CERC

CENTRALELECTRICITYREGULATORYCOMMISSION
NEWDELHI
PetitionNo.256/2010(suomotu)
Coram:1.Dr.PramodDeo,Chairperson
2.ShriS.Jayaraman,Member
3.ShriV.S.Verma,Member
4.ShriM.DeenaDayalan,Member
Dateofhearing:19.10.2010
Dateoforder:09thNovember,2010
INTHEMATTEROF
Determination ofgeneric levellisedgeneration tariff underRegulation8 of the Central
Electricity Regulatory Commission (Terms and Conditions for Tariff determination from
Renewable Energy Sources) Regulations, 2009 and Central Electricity Regulatory Commission
(Terms and Conditions for Tariff determination from Renewable Energy Sources) (First
Amendment)Regulations,2010.
ORDER
1. The Central Electricity Regulatory Commission (Terms and Conditions for Tariff
determinationfromRenewableEnergySources)Regulations,2009,(hereinafterreferred
to as the RE Tariff Regulations) provide for terms and conditions and the procedure
for determination of tariff of the following categories of renewable energy generating
stations:
(a)WindPowerProject;
(b)SmallHydroProjects;
(c)BiomassPowerProjects;
(d)NonfossilfuelbasedcogenerationPlants;and
(e)SolarPhotoVoltaic(PV)andSolarThermalPowerProjects.
Page1
2. TheRegulationsempowerstheCommissiontodeterminethegenerictariffonthebasis
ofthesuomotupetition,fortheREtechnologiesforwhichnormshavebeenprovided
intheRegulations.GenericTariffisdifferentfromtheprojectspecifictariffforwhicha
projectdeveloperhastofilepetitionbeforethecommissionaspertheformatprovided
intheRETariffRegulations.Pertinently,projectspecifictariffhasbeenenvisagedforthe
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
technologiesonacasetocasebasis.
3. Clause (1) of Regulation 8 of the RE Tariff Regulations provides that the Commission
shalldeterminethegenerictariffonthebasisofsuomotupetitionatleastsixmonthsin
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
CommissionhasnotifiedtheRETariffRegulationson16.9.2009andsubsequentlyissued
two generic suomotu tariff orders, which were applicable for the renewable energy
projectstobecommissionedduringfirstyearofthecontrolperiod(i.e.FY200910)and
secondyearofthecontrolperiod(i.e.FY201011).TheCommission,induedischargeof
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 201112)
throughthisorder.
4. The Commission has made the following provision in Regulation 8 through the CERC
(Terms and Conditions for Tariff determination from Renewable Energy Sources) (First
Amendment)Regulations,2010,asunder:
(2)Notwithstandinganythingcontainedintheseregulations,
a)thegenerictariffdeterminedforSolarPVprojectsbasedonthecapital
costandothernormsapplicablefortheyear201011shallalsoapplyfor
suchprojectsduringtheyear201112;and
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b) the generic tariff determined for Solar thermal projects based on the
capitalcostandothernormsfortheyear201011shallalsoapplyforsuch
projectsduringtheyears201112and201213,
providedthat(i)thePowerPurchaseAgreementsinrespectofthe
SolarPVprojectsandSolarthermalprojectsasmentionedinthisclause
are signed on or before 31st March, 2011; and (ii) the entire capacity
coveredbythePowerPurchaseAgreementsiscommissionedonorbefore
31st March, 2012 in respect of Solar PV projects and on or before 31st
March,2013inrespectofSolarthermalprojects.
5. InpursuanceofFirstAmendmenttotheRETariffRegulations,theCommission,through
its suomotu Order (Petition No. 53/2010) based on the financial principles and
technologyspecificparameters,determinedtariffforFY201011andFY201112incase
ofsolarphotovoltaicpowerprojectsandforFY201011,FY201112andFY201213in
case of solar thermal power projects, subject to the condition that power purchase
agreement(PPA)forsuchSolarPVandSolarthermalpowerprojectsaresignedbefore
31.03.2011 and entire capacity is commissioned on or before 31.03.2012, in case of
solarPVprojectsandonorbeforeMarch31,2013incaseofthermalprojects.
6. AsspecifiedinRegulation6oftheRETariffRegulations,thebenchmarkcostforSolarPV
andSolarThermalmaybereviewedbytheCommissionannually.TheTarifffortheSolar
photovoltaic power projects and Solar thermal power projects for FY 201112, whose
PPAsaretobesignedafterMarch31,2011wouldbebasedonthebenchmarkcapital
costnormforSolarPVandSolarthermalprojectsfortheFY201112.
7. The Commission issued Order proposing the Determination of generic levellised

generationtariffforrenewableenergysources,applicableduringFY201112(Petition
No.
256/2010
(suomotu)
dated
15th
September,
2010
for
inviting
comments/suggestion/objectionsfromthestakeholders.
Page3
8. TheCommissionvideitspublicnoticeno.(PetitionNo.255256/2010(suomotu)dated
17thSeptember, 2010 invited comments from the various stakeholders. In response to
thesamewrittencomments/suggestionsreceivedfromfollowingstakeholders:
1.
2.
3.
4.
5.
6.
7.
M/sEverstoneInvestmentAdvisorsPvt.Ltd.
M/sBloombergNewEnergyFinance
M/sGujaratFlurochemicalsLimited
M/sChhattisgarhBiomassEnergyDevelopersAssociation(CBEDA)
M/sNSLRenewablePowerPvt.Ltd.
M/sGujaratUrjaVikasNigamLimited
AssamElectricityRegulatoryCommission(AERC)
9. Subsequently, a public hearing was held on 19th October, 2010 and following
stakeholdersexpressedtheirviews/suggestions/commentsinperson:
1. M/sAbengoaSolar
2. M/sACME
3. M/sTataBPSolar
4. M/sChhattisgarhBiomassEnergyDevelopersAssociation(CBEDA)
10. TheCommissionhasanalysedtheviews/comments/suggestionsofthestakeholdersand
theCommissionsdecisionsareasbelow;
A. WindEnergyProjects
I. CapitalCostofWindEnergyProjects
Comments
As per RETariff Regulations capitalcost is calculated excluding theEHV lines between
wind farm pooling substation and utility substation. However, the wind farms are
constrainedtoconstructthisline.(M/sEverstoneInvestmentAdvisorsPvt.Ltd.)
Ourrecentsurveyandanalysisdoneoncapitalcostsofwindprojectsrevealsthatthe
proposednormativecapitalcostsof`492.52lakh/MWforFY201112islowerthanthe
current capital costs observed in the market. Further, average capital cost of 133
projects,whichappliedforCDMbetweenJanuary2009andJuly2010,comestoaround
`557lakh/MW.(BloombergNewEnergyFinance)
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Revisednormativecapitalcostisstillnottrulyreflectiveofcurrentmarketpricewhich
are ruling upwards of ` 650 lakh/MW and requested to review the same in view of
vastly changed market conditions and substantial increase in the cost of machineries,
materials,equipment,transportationandlabour.(GujaratFlurochemicalsLimited)
AnalysisandDecision
TheRETariffRegulationsspecifiesthebasecapitalcostforFY200910.Thecapitalcost
forFY201112hasbeendeterminedbasedontheindexationformulaeasspecifiedin
the Regulation. Capital cost includes evacuation infrastructure up to interconnection
point.ThereviewofthebaseCapitalcostofWindEnergyProjectandconsiderationof
the cost of evacuation beyond the interconnection point is not the subject matter of
presentregulatoryprocesswhichhasbeeninitiatedfordeterminationofgenerictariff
forFY201112.
II.
O&MCostofWindEnergyProjects
Comments
ArecentsurveyrevealsthatmajorityofprojectdevelopersexpecttheO&Mcosts/MW
for wind projects to be higher than 1.5% of the total project cost as against the
normative O&M cost in the first year which translates into 1.47% of the capital of `
492.52lakh/MW.(BloombergNewEnergyFinance)
AnalysisandDecision
ThereviewofthebaseO&MExpensesofWindEnergyProjects,asspecifiedintheRE
tariff Regulation for the FY 200910, is not the subject matter of present regulatory
processwhichhasbeeninitiatedfordeterminationofgenerictariffforFY201112.
III.
CapacityUtilizationFactor(CUF)BasedonWindZone
Comments
TheWPDdataspecifiedintheRETariffRegulationsaremoregenericandnotpractical
enoughforimplementation.ItissuggestedthattheWindPowerDensity(WPD)dataat
50 m level as uploaded on the CWET website should be used as reference. (M/s
EverstoneInvestmentAdvisorsPvt.Ltd.)
AnalysisandDecision
Regulation 7 of the RE Tariff Regulation specifies CUF norms for the control period
specifiedfor4windzonesbasedontheannualmeanWindPowerDensity(WPD)tobe
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measuredat50meterhubheight.SaidRegulationfurtherprovidesthatforthepurpose
of classification of wind energy project into particular wind zone class, the Statewise
wind power density map prepared by Centre for Wind Energy Technology (CWET)
wouldbeconsidered.ThesameisalsoenclosedasScheduletotheRETariffRegulations.
ThecommentsreflectgapinunderstandingofRETariffRegulations.
B. BiomassBasedPowerProjects
I. CapitalCost
Comments
Project cost considered for the base year is unrealistic. Present project cost is in the
rangeof `500to525lakh/MWasagainstprojectedbenchmarkcapitalcostas `426.03
lakh/MWforFY201112.Powerevacuationcostshouldbeincludedintheprojectcost.
(M/sChhattisgarhBiomassEnergyDevelopersAssociation(CBEDA))
AnalysisandDecision
TheRETariffRegulationspecifiesthebasecapitalcostforFY200910.Withregardto
Capital Cost for Biomass Power Projects for FY201112, the Commission has specified
theCapitalCostIndexationformulaeunderRegulation35ofRETariffRegulations.The
reviewofthebaseprojectcostofBiomasspowerplantandconsiderationofthecostof
evacuationisbeyondtheinterconnectionpoint,arenotthesubjectmatterofpresent
regulatoryprocesswhichhasbeeninitiatedfordeterminationofgenerictariff.
II.
O&MCost
Comments
TheCommissionhasproposedtoconsideratO&MExpensesat `22.63lakh/MWwhich
is not sufficient and same may be set at ` 42 lakh/MW. (M/s Chhattisgarh Biomass
EnergyDevelopersAssociation(CBEDA))
AnalysisandDecision
TheRegulation39ofRETariffRegulationsprovidesthenormativeO&Mexpensesfor
biomassbasedprojectsfortheyear200910tobe `20.25lakh/MWandwhichshallbe
escalatedattherateof5.72%perannumoverthetariffperiodfordeterminationofthe
levellised tariff. Accordingly, the Commission has considered O&M cost norm for
biomasspoweras`22.63lakh/MWforFY201112.
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The review of the base O&M Expenses of Biomass Power Plant, as specified in the RE
tariff Regulation for the FY 200910, is not the subject matter of present regulatory
processwhichhasbeeninitiatedfordeterminationofgenerictariffforFY201112.
III.
StationHeatRate(SHR)
Comments
The actual SHR of the Biomass projects in operation in Andhra Pradesh is around
4300kCal/kWh due to quality of biomass fuel available and present technology. The
CommissionmayadoptSHRnormas4300kCal/kWhinsteadof3800kCal/kWh.(M/sNSL
RenewablePowerPvt.Ltd.)
AnalysisandDecision
SHRhasbeenspecifiedintheRETariffRegulationsbasedontheNationalaverageand
necessaryjustificationwasalreadygivenintheStatementofObjectsandReasonsissued
while notifying the RE Tariff Regulations. Change in Regulation at this time is not
envisaged.ReviewoftheSHRoftheBiomassPowerPlant,asspecifiedintheREtariff
RegulationfortheFY200910,isnotthesubjectmatterofpresentregulatoryprocess.
IV.
GrossCalorificValue(GCV)
Comments
GCV of biomass for other states is set at 3467 Kcal/Kg in the RE Tariff Regulation.
Accordingly CSERC has also considered the same in their Order dated 15.04.2010.
ChhattisgarhStateisdependingonRiceHuskfortheirbiomassfuelneeds.GCVofRice
huskatbestwouldbe3200Kcal/kgprovidedthereisnomoistureandforeignmatter.
However,GCVofricehusk,asreceivedbasis,isaround3100kCal/kg.GCVfortheState
may be considered as 3100 kCal/kg. (M/s Chhattisgarh Biomass Energy Developers
Association(CBEDA))
AnalysisandDecision
The review of the GCV of Biomass fuel power plant, as specified in the RE Tariff
Regulation, is not the subject matter of present regulatory process which has been
initiatedfordeterminationofgenerictariffforFY201112.
V.
SourcesofInformationonGCVofBiomass
Comments/Suggestions
IntheStatementofReasonsforCERCRETariffRegulationstheCommissionstatedthat
the weighted average calorific value of biomass fuel mix the CV of individual biomass
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have been considered as mentioned by Indian Institute of Science (IIS), Bangalore.

Association contacted IIS in this regard but was told that IIS doesnt maintain any
recordsofGCVofBiomassfuels.Associationrequestedtomakeamentionofsourceof
information regarding GCV of Biomass fuel either in regulation or in the Statement of
Reasons.(M/sChhattisgarhBiomassEnergyDevelopersAssociation(CBEDA))
AnalysisandDecision
Clause7.5oftheExplanatoryMemorandumissuedwhileinvitingcommentsonthedraft
Terms and Conditions for determination of Tariff for Renewable Energy SourcesMay
2009,spelloutthemethodologyforspecifyingstatewiseGCV.Further,calorificvalue
of different biomass fuel considered in the RE tariff Regulation is available on the
website of M/s Centre for Ecological Sciences, Indian Institute of Science Bangalore:
http://ces.iisc.ernet.in/energy/paper/alternative/calorific.html
VI.
SeparateGCV&BiomassPricefortheChhattisgarhState
Comments
Chhattisgarh has around 25 biomass based power project aggregating to around 200
MW.TheGCV&BiomassPricefortheStateshouldbebasedonthegroundrealitiesin
thestate.GroupinginOtherStatescategorydoesntreflectGCVandpriceofBiomass
available in the state of Chhattisgarh. (M/s Chhattisgarh Biomass Energy Developers
Association(CBEDA))
AnalysisandDecision
Regulations 43 & 44 of the RE Regulations specify the calorific value & fuel price of
biomass fuel(s) respectively for determination of tariff for the states like: Andhra
Pradesh, Haryana, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Tamil Nadu and
Uttar Pradesh. Remaining states of the country are covered in the category of Other
States. In order to specify separate category for the Chhattisgarh, the RE Tariff
Regulation would need to be reviewed. The review of RE Tariff Regulation is not the
subjectmatterofpresentregulatoryprocesswhichhasbeeninitiatedfordetermination
ofgenerictariffforFY201112.
VII.
PriceofBiomassFuel
Comments
TheCommissionhasadoptedtheequivalentheatvalueapproachforlandedcostofcoal
forthermalpowerstationsatrespectivestatestoarriveatthepriceofbiomasswhich
mightnotbeaccurate.However,thelandedcostofcoalatTPStendstobemuchlower
Page8
than the market price of coal. Since biomass prices vary from state to state and from
seasontoseasonitwouldbeappropriatetolettheAppropriateCommissiontodecide
thepriceoftheBiomassfromtimetotimebasedontheprevailingmarketpricesinthe
state.(M/sChhattisgarhBiomassEnergyDevelopersAssociation(CBEDA))
The biomass fuel priceproposed for Andhra Pradesh at ` 1460.75/MT for FY 201112,
however,ithasgoneupfrom ` 1600/MTto ` 2000/MTfromtheyear200809to2010
11.(M/sNSLRenewablePowerPvt.Ltd.)
AnalysisandDecision
Regulation 44 of the RE Tariff Regulations specifies the biomass fuel price applicable
during the period 200910 and also specifies fuel price indexation mechanism, in case
developer wishes to opt, for the remaining years of the control period. The review of
thebasefuelpriceofBiomassfortheFY200910isnotthesubjectmatterofpresent
regulatory process which has been initiated for determination of generic tariff for FY
201112.
VIII.
RateofInterestonLoanandInterestonWorkingCapital
Comments
Therateofinterestonlongtermloanshouldnotexceed11.5%,astheREtechnology
likesolarpowerareabletogetfinanceatsuchrate,sothatpowerfromtherenewable
sourceswillbemadeviableandburdenontheendconsumercanbereduced.Further,
submittedthattheinterestrateprevalentforworkingcapitalisintherangeof910%
andrequestedCommissiontoconsiderthesame.(M/sGujaratUrjaVikasNigamLimited
(GUVNL))
AnalysisandDecision
Clause(1)ofRegulation14oftheRETariffRegulationsprovidesthatforthepurposeof
computation of tariff, the normative interest rate shall be considered as average long
term prime lending rate (LTPLR) of State Bank of India (SBI) prevalent during the
previousyearplus150basispoints.Further,theClause(3)ofRegulation17oftheRE
Tariff Regulations provides that for the purpose of computation of tariff, Interest on
WorkingCapitalshallbeatinterestrateequivalenttoaverageStateBankofIndiashort
termPLRduringthepreviousyearplus100basispoints.
Since the SBI, with effect on 1.7.2010 replaced its Benchmark Prime Lending Rate
regime(11.75%inFY201011upto30.6.2010)bythenewregimeofBaseRate&itis
fixedat7.5%.SinceitisnotpossibletotakeaverageoftwodifferentRatesapplicablein
Page9
respectivemonthsofFY201011,theweightedaverageSBIprimelendingrateavailable
upto30.6.2010hasbeenconsideredforthedeterminationoftariff.
The review of Rate of Interest calculation methodology, as specified in the RE Tariff
Regulation, is not the subject matter of present regulatory process which has been
initiatedfordeterminationofgenerictariff.TheCommissionmayreviewthesaidnorms
whilerevisingtheRETariffRegulationforthenextcontrolperiod.
C. TariffforSolarPVPowerGeneration
Comments
IntheNEregionavailabilityofsolarenergyismuchlesscomparedtootherpartsofthe
country.TheCapacityUtilisationFactor(CUF)ofasolarprojectinAssamisbeing16%
lower than that in the most of the other parts of the country. The Commission may
kindlyconsiderthematteroffixingtariffforSolarpowergenerationbasedindifferential
costandCUFbasedonsitespecificconditions,asdoneincaseofmicrohydelandwind
powertariff.(AERC)
AnalysisandDecision
ThereviewofCUFasspecifiedintheRETariffRegulation,isnotthesubjectmatterof
presentregulatoryprocesswhichhasbeeninitiatedfordeterminationofgenerictariff.
D. TariffforSolarThermalPowerGeneration
Comments
I.
CUF
It is requested to consider the CUF for CSP at around 20% to 22% instead of 23%.
(ACME)
CUFshallbeconsideredas20.5%.(M/sAbengoaSolar)
II.
O&MCost
The O & Mcostshouldbe considered at morethan 2% ofinvestmentcost/year. (M/s
AbengoaSolar)
III. ReturnonEquity(ROE)
ItisrequestedtoconsidernewpretaxEquityIRRbaseduponchangedMATfortheFY
201011.(M/sACME)
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AnalysisandDecision
ThereviewofCUF,O&Mcost,ROEasspecifiedintheRETariffRegulation,isnotthe
subjectmatterofpresentregulatoryprocesswhichhasbeeninitiatedfordetermination
ofgenerictariff.
Thegenericlevellisedgenerationtariffforvariousrenewableenergytechnologies,forFY
201112
NormsforDeterminationofGenericLevellisedTariff
1. Thegenericlevellisedgenerationtariffforvariousrenewableenergytechnologiesother
thanSolar,for201112andforSolarPVSolarthermalprojectswhosePPAsignedafter
31stMarch2011arediscussedbelow:
USEFULLIFE
2. Subclause(y)ofclause(1)ofRegulation2oftheRERegulationsdefinesusefullifein
relation to a unit of a generating station (including evacuation system) to mean the
followingdurationfromthedateofcommercialoperationofsuchgenerationfacility:
RenewableEnergyProjects
Years
Windenergy
25
SmallHydro
35
Biomass
20
Nonfossilfuelcogeneration
20
SolarPV
25
SolarThermal
25
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CONTROLPERIOD
3. Regulation5oftheRERegulationsprovidesthatthecontrolperiodfordeterminationof
tariffforrenewableenergyprojects(REprojects)shallbethreeyears.Thefirstyearof
thecontrolperiodwasfromthedateofnotificationoftheRERegulationstill31.3.2010,
thesecondyearofthecontrolperiodshallbyFY201011andthirdyearofthecontrol
periodshallbyFY201112.TheProvisotothesaidregulationstipulatesthatthetariff
determinedfortheREprojectscommissionedduringthecontrolperiodshallcontinue
tobeapplicablefortheentiredurationofthetariffperiodasspecifiedinRegulation6of
theRERegulations.
TARIFFPERIOD
4. In terms of Regulation 6 of the RE Regulations, the tariff period in respect of the RE

projectsisasunder:
Years
Windenergy
13
SmallHydrobelow5MW
35
SmallHydro525MW
13
Biomass
13
13
SolarPVandSolarThermal
25
In terms of clauses (4) and (5) of the said regulation, the tariff period specified above
shall be reckoned from the date of commercial operation of the RE projects and the
tariffdeterminedundertheregulationsshallbeapplicableforthedurationofthetariff
period.
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TARIFFSTRUCTURE
5. Clause(1)ofRegulation9oftheRERegulationsstipulatesthatthetariffforREprojects
shallbesingleparttariffconsistingofthefollowingfixedcostcomponents:
(a)Returnonequity;
(b)Interestonloancapital;
(c)Depreciation;
(d)Interestonworkingcapital;
(e)Operationandmaintenanceexpenses;
For renewable energy technologies having fuel cost component, like biomass power
projectsandnonfossilfuelbasedcogeneration,singleparttariffwithtwocomponents,
fixedcostcomponentandfuelcostcomponent,istobedetermined.
TARIFFDESIGN
6. IntermsofRegulation10oftheRERegulations,thetariffdesignforrenewableenergy
generatingstationsisasunder:
(1)ThegenerictariffshallbedeterminedonlevellisedbasisfortheTariff
Period.
Provided that for renewable energy technologies having single
part tariff with two components, tariff shall be determined on levellised

basisconsideringtheyearofcommissioningoftheprojectforfixedcost
component while the fuel cost component shall be specified on year of
operationbasis.
(2) For the purpose of levellised tariff computation, the discount factor
equivalenttoweightedaveragecostofcapitalshallbeconsidered.
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(3)LevellisationshallbecarriedoutfortheusefullifeoftheRenewable
Energy while tariff shall be specified for the period equivalent to Tariff
Period.
LEVELLISEDTARIFF
7. Levellised Tariff is calculated by carrying out levellisation for useful life of each
technologyconsideringthediscountfactorfortimevalueofmoney.
DiscountFactor
Thediscountfactorconsideredforthispurposeisequaltotheweightedaveragecostof
the capital on the basis of normative debt: equity ratio (70:30) specified in the
Regulations.Consideringthenormativedebtequityratioandweightedaverageofthe
ratesforinterestandequitycomponent,thediscountfactoriscalculated.
InterestRateconsideredfortheloancomponent(i.e.70%)ofCapitalCostis13.25%(as
explainedlater).Forequitycomponent(i.e.30%)rateofReturnonEquity(ROE)forthe
firstten(10)yearsis19%andfor11thyearonwardtillusefullifeoftheREprojectthe
rate is 24%. Based on these rates, the weighted average of rate of ROE has been
calculatedwhichisaround22%(rangingfrom21.5%to22.5%dependingonusefullife
ofREtechnologies).
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The discount factor derived by this method for each technology is as shown in the following
table:
Non
fossilfuel
co
Wind
Details Energy
SmallHydro
Lessthan5 Between5
Other
Other
MW
MWto25
States
states
(Himachal
MW
(below (5MW
Pradesh,
(Himachal
5MW
Uttarakhan Pradesh,
dand
Uttarakhan
North
dand
Eastern
North
States)
Eastern
Solar
Biomas
generatio
Solar
Therma
PV
15.73%
15.73%
15.88%
15.88%
to25
MW)
States
Discoun
t Rate 15.88
(%)
16.05%
16.05%
16.05% 16.05%
CAPITALCOST
8. Regulation 12 of the RE 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 interconnection point. The
Commission has specified the normative capital cost, applicable for the first year of
controlperiodi.e.FY200910,forvariousREtechnologiesvizWindEnergy,SmallHydro
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Power,BiomassPower,NonFossilFuelbasedCogenerationSolarPVandSolarThermal
Projects.
Inordertodeterminethenormativecapitalcostfortheremainingyearsofthecontrol
period, the regulations stipulate the indexation mechanism, for Wind Energy, Small
Hydro Power, Biomass Power and NonFossil Fuel based Cogeneration. However, the
CapitalCostnormsforSolarPVandSolarThermalPowerProjectsshallbereviewedon
annualbasis.Theindexationmechanismshalltakeintoaccountadjustmentsincapital
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,
whichisreproducedbelow.
CC(n)=P&M(n)*(1+F1+F2+F3)
P&M(n)=P&M(0)*(1+d(n))
d(n)=[a*{(SI(n1)/SI(0))1}+b*{(EI(n1)/EI(0))1}]/(a+b)
Where,
CC(n)
th
=CapitalCostforn
year
P&M(n)=PlantandMachineryCostfornthyear
P&M(0)=PlantandMachineryCostforthebaseyear
Note:P&M(0)istobecomputedbydividingthebasecapitalcost(forthefirst
yearofthecontrolperiod)by(1+F1+F2+F3).FactorsF1,F2,F3foreachREtechnology
hasbeenspecifiedseparately,assummarizedinfollowingtable.
d(n)
=CapitalCostescalationfactorforyear(n)ofControlPeriod
SI(n1) =AverageWPISteelIndexprevalentforcalendaryear(n1)oftheControlPeriod
SI(0)
=AverageWPISteelIndexprevalentforcalendaryear(0)atthebeginningofthe
ControlPeriodi.e.January2008toDecember2008
EI(n1) =AverageWPIElectricalMachineryIndexprevalentforcalendaryear(n1)ofthe
ControlPeriod
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EI(0)
=AverageWPIElectricalandMachineryIndexprevalentforcalendaryear(0)at
thebeginningoftheControlPeriodi.e.January2008toDecember2008
a
=ConstanttobedeterminedbyCommissionfromtimetotime,
(forweightagetoSteelIndex)
=ConstanttobedeterminedbyCommissionfromtimetotime,
(forweightagetoElectricalMachineryIndex)
F1
=FactorforLandandCivilWorks
F2
=FactorforErectionandCommissioning
F3
=FactorforIDCandFinancingCost
The default values of the factors for various RE technologies as stipulated under the said RE
Regulations,issummarizedinthetablebelow;
Parameters
WindEnergy
SmallHydro
Projects
NonFossilFuel
BiomassPower
Based
Cogeneration
0.6
0.6
0.7
0.7
0.4
0.4
0.3
0.3
F1
0.08
0.16
0.10
0.10
F2
0.07
0.10
0.09
0.09
F3
0.10
0.14
0.14
0.14
TheCommissionhasreliedonthefollowingsourcesforrelevantinformationonvariousindices:
SourceforWPI(electrical&machineryandironandsteel),WPI(allcommodities),WPI
(Price of HSD): Office of Economic Advisor, Ministry of Commerce & Industry
(www.eaindustry.nic.in)
SourceforIRC(AverageAnnualInflationrateforindexedenergychargecomponentin
caseofcaptivecoalminesource):CERC(www.cercind.gov.in)
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TechnologyspecificcapitalcostofREprojectsisdiscussedhereinunder:
(A)
CapitalCostofWindEnergyforFY201112
9. Wind Power projects located at the wind sites having minimum annual Wind Power
Density(WPD)of200Watt/m2measuredathubheightof50metersandusingnewwind
turbine generators are eligible for tariff determination under the RE Regulations.
Regulation24providesthatthecapitalcostforwindenergyprojectshallincludewind
turbinegeneratorincludingitsauxiliaries,landcost,sitedevelopmentchargesandother
civil works, transportation charges, evacuation cost up to interconnection point,
financingchargesandIDC.
The Commission under Regulation 24 (2) has specified the normative capital cost for
wind energy projects as ` 515lakh/MW for FY 200910 which shall be linked to the
indexationmechanismspecifiedunderRegulation25oftheRETariffRegulations.Inline
with the indexation mechanism specified in Regulation 25 of the RE Regulations, the
Commission determined the normative capital cost of the Wind Energy Projects as `
467.13 lakh/MW for FY 201011 vide Order No. 53/2010 dated 26th February 2010. In
accordancewiththeabovereferredRegulation,thenormativecapitalcostoftheWind
energyProjectsshallbe `492.52lakh/MWforFY201112.Thedetailedcomputations
of the indexation mechanism and determination of the capital cost for FY 201112
thereof,hasbeenenclosedasAppendix1ofthisOrder.
(B) CapitalcostofSmallHydroProjectsforFY201112
10. SmallHydroProjectsforthepurposeoftheRERegulationscoverthoseprojectswhich
arelocatedatthesitesapprovedbytheStateNodalAgencies/StateGovernmentsusing
newplantandmachineryandwithinstalledpowerplantcapacitylowerthanorequalto
25MW.
Page18
11. The Commission under Regulation 28 (1) has specified the normative capital cost for
smallhydroprojectsforFY200910whichshallbelinkedtotheindexationmechanism
specifiedunderRegulation29oftheRERegulations.
ProjectSize
CapitalCost
(FY200910)
(`lakh/MW)
Below5MW
700
5MWto25MW
630
OtherStates
Below5MW
550
5MWto25MW
500
Region
HimachalPradesh,
UttarakhandandNorth
EasternStates
12. In line with the indexation mechanism, specified in Regulation 29 of the RE Tariff
Regulations,theCommissiondeterminedthenormativecapitalcostforFY201011for
SmallHydroProjects,videOrderNo.53/2010dated26thFebruary2010,asunder;
ProjectSize
CapitalCost
(FY201011)
(`lakh/MW)
Below5MW
634.94
5MWto25MW
571.44
OtherStates
Below5MW
498.88
5MWto25MW
453.53
Region
HimachalPradesh,
UttarakhandandNorth
EasternStates
Page19
13. In line with the indexation mechanism, specified in Regulation 29 of the RE Tariff
Regulations,thenormativecapitalcostforFY201112forSmallHydroProjectsshallbe
asunder;
CapitalCost
Region
ProjectSize
(FY201112)
(`lakh/MW)
HimachalPradesh,
Below5MW
669.42
5MWto25MW
602.48
OtherStates
Below5MW
525.97
5MWto25MW
478.16
UttarakhandandNorth
EasternStates
Thedetailedcomputationsoftheindexationmechanismandthedeterminationofthecapital
costforFY201112thereof,hasbeenenclosedasAppendix2ofthisOrder.
(C)CapitalCostofBiomassbasedPowerProjectsforFY201112
14. Biomass power project for the purpose of these regulations covers the projects using
new plant and machinery based on Rankine cycle technology application using water
cooledcondenserandbiomassfuelsourceswhereuseoffossilfuelislimitedto15%of
totalfuelconsumptiononannualbasis.
15. The Commission under Regulation 34 has specified the normative capital cost for the
biomass power projects based on Rankine cycle technology application using water
cooled condenser as ` 450 lakh/MW for FY 200910 which shall be linked to the
indexationmechanismspecifiedunderRegulation35oftheRETariffRegulations.Inline
with the indexation mechanism specified in Regulation 35 of the RE Regulations, the
Commission vide Order No. 53/2010 dated 26th February 2010 determined the
normativecapitalcostofthebiomasspowerprojectsbasedonRankinecycletechnology
Page20
application using water cooled condenser as ` 402.54lakh/MW for FY 201011. In

