on normative O&M expenses specified by the Commission
subsequently in these Regulations for the first Year of Control Period.
(3) Normative O&M expenses allowed during first year of the Control Period (i.e.
FY 2012-13) under these Regulations shall be escalated at the rate of 5.72%
per annum over the Tariff Period.
52. The normative O&M expenses for various RE technologies specified under the relevant
provisions of the RE Tariff Regulations are as under:
(a) Wind Energy: Regulation 27 of RE Tariff Regulations provides that the normative
O&M expenses for the first year of the control period (i.e. 2012-13) as ` 9 lakh per MW
and shall be escalated at the rate of 5.72% per annum over the tariff period for
determination of the levellised tariff. Accordingly, the Commission has considered O&M
cost norm for wind energy as ` 10.05 Lakh/MW for FY 2014-15.
(b) Small Hydro: Regulation 32 of RE Regulations provided for the normative O& M
expenses for small hydro projects for the year 2012-13 which shall be escalated at the
rate of 5.72% per annum over the tariff period for determination of the levellised tariff.
Page 37
The table below presents the normative O&M Expenses considered by the Commission
for small hydro power for FY 2012-13;
Region
Himachal Pradesh,
Eastern States
Project Size
O&M expenses
(` Lakh/MW)
Below 5 MW
25
5 MW to 25 MW
18
Below 5 MW
Other States
5 MW to 25 MW
20
14
Accordingly, the table below presents the normative O&M Expenses considered by the
Commission for small hydro power for FY 2014-15,
Region
Himachal Pradesh,
Eastern States
Other States
Project Size
O&M expenses
(` Lakh/MW)
Below 5 MW
27.94
5 MW to 25 MW
20.12
Below 5 MW
5 MW to 25 MW
22.35
15.65
(c) Biomass: Regulation 39 of RE Tariff (First Amendment) Regulations provides that the
normative O& M expenses for biomass based projects for the year 2013-14 shall be `
40 Lakh per MW and which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for biomass power as ` 42.29Lakh/MW for FY 2014-15.
(d) Non-fossil fuel co-generation: As per Regulation 55 of RE Tariff Regulations, the

normative O&M Expenses for non-fossil fuel co-generation projects for the year 2012-13
has been specified as ` 16 Lakh per MW which shall be escalated at the rate of 5.72%
Page 38
per annum over the tariff period for determination of the levellised tariff. Accordingly,
the Commission has considered O&M cost norm for non-fossil fuel based co-generation
as ` 17.89 Lakh/MW for FY 2014-15.
(e) Solar PV: Regulation 59 of RE Tariff Regulations provides that the normative O&M
expenses for solar PV projects for the year 2012-13 shall be ` 11 Lakh per MW which
shall be escalated at the rate of 5.72% per annum over the tariff period for
determination of the levellised tariff. Accordingly, O&M expense norm for solar PV
power project as ` 12.30 Lakh/MW for FY 2014-15 has been considered.
(f) Solar Thermal: Regulation 63 of the RE Tariff Regulations specified the normative
O&M expenses for solar thermal power projects shall be ` 15 Lakh/MW for the first
year of operation, which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, O&M expense norm
for solar thermal power project as ` 16.77 Lakh/MW for FY 2014-15, has been
considered.
(g) Biomass Gasifier: Regulation 71 of the RE Tariff Regulations specified the normative
O&M expenses for solar thermal power projects shall be ` 40 Lakh/MW for the first
year of operation, which shall be escalated at the rate of 5.72% per annum over the
tariff period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for biomass gasifier based power plant as ` 44.71 Lakh/MW
for FY 2014-15.
(h) Biogas: Regulation 80 of the RE Tariff Regulations specified the normative O&M
expenses for solar thermal power projects shall be ` 40 Lakh/MW for the first year of
operation, which shall be escalated at the rate of 5.72% per annum over the tariff
period for determination of the levellised tariff. Accordingly, the Commission has
considered O&M cost norm for biogas based power plant as ` 44.71 Lakh/MW for FY
2014-15.
Page 39
53. The normative O&M expenses have been worked out as specified above for
determination of tariff for the renewable energy generating stations.
CAPACITY UTILISATION FACTOR

54. Regulations 26, 30, 58 and 62 of the RE Tariff Regulations specify the norms for Capacity
Utilization Factor (CUF)/Plant Load Factor (PLF) in respect of the Wind Energy, Small
Hydro, Solar PV and Solar Thermal based power generating stations as per the details
given in the table below which has been considered for determination of tariff.

(A) Wind Energy
Annual Mean Wind Power Density (W/m2)
Wind zone - 1 (Upto 200)
Wind zone - 2 (201 - 250)
Wind zone - 3 (251 - 300)
Wind zone - 4 (301 - 400)
Wind zone - 5 (Above 400)
(B) Small Hydro
(i) Himachal Pradesh, Uttarakhand and North Eastern
States
(ii) Other States
(C) Solar PV
(D) Solar Thermal
CUF
20 %
22 %
25 %
30 %
32 %
45 %
30 %
19 %
23 %
PLANT LOAD FACTOR (PLF)

55. Regulations 36, 68 and 78 of the RE Tariff Regulations specify the plant load factor for
Biomass, Biomass Gasifier and Biogas based renewable energy generating stations as
given in the table below which has been considered for determination of fixed charges
component of tariff.
Page 40
(A) Biomass
(a) During stabilization (6 months)
(b) During remaining period of the first year (after
stabilization)
(c) Second year onwards
(B) Biomass Gasifier
(C)
Biogas
PLF
60 %
70 %
80 %
85 %
90 %
56. Regulation 49 of the RE Tariff Regulations stipulates the plant load factor for Non-fossil
Fuel based Co-generation projects as under, computed on the basis of plant availability
for number of operating days considering the operations during crushing season and
off-season and load factor of 92%. The number of operating days for different States as
specified in the Regulation 49(2) is as under:
States
Uttar Pradesh
and Andhra Pradesh
Tamil Nadu and
Maharashtra
Other States
Operating days
PLF
120 days (crushing)+ 60 days (off-season) = 180 days
45 %
180 days (crushing)+ 60 days (off-season) = 240 days
60 %
150 days (crushing) + 60 days (off-season) = 210 days
53 %
Page 41
AUXILIARY POWER CONSUMPTION

57. Regulations 31, 37, 50, 64, 69 and 79 of the RE Tariff Regulations as amended from time
to time, stipulate the auxiliary power consumption factor as under which has been
considered for determination of tariff of the RE projects :
Auxiliary Consumption Factor
Small Hydro
1%
Biomass
a) the project using water
cooled condenser
b) project using air cooled
condenser
i. During first year of operation: 11%;

ii. From 2nd year onwards: 10%.
i. During first year of operation: 13%;
ii. From 2nd year onwards: 12%.
8.5 %
Solar Thermal
10 %
Biomass Gasifier
10 %
Biogas
12 %
STATION HEAT RATE

58. The Station Heat Rates (SHR) specified under Regulations 38 and 51 of the RE Tariff
Regulations as amended from time to time for biomass and non-fossil fuel based cogeneration projects are as under:
Biomass
SHR
(kCal / kWh)
a. 4200 : for project using
travelling grate boilers;
b. 4125 : for project using
AFBC boilers.

(for power component)
3600
Page 42
FUEL
(a) Fuel Mix
59. Sub-Regulation (1) of Regulation 40 of the RE Tariff Regulations stipulates that the
Biomass based power generating stations are to be designed in a way that it uses
different types of non-fossil fuels available within the vicinity of biomass power project
such as crop residues, agro-industrial residues, forest residues etc. and other biomass
fuels as may be approved by the Ministry of Non-Renewable Energy (MNRE). SubRegulation (2) of the said Regulations stipulates that the biomass power generating
companies are to ensure fuel management plan to ensure adequate availability of fuel
to meet the respective project requirements.
60. Regulation 70 of the RE Tariff Regulations stipulates that the normative specific fuel
consumption shall be 1.25 kg per kWh for Biomass Gasifier based power generating
stations.
61. Regulation 81 of the RE Tariff Regulations stipulates that the normative specific fuel
consumption shall be 3 kg of substrate mix per kWh for Biogas based power generating
stations.
(b) Use of fossil fuel
62. As per Regulation 41 of the RE Tariff Regulations (First Amendment), the use of fossil
fuel is not allowed.
(c) Calorific value
63. Regulation 43 of the RE Tariff (First Amendment) Regulations, provides the calorific
value of biomass fuel used for determination of tariff shall be at 3100 kCal/kg.
64. Regulation 52 of the of the RE Tariff Regulations provides the gross calorific value for
bagasse to be considered in case of non-fossil fuel co-generation projects is 2250
kCal/kg and for the use of biomass fuels other than bagasse, the calorific value as
specified above shall be applicable.
Page 43
(d) Fuel cost

65. The Commission, in terms of Regulation 44 of the RE Tariff Regulations, has specified the
biomass fuel price applicable during the period 2012-13 and has specified fuel price
indexation mechanism, in case developer wishes to opt, for the remaining years of the
control period. The data for Pd and WPI, as per regulations, latest figures for April, 2013
and April, 2012 corresponding to nth and (n-1)th year has been considered while
calculating the fuel price indexation for biomass and also non-fossil fuel based cogeneration power projects. The detailed computations of the fuel price indexation
mechanism and the determination of the biomass fuel prices for FY 2014-15 thereof,
has been enclosed as Appendix-7 to this order. Accordingly, the biomass fuel price
applicable for FY 2014-15 is as under:
State
Andhra Pradesh
Haryana
Maharashtra
Punjab
Rajasthan
Tamil Nadu
Uttar Pradesh
Other States
Biomass price
(`/tonne)
2751.20
3131.50
3202.80
3275.29
2733.37
2706.03
2798.73
2942.54
price of bagasse applicable during the period 2012-13 and has specified fuel price
indexation mechanism, in case developer wishes to opt, for the remaining years of the
control period. The detailed computations of the fuel price indexation mechanism and
the determination of the bagasse fuel prices for FY 2014-15 thereof, has been enclosed
as Appendix-8 of this Order. The price of bagasse (for non-fossil fuel based cogeneration projects) applicable for FY 2014-15 shall be as in the table below;
Page 44
State
Andhra Pradesh
Haryana
Maharashtra
Punjab
Tamil Nadu
Uttar Pradesh
Other States
Bagasse Price
(`/tonne)
1553.27
2209.27
2177.19
1944.26
1673.30
1732.72
1881.27
biomass fuel price during first year of the Control Period (i.e. FY 2012-13) as per
Regulation 44 and has specified fuel price indexation mechanism for the Biomass
Gasifier project developer. Accordingly, the biomass fuel price for the Biomass gasifier
based power project applicable for FY 2014-15 shall be the same as for the biomass
based power project (Rankine cycle) as mentioned above. The detailed computations of
the fuel price indexation mechanism and the determination of the biomass fuel prices
for FY 2014-15 thereof, has been enclosed as Appendix-9 of this Order.
feed stock price during first year of the Control Period (i.e. FY 2012-13) at ` 990/MT(net
of any cost recovery from digester effluent) and has specified fuel price indexation
mechanism for the Biogas project developer. The detailed computations of the fuel
price indexation mechanism and the determination of the bagasse fuel prices for FY
2014-15 thereof, has been enclosed as Appendix-10 of this Order. The price of fuel
applicable for the biogas based power plant for FY 2014-15 shall be at
1176.54/MT(net of any cost recovery from digester effluent).

69. In case of Biomass Power Projects, non-fossil fuel based co-generation projects, Biomass
Gasifier based power Projects and Biogas based power projects, variable component of
tariff is calculated based on the fuel cost for FY 2014-15. This variable component will
change each year based on whether a Renewable Energy Power Project developer opts
for fuel price indexation or escalation factor of 5%. Hence, while calculating the total
applicable tariff for Biomass Power Projects, non-fossil fuel based co-generation
Page 45
projects, Biomass Gasifier based power Projects and Biogas based power projects,
levellisation of only fixed component is considered and the variable component for the
first year of operation (i.e. 2014-15) is specified.
Subsidy or incentive by the Central / State Government
70. Regulation 22 of the RE Tariff Regulations provides as under:
The Commission shall take into consideration any incentive or subsidy offered by
the Central or State Government, including accelerated depreciation benefit if
availed by the generating company, for the renewable energy power plants while
determining the tariff under these Regulations.
Provided that the following principles shall be considered for ascertaining income
tax benefit on account of accelerated depreciation, if availed, for the purpose of
tariff determination:
i) Assessment of benefit shall be based on normative capital cost, accelerated
depreciation rate as per relevant provisions under Income Tax Act and corporate
income tax rate.
ii) Capitalization of RE projects during second half of the fiscal year. Per unit
benefit shall be derived on levellised basis at discount factor equivalent to Post
Tax weighted average cost of capital.
71. In terms of the above regulation, for the projects availing the benefit of accelerated
depreciation as per applicable Income tax rate @ 33.99% (30% IT rate+ 10% surcharge
+3% Education cess) has been considered. For the purpose of determining net
depreciation benefits, depreciation @ 5.28% as per straight line method (Book
depreciation as per Companies Act, 1956) has been compared with depreciation as per
Income Tax rate i.e. 80% of the written down value method (except for Wind energy
generator, as per Income-tax (Fourth Amendment Rules), 2012, depreciation is now
restricted to 15% on wind mills installed after 31-3-2012), Notification No. 15/2012
[F.No.149/21/2010-SO(TPL)] S.O.694(E), dated 30-3-2012). Moreover, additional 20%
depreciation in the initial year is proposed to be extended to new assets acquired by
Page 46
power generation companies vide amendment in the section 32, sub-section (1) clause
(iia) of the Income Tax Act.
72. Depreciation for the first year has been calculated at the rate of 50% of accelerated
depreciation 80% and 50% of additional depreciation 20% (as project is capitalized
during the second half of the financial year as per proviso (ii) to Regulation 22). Income
tax benefits of accelerated depreciation and additional depreciation, has been worked
out as per normal tax rate on the net depreciation benefit. Per unit levellised
accelerated depreciation benefit has been computed considering the post tax weighted
average cost of capital as discount factor.
73. In the light of the discussion made in the preceding paragraphs, the generic tariffs of the
following RE projects for the financial year 2014-15 have been determined as under:
Generic Tariff for RE Technologies for FY 2014-15
Particular
Levellised Total
Tariff
(FY 2014-15)
Benefit of
Accelerated
Depreciation
(if availed)
(` / kWh)
(`/kWh)
Net Levellised Tariff

(upon adjusting for
Accelerated
Depreciation
benefit) (if availed)
(`/kWh)
Wind Energy
Wind Zone -1 (CUF 20%)
6.34
0.34
6.00
5.76
0.31
5.45
5.07
0.28
4.79
4.23
0.23
4.00
3.96
0.22
Small Hydro Power Project
3.74

HP, Uttarakhand and NE States
(Below 5MW)
HP, Uttarakhand and NE States
(5MW to 25 MW)
Other States
(Below 5 MW)
Other States
(5 MW to 25 MW)
4.46
0.36
4.10
3.80
0.33
3.47
5.25
0.43
4.82
4.47
0.39
4.08
Page 47
State
Levellised
Fixed Cost
Variable Cost
(FY 2014-15)
Applicable
Tariff Rate
(FY 2014-15)
Benefit of
Accelerated
Depreciation
(if availed)
Net Levellised
Tariff
(upon adjusting
for Accelerated
Depreciation
benefit) (if
availed)
(`/kWh)
(`/kWh)
(`/kWh)
(`/kWh)
(`/kWh)
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based project] with
Water Cooled Condenser and using Travelling Grate boiler
Andhra
Pradesh
2.91
4.19
7.10
0.17
6.93
Haryana
2.97
4.77
7.73
0.17
7.56
Maharashtra
2.98
4.88
7.85
0.17
7.68
Punjab
2.99
4.99
7.97
0.17
7.80
Rajasthan
2.91
4.16
7.07
0.17
6.90
Tamil Nadu
2.90
4.12
7.02
0.17
6.85
Uttar
Pradesh
2.92
4.26
7.18
0.17
7.01
Others
2.94
4.48
7.42
0.17
7.25
Bagasse Based Co-generation Project

Andhra
Pradesh
3.01
2.72
5.73
0.24
5.49
Haryana
2.71
3.86
6.57
0.21
6.36
Maharashtra
2.43
3.81
6.24
0.18
6.06
Punjab
2.66
3.40
6.06
0.21
5.85
Tamil Nadu
2.35
2.93
5.27
0.18
5.09
Uttar
Pradesh
3.04
3.03
6.07
0.24
5.83
Others
2.65
3.29
5.94
0.21
5.73
Page 48
Solar PV and Solar Thermal

Levellised Total
Tariff
(FY 2014-15)
Benefit of
Accelerated
Depreciation
(if availed)
(`/kWh)
(`/kWh)
Net Levellised
Tariff
(upon adjusting for
Accelerated
Depreciation
benefit) (if availed)
(`/kWh)
Solar PV
7.72
0.77
6.95
Solar Thermal
11.88
1.23
10.65
Particular
State
Net Levellised
Tariff
(upon adjusting
for Accelerated
Depreciation
benefit) (if
availed)
Levellised
Fixed Cost
Variable
Cost
(FY 201415)
Applicable
Tariff Rate
(FY 2014-15)
Benefit of
Accelerated
Depreciation
(if availed)
(`/kWh)
(`/kWh)
(`/kWh)
(`/kWh)
(`/kWh)
Biomass Gasifier Power Project

Andhra
Pradesh
2.44
3.82
6.26
0.13
6.13
Haryana
2.49
4.35
6.84
0.13
6.71
Maharashtra
2.50
4.45
6.95
0.13
6.82
Punjab
2.51
4.55
7.06
0.13
6.93
Rajasthan
2.44
3.80
6.24
0.13
6.11
Tamil Nadu
2.44
3.76
6.19
0.13
6.06
Uttar
Pradesh
2.45
3.89
6.34
0.13
6.21
Others
2.47
4.09
6.55
0.13
6.42
3.39
Biogas based Generation

4.01
7.40
0.25
7.15
Biogas
Page 49
74. The detailed computations for the generic tariff for various RE technologies have been
enclosed to this Order as per the details given hereunder:
S No
Wind Power Projects
Annexure
Wind Zone-I
Annexure 1A
Wind Zone-II
Annexure 1B
Wind Zone III
Annexure 1C
Wind Zone IV
Annexure 1D
Wind Zone V
Annexure 1E
Small Hydro Power Projects

Projects Less than 5 MW for HP, Uttarakhand and Annexure 2A
NE States
Projects between 5 MW and 25 MW for HP,
Annexure 2B
Uttarakhand and NE States

Projects less than 5 MW for other States
Annexure 2C
Projects between 5 MW and 25 MW for other
Annexure 2D
States
C
Biomass Power Projects [other than Rice Straw and Juliflora (plantation) based
project] with Water Cooled Condenser and using Travelling Grate boiler
Andhra Pradesh
Annexure 3A
Haryana
Annexure 3B
Maharashtra
Annexure 3C
Punjab
Annexure 3D
Rajasthan
Annexure 3E
Uttar Pradesh
Annexure 3F
Tamil Nadu
Annexure 3G
Page 50
S No
Annexure
Others
Annexure 3H
Non-Fossil Fuel Based Cogeneration

Andhra Pradesh
Annexure 4A
Haryana
Annexure 4B
Maharashtra
Annexure 4C
Punjab
Annexure 4D
Uttar Pradesh
Annexure 4E
Tamil Nadu
Annexure 4F
Others
Annexure 4G
Solar Projects
Solar PV Projects
Annexure 5A
Solar Thermal Projects
Annexure 6A
Biomass Gasifier Power Projects

Andhra Pradesh
Annexure 7A
Haryana
Annexure 7B
Maharashtra
Annexure 7C
Punjab
Annexure 7D
Rajasthan
Annexure 7E
Uttar Pradesh
Annexure 7F
Tamil Nadu
Annexure 7G
Others
Annexure 7H
Biogas based Power Projects
Sd/(Neerja Mathur)
Member (E.O.)
Sd/Sd/( A. K. Singhal) (M. Deena Dayalan)

Member
Member
Annexure 8A
Sd/(Gireesh B. Pradhan)
Chairperson
New Delhi
Dated the 15th May, 2014
Page 51
Appendix-1
Capital cost of Indexation for Wind Power Projects (FY 2014-15)
Indexation Formulation
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
d (n) = (a * (SI(n-1)/SI(0))-1) +b* (EI(n-1)/EI(0))-1)) / (a+b)
P&M(n) =P&M(0)*(1+ d (n))
Variable
a
b
F1
F2
F3
Description
Weightage for Steel Index
Weightage for Electrical Machinery Index
Factor for Land and Civil Work
Factor for Erection and Commissioning
Factor for IDC and Financing
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical Machinery
2013
2011
133.900
125.100
133.800
125.100
134.100
126.400
134.500
127.200
135.500
127.600
135.600
128.000
135.600
128.700
135.700
129.200
136.300
130.900
137.100
130.600
137.500
130.800
137.800
131.000
135.617
128.383
Value
0.60
0.40
0.08
0.07
0.10
Steel
2013
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
2011
118.600
113.000
113.000
113.000
113.000
119.600
126.200
126.200
126.200
126.200
126.200
126.200
120.617
Parameters
Description
CC(0)( ` L/MW)
Capital Cost for the Base Year
P&M(0) (` L/MW)
Plant & Machinery Cost for the Base Year
d(n)
Capital Cost escalation Factor
P&M(n) (` L/MW)
Plant & Machinery Cost for the nth Year (FY 2014-15)
CC(n) (` L/MW)
Capital Cost for the nth Year (FY 2014-15)
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry of
Industry (www.eaindustry.nic.in)
Value
575.000
460.000
5.031%
483.143
603.929
Commerce and
Page 52
Appendix-2
Capital cost of Indexation for Small Hydro Power Projects (FY 2014-15)
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
P&M(n) =P&M(0)*(1+ d (n))
Variable
a
b
F1
F2
F3
Description
Month/Year
2013
2011
January
133.900 125.100
February
133.800 125.100
March
134.100 126.400
April
134.500 127.200
May
135.500 127.600
June
135.600 128.000
July
135.600 128.700
August
135.700 129.200
September
136.300 130.900
October
137.100 130.600
November
137.500 130.800
December
137.800 131.000
Average
135.617 128.383
Value
0.60
0.40
0.16
0.10
0.14
Steel
2013
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
2011
118.600
113.000
113.000
113.000
113.000
119.600
126.200
126.200
126.200
126.200
126.200
126.200
120.617
HP/Uttrakhand/NE Other States
SHP <5 5MW-25 SHP<5
5MWParameters
Description
MW
MW
MW
25 MW
770.000 700.000 600.000 550.000
CC(0)( ` L/MW)
P&M(0) (` L/MW) Plant & Machinery Cost for the Base Year
550.000 500.000 428.571 392.857
5.031% 5.031%
5.031%
5.031%
d(n)
P&M(n) (` L/MW) Plant & Machinery Cost for the nth Year (FY 14-15)
577.671 525.155 450.133 412.622
CC(n) (` L/MW)
808.739 735.217 630.186 577.671
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in)
Page 53
Appendix-3
Capital cost of Indexation for Biomass Power Projects (FY 2014-15)
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
P&M(n) =P&M(0)*(1+ d (n))
Variable
a
b
F1
F2
F3
Description
Month/Year
2013
2012
January
133.900 130.900
February
133.800 130.900
March
134.100 130.900
April
134.500 130.700
May
135.500 131.200
June
135.600 132.200
July
135.600 133.000
August
135.700 133.200
September
136.300 133.100
October
137.100 133.100
November
137.500 133.600
December
137.800 133.600
Average
135.617 132.200
Value
0.7
0.3
0.10
0.09
0.14
Steel
2013
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
2012
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
Biomass Power Projects (Rankine Cycle)
a*
b*
c*
d*
Parameters
Description
CC(0)( ` L/MW)
Capital Cost for the Base Year : (FY 13-14)
540.000
P&M(0) (` L/MW) Plant & Machinery Cost for the Base Year: (FY 13-14)
406.015
d(n)
0.775%
P&M(n) (` L/MW) Plant & Machinery Cost for the nth Year (FY 14-15)
409.163
CC(n) (` L/MW)
544.187
Source of WPI (Steel and Electrical Machinery): Office of Economic Advisor, Ministry
of Commerce and Industry (www.eaindustry.nic.in)
580.000
436.090
0.775%
439.471
584.497
590.000
443.609
0.775%
447.049
594.575
Page 54
630.000
473.684
0.775%
477.357
634.885
* a.
b.
c.
d.
Project [other than rice straw and juliflora (plantation) based project] with water cooled
condenser;
Project [other than rice straw and Juliflora (plantation) based project] with air cooled
condenser;
For rice straw and juliflora (plantation) based project with water cooled condenser;
For rice straw and juliflora (plantation) based project with air cooled condenser.
Page 55
Appendix-4
Capital cost of Indexation for Non-fossil fuel based Cogeneration Power Projects (FY 14-15)
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
P&M(n) =P&M(0)*(1+ d (n))
Variable
a
b
F1
F2
F3
Description
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical
Machinery
2013
2011
133.900 125.100
133.800 125.100
134.100 126.400
134.500 127.200
135.500 127.600
135.600 128.000
135.600 128.700
135.700 129.200
136.300 130.900
137.100 130.600
137.500 130.800
137.800 131.000
135.617 128.383
Value
0.7
0.3
0.1
0.09
0.14
Steel
2013
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
2011
118.600
113.000
113.000
113.000
113.000
119.600
126.200
126.200
126.200
126.200
126.200
126.200
120.617
Parameters
Description
Value
CC(0)( ` L/MW)
420.000
P&M(0) (` L/MW)
315.789
d(n)
4.931%
P&M(n) (` L/MW)
331.360
CC(n) (` L/MW)
Capital Cost for the nth Year (FY2014-15)
440.708
Commerce and Industry (www.eaindustry.nic.in)
Page 56
Appendix-5
Capital cost of Indexation for Biomass Gasifier Power Projects (FY 2014-15)
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
P&M(n) =P&M(0)*(1+ d (n))
Variable
a
b
F1
F2
F3
Description
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical &
Machinery
2013
2011
133.900 125.100
133.800 125.100
134.100 126.400
134.500 127.200
135.500 127.600
135.600 128.000
135.600 128.700
135.700 129.200
136.300 130.900
137.100 130.600
137.500 130.800
137.800 131.000
135.617 128.383
Value
0.7
0.3
0.1
0.09
0.14
Iron & Steel

2013
2011
126.200 118.600
126.200 113.000
126.200 113.000
126.200 113.000
126.200 113.000
126.200 119.600
126.200 126.200
126.200 126.200
126.200 126.200
126.200 126.200
126.200 126.200
126.200 126.200
126.200 120.617
Parameters
Description
Value
CC(0)( ` L/MW)
550.000
P&M(0) (` L/MW)
413.534
d(n)
4.931%
P&M(n) (` L/MW)
433.923
CC(n) (` L/MW)
577.118
Page 57
Appendix-6
Capital cost of Indexation for Biogas based Power Projects (FY 2014-15)
CC( n ) = P&M (n) * [1 + F1 + F2 + F3]
P&M(n) =P&M(0)*(1+ d (n))
Variable
A
B
F1
F2
F3
Description
Electrical
Machinery
Month/Year
2013
2011
January
133.900 125.100
February
133.800 125.100
March
134.100 126.400
April
134.500 127.200
May
135.500 127.600
June
135.600 128.000
July
135.600 128.700
August
135.700 129.200
September
136.300 130.900
October
137.100 130.600
November
137.500 130.800
December
137.800 131.000
Average
135.617 128.383
Value
0.7
0.3
0.1
0.09
0.14
Steel
2013
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
126.200
2011
118.600
113.000
113.000
113.000
113.000
119.600
126.200
126.200
126.200
126.200
126.200
126.200
120.617
Parameters
Description
Value
CC(0)( ` L/MW)
1100.000
P&M(0) ` /MW)
827.068
d(n)
4.931%
P&M(n) (` L/MW)
Plant & Machinery Cost for the nth Year (FY 2014-15) 867.847
CC(n) (` L/MW)
1154.236
Page 58
Appendix-7
Biomass Fuel Price across States for FY 2014-15
As per fuel price Index Mechanism outlined under Regulation 45 and the availability of required
information
Fuel Price indexation for Biomass Power Projects (FY2014-15)
P(n) = P(n-1)*{a*(WPI(n)/WPI(n-1)+b*(1+IRC(n-1)+c*(Pd(n)/Pd(n-1))}
Parameter
WPI n-1
WPI n
IRC n-1
Pd n-1
Pd n
A
B
C
Value
163.500
171.300
9.81%
175.242
210.908
0.20
0.60
0.20
State
Andhra Pradesh
Haryana
Maharashtra
Punjab
Rajasthan
Tamil Nadu
Uttar Pradesh
Other States
Biomass price
(` /MT)
(2013-14)
2480.55
2823.44
2887.73
2953.09
2464.48
2439.83
2523.41
2653.07
Biomass price
(` /MT)
(2014-15)
2751.20
3131.50
3202.80
3275.29
2733.37
2706.03
2798.73
2942.54
Note:
1.
The Calculation of WPI (n) and WPI (n-1) is based on the figures available on April 2013 and
April 2012 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price of HSD) figures
available for the months from January 2013 to December 2013.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI (Price of HSD)
figures available for the months from January 2012 to December 2012.
Page 59
4.
The Calculation of Pd (n) and Pd (n-1) are shown as under:

WPI (Price of HSD)
Month
2013
2012
Jan
198.800
167.800
Feb
202.700
167.800
Mar
201.700
167.800
Apr
202.300
167.800
May
203.400
167.800
Jun
207.000
167.800
Jul
212.000
167.800
Aug
215.400
168.600
Sep
219.800
182.800
Oct
220.400
192.300
Nov
222.400
192.300
Dec
225.000
192.300
Average
Pd (n) :210.908
Pd (n-1) : 175.242
Source of WPI and WPI (Price of HSD): Office of Economic Advisor, Ministry of Commerce and
Industry (www.eaindustry.nic.in),
From
01-04-2013
01-10-2013
To
30-09-2013
31-03-2014
IRC
9.82%
9.80%
Total
Days
183
182
365
Average IRC
9.81%
Source of IRC: CERC (www.cercind.gov.in)
Page 60
Appendix-8
bagasse Fuel Price across States for FY 2014-15
information
Fuel Price indexation for Bagasse Power Projects (FY2014-14)
Parameter
WPI (n-1)
WPI (n)
IRC (n-1)
Pd (n-1)
Pd (n)
A
B
C
Value
163.500
171.300
9.81%
175.242
210.908
0.20
0.60
0.20
State
Bagasse price
(`/MT)
(2013-14)
Bagasse price
(`/MT)
(2014-15)
Andhra Pradesh
Haryana
1400.47
1991.94
1553.27
2209.27
Maharashtra
Punjab
Tamil Nadu
Uttar Pradesh
Other States
1963.01
1753.00
1508.69
1562.27
1696.20
2177.19
1944.26
1673.30
1732.72
1881.27
Note:
1.
The Calculation of WPI (n) and WPI (n-1) is based on the figures available on
April 2013 and April 2012 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price
of HSD) figures available for the months from January 2013 to December 2013.
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI
(Price of HSD) figures available for the months from January 2012 to December
2012.
4.

