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CAPITAL EXPENDITURE - COMMISIONING OF 1 MWp GRID CONNECTED PV SYSTEM
To Design, supply , deliver , install, testing and commisioning of 1MWp gridconnected PV system and all ancillary works on the land lot ,Kuala Pilah
District, egeri !em"ilan
Brand/Mod! "#an$%$&/Lo$ Un%$ Ra$ 'RM( To$a! Pr%) 'RM(
1 Solar PV Module HANWHA 250Wp HSL-60 4000 820 3,280,000
2 Solar PV stri! i"erter-1#$W S%P 1#000%L-10 50 21,650 1,082,500
3 PV Moitori! S&ste' SMA 1 Lot 8,850 8,850
4 Me()ai(al *or$s Lo(al 1 Lot 1,8#8,500 1,8#8,500
5 +le(tri(al *or$s or . parts Lo(al 1 Lot 1,106,000 1,106,000
6 S&ste' esi! ad .osulta(& *or$s - 1 Lot #0,000 #0,000
# S&ste' testi! ad (o''isioi! report - 1 Lot 50,000 50,000
8 2 &ears operatio ad 'aitea(e pro!ra''e - 1 Lot /(lusi"e -
Lo!isti( all t)e (o'poets to t)e site - Lu'p Su' /(lusi"e -+teded Warrat& or i"erter 20 &ears 2#4,250
TOTAL BIPV SYSTEM PRICE WIT* TAX AND DUTY ' 1 UNITS ( +,+.,1....
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0opra% 0ISS Br2ad
Mon$2!& Opra$%on Co$ - So!ar 1MWp
I$3 Bad Ra$ Un%$ R4 Mon$2!& Yar 1 Yar 5 Yar 6 Yar 7 Yar
To$a!
Sa!ar&
.)ar!e'a 3,000 1 3,000 18,000 36,000 3#,440 38,38 40,45
A((out i(er 1,800 1 1,800 6,000 12,000 12,480 12,# 13,48
eeral Wor$er 1,300 1 1,300 5,400 10,800 11,232 11,681 12,14
2,400 58,800 61,152 63,58 66,142
i(e etal 'ot)l& 500 6,000 6,000 6,000 6,000 6,000
%elep)oe 7ill 100 1,200 1,200 1,200 1,248 1,28 1,350
+le(tri(it& 100 1,200 1,200 1,200 1,248 1,28 1,350
Water 100 1,200 1,200 1,200 1,248 1,28 1,350
%ra"elli! - Petrol, par$i! ad toll 300 3,600 3,600 3,600 3,#44 3,84 4,050
t)er +peses 200 2,400 2,400 2,400 2,46 2,56 2,#00
%otal a(ilit& (ost ,600 ,600 ,600 ,84 10,383 10,#
To$a! Mon$2!& Opra$%on Co$ +,7.. 7,... +7,7.. ++,168 +9,9:1 :5,971
55,612
1,502
1,502
9+:
1,502
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58,50#
3,005
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Opra$%ona! Co$
Yar 8 Yar + Yar : Yar 9 Yar 1. Yar 11 Yar 15 Yar 16 Yar 17 Yar 1 Yar 18 Yar 1+ Yar 1: Yar 1
42,115 43,800 45,551 4#,3#4 4,268 51,23 53,28 55,420 5#,63# 5,43 62,340 64,834 6#,42# #0,124
14,038 14,600 15,184 15,#1 16,423 1#,080 1#,#63 18,4#3 1,212 1,81 20,#80 21,611 22,4#6 23,3#512,634 13,140 13,665 14,212 14,#81 15,3#2 15,8# 16,626 1#,21 1#,83 18,#02 1,450 20,228 21,03#
68,#88 #1,53 #4,401 ##,3## 80,4#2 83,61 8#,038 0,520 4,141 #,06 101,823 105,85 110,131 114,53#
6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000
1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#
1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#
1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#
4,211 4,380 4,555 4,#3# 4,2# 5,124 5,32 5,542 5,#64 5,4 6,234 6,483 6,#43 #,012
2,808 2,20 3,03# 3,158 3,285 3,416 3,553 3,65 3,842 3,6 4,156 4,322 4,45 4,6#5
11,231 11,680 12,14# 12,633 13,138 13,664 14,210 14,## 15,3#0 15,85 16,624 1#,28 1#,81 18,#00
:8,.1: :9,519 95,7: 98,.1. 99,81. 1.6,6 1.+,579 111,599 11,11 119,:91 157,77+ 159,1: 167,115 169,56
6#5,38#
13,#83
13,#83
9+:
13,#83
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41,350
2#,56#
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Yar 5. Yar 51
#2,2 #5,84#
24,310 25,28221,8# 22,#54
11,118 123,883
6,000 6,000
2,431 2,528
2,431 2,528
2,431 2,528
#,23 #,585
4,862 5,056
1,448 20,226
177,88 1.,1.:
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C
5.17
PRE-OPERATING COST 2016
Yar . Yar 1
In
A"era!e Sales utput - 1MWp 0 1,342,548
eud ro' %eder 7od 0,000
eud ro' Peror'a(e 7od 200,000
Proposed Loa ro' S;M #,800,000
. 'A( +,:9.,... 1,75,7:
O#$F!o;
+P. (ost #,525,000 0
PSS (ost to %N7 20,000 0
%eder
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Loa epa&'et to S;M - Pri(ipal Portio 0 162,50
To$a! E>pn 'B( ... 9,878,. 855,761
Ba!an) )/< 'A(- 'B( ... -1,+8,. 95.,11+
M t)ousad -1#5# 20
A))#3#!a$%? Ca2
M t)ousad -1#5# -836
/ 18?
