IPP Utility Scale Solar PV Project Development Roadmap

IPP Solar PV Project Development
Roadmap
Bankable Approach !
1
IPP Solar PV Project Development Roadmap ©Fadi Maalouf Ref.: IPP-PV-Roadmap-fm170502-R2 2-May-2017

Document History2
Document Title / Number Rev. Description Of Change Effective Date
IPP Solar PV Project Development Roadmap
PV-Project-Development-Roadmap-fm1700417-R1
R1 Initial Release – Draft For Information 17-Apr-2017
PV-Project-Development-Roadmap-fm170502-R2
R2 2nd Release – Minor Edits & Improvements 2-May-2017
F2M2 Name Designation Signature Date
Fadi Maalouf Director 2-May-2017
DOCUMENT CHANGE HISTORY RECORD SHEET

Outline
 Introduction
 IPP Solar PV Project Development Roadmap
 8-Phase Bankable Approach
 Contact
3

4
Introduction
 The Purpose Of This Presentation Is To Provide A Concise1 Overview IPP Utility Scale
Solar PV Project Development Process, Cradle To Grave.
 As Much As Possible, The Roadmap Is Described In Generic Nature, Since The
Development Process Is Unique To The Jurisdiction Of Development.
 Nonetheless, Major Elements Of The Process Remain Valid For Most Developments.
 The Presentation Does Not Address All The Fine Details. However, Key Critical
Components Are Highlighted And Discussed.
 In a Cross-Border Multi-Stakeholder Development Process, It Is Important to:
 Understand Scope of Work & Compliance Necessities
 Meticulously Plan
 Execute With Monitoring & Control In Place
 A Successful & Bankable Approach Is Achieved When Expertise Are Integrated With Good
Communication, Negotiation, Risk Management, & Competitiveness.
1 This PPT is the short version. Layout is dense as slides were compacted !

IPP Solar PV Project Development Roadmap5
Phase
1
• Business
Development
Phase
2
• Pre-
Feasibility
Study
Phase
3
• Feasibility
Study
Phase
4
• Contracts
& Financial
Close
Phase
5
• Detailed
Design &
Permitting
Phase
6
• Procurement
&
Construction
Phase
7 • Testing &
Acceptance
Phase
8 • O&M
Gate 1
• Corp RM Doc 1
Gate 2
• Corp RM Doc 2
Gate 3
• Corp RM Doc 3
Gate 4
• Corp RM Doc 4
Gate 5
• Corp RM Doc 5
Gate
62
• Corp RM Doc 6
Gate 7
• Corp RM Doc 7
Gate 8
• Corp RM Doc 8

Phase 1: Business Development
 Project Opportunity Identification & Pre-Screening (Documented Sales Funnel
Process, CRM)
 Alignment with Corporate Vision, Mission, & Strategic Business Plan
 Risk Management Compliance Gateway: Initial Assessment
 Geographical Market Risk Clearance
 Site Identification, Direct Proposal or PPP or Receipt of RFQ / RFP / ITB
 Concept Development, Rough Order of Magnitude
 Corporate Risk Thresholds & Approval Matrix Clearance
 Go-NoGo Techno-Commercial Review & Assessment Form
 e.g site particulars, project structure, regulatory framework & risks, grid access
& infrastructure, off-taker due diligence, initial finance plan / benchmark term
sheet, competitiveness
 Go-NoGo & Bid-Win BD Committee Approval for Next Phase: 2
 Required Resources
 Required Budget
6

Phase 2: Pre-Feasibility Study
 Site Visit (Initial Survey) to Identify Key Constraints & Challenges, Land Lease/Access, Including
Boundary Areas Concerns
 Conceptual Design & Assessment of Various Technical Solutions, Including grid Connection
 Project Estimated Cost Plan (Development/Capex/Opex/Finance)
 Estimated Energy Yield, PVsyst, P50 Based on Credible Solar Resource Data
 Estimated Energy Tariff based on Incentives/FIT/N.Meter/PPA/Lease/ESCO
 Pre-Feasibility Financial Model Development & Est. IRR, w/ Benchmark Term Sheet
 Initial Sensitivity/Scenario Analysis Model (1D & 2D Tables, +/- up to 30% parameter variances)
 Identification of Initial Environmental and Social Impacts
 Initial Licensing & Permitting Roadmap & Estimated Cost, Success Factors including Estimated
Timelines
 Overall Market Review Including Regulatory Changes/Risks
 Identification of Project Stakeholders and Respective Agreement/Contracts Types
 Selection of Project Structure (SPV/etc.) and Shareholders Options (PPP/PE/etc.)
 High Level Project Schedule/Program, with Key Milestones
 Risks & Opportunities Register, with Proposed Mitigation & Realization Measures
 Pre-Feasibility Study & Financial Model BD Committee Approval for Next Phase: 3
7

