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["Timing",null,null,null,null,null,null,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39]
[null,"Date",null,null,"Equity IRR",{"$f":"E205","v":0.26389326814820357},null,null,null,{"$f":"F8","v":"2019-01-01"},{"$f":"EDATE(J2,12)","v":"2020-01-01"},{"$f":"EDATE(K2,12)","v":"2021-01-01"},"2022-01-01","2023-01-01","2024-01-01","2025-01-01","2026-01-01","2027-01-01","2028-01-01","2029-01-01","2030-01-01","2031-01-01","2032-01-01","2033-01-01","2034-01-01","2035-01-01","2036-01-01","2037-01-01","2038-01-01","2039-01-01","2040-01-01","2041-01-01","2042-01-01","2043-01-01",{"$f":"EDATE(AH2,12)","v":"2044-01-01"},{"$f":"EDATE(AI2,12)","v":"2045-01-01"},{"$f":"EDATE(AJ2,12)","v":"2046-01-01"},{"$f":"EDATE(AK2,12)","v":"2047-01-01"},{"$f":"EDATE(AL2,12)","v":"2048-01-01"},{"$f":"EDATE(AM2,12)","v":"2049-01-01"},{"$f":"EDATE(AN2,12)","v":"2050-01-01"},{"$f":"EDATE(AO2,12)","v":"2051-01-01"},{"$f":"EDATE(AP2,12)","v":"2052-01-01"},{"$f":"EDATE(AQ2,12)","v":"2053-01-01"},{"$f":"EDATE(AR2,12)","v":"2054-01-01"},{"$f":"EDATE(AS2,12)","v":"2055-01-01"},{"$f":"EDATE(AT2,12)","v":"2056-01-01"},{"$f":"EDATE(AU2,12)","v":"2057-01-01"}]
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[]
["Assumptions"]
[null,"Timing"]
[null,null,"FC",null,"Date","2019-01-01"]
[null,null,"Construction",null,"Years",3]
[null,null,"COD",null,"Date",{"$f":"EDATE(F8,F9*12)","v":"2022-01-01"}]
[null,null,"Operations",null,"Years",20]
[null,null,"Decommissioning",null,"Date",{"$f":"EDATE(F10,F11*12)","v":"2042-01-01"}]
[]
[null,"Operating",null,null,null,null,0,1,5,12]
[null,null,"EBITDA P50",null,"Euro",true,null,100,125,80]
[null,null,"EBITDA P99",null,"Euro",{"$f":"NOT(F15)","v":false},null,70,80,65]
[null,null,"Applied",null,null,null,null,{"$f":"H15*$F15+H16*$F16","v":100},{"$f":"I15*$F15+I16*$F16","v":125},{"$f":"J15*$F15+J16*$F16","v":80}]
[]
[null,null,"Capital Expenditure",null,"Euro",725]
[]
[null,null,"Tax Rate",null,"Percent",0.21]
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[null,"Financing"]
[null,null,"DSCR - P50",null,"Times",1.7]
[null,null,"DSCR - P99",null,"Times",1]
[null,null,"DSCR Applied",null,null,{"$f":"SUMPRODUCT(F15:F16*F24:F25)","v":1.7}]
[]
[null,null,"Up-Front Equity",null,"Percent",0.72]
[]
[null,null,"Tenor",null,"Years",12]
[null,null,"Repayment Date",null,"Date",{"$f":"EDATE(F10,F30*12)","v":"2034-01-01"}]
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[null,null,null,null,null,1,4,7,11]
[null,null,"Interest Rate",null,"%.p.a",3.5000000000000003E-2,0.04,4.2000000000000003E-2,4.3999999999999997E-2]
[null,null,"Up Front Fee",null,"%",1.4999999999999999E-2]
[null,null,"Commitment Fee",null,"%.p.a.",1.2500000000000001E-2]
[]
[null,null,"Capitalise Interest and Fees",null,"Switch",true]
[]
[null,null,"DSRA Percent or Periods",null,"Percent",3]
[null,null,"DSRA Periods Switch",null,"Switch",{"$f":"F40>=1","v":true}]
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["Operations"]
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[null,"EBITDA ",null,null,null,null,null,null,null,{"$f":"interpolate_look_up(J44,14:14,17:17)*J4","v":0},{"$f":"interpolate_look_up(K44,14:14,17:17)*K4","v":0},0,100,105.73712634405641,111.80339887498948,118.21770112539699,125,117.27931963588537,110.03551051404936,103.23911847100017,96.86250859269974,90.879752847815411,85.266524661353671,80,80,80,80,80,80,80,80,80,0,0,{"$f":"interpolate_look_up(AI44,14:14,17:17)*AI4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Capital Expenditures",null,null,null,null,{"$f":"F9","v":3},{"$f":"F19","v":725},null,{"$f":"$H$47/$G$47*J3","v":241.66666666666666},241.66666666666666,241.66666666666666,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$H$47/$G$47*AI3","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Pre-tax Project IRR",null,null,null,{"$f":"IRR(J49:AH49)","v":0.11000184113493217},null,null,null,{"$f":"J45-J47","v":-241.66666666666666},{"$f":"K45-K47","v":-241.66666666666666},-241.66666666666666,100,105.73712634405641,111.80339887498948,118.21770112539699,125,117.27931963588537,110.03551051404936,103.23911847100017,96.86250859269974,90.879752847815411,85.266524661353671,80,80,80,80,80,80,80,80,80,0,0,{"$f":"AI45-AI47","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,"Accumulated Plant",null,null,null,null,null,null,null,{"$f":"I51+J47","v":241.66666666666666},{"$f":"J51+K47","v":483.33333333333331},725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,{"$f":"AH51+AI47","v":725},{"$f":"AI51+AJ47","v":725},{"$f":"AJ51+AK47","v":725},{"$f":"AK51+AL47","v":725},{"$f":"AL51+AM47","v":725},{"$f":"AM51+AN47","v":725},{"$f":"AN51+AO47","v":725},{"$f":"AO51+AP47","v":725},{"$f":"AP51+AQ47","v":725},{"$f":"AQ51+AR47","v":725},{"$f":"AR51+AS47","v":725},{"$f":"AS51+AT47","v":725},{"$f":"AT51+AU47","v":725},{"$f":"AU51+AV47","v":725}]