@derl&i! Assu'ptios
1 Loa *ill
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0opra% 0ISS Br2ad
2 F!o; For T2 Yr Endd 5.18 - 5.68
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340,00 361,26 384,24 40#,4 433,110 45,824
1,.81,.+1 1,.8+,7. 1,.+6,995 1,.:.,:76 1,.:+,98: 1,.9,6++
58:,.5 57:,595 55:,5:. 5.:,..6 1:+,76 188,81:
268 248 228 208 18# 16#
-8:,6:1 -65.,.:9 -91,:1. 118,196 6.6,87+ 7+.,587
-568 -320 -2 116 304 4#0
18?
Aual .as)lo*
6 7 8 9 10 11 12 1) 14 15 16 17 18 19 20 21 22
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2023 2024 2025 2026 202# 2028
Yar : Yar 9 Yar 1. Yar 11 Yar 15 Yar 16
1,248,5#0 1,221,#1 1,208,23 1,14,868 1,181,442 1,181,442
1,57:,+. 1,551,+19 1,5.:,596 1,197,:8: 1,1:1,775 1,1:1,775
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
80,472 8),691 87,0)8 90,520 94,141 97,906
1),1)8 1),664 14,210 14,779 15,)70 15,985
8,211 8,540 8,881 9,2)7 9,606 9,990
985)7 102478 106578 110841 115274 119885
75,250 75,250 75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625 )7625 )7625
301,665 2#1,555 23,588 205,64 16,61# 131,362
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488,185 518,25 550,262 584,201 620,233 658,488
1,1.6,.:6 1,111,.9: 1,119,766 1,15:,1.1 1,16+,118 1,178,795
17,7:+ 11.,851 ::,:8. 88,+8+ 77,658 67,9.
145 111 8 6# 44 35
81,+1 +58,6+5 :1,565 ::1,999 958,65 981,5+
616 #26 815 882 26 61
18?
1 2 ) 4 5 6 7 8 9 10 11
*)000
*2000
*1000
0
1000
2000
)000
4000
5000
6000
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202 2030 2031 2032 2033 2034 2035 2036
Yar17 Yar 1 Yar 18 Yar 1+ Yar 1: Yar 19 Yar 5. Yar 51
1,168,01# 1,154,51 1,141,166 1,12#,#40 1,114,315 1,100,88 1,08#,464 1,0#5,038
1,18:,.1+ 1,17,91 1,171,188 1,15+,+7. 1,117,61 1,1..,::9 1,.:+,787 1,.+,.6:
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
0 0 0 0 0 0 0 0
101,82) 105,895 110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),992
16,624 17,289 17,981 18,700 19,448 20,226 21,0)5 21,876
10,)90 10,806 11,2)8 11,687 12,155 12,641 1),147 1),67)
124681 129668 1)4855 140249 145859 15169) 157761 164071
75,250 75,250 75,250 75,250 75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625 )7625 )7625 )7625 )7625
0,#48 4#,62 6,820 0 0 0 0 0
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6,102 #42,221 388,105 0 0 0 0 0
1,18,575 1,188,6:6 +:5,..7 69:,.7: 7.9,7 751,61: 766,8 778,7:+
11,++ -11,+95 69,185 +59,895 +.7,:8. 8+9,+1 86,:.9 85:,1
12 -12 35 #30 #05 680 654 62
9+6,.. 981,5: 1,65.,719 5,..,115 5,+7,9+5 6,767,76 7,.::,65 7,+18,9.6
#3 61 1320 2050 2#55 3435 4088 4#1#
.u'ulati"e .as)lo*
12 1) 14 15 16 17 18 19 20 21 22
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5.17
In
A"era!e Sales utput - 1MWp
eud ro' %eder 7od
Proposed Loa ro' S;M
. 'A(
O#$F!o;
+P. (ost
PSS (ost to %N7
%eder pn 'B( ...
