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{"sheet":"Notes","index":0,"n_rows":31,"n_cols":3,"rows_kept":31,"cut":false,"hidden":false,"merged":[]}
[]
[null,"Philosophy - Reverse of Sculpting"]
[null,null,"Applies to MRA, negative repayment in sculpting, use of revolving debt, working capital facility"]
[null,null,"Alternative is to Adjust the Capacity Charge"]
[]
[null,null,"Use cash flow adjustments to match the cash flow with the CFADS"]
[]
[null,null,"CFADS can include working capital facilities"]
[null,null,"CFADS can include fees on LC for Debt Service Reserve facility"]
[null,null,"CFADS can include MRA adjustments"]
[]
[null,null,"CFADS can also be defined by bank in other ways"]
[null,null,"Can use cash in reserve to make up CFADS"]
[null,null,"Can use Revolver draws as addition and revolver withdrawls as reduction and interest on revolver as withdrawl"]
[]
[null,null,"Compute Required CFADS"]
[]
[null,null,"1. DSCR x Debt Service  = Required CFADS"]
[]
[null,null,"2. Deficit CFADS = Required CFADS - Actual CFADS   -- Max or zero"]
[null,null,"3. Surplus CFADS = Actual CFADS - Required CFADS -- Max or zero"]
[]
[null,"Modelling Issues"]
[null,null,"Transparency is crucial"]
[null,null,"Presentation of Complex issues with graphs"]
[null,null,"Layout model so you can make effective graphs"]
[null,null,"Use Flags, Check boxes and drop-down boxes and change them"]
[]
[null,null,"Layout CFADS and Equity Cash Flow"]
[]
[null,null,"Review of Target IRR and NPV with Goal Seek"]

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[]
[]
[null,null,null,null,"Capacity Adder Flag","Cash Reserve Flag","Revolving Credit Flag"]
[null,null,"Case without Adjustments",1]
[null,null,"Use Capacity Adder",2]
[null,null,"Use Cash Reserve",3]
[null,null,"Use Revolver",4]
[]
[null,null,{"$f":"INDEX(C5:C8,D10)","v":"Case without Adjustments"},1,{"$f":"D10=2","v":false},{"$f":"D10=D7","v":false},{"$f":"D10=D8","v":false}]

{"sheet":"Model","index":2,"n_rows":182,"n_cols":69,"rows_kept":182,"cut":false,"hidden":false,"merged":[]}
[null,null,null,null,null,null,"Total",null,null,"CCR Computed",null,{"$f":"E31","v":61.894020248191616},null,"PV of CCCR",{"$f":"E61","v":951.4168068297472},null,"Equity IRR"]
[]
[null,"Timing",null,null,null,null,null,null,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41,42,43,44,45,46,47,48,49,50,51,52,53,54,55,56,57,58,59,60]
[null,null,null,"Construction",0,null,null,null,{"$f":"(I3=$E$4)*1","v":1},{"$f":"(J3=$E$4)*1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Operations",35,null,null,null,{"$f":"(AND(NOT(I4),I3<=$E$5))*1","v":0},{"$f":"(AND(NOT(J4),J3<=$E$5))*1","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Operations"]
[null,null,"Capital Expenditures",null,1000,null,null,null,{"$f":"$E$8*I4","v":1000},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$E$8*AO4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Target Equity IRR",null,0.08]
[]
[null,"Debt Financing - No Sculpting"]
[null,null,"Minimum DSCR",null,1.2]
[null,null,"Debt Percent",null,0.8,null,null,{"$f":"SUM(I13:XFD13)","v":800},{"$f":"$E$13*I8*I4","v":800},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$E$13*AO8*AO4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt Tenure",null,20,null,null,null,{"$f":"(AND(I5,I3<=$E$14))*1","v":0},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,{"$f":"(AND(AO5,AO3<=$E$14))*1","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Intrest Rate",null,5.5E-2]
[]
[null,null,"Flat Debt Service (Flat Repayment)",null,false,{"$f":"H13","v":800},{"$f":"PMT(E15,E14,-F17)","v":66.943464027946547},null,{"$f":"$G$17*I14","v":0},{"$f":"$G$17*J14","v":66.943464027946547},66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,66.943464027946547,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayment",null,{"$f":"E17","v":false},{"$f":"H13","v":800},{"$f":"F18/E14","v":40},null,{"$f":"$G$18*I14","v":0},{"$f":"$G$18*J14","v":40},40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayment Applied",null,{"$f":"E18","v":false}]
[]
[null,null,"Debt Balance"]