Phase 2: Pre-Feasibility Study
 Sample Template: Pre-Feasibility Financial Model
(www.slideshare.net/solaruae)
8
2.999049054 $500.00 $525.00 $550.00 $575.00 $600.00 $625.00 $650.00 $675.00 $700.00 $725.00 $750.00 $775.00 $800.00 $825.00 $850.00 $875.00 $900.00 $925.00 $950.00 $975.00 $1,000.00 $1,025.00 $1,050.00 $1,075.00 $1,100.00 $1,125.00 $1,150.00 $1,175.00 $1,200.00 $1,225.00 $1,250.00 $1,275.00 $1,300.00 $1,325.00 $1,350.00 $1,375.00 $1,400.00 $1,425.00
$0.00 1.3839 1.4598 1.5357 1.6116 1.6875 1.7633 1.8392 1.9151 1.9910 2.0668 2.1427 2.2186 2.2945 2.3704 2.4462 2.5221 2.5980 2.6739 2.7497 2.8256 2.9015 2.9774 3.0533 3.1291 3.2050 3.2809 3.3568 3.4326 3.5085 3.5844 3.6603 3.7361 3.8120 3.8879 3.9638 4.0397 4.1155 4.1914
$1.00 1.4420 1.5179 1.5938 1.6696 1.7455 1.8214 1.8973 1.9731 2.0490 2.1249 2.2008 2.2767 2.3525 2.4284 2.5043 2.5802 2.6560 2.7319 2.8078 2.8837 2.9595 3.0354 3.1113 3.1872 3.2631 3.3389 3.4148 3.4907 3.5666 3.6424 3.7183 3.7942 3.8701 3.9460 4.0218 4.0977 4.1736 4.2495
$2.00 1.5001 1.5759 1.6518 1.7277 1.8036 1.8794 1.9553 2.0312 2.1071 2.1829 2.2588 2.3347 2.4106 2.4865 2.5623 2.6382 2.7141 2.7900 2.8658 2.9417 3.0176 3.0935 3.1694 3.2452 3.3211 3.3970 3.4729 3.5487 3.6246 3.7005 3.7764 3.8523 3.9281 4.0040 4.0799 4.1558 4.2316 4.3075
$3.00 1.5581 1.6340 1.7099 1.7857 1.8616 1.9375 2.0134 2.0892 2.1651 2.2410 2.3169 2.3928 2.4686 2.5445 2.6204 2.6963 2.7721 2.8480 2.9239 2.9998 3.0757 3.1515 3.2274 3.3033 3.3792 3.4550 3.5309 3.6068 3.6827 3.7585 3.8344 3.9103 3.9862 4.0621 4.1379 4.2138 4.2897 4.3656
$4.00 1.6162 1.6920 1.7679 1.8438 1.9197 1.9955 2.0714 2.1473 2.2232 2.2991 2.3749 2.4508 2.5267 2.6026 2.6784 2.7543 2.8302 2.9061 2.9819 3.0578 3.1337 3.2096 3.2855 3.3613 3.4372 3.5131 3.5890 3.6648 3.7407 3.8166 3.8925 3.9684 4.0442 4.1201 4.1960 4.2719 4.3477 4.4236
$5.00 1.6742 1.7501 1.8260 1.9018 1.9777 2.0536 2.1295 2.2053 2.2812 2.3571 2.4330 2.5089 2.5847 2.6606 2.7365 2.8124 2.8882 2.9641 3.0400 3.1159 3.1918 3.2676 3.3435 3.4194 3.4953 3.5711 3.6470 3.7229 3.7988 3.8747 3.9505 4.0264 4.1023 4.1782 4.2540 4.3299 4.4058 4.4817
$6.00 1.7323 1.8081 1.8840 1.9599 2.0358 2.1116 2.1875 2.2634 2.3393 2.4152 2.4910 2.5669 2.6428 2.7187 2.7945 2.8704 2.9463 3.0222 3.0981 3.1739 3.2498 3.3257 3.4016 3.4774 3.5533 3.6292 3.7051 3.7809 3.8568 3.9327 4.0086 4.0845 4.1603 4.2362 4.3121 4.3880 4.4638 4.5397
$7.00 1.7903 1.8662 1.9421 2.0179 2.0938 2.1697 2.2456 2.3215 2.3973 2.4732 2.5491 2.6250 2.7008 2.7767 2.8526 2.9285 3.0043 3.0802 3.1561 3.2320 3.3079 3.3837 3.4596 3.5355 3.6114 3.6872 3.7631 3.8390 3.9149 3.9908 4.0666 4.1425 4.2184 4.2943 4.3701 4.4460 4.5219 4.5978
$8.00 1.8484 1.9242 2.0001 2.0760 2.1519 2.2277 2.3036 2.3795 2.4554 2.5313 2.6071 2.6830 2.7589 2.8348 2.9106 2.9865 3.0624 3.1383 3.2142 3.2900 3.3659 3.4418 3.5177 3.5935 3.6694 3.7453 3.8212 3.8971 3.9729 4.0488 4.1247 4.2006 4.2764 4.3523 4.4282 4.5041 4.5799 4.6558
$9.00 1.9064 1.9823 2.0582 2.1340 2.2099 2.2858 2.3617 2.4376 2.5134 2.5893 2.6652 2.7411 2.8169 2.8928 2.9687 3.0446 3.1205 3.1963 3.2722 3.3481 3.4240 3.4998 3.5757 3.6516 3.7275 3.8033 3.8792 3.9551 4.0310 4.1069 4.1827 4.2586 4.3345 4.4104 4.4862 4.5621 4.6380 4.7139
$10.00 1.9645 2.0403 2.1162 2.1921 2.2680 2.3439 2.4197 2.4956 2.5715 2.6474 2.7232 2.7991 2.8750 2.9509 3.0267 3.1026 3.1785 3.2544 3.3303 3.4061 3.4820 3.5579 3.6338 3.7096 3.7855 3.8614 3.9373 4.0132 4.0890 4.1649 4.2408 4.3167 4.3925 4.4684 4.5443 4.6202 4.6961 4.7719
$11.00 2.0225 2.0984 2.1743 2.2502 2.3260 2.4019 2.4778 2.5537 2.6295 2.7054 2.7813 2.8572 2.9330 3.0089 3.0848 3.1607 3.2366 3.3124 3.3883 3.4642 3.5401 3.6159 3.6918 3.7677 3.8436 3.9195 3.9953 4.0712 4.1471 4.2230 4.2988 4.3747 4.4506 4.5265 4.6023 4.6782 4.7541 4.8300
$12.00 2.0806 2.1564 2.2323 2.3082 2.3841 2.4600 2.5358 2.6117 2.6876 2.7635 2.8393 2.9152 2.9911 3.0670 3.1429 3.2187 3.2946 3.3705 3.4464 3.5222 3.5981 3.6740 3.7499 3.8257 3.9016 3.9775 4.0534 4.1293 4.2051 4.2810 4.3569 4.4328 4.5086 4.5845 4.6604 4.7363 4.8122 4.8880
$13.00 2.1386 2.2145 2.2904 2.3663 2.4421 2.5180 2.5939 2.6698 2.7456 2.8215 2.8974 2.9733 3.0492 3.1250 3.2009 3.2768 3.3527 3.4285 3.5044 3.5803 3.6562 3.7320 3.8079 3.8838 3.9597 4.0356 4.1114 4.1873 4.2632 4.3391 4.4149 4.4908 4.5667 4.6426 4.7185 4.7943 4.8702 4.9461
$14.00 2.1967 2.2726 2.3484 2.4243 2.5002 2.5761 2.6519 2.7278 2.8037 2.8796 2.9554 3.0313 3.1072 3.1831 3.2590 3.3348 3.4107 3.4866 3.5625 3.6383 3.7142 3.7901 3.8660 3.9419 4.0177 4.0936 4.1695 4.2454 4.3212 4.3971 4.4730 4.5489 4.6247 4.7006 4.7765 4.8524 4.9283 5.0041
$15.00 2.2547 2.3306 2.4065 2.4824 2.5582 2.6341 2.7100 2.7859 2.8617 2.9376 3.0135 3.0894 3.1653 3.2411 3.3170 3.3929 3.4688 3.5446 3.6205 3.6964 3.7723 3.8482 3.9240 3.9999 4.0758 4.1517 4.2275 4.3034 4.3793 4.4552 4.5310 4.6069 4.6828 4.7587 4.8346 4.9104 4.9863 5.0622
$16.00 2.3128 2.3887 2.4645 2.5404 2.6163 2.6922 2.7680 2.8439 2.9198 2.9957 3.0716 3.1474 3.2233 3.2992 3.3751 3.4509 3.5268 3.6027 3.6786 3.7544 3.8303 3.9062 3.9821 4.0580 4.1338 4.2097 4.2856 4.3615 4.4373 4.5132 4.5891 4.6650 4.7409 4.8167 4.8926 4.9685 5.0444 5.1202
$17.00 2.3708 2.4467 2.5226 2.5985 2.6743 2.7502 2.8261 2.9020 2.9778 3.0537 3.1296 3.2055 3.2814 3.3572 3.4331 3.5090 3.5849 3.6607 3.7366 3.8125 3.8884 3.9643 4.0401 4.1160 4.1919 4.2678 4.3436 4.4195 4.4954 4.5713 4.6472 4.7230 4.7989 4.8748 4.9507 5.0265 5.1024 5.1783
$18.00 2.4289 2.5048 2.5806 2.6565 2.7324 2.8083 2.8841 2.9600 3.0359 3.1118 3.1877 3.2635 3.3394 3.4153 3.4912 3.5670 3.6429 3.7188 3.7947 3.8706 3.9464 4.0223 4.0982 4.1741 4.2499 4.3258 4.4017 4.4776 4.5534 4.6293 4.7052 4.7811 4.8570 4.9328 5.0087 5.0846 5.1605 5.2363
$19.00 2.4869 2.5628 2.6387 2.7146 2.7904 2.8663 2.9422 3.0181 3.0940 3.1698 3.2457 3.3216 3.3975 3.4733 3.5492 3.6251 3.7010 3.7768 3.8527 3.9286 4.0045 4.0804 4.1562 4.2321 4.3080 4.3839 4.4597 4.5356 4.6115 4.6874 4.7633 4.8391 4.9150 4.9909 5.0668 5.1426 5.2185 5.2944
$20.00 2.5450 2.6209 2.6967 2.7726 2.8485 2.9244 3.0002 3.0761 3.1520 3.2279 3.3038 3.3796 3.4555 3.5314 3.6073 3.6831 3.7590 3.8349 3.9108 3.9867 4.0625 4.1384 4.2143 4.2902 4.3660 4.4419 4.5178 4.5937 4.6696 4.7454 4.8213 4.8972 4.9731 5.0489 5.1248 5.2007 5.2766 5.3524
$21.00 2.6030 2.6789 2.7548 2.8307 2.9065 2.9824 3.0583 3.1342 3.2101 3.2859 3.3618 3.4377 3.5136 3.5894 3.6653 3.7412 3.8171 3.8930 3.9688 4.0447 4.1206 4.1965 4.2723 4.3482 4.4241 4.5000 4.5758 4.6517 4.7276 4.8035 4.8794 4.9552 5.0311 5.1070 5.1829 5.2587 5.3346 5.4105
$22.00 2.6611 2.7370 2.8128 2.8887 2.9646 3.0405 3.1164 3.1922 3.2681 3.3440 3.4199 3.4957 3.5716 3.6475 3.7234 3.7992 3.8751 3.9510 4.0269 4.1028 4.1786 4.2545 4.3304 4.4063 4.4821 4.5580 4.6339 4.7098 4.7857 4.8615 4.9374 5.0133 5.0892 5.1650 5.2409 5.3168 5.3927 5.4686
$23.00 2.7191 2.7950 2.8709 2.9468 3.0226 3.0985 3.1744 3.2503 3.3262 3.4020 3.4779 3.5538 3.6297 3.7055 3.7814 3.8573 3.9332 4.0091 4.0849 4.1608 4.2367 4.3126 4.3884 4.4643 4.5402 4.6161 4.6920 4.7678 4.8437 4.9196 4.9955 5.0713 5.1472 5.2231 5.2990 5.3748 5.4507 5.5266
$24.00 2.7772 2.8531 2.9289 3.0048 3.0807 3.1566 3.2325 3.3083 3.3842 3.4601 3.5360 3.6118 3.6877 3.7636 3.8395 3.9154 3.9912 4.0671 4.1430 4.2189 4.2947 4.3706 4.4465 4.5224 4.5982 4.6741 4.7500 4.8259 4.9018 4.9776 5.0535 5.1294 5.2053 5.2811 5.3570 5.4329 5.5088 5.5847
$25.00 2.8352 2.9111 2.9870 3.0629 3.1388 3.2146 3.2905 3.3664 3.4423 3.5181 3.5940 3.6699 3.7458 3.8216 3.8975 3.9734 4.0493 4.1252 4.2010 4.2769 4.3528 4.4287 4.5045 4.5804 4.6563 4.7322 4.8081 4.8839 4.9598 5.0357 5.1116 5.1874 5.2633 5.3392 5.4151 5.4910 5.5668 5.6427
$26.00 2.8933 2.9692 3.0450 3.1209 3.1968 3.2727 3.3486 3.4244 3.5003 3.5762 3.6521 3.7279 3.8038 3.8797 3.9556 4.0315 4.1073 4.1832 4.2591 4.3350 4.4108 4.4867 4.5626 4.6385 4.7144 4.7902 4.8661 4.9420 5.0179 5.0937 5.1696 5.2455 5.3214 5.3972 5.4731 5.5490 5.6249 5.7008
$27.00 2.9513 3.0272 3.1031 3.1790 3.2549 3.3307 3.4066 3.4825 3.5584 3.6342 3.7101 3.7860 3.8619 3.9378 4.0136 4.0895 4.1654 4.2413 4.3171 4.3930 4.4689 4.5448 4.6206 4.6965 4.7724 4.8483 4.9242 5.0000 5.0759 5.1518 5.2277 5.3035 5.3794 5.4553 5.5312 5.6071 5.6829 5.7588
$28.00 3.0094 3.0853 3.1612 3.2370 3.3129 3.3888 3.4647 3.5405 3.6164 3.6923 3.7682 3.8440 3.9199 3.9958 4.0717 4.1476 4.2234 4.2993 4.3752 4.4511 4.5269 4.6028 4.6787 4.7546 4.8305 4.9063 4.9822 5.0581 5.1340 5.2098 5.2857 5.3616 5.4375 5.5134 5.5892 5.6651 5.7410 5.8169
$29.00 3.0675 3.1433 3.2192 3.2951 3.3710 3.4468 3.5227 3.5986 3.6745 3.7503 3.8262 3.9021 3.9780 4.0539 4.1297 4.2056 4.2815 4.3574 4.4332 4.5091 4.5850 4.6609 4.7368 4.8126 4.8885 4.9644 5.0403 5.1161 5.1920 5.2679 5.3438 5.4196 5.4955 5.5714 5.6473 5.7232 5.7990 5.8749
$30.00 3.1255 3.2014 3.2773 3.3531 3.4290 3.5049 3.5808 3.6566 3.7325 3.8084 3.8843 3.9602 4.0360 4.1119 4.1878 4.2637 4.3395 4.4154 4.4913 4.5672 4.6430 4.7189 4.7948 4.8707 4.9466 5.0224 5.0983 5.1742 5.2501 5.3259 5.4018 5.4777 5.5536 5.6295 5.7053 5.7812 5.8571 5.9330
LCOE ($ ¢/kWh) Sensitivitiy Analysis - CAPEX & WACC
2.999049054 $500.00 $525.00 $550.00 $575.00 $600.00 $625.00 $650.00 $675.00 $700.00 $725.00 $750.00 $775.00 $800.00 $825.00 $850.00 $875.00 $900.00 $925.00 $950.00 $975.00 $1,000.00 $1,025.00 $1,050.00 $1,075.00 $1,100.00 $1,125.00 $1,150.00 $1,175.00 $1,200.00 $1,225.00 $1,250.00 $1,275.00 $1,300.00 $1,325.00 $1,350.00 $1,375.00 $1,400.00 $1,425.00
1.00% 1.5154 1.5735 1.6317 1.6899 1.7480 1.8062 1.8643 1.9225 1.9807 2.0388 2.0970 2.1551 2.2133 2.2715 2.3296 2.3878 2.4459 2.5041 2.5623 2.6204 2.6786 2.7367 2.7949 2.8531 2.9112 2.9694 3.0275 3.0857 3.1439 3.2020 3.2602 3.3183 3.3765 3.4347 3.4928 3.5510 3.6091 3.6673
1.10% 1.5312 1.5901 1.6490 1.7078 1.7667 1.8256 1.8844 1.9433 2.0021 2.0610 2.1199 2.1787 2.2376 2.2965 2.3553 2.4142 2.4730 2.5319 2.5908 2.6496 2.7085 2.7674 2.8262 2.8851 2.9440 3.0028 3.0617 3.1205 3.1794 3.2383 3.2971 3.3560 3.4149 3.4737 3.5326 3.5914 3.6503 3.7092
1.20% 1.5472 1.6067 1.6663 1.7259 1.7855 1.8450 1.9046 1.9642 2.0237 2.0833 2.1429 2.2025 2.2620 2.3216 2.3812 2.4407 2.5003 2.5599 2.6195 2.6790 2.7386 2.7982 2.8577 2.9173 2.9769 3.0364 3.0960 3.1556 3.2152 3.2747 3.3343 3.3939 3.4534 3.5130 3.5726 3.6322 3.6917 3.7513
1.30% 1.5632 1.6235 1.6837 1.7440 1.8043 1.8646 1.9249 1.9852 2.0454 2.1057 2.1660 2.2263 2.2866 2.3469 2.4072 2.4674 2.5277 2.5880 2.6483 2.7086 2.7689 2.8291 2.8894 2.9497 3.0100 3.0703 3.1306 3.1908 3.2511 3.3114 3.3717 3.4320 3.4923 3.5526 3.6128 3.6731 3.7334 3.7937
1.40% 1.5793 1.6403 1.7013 1.7623 1.8233 1.8843 1.9453 2.0063 2.0673 2.1283 2.1893 2.2503 2.3113 2.3723 2.4333 2.4943 2.5553 2.6163 2.6773 2.7383 2.7993 2.8603 2.9213 2.9823 3.0433 3.1043 3.1653 3.2263 3.2873 3.3483 3.4093 3.4703 3.5313 3.5923 3.6533 3.7143 3.7753 3.8363
1.50% 1.5954 1.6571 1.7189 1.7806 1.8423 1.9040 1.9658 2.0275 2.0892 2.1509 2.2127 2.2744 2.3361 2.3978 2.4596 2.5213 2.5830 2.6447 2.7064 2.7682 2.8299 2.8916 2.9533 3.0151 3.0768 3.1385 3.2002 3.2620 3.3237 3.3854 3.4471 3.5089 3.5706 3.6323 3.6940 3.7558 3.8175 3.8792
1.60% 1.6116 1.6741 1.7365 1.7990 1.8614 1.9239 1.9864 2.0488 2.1113 2.1737 2.2362 2.2986 2.3611 2.4235 2.4860 2.5484 2.6109 2.6733 2.7358 2.7982 2.8607 2.9231 2.9856 3.0480 3.1105 3.1729 3.2354 3.2978 3.3603 3.4227 3.4852 3.5476 3.6101 3.6725 3.7350 3.7974 3.8599 3.9223
1.70% 1.6279 1.6911 1.7543 1.8175 1.8807 1.9439 2.0070 2.0702 2.1334 2.1966 2.2598 2.3230 2.3861 2.4493 2.5125 2.5757 2.6389 2.7021 2.7652 2.8284 2.8916 2.9548 3.0180 3.0812 3.1443 3.2075 3.2707 3.3339 3.3971 3.4603 3.5234 3.5866 3.6498 3.7130 3.7762 3.8394 3.9025 3.9657
1.80% 1.6443 1.7082 1.7722 1.8361 1.9000 1.9639 2.0278 2.0918 2.1557 2.2196 2.2835 2.3474 2.4114 2.4753 2.5392 2.6031 2.6670 2.7310 2.7949 2.8588 2.9227 2.9866 3.0506 3.1145 3.1784 3.2423 3.3062 3.3702 3.4341 3.4980 3.5619 3.6258 3.6897 3.7537 3.8176 3.8815 3.9454 4.0093
1.90% 1.6608 1.7254 1.7901 1.8548 1.9194 1.9841 2.0487 2.1134 2.1781 2.2427 2.3074 2.3720 2.4367 2.5014 2.5660 2.6307 2.6953 2.7600 2.8247 2.8893 2.9540 3.0186 3.0833 3.1480 3.2126 3.2773 3.3420 3.4066 3.4713 3.5359 3.6006 3.6653 3.7299 3.7946 3.8592 3.9239 3.9886 4.0532
2.00% 1.6773 1.7427 1.8081 1.8735 1.9389 2.0043 2.0697 2.1351 2.2005 2.2660 2.3314 2.3968 2.4622 2.5276 2.5930 2.6584 2.7238 2.7892 2.8546 2.9200 2.9854 3.0508 3.1162 3.1816 3.2471 3.3125 3.3779 3.4433 3.5087 3.5741 3.6395 3.7049 3.7703 3.8357 3.9011 3.9665 4.0319 4.0973
2.10% 1.6939 1.7600 1.8262 1.8924 1.9585 2.0247 2.0908 2.1570 2.2231 2.2893 2.3555 2.4216 2.4878 2.5539 2.6201 2.6862 2.7524 2.8186 2.8847 2.9509 3.0170 3.0832 3.1493 3.2155 3.2817 3.3478 3.4140 3.4801 3.5463 3.6124 3.6786 3.7448 3.8109 3.8771 3.9432 4.0094 4.0755 4.1417
2.20% 1.7106 1.7775 1.8444 1.9113 1.9782 2.0451 2.1120 2.1789 2.2459 2.3128 2.3797 2.4466 2.5135 2.5804 2.6473 2.7142 2.7811 2.8481 2.9150 2.9819 3.0488 3.1157 3.1826 3.2495 3.3164 3.3834 3.4503 3.5172 3.5841 3.6510 3.7179 3.7848 3.8517 3.9186 3.9856 4.0525 4.1194 4.1863
2.50% 1.7610 1.8302 1.8994 1.9686 2.0378 2.1070 2.1762 2.2454 2.3146 2.3838 2.4530 2.5222 2.5914 2.6606 2.7298 2.7990 2.8683 2.9375 3.0067 3.0759 3.1451 3.2143 3.2835 3.3527 3.4219 3.4911 3.5603 3.6295 3.6987 3.7679 3.8371 3.9063 3.9755 4.0447 4.1139 4.1831 4.2523 4.3215
2.70% 1.7950 1.8657 1.9365 2.0072 2.0780 2.1487 2.2195 2.2902 2.3610 2.4318 2.5025 2.5733 2.6440 2.7148 2.7855 2.8563 2.9270 2.9978 3.0686 3.1393 3.2101 3.2808 3.3516 3.4223 3.4931 3.5638 3.6346 3.7053 3.7761 3.8469 3.9176 3.9884 4.0591 4.1299 4.2006 4.2714 4.3421 4.4129
2.80% 1.8120 1.8836 1.9551 2.0267 2.0982 2.1697 2.2413 2.3128 2.3843 2.4559 2.5274 2.5990 2.6705 2.7420 2.8136 2.8851 2.9566 3.0282 3.0997 3.1713 3.2428 3.3143 3.3859 3.4574 3.5289 3.6005 3.6720 3.7436 3.8151 3.8866 3.9582 4.0297 4.1012 4.1728 4.2443 4.3159 4.3874 4.4589
2.90% 1.8292 1.9015 1.9739 2.0462 2.1185 2.1908 2.2632 2.3355 2.4078 2.4801 2.5524 2.6248 2.6971 2.7694 2.8417 2.9141 2.9864 3.0587 3.1310 3.2034 3.2757 3.3480 3.4203 3.4927 3.5650 3.6373 3.7096 3.7820 3.8543 3.9266 3.9989 4.0713 4.1436 4.2159 4.2882 4.3605 4.4329 4.5052
3.00% 1.8464 1.9196 1.9927 2.0658 2.1389 2.2120 2.2851 2.3582 2.4314 2.5045 2.5776 2.6507 2.7238 2.7969 2.8701 2.9432 3.0163 3.0894 3.1625 3.2356 3.3087 3.3819 3.4550 3.5281 3.6012 3.6743 3.7474 3.8205 3.8937 3.9668 4.0399 4.1130 4.1861 4.2592 4.3323 4.4055 4.4786 4.5517
3.10% 1.8637 1.9377 2.0116 2.0855 2.1594 2.2333 2.3072 2.3811 2.4550 2.5289 2.6028 2.6768 2.7507 2.8246 2.8985 2.9724 3.0463 3.1202 3.1941 3.2680 3.3419 3.4159 3.4898 3.5637 3.6376 3.7115 3.7854 3.8593 3.9332 4.0071 4.0811 4.1550 4.2289 4.3028 4.3767 4.4506 4.5245 4.5984
3.20% 1.8811 1.9558 2.0305 2.1052 2.1799 2.2547 2.3294 2.4041 2.4788 2.5535 2.6282 2.7029 2.7776 2.8523 2.9271 3.0018 3.0765 3.1512 3.2259 3.3006 3.3753 3.4500 3.5247 3.5994 3.6742 3.7489 3.8236 3.8983 3.9730 4.0477 4.1224 4.1971 4.2718 4.3465 4.4213 4.4960 4.5707 4.6454
3.30% 1.8985 1.9741 2.0496 2.1251 2.2006 2.2761 2.3516 2.4271 2.5027 2.5782 2.6537 2.7292 2.8047 2.8802 2.9557 3.0313 3.1068 3.1823 3.2578 3.3333 3.4088 3.4843 3.5599 3.6354 3.7109 3.7864 3.8619 3.9374 4.0129 4.0885 4.1640 4.2395 4.3150 4.3905 4.4660 4.5415 4.6171 4.6926
3.30% 1.8985 1.9741 2.0496 2.1251 2.2006 2.2761 2.3516 2.4271 2.5027 2.5782 2.6537 2.7292 2.8047 2.8802 2.9557 3.0313 3.1068 3.1823 3.2578 3.3333 3.4088 3.4843 3.5599 3.6354 3.7109 3.7864 3.8619 3.9374 4.0129 4.0885 4.1640 4.2395 4.3150 4.3905 4.4660 4.5415 4.6171 4.6926
3.40% 1.9161 1.9924 2.0687 2.1450 2.2213 2.2977 2.3740 2.4503 2.5266 2.6030 2.6793 2.7556 2.8319 2.9082 2.9846 3.0609 3.1372 3.2135 3.2899 3.3662 3.4425 3.5188 3.5951 3.6715 3.7478 3.8241 3.9004 3.9768 4.0531 4.1294 4.2057 4.2820 4.3584 4.4347 4.5110 4.5873 4.6637 4.7400
3.50% 1.9336 2.0108 2.0879 2.1650 2.2422 2.3193 2.3964 2.4736 2.5507 2.6278 2.7050 2.7821 2.8592 2.9364 3.0135 3.0907 3.1678 3.2449 3.3221 3.3992 3.4763 3.5535 3.6306 3.7077 3.7849 3.8620 3.9391 4.0163 4.0934 4.1705 4.2477 4.3248 4.4019 4.4791 4.5562 4.6334 4.7105 4.7876
3.60% 1.9513 2.0292 2.1072 2.1851 2.2631 2.3410 2.4190 2.4969 2.5749 2.6528 2.7308 2.8087 2.8867 2.9646 3.0426 3.1205 3.1985 3.2764 3.3544 3.4324 3.5103 3.5883 3.6662 3.7442 3.8221 3.9001 3.9780 4.0560 4.1339 4.2119 4.2898 4.3678 4.4457 4.5237 4.6016 4.6796 4.7575 4.8355
3.70% 1.9690 2.0477 2.1265 2.2053 2.2841 2.3628 2.4416 2.5204 2.5992 2.6779 2.7567 2.8355 2.9142 2.9930 3.0718 3.1506 3.2293 3.3081 3.3869 3.4657 3.5444 3.6232 3.7020 3.7808 3.8595 3.9383 4.0171 4.0958 4.1746 4.2534 4.3322 4.4109 4.4897 4.5685 4.6473 4.7260 4.8048 4.8836
3.60% 1.9513 2.0292 2.1072 2.1851 2.2631 2.3410 2.4190 2.4969 2.5749 2.6528 2.7308 2.8087 2.8867 2.9646 3.0426 3.1205 3.1985 3.2764 3.3544 3.4324 3.5103 3.5883 3.6662 3.7442 3.8221 3.9001 3.9780 4.0560 4.1339 4.2119 4.2898 4.3678 4.4457 4.5237 4.6016 4.6796 4.7575 4.8355
3.80% 1.9867 2.0663 2.1459 2.2255 2.3051 2.3847 2.4643 2.5439 2.6235 2.7031 2.7827 2.8623 2.9419 3.0215 3.1011 3.1807 3.2603 3.3399 3.4195 3.4991 3.5787 3.6583 3.7379 3.8175 3.8971 3.9767 4.0563 4.1359 4.2155 4.2951 4.3747 4.4543 4.5339 4.6135 4.6931 4.7727 4.8523 4.9319
3.90% 2.0046 2.0850 2.1654 2.2459 2.3263 2.4067 2.4871 2.5676 2.6480 2.7284 2.8089 2.8893 2.9697 3.0501 3.1306 3.2110 3.2914 3.3719 3.4523 3.5327 3.6131 3.6936 3.7740 3.8544 3.9349 4.0153 4.0957 4.1761 4.2566 4.3370 4.4174 4.4979 4.5783 4.6587 4.7391 4.8196 4.9000 4.9804
4.00% 2.0225 2.1037 2.1850 2.2663 2.3475 2.4288 2.5101 2.5913 2.6726 2.7538 2.8351 2.9164 2.9976 3.0789 3.1601 3.2414 3.3227 3.4039 3.4852 3.5665 3.6477 3.7290 3.8102 3.8915 3.9728 4.0540 4.1353 4.2166 4.2978 4.3791 4.4603 4.5416 4.6229 4.7041 4.7854 4.8666 4.9479 5.0292
4.20% 2.0585 2.1414 2.2244 2.3073 2.3902 2.4732 2.5561 2.6391 2.7220 2.8050 2.8879 2.9708 3.0538 3.1367 3.2197 3.3026 3.3856 3.4685 3.5514 3.6344 3.7173 3.8003 3.8832 3.9661 4.0491 4.1320 4.2150 4.2979 4.3809 4.4638 4.5467 4.6297 4.7126 4.7956 4.8785 4.9614 5.0444 5.1273
4.40% 2.0947 2.1794 2.2640 2.3487 2.4333 2.5179 2.6026 2.6872 2.7718 2.8565 2.9411 3.0258 3.1104 3.1950 3.2797 3.3643 3.4489 3.5336 3.6182 3.7029 3.7875 3.8721 3.9568 4.0414 4.1260 4.2107 4.2953 4.3800 4.4646 4.5492 4.6339 4.7185 4.8031 4.8878 4.9724 5.0571 5.1417 5.2263
4.60% 2.1313 2.2176 2.3040 2.3903 2.4767 2.5630 2.6494 2.7357 2.8221 2.9084 2.9948 3.0811 3.1675 3.2538 3.3402 3.4265 3.5129 3.5992 3.6856 3.7719 3.8583 3.9446 4.0309 4.1173 4.2036 4.2900 4.3763 4.4627 4.5490 4.6354 4.7217 4.8081 4.8944 4.9808 5.0671 5.1535 5.2398 5.3262
4.80% 2.1680 2.2561 2.3442 2.4322 2.5203 2.6084 2.6965 2.7846 2.8726 2.9607 3.0488 3.1369 3.2249 3.3130 3.4011 3.4892 3.5773 3.6653 3.7534 3.8415 3.9296 4.0176 4.1057 4.1938 4.2819 4.3700 4.4580 4.5461 4.6342 4.7223 4.8103 4.8984 4.9865 5.0746 5.1627 5.2507 5.3388 5.4269
5.00% 2.2050 2.2948 2.3847 2.4745 2.5643 2.6541 2.7440 2.8338 2.9236 3.0134 3.1032 3.1931 3.2829 3.3727 3.4625 3.5523 3.6422 3.7320 3.8218 3.9116 4.0014 4.0913 4.1811 4.2709 4.3607 4.4506 4.5404 4.6302 4.7200 4.8098 4.8997 4.9895 5.0793 5.1691 5.2589 5.3488 5.4386 5.5284
5.20% 2.2423 2.3339 2.4254 2.5170 2.6086 2.7002 2.7918 2.8833 2.9749 3.0665 3.1581 3.2497 3.3412 3.4328 3.5244 3.6160 3.7076 3.7991 3.8907 3.9823 4.0739 4.1655 4.2570 4.3486 4.4402 4.5318 4.6234 4.7149 4.8065 4.8981 4.9897 5.0813 5.1728 5.2644 5.3560 5.4476 5.5392 5.6307
5.40% 2.2798 2.3731 2.4665 2.5598 2.6532 2.7465 2.8399 2.9332 3.0266 3.1200 3.2133 3.3067 3.4000 3.4934 3.5867 3.6801 3.7734 3.8668 3.9601 4.0535 4.1468 4.2402 4.3336 4.4269 4.5203 4.6136 4.7070 4.8003 4.8937 4.9870 5.0804 5.1737 5.2671 5.3604 5.4538 5.5472 5.6405 5.7339
5.60% 2.3175 2.4126 2.5078 2.6029 2.6981 2.7932 2.8884 2.9835 3.0786 3.1738 3.2689 3.3641 3.4592 3.5544 3.6495 3.7446 3.8398 3.9349 4.0301 4.1252 4.2204 4.3155 4.4106 4.5058 4.6009 4.6961 4.7912 4.8863 4.9815 5.0766 5.1718 5.2669 5.3621 5.4572 5.5523 5.6475 5.7426 5.8378
5.80% 2.3555 2.4524 2.5494 2.6463 2.7432 2.8402 2.9371 3.0341 3.1310 3.2280 3.3249 3.4219 3.5188 3.6158 3.7127 3.8096 3.9066 4.0035 4.1005 4.1974 4.2944 4.3913 4.4883 4.5852 4.6822 4.7791 4.8761 4.9730 5.0699 5.1669 5.2638 5.3608 5.4577 5.5547 5.6516 5.7486 5.8455 5.9425
6.00% 2.3936 2.4924 2.5912 2.6899 2.7887 2.8875 2.9862 3.0850 3.1838 3.2825 3.3813 3.4800 3.5788 3.6776 3.7763 3.8751 3.9739 4.0726 4.1714 4.2702 4.3689 4.4677 4.5664 4.6652 4.7640 4.8627 4.9615 5.0603 5.1590 5.2578 5.3566 5.4553 5.5541 5.6529 5.7516 5.8504 5.9491 6.0479
6.20% 2.4321 2.5327 2.6333 2.7338 2.8344 2.9350 3.0356 3.1362 3.2368 3.3374 3.4380 3.5386 3.6392 3.7398 3.8404 3.9410 4.0416 4.1422 4.2428 4.3434 4.4440 4.5446 4.6452 4.7458 4.8464 4.9470 5.0475 5.1481 5.2487 5.3493 5.4499 5.5505 5.6511 5.7517 5.8523 5.9529 6.0535 6.1541
6.40% 2.4707 2.5731 2.6756 2.7780 2.8805 2.9829 3.0853 3.1878 3.2902 3.3927 3.4951 3.5976 3.7000 3.8024 3.9049 4.0073 4.1098 4.2122 4.3146 4.4171 4.5195 4.6220 4.7244 4.8268 4.9293 5.0317 5.1342 5.2366 5.3391 5.4415 5.5439 5.6464 5.7488 5.8513 5.9537 6.0561 6.1586 6.2610
6.60% 2.5095 2.6138 2.7182 2.8225 2.9268 3.0311 3.1354 3.2397 3.3440 3.4483 3.5526 3.6569 3.7612 3.8655 3.9698 4.0741 4.1784 4.2827 4.3870 4.4913 4.5956 4.6999 4.8042 4.9085 5.0128 5.1171 5.2214 5.3257 5.4300 5.5343 5.6386 5.7429 5.8472 5.9515 6.0558 6.1601 6.2644 6.3687
6.80% 2.5486 2.6548 2.7610 2.8671 2.9733 3.0795 3.1857 3.2918 3.3980 3.5042 3.6104 3.7165 3.8227 3.9289 4.0350 4.1412 4.2474 4.3536 4.4597 4.5659 4.6721 4.7783 4.8844 4.9906 5.0968 5.2030 5.3091 5.4153 5.5215 5.6277 5.7338 5.8400 5.9462 6.0523 6.1585 6.2647 6.3709 6.4770