Ba!an) )/< 'A(- 'B( ...
M t)ousad
A))#3#!a$%? Ca2
M t)ousad
/ 6?
@derl&i! Assu'ptios
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1 Loa *ill
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0opra% 0ISS Br2ad
Ca2 F!o; For T2 Yr Endd 5.18 - 5.6
Yar W%$2 F%nan)%n=
PRE-OPERATING COST 2016 201# 2018
Yar . Yar 1 Yar 5 Yar 6
0 1,342,548 1,32,123 1,315,6#
0,000
8,525,110
:,81,11. 1,675,7: 1,659,156 1,61,89+
8,525,110 0 0 0
20,000 0 0 0
100,000 0 0 0
200,000
130,000 0 0 0
4,00 0 0 0
110,000 0 0
1,400,000 0 0 0
58,800 61,152 6),598 66,1429,600 9,984 10,)8) 10,799
6,000 6,000 6,000 6,000
72000 74880 77875 80990
85,251 85,251 85,251 85,251
)7625 )7625
0 24,81 4#5,11 441,811
0 331,532 568,341 568,341
1.,+88,881 :86,89. 1,657,9: 1,598,99
-5,11,1 7+:,:: 7,16: 1:,+6:
-2152 4# 4 1
-5,11,1 -1,8+5,896 -1,88:, -1,879,:1+
-2152 -16#3 -166 -1650
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1 2 ) 4 5 6 7 8 9 10 11 12 1) 14 15 16 17 18 1
*2000
*1500
*1000
*500
0
500
1000
1500
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20/97
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20 21 22
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2023 2024 2025 2026
Yar : Yar 9 Yar 1. Yar 11
1,248,5#0 1,221,#1 1,208,23 1,14,868
1,57:,+. 1,551,+19 1,5.:,596 1,197,:8:
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
1#1,8#5
0 0 0 0
80,472 8),691 87,0)8 90,5201),1)8 1),664 14,210 14,779
6,000 6,000 6,000 6,000
985)7 102478 106578 110841
85,251 85,251 85,251 85,251
)7625 )7625 )7625 )7625
2#1,30 23#,208 203,108 16,00#
568,341 568,341 568,341 568,341
1,18.,8+6 1,167,5: 1,5:.,.58 1,.:5,687
:+,:9+ :+,781 -+1,+66 115,.7
88 8# -#2 113
-1,7:6,78 -1,698,..7 -1,78+,+6+ -1,6,566
-1483 -136 -1468 -1355
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202# 2028 202 2030
Yar 15 Yar 16 Yar17 Yar 1
1,181,442 1,181,442 1,168,01# 1,154,51
1,1:1,775 1,1:1,775 1,18:,.1+ 1,17,91
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
94,141 97,906 101,82) 105,89515,)70 15,985 16,624 17,289
6,000 6,000 6,000 6,000
115274 119885 124681 129668
85,251 85,251 85,251 85,251
)7625 )7625 )7625 )7625
134,0# 100,80# 66,#06 32,606
568,341 568,341 568,341 568,341
1,.8,9.9 1,.61,:.. 1,..+,.. 9:5,8+
157,66 179,875 18.,98+ 1+1,918
125 150 161 1#2
-1,56.,899 -1,.:1,.+ -95.,.9. -+7:,1+7
-1231 -1081 -20 -#48
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1 2 ) 4 5 6 7 8 9 10 11 12 1) 14 15 16 17 18 1
*)000
*2000
*1000
0
1000
2000
)000
4000
5000
6000
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2031 2032 2033 2034 2035 2036
Yar 18 Yar 1+ Yar 1: Yar 19 Yar 5. Yar 51
1,141,166 1,12#,#40 1,114,315 1,100,88 1,08#,464 1,0#5,038
1,171,188 1,15+,+7. 1,117,61 1,1..,::9 1,.:+,787 1,.+,.6:
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),99217,981 18,700 19,448 20,226 21,0)5 21,876
6,000 6,000 6,000 6,000 6,000 6,000
1)4855 140249 145859 15169) 157761 164071
85,251 85,251 85,251 85,251 85,251 85,251
)7625 )7625 )7625 )7625 )7625 )7625
3,511 0 0 0 0 0
236,80 0 0 0 0 0
865,186 7.5,681 716,6.1 757,8+: 768,1. 77:,:1
.9,..6 +5,6+9 +.1,.17 8+8,511 8.,97 858,556
50 #25 #01 6#6 651 626
-569,1+. 7:8,5.: 1,1:+,555 1,:86,767 5,17,6:: 6,17.,811
-23 486 118# 1863 2514 3141
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20 21 22
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SPV Co 'XY@ Sdn B2d(
Propn Err.9 Err.9 Err.9 Err.9
Pro
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Err.9 Err.9 Err.9 Err.9
Pro
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Yar
1,315,6#
6,81#
8,:1+
1,6.:,::.
