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									    CC-Plant-Investment Cost                                                                       16-Sep-12         15:43
    Quelle: Fichtner/EIL Feasibility-Report, Jan.1996
                                                                   all cost in million units                                                                                    kWe
                     Cost component Local Cost Local Cost Forex Cost Forex Cost Total Cost Total Cost Total Cost                                                               97800
                                           in Rs.       in US$         in US$         in Rs.         in Rs         in US$          in DM      forex %                      US$/kWe
1  Power Block                              1,850.00         57.61          33.23      1,067.00       2,917.00          90.84         132.59           37%                           929
2  Solar Field                                  0.00                                                                                     0.00
3  Ocean freight                                              0.00           1.66          53.35          53.35          1.66            2.42         100%
4  Inland transport                            88.99          2.77           0.00           0.00          88.99          2.77            4.04            0%
5  Insurance                                   19.39          0.60           0.35          11.20          30.59          0.95            1.39          37%
6                                 Total     1,958.38         60.99          35.24      1,131.55       3,089.93          96.23         140.45           37%
7a Eng./Proj. Mgm./Constr. S. Power Bl.       160.00          4.98                          0.00        160.00           4.98            7.27 inkl. Eng./...                         980      95.827
7b
7  Land Development                             5.00          0.16                          0.00           5.00          0.16            0.23
8  Raw Water Intake/Pipeline                   95.00          2.96                          0.00          95.00          2.96            4.32
9  Railway Siding/ Unloading Gantry            20.00          0.62                          0.00          20.00          0.62            0.91
10 Construction Site facilities                10.00          0.31                          0.00          10.00          0.31            0.45
11 Township                                    50.00          1.56                          0.00          50.00          1.56            2.27
12                            Sub-Total       340.00         10.59           0.00           0.00        340.00          10.59          15.45
13 Owner's Expenses                            17.00          0.53                          0.00          17.00          0.53            0.77
14 Start-up/ Commissioning                     17.00          0.53                          0.00          17.00          0.53            0.77
15 Implementation Consultant                   24.38          0.76           1.05          33.72          58.09          1.81            2.64
16         Total excl . Taxes / Duties      2,356.75         73.40          36.29      1,165.27       3,522.02        109.69          160.09
17 Taxes                                      246.97          7.69           0.00           0.00        246.97           7.69          11.23
18 Duties                                     248.94          7.75           0.00           0.00        248.94           7.75          11.32
19           Total incl. Taxes / Duties     2,852.67         88.84          36.29      1,165.27       4,017.94        125.13          182.63
20 Physical Contingencies                     285.27          8.88           3.63        116.53         401.79          12.51          18.26
21                                Total     3,137.94         97.72          39.92      1,281.80       4,419.73        137.64          200.90
22 Price Contingencies                        439.31         13.68           0.80          25.64        464.95          14.48          21.13
23                        Grand Total       3,577.25        111.41          40.72      1,307.43       4,884.68        152.12          222.03
24                                 IDC        321.24         10.00           0.00           0.00        321.24          10.00          14.60
25             Grand Total incl. IDC        3,898.49        121.41          40.72      1,307.43       5,205.92        162.13          236.63
                                                                                                           0.00
                                        Exchange rates:                           Assumptions of Analysis
                                        1 US$ = Rs.          32.11                financial      imports        domestic        indirect cost
                                        1 US$ = DM            1.46                  Phys. Cont.          10.0%         10.0% ocean freight               5%
                                        1 DM = Rs.           22.00                   Price Cont.          2.0%         14.0%dom. transport               3%
                                                                                                 Excise tax              14%      insurance              1%
   Subcontracted Work                   Percentage of Total         Subc. Work Central sales T. /SC.W.T.                  4% port handling               2%
                                             %           in Rs          in Rs                    Import duty             22%
   Powerblock                                   36%       1,850.00            662
   Solar Field
   Others                                         0%        340.00              0
                                                                       Interest                                    Constr.                                   Modelling of IDC            KfW         Local
   Financing                                              US$            Rate       Moratorium      Tenure      constr. Period IDC-Factor IDC in US$ period (3y)           disbursement IDC          IDC
                                 Equity          500         15.57                     years         years                                                           2.75         7.50%       2.23%        1.24%
                              GOI-Grant          500         15.57                                                                                                   2.25         7.50%       1.83%        1.01%
             German Combined Loan            24.00%          41.11                                                                                                   1.75        30.00%       5.69%        3.15%
                 Loan portion for PEA          100%          41.11       13%             4             15                 2.5        15.17%            6.23          1.25        30.00%       4.06%        2.25%
                 Grant portion for PEA            0%          0.00                                                                                                   0.75        12.50%       1.02%        0.56%
                             GEF Grant                       45.00                                                                                                   0.25        12.50%       0.34%        0.19%
                       Local Financing                       44.88       18%             0              7                   1         8.40%            3.77                        Total     15.17%        8.40%
   Grand Total Financing                                    162.13
   Adjust local financing!                    Error=       -0.0010
     Project Cost & Financing based upon best estimate 1996                                          16-Sep-12            15:43
     Quelle: Fichtner/EIL Feasibility-Report, Jan.1996
                                                                      all cost in million units                                                                       m²         kWe     absolute
                          Cost component Local Cost Local Cost Forex Cost Forex Cost Total Cost                     Total Cost     Total Cost                       219090      139200   Investment
                                                in Rs.     in US$         in US$         in Rs.        in Rs         in US$           in DM       forex %         US$/m²      US$/kWe    Million US$
1    Power Block                                2,866.00       89.26           24.60        789.91      3,655.91          113.86          166.18           22%                       818       113.856
2    Solar Field                                  968.00       30.15           29.96        962.00      1,930.00           60.11           87.73           50%            274                   60.106
3    Ocean freight                                               0.00           2.73         87.60          87.60           2.73             3.98        100%
4    Inland transport                             171.18         5.33           0.00          0.00        171.18            5.33             7.78           0%
5    Insurance                                     40.05         1.25           0.57         18.40          58.45           1.82             2.66          31%
6                                      Total    4,045.23      125.98           57.86      1,857.90      5,903.12          183.84          268.32           31%
7a   Engineering, Proj.Manag. Power Bl.            80.40         2.50           7.53        241.80        322.20           10.03           14.65                                       890      123.890
7b   Engineering, Proj.Manag. Solar Field          53.60         1.67           5.02        161.20        214.80            6.69             9.76                         305                    66.795
7    Land Development                              16.00         0.50                         0.00          16.00           0.50             0.73
8    Raw Water Intake/Pipeline                    235.00         7.32                         0.00        235.00            7.32           10.68                  Engineering cost are
9    Railway Siding/ Unloading Gantry             100.00         3.11                         0.00        100.00            3.11             4.55                 assumed 60% Powerblock
10   Construction Site facilities                  50.00         1.56                         0.00          50.00           1.56             2.27                 assumed 40% Solar Field
11   Township                                      29.00         0.90                         0.00          29.00           0.90             1.32
12                                 Sub-Total      564.00       17.56           12.55        403.00        967.00           30.12           43.95
13   Owner's Expenses                              35.00         1.09                         0.00          35.00           1.09             1.59
14   Start-up/ Commissioning                       66.00         2.06                         0.00          66.00           2.06             3.00
15   Implementation Consultant                       0.00        0.00           0.00          0.00           0.00           0.00             0.00
16              Total excl . Taxes / Duties     4,710.23      146.69           70.41      2,260.90      6,971.12          217.10          316.87
17   Taxes                                        559.00       17.41            0.00          0.00        559.00           17.41           25.41
18   Duties                                       408.74       12.73            0.00          0.00        408.74           12.73           18.58
19                Total incl. Taxes / Duties    5,677.97      176.83           70.41      2,260.90      7,938.86          247.24          360.86
20   Physical Contingencies                       567.80       17.68            7.04        226.09        793.89           24.72           36.09
21                                     Total    6,245.76      194.51           77.45      2,486.99      8,732.75          271.96          396.94
22   Price Contingencies                          874.41       27.23            1.55         49.74        924.15           28.78           42.01
23                              Grand Total     7,120.17      221.74           79.00      2,536.73      9,656.89          300.74          438.95
24                                      IDC       794.44       24.74            0.00          0.00        794.44           24.74           36.11
25                  Grand Total incl. IDC       7,914.61      246.48           79.00      2,536.73    10,451.33           325.49          475.06
                                                                                                             0.00
                                             Exchange rates:                         Assumptions of Analysis
                                             1 US$ = Rs.       32.11                 financial     imports        domestic          indirect cost
                                             1 US$ = DM          1.46                  Phys. Cont.         10.0%          10.0% ocean freight               5%
                                             1 DM = Rs.        22.00                   Price Cont.          2.0%          14.0% dom. transport              3%
                                                                                                   Excise tax               14%        insurance            1%
     Subcontracted Work                      Percentage of Total       Subc. Work Central sales T. /SC.W.T.                  4% port handling               2%
                                                  %         in Rs          in Rs                   Import duty              22%
     Powerblock                                     23%     2,866.00             662
     Solar Field                                    40%       968.00             386
     Others                                           0%      564.00               0
                                                                          Interest                                   Constr.                                      Modelling of IDC            KfW        Local
     Financing                                               US$            Rate      Moratorium      Tenure      constr. Period IDC-Factor       IDC in US$      period (3y)   disbursement IDC         IDC
                                      Equity         500       15.57                      years        years                                                               2.75        7.50%       2.23%       1.24%
                                  GOI-Grant          500       15.57                                                                                                       2.25        7.50%       1.83%       1.01%
                  German Combined Loan          100.00%       171.29                                                                                                       1.75      30.00%        5.69%       3.15%
                      Loan portion for PEA          70%       119.90        13%             4            15                   2.5        15.17%           18.18            1.25      30.00%        4.06%       2.25%
                      Grant portion for PEA         30%        51.39                                                                                                       0.75      12.50%        1.02%       0.56%
                                  GEF Grant                    45.00                                                                                                       0.25      12.50%        0.34%       0.19%
                            Local Financing                    78.05        18%             0             7                     1         8.40%            6.56                         Total     15.17%       8.40%
     Grand Total Financing                                    325.48
     Adjust local financing!                       Error=    -0.0061
     CC-Plant-Investment Cost 1999                                                             16-Sep-12            15:43
     Quelle: Fichtner/Brakmann, GTW-Handbuch
                                                                   all cost in million units                                                                     m²            kWe
                       Cost component Local Cost Local Cost Forex Cost Forex Cost Total Cost Total Cost                     Total Cost                         219090         97800
                                             in Rs.     in US$        in US$         in Rs.       in Rs         in US$        in DM         forex %          US$/m²         US$/kWe
1    Power Block                             1,720.00       40.00         30.00       1,290.00    3,010.00           70.00        122.50             43%                           716
2    Solar Field                                  0.00        0.00                        0.00          0.00          0.00           0.00              0%               0
3    Ocean freight                                            0.00          1.50         64.50        64.50           1.50           2.63           100%
4    Inland transport                           101.10        2.35          0.00          0.00      101.10            2.35           4.11              0%
5    Insurance                                   18.21        0.42          0.32         13.55        31.76           0.74           1.29            43%
6                                   Total    1,839.31       42.77         31.82       1,368.05    3,207.36           74.59        130.53             43%
7a   Eng./Proj. Mgm./Constr. S. Power Bl.       180.00        4.19          0.00          0.00      180.00            4.19           7.33   inkl. Eng./...                         759    74.186
7b   Eng./Proj. Mgm./Constr. S. Solar Field       0.00        0.00          0.00          0.00          0.00          0.00           0.00   inkl. Eng./...              0                  0.000
7    Land Development                             5.00        0.12                        0.00          5.00          0.12           0.20
8    Raw Water Intake/Pipeline                   95.00        2.21                        0.00        95.00           2.21           3.87
9    Railway Siding/ Unloading Gantry            20.00        0.47                        0.00        20.00           0.47           0.81
10   Construction Site facilities                10.00        0.23                        0.00        10.00           0.23           0.41
11   Township                                    50.00        1.16                        0.00        50.00           1.16           2.03
12                              Sub-Total       360.00        8.37          0.00          0.00      360.00            8.37         14.65
13   Owner's Expenses                            17.00        0.40                        0.00        17.00           0.40           0.69
14   Start-up/ Commissioning                     17.00        0.40                        0.00        17.00           0.40           0.69
15   Implementation Consultant                   24.38        0.57          1.05         45.15        69.53           1.62           2.83
16          Total excl . Taxes / Duties      2,257.69       52.50         32.87       1,413.20    3,670.88           85.37        149.40
17   Taxes                                      246.43        5.73          0.00          0.00      246.43            5.73         10.03
18   Duties                                     300.97        7.00          0.00          0.00      300.97            7.00         12.25
19             Total incl. Taxes / Duties    2,805.09       65.23         32.87       1,413.20    4,218.28           98.10        171.67
20   Physical Contingencies                     280.51        6.52          3.29        141.32      421.83            9.81         17.17
21                                  Total    3,085.60       71.76         36.15       1,554.51    4,640.11          107.91        188.84
22   Price Contingencies                        392.26        9.12          0.72         31.09      423.35            9.85         17.23
23                          Grand Total      3,477.85       80.88         36.87       1,585.60    5,063.46          117.75        206.07
24                                   IDC        536.47      12.48           0.00          0.00      536.47           12.48         21.83
25               Grand Total incl. IDC       4,014.32       93.36         36.87       1,585.60    5,599.93          130.23        227.90
                                                                                                        0.00
                                          Exchange rates:                        Assumptions of Analysis
                                          1 US$ = Rs.       43.00                financial     imports       domestic       indirect cost
                                          1 US$ = DM          1.75                 Phys. Cont.       10.0%          10.0% ocean freight               5%
                                          1 DM = Rs.        24.57                  Price Cont.         2.0%         14.0% dom. transport              3%
                                                                                               Excise tax             14%     insurance               1%
     Subcontracted Work                   Percentage of Total      Subc. Work Central sales T. /SC.W.T.                 4% port handling              2%
                                                %        in Rs         in Rs                   Import duty            22%
     Powerblock                                   29%    1,720.00           500
     Solar Field                                   0%         0.00             0
     Others                                        0%      360.00              0
                                                                      Interest                                  Constr.                                    Modelling of IDC            KfW        Local
     Financing                                            US$           Rate      Moratorium     Tenure constr. Period IDC-Factor           IDC in US$     period (3y)   disbursement IDC         IDC
                                   Equity          500      11.63                     years       years                                                             2.75        7.50%       2.23%       1.24%
                               GOI-Grant             0        0.00                                                                                                  2.25        7.50%       1.83%       1.01%
               German Combined Loan            26.00%       37.14                                                                                                   1.75      30.00%        5.69%       3.15%
                  Loan portion for PEA           100%       37.14       13%             4           15                  2.5      15.17%               5.63          1.25      30.00%        4.06%       2.25%
                  Grant portion for PEA            0%         0.00                                                                                                  0.75      12.50%        1.02%       0.56%
                               GEF Grant                      0.00                                                                                                  0.25      12.50%        0.34%       0.19%
                         Local Financing                    81.46       18%             0            7                    1       8.40%               6.84                       Total     15.17%       8.40%
     Grand Total Financing                                 130.23
     Adjust local financing!                    Error=    -0.0001
     Project Cost & Financing based upon cost data in DPR of September 1999                            16-Sep-12          15:43                                    CC-Kosten->              0