7.00% 2.5879 2.6960 2.8040 2.9121 3.0201 3.1282 3.2363 3.3443 3.4524 3.5604 3.6685 3.7765 3.8846 3.9927 4.1007 4.2088 4.3168 4.4249 4.5330 4.6410 4.7491 4.8571 4.9652 5.0733 5.1813 5.2894 5.3974 5.5055 5.6136 5.7216 5.8297 5.9377 6.0458 6.1539 6.2619 6.3700 6.4780 6.5861
7.20% 2.6274 2.7373 2.8473 2.9573 3.0672 3.1772 3.2871 3.3971 3.5070 3.6170 3.7270 3.8369 3.9469 4.0568 4.1668 4.2768 4.3867 4.4967 4.6066 4.7166 4.8265 4.9365 5.0465 5.1564 5.2664 5.3763 5.4863 5.5963 5.7062 5.8162 5.9261 6.0361 6.1461 6.2560 6.3660 6.4759 6.5859 6.6958
7.40% 2.6671 2.7789 2.8908 3.0027 3.1145 3.2264 3.3383 3.4502 3.5620 3.6739 3.7858 3.8976 4.0095 4.1214 4.2332 4.3451 4.4570 4.5689 4.6807 4.7926 4.9045 5.0163 5.1282 5.2401 5.3519 5.4638 5.5757 5.6876 5.7994 5.9113 6.0232 6.1350 6.2469 6.3588 6.4706 6.5825 6.6944 6.8063
7.60% 2.7069 2.8207 2.9345 3.0483 3.1621 3.2759 3.3897 3.5035 3.6173 3.7311 3.8449 3.9587 4.0725 4.1863 4.3001 4.4139 4.5277 4.6414 4.7552 4.8690 4.9828 5.0966 5.2104 5.3242 5.4380 5.5518 5.6656 5.7794 5.8932 6.0070 6.1208 6.2346 6.3484 6.4622 6.5759 6.6897 6.8035 6.9173
7.80% 2.7470 2.8628 2.9785 3.0942 3.2099 3.3257 3.4414 3.5571 3.6729 3.7886 3.9043 4.0201 4.1358 4.2515 4.3673 4.4830 4.5987 4.7144 4.8302 4.9459 5.0616 5.1774 5.2931 5.4088 5.5246 5.6403 5.7560 5.8717 5.9875 6.1032 6.2189 6.3347 6.4504 6.5661 6.6819 6.7976 6.9133 7.0290
8.00% 2.7873 2.9050 3.0227 3.1403 3.2580 3.3757 3.4934 3.6110 3.7287 3.8464 3.9641 4.0818 4.1994 4.3171 4.4348 4.5525 4.6702 4.7878 4.9055 5.0232 5.1409 5.2585 5.3762 5.4939 5.6116 5.7293 5.8469 5.9646 6.0823 6.2000 6.3177 6.4353 6.5530 6.6707 6.7884 6.9060 7.0237 7.1414
8.20% 2.8278 2.9474 3.0670 3.1867 3.3063 3.4259 3.5456 3.6652 3.7849 3.9045 4.0241 4.1438 4.2634 4.3831 4.5027 4.6223 4.7420 4.8616 4.9812 5.1009 5.2205 5.3402 5.4598 5.5794 5.6991 5.8187 5.9384 6.0580 6.1776 6.2973 6.4169 6.5365 6.6562 6.7758 6.8955 7.0151 7.1347 7.2544
8.40% 2.8684 2.9900 3.1116 3.2332 3.3548 3.4764 3.5981 3.7197 3.8413 3.9629 4.0845 4.2061 4.3277 4.4493 4.5709 4.6925 4.8142 4.9358 5.0574 5.1790 5.3006 5.4222 5.5438 5.6654 5.7870 5.9086 6.0302 6.1519 6.2735 6.3951 6.5167 6.6383 6.7599 6.8815 7.0031 7.1247 7.2463 7.3680
8.60% 2.9092 3.0328 3.1564 3.2800 3.4036 3.5272 3.6508 3.7744 3.8980 4.0216 4.1451 4.2687 4.3923 4.5159 4.6395 4.7631 4.8867 5.0103 5.1339 5.2575 5.3811 5.5047 5.6282 5.7518 5.8754 5.9990 6.1226 6.2462 6.3698 6.4934 6.6170 6.7406 6.8642 6.9878 7.1113 7.2349 7.3585 7.4821
8.80% 2.9502 3.0758 3.2014 3.3270 3.4526 3.5782 3.7037 3.8293 3.9549 4.0805 4.2061 4.3317 4.4572 4.5828 4.7084 4.8340 4.9596 5.0852 5.2108 5.3363 5.4619 5.5875 5.7131 5.8387 5.9643 6.0899 6.2154 6.3410 6.4666 6.5922 6.7178 6.8434 6.9690 7.0945 7.2201 7.3457 7.4713 7.5969
9.00% 2.9914 3.1190 3.2466 3.3742 3.5018 3.6293 3.7569 3.8845 4.0121 4.1397 4.2673 4.3949 4.5225 4.6501 4.7777 4.9052 5.0328 5.1604 5.2880 5.4156 5.5432 5.6708 5.7984 5.9260 6.0535 6.1811 6.3087 6.4363 6.5639 6.6915 6.8191 6.9467 7.0743 7.2019 7.3294 7.4570 7.5846 7.7122
9.20% 3.0327 3.1623 3.2920 3.4216 3.5512 3.6808 3.8104 3.9400 4.0696 4.1992 4.3288 4.4584 4.5880 4.7176 4.8472 4.9768 5.1064 5.2360 5.3656 5.4952 5.6248 5.7544 5.8840 6.0136 6.1432 6.2728 6.4025 6.5321 6.6617 6.7913 6.9209 7.0505 7.1801 7.3097 7.4393 7.5689 7.6985 7.8281
9.40% 3.0743 3.2059 3.3375 3.4691 3.6008 3.7324 3.8640 3.9957 4.1273 4.2589 4.3905 4.5222 4.6538 4.7854 4.9171 5.0487 5.1803 5.3119 5.4436 5.5752 5.7068 5.8385 5.9701 6.1017 6.2334 6.3650 6.4966 6.6282 6.7599 6.8915 7.0231 7.1548 7.2864 7.4180 7.5496 7.6813 7.8129 7.9445
9.60% 3.1159 3.2496 3.3833 3.5169 3.6506 3.7842 3.9179 4.0516 4.1852 4.3189 4.4526 4.5862 4.7199 4.8536 4.9872 5.1209 5.2546 5.3882 5.5219 5.6555 5.7892 5.9229 6.0565 6.1902 6.3239 6.4575 6.5912 6.7249 6.8585 6.9922 7.1259 7.2595 7.3932 7.5268 7.6605 7.7942 7.9278 8.0615
9.80% 3.1578 3.2935 3.4292 3.5649 3.7006 3.8363 3.9720 4.1077 4.2434 4.3791 4.5148 4.6506 4.7863 4.9220 5.0577 5.1934 5.3291 5.4648 5.6005 5.7362 5.8719 6.0076 6.1434 6.2791 6.4148 6.5505 6.6862 6.8219 6.9576 7.0933 7.2290 7.3647 7.5004 7.6362 7.7719 7.9076 8.0433 8.1790
10.00% 3.1997 3.3375 3.4753 3.6130 3.7508 3.8886 4.0263 4.1641 4.3019 4.4396 4.5774 4.7151 4.8529 4.9907 5.1284 5.2662 5.4040 5.5417 5.6795 5.8173 5.9550 6.0928 6.2305 6.3683 6.5061 6.6438 6.7816 6.9194 7.0571 7.1949 7.3327 7.4704 7.6082 7.7459 7.8837 8.0215 8.1592 8.2970
LCOE ($ ¢/kWh) Sensitivitiy Analysis - CAPEX & Annual Specifc Energy Yield kWh/kWp
2.999049054 $500.00 $525.00 $550.00 $575.00 $600.00 $625.00 $650.00 $675.00 $700.00 $725.00 $750.00 $775.00 $800.00 $825.00 $850.00 $875.00 $900.00 $925.00 $950.00 $975.00 $1,000.00 $1,025.00 $1,050.00 $1,075.00 $1,100.00 $1,125.00 $1,150.00 $1,175.00 $1,200.00 $1,225.00 $1,250.00 $1,275.00 $1,300.00 $1,325.00 $1,350.00 $1,375.00 $1,400.00 $1,425.00
1000 4.0035 4.1628 4.3222 4.4815 4.6408 4.8002 4.9595 5.1189 5.2782 5.4376 5.5969 5.7562 5.9156 6.0749 6.2343 6.3936 6.5530 6.7123 6.8716 7.0310 7.1903 7.3497 7.5090 7.6683 7.8277 7.9870 8.1464 8.3057 8.4651 8.6244 8.7837 8.9431 9.1024 9.2618 9.4211 9.5805 9.7398 9.8991
1025 3.9058 4.0613 4.2167 4.3722 4.5276 4.6831 4.8386 4.9940 5.1495 5.3049 5.4604 5.6158 5.7713 5.9268 6.0822 6.2377 6.3931 6.5486 6.7040 6.8595 7.0149 7.1704 7.3259 7.4813 7.6368 7.7922 7.9477 8.1031 8.2586 8.4141 8.5695 8.7250 8.8804 9.0359 9.1913 9.3468 9.5022 9.6577
1050 3.8128 3.9646 4.1163 4.2681 4.4198 4.5716 4.7234 4.8751 5.0269 5.1786 5.3304 5.4821 5.6339 5.7856 5.9374 6.0892 6.2409 6.3927 6.5444 6.6962 6.8479 6.9997 7.1514 7.3032 7.4549 7.6067 7.7585 7.9102 8.0620 8.2137 8.3655 8.5172 8.6690 8.8207 8.9725 9.1242 9.2760 9.4278
1075 3.7242 3.8724 4.0206 4.1688 4.3171 4.4653 4.6135 4.7617 4.9100 5.0582 5.2064 5.3546 5.5029 5.6511 5.7993 5.9475 6.0958 6.2440 6.3922 6.5404 6.6887 6.8369 6.9851 7.1333 7.2816 7.4298 7.5780 7.7262 7.8745 8.0227 8.1709 8.3192 8.4674 8.6156 8.7638 8.9121 9.0603 9.2085
1100 3.6395 3.7844 3.9292 4.0741 4.2189 4.3638 4.5087 4.6535 4.7984 4.9432 5.0881 5.2329 5.3778 5.5227 5.6675 5.8124 5.9572 6.1021 6.2469 6.3918 6.5367 6.6815 6.8264 6.9712 7.1161 7.2609 7.4058 7.5507 7.6955 7.8404 7.9852 8.1301 8.2749 8.4198 8.5647 8.7095 8.8544 8.9992
1125 3.5586 3.7003 3.8419 3.9836 4.1252 4.2668 4.4085 4.5501 4.6917 4.8334 4.9750 5.1167 5.2583 5.3999 5.5416 5.6832 5.8248 5.9665 6.1081 6.2498 6.3914 6.5330 6.6747 6.8163 6.9579 7.0996 7.2412 7.3829 7.5245 7.6661 7.8078 7.9494 8.0911 8.2327 8.3743 8.5160 8.6576 8.7992
1150 3.4813 3.6198 3.7584 3.8970 4.0355 4.1741 4.3126 4.4512 4.5897 4.7283 4.8669 5.0054 5.1440 5.2825 5.4211 5.5597 5.6982 5.8368 5.9753 6.1139 6.2525 6.3910 6.5296 6.6681 6.8067 6.9452 7.0838 7.2224 7.3609 7.4995 7.6380 7.7766 7.9152 8.0537 8.1923 8.3308 8.4694 8.6080
1175 3.4072 3.5428 3.6784 3.8140 3.9497 4.0853 4.2209 4.3565 4.4921 4.6277 4.7633 4.8989 5.0345 5.1701 5.3058 5.4414 5.5770 5.7126 5.8482 5.9838 6.1194 6.2550 6.3906 6.5263 6.6619 6.7975 6.9331 7.0687 7.2043 7.3399 7.4755 7.6111 7.7468 7.8824 8.0180 8.1536 8.2892 8.4248
1200 3.3362 3.4690 3.6018 3.7346 3.8674 4.0002 4.1329 4.2657 4.3985 4.5313 4.6641 4.7969 4.9297 5.0624 5.1952 5.3280 5.4608 5.5936 5.7264 5.8591 5.9919 6.1247 6.2575 6.3903 6.5231 6.6559 6.7886 6.9214 7.0542 7.1870 7.3198 7.4526 7.5854 7.7181 7.8509 7.9837 8.1165 8.2493
1225 3.2681 3.3982 3.5283 3.6584 3.7884 3.9185 4.0486 4.1787 4.3087 4.4388 4.5689 4.6990 4.8290 4.9591 5.0892 5.2193 5.3493 5.4794 5.6095 5.7396 5.8696 5.9997 6.1298 6.2599 6.3900 6.5200 6.6501 6.7802 6.9103 7.0403 7.1704 7.3005 7.4306 7.5606 7.6907 7.8208 7.9509 8.0809
1250 3.2028 3.3303 3.4577 3.5852 3.7127 3.8401 3.9676 4.0951 4.2226 4.3500 4.4775 4.6050 4.7325 4.8599 4.9874 5.1149 5.2424 5.3698 5.4973 5.6248 5.7523 5.8797 6.0072 6.1347 6.2622 6.3896 6.5171 6.6446 6.7720 6.8995 7.0270 7.1545 7.2819 7.4094 7.5369 7.6644 7.7918 7.9193
1275 3.1400 3.2650 3.3899 3.5149 3.6399 3.7648 3.8898 4.0148 4.1398 4.2647 4.3897 4.5147 4.6397 4.7646 4.8896 5.0146 5.1396 5.2645 5.3895 5.5145 5.6395 5.7644 5.8894 6.0144 6.1394 6.2643 6.3893 6.5143 6.6393 6.7642 6.8892 7.0142 7.1392 7.2641 7.3891 7.5141 7.6391 7.7640
1300 3.0796 3.2022 3.3247 3.4473 3.5699 3.6924 3.8150 3.9376 4.0602 4.1827 4.3053 4.4279 4.5504 4.6730 4.7956 4.9182 5.0407 5.1633 5.2859 5.4084 5.5310 5.6536 5.7762 5.8987 6.0213 6.1439 6.2664 6.3890 6.5116 6.6342 6.7567 6.8793 7.0019 7.1244 7.2470 7.3696 7.4922 7.6147
1325 3.0215 3.1417 3.2620 3.3823 3.5025 3.6228 3.7430 3.8633 3.9836 4.1038 4.2241 4.3443 4.4646 4.5848 4.7051 4.8254 4.9456 5.0659 5.1861 5.3064 5.4267 5.5469 5.6672 5.7874 5.9077 6.0279 6.1482 6.2685 6.3887 6.5090 6.6292 6.7495 6.8698 6.9900 7.1103 7.2305 7.3508 7.4711
1350 2.9655 3.0836 3.2016 3.3196 3.4377 3.5557 3.6737 3.7918 3.9098 4.0278 4.1458 4.2639 4.3819 4.4999 4.6180 4.7360 4.8540 4.9721 5.0901 5.2081 5.3262 5.4442 5.5622 5.6803 5.7983 5.9163 6.0344 6.1524 6.2704 6.3884 6.5065 6.6245 6.7425 6.8606 6.9786 7.0966 7.2147 7.3327
1375 2.9116 3.0275 3.1434 3.2593 3.3752 3.4910 3.6069 3.7228 3.8387 3.9546 4.0705 4.1864 4.3022 4.4181 4.5340 4.6499 4.7658 4.8817 4.9976 5.1134 5.2293 5.3452 5.4611 5.5770 5.6929 5.8088 5.9246 6.0405 6.1564 6.2723 6.3882 6.5041 6.6200 6.7358 6.8517 6.9676 7.0835 7.1994
1400 2.8596 2.9734 3.0873 3.2011 3.3149 3.4287 3.5425 3.6563 3.7702 3.8840 3.9978 4.1116 4.2254 4.3392 4.4530 4.5669 4.6807 4.7945 4.9083 5.0221 5.1359 5.2498 5.3636 5.4774 5.5912 5.7050 5.8188 5.9327 6.0465 6.1603 6.2741 6.3879 6.5017 6.6156 6.7294 6.8432 6.9570 7.0708
1425 2.8095 2.9213 3.0331 3.1449 3.2567 3.3685 3.4804 3.5922 3.7040 3.8158 3.9276 4.0395 4.1513 4.2631 4.3749 4.4867 4.5986 4.7104 4.8222 4.9340 5.0458 5.1577 5.2695 5.3813 5.4931 5.6049 5.7168 5.8286 5.9404 6.0522 6.1640 6.2759 6.3877 6.4995 6.6113 6.7231 6.8349 6.9468
1450 2.7610 2.8709 2.9808 3.0907 3.2006 3.3105 3.4204 3.5303 3.6401 3.7500 3.8599 3.9698 4.0797 4.1896 4.2995 4.4094 4.5193 4.6292 4.7391 4.8490 4.9588 5.0687 5.1786 5.2885 5.3984 5.5083 5.6182 5.7281 5.8380 5.9479 6.0578 6.1676 6.2775 6.3874 6.4973 6.6072 6.7171 6.8270
1475 2.7142 2.8222 2.9303 3.0383 3.1463 3.2544 3.3624 3.4704 3.5784 3.6865 3.7945 3.9025 4.0106 4.1186 4.2266 4.3346 4.4427 4.5507 4.6587 4.7668 4.8748 4.9828 5.0909 5.1989 5.3069 5.4149 5.5230 5.6310 5.7390 5.8471 5.9551 6.0631 6.1711 6.2792 6.3872 6.4952 6.6033 6.7113
1500 2.6690 2.7752 2.8814 2.9877 3.0939 3.2001 3.3064 3.4126 3.5188 3.6250 3.7313 3.8375 3.9437 4.0499 4.1562 4.2624 4.3686 4.4749 4.5811 4.6873 4.7935 4.8998 5.0060 5.1122 5.2185 5.3247 5.4309 5.5371 5.6434 5.7496 5.8558 5.9621 6.0683 6.1745 6.2807 6.3870 6.4932 6.5994
1525 2.6252 2.7297 2.8342 2.9387 3.0432 3.1477 3.2521 3.3566 3.4611 3.5656 3.6701 3.7746 3.8791 3.9836 4.0880 4.1925 4.2970 4.4015 4.5060 4.6105 4.7150 4.8195 4.9239 5.0284 5.1329 5.2374 5.3419 5.4464 5.5509 5.6553 5.7598 5.8643 5.9688 6.0733 6.1778 6.2823 6.3868 6.4912
1550 2.5829 2.6857 2.7885 2.8913 2.9941 3.0969 3.1997 3.3025 3.4053 3.5081 3.6109 3.7137 3.8165 3.9193 4.0221 4.1249 4.2277 4.3305 4.4333 4.5361 4.6389 4.7417 4.8445 4.9473 5.0501 5.1529 5.2557 5.3585 5.4613 5.5641 5.6669 5.7697 5.8725 5.9753 6.0781 6.1809 6.2837 6.3865
1575 2.5419 2.6431 2.7442 2.8454 2.9466 3.0477 3.1489 3.2501 3.3512 3.4524 3.5536 3.6548 3.7559 3.8571 3.9583 4.0594 4.1606 4.2618 4.3629 4.4641 4.5653 4.6665 4.7676 4.8688 4.9700 5.0711 5.1723 5.2735 5.3746 5.4758 5.5770 5.6782 5.7793 5.8805 5.9817 6.0828 6.1840 6.2852
1600 2.5022 2.6018 2.7013 2.8009 2.9005 3.0001 3.0997 3.1993 3.2989 3.3985 3.4981 3.5976 3.6972 3.7968 3.8964 3.9960 4.0956 4.1952 4.2948 4.3944 4.4940 4.5935 4.6931 4.7927 4.8923 4.9919 5.0915 5.1911 5.2907 5.3903 5.4898 5.5894 5.6890 5.7886 5.8882 5.9878 6.0874 6.1870
1625 2.4637 2.5617 2.6598 2.7578 2.8559 2.9540 3.0520 3.1501 3.2481 3.3462 3.4442 3.5423 3.6404 3.7384 3.8365 3.9345 4.0326 4.1306 4.2287 4.3268 4.4248 4.5229 4.6209 4.7190 4.8170 4.9151 5.0132 5.1112 5.2093 5.3073 5.4054 5.5034 5.6015 5.6996 5.7976 5.8957 5.9937 6.0918
1650 2.4263 2.5229 2.6195 2.7161 2.8126 2.9092 3.0058 3.1023 3.1989 3.2955 3.3921 3.4886 3.5852 3.6818 3.7783 3.8749 3.9715 4.0681 4.1646 4.2612 4.3578 4.4543 4.5509 4.6475 4.7441 4.8406 4.9372 5.0338 5.1303 5.2269 5.3235 5.4201 5.5166 5.6132 5.7098 5.8063 5.9029 5.9995
1675 2.3901 2.4853 2.5804 2.6755 2.7707 2.8658 2.9609 3.0560 3.1512 3.2463 3.3414 3.4366 3.5317 3.6268 3.7219 3.8171 3.9122 4.0073 4.1025 4.1976 4.2927 4.3879 4.4830 4.5781 4.6732 4.7684 4.8635 4.9586 5.0538 5.1489 5.2440 5.3392 5.4343 5.5294 5.6245 5.7197 5.8148 5.9099
1700 2.3550 2.4487 2.5424 2.6362 2.7299 2.8236 2.9174 3.0111 3.1048 3.1986 3.2923 3.3860 3.4798 3.5735 3.6672 3.7609 3.8547 3.9484 4.0421 4.1359 4.2296 4.3233 4.4171 4.5108 4.6045 4.6983 4.7920 4.8857 4.9794 5.0732 5.1669 5.2606 5.3544 5.4481 5.5418 5.6356 5.7293 5.8230
1725 2.3209 2.4132 2.5056 2.5980 2.6903 2.7827 2.8751 2.9675 3.0598 3.1522 3.2446 3.3369 3.4293 3.5217 3.6141 3.7064 3.7988 3.8912 3.9836 4.0759 4.1683 4.2607 4.3530 4.4454 4.5378 4.6302 4.7225 4.8149 4.9073 4.9997 5.0920 5.1844 5.2768 5.3691 5.4615 5.5539 5.6463 5.7386
1750 2.2877 2.3788 2.4698 2.5609 2.6519 2.7430 2.8340 2.9251 3.0161 3.1072 3.1982 3.2893 3.3803 3.4714 3.5624 3.6535 3.7445 3.8356 3.9266 4.0177 4.1088 4.1998 4.2909 4.3819 4.4730 4.5640 4.6551 4.7461 4.8372 4.9282 5.0193 5.1103 5.2014 5.2924 5.3835 5.4745 5.5656 5.6567
1775 2.2555 2.3452 2.4350 2.5248 2.6146 2.7043 2.7941 2.8839 2.9736 3.0634 3.1532 3.2430 3.3327 3.4225 3.5123 3.6020 3.6918 3.7816 3.8713 3.9611 4.0509 4.1407 4.2304 4.3202 4.4100 4.4997 4.5895 4.6793 4.7690 4.8588 4.9486 5.0384 5.1281 5.2179 5.3077 5.3974 5.4872 5.5770
1800 2.2242 2.3127 2.4012 2.4897 2.5782 2.6668 2.7553 2.8438 2.9323 3.0209 3.1094 3.1979 3.2864 3.3750 3.4635 3.5520 3.6405 3.7291 3.8176 3.9061 3.9946 4.0831 4.1717 4.2602 4.3487 4.4372 4.5258 4.6143 4.7028 4.7913 4.8799 4.9684 5.0569 5.1454 5.2340 5.3225 5.4110 5.4995
1825 2.1937 2.2810 2.3683 2.4556 2.5429 2.6302 2.7175 2.8049 2.8922 2.9795 3.0668 3.1541 3.2414 3.3287 3.4160 3.5033 3.5907 3.6780 3.7653 3.8526 3.9399 4.0272 4.1145 4.2018 4.2891 4.3765 4.4638 4.5511 4.6384 4.7257 4.8130 4.9003 4.9876 5.0749 5.1623 5.2496 5.3369 5.4242
1850 2.1640 2.2502 2.3363 2.4224 2.5086 2.5947 2.6808 2.7670 2.8531 2.9392 3.0253 3.1115 3.1976 3.2837 3.3699 3.4560 3.5421 3.6283 3.7144 3.8005 3.8867 3.9728 4.0589 4.1451 4.2312 4.3173 4.4034 4.4896 4.5757 4.6618 4.7480 4.8341 4.9202 5.0064 5.0925 5.1786 5.2648 5.3509
1875 2.1352 2.2202 2.3051 2.3901 2.4751 2.5601 2.6451 2.7301 2.8150 2.9000 2.9850 3.0700 3.1550 3.2400 3.3249 3.4099 3.4949 3.5799 3.6649 3.7499 3.8348 3.9198 4.0048 4.0898 4.1748 4.2598 4.3447 4.4297 4.5147 4.5997 4.6847 4.7696 4.8546 4.9396 5.0246 5.1096 5.1946 5.2795
1900 2.1071 2.1910 2.2748 2.3587 2.4425 2.5264 2.6103 2.6941 2.7780 2.8619 2.9457 3.0296 3.1135 3.1973 3.2812 3.3651 3.4489 3.5328 3.6167 3.7005 3.7844 3.8682 3.9521 4.0360 4.1198 4.2037 4.2876 4.3714 4.4553 4.5392 4.6230 4.7069 4.7908 4.8746 4.9585 5.0423 5.1262 5.2101
1925 2.0797 2.1625 2.2453 2.3281 2.4108 2.4936 2.5764 2.6592 2.7419 2.8247 2.9075 2.9903 3.0730 3.1558 3.2386 3.3214 3.4041 3.4869 3.5697 3.6525 3.7352 3.8180 3.9008 3.9836 4.0663 4.1491 4.2319 4.3147 4.3974 4.4802 4.5630 4.6458 4.7285 4.8113 4.8941 4.9769 5.0596 5.1424
1950 2.0531 2.1348 2.2165 2.2982 2.3799 2.4616 2.5433 2.6251 2.7068 2.7885 2.8702 2.9519 3.0336 3.1153 3.1971 3.2788 3.3605 3.4422 3.5239 3.6056 3.6873 3.7691 3.8508 3.9325 4.0142 4.0959 4.1776 4.2593 4.3411 4.4228 4.5045 4.5862 4.6679 4.7496 4.8313 4.9131 4.9948 5.0765
1975 2.0271 2.1078 2.1884 2.2691 2.3498 2.4305 2.5112 2.5918 2.6725 2.7532 2.8339 2.9146 2.9952 3.0759 3.1566 3.2373 3.3179 3.3986 3.4793 3.5600 3.6407 3.7213 3.8020 3.8827 3.9634 4.0441 4.1247 4.2054 4.2861 4.3668 4.4475 4.5281 4.6088 4.6895 4.7702 4.8509 4.9315 5.0122
2000 2.0017 2.0814 2.1611 2.2407 2.3204 2.4001 2.4798 2.5594 2.6391 2.7188 2.7984 2.8781 2.9578 3.0375 3.1171 3.1968 3.2765 3.3561 3.4358 3.5155 3.5952 3.6748 3.7545 3.8342 3.9138 3.9935 4.0732 4.1529 4.2325 4.3122 4.3919 4.4715 4.5512 4.6309 4.7106 4.7902 4.8699 4.9496
2025 1.9770 2.0557 2.1344 2.2131 2.2918 2.3705 2.4491 2.5278 2.6065 2.6852 2.7639 2.8426 2.9213 3.0000 3.0786 3.1573 3.2360 3.3147 3.3934 3.4721 3.5508 3.6295 3.7082 3.7868 3.8655 3.9442 4.0229 4.1016 4.1803 4.2590 4.3377 4.4163 4.4950 4.5737 4.6524 4.7311 4.8098 4.8885
2050 1.9529 2.0306 2.1084 2.1861 2.2638 2.3416 2.4193 2.4970 2.5747 2.6525 2.7302 2.8079 2.8856 2.9634 3.0411 3.1188 3.1966 3.2743 3.3520 3.4297 3.5075 3.5852 3.6629 3.7407 3.8184 3.8961 3.9738 4.0516 4.1293 4.2070 4.2848 4.3625 4.4402 4.5179 4.5957 4.6734 4.7511 4.8289
2075 1.9294 2.0062 2.0830 2.1598 2.2365 2.3133 2.3901 2.4669 2.5437 2.6205 2.6973 2.7741 2.8509 2.9277 3.0045 3.0813 3.1580 3.2348 3.3116 3.3884 3.4652 3.5420 3.6188 3.6956 3.7724 3.8492 3.9260 4.0028 4.0795 4.1563 4.2331 4.3099 4.3867 4.4635 4.5403 4.6171 4.6939 4.7707
2100 1.9064 1.9823 2.0582 2.1340 2.2099 2.2858 2.3617 2.4376 2.5134 2.5893 2.6652 2.7411 2.8169 2.8928 2.9687 3.0446 3.1205 3.1963 3.2722 3.3481 3.4240 3.4998 3.5757 3.6516 3.7275 3.8033 3.8792 3.9551 4.0310 4.1069 4.1827 4.2586 4.3345 4.4104 4.4862 4.5621 4.6380 4.7139
2125 1.8840 1.9590 2.0340 2.1089 2.1839 2.2589 2.3339 2.4089 2.4839 2.5588 2.6338 2.7088 2.7838 2.8588 2.9338 3.0088 3.0837 3.1587 3.2337 3.3087 3.3837 3.4587 3.5336 3.6086 3.6836 3.7586 3.8336 3.9086 3.9836 4.0585 4.1335 4.2085 4.2835 4.3585 4.4335 4.5085 4.5834 4.6584
2150 1.8621 1.9362 2.0103 2.0844 2.1585 2.2326 2.3068 2.3809 2.4550 2.5291 2.6032 2.6773 2.7514 2.8255 2.8997 2.9738 3.0479 3.1220 3.1961 3.2702 3.3443 3.4184 3.4926 3.5667 3.6408 3.7149 3.7890 3.8631 3.9372 4.0114 4.0855 4.1596 4.2337 4.3078 4.3819 4.4560 4.5301 4.6043
2175 1.8407 1.9139 1.9872 2.0605 2.1337 2.2070 2.2802 2.3535 2.4268 2.5000 2.5733 2.6465 2.7198 2.7931 2.8663 2.9396 3.0129 3.0861 3.1594 3.2326 3.3059 3.3792 3.4524 3.5257 3.5989 3.6722 3.7455 3.8187 3.8920 3.9652 4.0385 4.1118 4.1850 4.2583 4.3315 4.4048 4.4781 4.5513
2200 1.8198 1.8922 1.9646 2.0370 2.1095 2.1819 2.2543 2.3268 2.3992 2.4716 2.5440 2.6165 2.6889 2.7613 2.8338 2.9062 2.9786 3.0510 3.1235 3.1959 3.2683 3.3408 3.4132 3.4856 3.5580 3.6305 3.7029 3.7753 3.8478 3.9202 3.9926 4.0650 4.1375 4.2099 4.2823 4.3548 4.4272 4.4996
2225 1.7993 1.8709 1.9425 2.0142 2.0858 2.1574 2.2290 2.3006 2.3722 2.4438 2.5155 2.5871 2.6587 2.7303 2.8019 2.8735 2.9451 3.0168 3.0884 3.1600 3.2316 3.3032 3.3748 3.4464 3.5181 3.5897 3.6613 3.7329 3.8045 3.8761 3.9478 4.0194 4.0910 4.1626 4.2342 4.3058 4.3774 4.4491
2250 1.7793 1.8501 1.9210 1.9918 2.0626 2.1334 2.2042 2.2751 2.3459 2.4167 2.4875 2.5583 2.6291 2.7000 2.7708 2.8416 2.9124 2.9832 3.0541 3.1249 3.1957 3.2665 3.3373 3.4082 3.4790 3.5498 3.6206 3.6914 3.7622 3.8331 3.9039 3.9747 4.0455 4.1163 4.1872 4.2580 4.3288 4.3996
2275 1.7598 1.8298 1.8998 1.9699 2.0399 2.1100 2.1800 2.2501 2.3201 2.3901 2.4602 2.5302 2.6003 2.6703 2.7403 2.8104 2.8804 2.9505 3.0205 3.0905 3.1606 3.2306 3.3007 3.3707 3.4407 3.5108 3.5808 3.6509 3.7209 3.7909 3.8610 3.9310 4.0011 4.0711 4.1412 4.2112 4.2812 4.3513
2300 1.7406 1.8099 1.8792 1.9485 2.0178 2.0870 2.1563 2.2256 2.2949 2.3642 2.4334 2.5027 2.5720 2.6413 2.7106 2.7798 2.8491 2.9184 2.9877 3.0569 3.1262 3.1955 3.2648 3.3341 3.4033 3.4726 3.5419 3.6112 3.6805 3.7497 3.8190 3.8883 3.9576 4.0269 4.0961 4.1654 4.2347 4.3040
2325 1.7219 1.7905 1.8590 1.9275 1.9961 2.0646 2.1331 2.2017 2.2702 2.3387 2.4073 2.4758 2.5443 2.6129 2.6814 2.7499 2.8185 2.8870 2.9555 3.0241 3.0926 3.1611 3.2297 3.2982 3.3667 3.4353 3.5038 3.5724 3.6409 3.7094 3.7780 3.8465 3.9150 3.9836 4.0521 4.1206 4.1892 4.2577
2350 1.7036 1.7714 1.8392 1.9070 1.9748 2.0426 2.1104 2.1782 2.2460 2.3139 2.3817 2.4495 2.5173 2.5851 2.6529 2.7207 2.7885 2.8563 2.9241 2.9919 3.0597 3.1275 3.1953 3.2631 3.3309 3.3987 3.4665 3.5343 3.6022 3.6700 3.7378 3.8056 3.8734 3.9412 4.0090 4.0768 4.1446 4.2124
2375 1.6857 1.7528 1.8199 1.8869 1.9540 2.0211 2.0882 2.1553 2.2224 2.2895 2.3566 2.4237 2.4908 2.5579 2.6250 2.6920 2.7591 2.8262 2.8933 2.9604 3.0275 3.0946 3.1617 3.2288 3.2959 3.3630 3.4301 3.4971 3.5642 3.6313 3.6984 3.7655 3.8326 3.8997 3.9668 4.0339 4.1010 4.1681
2400 1.6681 1.7345 1.8009 1.8673 1.9337 2.0001 2.0665 2.1329 2.1993 2.2656 2.3320 2.3984 2.4648 2.5312 2.5976 2.6640 2.7304 2.7968 2.8632 2.9296 2.9960 3.0624 3.1288 3.1951 3.2615 3.3279 3.3943 3.4607 3.5271 3.5935 3.6599 3.7263 3.7927 3.8591 3.9255 3.9919 4.0583 4.1246
2425 1.6509 1.7166 1.7823 1.8480 1.9137 1.9795 2.0452 2.1109 2.1766 2.2423 2.3080 2.3737 2.4394 2.5051 2.5708 2.6365 2.7022 2.7680 2.8337 2.8994 2.9651 3.0308 3.0965 3.1622 3.2279 3.2936 3.3593 3.4250 3.4907 3.5565 3.6222 3.6879 3.7536 3.8193 3.8850 3.9507 4.0164 4.0821
2450 1.6341 1.6991 1.7641 1.8292 1.8942 1.9593 2.0243 2.0893 2.1544 2.2194 2.2844 2.3495 2.4145 2.4796 2.5446 2.6096 2.6747 2.7397 2.8047 2.8698 2.9348 2.9999 3.0649 3.1299 3.1950 3.2600 3.3251 3.3901 3.4551 3.5202 3.5852 3.6502 3.7153 3.7803 3.8454 3.9104 3.9754 4.0405
2475 1.6176 1.6819 1.7463 1.8107 1.8751 1.9395 2.0038 2.0682 2.1326 2.1970 2.2614 2.3258 2.3901 2.4545 2.5189 2.5833 2.6477 2.7120 2.7764 2.8408 2.9052 2.9696 3.0339 3.0983 3.1627 3.2271 3.2915 3.3558 3.4202 3.4846 3.5490 3.6134 3.6778 3.7421 3.8065 3.8709 3.9353 3.9997
CAPEX
LCOE ($ ¢/kWh) Sensitivitiy Analysis - CAPEX & OPEX
OPEX
CAPEX
WACC
CAPEX
AnnualSpecifcEnergyYieldkWh/kWp
Sensitivity Analysis 1D & 2D Tables
Sensitivity
Analysis
3D Charts
Model Inputs & Outputs Summary
Output
Parameters
Charts