[null,null,null,"Opening Balance",null,null,null,null,{"$f":"H25","v":0},{"$f":"I25","v":800},760,720,680,640,600,560,520,480,440,400,360,320,280,240,200,160,120,80,40,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add: Draws",null,null,{"$f":"SUM(I23:XFD23)","v":800},null,{"$f":"I13","v":800},{"$f":"J13","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less Repayment",null,null,{"$f":"SUM(I24:XFD24)","v":800},null,{"$f":"I18","v":0},{"$f":"J18","v":40},40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,40,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Closing Balance",null,null,null,null,{"$f":"I22+I23-I24","v":800},{"$f":"J22+J23-J24","v":760},720,680,640,600,560,520,480,440,400,360,320,280,240,200,160,120,80,40,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Interest ",{"$f":"E15","v":5.5E-2},null,null,null,{"$f":"I22*$E$26","v":0},{"$f":"J22*$E$26","v":44},41.8,39.6,37.4,35.200000000000003,33,30.8,28.6,26.4,24.2,22,19.8,17.600000000000001,15.4,13.2,11,8.8000000000000007,6.6,4.4000000000000004,2.2000000000000002,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Total Debt Service",null,null,{"$f":"SUM(I28:XFD28)","v":1262},null,{"$f":"I26+I24","v":0},{"$f":"J26+J24","v":84},81.8,79.599999999999994,77.400000000000006,75.2,73,70.8,68.599999999999994,66.400000000000006,64.2,62,59.8,57.6,55.4,53.2,51,48.8,46.6,44.4,42.2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Deficit and Surplus CFADS"]
[null,null,"Base Flat Capacity Payment",null,{"$f":"ccr","v":61.894020248191616},null,null,null,{"$f":"$E$31*I5","v":0},{"$f":"$E$31*J5","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"1. Required CFADS",null,{"$f":"E12","v":1.2},null,null,null,{"$f":"I28*$E$33","v":0},100.8,98.16,95.52,92.88000000000001,90.24,87.6,84.96,82.32,79.680000000000007,77.040000000000006,74.399999999999991,71.759999999999991,69.12,66.47999999999999,63.84,61.199999999999996,58.559999999999995,55.92,53.279999999999994,50.64,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO28*$E$33","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"2. Difference Required CFADS - CFADS from Capacity Payment",null,null,null,null,null,null,{"$f":"J33-J31","v":38.905979751808381},36.265979751808381,33.62597975180838,30.985979751808394,28.345979751808379,25.705979751808378,23.065979751808378,20.425979751808377,17.785979751808391,15.14597975180839,12.505979751808376,9.8659797518083749,7.2259797518083886,4.5859797518083738,1.9459797518083874,-0.69402024819162023,-3.3340202481916208,-5.9740202481916143,-8.6140202481916219,-11.254020248191615,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,-61.894020248191616,{"$f":"AP33-AP31","v":-61.894020248191616},-61.894020248191616,-61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"3. Deficit CFADS to Meet Debt Service",null,null,null,null,null,null,{"$f":"MAX(J34,0)","v":38.905979751808381},{"$f":"MAX(K34,0)","v":36.265979751808381},33.62597975180838,30.985979751808394,28.345979751808379,25.705979751808378,23.065979751808378,20.425979751808377,17.785979751808391,15.14597975180839,12.505979751808376,9.8659797518083749,7.2259797518083886,4.5859797518083738,1.9459797518083874,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"4. Surplus CFADS for Repayment of Debt",null,null,null,null,null,null,{"$f":"MAX(-J34,0)","v":0},{"$f":"MAX(-K34,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0.69402024819162023,3.3340202481916208,5.9740202481916143,8.6140202481916219,11.254020248191615,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Option 1: Capacity Charge Adjustment to Increase for Deficit Debt Service"]
[null,null,"Base Capacity Charge",null,null,null,null,null,{"$f":"I31","v":0},{"$f":"J31","v":61.894020248191616},{"$f":"K31","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt Service Adder",null,{"$f":"Forms!E10","v":false},null,null,null,{"$f":"I35*$E$40","v":0},{"$f":"J35*$E$40","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO35*$E$40","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Capacity Charge with Debt Service Adder",null,null,null,null,null,{"$f":"I39+I40","v":0},{"$f":"J39+J40","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Starting Equity Cash Flow"]
