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{"sheet":"Strategy Questions","index":0,"n_rows":13,"n_cols":3,"rows_kept":13,"cut":false,"hidden":false,"merged":[]}
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[]
[null,null,"How does Tenor of Debt Affect the LCOE"]
[]
[null,null,"How much does the LCOE decrease with longer tenor and DSCR constraint"]
[]
[null,null,"How much does the LCOE decrease with longer tenor and Debt to Capital Constraint"]
[]
[null,null,"How does the discount rate on LCOE affect the strategy"]
[]
[null,null,"What is the danger with staged capacity payments"]
[]
[null,null,"What other questions should I ask about this "]

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[]
[null,"Compute the second capacity charge with goal seek"]
[]
[null,"Debt Service = Cap Chrg /DSCR"]
[]
[null,"Cap Chg = DS * DSCR"]
[]
[null,"DS = PMT(Debt, Tenor)"]
[]
[null,"PV(debt service) = Debt"]

{"sheet":"Model No-tax","index":2,"n_rows":63,"n_cols":31,"rows_kept":63,"cut":false,"hidden":false,"merged":[]}
[null,"Period",null,null,null,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25]
[]
["Assumptions"]
[null,"Operations"]
[null,null,"Year",null,null,0,1,16]
[null,null,"Capacity Payment",null,null,0,{"$f":"E18","v":51.491999533172141},75.673273707413543]
[null,null,null,null,null,null,null,null,null,null,"Equity IRR",{"$f":"E55","v":5.9999771437570182E-2},"NPV",{"$f":"F57","v":502.96463981949455},"Debt to Cap",{"$f":"E63","v":0.622876605670862},"DSCR",{"$f":"E22","v":1.23},"Tenor",{"$f":"H5","v":16}]
[null,null,"Capital Expenditure",null,800]
[]
[null,"Finance"]
[null,null,"Min DSCR Target",null,{"$f":"H11/100","v":1.23},null,null,123]
[null,null,"Max Debt to Capital Target",null,{"$f":"H12/100","v":0.75},null,null,75]
[]
[null,null,"Tenor",null,{"$f":"H5","v":16}]
[]
[null,null,"Interest Rate",null,{"$f":"H16/100","v":0.04},null,null,4]
[null,null,"Debt from Target Debt to Cap",null,{"$f":"E8*E12","v":600}]
[null,null,"Pmt from Debt, Tenor and Interest Rate",null,{"$f":"PMT(E16,E14,-E17)","v":51.491999533172141}]
[]
[null,"LCOE and IRR"]
[null,null,"LLCR From Debt/Cap",null,{"$f":"E39/(E8*E12)","v":0.99999999999999978}]
[null,null,"Target DSCR",null,{"$f":"MAX(E21,E11)","v":1.23}]
[null,null,"LCOE Discount Rate",null,0.1]
[null,null,null,null,null,"Actual","Diff"]
[null,null,"Target IRR",null,{"$f":"H25/100","v":0.06},{"$f":"L7","v":5.9999771437570182E-2},{"$f":"E25-F25","v":2.2856242981594832E-7},6]
[]
["Model - Operations"]
[null,"Capital Exenditures",null,null,null,{"$f":"-E8","v":-800}]
[null,"Capacity Payment with Lookup",null,null,null,{"$f":"LOOKUP(F1,5:5,6:6)","v":0},{"$f":"LOOKUP(G1,5:5,6:6)","v":51.491999533172141},51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543]
[]
[null,"Net Cash Flow",null,null,null,{"$f":"F29+F28","v":-800},{"$f":"G29+G28","v":51.491999533172141},51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543]
[null,"Project IRR",null,null,{"$f":"IRR(31:31)","v":5.1753005921520545E-2}]
[]
["Model - Finance"]
[null,"Debt Sizing",null,null,{"$f":"E14","v":16},null,{"$f":"G1<=$E$35","v":true},{"$f":"H1<=$E$35","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false,false,false,false,false]
[null,null,"First Year Cap Charge",null,{"$f":"G6","v":51.491999533172141},null,{"$f":"$E$36*G35","v":51.491999533172141},{"$f":"$E$36*H35","v":51.491999533172141},51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,0,0,0,0,0,0,0,0,0]
[null,null,"Target Debt Service from Cash Flow",null,{"$f":"E22","v":1.23},null,{"$f":"G29/$E$37*G35","v":41.863414254611499},{"$f":"H29/$E$37*H35","v":41.863414254611499},41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,61.522986753994751,0,0,0,0,0,0,0,0,0]
[null,null,"NPV of Debt Service",null,{"$f":"NPV(E16,G37:AE37)","v":498.30128453668959}]
[null,null,"NPV of CFADS",null,{"$f":"NPV(E16,G36:AE36)","v":599.99999999999989}]
[]
[null,null,"Project Cost",null,{"$f":"E8","v":800}]
[null,null,"Debt from Debt to Capital",null,{"$f":"E41*E12","v":600}]
[]
[]
[null,null,"Repayment Applied",null,{"$f":"PMT(E16,E35,0)","v":0}]
[]
[null,null,"Debt Issue"]
