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["Time Line/Dashboard",null,null,null,null,"Pre-tax","Project","Debt","Equity"]
[null,"Time Period (ALT S from Period 1)",null,null,"IRR",{"$f":"F75","v":0.11977531693465848},{"$f":"F92","v":0.10687648737361877},{"$f":"F135","v":3.499999999999992E-2},{"$f":"J199","v":0.20932156889419917},0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40]
[null,"Operating Period",null,null,null,{"$f":"F7","v":25},null,null,null,null,{"$f":"K2<=$F$3","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,"Year",null,null,{"$f":"'Operating Data'!D10","v":"Mono P90"},null,null,null,null,"2019-01-01",{"$f":"EDATE(J4,12)","v":"2020-01-01"},{"$f":"EDATE(K4,12)","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","2044-01-01","2045-01-01","2046-01-01","2047-01-01","2048-01-01","2049-01-01","2050-01-01","2051-01-01","2052-01-01","2053-01-01","2054-01-01","2055-01-01","2056-01-01","2057-01-01","2058-01-01","2059-01-01"]
["Assumptions"]
[null,"Operations"]
[null,null,"Life",null,"Year",{"$f":"'Operating Data'!E13","v":25}]
[]
[null,null,"Capacity",null,"MWp",{"$f":"'Operating Data'!K10","v":710}]
[null,null,"Yield",null,"kWh/kWp",{"$f":"'Operating Data'!M10/'Operating Data'!K10*1000","v":2009.6890093979932}]
[null,null,"Capacity Factor",null,"%",{"$f":"F10/(365*24)","v":0.22941655358424581}]
[null,null,"Degradation",null,"% p.a.",{"$f":"'Operating Data'!L10","v":4.0000000000000001E-3}]
[]
[null,"Inflation Rate",null,null,"% p.a.",{"$f":"'Operating Data'!E18","v":0.02}]
[]
[null,"Contracts"]
[null,null,"EPC Contract and Developemnt Cost",null,"USD 000's",{"$f":"'Operating Data'!I10","v":472348.59366686433}]
[]
[null,null,"O&M Contract ",null,"USD 000's",{"$f":"'Operating Data'!Q10","v":2842.4879999999998}]
[null,null,"Project Administrative Cost",null,"USD 000's",{"$f":"'Operating Data'!O10","v":500}]
[null,null,"Insurance Cost",null,"USD 000's",{"$f":"'Operating Data'!P10","v":1017.062992}]
[]
[null,null,"PPA Price",null,"USD/MWH",40.251306122385706]
[null,null,"Inflate PPA Price",null,"Switch",true]
[null,null,"Target IRR",null,"%",0.1]
[null,null,"NPV at Target IRR",null,null,{"$f":"NPV(F25,198:198)","v":142619.54087950537}]
[]
[null,"Tax and Depreciation"]
[null,null,"Depreciation Rate",null,"% p.a.",{"$f":"'Operating Data'!E16","v":0.05}]
[null,null,"Tax Rate",null,"%",{"$f":"'Operating Data'!E15","v":0.15}]
[]
[null,"Debt Financing"]
[null,null,"Debt Size"]
[null,null,null,"Debt as Percent of Project Cost","%",{"$f":"'Operating Data'!F21","v":0.75}]
[null,null,null,"Repayment Tenor","Years",{"$f":"'Operating Data'!F22","v":15}]
[null,null,null,"Repayment Style","Code",1]
[null,null,null,"Base Interest Rate","% p.a.",{"$f":"'Operating Data'!F24","v":0.02}]
[null,null,null,"Credit Spread","%.p.a.",{"$f":"'Operating Data'!F25","v":1.4999999999999999E-2}]
[null,null,null,"Fees","%",0]
[null,null,null,"DSRA as Percent of Prospective Debt Service","%",0]
[null,null,null,"Interest Income Rate","%",0]
[]
[null,null,null,null,null,null,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30]
[null,null,null,"Tenor",null,null,null,{"$f":"H43<=$F$35","v":true},{"$f":"I43<=$F$35","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"Level DS Payment",null,{"$f":"F37+F38","v":3.5000000000000003E-2},null,{"$f":"IF(H44,PPMT($F$45,H43,$F$35,-1))","v":5.1825069366032962E-2},{"$f":"IF(I44,PPMT($F$45,I43,$F$35,-1))","v":5.3638946793844108E-2},5.5516309931628663E-2,5.745938077923566E-2,5.9470459106508909E-2,6.1551925175236721E-2,6.3706242556370002E-2,6.5935961045842956E-2,6.8243719682447454E-2,7.0632249871333111E-2,7.3104378616829779E-2,7.5663031868418815E-2,7.8311237983813467E-2,8.1052131313246956E-2,8.3888955909210583E-2,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[null,null,null,"Level Repayment",null,{"$f":"F35","v":15},null,{"$f":"IF(H44,1/$F$46)","v":6.6666666666666666E-2},{"$f":"IF(I44,1/$F$46)","v":6.6666666666666666E-2},6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,6.6666666666666666E-2,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[]
["Operations"]
[null,"Time Line",null,null,null,null,null,null,null,{"$f":"J2","v":0},1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40]
[null,"Capacity",null,null,"MWp",{"$f":"F9","v":710},null,null,null,null,{"$f":"$F$50*K3","v":710},710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,710,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Hours of Operation",null,null,"Hours",{"$f":"F10","v":2009.6890093979932},{"$f":"'Sensitivity Factors'!G18","v":1},null,null,null,{"$f":"$F$51*K3*$G$51","v":2009.6890093979932},{"$f":"$F$51*L3*$G$51","v":2009.6890093979932},2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,2009.6890093979932,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Generation Before Degradation",null,null,"MWh",null,null,null,null,null,{"$f":"K50*K51","v":1426879.1966725751},{"$f":"L50*L51","v":1426879.1966725751},1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,1426879.1966725751,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Degradation",null,null,"Index",{"$f":"F12","v":4.0000000000000001E-3},null,null,null,1,{"$f":"J53*(1+$F$53)","v":1.004},{"$f":"K53*(1+$F$53)","v":1.008016},1.012048064,1.0160962562560001,1.020160641281024,1.0242412838461481,1.0283382489815327,1.0324516019774588,1.0365814083853686,1.0407277340189101,1.0448906449549857,1.0490702075348057,1.053266488364945,1.0574795543184048,1.0617094725356784,1.0659563104258212,1.0702201356675245,1.0745010162101947,1.0787990202750355,1.0831142163561356,1.0874466732215602,1.0917964599144465,1.0961636457541044,1.1005483003371208,1.1049504935384693,1.1093702955126232,1.1138077766946737,1.1182630078014524,1.1227360598326581,1.1272270040719887,1.1317359120882766,1.1362628557366297,1.1408079071595763,1.1453711387882146,1.1499526233433675,1.154552433836741,1.1591706435720879,1.1638073261463762,1.1684625554509618,1.1731364056727656]
[null,"Generation After Degradation",null,null,"MWh",null,null,null,null,null,{"$f":"K52/K53","v":1421194.4189965888},{"$f":"L52/L53","v":1415532.2898372398},1409892.7189613942,1404275.6164954123,1398680.8929237176,1393108.4590873681,1387558.2261826377,1382030.1057595992,1376524.0097207164,1371039.8503194386,1365577.5401588036,1360136.9921900432,1354718.1197111984,1349320.8363657354,1343945.0561411707,1338590.6933676999,1333257.6627168325,1327945.8792000322,1322655.2581673628,1317385.7153061382,1312137.1666395799,1306909.528525478,1301702.7176548583,1296516.6510506556,1291351.2460663901,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Contracts and EBITDA"]
[null,"Total EPC Cost",null,null,"USD 000's",{"$f":"F17","v":472348.59366686433},{"$f":"'Sensitivity Factors'!E18","v":1},null,null,{"$f":"F57*G57","v":472348.59366686433}]
[]