[null,"Accumulated Depreciation",null,null,null,null,null,null,null,{"$f":"I52+J54","v":0},{"$f":"J52+K54","v":0},0,36.25,72.5,108.75,145,181.25,217.5,253.75,290,326.25,362.5,398.75,435,471.25,507.5,543.75,580,616.25,652.5,688.75,725,725,725,{"$f":"AH52+AI54","v":725},{"$f":"AI52+AJ54","v":725},{"$f":"AJ52+AK54","v":725},{"$f":"AK52+AL54","v":725},{"$f":"AL52+AM54","v":725},{"$f":"AM52+AN54","v":725},{"$f":"AN52+AO54","v":725},{"$f":"AO52+AP54","v":725},{"$f":"AP52+AQ54","v":725},{"$f":"AQ52+AR54","v":725},{"$f":"AR52+AS54","v":725},{"$f":"AS52+AT54","v":725},{"$f":"AT52+AU54","v":725},{"$f":"AU52+AV54","v":725}]
[null,"Net Plant",null,null,null,null,null,null,null,{"$f":"J51-J52","v":241.66666666666666},{"$f":"K51-K52","v":483.33333333333331},725,688.75,652.5,616.25,580,543.75,507.5,471.25,435,398.75,362.5,326.25,290,253.75,217.5,181.25,145,108.75,72.5,36.25,0,0,0,{"$f":"AI51-AI52","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Depreciation",null,null,null,null,{"$f":"F11","v":20},null,null,{"$f":"J51/$G$54*J4","v":0},{"$f":"K51/$G$54*K4","v":0},0,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,0,0,{"$f":"AI51/$G$54*AI4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
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[null,"Taxes on EBIT",null,null,null,null,{"$f":"F21","v":0.21},null,null,{"$f":"J56*$G$57","v":0},{"$f":"K56*$G$57","v":0},0,13.387499999999999,14.592296532251845,15.86621376374779,17.213217236333367,18.637499999999999,17.016157123535926,15.494957207950366,14.067714878910035,12.728626804466945,11.472248098041236,10.29347017888427,9.1875,9.1875,9.1875,9.1875,9.1875,9.1875,9.1875,9.1875,9.1875,0,0,{"$f":"AI56*$G$57","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
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[]
["Sources and Uses"]
[null,"Uses"]
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[null,null,"IDC",null,null,null,null,null,null,{"$f":"SUM(J93:AH93)","v":0},14,{"$f":"K63-J63","v":14}]
[null,null,"Up-front Fee",null,null,null,null,null,null,{"$f":"SUM(J131:AV131)","v":0}]
[null,null,"Commitment Fee",null,null,null,null,null,null,{"$f":"SUM(J133:AV133)","v":0}]
[null,null,"DSRA",null,null,null,null,null,{"$f":"SUM(J96:AH96)","v":0}]
[null,null,null,"Total",null,null,null,null,{"$f":"SUM(I62:I66)","v":725}]
[]
[null,"Sources"]
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[null,null,"Equity",null,null,null,null,null,{"$f":"I67-I70","v":150.74734977166213}]
[null,null,null,"Total",null,null,null,null,{"$f":"SUM(I70:I71)","v":725}]
[]
[null,null,"Less Interest and Fees Capitalised During Construction"]
[null,null,"Cash Funding "]
[]
[null,null,"Equity Up-front",null,null,null,{"$f":"F28","v":0.72},null,{"$f":"G77*I71","v":108.53809183559673}]
[null,null,"Remaining Equity Pro-Rata",null,null,null,null,null,{"$f":"I71-I77","v":42.209257936065399}]
[null,null,"Total Left Over for Pro-Rata"]
[null,null,"Equity as Percent of Left Over Pro-Rata",null,null,null,null,null,{"$f":"IFERROR(I78/I79,0)","v":0}]
[null,null,"Debt as Percent of Left Over Pro-Rata",null,null,null,null,null,{"$f":"IF(I79,(I70-I74)/I79)","v":false}]
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["Sculpting"]
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[null,null,"Target DSCR",null,null,null,{"$f":"F26","v":1.7},null,null,{"$f":"$G$86","v":1.7},{"$f":"$G$86","v":1.7},1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7,1.7]
[null,null,"Total Debt Service",null,null,null,null,null,null,{"$f":"J85/J86","v":0},{"$f":"K85/K86","v":0},0,58.82352941176471,62.19830961415083,65.766705220582054,69.539824191409991,73.529411764705884,68.98783507993258,64.726770890617274,60.728893218235392,56.977946230999848,53.458678145773774,50.156779212560984,47.058823529411768,0,0,0,0,0,0,0,0,0,0,{"$f":"AI85/AI86","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest Rate",null,null,null,null,null,null,{"$f":"LOOKUP(J1,33:33,34:34)","v":3.5000000000000003E-2},{"$f":"LOOKUP(K1,33:33,34:34)","v":3.5000000000000003E-2},3.5000000000000003E-2,0.04,0.04,0.04,4.2000000000000003E-2,4.2000000000000003E-2,4.2000000000000003E-2,4.2000000000000003E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,{"$f":"LOOKUP(AI1,33:33,34:34)","v":4.3999999999999997E-2},4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2]
