diff --git a/.bumpversion.cfg b/.bumpversion.cfg index 3285c367b..8fe7e8868 100644 --- a/.bumpversion.cfg +++ b/.bumpversion.cfg @@ -1,5 +1,5 @@ [bumpversion] -current_version = 3.13.6 +current_version = 3.13.8 commit = True tag = True diff --git a/.cookiecutterrc b/.cookiecutterrc index 941a5dabe..a3ea58d80 100644 --- a/.cookiecutterrc +++ b/.cookiecutterrc @@ -54,7 +54,7 @@ default_context: sphinx_doctest: "no" sphinx_theme: "sphinx-py3doc-enhanced-theme" test_matrix_separate_coverage: "no" - version: 3.13.6 + version: 3.13.8 version_manager: "bump2version" website: "https://github.com/NREL" year_from: "2023" diff --git a/CHANGELOG.rst b/CHANGELOG.rst index 1589f1acf..189a8a7ae 100644 --- a/CHANGELOG.rst +++ b/CHANGELOG.rst @@ -8,7 +8,7 @@ GEOPHIRES v3 (2023-2026) 3.13 ^^^^ -3.13.6: `Fix drilling cost types output unit conversion issue. `__ | `release `__ +3.13.8: `Fix drilling cost types output unit conversion issue; Project Location (Latitude & Longitude); SHR Example 3 update `__ | `release `__ 3.13.5: `Fix CHP Electrical Plant Cost Allocation Ratio check for non-cogen end-use option with fixed Surface Plant Capital Cost. Add example_SHR-3. `__ | `release `__ diff --git a/README.rst b/README.rst index b9bd73b60..26ec2530e 100644 --- a/README.rst +++ b/README.rst @@ -58,9 +58,9 @@ Free software: `MIT license `__ :alt: Supported implementations :target: https://pypi.org/project/geophires-x -.. |commits-since| image:: https://img.shields.io/github/commits-since/softwareengineerprogrammer/GEOPHIRES-X/v3.13.6.svg +.. |commits-since| image:: https://img.shields.io/github/commits-since/softwareengineerprogrammer/GEOPHIRES-X/v3.13.8.svg :alt: Commits since latest release - :target: https://github.com/softwareengineerprogrammer/GEOPHIRES-X/compare/v3.13.6...main + :target: https://github.com/softwareengineerprogrammer/GEOPHIRES-X/compare/v3.13.8...main .. |docs| image:: https://readthedocs.org/projects/GEOPHIRES-X/badge/?style=flat :target: https://softwareengineerprogrammer.github.io/GEOPHIRES diff --git a/docs/_images/fervo_project_cape-5-sensitivity-analysis-irr.svg b/docs/_images/fervo_project_cape-5-sensitivity-analysis-irr.svg index 0ae3c0d94..5a30939ec 100644 --- a/docs/_images/fervo_project_cape-5-sensitivity-analysis-irr.svg +++ b/docs/_images/fervo_project_cape-5-sensitivity-analysis-irr.svg @@ -6,7 +6,7 @@ - 2026-02-27T13:19:01.174125 + 2026-05-19T09:37:03.835790 image/svg+xml @@ -40,23 +40,23 @@ z +" clip-path="url(#pb4a85d11dd)" style="fill: none; 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stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #b0b0b0; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2290,7 +2290,7 @@ z - + @@ -2332,7 +2332,7 @@ z - + @@ -2346,17 +2346,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #4ab67d; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2372,7 +2372,7 @@ z - + @@ -2386,27 +2386,27 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #808080; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #b0b0b0; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2424,7 +2424,7 @@ z - + @@ -2439,7 +2439,7 @@ z - + @@ -2453,17 +2453,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #4ab67d; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2479,7 +2479,7 @@ z - + @@ -2493,27 +2493,27 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #808080; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #b0b0b0; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2541,7 +2541,7 @@ z - + @@ -2556,7 +2556,7 @@ z - + @@ -2571,17 +2571,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #4ab67d; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2596,7 +2596,7 @@ z - + @@ -2610,17 +2610,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #84d1a8; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2634,7 +2634,7 @@ z - + @@ -2649,7 +2649,7 @@ z - + @@ -2663,17 +2663,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #808080; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2688,7 +2688,7 @@ z - + @@ -2698,17 +2698,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #b0b0b0; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2716,7 +2716,7 @@ z - + @@ -2730,24 +2730,24 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #4ab67d; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + - + @@ -2761,27 +2761,27 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #808080; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #b0b0b0; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2800,7 +2800,7 @@ z - + @@ -2814,17 +2814,17 @@ z - + +" clip-path="url(#pfcaad1ec9a)" style="fill: #4ab67d; stroke: #ffffff; stroke-width: 0.5; stroke-linejoin: miter"/> - + @@ -2844,7 +2844,7 @@ z - + @@ -3367,7 +3367,7 @@ z - + diff --git a/docs/_images/singh_et_al_base_simulation-production-temperature.png b/docs/_images/singh_et_al_base_simulation-production-temperature.png index bd28187ba..92368c742 100644 Binary files a/docs/_images/singh_et_al_base_simulation-production-temperature.png and b/docs/_images/singh_et_al_base_simulation-production-temperature.png differ diff --git a/docs/conf.py b/docs/conf.py index f96d0e0df..91cd06750 100644 --- a/docs/conf.py +++ b/docs/conf.py @@ -18,7 +18,7 @@ year = '2025' author = 'NREL' copyright = f'{year}, {author}' -version = release = '3.13.6' +version = release = '3.13.8' pygments_style = 'trac' templates_path = ['./templates'] diff --git a/setup.py b/setup.py index 0e89b66e2..80a568eef 100755 --- a/setup.py +++ b/setup.py @@ -13,7 +13,7 @@ def read(*names, **kwargs): setup( name='geophires-x', - version='3.13.6', + version='3.13.8', license='MIT', description='GEOPHIRES is a free and open-source geothermal techno-economic simulator.', long_description='{}\n{}'.format( diff --git a/src/geophires_x/EconomicsSam.py b/src/geophires_x/EconomicsSam.py index 90fb057cd..aca41ff19 100644 --- a/src/geophires_x/EconomicsSam.py +++ b/src/geophires_x/EconomicsSam.py @@ -170,7 +170,7 @@ def _validate_construction_capex_schedule( msg = f'{econ_capex_schedule.Name} ({econ_capex_schedule.value}) ' msg += ' and '.join(adjust_schedule_reasons) - msg += f'. It has been adjusted to: {capex_schedule}' + msg += f'. It has been adjusted to: {[sig_figs(it, 3) for it in capex_schedule]}' model.logger.warning(msg) diff --git a/src/geophires_x/Outputs.py b/src/geophires_x/Outputs.py index 4b2b5ed4b..9be9b660a 100644 --- a/src/geophires_x/Outputs.py +++ b/src/geophires_x/Outputs.py @@ -371,6 +371,9 @@ def PrintOutputs(self, model: Model): f.write(f' Segment {str(i):s} Thickness: {round(model.reserv.layerthickness.value[i-1], 10)} {model.reserv.layerthickness.CurrentUnits.value}\n') f.write(f' Segment {str(i+1):s} Geothermal gradient: {model.reserv.gradient.value[i]:10.4g} {model.reserv.gradient.CurrentUnits.value}\n') + if model.surfaceplant.project_location.value is not None: + f.write(f' {Outputs._field_label(model.surfaceplant.project_location.display_name,54)}{model.surfaceplant.project_location.value}\n') + f.write(NL) f.write(NL) f.write(' ***RESERVOIR PARAMETERS***\n') diff --git a/src/geophires_x/SurfacePlant.py b/src/geophires_x/SurfacePlant.py index 6113add02..350e2b07f 100644 --- a/src/geophires_x/SurfacePlant.py +++ b/src/geophires_x/SurfacePlant.py @@ -472,6 +472,26 @@ def __init__(self, model: Model): ToolTipText="Dynamic viscosity of the working fluid" ) + self.project_latitude = self.ParameterDict[self.project_latitude.Name] = floatParameter( + "Project Latitude", + UnitType=Units.NONE, + CurrentUnits=Units.NONE, + PreferredUnits=Units.NONE, + Min=-90, + Max=90, + ToolTipText="Latitude of the project location." + ) + self.project_longitude = self.ParameterDict[self.project_longitude.Name] = floatParameter( + "Project Longitude", + UnitType=Units.NONE, + CurrentUnits=Units.NONE, + PreferredUnits=Units.NONE, + Min=-180, + Max=180, + ToolTipText="Longitude of the project location." + ) + + # local variable initialization self.setinjectionpressurefixed = False sclass = str(__class__).replace(" None: if model.surfaceplant.enduse_option.value.has_direct_use_heat_component or model.surfaceplant.plant_type.value in [ PlantType.ABSORPTION_CHILLER, PlantType.HEAT_PUMP]: - self.HeatProducedMax.value = np.max(model.surfaceplant.HeatProduced.value) \ No newline at end of file + self.HeatProducedMax.value = np.max(model.surfaceplant.HeatProduced.value) + + if self.project_latitude.Provided and self.project_longitude.Provided: + self.project_location.value = f'{self.project_latitude.value}, {self.project_longitude.value}' \ No newline at end of file diff --git a/src/geophires_x/__init__.py b/src/geophires_x/__init__.py index 90d5b7bef..efd0fe510 100644 --- a/src/geophires_x/__init__.py +++ b/src/geophires_x/__init__.py @@ -1 +1 @@ -__version__ = '3.13.6' +__version__ = '3.13.8' diff --git a/src/geophires_x_client/geophires_x_result.py b/src/geophires_x_client/geophires_x_result.py index c393f5927..7ed141cc5 100644 --- a/src/geophires_x_client/geophires_x_result.py +++ b/src/geophires_x_client/geophires_x_result.py @@ -178,6 +178,7 @@ class GeophiresXResult: 'Segment 3 Geothermal gradient', 'Segment 3 Thickness', 'Segment 4 Geothermal gradient', + _StringValueField('Project location'), ], 'RESERVOIR PARAMETERS': [ _EqualSignDelimitedField('Reservoir Model'), diff --git a/src/geophires_x_schema_generator/geophires-request.json b/src/geophires_x_schema_generator/geophires-request.json index 431686349..3f7a887b8 100644 --- a/src/geophires_x_schema_generator/geophires-request.json +++ b/src/geophires_x_schema_generator/geophires-request.json @@ -1350,6 +1350,24 @@ "minimum": 0.0, "maximum": 1 }, + "Project Latitude": { + "description": "Latitude of the project location.", + "type": "number", + "units": null, + "category": "Surface Plant", + "default": 0.0, + "minimum": -90, + "maximum": 90 + }, + "Project Longitude": { + "description": "Longitude of the project location.", + "type": "number", + "units": null, + "category": "Surface Plant", + "default": 0.0, + "minimum": -180, + "maximum": 180 + }, "Dead-state Pressure": { "description": "", "type": "number", diff --git a/src/geophires_x_schema_generator/geophires-result.json b/src/geophires_x_schema_generator/geophires-result.json index 27f73af12..b28445ceb 100644 --- a/src/geophires_x_schema_generator/geophires-result.json +++ b/src/geophires_x_schema_generator/geophires-result.json @@ -297,7 +297,12 @@ "Segment 2 Thickness": {}, "Segment 3 Geothermal gradient": {}, "Segment 3 Thickness": {}, - "Segment 4 Geothermal gradient": {} + "Segment 4 Geothermal gradient": {}, + "Project location": { + "type": "object", + "description": "Project location (latitude, longitude)", + "units": null + } } }, "RESERVOIR PARAMETERS": { diff --git a/tests/examples/Fervo_Project_Cape-5.out b/tests/examples/Fervo_Project_Cape-5.out index c1183346b..bc0817755 100644 --- a/tests/examples/Fervo_Project_Cape-5.out +++ b/tests/examples/Fervo_Project_Cape-5.out @@ -4,10 +4,10 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.12.1 - Simulation Date: 2026-04-01 - Simulation Time: 10:35 - Calculation Time: 1.788 sec + GEOPHIRES Version: 3.13.7 + Simulation Date: 2026-05-19 + Simulation Time: 09:33 + Calculation Time: 1.809 sec ***SUMMARY OF RESULTS*** @@ -69,6 +69,7 @@ Simulation Metadata Segment 2 Geothermal gradient: 41 degC/km Segment 2 Thickness: 0.5 kilometer Segment 3 Geothermal gradient: 39.1 degC/km + Project location: 38.506196, -112.918155 ***RESERVOIR PARAMETERS*** diff --git a/tests/examples/Fervo_Project_Cape-5.txt b/tests/examples/Fervo_Project_Cape-5.txt index 1b80f12eb..f9094c57a 100644 --- a/tests/examples/Fervo_Project_Cape-5.txt +++ b/tests/examples/Fervo_Project_Cape-5.txt @@ -120,3 +120,6 @@ Maximum Drawdown, 0.0025, -- This value represents the fractional drop in produc # ***************************** Maximum Temperature, 500 Time steps per year, 12 + +Project Latitude, 38.506196 +Project Longitude, -112.918155 diff --git a/tests/examples/Fervo_Project_Cape-6.out b/tests/examples/Fervo_Project_Cape-6.out index 93f566a2e..96857e663 100644 --- a/tests/examples/Fervo_Project_Cape-6.out +++ b/tests/examples/Fervo_Project_Cape-6.out @@ -4,10 +4,10 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.12.1 - Simulation Date: 2026-04-01 - Simulation Time: 10:35 - Calculation Time: 1.793 sec + GEOPHIRES Version: 3.13.7 + Simulation Date: 2026-05-19 + Simulation Time: 09:33 + Calculation Time: 1.837 sec ***SUMMARY OF RESULTS*** @@ -69,6 +69,7 @@ Simulation Metadata Segment 2 Geothermal gradient: 41 degC/km Segment 2 Thickness: 0.5 kilometer Segment 3 Geothermal gradient: 39.1 degC/km + Project location: 38.506196, -112.918155 ***RESERVOIR PARAMETERS*** diff --git a/tests/examples/Fervo_Project_Cape-6.txt b/tests/examples/Fervo_Project_Cape-6.txt index 31229fbb8..0c899ecc4 100644 --- a/tests/examples/Fervo_Project_Cape-6.txt +++ b/tests/examples/Fervo_Project_Cape-6.txt @@ -116,3 +116,6 @@ Maximum Drawdown, 0.0025, -- This value represents the fractional drop in produc # ***************************** Maximum Temperature, 500 Time steps per year, 12 + +Project Latitude, 38.506196 +Project Longitude, -112.918155 diff --git a/tests/examples/example8.out b/tests/examples/example8.out index a5099a213..6c21e42aa 100644 --- a/tests/examples/example8.out +++ b/tests/examples/example8.out @@ -4,10 +4,10 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.9.28 - Simulation Date: 2025-07-02 - Simulation Time: 12:19 - Calculation Time: 0.854 sec + GEOPHIRES Version: 3.13.6 + Simulation Date: 2026-05-16 + Simulation Time: 18:25 + Calculation Time: 1.151 sec ***SUMMARY OF RESULTS*** @@ -25,7 +25,7 @@ Simulation Metadata Economic Model = Fixed Charge Rate (FCR) Fixed Charge Rate (FCR): 5.00 - Accrued financing during construction: 0.00 % + Accrued financing during construction: 0.00 % Project lifetime: 30 yr Capacity factor: 60.0 % Project NPV: -7.63 MUSD @@ -55,6 +55,7 @@ Simulation Metadata Maximum reservoir temperature: 400.0 degC Number of segments: 1 Geothermal gradient: 28 degC/km + Project location: 42.441977082209235, -76.43242140337269 ***RESERVOIR PARAMETERS*** @@ -92,13 +93,13 @@ Simulation Metadata ***CAPITAL COSTS (M$)*** + Exploration costs: 4.20 MUSD Drilling and completion costs: 7.91 MUSD Drilling and completion costs per well: 3.96 MUSD Stimulation costs: 1.51 MUSD Surface power plant costs: 3.52 MUSD Field gathering system costs: 1.14 MUSD Total surface equipment costs: 4.66 MUSD - Exploration costs: 4.20 MUSD Total capital costs: 18.28 MUSD Annualized capital costs: 0.91 MUSD @@ -113,7 +114,6 @@ Simulation Metadata ***SURFACE EQUIPMENT SIMULATION RESULTS*** - Maximum Net Heat Production: 9.84 MW Average Net Heat Production: 9.60 MW Minimum Net Heat Production: 9.04 MW diff --git a/tests/examples/example8.txt b/tests/examples/example8.txt index 3e1dceaab..b1258c59b 100644 --- a/tests/examples/example8.txt +++ b/tests/examples/example8.txt @@ -43,6 +43,9 @@ Surface Temperature,20, ---[deg.C] Ambient Temperature,20, ---[deg.C] Electricity Rate,0.1, ---Electricity rate for pumping power [$/kWh] +Project Latitude, 42.441977082209235, -- Estimated location; https://www.google.com/maps/search/?api=1&query=42.441977082209235,76.43242140337269 +Project Longitude, -76.43242140337269 + ***FINANCIAL PARAMETERS*** ************************** Plant Lifetime,30, ---[years] diff --git a/tests/examples/example9.out b/tests/examples/example9.out index 8977d8374..04f0134c0 100644 --- a/tests/examples/example9.out +++ b/tests/examples/example9.out @@ -4,10 +4,10 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.9.28 - Simulation Date: 2025-07-02 - Simulation Time: 12:19 - Calculation Time: 0.861 sec + GEOPHIRES Version: 3.13.6 + Simulation Date: 2026-05-16 + Simulation Time: 18:26 + Calculation Time: 1.042 sec ***SUMMARY OF RESULTS*** @@ -25,7 +25,7 @@ Simulation Metadata Economic Model = Fixed Charge Rate (FCR) Fixed Charge Rate (FCR): 5.00 - Accrued financing during construction: 0.00 % + Accrued financing during construction: 0.00 % Project lifetime: 30 yr Capacity factor: 90.0 % Project NPV: -26.12 MUSD @@ -57,6 +57,7 @@ Simulation Metadata Maximum reservoir temperature: 400.0 degC Number of segments: 1 Geothermal gradient: 28 degC/km + Project location: 42.441977082209235, -76.43242140337269 ***RESERVOIR PARAMETERS*** @@ -94,13 +95,13 @@ Simulation Metadata ***CAPITAL COSTS (M$)*** + Exploration costs: 5.79 MUSD Drilling and completion costs: 12.25 MUSD Drilling and completion costs per well: 6.12 MUSD Stimulation costs: 1.51 MUSD Surface power plant costs: 2.43 MUSD Field gathering system costs: 1.13 MUSD Total surface equipment costs: 3.56 MUSD - Exploration costs: 5.79 MUSD Total capital costs: 23.11 MUSD Annualized capital costs: 1.16 MUSD @@ -114,7 +115,6 @@ Simulation Metadata ***SURFACE EQUIPMENT SIMULATION RESULTS*** - Initial geofluid availability: 0.06 MW/(kg/s) Maximum Total Electricity Generation: 0.57 MW Average Total Electricity Generation: 0.55 MW diff --git a/tests/examples/example9.txt b/tests/examples/example9.txt index 6283ef7d1..d6ef78329 100644 --- a/tests/examples/example9.txt +++ b/tests/examples/example9.txt @@ -44,6 +44,9 @@ Surface Temperature,20, ---[deg.C] Ambient Temperature,20, ---[deg.C] Electricity Rate,0.1, ---Electricity rate for pumping power [$/kWh] +Project Latitude, 42.441977082209235, -- Estimated location; https://www.google.com/maps/search/?api=1&query=42.441977082209235,76.43242140337269 +Project