Phase 3: Feasibility Study
 Developed the Prefeasibility Study in to Detailed Report. Assign Suitably Qualified &
Experienced Study Team, Create Responsibility Matrix for the Team, to Include the Assigned
Feasibility Study Deliverables and Their Associated TimeLine / Program. Hold Weekly
Progress Review Meetings.
 Utilize Site Specific Data for all Parameters, including Design, Financing and Execution.
 Establish a Detailed Risk Register and Keep Updating with Mitigation Measures Throughout
the Development of this Phase.
 Develop the Design Including Surveys (Topo, Geotech), Site Plans, SLDs, Schematics, Grid
Connection with Grid Impact Study Where Necessary, Solar Resource Measurement
(Preferred 1 Yr On Site, & 10/20 Yr Bankable Satellite Data) & Energy Yield (P90), Initial
Equipment Selections, Cost Plan, and O&M requirements.
 Create Detailed Permitting & Licensing Roadmap and Initiate Discussions with Stakeholders
and all AHJ (Authorities Having Jurisdiction) to obtain consents or initials NOCs. Produce
Requirements Matrix, Schedule/Program, and Estimate Accurate Costs.
 Establish Initial ESIA and Relevant EHS requirements. Include TIS where necessary. Include
Applicable Requirements of Financing Institutions (e.g. Equator Principles, etc.)
 Produce Detailed Financial Model and Scenario / Sensitivity Analysis Which Cover All
Variables Thresholds and Obtain Commitment from Respective Stakeholders.
 The Detailed Financial Model Shall Cover: IRR, LCOE, CAPEX, OPEX, D/E Gearing Ratio,
CFADS, DSRA, MRA, DSCR, LLCR, PLCR, EBL, WC, SBWC, PPA/Tariffs, ECA, Incentives If
Any, Senior Debt Sources/ Model & Rates (Fixed, Libor + Margin, Mini Perm, Int. Swap) etc.
9

