Raport economic parc fotovoltaic

Economic analysis - CONSTRUIRE PARC FOTOVOLTAIC PETRILA 1

Economic report

Photovoltaic systemNominal power equal to 4897,44 kWp

Project name:

CONSTRUIRE PARC FOTOVOLTAIC PETRILA

Located inPETRILA

HALDA STERIL

CustomerCONSORTIUL PENTRU ENERGIE VERDE

- PETRILA ()

Designer

HUDA CONSTRUCT S.R.L.

- BUCURESTI ()

Date:

BUCURESTI, 21.09.2015


PURPOSE OF THIS DOCUMENT

The purpose of this report is the analysis of the economic aspects of the realization of a plant for

production of electrical energy, with a power of 4897,44 kWp, using photovoltaic conversion

named CONSTRUIRE PARC FOTOVOLTAIC PETRILA, be built at the site in HALDA STERIL,

PETRILA.


Characteristics of the system

Nominal power 4897,44 kWp

Number of PV modules 20406

Total area modules 34282,08 m˛

Tilt 37°

Azimuth 0°

Number of inverter 3

Estimated annual production of

energy11.624.210,83 kWh

Producibility 2.373,53 kWh/kWp

Connection to the grid Three-phase in Low voltage

Voltage supply 20.000,00 V

1 - EXPLANATORY REPORT

1.1 - DESCRIPTION OF THE SYSTEM

The photovoltaic system is composed of n° 20406 PV modules and n ° 3 inverters with a total

nominal power of 4897,44 kWp for an estimated annual production of energy equal to

11.624.210,83 kWh distributed over an area of 34282,08 m˛ and a producibility of 2.373,53

kWh/kWp.

The connection to the grid will be carried out according to a scheme Three-phase in Low voltage

with supply voltage 20.000,00 V.

1.2 - ENERGY PRODUCED

The energy produced by the plant on a yearly basis is 11.624.210,83 kWh, the following graph

shows the energy produced on a monthly basis:


Costs of realization

Total cost of the plant 35.000.000,00 lei

Specific cost 7.147,00 lei/kWp

Consumptions

Total annual consumption 0,00 kWh

Average cost of electricity withdrawn 0,15 lei/kWh

Share of self-consumption 0,00%

Annual increase of consumption 0,00%

1.3 - Costs

The estimated costs for the realization of plant are listed below:

Furthermore we consider the periodic costs and extraordinary for maintenance of the system:

1.4 - Energy consumption

The data required for the analysis of energy consumption are defined below:

1.5 - REVENUES

The data required for the analysis of revenues are defined below:


Nominal power 4897,44 kW

Estimated annual production of energy 11.624.210,83 kWh

Energy self-consumed annually 0,00%

Annual loss of system efficiency 0,70%

Total annual consumption 0,00 kWh

Annual increase of consumption 0,00%

Incentive fee

Feed-in tariff for the produced

energy0,00 lei/kWh

Feed-in tariff for energy fed into

the grid0,40 lei/kWh

Feed-in tariff for self-consumed

energy0,00 lei/kWh

Annual variation of feed-in tariff 0,00%

Financing

Capital to finance 35.000.000,00 lei

Term 25 years

Loan interest 0,00%

Frequency installment Annual

Installment amount 0,00 lei

Global financing: 0,00 lei

1.5.1 - Revenues from incentives on photovoltaic production

Is granted an incentive to photovoltaic production of energy and this incentive is acknowledged

for a period of 20 years from the date of entry into operation of the system.

Rates are applied to the 100,00% of the specific production of energy.The provision of incentives does not allow to enter into contracts for the sale or net metering of the energy produced by

the photovoltaic system.

1.6 - Taxes

1.7 - Financing1.6 - Financing


Inflation 2,00%

Energy price inflation 6,00%

Discount rate 4,00%

2 - Economic analysis

For economic analysis were considered the following rates:

The number of years required to return the initial investment through positive annual cash flow

is: 8,0 years. The overall gain of the investment is: 103.047.193,82 lei.