Page 61
WPI (Price of HSD)

Month
2013
2012
Jan
198.800
167.800
Feb
202.700
167.800
Mar
201.700
167.800
Apr
202.300
167.800
May
203.400
167.800
Jun
207.000
167.800
Jul
212.000
167.800
Aug
215.400
168.600
Sep
219.800
182.800
Oct
220.400
192.300
Nov
222.400
192.300
Dec
225.000
192.300
Average
Pd (n) :210.908
Pd (n-1) : 175.242
Source of WPI and WPI (Price of HSD): Office of Economic Advisor, Ministry of Commerce and Industry
(www.eaindustry.nic.in),
From
01-04-2013
01-10-2013
To
30-09-2013
31-03-2014
IRC
9.82%
9.81%
Days
183
182
Total 365
Average IRC
9.81%
Page 62
Appendix-9
Biomass Gasifier Fuel Price across States for FY 2014-15
information
Fuel Price indexation for Biomass gasifier Power Projects (FY2014-15)
Parameter
WPI (n-1)
WPI (n)
IRC (n-1)
Pd (n-1)
Pd (n)
A
B
C
State
Andhra Pradesh
Haryana
Maharashtra
Punjab
Rajasthan
Tamil Nadu
Uttar Pradesh
Other States
Value
163.500
171.300
9.81%
175.242
210.908
0.20
0.60
0.20
Biomass price
Biomass price
(` /MT)
(2013-14)
2480.55
2823.44
2887.73
2953.09
2464.48
2439.83
2523.41
2653.07
(` /MT)
(2014-15)
2751.20
3131.50
3202.80
3275.29
2733.37
2706.03
2798.73
2942.54
Note:
1.
The Calculation of WPI (n) and WPI (n-1) is based on the figures available on April 2013
and April 2012 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price of HSD)
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI (Price of HSD)
4.
Page 63
WPI (Price of HSD)

Month
2013
2012
Jan
198.800
167.800
Feb
202.700
167.800
Mar
201.700
167.800
Apr
202.300
167.800
May
203.400
167.800
Jun
207.000
167.800
Jul
212.000
167.800
Aug
215.400
168.600
Sep
219.800
182.800
Oct
220.400
192.300
Nov
222.400
192.300
Dec
225.000
192.300
Average
Pd (n) :210.908
Pd (n-1) : 175.242
From
01-04-2013
01-10-2013
To
30-09-2013
31-03-2014
IRC
9.82%
9.81%
Days
183
182
Total 365
Average IRC
9.81%
Page 64
Appendix-10
Fuel Price for biogas based power plant for FY 2014-15
information
Fuel Price indexation for Biogas based power projects (FY2014-15)
Parameter
WPI (n-1)
WPI (n)
IRC (n-1)
Pd (n-1)
Pd (n)
A
B
C
Value
163.500
171.300
9.81%
175.242
210.908
0.20
0.60
0.20
Fuel price
(` /MT)
(2013-14)
1060.80
Fuel price
(` /MT)
(2014-15)
1176.54
Note:
1.
The Calculation of WPI (n) and WPI (n-1) is based on the figures available on April 2013 and
April 2012 respectively.
2.
The Calculation of Pd (n) is based on the weighted average of the WPI (Price of HSD) figures
3.
The Calculation of Pd (n-1) is based on the weighted average of the WPI (Price of HSD) figures
4.
Page 65
Month
WPI (Price of HSD)

2013
2012
Jan
198.800
167.800
Feb
202.700
167.800
Mar
201.700
167.800
Apr
202.300
167.800
May
203.400
167.800
Jun
207.000
167.800
Jul
212.000
167.800
Aug
215.400
168.600
Sep
219.800
182.800
Oct
220.400
192.300
Nov
222.400
192.300
Dec
225.000
192.300
Average
Pd (n) :210.908
Pd (n-1) : 175.242
From
01-04-2013
01-10-2013
To
30-09-2013
31-03-2014
IRC
9.82%
9.81%
Days
183
182
Total 365
Average IRC
9.81%
Page 66
Annexure 1A
Assumptions: Wind Energy Projects
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
1
Power Generation
Capacity
Installed Power Generation Capacity
Useful Life
MW
%
Years
1
20%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422.750
181.179
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
422.75
0
12
12.70%
Rs Lacs
% p.a
Year
181.18
20.00%
10
Return on Equity 11th year onwards

Weighted average of ROE
Discount Rate
% p.a
24.00%
22.40%
10.67%
Income Tax
33.990%
Depreciation Rate for first 12 years

Depreciation Rate 13th year onwards
Years for 5.83% rate
%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
603.929
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
16% Return on Equity for first 10 years
RoE Period
4 Financial Assumptions
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
(% of O&M exepenses)
Receivables for Debtors
For Variable Charges
Interest On Working Capital
6 Operation & Maintenance
O &M (FY14-15)
Total O & M Expenses Escalation
O &M (FY13-14)
Months
Months
%
1
15%
2
13.20%
Rs Lacs/MW
%
Rs Lacs/MW
Page 67
10.05
5.72%
9.51
Determination of Tariff
1
Units Generation
Installed Capacity
Gross/Net Generation
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
2
1
1.75
0.816
3
1
1.75
0.738
4
1
1.75
0.667
5
1
1.75
0.602
6
1
1.75
0.544
7
1
1.75
0.492
8
1
1.75
0.444
9
1
1.75
0.402
10
1
1.75
0.363
11
1
1.75
0.328
12
1
1.75
Unit Year--->
1
2
3
4
5
6
7
8
9
10
11
12
Rs Lakh
10.05 10.63 11.24 11.88 12.56 13.28 14.04 14.84 15.69 16.59 17.54 18.54
Rs Lakh
35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21
Rs Lakh
51.45 46.98 42.50 38.03 33.56 29.08 24.61 20.13 15.66 11.19 6.71
2.24
Rs Lakh
3.31
3.24
3.17
3.10
3.04
2.98
2.92
2.86
2.81
2.75
2.87
2.82
Rs Lakh
36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 43.48 43.48
Rs Lakh
136.26 132.29 128.36 124.46 120.60 116.78 113.01 109.28 105.60 101.97 105.81 102.29
Levallised tariff corresponding to Useful life

Per Unit Cost of Generation
Unit Levellised
O&M expn
Rs/kWh
0.92
Depreciation
Rs/kWh
1.66
Int. on term loan
Rs/kWh
1.40
Int. on working capital
Rs/kWh
0.17
RoE
Rs/kWh
2.20
Total COG
Rs/kWh 6.34
Levellised
Discount Factor
Levellised Tariff
1
1
1.75
0.904
6.34
1
0.57
2.01
2.94
0.19
2.07
7.78
2
0.61
2.01
2.68
0.18
2.07
7.55
1
0.904
3
0.64
2.01
2.43
0.18
2.07
7.33
0.816
4
0.68
2.01
2.17
0.18
2.07
7.10
0.738
5
0.72
2.01
1.92
0.17
2.07
6.88
0.667
6
0.76
2.01
1.66
0.17
2.07
6.67
0.602
7
0.80
2.01
1.40
0.17
2.07
6.45
0.544
8
0.85
2.01
1.15
0.16
2.07
6.24
0.492
9
0.90
2.01
0.89
0.16
2.07
6.03
0.444
10
0.95
2.01
0.64
0.16
2.07
5.82
0.402
11
1.00
2.01
0.38
0.16
2.48
6.04
0.363
12
1.06
2.01
0.13
0.16
2.48
5.84
0.328
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.088
13
1
1.75
14
1
1.75
15
1
1.75
16
1
1.75
17
1
1.75
18
1
1.75
19
1
1.75
20
1
1.75
21
1
1.75
22
1
1.75
23
1
1.75
24
1
1.75
25
1
1.75
13
19.60
9.31
0.00
2.25
43.48
74.64
14
20.72
9.31
0.00
2.31
43.48
75.82
15
21.90
9.31
0.00
2.37
43.48
77.07
16
23.16
9.31
0.00
2.44
43.48
78.39
17
24.48
9.31
0.00
2.51
43.48
79.78
18
25.88
9.31
0.00
2.58
43.48
81.26
19
27.36
9.31
0.00
2.66
43.48
82.82
20
28.93
9.31
0.00
2.75
43.48
84.47
21
30.58
9.31
0.00
2.84
43.48
86.21
22
32.33
9.31
0.00
2.93
43.48
88.06
23
34.18
9.31
0.00
3.03
43.48
90.01
24
36.14
9.31
0.00
3.14
43.48
92.07
25
38.20
9.31
0.00
3.25
43.48
94.25
13
1.12
0.53
0.00
0.13
2.48
4.26
14
1.18
0.53
0.00
0.13
2.48
4.33
15
1.25
0.53
0.00
0.14
2.48
4.40
16
1.32
0.53
0.00
0.14
2.48
4.47
17
1.40
0.53
0.00
0.14
2.48
4.55
18
1.48
0.53
0.00
0.15
2.48
4.64
19
1.56
0.53
0.00
0.15
2.48
4.73
20
1.65
0.53
0.00
0.16
2.48
4.82
21
1.75
0.53
0.00
0.16
2.48
4.92
22
1.85
0.53
0.00
0.17
2.48
5.03
23
1.95
0.53
0.00
0.17
2.48
5.14
24
2.06
0.53
0.00
0.18
2.48
5.26
25
2.18
0.53
0.00
0.19
2.48
5.38
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
Rs/Unit
0.097
Page 68
0.097
0.088
Determination of Accelerated Depreciation for Wind Power Projects

Depreciation amount
Book Depreciation rate
Tax Depreciation rate
Additional Depriciation
Income Tax (Normal Rates)
Capital Cost Rs. Lakh
90%
5.28%
15%
20.00%
33.990%
603.929
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.94
2
5.28%
31.89
3
5.28%
31.89
4
5.28%
31.89
5
5.28%
31.89
6
5.28%
31.89
7
5.28%
31.89
8
5.28%
31.89
9
5.28%
31.89
10
5.28%
31.89
11
5.28%
31.89
12
5.28%
31.89
13
5.28%
31.89
14
5.28%
31.89
15
5.28%
31.89
16
5.28%
31.89
17
5.28%
31.89
18
2.88%
17.39
19
0.00%
0.00
20
0.00%
0.00
Accelerated Depreciation
Opening
Allowed during the year
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
17.50%
83%
105.69
82.50%
20.63%
62%
124.56
61.88%
9.28%
52.59%
56.05
52.59%
7.89%
44.70%
47.64
44.70%
6.71%
38.00%
40.50
38.00%
5.70%
32.30%
34.42
32.30%
4.84%
27.45%
29.26
27.45%
4.12%
23.34%
24.87
23.34%
3.50%
19.84%
21.14
19.84%
2.98%
16.86%
17.97
16.86%
2.53%
14.33%
15.27
14.33%
2.15%
12.18%
12.98
12.18%
1.83%
10.35%
11.04
10.35%
1.55%
8.80%
9.38
8.80%
1.32%
7.48%
7.97
7.48%
1.12%
6.36%
6.78
6.36%
0.95%
5.41%
5.76
5.41%
0.81%
4.59%
4.90
4.59%
0.69%
3.91%
4.16
3.91%
0.59%
3.32%
3.54
Net Depreciation Benefit

Tax Benefit
Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
89.74
30.50
0.88
3.48
92.67
31.50
1.75
1.80
24.16
8.21
1.75
0.47
15.76
5.36
1.75
0.31
8.61
2.93
1.75
0.17
2.54
0.86
1.75
0.05
-2.63
-0.89
1.75
-0.05
-7.02
-2.39
1.75
-0.14
-10.75
-3.65
1.75
-0.21
-13.92
-4.73
1.75
-0.27
-16.61
-5.65
1.75
-0.32
-18.90
-6.43
1.75
-0.37
-20.85
-7.09
1.75
-0.40
-22.51
-7.65
1.75
-0.44
-23.91
-8.13
1.75
-0.46
-25.11
-8.54
1.75
-0.49
-26.13
-8.88
1.75
-0.51
-12.50
-4.25
1.75
-0.24
4.16
1.41
1.75
0.08
3.54
1.20
1.75
0.07
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.34
Rs/Unit
Page 69
Annexure-1B
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
2
Power Generation
Capacity
Useful Life
MW
%
Years
1
22%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422.750
181.179
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
422.75
0
12
12.70%
Rs Lacs
% p.a
Year
181.18
20.00%
10

Discount Rate
% p.a
24.00%
22.40%
10.67%
Income Tax
33.990%

%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
603.929
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
RoE Period
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
O &M (FY14-15)
O &M (FY13-14)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.20%
10.05
5.72%
9.51
Page 70
1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
2
1
1.93
0.816
3
1
1.93
0.738
4
1
1.93
0.667
5
1
1.93
0.602
6
1
1.93
0.544
7
1
1.93
0.492
8
1
1.93
0.444
9
1
1.93
0.402
10
1
1.93
0.363
11
1
1.93
0.328
12
1
1.93
Unit Year---> 1
2
3
4
5
6
7
8
9
10
11
12
Rs Lakh
10.05 10.63 11.24 11.88 12.56 13.28 14.04 14.84 15.69 16.59 17.54 18.54
Rs Lakh
35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21
Rs Lakh
51.45 46.98 42.50 38.03 33.56 29.08 24.61 20.13 15.66 11.19 6.71
2.24
Rs Lakh
3.31
3.24
3.17
3.10
3.04
2.98
2.92
2.86
2.81
2.75
2.87
2.82
Rs Lakh
36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 43.48 43.48
Rs Lakh
136.26 132.29 128.36 124.46 120.60 116.78 113.01 109.28 105.60 101.97 105.81 102.29

Unit Levellised
O&M expn
Rs/kWh 0.83
Depreciation
Rs/kWh 1.51
Int. on term loan
Rs/kWh 1.27
Rs/kWh 0.15
RoE
Rs/kWh 2.00
Total COG
Rs/kWh 5.76
Levellised
Discount Factor
Levellised Tariff
1
1
1.93
0.904
5.76
1
0.52
1.83
2.67
0.17
1.88
7.07
2
0.55
1.83
2.44
0.17
1.88
6.86
1
0.904
3
0.58
1.83
2.21
0.16
1.88
6.66
0.816
4
0.62
1.83
1.97
0.16
1.88
6.46
0.738
5
0.65
1.83
1.74
0.16
1.88
6.26
0.667
6
0.69
1.83
1.51
0.15
1.88
6.06
0.602
7
0.73
1.83
1.28
0.15
1.88
5.86
0.544
8
0.77
1.83
1.04
0.15
1.88
5.67
0.492
9
0.81
1.83
0.81
0.15
1.88
5.48
0.444
10
0.86
1.83
0.58
0.14
1.88
5.29
0.402
11
0.91
1.83
0.35
0.15
2.26
5.49
0.363
12
0.96
1.83
0.12
0.15
2.26
5.31
0.328
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.088
13
1
1.93
14
1
1.93
15
1
1.93
16
1
1.93
17
1
1.93
18
1
1.93
19
1
1.93
20
1
1.93
21
1
1.93
22
1
1.93
23
1
1.93
24
1
1.93
25
1
1.93
13
19.60
9.31
0.00
2.25
43.48
74.64
14
20.72
9.31
0.00
2.31
43.48
75.82
15
21.90
9.31
0.00
2.37
43.48
77.07
16
23.16
9.31
0.00
2.44
43.48
78.39
17
24.48
9.31
0.00
2.51
43.48
79.78
18
25.88
9.31
0.00
2.58
43.48
81.26
19
27.36
9.31
0.00
2.66
43.48
82.82
20
28.93
9.31
0.00
2.75
43.48
84.47
21
30.58
9.31
0.00
2.84
43.48
86.21
22
32.33
9.31
0.00
2.93
43.48
88.06
23
34.18
9.31
0.00
3.03
43.48
90.01
24
36.14
9.31
0.00
3.14
43.48
92.07
25
38.20
9.31
0.00
3.25
43.48
94.25
13
1.02
0.48
0.00
0.12
2.26
3.87
14
1.08
0.48
0.00
0.12
2.26
3.93
15
1.14
0.48
0.00
0.12
2.26
4.00
16
1.20
0.48
0.00
0.13
2.26
4.07
17
1.27
0.48
0.00
0.13
2.26
4.14
18
1.34
0.48
0.00
0.13
2.26
4.22
19
1.42
0.48
0.00
0.14
2.26
4.30
20
1.50
0.48
0.00
0.14
2.26
4.38
21
1.59
0.48
0.00
0.15
2.26
4.47
22
1.68
0.48
0.00
0.15
2.26
4.57
23
1.77
0.48
0.00
0.16
2.26
4.67
24
1.88
0.48
0.00
0.16
2.26
4.78
25
1.98
0.48
0.00
0.17
2.26
4.89
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
Rs/Unit
0.097
Page 71
0.097
0.088

Depreciation amount
90%
5.28%
15%
20.00%
33.990%
603.929
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.94
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
17.50%
83%
105.69

Tax Benefit
Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
89.74
30.50
0.96
3.17
92.67
31.50
1.93
1.63
24.16
8.21
1.93
0.43
15.76
5.36
1.93
0.28
8.61
2.93
1.93
0.15
2.54
0.86
1.93
0.04
-2.63
-0.89
1.93
-0.05
-7.02
-2.39
1.93
-0.12
-10.75
-3.65
1.93
-0.19
-13.92
-4.73
1.93
-0.25
-16.61
-5.65
1.93
-0.29
-18.90
-6.43
1.93
-0.33
-20.85
-7.09
1.93
-0.37
1.00
Rs/Unit
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
Discounting Factor
Levellised benefit
0.31
2
5.28%
31.89
3
5.28%
31.89
4
5.28%
31.89
5
5.28%
31.89
6
5.28%
31.89
7
5.28%
31.89
8
5.28%
31.89
9
5.28%
31.89
82.50% 61.88% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34%

20.63% 9.28% 7.89% 6.71% 5.70% 4.84% 4.12% 3.50%
62% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34% 19.84%
124.56
56.05
47.64
40.50
34.42
29.26
24.87
21.14
10
5.28%
31.89
11
5.28%
31.89
12
5.28%
31.89
13
5.28%
31.89
14
5.28%
31.89
15
5.28%
31.89
16
5.28%
31.89
17
5.28%
31.89
18
2.88%
17.39
19
0.00%
0.00
20
0.00%
0.00
19.84% 16.86% 14.33% 12.18% 10.35%

2.98% 2.53% 2.15% 1.83% 1.55%
16.86% 14.33% 12.18% 10.35% 8.80%
17.97
15.27
12.98
11.04
9.38
8.80%
1.32%
7.48%
7.97
7.48%
1.12%
6.36%
6.78
6.36%
0.95%
5.41%
5.76
5.41%
0.81%
4.59%
4.90
4.59%
0.69%
3.91%
4.16
3.91%
0.59%
3.32%
3.54
-22.51
-7.65
1.93
-0.40
-23.91
-8.13
1.93
-0.42
-25.11
-8.54
1.93
-0.44
-26.13
-8.88
1.93
-0.46
-12.50
-4.25
1.93
-0.22
4.16
1.41
1.93
0.07
3.54
1.20
1.93
0.06
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 72
Annexure-1C
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
3
Power Generation
Capacity
Useful Life
MW
%
Years
1
25%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422.750
181.179
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
422.75
0
12
12.70%
Rs Lacs
% p.a
Year
181.18
20.00%
10

Discount Rate
% p.a
24.00%
22.40%
10.67%
Income Tax
33.990%

%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
603.929
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
RoE Period
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
O &M (FY14-15)
O &M (FY13-14)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.20%
10.05
5.72%
9.51
Page 73
1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
2
1
2.19
0.816
3
1
2.19
0.738
4
1
2.19
0.667
5
1
2.19
0.602
6
1
2.19
0.544
7
1
2.19
0.492
8
1
2.19
0.444
9
1
2.19
0.402
10
1
2.19
0.363
11
1
2.19
0.328
12
1
2.19
Unit Year---> 1
2
3
4
5
6
7
8
9
10
11
12
Rs Lakh
10.05 10.63 11.24 11.88 12.56 13.28 14.04 14.84 15.69 16.59 17.54 18.54
Rs Lakh
35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21
Rs Lakh
51.45 46.98 42.50 38.03 33.56 29.08 24.61 20.13 15.66 11.19 6.71 2.24
Rs Lakh
3.31 3.24 3.17 3.10 3.04 2.98 2.92 2.86 2.81 2.75 2.87 2.82
Rs Lakh
36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 43.48 43.48
Rs Lakh
136.26 132.29 128.36 124.46 120.60 116.78 113.01 109.28 105.60 101.97 105.81 102.29

Per Unit Cost of Generation Unit Levellised
O&M expn
Rs/kWh 0.73
Depreciation
Rs/kWh 1.33
Int. on term loan
Rs/kWh 1.12
Rs/kWh 0.13
RoE
Rs/kWh 1.76
Total COG
Rs/kWh 5.07
Levellised
Discount Factor
Levellised Tariff
1
1
2.19
0.904
5.07
1
0.46
1.61
2.35
0.15
1.65
6.22
2
0.49
1.61
2.15
0.15
1.65
6.04
1
0.904
3
0.51
1.61
1.94
0.14
1.65
5.86
0.816
4
0.54
1.61
1.74
0.14
1.65
5.68
0.738
5
0.57
1.61
1.53
0.14
1.65
5.51
0.667
6
0.61
1.61
1.33
0.14
1.65
5.33
0.602
7
0.64
1.61
1.12
0.13
1.65
5.16
0.544
8
0.68
1.61
0.92
0.13
1.65
4.99
0.492
9
0.72
1.61
0.72
0.13
1.65
4.82
0.444
10
0.76
1.61
0.51
0.13
1.65
4.66
0.402
11
0.80
1.61
0.31
0.13
1.99
4.83
0.363
12
0.85
1.61
0.10
0.13
1.99
4.67
0.328
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.097
13
1
2.19
14
1
2.19
15
1
2.19
16
1
2.19
17
1
2.19
18
1
2.19
19
1
2.19
20
1
2.19
21
1
2.19
22
1
2.19
23
1
2.19
24
1
2.19
25
1
2.19
13
19.60
9.31
0.00
2.25
43.48
74.64
14
20.72
9.31
0.00
2.31
43.48
75.82
15
21.90
9.31
0.00
2.37
43.48
77.07
16
23.16
9.31
0.00
2.44
43.48
78.39
17
24.48
9.31
0.00
2.51
43.48
79.78
18
25.88
9.31
0.00
2.58
43.48
81.26
19
27.36
9.31
0.00
2.66
43.48
82.82
20
28.93
9.31
0.00
2.75
43.48
84.47
21
30.58
9.31
0.00
2.84
43.48
86.21
22
32.33
9.31
0.00
2.93
43.48
88.06
23
34.18
9.31
0.00
3.03
43.48
90.01
24
36.14
9.31
0.00
3.14
43.48
92.07
25
38.20
9.31
0.00
3.25
43.48
94.25
13
0.89
0.43
0.00
0.10
1.99
3.41
14
0.95
0.43
0.00
0.11
1.99
3.46
15
1.00
0.43
0.00
0.11
1.99
3.52
16
1.06
0.43
0.00
0.11
1.99
3.58
17
1.12
0.43
0.00
0.11
1.99
3.64
18
1.18
0.43
0.00
0.12
1.99
3.71
19
1.25
0.43
0.00
0.12
1.99
3.78
20
1.32
0.43
0.00
0.13
1.99
3.86
21
1.40
0.43
0.00
0.13
1.99
3.94
22
1.48
0.43
0.00
0.13
1.99
4.02
23
1.56
0.43
0.00
0.14
1.99
4.11
24
1.65
0.43
0.00
0.14
1.99
4.20
25
1.74
0.43
0.00
0.15
1.99
4.30
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.097
Rs/Unit
0.088
Page 74
0.088

Depreciation amount
90%
5.28%
15%
20.00%
33.990%
603.929
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.94
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
17.50%
83%
105.69

Tax Benefit
Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
89.74
30.50
1.10
2.79
92.67
31.50
2.19
1.44
24.16
8.21
2.19
0.38
15.76
5.36
2.19
0.24
8.61
2.93
2.19
0.13
2.54
0.86
2.19
0.04
-2.63
-0.89
2.19
-0.04
-7.02
-2.39
2.19
-0.11
-10.75
-3.65
2.19
-0.17
-13.92
-4.73
2.19
-0.22
-16.61
-5.65
2.19
-0.26
-18.90
-6.43
2.19
-0.29
-20.85
-7.09
2.19
-0.32
1.00
Rs/Unit
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
Discounting Factor
Levellised benefit
0.28
2
5.28%
31.89
3
5.28%
31.89
4
5.28%
31.89
5
5.28%
31.89
6
5.28%
31.89
7
5.28%
31.89
8
5.28%
31.89
9
5.28%
31.89
82.50% 61.88% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34%

20.63% 9.28% 7.89% 6.71% 5.70% 4.84% 4.12% 3.50%
62% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34% 19.84%
124.56
56.05
47.64
40.50
34.42
29.26
24.87
21.14
10
5.28%
31.89
11
5.28%
31.89
12
5.28%
31.89
13
5.28%
31.89
14
5.28%
31.89
15
5.28%
31.89
16
5.28%
31.89
17
5.28%
31.89
18
2.88%
17.39
19
0.00%
0.00
20
0.00%
0.00
19.84% 16.86% 14.33% 12.18% 10.35%

2.98% 2.53% 2.15% 1.83% 1.55%
16.86% 14.33% 12.18% 10.35% 8.80%
17.97
15.27
12.98
11.04
9.38
8.80%
1.32%
7.48%
7.97
7.48%
1.12%
6.36%
6.78
6.36%
0.95%
5.41%
5.76
5.41%
0.81%
4.59%
4.90
4.59%
0.69%
3.91%
4.16
3.91%
0.59%
3.32%
3.54
-22.51
-7.65
2.19
-0.35
-23.91
-8.13
2.19
-0.37
-25.11
-8.54
2.19
-0.39
-26.13
-8.88
2.19
-0.41
-12.50
-4.25
2.19
-0.19
4.16
1.41
2.19
0.06
3.54
1.20
2.19
0.05
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 75
Annexure-1D
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
4
Power Generation
Capacity
Useful Life
MW
%
Years
1
30%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422.750
181.179
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
422.75
0
12
12.70%
Rs Lacs
% p.a
Year
181.18
20.00%
10