Phase 3: Feasibility Study
 Finalize and Obtain Initial Consent for All Access Requirements (land, roads, LUP, ROW,
community, etc.)
 Finalize Level 2 or 3 Project Program and Obtain Stakeholders Buy In.
 Determine the Project Company (SPV) Legal, Tax, Insurance, Accounting/Reporting
Requirements, including setup and operation costs. Details must include offshore/onshore
setup requirements/plan w/ respective banks accounts, etc.
 Finalize the finance plan with equity and shareholders contribution, debt sources and obtains
committed pricing levels.
 Keep the Financial Model Updated as details gets secured. Procure an External Financial
Advisor, if necessary, to lead the discussion with shortlisted funding institutions, term sheets,
as well as further optimized financial engineering. Update the Financing Plan with Financing
Institutions Offers & Commitments.
 Identify all Types of Warranties and Guarantees Which are Necessary for Bankable Project
(non-recourse, or limited Recourse). Validate and Obtain Stakeholders Buy and
Commitments. These may include EPCs, Major Equipment Vendors, ECA, MLIA, MIGA
Offtaker, Local State / Government, etc. Incorporate These in to Contracts.
 Procure the Owners Technical Advisor (OE) and Legal Advisors, to support the process of
Contracts Drafting, Tendering, Implementation & Acceptance (ITB, MFS, EPC, O&M, PPA,
LLA, SHA, SPV, etc.)
 Execute Corporate Risk Management Docs & Obtain Corporate Approval For the Feasibility
Study to Conclude that Project is Feasible & Economically Viable.
10