                                                                         all cost in million units                                                                     m²             kWe
             Cost component                 Local Cost Local Cost        Forex Cost Forex Cost Total Cost Total Cost               Total Cost                        219090          146000
                                               in Rs.    in US$              in US$        in Rs.        in Rs       in US$          in DM         forex %         US$/m²          US$/kW
1    Power Block                               2,282.00      49.13               17.21        799.40    3,081.40          66.34          146.61             26%                           454
2    Solar Field                               1,123.00      24.18               20.50        952.23    2,075.23          44.68           98.74             46%              204
3    Ocean freight                                            0.00                1.89          87.58       87.58           1.89            4.17           100%
4    Inland transport                            157.54       3.39                0.00           0.00     157.54            3.39            7.50             0%
5    Insurance                                    34.05       0.73                0.38          17.52       51.57           1.11            2.45            34%
6                                   Total      3,596.59      77.43               39.97      1,856.73    5,453.32         117.40          259.46             34%
7    Land Development                             36.00       0.78                               0.00       36.00           0.78            1.71
8    Raw Water Intake/Pipeline                   131.00       2.82                               0.00     131.00            2.82            6.23
9    Railway Siding/ Unloading Gantry             70.00       1.51                               0.00       70.00           1.51            3.33
10   Construction Site facilities                 10.00       0.22                               0.00       10.00           0.22            0.48
11   Township                                     70.00       1.51                               0.00       70.00           1.51            3.33
12                              Sub-Total        317.00       6.82                0.00           0.00     317.00            6.82          15.08
13   Owner's Expenses                             35.00       0.75                               0.00       35.00           0.75            1.67
14   Start-up/ Commissioning                      30.00       0.65                               0.00       30.00           0.65            1.43   Part which cannot financed
15   Implementation Consultant                   325.00       7.00                6.00        278.70      603.70          13.00           28.72    from foreign loans or grants
16          Total excl . Taxes / Duties        4,303.59      92.65               45.97      2,135.43    6,439.02         138.62          306.36                  million DM
17   Taxes                                       475.74      10.24                0.00           0.00     475.74          10.24           22.63    Taxes                 22.63
18   Duties                                      408.48       8.79                0.00           0.00     408.48            8.79          19.43    Duties                19.43
19             Total incl. Taxes / Duties      5,187.81     111.69               45.97      2,135.43    7,323.24         157.66          348.43    sub-total             42.07
20   Physical Contingencies                      155.63       3.35                1.38          64.06     219.70            4.73          10.45    phys. Conting.         1.26
21                                  Total      5,343.44     115.04               47.35      2,199.49    7,542.94         162.39          358.88    sub-total             43.33
22   Price Contingencies                         758.77      16.34                3.55        164.96      923.73          19.89           43.95    price conting          5.31
23                          Grand Total        6,102.21     131.37               50.90      2,364.45    8,466.67         182.27          402.83    sub-total             48.64
24                                   IDC         296.89       6.39                0.00           0.00     296.89            6.39          14.13    IDC                   14.13
25              Grand Total incl. IDC          6,399.10     137.76               50.90      2,364.45    8,763.56         188.67          416.95    100% local            62.76
     Tax calculated in DPR:                      474.28                                                      0.00
                                            Exchange rates:                            Assumptions of Analysis
                                    43      1 US$ = Rs.      46.45                     financial      imports     domestic         indirect cost
                                  1.75      1 US$ = DM        2.21                        Phys. Cont.       3.0%           3.0% ocean freight                 5%
                          24.57142857       1 DM = Rs.       21.02                        Price Cont.       7.5%         14.2%dom. transport                  3%
                                                                                                      Excise tax           14%       insurance                1%
     Subcontracted Work                     Percentage of Total          Subc. Work Central sales T. /SC.W.T.                4%
                                                %          in Rs              in Rs                   Import duty          22%
     Powerblock                                   31%      2,282.00                711
     Solar Field                                  32%      1,123.00                362
     Others                                        0%        317.00                  0
                                                                            Interest
     Financing                              Rs             US$                Rate     Moratorium Tenure          constr. Period IDC-Factor        IDC in US$     period (3y)   disbursement KfW           Local
                                 Equity              500        10.76                                                                                                      2.75        7.50%       1.34%           1.24%
                            GOI-Grant                500        10.76                                                                                                      2.25        7.50%       1.10%           1.01%
              German Combined Loan               88.70%        100.34                                                                                                      1.75      30.00%        3.41%           3.15%
                  Loan portion for PEA              70%         70.24            13%               4                         1.5         9.10%               6.39          1.25      30.00%        2.44%           2.25%
                 Grant portion for PEA              30%         30.10                                                                                                      0.75      12.50%        0.61%           0.56%
                            GEF Grant                           45.00                                                                                                      0.25      12.50%        0.20%           0.19%
                       Local Financing                            0.00           18%               0            7              1         8.40%               0.00                                  9.10%           8.40%
     Grand Total Financing                                     166.87
     Adjust local financing!                      Error=     -21.7986




                                                                                0.33            0.13 0.0866667
                                                                                0.33            0.13 0.0433333
                                                                                0.33            0.13           0
                                                                                                            0.13
                                                                                 15%            0.13    0.04875
                                                                                 60%            0.13       0.117
                                                                                 25%            0.13    0.01625
                                                                                                           0.182
                                                                                                     12.783235       536.895882

