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*****************
***CASE REPORT***
*****************
Simulation Metadata
----------------------
GEOPHIRES Version: 3.20.0
Simulation Date: 2026-10-17
Simulation Time: 11:09
Calculation Time: 1.848 sec
***SUMMARY OF RESULTS***
End-Use Option: Electricity
Average Net Electricity Production: 523.70 MW
Electricity breakeven price: 10.92 cents/kWh
Total CAPEX: 3712.73 MUSD
Total CAPEX ($/kW): 7059 USD/kW
Number of production wells: 50
Number of injection wells: 34
Flowrate per production well: 107.0 kg/sec
Well depth: 3.1 kilometer
Segment 1 Geothermal gradient: 74 degC/km
Segment 1 Thickness: 2.5 kilometer
Segment 2 Geothermal gradient: 41 degC/km
Segment 2 Thickness: 0.5 kilometer
Segment 3 Geothermal gradient: 39.1 degC/km
***ECONOMIC PARAMETERS***
Economic Model = SAM Single Owner PPA
Real Discount Rate: 12.00 %
Nominal Discount Rate: 15.36 %
WACC: 9.17 %
Investment Tax Credit: 1113.82 MUSD
Project lifetime: 30 yr
Capacity factor: 91.3 %
Project NPV: 278.69 MUSD
After-tax IRR: 21.49 %
Project VIR=PI=PIR: 1.26
Project MOIC: 4.22
Project Payback Period: 5.36 yr
Estimated Jobs Created: 1347
***ENGINEERING PARAMETERS***
Number of Production Wells: 50
Number of Injection Wells: 34
Well depth: 3.1 kilometer
Water loss rate: 1.0 %
Pump efficiency: 80.0 %
Injection temperature: 56.6 degC
Production Wellbore heat transmission calculated with Ramey's model
Average production well temperature drop: 1.0 degC
Flowrate per production well: 107.0 kg/sec
Injection well casing ID: 7.825 in
Production well casing ID: 7.825 in
Number of times redrilling: 2
Power plant type: Supercritical ORC
***RESOURCE CHARACTERISTICS***
Maximum reservoir temperature: 500.0 degC
Number of segments: 3
Segment 1 Geothermal gradient: 74 degC/km
Segment 1 Thickness: 2.5 kilometer
Segment 2 Geothermal gradient: 41 degC/km
Segment 2 Thickness: 0.5 kilometer
Segment 3 Geothermal gradient: 39.1 degC/km
Project location: 38.506196, -112.918155
***RESERVOIR PARAMETERS***
Reservoir Model = Multiple Parallel Fractures Model (Gringarten)
Bottom-hole temperature: 220.85 degC
Fracture model = Rectangular
Well separation: fracture height: 100.00 meter
Fracture width: 305.00 meter
Fracture area: 30500.00 m**2
Reservoir volume calculated with fracture separation and number of fractures as input
Number of fractures: 18900
Fracture separation: 9.83 meter
Reservoir volume: 5663609797 m**3
Reservoir hydrostatic pressure: 28782.99 kPa
Plant outlet pressure: 13789.51 kPa
Production wellhead pressure: 2702.05 kPa
Productivity Index: 0.98 kg/sec/bar
Injectivity Index: 1.20 kg/sec/bar
Reservoir density: 2800.00 kg/m**3
Reservoir thermal conductivity: 3.05 W/m/K
Reservoir heat capacity: 790.00 J/kg/K
***RESERVOIR SIMULATION RESULTS***
Maximum Production Temperature: 218.4 degC
Average Production Temperature: 218.1 degC
Minimum Production Temperature: 216.2 degC
Initial Production Temperature: 216.7 degC
Average Reservoir Heat Extraction: 3616.52 MW
Production Wellbore Heat Transmission Model = Ramey Model
Average Production Well Temperature Drop: 1.0 degC
Average Injection Well Pump Pressure Drop: 1729.9 kPa
Average Production Well Pump Pressure Drop: 12497.4 kPa
***CAPITAL COSTS (M$)***
Exploration costs: 56.00 MUSD
Drilling and completion costs: 712.00 MUSD
Drilling and completion costs per vertical production well: 4.40 MUSD
Drilling and completion costs per vertical injection well: 4.40 MUSD
Drilling and completion costs per non-vertical section: 4.08 MUSD
Stimulation costs: 609.09 MUSD
Stimulation costs per well: 7.25 MUSD
Surface power plant costs: 1552.99 MUSD