[null,null,null,"Opening Balance",null,null,{"$f":"F50","v":498.30128453668959},{"$f":"G50","v":476.36992166354565},453.561304275476,429.84034219188356,405.17054162494742,379.51394903533384,352.8310927421357,325.08092219720965,296.22074483048652,266.2061603690945,234.9909925292468,202.52721797580517,168.76489244022588,133.65207388322341,97.134742583940849,59.156718032686982,-2.9132252166164108E-13,-3.0297542252810672E-13,-3.1509443942923097E-13,-3.2769821700640019E-13,-3.4080614568665618E-13,-3.5443839151412241E-13,-3.6861592717468728E-13,-3.833605642616748E-13,-3.9869498683214177E-13]
[null,null,null,"Less: Repayment",null,null,{"$f":"G37-G51","v":21.931362873143915},{"$f":"H37-H51","v":22.808617388069671},23.720962083592458,24.669800566936157,25.656592589613602,26.682856293198142,27.750170544926071,28.860177366723114,30.014584461392037,31.215167839847716,32.463774553441624,33.762325535579294,35.112818557002463,36.51733129928256,37.978024551253867,59.156718032687273,1.1652900866465644E-14,1.2119016901124269E-14,1.2603777577169238E-14,1.3107928680256008E-14,1.3632245827466247E-14,1.4177535660564897E-14,1.474463708698749E-14,1.5334422570466993E-14,1.594779947328567E-14]
[null,null,null,"Closing Balance",null,{"$f":"E38","v":498.30128453668959},{"$f":"G48-G49","v":476.36992166354565},{"$f":"H48-H49","v":453.561304275476},429.84034219188356,405.17054162494742,379.51394903533384,352.8310927421357,325.08092219720965,296.22074483048652,266.2061603690945,234.9909925292468,202.52721797580517,168.76489244022588,133.65207388322341,97.134742583940849,59.156718032686982,-2.9132252166164108E-13,-3.0297542252810672E-13,-3.1509443942923097E-13,-3.2769821700640019E-13,-3.4080614568665618E-13,-3.5443839151412241E-13,-3.6861592717468728E-13,-3.833605642616748E-13,-3.9869498683214177E-13,-4.1464278630542743E-13]
[null,null,null,"Interest ",{"$f":"E16","v":0.04},null,{"$f":"$E$51*G48","v":19.932051381467584},{"$f":"$E$51*H48","v":19.054796866541828},18.142452171019041,17.193613687675342,16.206821664997896,15.180557961413355,14.113243709685428,13.003236887888386,11.848829793219462,10.648246414763781,9.3996397011698729,8.101088719032207,6.7505956976090351,5.3460829553289368,3.8853897033576339,2.3662687213074793,-1.1652900866465644E-14,-1.2119016901124269E-14,-1.2603777577169238E-14,-1.3107928680256008E-14,-1.3632245827466247E-14,-1.4177535660564897E-14,-1.474463708698749E-14,-1.5334422570466993E-14,-1.594779947328567E-14]
[]
["Equity IRR and LCOE"]
[null,"Equity IRR",null,null,null,{"$f":"F28+F50","v":-301.69871546331041},{"$f":"G31-G37","v":9.6285852785606423},{"$f":"H31-H37","v":9.6285852785606423},9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,9.6285852785606423,14.150286953418792,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543]
[null,"Equity IRR",null,null,{"$f":"IRR(54:54)","v":5.9999771437570182E-2}]
[]
[null,"NPV of Revenues",null,null,{"$f":"E23","v":0.1},{"$f":"NPV(E57,G31:AE31)","v":502.96463981949455}]
[]
[null,null,null,null,null,null,{"$f":"G1","v":1},{"$f":"H1","v":2},3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25]
[null,"Cash Flow",null,null,null,null,{"$f":"G31","v":51.491999533172141},{"$f":"H31","v":51.491999533172141},51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,51.491999533172141,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543,75.673273707413543]
[null,"Debt Service",null,null,null,null,{"$f":"G37","v":41.863414254611499},{"$f":"H37","v":41.863414254611499},41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,41.863414254611499,61.522986753994751,0,0,0,0,0,0,0,0,0]
[]
[null,"Debt to Cap",null,null,{"$f":"E38/E8","v":0.622876605670862}]

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[null,null,null,null,null,null,null,null,null,null,null,"Debt Tenor",{"$f":"'Model No-tax'!H5","v":16}]
[null,null,null,null,null,null,null,null,null,null,null,"DSCR",{"$f":"'Model No-tax'!$E$11","v":1.23}]
[null,null,null,null,null,null,null,null,null,null,null,"Debt to Cap",{"$f":"'Model No-tax'!$E$12","v":0.75}]
[null,null,null,null,null,null,null,null,null,null,null,"Equity IRR",{"$f":"'Model No-tax'!$E$25","v":0.06}]
[null,null,null,null,null,null,null,null,null,null,null,"Interest Rate",{"$f":"'Model No-tax'!$E$16","v":0.04}]
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[]
[null,null,null,null,null,null,null,null,null,null,null,"NPV of Cap Charge",{"$f":"'Model No-tax'!$F$57","v":502.96463981949455}]