[null,null,"Interest Rate Index",null,null,null,null,null,1,{"$f":"I89*(1+J88*J4)","v":1},{"$f":"J89*(1+K88*K4)","v":1},1,1.04,1.0816000000000001,1.1248640000000001,1.1721082880000002,1.2213368360960002,1.2726329832120322,1.3260835685069376,1.3844312455212429,1.4453462203241776,1.5089414540184414,1.575334877995253,1.6446496126270442,1.7170141955826344,1.7925628201882704,1.8714355842765544,1.953778749984723,2.0397450149840508,2.1294937956433491,2.2231915226516565,2.3210119496483297,2.3210119496483297,2.3210119496483297,{"$f":"AH89*(1+AI88*AI4)","v":2.3210119496483297},{"$f":"AI89*(1+AJ88*AJ4)","v":2.3210119496483297},{"$f":"AJ89*(1+AK88*AK4)","v":2.3210119496483297},{"$f":"AK89*(1+AL88*AL4)","v":2.3210119496483297},{"$f":"AL89*(1+AM88*AM4)","v":2.3210119496483297},{"$f":"AM89*(1+AN88*AN4)","v":2.3210119496483297},{"$f":"AN89*(1+AO88*AO4)","v":2.3210119496483297},{"$f":"AO89*(1+AP88*AP4)","v":2.3210119496483297},{"$f":"AP89*(1+AQ88*AQ4)","v":2.3210119496483297},{"$f":"AQ89*(1+AR88*AR4)","v":2.3210119496483297},{"$f":"AR89*(1+AS88*AS4)","v":2.3210119496483297},{"$f":"AS89*(1+AT88*AT4)","v":2.3210119496483297},{"$f":"AT89*(1+AU88*AU4)","v":2.3210119496483297},{"$f":"AU89*(1+AV88*AV4)","v":2.3210119496483297}]
[null,null,"PV of Debt Service",null,{"$f":"SUMPRODUCT(J87:AH87/J89:AH89)","v":574.25265022833787}]
["Funding"]
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[null,null,"IDC",null,null,null,null,null,null,{"$f":"J129","v":0},{"$f":"K129","v":0},{"$f":"L129","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI129","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Up-front Fee"]
[null,null,"Commitment Fee"]
[null,null,"DSRA"]
[null,null,"Less: Capitalised Interest"]
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[]
[null,null,"Equity Up-Front",null,null,null,{"$f":"G77","v":0.72},{"$f":"I71","v":150.74734977166213},null,{"$f":"$H$100*$G$100","v":108.53809183559673},{"$f":"$H$100*$G$100","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673]
[null,null,"Less: Opening Balance",null,null,null,null,null,null,{"$f":"J104","v":0},{"$f":"K104","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,{"$f":"AI104","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673]
[null,null,"Remaining Equity Funding",null,null,null,null,null,null,{"$f":"J100-J101","v":108.53809183559673},{"$f":"K100-K101","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI100-AI101","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Opening Balance",null,null,null,null,null,null,{"$f":"I106","v":0},{"$f":"J106","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,{"$f":"AH106","v":108.53809183559673},{"$f":"AI106","v":108.53809183559673},{"$f":"AJ106","v":108.53809183559673},{"$f":"AK106","v":108.53809183559673},{"$f":"AL106","v":108.53809183559673},{"$f":"AM106","v":108.53809183559673},{"$f":"AN106","v":108.53809183559673},{"$f":"AO106","v":108.53809183559673},{"$f":"AP106","v":108.53809183559673},{"$f":"AQ106","v":108.53809183559673},{"$f":"AR106","v":108.53809183559673},{"$f":"AS106","v":108.53809183559673},{"$f":"AT106","v":108.53809183559673},{"$f":"AU106","v":108.53809183559673}]
[null,null,"Add: Equity Funding",null,null,null,null,null,null,{"$f":"MIN(J102,J98)","v":108.53809183559673},{"$f":"MIN(K102,K98)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"MIN(AI102,AI98)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,null,{"$f":"J104+J105","v":108.53809183559673},{"$f":"K104+K105","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,{"$f":"AI104+AI105","v":108.53809183559673},108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673,108.53809183559673]
[]
[null,null,"Left-Over for Pro-Rata",null,null,null,null,null,null,{"$f":"J98-J105","v":133.12857483106993},{"$f":"K98-K105","v":241.66666666666666},241.66666666666666,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI98-AI105","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Pro-Rata Equity ",null,null,null,null,{"$f":"I80","v":0},null,{"$f":"$H$110*J108","v":0},{"$f":"$H$110*K108","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$H$110*AI108","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Pro-Rata Debt ",null,null,null,null,{"$f":"I81","v":false},null,{"$f":"J108*$H$111","v":0},{"$f":"K108*$H$111","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI108*$H$111","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Period by Period Sources"]
[null,null,"Debt Funding",null,null,null,null,null,null,{"$f":"J111","v":0},{"$f":"K111","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI111","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Equity Funding",null,null,null,null,null,null,{"$f":"J110+J105","v":108.53809183559673},{"$f":"K110+K105","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI110+AI105","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total Funding",null,null,null,null,null,{"$f":"SUM(J114:J115)","v":108.53809183559673},{"$f":"SUM(K114:K115)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(AI114:AI115)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
