financial statements varias park srl - atr

Varias Park SRL 4.669.440 Wp

Financial Statements

Varias Park 4.669.440 Wp

Av. Catalunya, 65. – 25300 Tàrrega, Lleida. Telf +34 973 31 47 20 - Fax +34 973 31 35 72www.inversolar65.com [email protected]

ISO 9001 ISO14001

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Varias Park SRL 4.669.440 Wp2

Contents1. Project Framework 2. Romanian Legislation3. Installation Details

1. Plant locationInstallationt type

2. Implantation Layout

4. Meteorological 1. Local Radiation and Energy Production


Contents1. Financials

1. Financials Statements2. Project Features3. Resum Results

1. Investment1. Especific Cost

2. Net Production3. Incomes4. Opex Costs5. DSCR6. IRR7. Payback

4. Financial Study – Cash Flow 5. Exclusions from the analysis


Project framework� This report presents the technical and economic conditions for a

several photovoltaic power plant in Romania.� Romanian Legislation

� The Romanian legislation with reference to the remuneration forelectricity generation is based on two different concepts:� Law 13/2007 guarantees that the utility must purchase all energy from

renewable sources at a price rgulated by the public agency ANRE(REGLAMENTARE AUTOITATEA IN NATIONAL DE DOMENIUL ENERGIE).This price varies according to market change and the CPI, currently thisvalues is of 0,037€kWh.

� Law 220/2008 states for 1MWh of electricity generted by renewable energysources receive a Green Bond Certificate. These green bonds can be sold tothe market. The Law determines a minium price of 27€/GB and a maximumprice of 55€/GB. Companies generating electricity with no renewable systemsmust buy these bonds in this market to compensate for their contribution.


Romanian legislation

� Law 139/2010 (Law 220/2008 republished) determines quantity ofgreen bonds for 1MWh generated by photovoltaic technology. This lawmarks a total of 6 green bonds per MWh produced.

� Law 220/2008 officially published in October 19, 2011. (Monitorul Oficialal Romanei).


Installation Details

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Location� Surface: 12 Ha� Location: Iratos� Country: Romania


Location (2)


Installation type� The plant is ground mounted and of fixed configuration

installed and oriented to the south sith a tilt of 35º and azimuthof 0º. The aproximate layout of the plant is showed in thefollowing picture.


Tilt and Azimuth angles

� The modules will be disposed horizontally, in a 3 modulesstacked configuration, with a 35º tilt and 0º azimuth. Thedistance between two consecutive rows will be of 4,25 m(begin to begin), the plot is considered flat and without anysurrounding obstacles, ensuring the absence of shadows.


Meteorological

Data Bases:

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Meteorological data and Production Estimates

� Local Radiation and energy production


Financials

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Financials� Financial statements

• The study carried on is based on the cash flow analysis method and isused to determine IRR and Pay Back for the project analysed. In thefollowing table are summarized the values and premises used for thefinancial analysis:


Financials

• Project Features.

• Purchase license or purchase of the shares of the company:– Total of Project: 1.177.500 €

• Total Project Cost:– Construction “turn-key” : 1,2 €/Wp

• All financial analysis have been made from these cost estimates


Financials� The results obtained from the analysis, are detailed in the

following table:


Basic Cash

17


Financials


Financials (2)

• .


Financials

� Exclusions from the analysis� The analysis not includes:

� VAT tax� Any other taxor levy legally enforceable

ATR – Enel Distributie


financial statements varias park srl - atr

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