Discount Rate
% p.a
24.00%
22.40%
10.67%
Income Tax
33.990%

%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
603.929
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
RoE Period
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
O &M (FY14-15)
O &M (FY13-14)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.20%
10.05
5.72%
9.51
Page 76
1 0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
5
1
2.63
6
1
2.63
7
1
2.63
8
1
2.63
9
1
2.63
10
1
2.63
11
1
2.63
12
1
2.63
13
1
2.63
Unit Year---> 1
2
3
4
5
Rs Lakh
10.05 10.63 11.24 11.88 12.56
Rs Lakh
35.21 35.21 35.21 35.21 35.21
Rs Lakh
51.45 46.98 42.50 38.03 33.56
Rs Lakh
3.31 3.24 3.17 3.10 3.04
Rs Lakh
36.24 36.24 36.24 36.24 36.24
Rs Lakh
136.26 132.29 128.36 124.46 120.60
6
13.28
35.21
29.08
2.98
36.24
116.78
7
14.04
35.21
24.61
2.92
36.24
113.01
8
14.84
35.21
20.13
2.86
36.24
109.28
9
15.69
35.21
15.66
2.81
36.24
105.60
10
16.59
35.21
11.19
2.75
36.24
101.97
11
17.54
35.21
6.71
2.87
43.48
105.81
12
18.54
35.21
2.24
2.82
43.48
102.29
13
14
15
16
17
18
19
20
21
22
23
24
25
19.60 20.72 21.90 23.16 24.48 25.88 27.36 28.93 30.58 32.33 34.18 36.14 38.20
9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31 9.31
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
2.25 2.31 2.37 2.44 2.51 2.58 2.66 2.75 2.84 2.93 3.03 3.14 3.25
43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48 43.48
74.64 75.82 77.07 78.39 79.78 81.26 82.82 84.47 86.21 88.06 90.01 92.07 94.25
6
0.51
1.34
1.11
0.11
1.38
4.44
7
0.53
1.34
0.94
0.11
1.38
4.30
8
0.56
1.34
0.77
0.11
1.38
4.16
9
0.60
1.34
0.60
0.11
1.38
4.02
10
0.63
1.34
0.43
0.10
1.38
3.88
11
0.67
1.34
0.26
0.11
1.65
4.03
12
0.71
1.34
0.09
0.11
1.65
3.89
13
0.75
0.35
0.00
0.09
1.65
2.84
Unit
MW
MU
Year--->

Per Unit Cost of Generation Unit Levellised
O&M expn
Rs/kWh 0.61
Depreciation
Rs/kWh 1.11
Int. on term loan
Rs/kWh 0.93
Rs/kWh 0.11
RoE
Rs/kWh 1.46
Total COG
Rs/kWh 4.23
Levellised
Discount Factor
Levellised Tariff
1
1
2.63
1
0.38
1.34
1.96
0.13
1.38
5.18
2
1
2.63
2
0.40
1.34
1.79
0.12
1.38
5.03
3
1
2.63
3
0.43
1.34
1.62
0.12
1.38
4.88
4
1
2.63
4
0.45
1.34
1.45
0.12
1.38
4.74
5
0.48
1.34
1.28
0.12
1.38
4.59
14
1
2.63
14
0.79
0.35
0.00
0.09
1.65
2.89
15
1
2.63
15
0.83
0.35
0.00
0.09
1.65
2.93
16
1
2.63
16
0.88
0.35
0.00
0.09
1.65
2.98
17
1
2.63
17
0.93
0.35
0.00
0.10
1.65
3.04
18
1
2.63
18
0.98
0.35
0.00
0.10
1.65
3.09
19
1
2.63
19
1.04
0.35
0.00
0.10
1.65
3.15
20
1
2.63
20
1.10
0.35
0.00
0.10
1.65
3.21
21
1
2.63
21
1.16
0.35
0.00
0.11
1.65
3.28
22
1
2.63
22
1.23
0.35
0.00
0.11
1.65
3.35
23
1
2.63
23
1.30
0.35
0.00
0.12
1.65
3.42
24
1
2.63
24
1.38
0.35
0.00
0.12
1.65
3.50
25
1
2.63
25
1.45
0.35
0.00
0.12
1.65
3.59
1 0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088
4.23 Rs/Unit
Page 77

Depreciation amount
90%
5.28%
15%
20.00%
33.990%
603.929
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.23
1
2.64%
15.94
2
5.28%
31.89
3
5.28%
31.89
4
5.28%
31.89
5
5.28%
31.89
6
5.28%
31.89
7
5.28%
31.89
8
5.28%
31.89
9
5.28%
31.89
100.00% 82.50% 61.88% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34%

17.50% 20.63% 9.28% 7.89% 6.71% 5.70% 4.84% 4.12% 3.50%
83%
62% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34% 19.84%
105.69 124.56
56.05
47.64
40.50
34.42
29.26
24.87
21.14
10
5.28%
31.89
11
5.28%
31.89
12
5.28%
31.89
13
5.28%
31.89
14
5.28%
31.89
15
5.28%
31.89
16
5.28%
31.89
17
5.28%
31.89
18
2.88%
17.39
19
0.00%
0.00
20
0.00%
0.00
19.84% 16.86% 14.33% 12.18% 10.35%

2.98% 2.53% 2.15% 1.83% 1.55%
16.86% 14.33% 12.18% 10.35% 8.80%
17.97
15.27
12.98
11.04
9.38
8.80%
1.32%
7.48%
7.97
7.48%
1.12%
6.36%
6.78
6.36%
0.95%
5.41%
5.76
5.41%
0.81%
4.59%
4.90
4.59%
0.69%
3.91%
4.16
3.91%
0.59%
3.32%
3.54
89.74
30.50
1.31
2.32
92.67
31.50
2.63
1.20
24.16
8.21
2.63
0.31
15.76
5.36
2.63
0.20
8.61
2.93
2.63
0.11
2.54
0.86
2.63
0.03
-2.63
-0.89
2.63
-0.03
-7.02
-2.39
2.63
-0.09
-10.75
-3.65
2.63
-0.14
-13.92
-4.73
2.63
-0.18
-16.61
-5.65
2.63
-0.21
-18.90
-6.43
2.63
-0.24
-20.85
-7.09
2.63
-0.27
-22.51
-7.65
2.63
-0.29
-23.91
-8.13
2.63
-0.31
-25.11
-8.54
2.63
-0.32
-26.13
-8.88
2.63
-0.34
-12.50
-4.25
2.63
-0.16
4.16
1.41
2.63
0.05
3.54
1.20
2.63
0.05
1.00
Rs/Unit
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 78
Annexure-1E
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone
5
Power Generation
Capacity
Useful Life
MW
%
Years
1
32%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422.750
181.179
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
422.75
0
12
12.70%
Rs Lacs
% p.a
Year
181.18
20.00%
10

Discount Rate
% p.a
24.00%
22.40%
10.67%
Income Tax
33.990%

%
%
5.83%
1.54%
12
2 Project Cost
Capital Cost/MW
603.929
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Equity amount
RoE Period
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
O &M (FY14-15)
O &M (FY13-14)
Months
Months
%
Rs Lacs/MW
%
Rs Lacs/MW
1
15%
2
13.20%
10.05
5.72%
9.51
Page 79
1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
2
1
2.80
0.816
3
1
2.80
0.738
4
1
2.80
0.667
5
1
2.80
0.602
6
1
2.80
0.544
7
1
2.80
0.492
8
1
2.80
0.444
9
1
2.80
0.402
10
1
2.80
0.363
11
1
2.80
0.328
12
1
2.80
Unit Year---> 1
2
3
4
5
6
7
8
9
10
11
12
Rs Lakh
10.05 10.63 11.24 11.88 12.56 13.28 14.04 14.84 15.69 16.59 17.54 18.54
Rs Lakh
35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21 35.21
Rs Lakh
51.45 46.98 42.50 38.03 33.56 29.08 24.61 20.13 15.66 11.19 6.71
2.24
Rs Lakh
3.31
3.24
3.17
3.10
3.04
2.98
2.92
2.86
2.81
2.75
2.87
2.82
Rs Lakh
36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 36.24 43.48 43.48
Rs Lakh
136.26 132.29 128.36 124.46 120.60 116.78 113.01 109.28 105.60 101.97 105.81 102.29

Unit Levellised
O&M expn
Rs/kWh 0.57
Depreciation
Rs/kWh 1.04
Int. on term loan
Rs/kWh 0.88
Rs/kWh 0.10
RoE
Rs/kWh 1.37
Total COG
Rs/kWh 3.96
Levellised
Discount Factor
Levellised Tariff
1
1
2.80
0.904
3.96
1
0.36
1.26
1.84
0.12
1.29
4.86
2
0.38
1.26
1.68
0.12
1.29
4.72
1
3
0.40
1.26
1.52
0.11
1.29
4.58
0.904
0.816
4
0.42
1.26
1.36
0.11
1.29
4.44
0.738
5
0.45
1.26
1.20
0.11
1.29
4.30
0.667
6
0.47
1.26
1.04
0.11
1.29
4.17
0.602
7
0.50
1.26
0.88
0.10
1.29
4.03
0.544
8
0.53
1.26
0.72
0.10
1.29
3.90
0.492
9
0.56
1.26
0.56
0.10
1.29
3.77
0.444
10
0.59
1.26
0.40
0.10
1.29
3.64
0.402
11
0.63
1.26
0.24
0.10
1.55
3.77
0.363
12
0.66
1.26
0.08
0.10
1.55
3.65
0.328
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.088
13
1
2.80
14
1
2.80
15
1
2.80
16
1
2.80
17
1
2.80
18
1
2.80
19
1
2.80
20
1
2.80
21
1
2.80
22
1
2.80
23
1
2.80
24
1
2.80
25
1
2.80
13
19.60
9.31
0.00
2.25
43.48
74.64
14
20.72
9.31
0.00
2.31
43.48
75.82
15
21.90
9.31
0.00
2.37
43.48
77.07
16
23.16
9.31
0.00
2.44
43.48
78.39
17
24.48
9.31
0.00
2.51
43.48
79.78
18
25.88
9.31
0.00
2.58
43.48
81.26
19
27.36
9.31
0.00
2.66
43.48
82.82
20
28.93
9.31
0.00
2.75
43.48
84.47
21
30.58
9.31
0.00
2.84
43.48
86.21
22
32.33
9.31
0.00
2.93
43.48
88.06
23
34.18
9.31
0.00
3.03
43.48
90.01
24
36.14
9.31
0.00
3.14
43.48
92.07
25
38.20
9.31
0.00
3.25
43.48
94.25
13
0.70
0.33
0.00
0.08
1.55
2.66
14
0.74
0.33
0.00
0.08
1.55
2.70
15
0.78
0.33
0.00
0.08
1.55
2.75
16
0.83
0.33
0.00
0.09
1.55
2.80
17
0.87
0.33
0.00
0.09
1.55
2.85
18
0.92
0.33
0.00
0.09
1.55
2.90
19
0.98
0.33
0.00
0.10
1.55
2.95
20
1.03
0.33
0.00
0.10
1.55
3.01
21
1.09
0.33
0.00
0.10
1.55
3.08
22
1.15
0.33
0.00
0.10
1.55
3.14
23
1.22
0.33
0.00
0.11
1.55
3.21
24
1.29
0.33
0.00
0.11
1.55
3.28
25
1.36
0.33
0.00
0.12
1.55
3.36
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
Rs/Unit
0.097
Page 80
0.097
0.088

Depreciation amount
90%
5.28%
15%
20.00%
33.990%
603.929
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.22
1
2.64%
15.94
2
5.28%
31.89
3
5.28%
31.89
4
5.28%
31.89
5
5.28%
31.89
6
5.28%
31.89
7
5.28%
31.89
8
5.28%
31.89
9
5.28%
31.89
100.00% 82.50% 61.88% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34%

17.50% 20.63% 9.28% 7.89% 6.71% 5.70% 4.84% 4.12% 3.50%
83%
62% 52.59% 44.70% 38.00% 32.30% 27.45% 23.34% 19.84%
105.69 124.56 56.05 47.64 40.50 34.42 29.26 24.87 21.14
10
5.28%
31.89
11
5.28%
31.89
12
5.28%
31.89
13
5.28%
31.89
14
5.28%
31.89
15
5.28%
31.89
16
5.28%
31.89
17
5.28%
31.89
18
2.88%
17.39
19
0.00%
0.00
20
0.00%
0.00
19.84% 16.86% 14.33% 12.18% 10.35%

2.98% 2.53% 2.15% 1.83% 1.55%
16.86% 14.33% 12.18% 10.35% 8.80%
17.97 15.27 12.98 11.04
9.38
8.80%
1.32%
7.48%
7.97
7.48%
1.12%
6.36%
6.78
6.36%
0.95%
5.41%
5.76
5.41%
0.81%
4.59%
4.90
4.59%
0.69%
3.91%
4.16
3.91%
0.59%
3.32%
3.54
89.74
30.50
1.40
2.18
92.67
31.50
2.80
1.12
24.16
8.21
2.80
0.29
15.76
5.36
2.80
0.19
8.61
2.93
2.80
0.10
2.54
0.86
2.80
0.03
-2.63
-0.89
2.80
-0.03
-7.02
-2.39
2.80
-0.09
-10.75
-3.65
2.80
-0.13
-13.92
-4.73
2.80
-0.17
-16.61
-5.65
2.80
-0.20
-18.90
-6.43
2.80
-0.23
-20.85
-7.09
2.80
-0.25
-22.51
-7.65
2.80
-0.27
-23.91
-8.13
2.80
-0.29
-25.11
-8.54
2.80
-0.30
-26.13
-8.88
2.80
-0.32
-12.50
-4.25
2.80
-0.15
4.16
1.41
2.80
0.05
3.54
1.20
2.80
0.04
1.00
Rs/Unit
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 81
Annexure-2A
Small Hydro: Assumptions Parameters
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
HP,
Uttarakhand
, NE States
Less than 5
MW
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW

Auxiliary
Deration Consumption
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
45%
1%
0.00%
35
808.739
35
Debt
Equity
Total Debt Amount

Total Equity Amout
Rs Lacs
Rs Lacs
566.117
242.622
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
566.12
0
12
12.70%
Equity amount
Normative ROE (Post-tax)
Return on Equity for first 10 years
RoE Period
Discount Rate
Rs Lacs
242.62
16%
20%
10
24.00%
22.86%
10.67%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No

%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
% p.a
Year
% p.a
Financial Assumptions
33.990%
20.00%
Yes
Depreciation
Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Months
Months
Intrest On Working Capital
O&M Expenses (2014-15)

Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.20%
Operation & Maintenance
27.94
5.72%
26.43
Page 82
Determination of Tariff Component:

2
3
4
5
6
7
8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Units Generation Unit Year---> 1
Installed Capacity
MW
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Net Generation
MU
3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90
Fixed Cost
Unit Year---> 1
27.94
O&M Expenses
Rs Lakh
47.15
Depreciation
Rs Lakh
68.90
Interest on term loan Rs Lakh
5.21
Rs Lakh
48.52
Return on Equity Rs Lakh
Total Fixed Cost Rs Lakh
197.73
Unit Levellised 1
O&M expn
Rs/kWh 1.27 0.72
Depreciation
Rs/kWh 0.93 1.21
Int. on term loan Rs/kWh 0.80 1.77
Int. on working capital Rs/kWh 0.14 0.13
RoE
Rs/kWh 1.33 1.24
Total COG
Rs/kWh 4.46 5.07
Levellised
Discount Factor
1
Levellised Tariff
4.46 Rs/Unit
2
29.54
47.15
62.91
5.16
48.52
193.29
3
31.23
47.15
56.92
5.12
48.52
188.94
4
33.02
47.15
50.93
5.08
48.52
184.70
5
34.90
47.15
44.94
5.05
48.52
180.56
6
36.90
47.15
38.94
5.02
48.52
176.54
7
39.01
47.15
32.95
5.00
48.52
172.64
8
41.24
47.15
26.96
4.99
48.52
168.86
9
43.60
47.15
20.97
4.98
48.52
165.22
10
46.10
47.15
14.98
4.98
48.52
161.73
11
48.73
47.15
8.99
5.20
58.23
168.30
12
51.52
47.15
3.00
5.22
58.23
165.11
13
54.47
7.05
0.00
4.41
58.23
124.15
14
57.58
7.05
0.00
4.58
58.23
127.44
15
60.88
7.05
0.00
4.75
58.23
130.91
16
64.36
7.05
0.00
4.94
58.23
134.58
17
68.04
7.05
0.00
5.14
58.23
138.46
18
71.93
7.05
0.00
5.35
58.23
142.56
19
76.05
7.05
0.00
5.57
58.23
146.90
20
80.40
7.05
0.00
5.81
58.23
151.48
21
85.00
7.05
0.00
6.06
58.23
156.33
22
89.86
7.05
0.00
6.32
58.23
161.45
23
95.00
7.05
0.00
6.60
58.23
166.87
24
100.43
7.05
0.00
6.89
58.23
172.60
25
106.18
7.05
0.00
7.20
58.23
178.65
26
112.25
7.05
0.00
7.53
58.23
185.05
27
118.67
7.05
0.00
7.88
58.23
191.82
28
125.46
7.05
0.00
8.24
58.23
198.98
29
132.63
7.05
0.00
8.63
58.23
206.54
30
140.22
7.05
0.00
9.04
58.23
214.53
31
148.24
7.05
0.00
9.47
58.23
222.99
32
156.72
7.05
0.00
9.93
58.23
231.93
33
165.69
7.05
0.00
10.41
58.23
241.37
34
175.16
7.05
0.00
10.92
58.23
251.36
35
185.18
7.05
0.00
11.47
58.23
261.92
2
0.76
1.21
1.61
0.13
1.24
4.95
3
0.80
1.21
1.46
0.13
1.24
4.84
4
0.85
1.21
1.30
0.13
1.24
4.73
5
0.89
1.21
1.15
0.13
1.24
4.63
6
0.95
1.21
1.00
0.13
1.24
4.52
7
1.00
1.21
0.84
0.13
1.24
4.42
8
1.06
1.21
0.69
0.13
1.24
4.33
9
1.12
1.21
0.54
0.13
1.24
4.23
10
1.18
1.21
0.38
0.13
1.24
4.14
11
1.25
1.21
0.23
0.13
1.49
4.31
12
1.32
1.21
0.08
0.13
1.49
4.23
13
1.40
0.18
0.00
0.11
1.49
3.18
14
1.48
0.18
0.00
0.12
1.49
3.27
15
1.56
0.18
0.00
0.12
1.49
3.35
16
1.65
0.18
0.00
0.13
1.49
3.45
17
1.74
0.18
0.00
0.13
1.49
3.55
18
1.84
0.18
0.00
0.14
1.49
3.65
19
1.95
0.18
0.00
0.14
1.49
3.76
20
2.06
0.18
0.00
0.15
1.49
3.88
21
2.18
0.18
0.00
0.16
1.49
4.01
22
2.30
0.18
0.00
0.16
1.49
4.14
23
2.43
0.18
0.00
0.17
1.49
4.28
24
2.57
0.18
0.00
0.18
1.49
4.42
25
2.72
0.18
0.00
0.18
1.49
4.58
26
2.88
0.18
0.00
0.19
1.49
4.74
27
3.04
0.18
0.00
0.20
1.49
4.92
28
3.21
0.18
0.00
0.21
1.49
5.10
29
3.40
0.18
0.00
0.22
1.49
5.29
30
3.59
0.18
0.00
0.23
1.49
5.50
31
3.80
0.18
0.00
0.24
1.49
5.71
32
4.02
0.18
0.00
0.25
1.49
5.94
33
4.25
0.18
0.00
0.27
1.49
6.18
34
4.49
0.18
0.00
0.28
1.49
6.44
35
4.75
0.18
0.00
0.29
1.49
6.71
0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088 0.079 0.072 0.065 0.059 0.053 0.048 0.043 0.039 0.035 0.032
Page 83
Determination of Accelerated Depreciation

Depreciation amount
90%
5.28%
80%
Additional depriciation
20.00%
Income Tax (Normal Rates) 33.990%
Capital Cost
808.7
Years -----------------> Unit
Book Depreciation
%
Book Depreciation
Rs Lakh
1
2
3
4
5
6
7
8
9
10
11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
2.64% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
21.35 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 42.70 23.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Opening
%
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Allowed during the year %
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Closing
%
50% 5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Accelrated Deprn.
Rs Lakh 404.37 363.93 32.35 6.47 1.29 0.26 0.05 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Rs Lakh
Rs Lakh
MU
Rs/Unit
383.02 321.23 -10.35 -36.23 -41.41 -42.44 -42.65 -42.69 -42.70 -42.70 -42.70 -42.70 -42.70 -42.70 -42.70 -42.70 -42.70 -23.29
130.19 109.19 -3.52 -12.32 -14.07 -14.43 -14.50 -14.51 -14.51 -14.51 -14.51 -14.51 -14.51 -14.51 -14.51 -14.51 -14.51 -7.92
1.95 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90
6.67 2.80 -0.09 -0.32 -0.36 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.37 -0.20
1.00 0.95 0.86 0.78 0.70 0.63 0.57 0.52 0.47 0.42 0.38 0.34 0.31 0.28 0.25 0.23 0.21 0.19
0.00
0.00
3.90
0.00
0.17
0.00
0.00
3.90
0.00
0.15
0.00
0.00
3.90
0.00
0.14
0.00
0.00
3.90
0.00
0.13
0.00
0.00
3.90
0.00
0.11
0.00
0.00
3.90
0.00
0.10
0.00
0.00
3.90
0.00
0.09
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.05
Tax Benefit Levellised

13.56
Electricity Generation (Levellised)3.72
Levellised benefit
0.36 Rs/Unit
Page 84
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.03
Annexure-2B
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
HP,
Uttarakhand
, NE States
5 MW to 25
MW
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW

Auxiliary
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
45%
1%
0.00%
35
735.217
13
Debt
Equity
Total Debt Amount

Total Equity Amout
Rs Lacs
Rs Lacs
514.652
220.565
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
514.65
0
12
12.70%
Equity amount
RoE Period
Discount Rate
Rs Lacs
220.57
16%
20%
10
24.00%
22.86%
10.67%
Income Tax
80 IA benefits
%
%
Yes/No

%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
% p.a
Year
% p.a
33.990%
20.00%
Yes
Depreciation
Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Months
Months

Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.20%
20.12
5.72%
19.03
Page 85

2
3
4
5
6
7
8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Installed Capacity
MW
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Net Generation
MU
3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90 3.90
Fixed Cost
Unit Year---> 1
20.12
O&M Expenses
Rs Lakh
42.86
Depreciation
Rs Lakh
62.64
4.45
Rs Lakh
44.11
174.18
Unit Levellised 1
O&M expn
Rs/kWh 0.91 0.52
Depreciation
Rs/kWh 0.84 1.10
RoE
Rs/kWh 1.21 1.13
Total COG
Rs/kWh 3.80 4.46
Levellised
Discount Factor
1
Levellised Tariff
3.80 Rs/Unit
2
21.27
42.86
57.19
4.39
44.11
169.83
3
22.49
42.86
51.74
4.33
44.11
165.54
4
23.77
42.86
46.30
4.28
44.11
161.33
5
25.13
42.86
40.85
4.23
44.11
157.19
6
26.57
42.86
35.40
4.19
44.11
153.14
7
28.09
42.86
29.96
4.15
44.11
149.17
8
29.70
42.86
24.51
4.11
44.11
145.29
9
31.39
42.86
19.06
4.08
44.11
141.51
10
33.19
42.86
13.62
4.05
44.11
137.84
11
35.09
42.86
8.17
4.23
52.94
143.29
12
37.10
42.86
2.72
4.22
52.94
139.84
13
39.22
6.41
0.00
3.45
52.94
102.01
14
41.46
6.41
0.00
3.57
52.94
104.38
15
43.83
6.41
0.00
3.70
52.94
106.88
16
46.34
6.41
0.00
3.84
52.94
109.52
17
48.99
6.41
0.00
3.98
52.94
112.31
18
51.79
6.41
0.00
4.13
52.94
115.27
19
54.76
6.41
0.00
4.29
52.94
118.39
20
57.89
6.41
0.00
4.46
52.94
121.69
21
61.20
6.41
0.00
4.64
52.94
125.18
22
64.70
6.41
0.00
4.83
52.94
128.87
23
68.40
6.41
0.00
5.03
52.94
132.77
24
72.31
6.41
0.00
5.24
52.94
136.89
25
76.45
6.41
0.00
5.46
52.94
141.25
26
80.82
6.41
0.00
5.70
52.94
145.86
27
85.44
6.41
0.00
5.95
52.94
150.73
28
90.33
6.41
0.00
6.21
52.94
155.88
29
95.50
6.41
0.00
6.49
52.94
161.33
30
100.96
6.41
0.00
6.79
52.94
167.09
31
106.74
6.41
0.00
7.10
52.94
173.17
32
112.84
6.41
0.00
7.43
52.94
179.61
33
119.30
6.41
0.00
7.78
52.94
186.41
34
126.12
6.41
0.00
8.14
52.94
193.60
35
133.33
6.41
0.00
8.53
52.94
201.21
2
0.55
1.10
1.47
0.11
1.13
4.35
3
0.58
1.10
1.33
0.11
1.13
4.24
4
0.61
1.10
1.19
0.11
1.13
4.13
5
0.64
1.10
1.05
0.11
1.13
4.03
6
0.68
1.10
0.91
0.11
1.13
3.92
7
0.72
1.10
0.77
0.11
1.13
3.82
8
0.76
1.10
0.63
0.11
1.13
3.72
9
0.80
1.10
0.49
0.10
1.13
3.63
10
0.85
1.10
0.35
0.10
1.13
3.53
11
0.90
1.10
0.21
0.11
1.36
3.67
12
0.95
1.10
0.07
0.11
1.36
3.58
13
1.00
0.16
0.00
0.09
1.36
2.61
14
1.06
0.16
0.00
0.09
1.36
2.67
15
1.12
0.16
0.00
0.09
1.36
2.74
16
1.19
0.16
0.00
0.10
1.36
2.81
17
1.26
0.16
0.00
0.10
1.36
2.88
18
1.33
0.16
0.00
0.11
1.36
2.95
19
1.40
0.16
0.00
0.11
1.36
3.03
20
1.48
0.16
0.00
0.11
1.36
3.12
21
1.57
0.16
0.00
0.12
1.36
3.21
22
1.66
0.16
0.00
0.12
1.36
3.30
23
1.75
0.16
0.00
0.13
1.36
3.40
24
1.85
0.16
0.00
0.13
1.36
3.51
25
1.96
0.16
0.00
0.14
1.36
3.62
26
2.07
0.16
0.00
0.15
1.36
3.74
27
2.19
0.16
0.00
0.15
1.36
3.86
28
2.31
0.16
0.00
0.16
1.36
3.99
29
2.45
0.16
0.00
0.17
1.36
4.13
30
2.59
0.16
0.00
0.17
1.36
4.28
31
2.74
0.16
0.00
0.18
1.36
4.44
32
2.89
0.16
0.00
0.19
1.36
4.60
33
3.06
0.16
0.00
0.20
1.36
4.78
34
3.23
0.16
0.00
0.21
1.36
4.96
35
3.42
0.16
0.00
0.22
1.36
5.16
0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088 0.079 0.072 0.065 0.059 0.053 0.048 0.043 0.039 0.035 0.032
Page 86

Depreciation amount
90%
5.28%
80%
20.00%
Capital Cost
735.2
Years -----------------> Unit
Book Depreciation
%
Book Depreciation
Rs Lakh
1
2
3
4
5
6
7
8
9
10
11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
2.64% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
19.41 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 38.82 21.17 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Opening
%
100.00% 50.00% 5.00% 1.00%
50% 45.00% 4.00% 0.80%
Closing
%
50% 5% 1.00% 0.20%
Accelrated Deprn.
Rs Lakh 367.61 330.85 29.41 5.88
0.20%
0.16%
0.04%
1.18
0.04%
0.03%
0.01%
0.24
0.01%
0.01%
0.00%
0.05
0.00%
0.00%
0.00%
0.01
0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00%
0.00 0.00 0.00 0.00 0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
-37.64
-12.79
3.90
-0.33
0.70
-38.58
-13.11
3.90
-0.34
0.63
-38.77
-13.18
3.90
-0.34
0.57
-38.81
-13.19
3.90
-0.34
0.52
-38.82 -38.82 -38.82 -38.82 -38.82 -38.82