["Debt Balance"]
[null,null,"Opening Balance",null,null,null,null,null,null,{"$f":"I124","v":0},0,0,0,-58.82352941176471,-123.37478020238613,-194.07647663106363,-271.76751284097827,-356.71116014500524,-440.68086395102807,-523.9162311275885,-607.69743851543785,-691.41407204111692,-775.29496935669988,-859.56472722095566,-944.4443987480895,-985.99995229300544,-1029.3839501938976,-1074.6768440024291,-1121.9626251385359,-1171.3289806446314,-1222.8674557929953,-1276.673623847887,-1332.8472632971941,-1332.8472632971941,{"$f":"AH124","v":-1332.8472632971941},{"$f":"AI124","v":-1332.8472632971941},{"$f":"AJ124","v":-1332.8472632971941},{"$f":"AK124","v":-1332.8472632971941},{"$f":"AL124","v":-1332.8472632971941},{"$f":"AM124","v":-1332.8472632971941},{"$f":"AN124","v":-1332.8472632971941},{"$f":"AO124","v":-1332.8472632971941},{"$f":"AP124","v":-1332.8472632971941},{"$f":"AQ124","v":-1332.8472632971941},{"$f":"AR124","v":-1332.8472632971941},{"$f":"AS124","v":-1332.8472632971941},{"$f":"AT124","v":-1332.8472632971941},{"$f":"AU124","v":-1332.8472632971941}]
[null,null,"Add: Cash Funding",null,null,null,null,null,null,{"$f":"J114","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI114","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Interest Capitalised",null,null,null,null,{"$f":"F38","v":true}]
[null,null,"Less: Repayment",null,null,null,null,null,null,{"$f":"J87-J128","v":0},0,0,58.82352941176471,64.551250790621424,70.701696428677494,77.691036209914671,84.943647304026968,83.969703806022807,83.235367176560459,83.781207387849292,83.716633525679114,83.880897315582914,84.26975786425578,84.879671527133809,41.555553544915938,43.38399790089224,45.292893808531488,47.285781136106877,49.36635550609558,51.53847514836378,53.806168054891792,56.173639449307025,0,0,{"$f":"AI87-AI128","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,null,{"$f":"J120+J121-J123","v":0},{"$f":"K120+K121-K123","v":0},0,-58.82352941176471,-123.37478020238613,-194.07647663106363,-271.76751284097827,-356.71116014500524,-440.68086395102807,-523.9162311275885,-607.69743851543785,-691.41407204111692,-775.29496935669988,-859.56472722095566,-944.4443987480895,-985.99995229300544,-1029.3839501938976,-1074.6768440024291,-1121.9626251385359,-1171.3289806446314,-1222.8674557929953,-1276.673623847887,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,{"$f":"AI120+AI121-AI123","v":-1332.8472632971941},-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941]
[null,null,"Interest Rate",null,null,null,null,null,null,{"$f":"J88","v":3.5000000000000003E-2},3.5000000000000003E-2,3.5000000000000003E-2,0.04,0.04,0.04,4.2000000000000003E-2,4.2000000000000003E-2,4.2000000000000003E-2,4.2000000000000003E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,{"$f":"AI88","v":4.3999999999999997E-2},4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2,4.3999999999999997E-2]
[]
[null,null,"Interest Cost",null,null,null,null,null,null,{"$f":"J125*J120","v":0},0,0,0,-2.3529411764705883,-4.9349912080954459,-8.1512120185046726,-11.414235539321089,-14.981868726090221,-18.508596285943181,-23.052314169613894,-26.738687294679263,-30.422219169809143,-34.112978651694796,-37.820847997722048,-41.555553544915938,-43.38399790089224,-45.292893808531488,-47.285781136106877,-49.36635550609558,-51.53847514836378,-53.806168054891792,-56.173639449307025,-58.645279585076537,-58.645279585076537,{"$f":"AI125*AI120","v":-58.645279585076537},-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537,-58.645279585076537]
[null,null,"Interest Expense",null,null,null,null,null,null,{"$f":"J127*J4","v":0},0,0,0,-2.3529411764705883,-4.9349912080954459,-8.1512120185046726,-11.414235539321089,-14.981868726090221,-18.508596285943181,-23.052314169613894,-26.738687294679263,-30.422219169809143,-34.112978651694796,-37.820847997722048,-41.555553544915938,-43.38399790089224,-45.292893808531488,-47.285781136106877,-49.36635550609558,-51.53847514836378,-53.806168054891792,-56.173639449307025,0,0,{"$f":"AI127*AI4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest During Construction",null,null,null,null,null,null,{"$f":"J127*J3","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI127*AI3","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Up-front Fee",null,null,{"$f":"F8","v":"2019-01-01"},{"$f":"F35","v":1.4999999999999999E-2},{"$f":"I70","v":574.25265022833787}]
