Photovoltaic Parks of 275MW in Greece

Created on: 20 Mar 2018 Last updated: 24 Apr 2018
Project Location
Greece
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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Source

BELT AND ROAD ASSOCIATES

Contact

Location
ATHENS, GREECE
Email

George Floras, Managing Partner

gfloras@beltandroadassociates.com
Tel
+306974910050

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