2.1 - ECONOMIC INDICATORS

2.1.1 - Net present value (NPV)

Net present value

2.1.2 - Cash flow


Economic analysis table

Year Production [kWh]Energy fed to grid

[kWh]

Energy

consumption

[kWh]

Self-consumption

[kWh]

Energy purchase

tariff [lei/kWh]

Energy taken from

grid

[kWh]

Revenue from net

metering [lei]

Revenue from energy

sale [lei]Total revenue [lei]

1 11.624.210,83 11.624.210,83 0,00 0,00 0 0,00 0 0 4.649.684,33

2 11.542.841,36 11.542.841,36 0,00 0,00 0 0,00 0 0 4.617.136,54

3 11.462.041,47 11.462.041,47 0,00 0,00 0 0,00 0 0 4.584.816,59

Cash flow

2.1.3 - Net profit

Net profit

2.2 - ECONOMIC ANALYSIS TABLE


4 11.381.807,18 11.381.807,18 0,00 0,00 0 0,00 0 0 4.552.722,87

5 11.302.134,53 11.302.134,53 0,00 0,00 0 0,00 0 0 4.520.853,81

6 11.223.019,59 11.223.019,59 0,00 0,00 0 0,00 0 0 4.489.207,83

7 11.144.458,45 11.144.458,45 0,00 0,00 0 0,00 0 0 4.457.783,38

8 11.066.447,24 11.066.447,24 0,00 0,00 0 0,00 0 0 4.426.578,90

9 10.988.982,11 10.988.982,11 0,00 0,00 0 0,00 0 0 4.395.592,84

10 10.912.059,23 10.912.059,23 0,00 0,00 0 0,00 0 0 4.364.823,69

11 10.835.674,82 10.835.674,82 0,00 0,00 0 0,00 0 0 4.334.269,93

12 10.759.825,10 10.759.825,10 0,00 0,00 0 0,00 0 0 4.303.930,04

13 10.684.506,32 10.684.506,32 0,00 0,00 0 0,00 0 0 4.273.802,53

14 10.609.714,78 10.609.714,78 0,00 0,00 0 0,00 0 0 4.243.885,91

15 10.535.446,77 10.535.446,77 0,00 0,00 0 0,00 0 0 4.214.178,71

16 10.461.698,65 10.461.698,65 0,00 0,00 0 0,00 0 0 4.184.679,46

17 10.388.466,75 10.388.466,75 0,00 0,00 0 0,00 0 0 4.155.386,70

18 10.315.747,49 10.315.747,49 0,00 0,00 0 0,00 0 0 4.126.298,99

19 10.243.537,26 10.243.537,26 0,00 0,00 0 0,00 0 0 4.097.414,90

20 10.171.832,49 10.171.832,49 0,00 0,00 0 0,00 0 0 4.068.733,00

21 10.100.629,67 10.100.629,67 0,00 0,00 0 0,00 0 0 3.887.290,52

22 10.029.925,26 10.029.925,26 0,00 0,00 0 0,00 0 0 4.091.684,26

23 9.959.715,78 9.959.715,78 0,00 0,00 0 0,00 0 0 4.306.825,02

24 9.889.997,77 9.889.997,77 0,00 0,00 0 0,00 0 0 4.533.277,88

25 9.820.767,79 9.820.767,79 0,00 0,00 0 0,00 0 0 4.771.637,63


Year

Revenue of feed-in

tariff on energy

produced [lei]

Revenue of feed-in

tariff on energy fed

into grid [lei]

Revenue of feed-in

tariff on energy

self-consumed [lei]

Saving on energy bill

[lei]

Maintenance costs

[lei]Financing [lei]

Loan capital amount

[lei]

Loan interest amount

[lei]Gross profit [lei]