[null,"Inflation Index",null,null,"Index",{"$f":"F14","v":0.02},null,null,null,1,{"$f":"J59*(1+$F$59)","v":1.02},{"$f":"K59*(1+$F$59)","v":1.0404},1.0612079999999999,1.08243216,1.1040808032,1.1261624192640001,1.14868566764928,1.1716593810022657,1.1950925686223111,1.2189944199947573,1.2433743083946525,1.2682417945625455,1.2936066304537963,1.3194787630628724,1.3458683383241299,1.3727857050906125,1.4002414191924248,1.4282462475762734,1.4568111725277988,1.4859473959783549,1.5156663438979221,1.5459796707758806,1.5768992641913981,1.6084372494752261,1.6406059944647307,1.6734181143540252,1.7068864766411058,1.7410242061739281,1.7758446902974065,1.8113615841033548,1.8475888157854219,1.8845405921011305,1.9222314039431532,1.9606760320220162,1.9998895526624565,2.0398873437157055,2.0806850905900198,2.1222987924018204,2.1647447682498568,2.208039663614854]
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[null,"Insurance",null,null,"USD 000",{"$f":"F21","v":1017.062992},{"$f":"G61","v":1},null,null,{"$f":"$F62*J$59*J$3*$G62","v":0},{"$f":"$F62*K$59*K$3*$G62","v":1037.4042518399999},{"$f":"$F62*L$59*L$3*$G62","v":1058.1523368768001},{"$f":"$F62*M$59*M$3*$G62","v":1079.315383614336},{"$f":"$F62*N$59*N$3*$G62","v":1100.9016912866227},{"$f":"$F62*O$59*O$3*$G62","v":1122.9197251123553},{"$f":"$F62*P$59*P$3*$G62","v":1145.3781196146024},{"$f":"$F62*Q$59*Q$3*$G62","v":1168.2856820068944},{"$f":"$F62*R$59*R$3*$G62","v":1191.6513956470324},{"$f":"$F62*S$59*S$3*$G62","v":1215.484423559973},{"$f":"$F62*T$59*T$3*$G62","v":1239.7941120311725},{"$f":"$F62*U$59*U$3*$G62","v":1264.5899942717961},{"$f":"$F62*V$59*V$3*$G62","v":1289.8817941572318},{"$f":"$F62*W$59*W$3*$G62","v":1315.6794300403765},{"$f":"$F62*X$59*X$3*$G62","v":1341.9930186411841},{"$f":"$F62*Y$59*Y$3*$G62","v":1368.8328790140079},{"$f":"$F62*Z$59*Z$3*$G62","v":1396.209536594288},{"$f":"$F62*AA$59*AA$3*$G62","v":1424.1337273261738},{"$f":"$F62*AB$59*AB$3*$G62","v":1452.6164018726975},{"$f":"$F62*AC$59*AC$3*$G62","v":1481.6687299101513},{"$f":"$F62*AD$59*AD$3*$G62","v":1511.3021045083544},{"$f":"$F62*AE$59*AE$3*$G62","v":1541.5281465985215},{"$f":"$F62*AF$59*AF$3*$G62","v":1572.3587095304922},{"$f":"$F62*AG$59*AG$3*$G62","v":1603.805883721102},{"$f":"$F62*AH$59*AH$3*$G62","v":1635.882001395524},{"$f":"$F62*AI$59*AI$3*$G62","v":1668.5996414234344},{"$f":"$F62*AJ$59*AJ$3*$G62","v":0},{"$f":"$F62*AK$59*AK$3*$G62","v":0},{"$f":"$F62*AL$59*AL$3*$G62","v":0},{"$f":"$F62*AM$59*AM$3*$G62","v":0},{"$f":"$F62*AN$59*AN$3*$G62","v":0},{"$f":"$F62*AO$59*AO$3*$G62","v":0},{"$f":"$F62*AP$59*AP$3*$G62","v":0},{"$f":"$F62*AQ$59*AQ$3*$G62","v":0},{"$f":"$F62*AR$59*AR$3*$G62","v":0},{"$f":"$F62*AS$59*AS$3*$G62","v":0},{"$f":"$F62*AT$59*AT$3*$G62","v":0},{"$f":"$F62*AU$59*AU$3*$G62","v":0},{"$f":"$F62*AV$59*AV$3*$G62","v":0},{"$f":"$F62*AW$59*AW$3*$G62","v":0},{"$f":"$F62*AX$59*AX$3*$G62","v":0}]
[null,null,"Total Operating Cost",null,"USD 000",null,null,null,null,{"$f":"SUM(J60:J62)","v":0},{"$f":"SUM(K60:K62)","v":4446.7420118399996},4535.6768520768001,4626.3903891183354,4718.9181969007022,4813.2965608387167,4909.562492055491,5007.7537418966012,5107.9088167345335,5210.0669930692238,5314.2683329306092,5420.5536995892207,5528.9647735810049,5639.5440690526248,5752.3349504336775,5867.3816494423518,5984.729282431199,6104.4238680798226,6226.5123454414206,6351.0425923502489,6478.0634441972534,6607.6247130811998,6739.7772073428241,6874.5727514896789,7012.0642065194734,7152.3054906498628,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"PPA Price without Inflation",null,null,"USD/MWH",{"$f":"F23","v":40.251306122385706},null,null,null,{"$f":"$F$65","v":40.251306122385706},{"$f":"$F$65","v":40.251306122385706},40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706,40.251306122385706]
[null,"Inflation Index",null,null,"Index",{"$f":"F24","v":true},null,null,null,{"$f":"IF($F$66,J59,1)","v":1},{"$f":"IF($F$66,K59,1)","v":1.02},1.0404,1.0612079999999999,1.08243216,1.1040808032,1.1261624192640001,1.14868566764928,1.1716593810022657,1.1950925686223111,1.2189944199947573,1.2433743083946525,1.2682417945625455,1.2936066304537963,1.3194787630628724,1.3458683383241299,1.3727857050906125,1.4002414191924248,1.4282462475762734,1.4568111725277988,1.4859473959783549,1.5156663438979221,1.5459796707758806,1.5768992641913981,1.6084372494752261,1.6406059944647307,1.6734181143540252,1.7068864766411058,1.7410242061739281,1.7758446902974065,1.8113615841033548,1.8475888157854219,1.8845405921011305,1.9222314039431532,1.9606760320220162,1.9998895526624565,2.0398873437157055,2.0806850905900198,2.1222987924018204,2.1647447682498568,2.208039663614854]
[null,"PPA Price after Inflation",null,null,"USD/MWH",null,null,null,null,{"$f":"J65*J66","v":40.251306122385706},{"$f":"K65*K66","v":41.05633224483342},41.877458889730086,42.715008067524685,43.569308228875187,44.440694393452688,45.329508281321743,46.236098446948176,47.160820415887144,48.10403682420489,49.066117560688987,50.047439911902771,51.04838871014082,52.069356484343636,53.110743614030511,54.172958486311124,55.25641765603735,56.361546009158097,57.488776929341263,58.638552467928086,59.811323517286652,61.007549987632395,62.227700987385042,63.472255007132738,64.741700107275392,66.036534109420899,67.357264791609325,68.704410087441516,70.07849828919035,71.480068254974142,72.909669620073643,74.367863012475112,75.855220272724623,77.372324678179112,78.919771171742696,80.498166595177551,82.108129927081094,83.750292525622726,85.425298376135189,87.133804343657886,88.876480430531046]
[null,"Revenues",null,null,"USD 000",null,null,null,null,{"$f":"J67*J54/1000","v":0},{"$f":"K67*K54/1000","v":58349.030250826945},59278.8952747445,60223.578864780262,61183.31717338234,62158.350116384456,63148.921432980227,64155.278746653225,65177.673627077973,66216.361653007509,67271.602476162996,68343.659886141715,69432.801876359095,70539.300711042102,71663.432993289782,72805.479734218723,73965.726423210246,75144.463099277345,76341.984423568603,77558.589753027874,78794.583215227511,80050.273784394507,81325.975358647804,82622.00683846687,83938.69220641056,85276.360608106348,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Pre-tax Cash Flow",null,null,null,"USD 000's"]
[null,"EBITDA",null,null,null,null,null,null,null,{"$f":"J68-J63","v":0},{"$f":"K68-K63","v":53902.288238986948},54743.218422667698,55597.188475661926,56464.398976481636,57345.053555545739,58239.358940924736,59147.525004756622,60069.76481034344,61006.294659938285,61957.334143232387,62923.106186552497,63903.837102778089,64899.756641989479,65911.098042856102,66938.098084776371,67980.997140779044,69040.03923119753,70115.472078127175,71207.547160677626,72316.51977103026,73442.64907131331,74586.198151304983,75747.434086977184,76926.62799989109,78124.05511745649,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"CAPEX",null,null,null,null,null,null,null,{"$f":"J57","v":472348.59366686433}]
[null,"Working Capital Changes"]