[null,null,null,"Capactiy Payment with Adder",null,null,null,null,{"$f":"I41","v":0},{"$f":"J41","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Debt Service",null,null,null,null,{"$f":"I28","v":0},84,81.8,79.599999999999994,77.400000000000006,75.2,73,70.8,68.599999999999994,66.400000000000006,64.2,62,59.8,57.6,55.4,53.2,51,48.8,46.6,44.4,42.2,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO28","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Dividends",null,null,null,null,{"$f":"I41-I45","v":0},{"$f":"J41-J45","v":-22.105979751808384},-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity Investment",null,null,null,null,{"$f":"I23-I8","v":-200},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO23-AO8","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Equity Cash Flow",null,null,null,null,{"$f":"I47+I46","v":-200},{"$f":"J47+J46","v":-22.105979751808384},-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Equity IRR",{"$f":"IRR(I49:BQ49)","v":4.7548104578292394E-2}]
[null,null,null,"NPV at Target IRR",{"$f":"E9","v":0.08},{"$f":"NPV(E51,I49:BQ49)","v":-140.1655198445996},"npv"]
[null,null,null,"CCR from Goal Seek",74.882812164223935,"ccr"]
[]
[null,null,"Project IRR"]
[null,null,null,"Cash Flow from Capacity Charge",null,null,null,null,{"$f":"I41","v":0},{"$f":"J41","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Capital Expenditures",null,null,null,null,{"$f":"I8","v":1000},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO8","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]
[null,null,null,"Project Cash Flow",null,null,null,null,{"$f":"I55-I56","v":-1000},{"$f":"J55-J56","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Project IRR",{"$f":"IRR(I57:BQ57)","v":5.1064047665099199E-2}]
[null,null,null,"Fixed Project IRR",{"$f":"E58","v":5.1064047665099199E-2}]
[]
[null,null,null,"NPV of Capacity Charge",{"$f":"NPV(E59,I55:BQ55)","v":951.4168068297472}]
[]
[null,"Option 2: Use of Cash Reserve"]
[null,null,"Include Up-Front Cash for DSCR",null,{"$f":"Forms!F10","v":false}]
[null,null,"Cash Reserve Required",null,null,null,{"$f":"SUM(I65:XFD65)","v":0},null,{"$f":"I35*$E$64","v":0},{"$f":"J35*$E$64","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Accumulated Cash"]
[null,null,null,"Opening Balance",null,null,null,null,{"$f":"H71","v":0},{"$f":"I71","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add Initial Cash",{"$f":"G65","v":0},null,null,null,{"$f":"$E$69*I4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$E$69*AO4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Cash Used",null,null,null,null,{"$f":"I65","v":0},{"$f":"J65","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Closing Balance",null,null,null,null,{"$f":"I68+I69-I70","v":0},{"$f":"J68+J69-J70","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Interest Income"]
[]
[null,null,"Financing of Initial Cash"]
[null,null,null,"Equity Financing",1,{"$f":"E69*$E$75","v":0},null,null,{"$f":"$F$75*I4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"$F$75*AO4","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Financing",{"$f":"1-E75","v":0},{"$f":"G65*E76","v":0},null,null,{"$f":"I69-I75","v":0},{"$f":"J69-J75","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Option 3: Use of Revolver"]
[null,null,"Draws on Revolver",null,{"$f":"Forms!G10","v":false},null,null,null,{"$f":"I35*$E$79","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO35*$E$79","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Available for Repayment - Before Interest",null,null,null,null,null,{"$f":"I36","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0.69402024819162023,3.3340202481916208,5.9740202481916143,8.6140202481916219,11.254020248191615,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO36","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest on Revolver"]
[null,null,"Available for Repayment - After Revolver",null,null,null,null,null,{"$f":"I80-I81","v":0},{"$f":"J80-J81","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0.69402024819162023,3.3340202481916208,5.9740202481916143,8.6140202481916219,11.254020248191615,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Revolver Balance"]
[null,null,null,"Opening Balance",null,null,null,null,{"$f":"H88","v":0},{"$f":"I88","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Add: Draws",null,null,null,null,{"$f":"I79","v":0},{"$f":"J79","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Less: Repayments",null,null,null,null,{"$f":"MIN(I85,I82)","v":0},{"$f":"MIN(J85,J82)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Closing Balance",null,null,null,null,{"$f":"I85+I86-I87","v":0},{"$f":"J85+J86-J87","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Interest"]
[]
[null,"CFADS Balance"]