accordance to the above referred Regulation, the normative capital cost of biomass
power projects based on Rankine cycle technology application using water cooled
condensershall be ` 426.03 lakh/MW for FY 201112. Thedetailed calculations of the
indexationmechanismanddeterminationofthecapitalcostforFY201112thereof,has
beenenclosedasAppendix3ofthisOrder.
(D)CapitalCostofNonfossilfuelbasedCogenerationProjectsforFY201112
16. Nonfossilbasedcogenerationhasbeendefinedastheprocessinwhichmorethanone
formofenergyisproducedinasequentialmannerbyusingbiomass.AsperRegulation
4(4) of the RE Regulations, a project to qualify as the nonfossil based cogeneration
projectmustbeusingnewplantandmachinerywithtoppingcyclemodeofoperation
which uses the nonfossil fuel input for power generation and utilizes the thermal
energy generated for useful heat applications in other industrial activities
simultaneously,andwherethesumofusefulpoweroutputandhalfofusefulthermal
outputisgreaterthan45%oftheplantsenergyconsumptionduringtheseason.
17. The Commission under Regulation 47 has specified the normative capital cost for the
NonFossil Fuel Based Cogeneration Projects as ` 445 lakh/MW for FY 200910 which
shall be linked to the indexation mechanism specified under Regulation 48 of the RE
TariffRegulations.InlinewiththeindexationmechanismspecifiedinRegulation48of
theRERegulations,theCommissionvideOrderNo.53/2010dated26thFebruary2010
determinedthenormativecapitalcostoftheNonFossilFuelbasedCogenerationpower
projects as ` 398.07lakh/MW for FY 201011. In accordance to the above referred
Regulation, the normative capital cost of NonFossil Fuel based Cogeneration power
projects shall be ` 421.30 lakh/MW for FY 201112.The detailed computations of the
indexationmechanismanddeterminationofthecapitalcostforFY201112thereof,has
beenenclosedasAppendix4ofthisOrder.
Page21

(E)CapitalCostofSolarPVbasedPowerProjectsforFY201112
18. Solar Photo Voltaic (PV) power projects which directly convert solar energy into
electricityusingthecrystallinesiliconorthinfilmtechnologyoranyothertechnologyas
approvedbytheMinistryofNewandRenewableEnergyandareconnectedtothegrid
qualifyforthepurposeoftariffdeterminationundertheRERegulations.
19. AsperRegulation5,theCommissionhasreviewedthebenchmarkcapitalcostforSolar
PV power projects by the Order dated 15th September, 2010 in the Petition No.
255/2010anditshallbe`1442lakh/MWfortheFY201112.
(F)CapitalCostofSolarThermalbasedPowerProjectsforFY201112
20. In order to qualify for tariff determination under the RE Regulations, Solar Thermal
Power Project shall be based on concentrated solar power technologies with line
focusingorpointfocusingasmaybeapprovedbytheMinistryofNewandRenewable
Energy and which uses direct sunlight to generate sufficient heat to operate a
conventionalpowercycletogenerateelectricity.
21. AsperRegulation5,theCommissionhasreviewedthebenchmarkcapitalcostforSolar
ThermalPowerprojectsbytheOrderdated15thSeptember,2010inthePetitionNo.255
/2010anditshallbe`1500lakh/MWfortheFY201112.
Page22
22. Thecapitalcostforthesecondyear(FY201112)ofthecontrolperiodinrespectofthe
renewableenergypowergeneratingstationsissummarizedasunder:
(1)WindEnergy
CapitalCostNorm forFY
201112
(`lakh/MW)
492.52
(2)SmallHydro
(a) HimachalPradesh,UttarakhandandNorth
EasternStates(lessthan5MW)
(b) HimachalPradesh,UttarakhandandNorth
EasternStates(5MWto25MW)
(c) OtherStates(below5MW)
(d) OtherStates(5MWto25MW)
669.42
602.48
525.97
478.16
(3) Biomasspowerprojects
426.03
(4) Nonfossilfuelbasedcogenerationprojects
421.30
(5) SolarPVProjects
1442.00
(6) SolarThermalProjects
1500.00
DEBTEQUITYRATIO
23. Clause(1)ofRegulation13oftheRERegulationsprovidesthatthedebtequityratioof
70:30istobeconsideredfordeterminationofgenerictariffbasedonsuomotupetition.
Page23
24. Based on the debt equity ratio of 70:30, the debt and equity components of the
normativecapitalcostfordeterminationoftarifffortheREprojectshavebeenworked
outasunder:
Debt
(`lakh)
344.77
Equity
(`lakh)
147.76
468.59
200.83
421.73
180.74
368.18
157.79
OtherStates(5MWto25MW)
334.71
143.45
(3)Biomass
298.22
127.81
(4)Nonfossilfuelcogeneration
294.91
126.39
(5)SolarPV
1009.40
432.60
(6)SolarThermal
1050.00
450.00
(1)WindEnergy(forallzones)
(2)SmallHydro
HimachalPradesh,UttarakhandandNorth
EasternStates(below5MW)
HimachalPradesh,UttarakhandandNorth
EasternStates(5MWto25MW)
OtherStates(below5MW)
RETURNONEQUITY
25. Clause(1) of Regulation 16 of the RE Regulations providesthat the value base forthe
equityshallbe30%ofthecapitalcostforgenerictariffdetermination.Clause(2)ofthe
saidregulationstipulatesthenormativereturnonequityasunder:
(a)Pretax19%perannumforthefirst10years,and
(b)Pretax24%perannumfromthe11thyearonwards.
Page24
26. In accordance with the above regulations, return on equity has been worked out in
respectoftheREgeneratingtechnologiestakingthevaluebaseofequityas30%ofthe
capitalcostasunder:
SmallHydro
Details
Lessthan
5MW
(Himachal
Wind Pradesh,
Energy Uttarakha
ndand
North
Eastern
States)
Equity
opening (` in 147.76
lakh)
Return
on
Equity for the
19
first 10 years
(%)
Return
on
Equity after
24
first 10 years
(%)
Weighted
average rate
onROE(%)
22
Solar
PV
Solar
Therma
l
Between5
MWto25
MW
(Himachal
Pradesh,
Uttarakha
ndand
North
Eastern
States
Other
States
(below
5MW
Other
states
(5MW
to25
MW)
Biomas
s
200.83
157.79
157.79
143.45
127.81 126.39 432.60 450.00
19
19
19
19
19
19
19
19
24
24
24
24
24
24
24
24
22.57
22.57
22.57
21.50
22.57
Non
fossil
fuel
co
gener
ation
21.5
0
22
Page25
22
INTERESTONLOAN
27. Clause (1) of Regulation 14 of the RE Regulations provides that the loan tenure of 10
years is to be considered for the purpose of determination of tariff for RE projects.
Clause(2)ofthesaidregulationprovidesforcomputationoftherateofinterestonloan
asunder:
(a) The loans arrived at in the manner indicated above 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
normativeloan.
(b)Forthepurposeofcomputationoftariff,thenormativeinterestrateshallbe
considered as average long term prime lending rate (LTPLR) of State Bank of
India(SBI)prevalentduringthepreviousyearplus150basispoints.
(c)Notwithstandinganymoratoriumperiodavailedbythegeneratingcompany,
the repayment of loan shall be considered from the first year of commercial
operationoftheprojectandshallbeequaltotheannualdepreciationallowed.
28. It is to be noted that the State bank of India has, with effect on 1 July replaced its
Benchmark Prime Lending Rate, or BPLR, of 11.75% by the new regime of base rate
whichisfixedat7.5%.Therefore,theweightedaverageSBIprimelendingrateavailable
up to 30th June 2010 has been considered forthe determination of tariff, asshown in
thetablebelow:
Period
SBIPLR
1Apr2010to1July2010
11.75%
Avg.SBIPLR
11.75%
Source:StateBankofIndia(www.statebankofindia.com)
Page26

29. Intermsoftheabove,thecomputationsofinterestonloanfordeterminationoftariff
inrespectoftheREprojectstreatingthevaluebaseofloanas70%ofthecapitalcost
andtheweightedaverageofSBIprimelendingrateforthefinancialyear201112(i.e.
11.75%)plus150basispoints(equivalenttointerestrateof13.25%),areasunder:
Details
SmallHydro
Between
Lessthan
5MWto
Non
5MW(HP
25MW
fossil
,
Other
Other
Wind
Biomas
(HP,
fuelco
Uttarakha
States states(5
Energy
s
Uttarakha
generati
(below MWto25
nd&
nd&
on
MW)
North
5MW
North
Eastern
Eastern
States)
States
Grossloan
opening(` 344.77
inlakh)
Period of
repaymen
10
t
Rate of
interest
13.25%
(%)
468.59
421.73
368.18
334.71
10
10
10
10
13.25%
13.25%
13.25%
13.25%
298.22 294.91
10
10
13.25% 13.25%
Solar Solar
PV Therm
al
1009.
4
1050.0
10
10
13.25
%
13.25
%
DEPRECIATION
30. Regulation 15 of the RE Regulations provides for computation of depreciation in the

followingmanner:
(1)ThevaluebaseforthepurposeofdepreciationshallbetheCapitalCostoftheasset
admittedbytheCommission.TheSalvagevalueoftheassetshallbeconsideredas10%
and depreciation shall be allowed up to maximum of 90% of the Capital Cost of the
asset.
Page27
(2)DepreciationperannumshallbebasedonDifferentialDepreciationApproachover
loan tenure and period beyond loan tenure over useful life computed on Straight Line
Method.Thedepreciationrateforthefirst10yearsoftheTariffPeriodshallbe7%per
annumandtheremainingdepreciationshallbespreadovertheremainingusefullifeof
theprojectfrom11thyearonwards.
(3)Depreciationshallbechargeablefromthefirstyearofcommercialoperation.
Provided that in case of commercial operation of the asset for part of the year,
depreciationshallbechargedonproratabasis.
31. In accordance with theabove, therate of depreciation forthe first 10 years has been
considered as 7% and the rate of depreciation from the 11th year onwards has been
spreadoverthebalanceusefullifeoftheREprojectasunder:
Details
Wind
Energy
Small
Hydro
Biomass
Nonfossil
fuelco
generation
SolarPV
Solar
Thermal
UsefulLife(inyears)
25
35
20
20
25
25
7.00
7.00
7.00
7.00
7.00
7.00
1.33
0.80
2.00
2.00
1.33
1.33
Rate of depreciation
for10years(%)
Rate of depreciation
after first 10 years
(%)
INTERESTONWORKINGCAPITAL
32. Regulation 17 of the RE Regulations provides for the working capital requirements of
theREprojectsasunder:
(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
accordancewiththefollowing:
Page28

WindEnergy/SmallHydroPower/SolarPV/Solarthermal
(a)Operation&Maintenanceexpensesforonemonth;
(b) Receivables equivalent to 2 (Two) months of energy charges for sale of
electricitycalculatedonthenormativeCUF;
(c)Maintenance@15%ofoperationandmaintenanceexpenses
(2) The Working Capital requirement in respect of biomass power projects and
nonfossil fuel based cogeneration projects shall be computed in accordance
withthefollowingclause:
BiomassPowerandNonfossilfuelCogeneration
(a) FuelcostsforfourmonthsequivalenttonormativePLF;
(b)Operation&Maintenanceexpenseforonemonth;
(c) Receivables equivalent to 2 (Two) months of fixed and variable charges for
saleofelectricitycalculatedonthetargetPLF;
(d)Maintenancespare@15%ofoperationandmaintenanceexpenses
(3) Interest on Working Capital shall be at interest rate equivalent to average

StateBankofIndiashorttermPLRduringthepreviousyearplus100basispoints
33. Receivables equivalent to two months of actual fixed cost and variable cost, (as
applicable for biomass power and nonfossil fuel based cogeneration) have been
considered. As mentioned in the Para No. 34, interest rate considered as weighted
averageofSBIprimelendingrateforthefinancialyear201112(i.e.11.75%)plus100
basispoints(equivalenttointerestrateof12.75%).Theinterestonworkingcapitalhas
beenworkedoutasspecifiedbelowfordeterminationoftariffoftheREprojects:
Page29
Details
Wind
Energy
Small
Hydro
Biomass Nonfossil
fuelco
generatio
n
SolarPV
Solar
Thermal
15
15
15
15
15
15
(A)ForFixedcharges
(i) O&M
expenses
(month)
(ii)
Maintenance
spares (%) of O&M
expenses
(iii)
Receivables
(months)
(B)ForVariableCharges
Biomass/Bagasse stock
4
4
(months)
(C) Interest On Working
12.75
12.75
12.75
12.75
12.75
12.75
Capital(%)
Sourceforinterestonworkingcapital:StateBankofIndia(www.statebankofindia.com)
OPERATIONANDMAINTENANCEEXPENSES
34. Regulation18oftheRERegulationsprovidesforOperationandMaintenanceExpenses
(O&Mexpenses)inrespectofREprojectsasunder:
OperationandMaintenanceExpenses
(1) Operation and Maintenance or O&M expenses shall comprise repair and
maintenance (R&M), establishment including employee expenses, and
administrativeandgeneralexpenses.
(2) Operation and maintenance expenses shall be determined for the Tariff
Period based on normative O&M expenses specified by the Commission
subsequentlyintheseRegulationsforthefirstYearofControlPeriod.
(3) Normative O&M expenses allowed during first year of the Control Period
(i.e.FY 200910) under these Regulations shall be escalated at the rate of
5.72%perannumovertheTariffPeriod.
Page30
35. ThenormativeO&MexpensesforvariousREtechnologiesspecifiedundertherelevant
provisionsoftheRERegulationsareasunder:
(a) Wind Energy: Regulation 27 of RE Regulations provided that the normative O&M
expensesforthefirstyearofthecontrolperiod(i.e.200910)as`6.50lakhperMWand
shall be escalated at the rate of 5.72% per annum over the tariff period for
determinationofthelevellisedtariff.Accordingly,theCommissionhasconsideredO&M
costnormforwindenergyas`7.26lakh/MWforFY201112.
(b) Small Hydro: Regulation 32 of RE Regulations provided for the normative O& M
expensesforsmallhydroprojectsfortheyear200910 whichshallbeescalatedatthe
rateof5.72%perannumoverthetariffperiodfordeterminationofthelevellisedtariff.
Accordingly,thetablebelowpresentsthenormativeO&MExpensesconsideredbythe
CommissionforsmallhydropowerforFY201112,
Region
Himachal
Pradesh,
Uttarakhand and North
EasternStates
OtherStates
ProjectSize
Below5MW
5MWto25MW
O&Mexpenses
(`lakh/MW)
23.47
16.77
Below5MW
5MWto25MW
19.00
13.41
(c) Biomass: Regulation 39 of RE Regulations provided that the normative O& M

expensesforbiomassbasedprojectsfortheyear200910tobe `20.25lakh/MWand
which shall be escalated at the rate of 5.72% per annum over the tariff period for
determinationofthelevellisedtariff.Accordingly,theCommissionhasconsideredO&M
costnormforbiomasspoweras`22.63lakh/MWforFY201112.
(d)Nonfossilfuelcogeneration:AsperRegulation55ofRERegulations,thenormative
O&MExpensesfornonfossilfuelcogenerationprojectsfortheyear200910hasbeen
specified as ` 13.35 lakh per MW which shall be escalated at the rate of 5.72% per
annumoverthetariffperiodfordeterminationofthelevellisedtariff.Accordingly,the
CommissionhasconsideredO&Mcostnormfornonfossilfuelbasedcogenerationas`
14.92lakh/MWforFY201112.
Page31
(e) Solar PV: Regulation 59 of RE Regulations provided that the normative O&M
expensesforsolarPVprojectsfortheyear200910tobe`9.00lakh/MWwhichshallbe
escalatedattherateof5.72%perannumoverthetariffperiodfordeterminationofthe
levellisedtariff.Accordingly,O&MexpensenormforsolarPVpowerprojectas `10.06
lakh/MWforFY201112hasbeenconsidered.
(f) Solar Thermal: Regulation 63 of the RE Regulations specified the normative O&M
expensesforsolarthermalpowerprojectsduringthefirstyearofoperationas `13.00
lakh/MW to be escalated at the rate of 5.72% per annum over the tariff period for
determinationofthelevellisedtariff.Accordingly,O&Mexpensenormforsolarthermal
powerprojectas`14.53lakh/MWforFY201112,hasbeenconsidered.
36. The normative O&M expenses have been worked out as specified above for
determinationoftarifffortherenewableenergygeneratingstations.
CAPACITYUTILISATIONFACTOR
37. Regulations 26, 30, 58 and 62 of the RE Regulations specify the norms for Capacity
UtilizationFactor(CUF)inrespectofthewindenergyandsmallhydropowergenerating
stations as per the details given in the table below which has been considered for
determinationoftariff.
CUF
(A) WindEnergy
AnnualMeanWindPowerDensity(W/m2)
Windzone1(200250)
Windzone2(250300)
Windzone3(300400)
Windzone4(above400)
20%
23%
27%
30%
(B) SmallHydro
(i) Himachal Pradesh, Uttarakhand and North Eastern
States
(ii) OtherStates
(C) SolarPV
45%
30%
19%
(D) SolarThermal
23%
Page32
38. In terms of clause (2) of Regulation 26 of the RE Regulations, the annual mean wind
power density specified above is to be measured at 50 meter hubheight and as per
clause(3),forthepurposeofclassificationofwindenergyprojectintoparticularwind
zoneclass,theStatewisewindpowerdensitymappreparedbyCentreforWindEnergy
Technology(CWET)annexedasscheduletothesaidregulations,istobeconsidered.
PLANTLOADFACTOR(PLF)
39. Regulation 36 of the RE Regulations specifies the plant load factor for biomass based
renewable energy generating stations as given in the table below which has been
consideredfordeterminationoffixedchargescomponentoftariff.
PLF(%)
60%
70%
80%
Biomass
(a) Duringstabilization(6months)
(b) Duringremainingperiodofthefirstyear(afterstabilization)
(c) Secondyearonwards
40. Regulation 49 of the RE Regulations stipulates the plant load factor for nonfossil fuel
based cogeneration 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
specifiedintheregulationsisasunder:
States
UttarPradesh
andAndhra
Pradesh
TamilNaduand
Maharashtra
OtherStates
Operatingdays
PLF(%)
120days(crushing)+60days(offseason)=180
days
45%
days
days
60%
53%
Page33
AUXILIARYPOWERCONSUMPTION
41. Regulations 31, 37, 50 and 64 of the RE Regulations stipulate the auxiliary power
consumption factor asunder which has beenconsideredfor determination of tariff of
theREprojects:
AuxiliaryConsumptionfactor
SmallHydro
1.0%
Biomass
10.0%
8.5%
SolarThermal
10.0%
STATIONHEATRATE
42. The Station Heat Rates (SHR) specified under Regulations 38 and 51 of the RE
Regulationsforbiomassandnonfossilfuelbasedcogenerationprojectsareasunder:
Biomass
Nonfossilfuelcogeneration(forpower
component)
SHR
(kCal/kWh)
3800
3600
FUEL
(a) FuelMix
43. Clause (1) of Regulation 40 of the RE Regulations stipulates that the biomass based
power generating stations are to be designed in a way that it uses different types of
nonfossil fuels available within the vicinity of biomass power project such as crop
residues,agroindustrialresidues,forestresiduesetc.andotherbiomassfuelsasmaybe
Page34
approved by the Ministry of NonRenewable Energy (MNRE). Clause (2) of the said
regulationsstipulatesthatthebiomasspowergeneratingcompaniesaretoensurefuel
managementplantoensureadequateavailabilityoffueltomeettherespectiveproject
requirements.
(b)Useoffossilfuel
44. IntermsofRegulation41oftheRERegulations,theuseoffossilfuelistobelimitedto
theextentof15%oftotalfuelconsumptiononannualbasisandintermsofRegulation
42 of the said regulations the mechanism for monitoring the use of fossil fuel is as
under:
(1) The Project developer shall furnish a monthly fuel usage statement
and monthly fuel procurement statement duly certified by Chartered
Accountant to the beneficiary (with a copy to appropriate agency
appointedbytheCommissionforthepurposeofmonitoringthefossiland
nonfossil fuel consumption) for each month, along with the monthly
energybill.Thestatementshallcoverdetailssuchas;
(a) Quantityoffuel(intonnes)foreachfueltype(biomassfuelsandfossil
fuels)consumedandprocuredduringthemonthforpowergeneration
purposes;
(b) Cumulative quantity (in tonnes) of each fuel type consumed and
procuredtilltheendofthatmonthduringtheyear;
(c) Actual (gross and net) energy generation (denominated in units)
duringthemonth;
(d) Cumulativeactual(grossandnet)energygeneration(denominatedin
units)untiltheendofthatmonthduringtheyear;
(e) Openingfuelstockquantity(intonnes);
(f) Receiptoffuelquantity(intonnes)atthepowerplantsite;and
Page35
(g)Closingfuelstockquantity(intonnes)foreachfueltype(biomassfuels
andfossilfuels)availableatthepowerplantsite.
(2)Noncompliancewiththeconditionoffossilfuelusagebytheproject
developer, during any financial year, shall result in withdrawal of
applicability of tariff as per these Regulations for such biomass based
powerproject.
(b)
Calorificvalue
45. IntermsofRegulation43oftheRERegulationsthecalorificvalueofbiomassfuel(s)for
determinationoftariffisasunder:
State
CalorificValue(kCal/kg)
AndhraPradesh
3275
Haryana
3458
Maharashtra
3611
MadhyaPradesh
3612
Punjab
3368
Rajasthan
3689
TamilNadu
3300
UttarPradesh
3371
OtherStates
3467
46. IntermsofRegulation52ofthesaidregulations,thegrosscalorificvalueforbagasseto
beconsidered in case of nonfossilfuelcogeneration projects is 2250 kCal/kg and for
theuseofbiomassfuelsotherthanbagasse,thecalorificvalueasspecifiedaboveshall
beapplicable.
(c) Fuelcost
47. The Commission, in terms of Regulation 44 of the RE Regulations, has specified the
biomass fuel price applicable during the period 200910 and has specified fuel price
indexationmechanism,incasedeveloperwishestoopt,fortheremainingyearsofthe
controlperiod.ThedataforPdandWPI,asperregulations,latestfiguresforApril,2010
Page36
and April, 2009 corresponding to nth and (n1)th year has been considered while
calculating the fuel price indexation for biomass and also nonfossil fuel based co
generation power projects. The detailed computations of the fuel price indexation
mechanism and the determination of the biomass fuel prices for FY 201112 thereof,
has been enclosed as Appendix5 to this order. Accordingly, the biomass fuel price
applicableforFY201112isasunder:
State
AndhraPradesh
Haryana
Maharashtra
MadhyaPradesh
Punjab
Rajasthan
TamilNadu
UttarPradesh
OtherStates
Biomassprice
(`/MT)
1,460.75
2,434.21
2,022.14
1,458.50
2,348.88
2,045.72
2,046.84
1,704.39
2,017.65
48. TheCommission,intermsofRegulation53oftheRERegulations,hasspecifiedtheprice
ofbagasseapplicableduringtheperiod200910andhasspecifiedfuelpriceindexation
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
determinationofthebagassefuelpricesforFY201112thereof,hasbeenenclosedas
Appendix6ofthisOrder.Accordingly,thepriceofbagasse(fornonfossilfuelbasedco
generationprojects)applicableforFY201112shallbeasinthetablebelow,
State
AndhraPradesh
Haryana
Maharashtra
MadhyaPradesh
Punjab
TamilNadu
UttarPradesh
OtherStates
BagassePrice
(`/MT)
1,009.39
1,584.26
1,260.89
908.34
1,569.66
1,395.63
1,137.39
1,305.80
Page37
49. IncaseofBiomassPowerProjectsandnonfossilfuelbasedcogenerationprojects,the
variable component of tariff is calculated based on the fuel cost for FY 201112. This
variablecomponentwillchangeeachyearbasedonwhetheraRenewableEnergyPower
Projectdeveloperoptsforfuelpriceindexationorescalationfactorof5%.Hence,while
calculating the total applicable tariff for biomass based power projects, and nonfossil
fuel based co generation projects levellisation of only fixed component is considered
andthevariablecomponentforthefirstyearofoperation(i.e.201112)isspecified.
SubsidyorincentivebytheCentral/StateGovernment
50. Regulation22oftheRERegulationsprovidesasunder:
TheCommissionshalltakeintoconsiderationanyincentiveorsubsidyofferedby
the Central or State Government, including accelerated depreciation benefit if
availedbythegeneratingcompany,fortherenewableenergypowerplantswhile
determiningthetariffundertheseRegulations.
Providedthatthefollowingprinciplesshallbeconsideredforascertainingincome
taxbenefitonaccountofaccelerateddepreciation,ifavailed,forthepurposeof
tariffdetermination:
i.
Assessment of benefit shall be based on normative capital cost,
accelerateddepreciationrateasperrelevantprovisionsunderIncomeTax
Actandcorporateincometaxrate.
ii.
CapitalisationofREprojectsduringsecondhalfofthefiscalyear.
Per unit benefit shall be derived on levellised basis at discount factor