Contracts
Success
Factors
Expertise
&
Know-How
Good
Communication
Negotiation
Risk
Management
Competitiveness
SPV
SHA
Land
Lease
Grid
Connect.
PPA
Utilities
Connect.
ECA
MIGA
Gov.
Credit
Support
InsuranceEBL
Hedging
Senior
Debt
Lender(s)
O&M
EPC
OE/IE
Legal
Advisor
Fin.
Advisor
Phase 4: Contracts & Financial Close
Contracts Overview
11

Key Consideration For SPV Contracts (Shortlist) – Head of Terms Waterfall, Term Details Matter !
12
EPC O&M PPA Lender(s) Sr. Debt Fin.
Scope Of Work Scope Of Work Term & Phases MLA & Senior Lenders
Price Basis Price Basis Development Security Approved Banks
Warranties Warranties Conditions Precedent to Closing Term Facilities, Incl. Standby
LNTP & NTP LNTP & NTP Documents Delivered After Closing Equity Contributions & Retention
Soil & Ground Risk Soil & Ground Risk Min. Functional Specifications Equity Bridge Loan
Guaranteed PR, Pdc, Pac Guaranteed PR Testing & Acceptance Facilities Ranking, Facilities Availability
Bonds Bonds Metering Interest, Periods, Repayment Profile
Risk Allocation Risk Allocation Billing & Payment Refinancing, If applicable
Testing, Acceptance & Handover Performance Appraisal Sale & Purchase Obligations Margin, Commitment, Upfront Fees
Contract & Payments Milestones Payment Plan & Milestones Localization Min DSCR @ P50 @ P90
Order Of Precedence Order Of Precedence Interconnection Conditions DSCR for Div. Pay / DSCR For Default
Design Spare Parts, Consumables Interfaces LLCR & PLCR
Licenses & Permits Licenses & Permits Approvals True Up & Max GR
Insurance Insurance Operations & Maintenance DSRA & MRA/MMRA
Variations Variations LDs for Delay (PCOD) Credit Guarantee(s) / Support
LDs Performance & Delay LDs Performance Offtaker Credit Guarantee / Support Development & CAPEX & OPEX
Set Off Set Off Novation Selected EPC
DLP Training Insurance PCOD & Completion
Liabilities Incl. Limit & Decennial Liabilities Incl. Limit & Decennial Liabilities SPV Accounts & Distribution
Indemnification Indemnification Indemnification CTA
Assignment Assignment Assignment Hedging
Termination Termination Termination Securities
Dispute Resolution Dispute Resolution Dispute Resolution Default
Arbitration & Place Arbitration & Place Arbitration & Place Conditions Precedent For Drawdown
Governing Law & Jurisdiction Governing Law & Jurisdiction Governing Law & Jurisdiction Governing Law & Jurisdiction