[null,null,"Capacity Payment without Debt Service Adder",null,null,null,null,null,{"$f":"I39","v":0},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO39","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Debt Service Adder",null,null,null,null,null,{"$f":"I40","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,{"$f":"AO40","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Cash Used",null,null,null,null,null,{"$f":"I70","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,{"$f":"AO70","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Interest Income",null,null,null,null,null,{"$f":"I72","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,{"$f":"AO72","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Revolver Draw",null,null,null,null,null,{"$f":"I86","v":0},{"$f":"J86","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Repayment of Revolver",null,null,null,null,null,{"$f":"-I87","v":0},{"$f":"-J87","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Interest on Revolver",null,null,null,null,null,{"$f":"I89","v":0},{"$f":"J89","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total CFADS",null,null,null,null,null,{"$f":"I92+I93+I94+I95+I96+I97-I98","v":0},{"$f":"J92+J93+J94+J95+J96+J97-J98","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,"Equity Cash Flow"]
[null,null,"CFADS",null,null,null,null,null,{"$f":"I99","v":0},{"$f":"J99","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Debt Service",null,null,null,null,null,{"$f":"I28","v":0},84,81.8,79.599999999999994,77.400000000000006,75.2,73,70.8,68.599999999999994,66.400000000000006,64.2,62,59.8,57.6,55.4,53.2,51,48.8,46.6,44.4,42.2,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO28","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Equity after COD",null,null,null,null,null,{"$f":"I102-I103","v":0},{"$f":"J102-J103","v":-22.105979751808384},-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Equity Investment",null,null,null,null,null,{"$f":"I47","v":-200},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO47","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Equity Invested in Cash",null,null,null,null,null,{"$f":"-I75","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,{"$f":"-AO75","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Equity Cash Flow",null,null,null,null,null,{"$f":"I104+I105+I106","v":-200},{"$f":"J104+J105+J106","v":-22.105979751808384},-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Equity IRR",null,{"$f":"IRR(I107:BQ107)","v":4.7548104578292394E-2},null,null,null,{"$f":"I49","v":-200},{"$f":"J49","v":-22.105979751808384},-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"NPV at Target IRR",null,{"$f":"E9","v":0.08},{"$f":"NPV(E110,I107:BQ107)","v":-140.1655198445996},"npv"]
[null,null,"CCR from Goal Seek",null,61.894020248191616,"ccr"]
[]
[null,null,"DSCR"]
[null,null,null,"Total CFADS",null,null,null,null,{"$f":"I99","v":0},{"$f":"J99","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,"Debt Service",null,null,null,null,{"$f":"I28","v":0},84,81.8,79.599999999999994,77.400000000000006,75.2,73,70.8,68.599999999999994,66.400000000000006,64.2,62,59.8,57.6,55.4,53.2,51,48.8,46.6,44.4,42.2,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO28","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]
[null,null,null,"DSCR",null,null,null,null,{"$f":"IF(I14,I114/I115)","v":false},0.73683357438323349,0.75665061428107117,0.77756306844461831,0.79966434429188127,0.82305877989616505,0.84786329107111802,0.87420932553942965,0.90224519312232687,0.93213885915951222,0.9640813122771279,0.99829064916438093,1.0350170610065488,1.0745489626422156,1.1172205820973216,1.1634214332366843,1.2136082401606199,1.2683200870531071,1.3281978594032535,1.3940094650493609,1.4666829442699434,false,false,false,false,false,false,false,false,false,false,false,{"$f":"IF(AO14,AO114/AO115)","v":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,"Graphs"]
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[]