equivalenttoweightedaveragecostofcapital.
51. In terms of the above regulation, for the projects availing the benefit of accelerated
depreciation as per applicable Income tax rate @ 33.2175% (30% IT rate+ 7.5%
surcharge+3%Educationcess)hasbeenconsidered.Forthepurposeofdeterminingnet
depreciation benefits, depreciation @ 5.28% as per straight line method (Book
Page38
depreciationasperCompaniesAct,1956)hasbeencomparedwithdepreciationasper
Income Tax rate i.e. 80% of the written down value method and depreciation for the
firstyearhasbeencalculatedattherateof50%of80%i.e.40%,asprojectiscapitalized
duringthesecondhalfofthefinancialyearasperproviso(ii)toRegulation22.Income
taxbenefitsofaccelerateddepreciation,hasbeenworkedoutaspernormaltaxrateon
the net depreciation benefit. Per unit levellised accelerated depreciation benefit has
beencomputedconsideringtheweightedaveragecostofcapitalasdiscountfactor.
52. Inthelightofthediscussionmadeintheprecedingparagraphs,thegenerictariffsofthe
followingREprojectsforthefinancialyear201112havebeendeterminedasunder:
RETechnologiesasperCERCRETariffRegulationsNormsforFY201112
Particular
Levellised
Benefitof
TotalTariff Accelerated
(FY2011
Depreciation
12)
(ifavailed)
(`/kWh)
(`/kWh)
WindEnergy
NetLevellisedTariff
(uponadjustingfor
AcceleratedDepreciation
benefit)(ifavailed)
(`/kWh)
WindZone1(CUF20%)
5.33
0.80
4.53
WindZone2(CUF23%)
4.63
0.69
3.94
WindZone3(CUF27%)
3.95
0.59
3.36
WindZone4(CUF30%)
3.55
0.53
3.02
SmallHydroPowerProject
HP,UttarakhandandNE
States(Below5MW)
HP,UttarakhandandNE
States(5MWto25MW)
3.78
0.47
3.31
3.22
0.42
2.80
OtherStates(Below5MW)
4.49
0.55
3.94
OtherStates(5MWto25
MW)
3.84
0.50
3.34
Page39
State
Levellised
Variable
Fixed
Cost
Cost
(FY201112)
(`/kWh)
(`/kWh)
Applicable
TariffRate
(FY201112)
(`/kWh)
NetLevellised
Tariff
Benefitof
(uponadjusting
Accelerated
forAccelerated
Depreciation
Depreciation
(ifavailed)
benefit)(if
availed)
(`kWh)
(`/kWh)
BiomassPowerProject
Andhra
Pradesh
1.90
1.88
3.78
0.19
3.59
Haryana
1.99
2.97
4.97
0.19
4.77
Madhya
Pradesh
1.88
3.59
0.19
3.40
Maharashtra
1.94
2.36
4.31
0.19
4.11
Punjab
1.99
2.94
4.94
0.19
4.74
Rajasthan
1.94
2.34
4.28
0.19
4.09
TamilNadu
1.96
2.62
4.58
0.19
4.39
Uttar
Pradesh
1.92
Others
1.95
1.70
2.13
2.46
4.06
4.41
0.19
0.19
3.86
4.21
NonFossilFuelbasedCogeneration
Andhra
Pradesh
2.75
1.77
4.51
0.33
4.19
Haryana
2.44
2.77
5.21
0.28
4.94
Maharashtra
Madhya
Pradesh
2.14
2.20
4.34
0.25
4.10
2.34
1.59
3.93
0.28
3.65
Punjab
2.44
2.74
5.19
0.28
4.91
TamilNadu
Uttar
Pradesh
2.16
2.44
4.60
0.25
4.35
2.77
1.99
4.76
0.33
4.43
Others
2.40
2.28
4.68
0.28
4.41
Page40
State
Levellised
Variable
Fixed
Cost
Cost
(FY201112)
(`/kWh)
(`/kWh)
Applicable
TariffRate
(FY201112)
(`/kWh)
NetLevellised
Tariff
Benefitof
(uponadjusting
Accelerated
forAccelerated
Depreciation
Depreciation
(ifavailed)
benefit)(if
availed)
(`kWh)
(`/kWh)
SolarPowerProjectswhosePPAsignedonorbefore31stMarch2011
TariffdeterminedfortheyearFY1011shallbeapplicableduringtheFY201112
Particular
SolarPV
SolarThermal
LevellisedTotal
Tariff(FY2010
11)
BenefitofAccelerated
Depreciation
(ifavailed)
NetLevellisedTariff
(uponadjustingfor
Accelerated
Depreciationbenefit)
(ifavailed)
(`/kWh)
(`/kWh)
(`/kWh)
17.91
15.31
(2.96)
(2.46)
14.95
12.85
SolarPowerProjectswhosePPAsignedafter31stMarch2011
TariffdeterminedfortheyearFY201112shallbeapplicable
Particular
LevellisedTotal
Tariff(FY201112)
BenefitofAccelerated
Depreciation
(ifavailed)
NetLevellisedTariff
(uponadjustingfor
Accelerated
Depreciationbenefit)
(ifavailed)
(`/kWh)
(`/kWh)
(`/kWh)
SolarPV
15.39
(2.45)
12.94
SolarThermal
15.04
(2.34)
12.69
Page41
53. The detailed computations of the normative Capital Cost in respect of various RE
technologiesforFY201112,inlinewiththeindexationmechanismstipulatedunderRE
TariffRegulations,havebeenenclosedtothisOrderasperthedetailsgivenhereunder:
Sl.No.
A
B
C
D
E
F
WindPowerProjects
SmallHydroPowerProjects
BiomassPowerProjects
NonFossilFuelBasedCogeneration
BiomassFuelPriceforFY201112
BagasseFuelPriceFY201112
Appendix
Appendix1
Appendix2
Appendix3
Appendix4
Appendix5
Appendix6
54. ThedetailedcomputationsforthegenerictariffforvariousREtechnologieshavebeen
enclosedtothisOrderasperthedetailsgivenhereunder:
Sl.No.
Annexure
WindPowerProjects
WindZoneI
WindZoneII
WindZoneIII
WindZoneIV
Annexure1A
Annexure1B
Annexure1C
Annexure1D
SmallHydroPowerProjects
ProjectsLessthan5MWforHP,Uttarakhandand Annexure2A
NEStates
Projectsbetween5MWand25MWforHP,
Annexure2B
UttarakhandandNEStates
Projectslessthan5MWforotherStates
Annexure2C
Annexure2D
Projectsbetween5MWand25MWforother
States
BiomassPowerProjects
AndhraPradesh
Annexure3A
Haryana
Annexure3B
Maharashtra
Annexure3C
Punjab
Annexure3D
Page42
Sl.No.
Annexure
MadhyaPradesh
Annexure3E
Rajasthan
Annexure3F
UttarPradesh
Annexure3G
TamilNadu
Annexure3H
Other
Annexure3I
NonFossilFuelBasedCogeneration
Annexure4A
Annexure4B
Annexure4C
Annexure4D
Annexure4E
Annexure4F
Annexure4G
Annexure4H
AndhraPradesh
Haryana
Maharashtra
MadhyaPradesh
Punjab
UttarPradesh
TamilNadu
Other
SolarProjects
SolarPVProjects
SolarThermalProjects
Annexure5A
Annexure6A
55. Above generic tariff has been determined for the RE power projects (other than solar
projects) commissioned during the FY 201112. For the solar PV projects and for solar
thermalpowerprojectstariffdeterminedfortheyearFY201011shallbeapplicableduring
FY201112subjecttotheconditionsthatPPA(s)forsuchSolarPVandSolarthermalpower
projects are signed before 31.03.2011 and entire capacity shall be commissioned on or
before31.03.2012,incaseofsolarPVprojectsandonorbeforeMarch31,2013incaseof
thermalprojects.ForthesolarPVprojectsandforsolarthermalpowerprojectsforwhich
PPAissignedafter31.03.2011,tariffdeterminedinthisOrderfortheyearFY201112shall
beapplicable.
Sd/
Sd/
Sd/
Sd/
[M.DEENADAYALAN]
MEMBER
[V.S.VERMA]
MEMBER
[S.JAYARAMAN]
MEMBER
[Dr.PRAMODDEO]
CHAIRPERSON
Page43
Appendix1
CapitalcostofIndexationforWindPowerProjects(FY201112)
IndexationFormulation
CC(n)=P&M(n)*[1+F1+F2+F3]
dn=(a*(SIn1/SI0)1)+b*(EIn1/EI0)1))/(a+b)
P&M(n)=P&M(0)*(1+dn)
Variable
a
b
F1
F2
F3
Description
WeightageforSteelIndex
WeightageforElectricalMachineryIndex
FactorforLandandCivilWork
FactorforErectionandCommissioning
FactorforIDCandFinancing
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical&
Machinery
2010
2008
154.60
145.20
150.40
145.20
151.60
145.70
152.30
147.30
151.80
149.50
152.80
153.20
153.20
152.90
152.90
153.40
149.10
152.140
150.03
Value
0.6
0.4
0.08
0.07
0.1
Iron&Steel
2010
2008
293.40
279.90
294.80
281.70
293.90
337.70
327.40
359.00
343.50
353.30
357.60
362.60
362.80
360.40
355.10
329.20
321.30
310.600 338.38
Parameters
Description
Value
CC(0)(`lakh/MW)
CapitalCostfortheBaseYear
515.00
P&M(0)(`lakh/MW)
Plant&MachineryCostfortheBaseYear
412.000
dn
CapitalCostescalationFactor
4.365%
P&M(n)(`lakh/MW)
Plant&MachineryCostforthenthYear(FY201112)
394.02
CC(n)(`lakh/MW)
CapitalCostforthenthYear(FY201112)
492.52
SourceofWPI(Iron&SteelandElectricalandMachinery):OfficeofEconomicAdvisor,
MinistryofCommerceandIndustry(www.eaindustry.nic.in)
Page44
Appendix2
CapitalcostofIndexationforSmallHydroPowerProjects(FY201112)
CC(n)=P&M(n)*[1+F1+F2+F3]
P&M(n)=P&M(0)*(1+dn)
Variable
a
b
F1
F2
F3
Description
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical&
Machinery
2010
2008
154.60
145.20
150.40
145.20
151.60
145.70
152.30
147.30
151.80
149.50
152.80
153.20
153.20
152.90
152.90
153.40
149.10
152.140
150.03
Value
0.6
0.4
0.16
0.1
0.14
Iron&Steel
2010
2008
293.40 279.90
294.80 281.70
293.90 337.70
327.40 359.00
343.38 353.30
357.60
362.60
362.80
360.40
355.10
329.20
321.30
310.60 338.38
Description
Plant&MachineryCostforthe
BaseYear
Plant&MachineryCostforthe
nthYear(FY201112)
CapitalCostforthenthYear
(FY201112)
HP/Uttrakhand/NE
SHP<
5MW25
5MW
MW
700.00
630.00
OtherStates
SHP<
5MW
5MW
25MW
550.00
500.00
500.00
4.37%
450.00
4.37%
392.86
4.37%
357.14
4.37%
478.16
430.34
375.70
341.54
669.42
602.48
525.97
478.16
Page45
Appendix3
CapitalcostofIndexationforBiomassPowerProjects(FY201112)
CC(n)=P&M(n)*[1+F1+F2+F3]
P&M(n)=P&M(0)*(1+dn)
Variable
a
b
F1
F2
F3
Description
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Electrical&Machinery
2010
2008
154.60
145.20
150.40
145.20
151.60
145.70
152.30
147.30
151.80
149.50
152.80
153.20
153.20
152.90
152.90
153.40
149.10
152.14
150.03
Value
0.7
0.3
0.1
0.09
0.14
Iron&Steel
2010
2008
293.40 279.90
294.80 281.70
293.90 337.70
327.40 359.00
343.50 353.30
357.60
362.60
362.80
360.40
355.10
329.20
321.30
310.60 338.38
Parameters
Description
Value
CC(0)(`lakh/MW)
450.00
P&M(0)(`lakh/MW)
338.346
dn
5.326%
P&M(n)(`lakh/MW)
320.325
CC(n)(`lakh/MW)
426.03
SourceofWPI(Iron&SteelandElectricalandMachinery):OfficeofEconomicAdvisor,Ministryof
CommerceandIndustry(www.eaindustry.nic.in)
Page46
Appendix4
CapitalcostofIndexationforNonfossilfuelbasedCogenerationPowerProjects(FY201112)
CC(n)=P&M(n)*[1+F1+F2+F3]
P&M(n)=P&M(0)*(1+dn)
Variable
a
b
F1
F2
F3
Description
Month/Year
January
February
March
April
May
June
July
August
September
October
November
December
Average
Parameters
CC(0)(`lakh/MW)
P&M(0)(`lakh/MW)
dn
P&M(n)(`lakh/MW)
CC(n)(`lakh/MW)
Electrical&
Machinery
2010
2008
154.60
145.20
150.40
145.20
151.60
145.70
152.30
147.30
151.80
149.50
152.80
153.20
153.20
152.90
152.90
153.40
149.10
152.140
150.03
Value
0.7
0.3
0.1
0.09
0.14
Iron&Steel
2010
2008
293.40 279.90
294.80 281.70
293.90 337.70
327.40 359.00
343.50 353.30
357.60
362.60
362.80
360.40
355.10
329.20
321.30
310.60 338.38
Description
Value
445.00
334.59
5.33%
316.77
421.30
SourceofWPI(Iron&SteelandElectricalandMachinery):OfficeofEconomicAdvisor,Ministry
ofCommerceandIndustry(www.eaindustry.nic.in
Page47
Appendix5
BiomassFuelPriceacrossStatesforFY201112
AsperfuelpriceIndexMechanismoutlinedunderRegulation45
Pn=Pn1*{a*(WPIn/WPIn1)+b*(1+IRCn1)+c*(Pdn/Pdn1)}
Parameter
WPIn1
WPIn
IRCn1
Pdn1
Pdn
a
b
c
Value
231.5
253.7
8.66%
468.7
507.82
0.2
0.6
0.2
State
AndhraPradesh
Haryana
Maharashtra
MadhyaPradesh
Punjab
Rajasthan
TamilNadu
UttarPradesh
OtherStates
Biomassprice
(`/MT)
(201011)
1342.81
2237.67
1858.87
1340.74
2159.23
1880.55
1881.58
1566.78
1854.75
Biomassprice
(`/MT)
(201112)
1,460.75
2,434.21
2,022.14
1,458.50
2,348.88
2,045.72
2,046.84
1,704.39
2,017.65
Note:
TheCalculationWPIisbasedonthefiguresavailableonApril2010and2009asnth
and(n1)thyear.TheCalculationPd2010isbasedonweightedaveragepriceofHSD
availablefortheyear2010fromJanuarytoMay2010.ThecalculationofPd2009is
basedonweightedaveragepriceofHSDfortheyear2009.
SourceofWPIandWPI(PriceofHSD):OfficeofEconomicAdvisor,Ministryof
CommerceandIndustry(www.eaindustry.nic.in),
SourceofIRC:CERC(www.cercind.gov.in)
Page48
Appendix6
BagasseFuelPriceacrossStatesforFY201112
AsperfuelpriceIndexMechanismoutlinedunderRegulation54
Pn=Pn1*{a*(WPIn/WPIn1)+b*(1+IRCn1)+c*(Pdn/Pdn1)}
Parameter
WPIn1
WPIn
IRCn1
Pdn1
Pdn
a
b
c
Value
231.5
253.7
8.66%
468.7
507.82
0.2
0.6
0.2
State
Bagasseprice
(`/MT)
(201011)
Bagasseprice
(`/MT)
(201112)
AndhraPradesh
928
1,009.39
Haryana
1456
1,584.26
Maharashtra
1159
1,260.89
MadhyaPradesh
835
908.34
Punjab
1443
1,569.66
TamilNadu
1283
1,395.63
UttarPradesh
1046
1,137.39
OtherStates
1200
1,305.80
Note:
TheCalculationWPIisbasedonthefiguresavailableonApril2010and2009asnthand
(n1)thyear.TheCalculationPd2010isbasedonweightedaveragepriceofHSDavailablefor
theyear2010fromJanuarytoMay2010.ThecalculationofPd2009isbasedonweighted
averagepriceofHSDfortheyear2009.
SourceofWPIandWPI(PriceofHSD):OfficeofEconomicAdvisor,MinistryofCommerceand
Industrywww.eaindustry.nic.in),
SourceofIRC:CERC(www.cercind.gov.in)
Page49
A
Annexure:1A
A
Assumpttions: Wind Energy

E
Projec
cts
S. No.
Assumption
Head
Sub-He
ead
Sub-Hea d (2)
Unit
Wind Zone 1
1 Power Generattion
Capacity
Installed Power Genera
ation Capacity
Capac
city Utilization Fac
ctor
Deration Factor
Usefull Life
MW
%
%
Years
1
20%
2
0.0
00%
25
Powerr Plant Cost
Rs Lacs/MW
492
2.52
Tariff Period
P
Years
Debt
y
Equity
Total Debt
D
Amount
Total Equity
E
Amout
%
%
Rs Lacs
Rs Lacs
70%
7
3
30%
3
345
7.76
147
Loan Amount
A
Morato
orium Period
Repay
yment Period(incld
d Moratorium)
Interes
st Rate
Rs Lacs
years
years
%
344
4.77
0
10
13.2
25%
Equity
y amount
Return
n on Equity for firs
st 10 years
RoE Period
P
Return
n on Equity 11th year
y
onwards
Weigh
hted average of RO
OE
Discou
unt Rate
Rs Lacs
% p.a
Year
% p.a
147
7.76
19.0
00%
10
24.0
00%
22.0
00%
15.8
88%
Incom
me Tax
MAT Rate
R
(for first 10 years)
y
80 IA benefits
%
%
Yes/No
Depreciation Rate for firrst 10 years

Depreciation Rate 11th year onwards
Years for 7% rate
%
%
2 Project Cost
Capital Cost/MW
S
of Fund
d
3 Sources
13
Debt: Equity
Debt Component
Equity Compon
nent
4 Financial Assum
mptions
ptions
Fiscal Assump
Depreciation
33.217
75%
19.930
05%
Yes
0.0%
00%
7.0
1.3
33%
10
W
Capita l
5 Working
For Fixed Charrges
O&M Charges
S
(% of O&M exepenses))
Maintenance Spare
Receivables forr Debtors
For Variable Ch
harges
Interest On Wo
orking Capital
6 Operation & Ma intenance

Y09-10)
power plant (FY
power plant (FY
Y11-12)
Total O & M Ex
xpenses Escalatio
on
Months
Months
%
Rs Lakh
%
1
15%
1
2
12.7
75%
6.5
7.26
7
5.7
72%
Page50
Determination of Tariff Component

1
Units Generation
Installed Capacity
Gross/Net Generation
Fixed Cost
O&M Expenses
Depreciation
Interest on term loan
Interest on working Capital
Return on Equity
Total Fixed Cost
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Year--->
1
1
1.75
2
1
1.75
3
1
1.75
4
1
1.75
5
1
1.75
6
1
1.75
7
1
1.75
8
1
1.75
9
1
1.75
10
1
1.75
11
1
1.75
12
1
1.75
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
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
7.26
34.48
43.40
2.68
28.07
115.89
2
7.68
34.48
38.83
2.60
28.07
111.66
3
8.12
34.48
34.26
2.53
28.07
107.46
4
8.58
34.48
29.69
2.45
28.07
103.28
5
9.08
34.48
25.12
2.38
28.07
99.13
6
9.59
34.48
20.56
2.30
28.07
95.01
7
10.14
34.48
15.99
2.23
28.07
90.92
8
10.72
34.48
11.42
2.16
28.07
86.86
9
11.34
34.48
6.85
2.10
28.07
82.84
10
11.99
34.48
2.28
2.03
28.07
78.85
11
12.67
6.57
0.00
1.57
35.46
56.27
12
13.40
6.57
0.00
1.61
35.46
57.03
13
14.16
6.57
0.00
1.65
35.46
57.84
14
14.97
6.57
0.00
1.69
35.46
58.69
15
15.83
6.57
0.00
1.74
35.46
59.59
16
16.73
6.57
0.00
1.78
35.46
60.55
17
17.69
6.57
0.00
1.83
35.46
61.55
18
18.70
6.57
0.00
1.89
35.46
62.62
19
19.77
6.57
0.00
1.94
35.46
63.74
20
20.90
6.57
0.00
2.00
35.46
64.93
21
22.10
6.57
0.00
2.06
35.46
66.19
22
23.36
6.57
0.00
2.13
35.46
67.52
23
24.70
6.57
0.00
2.20
35.46
68.93
24
26.11
6.57
0.00
2.27
35.46
70.41
25
27.61
6.57
0.00
2.35
35.46
71.99
1
0.41
1.97
2.48
0.15
1.60
6.61
2
0.44
1.97
2.22
0.15
1.60
6.37
3
0.46
1.97
1.96
0.14
1.60
6.13
4
0.49
1.97
1.69
0.14
1.60
5.89
5
0.52
1.97
1.43
0.14
1.60
5.66
6
0.55
1.97
1.17
0.13
1.60
5.42
7
0.58
1.97
0.91
0.13
1.60
5.19
8
0.61
1.97
0.65
0.12
1.60
4.96
9
0.65
1.97
0.39
0.12
1.60
4.73
10
0.68
1.97
0.13
0.12
1.60
4.50
11
0.72
0.37
0.00
0.09
2.02
3.21
12
0.76
0.37
0.00
0.09
2.02
3.26
13
0.81
0.37
0.00
0.09
2.02
3.30
14
0.85
0.37
0.00
0.10
2.02
3.35
15
0.90
0.37
0.00
0.10
2.02
3.40
16
0.96
0.37
0.00
0.10
2.02
3.46
17
1.01
0.37
0.00
0.10
2.02
3.51
18
1.07
0.37
0.00
0.11
2.02
3.57
19
1.13
0.37
0.00
0.11
2.02
3.64
20
1.19
0.37
0.00
0.11
2.02
3.71
21
1.26
0.37
0.00
0.12
2.02
3.78
22
1.33
0.37
0.00
0.12
2.02
3.85
23
1.41
0.37
0.00
0.13
2.02
3.93
24
1.49
0.37
0.00
0.13
2.02
4.02
25
1.58
0.37
0.00
0.13
2.02
4.11
Levallised tariff corresponding to Useful life

Per Unit Cost of Generation
Unit
Levellised
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Int. on working capital
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
5.33
Levellised
Discount Factor
Levellised Tariff
0.863
Unit
MW
MU
5.33
0.863
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Rs/Unit
Page51
Determination of Accelerated Depreciation for Wind Power Projects

Depreciation amount
90%
Book Depreciation rate

Tax Depreciation rate
Income Tax (MAT)

Income Tax (Normal Rates)
Capital Cost
19.9305%
33.2175%
5.28%
80%
492.5
Years
----------------->
Book Depreciation
Book Depreciation
Accelerated Depreciation
Opening
Allowed during the year
Closing
1
2.64%
Rs lakh
13.00
%
%
%
Accelrated Deprn.
Net Depreciation Benefit
Tax Benefit
Energy generation
Levellised benefit
100%
40%
Rs lakh
Rs lakh
Rs lakh
Unit
%
MU
60%
197.01
184.01
3
5.28%
4
5.28%
5
5.28%
6
5.28%
7
5.28%
8
5.28%
9
5.28%
10
5.28%
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
60%
48.00%
12%
9.60%
2%
1.92%
0%
0.38%
0%
0.08%
0%
0.02%
0%
0.00%
0%
0.00%
0%
0.00%
12%
2.40%
0.48%
0.10%
0.02%
0.00%
0.00%
0.00%
0.00%
236.41
47.28
9.46
1.89
0.38
0.08
0.02
0.00
0.00
210.41
21.28
-16.55
-24.11
-25.63
-25.93
-25.99
-26.00
-26.00
61.12
0.88
69.89
1.75
7.07
1.75
-5.50
1.75
-8.01
1.75
-8.51
1.75
-8.61
1.75
-8.63
1.75
-8.64
1.75
-8.64
1.75
1.00
0.93
0.93
0.80
0.80
0.69
0.69
0.60
0.60
0.52
0.52
0.44
0.44
0.38
0.38
0.33
0.33
0.29
0.29
Discounting Factor
0.80
2
5.28%
Rs/Unit
11
5.28%
12
5.28%
13
5.28%
14
5.28%
15
5.28%
16
5.28%
17
5.28%
18
2.88%
19
0.00%
20
0.00%
26.01
26.01
26.01
26.01
26.01
26.01
14.18
0.00
0.00
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-26.01
-26.01
-26.01
-26.01
-26.01
-26.01
-14.18
0.00
0.00
-8.64
1.75
-8.64
1.75
-8.64
1.75
-8.64
1.75
-8.64
1.75
-8.64
1.75
-4.71
1.75
0.00
1.75
0.00
1.75
0.21
0.21
0.18
0.18
0.16
0.16
0.14
0.14
0.12
0.12
0.10
0.10
0.09
0.09
0.08
0.08
0.07
0.07
26.01
0.00
-26.01
-8.64
1.75
0.25
0.25
Page52
Annexure:1B
Assumptions: Wind Energy Projects

