70MW WIND/SOLAR HYBRID – PPA NEGOTIATIONS ONGOING– $103m TOTAL INVESTMENT COST
Project type: WIND/SOLAR/BESS HYBRID
Investment cost: US$103 Million
EPC cost/status $80m/ EPC ALREADY ASSIGNED TO TIER 1 U.S MANUFACTURER.
Land/Grid Connection status: Exclusivity with land aggregator for 30 wind turbine sites and 200 acres for SOLAR. Application for grid connection submitted and reserved for 30MW and 40MW (2 substations)
Project Stage: PPA negotiations ongoing
PPA (date/tariff/term) : PPA expected in 2021 / Tariff expected to be $0.06/kwh (2% escalation annually) / 25 year term
Annual Sales/Cash flow(est) : $17.5m/ $11m (EBIT)
BOOT/BOO : BOO
Technology: All equipment supplied by Tier 1 U.S strategic partners and the Solar panels are PV Mono-perc. 62.1MW will be from Wind using 23 2.7MW turbines. The remaining power will be provided by Solar which reaches 65.7MWp. There is 53.1MWh battery storage capacity also being installed.
Project Details: The founder of this 70MW hybrid project has partnered with a leading global tier 1 equipment supplier who has already undertaken feasibility studies and a comprehensive internal due diligence report advocating this project as highly viable. They are now looking for financial partners as they undertake PPA negotiations with several counterparties in Gujarat.
Debt finance: Local bank interest rate is 10%.
Project IRR/Payback Period - 12% / 7 years