[null,"Chart 1 - CFADS and Debt Service",null,null,null,null,null,null,{"$f":"IF(I5,I3,NA())","v":{"$error":"#N/A"}},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,{"$f":"IF(AO5,AO3,NA())","v":32},33,34,35,{"$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"},{"$error":"#N/A"},{"$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,"CFADS",null,null,null,null,null,{"$f":"I99","v":0},{"$f":"J99","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Debt Service",null,null,null,null,null,{"$f":"I115","v":0},{"$f":"J115","v":84},81.8,79.599999999999994,77.400000000000006,75.2,73,70.8,68.599999999999994,66.400000000000006,64.2,62,59.8,57.6,55.4,53.2,51,48.8,46.6,44.4,42.2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,{"$f":"J1","v":"CCR Computed"},null,{"$f":"L1","v":61.894020248191616},null,{"$f":"N1","v":"PV of CCCR"},{"$f":"O1","v":951.4168068297472},null,{"$f":"Q1","v":"Equity IRR"},{"$f":"E108","v":4.7548104578292394E-2}]
[]
[null,"Chart 2 - Deficit and Surplus Cash Flow to Meet DSCR",null,null,null,null,null,null,{"$f":"I122","v":{"$error":"#N/A"}},{"$f":"J122","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,{"$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"},{"$error":"#N/A"},{"$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,"Cash Flow Modelled",null,null,null,null,null,{"$f":"I41","v":0},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO41","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Required Cash Flow - DSCR x Debt Service",null,null,null,null,null,{"$f":"I33","v":0},100.8,98.16,95.52,92.88000000000001,90.24,87.6,84.96,82.32,79.680000000000007,77.040000000000006,74.399999999999991,71.759999999999991,69.12,66.47999999999999,63.84,61.199999999999996,58.559999999999995,55.92,53.279999999999994,50.64,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO33","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]
[null,null,"Deficit Cash Flow",null,null,null,null,null,{"$f":"I35","v":0},38.905979751808381,36.265979751808381,33.62597975180838,30.985979751808394,28.345979751808379,25.705979751808378,23.065979751808378,20.425979751808377,17.785979751808391,15.14597975180839,12.505979751808376,9.8659797518083749,7.2259797518083886,4.5859797518083738,1.9459797518083874,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO35","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]
[null,null,"Surplus Cash Flow",null,null,null,null,null,{"$f":"I36","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0.69402024819162023,3.3340202481916208,5.9740202481916143,8.6140202481916219,11.254020248191615,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO36","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Minimum DSCR",null,{"$f":"E12","v":1.2}]
[]
[null,"Chart 3 - Capacity Components",null,null,null,null,null,null,{"$f":"I128","v":{"$error":"#N/A"}},{"$f":"J128","v":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,{"$error":"#N/A"},{"$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"},{"$error":"#N/A"},{"$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"},{"$error":"#N/A"}]
[null,null,"Base Capacity Charge",null,null,null,null,null,{"$f":"I39","v":0},{"$f":"J39","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Capacity Adder",null,null,null,null,null,{"$f":"I40","v":0},{"$f":"J40","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Capacity Charge Components",null,"Base CCR",{"$f":"L1","v":61.894020248191616},"PV of Capacity Payment",null,null,"at",{"$f":"E59","v":5.1064047665099199E-2},"==>",{"$f":"E61","v":951.4168068297472}]
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[null,"Chart 4 - Cash and Revolver",null,null,null,null,null,null,{"$f":"I136","v":{"$error":"#N/A"}},{"$f":"J136","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,{"$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"},{"$error":"#N/A"},{"$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,"Cash Balance",null,null,null,null,null,{"$f":"I71","v":0},{"$f":"J71","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Revolver Balance",null,null,null,null,null,{"$f":"I88","v":0},{"$f":"J88","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"Equity IRR",null,{"$f":"$E$108","v":4.7548104578292394E-2},null,"Capacity Charge",null,{"$f":"$L$1","v":61.894020248191616}]
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[null,"Chart 5 - CFADS Components",null,null,null,null,null,null,{"$f":"I142","v":{"$error":"#N/A"}},{"$f":"J142","v":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,{"$error":"#N/A"},{"$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"},{"$error":"#N/A"},{"$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"},{"$error":"#N/A"}]