11,680
#,300
8#,5
1,350
42,323
#5,000 +rr50
43,16
Err.9
Err.9
+rr50
+rr50
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Err.9
Err.9
Err.9
Err.9
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8)6,4))+ 4)%
568,)81+ 29%
)20,089+ 17%
91,810+ 5%116,19)+ 6%
Net Cash Flow of the project from year 2015-2036
ATTRIBUTABLE PROFIT TO RELEVANT
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PARTIES
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1 2 ) 4 5
0
2
4
6
8
10
12
Profit Sharing :
KISS
PROFIT BEFORE TAX FROM 2015-2019
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t er art es
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Assumption
nit
I-- #&ost .nance &ost ta/(
a&acity
Project Cost
PSS (ost to %N7
ener 3on -M
eicles -M
Initial -M
:an -M
onstr"ction commencement ;ear
&eration commencement ;ear
P!"man&oices -M
!M -M
otal -M=yearly
ins"rance #0$5% of &ro'ect cost( -M
escalation &$a$ %
ro'ect life year
Financin#
:oan -M
Interest on ?orro
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3ase ase
ase 1 ase 2 ase )
18% 6%
1 1 1
7,525,000 8,525,110 7,750,100
20,000 20,000 20,000
100,000 100,000 100,000
110,000 110,000 110,000
49,900 49,900 49,900
1,400,000 1,400,000 1,400,000
7,755,001
58,800 58,800 58,800
9,600 9,600 9,600
6,000 6,000 6,000
72000 72000 72000
75,250 85,251 77,501
221,650 2)1,651 22),901
)7625 42626 )8751
4 4 4
21 21 21
7,800,000 8,525,110 10,000,000
4 4 6
year 1 year 1 year 1
0 0 0
15 15 1515 15 15
120000 120000 120000
yment of &rinci&le
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Interest 6% Montly
otal loan 7,800,000 BBB
Case 1 % 2 ;ear y1
2014 2015 2016
re*&s 0 1 2
:oan ra
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3alance ra
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cto?er #interest( #50,959( #48,411( #45,014(
3alance raem?er #interest( #49,)15( #46,575( #4),288(
3alance ra
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y2 y) y4 y5 y6 y7 y8
2017 2018 2019 2020 2021 2022 202)
) 4 5 6 7 8 9
BBB BBB BBB BBB BBB BBB BBB
#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(
#4)5,4)2( #404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(
0 0 0 0 0 0 0
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)8,202( #)5,552( #)2,902( #)0,25)( #27,60)( #24,95)( #22,)0)(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)4,)06( #)1,912( #29,519( #27,125( #24,7)2( #22,))9( #19,945(BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)7,761( #)5,111( #)2,461( #29,811( #27,161( #24,511( #21,861(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)6,)29( #)),764( #)1,200( #28,6)6( #26,071( #2),507( #20,942(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)7,)19( #)4,669( #)2,019( #29,)69( #26,719( #24,070( #21,420(BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)5,901( #)),))7( #)0,77)( #28,208( #25,644( #2),079( #20,515(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)6,877( #)4,227( #)1,578( #28,928( #26,278( #2),628( #20,978(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)6,656( #)4,007( #)1,)57( #28,707( #26,057( #2),407( #20,757(
BBB BBB BBB BBB BBB BBB BBB#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)5,260( #)2,696( #)0,1)2( #27,567( #25,00)( #22,4)8( #19,874(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)6,215( #)),565( #)0,915( #28,265( #25,615( #22,965( #20,)16(
BBB BBB BBB BBB BBB BBB BBB
#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)4,8))( #)2,268( #29,704( #27,140( #24,575( #22,011( #19,447(
BBB BBB BBB BBB BBB BBB BBB#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(
#)5,77)( #)),12)( #)0,47)( #27,824( #25,174( #22,524( #19,874(
-
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BBB BBB BBB BBB BBB BBB BBB
) 4 5 6 7 8 9
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#666,667( #666,667( #666,667( #666,667( #666,667( #666,667( #666,667(
#501,580( #461,580( #421,580( #)81,580( #)41,580( #)01,580( #261,580(
0 0 0 0 0 0 0
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#44,164( #40,767( #)7,)70( #)),97)( #)0,575( #27,178( #2),781(
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#)9,6)5( #)6,566( #)),498( #)0,429( #27,)61( #24,292( #21,224(
