Interest during Construction

Hard Cost
Civil Works (including HM) 2032.11 Rs. Crore
E&M works (including TL) 1687.77 Rs. Crore
Consultancy Charges 0.00 Rs. Crore
Total 3719.88 Rs. Crore

Equity 15%
Loan 85%
Interest Rate 8.50%
Half yearly rate 4.25%

Half Expenditure Equity Equity Loan Loan IDC Closing

Yearly Fund Used Received Factor outstanding

CUMULATIVE DEBT-EQUITY
period Civil E&M Consul. Total loan EQUITY RATIO

1 50.16 0.00 0.00 50.16 614.68 50.16 0.00 0.00 0.00 0.00 50.16 0.00
2 50.16 0.00 0.00 50.16 564.52 50.16 0.00 0.00 0.00 0.00 100.31 0.00
3 100.31 0.00 0.00 100.31 514.37 100.31 0.00 0.00 0.00 0.00 200.62 0.00
4 300.94 42.19 0.00 343.13 414.06 343.13 0.00 0.00 0.00 0.00 543.75 0.00
5 300.94 126.58 0.00 427.52 70.93 70.93 356.59 0.83 7.58 364.16 614.68 0.59
6 300.94 84.39 0.00 385.32 0.00 0.00 385.32 1.00 23.67 773.15 614.68 1.26
7 300.94 210.97 0.00 511.91 0.00 0.00 511.91 1.00 43.74 1328.80 614.68 2.16
8 200.62 421.94 0.00 622.57 0.00 0.00 622.57 1.00 69.70 2021.07 614.68 3.29
9 250.78 421.94 0.00 672.72 0.00 0.00 672.72 1.00 100.19 2793.98 614.68 4.55
10 100.31 168.78 0.00 269.09 0.00 0.00 269.09 1.00 124.46 3187.54 614.68 5.19
 11 76.03 210.97 0.00 287.00 0.00 0.00 287.00 1.00 35.39 3509.93 614.68 5.71
Total 2032.11 1687.77 0.00 3719.88 614.68 3105.20 404.73
Hard Cost 3719.88 Rs Crore EQUITY 618.69 15%
IDC 404.73 Rs Crore LOAN 3505.92 85%
TOTAL 4124.61 Rs Crore TOTAL 4124.61
 BANDHU PUMPED STORAGE PROJECT (900 MW)

Proejct Parameters Project Cost (Rs. Crore) Other Parameters

Installed Capacity (MW) 900 O&M Charges(4Lac/MW)
Peaking Hours 5 Hard cost incl. IDC 4124.61 Escalation of O&M
Annual Design Energy (GWh) 1560.5 Depreciation allowed for 1
Annual Pumping Energy (GWh) 2136 Depreciation recovery at M
Auxiliary Consumption 0.60% Residual Depreciation for
Transformation Losses 0.60% Equity (15%) 618.69 Annual Increment of Pool
Free Power to Home State 0.00% Loan (85%) 3505.92 Maintenance Spares
Net Saleable Energy (GWh) 1541.83 Interest rate on Loan
Annual Energy Generation (GWh) 1642.50 Interest rate on Working C
Cycle Efficiency(Targeted) 76.9% Useful life (years) 35 Return on Equity
Considering 20% @F.C.
RATE=RS 1.10/- with 100%
Pool Cost (Rs/kWh)(Price Level:2016-17) 2.61 E.C. RATE= RS 2.39/- Discounting Rate
Escalation of Off peak Energy Rate 0.00% MAT

Year Out- Interest Return on O&M O&M for Mainte- Working Interest on Off Peak
standing on Loan Front
Deprecia- Equity Charges 1 Month nance capital Working Energy
Loan End Fee Spares capital Cost
tion
@
0.20%
Rs Cr. Rs Cr. On Loan Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr.