-13.19 -13.19 -13.19 -13.19 -13.19 -13.19
3.90 3.90 3.90 3.90 3.90 3.90
-0.34 -0.34 -0.34 -0.34 -0.34 -0.34
0.47 0.42 0.38 0.34 0.31 0.28
-38.82
-13.19
3.90
-0.34
0.25
-38.82
-13.19
3.90
-0.34
0.23
-38.82
-13.19
3.90
-0.34
0.21
-21.17
-7.20
3.90
-0.18
0.19
0.00
0.00
3.90
0.00
0.17
0.00
0.00
3.90
0.00
0.15
0.00
0.00
3.90
0.00
0.14
0.00
0.00
3.90
0.00
0.13
0.00
0.00
3.90
0.00
0.11
0.00
0.00
3.90
0.00
0.10
0.00
0.00
3.90
0.00
0.09
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.08
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.06
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.05
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.04
0.00
0.00
3.90
0.00
0.03
Rs Lakh
Rs Lakh
MU
Rs/Unit
348.20
118.35
1.95
6.07
1.00
292.03
99.26
3.90
2.54
0.95
-9.41
-3.20
3.90
-0.08
0.86
-32.94
-11.20
3.90
-0.29
0.78

12.32
Levellised benefit
0.33 Rs/Unit
Page 87
Annexure-2C
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Other States
Less than 5
MW
1
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW

Auxiliary
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
30%
1%
0.00%
35
630.186
35
Debt
Equity
Total Debt Amount

Total Equity Amout
Rs Lacs
Rs Lacs
441.130
189.056
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
441.13
0
12
12.70%
Equity amount
RoE Period
Discount Rate
Rs Lacs
189.06
16%
20%
10
24.00%
22.86%
10.67%
Income Tax
80 IA benefits
%
%
Yes/No

%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
% p.a
Year
% p.a
33.990%
20.00%
Yes
Depreciation
Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Months
Months

Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.20%
22.35
5.72%
21.14
Page 88

2
3
4
5
6
7
8
9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
Installed Capacity MW
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Net Generation
MU
2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60
Fixed Cost
Unit Year---> 1
22.35
O&M Expenses
Rs Lakh
36.74
Depreciation
Rs Lakh
53.69
4.09
Rs Lakh
37.81
154.68
Unit Levellised 1
O&M expn
Rs/kWh 1.52 0.86
Depreciation
Rs/kWh 1.08 1.41
RoE
Rs/kWh 1.55 1.45
Total COG
Rs/kWh 5.25 5.95
Levellised
Discount Factor
1
Levellised Tariff
5.25 Rs/Unit
2
23.63
36.74
49.02
4.06
37.81
151.25
3
24.98
36.74
44.35
4.02
37.81
147.91
4
26.41
36.74
39.68
4.00
37.81
144.64
5
27.92
36.74
35.01
3.97
37.81
141.46
6
29.52
36.74
30.35
3.95
37.81
138.37
7
31.20
36.74
25.68
3.94
37.81
135.37
8
32.99
36.74
21.01
3.93
37.81
132.48
9
34.88
36.74
16.34
3.93
37.81
129.69
10
36.87
36.74
11.67
3.93
37.81
127.02
11
38.98
36.74
7.00
4.11
45.37
132.20
12
41.21
36.74
2.33
4.12
45.37
129.78
13
43.57
5.49
0.00
3.50
45.37
97.93
14
46.06
5.49
0.00
3.63
45.37
100.55
15
48.69
5.49
0.00
3.77
45.37
103.33
16
51.48
5.49
0.00
3.92
45.37
106.27
17
54.42
5.49
0.00
4.08
45.37
109.37
18
57.54
5.49
0.00
4.25
45.37
112.65
19
60.83
5.49
0.00
4.43
45.37
116.12
20
64.31
5.49
0.00
4.62
45.37
119.79
21
67.98
5.49
0.00
4.81
45.37
123.66
22
71.87
5.49
0.00
5.02
45.37
127.76
23
75.98
5.49
0.00
5.25
45.37
132.09
24
80.33
5.49
0.00
5.48
45.37
136.68
25
84.92
5.49
0.00
5.73
45.37
141.52
26
89.78
5.49
0.00
5.99
45.37
146.64
27
94.92
5.49
0.00
6.27
45.37
152.05
28
100.35
5.49
0.00
6.56
45.37
157.77
29
106.09
5.49
0.00
6.87
45.37
163.82
30
112.16
5.49
0.00
7.20
45.37
170.22
31
118.57
5.49
0.00
7.55
45.37
176.98
32
125.35
5.49
0.00
7.91
45.37
184.13
33
132.52
5.49
0.00
8.30
45.37
191.69
34
140.10
5.49
0.00
8.71
45.37
199.68
35
148.12
5.49
0.00
9.14
45.37
208.12
2
0.91
1.41
1.88
0.16
1.45
5.81
3
0.96
1.41
1.70
0.15
1.45
5.68
4
1.02
1.41
1.53
0.15
1.45
5.56
5
1.07
1.41
1.35
0.15
1.45
5.44
6
1.13
1.41
1.17
0.15
1.45
5.32
7
1.20
1.41
0.99
0.15
1.45
5.20
8
1.27
1.41
0.81
0.15
1.45
5.09
9
1.34
1.41
0.63
0.15
1.45
4.98
10
1.42
1.41
0.45
0.15
1.45
4.88
11
1.50
1.41
0.27
0.16
1.74
5.08
12
1.58
1.41
0.09
0.16
1.74
4.99
13
1.67
0.21
0.00
0.13
1.74
3.76
14
1.77
0.21
0.00
0.14
1.74
3.86
15
1.87
0.21
0.00
0.15
1.74
3.97
16
1.98
0.21
0.00
0.15
1.74
4.08
17
2.09
0.21
0.00
0.16
1.74
4.20
18
2.21
0.21
0.00
0.16
1.74
4.33
19
2.34
0.21
0.00
0.17
1.74
4.46
20
2.47
0.21
0.00
0.18
1.74
4.60
21
2.61
0.21
0.00
0.19
1.74
4.75
22
2.76
0.21
0.00
0.19
1.74
4.91
23
2.92
0.21
0.00
0.20
1.74
5.08
24
3.09
0.21
0.00
0.21
1.74
5.25
25
3.26
0.21
0.00
0.22
1.74
5.44
26
3.45
0.21
0.00
0.23
1.74
5.64
27
3.65
0.21
0.00
0.24
1.74
5.84
28
3.86
0.21
0.00
0.25
1.74
6.06
29
4.08
0.21
0.00
0.26
1.74
6.30
30
4.31
0.21
0.00
0.28
1.74
6.54
31
4.56
0.21
0.00
0.29
1.74
6.80
32
4.82
0.21
0.00
0.30
1.74
7.08
33
5.09
0.21
0.00
0.32
1.74
7.37
34
5.39
0.21
0.00
0.33
1.74
7.67
35
5.69
0.21
0.00
0.35
1.74
8.00
0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088 0.079 0.072 0.065 0.059 0.053 0.048 0.043 0.039 0.035 0.032
Page 89

Depreciation amount
90%
5.28%
80%
20.00%
Capital Cost
630.2
Years -----------------> Unit
Book Depreciation
%
Book Depreciation
Rs Lakh
1
2
3
4
5
6
7
8
9
10
11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35
2.64% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
16.64 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 33.27 18.15 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Opening
%
100.00% 50.00% 5.00% 1.00%
50% 45.00% 4.00% 0.80%
Closing
%
50% 5% 1.00% 0.20%
Accelrated Deprn.
Rs Lakh 315.09 283.58 25.21 5.04
0.20%
0.16%
0.04%
1.01
0.04%
0.03%
0.01%
0.20
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
0.01
0.00% 0.00% 0.00% 0.00% 0.00%

0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00%
0.00 0.00 0.00 0.00 0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
-32.27
-10.97
2.60
-0.42
0.70
-33.07
-11.24
2.60
-0.43
0.63
-33.23
-11.30
2.60
-0.43
0.57
-33.27
-11.31
2.60
-0.43
0.52
-33.27 -33.27 -33.27 -33.27 -33.27 -33.27

-11.31 -11.31 -11.31 -11.31 -11.31 -11.31
2.60 2.60 2.60 2.60 2.60 2.60
-0.43 -0.43 -0.43 -0.43 -0.43 -0.43
0.47 0.42 0.38 0.34 0.31 0.28
-33.27
-11.31
2.60
-0.43
0.25
-33.27
-11.31
2.60
-0.43
0.23
-33.27
-11.31
2.60
-0.43
0.21
-18.15
-6.17
2.60
-0.24
0.19
0.00
0.00
2.60
0.00
0.17
0.00
0.00
2.60
0.00
0.15
0.00
0.00
2.60
0.00
0.14
0.00
0.00
2.60
0.00
0.13
0.00
0.00
2.60
0.00
0.11
0.00
0.00
2.60
0.00
0.10
0.00
0.00
2.60
0.00
0.09
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.03
Rs Lakh
Rs Lakh
MU
Rs/Unit
298.46
101.45
1.30
7.80
1.00
250.31
85.08
2.60
3.27
0.95
-8.07
-2.74
2.60
-0.11
0.86
-28.23
-9.60
2.60
-0.37
0.78

10.56
Levellised benefit
0.43 Rs/Unit
Page 90
Annexure-2D
S. No.
Assumption Head
Sub-Head
Sub-Head (2)
Unit
Other States
5 MW to 25
MW
1
2
3
Power Generation
Project Cost
Sources of Fund
Capacity
Capital Cost/MW

Auxiliary
Factor
Useful Life
Power Plant Cost
Tariff Period
MW
%
%
Years
Rs Lacs/MW
Years
1
30%
1%
0.00%
35
577.671
13
Debt
Equity
Total Debt Amount

Total Equity Amout
Rs Lacs
Rs Lacs
404.370
173.301
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
404.37
0
12
12.70%
Equity amount
RoE Period
Discount Rate
Rs Lacs
173.30
16%
20%
10
24.00%
22.86%
10.67%
Income Tax
80 IA benefits
%
%
Yes/No

%
%
Debt: Equity
70%
30%
Debt Component
Equity Component
% p.a
Year
% p.a
33.990%
20.00%
Yes
Depreciation
Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Months
Months

Rs Lacs
%
5.83%
0.87%
12
1
15%
2
13.20%
15.65
5.72%
14.80
Page 91

Units Generation
Unit Year---> 1
Installed Capacity
MW
1
Net Generation
MU
2.60
2
1
2.60
3
1
2.60
4
1
2.60
5
1
2.60
6
1
2.60
Fixed Cost
Unit Year---> 1
2
3
4
5
6
15.65 16.54 17.49 18.49 19.55 20.66
O&M Expenses
Rs Lakh
33.68 33.68 33.68 33.68 33.68 33.68
Depreciation
Rs Lakh
49.22 44.94 40.66 36.38 32.10 27.82
3.49 3.44 3.40 3.35 3.31 3.28
Rs Lakh
34.66 34.66 34.66 34.66 34.66 34.66
Return on Equity
Rs Lakh
136.69 133.26 129.88 126.56 123.30 120.10
Unit Levellised 1
O&M expn
Rs/kWh 1.07 0.60
Depreciation
Rs/kWh 0.99 1.29
Int. on term loan
Rs/kWh 0.86 1.89
RoE
Rs/kWh 1.42 1.33
Total COG
Rs/kWh 4.47 5.25
Levellised
Discount Factor
1
Levellised Tariff
4.47 Rs/Unit
2
0.64
1.29
1.73
0.13
1.33
5.12
3
0.67
1.29
1.56
0.13
1.33
4.99
4
0.71
1.29
1.40
0.13
1.33
4.86
5
0.75
1.29
1.23
0.13
1.33
4.74
6
0.79
1.29
1.07
0.13
1.33
4.62
7
1
2.60
8
1
2.60
9
1
2.60
10
1
2.60
11
1
2.60
12
1
2.60
13
1
2.60
14
1
2.60
15
1
2.60
16
1
2.60
17
1
2.60
18
1
2.60
19
1
2.60
20
1
2.60
21
1
2.60
22
1
2.60
23
1
2.60
24
1
2.60
25
1
2.60
26
1
2.60
27
1
2.60
28
1
2.60
29
1
2.60
30
1
2.60
31
1
2.60
32
1
2.60
33
1
2.60
34
1
2.60
35
1
2.60
7
21.85
33.68
23.54
3.25
34.66
116.97
8
23.10
33.68
19.26
3.22
34.66
113.91
9
24.42
33.68
14.98
3.19
34.66
110.93
10
25.81
33.68
10.70
3.17
34.66
108.02
11
27.29
33.68
6.42
3.31
41.59
112.29
12
28.85
33.68
2.14
3.30
41.59
109.56
13
30.50
5.03
0.00
2.70
41.59
79.82
14
32.24
5.03
0.00
2.79
41.59
81.66
15
34.09
5.03
0.00
2.89
41.59
83.60
16
36.04
5.03
0.00
2.99
41.59
85.66
17
38.10
5.03
0.00
3.11
41.59
87.83
18
40.28
5.03
0.00
3.22
41.59
90.13
19
42.58
5.03
0.00
3.35
41.59
92.56
20
45.02
5.03
0.00
3.48
41.59
95.12
21
47.60
5.03
0.00
3.62
41.59
97.84
22
50.32
5.03
0.00
3.77
41.59
100.71
23
53.20
5.03
0.00
3.92
41.59
103.74
24
56.24
5.03
0.00
4.09
41.59
106.95
25
59.46
5.03
0.00
4.26
41.59
110.34
26
62.86
5.03
0.00
4.44
41.59
113.92
27
66.45
5.03
0.00
4.64
41.59
117.71
28
70.25
5.03
0.00
4.84
41.59
121.72
29
74.27
5.03
0.00
5.06
41.59
125.96
30
78.52
5.03
0.00
5.29
41.59
130.43
31
83.01
5.03
0.00
5.53
41.59
135.17
32
87.76
5.03
0.00
5.79
41.59
140.17
33
92.78
5.03
0.00
6.06
41.59
145.46
34
98.09
5.03
0.00
6.34
41.59
151.06
35
103.70
5.03
0.00
6.65
41.59
156.97
7
0.84
1.29
0.90
0.12
1.33
4.50
8
0.89
1.29
0.74
0.12
1.33
4.38
9
0.94
1.29
0.58
0.12
1.33
4.26
10
0.99
1.29
0.41
0.12
1.33
4.15
11
1.05
1.29
0.25
0.13
1.60
4.32
12
1.11
1.29
0.08
0.13
1.60
4.21
13
1.17
0.19
0.00
0.10
1.60
3.07
14
1.24
0.19
0.00
0.11
1.60
3.14
15
1.31
0.19
0.00
0.11
1.60
3.21
16
1.39
0.19
0.00
0.12
1.60
3.29
17
1.46
0.19
0.00
0.12
1.60
3.38
18
1.55
0.19
0.00
0.12
1.60
3.46
19
1.64
0.19
0.00
0.13
1.60
3.56
20
1.73
0.19
0.00
0.13
1.60
3.66
21
1.83
0.19
0.00
0.14
1.60
3.76
22
1.93
0.19
0.00
0.14
1.60
3.87
23
2.04
0.19
0.00
0.15
1.60
3.99
24
2.16
0.19
0.00
0.16
1.60
4.11
25
2.29
0.19
0.00
0.16
1.60
4.24
26
2.42
0.19
0.00
0.17
1.60
4.38
27
2.55
0.19
0.00
0.18
1.60
4.52
28
2.70
0.19
0.00
0.19
1.60
4.68
29
2.85
0.19
0.00
0.19
1.60
4.84
30
3.02
0.19
0.00
0.20
1.60
5.01
31
3.19
0.19
0.00
0.21
1.60
5.20
32
3.37
0.19
0.00
0.22
1.60
5.39
33
3.57
0.19
0.00
0.23
1.60
5.59
34
3.77
0.19
0.00
0.24
1.60
5.81
35
3.99
0.19
0.00
0.26
1.60
6.03
0.904 0.816 0.738 0.667 0.602 0.544 0.492 0.444 0.402 0.363 0.328 0.296 0.268 0.242 0.219 0.198 0.178 0.161 0.146 0.132 0.119 0.108 0.097 0.088 0.079 0.072 0.065 0.059 0.053 0.048 0.043 0.039 0.035 0.032
Page 92

Depreciation amount
90%
5.28%
80%
20.00%
Capital Cost
577.7
Years
-----------------> Unit
Book Depreciation
%
Book Depreciation
Rs Lakh
1
2
3
4
5
6
7
8
9
2.64% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28%
15.25 30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
30.50 30.50 30.50 30.50 30.50 30.50 30.50 30.50 16.64 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Opening
%
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00%
Closing
%
50% 5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00%
Accelrated Deprn.
Rs Lakh 288.84 259.95 23.11 4.62 0.92 0.18 0.04 0.01 0.00
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
-30.50 -30.50 -30.50 -30.50 -30.50 -30.50 -30.50 -30.50 -16.64

-10.37 -10.37 -10.37 -10.37 -10.37 -10.37 -10.37 -10.37 -5.65
2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60
-0.40 -0.40 -0.40 -0.40 -0.40 -0.40 -0.40 -0.40 -0.22
0.42 0.38 0.34 0.31 0.28 0.25 0.23 0.21 0.19
Rs Lakh
Rs Lakh
MU
Rs/Unit
273.58 229.45 -7.39 -25.88 -29.58 -30.32 -30.46 -30.49 -30.50

92.99 77.99 -2.51 -8.80 -10.05 -10.30 -10.35 -10.36 -10.37
1.30 2.60 2.60 2.60 2.60 2.60 2.60 2.60 2.60
7.15 3.00 -0.10 -0.34 -0.39 -0.40 -0.40 -0.40 -0.40
1.00 0.95 0.86 0.78 0.70 0.63 0.57 0.52 0.47
0.00
0.00
2.60
0.00
0.17
0.00
0.00
2.60
0.00
0.15
0.00
0.00
2.60
0.00
0.14
0.00
0.00
2.60
0.00
0.13
0.00
0.00
2.60
0.00
0.11
0.00
0.00
2.60
0.00
0.10
0.00
0.00
2.60
0.00
0.09
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.08
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.06
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.05
0.00
0.00
2.60
0.00
0.04

9.68
Levellised benefit
0.39 Rs/Unit
Page 93
0.00
0.00
2.60
0.00
0.04
0.00
0.00
2.60
0.00
0.03
Annexure-3A
Select State
AP
Assumption for Biomass Power Project Parameters

S. No. Assumption Head
1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
MW
Auxillary Consumption during stablisation
%
Auxillary Consumption after stabilisation
%
PLF(Stablization for 6 months)
%
PLF(during first year after Stablization)
%
PLF(second year onwards)
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
% p.a
RoE Period
Year
Return on Equity after 10 years %
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Discount Rate (equiv. to WACC) %
Economic Assumptions
Fiscal Assumptions
Income
Tax
MAT
(for first 10 years)
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation Rate(power plant) %
%
Years for 5.83% depreciation rate
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare (% of O&M exepenses)
Biomass Stock
Fuel Related Assumptions
Heat Rate
After Stabilisation period
During Stablization Period
Months
Months
1
15%
2
Months
%
4
13.20%
Kcal/kwh
Kcal/kwh
4200
4200
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Biomass Price Escalation Factor
O & M Expenses Escalation
Rs Lacs
%
Rs Lacs
2751.20
3100
5.00%
42.29
5.72%
40.00
Page 94
Determination of Tariff Component: Biomass Power Projects

Units Generation
Installed Capacity
Gross Generation
Auxiliary Consumption
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
212.24
4.19
2
274.28
4.35
3
287.99
4.57
4
302.39
4.79
5
317.51
5.03
6
333.39
5.29
7
350.06
5.55
8
367.56
5.83
9
385.94
6.12
10
405.24
6.42
11
425.50
6.75
12
446.77
7.08
13
469.11
7.44
14
492.57
7.81
15
517.19
8.20
16
543.05
8.61
17
570.21
9.04
18
598.72
9.49
19
628.65
9.97
20
660.09
10.47
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
19.10
32.65
172.12
3.40
2
44.71
31.73
42.33
23.32
32.65
174.74
2.77
3
47.26
31.73
38.30
24.30
32.65
174.24
2.76
4
49.97
31.73
34.27
25.32
32.65
173.94
2.76
5
52.83
31.73
30.24
26.41
32.65
173.85
2.76
6
55.85
31.73
26.20
27.55
32.65
173.98
2.76
7
59.04
31.73
22.17
28.76
32.65
174.35
2.76
8
62.42
31.73
18.14
30.03
32.65
174.97
2.77
9
65.99
31.73
14.11
31.37
32.65
175.85
2.79
10
69.76
31.73
10.08
32.79
32.65
177.01
2.81
11
73.75
31.73
6.05
34.43
39.18
185.14
2.94
12
77.97
31.73
2.02
36.00
39.18
186.90
2.96
13
82.43
13.63
0.00
37.30
39.18
172.54
2.74
14
87.15
13.63
0.00
39.13
39.18
179.10
2.84
15
92.13
13.63
0.00
41.06
39.18
186.01
2.95
16
97.40
13.63
0.00
43.09
39.18
193.31
3.06
17
102.97
13.63
0.00
45.23
39.18
201.02
3.19
18
108.87
13.63
0.00
47.47
39.18
209.15
3.32
19
115.09
13.63
0.00
49.83
39.18
217.73
3.45
20
121.68
13.63
0.00
52.30
39.18
226.79
3.60
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.85
1.02
0.46
0.39
0.48
0.56
8.76
1
4.19
0.83
0.63
0.91
0.38
0.64
7.58
2
4.35
0.71
0.50
0.67
0.37
0.52
7.12
3
4.57
0.75
0.50
0.61
0.39
0.52
7.33
4
4.79
0.79
0.50
0.54
0.40
0.52
7.55
5
5.03
0.84
0.50
0.48
0.42
0.52
7.79
6
5.29
0.89
0.50
0.42
0.44
0.52
8.04
7
5.55
0.94
0.50
0.35
0.46
0.52
8.31
8
5.83
0.99
0.50
0.29
0.48
0.52
8.60
9
6.12
1.05
0.50
0.22
0.50
0.52
8.91
10
6.42
1.11
0.50
0.16
0.52
0.52
9.23
11
6.75
1.17
0.50
0.10
0.55
0.62
9.68
12
7.08
1.24
0.50
0.03
0.57
0.62
10.05
13
7.44
1.31
0.22
0.00
0.59
0.62
10.17
14
7.81
1.38
0.22
0.00
0.62
0.62
10.65
15
8.20
1.46
0.22
0.00
0.65
0.62
11.15
16
8.61
1.54
0.22
0.00
0.68
0.62
11.68
17
9.04
1.63
0.22
0.00
0.72
0.62
12.23
18
9.49
1.73
0.22
0.00
0.75
0.62
12.81
19
9.97
1.82
0.22
0.00
0.79
0.62
13.42
20
10.47
1.93
0.22
0.00
0.83
0.62
14.06
Levellised Tariff
Discount Factor
Variable Cost (FY2014-15)
Levellised Tariff (Fixed)
Applicable Tariff (FY2014-15)
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
4.19 Rs/Kwh
2.91 Rs/Kwh
7.10 Rs/Kwh
Page 95
19
0.161
20
0.146
Determination of Accelerated Depreciation for Biomass Power Project

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 96
Annexure-3B
Select State
Harayana

1
Sub-Head
Sub-Head (2)
Unit
Assumption
s
Power Generation
Capacity
MW
%
%
PLF(Stablization for 6 months) %
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
Return on Equity for first 10 years% p.a
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
MAT
%
80 IA Rate
benefits
Yes/No
Depreciation
%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
6 Fuel Related Assumptions
Heat Rate
Kcal/kwh
Kcal/kwh
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
3131.50
3100
5.00%
Rs Lacs
%
Rs Lacs
42.29
5.72%
40.00
Page 97

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
241.58
4.77
2
312.19
4.95
3
327.80
5.20
4
344.19
5.46
5
361.40
5.73
6
379.47
6.02
7
398.45
6.32
8
418.37
6.63
9
439.29
6.96
10
461.25
7.31
11
484.31
7.68
12
508.53
8.06
13
533.96
8.47
14
560.65
8.89
15
588.69
9.33
16
618.12
9.80
17
649.03
10.29
18
681.48
10.80
19
715.55
11.35
20
751.33
11.91
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
21.08
32.65
174.10
3.44
2
44.71
31.73
42.33
25.88
32.65
177.30
2.81
3
47.26
31.73
38.30
26.98
32.65
176.92
2.81
4
49.97
31.73
34.27
28.14
32.65
176.76
2.80
5
52.83
31.73
30.24
29.37
32.65
176.81
2.80
6
55.85
31.73
26.20
30.66
32.65
177.09
2.81
7
59.04
31.73
22.17
32.02
32.65
177.62
2.82
8
62.42
31.73
18.14
33.46
32.65
178.40
2.83
9
65.99
31.73
14.11
34.97
32.65
179.45
2.85
10
69.76
31.73
10.08
36.57
32.65
180.79
2.87
11
73.75
31.73
6.05
38.40
39.18
189.11
3.00
12
77.97
31.73
2.02
40.17
39.18
191.06
3.03
13
82.43
13.63
0.00
41.67
39.18
176.92
2.81
14
87.15
13.63
0.00
43.73
39.18
183.69
2.91
15
92.13
13.63
0.00
45.89
39.18
190.84
3.03
16
97.40
13.63
0.00
48.16
39.18
198.38
3.15
17
102.97
13.63
0.00
50.55
39.18
206.34
3.27
18
108.87
13.63
0.00
53.05
39.18
214.73
3.40
19
115.09
13.63
0.00
55.69
39.18
223.60
3.55
20
121.68
13.63
0.00
58.46
39.18
232.95
3.69
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.65
1.02
0.46
0.39
0.54
0.56
9.62
1
4.77
0.83
0.63
0.91
0.42
0.64
8.20
2
4.95
0.71
0.50
0.67
0.41
0.52
7.76
3
5.20
0.75
0.50
0.61
0.43
0.52
8.00
4
5.46
0.79
0.50
0.54
0.45
0.52
8.26
5
5.73
0.84
0.50
0.48
0.47
0.52
8.53
6
6.02
0.89
0.50
0.42
0.49
0.52
8.82
7
6.32
0.94
0.50
0.35
0.51
0.52
9.13
8
6.63
0.99
0.50
0.29
0.53
0.52
9.46
9
6.96
1.05
0.50
0.22
0.55
0.52
9.81
10
7.31
1.11
0.50
0.16
0.58
0.52
10.18
11
7.68
1.17
0.50
0.10
0.61
0.62
10.68
12
8.06
1.24
0.50
0.03
0.64
0.62
11.09
13
8.47
1.31
0.22
0.00
0.66
0.62
11.27
14
8.89
1.38
0.22
0.00
0.69
0.62
11.80
15
9.33
1.46
0.22
0.00
0.73
0.62
12.36
16
9.80
1.54
0.22
0.00
0.76
0.62
12.95
17
10.29
1.63
0.22
0.00
0.80
0.62
13.56
18
10.80
1.73
0.22
0.00
0.84
0.62
14.21
19
11.35
1.82
0.22
0.00
0.88
0.62
14.89
20
11.91
1.93
0.22
0.00
0.93
0.62
15.61
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.77 Rs/Kwh
2.97 Rs/Kwh
7.73 Rs/Kwh
Page 98
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 99
Annexure-3C
Select State
Maharashtra