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#41,616( #)8,219( #)4,822( #)1,425( #28,027( #24,6)0( #21,2))(
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BBB BBB BBB BBB BBB BBB BBB
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y9 y10 y11 y12 y1) y14 y15
2024 2025 2026 2027 2028 2029 20)0
10 11 12 1) 14 15 16
BBB BBB BBB BBB BBB BBB 7)6,667
#520,000( #520,000( #520,000( #520,000( #520,000( BBB BBB
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BBB BBB BBB BBB BBB 7)6,667 216,667
10 11 12 1) 14 15 16
BBB BBB BBB BBB BBB 666,667 0
#666,667( #666,667( #666,667( #666,667( #666,667( BBB 0
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#17,8)6( #14,4)8( #11,041( #7,644( #4,247( #849(
BBB BBB BBB BBB 777,778 111,111
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y16
20)1 20)2 20)) 20)4 20)5
17 18 19 20 21
216,667 0 0 0 0
BBB 0 0 0 0
#),21)( 0 0 0 0
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0
#0(
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17 18 19 20 21
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
0 0 0 0 0
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Interest 6% Montly
otal loan 8,525,110 BBB
Case 2 ;ear y1 y2
2014 2015 2016 2017
re*&s 0 1 2 )
:oan ra
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3alance ra
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"g"st #Interest( #50,959( #48,977( #45,580( #42,18)(
3alance ra
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y) y4 y5 y6 y7 y8 y9
2018 2019 2020 2021 2022 202) 2024
4 5 6 7 8 9 10
BBB BBB BBB BBB BBB BBB BBB
#568,)41( #568,)41( #568,)41( #568,)41( #568,)41( #568,)41( #568,)41(#441,811( #407,710( #)7),610( #))9,510( #)05,409( #271,)09( #2)7,208(
0 0 0 0 0 0 0
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#)5,268( #)2,465( #29,66)( #26,860( #24,057( #21,254( #18,452(
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BBB BBB BBB BBB BBB BBB BBB
#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(
#)6,20)( #)),)06( #)0,410( #27,514( #24,618( #21,722( #18,825(
BBB BBB BBB BBB BBB BBB BBB
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0 0 0 0 0 0 0
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#40,767( #)7,)70( #)),97)( #)0,575( #27,178( #2),781( #20,)84(
BBB BBB BBB BBB BBB BBB BBB
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#)6,566( #)),498( #)0,429( #27,)61( #24,292( #21,224( #18,155(BBB BBB BBB BBB BBB BBB BBB
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#)8,6)0( #)5,)42( #)2,055( #28,767( #25,479( #22,192( #18,904(
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#)9,6)5( #)6,2)7( #)2,840( #29,44)( #26,046( #22,648( #19,251(
BBB BBB BBB BBB BBB BBB BBB#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(
#)8,082( #)4,795( #)1,507( #28,219( #24,9)2( #21,644( #18,)56(
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y10 y11 y12 y1) y14 y15 y16
2025 2026 2027 2028 2029 20)0 20)1 20)2
11 12 1) 14 15 16 17 18
BBB BBB BBB BBB BBB 805,149 2)6,809 0
#568,)41( #568,)41( #568,)41( #568,)41( BBB BBB BBB 0#20),108( #169,007( #1)4,907( #100,807( #66,706( #)2,606( #),511( 0
0 0 0 0 0 0 0 0
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BBB BBB BBB BBB BBB 757,788 189,447
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#16,568( #1),952( #11,))6( #8,720( #6,104( #),488( #872(
BBB BBB BBB BBB BBB 710,426 142,085
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#16,817( #14,014( #11,211( #8,408( #5,606( #2,80)( #0(
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BBB BBB BBB BBB 994,596 426,256
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BBB BBB BBB BBB 852,511 284,170
#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(
#15,929( #1),0))( #10,1)7( #7,241( #4,)44( #1,448(
BBB BBB BBB BBB 805,149 2)6,809
11 12 1) 14 15 16 17 18
BBB BBB BBB BBB 666,667 0 0 0
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BBB BBB BBB BBB 500,000
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BBB BBB BBB 944,444 277,778
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#15,005( #11,607( #8,210( #4,81)( #1,416(