Field gathering system costs: 50.20 MUSD
Total surface equipment costs: 1603.20 MUSD
One-time Flat License Fees Etc: 250.00 MUSD
Overnight Capital Cost: 3230.28 MUSD
Inflation costs during construction: 318.13 MUSD
Interest during construction: 164.32 MUSD
Total CAPEX: 3712.73 MUSD
***OPERATING AND MAINTENANCE COSTS (M$/yr)***
Wellfield maintenance costs: 8.58 MUSD/yr
Power plant maintenance costs: 26.18 MUSD/yr
Water costs: 2.85 MUSD/yr
Redrilling costs: 76.90 MUSD/yr
Annual License Fees Etc: 27.00 MUSD
Average Annual Royalty Cost: 16.66 MUSD/yr
Total operating and maintenance costs: 158.17 MUSD/yr
***SURFACE EQUIPMENT SIMULATION RESULTS***
Initial geofluid availability: 0.22 MW/(kg/s)
Maximum Total Electricity Generation: 634.60 MW
Average Total Electricity Generation: 632.38 MW
Minimum Total Electricity Generation: 620.27 MW
Initial Total Electricity Generation: 623.07 MW
Maximum Net Electricity Generation: 525.99 MW
Average Net Electricity Generation: 523.70 MW
Minimum Net Electricity Generation: 511.28 MW
Initial Net Electricity Generation: 514.30 MW
Average Annual Total Electricity Generation: 5057.80 GWh
Average Annual Net Electricity Generation: 4188.58 GWh
Initial pumping power/net installed power: 21.15 %
Average Pumping Power: 108.68 MW
Heat to Power Conversion Efficiency: 14.48 %
************************************************************
* HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE *
************************************************************
YEAR THERMAL GEOFLUID PUMP NET FIRST LAW
DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY
(degC) (MW) (MW) (%)
1 1.0000 216.67 108.7641 514.3027 14.3459
2 1.0053 217.82 108.7294 521.9599 14.4555
3 1.0063 218.04 108.7229 523.3973 14.4759
4 1.0068 218.15 108.7195 524.1468 14.4865
5 1.0072 218.23 108.7172 524.6432 14.4935
6 1.0074 218.28 108.7156 525.0097 14.4987
7 1.0076 218.33 108.7142 525.2982 14.5028
8 1.0078 218.36 108.7132 525.5329 14.5061
9 1.0079 218.39 108.7122 525.7370 14.5090
10 1.0080 218.41 108.7121 525.8697 14.5109
11 1.0080 218.40 108.7152 525.8133 14.5100
12 1.0071 218.22 108.7398 524.5645 14.4921
13 1.0030 217.31 108.8522 518.4502 14.4040
14 1.0038 217.50 108.7064 519.8278 14.4255
15 1.0058 217.94 108.7013 522.7334 14.4668
16 1.0066 218.09 108.6923 523.7836 14.4817
17 1.0070 218.19 108.6791 524.4140 14.4908
18 1.0073 218.25 108.6627 524.8616 14.4973
19 1.0075 218.30 108.6457 525.2068 14.5024
20 1.0077 218.34 108.6303 525.4849 14.5066
21 1.0079 218.37 108.6181 525.7161 14.5100
22 1.0080 218.40 108.6097 525.9077 14.5128
23 1.0080 218.41 108.6060 525.9938 14.5141
24 1.0078 218.37 108.6116 525.6787 14.5095
25 1.0060 217.98 108.6608 523.0589 14.4719
26 0.9991 216.47 108.8487 512.8622 14.3240
27 1.0050 217.76 108.5996 521.6761 14.4532
28 1.0062 218.01 108.5996 523.3522 14.4769
29 1.0068 218.14 108.5996 524.1651 14.4884
30 1.0071 218.22 108.5997 524.6893 14.4958
*******************************************************************
* ANNUAL HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE *
*******************************************************************
YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF
PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED
(GWh/year) (GWh/year) (10^15 J) (%)
1 4154.4 28810.9 1953.94 5.04
2 4181.1 28900.9 1849.90 10.10
3 4189.3 28928.4 1745.75 15.16
4 4194.2 28944.8 1641.55 20.22
5 4197.6 28956.2 1537.31 25.29
6 4200.2 28965.0 1433.04 30.36
7 4202.2 28972.0 1328.74 35.42
8 4204.0 28977.8 1224.42 40.49
9 4205.4 28982.5 1120.08 45.57
10 4205.9 28984.2 1015.74 50.64
11 4202.0 28971.3 911.44 55.70
12 4176.2 28885.8 807.45 60.76