1 2 3 4 5 6 7 8 9 10 11 12
1 3505.92 298.00 0.00 194.77 121.91 40.00 3.33 0.00 161.18 15.09 557.47
2 3,311.14 281.45 0.00 194.77 121.91 42.00 3.50 0.00 159.57 14.94 563.04
3 3,116.37 264.89 0.00 194.77 121.91 44.10 3.68 0.00 157.98 14.79 568.67
4 2,921.60 248.34 0.00 194.77 121.91 46.31 3.86 0.00 156.42 14.64 574.36
5 2,726.82 231.78 0.00 194.77 121.91 48.62 4.05 0.00 154.89 14.5 580.10
6 2,532.05 215.22 0.00 194.77 121.91 51.05 4.25 0.00 153.39 14.36 585.90
7 2,337.28 198.67 0.00 194.77 121.91 53.60 4.47 0.00 151.93 14.22 591.76
8 2,142.50 182.11 0.00 194.77 121.91 56.28 4.69 0.00 150.49 14.09 597.68
9 1,947.73 165.56 0.00 194.77 121.91 59.10 4.92 0.00 149.10 13.96 603.66
10 1,752.96 149.00 0.00 194.77 121.91 62.05 5.17 0.00 147.73 13.83 609.69
11 1,558.19 132.45 0.00 194.77 121.91 65.16 5.43 0.00 146.41 13.7 615.79
12 1,363.41 115.89 0.00 194.77 121.91 68.41 5.70 0.00 145.13 13.58 621.95
13 1168.64 99.33 0.00 194.77 121.91 71.83 5.99 0.00 143.88 13.47 628.17
14 973.87 82.78 0.00 194.77 121.91 75.43 6.29 0.00 142.68 13.35 634.45
15 779.09 66.22 0.00 194.77 121.91 79.20 6.60 0.00 141.52 13.25 640.79
16 584.32 49.67 0.00 194.77 121.91 83.16 6.93 0.00 140.40 13.14 647.20
17 389.55 33.11 0.00 194.77 121.91 87.31 7.28 0.00 139.34 13.04 653.67
18 194.77 16.56 0.00 194.77 121.91 91.68 7.64 0.00 138.32 12.95 660.21
19 0.00 0.00 0.00 12.13 121.91 96.26 8.02 0.00 137.35 12.86 666.81
20 0.00 0.00 0.00 12.13 121.91 101.08 8.42 0.00 139.42 13.05 673.48
21 0.00 0.00 0.00 12.13 121.91 106.13 8.84 0.00 141.54 13.25 680.22
22 0.00 0.00 0.00 12.13 121.91 111.44 9.29 0.00 143.72 13.45 687.02
23 0.00 0.00 0.00 12.13 121.91 117.01 9.75 0.00 145.96 13.66 693.89
24 0.00 0.00 0.00 12.13 121.91 122.86 10.24 0.00 148.26 13.88 700.83
25 0.00 0.00 0.00 12.13 121.91 129.00 10.75 0.00 150.63 14.1 707.84
26 0.00 0.00 0.00 12.13 121.91 135.45 11.29 0.00 153.07 14.33 714.91
27 0.00 0.00 0.00 12.13 121.91 142.23 11.85 0.00 155.57 14.56 722.06
28 0.00 0.00 0.00 12.13 121.91 149.34 12.44 0.00 158.15 14.80 729.28
29 0.00 0.00 0.00 12.13 121.91 156.81 13.07 0.00 160.81 15.05 736.58
30 0.00 0.00 0.00 12.13 121.91 164.65 13.72 0.00 163.55 15.31 743.94
31 0.00 0.00 0.00 12.13 121.91 172.88 14.41 0.00 166.37 15.57 751.38
32 0.00 0.00 0.00 12.13 121.91 181.52 15.13 0.00 169.28 15.84 758.90
33 0.00 0.00 0.00 12.13 121.91 190.60 15.88 0.00 172.27 16.12 766.48
34 0.00 0.00 0.00 12.13 121.91 200.13 16.68 0.00 175.37 16.41 774.15
35 0.00 0.00 0.00 12.13 121.91 210.13 17.51 0.00 178.56 16.71 781.89
Parameters
Charges(4Lac/MW) 4Lac/MW
tion of O&M 5.00%
ciation allowed for 18 years 4.72%
ciation recovery at Max rate 90%
ual Depreciation for next 17 years 0.29%
l Increment of Pool Cost/Year 1.00%
enance Spares 0.00%
t rate on Loan 8.50%
t rate on Working Capital 9.36%
on Equity 15.50%

