RTR Project Financial Analysis
Project Assumptions:
Gross Unit Capacity (kw): 10,250
Net Unit Capacity (kw): 9,020
Gross Annual Production (kwh): 89,790,000
% Parasitic Load: 12%
Net Annual Production (kwh): 79,015,200
Heat Recovery Installed Equip Cost /(kw): $2,250
Installed Cost of Project: $23,062,500
Equipment Life (yrs): 20
Contract Life (yrs): 20
Renewable Energy Credits 0%
Net Installed Cost of Project: $23,062,500
Finance Assumptions
Bond Amount 100% $30,000,000
Net Proceeds 90% 27,000,000
Revenue/kwh: 0.11200
Cash reserve $(3,937,500)
Term of Debt (yrs): 20
Interest Rate: 7.00%
Site Utility Power Cost (kwh) $0.120
Fees/Expenses
Technology License Fee % 8%
Heat source royalties: 12%
Maintenance Assumptions
O&M per kwh: $0.0120
Ongoing Site Expenses: 2.0%
Financial Administration: 2.0%
Warranty: 2.0%
Cost of Living Adjustment (COLA) 3.0%
Annual up-time percentage: 90.0%
Year 1
Profit Analysis
Base Revenue @ Fixed Rate $1,991,183
Annual COLA Adjustment
Net Revenue Generated $1,991,183
Direct Expenses
Interest Expense 2,077,391
Principal payment 713,685
Heat Source Royalties 238,942
Equipment Amortization 288,281
Site Expenses 39,824
Total Direct Expenses 3,358,123
RTR Expenses
O&M - Professional Service Fees 1,077,480
Financial Administration 39,824
Technology License Fee 159,295
Warranty 39,824
RTR Expense Total: 1,316,422
Total Operating Costs 4,674,545
Profit (2,683,362)
Profit % -135%
Cash Flow
Collections 1,991,183
Cash used in operations
Principle & Interest Payments 2,791,076
Heat Source/Site Expenses 278,766
Operating Expenses 1,316,422
Total cash used 4,386,264
Net Cash Flow (2,395,081)
-120%
Cash Reserve 3,937,500
Net Cash Reserve 1,542,419
RTR Net Profit
RTR System O&M 20% profit 215,496
Financial Administration (20%) 7,965
Technology License Fee 159,295
Operating Profit (2,683,362)
Total RTR Profit (2,300,606)
Profit % -116%
Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Total
$5,973,549 $6,969,141 $7,964,732 $8,203,674 $8,449,784 $8,703,278 $8,964,376 $9,233,308 $9,510,307 $9,795,616 $10,089,484 $10,392,169 $10,703,934 $11,025,052 $11,355,804 $11,696,478 $12,047,372 $12,408,793 $12,781,057 $180,294,359
$238,942 $246,110 $253,494 $261,098 $268,931 $276,999 $285,309 $293,868 $302,685 $311,765 $321,118 $330,752 $340,674 $350,894 $361,421 $372,264 $383,432 $5,199,757
$5,973,549 $6,969,141 $8,203,674 $8,449,784 $8,703,278 $8,964,376 $9,233,308 $9,510,307 $9,795,616 $10,089,484 $10,392,169 $10,703,934 $11,025,052 $11,355,804 $11,696,478 $12,047,372 $12,408,793 $12,781,057 $13,164,489 $185,494,115
2,025,798 1,970,476 1,911,155 1,847,546 1,779,318 1,706,199 1,627,773 1,543,678 1,453,504 1,356,810 1,253,127 1,141,949 1,022,733 894,900 757,825 610,841 453,232 284,229 103,009 25,821,493
765,277 820,599 879,920 943,530 1,011,737 1,084,876 1,163,302 1,247,397 1,337,572 1,434,265 1,537,948 1,649,126 1,768,342 1,896,175 2,033,250 2,180,234 2,337,843 2,506,846 2,688,067 29,999,991
716,826 836,297 984,441 1,013,974 1,044,393 1,075,725 1,107,997 1,141,237 1,175,474 1,210,738 1,247,060 1,284,472 1,323,006 1,362,696 1,403,577 1,445,685 1,489,055 1,533,727 1,579,739 23,215,062
864,844 1,014,750 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 1,153,125 21,771,000
119,471 139,383 164,073 168,996 174,066 179,288 184,666 190,206 195,912 201,790 207,843 214,079 220,501 227,116 233,930 240,947 248,176 255,621 263,290 3,869,177
4,492,216 4,781,505 5,092,714 5,127,171 5,162,639 5,199,213 5,236,863 5,275,643 5,315,587 5,356,728 5,399,104 5,442,751 5,487,707 5,534,013 5,581,707 5,630,832 5,681,431 5,733,548 5,787,229 104,676,723
1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 1,077,480 21,549,600