BBB BBB BBB 888,889 222,222
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-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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19 20 21
0 0 0
0 0 00 0 0
0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
60/97
19 20 21
0 0 0
0 0 0
0 0 0
0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
61/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
62/97
Interest 6% Montly
otal loan 9,666,550 BBB
Case 1 % 2 ;ear y1 y2
2014 2015 2016 2017
re*&s 0 1 2 )
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8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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y) y4 y5 y6 y7 y8 y9
2018 2019 2020 2021 2022 202) 2024
4 5 6 7 8 9 10
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#)9,990( #)6,812( #)),6)4( #)0,456( #27,278( #24,100( #20,922(
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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BBB BBB BBB BBB BBB BBB BBB
#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(
#41,050( #)7,766( #)4,482( #)1,198( #27,914( #24,6)0( #21,)46(
BBB BBB BBB BBB BBB BBB BBB
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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y10 y11 y12 y1) y14 y15 y16
2025 2026 2027 2028 2029 20)0 20)1 20)2
11 12 1) 14 15 16 17 18
BBB BBB BBB BBB BBB 912,952 268,515 0
#644,4)7( #644,4)7( #644,4)7( #644,4)7( BBB BBB BBB 0#2)0,)02( #191,6)6( #152,970( #114,)04( #75,6)7( #)6,971( #),981( 0
0 0 0 0 0 0 0 0
BBB BBB BBB BBB BBB 912,952 268,515
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#21,072( #17,788( #14,504( #11,220( #7,9)6( #4,652( #1,)68(
BBB BBB BBB BBB BBB 859,249 214,812
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#18,786( #15,820( #12,85)( #9,887( #6,921( #),955( #989(
BBB BBB BBB BBB BBB 805,546 161,109
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BBB BBB BBB BBB BBB 429,624
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BBB BBB BBB BBB BBB )75,921
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#17,744( #14,566( #11,)88( #8,210( #5,0)2( #1,854(
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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BBB BBB BBB BBB 966,655 )22,218
#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(
#18,062( #14,778( #11,494( #8,210( #4,926( #1,642(
BBB BBB BBB BBB 912,952 268,515
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
68/97
20)) 20)4 20)5
19 20 21
0 0 0
0 0 00 0 0
0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
69/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
70/97
2014 2015 2016 201# 2018
0 1 2 ) 4
e"eue 0 0 1258644 1258644 1258644
P+> -45,000 -#4,400 -##,136 -#,81
KISS Management -864000 -864000 -864000 -864000 -864000
.AP+> -#6254#3 0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
71/97
201 2020 2021 2022 2023 2024 2025 2026
5 6 7 8 9 10 11 12
1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644
-82,41 -86,018 -8,21 -2,548 -6,010 -,610 -103,355 -10#,24
-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000
0 0 0 0 0 0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
72/97
202# 2028 202 2030 2031 2032 2033 2034
1) 14 15 16 17 18 19 20
1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644
-111,2 -115,511 -11,81 -124,44# -12,185 -134,112 -13,236 -144,566
-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000
0 0 0 0 0 0 0 0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
73/97
2035
21
1258644
-150,108
-864000
0
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
74/97
ase 1 2015 2016 2017
;ear 0 1 2 )
-e>en"e 0$00 0 1,258,644 1,258,644
#146,400( #146,400( #152,256( #2)0,516(
Ins"rance #)7625( #)7,776( #)7,927( #)8,078(
rrA509 0 0 0
peratin# cash&ow rrA509 #184,176( 1,068,461 990,050
Net cash&ow rrA509 #184176( 1068461 990050
:oan #ra
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
75/97
2018 2019 2020 2021 2022 202)
4 5 6 7 8 9
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#2)9,7)7( #249,)26( #259,299( #269,671( #280,458( #291,676(
#)8,2)1( #)8,)84( #)8,5)7( #)8,691( #)8,846( #)9,001(
0 0 0 0 0 0