Longitude, -76.43242140337269 + # ***FINANCIAL PARAMETERS*** # ************************** Plant Lifetime,30, ---[years] diff --git a/tests/examples/example_SHR-3.out b/tests/examples/example_SHR-3.out index 32863ce95..696964296 100644 --- a/tests/examples/example_SHR-3.out +++ b/tests/examples/example_SHR-3.out @@ -4,54 +4,56 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.13.4 - Simulation Date: 2026-05-05 - Simulation Time: 10:27 - Calculation Time: 1.557 sec + GEOPHIRES Version: 3.13.7 + Simulation Date: 2026-05-18 + Simulation Time: 11:46 + Calculation Time: 1.659 sec ***SUMMARY OF RESULTS*** End-Use Option: Electricity - Average Net Electricity Production: 481.71 MW - Electricity breakeven price: 3.84 cents/kWh - Total CAPEX: 1100.10 MUSD - Total CAPEX ($/kW): 2237 USD/kW - Number of production wells: 12 - Number of injection wells: 12 - Flowrate per production well: 80.0 kg/sec - Well depth: 3.9 kilometer + Average Net Electricity Production: 50.44 MW + Electricity breakeven price: 6.29 cents/kWh + Total CAPEX: 265.42 MUSD + Total CAPEX ($/kW): 4165 USD/kW + Number of production wells: 2 + Number of injection wells: 1 + Flowrate per production well: 60.0 kg/sec + Well depth: 4.0 kilometer Geothermal gradient: 112 degC/km + Total Avoided Carbon Emissions: 4227.67 kilotonne ***ECONOMIC PARAMETERS*** Economic Model = SAM Single Owner PPA - Real Discount Rate: 7.50 % - Nominal Discount Rate: 9.97 % - WACC: 7.35 % + Real Discount Rate: 10.50 % + Nominal Discount Rate: 13.48 % + WACC: 7.63 % + Investment Tax Credit: 79.63 MUSD Project lifetime: 25 yr Capacity factor: 90.0 % - Project NPV: 2090.70 MUSD - After-tax IRR: 59.90 % - Project VIR=PI=PIR: 5.75 - Project MOIC: 16.23 - Project Payback Period: 2.69 yr - Estimated Jobs Created: 1026 + Project NPV: 91.34 MUSD + After-tax IRR: 49.82 % + Project VIR=PI=PIR: 2.40 + Project MOIC: 4.97 + Project Payback Period: 3.81 yr + Estimated Jobs Created: 108 ***ENGINEERING PARAMETERS*** - Number of Production Wells: 12 - Number of Injection Wells: 12 - Well depth: 3.9 kilometer + Number of Production Wells: 2 + Number of Injection Wells: 1 + Well depth: 4.0 kilometer Water loss rate: 23.8 % Pump efficiency: 80.0 % - Injection temperature: 63.0 degC + Injection temperature: 52.6 degC Production Wellbore heat transmission calculated with Ramey's model - Average production well temperature drop: 2.5 degC - Flowrate per production well: 80.0 kg/sec - Injection well casing ID: 9.625 in - Production well casing ID: 9.625 in - Number of times redrilling: 2 + Average production well temperature drop: 8.2 degC + Flowrate per production well: 60.0 kg/sec + Injection well casing ID: 8.535 in + Production well casing ID: 8.535 in + Number of times redrilling: 0 Power plant type: Double-Flash @@ -60,78 +62,76 @@ Simulation Metadata Maximum reservoir temperature: 600.0 degC Number of segments: 1 Geothermal gradient: 112 degC/km + Project location: 43.812139, -121.281671 ***RESERVOIR PARAMETERS*** Reservoir Model = Multiple Parallel Fractures Model (Gringarten) - Bottom-hole temperature: 449.92 degC - Fracture model = Square - Well separation: fracture height: 224.00 meter - Fracture area: 50176.00 m**2 + Bottom-hole temperature: 450.00 degC + Fracture model = Rectangular + Well separation: fracture height: 100.00 meter + Fracture width: 305.00 meter + Fracture area: 30500.00 m**2 Reservoir volume calculated with fracture separation and number of fractures as input - Number of fractures: 960 - Fracture separation: 18.00 meter - Reservoir volume: 866138112 m**3 - Reservoir hydrostatic pressure: 31965.60 kPa + Number of fractures: 450 + Fracture separation: 9.83 meter + Reservoir volume: 134555310 m**3 + Reservoir hydrostatic pressure: 32591.45 kPa Plant outlet pressure: 101.33 kPa - Injectivity Index: 5.48 kg/sec/bar - Reservoir density: 2800.00 kg/m**3 - Reservoir thermal conductivity: 3.05 W/m/K - Reservoir heat capacity: 790.00 J/kg/K + Injectivity Index: 2.19 kg/sec/bar + Reservoir density: 2700.00 kg/m**3 + Reservoir thermal conductivity: 2.70 W/m/K + Reservoir heat capacity: 1000.00 J/kg/K ***RESERVOIR SIMULATION RESULTS*** - Maximum Production Temperature: 440.6 degC - Average Production Temperature: 436.8 degC - Minimum Production Temperature: 413.3 degC - Initial Production Temperature: 435.0 degC - Average Reservoir Heat Extraction: 1602.17 MW + Maximum Production Temperature: 439.6 degC + Average Production Temperature: 384.0 degC + Minimum Production Temperature: 121.2 degC + Initial Production Temperature: 431.3 degC + Average Reservoir Heat Extraction: 176.34 MW Production Wellbore Heat Transmission Model = Ramey Model - Average Production Well Temperature Drop: 2.5 degC - Average Injection Well Pump Pressure Drop: -4010.1 kPa + Average Production Well Temperature Drop: 8.2 degC + Average Injection Well Pump Pressure Drop: 2416.9 kPa ***CAPITAL COSTS (M$)*** - Exploration costs: 6.10 MUSD - Drilling and completion costs: 199.88 MUSD - Drilling and completion costs per vertical production well: 6.23 MUSD - Drilling and completion costs per vertical injection well: 6.23 MUSD - Drilling and completion costs per non-vertical section: 1.70 MUSD - Stimulation costs: 200.51 MUSD - Surface power plant costs: 664.94 MUSD - Field gathering system costs: 3.93 MUSD - Total surface equipment costs: 668.87 MUSD - Overnight Capital Cost: 1075.36 MUSD - Inflation costs during construction: 24.73 MUSD - Total CAPEX: 1100.10 MUSD + Exploration costs: 6.20 MUSD + Drilling and completion costs: 20.01 MUSD + Drilling and completion costs per well: 6.67 MUSD + Stimulation costs: 26.32 MUSD + Surface power plant costs: 188.47 MUSD + Field gathering system costs: 0.64 MUSD + Total surface equipment costs: 189.11 MUSD + Overnight Capital Cost: 241.64 MUSD + Inflation costs during construction: 17.99 MUSD + Interest during construction: 5.79 MUSD + Total CAPEX: 265.42 MUSD ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** - Wellfield maintenance costs: 2.96 MUSD/yr - Power plant maintenance costs: 12.74 MUSD/yr - Water costs: 5.99 MUSD/yr - Redrilling costs: 32.03 MUSD/yr - Total operating and maintenance costs: 53.71 MUSD/yr + Total operating and maintenance costs: 6.50 MUSD/yr ***SURFACE EQUIPMENT SIMULATION RESULTS*** - Initial geofluid availability: 0.94 MW/(kg/s) - Maximum Total Electricity Generation: 491.74 MW - Average Total Electricity Generation: 481.71 MW - Minimum Total Electricity Generation: 420.61 MW - Initial Total Electricity Generation: 476.51 MW - Maximum Net Electricity Generation: 491.74 MW - Average Net Electricity Generation: 481.71 MW - Minimum Net Electricity Generation: 420.61 MW - Initial Net Electricity Generation: 476.51 MW - Average Annual Total Electricity Generation: 3797.82 GWh - Average Annual Net Electricity Generation: 3797.82 GWh - Average Pumping Power: 0.00 MW - Heat to Power Conversion Efficiency: 30.06 % + Initial geofluid availability: 0.95 MW/(kg/s) + Maximum Total Electricity Generation: 64.18 MW + Average Total Electricity Generation: 50.89 MW + Minimum Total Electricity Generation: 3.68 MW + Initial Total Electricity Generation: 61.27 MW + Maximum Net Electricity Generation: 63.73 MW + Average Net Electricity Generation: 50.44 MW + Minimum Net Electricity Generation: 3.23 MW + Initial Net Electricity Generation: 60.82 MW + Average Annual Total Electricity Generation: 400.49 GWh + Average Annual Net Electricity Generation: 396.96 GWh + Initial pumping power/net installed power: 0.74 % + Average Pumping Power: 0.45 MW + Heat to Power Conversion Efficiency: 26.67 % ************************************************************ * HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * @@ -139,31 +139,31 @@ Simulation Metadata YEAR THERMAL GEOFLUID PUMP NET FIRST LAW DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY (degC) (MW) (MW) (%) - 1 1.0000 434.97 0.0000 476.5069 29.8917 - 2 1.0099 439.27 0.0000 488.1082 30.2692 - 3 1.0117 440.06 0.0000 490.2596 30.3388 - 4 1.0126 440.47 0.0000 491.3514 30.3741 - 5 1.0130 440.60 0.0000 491.7246 30.3861 - 6 1.0118 440.08 0.0000 490.3006 30.3401 - 7 1.0067 437.89 0.0000 484.3588 30.1476 - 8 0.9943 432.48 0.0000 469.8678 29.6740 - 9 0.9705 422.13 0.0000 442.9204 28.7778 - 10 1.0063 437.72 0.0000 483.9035 30.1328 - 11 1.0107 439.62 0.0000 489.0411 30.2994 - 12 1.0121 440.22 0.0000 490.6946 30.3528 - 13 1.0128 440.55 0.0000 491.5781 30.3814 - 14 1.0128 440.54 0.0000 491.5488 30.3804 - 15 1.0107 439.60 0.0000 489.0033 30.2981 - 16 1.0036 436.53 0.0000 480.6929 30.0283 - 17 0.9878 429.66 0.0000 462.4194 29.4284 - 18 0.9595 417.34 0.0000 430.7692 28.3666 - 19 1.0087 438.75 0.0000 486.6847 30.2231 - 20 1.0113 439.87 0.0000 489.7249 30.3215 - 21 1.0124 440.36 0.0000 491.0554 30.3645 - 22 1.0129 440.60 0.0000 491.7151 30.3858 - 23 1.0124 440.38 0.0000 491.1080 30.3662 - 24 1.0090 438.89 0.0000 487.0746 30.2357 - 25 0.9995 434.75 0.0000 475.9138 29.8723 + 1 1.0000 431.25 0.4473 60.8233 30.1874 + 2 1.0126 436.68 0.4473 62.7113 30.6845 + 3 1.0149 437.68 0.4473 63.0615 30.7761 + 4 1.0161 438.19 0.4473 63.2436 30.8236 + 5 1.0169 438.53 0.4473 63.3640 30.8550 + 6 1.0175 438.79 0.4473 63.4528 30.8782 + 7 1.0179 438.98 0.4473 63.5226 30.8964 + 8 1.0183 439.14 0.4473 63.5797 30.9113 + 9 1.0186 439.28 0.4473 63.6278 30.9238 + 10 1.0189 439.40 0.4473 63.6694 30.9346 + 11 1.0191 439.50 0.4473 63.7050 30.9439 + 12 1.0193 439.57 0.4473 63.7292 30.9502 + 13 1.0192 439.54 0.4473 63.7206 30.9479 + 14 1.0184 439.18 0.4473 63.5933 30.9148 + 15 1.0153 437.83 0.4473 63.1164 30.7904 + 16 1.0069 434.23 0.4473 61.8537 30.4594 + 17 0.9888 426.42 0.4473 59.1749 29.7486 + 18 0.9555 412.06 0.4473 54.4397 28.4619 + 19 0.9023 389.11 0.4473 47.3947 26.4683 + 20 0.8276 356.93 0.4473 38.5481 23.8045 + 21 0.7347 316.83 0.4473 29.1159 20.7077 + 22 0.6307 271.99 0.4473 20.4656 17.5307 + 23 0.5252 226.48 0.4473 13.5059 14.5973 + 24 0.4271 184.18 0.4473 8.4801 12.1114 + 25 0.3430 147.92 0.4473 5.1530 10.1590 ******************************************************************* @@ -172,272 +172,279 @@ Simulation Metadata YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED (GWh/year) (GWh/year) (10^15 J) (%) - 1 3818.2 12665.8 695.70 6.15 - 2 3857.9 12728.6 649.88 12.33 - 3 3869.9 12747.6 603.99 18.52 - 4 3875.9 12757.0 558.06 24.72 - 5 3873.0 12752.4 512.15 30.91 - 6 3846.3 12710.3 466.40 37.08 - 7 3768.5 12586.7 421.08 43.20 - 8 3607.3 12325.0 376.71 49.18 - 9 3543.6 12215.2 332.74 55.11 - 10 3840.9 12701.8 287.01 61.28 - 11 3862.9 12736.4 241.16 67.47 - 12 3872.5 12751.7 195.26 73.66 - 13 3876.4 12757.8 149.33 79.86 - 14 3867.9 12744.3 103.45 86.04 - 15 3827.6 12680.8 57.80 92.20 - 16 3725.6 12517.6 12.73 98.28 - 17 3530.3 12197.6 -31.18 104.21 - 18 3671.1 12423.7 -75.90 110.24 - 19 3851.2 12718.1 -121.69 116.42 - 20 3866.7 12742.6 -167.56 122.60 - 21 3874.5 12754.9 -213.48 128.80 - 22 3875.6 12756.5 -259.40 134.99 - 23 3859.3 12730.8 -305.23 141.18 - 24 3802.2 12640.3 -350.74 147.31 - 25 3680.1 12444.1 -395.54 153.36 + 1 489.5 1603.8 138.46 4.00 + 2 496.0 1613.7 132.65 8.03 + 3 498.0 1616.6 126.83 12.07 + 4 499.1 1618.4 121.00 16.11 + 5 499.9 1619.6 115.17 20.15 + 6 500.5 1620.5 109.34 24.19 + 7 501.0 1621.3 103.50 28.24 + 8 501.5 1621.9 97.66 32.29 + 9 501.8 1622.4 91.82 36.34 + 10 502.1 1622.9 85.98 40.39 + 11 502.4 1623.3 80.13 44.44 + 12 502.4 1623.4 74.29 48.49 + 13 502.0 1622.7 68.45 52.54 + 14 499.8 1619.5 62.62 56.58 + 15 493.3 1609.6 56.82 60.60 + 16 478.2 1586.5 51.11 64.56 + 17 449.4 1540.8 45.56 68.41 + 18 402.9 1463.1 40.30 72.06 + 19 339.6 1347.3 35.45 75.42 + 20 266.6 1194.9 31.15 78.41 + 21 194.6 1015.4 27.49 80.94 + 22 132.7 824.4 24.52 83.00 + 23 85.4 639.0 22.22 84.59 + 24 52.8 473.5 20.52 85.77 + 25 32.5 341.6 19.29 86.63 *************************** * SAM CASH FLOW PROFILE * *************************** ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- - Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 +------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ + Year -2 Year -1 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 CONSTRUCTION -Capital expenditure schedule [construction] (%) 100.0 -Overnight capital expenditure [construction] ($) -1,075,364,115 +Capital expenditure schedule [construction] (%) 2.58 25.60 71.80 +Overnight capital expenditure [construction] ($) -6,234,267 -61,859,396 -173,544,602 plus: -Inflation cost [construction] ($) -24,733,375 +Inflation cost [construction] ($) -168,325 -3,385,503 -14,440,071 plus: -Royalty supplemental payments [construction] ($) 0 +Royalty supplemental payments [construction] ($) 0 0 0 equals: -Nominal capital expenditure [construction] ($) -1,100,097,490 +Nominal capital expenditure [construction] ($) -6,402,592 -65,244,899 -187,984,673 -Issuance of equity [construction] ($) 440,038,996 -Issuance of debt [construction] ($) 660,058,494 -Debt balance [construction] ($) 660,058,494 -Debt interest payment [construction] ($) 0 +Issuance of equity [construction] ($) 1,920,778 19,573,470 56,395,402 +Issuance of debt [construction] ($) 4,481,815 45,671,429 131,589,271 +Debt balance [construction] ($) 4,481,815 50,623,835 187,528,608 +Debt interest payment [construction] ($) 0 470,591 5,315,503 -Installed cost [construction] ($) -1,100,097,490 -After-tax net cash flow [construction] ($) -440,038,996 +Installed cost [construction] ($) -6,402,592 -65,715,489 -193,300,176 +After-tax net cash flow [construction] ($) -1,920,778 -19,573,470 -56,395,402 ENERGY -Electricity to grid (kWh) 0.0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150 -Electricity from grid (kWh) 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 -Electricity to grid net (kWh) 0.0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150 +Electricity to grid (kWh) 0.0 489,550,430 496,008,198 497,973,086 499,134,605 499,947,603 500,567,126 501,064,383 501,477,694 501,829,698 502,135,142 502,377,193 502,464,611 502,022,520 499,853,861 493,352,693 478,265,598 449,385,959 402,891,262 339,639,716 266,653,539 194,571,636 132,664,005 85,447,863 52,766,865 32,464,872 +Electricity from grid (kWh) 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 +Electricity to grid net (kWh) 0.0 489,550,430 496,008,198 497,973,086 499,134,605 499,947,603 500,567,126 501,064,383 501,477,694 501,829,698 502,135,142 502,377,193 502,464,611 502,022,520 499,853,861 493,352,693 478,265,598 449,385,959 402,891,262 339,639,716 266,653,539 194,571,636 132,664,005 85,447,863 52,766,865 32,464,872 + +Saved Carbon Production (pound) 0 459,751,954 465,816,644 467,661,931 468,752,749 469,516,260 470,098,074 470,565,063 470,953,216 471,283,794 471,570,646 471,797,964 471,880,061 471,464,879 469,428,224 463,322,777 449,154,019 422,032,257 378,367,649 318,966,165 250,422,588 182,728,243 124,588,871 80,246,731 49,554,995 30,488,766 REVENUE -PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 -PPA revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 397,904,385 -Curtailment payment revenue ($) 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 -Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 550,048,745 -Total revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 947,953,130 +PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 +PPA revenue ($) 0 46,507,291 47,120,779 47,591,288 47,986,801 48,349,933 48,695,170 49,029,150 49,355,435 49,676,122 49,992,575 50,303,028 50,598,186 50,839,821 50,905,117 50,524,249 49,251,791 46,533,916 41,949,038 35,556,882 28,067,952 20,591,516 14,115,450 9,140,358 5,674,549 3,509,777 +Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Carbon price ($/lb) 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 +Carbon credits revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +equals: +Capacity payment revenue ($) 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 + +Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 132,709,129 +Total revenue ($) 0 46,507,291 47,120,779 47,591,288 47,986,801 48,349,933 48,695,170 49,029,150 49,355,435 49,676,122 49,992,575 50,303,028 50,598,186 50,839,821 50,905,117 50,524,249 49,251,791 46,533,916 41,949,038 35,556,882 28,067,952 20,591,516 14,115,450 9,140,358 5,674,549 136,218,906 -Property tax net assessed value ($) 0 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 1,100,097,490 +Property tax net assessed value ($) 0 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 265,418,258 OPERATING EXPENSES -O&M fixed expense ($) 0 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 -O&M production-based expense ($) 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 -O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Fuel expense ($) 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 -Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Property tax expense ($) 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 -Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total operating expenses ($) 0 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 53,710,464 +O&M fixed expense ($) 0 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 6,500,000 +O&M production-based expense ($) 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 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 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 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 0 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 2,149,888 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 8,649,888 -EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 +EBITDA ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 OPERATING ACTIVITIES -EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 -Interest earned on reserves ($) 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 +EBITDA ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 +Interest earned on reserves ($) 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 plus PBI if not available for debt service: -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 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 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 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 -Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981 -Cash flow from operating activities ($) 0 272,101,015 276,583,341 280,683,776 284,261,924 287,027,685 287,521,392 283,043,487 270,306,635 267,099,979 299,826,891 305,377,793 309,781,799 313,681,239 316,390,157 315,923,716 309,122,462 292,637,820 311,010,741 333,763,497 339,495,752 344,532,375 348,973,211 351,673,883 350,092,166 891,607,685 +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 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 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 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 +Debt interest payment ($) 0 13,127,003 12,919,458 12,697,385 12,459,767 12,205,516 11,933,467 11,642,375 11,330,906 10,997,635 10,641,034 10,259,472 9,851,200 9,414,349 8,946,919 8,446,768 7,911,607 7,338,985 6,726,279 6,070,684 5,369,197 4,618,605 3,815,473 2,956,121 2,036,615 1,052,743 +Cash flow from operating activities ($) 0 24,730,400 25,551,433 26,244,015 26,877,146 27,494,529 28,111,815 28,736,887 29,374,640 30,028,599 30,701,652 31,393,668 32,097,098 32,775,583 33,308,310 33,427,593 32,690,296 30,545,043 26,572,871 20,836,310 14,048,867 7,323,023 1,650,089 -2,465,651 -5,011,954 126,516,275 INVESTING ACTIVITIES -Total installed cost ($) -1,100,097,490 -Debt closing costs ($) 0 -Debt up-front fee ($) 0 +Total installed cost ($) -265,418,258 +Debt closing costs ($) 0 +Debt up-front fee ($) 0 minus: -Total IBI income ($) 0 -Total CBI income ($) 0 +Total IBI income ($) 0 +Total CBI income ($) 0 equals: -Purchase of property ($) -1,100,097,490 +Purchase of property ($) -265,418,258 plus: -Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease working capital ($) 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 -Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 1 ($) 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 -Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 3 ($) 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 -Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 2 ($) 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 -Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease debt service ($) 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 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 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 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 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 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 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 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 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 equals: -Cash flow from investing activities ($) -1,100,097,490 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from investing activities ($) -265,418,258 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 FINANCING ACTIVITIES -Issuance of equity ($) 440,038,996 -Size of debt ($) 660,058,494 +Issuance of equity ($) 77,889,649 +Size of debt ($) 187,528,608 minus: -Debt principal payment ($) 0 12,724,928 13,437,524 14,190,026 14,984,667 15,823,808 16,709,942 17,645,698 18,633,858 19,677,354 20,779,285 21,942,925 23,171,729 24,469,346 25,839,629 27,286,649 28,814,701 30,428,324 32,132,310 33,931,720 35,831,896 37,838,482 39,957,437 42,195,054 44,557,977 47,053,223 +Debt principal payment ($) 0 2,964,924 3,172,469 3,394,542 3,632,160 3,886,411 4,158,460 4,449,552 4,761,021 5,094,292 5,450,892 5,832,455 6,240,727 6,677,578 7,145,008 7,645,159 8,180,320 8,752,942 9,365,648 10,021,243 10,722,730 11,473,321 12,276,454 13,135,806 14,055,312 15,039,184 equals: -Cash flow from financing activities ($) 1,100,097,490 -12,724,928 -13,437,524 -14,190,026 -14,984,667 -15,823,808 -16,709,942 -17,645,698 -18,633,858 -19,677,354 -20,779,285 -21,942,925 -23,171,729 -24,469,346 -25,839,629 -27,286,649 -28,814,701 -30,428,324 -32,132,310 -33,931,720 -35,831,896 -37,838,482 -39,957,437 -42,195,054 -44,557,977 -47,053,223 +Cash flow from financing activities ($) 265,418,258 -2,964,924 -3,172,469 -3,394,542 -3,632,160 -3,886,411 -4,158,460 -4,449,552 -4,761,021 -5,094,292 -5,450,892 -5,832,455 -6,240,727 -6,677,578 -7,145,008 -7,645,159 -8,180,320 -8,752,942 -9,365,648 -10,021,243 -10,722,730 -11,473,321 -12,276,454 -13,135,806 -14,055,312 -15,039,184 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 272,101,015 276,583,341 280,683,776 284,261,924 287,027,685 287,521,392 283,043,487 270,306,635 267,099,979 299,826,891 305,377,793 309,781,799 313,681,239 316,390,157 315,923,716 309,122,462 292,637,820 311,010,741 333,763,497 339,495,752 344,532,375 348,973,211 351,673,883 350,092,166 891,607,685 -Cash flow from investing activities ($) -1,100,097,490 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 -Cash flow from financing activities ($) 1,100,097,490 -12,724,928 -13,437,524 -14,190,026 -14,984,667 -15,823,808 -16,709,942 -17,645,698 -18,633,858 -19,677,354 -20,779,285 -21,942,925 -23,171,729 -24,469,346 -25,839,629 -27,286,649 -28,814,701 -30,428,324 -32,132,310 -33,931,720 -35,831,896 -37,838,482 -39,957,437 -42,195,054 -44,557,977 -47,053,223 -Total pre-tax cash flow ($) 0 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 +Cash flow from operating activities ($) 0 24,730,400 25,551,433 26,244,015 26,877,146 27,494,529 28,111,815 28,736,887 29,374,640 30,028,599 30,701,652 31,393,668 32,097,098 32,775,583 33,308,310 33,427,593 32,690,296 30,545,043 26,572,871 20,836,310 14,048,867 7,323,023 1,650,089 -2,465,651 -5,011,954 126,516,275 +Cash flow from investing activities ($) -265,418,258 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 +Cash flow from financing activities ($) 265,418,258 -2,964,924 -3,172,469 -3,394,542 -3,632,160 -3,886,411 -4,158,460 -4,449,552 -4,761,021 -5,094,292 -5,450,892 -5,832,455 -6,240,727 -6,677,578 -7,145,008 -7,645,159 -8,180,320 -8,752,942 -9,365,648 -10,021,243 -10,722,730 -11,473,321 -12,276,454 -13,135,806 -14,055,312 -15,039,184 +Total pre-tax cash flow ($) 0 21,765,476 22,378,964 22,849,473 23,244,986 23,608,118 23,953,355 24,287,335 24,613,620 24,934,307 25,250,760 25,561,214 25,856,372 26,098,006 26,163,302 25,782,435 24,509,977 21,792,101 17,207,223 10,815,067 3,326,137 -4,150,299 -10,626,365 -15,601,457 -19,067,266 111,477,091 Pre-tax Returns: -Issuance of equity ($) 440,038,996 -Total pre-tax cash flow ($) 0 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 -Total pre-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 +Issuance of equity ($) 77,889,649 +Total pre-tax cash flow ($) 0 21,765,476 22,378,964 22,849,473 23,244,986 23,608,118 23,953,355 24,287,335 24,613,620 24,934,307 25,250,760 25,561,214 25,856,372 26,098,006 26,163,302 25,782,435 24,509,977 21,792,101 17,207,223 10,815,067 3,326,137 -4,150,299 -10,626,365 -15,601,457 -19,067,266 111,477,091 +Total pre-tax returns ($) -77,889,649 21,765,476 22,378,964 22,849,473 23,244,986 23,608,118 23,953,355 24,287,335 24,613,620 24,934,307 25,250,760 25,561,214 25,856,372 26,098,006 26,163,302 25,782,435 24,509,977 21,792,101 17,207,223 10,815,067 3,326,137 -4,150,299 -10,626,365 -15,601,457 -19,067,266 111,477,091 After-tax Returns: -Total pre-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 -Federal ITC total income ($) 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 -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal tax benefit (liability) ($) 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 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 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 -State tax benefit (liability) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total after-tax returns ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 - -After-tax net cash flow ($) -440,038,996 259,376,087 263,145,817 266,493,750 269,277,257 271,203,876 270,811,450 265,397,789 251,672,778 247,422,625 279,047,606 283,434,868 286,610,070 289,211,893 290,550,527 288,637,068 280,307,761 262,209,496 278,878,431 299,831,778 303,663,856 306,693,893 309,015,773 309,478,829 305,534,189 844,554,462 -After-tax cumulative IRR (%) NaN -41.06 12.23 35.81 46.96 52.66 55.72 57.42 58.36 58.91 59.28 59.52 59.66 59.75 59.81 59.84 59.86 59.87 59.88 59.89 59.89 59.89 59.89 59.90 59.90 59.90 -After-tax cumulative NPV ($) -440,038,996 -204,183,589 13,401,071 213,772,010 397,876,035 566,482,958 719,578,461 856,008,064 973,650,351 1,078,818,088 1,186,672,353 1,286,288,146 1,377,885,361 1,461,932,488 1,538,711,815 1,608,068,868 1,669,316,536 1,721,414,260 1,771,799,248 1,821,057,591 1,866,421,570 1,908,083,470 1,946,254,203 1,981,015,557 2,012,221,799 2,090,659,564 +Total pre-tax returns ($) -77,889,649 21,765,476 22,378,964 22,849,473 23,244,986 23,608,118 23,953,355 24,287,335 24,613,620 24,934,307 25,250,760 25,561,214 25,856,372 26,098,006 26,163,302 25,782,435 24,509,977 21,792,101 17,207,223 10,815,067 3,326,137 -4,150,299 -10,626,365 -15,601,457 -19,067,266 111,477,091 +Federal ITC total income ($) 0 79,625,477 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 -3,768,418 -2,817,126 -2,953,842 -3,078,822 -3,200,694 -3,322,546 -3,445,935 -3,571,828 -3,700,919 -3,833,780 -3,970,384 -4,109,241 -4,243,174 -4,348,334 -4,371,880 -4,226,338 -3,802,865 -3,018,758 -1,886,361 -546,520 -332,201 -325,728 486,720 989,360 -24,974,313 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +State tax benefit (liability) ($) 0 -1,145,416 -856,269 -897,824 -935,812 -972,855 -1,009,892 -1,047,397 -1,085,662 -1,124,899 -1,165,283 -1,206,804 -1,249,009 -1,289,718 -1,321,682 -1,328,839 -1,284,601 -1,155,886 -917,556 -573,362 -166,115 -100,973 -99,005 147,939 300,717 -7,590,977 +Total after-tax returns ($) -77,889,649 96,477,120 18,705,568 18,997,807 19,230,352 19,434,569 19,620,917 19,794,003 19,956,130 20,108,489 20,251,698 20,384,026 20,498,122 20,565,114 20,493,286 20,081,715 18,999,037 16,833,350 13,270,909 8,355,344 2,613,501 -4,583,473 -11,051,098 -14,966,798 -17,777,189 78,911,802 + +After-tax net cash flow ($) -1,920,778 -19,573,470 -56,395,402 96,477,120 18,705,568 18,997,807 19,230,352 19,434,569 19,620,917 19,794,003 19,956,130 20,108,489 20,251,698 20,384,026 20,498,122 20,565,114 20,493,286 20,081,715 18,999,037 16,833,350 13,270,909 8,355,344 2,613,501 -4,583,473 -11,051,098 -14,966,798 -17,777,189 78,911,802 +After-tax cumulative IRR (%) NaN NaN NaN 17.57 30.20 37.90 42.46 45.20 46.87 47.92 48.59 49.02 49.30 49.48 49.61 49.69 49.74 49.77 49.79 49.81 49.81 49.82 49.82 49.82 -32.96 -22.51 -16.61 49.82 +After-tax cumulative NPV ($) -1,920,778 -19,168,633 -62,958,967 3,053,531 14,331,737 24,425,192 33,428,268 41,445,895 48,578,653 54,919,382 60,552,503 65,554,224 69,993,057 73,930,050 77,418,688 80,502,872 83,211,118 85,549,657 87,499,243 89,021,363 90,078,780 90,665,428 90,827,125 90,577,239 90,046,330 89,412,736 88,749,585 91,343,517 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -440,038,996 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 -103,398,668 446,650,077 -PPA revenue ($) 0 362,774,755 366,544,484 369,892,418 372,675,924 374,602,544 374,210,118 368,796,456 355,071,446 350,821,293 382,446,274 386,833,536 390,008,738 392,610,560 393,949,195 392,035,735 383,706,429 365,608,164 382,277,098 403,230,445 407,062,524 410,092,560 412,414,441 412,877,497 408,932,857 397,904,385 -Electricity to grid (kWh) 0 3,818,681,629 3,858,362,994 3,870,382,109 3,876,387,814 3,873,462,349 3,846,732,299 3,768,998,020 3,607,716,375 3,544,007,404 3,841,364,743 3,863,313,051 3,872,976,542 3,876,869,362 3,868,314,956 3,828,100,140 3,726,028,634 3,530,740,353 3,671,504,980 3,851,661,527 3,867,209,993 3,875,012,383 3,876,075,575 3,859,750,367 3,802,611,650 3,680,551,150 +Annual costs ($) -1,920,778 -19,573,470 -56,395,402 49,969,829 -28,415,211 -28,593,481 -28,756,449 -28,915,363 -29,074,253 -29,235,146 -29,399,304 -29,567,633 -29,740,877 -29,919,002 -30,100,065 -30,274,707 -30,411,831 -30,442,534 -30,252,754 -29,700,566 -28,678,129 -27,201,538 -25,454,450 -25,174,989 -25,166,548 -24,107,156 -23,451,738 75,402,025 +PPA revenue ($) 0 0 0 46,507,291 47,120,779 47,591,288 47,986,801 48,349,933 48,695,170 49,029,150 49,355,435 49,676,122 49,992,575 50,303,028 50,598,186 50,839,821 50,905,117 50,524,249 49,251,791 46,533,916 41,949,038 35,556,882 28,067,952 20,591,516 14,115,450 9,140,358 5,674,549 3,509,777 +Electricity to grid (kWh) 0 0 0 489,550,430 496,008,198 497,973,086 499,134,605 499,947,603 500,567,126 501,064,383 501,477,694 501,829,698 502,135,142 502,377,193 502,464,611 502,022,520 499,853,861 493,352,693 478,265,598 449,385,959 402,891,262 339,639,716 266,653,539 194,571,636 132,664,005 85,447,863 52,766,865 32,464,872 -Present value of annual costs ($) 1,329,495,308 +Present value of annual costs ($) 165,154,310 -Present value of annual energy costs ($) 1,329,495,308 -Present value of annual energy nominal (kWh) 34,643,496,619 -LCOE Levelized cost of energy nominal (cents/kWh) 3.84 +Present value of annual energy costs ($) 165,154,310 +Present value of annual energy nominal (kWh) 2,624,579,544 +LCOE Levelized cost of energy nominal (cents/kWh) 6.29 -Present value of PPA revenue ($) 3,420,154,869 -Present value of annual energy nominal (kWh) 34,643,496,619 -LPPA Levelized PPA price nominal (cents/kWh) 9.87 +Present value of PPA revenue ($) 256,497,827 +Present value of annual energy nominal (kWh) 2,624,579,544 +LPPA Levelized PPA price nominal (cents/kWh) 9.77 PROJECT STATE INCOME TAXES -EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 -State taxable PBI income ($) 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 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State taxable IBI income ($) 0 -State taxable CBI income ($) 0 +EBITDA ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 +State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest earned on reserves ($) 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 +State taxable IBI income ($) 0 +State taxable CBI income ($) 0 minus: -Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981 -Total state tax depreciation ($) 0 27,502,437 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 27,502,437 0 0 0 0 +Debt interest payment ($) 0 13,127,003 12,919,458 12,697,385 12,459,767 12,205,516 11,933,467 11,642,375 11,330,906 10,997,635 10,641,034 10,259,472 9,851,200 9,414,349 8,946,919 8,446,768 7,911,607 7,338,985 6,726,279 6,070,684 5,369,197 4,618,605 3,815,473 2,956,121 2,036,615 1,052,743 +Total state tax depreciation ($) 0 5,640,138 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 5,640,138 0 0 0 0 equals: -State taxable income ($) 0 244,598,578 221,578,466 225,678,902 229,257,049 232,022,810 232,516,518 228,038,613 215,301,761 212,095,104 244,822,017 250,372,919 254,776,925 258,676,364 261,385,282 260,918,842 254,117,588 237,632,946 256,005,867 278,758,623 284,490,878 317,029,938 348,973,211 351,673,883 350,092,166 891,607,685 +State taxable income ($) 0 19,090,262 14,271,157 14,963,739 15,596,870 16,214,253 16,831,539 17,456,611 18,094,364 18,748,323 19,421,376 20,113,392 20,816,822 21,495,307 22,028,034 22,147,317 21,410,020 19,264,767 15,292,595 9,556,034 2,768,591 1,682,885 1,650,089 -2,465,651 -5,011,954 126,516,275 -State income tax rate (frac) 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 -State tax benefit (liability) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State income tax rate (frac) 0.0 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.06 +State tax benefit (liability) ($) 0 -1,145,416 -856,269 -897,824 -935,812 -972,855 -1,009,892 -1,047,397 -1,085,662 -1,124,899 -1,165,283 -1,206,804 -1,249,009 -1,289,718 -1,321,682 -1,328,839 -1,284,601 -1,155,886 -917,556 -573,362 -166,115 -100,973 -99,005 147,939 300,717 -7,590,977 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 -Interest earned on reserves ($) 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 -State tax benefit (liability) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC total income ($) 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 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal taxable IBI income ($) 0 -Federal taxable CBI income ($) 0 -Federal taxable PBI income ($) 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 +EBITDA ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 +Interest earned on reserves ($) 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 +State tax benefit (liability) ($) 0 -1,145,416 -856,269 -897,824 -935,812 -972,855 -1,009,892 -1,047,397 -1,085,662 -1,124,899 -1,165,283 -1,206,804 -1,249,009 -1,289,718 -1,321,682 -1,328,839 -1,284,601 -1,155,886 -917,556 -573,362 -166,115 -100,973 -99,005 147,939 300,717 -7,590,977 +State ITC total income ($) 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 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal taxable IBI income ($) 0 +Federal taxable CBI income ($) 0 +Federal taxable PBI income ($) 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 minus: -Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981 -Total federal tax depreciation ($) 0 27,502,437 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 55,004,874 27,502,437 0 0 0 0 +Debt interest payment ($) 0 13,127,003 12,919,458 12,697,385 12,459,767 12,205,516 11,933,467 11,642,375 11,330,906 10,997,635 10,641,034 10,259,472 9,851,200 9,414,349 8,946,919 8,446,768 7,911,607 7,338,985 6,726,279 6,070,684 5,369,197 4,618,605 3,815,473 2,956,121 2,036,615 1,052,743 +Total federal tax depreciation ($) 0 5,640,138 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 11,280,276 5,640,138 0 0 0 0 equals: -Federal taxable income ($) 0 244,598,578 221,578,466 225,678,902 229,257,049 232,022,810 232,516,518 228,038,613 215,301,761 212,095,104 244,822,017 250,372,919 254,776,925 258,676,364 261,385,282 260,918,842 254,117,588 237,632,946 256,005,867 278,758,623 284,490,878 317,029,938 348,973,211 351,673,883 350,092,166 891,607,685 +Federal taxable income ($) 0 17,944,847 13,414,888 14,065,915 14,661,058 15,241,398 15,821,647 16,409,214 17,008,703 17,623,424 18,256,094 18,906,589 19,567,813 20,205,589 20,706,352 20,818,478 20,125,419 18,108,881 14,375,040 8,982,672 2,602,476 1,581,912 1,551,084 -2,317,712 -4,711,237 118,925,299 -Federal income tax rate (frac) 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 -Federal tax benefit (liability) ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 -3,768,418 -2,817,126 -2,953,842 -3,078,822 -3,200,694 -3,322,546 -3,445,935 -3,571,828 -3,700,919 -3,833,780 -3,970,384 -4,109,241 -4,243,174 -4,348,334 -4,371,880 -4,226,338 -3,802,865 -3,018,758 -1,886,361 -546,520 -332,201 -325,728 486,720 989,360 -24,974,313 CASH INCENTIVES -Federal IBI income ($) 0 -State IBI income ($) 0 -Utility IBI income ($) 0 -Other IBI income ($) 0 -Total IBI income ($) 0 - -Federal CBI income ($) 0 -State CBI income ($) 0 -Utility CBI income ($) 0 -Other CBI income ($) 0 -Total CBI income ($) 0 - -Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PBI income ($) 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 -Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Other PBI income ($) 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 -Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal IBI income ($) 0 +State IBI income ($) 0 +Utility IBI income ($) 0 +Other IBI income ($) 0 +Total IBI income ($) 0 + +Federal CBI income ($) 0 +State CBI income ($) 0 +Utility CBI income ($) 0 +Other CBI income ($) 0 +Total CBI income ($) 0 + +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 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 TAX CREDITS -Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 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 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 -Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC percent income ($) 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 -Federal ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC amount income ($) 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 +Federal ITC percent income ($) 0 79,625,477 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC total income ($) 0 79,625,477 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC percent income ($) 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 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC amount income ($) 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 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 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 DEBT REPAYMENT -Debt balance ($) 660,058,494 647,333,565 633,896,041 619,706,016 604,721,348 588,897,540 572,187,598 554,541,900 535,908,042 516,230,689 495,451,403 473,508,478 450,336,749 425,867,403 400,027,773 372,741,125 343,926,424 313,498,100 281,365,789 247,434,069 211,602,173 173,763,691 133,806,254 91,611,200 47,053,223 0 -Debt interest payment ($) 0 36,963,276 36,250,680 35,498,178 34,703,537 33,864,396 32,978,262 32,042,506 31,054,346 30,010,850 28,908,919 27,745,279 26,516,475 25,218,858 23,848,575 22,401,555 20,873,503 19,259,880 17,555,894 15,756,484 13,856,308 11,849,722 9,730,767 7,493,150 5,130,227 2,634,981 -Debt principal payment ($) 0 12,724,928 13,437,524 14,190,026 14,984,667 15,823,808 16,709,942 17,645,698 18,633,858 19,677,354 20,779,285 21,942,925 23,171,729 24,469,346 25,839,629 27,286,649 28,814,701 30,428,324 32,132,310 33,931,720 35,831,896 37,838,482 39,957,437 42,195,054 44,557,977 47,053,223 -Debt total payment ($) 0 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 +Debt balance ($) 187,528,608 184,563,684 181,391,215 177,996,673 174,364,513 170,478,103 166,319,643 161,870,091 157,109,070 152,014,779 146,563,886 140,731,431 134,490,705 127,813,127 120,668,119 113,022,961 104,842,641 96,089,699 86,724,051 76,702,808 65,980,077 54,506,756 42,230,302 29,094,496 15,039,184 0 +Debt interest payment ($) 0 13,127,003 12,919,458 12,697,385 12,459,767 12,205,516 11,933,467 11,642,375 11,330,906 10,997,635 10,641,034 10,259,472 9,851,200 9,414,349 8,946,919 8,446,768 7,911,607 7,338,985 6,726,279 6,070,684 5,369,197 4,618,605 3,815,473 2,956,121 2,036,615 1,052,743 +Debt principal payment ($) 0 2,964,924 3,172,469 3,394,542 3,632,160 3,886,411 4,158,460 4,449,552 4,761,021 5,094,292 5,450,892 5,832,455 6,240,727 6,677,578 7,145,008 7,645,159 8,180,320 8,752,942 9,365,648 10,021,243 10,722,730 11,473,321 12,276,454 13,135,806 14,055,312 15,039,184 +Debt total payment ($) 0 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 DSCR (DEBT FRACTION) -EBITDA ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 +EBITDA ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 minus: -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 funding ($) 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 -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables funding ($) 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 +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 funding ($) 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 +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables funding ($) 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 equals: -Cash available for debt service (CAFDS) ($) 0 309,064,291 312,834,021 316,181,954 318,965,461 320,892,080 320,499,654 315,085,993 301,360,982 297,110,829 328,735,810 333,123,072 336,298,274 338,900,097 340,238,731 338,325,272 329,995,965 311,897,700 328,566,635 349,519,982 353,352,060 356,382,097 358,703,977 359,167,033 355,222,393 894,242,666 -Debt total payment ($) 0 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 49,688,204 -DSCR (pre-tax) 0.0 6.22 6.30 6.36 6.42 6.46 6.45 6.34 6.07 5.98 6.62 6.70 6.77 6.82 6.85 6.81 6.64 6.28 6.61 7.03 7.11 7.17 7.22 7.23 7.15 18.0 +Cash available for debt service (CAFDS) ($) 0 37,857,403 38,470,891 38,941,400 39,336,913 39,700,045 40,045,282 40,379,262 40,705,547 41,026,234 41,342,687 41,653,140 41,948,298 42,189,933 42,255,229 41,874,361 40,601,903 37,884,028 33,299,150 26,906,994 19,418,064 11,941,628 5,465,562 490,470 -2,975,339 127,569,018 +Debt total payment ($) 0 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 16,091,927 +DSCR (pre-tax) 0.0 2.35 2.39 2.42 2.44 2.47 2.49 2.51 2.53 2.55 2.57 2.59 2.61 2.62 2.63 2.60 2.52 2.35 2.07 1.67 1.21 0.74 0.34 0.03 -0.18 7.93 RESERVES -Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital disbursement ($) 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 -Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves debt service funding ($) 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 -Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service balance ($) 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 - -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables disbursement ($) 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 -Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves major equipment 1 funding ($) 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 -Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 balance ($) 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 - -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 disbursement ($) 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 -Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves major equipment 3 funding ($) 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 -Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 balance ($) 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 - -Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Interest