119,471 139,383 159,295 164,073 168,996 174,066 179,288 184,666 190,206 195,912 201,790 207,843 214,079 220,501 227,116 233,930 240,947 248,176 255,621 3,765,182
477,884 557,531 656,294 675,983 696,262 717,150 738,665 760,825 783,649 807,159 831,374 856,315 882,004 908,464 935,718 963,790 992,703 1,022,485 1,053,159 15,476,708
119,471 139,383 164,073 168,996 174,066 179,288 184,666 190,206 195,912 201,790 207,843 214,079 220,501 227,116 233,930 240,947 248,176 255,621 263,290 3,869,177
1,794,306 1,913,777 2,057,142 2,086,532 2,116,803 2,147,983 2,180,098 2,213,177 2,247,248 2,282,341 2,318,487 2,355,717 2,394,064 2,433,561 2,474,244 2,516,147 2,559,307 2,603,762 2,649,550 44,660,667
6,286,521 6,695,282 7,149,856 7,213,703 7,279,442 7,347,196 7,416,961 7,488,820 7,562,835 7,639,069 7,717,590 7,798,468 7,881,771 7,967,574 8,055,951 8,146,979 8,240,738 8,337,310 8,436,779 149,337,389
(312,972) 273,859 1,053,818 1,236,082 1,423,836 1,617,180 1,816,346 2,021,487 2,232,781 2,450,416 2,674,579 2,905,466 3,143,281 3,388,230 3,640,527 3,900,393 4,168,055 4,443,747 4,727,709 36,156,726
-5% 4% 13% 15% 16% 18% 20% 21% 23% 24% 26% 27% 29% 30% 31% 32% 34% 35% 36% 19%
5,973,549 6,969,141 8,203,674 8,449,784 8,703,278 8,964,376 9,233,308 9,510,307 9,795,616 10,089,484 10,392,169 10,703,934 11,025,052 11,355,804 11,696,478 12,047,372 12,408,793 12,781,057 13,164,489 193,458,847
2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 2,791,076 55,821,520
836,297 975,680 1,148,514 1,182,970 1,218,459 1,255,013 1,292,663 1,331,443 1,371,386 1,412,528 1,454,904 1,498,551 1,543,507 1,589,813 1,637,507 1,686,632 1,737,231 1,789,348 1,843,028 27,084,239
1,794,306 1,913,777 2,057,142 2,086,532 2,116,803 2,147,983 2,180,098 2,213,177 2,247,248 2,282,341 2,318,487 2,355,717 2,394,064 2,433,561 2,474,244 2,516,147 2,559,307 2,603,762 2,649,550 44,660,667
5,421,679 5,680,533 5,996,732 6,060,578 6,126,338 6,194,072 6,263,837 6,335,696 6,409,710 6,485,945 6,564,466 6,645,344 6,728,647 6,814,450 6,902,827 6,993,855 7,087,614 7,184,186 7,283,654 127,566,425
551,870 1,288,608 2,206,942 2,389,207 2,576,940 2,770,304 2,969,470 3,174,611 3,385,906 3,603,540 3,827,703 4,058,590 4,296,405 4,541,354 4,793,651 5,053,517 5,321,179 5,596,871 5,880,834 65,892,422
9% 18% 27% 28% 30% 31% 32% 33% 35% 36% 37% 38% 39% 40% 41% 42% 43% 44% 45% 34%
1,542,419 2,094,289 3,382,897 5,589,839 7,979,045 10,555,985 13,326,289 16,295,759 19,470,370 22,856,276 26,459,816 30,287,519 34,346,109 38,642,514 43,183,868 47,977,519 53,031,036 58,352,215 63,949,087
2,094,289 3,382,897 5,589,839 7,979,045 10,555,985 13,326,289 16,295,759 19,470,370 22,856,276 26,459,816 30,287,519 34,346,109 38,642,514 43,183,868 47,977,519 53,031,036 58,352,215 63,949,087 69,829,921
215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 215,496 4,309,920
23,894 27,877 31,859 32,815 33,799 34,813 35,858 36,933 38,041 39,182 40,358 41,569 42,816 44,100 45,423 46,786 48,189 49,635 51,124 753,036
477,884 557,531 656,294 675,983 696,262 717,150 738,665 760,825 783,649 807,159 831,374 856,315 882,004 908,464 935,718 963,790 992,703 1,022,485 1,053,159 15,476,708
(312,972) 273,859 1,053,818 1,236,082 1,423,836 1,617,180 1,816,346 2,021,487 2,232,781 2,450,416 2,674,579 2,905,466 3,143,281 3,388,230 3,640,527 3,900,393 4,168,055 4,443,747 4,727,709 44,121,458
404,302 1,074,763 1,957,467 2,160,375 2,369,393 2,584,640 2,806,364 3,034,741 3,269,967 3,512,253 3,761,806 4,018,846 4,283,597 4,556,290 4,837,164 5,126,465 5,424,444 5,731,363 6,047,489 64,661,122
7% 15% 24% 26% 27% 29% 30% 32% 33% 35% 36% 38% 39% 40% 41% 43% 44% 45% 46% 35%
AI