980,677 970,9)4 960,808 950,282 9)9,)40 927,966
980677 9709)4 960808 950282 9)9)40 927966
#404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(
#520,000( #520,000( #520,000( #520,000( #520,000( #520,000(
0 0 0 0 0 0
56444 77902 98975 119649 1)9908 1597)4
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
76/97
2024 2025 2026 2027 2028 2029 20)0
10 11 12 1) 14 15 16
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#)0),)4)( #)15,477( #)28,096( #)41,220( #)54,869( #)69,064( #)8),826(
#)9,157( #)9,)14( #)9,471( #)9,629( #)9,788( #)9,947( #40,107(
0 0 0 0 0 0 0
916,14) 90),85) 891,077 877,795 86),988 849,6)4 8)4,711
91614) 90)85) 891077 877795 86)988 8496)4 8)4711
#217,0)2( #185,8)2( #154,6)2( #12),4)2( #92,2)2( #61,0)2( #29,8)2(
#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(
0 0 0 0 0 0 0
179111 198021 216444 2)4)6) 251755 268601 284879
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
77/97
20)1 20)2 20)) 20)4 20)5
17 18 19 20 21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#)99,179( #415,146( #4)1,752( #449,022( #466,98)(
#40,267( #40,428( #40,590( #40,752( #40,915(
0 0 0 0 0
819,198 80),070 786,)02 768,870 750,746
819198 80)070 786)02 768870 750746
#),21)( 0 0 0 0
#216,667( 0 0 0 0
0 0 0 0 0
599)19 80)070 786)02 768870 750746
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
78/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
79/97
4 5 6 7 8 9
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#260,576( #270,999( #281,8)9( #29),11)( #)04,8)7( #)17,0)1(
0 0 0 0 0 0
998,068 987,645 976,805 965,5)1 95),807 941,61)#249,517( #246,911( #244,201( #241,)8)( #2)8,452( #2)5,40)(
748551 7407)4 7)2604 724149 715)55 706210
#404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(
#520,000( #520,000( #520,000( #520,000( #520,000( #520,000(
0 0 0 0 0 0101058 9)258 85458 77658 69858 62058
#7462)( #59041( #4)770( #28826( #14219( )6
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
80/97
10 11 12 1) 14 15 16
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#)29,712( #)42,900( #)56,616( #)70,881( #)85,716( #401,145( #417,191(
0 0 0 0 0 0 0
928,9)2 915,744 902,028 887,76) 872,928 857,499 841,45)#2)2,2))( #228,9)6( #225,507( #221,941( #218,2)2( #214,)75( #210,)6)(
696699 686808 676521 665822 654696 64)124 6)1090
#217,0)2( #185,8)2( #154,6)2( #12),4)2( #92,2)2( #61,0)2( #29,8)2(
#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(
0 0 0 0 0 0 054258 46458 )8658 )0858 2)058 15258 7458
1)925 274)4 40547 5)248 65522 77)50 88716
-
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81/97
17 18 19 20 21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#4)),878( #451,2))( #469,28)( #488,054( #507,576(
0 0 0 0 0
824,766 807,411 789,)61 770,590 751,068#206,191( #201,85)( #197,)40( #192,648( #187,767(
618574 605558 592021 57794) 56))01
#),21)( 0 0 0 0
#216,667( 0 0 0 0
0 0 0 0 080) 0 0 0 0
)99498 605558 592021 57794) 56))01
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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ase )
;ear 0 1 2
-e>en"e 0$00 0 1,258,644
#22)901( #22),901( #2)2,857(
rrA509 0 0
peratin# cash&ow rrA509 #22),901( 1,025,787'a( 25% rrA509 0 #256,447(
Net cash&ow rrA509 #22)901( 769)40
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) 4 5 6 7 8
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#242,171( #251,858( #261,9))( #272,410( #28),)06( #294,6)8(
0 0 0 0 0 0
1,016,47) 1,006,786 996,711 986,2)4 975,))8 964,006#254,118( #251,696( #249,178( #246,559( #24),8)4( #241,001(
762)55 755089 7475)4 7)9676 7)150) 72)004
#501580( #461580( #421580( #)81580( #)41580( #)01580(
#666667( #666667( #666667( #666667( #666667( #666667(
0 0 0 0 0 0125)95 115)95 105)95 95)95 85)95 75)95
#280497( #257762( #2)5)18( #21)176( #191)48( #169847(
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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9 10 11 12 1) 14 15
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#)06,424( #)18,681( #))1,428( #)44,685( #)58,47)( #)72,812( #)87,724(
0 0 0 0 0 0 0
952,220 9)9,96) 927,216 91),959 900,171 885,8)2 870,920#2)8,055( #2)4,991( #2)1,804( #228,490( #225,04)( #221,458( #217,7)0(