on reserves (%/year) 1.75 -Interest earned on reserves ($) 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 ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- +Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital disbursement ($) 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 +Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves debt service funding ($) 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 +Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service balance ($) 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 + +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables disbursement ($) 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 +Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 1 funding ($) 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 +Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 balance ($) 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 + +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 disbursement ($) 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 +Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 3 funding ($) 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 +Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 balance ($) 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 + +Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Interest on reserves (%/year) 1.75 +Interest earned on reserves ($) 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 +------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ diff --git a/tests/examples/example_SHR-3.txt b/tests/examples/example_SHR-3.txt index d4a520295..c3f9599c0 100644 --- a/tests/examples/example_SHR-3.txt +++ b/tests/examples/example_SHR-3.txt @@ -1,67 +1,114 @@ -# Example: Superhot Rock (SHR) 3 -# SHR LCOE Analysis: https://scientificwebservices.com/shr/VERTICAL_LARGE_IDEAL_ADJUSTED/graphs/graphs.html -# NOAK: Adjusted VERTICAL_LARGE_IDEAL Correlation drilling and completion cost model -# BHT = 450.0 C -# Gradient = 112.0 C/km - -Reservoir Model, 1 -Reservoir Density, 2800 -Reservoir Heat Capacity, 790 -Reservoir Thermal Conductivity, 3.05 -Reservoir Porosity, 0.0118 -Reservoir Volume Option, 1 -Fracture Shape, 3 +# Example: Superhot Rock 3: Newberry Volcano NOAK SHR Scenario +# Adapted from: +# Super Hot EGS and the Newberry Deep Drilling Project (Cladouhos et al., 2018). +# https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2018/Cladouhos.pdf +# and +# Techno-Economic Viability of Next Generation Geothermal Resources Across the Temperature Spectrum: +# A Comparative Analysis with Superhot Rock (Pezzino, 2026). +# https://scientificwebservices.com/shr + + +# ******************** RESERVOIR ******************** +Reservoir Model, 1, -- Multiple Parallel Fractures Model (Gringarten et al., 1975) + +Reservoir Depth, 4 +Reservoir Density, 2700 +Reservoir Heat Capacity, 1000 +Reservoir Thermal Conductivity, 2.7 + +Reservoir Volume Option, 1, -- FRAC_NUM_SEP: calculate heat-in-place based on realistic fracture geometry. Number of Fractures calculated in code. +Fracture Shape, 4, -- Bench design and fracture geometry in Singh et al., 2025 are given in rectangular dimensions. +Fracture Separation, 9.8255 +Fracture Width, 305 +Fracture Height, 100 +Number of Fractures per Stimulated Well, 150 + Number of Segments, 1 +Gradient 1, 112 Maximum Temperature, 600 -Injectivity Index, 5.482 -Productivity Index, 4.569 -Maximum Drawdown, 0.0531 -Production Well Diameter, 9.625 -Injection Well Diameter, 9.625 -Injection Temperature, 60 + +# ******************** WELL BORES ******************** +Number of Production Wells, 2 +Number of Injection Wells per Production Well, 0.5 + +Well Geometry Configuration, 4, -- L (required for lateral costing) + +# Production Wellhead Pressure, 325 psi + +Maximum Drawdown, 1 + +Production Well Diameter, 8.535, -- Inner diameter of 9⅝ inch casing size, the next standard casing size up from 7 inches, implied by announcement of “increasing casing diameter” (Fervo Energy, 2025). +Injection Well Diameter, 8.535 + +Injectivity Index, 2.185875, -- Derated 27.5% from NREL 2024b ATB conservative scenario +Productivity Index, 1.80815, -- Derated 27.5% from NREL 2024b ATB conservative scenario + +Injection Temperature, 50 Injection Wellbore Temperature Gain, 3 -Ramey Production Wellbore Model, 1 -End-Use Option, 1 -Utilization Factor, .9 -Water Loss Fraction, 0.2375 -Ambient Temperature, 10 +Ramey Production Wellbore Model, True + +Production Flow Rate per Well, 60 + +# ******************** SURFACE & PLANT ******************** +End-Use Option, 1, -- Electricity +Power Plant Type, 4, -- Double-Flash + +Water Loss Fraction, 0.2375, -- Average of 14.5-33% range (Clark et al., 2010) +# Range given in Clark et al., 2010: https://www.energy.gov/eere/geothermal/articles/water-use-development-and-operations-geothermal-power-plants-0 + +Ambient Temperature, 2, -- Estimated temperature near Newberry Volcano +Surface Temperature, 2 + Plant Lifetime, 25 Circulation Pump Efficiency, 0.80 Plant Outlet Pressure, 1 atm -Economic Model, 5 -Starting Electricity Sale Price, 0.095 -Electricity Escalation Rate Per Year, 0.00057 +Utilization Factor, .9 + +Construction Years, 3, -- Matches Fervo_Project_Cape-6 +Construction CAPEX Schedule, 0.0258, 0.256, 0.7182, -- Derived from Fervo_Project_Cape-6 + +Project Latitude, 43.812139, -- Newberry National Volcanic Monument +Project Longitude, -121.281671, -- Newberry National Volcanic Monument + +# ******************** ECONOMICS ******************** +Economic Model, 5, -- SAM Single Owner PPA + +Starting Electricity Sale Price, 0.095, -- Upper end of ranges given in NREL Annual Technology Baseline (ATB) (NREL, 2024) +# NREL ATB: https://atb.nrel.gov/electricity/2024/geothermal +Electricity Escalation Rate Per Year, 0.00057, -- Conservatively calibrated to escalate to 10 cents/kWh at Year 11 (as opposed to calibrating to inflation which would escalate more quickly) Electricity Escalation Start Year, 1 Ending Electricity Sale Price, 0.15 -Fraction of Investment in Bonds, .6 -Combined Income Tax Rate, 0 -Inflated Bond Interest Rate, .056 -Inflation Rate, .023 -Property Tax Rate, 0 -Reservoir Stimulation Capital Cost per Injection Well, 4 -Reservoir Stimulation Capital Cost per Production Well, 4 -Reservoir Stimulation Indirect Capital Cost Percentage, 0 -Field Gathering System Capital Cost Adjustment Factor, 0.339 -Time steps per year, 12 -Print Output to Console, 0 -Surface Temperature, 12 -Reservoir Depth, 3.91 -Gradient 1, 112 -Production Tax Credit Electricity, 0 -Investment Tax Credit Rate, 0 -Power Plant Type, 4 -Discount Rate, 0.075 -Number of Injection Wells, 12 -Number of Production Wells, 12 -Number of Fractures, 960 -Production Flow Rate per Well, 80 -Fracture Separation, 18 -Fracture Height, 224 m -Well Geometry Configuration, 4 -Number of Multilateral Sections, 24 -Nonvertical Length per Multilateral Section, 1440 m + +Discount Rate, 0.105 +Fraction of Investment in Bonds, .7, -- https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ suggests a long-term target of 85% debt; the value we use may be calibrated towards this in the future. +Inflated Bond Interest Rate, .07, -- 2024b ATB (NREL) + +Inflated Bond Interest Rate During Construction, 0.105, -- Higher than interest rate during normal operation to account for increased risk of default prior to COD +Bond Financing Start Year, -2 yr, -- Equity-only for first 2 construction years (ATB) + +Inflation Rate, .027, -- US inflation as of December 2025. + +Combined Income Tax Rate, 0.2700, -- Estimated effective combined federal and Oregon state income tax rate +Property Tax Rate, 0.0081, -- Estimated effective Oregon property tax rate +Investment Tax Credit Rate, 0.3 + +Reservoir Stimulation Capital Cost per Injection Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. +Reservoir Stimulation Capital Cost per Production Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. Reservoir Stimulation Capital Cost Adjustment Factor, 1.8162293703140313 -All-in Nonvertical Drilling Costs, 1299.2629411805556 -Surface Plant Capital Cost, 664.94 + +Field Gathering System Capital Cost Adjustment Factor, 0.339, -- Gathering costs represent 2% of facilities CAPEX per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ + Well Drilling Cost Correlation, 16 Well Drilling and Completion Capital Cost Adjustment Factor, 1.8162293703140313 + +Capital Cost for Power Plant for Electricity Generation, 2280 + +Total O&M Cost, 6.5 + +# ******************** OTHER ******************** +Time steps per year, 12 + +Do Carbon Price Calculations, True +Units:Total Saved Carbon Production, kilotonne + +Print Output to Console, 0