unting Rate 7.51%

21.34%

Total Tariff Discounting Present Day worth of tariff

Annual factor @ Pool Cost /Year
Expenditur 7.63% (with 1%
e Cumulative IRR (18)
Effect/year)
Rs Cr. Rs/kWh Rs/kWh (CAGR Since
2012-13 To
2016-17
13 14 15 16 17 -618.69
1227.25 7.96 1.0000 7.96 2.61 121.91
1218.12 7.90 0.9301 7.35 2.64 121.91
1209.14 7.84 0.8651 6.78 2.66 121.91
1200.33 7.79 0.8047 6.27 2.69 121.91
1191.69 7.73 0.7485 5.79 2.72 121.91
1183.23 7.67 0.6962 5.34 2.74 121.91
1174.94 7.62 0.6475 4.93 2.77 121.91
1166.85 7.57 0.6023 4.56 2.80 121.91
1158.96 7.52 0.5602 4.21 2.83 121.91
1151.27 7.47 0.5211 3.89 2.85 121.91
1143.78 7.42 0.4847 3.60 2.88 121.91
1136.52 7.37 0.4508 3.32 2.91 121.91
1129.49 7.33 0.4193 3.07 2.94 316.69
1122.69 7.28 0.3900 2.84 2.97 316.69
1116.15 7.24 0.3627 2.63 3.00 316.69
1109.85 7.20 0.3374 2.43 3.03 316.69
1103.83 7.16 0.3138 2.25 3.06 316.69
1098.08 7.12 0.2919 2.08 3.09 316.69
 909.98 5.90 0.2715 1.60 3.12 134.04
921.65 5.98 0.2525 1.51 3.15 134.04
933.64 6.06 0.2349 1.42 3.18 134.04
945.95 6.14 0.2185 1.34 3.22 134.04
958.60 6.22 0.2032 1.26 3.25 134.04
971.61 6.30 0.1890 1.19 3.28 134.04
984.98 6.39 0.1758 1.12 3.31 134.04
998.74 6.48 0.1635 1.06 3.35 134.04
1012.89 6.57 0.1521 1.00 3.38 134.04
1027.47 6.66 0.1415 0.94 3.41 134.04
1042.48 6.76 0.1316 0.89 3.45 134.04
1057.94 6.86 0.1224 0.84 3.48 134.04
1073.87 6.96 0.1138 0.79 3.52 134.04
1090.30 7.07 0.1059 0.75 3.55 134.04
1107.25 7.18 0.0985 0.71 3.59 134.04
1124.73 7.29 0.0916 0.67 3.62 134.04
1142.78 7.41 0.0852 0.63 3.66 134.04
13.1778 97.02 21.79%
Levelised Tariff 7.36
 BANDHU PUMPED STORAGE PROJECT (900 MW)

Proejct Parameters Project Cost (Rs. Crore)

Installed Capacity (MW) 900
Peaking Hours 5 Hard cost incl. IDC 4124.61
Annual Energy Generation (GWh) 1642.5
Annual Pumping Energy (GWh) 2136
Auxiliary Consumption 0.60%
Transformation Losses 0.60% Equity (15%) 618.69
Free Power to Home State 0.00% Loan (85%) 3505.92
Net Saleable Energy (GWh) 1623

Cycle Efficiency(Targeted) 76.9% Useful life (years) 35

Considering 20% @F.C.
RATE=RS 1.10/- with 100%
Pool Cost (Rs/kWh)(Price Level:2016-17) 2.61 E.C. RATE= RS 2.39/-
Escalation of Off peak Energy Rate 0.00%