1 0 4.649.684,33 0 0,00 175.000,00 4.474.684,33

2 0 4.617.136,54 0 0,00 178.500,00 4.438.636,54

3 0 4.584.816,59 0 0,00 182.070,00 4.402.746,59

4 0 4.552.722,87 0 0,00 185.711,40 4.367.011,47

5 0 4.520.853,81 0 0,00 189.425,63 4.331.428,18

6 0 4.489.207,83 0 0,00 193.214,14 4.295.993,69

7 0 4.457.783,38 0 0,00 197.078,42 4.260.704,96

8 0 4.426.578,90 0 0,00 201.019,99 4.225.558,90

9 0 4.395.592,84 0 0,00 205.040,39 4.190.552,45

10 0 4.364.823,69 0 0,00 209.141,20 4.155.682,49

11 0 4.334.269,93 0 0,00 213.324,02 4.120.945,90

12 0 4.303.930,04 0 0,00 217.590,50 4.086.339,53

13 0 4.273.802,53 0 0,00 221.942,31 4.051.860,21

14 0 4.243.885,91 0 0,00 226.381,16 4.017.504,75

15 0 4.214.178,71 0 0,00 230.908,78 3.983.269,93

16 0 4.184.679,46 0 0,00 235.526,96 3.949.152,50

17 0 4.155.386,70 0 0,00 240.237,50 3.915.149,20


18 0 4.126.298,99 0 0,00 245.042,25 3.881.256,75

19 0 4.097.414,90 0 0,00 249.943,09 3.847.471,81

20 0 4.068.733,00 0 0,00 254.941,96 3.813.791,04

21 0 0,00 0 0,00 260.040,79 3.627.249,73

22 0 0,00 0 0,00 265.241,61 3.826.442,65

23 0 0,00 0 0,00 270.546,44 4.036.278,58

24 0 0,00 0 0,00 275.957,37 4.257.320,51

25 0 0,00 0 0,00 281.476,52 4.490.161,11


Year Total tax [lei]Income subject to

tax [lei]Taxable income [lei] Depreciation [lei] Net profit [lei] Cash flow [lei]

Cumulative cash flow

[lei]

Net present value

(NPV) [lei]