[null,null,"Capacity Payment without Debt Service Adder",null,null,null,null,null,{"$f":"I92","v":0},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO92","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Debt Service Adder",null,null,null,null,null,{"$f":"I93","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,{"$f":"AO93","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Cash Used",null,null,null,null,null,{"$f":"I94","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,{"$f":"AO94","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Interest Income",null,null,null,null,null,{"$f":"I95","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,{"$f":"AO95","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Add: Revolver Draw",null,null,null,null,null,{"$f":"I96","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,{"$f":"AO96","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Repayment of Revolver",null,null,null,null,null,{"$f":"I97","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"BC97","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Interest on Revolver",null,null,null,null,null,{"$f":"I98","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"BC98","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total CFADS",null,null,null,null,null,{"$f":"I99","v":0},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,{"$f":"BC99","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,"CFADS Components",null,"Equity IRR",null,{"$f":"$E$108","v":4.7548104578292394E-2},null,"Capacity Charge",null,{"$f":"$L$1","v":61.894020248191616}]
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[null,"Chart 6 - Equity Cash Flow Components",null,null,null,null,null,null,{"$f":"IF(OR(I4,I5),I3,NA())","v":0},{"$f":"IF(OR(J4,J5),J3,NA())","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,{"$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"},{"$error":"#N/A"},{"$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,"CFADS",null,null,null,null,null,{"$f":"I102","v":0},{"$f":"J102","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Debt Service",null,null,null,null,null,{"$f":"-I103","v":0},{"$f":"-J103","v":-84},-81.8,-79.599999999999994,-77.400000000000006,-75.2,-73,-70.8,-68.599999999999994,-66.400000000000006,-64.2,-62,-59.8,-57.6,-55.4,-53.2,-51,-48.8,-46.6,-44.4,-42.2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Equity after COD",null,null,null,null,null,{"$f":"I104","v":0},-22.105979751808384,-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AO104","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Less: Equity Investment",null,null,null,null,null,{"$f":"I105","v":-200},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO105","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]
[null,null,"Less: Equity Invested in Cash",null,null,null,null,null,{"$f":"I106","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AO106","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]
[null,null,"Equity Cash Flow",null,null,null,null,null,{"$f":"I107","v":-200},-22.105979751808384,-19.905979751808381,-17.705979751808378,-15.50597975180839,-13.305979751808387,-11.105979751808384,-8.9059797518083812,-6.7059797518083784,-4.5059797518083897,-2.3059797518083869,-0.10597975180838404,2.0940202481916188,4.2940202481916145,6.4940202481916174,8.6940202481916131,10.894020248191616,13.094020248191619,15.294020248191615,17.494020248191617,19.694020248191613,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,{"$f":"AN107","v":61.894020248191616},61.894020248191616,61.894020248191616,61.894020248191616,61.894020248191616,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
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[null,null,null,"Equity Cash Flow",null,"Equity IRR",null,{"$f":"E108","v":4.7548104578292394E-2}]
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[null,"Chart 7 - DSCR",null,null,null,null,null,null,{"$f":"IF(I14,I3,NA())","v":{"$error":"#N/A"}},{"$f":"IF(J14,J3,NA())","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,{"$error":"#N/A"},{"$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"},{"$error":"#N/A"},{"$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"},{"$error":"#N/A"},{"$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"}]
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[null,null,"Capacity Payment"]