Photovoltaic Parks of 275MW in Greece

Created on: 20 Mar 2018 Last updated: 24 Apr 2018

Project Location: Europe and Central Asia

Primary Industry: Clean Energy

Project Description

LOCATION

Central Greece 24 Units, 192,80 MW

Peloponnese 21 Units, 82,82 MW (Greece Mainland)

TOTAL COST OF INVESTMENT

EPC 181.693.113€

SS-CONNECTION COST 15.407.158€

MISC 4.101.225€

TOTAL COST: 201.201.498€

FINANCIAL PLAN

30% Equity

70% Bank Loan

12 years tenor

2 years construction period

3.8% final interest

6 months grace period

3-months installments

PROJECT DATA

Yield (kWh/kW) 1.650

Production (kWh/year) 454.773.000

FiP (€/kWh) 0,06797

EPC (€/w) 0,6592

ss-Connection cost (€/W) 0,0559

misc (€/W) 0.0149

Total cost of investment (€/W) 0,73

DESCRIPTION OF PROJECT

The purpose of the project is the development and construction of forty-five (45) PV parks in Greece with total capacity of 275,53MW.

District	Units	Power (MW)	Area (Acre)
Ilieia	19	70,44	1.253,50
Voiotia	16	132,10	2.164,50
Larisa	1	26,24	334,70
Korinthos	2	12,34	235,60
Fthiotida	7	34,41	640,60
Total	45	275,53	4.628,90

EQUIPMENT

Engineering according to EN 62446

PID-free modules

Certified by IEC Standard

Central inverters (eff>98%)

Support Structure by Eurocode 1

Earthing system of St/tZn

DC solar cables TUV Type Approved

Plant subsystem and control centre monitoring system

Alarm & CCTV

NATO fencing

OPEX

Total 3.961.386€, 11,64% of net

sales

Land lease 1.382.959€

O&M 1.238.172€

Security 667.897€

General expenses 370.766€

Insurance 301.592€

Adjustment per year

Yield adjustment -0,2%

Land lease 1%

Insurance -1%

Security -0,2%

PROJECT DATA

· Guaranteed revenues through PPA over twenty years

· Satisfying annual energy production

· Grouping of projects in clusters according to geographical distribution

· Independency of external factors (projects with connection to new common substations)

TECHINCAL DATA

Overhead MV grid 46,25km

Underground MV grid 171,78KM

New substations 3 units

FINANCIAL DATA

Assumptions

Payment lag from system operator 6 months

Income tax 29%

Statutory reserve 5%

Dividend tax 15%

Avg of dividends distribution 50%

Land lease 4.700 acres

Contingencies 0,50% of Net Sales

Depreciation method Constant rate

O&M 1.102€/MW

Lease 262€/acres

Insurance 0,15% of EPC

Security 2.200€/MW

General expenses 1.200€/MW

Results & Indexes

CAPEX 201.201.498€

OPEX 3.961.389€

Net Sales 34.043.380€

EBITDA 29.911.774€

EBITDA margin 87,86%

Net profits 12.998.959€

GPR 88,36%

NPR 37,36%

DSCR 1,54

ISCR 17,11

IRR 9,88%

WACC 5,09%

NPV 89.012.620€

Payback period 9 years

Cost of Equity 11,10%

CONTACT DETAILS

George Floras

BELT AND ROAD ASSOCIATES MANAGING PARTNER

email: gfloras@beltandroadassociates.com

skype: gfloras1 WeChat ID: gfloras

tel. +306974910050

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Photovoltaic Parks of 275MW in Greece

Project Description

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