 Finalize Detailed Project Implementation Program.
 Continue to Keep Accurate Track of All Development Expenses (direct, indirect, incl. man-
hours). These are Reportable & Chargeable to SPV (subject to Audit & by LTA).
 Prepare Detailed Sub-Program for Contracting Approach. Determine Cross-Contracts
Dependencies, Critical Path, & Respective Conditions Precedent for Execution.
 Prepare Docs Register & Docs Packages & Submit to AHJ to Obtain Initial Preliminary
Permits, such as Planning, LUP, Access, TIS, LLA, ESIA, Grid Connection, Generation &
Operator Licenses, Construction. Allow Ample Time for the Processes. Final Permits such as
Final Construction will be Obtained in the Next Phase upon completion of Detailed Design.
 Amend Design Based on AHJ Comments or Conditional Approval, as well as Other
Stakeholders Requirements (Development Banks or Other Financing Institutions).
 Prepare & Execute ITB for EPC & O&M. Rank, Negotiate & Select Shortlisted Preferred
Bidder(s). ITB is Preceded by Stringent Prequalification Process. EPC & O&M shall be fixed
Price Turnkey Contracts “Fully Wrapped”.
 Finalize Bankable Energy Yield Report (PVsyst P50 & P90). The Model shall be Audited by
Approved 3rd Party Independent Specialist.
 Finalize Financial Model, Its Cost Plans (Development, SPV, CAPEX, OPEX), Quarterly
Proforma Cashflow, & Scenario Analysis. The Model Input & Output Parameters Shall Meet
Financing Institutions Acceptable Thresholds.
 Prepare & Execute OE/IE Contract. Prepare & Coordinate with LTA and LLA.
13

 Prepare & Negotiate Gird Connection Agreement and PPA Agreement.
 Finalize Project Risk Register. Risk are Categorized (Technical, Commercial, Financial, Legal, Execution),
Qualified, Quantified, Mitigated, Weighted, & Assigned Owners.
 Complete Technical-Commercial Due Diligence Report (OE/IE/LTA), as Required by Stakeholders.
Incorporate Agreed Comments in to Design & Contracts.
 Negotiate Markups/Comments/Deviations, & Complete All Contracts Negotiations. Make Sure All Contracts
are Acceptable to and Signed Off by Financing Institution(s). Head of Term & Other Details like Equipment
Selection (3-5 options shortlisted) & Warranties must be Bankable & inline w/ Financing Institutions
Acceptable Thresholds & Guidelines (Reputed Manufacturer, Long Term Financial Stability Forecast, Proven
Excellent Track Record, Certified Products, Local Regulatory Compliant (AVL), Class A & No Vague Warranty
Terms incl. Performance, 3rd Part Insurance Coverage, Eff./Tech Performance Inline w/ Highest Tier, Suitable
for Project Environmental Conditions, Serviceability, MTBF, etc.)
 Prepare & Execute Insurance Program Contracts (Limited Notice to Proceed – LNTP)
 Execute EPC & O&M Contracts (LNTP subject to Financial Close)
 Execute Gird Connection Agreement and PPA (LNTP subject to Financial Close).
 Prepare Shareholders’ POAs & RBDs (notarized/legalized) & Execute SHA & Incorporate SPV as a Legal
Entity. All Projects Agreements & Contracts shall be in Name of SPV. Ensure SPV’s operations are setup as
well: Office Lease and Fitout Contracts, HR, IT & Cloud Services, Accounting & Finance, Banking, Business
Insurances PI/D&O/PPL/WC/EAR/CAR, Healthcare Insurance, QMS & PMO Processes & Procedures.
 Negotiate & Finalize Lenders’ & Fin. Services Contracts (Senior Debt, Equity Bridge Loan, Hedging, Swaps,
Guarantees, Upfront / Closing Fees, Annual Fees, etc.). Execute Contracts & Term Sheets.
 Upon Achieving Financial Close, Update Corporate Risk Management Docs with Finalized and/or Amended
Terms of the Feasibility Study Approval. Obtain Corporate Approval For the Issuing NTPs (Notice to Proceed)
for All Contracts.
14

Phase 5: Detailed Design & Permitting
 SPV Issues NTPs (Notice to Proceed) for All Contracts. SPV’s Vital KPI is Maintaining a Solid
Contract & Claims Management Team Throughout the Development Phases.
 EPC to Produce a Comprehensive Project Execution Plan (PEP) & Sub-Plans. The First Focus
is Org Chart (Back Office & Site), Document Control System, Baseline Program & Cashflow.
 EPC to Produce Design Management Plan incl. WBS for DPPS (Design Permitting
Procurement Schedule). DPPS Shall List all DD Docs w/ Respective Production Timeline linked
to Packages Submission to AHJ as well as to Procurement Initiation. EPC to Incorporate
Adequate Review Cycles for Relevant Stakeholders.
15
WORK PACKAGE DETAILS
WBS
WP Code
No.
Work Package Description
************************************
Permit Description
Group
Area
Package
Manager
LeadDesigner
*******************
EXT.Designer
QS
*******************
Permit
Coordinator
AuthorityHaving
Jurisdiction
(AHJ)
Planned
*************************
Actual / Forecast
DESIGN PERMITTING
30% (Stage C-
D) Design
Complete
60% (Stage E)
Design
Complete
90% (Stage
F1) Design
Complete
IFC (Stage F2)
Design
Complete
Package
Design
Available
Scope Review
/ Prepare BoQ
(weeks)
Package Design
available for
Permitting &
OE/IE/LTA
Submission
Prepare Permit
Package
(weeks)
Issue Design
for Permit
Package to
OE/IE/LTA
Cycle 1
(weeks)
OE/IE/LTA
Permit
Package
Incorp.
Comments &
Re-Submit &
Receive
Approval
PERMITTING PROCUREMENT
Submit Design
Permit
Package to
AJJ
Cycle 1
(Weeks)
AHJ
Permit Package
Incorp.
Comments
Re-Submit to
AHJ
AHJ
Permit
Approval &
Issuance
Prepare
Tender
Package
(weeks)
HOLD
For Permit
Approval
YES/NO
***************
DESIGN
STAGE
Issue Tender Tender Period
(weeks)
Procurement
Phase Continues…..

 Ensure that EPC’s Design Management Plan (DMP) Its Document Register (Deliverables
Schedule) are Updated with Previous Development Phases Approved Comments /
Changes & is Regulatory Compliant. Expert Understanding of Local Code Compliance
incl. Sustainability is an Extremely Critical KPI for Project Success & Bankability. DMP
Must be Submitted for Approval by OE/IE/LTA
 Another Bankability KPI (initial screening at PQ phase) is a Well Defined Design
Management Procedure (SOP). The Procedure Shall Cover: Roles/Responsibilities,
Process Flow Chart w/ Gates, Work Instructions for Sub Processes, Progress % and
Stages Definition (30%/60%/90%/IFC, Concept/Basic/Detailed/IFC)
Templates/Forms/Checklist/Logs, Delivery Process Flow Charts, RFI & Change Control
Process, Safety In Design, Risk Register, Approval Process Flow, Interface &
Coordination.
 Thorough Understanding of Design Deliverables SOW is a vital KPI. EPC Shall Deliver a
Complete Design Production Schedule (Document Register), w/ Proper Monitoring &
Tracking Controls. A Typical Design Deliverables Document Register as Follows:
.
16
DISCIPLINE: XXXXXXXXXXX Planned Issue Date
Current %
of
Completion
DESIGN PHASE: XXXXXXXX
S/N Doc. Number Doc. Title Scale Size
Final
Rev. 30% 60% 90%
OE/
IE/
LTA AHJ IFC
General Sheets:
Details:
Schematics/SLDs:
Layouts/Plans:
Elevations/Sections:
Schedules:
Calculation:
Studies/Reports:
Specifications:
Continues……

 Key Considerations for Bankable Design (Shortlist)
17
 Competitive LCOE vs. Optimized Design
 Balance CAPEX/OPEX vs. Value Eng’g
 Quality Assured vs. Scope/Schedule/Cost
 CAD Format is Compliant w/ Local Codes
 Site Solar Resource is Measured 1 Yr (hourly)
 Solar Resource Checked vs Satellite 20 Yr
 Satellite Solar Resource is Credible DB, P50/90
 PV Field Layout Optimized (tilt/orientation)
 PV Field Layout Meets O&M & FLS Reqmnt
 PV Field Shading Loss (row/nearby) <1.5%
 PV Soiling Loss Calc’d Based on Site Cond. &
Adopted Cleaning Plan
 PV Eff, Deg<0.6% TR., LID, PID, +Tol, FT, ELT,
IECs, ISO 2859-1, BOM, CDF, All Validated
 PVsyst Uses Validated met/pan/ond Files
 All Auxiliary Power Consumption Calc’d &
Accounted For in PVsyst Energy Yield Est
 Comply w/ IEC 62548 PV Design Requirements
 Topo & Geotech Studies Results Adhered To
 Civil/Structural Design & Materials Suitable for
Site Soil & Environmental Conditions (Corrosion,
Seismic, Wind, etc), PE Stamped
 Drainage & Flooding Prevention is Included,
Based on Site Environmental Conditions
 Electrical Studies PSS/E (GIS, LF, VD, SC, HR,
CR, TRNS) & Eqpt Rated Accordingly
 HAZOP Study per IEC 61882, if Required
 Electrical Protection Measures Correct & are In
Line w/ Int’l Standards & Local Code
 Grounding/Earthing/Lightning Protection is
Correct for the Site Conditions
 PV String Voltage vs. Min/Max Temp vs. Inverter
Thresholds Voc/Vp is Adequate
 Total Cables Loss DC, AC Calc < 1.5% & 1.0 %
 Inverter Sizing is Correct (MPPT Window, Power
Ratio, PF Range, A.Temp, Eff, etc.), IECs Comp.
 XFMR & S/G Selection/Sizing/Protection Correct
 Cables Management & Trenches Code Compl.
 MV/HV Net & S/S Comply w/ Trans/Dist Code
 All Eqpt Interfaces I&C/Comm/Alarms are Incl. &
Correct, Detailed Interface Matrix is Validated
 Security Sys. CCTV, Acc Con, Intrusion, Fence,
Lighting , Adequate for Risks & Insurance
 Tariff Grade Metering System is Compliant
 SCADA System is Included per Industry Stds.
 SCADA Grid Interface is Thoroughly Engineered
for Local Code Compliance
 Weather Station(s) Instruments Classes Correct.
 Equipment IP Validated for Site Conditions
 All Equipment Selection Meets Restricted /
Approved Vendor List (by AHJ)
 Overall Design and All Equipment Meet Set Min
Func/Perf Specs (MFS/MPS), Warranties, Long
Term Servicing & Spare Parts Availability.