S. No.
Assumption
Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone 2
1 Power Generation
Capacity
Installed Power Generation Capacity
Capacity Utilization Factor
Deration Factor
Useful Life
MW
%
%
Years
1
23%
0.00%
25
Power Plant Cost
Rs Lacs/MW
492.52
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
345
147.76
Loan Amount
Moratorium Period
Repayment Period(incld Moratorium)
Interest Rate
Rs Lacs
years
years
%
344.77
0
10
13.25%
Equity amount
Return on Equity for first 10 years
RoE Period
Return on Equity 11th year onwards
Weighted average of ROE
Discount Rate
Rs Lacs
% p.a
Year
% p.a
147.76
19.00%
10
24.00%
22.00%
15.88%
Income Tax
MAT Rate (for first 10 years)
80 IA benefits
%
%
Yes/No
Depreciation Rate for first 10 years

Years for 7% rate
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
4 Financial Assumptions
Fiscal Assumptions
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
1.33%
10
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

power plant (FY09-10)
Total O & M Expenses Escalation
Months
Months
%
Rs Lakh
%
1
15%
2
12.75%
6.5
7.26
5.72%
Page53
1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
Unit
Rs lakh
Rs lakh
Rs lakh
Rs lakh
Rs lakh
Rs lakh
Year--->
Levellised Tariff
4.63
1
7.26
34.48
43.40
2.68
28.07
115.89

Unit
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
Levellised
Discount Factor
1
1
2.01
Levellised
4.63
1
0.36
1.71
2.15
0.13
1.39
5.75
0.863
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
2
1
2.01
3
1
2.01
4
1
2.01
5
1
2.01
6
1
2.01
7
1
2.01
8
1
2.01
9
1
2.01
10
1
2.01
11
1
2.01
12
1
2.01
13
1
2.01
2
7.68
34.48
38.83
2.60
28.07
111.66
3
8.12
34.48
34.26
2.53
28.07
107.46
4
8.58
34.48
29.69
2.45
28.07
103.28
5
9.08
34.48
25.12
2.38
28.07
99.13
6
9.59
34.48
20.56
2.30
28.07
95.01
7
10.14
34.48
15.99
2.23
28.07
90.92
8
10.72
34.48
11.42
2.16
28.07
86.86
9
11.34
34.48
6.85
2.10
28.07
82.84
10
11.99
34.48
2.28
2.03
28.07
78.85
11
12.67
6.57
0.00
1.57
35.46
56.27
12
13.40
6.57
0.00
1.61
35.46
57.03
13
14.16
6.57
0.00
1.65
35.46
57.84
2
0.38
1.71
1.93
0.13
1.39
5.54
3
0.40
1.71
1.70
0.13
1.39
5.33
4
0.43
1.71
1.47
0.12
1.39
5.13
5
0.45
1.71
1.25
0.12
1.39
4.92
6
0.48
1.71
1.02
0.11
1.39
4.72
7
0.50
1.71
0.79
0.11
1.39
4.51
8
0.53
1.71
0.57
0.11
1.39
4.31
9
0.56
1.71
0.34
0.10
1.39
4.11
10
0.59
1.71
0.11
0.10
1.39
3.91
11
0.63
0.33
0.00
0.08
1.76
2.79
12
0.66
0.33
0.00
0.08
1.76
2.83
13
0.70
0.33
0.00
0.08
1.76
2.87
0.863
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
14
1
2.01
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
15
1
2.01
16
1
2.01
17
1
2.01
18
1
2.01
19
1
2.01
20
1
2.01
21
1
2.01
22
1
2.01
23
1
2.01
24
1
2.01
25
1
2.01
14
14.97
6.57
0.00
1.69
35.46
58.69
15
15.83
6.57
0.00
1.74
35.46
59.59
16
16.73
6.57
0.00
1.78
35.46
60.55
17
17.69
6.57
0.00
1.83
35.46
61.55
18
18.70
6.57
0.00
1.89
35.46
62.62
19
19.77
6.57
0.00
1.94
35.46
63.74
20
20.90
6.57
0.00
2.00
35.46
64.93
21
22.10
6.57
0.00
2.06
35.46
66.19
22
23.36
6.57
0.00
2.13
35.46
67.52
23
24.70
6.57
0.00
2.20
35.46
68.93
24
26.11
6.57
0.00
2.27
35.46
70.41
25
27.61
6.57
0.00
2.35
35.46
71.99
14
0.74
0.33
0.00
0.08
1.76
2.91
15
0.79
0.33
0.00
0.09
1.76
2.96
16
0.83
0.33
0.00
0.09
1.76
3.01
17
0.88
0.33
0.00
0.09
1.76
3.06
18
0.93
0.33
0.00
0.09
1.76
3.11
19
0.98
0.33
0.00
0.10
1.76
3.16
20
1.04
0.33
0.00
0.10
1.76
3.22
21
1.10
0.33
0.00
0.10
1.76
3.29
22
1.16
0.33
0.00
0.11
1.76
3.35
23
1.23
0.33
0.00
0.11
1.76
3.42
24
1.30
0.33
0.00
0.11
1.76
3.49
25
1.37
0.33
0.00
0.12
1.76
3.57
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Rs/Unit
Page54

Depreciation amount
90%

Income Tax (MAT)

Capital Cost
19.9305%
33.2175%
5.28%
80%
492.5
Years
----------------->
Book Depreciation
Book Depreciation
Opening
Closing
1
2.64%
Rs lakh
13.00
%
%
%
Accelrated Deprn.
Tax Benefit
Energy generation
Levellised benefit
100%
40%
Rs lakh
Rs lakh
Rs lakh
Unit
%
MU
60%
197.01
184.01
3
5.28%
4
5.28%
5
5.28%
6
5.28%
7
5.28%
8
5.28%
9
5.28%
10
5.28%
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
60%
48.00%
12%
9.60%
2%
1.92%
0%
0.38%
0%
0.08%
0%
0.02%
0%
0.00%
0%
0.00%
0%
0.00%
12%
2.40%
0.48%
0.10%
0.02%
0.00%
0.00%
0.00%
0.00%
236.41
47.28
9.46
1.89
0.38
0.08
0.02
0.00
0.00
210.41
21.28
-16.55
-24.11
-25.63
-25.93
-25.99
-26.00
-26.00
61.12
1.01
69.89
2.01
7.07
2.01
-5.50
2.01
-8.01
2.01
-8.51
2.01
-8.61
2.01
-8.63
2.01
-8.64
2.01
-8.64
2.01
1.00
0.93
0.93
0.80
0.80
0.69
0.69
0.60
0.60
0.52
0.52
0.44
0.44
0.38
0.38
0.33
0.33
0.29
0.29
Discounting Factor
0.69
2
5.28%
Rs/Unit
11
5.28%
12
5.28%
13
5.28%
14
5.28%
15
5.28%
16
5.28%
17
5.28%
18
2.88%
19
0.00%
20
0.00%
26.01
26.01
26.01
26.01
26.01
26.01
14.18
0.00
0.00
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-26.01
-26.01
-26.01
-26.01
-26.01
-26.01
-14.18
0.00
0.00
-8.64
2.01
-8.64
2.01
-8.64
2.01
-8.64
2.01
-8.64
2.01
-8.64
2.01
-4.71
2.01
0.00
2.01
0.00
2.01
0.21
0.21
0.18
0.18
0.16
0.16
0.14
0.14
0.12
0.12
0.10
0.10
0.09
0.09
0.08
0.08
0.07
0.07
26.01
0.00
-26.01
-8.64
2.01
0.25
0.25
Page55
Annexure:1C

S. No.
Assumption
Head
Sub-Head
Unit
Sub-Head (2)
Wind Zone 3
1 Power Generation
Capacity
2 Project Cost
Capital Cost/MW

Deration Factor
Useful Life
MW
%
%
Years
1
27%
0.00%
25
Power Plant Cost
Rs Lacs/MW
492.52
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
345
147.76
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
344.77
0
10
13.25%
Equity amount
RoE Period
Discount Rate
Rs Lacs
% p.a
Year
% p.a
147.76
19.00%
10
24.00%
22.00%
15.88%
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
1.33%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare

Months
Months
%
Rs lakh
%
1
15%
2
12.75%
6.5
7.26
5.72%
Page56

1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Year--->
1
1
2.37
2
1
2.37
3
1
2.37
4
1
2.37
5
1
2.37
6
1
2.37
7
1
2.37
8
1
2.37
9
1
2.37
10
1
2.37
11
1
2.37
12
1
2.37
13
1
2.37
14
1
2.37
15
1
2.37
16
1
2.37
17
1
2.37
18
1
2.37
19
1
2.37
20
1
2.37
21
1
2.37
22
1
2.37
23
1
2.37
24
1
2.37
25
1
2.37
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
7.26
34.48
43.40
2.68
28.07
115.89
2
7.68
34.48
38.83
2.60
28.07
111.66
3
8.12
34.48
34.26
2.53
28.07
107.46
4
8.58
34.48
29.69
2.45
28.07
103.28
5
9.08
34.48
25.12
2.38
28.07
99.13
6
9.59
34.48
20.56
2.30
28.07
95.01
7
10.14
34.48
15.99
2.23
28.07
90.92
8
10.72
34.48
11.42
2.16
28.07
86.86
9
11.34
34.48
6.85
2.10
28.07
82.84
10
11.99
34.48
2.28
2.03
28.07
78.85
11
12.67
6.57
0.00
1.57
35.46
56.27
12
13.40
6.57
0.00
1.61
35.46
57.03
13
14.16
6.57
0.00
1.65
35.46
57.84
14
14.97
6.57
0.00
1.69
35.46
58.69
15
15.83
6.57
0.00
1.74
35.46
59.59
16
16.73
6.57
0.00
1.78
35.46
60.55
17
17.69
6.57
0.00
1.83
35.46
61.55
18
18.70
6.57
0.00
1.89
35.46
62.62
19
19.77
6.57
0.00
1.94
35.46
63.74
20
20.90
6.57
0.00
2.00
35.46
64.93
21
22.10
6.57
0.00
2.06
35.46
66.19
22
23.36
6.57
0.00
2.13
35.46
67.52
23
24.70
6.57
0.00
2.20
35.46
68.93
24
26.11
6.57
0.00
2.27
35.46
70.41
25
27.61
6.57
0.00
2.35
35.46
71.99
1
0.31
1.46
1.83
0.11
1.19
4.90
2
0.32
1.46
1.64
0.11
1.19
4.72
3
0.34
1.46
1.45
0.11
1.19
4.54
4
0.36
1.46
1.26
0.10
1.19
4.37
5
0.38
1.46
1.06
0.10
1.19
4.19
6
0.41
1.46
0.87
0.10
1.19
4.02
7
0.43
1.46
0.68
0.09
1.19
3.84
8
0.45
1.46
0.48
0.09
1.19
3.67
9
0.48
1.46
0.29
0.09
1.19
3.50
10
0.51
1.46
0.10
0.09
1.19
3.33
11
0.54
0.28
0.00
0.07
1.50
2.38
12
0.57
0.28
0.00
0.07
1.50
2.41
13
0.60
0.28
0.00
0.07
1.50
2.45
14
0.63
0.28
0.00
0.07
1.50
2.48
15
0.67
0.28
0.00
0.07
1.50
2.52
16
0.71
0.28
0.00
0.08
1.50
2.56
17
0.75
0.28
0.00
0.08
1.50
2.60
18
0.79
0.28
0.00
0.08
1.50
2.65
19
0.84
0.28
0.00
0.08
1.50
2.70
20
0.88
0.28
0.00
0.08
1.50
2.75
21
0.93
0.28
0.00
0.09
1.50
2.80
22
0.99
0.28
0.00
0.09
1.50
2.85
23
1.04
0.28
0.00
0.09
1.50
2.91
24
1.10
0.28
0.00
0.10
1.50
2.98
25
1.17
0.28
0.00
0.10
1.50
3.04

Unit
Levellised
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
3.95
Levellised
Discount Factor
Levellised Tariff
0.863
Unit
MW
MU
3.95
0.863
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Rs/Unit
Page57

Depreciation amount
90%

Income Tax (MAT)

Capital Cost
19.9305%
33.2175%
5.28%
80%
492.5
Years
----------------->
Book Depreciation
Book Depreciation
Opening
Closing
1
2.64%
Rs lakh
13.00
%
%
%
Accelrated Deprn.
Tax Benefit
Energy generation
Levellised benefit
100%
40%
Rs lakh
Rs lakh
Rs lakh
Unit
%
MU
60%
197.01
184.01
3
5.28%
4
5.28%
5
5.28%
6
5.28%
7
5.28%
8
5.28%
9
5.28%
10
5.28%
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
26.01
60%
48.00%
12%
9.60%
2%
1.92%
0%
0.38%
0%
0.08%
0%
0.02%
0%
0.00%
0%
0.00%
0%
0.00%
12%
2.40%
0.48%
0.10%
0.02%
0.00%
0.00%
0.00%
0.00%
236.41
47.28
9.46
1.89
0.38
0.08
0.02
0.00
0.00
210.41
21.28
-16.55
-24.11
-25.63
-25.93
-25.99
-26.00
-26.00
61.12
1.18
69.89
2.37
7.07
2.37
-5.50
2.37
-8.01
2.37
-8.51
2.37
-8.61
2.37
-8.63
2.37
-8.64
2.37
-8.64
2.37
1.00
0.93
0.93
0.80
0.80
0.69
0.69
0.60
0.60
0.52
0.52
0.44
0.44
0.38
0.38
0.33
0.33
0.29
0.29
Discounting Factor
0.59
2
5.28%
Rs/Unit
11
5.28%
12
5.28%
13
5.28%
14
5.28%
15
5.28%
16
5.28%
17
5.28%
18
2.88%
19
0.00%
20
0.00%
26.01
26.01
26.01
26.01
26.01
26.01
14.18
0.00
0.00
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-26.01
-26.01
-26.01
-26.01
-26.01
-26.01
-14.18
0.00
0.00
-8.64
2.37
-8.64
2.37
-8.64
2.37
-8.64
2.37
-8.64
2.37
-8.64
2.37
-4.71
2.37
0.00
2.37
0.00
2.37
0.21
0.21
0.18
0.18
0.16
0.16
0.14
0.14
0.12
0.12
0.10
0.10
0.09
0.09
0.08
0.08
0.07
0.07
26.01
0.00
-26.01
-8.64
2.37
0.25
0.25
Page58
Annexure:1D

S. No.
Assumption
Head
Sub-Head
Sub-Head (2)
Unit
Wind Zone 4
1 Power Generation
Capacity
Deration Factor
Useful Life
MW
%
%
Years
1
30%
0.00%
25
Power Plant Cost
Rs Lacs/MW
492.52
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
345
147.76
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
344.77
0
10
13.25%
Equity amount
RoE Period
Discount Rate
Rs Lacs
% p.a
Year
% p.a
147.76
19.00%
10
24.00%
22.00%
15.88%
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
2 Project Cost
Capital Cost/MW
3 Sources of Fund
13
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
1.33%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare

Months
Months
%
Rs Lakh
%
1
15%
2
12.75%
6.5
7.26
5.72%
Page59

1
Units Generation
Installed Capacity
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Year--->
1
1
2.63
2
1
2.63
3
1
2.63
4
1
2.63
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
14
1
2.63
15
1
2.63
16
1
2.63
17
1
2.63
18
1
2.63
19
1
2.63
20
1
2.63
21
1
2.63
22
1
2.63
23
1
2.63
24
1
2.63
25
1
2.63
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->
1
7.26
34.48
43.40
2.68
28.07
115.89
2
7.68
34.48
38.83
2.60
28.07
111.66
3
8.12
34.48
34.26
2.53
28.07
107.46
4
8.58
34.48
29.69
2.45
28.07
103.28
5
9.08
34.48
25.12
2.38
28.07
99.13
6
9.59
34.48
20.56
2.30
28.07
95.01
7
10.14
34.48
15.99
2.23
28.07
90.92
8
10.72
34.48
11.42
2.16
28.07
86.86
9
11.34
34.48
6.85
2.10
28.07
82.84
10
11.99
34.48
2.28
2.03
28.07
78.85
11
12.67
6.57
0.00
1.57
35.46
56.27
12
13.40
6.57
0.00
1.61
35.46
57.03
13
14.16
6.57
0.00
1.65
35.46
57.84
14
14.97
6.57
0.00
1.69
35.46
58.69
15
15.83
6.57
0.00
1.74
35.46
59.59
16
16.73
6.57
0.00
1.78
35.46
60.55
17
17.69
6.57
0.00
1.83
35.46
61.55
18
18.70
6.57
0.00
1.89
35.46
62.62
19
19.77
6.57
0.00
1.94
35.46
63.74
20
20.90
6.57
0.00
2.00
35.46
64.93
21
22.10
6.57
0.00
2.06
35.46
66.19
22
23.36
6.57
0.00
2.13
35.46
67.52
23
24.70
6.57
0.00
2.20
35.46
68.93
24
26.11
6.57
0.00
2.27
35.46
70.41
25
27.61
6.57
0.00
2.35
35.46
71.99
1
0.28
1.31
1.65
0.10
1.07
4.41
2
0.29
1.31
1.48
0.10
1.07
4.25
3
0.31
1.31
1.30
0.10
1.07
4.09
4
0.33
1.31
1.13
0.09
1.07
3.93
5
0.35
1.31
0.96
0.09
1.07
3.77
6
0.37
1.31
0.78
0.09
1.07
3.62
7
0.39
1.31
0.61
0.08
1.07
3.46
8
0.41
1.31
0.43
0.08
1.07
3.31
9
0.43
1.31
0.26
0.08
1.07
3.15
10
0.46
1.31
0.09
0.08
1.07
3.00
11
0.48
0.25
0.00
0.06
1.35
2.14
12
0.51
0.25
0.00
0.06
1.35
2.17
13
0.54
0.25
0.00
0.06
1.35
2.20
14
0.57
0.25
0.00
0.06
1.35
2.23
15
0.60
0.25
0.00
0.07
1.35
2.27
16
0.64
0.25
0.00
0.07
1.35
2.30
17
0.67
0.25
0.00
0.07
1.35
2.34
18
0.71
0.25
0.00
0.07
1.35
2.38
19
0.75
0.25
0.00
0.07
1.35
2.43
20
0.80
0.25
0.00
0.08
1.35
2.47
21
0.84
0.25
0.00
0.08
1.35
2.52
22
0.89
0.25
0.00
0.08
1.35
2.57
23
0.94
0.25
0.00
0.08
1.35
2.62
24
0.99
0.25
0.00
0.09
1.35
2.68
25
1.05
0.25
0.00
0.09
1.35
2.74

Unit
Levellised
O&M expn
Rs/kWh
Depreciation
Rs/kWh
Int. on term loan
Rs/kWh
Rs/kWh
RoE
Rs/kWh
Total COG
Rs/kWh
3.55
Levellised
Discount Factor
Levellised Tariff
0.863
Unit
MW
MU
3.55
0.863
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
Rs/Unit
Page60

Income Tax (MAT)
Capital Cost
Depreciation amount
Years
90%
19.9305%
33.2175%
5.28%
80%
492.5
----------------->
Book Depreciation
Unit
Book Depreciation
Rs lakh

Closing
Opening
10
18
19
20
2.88%
0.00%
0.00%
26.01
26.01
26.01
26.01
26.01
26.01
14.18
0.00
0.00
26.01
26.01
26.01
26.01
26.01
26.01
26.01
0.00%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.00
-26.01
-26.01
-26.01
-26.01
-26.01
-26.01
-14.18
0.00
0.00
-8.64
-8.64
-8.64
-8.64
-8.64
-8.64
-4.71
0.00
0.00
2.63
2.63
2.63
2.63
2.63
2.63
2.63
2.63
2.63
0.21
0.18
0.16
0.14
0.12
0.10
0.09
0.08
0.07
0.21
0.18
0.16
0.14
0.12
0.10
0.09
0.08
0.07
0%
0%
0%
0%
0.02%
0.00%
0.00%
12%
2.40%
0.48%
0.10%
0.02%
0.00%
0.00%
0.00%
197.01
236.41
47.28
9.46
1.89
0.38
0.08
0.02
0.00
0.00
210.41
21.28
-16.55
-24.11
-25.63
-25.93
-25.99
-26.00
-26.00
69.89
7.07
-5.50
-8.01
-8.51
-8.61
-8.63
-8.64
-8.64
1.31
2.63
2.63
2.63
2.63
2.63
2.63
2.63
2.63
2.63
1.00
0.93
0.80
0.69
0.60
0.52
0.44
0.38
0.33
0.29
0.80
0.69
0.60
0.52
0.44
0.38
0.33
0.29
17
5.28%
26.01
0.08%
Rs/Unit
16
5.28%
26.01
0%
0.53
15
5.28%
5.28%
0.38%
0.93
14
5.28%
5.28%
2%
13
5.28%
5.28%
1.92%
61.12
12
5.28%
5.28%
12%
0%
0.00%
5.28%
5.28%
9.60%
184.01
11
5.28%
60%
60%
Discounting Factor
4
5.28%
48.00%
MU
Levellised benefit
26.01
3
5.28%
40%
Rs lakh
100%
Energy generation
13.00
5.28%
Tax Benefit
2.64%
Rs lakh
Rs lakh
Accelrated Deprn.
0.00%
0.00
-26.01
-8.64
2.63
0.25
0.25
Page61
Assumptions: Small Hydro Power Plant (Other States 5MW to 25MW) Parameters
S. No.
Assumption Head
Sub-Head
Annexure 2A
Unit
Sub-Head (2)
HP, Uttarakhand, NE
States
Less than 5 MW
1 Power Generation
Capacity
Auxiliary Consumption
Deration Factor
Useful Life
MW
%
1
45%
1%
0.00%
35
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
469
201
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
468.59
0
10
13.25%
2 Project Cost
Capital Cost/MW
669
3 Financial Assumption
35
Debt: Equity
Debt Component
Equity Component
Equity amount
Rs Lacs
Normative ROE (Post-tax)
% p.a
RoE Period
Year
% p.a
Discount Rate (equiv. to WACC) 11th year onwards
Economic Assumptions
Fiscal Assumptions
200.83
16%
19%
10
24.00%
22.57%
16.05%
0
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
0.80%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Intrest On Working Capital
Months
Months
%
1
15%
2
12.75%

O&M Expense
% of base capital cost
power plant (FY 09-10)
lakh
%
0%
21
23.47
5.72%
Page62
Determination of Tariff
Units Generation
Installed Capacity
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->

Unit
Levellised
O&M expn
Rs/kWh
0.90
Depreciation
Rs/kWh
0.97
Int. on term loan
Rs/kWh
0.77
Rs/kWh
0.11
RoE
Rs/kWh
1.03
Total COG
Rs/kWh
3.78
Levellised
Discount Factor
Levellised Tariff
3.78
Rs/Unit
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
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
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
23.47
46.86
58.98
4.35
38.16
171.82
24.81
46.86
52.78
4.28
38.16
166.89
26.23
46.86
46.57
4.22
38.16
162.04
27.73
46.86
40.36
4.17
38.16
157.27
29.32
46.86
34.15
4.12
38.16
152.60
31.00
46.86
27.94
4.07
38.16
148.02
32.77
46.86
21.73
4.03
38.16
143.54
34.64
46.86
15.52
3.99
38.16
139.17
36.63
46.86
9.31
3.96
38.16
134.91
38.72
46.86
3.10
3.93
38.16
130.77
40.94
5.36
0.00
3.30
48.20
97.79
43.28
5.36
0.00
3.42
48.20
100.25
45.75
5.36
0.00
3.55
48.20
102.85
48.37
5.36
0.00
3.68
48.20
105.61
51.14
5.36
0.00
3.83
48.20
108.52
54.06
5.36
0.00
3.98
48.20
111.59
57.15
5.36
0.00
4.14
48.20
114.85
60.42
5.36
0.00
4.31
48.20
118.29
63.88
5.36
0.00
4.49
48.20
121.92
67.53
5.36
0.00
4.68
48.20
125.77
71.40
5.36
0.00
4.88
48.20
129.83
75.48
5.36
0.00
5.10
48.20
134.13
79.80
5.36
0.00
5.32
48.20
138.67
84.36
5.36
0.00
5.56
48.20
143.47
89.19
5.36
0.00
5.81
48.20
148.55
94.29
5.36
0.00
6.08
48.20
153.92
99.68
5.36
0.00
6.36
48.20
159.59
105.38
5.36
0.00
6.65
48.20
165.59
111.41
5.36
0.00
6.97
48.20
171.93
117.79
5.36
0.00
7.30
48.20
178.64
124.52
5.36
0.00
7.65
48.20
185.73
131.65
5.36
0.00
8.02
48.20
193.22
139.18
5.36
0.00
8.41
48.20
201.14
147.14
5.36
0.00
8.83
48.20
209.52
155.55
5.36
0.00
9.27
48.20
218.37
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
0.60
1.20
1.51
0.11
0.98
4.40
0.64
1.20
1.35
0.11
0.98
4.28
0.67
1.20
1.19
0.11
0.98
4.15
0.71
1.20
1.03
0.11
0.98
4.03
0.75
1.20
0.88
0.11
0.98
3.91
0.79
1.20
0.72
0.10
0.98
3.79
0.84
1.20
0.56
0.10
0.98
3.68
0.89
1.20
0.40
0.10
0.98
3.57
0.94
1.20
0.24
0.10
0.98
3.46
0.99
1.20
0.08
0.10
0.98
3.35
1.05
0.14
0.00
0.08
1.24
2.51
1.11
0.14
0.00
0.09
1.24
2.57
1.17
0.14
0.00
0.09
1.24
2.64
1.24
0.14
0.00
0.09
1.24
2.71
1.31
0.14
0.00
0.10
1.24
2.78
1.39
0.14
0.00
0.10
1.24
2.86
1.46
0.14
0.00
0.11
1.24
2.94
1.55
0.14
0.00
0.11
1.24
3.03
1.64
0.14
0.00
0.12
1.24
3.12
1.73
0.14
0.00
0.12
1.24
3.22
1.83
0.14
0.00
0.13
1.24
3.33
1.93
0.14
0.00
0.13
1.24
3.44
2.04
0.14
0.00
0.14
1.24
3.55
2.16
0.14
0.00
0.14
1.24
3.68
2.29
0.14
0.00
0.15
1.24
3.81
2.42
0.14
0.00
0.16
1.24
3.94
2.55
0.14
0.00
0.16
1.24
4.09
2.70
0.14
0.00
0.17
1.24
4.24
2.85
0.14
0.00
0.18
1.24
4.41
3.02
0.14
0.00
0.19
1.24
4.58
3.19
0.14
0.00
0.20
1.24
4.76
3.37
0.14
0.00
0.21
1.24
4.95
3.57
0.14
0.00
0.22
1.24
5.15
3.77
0.14
0.00
0.23
1.24
5.37
3.99
0.14
0.00
0.24
1.24
5.60
0.862
0.743
0.640
0.551
0.475
0.409
0.353
0.304
0.262
0.226
0.195
0.168
0.144
0.124
0.107
0.092
0.080
0.069
0.059
0.051
0.044
0.038
0.033
0.028
0.024
0.021
0.018
0.015
0.013
0.012
0.010
0.009
0.007
0.006
Page63
Determination of Accelerated Depreciation