[null,null,"Periodic Commitment Fee Percent",null,null,null,null,{"$f":"F36","v":1.2500000000000001E-2}]
[null,null,"Commitment Fee",null,null,null,null,{"$f":"H131","v":574.25265022833787}]
[]
[]
["DSRA"]
[null,"Debt Service",null,null,null,null,null,null,null,{"$f":"J128+J123","v":0},0,0,58.82352941176471,62.198309614150837,65.766705220582054,69.539824191409991,73.529411764705884,68.98783507993258,64.726770890617274,60.728893218235399,56.977946230999848,53.458678145773774,50.156779212560984,47.058823529411761,0,0,0,0,0,0,0,0,0,0,{"$f":"AI128+AI123","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Required DSRA",null,null,null,null,{"$f":"F40","v":3},{"$f":"F38","v":true}]
[null,"Less: Opening DSRA Balance",null,null,null,null,null,null,null,{"$f":"J144","v":0},{"$f":"K144","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI144","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Net Funding Required",null,null,null,null,null,null,null,{"$f":"J138-J139","v":0},{"$f":"K138-K139","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI138-AI139","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,"Period Prior to COD",null,null,null,null,null,{"$f":"EDATE(F10,-12)","v":"2021-01-01"},null,{"$f":"J2=$H$143","v":false},{"$f":"K2=$H$143","v":false},true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,"Opening Balance",null,null,null,null,null,null,null,{"$f":"I147","v":0},{"$f":"J147","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AH147","v":0},{"$f":"AI147","v":0},{"$f":"AJ147","v":0},{"$f":"AK147","v":0},{"$f":"AL147","v":0},{"$f":"AM147","v":0},{"$f":"AN147","v":0},{"$f":"AO147","v":0},{"$f":"AP147","v":0},{"$f":"AQ147","v":0},{"$f":"AR147","v":0},{"$f":"AS147","v":0},{"$f":"AT147","v":0},{"$f":"AU147","v":0}]
[null,"Add: DSRA Funded During Construction",null,null,null,null,null,null,null,{"$f":"J140*J143","v":0},{"$f":"K140*K143","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Less: DSRA Changes During Operation",null,null,null,null,null,null,null,{"$f":"J140*J4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI140*AI4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Closing Balance",null,null,null,null,null,null,null,{"$f":"J144+J145+J146","v":0},{"$f":"K144+K145+K146","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI144+AI145+AI146","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Profit and Loss"]
[null,null,"IDC Balance",null,null,null,null,null,null,{"$f":"I150+J129","v":0},{"$f":"J150+K129","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AH150+AI129","v":0},{"$f":"AI150+AJ129","v":0},{"$f":"AJ150+AK129","v":0},{"$f":"AK150+AL129","v":0},{"$f":"AL150+AM129","v":0},{"$f":"AM150+AN129","v":0},{"$f":"AN150+AO129","v":0},{"$f":"AO150+AP129","v":0},{"$f":"AP150+AQ129","v":0},{"$f":"AQ150+AR129","v":0},{"$f":"AR150+AS129","v":0},{"$f":"AS150+AT129","v":0},{"$f":"AT150+AU129","v":0},{"$f":"AU150+AV129","v":0}]
[null,null,"Depreciation Rate",null,null,null,null,null,null,{"$f":"J54/J51","v":0},0,0,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0,0,{"$f":"AI54/AI51","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Depreciation on IDC",null,null,null,null,null,null,{"$f":"J150*J151","v":0},{"$f":"K150*K151","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI150*AI151","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Accumulated IDC Depreciation",null,null,null,null,null,null,{"$f":"I153+J152","v":0},{"$f":"J153+K152","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AH153+AI152","v":0},{"$f":"AI153+AJ152","v":0},{"$f":"AJ153+AK152","v":0},{"$f":"AK153+AL152","v":0},{"$f":"AL153+AM152","v":0},{"$f":"AM153+AN152","v":0},{"$f":"AN153+AO152","v":0},{"$f":"AO153+AP152","v":0},{"$f":"AP153+AQ152","v":0},{"$f":"AQ153+AR152","v":0},{"$f":"AR153+AS152","v":0},{"$f":"AS153+AT152","v":0},{"$f":"AT153+AU152","v":0},{"$f":"AU153+AV152","v":0}]
[null,null,"Net IDC Balance",null,null,null,null,null,null,{"$f":"J150-J153","v":0},{"$f":"K150-K153","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI150-AI153","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"EBITDA",null,null,null,null,null,null,{"$f":"J45","v":0},0,0,100,105.73712634405641,111.80339887498948,118.21770112539699,125,117.27931963588537,110.03551051404936,103.23911847100017,96.86250859269974,90.879752847815411,85.266524661353671,80,80,80,80,80,80,80,80,80,0,0,{"$f":"AI45","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Depreciation",null,null,null,null,null,null,{"$f":"J152+J54","v":0},0,0,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,36.25,0,0,{"$f":"AI152+AI54","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Less: Interest