13 4125.5 28715.3 704.08 65.78
14 4171.9 28869.3 600.15 70.83
15 4185.4 28914.6 496.05 75.89
16 4191.8 28936.1 391.88 80.95
17 4196.1 28950.0 287.66 86.02
18 4199.2 28960.1 183.41 91.09
19 4201.7 28968.0 79.12 96.15
20 4203.7 28974.5 -25.19 101.22
21 4205.4 28980.0 -129.51 106.29
22 4206.6 28983.8 -233.86 111.37
23 4206.2 28982.3 -338.19 116.44
24 4196.6 28950.6 -442.41 121.50
25 4150.3 28797.0 -546.08 126.54
26 4143.0 28769.6 -649.65 131.57
27 4180.1 28893.9 -753.67 136.63
28 4189.2 28924.9 -857.80 141.69
29 4194.4 28942.5 -961.99 146.75
30 4197.9 28954.1 -1066.23 151.82
***************************
* SAM CASH FLOW PROFILE *
***************************
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Year -3 Year -2 Year -1 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30
CONSTRUCTION
Capital expenditure schedule [construction] (%) 4.10 13.90 43.10 38.90
Overnight capital expenditure [construction] ($) -132,441,575 -449,009,240 -1,392,251,673 -1,256,579,817
plus:
Inflation cost [construction] ($) -3,973,247 -27,344,663 -129,099,321 -157,711,837
plus:
Royalty supplemental payments [construction] ($) 0 0 0 0
equals:
Nominal capital expenditure [construction] ($) -136,414,822 -476,353,903 -1,521,350,994 -1,414,291,654
Issuance of equity [construction] ($) 136,414,822 181,014,483 578,113,378 537,430,829
Issuance of debt [construction] ($) 0 295,339,420 943,237,617 876,860,826
Debt balance [construction] ($) 0 295,339,420 1,269,587,676 2,279,755,207
Debt interest payment [construction] ($) 0 0 31,010,639 133,306,706
Installed cost [construction] ($) -136,414,822 -476,353,903 -1,552,361,633 -1,547,598,360
After-tax net cash flow [construction] ($) -136,414,822 -181,014,483 -578,113,378 -537,430,829
ENERGY
Electricity to grid (kWh) 0.0 4,154,494,569 4,181,212,950 4,189,406,019 4,194,260,188 4,197,662,540 4,200,258,425 4,202,338,883 4,204,085,390 4,205,483,759 4,205,957,420 4,202,077,639 4,176,289,208 4,125,595,949 4,172,045,018 4,185,497,243 4,191,945,128 4,196,175,382 4,199,312,558 4,201,791,085 4,203,809,718 4,205,525,496 4,206,682,370 4,206,256,569 4,196,703,431 4,150,395,274 4,143,145,859 4,180,156,805 4,189,338,914 4,194,530,322 4,197,975,491
Electricity from grid (kWh) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Electricity to grid net (kWh) 0.0 4,154,494,569 4,181,212,950 4,189,406,019 4,194,260,188 4,197,662,540 4,200,258,425 4,202,338,883 4,204,085,390 4,205,483,759 4,205,957,420 4,202,077,639 4,176,289,208 4,125,595,949 4,172,045,018 4,185,497,243 4,191,945,128 4,196,175,382 4,199,312,558 4,201,791,085 4,203,809,718 4,205,525,496 4,206,682,370 4,206,256,569 4,196,703,431 4,150,395,274 4,143,145,859 4,180,156,805 4,189,338,914 4,194,530,322 4,197,975,491
REVENUE
PPA price (cents/kWh) 0.0 11.50 11.68 11.87 12.05 12.23 12.42 12.60 12.78 12.96 13.15 13.33 13.51 13.70 13.88 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06 14.06
PPA revenue ($) 0 477,766,875 488,491,109 497,114,918 505,366,410 513,458,082 521,462,083 529,410,652 537,324,154 545,198,915 552,957,222 560,136,949 564,341,961 565,041,621 579,038,128 588,480,912 589,387,485 589,982,259 590,423,346 590,771,827 591,055,646 591,296,885 591,459,541 591,399,674 590,056,502 583,545,575 582,526,308 587,730,047 589,021,051 589,750,963 590,235,354
Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 371,272,872
Total revenue ($) 0 477,766,875 488,491,109 497,114,918 505,366,410 513,458,082 521,462,083 529,410,652 537,324,154 545,198,915 552,957,222 560,136,949 564,341,961 565,041,621 579,038,128 588,480,912 589,387,485 589,982,259 590,423,346 590,771,827 591,055,646 591,296,885 591,459,541 591,399,674 590,056,502 583,545,575 582,526,308 587,730,047 589,021,051 589,750,963 961,508,226