[null,null,"Pre-tax Free Cash Flow",null,null,null,null,null,null,{"$f":"J71-J72-J73","v":-472348.59366686433},{"$f":"K71-K72-K73","v":53902.288238986948},54743.218422667698,55597.188475661926,56464.398976481636,57345.053555545739,58239.358940924736,59147.525004756622,60069.76481034344,61006.294659938285,61957.334143232387,62923.106186552497,63903.837102778089,64899.756641989479,65911.098042856102,66938.098084776371,67980.997140779044,69040.03923119753,70115.472078127175,71207.547160677626,72316.51977103026,73442.64907131331,74586.198151304983,75747.434086977184,76926.62799989109,78124.05511745649,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Pre-tax IRR",null,null,{"$f":"IRR(74:74)","v":0.11977531693465848}]
[null,null,null,"NPV Target IRR",{"$f":"F25","v":0.1},{"$f":"NPV(E76,J74:AX74)","v":72244.475321702674}]
[]
["Depreciation and taxes"]
[null,"Plant Cost without Financing",null,null,"USD 000's",null,null,null,null,{"$f":"G79+J72","v":472348.59366686433},{"$f":"J79+K72","v":472348.59366686433},472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433]
[null,"Depreciation Expense",null,null,"USD 000's",{"$f":"F29","v":0.05},{"$f":"SUM(J80:AX80)=F17","v":true},null,null,{"$f":"MIN($F$80*J79*J3,G82)","v":0},{"$f":"MIN($F$80*K79*K3,J82)","v":23617.429683343216},23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Accumulated Depreciation",null,null,"USD 000's",null,null,null,null,{"$f":"G81+J80","v":0},{"$f":"J81+K80","v":23617.429683343216},47234.859366686433,70852.289050029649,94469.718733372865,118087.14841671608,141704.5781000593,165322.00778340251,188939.43746674573,212556.86715008895,236174.29683343216,259791.72651677538,283409.1562001186,307026.58588346181,330644.01556680503,354261.44525014824,377878.87493349146,401496.30461683468,425113.73430017789,448731.16398352111,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433,472348.59366686433]
[null,"Net Plant",null,null,"USD 000's",null,null,null,null,{"$f":"J79-J81","v":472348.59366686433},{"$f":"K79-K81","v":448731.16398352111},425113.73430017789,401496.30461683468,377878.87493349146,354261.44525014824,330644.01556680503,307026.58588346181,283409.1562001186,259791.72651677538,236174.29683343216,212556.86715008895,188939.43746674573,165322.00778340251,141704.5781000593,118087.14841671608,94469.718733372865,70852.289050029649,47234.859366686433,23617.429683343216,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Depreciation Rate",null,null,"%",null,null,null,null,null,{"$f":"K80/K79","v":0.05},{"$f":"L80/L79","v":0.05},0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"EBIT",null,null,"USD 000's",null,null,null,null,{"$f":"J71-J80","v":0},{"$f":"K71-K80","v":30284.858555643732},31125.788739324482,31979.758792318709,32846.96929313842,33727.623872202523,34621.92925758152,35530.095321413406,36452.335127000224,37388.864976595069,38339.904459889171,39305.676503209281,40286.407419434872,41282.326958646263,42293.668359512885,43320.668401433155,44363.567457435827,45422.609547854314,46498.042394783959,47590.11747733441,48699.090087687044,73442.64907131331,74586.198151304983,75747.434086977184,76926.62799989109,78124.05511745649,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Taxes on EBIT",null,null,"USD 000's",{"$f":"F30","v":0.15},null,null,null,{"$f":"MAX(J85*$F$86,0)","v":0},{"$f":"MAX(K85*$F$86,0)","v":4542.7287833465598},4668.8683108986725,4796.9638188478066,4927.0453939707631,5059.1435808303786,5193.2893886372276,5329.5142982120105,5467.8502690500336,5608.3297464892603,5750.985668983375,5895.8514754813923,6042.9611129152308,6192.3490437969394,6344.0502539269328,6498.1002602149729,6654.5351186153739,6813.3914321781467,6974.7063592175937,7138.517621600161,7304.8635131530564,11016.397360696996,11187.929722695748,11362.115113046577,11538.994199983663,11718.608267618472,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["After Tax Cash Flow"]
[null,null,"Pre-tax cash Flow",null,null,null,null,null,null,{"$f":"J74","v":-472348.59366686433},{"$f":"K74","v":53902.288238986948},54743.218422667698,55597.188475661926,56464.398976481636,57345.053555545739,58239.358940924736,59147.525004756622,60069.76481034344,61006.294659938285,61957.334143232387,62923.106186552497,63903.837102778089,64899.756641989479,65911.098042856102,66938.098084776371,67980.997140779044,69040.03923119753,70115.472078127175,71207.547160677626,72316.51977103026,73442.64907131331,74586.198151304983,75747.434086977184,76926.62799989109,78124.05511745649,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less taxes",null,null,null,null,null,null,{"$f":"J86","v":0},{"$f":"K86","v":4542.7287833465598},4668.8683108986725,4796.9638188478066,4927.0453939707631,5059.1435808303786,5193.2893886372276,5329.5142982120105,5467.8502690500336,5608.3297464892603,5750.985668983375,5895.8514754813923,6042.9611129152308,6192.3490437969394,6344.0502539269328,6498.1002602149729,6654.5351186153739,6813.3914321781467,6974.7063592175937,7138.517621600161,7304.8635131530564,11016.397360696996,11187.929722695748,11362.115113046577,11538.994199983663,11718.608267618472,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"After Tax Cash Flow",null,null,null,null,null,null,{"$f":"J89-J90","v":-472348.59366686433},{"$f":"K89-K90","v":49359.559455640388},50074.350111769025,50800.22465681412,51537.35358251087,52285.90997471536,53046.06955228751,53818.010706544614,54601.914541293409,55397.964913449025,56206.348474249011,57027.254711071102,57860.875989862856,58707.407598192542,59567.047788929165,60439.997824561397,61326.462022163672,62226.647799019382,63140.765718909584,64069.029539077463,65011.656257877206,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"After Tax Project IRR",null,null,{"$f":"IRR(91:91)","v":0.10687648737361877},{"$f":"NA()","v":{"$error":"#N/A"}}]
[null,null,null,null,null,null,null,null,null,null,{"$f":"IF(K3,K4,NA())","v":"2020-01-01"},{"$f":"IF(L3,L4,NA())","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","2044-01-01",{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"},{"$error":"#N/A"}]
[null,null,"ROIC",null,null,null,null,null,null,null,{"$f":"IF(J82,(K85-K86)/J82)","v":5.4498161140821462E-2},{"$f":"IF(K82,(L85-L86)/K82)","v":5.8959400531845819E-2},6.394240594983179E-2,6.9539678393336274E-2,7.5866850975508854E-2,8.3070399738713815E-2,9.1338659105715814E-2,0.10091792138714327,0.11213658604475429,0.12544248128241084,0.14146257859419395,0.16110251701414066,0.1857207705565723,0.21745210203765206,0.25985447072300888,0.31933222915799087,0.40869411525025395,0.55782722852692124,0.8563929351775259,1.7526982033835927,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false,false]
[]
["Debt Sizing and Sources and Uses"]
[null,"Uses of Funds"]
[null,null,"Capital Expenditures",null,null,null,null,null,null,{"$f":"J72","v":472348.59366686433}]
[null,null,"IDC"]
[null,null,"Fees",null,null,{"$f":"F39","v":0},null,null,null,0]
[null,null,"DSRA",null,null,null,null,null,null,0]
[null,null,null,"Total",null,null,null,null,null,{"$f":"SUM(J98:J101)","v":472348.59366686433}]
[]
[null,"Sources of Funds"]
[null,null,"Debt Financing",null,null,{"$f":"F34","v":0.75},null,null,null,{"$f":"F105*J102","v":354261.44525014824}]