                                                                               0.075            0.13   0.0268125
                                                                               0.075            0.13   0.0219375
                                                                                  0.3           0.13      0.06825
                                                                                  0.3           0.13      0.04875
                                                                               0.125            0.13   0.0121875
                                                                               0.125            0.13   0.0040625
                                                                                                             0.182
     Project Cost & Financing based upon Cost of DPR of September 1999                                                           16-Sep-12           15:43 CC-Kosten->            0
     Input revised on January 10, 2000 (Engineering/Project Management/Construction supervision is now included in plant erection)
     Except cost other parameters identical to KfW-Appraisal             all cost in million units                                                                m²        kWe     absolute
                 Cost component                 Local Cost Local Cost Forex Cost Forex Cost Total Cost Total Cost Total Cost                                    219090     146000   Investment
                                                   in Rs.      in US$        in US$        in Rs.       in Rs       in US$         in DM       forex %        US$/m²     US$/kWe    Million US$
1    Power Block                                    2,282.00       49.13         17.21       799.40     3,081.40        66.34        146.61            26%                      454        66.338
2    Solar Field                                    1,123.00       24.18         20.50       952.23     2,075.23        44.68          98.74           46%           204                   44.677
3    Ocean freight                                                  0.00          1.89         87.58       87.58          1.89          4.17          100%
4    Inland transport                                 157.54        3.39          0.00          0.00      157.54          3.39          7.50            0%
5    Insurance                                         34.05        0.73          0.38         17.52       51.57          1.11          2.45           34%
6                                         Total     3,596.59       77.43         39.97     1,856.73     5,453.32      117.40         259.46            34%
7a   Eng./Proj. Mgm./Constr. S. Power Bl.             180.00        3.88                        0.00      180.00          3.88          8.56   inkl. Eng./...                   481        70.213
7b   Eng./Proj. Mgm./Constr. S. Solar Field           104.38        2.25          4.50       209.03       313.40          6.75         14.91   inkl. Eng./...        235                   51.424
7    Land Development                                  36.00        0.78                        0.00       36.00          0.78          1.71   but without transport
8    Raw Water Intake/Pipeline                        131.00        2.82                        0.00      131.00          2.82          6.23
9    Railway Siding/ Unloading Gantry                  70.00        1.51                        0.00       70.00          1.51          3.33
10   Construction Site facilities                      10.00        0.22                        0.00       10.00          0.22          0.48
11   Township                                          70.00        1.51                        0.00       70.00          1.51          3.33
12                                    Sub-Total       601.38       12.95          4.50       209.03       810.40        17.45          38.56
13   Owner's Expenses                                  35.00        0.75                        0.00       35.00          0.75          1.67
14   Start-up/ Commissioning                           30.00        0.65                        0.00       30.00          0.65          1.43   Part which cannot financed
15   Implementation Consultant                         40.63        0.87          1.50         69.68      110.30          2.37          5.25   from foreign loans or grants
16                Total excl . Taxes / Duties       4,303.59       92.65         45.97     2,135.43     6,439.02      138.62         306.36                 million DM
17   Taxes                                            475.74       10.24          0.00          0.00      475.74        10.24          22.63   Taxes                22.63
18   Duties                                           408.48        8.79          0.00          0.00      408.48          8.79         19.43   Duties               19.43
19                   Total incl. Taxes / Duties     5,187.81      111.69         45.97     2,135.43     7,323.24      157.66         348.43    sub-total            42.07
20   Physical Contingencies                           518.78       11.17          4.60       213.54       732.32        15.77          34.84   phys. Conting.        4.21
21                                        Total     5,706.59      122.85         50.57     2,348.97     8,055.56      173.42         383.27    sub-total            46.28
22   Price Contingencies                              810.34       17.45          1.01         46.98      857.32        18.46          40.79   price conting         4.92
23                                Grand Total       6,516.93      140.30         51.58     2,395.95     8,912.88      191.88         424.06    sub-total            51.20
24                                         IDC        583.92       12.57          0.00          0.00      583.92        12.57          27.78   IDC                  27.78
25                    Grand Total incl. IDC         7,100.85      152.87         51.58     2,395.95     9,496.80      204.45         451.84    100% local           78.98
     Tax calculated in DPR:                           474.28                                                 0.00
                                                Exchange rates:                        Assumptions of Analysis
                                                1 US$ = Rs.        46.45               financial     imports      domestic     indirect cost
                                                1 US$ = DM          2.21                Phys. Cont.       10.0%        10.0%ocean freight               5%
                                                1 DM = Rs.         21.02                 Price Cont.        2.0%       14.2% dom. transport             3%
                                                                                                     Excise tax          14% insurance                  1%
     Subcontracted Work                         Percentage of Total      Subc. Work Central sales T. /SC.W.T.              4%
                                                      %         in Rs         in Rs                  Import duty         22%
     Powerblock                                         31%     2,282.00           711
     Solar Field                                        32%     1,123.00           362
     Others                                              0%       601.38             0
                                                                            Interest
     Financing                                  Rs           US$              Rate     Moratorium Tenure          constr. Period
                                                                                                                               IDC-Factor      IDC in US$ period (3y)   disbursement KfW        Local
                                         Equity          500       10.76                                                                                           2.75        7.50%      2.23%       1.24%
                                     GOI-Grant           500       10.76                                                                                           2.25        7.50%      1.83%       1.01%
                     German Combined Loan          100.00%        113.12                                                                                           1.75      30.00%       5.69%       3.15%
                         Loan portion for PEA           70%        79.19          13%              4           15          2.5      15.17%           12.01         1.25      30.00%       4.06%       2.25%
                        Grant portion for PEA           30%        33.94                                                                                           0.75      12.50%       1.02%       0.56%
                                    GEF Grant                      45.00                                                                                           0.25      12.50%       0.34%       0.19%
                                Local Financing                     6.68          18%              0            7            1        8.40%           0.56                               15.17%       8.40%
     Grand Total Financing                                        186.33
     Adjust local financing!                          Error=   -18.1213




                                                                                 0.33          0.13   0.0866667
                                                                                 0.33          0.13   0.0433333
                                                                                 0.33          0.13            0
                                                                                                            0.13
     Project Cost & Financing based upon best estimate for Project appraisal                 16-Sep-12       15:43

                                                                   all cost in million units                                                             m²          kWe
                       Cost component Local Cost Local Cost Forex Cost Forex Cost Total Cost Total Cost Total Cost                                     219090       137000
                                             in Rs.     in US$        in US$         in Rs.       in Rs        in US$        in DM       forex %      US$/m²     US$/kWe
1    Power Block                             2,282.00       53.07         37.00       1,591.00    3,873.00         90.07         157.62          41%                       657
2    Solar Field                             1,123.00       26.12         20.50         881.50    2,004.50         46.62          81.58          44%         213
3    Ocean freight                                            0.00          2.88        123.63      123.63          2.88            5.03       100%
4    Inland transport                          193.59         4.50          0.00          0.00      193.59          4.50            7.88          0%
5    Insurance                                  35.99         0.84          0.60         25.96        61.95         1.44            2.52         42%
6                                   Total    3,634.57       84.52         60.98       2,622.09    6,256.66       145.50          254.63          42%
7    Land Development                           36.00         0.84                        0.00        36.00         0.84            1.47
8    Raw Water Intake/Pipeline                 131.00         3.05                        0.00      131.00          3.05            5.33
9    Railway Siding/ Unloading Gantry          100.00         2.33                        0.00      100.00          2.33            4.07
10   Construction Site facilities               10.00         0.23                        0.00        10.00         0.23            0.41
11   Township                                   70.00         1.63                        0.00        70.00         1.63            2.85
12                             Sub-Total       347.00         8.07          0.00          0.00      347.00          8.07          14.12
13   Owner's Expenses                           35.00         0.81                        0.00        35.00         0.81            1.42
14   Start-up/ Commissioning                    30.00         0.70                        0.00        30.00         0.70            1.22
15   Implementation Consultant                  40.63         0.94          1.50         64.50      105.13          2.44            4.28
16         Total excl . Taxes / Duties       4,087.20       95.05         62.48       2,686.59    6,773.78       157.53          275.68
17   Taxes                                     475.74       11.06           0.00          0.00      475.74         11.06          19.36
18   Duties                                    576.86       13.42           0.00          0.00      576.86         13.42          23.48
19             Total incl. Taxes / Duties    5,139.79      119.53         62.48       2,686.59    7,826.38       182.01          318.52
20   Physical Contingencies                    513.98       11.95           6.25        268.66      782.64         18.20          31.85
21                                  Total    5,653.77      131.48         68.73       2,955.24    8,609.02       200.21          350.37
22   Price Contingencies                       791.53       18.41           1.37         59.10      850.63         19.78          34.62
23                          Grand Total      6,445.30      149.89         70.10       3,014.35    9,459.65       219.99          384.99
24                                   IDC       746.99       17.37           0.00          0.00      746.99         17.37          30.40
25              Grand Total incl. IDC        7,192.29      167.26         70.10       3,014.35 10,206.64         237.36          415.39
                                                                                                        0.00
                                          Exchange rates:                        Assumptions of Analysis
                                          1 US$ = Rs.       43.00                financial     imports       domestic      indirect cost
                                          1 US$ = DM          1.75                 Phys. Cont.       10.0%        10.0% ocean freight             5%
                                          1 DM = Rs.        24.57                  Price Cont.         2.0%       14.0% dom. transport            3%
                                                                                               Excise tax           14%       insurance           1%
     Subcontracted Work                   Percentage of Total      Subc. Work Central sales T. /SC.W.T.              4% port handling             2%
                                               %         in Rs         in Rs                   Import duty          22%
     Powerblock                                  31%     2,282.00            711
     Solar Field                                 32%     1,123.00            362
     Others                                        0%      347.00              0
                                                                      Interest                                 Constr.                                Modelling of IDC         KfW     Local
     Financing                                            US$           Rate      Moratorium     Tenure constr. Period   IDC-Factor      IDC in US$ period (3y) disbursement IDC       IDC
                                   Equity         500       11.63                    years        years                                                     2.75        7.50%    2.23%   1.24%
                              GOI-Grant           500       11.63                                                                                           2.25        7.50%    1.83%   1.01%
               German Combined Loan          100.00%       142.86                                                                                           1.75       30.00%    5.69%   3.15%
                  Loan portion for PEA           70%       100.00       13%             4           15               2.5        15.17%          15.17       1.25       30.00%    4.06%   2.25%
                  Grant portion for PEA          30%        42.86                                                                                           0.75       12.50%    1.02%   0.56%
                              GEF Grant                     45.00                                                                                           0.25       12.50%    0.34%   0.19%
                         Local Financing                    26.25       18%             0            7                 1         8.40%           2.21                    Total 15.17%    8.40%
     Grand Total Financing                                 237.36
     This project is over financed!!            Error=     0.0003

