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
George Floras, Managing Partner
gfloras@beltandroadassociates.comContact Us