[null,null,"Equity Financing",null,null,null,null,null,null,{"$f":"J102-J105","v":118087.14841671608}]
[null,null,null,"Total",null,null,null,null,null,{"$f":"SUM(J105:J106)","v":472348.59366686433}]
[]
["Debt Schedule"]
[null,"Debt Amount",null,null,null,{"$f":"J105","v":354261.44525014824},null,null,null,null,{"$f":"$F$110","v":354261.44525014824},{"$f":"$F$110","v":354261.44525014824},354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824,354261.44525014824]
[]
[null,"Repayment Percent",null,null,null,null,null,null,null,{"$f":"LOOKUP(J2,43:43,46:46)","v":0},{"$f":"LOOKUP(K2,43:43,45:45)","v":5.1825069366032962E-2},{"$f":"LOOKUP(L2,43:43,45:45)","v":5.3638946793844108E-2},{"$f":"LOOKUP(M2,43:43,45:45)","v":5.5516309931628663E-2},{"$f":"LOOKUP(N2,43:43,45:45)","v":5.745938077923566E-2},{"$f":"LOOKUP(O2,43:43,45:45)","v":5.9470459106508909E-2},{"$f":"LOOKUP(P2,43:43,45:45)","v":6.1551925175236721E-2},{"$f":"LOOKUP(Q2,43:43,45:45)","v":6.3706242556370002E-2},{"$f":"LOOKUP(R2,43:43,45:45)","v":6.5935961045842956E-2},{"$f":"LOOKUP(S2,43:43,45:45)","v":6.8243719682447454E-2},{"$f":"LOOKUP(T2,43:43,45:45)","v":7.0632249871333111E-2},{"$f":"LOOKUP(U2,43:43,45:45)","v":7.3104378616829779E-2},{"$f":"LOOKUP(V2,43:43,45:45)","v":7.5663031868418815E-2},{"$f":"LOOKUP(W2,43:43,45:45)","v":7.8311237983813467E-2},{"$f":"LOOKUP(X2,43:43,45:45)","v":8.1052131313246956E-2},{"$f":"LOOKUP(Y2,43:43,45:45)","v":8.3888955909210583E-2},{"$f":"LOOKUP(Z2,43:43,45:45)","v":false},{"$f":"LOOKUP(AA2,43:43,45:45)","v":false},{"$f":"LOOKUP(AB2,43:43,45:45)","v":false},{"$f":"LOOKUP(AC2,43:43,45:45)","v":false},{"$f":"LOOKUP(AD2,43:43,45:45)","v":false},{"$f":"LOOKUP(AE2,43:43,45:45)","v":false},{"$f":"LOOKUP(AF2,43:43,45:45)","v":false},{"$f":"LOOKUP(AG2,43:43,45:45)","v":false},{"$f":"LOOKUP(AH2,43:43,45:45)","v":false},{"$f":"LOOKUP(AI2,43:43,45:45)","v":false},{"$f":"LOOKUP(AJ2,43:43,45:45)","v":false},{"$f":"LOOKUP(AK2,43:43,45:45)","v":false},{"$f":"LOOKUP(AL2,43:43,45:45)","v":false},{"$f":"LOOKUP(AM2,43:43,45:45)","v":false},{"$f":"LOOKUP(AN2,43:43,45:45)","v":false},{"$f":"LOOKUP(AO2,43:43,45:45)","v":false},{"$f":"LOOKUP(AP2,43:43,45:45)","v":false},{"$f":"LOOKUP(AQ2,43:43,45:45)","v":false},{"$f":"LOOKUP(AR2,43:43,45:45)","v":false},{"$f":"LOOKUP(AS2,43:43,45:45)","v":false},{"$f":"LOOKUP(AT2,43:43,45:45)","v":false},{"$f":"LOOKUP(AU2,43:43,45:45)","v":false},{"$f":"LOOKUP(AV2,43:43,45:45)","v":false},{"$f":"LOOKUP(AW2,43:43,45:45)","v":false},{"$f":"LOOKUP(AX2,43:43,45:45)","v":false}]
[null,"Flat Debt Repayment",null,null,null,{"$f":"F35","v":15},null,null,null,null,{"$f":"K110/$F$113","v":23617.429683343216},{"$f":"L110/$F$113","v":23617.429683343216},23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216,23617.429683343216]
[null,"Mortgage without Inflation",null,null,null,{"$f":"F125","v":3.5000000000000003E-2},null,null,null,null,{"$f":"PMT($F$114,Model!$F$113,-Model!K110)-K125","v":18359.623973800022},{"$f":"PMT($F$114,Model!$F$113,-Model!L110)-L125","v":19002.210812883022},{"$f":"PMT($F$114,Model!$F$113,-Model!M110)-M125","v":19667.28819133393},{"$f":"PMT($F$114,Model!$F$113,-Model!N110)-N125","v":20355.643278030617},{"$f":"PMT($F$114,Model!$F$113,-Model!O110)-O125","v":21068.090792761686},{"$f":"PMT($F$114,Model!$F$113,-Model!P110)-P125","v":21805.473970508348},{"$f":"PMT($F$114,Model!$F$113,-Model!Q110)-Q125","v":22568.66555947614},{"$f":"PMT($F$114,Model!$F$113,-Model!R110)-R125","v":23358.568854057805},{"$f":"PMT($F$114,Model!$F$113,-Model!S110)-S125","v":24176.118763949828},{"$f":"PMT($F$114,Model!$F$113,-Model!T110)-T125","v":25022.282920688071},{"$f":"PMT($F$114,Model!$F$113,-Model!U110)-U125","v":25898.062822912154},{"$f":"PMT($F$114,Model!$F$113,-Model!V110)-V125","v":26804.495021714079},{"$f":"PMT($F$114,Model!$F$113,-Model!W110)-W125","v":27742.652347474072},{"$f":"PMT($F$114,Model!$F$113,-Model!X110)-X125","v":28713.645179635667},{"$f":"PMT($F$114,Model!$F$113,-Model!Y110)-Y125","v":29718.622760922914},{"$f":"PMT($F$114,Model!$F$113,-Model!Z110)-Z125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AA110)-AA125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AB110)-AB125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AC110)-AC125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AD110)-AD125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AE110)-AE125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AF110)-AF125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AG110)-AG125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AH110)-AH125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AI110)-AI125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AJ110)-AJ125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AK110)-AK125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AL110)-AL125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AM110)-AM125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AN110)-AN125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AO110)-AO125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AP110)-AP125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AQ110)-AQ125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AR110)-AR125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AS110)-AS125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AT110)-AT125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AU110)-AU125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AV110)-AV125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AW110)-AW125","v":30758.774557555211},{"$f":"PMT($F$114,Model!$F$113,-Model!AX110)-AX125","v":30758.774557555211}]
[null,"Repayment with Inflation"]
[]
[null,"Repayment Applied",null,null,null,1,null,null,null,null,{"$f":"K112*$J$121","v":18359.623973800022},{"$f":"L112*$J$121","v":19002.210812883019},19667.28819133393,20355.643278030613,21068.090792761686,21805.473970508345,22568.665559476136,23358.568854057801,24176.118763949824,25022.282920688067,25898.06282291215,26804.495021714072,27742.652347474064,28713.645179635663,29718.622760922906,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Debt Balance"]
[null,null,"Opening Balance",null,null,null,null,null,null,{"$f":"H123","v":0},{"$f":"J123","v":354261.44525014824},335901.8212763482,316899.61046346516,297232.32227213122,276876.6789941006,255808.58820133892,234003.11423083057,211434.44867135445,188075.87981729663,163899.7610533468,138877.47813265873,112979.41530974658,86174.920288032503,58432.267940558435,29718.622760922772,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Draws",null,null,null,null,null,null,{"$f":"J105","v":354261.44525014824},{"$f":"K105","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Repayments",null,null,null,null,null,null,{"$f":"MIN(J117,J120)","v":0},{"$f":"MIN(K117,K120)","v":18359.623973800022},19002.210812883019,19667.28819133393,20355.643278030613,21068.090792761686,21805.473970508345,22568.665559476136,23358.568854057801,24176.118763949824,25022.282920688067,25898.06282291215,26804.495021714072,27742.652347474064,28713.645179635663,29718.622760922772,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Closing Balance",null,null,null,null,null,null,{"$f":"J120+J121-J122","v":354261.44525014824},{"$f":"K120+K121-K122","v":335901.8212763482},316899.61046346516,297232.32227213122,276876.6789941006,255808.58820133892,234003.11423083057,211434.44867135445,188075.87981729663,163899.7610533468,138877.47813265873,112979.41530974658,86174.920288032503,58432.267940558435,29718.622760922772,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Fees"]