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
17.67
2
5.28%
35.35
3
5.28%
35.35
4
5.28%
35.35
5
5.28%
35.35
6
5.28%
35.35
7
5.28%
35.35
8
5.28%
35.35
9
5.28%
35.35
10
5.28%
35.35
11
5.28%
35.35
12
5.28%
35.35
13
5.28%
35.35
14
5.28%
35.35
15
5.28%
35.35
16
5.28%
35.35
17
5.28%
35.35
18
2.88%
19.28
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
267.77
60%
48.00%
12%
321.32
12%
9.60%
2.40%
64.26
2%
1.92%
0.48%
12.85
0%
0.38%
0.10%
2.57
0%
0.08%
0.02%
0.51
0%
0.02%
0.00%
0.10
0%
0.00%
0.00%
0.02
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
250.09
83.08
1.95
4.26
1.00
285.98
94.99
3.90
2.43
0.93
28.92
9.61
3.90
0.25
0.80
-22.49
-7.47
3.90
-0.19
0.69
-32.77
-10.89
3.90
-0.28
0.59
-34.83
-11.57
3.90
-0.30
0.51
-35.24
-11.71
3.90
-0.30
0.44
-35.32
-11.73
3.90
-0.30
0.38
-35.34
-11.74
3.90
-0.30
0.33
-35.34
-11.74
3.90
-0.30
0.28
-35.35
-11.74
3.90
-0.30
0.24
-35.35
-11.74
3.90
-0.30
0.21
-35.35
-11.74
3.90
-0.30
0.18
-35.35
-11.74
3.90
-0.30
0.16
-35.35
-11.74
3.90
-0.30
0.13
-35.35
-11.74
3.90
-0.30
0.12
-35.35
-11.74
3.90
-0.30
0.10
-19.28
-6.40
3.90
-0.16
0.09
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Tax Benefit Levellised
Electricity Generation (Levellised)
Levellised benefit
90%
5.28%
80%
19.931%
33.22%
669.4
17.04
3.65
0.47
Rs/Unit
Page64
S. No.
Assumption Head
Sub-Head
Annexure 2B
Unit
Sub-Head (2)
HP, Uttarakhand, NE
States
5 MW to 25 MW
1 Power Generation
Capacity
Deration Factor
Useful Life
MW
%
1
45%
1%
0.00%
35
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
422
181
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
421.73
0
10
13.25%
2 Project Cost
Capital Cost/MW
602
13
Debt: Equity
Debt Component
Equity Component
Equity amount
Rs Lacs
% p.a
RoE Period
Year
% p.a
Fiscal Assumptions
180.74
16%
19%
10
24.00%
22.57%
16.05%
0
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
0.80%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
Months
%
1
15%
2
12.75%

O&M Expense
lakh
%
0%
15
16.77
5.72%
Page65
Units Generation
Installed Capacity
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->

Unit
Levellised
O&M expn
Rs/kWh
0.65
Depreciation
Rs/kWh
0.87
Int. on term loan
Rs/kWh
0.69
Rs/kWh
0.09
RoE
Rs/kWh
0.93
Total COG
Rs/kWh
3.22
Levellised
Discount Factor
Levellised Tariff
3.22
Rs/Unit
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
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
1
3.90
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
16.77
42.17
53.09
3.69
34.34
150.05
17.72
42.17
47.50
3.62
34.34
145.35
18.74
42.17
41.91
3.55
34.34
140.71
19.81
42.17
36.32
3.48
34.34
136.13
20.94
42.17
30.73
3.42
34.34
131.61
22.14
42.17
25.15
3.36
34.34
127.16
23.41
42.17
19.56
3.31
34.34
122.78
24.75
42.17
13.97
3.25
34.34
118.48
26.16
42.17
8.38
3.21
34.34
114.26
27.66
42.17
2.79
3.16
34.34
110.13
29.24
4.82
0.00
2.57
43.38
80.01
30.91
4.82
0.00
2.66
43.38
81.77
32.68
4.82
0.00
2.75
43.38
83.63
34.55
4.82
0.00
2.85
43.38
85.59
36.53
4.82
0.00
2.95
43.38
87.67
38.62
4.82
0.00
3.06
43.38
89.87
40.82
4.82
0.00
3.17
43.38
92.20
43.16
4.82
0.00
3.30
43.38
94.65
45.63
4.82
0.00
3.42
43.38
97.25
48.24
4.82
0.00
3.56
43.38
100.00
51.00
4.82
0.00
3.70
43.38
102.90
53.91
4.82
0.00
3.86
43.38
105.97
57.00
4.82
0.00
4.02
43.38
109.21
60.26
4.82
0.00
4.19
43.38
112.64
63.71
4.82
0.00
4.37
43.38
116.27
67.35
4.82
0.00
4.56
43.38
120.10
71.20
4.82
0.00
4.76
43.38
124.16
75.27
4.82
0.00
4.97
43.38
128.44
79.58
4.82
0.00
5.19
43.38
132.97
84.13
4.82
0.00
5.43
43.38
137.76
88.94
4.82
0.00
5.68
43.38
142.82
94.03
4.82
0.00
5.95
43.38
148.18
99.41
4.82
0.00
6.23
43.38
153.84
105.10
4.82
0.00
6.52
43.38
159.82
111.11
4.82
0.00
6.84
43.38
166.14
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
0.43
1.08
1.36
0.09
0.88
3.84
0.45
1.08
1.22
0.09
0.88
3.72
0.48
1.08
1.07
0.09
0.88
3.61
0.51
1.08
0.93
0.09
0.88
3.49
0.54
1.08
0.79
0.09
0.88
3.37
0.57
1.08
0.64
0.09
0.88
3.26
0.60
1.08
0.50
0.08
0.88
3.15
0.63
1.08
0.36
0.08
0.88
3.04
0.67
1.08
0.21
0.08
0.88
2.93
0.71
1.08
0.07
0.08
0.88
2.82
0.75
0.12
0.00
0.07
1.11
2.05
0.79
0.12
0.00
0.07
1.11
2.10
0.84
0.12
0.00
0.07
1.11
2.14
0.89
0.12
0.00
0.07
1.11
2.19
0.94
0.12
0.00
0.08
1.11
2.25
0.99
0.12
0.00
0.08
1.11
2.30
1.05
0.12
0.00
0.08
1.11
2.36
1.11
0.12
0.00
0.08
1.11
2.43
1.17
0.12
0.00
0.09
1.11
2.49
1.24
0.12
0.00
0.09
1.11
2.56
1.31
0.12
0.00
0.09
1.11
2.64
1.38
0.12
0.00
0.10
1.11
2.72
1.46
0.12
0.00
0.10
1.11
2.80
1.54
0.12
0.00
0.11
1.11
2.89
1.63
0.12
0.00
0.11
1.11
2.98
1.73
0.12
0.00
0.12
1.11
3.08
1.82
0.12
0.00
0.12
1.11
3.18
1.93
0.12
0.00
0.13
1.11
3.29
2.04
0.12
0.00
0.13
1.11
3.41
2.16
0.12
0.00
0.14
1.11
3.53
2.28
0.12
0.00
0.15
1.11
3.66
2.41
0.12
0.00
0.15
1.11
3.80
2.55
0.12
0.00
0.16
1.11
3.94
2.69
0.12
0.00
0.17
1.11
4.10
2.85
0.12
0.00
0.18
1.11
4.26
0.862
0.743
0.640
0.551
0.475
0.409
0.353
0.304
0.262
0.226
0.195
0.168
0.144
0.124
0.107
0.092
0.080
0.069
0.059
0.051
0.044
0.038
0.033
0.028
0.024
0.021
0.018
0.015
0.013
0.012
0.010
0.009
0.007
0.006
Page66

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
15.91
2
5.28%
31.81
3
5.28%
31.81
4
5.28%
31.81
5
5.28%
31.81
6
5.28%
31.81
7
5.28%
31.81
8
5.28%
31.81
9
5.28%
31.81
10
5.28%
31.81
11
5.28%
31.81
12
5.28%
31.81
13
5.28%
31.81
14
5.28%
31.81
15
5.28%
31.81
16
5.28%
31.81
17
5.28%
31.81
18
2.88%
17.35
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
240.99
60%
48.00%
12%
289.19
12%
9.60%
2.40%
57.84
2%
1.92%
0.48%
11.57
0%
0.38%
0.10%
2.31
0%
0.08%
0.02%
0.46
0%
0.02%
0.00%
0.09
0%
0.00%
0.00%
0.02
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
225.08
74.77
1.95
3.83
1.00
257.38
85.49
3.90
2.19
0.93
26.03
8.65
3.90
0.22
0.80
-20.24
-6.72
3.90
-0.17
0.69
-29.50
-9.80
3.90
-0.25
0.59
-31.35
-10.41
3.90
-0.27
0.51
-31.72
-10.54
3.90
-0.27
0.44
-31.79
-10.56
3.90
-0.27
0.38
-31.81
-10.57
3.90
-0.27
0.33
-31.81
-10.57
3.90
-0.27
0.28
-31.81
-10.57
3.90
-0.27
0.24
-31.81
-10.57
3.90
-0.27
0.21
-31.81
-10.57
3.90
-0.27
0.18
-31.81
-10.57
3.90
-0.27
0.16
-31.81
-10.57
3.90
-0.27
0.13
-31.81
-10.57
3.90
-0.27
0.12
-31.81
-10.57
3.90
-0.27
0.10
-17.35
-5.76
3.90
-0.15
0.09
0.00
0.00
3.90
0.00
0.07
0.00
0.00
3.90
0.00
0.06

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Levellised benefit
90%
5.28%
80%
19.931%
33.22%
602.5
15.34
3.65
0.42
Rs/Unit
Page67
S. No.
Assumption Head
Sub-Head
Annexure 2C
Unit
Sub-Head (2)
HP, Uttarakhand, NE
States
Less than 5 MW
1 Power Generation
Capacity
Deration Factor
Useful Life
MW
%
1
30%
1%
0.00%
35
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
368
158
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
368.18
0
10
13.25%
2 Project Cost
Capital Cost/MW
526
35
Debt: Equity
Debt Component
Equity Component
Equity amount
Rs Lacs
% p.a
RoE Period
Year
% p.a
Fiscal Assumptions
157.79
16%
19%
10
24.00%
22.57%
16.05%
0
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
0.80%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
Months
%
1
15%
2
12.75%

O&M Expense
lakh
%
0%
17
19.00
5.72%
Page68
Units Generation
Installed Capacity
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->

Unit
Levellised
O&M expn
Rs/kWh
1.10
Depreciation
Rs/kWh
1.14
Int. on term loan
Rs/kWh
0.90
Rs/kWh
0.13
RoE
Rs/kWh
1.22
Total COG
Rs/kWh
4.49
Levellised
Discount Factor
Levellised Tariff
4.49
Rs/Unit
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
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
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
19.00
36.82
46.34
3.45
29.98
135.59
20.09
36.82
41.47
3.40
29.98
131.75
21.24
36.82
36.59
3.35
29.98
127.97
22.45
36.82
31.71
3.31
29.98
124.27
23.74
36.82
26.83
3.27
29.98
120.63
25.09
36.82
21.95
3.23
29.98
117.08
26.53
36.82
17.07
3.20
29.98
113.60
28.05
36.82
12.20
3.18
29.98
110.22
29.65
36.82
7.32
3.15
29.98
106.92
31.35
36.82
2.44
3.14
29.98
103.72
33.14
4.21
0.00
2.64
37.87
77.86
35.03
4.21
0.00
2.74
37.87
79.85
37.04
4.21
0.00
2.84
37.87
81.96
39.16
4.21
0.00
2.95
37.87
84.19
41.40
4.21
0.00
3.07
37.87
86.54
43.76
4.21
0.00
3.19
37.87
89.04
46.27
4.21
0.00
3.32
37.87
91.67
48.91
4.21
0.00
3.46
37.87
94.45
51.71
4.21
0.00
3.61
37.87
97.40
54.67
4.21
0.00
3.76
37.87
100.51
57.80
4.21
0.00
3.93
37.87
103.80
61.10
4.21
0.00
4.10
37.87
107.28
64.60
4.21
0.00
4.28
37.87
110.96
68.29
4.21
0.00
4.47
37.87
114.84
72.20
4.21
0.00
4.68
37.87
118.95
76.33
4.21
0.00
4.89
37.87
123.30
80.70
4.21
0.00
5.12
37.87
127.89
85.31
4.21
0.00
5.36
37.87
132.75
90.19
4.21
0.00
5.61
37.87
137.88
95.35
4.21
0.00
5.88
37.87
143.31
100.80
4.21
0.00
6.17
37.87
149.05
106.57
4.21
0.00
6.47
37.87
155.11
112.67
4.21
0.00
6.78
37.87
161.53
119.11
4.21
0.00
7.12
37.87
168.31
125.92
4.21
0.00
7.48
37.87
175.48
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
0.73
1.42
1.78
0.13
1.15
5.21
0.77
1.42
1.59
0.13
1.15
5.06
0.82
1.42
1.41
0.13
1.15
4.92
0.86
1.42
1.22
0.13
1.15
4.78
0.91
1.42
1.03
0.13
1.15
4.64
0.96
1.42
0.84
0.12
1.15
4.50
1.02
1.42
0.66
0.12
1.15
4.37
1.08
1.42
0.47
0.12
1.15
4.24
1.14
1.42
0.28
0.12
1.15
4.11
1.20
1.42
0.09
0.12
1.15
3.99
1.27
0.16
0.00
0.10
1.46
2.99
1.35
0.16
0.00
0.11
1.46
3.07
1.42
0.16
0.00
0.11
1.46
3.15
1.51
0.16
0.00
0.11
1.46
3.24
1.59
0.16
0.00
0.12
1.46
3.33
1.68
0.16
0.00
0.12
1.46
3.42
1.78
0.16
0.00
0.13
1.46
3.52
1.88
0.16
0.00
0.13
1.46
3.63
1.99
0.16
0.00
0.14
1.46
3.74
2.10
0.16
0.00
0.14
1.46
3.86
2.22
0.16
0.00
0.15
1.46
3.99
2.35
0.16
0.00
0.16
1.46
4.12
2.48
0.16
0.00
0.16
1.46
4.26
2.62
0.16
0.00
0.17
1.46
4.41
2.78
0.16
0.00
0.18
1.46
4.57
2.93
0.16
0.00
0.19
1.46
4.74
3.10
0.16
0.00
0.20
1.46
4.92
3.28
0.16
0.00
0.21
1.46
5.10
3.47
0.16
0.00
0.22
1.46
5.30
3.66
0.16
0.00
0.23
1.46
5.51
3.87
0.16
0.00
0.24
1.46
5.73
4.10
0.16
0.00
0.25
1.46
5.96
4.33
0.16
0.00
0.26
1.46
6.21
4.58
0.16
0.00
0.27
1.46
6.47
4.84
0.16
0.00
0.29
1.46
6.74
0.862
0.743
0.640
0.551
0.475
0.409
0.353
0.304
0.262
0.226
0.195
0.168
0.144
0.124
0.107
0.092
0.080
0.069
0.059
0.051
0.044
0.038
0.033
0.028
0.024
0.021
0.018
0.015
0.013
0.012
0.010
0.009
0.007
0.006
Page69

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
13.89
2
5.28%
27.77
3
5.28%
27.77
4
5.28%
27.77
5
5.28%
27.77
6
5.28%
27.77
7
5.28%
27.77
8
5.28%
27.77
9
5.28%
27.77
10
5.28%
27.77
11
5.28%
27.77
12
5.28%
27.77
13
5.28%
27.77
14
5.28%
27.77
15
5.28%
27.77
16
5.28%
27.77
17
5.28%
27.77
18
2.88%
15.15
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
210.39
60%
48.00%
12%
252.47
12%
9.60%
2.40%
50.49
2%
1.92%
0.48%
10.10
0%
0.38%
0.10%
2.02
0%
0.08%
0.02%
0.40
0%
0.02%
0.00%
0.08
0%
0.00%
0.00%
0.02
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
196.50
65.27
1.30
5.02
1.00
224.69
74.64
2.60
2.87
0.93
22.72
7.55
2.60
0.29
0.80
-17.67
-5.87
2.60
-0.23
0.69
-25.75
-8.55
2.60
-0.33
0.59
-27.37
-9.09
2.60
-0.35
0.51
-27.69
-9.20
2.60
-0.35
0.44
-27.76
-9.22
2.60
-0.35
0.38
-27.77
-9.22
2.60
-0.35
0.33
-27.77
-9.22
2.60
-0.35
0.28
-27.77
-9.22
2.60
-0.35
0.24
-27.77
-9.22
2.60
-0.35
0.21
-27.77
-9.22
2.60
-0.35
0.18
-27.77
-9.22
2.60
-0.35
0.16
-27.77
-9.22
2.60
-0.35
0.13
-27.77
-9.22
2.60
-0.35
0.12
-27.77
-9.22
2.60
-0.35
0.10
-15.15
-5.03
2.60
-0.19
0.09
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Levellised benefit
90%
5.28%
80%
19.931%
33.22%
526.0
13.39
2.43
0.55
Rs/Unit
Page70
S. No.
Assumption Head
Sub-Head
Annexure 2D
Unit
Sub-Head (2)
HP, Uttarakhand, NE
States
5 MW to 25 MW
1 Power Generation
Capacity
Deration Factor
Useful Life
MW
%
1
30%
1%
0.00%
35
%
Years
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
335
143
Loan Amount
Moratorium Period
Intrest Rate
Rs Lacs
years
years
%
334.71
0
10
13.25%
2 Project Cost
Capital Cost/MW
478
13
Debt: Equity
Debt Component
Equity Component
Equity amount
Rs Lacs
% p.a
RoE Period
Year
% p.a
Fiscal Assumptions
143.45
16%
19%
10
24.00%
22.57%
16.05%
0
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
Depreciation
33.2175%
19.9305%
Yes
0.0%
7.00%
0.80%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
Months
%
1
15%
2
12.75%

O&M Expense
lakh
%
0%
12
13.41
5.72%
Page71
Units Generation
Installed Capacity
Net Generation
Fixed Cost
O&M Expenses
Depreciation
Return on Equity
Total Fixed Cost
Unit
MW
MU
Year--->
Unit
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
Year--->

Unit
Levellised
O&M expn
Rs/kWh
0.77
Depreciation
Rs/kWh
1.03
Int. on term loan
Rs/kWh
0.82
Rs/kWh
0.10
RoE
Rs/kWh
1.11
Total COG
Rs/kWh
3.84
Levellised
Discount Factor
Levellised Tariff
3.84
Rs/Unit
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
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
1
2.60
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
13.41
33.47
42.13
2.93
27.25
119.20
14.18
33.47
37.70
2.88
27.25
115.48
14.99
33.47
33.26
2.82
27.25
111.80
15.85
33.47
28.83
2.77
27.25
108.17
16.75
33.47
24.39
2.72
27.25
104.59
17.71
33.47
19.96
2.67
27.25
101.07
18.73
33.47
15.52
2.63
27.25
97.60
19.80
33.47
11.09
2.59
27.25
94.20
20.93
33.47
6.65
2.55
27.25
90.86
22.13
33.47
2.22
2.52
27.25
87.59
23.39
3.83
0.00
2.05
34.43
63.69
24.73
3.83
0.00
2.12
34.43
65.10
26.14
3.83
0.00
2.19
34.43
66.59
27.64
3.83
0.00
2.27
34.43
68.16
29.22
3.83
0.00
2.35
34.43
69.83
30.89
3.83
0.00
2.44
34.43
71.59
32.66
3.83
0.00
2.53
34.43
73.44
34.53
3.83
0.00
2.63
34.43
75.41
36.50
3.83
0.00
2.73
34.43
77.49
38.59
3.83
0.00
2.84
34.43
79.68
40.80
3.83
0.00
2.96
34.43
82.01
43.13
3.83
0.00
3.08
34.43
84.46
45.60
3.83
0.00
3.21
34.43
87.06
48.21
3.83
0.00
3.34
34.43
89.80
50.96
3.83
0.00
3.49
34.43
92.70
53.88
3.83
0.00
3.64
34.43
95.77
56.96
3.83
0.00
3.80
34.43
99.01
60.22
3.83
0.00
3.97
34.43
102.44
63.66
3.83
0.00
4.15
34.43
106.06
67.31
3.83
0.00
4.34
34.43
109.90
71.16
3.83
0.00
4.54
34.43
113.95
75.23
3.83
0.00
4.75
34.43
118.23
79.53
3.83
0.00
4.97
34.43
122.76
84.08
3.83
0.00
5.21
34.43
127.54
88.89
3.83
0.00
5.46
34.43
132.60
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
0.52
1.29
1.62
0.11
1.05
4.58
0.54
1.29
1.45
0.11
1.05
4.44
0.58
1.29
1.28
0.11
1.05
4.30
0.61
1.29
1.11
0.11
1.05
4.16
0.64
1.29
0.94
0.10
1.05
4.02
0.68
1.29
0.77
0.10
1.05
3.88
0.72
1.29
0.60
0.10
1.05
3.75
0.76
1.29
0.43
0.10
1.05
3.62
0.80
1.29
0.26
0.10
1.05
3.49
0.85
1.29
0.09
0.10
1.05
3.37
0.90
0.15
0.00
0.08
1.32
2.45
0.95
0.15
0.00
0.08
1.32
2.50
1.00
0.15
0.00
0.08
1.32
2.56
1.06
0.15
0.00
0.09
1.32
2.62
1.12
0.15
0.00
0.09
1.32
2.68
1.19
0.15
0.00
0.09
1.32
2.75
1.26
0.15
0.00
0.10
1.32
2.82
1.33
0.15
0.00
0.10
1.32
2.90
1.40
0.15
0.00
0.11
1.32
2.98
1.48
0.15
0.00
0.11
1.32
3.06
1.57
0.15
0.00
0.11
1.32
3.15
1.66
0.15
0.00
0.12
1.32
3.25
1.75
0.15
0.00
0.12
1.32
3.35
1.85
0.15
0.00
0.13
1.32
3.45
1.96
0.15
0.00
0.13
1.32
3.56
2.07
0.15
0.00
0.14
1.32
3.68
2.19
0.15
0.00
0.15
1.32
3.81
2.31
0.15
0.00
0.15
1.32
3.94
2.45
0.15
0.00
0.16
1.32
4.08
2.59
0.15
0.00
0.17
1.32
4.22
2.73
0.15
0.00
0.17
1.32
4.38
2.89
0.15
0.00
0.18
1.32
4.54
3.06
0.15
0.00
0.19
1.32
4.72
3.23
0.15
0.00
0.20
1.32
4.90
3.42
0.15
0.00
0.21
1.32
5.10
0.862
0.743
0.640
0.551
0.475
0.409
0.353
0.304
0.262
0.226
0.195
0.168
0.144
0.124
0.107
0.092
0.080
0.069
0.059
0.051
0.044
0.038
0.033
0.028
0.024
0.021
0.018
0.015
0.013
0.012
0.010
0.009
0.007
0.006
Page72

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
12.62
2
5.28%
25.25
3
5.28%
25.25
4
5.28%
25.25
5
5.28%
25.25
6
5.28%
25.25
7
5.28%
25.25
8
5.28%
25.25
9
5.28%
25.25
10
5.28%
25.25
11
5.28%
25.25
12
5.28%
25.25
13
5.28%
25.25
14
5.28%
25.25
15
5.28%
25.25
16
5.28%
25.25
17
5.28%
25.25
18
2.88%
13.77
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
191.26
60%
48.00%
12%
229.51
12%
9.60%
2.40%
45.90
2%
1.92%
0.48%
9.18
0%
0.38%
0.10%
1.84
0%
0.08%
0.02%
0.37
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00
Rs Lakh
Rs Lakh
MU
Rs/Unit
178.64
59.34
1.30
4.56
1.00
204.27
67.85
2.60
2.61
0.93
20.66
6.86
2.60
0.26
0.80
-16.07
-5.34
2.60
-0.21
0.69
-23.41
-7.78
2.60
-0.30
0.59
-24.88
-8.26
2.60
-0.32
0.51
-25.17
-8.36
2.60
-0.32
0.44
-25.23
-8.38
2.60
-0.32
0.38
-25.24
-8.39
2.60
-0.32
0.33
-25.25
-8.39
2.60
-0.32
0.28
-25.25
-8.39
2.60
-0.32
0.24
-25.25
-8.39
2.60
-0.32
0.21
-25.25
-8.39
2.60
-0.32
0.18
-25.25
-8.39
2.60
-0.32
0.16
-25.25
-8.39
2.60
-0.32
0.13
-25.25
-8.39
2.60
-0.32
0.12
-25.25
-8.39
2.60
-0.32
0.10
-13.77
-4.57
2.60
-0.18
0.09
0.00
0.00
2.60
0.00
0.07
0.00
0.00
2.60
0.00
0.06

Tax Benefit
Energy generation
Per unit benefit
Discounting Factor
Levellised benefit
90%
5.28%
80%
19.931%
33.22%
478.2
12.17
2.43
0.50
Rs/Unit
Page73
Annexure-3A
AP
Select State
Assumption for Biomass Power Project Parameters

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
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
2 Project Cost
Capital Cost/MW
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
426.03
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Return on Equity after 10 years
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
Debt: Equity
Debt Component
Equity Component

Discount Rate (equiv. to WACC)
21.50%
15.73%
4 Financial Assumptions Economic Assumptions

Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No
Depreciation Rate(power plant)

Years for 7% depreciation rate
%
%
33.21750%
19.9305%
Yes
Depreciation
5 Working Capital
For Fixed Charges

O&M Charges
Maintenance Spare
Biomass Stock
6 Fuel Related Assumptions

Heat Rate
Months
Months
Months
%
7.00%
2.00%
10.00
1
15%
2
4
12.75%
After Stabilisation period