Expense",null,null,null,null,null,null,{"$f":"J128","v":0},{"$f":"K128","v":0},0,0,-2.3529411764705883,-4.9349912080954459,-8.1512120185046726,-11.414235539321089,-14.981868726090221,-18.508596285943181,-23.052314169613894,-26.738687294679263,-30.422219169809143,-34.112978651694796,-37.820847997722048,-41.555553544915938,-43.38399790089224,-45.292893808531488,-47.285781136106877,-49.36635550609558,-51.53847514836378,-53.806168054891792,-56.173639449307025,0,0,{"$f":"AI128","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"EBT",null,null,null,null,null,null,{"$f":"J158-J159","v":0},{"$f":"K158-K159","v":0},0,63.75,71.840067520527001,80.488390083084923,90.118913143901665,100.16423553932108,96.011188361975599,92.294106799992548,90.041432640614062,87.351195887379006,85.05197201762455,83.129503313048474,81.570847997722041,85.305553544915938,87.13399790089224,89.042893808531488,91.035781136106877,93.116355506095573,95.288475148363773,97.556168054891799,99.923639449307018,0,0,{"$f":"AI158-AI159","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Opening NOL",null,null,null,null,null,null,{"$f":"I164","v":0},{"$f":"J164","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AH164","v":0},{"$f":"AI164","v":0},{"$f":"AJ164","v":0},{"$f":"AK164","v":0},{"$f":"AL164","v":0},{"$f":"AM164","v":0},{"$f":"AN164","v":0},{"$f":"AO164","v":0},{"$f":"AP164","v":0},{"$f":"AQ164","v":0},{"$f":"AR164","v":0},{"$f":"AS164","v":0},{"$f":"AT164","v":0},{"$f":"AU164","v":0}]
[null,null,"Add: Accrued Tax Loss",null,null,null,null,null,null,{"$f":"MAX(-J160,0)","v":0},{"$f":"MAX(-K160,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"MAX(-AI160,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: NOL Used",null,null,null,null,null,null,{"$f":"MIN(J161,MAX(J160,0))","v":0},{"$f":"MIN(K161,MAX(K160,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"MIN(AI161,MAX(AI160,0))","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing NOL",null,null,null,null,null,null,{"$f":"J161+J162-J163","v":0},{"$f":"K161+K162-K163","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI161+AI162-AI163","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"EBT after NOL",null,null,null,null,null,null,{"$f":"J160+J162-J163","v":0},{"$f":"K160+K162-K163","v":0},0,63.75,71.840067520527001,80.488390083084923,90.118913143901665,100.16423553932108,96.011188361975599,92.294106799992548,90.041432640614062,87.351195887379006,85.05197201762455,83.129503313048474,81.570847997722041,85.305553544915938,87.13399790089224,89.042893808531488,91.035781136106877,93.116355506095573,95.288475148363773,97.556168054891799,99.923639449307018,0,0,{"$f":"AI160+AI162-AI163","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Taxes",null,null,null,null,{"$f":"F21","v":0.21},null,{"$f":"$H$166*J165","v":0},{"$f":"$H$166*K165","v":0},0,13.387499999999999,15.086414179310669,16.902561917447834,18.92497176021935,21.034489463257426,20.162349556014874,19.381762427998435,18.908700854528952,18.343751136349592,17.860914123701153,17.457195695740179,17.129878079521628,17.914166244432348,18.298139559187369,18.699007699791611,19.117514038582442,19.554434656280069,20.010579781156391,20.486795291527276,20.983964284354474,0,0,{"$f":"$H$166*AI165","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Net Income",null,null,null,null,null,null,{"$f":"J165-J166","v":0},{"$f":"K165-K166","v":0},0,50.362499999999997,56.753653341216335,63.585828165637089,71.193941383682315,79.129746076063654,75.848838805960725,72.912344371994109,71.132731786085117,69.007444751029411,67.1910578939234,65.672307617308292,64.440969918200409,67.391387300483586,68.835858341704864,70.343886108739881,71.918267097524435,73.561920849815507,75.277895367207378,77.069372763364527,78.939675164952547,0,0,{"$f":"AI165-AI166","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Cash Flow Waterfall"]
[null,null,"EBITDA",null,null,null,null,null,null,{"$f":"J156","v":0},{"$f":"K156","v":0},0,100,105.73712634405641,111.80339887498948,118.21770112539699,125,117.27931963588537,110.03551051404936,103.23911847100017,96.86250859269974,90.879752847815411,85.266524661353671,80,80,80,80,80,80,80,80,80,0,0,{"$f":"AI156","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Taxes",null,null,null,null,null,null,{"$f":"J166","v":0},{"$f":"K166","v":0},0,13.387499999999999,15.086414179310669,16.902561917447834,18.92497176021935,21.034489463257426,20.162349556014874,19.381762427998435,18.908700854528952,18.343751136349592,17.860914123701153,17.457195695740179,17.129878079521628,17.914166244432348,18.298139559187369,18.699007699791611,19.117514038582442,19.554434656280069,20.010579781156391,20.486795291527276,20.983964284354474,0,0,{"$f":"AI166","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"CFADS",null,null,null,null,null,null,{"$f":"J170","v":0},{"$f":"K170","v":0},0,100,105.73712634405641,111.80339887498948,118.21770112539699,125,117.27931963588537,110.03551051404936,103.23911847100017,96.86250859269974,90.879752847815411,85.266524661353671,80,80,80,80,80,80,80,80,80,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Interest