714165 704972 695412 685469 675128 664)74 65)190
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#666667( #666667( #666667( #666667( #666667( #666667( #666667(
0 0 0 0 0 0 065)95 55)95 45)95 )5)95 25)95 15)95 5)95
#148687( #127879( #107440( #87)8)( #6772)( #48477( #29662(
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
85/97
16 17 18 19 20 21
1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644
#40),2))( #419,)62( #4)6,1)7( #45),582( #471,726( #490,595(
0 0 0 0 0 0
855,411 8)9,282 822,507 805,062 786,918 768,049#21),85)( #209,820( #205,627( #201,265( #196,7)0( #192,012(
641558 629461 616880 60)796 590189 5760)7
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 00 0 0 0 0 0
641558 629461 616880 60)796 590189 5760)7
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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)n&ow
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-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
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nerlying ss"m&tions A
1 :an :ease cost
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
88/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
89/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
90/97
.operasi .)// ,erha
he er !ne 2016 - 2036 for 1p
2019 2020 2021 2022
ear 8 ear 5 ear 6 ear :
1,)02,272 1,288,846 1,275,421 1,261,995
1730272:2 172997986 172:57821 1726175
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
1)7,500
0 0 0 0
68,788 71,5)9 74,401 77,)7711,2)1 11,680 12,147 12,6))
7,019 7,)00 7,592 7,896
84,2)0 87,599 91,10) 94,747
75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625
2987182 829783 297119 305752:
170197130 9607353 ::7303 567869
#500,280( #470,76)( #4)9,424( #406,15)(
*478,582 *508,100 *5)9,4)8 *572,709
)9,268 *118,509 *1,559 *22,)95
721,626 60),117 601,558 579,164
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
91/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
92/97
202) 2024 2025 2026
ear 9 ear ear 10 ear 11
1,248,570 1,221,719 1,208,29) 1,194,868
1728975:0 172217:1 17209723 17187969
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
171,875
0 0 0 0
80,472 8),691 87,0)8 90,5201),1)8 1),664 14,210 14,779
8,211 8,540 8,881 9,2)7
98,5)7 102,478 106,578 110,841
75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625
3137238 3217289 5017859 3397251
357336 0078:1 :067935 956761:
#)70,829( #))),)27( #29),512( #251,241(
*608,0)) *645,5)5 *685,)50 *727,621
*4),526 *78,)91 *272,027 *122,245
5)5,6)8 457,247 185,220 62,975
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
93/97
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
94/97
2027 2028 2029 20)0
ear 12 ear 13 ear18 ear 15
1,181,442 1,181,442 1,168,017 1,154,591
171917882 171917882 17169701: 17158751
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
0 0 0 0
94,141 97,906 101,82) 105,89515,)70 15,985 16,624 17,289
9,606 9,990 10,)90 10,806
115,274 119,885 124,681 129,668
75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625
38:7266 3567682 366732 3:67533
93871:6 9287900 9017625 ::97059
#206,)6)( #158,717( #108,1)2( #54,428(
*772,499 *820,145 *870,7)0 *924,4)5
*144,686 *154,062 *177,2)8 *200,804
*81,711 *2)5,77) *41),011 *61),815
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
95/97
-
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20)1 20)2 20)) 20)4 20)5 20)6
ear 16 ear 1: ear 19 ear 1 ear 20 ear 21
1,141,166 1,127,740 1,114,)15 1,100,889 1,087,464 1,075,0)8
171817166 1712:7:80 ;;; ;;; ;;; ;;;
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
0 0 0 0 0 0
110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),99217,981 18,700 19,448 20,226 21,0)5 21,876
11,2)8 11,687 12,155 12,641 1),147 1),67)
1)4,855 140,249 145,859 151,69) 157,761 164,071
75,250 75,250 75,250 75,250 75,250 75,250
)7625 )7625 )7625 )7625 )7625 )7625
39:70: 397089 807855 8217319 8337655 886789:
:58709: :2762 :087960 6:75:1 653790 6297551
#6,047( 0 0 0 0 0
*401,812 0 0 0 0 0
)46,227 729,692 704,860 679,571 65),809 628,551
*267,587 462,105 1,166,965 1,846,5)7 2,500,)45 ),128,897
-
8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814
97/97