During Stablization Period
Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY2011-12)
GCV - Biomass
Biomass Price Escalation Factor
Rs/T
Kcal/kg
1461
3275
5%
Biomass

22.63
5.72%
Page74
Determination of Tariff Component: Biomass Power Projects

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.50
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.22
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
4.40
Levellised Tariff
Discount Factor
Variable Cost (FY2010-11)
Levellised Tariff (Fixed)
Applicable Tariff (FY2010-11 )
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
9.46
24.28
123.73
2.41
2
23.93
29.82
33.59
11.27
24.28
122.90
1.95
3
25.30
29.82
29.64
11.67
24.28
120.70
1.91
4
26.74
29.82
25.68
12.08
24.28
118.62
1.88
5
28.27
29.82
21.73
12.52
24.28
116.64
1.85
6
29.89
29.82
17.78
12.99
24.28
114.77
1.82
7
31.60
29.82
13.83
13.49
24.28
113.03
1.79
8
33.41
29.82
9.88
14.02
24.28
111.41
1.77
9
35.32
29.82
5.93
14.57
24.28
109.93
1.74
10
37.34
29.82
1.98
15.17
24.28
108.59
1.72
11
39.47
8.52
0.00
15.51
30.67
94.18
1.49
12
41.73
8.52
0.00
16.26
30.67
97.18
1.54
13
44.12
8.52
0.00
17.04
30.67
100.36
1.59
14
46.64
8.52
0.00
17.87
30.67
103.71
1.64
15
49.31
8.52
0.00
18.74
30.67
107.24
1.70
16
52.13
8.52
0.00
19.65
30.67
110.98
1.76
17
55.11
8.52
0.00
20.61
30.67
114.92
1.82
18
58.27
8.52
0.00
21.62
30.67
119.08
1.89
19
61.60
8.52
0.00
22.68
30.67
123.47
1.96
20
65.12
8.52
0.00
23.79
30.67
128.11
2.03
1
1.88
0.44
0.58
0.73
0.18
0.47
4.30
2
1.98
0.38
0.47
0.53
0.18
0.39
3.93
3
2.08
0.40
0.47
0.47
0.18
0.39
3.99
4
2.18
0.42
0.47
0.41
0.19
0.39
4.06
5
2.29
0.45
0.47
0.34
0.20
0.39
4.14
6
2.40
0.47
0.47
0.28
0.21
0.39
4.22
7
2.52
0.50
0.47
0.22
0.21
0.39
4.32
8
2.65
0.53
0.47
0.16
0.22
0.39
4.42
9
2.78
0.56
0.47
0.09
0.23
0.39
4.53
10
2.92
0.59
0.47
0.03
0.24
0.39
4.64
11
3.07
0.63
0.14
0.00
0.25
0.49
4.56
12
3.22
0.66
0.14
0.00
0.26
0.49
4.76
13
3.38
0.70
0.14
0.00
0.27
0.49
4.97
14
3.55
0.74
0.14
0.00
0.28
0.49
5.20
15
3.73
0.78
0.14
0.00
0.30
0.49
5.43
16
3.92
0.83
0.14
0.00
0.31
0.49
5.67
17
4.11
0.87
0.14
0.00
0.33
0.49
5.93
18
4.32
0.92
0.14
0.00
0.34
0.49
6.20
19
4.53
0.98
0.14
0.00
0.36
0.49
6.49
20
4.76
1.03
0.14
0.00
0.38
0.49
6.79
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
1.88 Rs/Kwh
1.90 Rs/Kwh
3.78 Rs/Kwh
Page75
Determination of Accelerated Depreciation for Biomass Power Project

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Net Energy generation
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page76
Annexure-3B
Select State
Harayana

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Auxillary Consumption during stablisation
Auxillary Consumption after stabilisation
PLF(during first year after Stablization)
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Financial Assumptions
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6
Fuel Related Assumptions

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2434
GCV - Biomass
Kcal/kg
3458
5%
Biomass

22.63
5.72%
Page77

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.95
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.31
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.94
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
13.09
24.28
127.37
2.49
2
23.93
29.82
33.59
15.97
24.28
127.59
2.02
3
25.30
29.82
29.64
16.60
24.28
125.64
1.99
4
26.74
29.82
25.68
17.26
24.28
123.79
1.96
5
28.27
29.82
21.73
17.96
24.28
122.07
1.94
6
29.89
29.82
17.78
18.70
24.28
120.48
1.91
7
31.60
29.82
13.83
19.48
24.28
119.02
1.89
8
33.41
29.82
9.88
20.31
24.28
117.70
1.87
9
35.32
29.82
5.93
21.18
24.28
116.53
1.85
10
37.34
29.82
1.98
22.11
24.28
115.53
1.83
11
39.47
8.52
0.00
22.80
30.67
101.47
1.61
12
41.73
8.52
0.00
23.91
30.67
104.84
1.66
13
44.12
8.52
0.00
25.08
30.67
108.39
1.72
14
46.64
8.52
0.00
26.31
30.67
112.14
1.78
15
49.31
8.52
0.00
27.60
30.67
116.10
1.84
16
52.13
8.52
0.00
28.95
30.67
120.28
1.91
17
55.11
8.52
0.00
30.38
30.67
124.68
1.98
18
58.27
8.52
0.00
31.87
30.67
129.33
2.05
19
61.60
8.52
0.00
33.45
30.67
134.24
2.13
20
65.12
8.52
0.00
35.10
30.67
139.42
2.21
1
2.97
0.44
0.58
0.73
0.26
0.47
5.46
2
3.12
0.38
0.47
0.53
0.25
0.39
5.14
3
3.28
0.40
0.47
0.47
0.26
0.39
5.27
4
3.44
0.42
0.47
0.41
0.27
0.39
5.40
5
3.61
0.45
0.47
0.34
0.28
0.39
5.55
6
3.79
0.47
0.47
0.28
0.30
0.39
5.70
7
3.98
0.50
0.47
0.22
0.31
0.39
5.87
8
4.18
0.53
0.47
0.16
0.32
0.39
6.05
9
4.39
0.56
0.47
0.09
0.34
0.39
6.24
10
4.61
0.59
0.47
0.03
0.35
0.39
6.44
11
4.84
0.63
0.14
0.00
0.36
0.49
6.45
12
5.08
0.66
0.14
0.00
0.38
0.49
6.75
13
5.34
0.70
0.14
0.00
0.40
0.49
7.06
14
5.60
0.74
0.14
0.00
0.42
0.49
7.38
15
5.88
0.78
0.14
0.00
0.44
0.49
7.73
16
6.18
0.83
0.14
0.00
0.46
0.49
8.09
17
6.49
0.87
0.14
0.00
0.48
0.49
8.46
18
6.81
0.92
0.14
0.00
0.51
0.49
8.86
19
7.15
0.98
0.14
0.00
0.53
0.49
9.28
20
7.51
1.03
0.14
0.00
0.56
0.49
9.72
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.97 Rs/Kwh
1.99 Rs/Kwh
4.97 Rs/Kwh
Page78

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page79
Annexure-3C
Select State
Maharashtra

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2022
GCV - Biomass
Kcal/kg
3611
5%
Biomass

22.63
5.72%
Page80

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.14
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.26
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.08
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
11.06
24.28
125.34
2.45
2
23.93
29.82
33.59
13.35
24.28
124.97
1.98
3
25.30
29.82
29.64
13.85
24.28
122.88
1.95
4
26.74
29.82
25.68
14.37
24.28
120.90
1.92
5
28.27
29.82
21.73
14.93
24.28
119.04
1.89
6
29.89
29.82
17.78
15.52
24.28
117.29
1.86
7
31.60
29.82
13.83
16.14
24.28
115.67
1.83
8
33.41
29.82
9.88
16.80
24.28
114.19
1.81
9
35.32
29.82
5.93
17.49
24.28
112.85
1.79
10
37.34
29.82
1.98
18.23
24.28
111.65
1.77
11
39.47
8.52
0.00
18.73
30.67
97.40
1.54
12
41.73
8.52
0.00
19.64
30.67
100.57
1.59
13
44.12
8.52
0.00
20.59
30.67
103.91
1.65
14
46.64
8.52
0.00
21.60
30.67
107.43
1.70
15
49.31
8.52
0.00
22.65
30.67
111.16
1.76
16
52.13
8.52
0.00
23.76
30.67
115.09
1.82
17
55.11
8.52
0.00
24.93
30.67
119.23
1.89
18
58.27
8.52
0.00
26.15
30.67
123.61
1.96
19
61.60
8.52
0.00
27.44
30.67
128.23
2.03
20
65.12
8.52
0.00
28.79
30.67
133.11
2.11
1
2.36
0.44
0.58
0.73
0.22
0.47
4.81
2
2.48
0.38
0.47
0.53
0.21
0.39
4.46
3
2.61
0.40
0.47
0.47
0.22
0.39
4.56
4
2.74
0.42
0.47
0.41
0.23
0.39
4.65
5
2.87
0.45
0.47
0.34
0.24
0.39
4.76
6
3.02
0.47
0.47
0.28
0.25
0.39
4.88
7
3.17
0.50
0.47
0.22
0.26
0.39
5.00
8
3.33
0.53
0.47
0.16
0.27
0.39
5.14
9
3.49
0.56
0.47
0.09
0.28
0.39
5.28
10
3.67
0.59
0.47
0.03
0.29
0.39
5.44
11
3.85
0.63
0.14
0.00
0.30
0.49
5.40
12
4.04
0.66
0.14
0.00
0.31
0.49
5.64
13
4.25
0.70
0.14
0.00
0.33
0.49
5.89
14
4.46
0.74
0.14
0.00
0.34
0.49
6.16
15
4.68
0.78
0.14
0.00
0.36
0.49
6.44
16
4.92
0.83
0.14
0.00
0.38
0.49
6.74
17
5.16
0.87
0.14
0.00
0.40
0.49
7.05
18
5.42
0.92
0.14
0.00
0.41
0.49
7.38
19
5.69
0.98
0.14
0.00
0.44
0.49
7.72
20
5.97
1.03
0.14
0.00
0.46
0.49
8.09
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.36 Rs/Kwh
1.94 Rs/Kwh
4.31 Rs/Kwh
Page81

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page82
Annexure-3D
Select State
Punjab

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2349
GCV - Biomass
Kcal/kg
3368
5%
Biomass

22.63
5.72%
Page83

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.91
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.31
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.90
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
13.00
24.28
127.28
2.48
2
23.93
29.82
33.59
15.85
24.28
127.47
2.02
3
25.30
29.82
29.64
16.47
24.28
125.51
1.99
4
26.74
29.82
25.68
17.13
24.28
123.66
1.96
5
28.27
29.82
21.73
17.82
24.28
121.94
1.93
6
29.89
29.82
17.78
18.56
24.28
120.33
1.91
7
31.60
29.82
13.83
19.33
24.28
118.87
1.88
8
33.41
29.82
9.88
20.15
24.28
117.54
1.86
9
35.32
29.82
5.93
21.02
24.28
116.37
1.84
10
37.34
29.82
1.98
21.93
24.28
115.35
1.83
11
39.47
8.52
0.00
22.61
30.67
101.28
1.61
12
41.73
8.52
0.00
23.72
30.67
104.64
1.66
13
44.12
8.52
0.00
24.87
30.67
108.19
1.72
14
46.64
8.52
0.00
26.09
30.67
111.93
1.77
15
49.31
8.52
0.00
27.37
30.67
115.88
1.84
16
52.13
8.52
0.00
28.72
30.67
120.04
1.90
17
55.11
8.52
0.00
30.13
30.67
124.44
1.97
18
58.27
8.52
0.00
31.61
30.67
129.07
2.05
19
61.60
8.52
0.00
33.17
30.67
133.97
2.12
20
65.12
8.52
0.00
34.81
30.67
139.13
2.21
1
2.94
0.44
0.58
0.73
0.25
0.47
5.43
2
3.09
0.38
0.47
0.53
0.25
0.39
5.11
3
3.25
0.40
0.47
0.47
0.26
0.39
5.24
4
3.41
0.42
0.47
0.41
0.27
0.39
5.37
5
3.58
0.45
0.47
0.34
0.28
0.39
5.51
6
3.76
0.47
0.47
0.28
0.29
0.39
5.67
7
3.95
0.50
0.47
0.22
0.31
0.39
5.83
8
4.14
0.53
0.47
0.16
0.32
0.39
6.01
9
4.35
0.56
0.47
0.09
0.33
0.39
6.20
10
4.57
0.59
0.47
0.03
0.35
0.39
6.40
11
4.80
0.63
0.14
0.00
0.36
0.49
6.40
12
5.04
0.66
0.14
0.00
0.38
0.49
6.70
13
5.29
0.70
0.14
0.00
0.39
0.49
7.00
14
5.55
0.74
0.14
0.00
0.41
0.49
7.33
15
5.83
0.78
0.14
0.00
0.43
0.49
7.67
16
6.12
0.83
0.14
0.00
0.46
0.49
8.02
17
6.43
0.87
0.14
0.00
0.48
0.49
8.40
18
6.75
0.92
0.14
0.00
0.50
0.49
8.80
19
7.09
0.98
0.14
0.00
0.53
0.49
9.21
20
7.44
1.03
0.14
0.00
0.55
0.49
9.65
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.94 Rs/Kwh
1.99 Rs/Kwh
4.94 Rs/Kwh
Page84

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page85
Annexure-3E
Select State
MP

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate

Months
Months
1
15%
2
Months
%
4
12.75%
Kcal/kwh
Kcal/kwh
3800
3800
Biomass
Base Price(FY11-12)
Rs/T
1459
GCV - Biomass
Kcal/kg
3612
5%

22.63
5.72%
Page86

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.26
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.20
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
4.15
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
8.86
24.28
123.14
2.40
2
23.93
29.82
33.59
10.50
24.28
122.13
1.94
3
25.30
29.82
29.64
10.86
24.28
119.90
1.90
4
26.74
29.82
25.68
11.23
24.28
117.77
1.87
5
28.27
29.82
21.73
11.63
24.28
115.74
1.84
6
29.89
29.82
17.78
12.06
24.28
113.83
1.80
7
31.60
29.82
13.83
12.51
24.28
112.04
1.78
8
33.41
29.82
9.88
12.99
24.28
110.38
1.75
9
35.32
29.82
5.93
13.49
24.28
108.84
1.73
10
37.34
29.82
1.98
14.03
24.28
107.45
1.70
11
39.47
8.52
0.00
14.32
30.67
92.99
1.47
12
41.73
8.52
0.00
15.00
30.67
95.93
1.52
13
44.12
8.52
0.00
15.73
30.67
99.04
1.57
14
46.64
8.52
0.00
16.49
30.67
102.33
1.62
15
49.31
8.52
0.00
17.29
30.67
105.79
1.68
16
52.13
8.52
0.00
18.13
30.67
109.45
1.74
17
55.11
8.52
0.00
19.01
30.67
113.32
1.80
18
58.27
8.52
0.00
19.94
30.67
117.40
1.86
19
61.60
8.52
0.00
20.92
30.67
121.71
1.93
20
65.12
8.52
0.00
21.94
30.67
126.26
2.00
1
1.70
0.44
0.58
0.73
0.17
0.47
4.11
2
1.79
0.38
0.47
0.53
0.17
0.39
3.73
3
1.88
0.40
0.47
0.47
0.17
0.39
3.78
4
1.97
0.42
0.47
0.41
0.18
0.39
3.84
5
2.07
0.45
0.47
0.34
0.18
0.39
3.91
6
2.18
0.47
0.47
0.28
0.19
0.39
3.98
7
2.28
0.50
0.47
0.22
0.20
0.39
4.06
8
2.40
0.53
0.47
0.16
0.21
0.39
4.15
9
2.52
0.56
0.47
0.09
0.21
0.39
4.24
10
2.64
0.59
0.47
0.03
0.22
0.39
4.35
11
2.78
0.63
0.14
0.00
0.23
0.49
4.25
12
2.92
0.66
0.14
0.00
0.24
0.49
4.44
13
3.06
0.70
0.14
0.00
0.25
0.49
4.63
14
3.21
0.74
0.14
0.00
0.26
0.49
4.84
15
3.38
0.78
0.14
0.00
0.27
0.49
5.05
16
3.54
0.83
0.14
0.00
0.29
0.49
5.28
17
3.72
0.87
0.14
0.00
0.30
0.49
5.52
18
3.91
0.92
0.14
0.00
0.32
0.49
5.77
19
4.10
0.98
0.14
0.00
0.33
0.49
6.03
20
4.31
1.03
0.14
0.00
0.35
0.49
6.31
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
1.70 Rs/Kwh
1.88 Rs/Kwh
3.59 Rs/Kwh
Page87

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page88
Annexure-3F
Select State
Rajasthan

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2046
GCV - Biomass
Kcal/kg
3689
5%
Biomass

22.63
5.72%
Page89

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.11
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.25
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.05
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
10.98
24.28
125.26
2.44
2
23.93
29.82
33.59
13.25
24.28
124.87
1.98
3
25.30
29.82
29.64
13.74
24.28
122.78
1.95
4
26.74
29.82
25.68
14.26
24.28
120.79
1.92
5
28.27
29.82
21.73
14.81
24.28
118.92
1.89
6
29.89
29.82
17.78
15.39
24.28
117.17
1.86
7
31.60
29.82
13.83
16.01
24.28
115.55
1.83
8
33.41
29.82
9.88
16.66
24.28
114.06
1.81
9
35.32
29.82
5.93
17.36
24.28
112.71
1.79
10
37.34
29.82
1.98
18.09
24.28
111.51
1.77
11
39.47
8.52
0.00
18.58
30.67
97.24
1.54
12
41.73
8.52
0.00
19.48
30.67
100.40
1.59
13
44.12
8.52
0.00
20.42
30.67
103.74
1.64
14
46.64
8.52
0.00
21.42
30.67
107.26
1.70
15
49.31
8.52
0.00
22.47
30.67
110.97
1.76
16
52.13
8.52
0.00
23.56
30.67
114.89
1.82
17
55.11
8.52
0.00
24.72
30.67
119.03
1.89
18
58.27
8.52
0.00
25.93
30.67
123.39
1.96
19
61.60
8.52
0.00
27.21
30.67
128.00
2.03
20
65.12
8.52
0.00
28.55
30.67
132.87
2.11
1
2.34
0.44
0.58
0.73
0.21
0.47
4.79
2
2.46
0.38
0.47
0.53
0.21
0.39
4.44
3
2.58
0.40
0.47
0.47
0.22
0.39
4.53
4
2.71
0.42
0.47
0.41
0.23
0.39
4.63
5
2.85
0.45
0.47
0.34
0.23
0.39
4.73
6
2.99
0.47
0.47
0.28
0.24
0.39
4.85
7
3.14
0.50
0.47
0.22
0.25
0.39
4.97
8
3.29
0.53
0.47
0.16
0.26
0.39
5.10
9
3.46
0.56
0.47
0.09
0.28
0.39
5.25
10
3.63
0.59
0.47
0.03
0.29
0.39
5.40
11
3.81
0.63
0.14
0.00
0.29
0.49
5.36
12
4.00
0.66
0.14
0.00
0.31
0.49
5.60
13
4.20
0.70
0.14
0.00
0.32
0.49
5.85
14
4.42
0.74
0.14
0.00
0.34
0.49
6.12
15
4.64
0.78
0.14
0.00
0.36
0.49
6.40
16
4.87
0.83
0.14
0.00
0.37
0.49
6.69
17
5.11
0.87
0.14
0.00
0.39
0.49
7.00
18
5.37
0.92
0.14
0.00
0.41
0.49
7.32
19
5.63
0.98
0.14
0.00
0.43
0.49
7.66
20
5.92
1.03
0.14
0.00
0.45
0.49
8.02
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.34 Rs/Kwh
1.94 Rs/Kwh
4.28 Rs/Kwh
Page90

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page91
Annexure-3G
Select State
UP

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate

Months
Months
1
15%
2
Months
%
4
12.75%
Kcal/kwh
Kcal/kwh
3800
3800
Biomass
Base Price(FY11-12)
Rs/T
1704
GCV - Biomass
Kcal/kg
3371
5%

22.63
5.72%
Page92

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.84
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.24
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
4.76
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
10.29
24.28
124.57
2.43
2
23.93
29.82
33.59
12.36
24.28
123.98
1.97
3
25.30
29.82
29.64
12.81
24.28
121.84
1.93
4
26.74
29.82
25.68
13.28
24.28
119.81
1.90
5
28.27
29.82
21.73
13.78
24.28
117.89
1.87
6
29.89
29.82
17.78
14.31
24.28
116.09
1.84
7
31.60
29.82
13.83
14.87
24.28
114.41
1.81
8
33.41
29.82
9.88
15.47
24.28
112.86
1.79
9
35.32
29.82
5.93
16.10
24.28
111.45
1.77
10
37.34
29.82
1.98
16.77
24.28
110.19
1.75
11
39.47
8.52
0.00
17.19
30.67
95.86
1.52
12
41.73
8.52
0.00
18.03
30.67
98.95
1.57
13
44.12
8.52
0.00
18.90
30.67
102.21
1.62
14
46.64
8.52
0.00
19.82
30.67
105.66
1.68
15
49.31
8.52
0.00
20.78
30.67
109.29
1.73
16
52.13
8.52
0.00
21.80
30.67
113.13
1.79
17
55.11
8.52
0.00
22.87
30.67
117.17
1.86
18
58.27
8.52
0.00
23.99
30.67
121.45
1.93
19
61.60
8.52
0.00
25.17
30.67
125.96
2.00
20
65.12
8.52
0.00
26.41
30.67
130.72
2.07
1
2.13
0.44
0.58
0.73
0.20
0.47
4.57
2
2.24
0.38
0.47
0.53
0.20
0.39
4.21
3
2.35
0.40
0.47
0.47
0.20
0.39
4.29
4
2.47
0.42
0.47
0.41
0.21
0.39
4.37
5
2.59
0.45
0.47
0.34
0.22
0.39
4.46
6
2.72
0.47
0.47
0.28
0.23
0.39
4.57
7
2.86
0.50
0.47
0.22
0.24
0.39
4.67
8
3.00
0.53
0.47
0.16
0.25
0.39
4.79
9
3.15
0.56
0.47
0.09
0.26
0.39
4.92
10
3.31
0.59
0.47
0.03
0.27
0.39
5.06
11
3.48
0.63
0.14
0.00
0.27
0.49
5.00
12
3.65
0.66
0.14
0.00
0.29
0.49
5.22
13
3.83
0.70
0.14
0.00
0.30
0.49
5.45
14
4.03
0.74
0.14
0.00
0.31
0.49
5.70
15
4.23
0.78
0.14
0.00
0.33
0.49
5.96
16
4.44
0.83
0.14
0.00
0.35
0.49
6.23
17
4.66
0.87
0.14
0.00
0.36
0.49
6.52
18
4.89
0.92
0.14
0.00
0.38
0.49
6.82
19
5.14
0.98
0.14
0.00
0.40
0.49
7.13
20
5.39
1.03
0.14
0.00
0.42
0.49
7.47
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.13 Rs/Kwh
1.92 Rs/Kwh
4.06 Rs/Kwh
Page93

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page94
Annexure-3H
Select State
TN

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2047
GCV - Biomass
Kcal/kg
3300
5%
Biomass

22.63
5.72%
Page95

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.48
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.28
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.44
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
11.91
24.28
126.19
2.46
2
23.93
29.82
33.59
14.45
24.28
126.07
2.00
3
25.30
29.82
29.64
15.00
24.28
124.04
1.97
4
26.74
29.82
25.68
15.58
24.28
122.11
1.94
5
28.27
29.82
21.73
16.20
24.28
120.31
1.91
6
29.89
29.82
17.78
16.85
24.28
118.63
1.88
7
31.60
29.82
13.83
17.54
24.28
117.07
1.86
8
33.41
29.82
9.88
18.27
24.28
115.66
1.83
9
35.32
29.82
5.93
19.04
24.28
114.39
1.81
10
37.34
29.82
1.98
19.85
24.28
113.27
1.80
11
39.47
8.52
0.00
20.43
30.67
99.10
1.57
12
41.73
8.52
0.00
21.43
30.67
102.35
1.62
13
44.12
8.52
0.00
22.47
30.67
105.78
1.68
14
46.64
8.52
0.00
23.57
30.67
109.41
1.73
15
49.31
8.52
0.00
24.72
30.67
113.23
1.80
16
52.13
8.52
0.00
25.93
30.67
117.26
1.86
17
55.11
8.52
0.00
27.21
30.67
121.52
1.93
18
58.27
8.52
0.00
28.55
30.67
126.01
2.00
19
61.60
8.52
0.00
29.95
30.67
130.75
2.07
20
65.12
8.52
0.00
31.43
30.67
135.75
2.15
1
2.62
0.44
0.58
0.73
0.23
0.47
5.08
2
2.75
0.38
0.47
0.53
0.23
0.39
4.75
3
2.89
0.40
0.47
0.47
0.24
0.39
4.85
4
3.03
0.42
0.47
0.41
0.25
0.39
4.97
5
3.18
0.45
0.47
0.34
0.26
0.39
5.09
6
3.34
0.47
0.47
0.28
0.27
0.39
5.22
7
3.51
0.50
0.47
0.22
0.28
0.39
5.37
8
3.68
0.53
0.47
0.16
0.29
0.39
5.52
9
3.87
0.56
0.47
0.09
0.30
0.39
5.68
10
4.06
0.59
0.47
0.03
0.31
0.39
5.86
11
4.27
0.63
0.14
0.00
0.32
0.49
5.84
12
4.48
0.66
0.14
0.00
0.34
0.49
6.10
13
4.70
0.70
0.14
0.00
0.36
0.49
6.38
14
4.94
0.74
0.14
0.00
0.37
0.49
6.67
15
5.19
0.78
0.14
0.00
0.39
0.49
6.98
16
5.44
0.83
0.14
0.00
0.41
0.49
7.30
17
5.72
0.87
0.14
0.00
0.43
0.49
7.64
18
6.00
0.92
0.14
0.00
0.45
0.49
8.00
19
6.30
0.98
0.14
0.00
0.47
0.49
8.38
20
6.62
1.03
0.14
0.00
0.50
0.49
8.77
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.62 Rs/Kwh
1.96 Rs/Kwh
4.58 Rs/Kwh
Page96

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page97
Annexure-3I
Select State
Others

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
10%
10%
60%
70%
80%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
298.22
127.81
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
298.22
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
127.81
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
426.03
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3800
3800
Base Price(FY11-12)
Rs/T
2018
GCV - Biomass
Kcal/kg
3467
5%
Biomass