Expense",null,null,null,null,null,null,{"$f":"J159","v":0},{"$f":"K159","v":0},0,0,-2.3529411764705883,-4.9349912080954459,-8.1512120185046726,-11.414235539321089,-14.981868726090221,-18.508596285943181,-23.052314169613894,-26.738687294679263,-30.422219169809143,-34.112978651694796,-37.820847997722048,-41.555553544915938,-43.38399790089224,-45.292893808531488,-47.285781136106877,-49.36635550609558,-51.53847514836378,-53.806168054891792,-56.173639449307025,0,0,{"$f":"AI159","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Repayment",null,null,null,null,null,null,{"$f":"J123","v":0},0,0,58.82352941176471,64.551250790621424,70.701696428677494,77.691036209914671,84.943647304026968,83.969703806022807,83.235367176560459,83.781207387849292,83.716633525679114,83.880897315582914,84.26975786425578,84.879671527133809,41.555553544915938,43.38399790089224,45.292893808531488,47.285781136106877,49.36635550609558,51.53847514836378,53.806168054891792,56.173639449307025,0,0,{"$f":"AI123","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Net Cash Flow",null,null,null,null,null,null,{"$f":"J172-J173-J174","v":0},{"$f":"K172-K173-K174","v":0},0,41.17647058823529,43.538816729905577,46.036693654407429,48.677876933986994,51.470588235294116,48.291484555952792,45.308739623432075,42.510225252764769,39.884562361699892,37.421074702041636,35.109745448792694,32.941176470588232,80,80,80,80,80,80,80,80,0,0,{"$f":"AI172-AI173-AI174","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Change in DSRA",null,null,null,null,null,null,{"$f":"J146","v":0},{"$f":"K146","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI146","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Cash Flow Sweep"]
[null,null,"Net Dividends",null,null,null,null,null,null,{"$f":"J175-J176-J177","v":0},{"$f":"K175-K176-K177","v":0},0,41.17647058823529,43.538816729905577,46.036693654407429,48.677876933986994,51.470588235294116,48.291484555952792,45.308739623432075,42.510225252764769,39.884562361699892,37.421074702041636,35.109745448792694,32.941176470588232,80,80,80,80,80,80,80,80,0,0,{"$f":"AI175-AI176-AI177","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Balance Sheet"]
[null,"Assets"]
[null,null,"DSRA",null,null,null,null,null,null,{"$f":"J147","v":0},{"$f":"K147","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI147","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Gross Plant",null,null,null,null,null,null,{"$f":"J51","v":241.66666666666666},483.33333333333331,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,725,{"$f":"AI51","v":725},725,725,725,725,725,725,725,725,725,725,725,725,725]
[null,null,"Less: Accumulated Depreciation",null,null,null,null,null,null,{"$f":"-J52","v":0},0,0,-36.25,-72.5,-108.75,-145,-181.25,-217.5,-253.75,-290,-326.25,-362.5,-398.75,-435,-471.25,-507.5,-543.75,-580,-616.25,-652.5,-688.75,-725,-725,-725,{"$f":"-AI52","v":-725},-725,-725,-725,-725,-725,-725,-725,-725,-725,-725,-725,-725,-725]
[null,null,"IDC Net Plant",null,null,null,null,null,null,{"$f":"J154","v":0},{"$f":"K154","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI154","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total Assets",null,null,null,null,null,{"$f":"SUM(J182:J185)","v":241.66666666666666},{"$f":"SUM(K182:K185)","v":483.33333333333331},725,688.75,652.5,616.25,580,543.75,507.5,471.25,435,398.75,362.5,326.25,290,253.75,217.5,181.25,145,108.75,72.5,36.25,0,0,0,{"$f":"SUM(AI182:AI185)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Equity Balance"]
[null,null,"Opening Balance",null,null,null,null,null,null,{"$f":"I193","v":0},{"$f":"J193","v":108.53809183559673},108.53809183559673,108.53809183559673,117.72412124736145,130.93895785867221,148.48809236990186,171.00415681959717,198.66331466036669,226.2206689103746,253.82427365893665,282.44678019225699,311.5696625815865,341.33964577346831,371.90220794198393,403.40200138959614,390.79338869007972,379.62924703178459,369.97313314052445,361.8914002380489,355.45332108786442,350.73121645507183,347.80058921843636,346.74026438338888,346.74026438338888,{"$f":"AH193","v":346.74026438338888},{"$f":"AI193","v":346.74026438338888},{"$f":"AJ193","v":346.74026438338888},{"$f":"AK193","v":346.74026438338888},{"$f":"AL193","v":346.74026438338888},{"$f":"AM193","v":346.74026438338888},{"$f":"AN193","v":346.74026438338888},{"$f":"AO193","v":346.74026438338888},{"$f":"AP193","v":346.74026438338888},{"$f":"AQ193","v":346.74026438338888},{"$f":"AR193","v":346.74026438338888},{"$f":"AS193","v":346.74026438338888},{"$f":"AT193","v":346.74026438338888},{"$f":"AU193","v":346.74026438338888}]