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
%
MAT
80
IA Rate
benefits
Yes/No
Depreciation
%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
3202.80
3100
5.00%
Rs Lacs
%
Rs Lacs
Page 100
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
247.08
4.88
2
319.30
5.06
3
335.27
5.32
4
352.03
5.58
5
369.63
5.86
6
388.11
6.15
7
407.52
6.46
8
427.89
6.78
9
449.29
7.12
10
471.75
7.48
11
495.34
7.85
12
520.11
8.25
13
546.11
8.66
14
573.42
9.09
15
602.09
9.55
16
632.19
10.02
17
663.80
10.52
18
696.99
11.05
19
731.84
11.60
20
768.44
12.18
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
21.45
32.65
174.48
3.44
2
44.71
31.73
42.33
26.36
32.65
177.78
2.82
3
47.26
31.73
38.30
27.49
32.65
177.43
2.81
4
49.97
31.73
34.27
28.67
32.65
177.29
2.81
5
52.83
31.73
30.24
29.92
32.65
177.36
2.81
6
55.85
31.73
26.20
31.24
32.65
177.67
2.82
7
59.04
31.73
22.17
32.64
32.65
178.23
2.83
8
62.42
31.73
18.14
34.10
32.65
179.04
2.84
9
65.99
31.73
14.11
35.65
32.65
180.13
2.86
10
69.76
31.73
10.08
37.28
32.65
181.50
2.88
11
73.75
31.73
6.05
39.14
39.18
189.85
3.01
12
77.97
31.73
2.02
40.95
39.18
191.85
3.04
13
82.43
13.63
0.00
42.49
39.18
177.74
2.82
14
87.15
13.63
0.00
44.59
39.18
184.55
2.93
15
92.13
13.63
0.00
46.79
39.18
191.74
3.04
16
97.40
13.63
0.00
49.11
39.18
199.33
3.16
17
102.97
13.63
0.00
51.54
39.18
207.33
3.29
18
108.87
13.63
0.00
54.10
39.18
215.78
3.42
19
115.09
13.63
0.00
56.79
39.18
224.70
3.56
20
121.68
13.63
0.00
59.61
39.18
234.10
3.71
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.81
1.02
0.46
0.39
0.55
0.56
9.78
1
4.88
0.83
0.63
0.91
0.42
0.64
8.32
2
5.06
0.71
0.50
0.67
0.42
0.52
7.88
3
5.32
0.75
0.50
0.61
0.44
0.52
8.13
4
5.58
0.79
0.50
0.54
0.45
0.52
8.39
5
5.86
0.84
0.50
0.48
0.47
0.52
8.67
6
6.15
0.89
0.50
0.42
0.50
0.52
8.97
7
6.46
0.94
0.50
0.35
0.52
0.52
9.29
8
6.78
0.99
0.50
0.29
0.54
0.52
9.62
9
7.12
1.05
0.50
0.22
0.57
0.52
9.98
10
7.48
1.11
0.50
0.16
0.59
0.52
10.36
11
7.85
1.17
0.50
0.10
0.62
0.62
10.86
12
8.25
1.24
0.50
0.03
0.65
0.62
11.29
13
8.66
1.31
0.22
0.00
0.67
0.62
11.48
14
9.09
1.38
0.22
0.00
0.71
0.62
12.02
15
9.55
1.46
0.22
0.00
0.74
0.62
12.59
16
10.02
1.54
0.22
0.00
0.78
0.62
13.18
17
10.52
1.63
0.22
0.00
0.82
0.62
13.81
18
11.05
1.73
0.22
0.00
0.86
0.62
14.47
19
11.60
1.82
0.22
0.00
0.90
0.62
15.17
20
12.18
1.93
0.22
0.00
0.95
0.62
15.90
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.88 Rs/Kwh
2.98 Rs/Kwh
7.85 Rs/Kwh
Page 101
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 102
Annexure-3D
Select State
Punjab

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
MAT
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Rs Lacs
%
Rs Lacs
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
3275.29
3100
5.00%
Page 103
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
252.67
4.99
2
326.53
5.18
3
342.85
5.44
4
360.00
5.71
5
378.00
5.99
6
396.90
6.29
7
416.74
6.61
8
437.58
6.94
9
459.46
7.28
10
482.43
7.65
11
506.55
8.03
12
531.88
8.43
13
558.47
8.85
14
586.40
9.30
15
615.72
9.76
16
646.50
10.25
17
678.83
10.76
18
712.77
11.30
19
748.41
11.87
20
785.83
12.46
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
21.83
32.65
174.85
3.45
2
44.71
31.73
42.33
26.85
32.65
178.26
2.83
3
47.26
31.73
38.30
28.00
32.65
177.94
2.82
4
49.97
31.73
34.27
29.21
32.65
177.82
2.82
5
52.83
31.73
30.24
30.49
32.65
177.93
2.82
6
55.85
31.73
26.20
31.84
32.65
178.27
2.83
7
59.04
31.73
22.17
33.26
32.65
178.85
2.84
8
62.42
31.73
18.14
34.76
32.65
179.69
2.85
9
65.99
31.73
14.11
36.33
32.65
180.81
2.87
10
69.76
31.73
10.08
38.00
32.65
182.22
2.89
11
73.75
31.73
6.05
39.90
39.18
190.61
3.02
12
77.97
31.73
2.02
41.74
39.18
192.64
3.05
13
82.43
13.63
0.00
43.33
39.18
178.57
2.83
14
87.15
13.63
0.00
45.47
39.18
185.43
2.94
15
92.13
13.63
0.00
47.71
39.18
192.66
3.05
16
97.40
13.63
0.00
50.08
39.18
200.29
3.18
17
102.97
13.63
0.00
52.56
39.18
208.35
3.30
18
108.87
13.63
0.00
55.17
39.18
216.84
3.44
19
115.09
13.63
0.00
57.91
39.18
225.81
3.58
20
121.68
13.63
0.00
60.79
39.18
235.28
3.73
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.96
1.02
0.46
0.39
0.56
0.56
9.95
1
4.99
0.83
0.63
0.91
0.43
0.64
8.44
2
5.18
0.71
0.50
0.67
0.43
0.52
8.00
3
5.44
0.75
0.50
0.61
0.44
0.52
8.26
4
5.71
0.79
0.50
0.54
0.46
0.52
8.53
5
5.99
0.84
0.50
0.48
0.48
0.52
8.81
6
6.29
0.89
0.50
0.42
0.50
0.52
9.12
7
6.61
0.94
0.50
0.35
0.53
0.52
9.44
8
6.94
0.99
0.50
0.29
0.55
0.52
9.79
9
7.28
1.05
0.50
0.22
0.58
0.52
10.15
10
7.65
1.11
0.50
0.16
0.60
0.52
10.54
11
8.03
1.17
0.50
0.10
0.63
0.62
11.05
12
8.43
1.24
0.50
0.03
0.66
0.62
11.49
13
8.85
1.31
0.22
0.00
0.69
0.62
11.69
14
9.30
1.38
0.22
0.00
0.72
0.62
12.24
15
9.76
1.46
0.22
0.00
0.76
0.62
12.82
16
10.25
1.54
0.22
0.00
0.79
0.62
13.43
17
10.76
1.63
0.22
0.00
0.83
0.62
14.07
18
11.30
1.73
0.22
0.00
0.87
0.62
14.74
19
11.87
1.82
0.22
0.00
0.92
0.62
15.45
20
12.46
1.93
0.22
0.00
0.96
0.62
16.19
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.99 Rs/Kwh
2.99 Rs/Kwh
7.97 Rs/Kwh
Page 104
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 105
Annexure-3E
Select State
Rajasthan

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
MAT
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Rs Lacs
%
Rs Lacs
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
2733.37
3100
5.00%
Page 106
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
210.86
4.16
2
272.50
4.32
3
286.13
4.54
4
300.43
4.76
5
315.45
5.00
6
331.23
5.25
7
347.79
5.51
8
365.18
5.79
9
383.44
6.08
10
402.61
6.38
11
422.74
6.70
12
443.88
7.04
13
466.07
7.39
14
489.37
7.76
15
513.84
8.15
16
539.53
8.55
17
566.51
8.98
18
594.84
9.43
19
624.58
9.90
20
655.81
10.40
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
19.00
32.65
172.03
3.39
2
44.71
31.73
42.33
23.20
32.65
174.62
2.77
3
47.26
31.73
38.30
24.17
32.65
174.11
2.76
4
49.97
31.73
34.27
25.19
32.65
173.80
2.76
5
52.83
31.73
30.24
26.27
32.65
173.71
2.75
6
55.85
31.73
26.20
27.41
32.65
173.84
2.76
7
59.04
31.73
22.17
28.60
32.65
174.20
2.76
8
62.42
31.73
18.14
29.87
32.65
174.81
2.77
9
65.99
31.73
14.11
31.20
32.65
175.68
2.79
10
69.76
31.73
10.08
32.61
32.65
176.83
2.80
11
73.75
31.73
6.05
34.24
39.18
184.95
2.93
12
77.97
31.73
2.02
35.80
39.18
186.70
2.96
13
82.43
13.63
0.00
37.09
39.18
172.34
2.73
14
87.15
13.63
0.00
38.92
39.18
178.88
2.84
15
92.13
13.63
0.00
40.84
39.18
185.79
2.95
16
97.40
13.63
0.00
42.86
39.18
193.07
3.06
17
102.97
13.63
0.00
44.98
39.18
200.77
3.18
18
108.87
13.63
0.00
47.21
39.18
208.89
3.31
19
115.09
13.63
0.00
49.55
39.18
217.46
3.45
20
121.68
13.63
0.00
52.01
39.18
226.50
3.59
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.81
1.02
0.46
0.39
0.48
0.56
8.72
1
4.16
0.83
0.63
0.91
0.38
0.64
7.56
2
4.32
0.71
0.50
0.67
0.37
0.52
7.09
3
4.54
0.75
0.50
0.61
0.38
0.52
7.30
4
4.76
0.79
0.50
0.54
0.40
0.52
7.52
5
5.00
0.84
0.50
0.48
0.42
0.52
7.76
6
5.25
0.89
0.50
0.42
0.43
0.52
8.01
7
5.51
0.94
0.50
0.35
0.45
0.52
8.28
8
5.79
0.99
0.50
0.29
0.47
0.52
8.56
9
6.08
1.05
0.50
0.22
0.49
0.52
8.86
10
6.38
1.11
0.50
0.16
0.52
0.52
9.19
11
6.70
1.17
0.50
0.10
0.54
0.62
9.63
12
7.04
1.24
0.50
0.03
0.57
0.62
10.00
13
7.39
1.31
0.22
0.00
0.59
0.62
10.12
14
7.76
1.38
0.22
0.00
0.62
0.62
10.60
15
8.15
1.46
0.22
0.00
0.65
0.62
11.09
16
8.55
1.54
0.22
0.00
0.68
0.62
11.62
17
8.98
1.63
0.22
0.00
0.71
0.62
12.17
18
9.43
1.73
0.22
0.00
0.75
0.62
12.74
19
9.90
1.82
0.22
0.00
0.79
0.62
13.35
20
10.40
1.93
0.22
0.00
0.82
0.62
13.99
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.16 Rs/Kwh
2.91 Rs/Kwh
7.07 Rs/Kwh
Page 107
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 108
Annexure-3F
Select State
TN

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
MAT
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Rs Lacs
%
Rs Lacs
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
2706.03
3100
5.00%
Page 109
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
208.76
4.12
2
269.78
4.28
3
283.26
4.49
4
297.43
4.72
5
312.30
4.95
6
327.91
5.20
7
344.31
5.46
8
361.53
5.73
9
379.60
6.02
10
398.58
6.32
11
418.51
6.64
12
439.44
6.97
13
461.41
7.32
14
484.48
7.68
15
508.70
8.07
16
534.14
8.47
17
560.85
8.89
18
588.89
9.34
19
618.33
9.80
20
649.25
10.29
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
18.86
32.65
171.89
3.39
2
44.71
31.73
42.33
23.02
32.65
174.43
2.77
3
47.26
31.73
38.30
23.98
32.65
173.92
2.76
4
49.97
31.73
34.27
24.99
32.65
173.60
2.75
5
52.83
31.73
30.24
26.06
32.65
173.50
2.75
6
55.85
31.73
26.20
27.18
32.65
173.61
2.75
7
59.04
31.73
22.17
28.37
32.65
173.96
2.76
8
62.42
31.73
18.14
29.62
32.65
174.56
2.77
9
65.99
31.73
14.11
30.95
32.65
175.42
2.78
10
69.76
31.73
10.08
32.34
32.65
176.56
2.80
11
73.75
31.73
6.05
33.96
39.18
184.67
2.93
12
77.97
31.73
2.02
35.51
39.18
186.40
2.96
13
82.43
13.63
0.00
36.78
39.18
172.02
2.73
14
87.15
13.63
0.00
38.59
39.18
178.55
2.83
15
92.13
13.63
0.00
40.49
39.18
185.44
2.94
16
97.40
13.63
0.00
42.49
39.18
192.71
3.06
17
102.97
13.63
0.00
44.60
39.18
200.38
3.18
18
108.87
13.63
0.00
46.81
39.18
208.48
3.31
19
115.09
13.63
0.00
49.13
39.18
217.04
3.44
20
121.68
13.63
0.00
51.57
39.18
226.06
3.58
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.75
1.02
0.46
0.39
0.47
0.56
8.65
1
4.12
0.83
0.63
0.91
0.37
0.64
7.51
2
4.28
0.71
0.50
0.67
0.36
0.52
7.04
3
4.49
0.75
0.50
0.61
0.38
0.52
7.25
4
4.72
0.79
0.50
0.54
0.40
0.52
7.47
5
4.95
0.84
0.50
0.48
0.41
0.52
7.70
6
5.20
0.89
0.50
0.42
0.43
0.52
7.95
7
5.46
0.94
0.50
0.35
0.45
0.52
8.22
8
5.73
0.99
0.50
0.29
0.47
0.52
8.50
9
6.02
1.05
0.50
0.22
0.49
0.52
8.80
10
6.32
1.11
0.50
0.16
0.51
0.52
9.12
11
6.64
1.17
0.50
0.10
0.54
0.62
9.56
12
6.97
1.24
0.50
0.03
0.56
0.62
9.92
13
7.32
1.31
0.22
0.00
0.58
0.62
10.04
14
7.68
1.38
0.22
0.00
0.61
0.62
10.51
15
8.07
1.46
0.22
0.00
0.64
0.62
11.01
16
8.47
1.54
0.22
0.00
0.67
0.62
11.52
17
8.89
1.63
0.22
0.00
0.71
0.62
12.07
18
9.34
1.73
0.22
0.00
0.74
0.62
12.64
19
9.80
1.82
0.22
0.00
0.78
0.62
13.24
20
10.29
1.93
0.22
0.00
0.82
0.62
13.88
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.12 Rs/Kwh
2.90 Rs/Kwh
7.02 Rs/Kwh
Page 110
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50%
50%
272.09
50.00%
45.00%
5%
244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Discounting Factor
Levellised benefit
0.17
(Rs/kWh)
Page 111
Annexure-3G
Select State
UP

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
%
MAT
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation
Rate
13th year onwards
Years
for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Rs Lacs
%
Rs Lacs
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
2798.73
3100
5.00%
Page 112
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
215.91
4.26
2
279.02
4.42
3
292.97
4.64
4
307.62
4.88
5
323.00
5.12
6
339.15
5.38
7
356.11
5.65
8
373.91
5.93
9
392.61
6.22
10
412.24
6.54
11
432.85
6.86
12
454.49
7.21
13
477.22
7.57
14
501.08
7.94
15
526.13
8.34
16
552.44
8.76
17
580.06
9.20
18
609.06
9.66
19
639.51
10.14
20
671.49
10.65
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
19.34
32.65
172.37
3.40
2
44.71
31.73
42.33
23.64
32.65
175.06
2.78
3
47.26
31.73
38.30
24.63
32.65
174.57
2.77
4
49.97
31.73
34.27
25.68
32.65
174.29
2.76
5
52.83
31.73
30.24
26.78
32.65
174.22
2.76
6
55.85
31.73
26.20
27.94
32.65
174.37
2.76
7
59.04
31.73
22.17
29.17
32.65
174.76
2.77
8
62.42
31.73
18.14
30.46
32.65
175.40
2.78
9
65.99
31.73
14.11
31.82
32.65
176.30
2.80
10
69.76
31.73
10.08
33.26
32.65
177.48
2.81
11
73.75
31.73
6.05
34.92
39.18
185.63
2.94
12
77.97
31.73
2.02
36.52
39.18
187.42
2.97
13
82.43
13.63
0.00
37.84
39.18
173.09
2.74
14
87.15
13.63
0.00
39.71
39.18
179.67
2.85
15
92.13
13.63
0.00
41.67
39.18
186.61
2.96
16
97.40
13.63
0.00
43.73
39.18
193.94
3.07
17
102.97
13.63
0.00
45.89
39.18
201.68
3.20
18
108.87
13.63
0.00
48.17
39.18
209.85
3.33
19
115.09
13.63
0.00
50.56
39.18
218.46
3.46
20
121.68
13.63
0.00
53.07
39.18
227.56
3.61
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
5.95
1.02
0.46
0.39
0.49
0.56
8.86
1
4.26
0.83
0.63
0.91
0.38
0.64
7.66
2
4.42
0.71
0.50
0.67
0.37
0.52
7.20
3
4.64
0.75
0.50
0.61
0.39
0.52
7.41
4
4.88
0.79
0.50
0.54
0.41
0.52
7.64
5
5.12
0.84
0.50
0.48
0.42
0.52
7.88
6
5.38
0.89
0.50
0.42
0.44
0.52
8.14
7
5.65
0.94
0.50
0.35
0.46
0.52
8.42
8
5.93
0.99
0.50
0.29
0.48
0.52
8.71
9
6.22
1.05
0.50
0.22
0.50
0.52
9.02
10
6.54
1.11
0.50
0.16
0.53
0.52
9.35
11
6.86
1.17
0.50
0.10
0.55
0.62
9.81
12
7.21
1.24
0.50
0.03
0.58
0.62
10.18
13
7.57
1.31
0.22
0.00
0.60
0.62
10.31
14
7.94
1.38
0.22
0.00
0.63
0.62
10.79
15
8.34
1.46
0.22
0.00
0.66
0.62
11.30
16
8.76
1.54
0.22
0.00
0.69
0.62
11.83
17
9.20
1.63
0.22
0.00
0.73
0.62
12.39
18
9.66
1.73
0.22
0.00
0.76
0.62
12.98
19
10.14
1.82
0.22
0.00
0.80
0.62
13.60
20
10.65
1.93
0.22
0.00
0.84
0.62
14.25
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.26 Rs/Kwh
2.92 Rs/Kwh
7.18 Rs/Kwh
Page 113
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 114
Annexure-3H
Select State
Others

1
Sub-Head
Sub-Head (2)
Assumption
s
Unit
Power Generation
Capacity
MW
%
%
%
%
Useful Life
Years
1
11%
10%
60%
70%
80%
20
2 Project Cost
Capital Cost/MW
Debt: Equity
Power Plant Cost
Rs Lacs/MW
544.187
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
380.931
163.256
Loan Amount
Rs Lacs
Moratorium Period
years
years
Interest Rate
%
380.931
0
12
12.70%
Equity amount
Rs Lacs
RoE Period
Year
163.256
20.00%
10.00
24.00%
Debt Component
Equity Component

%
Fiscal Assumptions
Income
Tax
MAT
%
80
IA Rate
benefits
Yes/No
Depreciation
Depreciation
Rate
13th year onwards
Years for 5.83%
depreciation
rate%
5 Working Capital
For Fixed Charges
O&M Charges
Months
Months
Biomass Stock
Months
%
Heat Rate
Kcal/kwh
Kcal/kwh
Biomass
Base Price
Rs/T
GCV - Biomass
Kcal/kg
Rs Lacs
%
Rs Lacs
22.00%
10.67%
33.990%
20.000%
Yes
5.830%
2.505%
12.00
1
15%
2
4
13.20%
4200
4200
2942.54
3100
5.00%
Page 115
42.29
5.72%
40.00

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
1
1
5.69
0.63
5.07
2
1
7.01
0.70
6.31
3
1
7.01
0.70
6.31
4
1
7.01
0.70
6.31
5
1
7.01
0.70
6.31
6
1
7.01
0.70
6.31
7
1
7.01
0.70
6.31
8
1
7.01
0.70
6.31
9
1
7.01
0.70
6.31
10
1
7.01
0.70
6.31
11
1
7.01
0.70
6.31
12
1
7.01
0.70
6.31
13
1
7.01
0.70
6.31
14
1
7.01
0.70
6.31
15
1
7.01
0.70
6.31
16
1
7.01
0.70
6.31
17
1
7.01
0.70
6.31
18
1
7.01
0.70
6.31
19
1
7.01
0.70
6.31
20
1
7.01
0.70
6.31
Vaiable Cost
Biomass Cost
Per unit Var Cost
Unit
Rs Lakh
Rs/kWh
Year--->
1
227.00
4.48
2
293.35
4.65
3
308.02
4.88
4
323.42
5.13
5
339.59
5.38
6
356.57
5.65
7
374.40
5.94
8
393.12
6.23
9
412.78
6.54
10
433.42
6.87
11
455.09
7.22
12
477.84
7.58
13
501.74
7.95
14
526.82
8.35
15
553.16
8.77
16
580.82
9.21
17
609.86
9.67
18
640.36
10.15
19
672.37
10.66
20
705.99
11.19
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Per unit Fixed Cost
Variable COG
O&M expn
Depreciation
Int. on term loan
RoE
Total COG
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs/kWh
Year--->
1
42.29
31.73
46.36
20.09
32.65
173.12
3.42
2
44.71
31.73
42.33
24.61
32.65
176.03
2.79
3
47.26
31.73
38.30
25.65
32.65
175.59
2.78
4
49.97
31.73
34.27
26.74
32.65
175.36
2.78
5
52.83
31.73
30.24
27.90
32.65
175.34
2.78
6
55.85
31.73
26.20
29.12
32.65
175.55
2.78
7
59.04
31.73
22.17
30.40
32.65
175.99
2.79
8
62.42
31.73
18.14
31.76
32.65
176.69
2.80
9
65.99
31.73
14.11
33.18
32.65
177.66
2.82
10
69.76
31.73
10.08
34.69
32.65
178.91
2.84
11
73.75
31.73
6.05
36.42
39.18
187.13
2.97
12
77.97
31.73
2.02
38.10
39.18
188.99
3.00
13
82.43
13.63
0.00
39.50
39.18
174.74
2.77
14
87.15
13.63
0.00
41.45
39.18
181.41
2.88
15
92.13
13.63
0.00
43.49
39.18
188.44
2.99
16
97.40
13.63
0.00
45.64
39.18
195.86
3.11
17
102.97
13.63
0.00
47.90
39.18
203.69
3.23
18
108.87
13.63
0.00
50.28
39.18
211.96
3.36
19
115.09
13.63
0.00
52.78
39.18
220.68
3.50
20
121.68
13.63
0.00
55.40
39.18
229.89
3.64
Unit
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Rs/kWh
Levellised
6.25
1.02
0.46
0.39
0.51
0.56
9.19
1
4.48
0.83
0.63
0.91
0.40
0.64
7.90
2
4.65
0.71
0.50
0.67
0.39
0.52
7.44
3
4.88
0.75
0.50
0.61
0.41
0.52
7.67
4
5.13
0.79
0.50
0.54
0.42
0.52
7.91
5
5.38
0.84
0.50
0.48
0.44
0.52
8.16
6
5.65
0.89
0.50
0.42
0.46
0.52
8.44
7
5.94
0.94
0.50
0.35
0.48
0.52
8.73
8
6.23
0.99
0.50
0.29
0.50
0.52
9.03
9
6.54
1.05
0.50
0.22
0.53
0.52
9.36
10
6.87
1.11
0.50
0.16
0.55
0.52
9.71
11
7.22
1.17
0.50
0.10
0.58
0.62
10.18
12
7.58
1.24
0.50
0.03
0.60
0.62
10.57
13
7.95
1.31
0.22
0.00
0.63
0.62
10.73
14
8.35
1.38
0.22
0.00
0.66
0.62
11.23
15
8.77
1.46
0.22
0.00
0.69
0.62
11.76
16
9.21
1.54
0.22
0.00
0.72
0.62
12.31
17
9.67
1.63
0.22
0.00
0.76
0.62
12.90
18
10.15
1.73
0.22
0.00
0.80
0.62
13.51
19
10.66
1.82
0.22
0.00
0.84
0.62
14.16
20
11.19
1.93
0.22
0.00
0.88
0.62
14.84
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
19
0.161
4.48 Rs/Kwh
2.94 Rs/Kwh
7.42 Rs/Kwh
Page 116
20
0.146

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.99%
544.187
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.17
1
2.64%
14.37
2
5.28%
28.73
3
5.28%
28.73
4
5.28%
28.73
5
5.28%
28.73
6
5.28%
28.73
7
5.28%
28.73
8
5.28%
28.73
9
5.28%
28.73
10
5.28%
28.73
11
5.28%
28.73
12
5.28%
28.73
13
5.28%
28.73
14
5.28%
28.73
15
5.28%
28.73
16
5.28%
28.73
17
5.28%
28.73
18
2.88%
15.67
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50%
5%
272.09 244.88
5.00%
4.00%
1.00%
21.77
1.00%
0.80%
0.20%
4.35
0.20%
0.16%
0.04%
0.87
0.04%
0.03%
0.01%
0.17
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
257.73
87.60
2.53
3.46
216.15
73.47
6.31
1.16
-6.97
-2.37
6.31
-0.04
-24.38
-8.29
6.31
-0.13
-27.86
-9.47
6.31
-0.15
-28.56
-9.71
6.31
-0.15
-28.70
-9.75
6.31
-0.15
-28.73
-9.76
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-28.73
-9.77
6.31
-0.15
-15.67
-5.33
6.31
-0.08
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
(Rs/kWh)
Page 117
Annexure 4A
Select State
AP
Non Fossil Fuel based co-generation Projects

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
Auxillary Consumption after stabilisation%
%
PLF(during first year after Stablization) %
%
Useful Life
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

Discount Rate (equiv. to WACC)
%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%
Depreciation Rate(power plant)

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Bagasse Price Escalation Factor
Rs/T
Kcal/kg
3600
3600
Biomass
1553.27
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 118
Determination of Tariff for non-fossil fuel basd co-generation Projects

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
3.94
0.34
3.61
2
1
3.94
0.34
3.61
3
1
3.94
0.34
3.61
4
1
3.94
0.34
3.61
5
1
3.94
0.34
3.61
6
1
3.94
0.34
3.61
7
1
3.94
0.34
3.61
8
1
3.94
0.34
3.61
9
1
3.94
0.34
3.61
10
1
3.94
0.34
3.61
11
1
3.94
0.34
3.61
12
1
3.94
0.34
3.61
13
1
3.94
0.34
3.61
14
1
3.94
0.34
3.61
15
1
3.94
0.34
3.61
Year--->
1
17.89
25.69
37.55
9.59
26.44
117.16
3.25
2
18.91
25.69
34.28
9.91
26.44
115.24
3.19
3
19.99
25.69
31.02
10.24
26.44
113.38
3.14
4
21.14
25.69
27.75
10.59
26.44
111.62
3.09
5
22.35
25.69
24.49
10.97
26.44
109.93
3.05
6
23.62
25.69
21.22
11.36
26.44
108.34
3.00
7
24.97
25.69
17.96
11.78
26.44
106.85
2.96
8
26.40
25.69
14.69
12.23
26.44
105.46
2.92
9
27.91
25.69
11.43
12.70
26.44
104.18
2.89
10
29.51
25.69
8.16
13.21
26.44
103.01
2.86
11
31.20
25.69
4.90
13.86
31.73
107.38
2.98
12
32.98
25.69
1.63
14.42
31.73
106.46
2.95
13
34.87
11.04
0.00
14.72
31.73
92.36
2.56
14
36.86
11.04
0.00
15.42
31.73
95.05
2.64
15
16
17
18
38.97 41.20 43.56
46.05
11.04 11.04 11.04
11.04
0.00
0.00
0.00
0.00
16.16 16.93 17.75
18.60
31.73 31.73 31.73
31.73
97.90 100.90 104.07 107.42
2.71
2.80
2.89
2.98
Levellised
3.83
0.74
0.64
0.53
0.34
0.77
6.84
1
2.72
0.50
0.71
1.04
0.27
0.73
5.96
2
2.85
0.52
0.71
0.95
0.27
0.73
6.05
3
2.99
0.55
0.71
0.86
0.28
0.73
6.14
4
3.14
0.59
0.71
0.77
0.29
0.73
6.24
5
3.30
0.62
0.71
0.68
0.30
0.73
6.35
6
3.47
0.65
0.71
0.59
0.32
0.73
6.47
7
3.64
0.69
0.71
0.50
0.33
0.73
6.60
8
3.82
0.73
0.71
0.41
0.34
0.73
6.75
9
4.01
0.77
0.71
0.32
0.35
0.73
6.90
10
4.21
0.82
0.71
0.23
0.37
0.73
7.07
11
4.42
0.86
0.71
0.14
0.38
0.88
7.40
12
4.65
0.91
0.71
0.05
0.40
0.88
7.60
13
4.88
0.97
0.31
0.00
0.41
0.88
7.44
14
5.12
1.02
0.31
0.00
0.43
0.88
7.76
15
5.38
1.08
0.31
0.00
0.45
0.88
8.09
16
5.65
1.14
0.31
0.00
0.47
0.88
8.44
17
5.93
1.21
0.31
0.00
0.49
0.88
8.81
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
18
1
3.94
0.34
3.61
18
6.23
1.28
0.31
0.00
0.52
0.88
9.20
18
0.178
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
19
48.68
11.04
0.00
19.50
31.73
110.96
3.08
20
51.47
11.04
0.00
20.45
31.73
114.69
3.18
19
6.54
1.35
0.31
0.00
0.54
0.88
9.61
20
6.86
1.43
0.31
0.00
0.57
0.88
10.04
19
0.161
2.72 Rs/Kwh
3.01 Rs/Kwh
5.73 Rs/Kwh
Page 119
20
0.146
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 120
Annexure 4B
Select State
Harayana

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
2209.27
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 121