Pool Cost
Year Out- Interest Depre- /Year (with O&M O&M for Mainte- Working Interest on
standing on Loan ciation Front-End 1% Charges 1 Month nance capital Working
Loan Fee @ Cumulative Spares capital
0.20% On Effect/year)
Loan (CAGR Since
2012-13 To
Rs Cr. Rs Cr. Rs Cr. 2016-17 @ Rs Cr. Rs Cr. Rs Cr. Rs Cr. Rs Cr.
0.69%
1 2 3 4 5 6 7 8 9 10 11
1 3483.19 296.07 106.21 0.00 2.61 40.00 3.33 0.00 160.84 15.05
2 3,305.01 280.93 106.21 0.00 2.64 42.00 3.50 0.00 159.47 14.93
3 3,111.69 264.49 106.21 0.00 2.66 44.10 3.68 0.00 157.91 14.78
4 2,901.94 246.67 106.21 0.00 2.69 46.31 3.86 0.00 156.12 14.61
5 2,674.36 227.32 106.21 0.00 2.72 48.62 4.05 0.00 154.09 14.42
6 2,427.44 206.33 106.21 0.00 2.74 51.05 4.25 0.00 151.79 14.21
7 2,159.52 183.56 106.21 0.00 2.77 53.60 4.47 0.00 149.21 13.97
8 1,868.83 158.85 106.21 0.00 2.80 56.28 4.69 0.00 146.31 13.69
9 1,553.44 132.04 106.21 0.00 2.83 59.10 4.92 0.00 143.06 13.39
10 1,211.24 102.96 106.21 0.00 2.85 62.05 5.17 0.00 139.45 13.05
11 839.94 71.40 106.21 0.00 2.88 65.16 5.43 0.00 135.42 12.68
12 437.09 37.15 106.21 0.00 2.91 68.41 5.70 0.00 130.95 12.26
13 0.00 0.00 106.21 0.00 2.94 71.83 5.99 0.00 126.00 11.79
14 0.00 0.00 106.21 0.00 2.97 75.43 6.29 0.00 127.78 11.96
15 0.00 0.00 106.21 0.00 3.00 79.20 6.60 0.00 129.60 12.13
16 0.00 0.00 106.21 0.00 3.03 83.16 6.93 0.00 131.46 12.31
17 0.00 0.00 106.21 0.00 3.06 87.31 7.28 0.00 133.38 12.48
18 0.00 0.00 106.21 0.00 3.09 91.68 7.64 0.00 135.34 12.67
19 0.00 0.00 106.21 0.00 3.12 96.26 8.02 0.00 137.35 12.86
20 0.00 0.00 106.21 0.00 3.15 101.08 8.42 0.00 139.42 13.05
21 0.00 0.00 106.21 0.00 3.18 106.13 8.84 0.00 141.54 13.25
22 0.00 0.00 106.21 0.00 3.22 111.44 9.29 0.00 143.72 13.45
23 0.00 0.00 106.21 0.00 3.25 117.01 9.75 0.00 145.96 13.66
24 0.00 0.00 106.21 0.00 3.28 122.86 10.24 0.00 148.26 13.88
25 0.00 0.00 106.21 0.00 3.31 129.00 10.75 0.00 150.63 14.1
26 0.00 0.00 106.21 0.00 3.35 135.45 11.29 0.00 153.07 14.33
27 0.00 0.00 106.21 0.00 3.38 142.23 11.85 0.00 155.57 14.56
28 0.00 0.00 106.21 0.00 3.41 149.34 12.44 0.00 158.15 14.80
29 0.00 0.00 106.21 0.00 3.45 156.81 13.07 0.00 160.81 15.05
30 0.00 0.00 106.21 0.00 3.48 164.65 13.72 0.00 163.55 15.31
31 0.00 0.00 106.21 0.00 3.52 172.88 14.41 0.00 166.37 15.57
32 0.00 0.00 106.21 0.00 3.55 181.52 15.13 0.00 169.28 15.84
33 0.00 0.00 106.21 0.00 3.59 190.60 15.88 0.00 172.27 16.12
34 0.00 0.00 106.21 0.00 3.62 200.13 16.68 0.00 175.37 16.41
35 0.00 0.00 106.21 0.00 3.66 210.13 17.51 0.00 178.56 16.71
MW)