                                                       1128.793    45.93925

                                                          11.63   20.348837
                                                          11.63   20.348837
                                                         142.86          250
                                                         100.00          175
                                                          42.86           75
                                                          45.00        78.75
                                                          26.25    45.93925
     CC-Plant-Investment Cost 2000                                                                            16-Sep-12             15:43                                                                                       Anlage zzz                                                                                                                                                                                                                                                                            IRp/US$=            46.45
     Quelle: Fichtner/Brakmann, GTW-Handbuch                                                Überarbeitet gemäß Concept-report vom 30.4.2001 am 5.10.2001: no railway siding                                                     Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen US$)                                                                                                                                            Fichtner daten vom Mai 2001 zu CC       Eingabe=            46.45
                                                                             all cost in million units                                                                       m²           kWe-net
                            Cost component         Local Cost    Local Cost   Forex Cost Forex Cost Total Cost               Total Cost Total Cost                         219090          99500                                Jahre          Ereignis      Lieferung              Transport & Versicherung      Engineering             Consultant             RSPCL      Zölle/Steuern Gesamt-Kosten                                                                       Million US$                             million Irp
                                                     in Rs.        in US$        in US$         in Rs.           in Rs         in US$           in DM     forex %        US$/m²        US$/kWe                                                                  Devisen     Lokal     Devisen         Lokal        Devisen      Lokal      Devisen     Lokal        Lokal        Lokal      Devisen     Lokal                      Kosten Powerblock ohne eng./erection/      lokal         import      Gesamt        lokal          import       Gesamt
1    Power Block                                      1,119.91         24.11          32.69      1,518.45         2,638.36          56.80          125.53          58%                          571                    12.5%            0.00                        4
                                                                                                                                                                                                                                               Liefervertragsabschluß.086     3.014       0.343         0.261           0.000     0.484        0.131     0.066        0.108                     4.561     3.933                    commissioning                                                             0.000             0.000        0.000       0.000
2    Solar Field                                          0.00          0.00                          0.00             0.00          0.00            0.00            0%             0                                  12.5%            0.25   Beginn Bauarbeiten 4.086       3.014                     0.610           0.000     0.484        0.131     0.066        1.668         1.053       4.218     6.896                    Civil and Structural                             4.900                    4.900          227.605         0.000     227.605
3    Ocean freight                                                      0.00           1.63         75.92             75.92          1.63            3.61         100%                                                 15.0%            0.75                        4.904
                                                                                                                                                                                                                                               Erste Lieferungen/Montage      3.617                     0.814           0.000     0.581        0.158     0.079        1.668         2.107       5.061     8.866                    Power Block + BoP (70% Import)                  13.680        31.920     45.600          635.436    1,482.684    2,118.120
4    Inland transport                                    94.52          2.03           0.00           0.00            94.52          2.03            4.50            0%                                                15.0%            1.25   Ende Bauarbeiten     4.904     3.617       1.635         0.610           0.000     0.581        0.158     0.079        0.122         2.107       6.696     7.116                    General Electrical (10% Import)                  3.690         0.410      4.100          171.401       19.045      190.445
5    Insurance                                           12.14          0.26           0.34         15.94             28.09          0.60            1.34          57%                                                 30.0%            1.75   Druckprüfung         9.807     7.233                                     0.000     1.163        0.315     0.157        0.122         2.107     10.122     10.782                    I&C and Communication (30% Import)               0.840         0.360      1.200           39.018       16.722       55.740
6                                         Total       1,226.57         26.41          34.67      1,610.32         2,836.89          61.07          134.97          57%                                                  5.0%            2.25   Inbetriebnahme       1.635     1.206                                     0.000     0.194        0.053     0.026        0.183         1.053       1.687     2.662                    Transformers                                     1.000                    1.000           46.450         0.000      46.450
7a   Eng./Proj. Mgm./Constr. S. Power Bl.               180.00          3.88           0.00           0.00          180.00           3.88            8.56 inkl. Eng./...                        610       60.675        5.0%            2.75   Optimierung          1.635     1.206                                     0.000     0.194        0.053     0.026        0.183         1.053       1.687     2.662                                           Total Powerblock         24.110        32.690     56.800       1,119.910     1,518.451    2,638.360
7b   Eng./Proj. Mgm./Constr. S. Solar Field               0.00          0.00           0.00           0.00             0.00          0.00            0.00 inkl. Eng./...            0                      0.000        5.0%            3.00   Übergabe             1.635     1.206                                     0.000     0.194        0.053     0.026        0.122         1.053       1.687     2.601                    Kosten Solar Field ohne eng./erection/
7    Land Development                                     5.00          0.11                          0.00             5.00          0.11            0.24                                                               1.000                                      32.690    24.110       1.978         2.296           0.000     3.875        1.050     0.525        4.177       10.534      35.718     45.517                    commissioning
8    Raw Water Intake/Pipeline                           95.00          2.05                          0.00            95.00          2.05            4.52                                                                                                                                                                                                                                 Gesamtwert                               Civil & Structural                               0.000                     0.000         0.000         0.000        0.000
9    Railway Siding/ Unloading Gantry                     0.00          0.00                          0.00             0.00          0.00            0.00                                                                                                                                                                                                                                   81.235                                 100% Imported                                                     0.000    0.000         0.000         0.000        0.000
10   Construction Site facilities                        10.00          0.22                          0.00            10.00          0.22            0.48                                                                       Anlage zzz                                                                                                                                                                                         40% Imported                                     0.000            0.000    0.000         0.000         0.000        0.000
11   Township                                            50.00          1.08                          0.00            50.00          1.08            2.38                                                                       Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen DM)                                                                                                  100% lokal                                       0.000                     0.000         0.000         0.000        0.000
12                                   Sub-Total          340.00          7.32           0.00           0.00          340.00           7.32           16.18                                                                                                                                                                                                                                                                                                                                                     0.000         0.000         0.000        0.000
13   Owner's Expenses                                    17.00          0.37                          0.00            17.00          0.37            0.81                                                                       Jahre          Ereignis      Lieferung                Transport & Versicherung    Engineering             Consultant             RSPCL          Zölle/SteuernGesamt-Kosten                                                Total Solar Field         0.000            0.000    0.000         0.000         0.000        0.000
14   Start-up/ Commissioning                             17.00          0.37                          0.00            17.00          0.37            0.81                                                                                                       Devisen     Lokal       Devisen         Lokal      Devisen      Lokal      Devisen     Lokal         Lokal           Lokal      Devisen       Lokal
15   Implementation Consultant                           24.38          0.52           1.05         48.77             73.15          1.57            3.48                                                                               0.00   Liefervertragsabschluß.031
                                                                                                                                                                                                                                                                    9         6.660         0.759         0.578         0.000     1.071        0.290     0.145           0.238              0      10.079       8.692
16                Total excl . Taxes / Duties         1,624.95         34.98          35.72      1,659.09         3,284.04          70.70          156.25                                                                               0.25   Beginn Bauarbeiten 9.031       6.660         0.000         1.349         0.000     1.071        0.290     0.145           3.687          2.328       9.321      15.240
17   Taxes                                              135.06          2.91           0.00           0.00          135.06           2.91            6.43                                                                               0.75   Erste Lieferungen/Montage
                                                                                                                                                                                                                                                                   10.837     7.992         0.000         1.799         0.000     1.285        0.348     0.174           3.687          4.656      11.185      19.593
18   Duties                                             354.27          7.63           0.00           0.00          354.27           7.63           16.86                                                                               1.25   Ende Bauarbeiten 10.837        7.992         3.612         1.349         0.000     1.285        0.348     0.174           0.270          4.656      14.797      15.726
19                   Total incl. Taxes / Duties       2,114.27         45.52          35.72      1,659.09         3,773.36          81.23          179.53                                                                               1.75   Druckprüfung        21.673    15.985         0.000         0.000         0.000     2.569        0.696     0.348           0.270          4.656      22.370      23.828
20   Physical Contingencies                             211.43          4.55           3.57        165.91           377.34           8.12           17.95                                                                               2.25   Inbetriebnahme       3.612     2.664         0.000         0.000         0.000     0.428        0.116     0.058           0.404          2.328       3.728       5.883
21                                        Total       2,325.70         50.07          39.29      1,825.00         4,150.70          89.36          197.48                                                                               2.75   Optimierung          3.612     2.664         0.000         0.000         0.000     0.428        0.116     0.058           0.404          2.328       3.728       5.883
22   Price Contingencies                                278.83          6.00           0.79         36.50           315.33           6.79           15.00                                                                               3.00   Übergabe             3.612     2.664         0.000         0.000         0.000     0.428        0.116     0.058           0.270          2.328       3.728       5.748 Gesamtwert
23                                Grand Total         2,604.54         56.07          40.08      1,861.50         4,466.04          96.15          212.49                                                                                                          72.245    53.283         4.371         5.075         0.000     8.564        2.321     1.160           9.230        23.281       78.936     100.593    179.529
24                                         IDC          363.70          7.83           0.00           0.00          363.70           7.83           17.30                                                                                                                                                                                                        Physical Contingencies             7.894      10.059     17.953
25                     Grand Total incl. IDC          2,968.23         63.90          40.08      1,861.50         4,829.73        103.98           229.79                                                                                                                                                                                                        Price Contingencies                1.737      13.266     15.003
                                                                                                                       0.00                                                                                                                                                                                                                                      IDC                                           17.304     17.304
                                                  Exchange rates (average in 2000)          Assumptions of Analysis                                                                                                                                                                                                                                              Total Project value               88.566     141.223    229.789
                                                  1 US$ = Rs.         46.45                 financial      imports          domestic        indirect cost                                                                                                                                                                                                        Finanzierung des
                                                  1 US$ = DM            2.21                  Phys. Cont.           10.0%         10.0% ocean freight                5%                                                                                                                                                                                          Projekts                     Devisen     IRp          Gesamt
                                                  1 DM = Rs.          21.02                   Price Cont.             2.0%        14.0%dom. transport                3%                                                                                                                                                                                          KfW-lokale Finanz.                88.566     161.434    250.000
                                                                                                           Excise tax                14%       insurance             1%                                                                                                                                                                                          GEF                                0.000       0.000      0.000
     Subcontracted Work                           Percentage of Total         Subc. Work       Central sales T. /SC.W.T.              4% port handling               2%                                                                                                                                                                                          Equity GoR                                    23.789     23.789
                                                       %           in Rs          in Rs                    Import duty               22%                                                                                                                                                                                                                         Grant GoI                                      0.000      0.000
     Powerblock                                           45%      1,119.91             500                                                                                                                                                                                                                                                                      lokal Loan                                   206.000    206.000
     Solar Field                                           0%           0.00              0                                                                                                                                                                                                                                                                                                        88.566     391.223    479.789
     Others                                                0%        340.00               0
                                                                                 Interest                                      Constr.                                   Modelling of IDC            KfW         Local
     Financing                                                      US$            Rate       Moratorium       Tenure       constr. Period IDC-Factor IDC in US$ period (3y)           disbursement IDC          IDC
                                       Equity              500        10.76                     years           years                                                            2.75        7.50%        2.23%        1.24%
                                   GOI-Grant                 0          0.00                                                                                                     2.25        7.50%        1.83%        1.01%
                     German Combined Loan               0.00%           0.00                                                                                                     1.75       30.00%        5.69%        3.15%
                       Loan portion for PEA              100%           0.00       13%             4               15                 2.5         15.17%           0.00          1.25       30.00%        4.06%        2.25%
                       Grant portion for PEA               0%           0.00                                                                                                     0.75       12.50%        1.02%        0.56%
                                  GEF Grant                             0.00                                                                                                     0.25       12.50%        0.34%        0.19%
                              Local Financing                         93.21        18%             0                7                   1          8.40%           7.83                        Total     15.17%        8.40%
     Grand Total Financing                                           103.98
     This project is over financed!!                    Error=       0.0000
     Project Cost & Financing based upon best estimate for Project appraisal                                             16-Sep-12            15:43                                                                                                      Anlage zzz                                                                                                                                                                                                                                                                                     IRp/US$=            46.45
     Zahlen für ISCC basieren auf Angaben von Fichtner vom Mai 2001 (21.5.2001)                                            2-Oct-01                                                                                                                      Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen US$)                                                                                                                                                     Fichtner daten vom Mai 2001 zu ISCC     Eingabe=            46.45
     Überarbeitet am 5.10.2001, no railway siding                        all cost in million units                                                                        m²            kWe-net         absolute