22.63
5.72%
Page98

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.26
O&M expn
Rs/kWh
0.51
Depreciation
Rs/kWh
0.42
Int. on term loan
Rs/kWh
0.33
Rs/kWh
0.26
RoE
Rs/kWh
0.42
Total COG
Rs/kWh
5.21
Levellised Tariff
Discount Factor
Unit
Year -->
1
1
5.69
0.57
5.12
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
1
22.63
29.82
37.54
11.37
24.28
125.65
2.45
2
23.93
29.82
33.59
13.75
24.28
125.37
1.99
3
25.30
29.82
29.64
14.27
24.28
123.30
1.95
4
26.74
29.82
25.68
14.81
24.28
121.34
1.92
5
28.27
29.82
21.73
15.39
24.28
119.50
1.89
6
29.89
29.82
17.78
16.00
24.28
117.78
1.87
7
31.60
29.82
13.83
16.65
24.28
116.18
1.84
8
33.41
29.82
9.88
17.33
24.28
114.73
1.82
9
35.32
29.82
5.93
18.06
24.28
113.41
1.80
10
37.34
29.82
1.98
18.82
24.28
112.24
1.78
11
39.47
8.52
0.00
19.35
30.67
98.02
1.55
12
41.73
8.52
0.00
20.29
30.67
101.22
1.60
13
44.12
8.52
0.00
21.28
30.67
104.59
1.66
14
46.64
8.52
0.00
22.32
30.67
108.15
1.71
15
49.31
8.52
0.00
23.41
30.67
111.91
1.77
16
52.13
8.52
0.00
24.55
30.67
115.88
1.84
17
55.11
8.52
0.00
25.76
30.67
120.07
1.90
18
58.27
8.52
0.00
27.02
30.67
124.48
1.97
19
61.60
8.52
0.00
28.35
30.67
129.15
2.05
20
65.12
8.52
0.00
29.75
30.67
134.07
2.13
1
2.46
0.44
0.58
0.73
0.22
0.47
4.91
2
2.58
0.38
0.47
0.53
0.22
0.39
4.57
3
2.71
0.40
0.47
0.47
0.23
0.39
4.66
4
2.84
0.42
0.47
0.41
0.23
0.39
4.77
5
2.99
0.45
0.47
0.34
0.24
0.39
4.88
6
3.14
0.47
0.47
0.28
0.25
0.39
5.00
7
3.29
0.50
0.47
0.22
0.26
0.39
5.13
8
3.46
0.53
0.47
0.16
0.27
0.39
5.28
9
3.63
0.56
0.47
0.09
0.29
0.39
5.43
10
3.81
0.59
0.47
0.03
0.30
0.39
5.59
11
4.00
0.63
0.14
0.00
0.31
0.49
5.56
12
4.20
0.66
0.14
0.00
0.32
0.49
5.81
13
4.41
0.70
0.14
0.00
0.34
0.49
6.07
14
4.63
0.74
0.14
0.00
0.35
0.49
6.35
15
4.87
0.78
0.14
0.00
0.37
0.49
6.64
16
5.11
0.83
0.14
0.00
0.39
0.49
6.95
17
5.36
0.87
0.14
0.00
0.41
0.49
7.27
18
5.63
0.92
0.14
0.00
0.43
0.49
7.61
19
5.91
0.98
0.14
0.00
0.45
0.49
7.96
20
6.21
1.03
0.14
0.00
0.47
0.49
8.33
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.46 Rs/Kwh
1.95 Rs/Kwh
4.41 Rs/Kwh
Page99

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.931%
33.22%
426.0
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.25
2
5.28%
22.49
3
5.28%
22.49
4
5.28%
22.49
5
5.28%
22.49
6
5.28%
22.49
7
5.28%
22.49
8
5.28%
22.49
9
5.28%
22.49
10
5.28%
22.49
11
5.28%
22.49
12
5.28%
22.49
13
5.28%
22.49
14
5.28%
22.49
15
5.28%
22.49
16
5.28%
22.49
17
5.28%
22.49
18
2.88%
12.27
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
170.41
60%
48.00%
12%
204.50
12%
9.60%
2.40%
40.90
2%
1.92%
0.48%
8.18
0%
0.38%
0.10%
1.64
0%
0.08%
0.02%
0.33
0%
0.02%
0.00%
0.07
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00
0%
0.00%
0.00%
0.00

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
159.17
52.87
2.56
2.06
182.00
60.46
6.31
0.96
18.40
6.11
6.31
0.10
-14.31
-4.75
6.31
-0.08
-20.86
-6.93
6.31
-0.11
-22.17
-7.36
6.31
-0.12
-22.43
-7.45
6.31
-0.12
-22.48
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-22.49
-7.47
6.31
-0.12
-12.27
-4.08
6.31
-0.06
0.00
0.00
6.31
0.00
0.00
0.00
6.31
0.00
1.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.08
0.07
Discounting Factor
Levellised benefit
0.19
(Rs/kWh)
Page100
Annexure 4A
Select State
AP
Asumption: Non Fossil Fuel based co-generation Projects

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
45%
45%
45%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate

Months
Months
1
15%
2
Months
%
4
12.75%
Kcal/kwh
Kcal/kwh
3600
3600
Biomass
Base Price(FY11-12)
Rs/T
1009
GCV - Biomass
Kcal/kg
2250
5%

Rs Lakh
%
13.35
14.92
5.72%
Page101

Determination of Tariff for non-fossil fuel basd co-generation Projects
Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.34
O&M expn
Rs/kWh
0.57
Depreciation
Rs/kWh
0.71
Int. on term loan
Rs/kWh
0.54
Rs/kWh
0.22
RoE
Rs/kWh
0.70
Total COG
Rs/kWh
5.09
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
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
1
14.92
29.49
37.12
6.89
24.01
112.44
3.12
2
15.77
29.49
33.21
7.06
24.01
109.55
3.04
3
16.68
29.49
29.31
7.24
24.01
106.73
2.96
4
17.63
29.49
25.40
7.43
24.01
103.97
2.88
5
18.64
29.49
21.49
7.64
24.01
101.28
2.81
6
19.71
29.49
17.58
7.86
24.01
98.66
2.74
7
20.83
29.49
13.68
8.10
24.01
96.11
2.66
8
22.02
29.49
9.77
8.36
24.01
93.65
2.60
9
23.28
29.49
5.86
8.63
24.01
91.28
2.53
10
24.62
29.49
1.95
8.92
24.01
88.99
2.47
11
26.02
8.43
0.00
8.95
30.33
73.74
2.04
12
27.51
8.43
0.00
9.37
30.33
75.64
2.10
13
29.09
8.43
0.00
9.80
30.33
77.65
2.15
14
30.75
8.43
0.00
10.26
30.33
79.77
2.21
15
32.51
8.43
0.00
10.75
30.33
82.01
2.27
16
34.37
8.43
0.00
11.25
30.33
84.38
2.34
17
36.33
8.43
0.00
11.79
30.33
86.88
2.41
18
38.41
8.43
0.00
12.35
30.33
89.52
2.48
19
40.61
8.43
0.00
12.94
30.33
92.31
2.56
20
42.93
8.43
0.00
13.56
30.33
95.25
2.64
1
1.77
0.41
0.82
1.03
0.19
0.67
4.88
2
1.85
0.44
0.82
0.92
0.20
0.67
4.89
3
1.95
0.46
0.82
0.81
0.20
0.67
4.90
4
2.04
0.49
0.82
0.70
0.21
0.67
4.93
5
2.15
0.52
0.82
0.60
0.21
0.67
4.95
6
2.25
0.55
0.82
0.49
0.22
0.67
4.99
7
2.37
0.58
0.82
0.38
0.22
0.67
5.03
8
2.48
0.61
0.82
0.27
0.23
0.67
5.08
9
2.61
0.65
0.82
0.16
0.24
0.67
5.14
10
2.74
0.68
0.82
0.05
0.25
0.67
5.21
11
2.88
0.72
0.23
0.00
0.25
0.84
4.92
12
3.02
0.76
0.23
0.00
0.26
0.84
5.12
13
3.17
0.81
0.23
0.00
0.27
0.84
5.32
14
3.33
0.85
0.23
0.00
0.28
0.84
5.54
15
3.49
0.90
0.23
0.00
0.30
0.84
5.77
16
3.67
0.95
0.23
0.00
0.31
0.84
6.01
17
3.85
1.01
0.23
0.00
0.33
0.84
6.26
18
4.05
1.06
0.23
0.00
0.34
0.84
6.53
19
4.25
1.13
0.23
0.00
0.36
0.84
6.81
20
4.46
1.19
0.23
0.00
0.38
0.84
7.10
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
1.77 Rs/Kwh
2.75 Rs/Kwh
4.51 Rs/Kwh
Page102
Determination of Accelerated Depreciation for non-fossil fuel based co-generation project

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
1.80
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 3.61
2.90
1.66 0.17 -0.13 -0.19 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.11
Discounting Factor
Levellised benefit
1.00
0.33
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.08
0.07
(Rs/kWh)
Page103
Annexure 4B
Select State
Harayana

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
53%
53%
53%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3600
3600
Base Price(FY11-12)
Rs/T
1584
GCV - Biomass
Kcal/kg
2250
5%
Biomass

Rs Lakh
%
13.35
14.92
5.72%
Page104

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.68
O&M expn
Rs/kWh
0.49
Depreciation
Rs/kWh
0.60
Int. on term loan
Rs/kWh
0.46
Rs/kWh
0.30
RoE
Rs/kWh
0.59
Total COG
Rs/kWh
6.12
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
1
14.92
29.49
37.12
10.41
24.01
115.96
2.73
2
15.77
29.49
33.21
10.75
24.01
113.25
2.67
3
16.68
29.49
29.31
11.12
24.01
110.61
2.60
4
17.63
29.49
25.40
11.51
24.01
108.04
2.54
5
18.64
29.49
21.49
11.92
24.01
105.55
2.48
1
2.77
0.35
0.69
0.87
0.25
0.57
5.50
2
2.91
0.37
0.69
0.78
0.25
0.57
5.57
3
3.05
0.39
0.69
0.69
0.26
0.57
5.66
4
3.21
0.42
0.69
0.60
0.27
0.57
5.75
5
3.37
0.44
0.69
0.51
0.28
0.57
5.85
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
6
7
19.71 20.83
29.49 29.49
17.58 13.68
12.35 12.82
24.01 24.01
103.15 100.83
2.43
2.37
6
3.54
0.46
0.69
0.41
0.29
0.57
5.96
6
0.482
7
3.71
0.49
0.69
0.32
0.30
0.57
6.09
7
0.416
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
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
8
22.02
29.49
9.77
13.31
24.01
98.61
2.32
9
23.28
29.49
5.86
13.83
24.01
96.48
2.27
10
24.62
29.49
1.95
14.38
24.01
94.45
2.22
11
26.02
8.43
0.00
14.68
30.33
79.47
1.87
12
27.51
8.43
0.00
15.39
30.33
81.66
1.92
13
29.09
8.43
0.00
16.12
30.33
83.97
1.98
14
30.75
8.43
0.00
16.90
30.33
86.41
2.03
15
32.51
8.43
0.00
17.71
30.33
88.98
2.09
16
34.37
8.43
0.00
18.57
30.33
91.70
2.16
17
36.33
8.43
0.00
19.47
30.33
94.56
2.23
18
38.41
8.43
0.00
20.41
30.33
97.58
2.30
8
3.90
0.52
0.69
0.23
0.31
0.57
6.22
9
4.09
0.55
0.69
0.14
0.33
0.57
6.36
10
4.30
0.58
0.69
0.05
0.34
0.57
6.52
11
4.51
0.61
0.20
0.00
0.35
0.71
6.38
12
4.74
0.65
0.20
0.00
0.36
0.71
6.66
13
4.98
0.68
0.20
0.00
0.38
0.71
6.95
14
5.22
0.72
0.20
0.00
0.40
0.71
7.26
15
5.48
0.77
0.20
0.00
0.42
0.71
7.58
16
5.76
0.81
0.20
0.00
0.44
0.71
7.92
17
6.05
0.86
0.20
0.00
0.46
0.71
8.27
18
6.35
0.90
0.20
0.00
0.48
0.71
8.65
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
19
20
40.61 42.93
8.43
8.43
0.00
0.00
21.41 22.45
30.33 30.33
100.77 104.14
2.37
2.45
19
6.67
0.96
0.20
0.00
0.50
0.71
9.04
19
0.072
20
7.00
1.01
0.20
0.00
0.53
0.71
9.45
20
0.062
2.77 Rs/Kwh
2.44 Rs/Kwh
5.21 Rs/Kwh
Page105

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.12
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 4.25
2.46
1.41 0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
Discounting Factor
Levellised benefit
1.00
0.28
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.08
0.07
(Rs/kWh)
Page106
Annexure 4c
Select State
Maharashtra

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
60%
60%
60%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate

Months
Months
1
15%
2
Months
%
4
12.75%
Kcal/kwh
Kcal/kwh
3600
3600
Biomass
Base Price(FY11-12)
Rs/T
1261
GCV - Biomass
Kcal/kg
2250
5%

Rs Lakh
%
13.35
14.92
5.72%
Page107

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.93
O&M expn
Rs/kWh
0.43
Depreciation
Rs/kWh
0.53
Int. on term loan
Rs/kWh
0.41
Rs/kWh
0.24
RoE
Rs/kWh
0.52
Total COG
Rs/kWh
5.07
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
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
1
14.92
29.49
37.12
9.65
24.01
115.20
2.40
2
15.77
29.49
33.21
9.96
24.01
112.45
2.34
3
16.68
29.49
29.31
10.28
24.01
109.77
2.28
4
17.63
29.49
25.40
10.63
24.01
107.16
2.23
5
18.64
29.49
21.49
10.99
24.01
104.63
2.18
6
19.71
29.49
17.58
11.38
24.01
102.18
2.12
7
20.83
29.49
13.68
11.80
24.01
99.81
2.08
8
22.02
29.49
9.77
12.24
24.01
97.54
2.03
9
23.28
29.49
5.86
12.71
24.01
95.36
1.98
10
24.62
29.49
1.95
13.20
24.01
93.28
1.94
11
26.02
8.43
0.00
13.45
30.33
78.23
1.63
12
27.51
8.43
0.00
14.09
30.33
80.36
1.67
13
29.09
8.43
0.00
14.76
30.33
82.61
1.72
14
30.75
8.43
0.00
15.47
30.33
84.98
1.77
15
32.51
8.43
0.00
16.21
30.33
87.48
1.82
16
34.37
8.43
0.00
16.99
30.33
90.12
1.87
17
36.33
8.43
0.00
17.81
30.33
92.90
1.93
18
38.41
8.43
0.00
18.67
30.33
95.84
1.99
19
40.61
8.43
0.00
19.58
30.33
98.95
2.06
20
42.93
8.43
0.00
20.53
30.33
102.22
2.13
1
2.20
0.31
0.61
0.77
0.20
0.50
4.60
2
2.32
0.33
0.61
0.69
0.21
0.50
4.65
3
2.43
0.35
0.61
0.61
0.21
0.50
4.71
4
2.55
0.37
0.61
0.53
0.22
0.50
4.78
5
2.68
0.39
0.61
0.45
0.23
0.50
4.86
6
2.81
0.41
0.61
0.37
0.24
0.50
4.94
7
2.95
0.43
0.61
0.28
0.25
0.50
5.03
8
3.10
0.46
0.61
0.20
0.25
0.50
5.13
9
3.26
0.48
0.61
0.12
0.26
0.50
5.24
10
3.42
0.51
0.61
0.04
0.27
0.50
5.36
11
3.59
0.54
0.18
0.00
0.28
0.63
5.22
12
3.77
0.57
0.18
0.00
0.29
0.63
5.44
13
3.96
0.60
0.18
0.00
0.31
0.63
5.68
14
4.16
0.64
0.18
0.00
0.32
0.63
5.92
15
4.37
0.68
0.18
0.00
0.34
0.63
6.18
16
4.58
0.71
0.18
0.00
0.35
0.63
6.46
17
4.81
0.76
0.18
0.00
0.37
0.63
6.74
18
5.05
0.80
0.18
0.00
0.39
0.63
7.05
19
5.31
0.84
0.18
0.00
0.41
0.63
7.36
20
5.57
0.89
0.18
0.00
0.43
0.63
7.70
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.20 Rs/Kwh
2.14 Rs/Kwh
4.34 Rs/Kwh
Page108

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.40
4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81
2.17
1.24 0.13 -0.10 -0.14 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.08
Discounting Factor
Levellised benefit
1.00
0.25
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.08
0.07
(Rs/kWh)
Page109
Annexure 4D
Select State
MP

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
53%
53%
53%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
Base Price(FY11-12)
Rs/T
GCV - Biomass
Kcal/kg
3600
3600
Biomass

Rs Lakh
%
908
2250
5%
13.35
14.92
5.72%
Page110

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.11
O&M expn
Rs/kWh
0.49
Depreciation
Rs/kWh
0.60
Int. on term loan
Rs/kWh
0.46
Rs/kWh
0.20
RoE
Rs/kWh
0.59
Total COG
Rs/kWh
4.45
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
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
1
14.92
29.49
37.12
7.14
24.01
112.69
2.65
2
15.77
29.49
33.21
7.32
24.01
109.81
2.58
3
16.68
29.49
29.31
7.51
24.01
107.00
2.52
4
17.63
29.49
25.40
7.72
24.01
104.25
2.45
5
18.64
29.49
21.49
7.94
24.01
101.58
2.39
6
19.71
29.49
17.58
8.18
24.01
98.97
2.33
7
20.83
29.49
13.68
8.43
24.01
96.45
2.27
8
22.02
29.49
9.77
8.71
24.01
94.00
2.21
9
23.28
29.49
5.86
9.00
24.01
91.65
2.16
10
24.62
29.49
1.95
9.30
24.01
89.38
2.10
11
26.02
8.43
0.00
9.36
30.33
74.14
1.75
12
27.51
8.43
0.00
9.79
30.33
76.06
1.79
13
29.09
8.43
0.00
10.25
30.33
78.10
1.84
14
30.75
8.43
0.00
10.73
30.33
80.24
1.89
15
32.51
8.43
0.00
11.24
30.33
82.51
1.94
16
34.37
8.43
0.00
11.77
30.33
84.90
2.00
17
36.33
8.43
0.00
12.33
30.33
87.42
2.06
18
38.41
8.43
0.00
12.92
30.33
90.09
2.12
19
40.61
8.43
0.00
13.53
30.33
92.90
2.19
20
42.93
8.43
0.00
14.18
30.33
95.88
2.26
1
1.59
0.35
0.69
0.87
0.17
0.57
4.24
2
1.67
0.37
0.69
0.78
0.17
0.57
4.25
3
1.75
0.39
0.69
0.69
0.18
0.57
4.27
4
1.84
0.42
0.69
0.60
0.18
0.57
4.29
5
1.93
0.44
0.69
0.51
0.19
0.57
4.32
6
2.03
0.46
0.69
0.41
0.19
0.57
4.36
7
2.13
0.49
0.69
0.32
0.20
0.57
4.40
8
2.23
0.52
0.69
0.23
0.20
0.57
4.45
9
2.35
0.55
0.69
0.14
0.21
0.57
4.50
10
2.46
0.58
0.69
0.05
0.22
0.57
4.57
11
2.59
0.61
0.20
0.00
0.22
0.71
4.33
12
2.72
0.65
0.20
0.00
0.23
0.71
4.51
13
2.85
0.68
0.20
0.00
0.24
0.71
4.69
14
3.00
0.72
0.20
0.00
0.25
0.71
4.88
15
3.14
0.77
0.20
0.00
0.26
0.71
5.09
16
3.30
0.81
0.20
0.00
0.28
0.71
5.30
17
3.47
0.86
0.20
0.00
0.29
0.71
5.53
18
3.64
0.90
0.20
0.00
0.30
0.71
5.76
19
3.82
0.96
0.20
0.00
0.32
0.71
6.01
20
4.01
1.01
0.20
0.00
0.33
0.71
6.27
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
1.59 Rs/Kwh
2.34 Rs/Kwh
3.93 Rs/Kwh
Page111

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.12
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 4.25
2.46
1.41 0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
Discounting Factor
Levellised benefit
1.00
0.28
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.08
0.07
(Rs/kWh)
Page112
Annexure 4E
Select State
Punjab

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
53%
53%
53%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3600
3600
Base Price(FY11-12)
Rs/T
1570
GCV - Biomass
Kcal/kg
2250
5%
Biomass

Rs Lakh
%
13.35
14.92
5.72%
Page113

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.65
O&M expn
Rs/kWh
0.49
Depreciation
Rs/kWh
0.60
Int. on term loan
Rs/kWh
0.46
Rs/kWh
0.30
RoE
Rs/kWh
0.59
Total COG
Rs/kWh
6.09
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
1
14.92
29.49
37.12
10.34
24.01
115.89
2.73
2
15.77
29.49
33.21
10.68
24.01
113.17
2.66
3
16.68
29.49
29.31
11.04
24.01
110.53
2.60
4
17.63
29.49
25.40
11.42
24.01
107.96
2.54
5
18.64
29.49
21.49
11.83
24.01
105.47
2.48
1
2.74
0.35
0.69
0.87
0.24
0.57
5.47
2
2.88
0.37
0.69
0.78
0.25
0.57
5.55
3
3.03
0.39
0.69
0.69
0.26
0.57
5.63
4
3.18
0.42
0.69
0.60
0.27
0.57
5.72
5
3.34
0.44
0.69
0.51
0.28
0.57
5.82
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
1
4.64
0.39
4.25
7
1
4.64
0.39
4.25
6
7
19.71 20.83
29.49 29.49
17.58 13.68
12.26 12.72
24.01 24.01
103.06 100.74
2.43
2.37
6
3.50
0.46
0.69
0.41
0.29
0.57
5.93
6
0.482
7
3.68
0.49
0.69
0.32
0.30
0.57
6.05
7
0.416
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
16
1
4.64
0.39
4.25
17
1
4.64
0.39
4.25
18
1
4.64
0.39
4.25
8
22.02
29.49
9.77
13.21
24.01
98.51
2.32
9
23.28
29.49
5.86
13.72
24.01
96.37
2.27
10
24.62
29.49
1.95
14.27
24.01
94.34
2.22
11
26.02
8.43
0.00
14.57
30.33
79.35
1.87
12
27.51
8.43
0.00
15.26
30.33
81.54
1.92
13
29.09
8.43
0.00
16.00
30.33
83.84
1.97
14
30.75
8.43
0.00
16.76
30.33
86.27
2.03
15
32.51
8.43
0.00
17.57
30.33
88.84
2.09
16
34.37
8.43
0.00
18.42
30.33
91.55
2.16
17
36.33
8.43
0.00
19.31
30.33
94.41
2.22
18
38.41
8.43
0.00
20.25
30.33
97.42
2.29
8
3.86
0.52
0.69
0.23
0.31
0.57
6.18
9
4.06
0.55
0.69
0.14
0.32
0.57
6.32
10
4.26
0.58
0.69
0.05
0.34
0.57
6.48
11
4.47
0.61
0.20
0.00
0.34
0.71
6.34
12
4.69
0.65
0.20
0.00
0.36
0.71
6.61
13
4.93
0.68
0.20
0.00
0.38
0.71
6.90
14
5.18
0.72
0.20
0.00
0.39
0.71
7.21
15
5.43
0.77
0.20
0.00
0.41
0.71
7.53
16
5.71
0.81
0.20
0.00
0.43
0.71
7.86
17
5.99
0.86
0.20
0.00
0.45
0.71
8.21
18
6.29
0.90
0.20
0.00
0.48
0.71
8.58
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
1
4.64
0.39
4.25
20
1
4.64
0.39
4.25
19
20
40.61 42.93
8.43
8.43
0.00
0.00
21.24 22.27
30.33 30.33
100.60 103.96
2.37
2.45
19
6.61
0.96
0.20
0.00
0.50
0.71
8.97
19
0.072
20
6.94
1.01
0.20
0.00
0.52
0.71
9.38
20
0.062
2.74 Rs/Kwh
2.44 Rs/Kwh
5.19 Rs/Kwh
Page114

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.12
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 4.25
2.46
1.41 0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
Discounting Factor
Levellised benefit
1.00
0.28
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.08
0.07
(Rs/kWh)
Page115
Annexure 4F
Select State
TN

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
60%
60%
60%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3600
3600
Base Price(FY11-12)
Rs/T
1396
GCV - Biomass
Kcal/kg
2250
5%
Biomass

Rs Lakh
%
13.35
14.92
5.72%
Page116

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.24
O&M expn
Rs/kWh
0.43
Depreciation
Rs/kWh
0.53
Int. on term loan
Rs/kWh
0.41
Rs/kWh
0.27
RoE
Rs/kWh
0.52
Total COG
Rs/kWh
5.40
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
1
14.92
29.49
37.12
10.39
24.01
115.94
2.41
2
15.77
29.49
33.21
10.73
24.01
113.22
2.35
3
16.68
29.49
29.31
11.10
24.01
110.58
2.30
4
17.63
29.49
25.40
11.48
24.01
108.02
2.25
5
18.64
29.49
21.49
11.89
24.01
105.53
2.19
1
2.44
0.31
0.61
0.77
0.22
0.50
4.85
2
2.56
0.33
0.61
0.69
0.22
0.50
4.92
3
2.69
0.35
0.61
0.61
0.23
0.50
4.99
4
2.83
0.37
0.61
0.53
0.24
0.50
5.07
5
2.97
0.39
0.61
0.45
0.25
0.50
5.16
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
1
5.26
0.45
4.81
7
1
5.26
0.45
4.81
6
7
19.71 20.83
29.49 29.49
17.58 13.68
12.33 12.79
24.01 24.01
103.12 100.80
2.14
2.10
6
3.11
0.41
0.61
0.37
0.26
0.50
5.26
6
0.482
7
3.27
0.43
0.61
0.28
0.27
0.50
5.37
7
0.416
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
16
1
5.26
0.45
4.81
17
1
5.26
0.45
4.81
18
1
5.26
0.45
4.81
8
22.02
29.49
9.77
13.28
24.01
98.58
2.05
9
23.28
29.49
5.86
13.80
24.01
96.45
2.01
10
24.62
29.49
1.95
14.35
24.01
94.42
1.96
11
26.02
8.43
0.00
14.65
30.33
79.43
1.65
12
27.51
8.43
0.00
15.35
30.33
81.62
1.70
13
29.09
8.43
0.00
16.09
30.33
83.93
1.75
14
30.75
8.43
0.00
16.86
30.33
86.37
1.80
15
32.51
8.43
0.00
17.67
30.33
88.94
1.85
16
34.37
8.43
0.00
18.52
30.33
91.65
1.91
17
36.33
8.43
0.00
19.42
30.33
94.52
1.97
18
38.41
8.43
0.00
20.36
30.33
97.54
2.03
8
3.43
0.46
0.61
0.20
0.28
0.50
5.48
9
3.61
0.48
0.61
0.12
0.29
0.50
5.61
10
3.79
0.51
0.61
0.04
0.30
0.50
5.75
11
3.98
0.54
0.18
0.00
0.30
0.63
5.63
12
4.17
0.57
0.18
0.00
0.32
0.63
5.87
13
4.38
0.60
0.18
0.00
0.33
0.63
6.13
14
4.60
0.64
0.18
0.00
0.35
0.63
6.40
15
4.83
0.68
0.18
0.00
0.37
0.63
6.68
16
5.07
0.71
0.18
0.00
0.39
0.63
6.98
17
5.33
0.76
0.18
0.00
0.40
0.63
7.29
18
5.59
0.80
0.18
0.00
0.42
0.63
7.62
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
1
5.26
0.45
4.81
20
1
5.26
0.45
4.81
19
20
40.61 42.93
8.43
8.43
0.00
0.00
21.36 22.40
30.33 30.33
100.72 104.09
2.09
2.16
19
5.87
0.84
0.18
0.00
0.44
0.63
7.97
19
0.072
20
6.17
0.89
0.18
0.00
0.47
0.63
8.33
20
0.062
2.44 Rs/Kwh
2.16 Rs/Kwh
4.60 Rs/Kwh
Page117