1 0,00 0,00 -175.000,00 0 4.474.684,33 4.474.684,33 4.474.684,33 -30.697.418,91

2 0,00 0,00 -178.500,00 0 4.438.636,54 4.438.636,54 8.913.320,88 -26.593.649,92

3 0,00 0,00 -182.070,00 0 4.402.746,59 4.402.746,59 13.316.067,46 -22.679.624,23

4 0,00 0,00 -185.711,40 0 4.367.011,47 4.367.011,47 17.683.078,94 -18.946.684,52

5 0,00 0,00 -189.425,63 0 4.331.428,18 4.331.428,18 22.014.507,12 -15.386.566,29

6 0,00 0,00 -193.214,14 0 4.295.993,69 4.295.993,69 26.310.500,81 -11.991.380,07

7 0,00 0,00 -197.078,42 0 4.260.704,96 4.260.704,96 30.571.205,77 -8.753.594,48

8 0,00 0,00 -201.019,99 0 4.225.558,90 4.225.558,90 34.796.764,67 -5.666.019,98

9 0,00 0,00 -205.040,39 0 4.190.552,45 4.190.552,45 38.987.317,12 -2.721.793,41

10 0,00 0,00 -209.141,20 0 4.155.682,49 4.155.682,49 43.142.999,62 85.636,78

11 0,00 0,00 -213.324,02 0 4.120.945,90 4.120.945,90 47.263.945,52 2.762.524,66

12 0,00 0,00 -217.590,50 0 4.086.339,53 4.086.339,53 51.350.285,06 5.314.840,28

13 0,00 0,00 -221.942,31 0 4.051.860,21 4.051.860,21 55.402.145,27 7.748.282,52

14 0,00 0,00 -226.381,16 0 4.017.504,75 4.017.504,75 59.419.650,02 10.068.291,41

15 0,00 0,00 -230.908,78 0 3.983.269,93 3.983.269,93 63.402.919,95 12.280.059,81

16 0,00 0,00 -235.526,96 0 3.949.152,50 3.949.152,50 67.352.072,45 14.388.544,61

17 0,00 0,00 -240.237,50 0 3.915.149,20 3.915.149,20 71.267.221,65 16.398.477,47

18 0,00 0,00 -245.042,25 0 3.881.256,75 3.881.256,75 75.148.478,40 18.314.374,94

19 0,00 0,00 -249.943,09 0 3.847.471,81 3.847.471,81 78.995.950,20 20.140.548,29

20 0,00 0,00 -254.941,96 0 3.813.791,04 3.813.791,04 82.809.741,25 21.881.112,73

21 0,00 0,00 -260.040,79 0 3.627.249,73 3.627.249,73 86.436.990,98 23.472.871,80

22 0,00 0,00 -265.241,61 0 3.826.442,65 3.826.442,65 90.263.433,63 25.087.459,89

23 0,00 0,00 -270.546,44 0 4.036.278,58 4.036.278,58 94.299.712,20 26.725.084,39

24 0,00 0,00 -275.957,37 0 4.257.320,51 4.257.320,51 98.557.032,71 28.385.956,55

25 0,00 0,00 -281.476,52 0 4.490.161,11 4.490.161,11 103.047.193,82 30.070.291,42

2.2.1 - DEFINITIONS OF ECONOMIC ANALYSIS TABLE

Production [kWh]: Energy production estimated by the program. Also

matches the Energy fed to grid + Self-consumption.


Energy fed to grid [kWh]: Energy produced by the system and fed into

the grid because not consumed by users of the PV system.

Energy consumption [kWh]: Annual energy consumption, including any

increases in consumption. Also matches Self-consumption + Energy

taken from the grid.

Self-consumption [kWh]: The amount of energy produced by the

system and at the same time consumed by the users of system.

Energy taken from grid [kWh]: Energy consumed by the user and

coming from the grid.

Revenue of feed-in tariff on energy produced [lei]: Energy produced *

Feed-in tariff for the produced energy.

Revenue of feed-in tariff on energy fed into grid [lei]: Energy fed into

grid * Feed-in tariff for energy fed to the grid.

Revenue of feed-in tariff on energy self-consumed [lei]: Energy

self-consumed * Feed-in tariff for self-consumed energy.

Revenue from energy sale [lei]: Energy fed into grid * sale price.

Total revenue [lei]: Revenu of feed-in tariff + Revenue from energy

sale.

Energy purchase tariff [lei/kWh]: Energy purchase tariff revalued

annually by the Energy price inflation.

Saving on energy bill [lei]: Savings due to non-purchase of energy.

Calculated as Self-consumption * Energy purchase tariff.

Maintenance costs [lei]: Cost of maintenance periodic and

extraordinary.

Depreciation [lei]: Depreciation of the system, calculated for each year

as the Realization cost * System depreciation * Annual Depreciation.

Financing [lei]: Amount of annual installment with financing. The

amount is calculated by the program based on the capital to be

financed. Also matches Loan capital amount + Loan interest amount.

Loan capital amount [lei]: Principal portion of the installment loan.

Loan interest amount [lei]: Interest portion of the installment loan.

Gross profit [lei]: Total revenue + Saving on energy bill - Maintenance


costs - Depreciation - Loan interest amount.

Total tax [lei]: Taxable income * Tax rate for income.

Income subject to tax [lei]: Part of the Total revenue subject to tax.

Taxable income [lei]: Refers to the basis upon which an income tax

system imposes the taxes, calculated for each year as Income subject

to tax - Maintenance costs - Depreciation. Note that the program does

not handle tax credits, so if Taxable income is negative then Total tax

will be forced to zero.

Net profit [lei]: Gross profit - Total tax.

Cash flow [lei]: Net profit + Depreciation - Loan capital amount.

Cumulative cash flow [lei]: cash flow of year + cash flow of previous

year. The first year is calculated as: cash flow of year - system cost +

amount to be financed.

Net present value (NPV) [lei]: By calculating the NPV is established the

convenience expected of investment, by discounting the future cash

flows in order to detect the present value of the investment.

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