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
Year--->
1
17.89
25.69
37.55
14.06
26.44
121.63
2.86
2
18.91
25.69
34.28
14.59
26.44
119.92
2.82
3
19.99
25.69
31.02
15.16
26.44
118.31
2.78
4
21.14
25.69
27.75
15.76
26.44
116.78
2.75
5
22.35
25.69
24.49
16.39
26.44
115.36
2.72
6
23.62
25.69
21.22
17.06
26.44
114.04
2.68
7
24.97
25.69
17.96
17.77
26.44
112.83
2.66
8
26.40
25.69
14.69
18.51
26.44
111.74
2.63
9
27.91
25.69
11.43
19.30
26.44
110.78
2.61
10
29.51
25.69
8.16
20.13
26.44
109.94
2.59
11
31.20
25.69
4.90
21.13
31.73
114.65
2.70
Levellised
5.45
0.63
0.54
0.45
0.44
0.66
8.16
1
3.86
0.42
0.60
0.88
0.33
0.62
6.73
2
4.06
0.45
0.60
0.81
0.34
0.62
6.88
3
4.26
0.47
0.60
0.73
0.36
0.62
7.04
4
4.47
0.50
0.60
0.65
0.37
0.62
7.22
5
4.70
0.53
0.60
0.58
0.39
0.62
7.41
6
4.93
0.56
0.60
0.50
0.40
0.62
7.62
7
5.18
0.59
0.60
0.42
0.42
0.62
7.83
8
5.44
0.62
0.60
0.35
0.44
0.62
8.07
9
5.71
0.66
0.60
0.27
0.45
0.62
8.32
10
5.99
0.69
0.60
0.19
0.47
0.62
8.58
11
6.29
0.73
0.60
0.12
0.50
0.75
8.99
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
12
13
14
32.98
34.87 36.86
25.69
11.04 11.04
1.63
0.00
0.00
22.05
22.73 23.84
31.73
31.73 31.73
114.09 100.37 103.47
2.69
2.36
2.44
12
6.61
0.78
0.60
0.04
0.52
0.75
9.29
12
0.328
13
6.94
0.82
0.26
0.00
0.54
0.75
9.30
14
7.28
0.87
0.26
0.00
0.56
0.75
9.72
13
0.296
14
0.268
15
1
4.64
0.39
4.25
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
15
38.97
11.04
0.00
24.99
31.73
106.74
2.51
16
17
18
41.20 43.56
46.05
11.04 11.04
11.04
0.00
0.00
0.00
26.21 27.49
28.83
31.73 31.73
31.73
110.18 113.82 117.65
2.59
2.68
2.77
19
48.68
11.04
0.00
30.24
31.73
121.70
2.86
20
51.47
11.04
0.00
31.73
31.73
125.97
2.97
15
7.65
0.92
0.26
0.00
0.59
0.75
10.16
16
8.03
0.97
0.26
0.00
0.62
0.75
10.63
19
9.30
1.15
0.26
0.00
0.71
0.75
12.16
20
9.76
1.21
0.26
0.00
0.75
0.75
12.73
15
0.242
16
0.219
17
8.43
1.03
0.26
0.00
0.65
0.75
11.11
17
0.198
18
8.85
1.08
0.26
0.00
0.68
0.75
11.62
18
0.178
19
0.161
3.86 Rs/Kwh
2.71 Rs/Kwh
6.57 Rs/Kwh
Page 122
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 123
Annexure 4C
Select State
Maharashtra

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
2177.19
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 124

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
5.26
0.45
4.81
2
1
5.26
0.45
4.81
3
1
5.26
0.45
4.81
4
1
5.26
0.45
4.81
5
1
5.26
0.45
4.81
6
1
5.26
0.45
4.81
7
1
5.26
0.45
4.81
8
1
5.26
0.45
4.81
9
1
5.26
0.45
4.81
10
1
5.26
0.45
4.81
11
1
5.26
0.45
4.81
Year--->
1
17.89
25.69
37.55
15.34
26.44
122.91
2.56
2
18.91
25.69
34.28
15.94
26.44
121.27
2.52
3
19.99
25.69
31.02
16.57
26.44
119.72
2.49
4
21.14
25.69
27.75
17.24
26.44
118.27
2.46
5
22.35
25.69
24.49
17.95
26.44
116.92
2.43
6
23.62
25.69
21.22
18.70
26.44
115.68
2.41
7
24.97
25.69
17.96
19.48
26.44
114.55
2.38
8
26.40
25.69
14.69
20.31
26.44
113.55
2.36
9
27.91
25.69
11.43
21.19
26.44
112.67
2.34
10
29.51
25.69
8.16
22.12
26.44
111.93
2.33
11
31.20
25.69
4.90
23.21
31.73
116.73
2.43
Levellised
5.37
0.55
0.48
0.39
0.42
0.58
7.80
1
3.81
0.37
0.53
0.78
0.32
0.55
6.36
2
4.00
0.39
0.53
0.71
0.33
0.55
6.52
3
4.20
0.42
0.53
0.64
0.34
0.55
6.69
4
4.41
0.44
0.53
0.58
0.36
0.55
6.87
5
4.63
0.46
0.53
0.51
0.37
0.55
7.06
6
4.86
0.49
0.53
0.44
0.39
0.55
7.26
7
5.10
0.52
0.53
0.37
0.41
0.55
7.48
8
5.36
0.55
0.53
0.31
0.42
0.55
7.72
9
5.62
0.58
0.53
0.24
0.44
0.55
7.97
10
5.91
0.61
0.53
0.17
0.46
0.55
8.23
11
6.20
0.65
0.53
0.10
0.48
0.66
8.63
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
1
5.26
0.45
4.81
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
12
13
14
32.98
34.87 36.86
25.69
11.04 11.04
1.63
0.00
0.00
24.24
25.03 26.25
31.73
31.73 31.73
116.28 102.67 105.89
2.42
2.13
2.20
12
6.51
0.69
0.53
0.03
0.50
0.66
8.93
12
0.328
15
1
5.26
0.45
4.81
15
38.97
11.04
0.00
27.53
31.73
109.27
2.27
13
6.84
0.73
0.23
0.00
0.52
0.66
8.97
14
7.18
0.77
0.23
0.00
0.55
0.66
9.38
15
7.54
0.81
0.23
0.00
0.57
0.66
9.81
13
0.296
14
0.268
15
0.242
16
1
5.26
0.45
4.81
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
16
17
18
41.20 43.56
46.05
11.04 11.04
11.04
0.00
0.00
0.00
28.87 30.29
31.77
31.73 31.73
31.73
112.85 116.61 120.59
2.35
2.42
2.51
19
48.68
11.04
0.00
33.33
31.73
124.78
2.59
20
51.47
11.04
0.00
34.96
31.73
129.20
2.69
16
7.91
0.86
0.23
0.00
0.60
0.66
10.26
19
9.16
1.01
0.23
0.00
0.69
0.66
11.76
20
9.62
1.07
0.23
0.00
0.73
0.66
12.31
16
0.219
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
17
8.31
0.91
0.23
0.00
0.63
0.66
10.74
18
8.73
0.96
0.23
0.00
0.66
0.66
11.23
17
0.198
18
0.178
19
0.161
3.81 Rs/Kwh
2.43 Rs/Kwh
6.24 Rs/Kwh
Page 125
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 126
Annexure 4D
Select State
Punjab

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
1944.26
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 127

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
14
1
4.64
0.39
4.25
15
1
4.64
0.39
4.25
Year--->
1
17.89
25.69
37.55
12.73
26.44
120.30
2.83
2
18.91
25.69
34.28
13.20
26.44
118.53
2.79
3
19.99
25.69
31.02
13.70
26.44
116.84
2.75
4
21.14
25.69
27.75
14.22
26.44
115.25
2.71
5
22.35
25.69
24.49
14.78
26.44
113.75
2.68
6
23.62
25.69
21.22
15.37
26.44
112.35
2.64
7
24.97
25.69
17.96
15.99
26.44
111.05
2.61
8
26.40
25.69
14.69
16.64
26.44
109.87
2.59
9
27.91
25.69
11.43
17.34
26.44
108.81
2.56
10
29.51
25.69
8.16
18.07
26.44
107.88
2.54
11
31.20
25.69
4.90
18.96
31.73
112.48
2.65
12
32.98
25.69
1.63
19.78
31.73
111.82
2.63
13
34.87
11.04
0.00
20.35
31.73
97.99
2.31
14
36.86
11.04
0.00
21.33
31.73
100.97
2.38
15
38.97
11.04
0.00
22.36
31.73
104.11
2.45
Levellised
4.79
0.63
0.54
0.45
0.39
0.66
7.46
1
3.40
0.42
0.60
0.88
0.30
0.62
6.23
2
3.57
0.45
0.60
0.81
0.31
0.62
6.36
3
3.75
0.47
0.60
0.73
0.32
0.62
6.50
4
3.94
0.50
0.60
0.65
0.33
0.62
6.65
5
4.13
0.53
0.60
0.58
0.35
0.62
6.81
6
4.34
0.56
0.60
0.50
0.36
0.62
6.98
7
4.56
0.59
0.60
0.42
0.38
0.62
7.17
8
4.78
0.62
0.60
0.35
0.39
0.62
7.37
9
5.02
0.66
0.60
0.27
0.41
0.62
7.58
10
5.27
0.69
0.60
0.19
0.43
0.62
7.81
11
5.54
0.73
0.60
0.12
0.45
0.75
8.19
12
5.81
0.78
0.60
0.04
0.47
0.75
8.45
13
6.11
0.82
0.26
0.00
0.48
0.75
8.41
14
6.41
0.87
0.26
0.00
0.50
0.75
8.79
15
6.73
0.92
0.26
0.00
0.53
0.75
9.18
16
7.07
0.97
0.26
0.00
0.55
0.75
9.60
13
0.296
14
0.268
15
0.242
16
0.219
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
16
17
18
41.20 43.56
46.05
11.04 11.04
11.04
0.00
0.00
0.00
23.45 24.59
25.79
31.73 31.73
31.73
107.42 110.92 114.61
2.53
2.61
2.70
17
7.42
1.03
0.26
0.00
0.58
0.75
10.03
17
0.198
18
7.79
1.08
0.26
0.00
0.61
0.75
10.49
18
0.178
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
19
48.68
11.04
0.00
27.05
31.73
118.50
2.79
20
51.47
11.04
0.00
28.37
31.73
122.61
2.89
19
8.18
1.15
0.26
0.00
0.64
0.75
10.97
20
8.59
1.21
0.26
0.00
0.67
0.75
11.48
19
0.161
3.40 Rs/Kwh
2.66 Rs/Kwh
6.06 Rs/Kwh
Page 128
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 129
Annexure 4E
Select State
TN

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
60%
60%
60%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
1673.30
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 130

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
5.26
0.45
4.81
2
1
5.26
0.45
4.81
3
1
5.26
0.45
4.81
4
1
5.26
0.45
4.81
5
1
5.26
0.45
4.81
6
1
5.26
0.45
4.81
7
1
5.26
0.45
4.81
8
1
5.26
0.45
4.81
9
1
5.26
0.45
4.81
10
1
5.26
0.45
4.81
11
1
5.26
0.45
4.81
12
1
5.26
0.45
4.81
13
1
5.26
0.45
4.81
14
1
5.26
0.45
4.81
15
1
5.26
0.45
4.81
Year--->
1
17.89
25.69
37.55
12.48
26.44
120.05
2.50
2
18.91
25.69
34.28
12.94
26.44
118.26
2.46
3
19.99
25.69
31.02
13.42
26.44
116.56
2.42
4
21.14
25.69
27.75
13.93
26.44
114.96
2.39
5
22.35
25.69
24.49
14.47
26.44
113.44
2.36
6
23.62
25.69
21.22
15.05
26.44
112.03
2.33
7
24.97
25.69
17.96
15.65
26.44
110.72
2.30
8
26.40
25.69
14.69
16.29
26.44
109.52
2.28
9
27.91
25.69
11.43
16.97
26.44
108.44
2.25
10
29.51
25.69
8.16
17.68
26.44
107.49
2.24
11
31.20
25.69
4.90
18.55
31.73
112.07
2.33
12
32.98
25.69
1.63
19.35
31.73
111.39
2.32
13
34.87
11.04
0.00
19.90
31.73
97.54
2.03
14
36.86
11.04
0.00
20.86
31.73
100.49
2.09
15
38.97
11.04
0.00
21.87
31.73
103.61
2.15
Levellised
4.13
0.55
0.48
0.39
0.34
0.58
6.47
1
2.93
0.37
0.53
0.78
0.26
0.55
5.42
2
3.07
0.39
0.53
0.71
0.27
0.55
5.53
3
3.23
0.42
0.53
0.64
0.28
0.55
5.65
4
3.39
0.44
0.53
0.58
0.29
0.55
5.78
5
3.56
0.46
0.53
0.51
0.30
0.55
5.92
6
3.73
0.49
0.53
0.44
0.31
0.55
6.06
7
3.92
0.52
0.53
0.37
0.33
0.55
6.22
8
4.12
0.55
0.53
0.31
0.34
0.55
6.39
9
4.32
0.58
0.53
0.24
0.35
0.55
6.58
10
4.54
0.61
0.53
0.17
0.37
0.55
6.77
11
4.77
0.65
0.53
0.10
0.39
0.66
7.10
12
5.00
0.69
0.53
0.03
0.40
0.66
7.32
13
5.25
0.73
0.23
0.00
0.41
0.66
7.28
14
5.52
0.77
0.23
0.00
0.43
0.66
7.61
15
5.79
0.81
0.23
0.00
0.45
0.66
7.95
16
6.08
0.86
0.23
0.00
0.48
0.66
8.31
17
6.39
0.91
0.23
0.00
0.50
0.66
8.68
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
16
17
18
41.20 43.56
46.05
11.04 11.04
11.04
0.00
0.00
0.00
22.93 24.04
25.21
31.73 31.73
31.73
106.90 110.37 114.03
2.22
2.30
2.37
18
6.71
0.96
0.23
0.00
0.52
0.66
9.08
18
0.178
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
19
48.68
11.04
0.00
26.44
31.73
117.90
2.45
20
51.47
11.04
0.00
27.74
31.73
121.98
2.54
19
7.04
1.01
0.23
0.00
0.55
0.66
9.49
20
7.39
1.07
0.23
0.00
0.58
0.66
9.93
19
0.161
2.93 Rs/Kwh
2.35 Rs/Kwh
5.27 Rs/Kwh
Page 131
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 132
Annexure 4F
Select State
UP

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
45%
45%
45%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
1732.72
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 133

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
3.94
0.34
3.61
2
1
3.94
0.34
3.61
3
1
3.94
0.34
3.61
4
1
3.94
0.34
3.61
5
1
3.94
0.34
3.61
6
1
3.94
0.34
3.61
7
1
3.94
0.34
3.61
8
1
3.94
0.34
3.61
9
1
3.94
0.34
3.61
10
1
3.94
0.34
3.61
11
1
3.94
0.34
3.61
12
1
3.94
0.34
3.61
13
1
3.94
0.34
3.61
14
1
3.94
0.34
3.61
15
1
3.94
0.34
3.61
Year--->
1
17.89
25.69
37.55
10.36
26.44
117.93
3.27
2
18.91
25.69
34.28
10.71
26.44
116.04
3.22
3
19.99
25.69
31.02
11.08
26.44
114.23
3.17
4
21.14
25.69
27.75
11.48
26.44
112.50
3.12
5
22.35
25.69
24.49
11.89
26.44
110.86
3.07
6
23.62
25.69
21.22
12.34
26.44
109.32
3.03
7
24.97
25.69
17.96
12.81
26.44
107.88
2.99
8
26.40
25.69
14.69
13.31
26.44
106.54
2.95
9
27.91
25.69
11.43
13.83
26.44
105.31
2.92
10
29.51
25.69
8.16
14.39
26.44
104.20
2.89
11
31.20
25.69
4.90
15.10
31.73
108.62
3.01
12
32.98
25.69
1.63
15.72
31.73
107.76
2.99
13
34.87
11.04
0.00
16.09
31.73
93.73
2.60
14
36.86
11.04
0.00
16.86
31.73
96.49
2.68
15
38.97
11.04
0.00
17.67
31.73
99.41
2.76
Levellised
4.27
0.74
0.64
0.53
0.37
0.77
7.32
1
3.03
0.50
0.71
1.04
0.29
0.73
6.30
2
3.18
0.52
0.71
0.95
0.30
0.73
6.40
3
3.34
0.55
0.71
0.86
0.31
0.73
6.51
4
3.51
0.59
0.71
0.77
0.32
0.73
6.63
5
3.68
0.62
0.71
0.68
0.33
0.73
6.76
6
3.87
0.65
0.71
0.59
0.34
0.73
6.90
7
4.06
0.69
0.71
0.50
0.36
0.73
7.05
8
4.26
0.73
0.71
0.41
0.37
0.73
7.22
9
4.48
0.77
0.71
0.32
0.38
0.73
7.40
10
4.70
0.82
0.71
0.23
0.40
0.73
7.59
11
4.94
0.86
0.71
0.14
0.42
0.88
7.95
12
5.18
0.91
0.71
0.05
0.44
0.88
8.17
13
5.44
0.97
0.31
0.00
0.45
0.88
8.04
14
5.71
1.02
0.31
0.00
0.47
0.88
8.39
15
6.00
1.08
0.31
0.00
0.49
0.88
8.76
16
6.30
1.14
0.31
0.00
0.51
0.88
9.14
17
6.61
1.21
0.31
0.00
0.54
0.88
9.55
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
16
17
41.20 43.56
11.04 11.04
0.00
0.00
18.52 19.41
31.73 31.73
102.49 105.74
2.84
2.93
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
18
46.05
11.04
0.00
20.35
31.73
109.17
3.03
19
48.68
11.04
0.00
21.34
31.73
112.79
3.13
20
51.47
11.04
0.00
22.38
31.73
116.62
3.23
18
6.94
1.28
0.31
0.00
0.56
0.88
9.97
19
7.29
1.35
0.31
0.00
0.59
0.88
10.42
20
7.66
1.43
0.31
0.00
0.62
0.88
10.89
18
0.178
19
0.161
3.03 Rs/Kwh
3.04 Rs/Kwh
6.07 Rs/Kwh
Page 134
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.24
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
1.80
3.93
175.05
59.50
3.61
1.65
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
3.61
-0.05 -0.19 -0.21 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.22 -0.12
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.17
0.15
(Rs/kWh)
Page 135
Annexure 4G
Select State
Others

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
73
Assumptions
Capacity
MW
%
%
%
Useful Life
Years
1
8.50%
8.50%
53%
53%
53%
20
2 Project Cost
Capital Cost/MW
Power Plant Cost
Rs Lacs/MW
440.708
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
308.496
132.212
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
308.50
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
132.21
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income
Tax
MAT
Rate
33.990%
20%

%
%
5.83%
2.51%
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
13.20%

Kcal/kwh
Kcal/kwh
Bagasse Price
GCV - Bagasse
Rs/T
Kcal/kg
3600
3600
Biomass
1881.27
2250
5.00%

Rs. Lacs
%
Rs. Lacs
17.89
5.72%
16.92
Page 136

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Fixed Cost
Unit
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
Per unit Fixed Cost
Rs/kWh
Unit
Variable COG
Rs/kWh
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised Tariff
Discount Factor
Unit
Year--->
1
1
4.64
0.39
4.25
2
1
4.64
0.39
4.25
3
1
4.64
0.39
4.25
4
1
4.64
0.39
4.25
5
1
4.64
0.39
4.25
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
8
1
4.64
0.39
4.25
9
1
4.64
0.39
4.25
10
1
4.64
0.39
4.25
11
1
4.64
0.39
4.25
12
1
4.64
0.39
4.25
13
1
4.64
0.39
4.25
Year--->
1
17.89
25.69
37.55
12.41
26.44
119.98
2.82
2
18.91
25.69
34.28
12.87
26.44
118.20
2.78
3
19.99
25.69
31.02
13.35
26.44
116.49
2.74
4
21.14
25.69
27.75
13.86
26.44
114.88
2.70
5
22.35
25.69
24.49
14.39
26.44
113.36
2.67
6
23.62
25.69
21.22
14.96
26.44
111.94
2.64
7
24.97
25.69
17.96
15.56
26.44
110.63
2.60
8
26.40
25.69
14.69
16.20
26.44
109.43
2.58
9
27.91
25.69
11.43
16.87
26.44
108.35
2.55
10
29.51
25.69
8.16
17.58
26.44
107.39
2.53
11
31.20
25.69
4.90
18.45
31.73
111.97
2.64
12
32.98
25.69
1.63
19.24
31.73
111.28
2.62
13
34.87
11.04
0.00
19.78
31.73
97.42
2.29
Levellised
4.64
0.63
0.54
0.45
0.38
0.66
7.29
1
3.29
0.42
0.60
0.88
0.29
0.62
6.11
2
3.45
0.45
0.60
0.81
0.30
0.62
6.24
3
3.63
0.47
0.60
0.73
0.31
0.62
6.37
4
3.81
0.50
0.60
0.65
0.33
0.62
6.51
5
4.00
0.53
0.60
0.58
0.34
0.62
6.67
6
4.20
0.56
0.60
0.50
0.35
0.62
6.83
7
4.41
0.59
0.60
0.42
0.37
0.62
7.01
8
4.63
0.62
0.60
0.35
0.38
0.62
7.20
9
4.86
0.66
0.60
0.27
0.40
0.62
7.41
10
5.10
0.69
0.60
0.19
0.41
0.62
7.63
11
5.36
0.73
0.60
0.12
0.43
0.75
7.99
12
5.63
0.78
0.60
0.04
0.45
0.75
8.25
13
5.91
0.82
0.26
0.00
0.47
0.75
8.20
14
6.20
0.87
0.26
0.00
0.49
0.75
8.57
15
6.51
0.92
0.26
0.00
0.51
0.75
8.95
16
6.84
0.97
0.26
0.00
0.54
0.75
9.35
17
7.18
1.03
0.26
0.00
0.56
0.75
9.78
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
14
1
4.64
0.39
4.25
15
1
4.64
0.39
4.25
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
14
15
16
17
36.86 38.97 41.20 43.56
11.04 11.04 11.04 11.04
0.00
0.00
0.00
0.00
20.74 21.74 22.79 23.90
31.73 31.73 31.73 31.73
100.37 103.48 106.77 110.23
2.36
2.44
2.51
2.59
18
1
4.64
0.39
4.25
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
18
46.05
11.04
0.00
25.06
31.73
113.88
2.68
19
48.68
11.04
0.00
26.29
31.73
117.74
2.77
20
51.47
11.04
0.00
27.57
31.73
121.81
2.87
18
7.54
1.08
0.26
0.00
0.59
0.75
10.22
19
7.92
1.15
0.26
0.00
0.62
0.75
10.69
20
8.31
1.21
0.26
0.00
0.65
0.75
11.18
18
0.178
19
0.161
3.29 Rs/Kwh
2.65 Rs/Kwh
5.94 Rs/Kwh
Page 137
20
0.146

Depreciation amount
90%
5.28%
80%
20.00%
33.990%
440.708
Years
----------------->
Book Depreciation
Unit
%
1
2.64%
Book Depreciation
Rs Lakh
11.63
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting Factor
Levellised benefit
0.21
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 5.28% 2.88% 0.00% 0.00%
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
23.27
12.69
0.00
0.00
100.00% 50.00% 5.00% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50% 45.00% 4.00% 0.80% 0.16% 0.03% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
50%
5% 1.00% 0.20% 0.04% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
220.35 198.32 17.63
3.53
0.71
0.14
0.03
0.01
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
208.72
70.94
2.12
3.34
175.05
59.50
4.25
1.40
1.00
0.95
-5.64 -19.74 -22.56 -23.13 -23.24 -23.26 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -23.27 -12.69
-1.92 -6.71 -7.67 -7.86 -7.90 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -7.91 -4.31
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
4.25
-0.05 -0.16 -0.18 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.19 -0.10
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.17
0.15
(Rs/kWh)
Page 138
Annexure 5A
Assumpion for Solar PV Power Projects Parameters

S. No.
1
Assumption
Sub-Head
Head
Sub-Head (2)
Unit
Asumptions
Power Generation
Capacity
Useful Life
MW
%
%
Years
1
0.00%
19.0%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Rs Lacs
483.70
Total Equity Amout
Rs Lacs
207.30
Loan Amount
Rs Lacs
483.70
Moratorium Period
years
years
12
Interest Rate
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
% p.a
207.30
20.00%
10
24.00%
22.40%
2 Project Cost
Capital Cost/MW
691
25
Debt: Equity
70%
30%
Debt Component
Equity Component
Discount Rate
4
10.67%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.990%
20.000%
Yes
Depreciation

5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
5.83%
1.54%
12
Months
%
Months
%
1
15%
2
13.20%

Rs. Lacs
12.30

%
Rs. Lacs
5.72%
11.63
Page 139
Determination of Tariff for Solar PV

Units Generation
Installed Capacity
Gross Generation
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
MU
Year--->
1
1
1.664
0.00000
1.664
2
1
1.66
0.00000
1.664
3
1
1.66
0.00000
1.664
4
1
1.66
0.00000
1.664
5
1
1.66
0.00000
1.664
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
1.66
0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000 0.00000
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
1.664
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
12.30
40.29
58.87
3.83
41.46
156.74
2
13.00
40.29
53.75
3.75
41.46
152.24
3
13.74
40.29
48.63
3.67
41.46
147.79
4
14.53
40.29
43.51
3.60
41.46
143.39
5
15.36
40.29
38.39
3.53
41.46
139.03
6
16.24
40.29
33.27
3.46
41.46
134.72
7
17.17
40.29
28.16
3.40
41.46
130.47
8
18.15
40.29
23.04
3.34
41.46
126.27
9
19.19
40.29
17.92
3.28
41.46
122.13
10
20.28
40.29
12.80
3.22
41.46
118.05
11
21.44
40.29
7.68
3.36
49.75
122.52
12
22.67
40.29
2.56
3.31
49.75
118.57
13
23.97
10.65
0.00
2.65
49.75
87.02
14
25.34
10.65
0.00
2.73
49.75
88.47
15
26.79
10.65
0.00
2.80
49.75
90.00
16
28.32
10.65
0.00
2.89
49.75
91.61
17
29.94
10.65
0.00
2.98
49.75
93.32
18
31.65
10.65
0.00
3.07
49.75
95.12
19
33.46
10.65
0.00
3.17
49.75
97.03
20
35.38
10.65
0.00
3.27
49.75
99.05
21
37.40
10.65
0.00
3.38
49.75
101.18
22
39.54
10.65
0.00
3.49
49.75
103.44
23
41.80
10.65
0.00
3.62
49.75
105.82
24
44.19
10.65
0.00
3.74
49.75
108.34
25
46.72
10.65
0.00
3.88
49.75
111.01
Levellised COG
Unit
Levellised
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
O&M expn
Rs/kWh
1.18
0.74
0.78
0.83
0.87
0.92
0.98
1.03
1.09
1.15
1.22
1.29
1.36
1.44
1.52
1.61
1.70
1.80
1.90
2.01
2.13
2.25
2.38
2.51
2.66
2.81
Depreciation
Rs/kWh
2.00
2.42
2.42
2.42
2.42
2.42
2.42
2.42
2.42
2.42
2.42
2.42
2.42
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
0.64
Int. on term loan
Rs/kWh
1.69
3.54
3.23
2.92
2.61
2.31
2.00
1.69
1.38
1.08
0.77
0.46
0.15
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs/kWh
0.21
0.23
0.23
0.22
0.22
0.21
0.21
0.20
0.20
0.20
0.19
0.20
0.20
0.16
0.16
0.17
0.17
0.18
0.18
0.19
0.20
0.20
0.21
0.22
0.22
0.23
RoE
Rs/kWh
2.64
2.49
2.49
2.49
2.49
2.49
2.49
2.49
2.49
2.49
2.49
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
2.99
Total COG
Rs/kWh
Levellised
7.72
9.42
9.15
8.88
8.62
8.35
8.09
7.84
7.59
7.34
7.09
7.36
7.12
5.23
5.32
5.41
5.50
5.61
5.72
5.83
5.95
6.08
6.21
6.36
6.51
6.67
0.602
128.45
0.544
128.45
0.492
128.45
0.444
128.45
0.402
128.45
0.363
128.45
0.328
128.45
0.296
128.45
0.268
128.45
0.242
128.45
0.219
128.45
0.198
128.45
0.178
128.45
0.161
128.45
0.146
128.45
0.132
128.45
0.119
128.45
0.108
128.45
0.097
128.45
0.088
128.45
Discount Factor
Fixed Cost
Levellised Tariff
7.72
7.72
1
128.45
0.904
128.45
0.816
128.45
0.738
128.45
0.667
128.45
Rs/Unit
Page 140
Determination of Accelerated Depreciation Benefit for Solar PV Power Projects