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.40
4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81 4.81
2.17
1.24 0.13 -0.10 -0.14 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.15 -0.08
Discounting Factor
Levellised benefit
1.00
0.25
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.81
0.00
0.00
0.00
4.81
0.00
0.08
0.07
(Rs/kWh)
Page118
Annexure 4G
Select State
UP

S. No.
Assumption Head
1 Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
45%
45%
45%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3600
3600
Base Price(FY11-12)
Rs/T
1137
GCV - Bagasse
Bagasse Price Escalation Factor
Kcal/kg
2250
5%
Biomass

Rs Lakh
%
13.35
14.92
5.72%
Page119
Page120

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
2.64
O&M expn
Rs/kWh
0.57
Depreciation
Rs/kWh
0.71
Int. on term loan
Rs/kWh
0.54
Rs/kWh
0.24
RoE
Rs/kWh
0.70
Total COG
Rs/kWh
5.41
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
16
1
3.94
0.34
3.61
17
1
3.94
0.34
3.61
18
1
3.94
0.34
3.61
19
1
3.94
0.34
3.61
20
1
3.94
0.34
3.61
1
14.92
29.49
37.12
7.42
24.01
112.97
3.13
2
15.77
29.49
33.21
7.61
24.01
110.10
3.05
3
16.68
29.49
29.31
7.82
24.01
107.31
2.98
4
17.63
29.49
25.40
8.04
24.01
104.58
2.90
5
18.64
29.49
21.49
8.28
24.01
101.91
2.83
6
19.71
29.49
17.58
8.53
24.01
99.33
2.75
7
20.83
29.49
13.68
8.81
24.01
96.82
2.68
8
22.02
29.49
9.77
9.10
24.01
94.39
2.62
9
23.28
29.49
5.86
9.41
24.01
92.06
2.55
10
24.62
29.49
1.95
9.74
24.01
89.81
2.49
11
26.02
8.43
0.00
9.81
30.33
74.59
2.07
12
27.51
8.43
0.00
10.27
30.33
76.54
2.12
13
29.09
8.43
0.00
10.75
30.33
78.59
2.18
14
30.75
8.43
0.00
11.25
30.33
80.76
2.24
15
32.51
8.43
0.00
11.79
30.33
83.05
2.30
16
34.37
8.43
0.00
12.35
30.33
85.47
2.37
17
36.33
8.43
0.00
12.93
30.33
88.03
2.44
18
38.41
8.43
0.00
13.55
30.33
90.72
2.52
19
40.61
8.43
0.00
14.20
30.33
93.57
2.59
20
42.93
8.43
0.00
14.89
30.33
96.58
2.68
1
1.99
0.41
0.82
1.03
0.21
0.67
5.12
2
2.09
0.44
0.82
0.92
0.21
0.67
5.14
3
2.19
0.46
0.82
0.81
0.22
0.67
5.17
4
2.30
0.49
0.82
0.70
0.22
0.67
5.20
5
2.42
0.52
0.82
0.60
0.23
0.67
5.24
6
2.54
0.55
0.82
0.49
0.24
0.67
5.29
7
2.67
0.58
0.82
0.38
0.24
0.67
5.35
8
2.80
0.61
0.82
0.27
0.25
0.67
5.42
9
2.94
0.65
0.82
0.16
0.26
0.67
5.49
10
3.09
0.68
0.82
0.05
0.27
0.67
5.58
11
3.24
0.72
0.23
0.00
0.27
0.84
5.31
12
3.40
0.76
0.23
0.00
0.28
0.84
5.52
13
3.57
0.81
0.23
0.00
0.30
0.84
5.75
14
3.75
0.85
0.23
0.00
0.31
0.84
5.99
15
3.94
0.90
0.23
0.00
0.33
0.84
6.24
16
4.13
0.95
0.23
0.00
0.34
0.84
6.50
17
4.34
1.01
0.23
0.00
0.36
0.84
6.78
18
4.56
1.06
0.23
0.00
0.38
0.84
7.07
19
4.79
1.13
0.23
0.00
0.39
0.84
7.38
20
5.03
1.19
0.23
0.00
0.41
0.84
7.70
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
1.99 Rs/Kwh
2.77 Rs/Kwh
4.76 Rs/Kwh
Page121

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
1.80
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 3.61
2.90
1.66 0.17 -0.13 -0.19 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.20 -0.11
Discounting Factor
Levellised benefit
1.00
0.33
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
3.61
0.00
0.00
0.00
3.61
0.00
0.08
0.07
(Rs/kWh)
Page122
Annexure 4H
Select State
Others

S. No.
1
Assumption Head
Power Generation
Sub-Head
Sub-Head (2)
Unit
Assumptions
Capacity
Useful Life
MW
%
%
%
%
%
Years
1
9%
9%
53%
53%
53%
20
Power Plant Cost
Rs Lacs/MW
Debt
Equity
Total Debt Amount
Total Equity Amout
%
%
Rs Lacs
Rs Lacs
70%
30%
294.91
126.39
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
294.91
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
126.39
19.00%
10.00
24.00%
2 Project Cost
Capital Cost/MW
421.30
Debt: Equity
Debt Component
Equity Component

4
21.50%
15.73%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
7.00%
2.00%
10.00
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Biomass Stock
6

Heat Rate
Months
Months
1
15%
2
Months
%
4
12.75%

Kcal/kwh
Kcal/kwh
3600
3600
Base Price(FY11-12)
Rs/T
1306
GCV - Bagasse
Bagasse Price Escalation Factor
Kcal/kg
2250
5%
Biomass

Rs Lakh
%
13.35
14.92
5.72%
Page123

Units Generation
Installed Capacity
Gross Generation
Net Generation
Unit
MW
MU
MU
MU
Year--->
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
3.03
O&M expn
Rs/kWh
0.49
Depreciation
Rs/kWh
0.60
Int. on term loan
Rs/kWh
0.46
Rs/kWh
0.26
RoE
Rs/kWh
0.59
Total COG
Rs/kWh
5.43
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
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
1
14.92
29.49
37.12
9.06
24.01
114.61
2.70
2
15.77
29.49
33.21
9.34
24.01
111.83
2.63
3
16.68
29.49
29.31
9.63
24.01
109.12
2.57
4
17.63
29.49
25.40
9.95
24.01
106.48
2.51
5
18.64
29.49
21.49
10.28
24.01
103.91
2.45
6
19.71
29.49
17.58
10.63
24.01
101.43
2.39
7
20.83
29.49
13.68
11.01
24.01
99.02
2.33
8
22.02
29.49
9.77
11.41
24.01
96.71
2.28
9
23.28
29.49
5.86
11.84
24.01
94.49
2.22
10
24.62
29.49
1.95
12.29
24.01
92.36
2.17
11
26.02
8.43
0.00
12.49
30.33
77.27
1.82
12
27.51
8.43
0.00
13.08
30.33
79.35
1.87
13
29.09
8.43
0.00
13.70
30.33
81.55
1.92
14
30.75
8.43
0.00
14.36
30.33
83.87
1.97
15
32.51
8.43
0.00
15.04
30.33
86.31
2.03
16
34.37
8.43
0.00
15.77
30.33
88.89
2.09
17
36.33
8.43
0.00
16.53
30.33
91.62
2.16
18
38.41
8.43
0.00
17.32
30.33
94.50
2.22
19
40.61
8.43
0.00
18.16
30.33
97.53
2.30
20
42.93
8.43
0.00
19.04
30.33
100.74
2.37
1
2.28
0.35
0.69
0.87
0.21
0.57
4.98
2
2.40
0.37
0.69
0.78
0.22
0.57
5.03
3
2.52
0.39
0.69
0.69
0.23
0.57
5.09
4
2.64
0.42
0.69
0.60
0.23
0.57
5.15
5
2.78
0.44
0.69
0.51
0.24
0.57
5.22
6
2.91
0.46
0.69
0.41
0.25
0.57
5.30
7
3.06
0.49
0.69
0.32
0.26
0.57
5.39
8
3.21
0.52
0.69
0.23
0.27
0.57
5.49
9
3.37
0.55
0.69
0.14
0.28
0.57
5.60
10
3.54
0.58
0.69
0.05
0.29
0.57
5.72
11
3.72
0.61
0.20
0.00
0.29
0.71
5.54
12
3.91
0.65
0.20
0.00
0.31
0.71
5.77
13
4.10
0.68
0.20
0.00
0.32
0.71
6.02
14
4.31
0.72
0.20
0.00
0.34
0.71
6.28
15
4.52
0.77
0.20
0.00
0.35
0.71
6.55
16
4.75
0.81
0.20
0.00
0.37
0.71
6.84
17
4.98
0.86
0.20
0.00
0.39
0.71
7.14
18
5.23
0.90
0.20
0.00
0.41
0.71
7.46
19
5.50
0.96
0.20
0.00
0.43
0.71
7.79
20
5.77
1.01
0.20
0.00
0.45
0.71
8.14
1
1
2
0.864
3
0.747
4
0.645
5
0.558
6
0.482
7
0.416
8
0.360
9
0.311
10
0.269
11
0.232
12
0.201
13
0.173
14
0.150
15
0.129
16
0.112
17
0.097
18
0.084
19
0.072
20
0.062
2.28 Rs/Kwh
2.40 Rs/Kwh
4.68 Rs/Kwh
Page124

Depreciation amount
Income Tax (MAT)
Capital Cost
90%
5.28%
80%
19.9305%
33.2175%
421.3
Years
----------------->
Book Depreciation
Book Depreciation
Unit
%
Rs Lakh
1
2.64%
11.12
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
60% 12%
2%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
40% 48.00% 9.60% 1.92% 0.38% 0.08% 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%
60%
12% 2.40% 0.48% 0.10% 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%
168.52 202.22 40.44 8.09 1.62 0.32 0.06 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

Tax Benefit
Per unit benefit
Rs Lakh
Rs Lakh
MU
Rs/Unit
157.40 179.98 18.20 -14.16 -20.63 -21.92 -22.18 -22.23 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -22.24 -12.13
52.28 59.78 6.05 -4.70 -6.85 -7.28 -7.37 -7.38 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -7.39 -4.03
2.12
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 4.25
2.46
1.41 0.14 -0.11 -0.16 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.17 -0.09
Discounting Factor
Levellised benefit
1.00
0.28
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%
22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 22.24 12.13 0.00 0.00
0.93
0.80
0.69
0.60
0.52
0.45
0.39
0.33
0.29
0.25
0.22
0.19
0.16
0.14
0.12
0.10
0.09
0.00
0.00
4.25
0.00
0.00
0.00
4.25
0.00
0.08
0.07
(Rs/kWh)
Page125
Annexure 5A
AssumptionforSolarPVPowerProjectsParameters
Assumpion
for Solar PV Power Projects Parameters
S. No.
1
Assumption
Sub-Head
Head
Sub-Head (2)
Unit
Asumptions
Power Generation
Capacity
Deration Factor
Useful Life
MW
%
%
Years
1
19.0%
0.0%
25
Power Plant Cost
Rs Lacs/MW
Tariff Period
Years
Debt
Equity
Total Debt Amount

Total Equity Amout
Rs Lacs
Rs Lacs
1009.40
432.60
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
1009.40
0
10
13.25%
Equity amount
RoE Period
Rs Lacs
% p.a
Year
% p.a
432.60
19.00%
10
24.00%
22.00%
2 Project Cost
Capital Cost/MW
1442
25
Debt: Equity
70%
30%
Debt Component
Equity Component
Discount Rate
4
15.88%
Fiscal Assumptions
Income Tax
80 IA benefits
%
%
Yes/No

%
%
33.21750%
19.9305%
Yes
Depreciation
Years for 7% rate
7.00%
1.33%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
Months
%
1
15%
2
12.75%

Rs Lakh
%
9
10.06
5.72%
Page126
Determination of Tariff for Solar PV

Units Generation
Unit
Installed Capacity
Gross Generation
MW
MU
Fixed Cost
Unit
Year--->
Year--->
O&M Expenses
Rs Lakh
Depreciation
Rs Lakh
Rs Lakh
Interest on working Capital Rs Lakh
Return on Equity
Rs Lakh
Total Fixed Cost
Rs Lakh
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
1
1.66
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
10.06
100.94
127.06
7.26
82.19
327.51
10.63
100.94
113.68
7.00
82.19
314.45
11.24
100.94
100.31
6.74
82.19
301.43
11.89
100.94
86.93
6.48
82.19
288.44
12.57
100.94
73.56
6.23
82.19
275.49
13.28
100.94
60.19
5.98
82.19
262.58
14.04
100.94
46.81
5.72
82.19
249.71
14.85
100.94
33.44
5.48
82.19
236.89
15.70
100.94
20.06
5.23
82.19
224.12
16.59
100.94
6.69
4.99
82.19
211.40
17.54
19.23
0.00
3.59
103.82
144.18
18.55
19.23
0.00
3.64
103.82
145.24
19.61
19.23
0.00
3.69
103.82
146.35
20.73
19.23
0.00
3.75
103.82
147.53
21.92
19.23
0.00
3.81
103.82
148.78
23.17
19.23
0.00
3.88
103.82
150.10
24.49
19.23
0.00
3.95
103.82
151.49
25.90
19.23
0.00
4.02
103.82
152.97
27.38
19.23
0.00
4.10
103.82
154.53
28.94
19.23
0.00
4.18
103.82
156.17
30.60
19.23
0.00
4.27
103.82
157.92
32.35
19.23
0.00
4.36
103.82
159.76
34.20
19.23
0.00
4.45
103.82
161.70
36.16
19.23
0.00
4.56
103.82
163.76
38.22
19.23
0.00
4.66
103.82
165.94
Levellised COG
Unit
Levellised
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
Rs/kWh
0.87
0.60
0.64
0.68
0.71
0.75
0.80
0.84
0.89
0.94
1.00
1.05
1.11
1.18
1.25
1.32
1.39
1.47
1.56
1.64
1.74
1.84
1.94
2.05
2.17
2.30
Depreciation
Rs/kWh
5.04
6.06
6.06
6.06
6.06
6.06
6.06
6.06
6.06
6.06
6.06
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
1.16
Int. on term loan
Rs/kWh
3.92
7.63
6.83
6.03
5.22
4.42
3.62
2.81
2.01
1.21
0.40
0.00
0.00
0.00
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
0.35
0.44
0.42
0.40
0.39
0.37
0.36
0.34
0.33
0.31
0.30
0.22
0.22
0.22
0.23
0.23
0.23
0.24
0.24
0.25
0.25
0.26
0.26
0.27
0.27
0.28
RoE
Rs/kWh
5.21
4.94
4.94
4.94
4.94
4.94
4.94
4.94
4.94
4.94
4.94
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
6.24
15.39
19.68
18.89
18.11
17.33
16.55
15.78
15.00
14.23
13.47
12.70
8.66
8.73
8.79
8.86
8.94
9.02
9.10
9.19
9.28
9.38
9.49
9.60
9.72
9.84
9.97
0.229
256.23
0.198
256.23
0.171
256.23
0.147
256.23
0.127
256.23
0.110
256.23
0.095
256.23
0.082
256.23
0.070
256.23
0.061
256.23
0.053
256.23
0.045
256.23
0.039
256.23
0.034
256.23
0.029
256.23
O&M expn
Total COG
Discount Factor
Fixed Cost
Levellised Tariff
Rs/kWh
Levellised
15.39
15.39
1
256.23
0.863
256.23
0.745
256.23
0.643
256.23
0.555
256.23
0.479
256.23
0.413
256.23
0.357
256.23
0.308
256.23
0.266
256.23
Rs/Unit
Page127
Determination of Accelerated Depreciation Benefit for Solar PV Power Projects

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
90%
5.28%
80%
19.9305%
33.2175%
1442.0
Unit
Rs Lakh
1
2.64%
38.07
2
5.28%
76.14
3
5.28%
76.14
4
5.28%
76.14
5
5.28%
76.14
6
5.28%
76.14
7
5.28%
76.14
8
5.28%
76.14
9
5.28%
76.14
10
5.28%
76.14
11
5.28%
76.14
12
5.28%
76.14
13
5.28%
76.14
14
5.28%
76.14
15
5.28%
76.14
16
5.28%
76.14
17
5.28%
76.14
18
2.88%
41.53
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
576.80
60%
48.00%
12%
692.16
12%
9.60%
2.40%
138.43
2%
1.92%
0.48%
27.69
0%
0.38%
0.10%
5.54
0%
0.08%
0.02%
1.11
0%
0.02%
0.00%
0.22
0%
0.00%
0.00%
0.04
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00

Tax Benefit
Energy generation
Discounting Factor
Rs Lakh
Rs Lakh
MU
538.73
178.95
0.83
1.00
616.02
204.63
1.66
0.93
0.93
62.29
20.69
1.66
0.80
0.80
-48.45
-16.09
1.66
0.69
0.69
-70.60
-23.45
1.66
0.60
0.60
-75.03
-24.92
1.66
0.52
0.52
-75.92
-25.22
1.66
0.44
0.44
-76.09
-25.28
1.66
0.38
0.38
-76.13
-25.29
1.66
0.33
0.33
-76.14
-25.29
1.66
0.29
0.29
-76.14
-25.29
1.66
0.25
0.25
-76.14
-25.29
1.66
0.21
0.21
-76.14
-25.29
1.66
0.18
0.18
-76.14
-25.29
1.66
0.16
0.16
-76.14
-25.29
1.66
0.14
0.14
-76.14
-25.29
1.66
0.12
0.12
-76.14
-25.29
1.66
0.10
0.10
-41.53
-13.80
1.66
0.09
0.09
0.00
0.00
1.66
0.08
0.08
0.00
0.00
1.66
0.07
0.07
Book Depreciation
Book Depreciation
Levellised benefit
2.45
Rs/Unit
Page128
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%
1050
450
Loan Amount
Moratorium Period
Interest Rate
Rs Lacs
years
years
%
1050.00
0
10
13.25%
Equity amount
RoE Period
Discount Rate
Rs Lacs
% p.a
Year
% p.a
450.00
19.00%
10
24.00%
22.00%
15.88%
Income Tax
80 IA benefits
%
%
Yes/No

Years for 7% rate
%
%
2 Project Cost
Capital Cost/MW
1500
3 Sources of Fund
25
Debt: Equity
Debt Component
Equity Component
Fiscal Assumptions
33.21750%
19.9305%
Yes
Depreciation
7.00%
1.33%
10
5 Working Capital
For Fixed Charges
O&M Charges
Maintenance Spare
Months
Months
1
15%
2
12.75%
14.53
5.72%
Page129
Determination
of Tariff Component - (Solar Thermal)
Discount Factor
1
Units Generation
Unit
Installed Capacity
Net Generation
MW
MU
Year--->
0.745
0.643
0.555
0.479
0.413
0.357
0.308
0.266
0.229
0.198
0.171
0.147
0.127
0.110
0.095
0.082
0.070
0.061
0.053
0.045
0.039
0.034
0.029
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
1
1.81
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
O&M Expenses
Depreciation
Rs Lakh
Rs Lakh
14.53
105.00
15.36
105.00
16.24
105.00
17.17
105.00
18.15
105.00
19.19
105.00
20.29
105.00
21.45
105.00
22.67
105.00
23.97
105.00
25.34
20.00
26.79
20.00
28.32
20.00
29.94
20.00
31.66
20.00
33.47
20.00
35.38
20.00
37.40
20.00
39.54
20.00
41.81
20.00
44.20
20.00
46.73
20.00
49.40
20.00
52.22
20.00
55.21
20.00

Return on Equity
Total Fixed Cost
Rs Lakh
Rs Lakh
Rs Lakh
Rs Lakh
132.17
7.76
85.50
344.96
118.26
7.50
85.50
331.62
104.34
7.25
85.50
318.33
90.43
6.99
85.50
305.09
76.52
6.74
85.50
291.91
62.61
6.50
85.50
278.79
48.69
6.25
85.50
265.73
34.78
6.01
85.50
252.74
20.87
5.77
85.50
239.81
6.96
5.54
85.50
226.96
0.00
4.10
108.00
157.44
0.00
4.18
108.00
158.97
0.00
4.25
108.00
160.58
0.00
4.34
108.00
162.28
0.00
4.43
108.00
164.08
0.00
4.52
108.00
165.99
0.00
4.62
108.00
168.00
0.00
4.73
108.00
170.13
0.00
4.84
108.00
172.38
0.00
4.96
108.00
174.76
0.00
5.08
108.00
177.28
0.00
5.21
108.00
179.94
0.00
5.35
108.00
182.75
0.00
5.50
108.00
185.72
0.00
5.66
108.00
188.87
Fixed Cost
Unit
Year--->
0.863
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
1.16
0.80
0.85
0.90
0.95
1.00
1.06
1.12
1.18
1.25
1.32
1.40
1.48
1.56
1.65
1.75
1.85
1.95
2.06
2.18
2.31
2.44
2.58
2.72
2.88
3.04
Depreciation
Rs/kWh
4.81
5.79
5.79
5.79
5.79
5.79
5.79
5.79
5.79
5.79
5.79
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
1.10
Int. on term loan
Rs/kWh
3.75
7.29
6.52
5.75
4.99
4.22
3.45
2.69
1.92
1.15
0.38
0.00
0.00
0.00
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
0.35
0.43
0.41
0.40
0.39
0.37
0.36
0.34
0.33
0.32
0.31
0.23
0.23
0.23
0.24
0.24
0.25
0.25
0.26
0.27
0.27
0.28
0.29
0.30
0.30
0.31
RoE
Total COG
Rs/kWh
Rs/kWh
4.97
4.72
4.72
4.72
4.72
4.72
4.72
4.72
4.72
4.72
4.72
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
5.96
15.04
19.02
18.29
17.56
16.83
16.10
15.37
14.65
13.94
13.23
12.52
8.68
8.77
8.86
8.95
9.05
9.15
9.26
9.38
9.51
9.64
9.78
9.92
10.08
10.24
10.42
Levellised
Levellised Tariff
15.04
Rs/Unit
Page130
Determination of Accelerated Depreciation Benefit for Solar Thermal Power Projects

Depreciation amount
Income Tax (MAT)
Capital Cost
Years
----------------->
90%
5.28%
80%
19.9305%
33.2175%
1500.0
Unit
%
Rs Lakh
1
2.64%
39.60
2
5.28%
79.20
3
5.28%
79.20
4
5.28%
79.20
5
5.28%
79.20
6
5.28%
79.20
7
5.28%
79.20
8
5.28%
79.20
9
5.28%
79.20
10
5.28%
79.20
11
5.28%
79.20
12
5.28%
79.20
13
5.28%
79.20
14
5.28%
79.20
15
5.28%
79.20
16
5.28%
79.20
17
5.28%
79.20
18
2.88%
43.20
19
0.00%
0.00
20
0.00%
0.00
Opening
Closing
Accelrated Deprn.
%
%
%
Rs Lakh
100%
40%
60%
600.00
60%
48.00%
12%
720.00
12%
9.60%
2.40%
144.00
2%
1.92%
0.48%
28.80
0%
0.38%
0.10%
5.76
0%
0.08%
0.02%
1.15
0%
0.02%
0.00%
0.23
0%
0.00%
0.00%
0.05
0%
0.00%
0.00%
0.01
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
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
0%
0.00%
0.00%
0.00

Tax Benefit
Energy generation
Discounting Factor
Rs Lakh
Rs Lakh
MU
560.40
186.15
0.91
1.00
640.80
212.86
1.81
0.93
64.80
21.52
1.81
0.80
-50.40
-16.74
1.81
0.69
-73.44
-24.39
1.81
0.60
-78.05
-25.93
1.81
0.52
-78.97
-26.23
1.81
0.44
-79.15
-26.29
1.81
0.38
-79.19
-26.31
1.81
0.33
-79.20
-26.31
1.81
0.29
-79.20
-26.31
1.81
0.25
-79.20
-26.31
1.81
0.21
-79.20
-26.31
1.81
0.18
-79.20
-26.31
1.81
0.16
-79.20
-26.31
1.81
0.14
-79.20
-26.31
1.81
0.12
-79.20
-26.31
1.81
0.10
-43.20
-14.35
1.81
0.09
0.00
0.00
1.81
0.08
0.00
0.00
1.81
0.07
Book Depreciation
Book Depreciation
Levellised benefit
2.34
Rs/Unit
Page131

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CENTRALELECTRICITYREGULATORYCOMMISSION

7. The Commission issued Order proposing the Determination of generic levellised

have been considered as mentioned by Indian Institute of Science (IIS), Bangalore.

4. In terms of Regulation 6 of the RE Regulations, the tariff period in respect of the RE

Provided that for renewable energy technologies having single

part tariff with two components, tariff shall be determined on levellised

application using water cooled condenser as ` 402.54lakh/MW for FY 201011. In

127.81 126.39 432.60 450.00

30. Regulation 15 of the RE Regulations provides for computation of depreciation in the

(3) Interest on Working Capital shall be at interest rate equivalent to average

(c) Biomass: Regulation 39 of RE Regulations provided that the normative O& M

Assessment of benefit shall be based on normative capital cost,

Per unit benefit shall be derived on levellised basis at discount factor

Assumpttions: Wind Energy

Powerr Plant Cost

Depreciation Rate for firrst 10 years

6 Operation & Ma intenance

Determination of Tariff Component

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation for Wind Power Projects

Book Depreciation rate

Income Tax (MAT)

Assumptions: Wind Energy Projects

Power Plant Cost

Depreciation Rate for first 10 years

6 Operation & Maintenance

Determination of Tariff Component

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation for Wind Power Projects

Book Depreciation rate

Income Tax (MAT)

Assumptions: Wind Energy Projects

Installed Power Generation Capacity

Power Plant Cost

Depreciation Rate for first 10 years

6 Operation & Maintenance

Determination of Tariff Component

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation for Wind Power Projects

Book Depreciation rate

Income Tax (MAT)

Assumptions: Wind Energy Projects

Power Plant Cost

Depreciation Rate for first 10 years

6 Operation & Maintenance

Determination of Tariff Component

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation for Wind Power Projects

Tax Depreciation rate

Book Depreciation rate

Allowed during the year

Net Depreciation Benefit

Power Plant Cost

Depreciation Rate for first 10 years

6 Operation & Maintenance

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation

Net Depreciation Benefit

Power Plant Cost

Depreciation Rate for first 10 years

6 Operation & Maintenance

Levallised tariff corresponding to Useful life

Determination of Accelerated Depreciation