Property tax net assessed value ($) 0 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718 3,712,728,718
OPERATING EXPENSES
O&M fixed expense ($) 0 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349 141,509,349
Royalty rate (%) 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 1.75 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50 3.50
O&M production-based expense ($) 0 8,360,920 8,548,594 8,699,511 8,843,912 8,985,516 9,125,586 9,264,686 9,403,173 9,540,981 9,676,751 19,604,793 19,751,969 19,776,457 20,266,334 20,596,832 20,628,562 20,649,379 20,664,817 20,677,014 20,686,948 20,695,391 20,701,084 20,698,989 20,651,978 20,424,095 20,388,421 20,570,552 20,615,737 20,641,284 20,658,237
O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Property tax expense ($) 0 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003 8,168,003
Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total operating expenses ($) 0 158,038,272 158,225,946 158,376,863 158,521,264 158,662,868 158,802,938 158,942,038 159,080,525 159,218,333 159,354,103 169,282,145 169,429,321 169,453,809 169,943,686 170,274,184 170,305,914 170,326,731 170,342,169 170,354,366 170,364,300 170,372,743 170,378,436 170,376,340 170,329,329 170,101,447 170,065,773 170,247,904 170,293,089 170,318,636 170,335,589
EBITDA ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
OPERATING ACTIVITIES
EBITDA ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
plus PBI if not available for debt service:
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt interest payment ($) 0 159,582,864 154,889,117 149,866,808 144,492,937 138,742,894 132,590,349 126,007,126 118,963,077 111,425,945 103,361,213 94,731,950 85,498,639 75,618,996 65,047,778 53,736,575 41,633,587 28,683,391 14,826,680 0 0 0 0 0 0 0 0 0 0 0 0
Cash flow from operating activities ($) 0 160,145,739 175,376,045 188,871,247 202,352,209 216,052,319 230,068,796 244,461,488 259,280,552 274,554,637 290,241,906 296,122,854 309,414,001 319,968,817 344,046,664 364,470,154 377,447,984 390,972,137 405,254,497 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
INVESTING ACTIVITIES
Total installed cost ($) -3,712,728,718
Debt closing costs ($) 0
Debt up-front fee ($) 0
minus:
Total IBI income ($) 0
Total CBI income ($) 0
equals:
Purchase of property ($) -3,712,728,718
plus:
Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from investing activities ($) -3,712,728,718 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
FINANCING ACTIVITIES
Issuance of equity ($) 1,432,973,511
Size of debt ($) 2,279,755,207
minus:
Debt principal payment ($) 0 67,053,532 71,747,279 76,769,589 82,143,460 87,893,502 94,046,047 100,629,270 107,673,319 115,210,452 123,275,183 131,904,446 141,137,757 151,017,400 161,588,618 172,899,822 185,002,809 197,953,006 211,809,716 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash flow from financing activities ($) 3,712,728,718 -67,053,532 -71,747,279 -76,769,589 -82,143,460 -87,893,502 -94,046,047 -100,629,270 -107,673,319 -115,210,452 -123,275,183 -131,904,446 -141,137,757 -151,017,400 -161,588,618 -172,899,822 -185,002,809 -197,953,006 -211,809,716 0 0 0 0 0 0 0 0 0 0 0 0
PROJECT RETURNS
Pre-tax Cash Flow:
Cash flow from operating activities ($) 0 160,145,739 175,376,045 188,871,247 202,352,209 216,052,319 230,068,796 244,461,488 259,280,552 274,554,637 290,241,906 296,122,854 309,414,001 319,968,817 344,046,664 364,470,154 377,447,984 390,972,137 405,254,497 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Cash flow from investing activities ($) -3,712,728,718 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Cash flow from financing activities ($) 3,712,728,718 -67,053,532 -71,747,279 -76,769,589 -82,143,460 -87,893,502 -94,046,047 -100,629,270 -107,673,319 -115,210,452 -123,275,183 -131,904,446 -141,137,757 -151,017,400 -161,588,618 -172,899,822 -185,002,809 -197,953,006 -211,809,716 0 0 0 0 0 0 0 0 0 0 0 0
Total pre-tax cash flow ($) 0 93,092,207 103,628,766 112,101,659 120,208,750 128,158,817 136,022,749 143,832,218 151,607,233 159,344,185 166,966,722 164,218,408 168,276,244 168,951,416 182,458,045 191,570,332 192,445,175 193,019,131 193,444,780 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Pre-tax Returns:
Issuance of equity ($) 1,432,973,511
Total pre-tax cash flow ($) 0 93,092,207 103,628,766 112,101,659 120,208,750 128,158,817 136,022,749 143,832,218 151,607,233 159,344,185 166,966,722 164,218,408 168,276,244 168,951,416 182,458,045 191,570,332 192,445,175 193,019,131 193,444,780 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Total pre-tax returns ($) -1,432,973,511 93,092,207 103,628,766 112,101,659 120,208,750 128,158,817 136,022,749 143,832,218 151,607,233 159,344,185 166,966,722 164,218,408 168,276,244 168,951,416 182,458,045 191,570,332 192,445,175 193,019,131 193,444,780 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
After-tax Returns:
Total pre-tax returns ($) -1,432,973,511 93,092,207 103,628,766 112,101,659 120,208,750 128,158,817 136,022,749 143,832,218 151,607,233 159,344,185 166,966,722 164,218,408 168,276,244 168,951,416 182,458,045 191,570,332 192,445,175 193,019,131 193,444,780 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Federal ITC total income ($) 0 1,113,818,615 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal tax benefit (liability) ($) 0 94,413,232 167,268,580 83,594,801 32,311,371 29,565,252 -9,680,210 -49,001,083 -51,971,490 -55,033,104 -58,177,539 -59,356,345 -62,020,489 -64,136,149 -68,962,433 -73,056,220 -75,657,561 -78,368,410 -81,231,238 -84,270,578 -84,325,477 -84,372,140 -84,403,602 -84,392,022 -84,132,213 -82,872,808 -82,675,652 -83,682,208 -83,931,926 -84,073,113 -158,586,599
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 21,431,326 37,969,121 18,975,597 7,334,517 6,711,162 -2,197,359 -11,122,998 -11,797,265 -12,492,236 -13,206,007 -13,473,590 -14,078,337 -14,558,581 -15,654,123 -16,583,392 -17,173,883 -17,789,232 -18,439,080 -19,128,994 -19,141,456 -19,152,048 -19,159,190 -19,156,562 -19,097,586 -18,811,708 -18,766,954 -18,995,438 -19,052,122 -19,084,171 -35,998,355
Total after-tax returns ($) -1,432,973,511 1,322,755,380 308,866,466 214,672,057 159,854,638 164,435,232 124,145,180 83,708,137 87,838,477 91,818,845 95,583,177 91,388,473 92,177,417 90,256,686 97,841,489 101,930,720 99,613,730 96,861,489 93,774,463 317,017,888 317,224,414 317,399,954 317,518,313 317,474,749 316,497,373 311,759,612 311,017,929 314,804,498 315,743,914 316,275,044 596,587,683
After-tax net cash flow ($) -136,414,822 -181,014,483 -578,113,378 -537,430,829 1,322,755,380 308,866,466 214,672,057 159,854,638 164,435,232 124,145,180 83,708,137 87,838,477 91,818,845 95,583,177 91,388,473 92,177,417 90,256,686 97,841,489 101,930,720 99,613,730 96,861,489 93,774,463 317,017,888 317,224,414 317,399,954 317,518,313 317,474,749 316,497,373 311,759,612 311,017,929 314,804,498 315,743,914 316,275,044 596,587,683
After-tax cumulative IRR (%) NaN NaN NaN NaN -4.08 6.21 11.31 14.10 16.24 17.46 18.10 18.64 19.08 19.45 19.73 19.95 20.13 20.29 20.42 20.52 20.60 20.67 20.84 20.98 21.09 21.18 21.25 21.30 21.35 21.39 21.42 21.44 21.46 21.49