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
691.0
Years ----------------->
Book Depreciation
Book Depreciation
Unit
Opening
Closing
Accelrated Deprn.
Tax Benefit
Energy generation
Discounting Factor
Levellised benefit
Rs Lakh
1
2.64%
18.24
2
5.28%
36.48
3
5.28%
36.48
4
5.28%
36.48
5
5.28%
36.48
6
5.28%
36.48
7
5.28%
36.48
8
5.28%
36.48
9
5.28%
36.48
10
5.28%
36.48
11
5.28%
36.48
12
5.28%
36.48
13
5.28%
36.48
14
5.28%
36.48
15
5.28%
36.48
16
5.28%
36.48
17
5.28%
36.48
18
2.88%
19.90
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
%
%
%
Rs Lakh
100.00%
50%
50%
345.50
50.00%
45.00%
5%
310.95
5.00%
4.00%
1.00%
27.64
1.00%
0.80%
0.20%
5.53
0.20%
0.16%
0.04%
1.11
0.04%
0.03%
0.01%
0.22
0.01%
0.01%
0.00%
0.04
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
327.26
111.23
0.83
1.00
274.47
93.29
1.66
0.95
0.95
-8.84
-3.01
1.66
0.86
0.86
-30.96
-10.52
1.66
0.78
0.78
-35.38
-12.03
1.66
0.70
0.70
-36.26
-12.33
1.66
0.63
0.63
-36.44
-12.39
1.66
0.57
0.57
-36.48
-12.40
1.66
0.52
0.52
-36.48
-12.40
1.66
0.47
0.47
-36.48
-12.40
1.66
0.42
0.42
-36.48
-12.40
1.66
0.38
0.38
-36.48
-12.40
1.66
0.34
0.34
-36.48
-12.40
1.66
0.31
0.31
-36.48
-12.40
1.66
0.28
0.28
-36.48
-12.40
1.66
0.25
0.25
-36.48
-12.40
1.66
0.23
0.23
-36.48
-12.40
1.66
0.21
0.21
-19.90
-6.76
1.66
0.19
0.19
0.00
0.00
1.66
0.17
0.17
0.00
0.00
1.66
0.15
0.15
0.00
0.00
1.66
0.14
0.00
0.00
1.66
0.13
0.00
0.00
1.66
0.11
0.00
0.00
1.66
0.10
0.00
0.00
1.66
0.09
0.77
Rs/Unit
Page 141
Annexure-6A
Assumptions for Solar Thermal Power Projects Parameters

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
1
23.0%
10.0%
25

Auxiliary Consumption Factor
Useful Life
MW
%
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
840
360
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
840.00
0
12
12.70%
Equity amount
RoE Period
Discount Rate
Rs Lacs
% p.a
Year
% p.a
%
%
360.00
20.00%
10
24.00%
22.40%
10.67%
Income Tax
80 IA benefits
%
%
Yes/No

%
%
2 Project Cost
Capital Cost/MW
1200.00
3 Sources of Fund
25
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
33.990%
20.000%
Yes
Depreciation
5.83%
1.54%
12
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
%
Months
%
Rs Lacs
%
Rs Lacs
1
15%
2
13.20%
16.77
5.72%
15.86
Page 142
Determination
of Tariff Component - (Solar Thermal) 1
Discount Factor
0.904
0.816
0.738
0.667
0.602
0.544
0.492
0.444
0.402
0.363
0.328
0.296
0.268
0.242
0.219
0.198
0.178
0.161
0.146
0.132
0.119
0.108
0.097
0.088
Units Generation
Unit
Installed Capacity
MW
Net Generation
MU
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
1.81
Year--->
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
O&M Expenses
Depreciation
Rs Lakh
Rs Lakh
16.77
69.96
17.73
69.96
18.74
69.96
19.81
69.96
20.95
69.96
22.14
69.96
23.41
69.96
24.75
69.96
26.16
69.96
27.66
69.96
29.24
69.96
30.92
69.96
32.68
18.50
34.55
18.50
36.53
18.50
38.62
18.50
40.83
18.50
43.17
18.50
45.63
18.50
48.24
18.50
51.00
18.50
53.92
18.50
57.01
18.50
60.27
18.50
63.71
18.50

Return on Equity
Total Fixed Cost
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
102.24
6.40
72.00
267.36
93.35
6.25
72.00
259.28
84.46
6.10
72.00
251.26
75.57
5.96
72.00
243.30
66.68
5.82
72.00
235.40
57.79
5.69
72.00
227.58
48.90
5.56
72.00
219.82
40.01
5.43
72.00
212.14
31.12
5.31
72.00
204.55
22.23
5.19
72.00
197.03
13.34
5.40
86.40
204.33
4.45
5.29
86.40
197.01
0.00
4.12
86.40
141.71
0.00
4.23
86.40
143.68
0.00
4.33
86.40
145.76
0.00
4.44
86.40
147.96
0.00
4.56
86.40
150.29
0.00
4.69
86.40
152.75
0.00
4.82
86.40
155.36
0.00
4.96
86.40
158.11
0.00
5.11
86.40
161.02
0.00
5.27
86.40
164.09
0.00
5.44
86.40
167.34
0.00
5.61
86.40
170.78
0.00
5.80
86.40
174.41
Fixed Cost
Unit
Year--->
Levellised COG
Unit
Levellised
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
O&M expn
Rs/kWh
1.48
0.92
0.98
1.03
1.09
1.16
1.22
1.29
1.36
1.44
1.53
1.61
1.70
1.80
1.91
2.01
2.13
2.25
2.38
2.52
2.66
2.81
2.97
3.14
3.32
3.51
Depreciation
Rs/kWh
3.19
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
3.86
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
1.02
Int. on term loan
Rs/kWh
2.69
5.64
5.15
4.66
4.17
3.68
3.19
2.70
2.21
1.72
1.23
0.74
0.25
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
Rs/kWh
0.31
0.35
0.34
0.34
0.33
0.32
0.31
0.31
0.30
0.29
0.29
0.30
0.29
0.23
0.23
0.24
0.25
0.25
0.26
0.27
0.27
0.28
0.29
0.30
0.31
0.32
RoE
Total COG
Rs/kWh
Rs/kWh
Levellised
4.22
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
3.97
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
4.76
11.88
14.74
14.30
13.86
13.42
12.98
12.55
12.12
11.70
11.28
10.87
11.27
10.86
7.81
7.92
8.04
8.16
8.29
8.42
8.57
8.72
8.88
9.05
9.23
9.42
9.62
Levellised Tariff
11.88
Rs/Unit
Page 143
Determination of Accelerated Depreciation Benefit for Solar Thermal Power Projects

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
1200.0
Years ----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
31.68
2
5.28%
63.36
3
5.28%
63.36
4
5.28%
63.36
5
5.28%
63.36
6
5.28%
63.36
7
5.28%
63.36
8
5.28%
63.36
9
5.28%
63.36
10
5.28%
63.36
11
5.28%
63.36
12
5.28%
63.36
13
5.28%
63.36
14
5.28%
63.36
15
5.28%
63.36
16
5.28%
63.36
17
5.28%
63.36
18
2.88%
34.56
19
0.00%
0.00
20
0.00%
0.00
21
0.00%
0.00
22
0.00%
0.00
23
0.00%
0.00
24
0.00%
0.00
25
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100.00%
50.00%
50.00%
600.00
50.00%
45.00%
5.00%
540.00
5.00%
4.00%
1.00%
48.00
1.00%
0.80%
0.20%
9.60
0.20%
0.16%
0.04%
1.92
0.04%
0.03%
0.01%
0.38
0.01%
0.01%
0.00%
0.08
0.002%
0.001%
0.000%
0.02
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
568.32
193.17
0.91
1.00
476.64
162.01
1.81
0.95
-15.36
-5.22
1.81
0.86
-53.76
-18.27
1.81
0.78
-61.44
-20.88
1.81
0.70
-62.98
-21.41
1.81
0.63
-63.28
-21.51
1.81
0.57
-63.34
-21.53
1.81
0.52
-63.36
-21.54
1.81
0.47
-63.36
-21.54
1.81
0.42
-63.36
-21.54
1.81
0.38
-63.36
-21.54
1.81
0.34
-63.36
-21.54
1.81
0.31
-63.36
-21.54
1.81
0.28
-63.36
-21.54
1.81
0.25
-63.36
-21.54
1.81
0.23
-63.36
-21.54
1.81
0.21
-34.56
-11.75
1.81
0.19
0.00
0.00
1.81
0.17
0.00
0.00
1.81
0.15
0.00
0.00
1.81
0.14
0.00
0.00
1.81
0.13
0.00
0.00
1.81
0.11
0.00
0.00
1.81
0.10
0.00
0.00
1.81
0.09

Tax Benefit
Energy generation
Discounting Factor
Levellised benefit
1.23
Rs/Unit
Page 144
Annexure-7A
Select State
AP
Assumption for Biomass Gasifier Power Project Parameters

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity
Installed Power Generation Capacity MW

%
%
%
Useful Life
Years
Power Plant Cost (before subsidy)
Power Plant Cost (after subsidy)
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
on Equity for first 10 years
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
Financial AssumptionsEconomic Assumptions

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Specific Fuel Consumption
Biomass
Base Price
GCV
- Biomass
Months
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
2751.20
3300
5.00%

O& M Expemses (2014-15)
Rs Lacs
Rs Lacs
1
15%
2
44.71
5.72%
42.29
Page 145
Determination of Tariff Component: Biomass Gasifier Power Projects

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total
Fixed
Cost
Rs
Lakh
Per unit
Fixed
Cost
Rs/kWh
Unit Levellised
Variable COG
Rs/kWh
5.39
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.44
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
7.83
Levellised Tariff
Discount Factor
Variable Cost (FY 2014-15)
Unit
Year -->
1
1
7.45
0.74
6.70
1
256.07
1
44.71
24.90
36.39
21.65
25.63
153.28
2.29
2
1
7.45
0.74
6.70
2
268.87
2
47.27
24.90
33.22
22.58
25.63
153.60
2.29
3
1
7.45
0.74
6.70
3
282.31
3
49.97
24.90
30.06
23.56
25.63
154.12
2.30
4
1
7.45
0.74
6.70
4
296.43
4
52.83
24.90
26.90
24.60
25.63
154.85
2.31
5
1
7.45
0.74
6.70
5
311.25
5
55.85
24.90
23.73
25.69
25.63
155.80
2.32
6
1
7.45
0.74
6.70
6
326.81
6
59.04
24.90
20.57
26.84
25.63
156.98
2.34
7
1
7.45
0.74
6.70
7
343.15
7
62.42
24.90
17.40
28.06
25.63
158.41
2.36
8
1
7.45
0.74
6.70
8
360.31
8
65.99
24.90
14.24
29.34
25.63
160.09
2.39
9
1
7.45
0.74
6.70
9
378.33
9
69.77
24.90
11.07
30.68
25.63
162.05
2.42
10
1
7.45
0.74
6.70
10
397.24
10
73.76
24.90
7.91
32.10
25.63
164.30
2.45
11
1
7.45
0.74
6.70
11
417.11
11
77.98
24.90
4.75
33.72
30.75
172.09
2.57
12
1
7.45
0.74
6.70
12
437.96
12
82.44
24.90
1.58
35.29
30.75
174.97
2.61
13
1
7.45
0.74
6.70
13
459.86
13
87.15
10.70
0.00
36.67
30.75
165.28
2.47
14
1
7.45
0.74
6.70
14
482.85
14
92.14
10.70
0.00
38.49
30.75
172.08
2.57
15
1
7.45
0.74
6.70
15
507.00
15
97.41
10.70
0.00
40.41
30.75
179.27
2.68
16
1
7.45
0.74
6.70
16
532.35
16
102.98
10.70
0.00
42.42
30.75
186.85
2.79
17
1
7.45
0.74
6.70
17
558.96
17
108.87
10.70
0.00
44.53
30.75
194.85
2.91
18
1
7.45
0.74
6.70
18
586.91
18
115.10
10.70
0.00
46.75
30.75
203.30
3.03
19
1
7.45
0.74
6.70
19
616.26
19
121.68
10.70
0.00
49.09
30.75
212.22
3.17
20
1
7.45
0.74
6.70
20
647.07
20
128.64
10.70
0.00
51.54
30.75
221.64
3.31
1
3.82
0.67
0.37
0.54
0.32
0.38
6.11
2
4.01
0.71
0.37
0.50
0.34
0.38
6.30
3
4.21
0.75
0.37
0.45
0.35
0.38
6.51
4
4.42
0.79
0.37
0.40
0.37
0.38
6.73
5
4.64
0.83
0.37
0.35
0.38
0.38
6.97
6
4.88
0.88
0.37
0.31
0.40
0.38
7.22
7
5.12
0.93
0.37
0.26
0.42
0.38
7.48
8
5.38
0.98
0.37
0.21
0.44
0.38
7.77
9
5.65
1.04
0.37
0.17
0.46
0.38
8.06
10
5.93
1.10
0.37
0.12
0.48
0.38
8.38
11
6.22
1.16
0.37
0.07
0.50
0.46
8.79
12
6.54
1.23
0.37
0.02
0.53
0.46
9.15
13
6.86
1.30
0.16
0.00
0.55
0.46
9.33
14
7.21
1.37
0.16
0.00
0.57
0.46
9.77
15
7.57
1.45
0.16
0.00
0.60
0.46
10.24
16
7.94
1.54
0.16
0.00
0.63
0.46
10.73
17
8.34
1.62
0.16
0.00
0.66
0.46
11.25
18
8.76
1.72
0.16
0.00
0.70
0.46
11.79
19
9.20
1.82
0.16
0.00
0.73
0.46
12.36
20
9.66
1.92
0.16
0.00
0.77
0.46
12.96
10
0.40
11
0.36
12
0.33
13
14
0.27
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
0.30
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
3.82 Rs/Kwh
2.44 Rs/Kwh
6.26 Rs/Kwh
Page 146
20
0.15
Determination of Accelerated Depreciation for Biomass Gasifier Power Project

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
202.28
68.76
3.35
2.05
0.23
0.13
Rs/ Unit 1.00

(Rs/kWh)
DiscountingBenefit
Factor
Levellised
Levellised benefit
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 147
Annexure-7B
Select State
Harayana

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
3131.50
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 148

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total
Fixed
Cost
Rs
Lakh
Per unit
Fixed
Cost
Rs/kWh
Unit Levellised
Variable COG
Rs/kWh
6.13
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.49
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
8.63
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
291.46
1
44.71
24.90
36.39
24.04
25.63
155.66
2.32
2
1
7.45
0.74
6.70
2
306.04
2
47.27
24.90
33.22
25.09
25.63
156.11
2.33
3
1
7.45
0.74
6.70
3
321.34
3
49.97
24.90
30.06
26.20
25.63
156.75
2.34
4
1
7.45
0.74
6.70
4
337.41
4
52.83
24.90
26.90
27.36
25.63
157.62
2.35
5
1
7.45
0.74
6.70
5
354.28
5
55.85
24.90
23.73
28.59
25.63
158.70
2.37
6
1
7.45
0.74
6.70
6
371.99
6
59.04
24.90
20.57
29.89
25.63
160.03
2.39
7
1
7.45
0.74
6.70
7
390.59
7
62.42
24.90
17.40
31.26
25.63
161.61
2.41
8
1
7.45
0.74
6.70
8
410.12
8
65.99
24.90
14.24
32.70
25.63
163.46
2.44
9
1
7.45
0.74
6.70
9
430.63
9
69.77
24.90
11.07
34.21
25.63
165.58
2.47
10
1
7.45
0.74
6.70
10
452.16
10
73.76
24.90
7.91
35.81
25.63
168.01
2.51
11
1
7.45
0.74
6.70
11
474.76
11
77.98
24.90
4.75
37.61
30.75
175.98
2.63
12
1
7.45
0.74
6.70
12
498.50
12
82.44
24.90
1.58
39.38
30.75
179.05
2.67
13
1
7.45
0.74
6.70
13
523.43
13
87.15
10.70
0.00
40.96
30.75
169.57
2.53
14
1
7.45
0.74
6.70
14
549.60
14
92.14
10.70
0.00
43.00
30.75
176.59
2.64
15
1
7.45
0.74
6.70
15
577.08
15
97.41
10.70
0.00
45.14
30.75
184.00
2.75
16
1
7.45
0.74
6.70
16
605.93
16
102.98
10.70
0.00
47.38
30.75
191.81
2.86
17
1
7.45
0.74
6.70
17
636.23
17
108.87
10.70
0.00
49.75
30.75
200.07
2.99
18
1
7.45
0.74
6.70
18
668.04
18
115.10
10.70
0.00
52.23
30.75
208.78
3.12
19
1
7.45
0.74
6.70
19
701.44
19
121.68
10.70
0.00
54.84
30.75
217.97
3.25
20
1
7.45
0.74
6.70
20
736.52
20
128.64
10.70
0.00
57.58
30.75
227.67
3.40
1
4.35
0.67
0.37
0.54
0.36
0.38
6.67
2
4.57
0.71
0.37
0.50
0.37
0.38
6.90
3
4.80
0.75
0.37
0.45
0.39
0.38
7.13
4
5.03
0.79
0.37
0.40
0.41
0.38
7.39
5
5.29
0.83
0.37
0.35
0.43
0.38
7.65
6
5.55
0.88
0.37
0.31
0.45
0.38
7.94
7
5.83
0.93
0.37
0.26
0.47
0.38
8.24
8
6.12
0.98
0.37
0.21
0.49
0.38
8.56
9
6.43
1.04
0.37
0.17
0.51
0.38
8.90
10
6.75
1.10
0.37
0.12
0.53
0.38
9.25
11
7.08
1.16
0.37
0.07
0.56
0.46
9.71
12
7.44
1.23
0.37
0.02
0.59
0.46
10.11
13
7.81
1.30
0.16
0.00
0.61
0.46
10.34
14
8.20
1.37
0.16
0.00
0.64
0.46
10.84
15
8.61
1.45
0.16
0.00
0.67
0.46
11.36
16
9.04
1.54
0.16
0.00
0.71
0.46
11.90
17
9.49
1.62
0.16
0.00
0.74
0.46
12.48
18
9.97
1.72
0.16
0.00
0.78
0.46
13.08
19
10.47
1.82
0.16
0.00
0.82
0.46
13.72
20
10.99
1.92
0.16
0.00
0.86
0.46
14.39
10
0.40
11
0.36
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
19
0.16
4.35 Rs/Kwh
2.49 Rs/Kwh
6.84 Rs/Kwh
Page 149
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
202.28
68.76
3.35
2.05
0.23
0.13
Rs/ Unit 1.00

(Rs/kWh)
DiscountingBenefit
Factor
Levellised
Levellised benefit
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 150
Annexure-7C
Select State
Maharashtra

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
3202.80
3300
5.00%

Rs Lacs
Rs Lacs
1
15%
2
44.71
5.72%
42.29
Page 151

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total
Fixed
Cost
Rs
Lakh
Per unit
Fixed
Cost
Rs/kWh
Unit Levellised
Variable COG
Rs/kWh
6.27
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.50
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
8.77
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
298.10
1
44.71
24.90
36.39
24.49
25.63
156.11
2.33
2
1
7.45
0.74
6.70
2
313.01
2
47.27
24.90
33.22
25.56
25.63
156.58
2.34
3
1
7.45
0.74
6.70
3
328.66
3
49.97
24.90
30.06
26.69
25.63
157.25
2.35
4
1
7.45
0.74
6.70
4
345.09
4
52.83
24.90
26.90
27.88
25.63
158.13
2.36
5
1
7.45
0.74
6.70
5
362.34
5
55.85
24.90
23.73
29.14
25.63
159.25
2.38
6
1
7.45
0.74
6.70
6
380.46
6
59.04
24.90
20.57
30.46
25.63
160.60
2.40
7
1
7.45
0.74
6.70
7
399.48
7
62.42
24.90
17.40
31.86
25.63
162.21
2.42
8
1
7.45
0.74
6.70
8
419.46
8
65.99
24.90
14.24
33.33
25.63
164.09
2.45
9
1
7.45
0.74
6.70
9
440.43
9
69.77
24.90
11.07
34.87
25.63
166.24
2.48
10
1
7.45
0.74
6.70
10
462.45
10
73.76
24.90
7.91
36.51
25.63
168.70
2.52
11
1
7.45
0.74
6.70
11
485.57
11
77.98
24.90
4.75
38.34
30.75
176.71
2.64
12
1
7.45
0.74
6.70
12
509.85
12
82.44
24.90
1.58
40.15
30.75
179.82
2.68
13
1
7.45
0.74
6.70
13
535.35
13
87.15
10.70
0.00
41.77
30.75
170.37
2.54
14
1
7.45
0.74
6.70
14
562.11
14
92.14
10.70
0.00
43.84
30.75
177.43
2.65
15
1
7.45
0.74
6.70
15
590.22
15
97.41
10.70
0.00
46.02
30.75
184.88
2.76
16
1
7.45
0.74
6.70
16
619.73
16
102.98
10.70
0.00
48.31
30.75
192.75
2.88
17
1
7.45
0.74
6.70
17
650.72
17
108.87
10.70
0.00
50.72
30.75
201.05
3.00
18
1
7.45
0.74
6.70
18
683.25
18
115.10
10.70
0.00
53.26
30.75
209.80
3.13
19
1
7.45
0.74
6.70
19
717.42
19
121.68
10.70
0.00
55.92
30.75
219.05
3.27
20
1
7.45
0.74
6.70
20
753.29
20
128.64
10.70
0.00
58.71
30.75
228.81
3.41
1
4.45
0.67
0.37
0.54
0.37
0.38
6.78
2
4.67
0.71
0.37
0.50
0.38
0.38
7.01
3
4.90
0.75
0.37
0.45
0.40
0.38
7.25
4
5.15
0.79
0.37
0.40
0.42
0.38
7.51
5
5.41
0.83
0.37
0.35
0.43
0.38
7.78
6
5.68
0.88
0.37
0.31
0.45
0.38
8.07
7
5.96
0.93
0.37
0.26
0.48
0.38
8.38
8
6.26
0.98
0.37
0.21
0.50
0.38
8.71
9
6.57
1.04
0.37
0.17
0.52
0.38
9.05
10
6.90
1.10
0.37
0.12
0.54
0.38
9.42
11
7.25
1.16
0.37
0.07
0.57
0.46
9.88
12
7.61
1.23
0.37
0.02
0.60
0.46
10.29
13
7.99
1.30
0.16
0.00
0.62
0.46
10.53
14
8.39
1.37
0.16
0.00
0.65
0.46
11.04
15
8.81
1.45
0.16
0.00
0.69
0.46
11.57
16
9.25
1.54
0.16
0.00
0.72
0.46
12.12
17
9.71
1.62
0.16
0.00
0.76
0.46
12.71
18
10.20
1.72
0.16
0.00
0.79
0.46
13.33
19
10.71
1.82
0.16
0.00
0.83
0.46
13.97
20
11.24
1.92
0.16
0.00
0.88
0.46
14.66
10
0.40
11
0.36
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
4.45 Rs/Kwh
2.50 Rs/Kwh
6.95 Rs/Kwh
Page 152
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
202.28
68.76
3.35
2.05
0.23
0.13
Rs/ Unit 1.00

(Rs/kWh)
DiscountingBenefit
Factor
Levellised
Levellised benefit
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 153
Annexure-7D
Select State
Punjab

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
3275.29
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 154

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Total
Fixed
Cost
Rs
Lakh
Per unit
Fixed
Cost
Rs/kWh
Unit Levellised
Variable COG
Rs/kWh
6.42
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.51
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
8.93
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
304.85
1
44.71
24.90
36.39
24.94
25.63
156.57
2.34
2
1
7.45
0.74
6.70
2
320.09
2
47.27
24.90
33.22
26.04
25.63
157.06
2.34
3
1
7.45
0.74
6.70
3
336.09
3
49.97
24.90
30.06
27.19
25.63
157.75
2.35
4
1
7.45
0.74
6.70
4
352.90
4
52.83
24.90
26.90
28.41
25.63
158.66
2.37
5
1
7.45
0.74
6.70
5
370.54
5
55.85
24.90
23.73
29.69
25.63
159.80
2.38
6
1
7.45
0.74
6.70
6
389.07
6
59.04
24.90
20.57
31.04
25.63
161.18
2.41
7
1
7.45
0.74
6.70
7
408.53
7
62.42
24.90
17.40
32.47
25.63
162.82
2.43
8
1
7.45
0.74
6.70
8
428.95
8
65.99
24.90
14.24
33.97
25.63
164.73
2.46
9
1
7.45
0.74
6.70
9
450.40
9
69.77
24.90
11.07
35.55
25.63
166.92
2.49
10
1
7.45
0.74
6.70
10
472.92
10
73.76
24.90
7.91
37.21
25.63
169.41
2.53
11
1
7.45
0.74
6.70
11
496.57
11
77.98
24.90
4.75
39.08
30.75
177.46
2.65
12
1
7.45
0.74
6.70
12
521.39
12
82.44
24.90
1.58
40.92
30.75
180.60
2.69
13
1
7.45
0.74
6.70
13
547.46
13
87.15
10.70
0.00
42.58
30.75
171.19
2.55
14
1
7.45
0.74
6.70
14
574.84
14
92.14
10.70
0.00
44.70
30.75
178.29
2.66
15
1
7.45
0.74
6.70
15
603.58
15
97.41
10.70
0.00
46.92
30.75
185.78
2.77
16
1
7.45
0.74
6.70
16
633.76
16
102.98
10.70
0.00
49.26
30.75
193.69
2.89
17
1
7.45
0.74
6.70
17
665.44
17
108.87
10.70
0.00
51.72
30.75
202.04
3.01
18
1
7.45
0.74
6.70
18
698.72
18
115.10
10.70
0.00
54.30
30.75
210.85
3.15
19
1
7.45
0.74
6.70
19
733.65
19
121.68
10.70
0.00
57.01
30.75
220.15
3.29
20
1
7.45
0.74
6.70
20
770.34
20
128.64
10.70
0.00
59.86
30.75
229.96
3.43
1
4.55
0.67
0.37
0.54
0.37
0.38
6.89
2
4.78
0.71
0.37
0.50
0.39
0.38
7.12
3
5.02
0.75
0.37
0.45
0.41
0.38
7.37
4
5.27
0.79
0.37
0.40
0.42
0.38
7.63
5
5.53
0.83
0.37
0.35
0.44
0.38
7.91
6
5.81
0.88
0.37
0.31
0.46
0.38
8.21
7
6.10
0.93
0.37
0.26
0.48
0.38
8.53
8
6.40
0.98
0.37
0.21
0.51
0.38
8.86
9
6.72
1.04
0.37
0.17
0.53
0.38
9.21
10
7.06
1.10
0.37
0.12
0.56
0.38
9.58
11
7.41
1.16
0.37
0.07
0.58
0.46
10.06
12
7.78
1.23
0.37
0.02
0.61
0.46
10.48
13
8.17
1.30
0.16
0.00
0.64
0.46
10.72
14
8.58
1.37
0.16
0.00
0.67
0.46
11.24
15
9.01
1.45
0.16
0.00
0.70
0.46
11.78
16
9.46
1.54
0.16
0.00
0.74
0.46
12.35
17
9.93
1.62
0.16
0.00
0.77
0.46
12.94
18
10.43
1.72
0.16
0.00
0.81
0.46
13.57
19
10.95
1.82
0.16
0.00
0.85
0.46
14.23
20
11.50
1.92
0.16
0.00
0.89
0.46
14.93
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
4.55 Rs/Kwh
2.51 Rs/Kwh
7.06 Rs/Kwh
Page 155
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
DiscountingBenefit
Factor
Levellised
Levellised benefit
0.23
0.13
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
202.28
68.76
3.35
2.05
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00

(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 156
Annexure-7E
Select State
Rajasthan

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
2733.37
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 157