 Ensure that EPC’s Permitting Plan and Its Schedule are Updated with Previous Development
Phases Approved Comments/Changes & is Regulatory Compliant. Expert Understanding of
Permitting Process is an Extremely Critical KPI for Project Success & Bankability. A Permitting
Flow Chart is a Also Mandatory Deliverable to Demonstrate Interfaces & Sequencing.
 Execute the Permitting Plan. The Permits are in 3 Groups: NOC/Planning, Pre-Construction,
Construction & Commissioning. The typical permits are (obtained during project phases):
18
PERMITTING MASTER SCHEDULE
S.
No.
Type of Permit Authority
(AHJ)
Permit
Owner
Information Required for Application
***************************************************
Design Packages Required
Predecessor Successor Durations
(Weeks)
Start
Planned
**********
Actual
Finish
Planned
***********
Actual
Permit
Status
• SPV Incorporation Licenses
• SPV Generation License
• Equipment Import Permit
• Land/Plot Affection Plan
• Land Lease Agreement
• Land Use Permit (UPC)
• Various Appointment Letters
• Various NOCs from AHJs
• Environmental Permit (ESIA)
• Traffic Control Permit (TIS)
• EHS Permit (SSEHSP)
• Mobilization Permit
• Grading Permit
• Excavation/Shoring Permit
• PV Structural Design Permit
• Building ARC Design Permit
• Building STR Design Permit
• Building MEP Design Permit
• Building/Construction Permit
• LV Design Permit
• LV Shop Dwg Permit
• MV/HV Design Permit
• MV/HV Shop Dwg Permit
• Substation ARC Design Permit
• Substation STR Design Permit
• Substation MEP Design Permit
• Grid/SCADA Interface Design
Permit
• U/G Cable / OHL Route Permit
• Fire/Life/Safety Design Permit
• Fire/Life/Safety Shop Dwg Permit
• ICT Design Permit
• Security Systems Design Permit
• Infra/Road Design Permit
• Drainage Design Permit
• Water Conn. Design Permit
• Sewerage Design Permit
• Various AHJs Inspections App.
• Building Completion Permit
• HV/MV Energization Permit
• LV Energization Permit
• Others, etc.

Phase 6: Procurement & Construction
 EPC Shall Produce Project Procurement & Subcontracting Plan (PPSP) Which Must be Submitted for
Approval by OE/IE/LTA, It Includes Responsibilities Matrix, Vendor/Subcon Prequal Process,
Vendor/Subcon EHS & QA/QC & Closeout Requirements. Design Permitting Procurement Schedule
(DPPS) is also an Integral Part of PPP. The PPSP Shall cover Procurement from Cradle to Grave:
 PPP Includes Logistics Tracker Schedule Which Integrates the 5-Level Commissioning Requirements:
19
PERMITTING PROCUREMENT
Submit Design
Permit
Package to
AJJ
Cycle 1
(Weeks)
AHJ
Permit Package
Incorp.
Comments
Re-Submit to
AHJ
AHJ
Permit
Approval &
Issuance
Prepare
Tender
Package
(weeks)
HOLD
For Permit
Approval
YES/NO
***************
DESIGN
STAGE
Issue Tender
To PQ
Vendors
&
Subcons
Tender Period
(weeks) Procurement
Phase Continues…..
PROCUREMENT
Tender
Return
Technical
Eval
(weeks)
Technical
Eval
Completed
Commercial
Eval
(weeks)
Commercial
Eval
Completed
Final
Negotiation
(weeks)
Submit
Recomm. to
Award
(RTA)
RTA
Approval
(weeks)
RTA
Approved
Finalize
Subcon
(weeks)
Award
Subcon
Material
Submittal
(weeks)
MS
Approval
Lead Period
(weeks)
Commence
on Site
Project
No.
Log Date: LOGISTICS TRACKER SCHEDULE
WBS ID Package Name Logistics Chain
Package Current
Status Summary
PM/CM
Package
Owner
Name
Proc &
Logistics
Officers
Names
Vendor &
Contacts Origin
Contract
No. &
Date
Delivery
Time
EXW -
Weeks
L1
HOLD for
FAT Y/N
L1
HOLD for
TPI Y/N
FAT / TPI
/ Routine
Test
Participate
Cos. &
Names
FAT / TPI
/ Routine
Test Time
Weeks
FAT / TPI
/ Routine
Test Start
Date
FAT / TPI
/ Routine
Test Pass
Date
Marine
Insurance
Notify
Y/N
Factory
Release
Date
LOGISTICS TRACKER SCHEDULE
Freight Time
Weeks
Freight Mode
Sea / Air /
Courier
Package
Mode Bulk /
Containerized
/ Palletized
Frieght
Service
Provider &
Contacts
B/L or AWB
Received Y/N
Point of Entry
Seaport or
Airport ETD Date ETA Date
Customs
Duties
Exemption
Y/N
Port
Clearance
Date
Oversized
Cargo Police
Escort
Required Y/N
Delivery Alert
Sent to Site
Y/N
Goods
Unloading
Requirement
(loose
cartons,
forklift, crane,
etc.)
Goods
Receipt at
Site Date
LOGISTICS TRACKER SCHEDULE
L2
Site Inspection
Date & Report
No.
L2
Site Inspection
Participants
Cos. & Names
Site Storage
Location -
Laydown Area
Lot No. or
Store No.
TOTAL
Planned
Delivery Time
Weeks
Planned
Delivery Date
TOTAL Current
Estimated
Delivery Time
Weeks
TOTAL Current
Float Time
Weeks
Negative Float
or Variance
Notification to
Package
Owner Date
TOTAL Actual
Delivery Time
Weeks

Phase 6: Procurement & Construction
 EPC Shall Produce Project Execution Plan (PEP) Which Includes Construction Execution
Management (CEMP) & Shall be Submitted for Approval by OE/IE/LTA.
 EPC’s CEMP Shall be Validated to Comply with Finance Contracts, PPA, Insurance, Land Lease,
& Applicable AHJs Standards.
 During Construction, EPC to Continuously Report to & Undertake Inspections by OE/IE/LTA.
 Various Elements of CEMP will Require AHJs Approvals (Permits & Inspections).
 EPC’s CEMP shall Include the Following:
20
IPP Solar PV Project Development Roadmap ©Fadi Maalouf Ref.: IPP-PV-Roadmap-fm170502-R2
2-May-2017
 Responsibilities Matrix
 Interface Matrix
 Updated Program Level 4 or 5
 Detailed Lookahead Subprogram 4/8 Weeks
 Project Communication & Reporting Plan
 Risk Plan w/ Updated Risk Register
 Mobilization & Site Logistics Plan
 Construction Waste Management Plan
 Site Specific EHS Plan, Safety First
 Project Quality Plan
 Project Commissioning Plan
 Project Close Out Plan
IPP
OE/IEProcure
Const.
Permit
AHJ
Design
IPD
Construction Success
Based On
Integrated Project Delivery (IPD)
EHS
QC

Phase 7: Testing & Acceptance
 Early on Post NTP, EPC Shall Produce Project Testing & Commissioning Plan (PTCP) Which
Shall be Submitted for Approval by OE/IE/LTA/AHJ. Ensure Plan is Compliant w/ Contracts
(EPC, PPA, Grid Connection, Sr. Debt Finance, etc.).
 The Testing & Acceptance Approach Shall Follow 5-Level Std Approach. Level 1 (Factory
Acceptance Test / 3rd Party Inspection) & 2 are Integrated w/ Procurement. Level 3 & 4 (Site
Acceptance Test) are Integrated w/ Construction. 90 Days Prior IST (Integrated Systems Test),
EPC Shall Produce Final Plan.
 Prior to IST, Closeout Activities Shall be Completed (Training, As-Built, Snag/Punch List, O&M
Manuals, S. Parts, Project Dossier) The Guaranteed Performance Ratio PRg & Plant Annual
Availability Ag shall be Repeated During 2 Yrs EPC Warranty (DLP) at End of Yr1 & Yr2 (EPC
undertakes First 2 Yrs of O&M). EPC Contract Completion Acceptance Milestones are:
21
At Origin
FAT
3rd Party
Inspection
(TPI)
Level 1
At Site
Material
Receipt
Inspection
Level 2
Installation
Verification
Pre-
Commission
ITP
Pac & Pdc
Level 3
SAT
(Packages)
Level 4
IST
PRg
Ag
Level 5
Installation
Verification
Pre-
Commission
ITP
Pac & Pdc
Level
3
SAT
(Packages)
Level
4
IST
PRg
Ag
Level
5
Annual
PRg1
DF1
Ag1
Th. Imaging
O&M
Year 1
Annual
PRg2
DF2
Ag2
Th. Imaging
O&M
Year 2
Mechanical
Completion
Practical
Completion
Provisional
Completion
PCOD
Final
Completion
Interim
Completion

Phase 7: Testing & Acceptance
22
 Key Considerations for 5-Level Testing & Acceptance (Shortlist)
General
 EPC to Produce Detailed Testing,
Commissioning, & Acceptance Program
 EPC to Ensure Compliance of Giving Timely
Advance Notices to OE/IE/LTA/AHJ for
Witnessing Inspections & Tests (all levels)
Level 1
 Witnessed FAT/TPI for PV Modules Flash Test.
EL Test, BOM & CDF, Batch Acceptance
Sampling per ISO 2859-1 Level S-4
 TPI for PV Mounting Structure Mill Certificates &
Protection Coating Gauge
 Witnessed FAT for Inverters, Transformers,
Reactors, Switchgears, Gen-Sets, UPSs,
Chillers
 Witnessed FAT for MV/HV Cables
 Routine Test Report for Type Approved Certified
Materials & Check Validity of Certificates
 TPI Calibration Certificates (e.g. Energy Meters
& Meteo Sensors)
Level 2
 Detailed Material Receipt & Inspection Report
(MRIR) for All Materials, No Exceptions
 Regular Inspections for Laydown & Storage
Areas, Validate Compliance w/ Eqpt
Manufacturers’ Requirements
Level 3
 Implement Inspection & Test Plan (ITP),
covering all Systems Packages
 All Site Testing Instruments/Meters w/ Valid
Calibration Certificates
 ITP to Comply w/ IEC 60364-6, LV Electrical
Installations – Part 6: Verification
 ITP to Comply w/ IEC 62446-1:2016, PV
Systems - Part 1: Grid Conn. Sys. - Doc,
Commg. Tests and Inspection.
 HV/MV Equipment Tests per IEC
 Pac & Pdc Installed Capacity Validation
Level 4
 Start up Tests per IEC 62446 & 60346
 SAT w/ Pre-Approved Protocols for All Systems
(Inverter, Transformer, Reactors, Switchgear,
UPS, Gen-Sets, Grid Emulation, SCADA & Grid
Interfaces, FLS, HVAC, Security, Meteo Stn)
Level 5
 100% Plant Availability (Ag) / Reliability Run, 3
Days
 Integrated Systems Test in Line w/ IPP Code
(e.g Voltage / Frequency / PF / Reactive Power
Thresholds Compliance Tests, etc.)
 PRg Test IEC 61724, Weather Corrected, 10
Days

Phase 8: O&M
 Prior to PCOD, SPV Shall be Fully Staffed & Operational.
 At Start of Level 4 Commissioning, Limited NTP is Issued for Turnkey O&M Contract.
 It Is Crucial to Integrate O&M Early On Prior to Project Commercial Operation Date (PCOD).
This Ensures Training & Familiarization of Systems During Commissioning & Testing Phase.
 Provisional Completion (PCOD) Triggers Full NTP for O&M Contract.
 O&M Contractor Prepares Comprehensive O&M Plan for the Approval of OE/IE/LTA. It Covers:
 It Is Common Practice that EPC Undertakes O&M During 2 Yrs Defect Liability Period (DLP).
Prior to DLP Expiry & EPC Final Completion, EPC’s O&M Contract can be Negotiated &
Extended for Another Term (3-5 Yrs, renewable), or Competitively Tendered.
 If New O&M is Awarded, Then Extreme Due Diligence Shall be Executed to Ensure Smooth &
Well Planned Technical & Contractual Handover Between Parties.
 At Plant End of Life (20/25 yrs), SPV Decommissions the Plant (N.B. recycling) & Restores the
Site, as per its Obligation Under PPA and Land Lease Agreement. Then, SPV Liquidates as per
its SHA.
23
 Org Chart
 Roles & Responsibilities & Interfaces
 O&M Concept & Operations Approach
 Working Hours & Shifts Approach
 Preventive Maintenance
 Corrective Maintenance
 Maint. Tasks Freq. & Response Times
 Spare Parts & Consumables Mgmt
 Tools & Machinery Approach
 Warranties & Claims Mgmt
 PV Cleaning Method Statement
 Performance Monitoring, Analysis, &
Optimization
 Performance Guarantees & Tests
 Communications & Reporting
 Site Specific EHS Plan
 QA/QC Approach
 Processes & Procedures
 Procurement/Subcons/SLAs Approach
 Regulatory Compliance
 Training

Contact24
Contact:
Fadi Maalouf
www.linkedin.com/in/fadimaalouf
www.slideshare.net/solaruae
www.twitter.com/solaruae

IPP Utility Scale Solar PV Project Development Roadmap

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