Other Parameters
O&M Charges(4Lac/MW) 4Lac/MW
Escalation of O&M 5.00%
Depreciation allowed for 12 years 2.575%
Depreciation recovery at Max rate 90%
Residual Depreciation for next 23 years 2.575%
Annual Increment Of Pool Cost/Year 1.00%
Maintenance Spares 0.00%
Interest rate on Loan 8.50%
Interest rate on Working Capital 9.36%
Return on Equity 15.50%

Discounting Rate 9.78%

MAT 21.34%

Off Peak Total Tariff Discounting Present Day worth of tariff

Energy Annual factor @
Cost Expenditure 9.78%

Rs Cr. Rs Cr. Rs/kWh Rs/kWh

12 13 14 15 16
557.47 1017.41 6.27 1.0000 6.27
563.04 1009.74 6.22 0.9109 5.67
568.67 1000.92 6.17 0.8298 5.12
574.36 990.84 6.11 0.7558 4.62
580.10 979.39 6.04 0.6885 4.16
585.90 966.45 5.96 0.6272 3.74
591.76 951.88 5.87 0.5713 3.35
597.68 935.51 5.76 0.5204 3.00
603.66 917.22 5.65 0.4740 2.68
609.69 896.82 5.53 0.4318 2.39
615.79 874.12 5.39 0.3933 2.12
621.95 848.90 5.23 0.3583 1.87
628.17 820.94 5.06 0.3264 1.65
634.45 831.02 5.12 0.2973 1.52
640.79 841.33 5.18 0.2708 1.40
647.20 851.91 5.25 0.2467 1.30
653.67 862.74 5.32 0.2247 1.20
660.21 873.86 5.38 0.2047 1.10
666.81 885.27 5.46 0.1865 1.02
673.48 896.97 5.53 0.1698 0.94
680.22 908.99 5.60 0.1547 0.87
687.02 921.33 5.68 0.1409 0.80
693.89 934.02 5.76 0.1284 0.74
700.83 947.06 5.84 0.1169 0.68
707.84 960.46 5.92 0.1065 0.63
714.91 974.26 6.00 0.0970 0.58
722.06 988.44 6.09 0.0884 0.54
729.28 1003.05 6.18 0.0805 0.50
736.58 1018.09 6.27 0.0733 0.46
743.94 1033.59 6.37 0.0668 0.43
751.38 1049.56 6.47 0.0609 0.39
758.90 1066.02 6.57 0.0554 0.36
766.48 1083.00 6.67 0.0505 0.34
774.15 1100.52 6.78 0.0460 0.31
781.89 1118.61 6.89 0.0419 0.29
10.7963 63.04
Levelised Cost 5.84
 Loan Repayment Schedule

Year Opening Principal Interest EMI Outstanding

1 3505.92 194.77 298.00 492.78 3,311.14
2 3,311.14 194.77 281.45 476.22 3,116.37
3 3,116.37 194.77 264.89 459.66 2,921.60
4 2,921.60 194.77 248.34 443.11 2,726.82
5 2,726.82 194.77 231.78 426.55 2,532.05
6 2,532.05 194.77 215.22 410.00 2,337.28
7 2,337.28 194.77 198.67 393.44 2,142.50
8 2,142.50 194.77 182.11 376.89 1,947.73
9 1,947.73 194.77 165.56 360.33 1,752.96
10 1,752.96 194.77 149.00 343.77 1,558.19
11 1,558.19 194.77 132.45 327.22 1,363.41
12 1,363.41 194.77 115.89 310.66 1,168.64
13 1,168.64 194.77 99.33 294.11 973.87
14 973.87 194.77 82.78 277.55 779.09
15 779.09 194.77 66.22 261.00 584.32
16 584.32 194.77 49.67 244.44 389.55
17 389.55 194.77 33.11 227.88 194.77
18 194.77 194.77 16.56 211.33 (0.00)
4124.6084 3712.1476 206.23 12.131201

4.72222 0.0029412