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Totalunit
Fixed
Cost
Rs
Lakh
Per
Fixed
Cost
Rs/kWh
Unit Levellised
Variable COG
Rs/kWh
5.35
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.44
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
7.79
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
254.41
1
44.71
24.90
36.39
21.54
25.63
153.16
2.29
2
1
7.45
0.74
6.70
2
267.13
2
47.27
24.90
33.22
22.46
25.63
153.48
2.29
3
1
7.45
0.74
6.70
3
280.49
3
49.97
24.90
30.06
23.44
25.63
154.00
2.30
4
1
7.45
0.74
6.70
4
294.51
4
52.83
24.90
26.90
24.47
25.63
154.72
2.31
5
1
7.45
0.74
6.70
5
309.24
5
55.85
24.90
23.73
25.55
25.63
155.66
2.32
6
1
7.45
0.74
6.70
6
324.70
6
59.04
24.90
20.57
26.70
25.63
156.84
2.34
7
1
7.45
0.74
6.70
7
340.93
7
62.42
24.90
17.40
27.91
25.63
158.26
2.36
8
1
7.45
0.74
6.70
8
357.98
8
65.99
24.90
14.24
29.18
25.63
159.94
2.39
9
1
7.45
0.74
6.70
9
375.88
9
69.77
24.90
11.07
30.52
25.63
161.89
2.42
10
1
7.45
0.74
6.70
10
394.67
10
73.76
24.90
7.91
31.93
25.63
164.13
2.45
11
1
7.45
0.74
6.70
11
414.40
11
77.98
24.90
4.75
33.53
30.75
171.91
2.57
12
1
7.45
0.74
6.70
12
435.13
12
82.44
24.90
1.58
35.10
30.75
174.78
2.61
13
1
7.45
0.74
6.70
13
456.88
13
87.15
10.70
0.00
36.47
30.75
165.07
2.46
14
1
7.45
0.74
6.70
14
479.73
14
92.14
10.70
0.00
38.28
30.75
171.87
2.56
15
1
7.45
0.74
6.70
15
503.71
15
97.41
10.70
0.00
40.18
30.75
179.04
2.67
16
1
7.45
0.74
6.70
16
528.90
16
102.98
10.70
0.00
42.18
30.75
186.62
2.78
17
1
7.45
0.74
6.70
17
555.34
17
108.87
10.70
0.00
44.29
30.75
194.61
2.90
18
1
7.45
0.74
6.70
18
583.11
18
115.10
10.70
0.00
46.50
30.75
203.05
3.03
19
1
7.45
0.74
6.70
19
612.26
19
121.68
10.70
0.00
48.82
30.75
211.95
3.16
20
1
7.45
0.74
6.70
20
642.88
20
128.64
10.70
0.00
51.26
30.75
221.36
3.30
1
3.80
0.67
0.37
0.54
0.32
0.38
6.08
2
3.99
0.71
0.37
0.50
0.34
0.38
6.28
3
4.19
0.75
0.37
0.45
0.35
0.38
6.48
4
4.39
0.79
0.37
0.40
0.37
0.38
6.70
5
4.61
0.83
0.37
0.35
0.38
0.38
6.94
6
4.85
0.88
0.37
0.31
0.40
0.38
7.19
7
5.09
0.93
0.37
0.26
0.42
0.38
7.45
8
5.34
0.98
0.37
0.21
0.44
0.38
7.73
9
5.61
1.04
0.37
0.17
0.46
0.38
8.02
10
5.89
1.10
0.37
0.12
0.48
0.38
8.34
11
6.18
1.16
0.37
0.07
0.50
0.46
8.75
12
6.49
1.23
0.37
0.02
0.52
0.46
9.10
13
6.82
1.30
0.16
0.00
0.54
0.46
9.28
14
7.16
1.37
0.16
0.00
0.57
0.46
9.72
15
7.52
1.45
0.16
0.00
0.60
0.46
10.19
16
7.89
1.54
0.16
0.00
0.63
0.46
10.68
17
8.29
1.62
0.16
0.00
0.66
0.46
11.19
18
8.70
1.72
0.16
0.00
0.69
0.46
11.73
19
9.14
1.82
0.16
0.00
0.73
0.46
12.30
20
9.59
1.92
0.16
0.00
0.76
0.46
12.90
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
3.80 Rs/Kwh
2.44 Rs/Kwh
6.24 Rs/Kwh
Page 158
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
DiscountingBenefit
Factor
Levellised
Levellised benefit
0.23
0.13
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
202.28
68.76
3.35
2.05
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00

(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 159
Annexure-7F
Select State
TN

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
2706.03
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 160

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Totalunit
Fixed
Cost
Rs
Lakh
Per
Fixed
Cost
Rs/kWh
Unit
Levellised
Variable COG
Rs/kWh
5.30
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.43
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
7.74
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
251.86
1
44.71
24.90
36.39
21.37
25.63
152.99
2.28
2
1
7.45
0.74
6.70
2
264.46
2
47.27
24.90
33.22
22.28
25.63
153.30
2.29
3
1
7.45
0.74
6.70
3
277.68
3
49.97
24.90
30.06
23.25
25.63
153.81
2.30
4
1
7.45
0.74
6.70
4
291.56
4
52.83
24.90
26.90
24.27
25.63
154.52
2.31
5
1
7.45
0.74
6.70
5
306.14
5
55.85
24.90
23.73
25.35
25.63
155.46
2.32
6
1
7.45
0.74
6.70
6
321.45
6
59.04
24.90
20.57
26.48
25.63
156.62
2.34
7
1
7.45
0.74
6.70
7
337.52
7
62.42
24.90
17.40
27.68
25.63
158.03
2.36
8
1
7.45
0.74
6.70
8
354.40
8
65.99
24.90
14.24
28.94
25.63
159.70
2.38
9
1
7.45
0.74
6.70
9
372.12
9
69.77
24.90
11.07
30.26
25.63
161.63
2.41
10
1
7.45
0.74
6.70
10
390.72
10
73.76
24.90
7.91
31.66
25.63
163.86
2.45
11
1
7.45
0.74
6.70
11
410.26
11
77.98
24.90
4.75
33.25
30.75
171.63
2.56
12
1
7.45
0.74
6.70
12
430.77
12
82.44
24.90
1.58
34.81
30.75
174.48
2.60
13
1
7.45
0.74
6.70
13
452.31
13
87.15
10.70
0.00
36.16
30.75
164.77
2.46
14
1
7.45
0.74
6.70
14
474.93
14
92.14
10.70
0.00
37.96
30.75
171.55
2.56
15
1
7.45
0.74
6.70
15
498.67
15
97.41
10.70
0.00
39.84
30.75
178.70
2.67
16
1
7.45
0.74
6.70
16
523.61
16
102.98
10.70
0.00
41.83
30.75
186.26
2.78
17
1
7.45
0.74
6.70
17
549.79
17
108.87
10.70
0.00
43.91
30.75
194.23
2.90
18
1
7.45
0.74
6.70
18
577.28
18
115.10
10.70
0.00
46.10
30.75
202.65
3.02
19
1
7.45
0.74
6.70
19
606.14
19
121.68
10.70
0.00
48.41
30.75
211.54
3.16
20
1
7.45
0.74
6.70
20
636.45
20
128.64
10.70
0.00
50.83
30.75
220.92
3.30
1
3.76
0.67
0.37
0.54
0.32
0.38
6.04
2
3.95
0.71
0.37
0.50
0.33
0.38
6.23
3
4.14
0.75
0.37
0.45
0.35
0.38
6.44
4
4.35
0.79
0.37
0.40
0.36
0.38
6.66
5
4.57
0.83
0.37
0.35
0.38
0.38
6.89
6
4.80
0.88
0.37
0.31
0.40
0.38
7.13
7
5.04
0.93
0.37
0.26
0.41
0.38
7.39
8
5.29
0.98
0.37
0.21
0.43
0.38
7.67
9
5.55
1.04
0.37
0.17
0.45
0.38
7.96
10
5.83
1.10
0.37
0.12
0.47
0.38
8.28
11
6.12
1.16
0.37
0.07
0.50
0.46
8.68
12
6.43
1.23
0.37
0.02
0.52
0.46
9.03
13
6.75
1.30
0.16
0.00
0.54
0.46
9.21
14
7.09
1.37
0.16
0.00
0.57
0.46
9.65
15
7.44
1.45
0.16
0.00
0.59
0.46
10.11
16
7.81
1.54
0.16
0.00
0.62
0.46
10.59
17
8.20
1.62
0.16
0.00
0.66
0.46
11.10
18
8.61
1.72
0.16
0.00
0.69
0.46
11.64
19
9.04
1.82
0.16
0.00
0.72
0.46
12.20
20
9.50
1.92
0.16
0.00
0.76
0.46
12.79
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
3.76 Rs/Kwh
2.44 Rs/Kwh
6.19 Rs/Kwh
Page 161
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
Discounting
Factor
Levellised Benefit
Levellised benefit
0.23
0.13
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
202.28
68.76
3.35
2.05
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00

(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 162
Annexure-7G
Select State
UP

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
2798.73
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 163

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Totalunit
Fixed
Cost
Rs
Lakh
Per
Fixed
Cost
Rs/kWh
Unit
Levellised
Variable COG
Rs/kWh
5.48
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.45
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
7.93
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
260.49
1
44.71
24.90
36.39
21.95
25.63
153.57
2.29
2
1
7.45
0.74
6.70
2
273.52
2
47.27
24.90
33.22
22.89
25.63
153.91
2.30
3
1
7.45
0.74
6.70
3
287.19
3
49.97
24.90
30.06
23.89
25.63
154.45
2.30
4
1
7.45
0.74
6.70
4
301.55
4
52.83
24.90
26.90
24.94
25.63
155.20
2.32
5
1
7.45
0.74
6.70
5
316.63
5
55.85
24.90
23.73
26.05
25.63
156.16
2.33
6
1
7.45
0.74
6.70
6
332.46
6
59.04
24.90
20.57
27.22
25.63
157.36
2.35
7
1
7.45
0.74
6.70
7
349.08
7
62.42
24.90
17.40
28.46
25.63
158.81
2.37
8
1
7.45
0.74
6.70
8
366.54
8
65.99
24.90
14.24
29.76
25.63
160.52
2.40
9
1
7.45
0.74
6.70
9
384.87
9
69.77
24.90
11.07
31.12
25.63
162.50
2.42
10
1
7.45
0.74
6.70
10
404.11
10
73.76
24.90
7.91
32.57
25.63
164.76
2.46
11
1
7.45
0.74
6.70
11
424.31
11
77.98
24.90
4.75
34.20
30.75
172.58
2.58
12
1
7.45
0.74
6.70
12
445.53
12
82.44
24.90
1.58
35.80
30.75
175.48
2.62
13
1
7.45
0.74
6.70
13
467.81
13
87.15
10.70
0.00
37.21
30.75
165.81
2.47
14
1
7.45
0.74
6.70
14
491.20
14
92.14
10.70
0.00
39.05
30.75
172.64
2.58
15
1
7.45
0.74
6.70
15
515.76
15
97.41
10.70
0.00
41.00
30.75
179.86
2.68
16
1
7.45
0.74
6.70
16
541.54
16
102.98
10.70
0.00
43.04
30.75
187.47
2.80
17
1
7.45
0.74
6.70
17
568.62
17
108.87
10.70
0.00
45.18
30.75
195.51
2.92
18
1
7.45
0.74
6.70
18
597.05
18
115.10
10.70
0.00
47.44
30.75
203.99
3.04
19
1
7.45
0.74
6.70
19
626.91
19
121.68
10.70
0.00
49.81
30.75
212.94
3.18
20
1
7.45
0.74
6.70
20
658.25
20
128.64
10.70
0.00
52.30
30.75
222.39
3.32
1
3.89
0.67
0.37
0.54
0.33
0.38
6.18
2
4.08
0.71
0.37
0.50
0.34
0.38
6.38
3
4.29
0.75
0.37
0.45
0.36
0.38
6.59
4
4.50
0.79
0.37
0.40
0.37
0.38
6.82
5
4.72
0.83
0.37
0.35
0.39
0.38
7.06
6
4.96
0.88
0.37
0.31
0.41
0.38
7.31
7
5.21
0.93
0.37
0.26
0.42
0.38
7.58
8
5.47
0.98
0.37
0.21
0.44
0.38
7.86
9
5.74
1.04
0.37
0.17
0.46
0.38
8.17
10
6.03
1.10
0.37
0.12
0.49
0.38
8.49
11
6.33
1.16
0.37
0.07
0.51
0.46
8.91
12
6.65
1.23
0.37
0.02
0.53
0.46
9.27
13
6.98
1.30
0.16
0.00
0.56
0.46
9.46
14
7.33
1.37
0.16
0.00
0.58
0.46
9.91
15
7.70
1.45
0.16
0.00
0.61
0.46
10.38
16
8.08
1.54
0.16
0.00
0.64
0.46
10.88
17
8.49
1.62
0.16
0.00
0.67
0.46
11.40
18
8.91
1.72
0.16
0.00
0.71
0.46
11.95
19
9.35
1.82
0.16
0.00
0.74
0.46
12.53
20
9.82
1.92
0.16
0.00
0.78
0.46
13.14
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
3.89 Rs/Kwh
2.45 Rs/Kwh
6.34 Rs/Kwh
Page 164
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
DiscountingBenefit
Factor
Levellised
Levellised benefit
0.23
0.13
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
202.28
68.76
3.35
2.05
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00

(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 165
Annexure-7H
Select State
Others

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
%
%
Useful Life
Years
Rs Lacs/MW
1
10%
10%
85%
85%
85%
20
577.118
427.118
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.983
128.135
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.98
0
12
12.70%
Equity amount
Return
RoE
Period
Rs Lacs
% p.a
Year
128.14
20.00%
10.00
24.00%
22.00%
10.67%
Income Tax
33.990%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component

Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Heat Rate
Biomass
Base Price
GCV
- Biomass
Months
1
15%
2
Months
Months
%
Kcal/kwh
kg/kWh
4
13.20%
4125
1.25
Rs/T
Kcal/kg
2942.54
3300
5.00%

Rs Lacs
Rs Lacs
44.71
5.72%
42.29
Page 166

Year--->
Units Generation
Unit
Installed Capacity
MW
Gross Generation
MU
MU
Net Generation
MU
Vaiable Cost
Unit
Year--->
Biomass Cost
Rs Lakh
Fixed Cost
Unit
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Rs Lakh
Return on Equity
Rs Lakh
Totalunit
Fixed
Cost
Rs
Lakh
Per
Fixed
Cost
Rs/kWh
Unit
Levellised
Variable COG
Rs/kWh
5.76
O&M expn
Rs/kWh
0.99
Depreciation
Rs/kWh
0.33
Int. on term loan
Rs/kWh
0.27
Rs/kWh
0.47
RoE
Rs/kWh
0.40
Total COG
Rs/kWh
8.23
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
7.45
0.74
6.70
1
273.88
1
44.71
24.90
36.39
22.85
25.63
154.48
2.31
2
1
7.45
0.74
6.70
2
287.57
2
47.27
24.90
33.22
23.84
25.63
154.86
2.31
3
1
7.45
0.74
6.70
3
301.95
3
49.97
24.90
30.06
24.89
25.63
155.45
2.32
4
1
7.45
0.74
6.70
4
317.05
4
52.83
24.90
26.90
25.99
25.63
156.24
2.33
5
1
7.45
0.74
6.70
5
332.90
5
55.85
24.90
23.73
27.15
25.63
157.26
2.35
6
1
7.45
0.74
6.70
6
349.54
6
59.04
24.90
20.57
28.38
25.63
158.52
2.37
7
1
7.45
0.74
6.70
7
367.02
7
62.42
24.90
17.40
29.67
25.63
160.02
2.39
8
1
7.45
0.74
6.70
8
385.37
8
65.99
24.90
14.24
31.03
25.63
161.79
2.41
9
1
7.45
0.74
6.70
9
404.64
9
69.77
24.90
11.07
32.46
25.63
163.83
2.44
10
1
7.45
0.74
6.70
10
424.87
10
73.76
24.90
7.91
33.97
25.63
166.17
2.48
11
1
7.45
0.74
6.70
11
446.12
11
77.98
24.90
4.75
35.67
30.75
174.05
2.60
12
1
7.45
0.74
6.70
12
468.42
12
82.44
24.90
1.58
37.35
30.75
177.02
2.64
13
1
7.45
0.74
6.70
13
491.84
13
87.15
10.70
0.00
38.83
30.75
167.43
2.50
14
1
7.45
0.74
6.70
14
516.44
14
92.14
10.70
0.00
40.76
30.75
174.35
2.60
15
1
7.45
0.74
6.70
15
542.26
15
97.41
10.70
0.00
42.79
30.75
181.65
2.71
16
1
7.45
0.74
6.70
16
569.37
16
102.98
10.70
0.00
44.92
30.75
189.35
2.83
17
1
7.45
0.74
6.70
17
597.84
17
108.87
10.70
0.00
47.16
30.75
197.48
2.95
18
1
7.45
0.74
6.70
18
627.73
18
115.10
10.70
0.00
49.51
30.75
206.06
3.07
19
1
7.45
0.74
6.70
19
659.12
19
121.68
10.70
0.00
51.98
30.75
215.12
3.21
20
1
7.45
0.74
6.70
20
692.07
20
128.64
10.70
0.00
54.58
30.75
224.68
3.35
1
4.09
0.67
0.37
0.54
0.34
0.38
6.39
2
4.29
0.71
0.37
0.50
0.36
0.38
6.60
3
4.51
0.75
0.37
0.45
0.37
0.38
6.83
4
4.73
0.79
0.37
0.40
0.39
0.38
7.06
5
4.97
0.83
0.37
0.35
0.41
0.38
7.31
6
5.22
0.88
0.37
0.31
0.42
0.38
7.58
7
5.48
0.93
0.37
0.26
0.44
0.38
7.86
8
5.75
0.98
0.37
0.21
0.46
0.38
8.16
9
6.04
1.04
0.37
0.17
0.48
0.38
8.48
10
6.34
1.10
0.37
0.12
0.51
0.38
8.82
11
6.66
1.16
0.37
0.07
0.53
0.46
9.25
12
6.99
1.23
0.37
0.02
0.56
0.46
9.63
13
7.34
1.30
0.16
0.00
0.58
0.46
9.84
14
7.71
1.37
0.16
0.00
0.61
0.46
10.31
15
8.09
1.45
0.16
0.00
0.64
0.46
10.80
16
8.50
1.54
0.16
0.00
0.67
0.46
11.32
17
8.92
1.62
0.16
0.00
0.70
0.46
11.87
18
9.37
1.72
0.16
0.00
0.74
0.46
12.44
19
9.84
1.82
0.16
0.00
0.78
0.46
13.05
20
10.33
1.92
0.16
0.00
0.81
0.46
13.68
1
1
2
0.90
3
0.82
4
0.74
5
0.67
6
0.60
7
0.54
8
0.49
9
0.44
10
0.40
11
0.36
12
0.33
13
0.30
14
0.27
15
0.24
16
0.22
17
0.20
18
0.18
4.09 Rs/Kwh
2.47 Rs/Kwh
6.55 Rs/Kwh
Page 167
19
0.16
20
0.15

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
427.118
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
DiscountingBenefit
Factor
Levellised
Levellised benefit
0.23
0.13
1
2.64%
11.28
2
5.28%
22.55
3
5.28%
22.55
4
5.28%
22.55
5
5.28%
22.55
6
5.28%
22.55
7
5.28%
22.55
8
5.28%
22.55
9
5.28%
22.55
10
5.28%
22.55
11
5.28%
22.55
12
5.28%
22.55
13
5.28%
22.55
14
5.28%
22.55
15
5.28%
22.55
16
5.28%
22.55
17
5.28%
22.55
18
2.88%
12.30
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
213.56 192.20
5.00%
4.00%
1.00%
17.08
1.00%
0.80%
0.20%
3.42
0.20%
0.16%
0.04%
0.68
0.04%
0.03%
0.01%
0.14
0.01%
0.01%
0.00%
0.03
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
202.28
68.76
3.35
2.05
169.65
57.66
6.70
0.86
-5.47
-1.86
6.70
-0.03
-19.13
-6.50
6.70
-0.10
-21.87
-7.43
6.70
-0.11
-22.42
-7.62
6.70
-0.11
-22.52
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.66
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-22.55
-7.67
6.70
-0.11
-12.30
-4.18
6.70
-0.06
0.00
0.00
6.70
0.00
0.00
0.00
6.70
0.00
Rs/ Unit 1.00

(Rs/kWh)
0.95
0.86
0.78
0.70
0.63
0.57
0.52
0.47
0.42
0.38
0.34
0.31
0.28
0.25
0.23
0.21
0.19
0.17
0.15
Page 168
Annexure-8A
Assumption for Biogas Based Power Project Parameters
S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
2 Project Cost
Capital Cost/MW
Debt: Equity

%
PLF
%
Useful Life
Years
Rs Lacs/MW
Rs Lacs/MW
1
12%
90%
20
1154.236
854.236
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
597.965
256.271
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
597.97
0
12
12.70%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
%
256.27
20.00%
10.00
24.00%

%
%
22.00%
10.67%
Income Tax
%
%
33.990%
20.0%

%
%
5.83%
2.51%
12.00
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
Months
Months
1
15%
2
Months
%
4
13.20%
Rs/T
kg/kWh
1176.54
3
5.00%
Rs Lacs
%
Rs Lacs
44.71
5.72%
42.29
Biomass
Fuel Price
Substrates Price Escalation Factor
Page 169
Determination of Tariff Component: Biogas Based Power Projects

Unit
MW
MU
MU
MU
Year--->
1
1
7.88
0.95
6.94
2
1
7.88
0.95
6.94
3
1
7.88
0.95
6.94
4
1
7.88
0.95
6.94
5
1
7.88
0.95
6.94
6
1
7.88
0.95
6.94
7
1
7.88
0.95
6.94
8
1
7.88
0.95
6.94
9
1
7.88
0.95
6.94
10
1
7.88
0.95
6.94
11
1
7.88
0.95
6.94
12
1
7.88
0.95
6.94
13
1
7.88
0.95
6.94
14
1
7.88
0.95
6.94
15
1
7.88
0.95
6.94
16
1
7.88
0.95
6.94
17
1
7.88
0.95
6.94
18
1
7.88
0.95
6.94
19
1
7.88
0.95
6.94
20
1
7.88
0.95
6.94
Vaiable Cost
Biomass Cost
Unit
Rs Lakh
Year--->
1
278.28
2
292.19
3
306.80
4
322.14
5
338.25
6
355.16
7
372.92
8
391.56
9
411.14
10
431.70
11
453.28
12
475.95
13
499.74
14
524.73
15
550.97
16
578.51
17
607.44
18
637.81
19
669.70
20
703.19
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
44.71
49.80
72.78
25.10
51.25
243.65
2
47.27
49.80
66.45
26.04
51.25
240.81
3
49.97
49.80
60.12
27.03
51.25
238.17
4
52.83
49.80
53.79
28.07
51.25
235.75
5
55.85
49.80
47.46
29.18
51.25
233.55
6
59.04
49.80
41.14
30.35
51.25
231.59
7
62.42
49.80
34.81
31.59
51.25
229.88
8
65.99
49.80
28.48
32.90
51.25
228.43
9
69.77
49.80
22.15
34.28
51.25
227.26
10
73.76
49.80
15.82
35.74
51.25
226.38
11
77.98
49.80
9.49
37.52
61.50
236.29
12
82.44
49.80
3.16
39.14
61.50
236.05
13
87.15
21.40
0.00
40.30
61.50
210.35
14
92.14
21.40
0.00
42.25
61.50
217.29
15
97.41
21.40
0.00
44.31
61.50
224.62
16
102.98
21.40
0.00
46.47
61.50
232.35
17
108.87
21.40
0.00
48.74
61.50
240.51
18
115.10
21.40
0.00
51.12
61.50
249.12
19
121.68
21.40
0.00
53.63
61.50
258.21
20
128.64
21.40
0.00
56.26
61.50
267.81
Levellised Tariff
Discount Factor
Unit
Units Generation
Installed Capacity
Gross Generation
Net Generation

Year -->
1
1
2
0.904
3
0.816
4
0.738
5
0.667
6
0.602
7
0.544
8
0.492
9
0.444
10
0.402
11
0.363
12
0.328
13
0.296
14
0.268
15
0.242
16
0.219
17
0.198
18
0.178
4.01 Rs/Kwh
3.39 Rs/Kwh
7.40 Rs/Kwh
Page 170
19
0.161
20
0.146
Determination of Accelerated Depreciation for Biogas based Power Project

Depreciation amount
Capital Cost
90%
5.28%
80%
20.00%
33.990%
854.236
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh

Tax Benefit
Per unit benefit
Discounting Factor
Levellised benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
0.25
1
2.64%
22.55
2
5.28%
45.10
3
5.28%
45.10
4
5.28%
45.10
5
5.28%
45.10
6
5.28%
45.10
7
5.28%
45.10
8
5.28%
45.10
9
5.28%
45.10
10
5.28%
45.10
11
5.28%
45.10
12
5.28%
45.10
13
5.28%
45.10
14
5.28%
45.10
15
5.28%
45.10
16
5.28%
45.10
17
5.28%
45.10
18
2.88%
24.60
19
0.00%
0.00
20
0.00%
0.00
100.00% 50.00%
50% 45.00%
50.00% 5.00%
427.12 384.41
5.00%
4.00%
1.00%
34.17
1.00%
0.80%
0.20%
6.83
0.20%
0.16%
0.04%
1.37
0.04%
0.03%
0.01%
0.27
0.01%
0.01%
0.00%
0.05
0.00%
0.00%
0.00%
0.01
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
0.00%
0.00%
0.00%
0.00
-10.93
-3.72
6.94
-0.05
3.08
-38.27
-13.01
6.94
-0.19
2.78
-43.74
-14.87
6.94
-0.21
2.51
-44.83
-15.24
6.94
-0.22
2.26
-45.05
-15.31
6.94
-0.22
2.04
-45.09
-15.33
6.94
-0.22
1.83
-45.10
-15.33
6.94
-0.22
1.65
-45.10
-15.33
6.94
-0.22
1.49
-45.10
-15.33
6.94
-0.22
1.34
-45.10
-15.33
6.94
-0.22
1.21
-45.10
-15.33
6.94
-0.22
1.09
-45.10
-15.33
6.94
-0.22
0.98
-45.10
-15.33
6.94
-0.22
0.89
-45.10
-15.33
6.94
-0.22
0.80
-45.10
-15.33
6.94
-0.22
0.72
-24.60
-8.36
6.94
-0.12
0.65
0.00
0.00
6.94
0.00
0.59
0.00
0.00
6.94
0.00
0.53
404.57
137.51
3.47
3.96
3.60
(Rs/kWh)
339.30
115.33
6.94
1.66
3.42
Page 171

Determination of Generic Levellised Generation Tariff For The FY 2014-15

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Determination of Generic Levellised Generation Tariff For The FY 2014-15

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CENTRAL ELECTRICITY REGULATORY COMMISSION

1. Shri Gireesh B. Pradhan, Chairperson

Date of hearing: 11th March, 2014

Order in Petition No.SM/354/2013

5. The Commission issued Order proposing Determination of generic levellised generation

6. In response to the same, written comments /suggestions/objections have been received

M/s Rajasthan Biomass Power Developers Association

M/s Malwa Power Private Limited

M/s Punjab Biomass Power Limited

M/s IL&FS Energy Development Company Limited

M/s Himshakti Private Limited

M/s Bermaco Energy Limited

M/s Sterling Agro Industries Limited

M/s A2Z Maintenance & Engineering Services limited

M/s Indian Biomass Power Association

M/s Viaton Energy Private Limited.

M/s Green Planet Energy Private Limited

M/s DEE Piping Systems

M/s Shalivahana Green Energy Limited

M/s NSL Renewable Power Private Limited

M/s Indian Wind Turbine Manufacturers Association (IWTMA)

M/s Indian Wind Power Association (IWPA)

M/s JITF Urban Infra Structure Limited

M/s Mytrah Energy (India ) Private Limited

M/s Rudraksh Energy Limited

M/s Azure Power India Private Limited

M/s Tata Power Company Limited

M/s Federation of Indian Chambers of Commerce and Industry

M/s Chhattisgarh State Power Distribution Co. Ltd.

M/s Wind Independent Power Producers Association

M/s Welspun Energy Limited

M/s Association of Power Producers

M/s Acme Solar Energy Private Limited

M/s Association of Power Producers

M/s Moser Baer Engineering and Construction Limited

8. The commission has analysed the views/comments/suggestions of the stakeholders and

Analysis and Decision

Order in Petition No.SM/354/2013

B. Capital Cost indexation mechanism

Analysis and Decision

D. Following comments/suggestions received from stakeholders on normative

E. SMALL HYDRO PROJECTS (SHP)

Order in Petition No.SM/354/2013

Order in Petition No.SM/354/2013

Order in Petition No.SM/354/2013

F. WIND ENERGY PROJECTS

Order in Petition No.SM/354/2013

Capacity Utilisation factor (CUF)

Order in Petition No.SM/354/2013

Applicability of Tariff for Wind Energy Projects

Order in Petition No.SM/354/2013

Capacity Utilization Factor for wind

Order in Petition No.SM/354/2013

Forecasting and scheduling activities have led to increase in capital cost by Rs 35

Order in Petition No.SM/354/2013

Deemed generation benefit

Order in Petition No.SM/354/2013

Biomass Fuel cost for Rajasthan State

G. MUNICIPAL SOLID WASTE PROJECTS

Order in Petition No.SM/354/2013

Infra Structure Limited)

H. BIOMASS POWER PROJECTS

Separate norms for small biomass power plants