[null,null,"Interest Expense",null,null,{"$f":"F37+F38","v":3.5000000000000003E-2},null,null,null,{"$f":"$F$125*J120","v":0},{"$f":"$F$125*K120","v":12399.15058375519},11756.563744672188,11091.486366221281,10403.131279524594,9690.6837647935226,8953.3005870468623,8190.1089980790712,7400.2057034974059,6582.6557936053832,5736.4916368671384,4860.7117346430559,3954.2795358411304,3016.1222100811378,2045.1293779195455,1040.1517966322972,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,"Interest Rate",null,null,null,null,null,null,{"$f":"$F$37+$F$38","v":3.5000000000000003E-2},{"$f":"$F$37+$F$38","v":3.5000000000000003E-2},3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2,3.5000000000000003E-2]
[]
[null,null,"Gross Fee Balance",null,null,null,null,null,null,{"$f":"J100","v":0},{"$f":"J130","v":0},{"$f":"K130","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Fee Rate",null,null,null,null,null,null,null,{"$f":"K83","v":0.05},{"$f":"L83","v":0.05},0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0.05,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Amortisation of Fees",null,null,null,null,null,null,null,{"$f":"K130*K131","v":0},{"$f":"L130*L131","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Net Fee Balance",null,null,null,null,null,null,{"$f":"J130","v":0},{"$f":"J133-K132","v":0},{"$f":"K133-L132","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt Cash Flow",null,null,null,null,null,null,{"$f":"J125+J122-J121","v":-354261.44525014824},{"$f":"K125+K122-K121","v":30758.774557555211},30758.774557555207,30758.774557555211,30758.774557555207,30758.774557555211,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555204,30758.774557555207,30758.774557555204,30758.774557555204,30758.774557555207,30758.774557555069,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt IRR",null,null,{"$f":"IRR(J134:AX134)","v":3.499999999999992E-2}]
[]
["DSRA "]
[null,"Debt Service",null,null,null,null,null,null,null,{"$f":"J125+J122","v":0},{"$f":"K125+K122","v":30758.774557555211},30758.774557555207,30758.774557555211,30758.774557555207,30758.774557555211,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555204,30758.774557555207,30758.774557555204,30758.774557555204,30758.774557555207,30758.774557555069,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Prospective Debt Service",null,null,null,null,null,null,null,{"$f":"K138","v":30758.774557555211},{"$f":"L138","v":30758.774557555207},30758.774557555211,30758.774557555207,30758.774557555211,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555207,30758.774557555204,30758.774557555207,30758.774557555204,30758.774557555204,30758.774557555207,30758.774557555069,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Required Debt Service",null,null,null,{"$f":"F40","v":0},null,null,null,{"$f":"J139*$F$140","v":0},{"$f":"K139*$F$140","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,"Funding During Construction",null,null,null,null,null,null,null,{"$f":"J140-I140","v":0}]
[null,"Funding After Construcion",null,null,null,null,null,null,null,null,{"$f":"K140-J140","v":0},{"$f":"L140-K140","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Opening Balance",null,null,null,null,null,null,null,{"$f":"I149","v":0},{"$f":"J149","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Add: Funding During Construction",null,null,null,null,null,null,null,{"$f":"J143","v":0},{"$f":"K143","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Add: Funding After Construction",null,null,null,null,null,null,null,{"$f":"J144","v":0},{"$f":"K144","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Closing Balance",null,null,null,null,null,null,null,{"$f":"J146+J147+J148","v":0},{"$f":"K146+K147+K148","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Interest Income Rate",null,null,null,{"$f":"F41","v":0},null,null,null,{"$f":"$F$151","v":0},{"$f":"$F$151","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Interest Income  ",null,null,null,null,null,null,null,{"$f":"J151*J146","v":0},{"$f":"K151*K146","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
["Financial Statements"]
[null,"Profit and Loss"]
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[null,null,"Less: Operating Costs",null,null,null,null,null,null,{"$f":"J63","v":0},{"$f":"K63","v":4446.7420118399996},{"$f":"L63","v":4535.6768520768001},{"$f":"M63","v":4626.3903891183354},{"$f":"N63","v":4718.9181969007022},{"$f":"O63","v":4813.2965608387167},{"$f":"P63","v":4909.562492055491},{"$f":"Q63","v":5007.7537418966012},{"$f":"R63","v":5107.9088167345335},{"$f":"S63","v":5210.0669930692238},{"$f":"T63","v":5314.2683329306092},{"$f":"U63","v":5420.5536995892207},{"$f":"V63","v":5528.9647735810049},{"$f":"W63","v":5639.5440690526248},{"$f":"X63","v":5752.3349504336775},{"$f":"Y63","v":5867.3816494423518},{"$f":"Z63","v":5984.729282431199},{"$f":"AA63","v":6104.4238680798226},{"$f":"AB63","v":6226.5123454414206},{"$f":"AC63","v":6351.0425923502489},{"$f":"AD63","v":6478.0634441972534},{"$f":"AE63","v":6607.6247130811998},{"$f":"AF63","v":6739.7772073428241},{"$f":"AG63","v":6874.5727514896789},{"$f":"AH63","v":7012.0642065194734},{"$f":"AI63","v":7152.3054906498628},{"$f":"AJ63","v":0},{"$f":"AK63","v":0},{"$f":"AL63","v":0},{"$f":"AM63","v":0},{"$f":"AN63","v":0},{"$f":"AO63","v":0},{"$f":"AP63","v":0},{"$f":"AQ63","v":0},{"$f":"AR63","v":0},{"$f":"AS63","v":0},{"$f":"AT63","v":0},{"$f":"AU63","v":0},{"$f":"AV63","v":0},{"$f":"AW63","v":0},{"$f":"AX63","v":0}]
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[null,null,"Less: Depreciation Expense",null,null,null,null,null,null,{"$f":"J80","v":0},{"$f":"K80","v":23617.429683343216},{"$f":"L80","v":23617.429683343216},{"$f":"M80","v":23617.429683343216},{"$f":"N80","v":23617.429683343216},{"$f":"O80","v":23617.429683343216},{"$f":"P80","v":23617.429683343216},{"$f":"Q80","v":23617.429683343216},{"$f":"R80","v":23617.429683343216},{"$f":"S80","v":23617.429683343216},{"$f":"T80","v":23617.429683343216},{"$f":"U80","v":23617.429683343216},{"$f":"V80","v":23617.429683343216},{"$f":"W80","v":23617.429683343216},{"$f":"X80","v":23617.429683343216},{"$f":"Y80","v":23617.429683343216},{"$f":"Z80","v":23617.429683343216},{"$f":"AA80","v":23617.429683343216},{"$f":"AB80","v":23617.429683343216},{"$f":"AC80","v":23617.429683343216},{"$f":"AD80","v":23617.429683343216},{"$f":"AE80","v":0},{"$f":"AF80","v":0},{"$f":"AG80","v":0},{"$f":"AH80","v":0},{"$f":"AI80","v":0},{"$f":"AJ80","v":0},{"$f":"AK80","v":0},{"$f":"AL80","v":0},{"$f":"AM80","v":0},{"$f":"AN80","v":0},{"$f":"AO80","v":0},{"$f":"AP80","v":0},{"$f":"AQ80","v":0},{"$f":"AR80","v":0},{"$f":"AS80","v":0},{"$f":"AT80","v":0},{"$f":"AU80","v":0},{"$f":"AV80","v":0},{"$f":"AW80","v":0},{"$f":"AX80","v":0}]