                               Cost component Local Cost Local Cost Forex Cost Forex Cost                 Total Cost    Total Cost     Total Cost                      219090           127700          Investment                                       Jahre           Ereignis      Lieferung                      Transport & Versicherung    Engineering             Consultant             RSPCL      Zölle/Steuern Gesamt-Kosten                                                                            Million US$                           million Irp
                                                  in Rs.       in US$        in US$        in Rs.            in Rs        in US$          in DM      forex %       US$/m²         US$/kWe               Million US$                                                                       Devisen        Lokal          Devisen         Lokal      Devisen      Lokal      Devisen     Lokal        Lokal       Lokal        Devisen             Lokal                    Kosten Powerblock ohne eng./erection/ lokal            import       Gesamt     lokal         import       Gesamt
1    Power Block                                  1,484.08         31.95         44.35     2,060.06          3,544.14         76.30          168.62         58%                                  597           76.300           12.5%                             0.00   Liefervertragsabschluß
                                                                                                                                                                                                                                                                                              8.024        6.626            0.674         0.571        1.250      0.861       0.188      0.109        0.775                       10.135           8.943                  commissioning                                                            0.000         0.000        0.000       0.000
2    Solar Field + solar Steam generation           978.24         21.06         19.84       921.57          1,899.81         40.90           90.39         49%               187                              40.900           12.5%                             0.25   Beginn Bauarbeiten 8.024          6.626                          1.232        1.250      0.861       0.188      0.109        2.271        1.722           9.461          12.822                  Civil and Structural                             6.300                   6.300       292.635        0.000     292.635
3    Ocean freight                                                  0.00          3.21       149.08            149.08           3.21            7.09       100%                                                                 15.0%                             0.75                        9.629
                                                                                                                                                                                                                                                                         Erste Lieferungen/Montage         7.952                          1.643        1.500      1.033       0.225      0.131        2.271        3.445          11.354          16.475                  Power Block + BoP (70% Import)                 18.600       43.400      62.000       863.970   2,015.930    2,879.900
4    Inland transport                               190.76          4.11          0.00          0.00           190.76           4.11            9.08         0%                                                                 15.0%                             1.25   Ende Bauarbeiten 9.629            7.952            3.210         1.232        1.500      1.033       0.225      0.131        0.251        3.445          14.563          14.044                  General Electrical (10% Import)                  4.770        0.530      5.300       221.567      24.619      246.185
5    Insurance                                        26.53         0.57          0.67        31.31              57.84          1.25            2.75        54%                                                                 30.0%                             1.75   Druckprüfung        19.257       15.903                                       3.000      2.067       0.450      0.262        0.251        3.445          22.707          21.928                  I&C and Communication (30% Import)               0.980        0.420      1.400        45.521      19.509       65.030
6                                           Total 2,679.61         57.69         68.07     3,162.01          5,841.62        125.76          277.93         54%                                                                  5.0%                             2.25   Inbetriebnahme       3.210        2.651                                       0.500      0.344       0.075      0.044        0.323        1.722           3.785           5.084                  Transformers                                     1.300                   1.300        60.385        0.000      60.385
7a   Eng./Proj. Mgm./Constr. S. Power Bl.           200.00          4.31          7.00       325.15            525.15         11.31           24.99 incl. Eng./...                               686          87.606             5.0%                             2.75   Optimierung          3.210        2.651                                       0.500      0.344       0.075      0.044        0.323        1.722           3.785           5.084                                        Total Powerblock         31.950       44.350      76.300    1,484.078    2,060.058    3,544.135
7b   Eng./Proj. Mgm./Constr. S. Solar Field         120.00          2.58          3.00       139.35            259.35           5.58          12.34 incl. Eng./...            212                             46.483             5.0%                             3.00   Übergabe             3.210        2.651                                       0.500      0.344       0.075      0.044        0.251        1.722           3.785           5.012                  Kosten Solar Field ohne eng./erection/
7    Land Development                                 36.00         0.78                        0.00             36.00          0.78            1.71 but without transport                                                       1.000                                                       64.190       53.010              3.883      4.678        10.000      6.889       1.500      0.875        6.717       17.224          79.573          89.393                  commissioning
8    Raw Water Intake/Pipeline                      131.00          2.82                        0.00           131.00           2.82            6.23                                                                                                                                                                                                                                                                        Gesamtwert                                    Civil & Structural                               2.400                   2.400       111.480        0.000     111.480
9    Railway Siding/ Unloading Gantry                  0.00         0.00                        0.00              0.00          0.00            0.00                                                                                                                                                                                                                                                                         168.966                                      100% Imported                                               19.200      19.200         0.000     891.840      891.840
10   Construction Site facilities                     10.00         0.22                        0.00             10.00          0.22            0.48                                                                                                     Anlage zzz                                                                                                                                                                                                       40% Imported                                     0.960        0.640      1.600        44.592      29.728       74.320
11   Township                                         70.00         1.51                        0.00             70.00          1.51            3.33                                                                                                     Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen DM)                                                                                                                100% lokal                                     17.700                   17.700       822.165        0.000     822.165
12                                     Sub-Total    567.00         12.21         10.00       464.50          1,031.50         22.21           49.08                                                                                                                                                                                                                                                                                                                                                                                                0.000         0.000        0.000       0.000
13   Owner's Expenses                                 35.00         0.75                        0.00             35.00          0.75            1.67                                                                                                     Jahre           Ereignis      Lieferung                      Transport & Versicherung    Engineering             Consultant             RSPCL          Zölle/Steuern Gesamt-Kosten                                                      Total Solar Field       21.060       19.840      40.900       978.237     921.568    1,899.805
14   Start-up/ Commissioning                          30.00         0.65                        0.00             30.00          0.65            1.43 Part which cannot financed                                                                                                           Devisen        Lokal          Devisen         Lokal      Devisen      Lokal      Devisen     Lokal         Lokal          Lokal         Devisen         Lokal
15   Owners/Lenders Consultant                        40.63         0.87          1.50        69.68            110.30           2.37            5.25 from foreign loans or grants                                                                                 0.00   Liefervertragsabschluß
                                                                                                                                                                                                                                                                                             17.732       14.644            1.490         1.262        2.763      1.903       0.414      0.242          1.713              0           22.399      19.764
16                  Total excl . Taxes / Duties   3,352.23         72.17         79.57     3,696.19          7,048.42        151.74          335.35                million DM                                                                                     0.25   Beginn Bauarbeiten17.732         14.644            0.000         2.723        2.763      1.903       0.414      0.242          5.019          3.807           20.909      28.338
17   Taxes                                          300.78          6.48          0.00          0.00           300.78           6.48          14.31 Taxes                  14.31                                                                                  0.75   Erste Lieferungen/Montage
                                                                                                                                                                                                                                                                                             21.279       17.573            0.000         3.630        3.315      2.284       0.497      0.290          5.019          7.613           25.091      36.410
18   Duties                                         499.29         10.75          0.00          0.00           499.29         10.75           23.76 Duties                 23.76                                                                                  1.25   Ende Bauarbeiten 21.279          17.573            7.093         2.723        3.315      2.284       0.497      0.290          0.555          7.613           32.184      31.038
19                     Total incl. Taxes / Duties 4,152.30         89.39         79.57     3,696.19          7,848.49        168.97          373.42 sub-total              38.07                                                                                  1.75   Druckprüfung        42.558       35.146            0.000         0.000        6.630      4.567       0.995      0.580          0.555          7.613           50.182      48.461
20   Physical Contingencies                         415.23          8.94          7.96       369.62            784.85         16.90           37.34 phys. Conting.           3.81                                                                                 2.25   Inbetriebnahme       7.093        5.858            0.000         0.000        1.105      0.761       0.166      0.097          0.714          3.807            8.364      11.236
21                                          Total 4,567.53         98.33         87.53     4,065.81          8,633.34        185.86          410.76 sub-total              41.87                                                                                  2.75   Optimierung          7.093        5.858            0.000         0.000        1.105      0.761       0.166      0.097          0.714          3.807            8.364      11.236
22   Price Contingencies                            573.55         12.35          1.75        81.32            654.86         14.10           31.16 price conting            3.18                                                                                 3.00   Übergabe             7.093        5.858            0.000         0.000        1.105      0.761       0.166      0.097          0.555          3.807            8.364      11.077   Gesamtwert
23                                  Grand Total   5,141.08        110.68         89.28     4,147.12          9,288.20        199.96          441.91 sub-total              45.05                                                                                                           141.860       117.152            8.583        10.338       22.100     15.225       3.315      1.933         14.844         38.066          175.857     197.558       373.416
24                                           IDC    449.93          9.69          0.00          0.00           449.93           9.69          21.41 IDC                    21.41                                                                                                                                                                                                                 Physical Contingencies                17.586      19.756        37.342
25                       Grand Total incl. IDC    5,591.01        120.37         89.28     4,147.12          9,738.13        209.65          463.32 100% local             66.46                                                                                                                                                                                                                 Price Contingencies                    3.869      27.288        31.157
                                                                                                                  0.00                                                                                                                                                                                                                                                                           IDC                                               21.407        21.407
                                                  Exchange rates (average in 2000):      Assumptions of Analysis                                                                                                                                                                                                                                                                                 Total Project value                  197.312     266.009       463.321
                                                  1 US$ = Rs.        46.45               financial      imports        domestic        indirect cost                                                                                                                                                                                                                                             Finanzierung des
                                                  1 US$ = DM           2.21                Phys. Cont.          10.0%        10.0% ocean freight             5%                                                                                                                                                                                                                                  Projekts                    Devisen          IRp            Gesamt
                                                  1 DM = Rs.         21.02                 Price Cont.           2.0%        14.0% dom. transport            3%                                                                                                                                                                                                                                  KfW-lokale Finanz.                   106.923     143.077      250.000
                                                                                                        Excise tax             14%        insurance          1%                                                                                                                                                                                                                                  GEF                                   90.389       9.061       99.450
     Subcontracted Work                           Percentage of Total       Subc. Work      Central sales T. /SC.W.T.            4% port handling            2%                                                                                                                                                                                                                                  Equity GoR                                        23.789       23.789
                                                       %          in Rs        in Rs                    Import duty            22%                                                                                                                                                                                                                                                               Grant GoI                                         23.789       23.789
     Powerblock                                           48%     1,484.08          711                 Import duty                                                                                                                                                                                                                                                                              lokal Loan                                        66.293       66.293
     Solar Field                                          37%       978.24          362                 solar equipm.            5%                                                                                                                                                                                                                                                                                                   197.312     266.009      463.321
     Others                                                0%       567.00             0                                                                                                                                                                                                         2
                                                                              Interest                                    Constr.                                  Modelling of IDC                     KfW             Local                            Modelling of IDC           KfW               Local
     Financing                                                     US$          Rate       Moratorium       Tenure     constr. PeriodIDC-Factor      IDC in US$ period (3y)       disbursement          IDC             IDC              US$             period 2 y    disbursement IDC               IDC             US$
                                         Equity            500       10.76                   years           years                                                           2.75            7.50%             2.23%            1.24%           15.724            1.83       7.50%          1.49%             0.83%          15.724
                                    GOI-Grant              500       10.76                                                                                                   2.25            7.50%             1.83%            1.01%           15.724            1.50       7.50%          1.22%             0.68%          15.724
                      German Combined Loan           100.00%        113.12                                                                                                   1.75           30.00%             5.69%            3.15%           62.894            1.17     30.00%           3.79%             2.10%          62.894
                         Loan portion for PEA             70%        79.19      13%             4              15                2.5        10.11%          8.01             1.25           30.00%             4.06%            2.25%           62.894            0.83     30.00%           2.71%             1.50%          62.894
                         Grant portion for PEA            30%        33.94                                                                                                   0.75           12.50%             1.02%            0.56%           26.206            0.50     12.50%           0.68%             0.38%          26.206
                                    GEF Grant                        45.00                                                                                                   0.25           12.50%             0.34%            0.19%           26.206            0.17     12.50%           0.23%             0.13%          26.206
                              Local Financing                        30.00      18%             0              7                   1         5.60%          1.68                                Total         15.17%            8.40%          209.648                                     10.11%             5.60%         209.648
     Grand Total Financing                                          209.65                                                           Drei Jahre Bauzeit!!
     Adjust local financing!                            Error=      0.0000                                                           Laufzeit der               3
                                                                                                                                     Bauzinsen