[null,null,"Add: Funding",null,null,null,null,null,null,{"$f":"J115","v":108.53809183559673},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AI115","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Net Income",null,null,null,null,null,null,{"$f":"J167","v":0},{"$f":"K167","v":0},0,50.362499999999997,56.753653341216335,63.585828165637089,71.193941383682315,79.129746076063654,75.848838805960725,72.912344371994109,71.132731786085117,69.007444751029411,67.1910578939234,65.672307617308292,64.440969918200409,67.391387300483586,68.835858341704864,70.343886108739881,71.918267097524435,73.561920849815507,75.277895367207378,77.069372763364527,78.939675164952547,0,0,{"$f":"AI167","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Dividends",null,null,null,null,null,null,{"$f":"-J178","v":0},{"$f":"-K178","v":0},0,-41.17647058823529,-43.538816729905577,-46.036693654407429,-48.677876933986994,-51.470588235294116,-48.291484555952792,-45.308739623432075,-42.510225252764769,-39.884562361699892,-37.421074702041636,-35.109745448792694,-32.941176470588232,-80,-80,-80,-80,-80,-80,-80,-80,0,0,{"$f":"-AI178","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,null,{"$f":"SUM(J189:J192)","v":108.53809183559673},{"$f":"SUM(K189:K192)","v":108.53809183559673},108.53809183559673,117.72412124736145,130.93895785867221,148.48809236990186,171.00415681959717,198.66331466036669,226.2206689103746,253.82427365893665,282.44678019225699,311.5696625815865,341.33964577346831,371.90220794198393,403.40200138959614,390.79338869007972,379.62924703178459,369.97313314052445,361.8914002380489,355.45332108786442,350.73121645507183,347.80058921843636,346.74026438338888,346.74026438338888,346.74026438338888,{"$f":"SUM(AI189:AI192)","v":346.74026438338888},346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888,346.74026438338888]
[null,null,"Debt Balance",null,null,null,null,null,null,{"$f":"J124","v":0},0,0,-58.82352941176471,-123.37478020238613,-194.07647663106363,-271.76751284097827,-356.71116014500524,-440.68086395102807,-523.9162311275885,-607.69743851543785,-691.41407204111692,-775.29496935669988,-859.56472722095566,-944.4443987480895,-985.99995229300544,-1029.3839501938976,-1074.6768440024291,-1121.9626251385359,-1171.3289806446314,-1222.8674557929953,-1276.673623847887,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,{"$f":"AI124","v":-1332.8472632971941},-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941,-1332.8472632971941]
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[]
[null,null,null,"Difference",null,null,null,null,null,{"$f":"J195-J186","v":-133.12857483106993},{"$f":"K195-K186","v":-374.79524149773658},-616.46190816440321,-629.84940816440326,-644.93582234371388,-661.83838426116176,-680.76335602138113,-701.79784548463851,-721.9601950406535,-741.3419574686518,-760.25065832318091,-778.59440945953043,-796.45532358323157,-813.91251927897179,-831.04239735849342,-848.95656360292571,-867.25470316211295,-885.95371086190471,-905.0712249004871,-924.625659556767,-944.63623933792348,-965.12303462945067,-986.10699891380523,-986.10699891380523,-986.10699891380523,{"$f":"AI195-AI186","v":-986.10699891380523},-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523,-986.10699891380523]
[]
["Outputs"]
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[null,null,"DSCR",null,null,null,null,null,null,{"$f":"IF(J201>0.1,J200/J201)","v":false},{"$f":"IF(K201>0.1,K200/K201)","v":false},false,1.7,1.6999999999999997,1.7,1.7,1.7,1.6999999999999997,1.7,1.6999999999999997,1.7,1.7,1.7,1.7000000000000002,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(AI201>0.1,AI200/AI201)","v":false},false,false,false,false,false,false,false,false,false,false,false,false,false]
[]
[null,"Equity Cash Flow",null,null,null,null,null,null,null,{"$f":"J178-J115","v":-108.53809183559673},0,0,41.17647058823529,43.538816729905577,46.036693654407429,48.677876933986994,51.470588235294116,48.291484555952792,45.308739623432075,42.510225252764769,39.884562361699892,37.421074702041636,35.109745448792694,32.941176470588232,80,80,80,80,80,80,80,80,0,0,{"$f":"AI178-AI115","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Equity IRR",null,null,{"$f":"IFERROR(IRR(204:204),0)","v":0.26389326814820357}]

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