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[null,null,"Less: Interest Expense",null,null,null,null,null,null,{"$f":"J125","v":0},{"$f":"K125","v":12399.15058375519},{"$f":"L125","v":11756.563744672188},{"$f":"M125","v":11091.486366221281},{"$f":"N125","v":10403.131279524594},{"$f":"O125","v":9690.6837647935226},{"$f":"P125","v":8953.3005870468623},{"$f":"Q125","v":8190.1089980790712},{"$f":"R125","v":7400.2057034974059},{"$f":"S125","v":6582.6557936053832},{"$f":"T125","v":5736.4916368671384},{"$f":"U125","v":4860.7117346430559},{"$f":"V125","v":3954.2795358411304},{"$f":"W125","v":3016.1222100811378},{"$f":"X125","v":2045.1293779195455},{"$f":"Y125","v":1040.1517966322972},{"$f":"Z125","v":0},{"$f":"AA125","v":0},{"$f":"AB125","v":0},{"$f":"AC125","v":0},{"$f":"AD125","v":0},{"$f":"AE125","v":0},{"$f":"AF125","v":0},{"$f":"AG125","v":0},{"$f":"AH125","v":0},{"$f":"AI125","v":0},{"$f":"AJ125","v":0},{"$f":"AK125","v":0},{"$f":"AL125","v":0},{"$f":"AM125","v":0},{"$f":"AN125","v":0},{"$f":"AO125","v":0},{"$f":"AP125","v":0},{"$f":"AQ125","v":0},{"$f":"AR125","v":0},{"$f":"AS125","v":0},{"$f":"AT125","v":0},{"$f":"AU125","v":0},{"$f":"AV125","v":0},{"$f":"AW125","v":0},{"$f":"AX125","v":0}]
[null,null,null,"Earnings Before Tax",null,null,null,null,null,{"$f":"J161-J162","v":0},{"$f":"K161-K162","v":17885.707971888543},19369.224994652293,20888.272426097428,22443.838013613826,24036.940107408998,25668.628670534657,27339.986323334335,29052.129423502818,30806.209182989685,32603.41282302203,34444.964768566228,36332.127883593741,38266.204748565127,40248.538981593338,42280.516604800854,44363.567457435827,45422.609547854314,46498.042394783959,47590.11747733441,48699.090087687044,73442.64907131331,74586.198151304983,75747.434086977184,76926.62799989109,78124.05511745649,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Taxes",null,null,{"$f":"F30","v":0.15},null,null,null,{"$f":"MAX($F$164*J163,0)","v":0},{"$f":"MAX($F$164*K163,0)","v":2682.8561957832812},2905.3837491978438,3133.2408639146142,3366.5757020420738,3605.5410161113496,3850.2943005801985,4100.9979485001504,4357.8194135254225,4620.9313774484526,4890.511923453304,5166.7447152849336,5449.8191825390613,5739.9307122847686,6037.2808472390007,6342.0774907201276,6654.5351186153739,6813.3914321781467,6974.7063592175937,7138.517621600161,7304.8635131530564,11016.397360696996,11187.929722695748,11362.115113046577,11538.994199983663,11718.608267618472,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Earnings  ",null,null,null,null,null,{"$f":"J163-J164","v":0},{"$f":"K163-K164","v":15202.851776105263},16463.841245454449,17755.031562182812,19077.262311571751,20431.399091297648,21818.33436995446,23238.988374834185,24694.310009977395,26185.277805541235,27712.900899568725,29278.220053281293,30882.308701054681,32526.27403628036,34211.258134354335,35938.439114080727,37709.032338820456,38609.218115676165,39523.336035566368,40451.599855734246,41394.22657453399,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Cash Flow Waterfall During Operations"]
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[null,null,"Less: DSRA Changes",null,null,null,null,null,null,{"$f":"J148","v":0},{"$f":"K148","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"CFADS",null,null,null,null,null,{"$f":"J168-J169-J170","v":0},{"$f":"K168-K169-K170","v":51219.432043203669},51837.834673469857,52463.94761174731,53097.823274439565,53739.512539434392,54389.064640344535,55046.527056256469,55711.945396818017,56385.36328248983,57066.822219779082,57756.361471267563,58454.017920239028,59159.825929704712,59873.817195617099,60596.020594056245,61326.462022163672,62226.647799019382,63140.765718909584,64069.029539077463,65011.656257877206,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Interest",null,null,null,null,null,null,{"$f":"J125","v":0},{"$f":"K125","v":12399.15058375519},{"$f":"L125","v":11756.563744672188},{"$f":"M125","v":11091.486366221281},{"$f":"N125","v":10403.131279524594},{"$f":"O125","v":9690.6837647935226},{"$f":"P125","v":8953.3005870468623},{"$f":"Q125","v":8190.1089980790712},{"$f":"R125","v":7400.2057034974059},{"$f":"S125","v":6582.6557936053832},{"$f":"T125","v":5736.4916368671384},{"$f":"U125","v":4860.7117346430559},{"$f":"V125","v":3954.2795358411304},{"$f":"W125","v":3016.1222100811378},{"$f":"X125","v":2045.1293779195455},{"$f":"Y125","v":1040.1517966322972},{"$f":"Z125","v":0},{"$f":"AA125","v":0},{"$f":"AB125","v":0},{"$f":"AC125","v":0},{"$f":"AD125","v":0},{"$f":"AE125","v":0},{"$f":"AF125","v":0},{"$f":"AG125","v":0},{"$f":"AH125","v":0},{"$f":"AI125","v":0},{"$f":"AJ125","v":0},{"$f":"AK125","v":0},{"$f":"AL125","v":0},{"$f":"AM125","v":0},{"$f":"AN125","v":0},{"$f":"AO125","v":0},{"$f":"AP125","v":0},{"$f":"AQ125","v":0},{"$f":"AR125","v":0},{"$f":"AS125","v":0},{"$f":"AT125","v":0},{"$f":"AU125","v":0},{"$f":"AV125","v":0},{"$f":"AW125","v":0},{"$f":"AX125","v":0}]
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[null,null,null,"Cash Flow before Trap and Sweep",null,null,null,null,null,{"$f":"J171-J172-J173","v":0},{"$f":"K171-K172-K173","v":20460.657485648459},21079.06011591465,21705.173054192099,22339.048716884361,22980.737981879181,23630.290082789328,24287.752498701262,24953.17083926281,25626.588724934627,26308.047662223875,26997.586913712359,27695.243362683825,28401.051372149512,29115.042638061888,29837.246036501172,61326.462022163672,62226.647799019382,63140.765718909584,64069.029539077463,65011.656257877206,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Dividends",null,null,null,null,null,{"$f":"J174","v":0},{"$f":"K174","v":20460.657485648459},21079.06011591465,21705.173054192099,22339.048716884361,22980.737981879181,23630.290082789328,24287.752498701262,24953.17083926281,25626.588724934627,26308.047662223875,26997.586913712359,27695.243362683825,28401.051372149512,29115.042638061888,29837.246036501172,61326.462022163672,62226.647799019382,63140.765718909584,64069.029539077463,65011.656257877206,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Balance Sheet"]
[null,null,"Equity Balance"]
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[null,null,null,"Add: Equity Contributions",null,null,null,null,null,{"$f":"J106","v":118087.14841671608},{"$f":"K106","v":0},{"$f":"L106","v":0},{"$f":"M106","v":0},{"$f":"N106","v":0},{"$f":"O106","v":0},{"$f":"P106","v":0},{"$f":"Q106","v":0},{"$f":"R106","v":0},{"$f":"S106","v":0},{"$f":"T106","v":0},{"$f":"U106","v":0},{"$f":"V106","v":0},{"$f":"W106","v":0},{"$f":"X106","v":0},{"$f":"Y106","v":0},{"$f":"Z106","v":0},{"$f":"AA106","v":0},{"$f":"AB106","v":0},{"$f":"AC106","v":0},{"$f":"AD106","v":0},{"$f":"AE106","v":0},{"$f":"AF106","v":0},{"$f":"AG106","v":0},{"$f":"AH106","v":0},{"$f":"AI106","v":0},{"$f":"AJ106","v":0},{"$f":"AK106","v":0},{"$f":"AL106","v":0},{"$f":"AM106","v":0},{"$f":"AN106","v":0},{"$f":"AO106","v":0},{"$f":"AP106","v":0},{"$f":"AQ106","v":0},{"$f":"AR106","v":0},{"$f":"AS106","v":0},{"$f":"AT106","v":0},{"$f":"AU106","v":0},{"$f":"AV106","v":0},{"$f":"AW106","v":0},{"$f":"AX106","v":0}]