                                                                  IRp             DM
                                                  local financ.         1393.36         66.293
                                                                                                                                                                                                        Comparison of CEA/GoI Data and KfW-View of Project cost
                                                                          10.76         23.789
                                                                          10.76         23.789
                                                                         113.12        250.000                                                                                                          Exchange rates assumed                                                  1999
                                                                          79.19        175.000                                                                                                          1 US$ = Rs.       46.45                  46.45           46.45         42.00
                                                                          33.94         75.000                                                                                                          1 US$ = DM         2.21                   2.21            2.21          1.65
                                                                          45.00         99.450                                                                                                          1 DM = Rs.        21.02                  21.02           21.02         25.45
                                                                          30.00         66.293
                                                                                                                                                                                                        Exchange rate acc. to KfW-Revis.
                                                                        209.648        463.321                                                                                                          ISCC-B         EIL-DPR                     EIL-DPR        CEA-GOI
                                                                                                                                                                                                        3.10.2001      revised
                                                                                                                                                                                 Financing                Million DM     Million DM   Million DM      Million $     Million $          Million DM
                                                                                                                                                                                 total                         463.32         451.84       416.95         188.67       203.75
                                                                                                                                                                                 equity                         -23.79         -23.79       -23.79         -10.76       -11.90
                                                                                                                                                                                 GOI                            -23.79         -23.79       -23.79         -10.76       -11.90
                                                                                                                                                                                 GEF-Grant                      -99.45         -99.45       -99.45         -45.00       -45.00
                                                                                                                                                                                 min. local loan                -18.88         -31.41       -15.19          -6.87         -3.24
                                                                                                                                                                                 balance                       297.42         273.41       254.74         115.27       138.18              228.00
                                                                                                                                                                                 total local contr.              66.29          54.81        19.92           9.02          3.24
                                                                                                                                                                                 100% local                      66.46          78.98        62.76          28.40        27.05
                                                                                                                                                                                 local financing by
                                                                                                                                                                                 KfW needed?                  no
     Project Cost & Financing based upon best estimate for Project appraisal
     Zahlen basieren nun auf Angaben von Fichtner vom Mai 2001 (21.5.2001)
                                                  Project cost end of 2000       Disbursement
                                Cost component local cost         oreign cost            2003
                                                  million Irp     Million US$ million Irp     Million US$
1    Power Block                                        1,484.08           44.35      445.223        13.305
2    Solar Field + solar Steam generation                 978.24           19.84      293.471          7.936
3    Ocean freight                                           0.00           3.21        0.000          0.642
4    Inland transport                                     190.76            0.00       47.690          0.000
5    Insurance                                             26.53            0.67        0.000          0.000
6                                           Total       2,679.61           68.07      786.385        21.883
7a   Eng./Proj. Mgm./Constr. S. Power Bl.                 200.00            7.00      100.000          3.500
7b   Eng./Proj. Mgm./Constr. S. Solar Field               120.00            3.00       60.000          1.500
7    Land Development                                      36.00            0.00       36.000          0.000
8    Raw Water Intake/Pipeline                            131.00            0.00       65.500          0.000
9    Railway Siding/ Unloading Gantry                        0.00           0.00        0.000          0.000
10   Construction Site facilities                          10.00            0.00       10.000          0.000
11   Township                                              70.00            0.00        3.500          0.000
12                                     Sub-Total          567.00           10.00        0.000          0.000
13   Owner's Expenses                                      35.00            0.00       11.550          0.000
14   Start-up/ Commissioning                               30.00            0.00        0.000          0.000
15   Owners/Lenders Consultant                             40.63            1.50       16.250          0.600
16                  Total excl . Taxes / Duties         3,352.23           79.57      302.800          5.600
17   Taxes                                                300.78            0.00        0.000          0.000
18   Duties                                               499.29            0.00        0.000          0.000
19                     Total incl. Taxes / Duties       4,152.30           79.57
20   Physical Contingencies                               415.23            7.96        0.000          0.000
21                                          Total       4,567.53           87.53        0.000          0.000
22   Price Contingencies                                  573.55            1.75        0.000          0.000
23                                  Grand Total         5,141.08           89.28
24   Financing Charges
25   Interest during construction
26   Total Cost of Project /Disbursement in year

     US$ Escalation per year                         %/a                2.00%          1.020
     Irp Escalation per year                         %/a                5.90%          1.059
     Exchange rate escalation
     Financing (all cost in million units)           Upfront cha. Interest
     Equity                                                             16.00%
     Grant of GoI                                                        0.00%
     GEF Grant                                                           0.00%
     KfW Grant-Portion                                                   0.00%
     KfW Loan Portion Loan                                              13.00%
     Local Loan                                           1.125%        14.00%
                                             Total
     Paid out amounts / debt
     Equity
     Grant of GoI
     GEF Grant
     KfW FC-Portion
     KfW Market Loan
     Local Loan
                                     Total Debt

                                     1 DM= Rs.     25.46
     Disbursement schedule of project cost                           Escalation factors
                                            y. without esc.     0
                                                        2000                  2003
                             Cost component Local Cost Forex Cost    Local Cost Forex Cost
                                                in Rs.       in DM       %          %
1    Power Block                                                            30%        30%
2    Solar Field + solar Steam generation                                   30%        40%
3    Ocean freight                                                                     20%
4    Inland transport                                                       25%
5    Insurance
6                                          Total
7a   Eng./Proj. Mgm./Constr. S. Power Bl.                                    50%           50%
7b   Eng./Proj. Mgm./Constr. S. Solar Field                                  50%           50%
7    Land Development                                                       100%          100%
8    Raw Water Intake/Pipeline                                               50%           50%
9    Railway Siding/ Unloading Gantry                                         5%            5%
10   Construction Site facilities                                           100%          100%
11   Township                                                                 5%
12                                    Sub-Total
13   Owner's Expenses                                                         33%
14   Start-up/ Commissioning                                                   0%          0%
15   Owners/Lenders Consultant                                                40%         40%
16                 Total excl . Taxes / Duties
17   Taxes
18   Duties
19                    Total incl. Taxes / Duties
20   Physical Contingencies
21                                         Total
22   Price Contingencies
23                                 Grand Total
                                                        Aggregated Project Cost
Disbursement                 Disbursement
          2004                       2005
million Irp    Million US$ million Irp    Million US$ million Irp    Million US$   million Irp
      593.631         17.740      445.223        13.305
         2004                  2005
Local Cost Forex Cost Local Cost Forex Cost
    %          %          %          %
       40%        40%        30%        30%
       50%        40%        20%        20%
                  70%       100%        10%
       60%                   15%       100%
                            100%       100%

      35%        35%        15%        15%
      35%        35%        15%        15%
                             0%         0%
      50%        50%         0%         0%
      60%        60%        35%        35%
                             0%         0%
      40%                   55%       100%