[null,null,null,"Add: Income",null,null,null,null,null,{"$f":"J165","v":0},{"$f":"K165","v":15202.851776105263},16463.841245454449,17755.031562182812,19077.262311571751,20431.399091297648,21818.33436995446,23238.988374834185,24694.310009977395,26185.277805541235,27712.900899568725,29278.220053281293,30882.308701054681,32526.27403628036,34211.258134354335,35938.439114080727,37709.032338820456,38609.218115676165,39523.336035566368,40451.599855734246,41394.22657453399,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Dividends",null,null,null,null,null,{"$f":"J175","v":0},{"$f":"K175","v":20460.657485648459},21079.06011591465,21705.173054192099,22339.048716884361,22980.737981879181,23630.290082789328,24287.752498701262,24953.17083926281,25626.588724934627,26308.047662223875,26997.586913712359,27695.243362683825,28401.051372149512,29115.042638061888,29837.246036501172,61326.462022163672,62226.647799019382,63140.765718909584,64069.029539077463,65011.656257877206,62426.251710616314,63398.268428609234,64385.318973930611,65387.633799907431,66405.446849838016,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Closing Balance",null,null,null,null,null,{"$f":"J179+J180+J181-J182","v":118087.14841671608},{"$f":"K179+K180+K181-K182","v":112829.34270717288},108214.12383671268,104263.9823447034,101002.19593939077,98452.857048809237,96640.901335974369,95592.137212107293,95333.276382821874,95891.965463428482,97296.818700773336,99577.451840342284,102764.51717871314,106889.73984284401,111985.95533913645,118087.14841671599,94469.718733372778,70852.289050029562,47234.859366686353,23617.429683343136,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Assets"]
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[null,null,null,"Net Fees",null,null,null,null,null,{"$f":"J133","v":0},{"$f":"K133","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"DSRA",null,null,null,null,null,{"$f":"J149","v":0},{"$f":"K149","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total",null,null,null,null,null,{"$f":"J186+J187+J188","v":472348.59366686433},{"$f":"K186+K187+K188","v":448731.16398352111},425113.73430017789,401496.30461683468,377878.87493349146,354261.44525014824,330644.01556680503,307026.58588346181,283409.1562001186,259791.72651677538,236174.29683343216,212556.86715008895,188939.43746674573,165322.00778340251,141704.5781000593,118087.14841671608,94469.718733372865,70852.289050029649,47234.859366686433,23617.429683343216,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Debt",null,null,null,null,null,{"$f":"J123","v":354261.44525014824},{"$f":"K123","v":335901.8212763482},{"$f":"L123","v":316899.61046346516},{"$f":"M123","v":297232.32227213122},{"$f":"N123","v":276876.6789941006},{"$f":"O123","v":255808.58820133892},{"$f":"P123","v":234003.11423083057},{"$f":"Q123","v":211434.44867135445},{"$f":"R123","v":188075.87981729663},{"$f":"S123","v":163899.7610533468},{"$f":"T123","v":138877.47813265873},{"$f":"U123","v":112979.41530974658},{"$f":"V123","v":86174.920288032503},{"$f":"W123","v":58432.267940558435},{"$f":"X123","v":29718.622760922772},{"$f":"Y123","v":0},{"$f":"Z123","v":0},{"$f":"AA123","v":0},{"$f":"AB123","v":0},{"$f":"AC123","v":0},{"$f":"AD123","v":0},{"$f":"AE123","v":0},{"$f":"AF123","v":0},{"$f":"AG123","v":0},{"$f":"AH123","v":0},{"$f":"AI123","v":0},{"$f":"AJ123","v":0},{"$f":"AK123","v":0},{"$f":"AL123","v":0},{"$f":"AM123","v":0},{"$f":"AN123","v":0},{"$f":"AO123","v":0},{"$f":"AP123","v":0},{"$f":"AQ123","v":0},{"$f":"AR123","v":0},{"$f":"AS123","v":0},{"$f":"AT123","v":0},{"$f":"AU123","v":0},{"$f":"AV123","v":0},{"$f":"AW123","v":0},{"$f":"AX123","v":0}]
[null,null,null,"Equity",null,null,null,null,null,{"$f":"J183","v":118087.14841671608},{"$f":"K183","v":112829.34270717288},108214.12383671268,104263.9823447034,101002.19593939077,98452.857048809237,96640.901335974369,95592.137212107293,95333.276382821874,95891.965463428482,97296.818700773336,99577.451840342284,102764.51717871314,106889.73984284401,111985.95533913645,118087.14841671599,94469.718733372778,70852.289050029562,47234.859366686353,23617.429683343136,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Total",null,null,null,null,null,{"$f":"SUM(J191:J192)","v":472348.59366686433},{"$f":"SUM(K191:K192)","v":448731.16398352105},425113.73430017784,401496.30461683462,377878.87493349134,354261.44525014819,330644.01556680491,307026.58588346175,283409.15620011848,259791.72651677526,236174.29683343205,212556.86715008886,188939.43746674564,165322.00778340246,141704.57810005921,118087.14841671599,94469.718733372778,70852.289050029562,47234.859366686353,23617.429683343136,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,-8.0035533756017685E-11,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Difference",null,null,null,null,null,null,null,{"$f":"ROUND(J193-J189,2)","v":0},{"$f":"ROUND(K193-K189,2)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Test",null,null,null,{"$f":"AND(J195:AX195)","v":true},null,null,null,{"$f":"J194=0","v":true},{"$f":"K194=0","v":true},true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true,true]
[]
["Financial Ratios"]
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[null,"Equity IRR",null,null,null,null,null,null,null,{"$f":"IRR(J198:AX198)","v":0.20932156889419917}]
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[null,"Debt Service Period",null,null,{"$f":"'Operating Data'!F22","v":15},null,null,null,null,null,{"$f":"K2<=$E$206","v":true},{"$f":"L2<=$E$206","v":true},{"$f":"M2<=$E$206","v":true},{"$f":"N2<=$E$206","v":true},{"$f":"O2<=$E$206","v":true},{"$f":"P2<=$E$206","v":true},{"$f":"Q2<=$E$206","v":true},{"$f":"R2<=$E$206","v":true},{"$f":"S2<=$E$206","v":true},{"$f":"T2<=$E$206","v":true},{"$f":"U2<=$E$206","v":true},{"$f":"V2<=$E$206","v":true},{"$f":"W2<=$E$206","v":true},{"$f":"X2<=$E$206","v":true},{"$f":"Y2<=$E$206","v":true},{"$f":"Z2<=$E$206","v":false},{"$f":"AA2<=$E$206","v":false},{"$f":"AB2<=$E$206","v":false},{"$f":"AC2<=$E$206","v":false},{"$f":"AD2<=$E$206","v":false},{"$f":"AE2<=$E$206","v":false},{"$f":"AF2<=$E$206","v":false},{"$f":"AG2<=$E$206","v":false},{"$f":"AH2<=$E$206","v":false},{"$f":"AI2<=$E$206","v":false},{"$f":"AJ2<=$E$206","v":false},{"$f":"AK2<=$E$206","v":false},{"$f":"AL2<=$E$206","v":false},{"$f":"AM2<=$E$206","v":false},{"$f":"AN2<=$E$206","v":false},{"$f":"AO2<=$E$206","v":false},{"$f":"AP2<=$E$206","v":false},{"$f":"AQ2<=$E$206","v":false},{"$f":"AR2<=$E$206","v":false},{"$f":"AS2<=$E$206","v":false},{"$f":"AT2<=$E$206","v":false},{"$f":"AU2<=$E$206","v":false},{"$f":"AV2<=$E$206","v":false},{"$f":"AW2<=$E$206","v":false},{"$f":"AX2<=$E$206","v":false}]
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[null,"PV CFADS",null,null,{"$f":"NPV(F210,K207:AX207)","v":637593.32700829383},{"$f":"G211","v":354261.44525014824},{"$f":"E208/F208","v":1.799781871713648}]
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[null,"PV of CFADS",null,null,null,{"$f":"H2","v":3.499999999999992E-2},{"$f":"NPV(F210,K202:AX202)","v":953601.52366549475}]
[null,"Debt Outstanding",null,null,null,{"$f":"H2","v":3.499999999999992E-2},{"$f":"J105","v":354261.44525014824}]
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[null,"PV of Revenue"]
[null,"PV of Generation"]
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[null,null,null,"Scenario Number",4]
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[null,null,null,null,"EPC Cost","Development","Insurance","Owner Cost","Total",null,"MWp","Degradation","GWH Gen",null,"Administrative Cost","Insurance Cost","Other Costs","Total"]
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[]
[null,null,null,"Asset Life Yrs",{"$f":"'Sensitivity Factors'!H18","v":25}]
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[null,null,null,"Tax Rate",0.15]
[null,null,null,"Tax Depreciation",{"$f":"1/20","v":0.05}]
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[null,null,null,"Inflation Rate",0.02]
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[]
[null,null,null,"Debt to Capital",null,0.75]
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[null,null,null,"Credit Spread",null,1.4999999999999999E-2]
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[null,null,null,null,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40]
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[null,"Debt"]
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[null,null,"Closing",1500,{"$f":"E14-E15","v":1438.0915613876368},{"$f":"F14-F15","v":1371.7281586515937},1300.7081046720969,1224.8217380126716,1143.8511255137075,1057.5697541106915,965.74221149265009,868.12385520273892,764.46046976883781,654.48791143743017,537.93174006895686,414.50683773721136,283.91701355917155,145.85459426492355,4.5474735088646412E-13,4.7066350816749033E-13,4.8713673095335247E-13,5.0418651653671985E-13,5.2183304461550501E-13,5.4009720117704771E-13,5.590006032182444E-13,5.7856562433088301E-13,5.9881542118246388E-13,6.1977396092385011E-13,6.4146604955618492E-13,6.639173612906514E-13,6.8715446893582424E-13,7.112048753485781E-13,7.3609704598577829E-13,7.618604425952805E-13,7.8852555808611532E-13,8.161239526191294E-13,8.4468829096079891E-13,8.7425238114442683E-13,9.0485121448448174E-13,9.3652100699143868E-13,9.69299242236139E-13,1.0032247157144038E-12,1.038337580764408E-12,1.0746793960911623E-12]
[null,null,"Interest",{"$f":"F2","v":3.5000000000000003E-2},{"$f":"E14*$D$17","v":52.500000000000007},{"$f":"F14*$D$17","v":50.333204648567296},48.010485552805783,45.524783663523394,42.868760830443513,40.034789392979768,37.01494139387421,33.800977402242758,30.384334932095864,26.756116441909327,22.907076900310059,18.827610902413493,14.507739320802399,9.9370954745710058,5.1049107992723251,1.5916157281026246E-14,1.6473222785862163E-14,1.7049785583367339E-14,1.7646528078785195E-14,1.8264156561542676E-14,1.890340204119667E-14,1.9565021112638557E-14,2.0249796851580908E-14,2.0958539741386238E-14,2.1692088632334755E-14,2.2451311734466474E-14,2.3237107645172801E-14,2.405040641275385E-14,2.4892170637200237E-14,2.5763396609502243E-14,2.6665115490834819E-14,2.7598394533014039E-14,2.8564338341669531E-14,2.9564090183627966E-14,3.0598833340054945E-14,3.1669792506956865E-14,3.2778235244700357E-14,3.3925473478264867E-14,3.5112865050004135E-14,3.6341815326754285E-14]
[null,null,"Debt Service",null,{"$f":"E17+E15","v":114.40843861236308},{"$f":"F17+F15","v":116.69660738461033},119.03053953230256,121.4111503229486,123.83937332940758,126.31616079599573,128.84248401191564,131.41933369215397,134.04772036599704,136.72867477331698,139.46324826878333,142.25251323415898,145.09756349884216,147.99951476881901,150.95950506419541,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Repayment Percent ",null,null,{"$f":"E15/$D$16","v":4.1272292408242053E-2},{"$f":"F15/$D$16","v":4.4242268490695361E-2},4.7346702652997841E-2,5.059091110628347E-2,5.3980408332642713E-2,5.7520914268677302E-2,6.1218361745360959E-2,6.507890419327414E-2,6.9108923622600779E-2,7.33150388876051E-2,7.7704114245648853E-2,8.2283268221163663E-2,8.7059882785359852E-2,9.2041612862831995E-2,9.7236396176615392E-2,-1.0610771520684164E-17,-1.0982148523908109E-17,-1.1366523722244893E-17,-1.1764352052523463E-17,-1.2176104374361784E-17,-1.2602268027464446E-17,-1.3043347408425706E-17,-1.3499864567720605E-17,-1.3972359827590825E-17,-1.4461392421556504E-17,-1.4967541156310983E-17,-1.5491405096781868E-17,-1.6033604275169233E-17,-1.6594780424800159E-17,-1.7175597739668161E-17,-1.7776743660556547E-17,-1.8398929688676028E-17,-1.9042892227779688E-17,-1.9709393455751978E-17,-2.0399222226703297E-17,-2.1113195004637911E-17,-2.1852156829800239E-17,-2.2616982318843245E-17,-2.3408576700002756E-17,-2.4227876884502857E-17]

{"sheet":"Sensitivity Factors","index":3,"n_rows":25,"n_cols":16,"rows_kept":25,"cut":false,"hidden":false,"merged":[]}
[null,null,null,null,null,null,null,null,null,null,"Data Table"]
[null,null,null,"Scenario Number",null,1]
[null,null,null,null,null,null,null,null,null,null,"Pre-tax","After-tax","Equity "]
[null,null,null,null,"Cap Exp","O&M","Yield","Life","Int Rate",null,"Project IRR","Project IRR","IRR","DSCR","LLCR","PLCR"]
[null,null,null,null,null,null,null,null,null,null,{"$f":"Model!F2","v":0.11977531693465848},{"$f":"Model!G2","v":0.10687648737361877}]
[null,null,"Base Case",null,1,1,1,25,0.02,1]
[null,null,"Worst Case",null,1.2,1.3,0.6,25,0.03,2]
[null,null,"High Case",null,0.95,0.9,1.2,30,1.4999999999999999E-2,3]
[null,1,{"$f":"TRANSPOSE(E4:I4)&\" worst\"","v":"Cap Exp worst"},null,{"$f":"E7","v":1.2},{"$f":"F$6","v":1},1,25,0.02,4]
[null,2,"O&M worst",null,{"$f":"E$6","v":1},{"$f":"F7","v":1.3},1,25,0.02,5]
[null,3,"Yield worst",null,1,1,{"$f":"G7","v":0.6},25,0.02,6]
[null,4,"Life worst",null,1,1,1,{"$f":"H7","v":25},0.02,7]
[null,1,{"$f":"TRANSPOSE(E4:H4)&\" \"&C8","v":"Cap Exp High Case"},null,{"$f":"E8","v":0.95},1,1,25,0.02,8]
[null,2,"O&M High Case",null,1,{"$f":"F8","v":0.9},1,25,0.02,9]
[null,3,"Yield High Case",null,1,1,{"$f":"G8","v":1.2},25,0.02,10]
[null,4,"Life High Case",null,1,1,1,{"$f":"H8","v":30},0.02,11]
[]
[null,null,{"$f":"INDEX(C6:C16,$F$2)","v":"Base Case"},{"$f":"INDEX(D6:D16,$F$2)","v":0},1,1,1,25,0.02]
[]
[]
[null,null,null,null,null,"High vs Base","Low vs Base"]
[null,null,null,null,"Cap Exp",{"$f":"K13-$K$6","v":0},{"$f":"K9-$K$6","v":0}]
[null,null,null,null,"O&M",{"$f":"K14-$K$6","v":0},{"$f":"K10-$K$6","v":0}]
[null,null,null,null,"Yield",{"$f":"K15-$K$6","v":0},{"$f":"K11-$K$6","v":0}]
[null,null,null,null,"Life",{"$f":"K16-$K$6","v":0},{"$f":"K12-$K$6","v":0}]