      33%                   34%       100%
      10%        10%        90%        90%
      25%        25%        35%        35%
           1                     2                     3                     4
Operating year   2006 Operating year   2007 Operating year   2008 Operating year
                5                     6                     7
2009 Operating year   2010 Operating year   2011 Operating year   2012
           8                     9                    10                    11
Operating year   2013 Operating year   2014 Operating year   2015 Operating year
               12                    13                    14
2016 Operating year   2017 Operating year   2018 Operating year   2019
          15                    16                    17                    18
Operating year   2020 Operating year   2021 Operating year   2022 Operating year
               19                    20                    21
2023 Operating year   2024 Operating year   2025 Operating year   2026
          22                    23                    24                    25
Operating year   2027 Operating year   2028 Operating year   2029 Operating year
2030
     Project Cost & Financing based upon best estimate for Project appraisal                                          January 2002                                                                                                                Anlage zzz                                                                                                                                                                                                                                                                                                IRp/US$=             46.45
                                                                                                                                                                                                                                                  Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen US$)                                                                                                                                                                                                        Eingabe=             46.45
                                                                                  all cost in million units                                                              m²            kWe-net        absolute                                                                                                                                                                                                                                                                                                      Fichtner daten vom Mai 2001 zu ISCC-B (Table 7-2 und 7-3 in Concept-report)
                               Cost component Local Cost          Local Cost       Forex Cost Forex CostTotal Cost Total Cost Total Cost                               219090           118300        Investment                                  Jahre           Ereignis                    Lieferung                      Transport & Versicherung    Engineering             Consultant             RSPCL      Zölle/Steuern Gesamt-Kosten                                                                      Million US$                             million Irp
                                                  in Rs.            in US$            in US$        in Rs. in Rs        in US$          in DM       forex %          US$/m²        US$/kWe            Million US$                                                                                Devisen        Lokal          Devisen         Lokal      Devisen      Lokal      Devisen     Lokal        Lokal       Lokal       Devisen     Lokal                      Kosten Powerblock ohne eng./erection/ lokal             import       Gesamt       lokal         import       Gesamt
1    Power Block                                  1,413.01              30.42             40.78            3,307.24
                                                                                                    1,894.23                71.20         157.35             57%                                  602       71.200         12.5%                           0.00   Liefervertragsabschluß             7.578        6.435            0.637         0.554        1.250      0.861       0.188      0.109        0.775                     9.652     8.734                    commissioning                                                              0.000          0.000        0.000         0.000
2    Solar Field + solar Steam generation           978.24              21.06             19.84            1,899.81
                                                                                                      921.57                40.90           90.39            49%             187                            40.900         12.5%                           0.25   Beginn Bauarbeiten                 7.578        6.435                          1.165        1.250      0.861       0.188      0.109        2.271        1.615        9.015    12.457                    Civil and Structural                              6.300                    6.300        292.635        0.000      292.635
3    Ocean freight                                                       0.00              3.03       140.79 140.79          3.03            6.70           100%                                                           15.0%                           0.75   Erste Lieferungen/Montage          9.093        7.722                          1.553        1.500      1.033       0.225      0.131        2.271        3.231      10.818     15.942                    Power Block + BoP (70% Import)                  17.070       39.830       56.900        792.902   1,850.104     2,643.005
4    Inland transport                               180.34               3.88              0.00         0.00 180.34          3.88            8.58             0%                                                           15.0%                           1.25   Ende Bauarbeiten                   9.093        7.722            3.031         1.165        1.500      1.033       0.225      0.131        0.251        3.231      13.849     13.533                    General Electrical (10% Import)                   4.770        0.530       5.300        221.567       24.619      246.185
5    Insurance                                       25.72               0.55              0.64        29.57  55.28          1.19            2.63            53%                                                           30.0%                           1.75   Druckprüfung                      18.186       15.444                                       3.000      2.067       0.450      0.262        0.251        3.231      21.636     21.255                    I&C and Communication (30% Import)                0.980        0.420       1.400         45.521       19.509       65.030
6                                           Total 2,597.30              55.92             64.29            5,583.45
                                                                                                    2,986.15               120.20         265.65             53%                                                            5.0%                           2.25   Inbetriebnahme                     3.031        2.574                                       0.500      0.344       0.075      0.044        0.323        1.615        3.606     4.901                    Transformers                                      1.300                    1.300         60.385        0.000       60.385
7a   Eng./Proj. Mgm./Constr. S. Power Bl.           200.00               4.31              7.00       325.15 525.15         11.31           24.99   incl. Eng./...                                697        82.506         5.0%                           2.75   Optimierung                        3.031        2.574                                       0.500      0.344       0.075      0.044        0.323        1.615        3.606     4.901                                           Total Powerblock         30.420       40.780       71.200     1,413.009    1,894.231     3,307.240
7b   Eng./Proj. Mgm./Constr. S. Solar Field         120.00               2.58              3.00       139.35 259.35          5.58           12.34   incl. Eng./...           212                             46.483         5.0%                           3.00   Übergabe                           3.031        2.574                                       0.500      0.344       0.075      0.044        0.251        1.615        3.606     4.829                    Kosten Solar Field ohne eng./erection/
7    Land Development                                36.00               0.78                           0.00  36.00          0.78            1.71   but without transport                                                   1.000                                                                   60.620       51.480              3.668      4.436        10.000      6.889       1.500      0.875        6.717       16.155      75.788     86.552                    commissioning
8    Raw Water Intake/Pipeline                      131.00               2.82                           0.00 131.00          2.82            6.23                                                                                                                                                                                                                                                                                Gesamtwert                               Civil & Structural                                2.400                    2.400        111.480        0.000      111.480
9    Railway Siding/ Unloading Gantry                 0.00               0.00                           0.00    0.00         0.00            0.00                                                                                                                                                                                                                                                                                  162.339                                100% Imported                                                19.200       19.200          0.000     891.840       891.840
10   Construction Site facilities                    10.00               0.22                           0.00  10.00          0.22            0.48                                                                                                 Anlage zzz                                                                                                                                                                                                              40% Imported                                      0.960        0.640       1.600         44.592       29.728       74.320
11   Township                                        70.00               1.51                           0.00  70.00          1.51            3.33                                                                                                 Kostenzeitplan für Investition ohne Studien und Unvorhergesehenes und Bauzinsen (in Millionen DM)                                                                                                                       100% lokal                                      17.700                    17.700        822.165        0.000      822.165
12                                     Sub-Total    567.00              12.21             10.00       464.50
                                                                                                           1,031.50         22.21           49.08                                                                                                                                                                                                                                                                                                                                                                                                    0.000          0.000        0.000         0.000
13   Owner's Expenses                                35.00               0.75                           0.00  35.00          0.75            1.67                                                                                                 Jahre           Ereignis                    Lieferung                      Transport & Versicherung    Engineering             Consultant             RSPCL                      Gesamt-Kosten
                                                                                                                                                                                                                                                                                                                                                                                                                       Zölle/Steuern                                                              Total Solar Field       21.060       19.840       40.900        978.237     921.568     1,899.805
14   Start-up/ Commissioning                         30.00               0.65                           0.00  30.00          0.65            1.43   Part which cannot financed                                                                                                                   Devisen        Lokal          Devisen         Lokal      Devisen      Lokal      Devisen     Lokal         Lokal          Lokal       Devisen       Lokal
15   Owners/Lenders Consultant                       40.63               0.87              1.50        69.68 110.30          2.37            5.25   from foreign loans or grants                                                                           0.00   Liefervertragsabschluß            16.746       14.221            1.407         1.224        2.763      1.903       0.414      0.242          1.713              0       21.330      19.302
16                  Total excl . Taxes / Duties   3,269.92              70.40             75.79     3,520.33
                                                                                                           6,790.25        146.18         323.07                  million DM                                                                               0.25   Beginn Bauarbeiten                16.746       14.221            0.000         2.574        2.763      1.903       0.414      0.242          5.019          3.570       19.923      27.530
17   Taxes                                          287.59               6.19              0.00         0.00 287.59          6.19           13.68   Taxes                 13.68                                                                            0.75   Erste Lieferungen/Montage         20.096       17.066            0.000         3.432        3.315      2.284       0.497      0.290          5.019          7.140       23.908      35.231
18   Duties                                         462.81               9.96              0.00         0.00 462.81          9.96           22.02   Duties                22.02                                                                            1.25   Ende Bauarbeiten                  20.096       17.066            6.699         2.574        3.315      2.284       0.497      0.290          0.555          7.140       30.606      29.909
19                     Total incl. Taxes / Duties 4,020.32              86.55             75.79     3,520.33
                                                                                                           7,540.65        162.34         358.77    sub-total             35.70                                                                            1.75   Druckprüfung                      40.191       34.131            0.000         0.000        6.630      4.567       0.995      0.580          0.555          7.140       47.816      46.974
20   Physical Contingencies                         402.03               8.66              7.58       352.03 754.06         16.23           35.88   phys. Conting.         3.57                                                                            2.25   Inbetriebnahme                     6.699        5.689            0.000         0.000        1.105      0.761       0.166      0.097          0.714          3.570        7.969      10.830
21                                          Total 4,422.35              95.21             83.37     3,872.36
                                                                                                           8,294.71        178.57         394.65    sub-total             39.27                                                                            2.75   Optimierung                        6.699        5.689            0.000         0.000        1.105      0.761       0.166      0.097          0.714          3.570        7.969      10.830
22   Price Contingencies                            558.04              12.01              1.67        77.45 635.49         13.68           30.24   price conting          3.01                                                                            3.00   Übergabe                           6.699        5.689            0.000         0.000        1.105      0.761       0.166      0.097          0.555          3.570        7.969      10.672 Gesamtwert
23                                  Grand Total   4,980.39             107.22             85.03     3,949.81
                                                                                                           8,930.20        192.25         424.88    sub-total             42.28                                                                                                                   133.970       113.771            8.105         9.804       22.100     15.225       3.315      1.933         14.844         35.702     167.490      191.279    358.769
24                                           IDC    428.69               9.23              0.00         0.00 428.69          9.23           20.40   IDC                   20.40                                                                                                                                                                                                                         Physical Contingencies            16.749      19.128     35.877
25                       Grand Total incl. IDC    5,409.08             116.45             85.03            9,358.89
                                                                                                    3,949.81               201.48         445.28    100% local            62.68                                                                                                                                                                                                                         Price Contingencies                3.685      26.550     30.235
                                                                                                                0.00                                                                                                                                                                                                                                                                                    IDC                                           20.396     20.396
                                                  Exchange rates (average in 2000):      Assumptions of Analysis                                                                                                                                                                                                                                                                                        Total Project value             187.924      257.354    445.278
                                                  1 US$ = Rs.        46.45               financial     imports       domestic       indirect cost                                                                                                                                                                                                                                                       Finanzierung des
                                                  1 US$ = DM           2.21                Phys. Cont.       10.0%         10.0% ocean freight                 5%                                                                                                                                                                                                                                       Projekts                     Devisen     IRp          Gesamt
                                                  1 DM = Rs.         21.02                 Price Cont.         2.0%        14.0%dom. transport                 3%                                                                                                                                                                                                                                       KfW-lokale Finanz.                97.535     152.465    250.000
                                                                                                       Excise tax            14%       insurance               1%                                                                                                                                                                                                                                       GEF                               90.389       9.061     99.450
     Subcontracted Work                           Percentage of Total       Subc. Work Central sales T. /SC.W.T.              4% port handling                 2%                                                                                                                                                                                                                                       Equity GoR                                    23.789     23.789
                                                       %          in Rs         in Rs                  Import duty           22%                                                                                                                                                                                                                                                                        Grant GoI                                     23.789     23.789
     Powerblock                                          50%     1,413.01            711               Import duty                                                                                                                                                                                                                                                                                      lokal Loan                                    48.250     48.250
     Solar Field                                         37%        978.24           362               solar                  5%                                                                                                                                                                                                                                                                                                        187.924      257.354    445.278
     Others                                               0%        567.00             0                                                                                                                                                                                                                 2
                                                                              Interest                                  Constr.                                    Modelling of IDC               KfW        Local                   Modelling of IDC                                         KfW            Local
     Financing                                                     US$          Rate       Moratorium     Tenure     constr. PeriodIDC-Factor       IDC in US$     period (3y) disbursement       IDC        IDC         US$         period 2 y    disbursement                               IDC            IDC             US$
                                         Equity           500        10.76                   years         years                                                           2.75          7.50%         2.23%       1.24%      15.111         1.83                                     7.50%          1.49%           0.83%          15.111
                                    GOI-Grant             500        10.76                                                                                                 2.25          7.50%         1.83%       1.01%      15.111         1.50                                     7.50%          1.22%           0.68%          15.111
                      German Combined Loan           100.00%        113.12                                                                                                 1.75         30.00%         5.69%       3.15%      60.445         1.17                                    30.00%          3.79%           2.10%          60.445
                         Loan portion for PEA            70%         79.19      13%             4            15               2.5        10.11%               8.01         1.25         30.00%         4.06%       2.25%      60.445         0.83                                    30.00%          2.71%           1.50%          60.445
                         Grant portion for PEA           30%         33.94                                                                                                 0.75         12.50%         1.02%       0.56%      25.185         0.50                                    12.50%          0.68%           0.38%          25.185
                                    GEF Grant                        45.00                                                                                                 0.25         12.50%         0.34%       0.19%      25.185         0.17                                    12.50%          0.23%           0.13%          25.185
                              Local Financing                        21.83      18%             0            7                   1         5.60%              1.22                          Total     15.17%       8.40%     201.483                                                                10.11%           5.60%         201.483
     Grand Total Financing                                          201.48
     Adjust local financing!                           Error=       0.0000

                                                                                                                                     Drei Jahre Bauzeit!!
                                                                  IRp             DM                                                 Laufzeit der                3
                                                  local financ.         1014.12         48.250                                       Bauzinsen
                                                                                                                                                                                                        Comparison of CEA/GoI Data and KfW-View of Project cost
                                                                          10.76         23.789
                                                                          10.76         23.789
                                                                         113.12        250.000                                                                                                          Exchange rates assumed                                                         1999
                                                                          79.19        175.000                                                                                                          1 US$ = Rs.       46.45           46.45           46.45                       42.00
                                                                          33.94         75.000                                                                                                          1 US$ = DM         2.21            2.21            2.21                        1.65
                                                                          45.00         99.450                                                                                                          1 DM = Rs.        21.02           21.02           21.02                       25.45
                                                                          21.83         48.250
                                                                                                                                                                                                        Exchange rate acc. to KfW-Revis.
                                                                        201.483        445.278                                                                                                          ISCC-B         EIL-DPR                     EIL-DPR       CEA-GOI
                                                                                                                                                                                                        3.10.2001      revised
                                                                                                                                                                                   Financing              Million DM     Million DM   Million DM     Million $           Million $             Million DM
                                                                                                                                                                                   total                       445.28         451.84       416.95       188.67                       203.75
                                                                                                                                                                                   equity                       -23.79         -23.79       -23.79       -10.76                      -11.90
                                                                                                                                                                                   GOI                          -23.79         -23.79       -23.79       -10.76                      -11.90
                                                                                                                                                                                   GEF-Grant                    -99.45         -99.45       -99.45       -45.00                      -45.00
                                                                                                                                                                                   min. local loan              -15.10         -31.41       -15.19         -6.87                      -3.24
                                                                                                                                                                                   balance                     283.15         273.41       254.74       115.27                       138.18         228.00
                                                                                                                                                                                   total local contr.            48.25          54.81        19.92          9.02                       3.24
                                                                                                                                                                                   100% local                    62.68          78.98        62.76        28.40                       27.05
                                                                                                                                                                                   local financing by
                                                                                                                                                                                   KfW needed?               no
     Project Cost & Financing based upon best estimate for Project appraisal                      16-Sep-12
     Economic Analysis
                                                                   all cost in million units
                       Cost component Local Cost Local Cost Forex Cost Forex Cost Total Cost
                                             in Rs.     in US$         in US$        in Rs.         in Rs
1    Power Block                              2,282.00      53.08           37.00    1,590.63       3,872.63
2    Solar Field                              1,123.00      26.12           20.50      881.30       2,004.30
3    Ocean freight                                            0.00           2.88      123.60         123.60
4    Inland transport                           193.56        4.50           0.00         0.00        193.56
5    Insurance                                   34.05        0.79           0.58        24.72          58.77
6                                   Total     3,632.61      84.50           60.95    2,620.24       6,252.85
7    Land Development                            36.00        0.84                        0.00          36.00
8    Raw Water Intake/Pipeline                  131.00        3.05                        0.00        131.00
9    Railway Siding/ Unloading Gantry           100.00        2.33                        0.00        100.00
10   Construction Site facilities                10.00        0.23                        0.00          10.00
11   Township                                    70.00        1.63                        0.00          70.00
12                              Sub-Total       347.00        8.07           0.00         0.00        347.00
13   Owner's Expenses                            35.00        0.81                        0.00          35.00
14   Start-up/ Commissioning                     30.00        0.70                        0.00          30.00
15   Implementation Consultant                   40.63        0.94           1.50        64.49        105.11
16          Total excl . Taxes / Duties       4,085.23      95.03           62.45    2,684.73       6,769.96
17   Taxes                                        0.00        0.00           0.00         0.00           0.00
18   Duties                                       0.00        0.00           0.00         0.00           0.00
19             Total incl. Taxes / Duties     4,085.23      95.03           62.45    2,684.73       6,769.96
20   Physical Contingencies                     408.52        9.50           6.25      268.47         677.00
21                                  Total     4,493.75     104.53           68.70    2,953.20       7,446.95
22   Price Contingencies                         89.88        2.09           1.37        59.06        148.94
23                          Grand Total       4,583.63     106.62           70.07    3,012.26       7,595.89
24                                   IDC        476.88      11.09            7.29      313.39         790.27
25               Grand Total incl. IDC        5,060.51     117.71           77.36    3,325.66       8,386.17
                                                                                                         0.00
                                          Exchange rates:                         Assumptions of Analysis
                                          1 US$ = Rs.       42.99                 economical Imports
                                          1 US$ = DM          1.84                Phys. Cont.          10.0%
                                          1 DM = Rs.        23.43                 Price Cont.           2.0%
                                                                                               Excise tax
     Subcontracted Work                   Percentage of Total       Subc. Work            Central sales Tax
                                                %        in Rs          in Rs                  Import duty
     Powerblock                                   31%    2,282.00             711
     Solar Field                                  32%    1,123.00             362
     Others                                        0%      347.00               0
                                                                       Interest
     Financing (not applicable)                           US$            Rate     Moratorium       Tenure
                                   Equity          500      11.63                     years         years
                               GOI-Grant           500      11.63
               German Combined Loan            73.91%      100.69
                  Loan portion for PEA           100%      100.69        8%             0             15
                  Grant portion for PEA            0%         0.00
                               GEF Grant                    45.00
                         Local Financing                    26.12        8%             0             7
     Grand Total Financing                                 195.07
     This project is over financed!!            Error=     0.0001
                        15:43

                                                         m²     kWe
                   Total Cost    Total Cost            219090  137000
                    in US$         in DM      forex % US$/m² US$/kWe
                         90.08         165.31      41%             658
                         46.62          85.56      44%     213
                          2.88           5.28     100%
                          4.50           8.26       0%
                          1.37           2.51      42%
                       145.45          266.91      42%
                          0.84           1.54
                          3.05           5.59
                          2.33           4.27
                          0.23           0.43
                          1.63           2.99
                          8.07          14.81
                          0.81           1.49
                          0.70           1.28
                          2.44           4.49
                       157.48          288.99
                          0.00           0.00
                          0.00           0.00
                       157.48          288.99
                         15.75          28.90
                       173.23          317.89
                          3.46           6.36
                       176.69          324.24
                         18.38          33.73
                       195.07          357.98

umptions of Analysis
                   Domestic   Indirect Cost
                       10.0% ocean freight       5%
                        2.0% dom. transport      3%
                          0%     insurance       1%
                          0% port handling       2%
                          0%



                     Constr.
                     Period      IDC-Factor   IDC
                      years          %        US$


                      2.5         10.40%      10.48


                       1           4.00%      1.04
                                                                                                                      9/16/2012 11:13
Estimate of Investment cost of Combined Cycle Plants and of ISCC-Powerblocks
Powerblock includes additional Steamturbine Capapcity of 40 MW
Data source GTW-Gas Turbine Handbook, Average Prices FOB of factory in 1998 US$

Method of estimate: (i) Gasturbine alone, (ii) CC-plant with same gas turbine; (iii) Estimate of Steam Cycle plant from (i) & (ii);
extrapolation of steam cycle to 40 MW higher power output with assumption: WHRB remains unchanged, only 50% of cost are
extrapolated. Result: minimum ISCC-cost without add. cost for liquid fuel.
Colors indicate: blue==Input from GTW-Handbook; red==calculated from Input; green==extrapolated

Formula for extrapolation of increased steam cycle plant:               C4= C2 * 0,5 * ( ( (A2+A4)/A2)^0,75 - 1)

Plants in GTW-Hand book Configuration                    MW $/kW      US$
                                                          A    B       C               Formulas:
V64.3                       GT                       1     63  255  16,065,000         C1=A1*B1*1000
Cobra 1.64.3                Steam cycle              2     32 1448  46,350,000         C2=C3-C1; B2=C2/A2/1000
Cobra 1.64.3                CC-Plant                 3     95  657  62,415,000         A3=A1+A2; C3=A3*B3*1000
                            delta Steam Cycle        4     40  485  19,400,194         C4 see above; B4=C4/A4/1000
                            ISCC                     5    135  606  81,815,194         A5=A3+A4; C5=C3+C4; B5=C5/A5/1000
                                                          A    B       C
V64.3A                      GT                       1     70  280  19,600,000         C1=A1*B1*1000
GUD 1S.64.3A                Steam cycle              2     31 1714  53,120,000         C2=C3-C1; B2=C2/A2/1000
GUD 1S.64.3A                CC-Plant                 3    101  720  72,720,000         A3=A1+A2; C3=A3*B3*1000
                            delta Steam Cycle        4     40  572  22,888,209         C4 see above; B4=C4/A4/1000
                            ISCC                     5    141  678  95,608,209         A5=A3+A4; C5=C3+C4; B5=C5/A5/1000
                                                          A    B       C
LM 6000PD                   2 x GT                   1   86.2  306  26,377,200         C1=A1*B1*1000
CC2-6000                    Steam cycle              2     22 2077  45,684,000         C2=C3-C1; B2=C2/A2/1000
CC2-6000                    CC-Plant                 3    108  666  72,061,200         A3=A1+A2; C3=A3*B3*1000
                            delta Steam Cycle        4     40  671  26,841,351         C4 see above; B4=C4/A4/1000
                            ISCC                     5    148  667  98,902,551         A5=A3+A4; C5=C3+C4; B5=C5/A5/1000
                                                          A    B       C
PG 6101FA                   GT                       1   70.2  269  18,870,350         C1=A1*B1*1000
S-106FA                     Steam cycle              2     40 1538  61,539,150         C2=C3-C1; B2=C2/A2/1000
S-106FA                     CC-Plant                 3    110  730  80,409,500         A3=A1+A2; C3=A3*B3*1000
                            delta Steam Cycle        4     40  524  20,978,476         C4 see above; B4=C4/A4/1000
                            ISCC                     5    150  675 101,387,976         A5=A3+A4; C5=C3+C4; B5=C5/A5/1000

Average                     Combined Cycle           5   414      694 287,605,700
Average                     ISCC                     5   574      658 377,713,929

Result: For ISO-Conditions and for the ISCC-output range from 135 to 150 MW an average of 658 US$/kW is derived.
This value has to be adjusted for site conditions: Output +5%, liquid fuel storage and handling: US$ +3.000.000;
Recommended Values for 137 MW ISCC (Gas): 5 128                  691     88,179,285 gas fuel
                                                                           3,000,000 liquid fuel
Best Investment Estimate:                                128     714     91,179,285 best estimate for site

Revised KfW-Appraisal:                                   128      686     87,605,705 still below best estimate for site

CEA/EIL recommendation in DPR:                           146      481     70,213,229 specific 26% lower than revised KfW-Appraisal

Fichtner/EIL-Report of Jan. 1996:                        139      890 123,889,941 specific 29% higher than revised KfW-Appraisal




Mymensing                   Abhitzekessel +DT               60   1500     90,000,000

                                                                  600

								
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