After-tax cumulative NPV ($) -136,414,822 -293,327,515 -727,740,227 -1,077,811,789 -330,918,518 -179,738,455 -88,654,048 -29,859,303 22,567,442 56,878,383 76,933,039 95,175,233 111,705,081 126,621,454 138,984,286 149,793,542 158,968,317 167,589,838 175,375,770 181,971,601 187,531,235 192,197,016 205,870,158 217,730,465 228,017,280 236,937,747 244,669,407 251,350,976 257,056,203 261,990,022 266,318,981 270,082,745 273,350,857 278,694,669
AFTER-TAX LCOE AND PPA PRICE
Annual costs ($) -136,414,822 -181,014,483 -578,113,378 -537,430,829 844,988,504 -179,624,642 -282,442,861 -345,511,772 -349,022,850 -397,316,904 -445,702,515 -449,485,676 -453,380,069 -457,374,045 -468,748,477 -472,164,543 -474,784,936 -481,196,639 -486,550,192 -489,773,755 -493,120,770 -496,648,882 -273,753,938 -273,831,233 -273,896,931 -273,941,228 -273,924,924 -273,559,129 -271,785,963 -271,508,379 -272,925,549 -273,277,137 -273,475,919 6,352,328
PPA revenue ($) 0 0 0 0 477,766,875 488,491,109 497,114,918 505,366,410 513,458,082 521,462,083 529,410,652 537,324,154 545,198,915 552,957,222 560,136,949 564,341,961 565,041,621 579,038,128 588,480,912 589,387,485 589,982,259 590,423,346 590,771,827 591,055,646 591,296,885 591,459,541 591,399,674 590,056,502 583,545,575 582,526,308 587,730,047 589,021,051 589,750,963 590,235,354
Electricity to grid (kWh) 0 0 0 0 4,154,494,569 4,181,212,950 4,189,406,019 4,194,260,188 4,197,662,540 4,200,258,425 4,202,338,883 4,204,085,390 4,205,483,759 4,205,957,420 4,202,077,639 4,176,289,208 4,125,595,949 4,172,045,018 4,185,497,243 4,191,945,128 4,196,175,382 4,199,312,558 4,201,791,085 4,203,809,718 4,205,525,496 4,206,682,370 4,206,256,569 4,196,703,431 4,150,395,274 4,143,145,859 4,180,156,805 4,189,338,914 4,194,530,322 4,197,975,491
Present value of annual costs ($) 1,911,921,980
Present value of annual energy costs ($) 1,911,921,980
Present value of annual energy nominal (kWh) 17,511,358,840
LCOE Levelized cost of energy nominal (cents/kWh) 10.92
Present value of PPA revenue ($) 2,190,616,648
Present value of annual energy nominal (kWh) 17,511,358,840
LPPA Levelized PPA price nominal (cents/kWh) 12.51
PROJECT STATE INCOME TAXES
EBITDA ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State taxable IBI income ($) 0
State taxable CBI income ($) 0
minus:
Debt interest payment ($) 0 159,582,864 154,889,117 149,866,808 144,492,937 138,742,894 132,590,349 126,007,126 118,963,077 111,425,945 103,361,213 94,731,950 85,498,639 75,618,996 65,047,778 53,736,575 41,633,587 28,683,391 14,826,680 0 0 0 0 0 0 0 0 0 0 0 0
Total state tax depreciation ($) 0 631,163,882 1,009,862,211 605,917,327 363,550,396 363,550,396 181,775,198 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
State taxable income ($) 0 -471,018,143 -834,486,166 -417,046,079 -161,198,187 -147,498,077 48,293,598 244,461,488 259,280,552 274,554,637 290,241,906 296,122,854 309,414,001 319,968,817 344,046,664 364,470,154 377,447,984 390,972,137 405,254,497 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
State income tax rate (frac) 0.0 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05
State tax benefit (liability) ($) 0 21,431,326 37,969,121 18,975,597 7,334,517 6,711,162 -2,197,359 -11,122,998 -11,797,265 -12,492,236 -13,206,007 -13,473,590 -14,078,337 -14,558,581 -15,654,123 -16,583,392 -17,173,883 -17,789,232 -18,439,080 -19,128,994 -19,141,456 -19,152,048 -19,159,190 -19,156,562 -19,097,586 -18,811,708 -18,766,954 -18,995,438 -19,052,122 -19,084,171 -35,998,355
PROJECT FEDERAL INCOME TAXES
EBITDA ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State tax benefit (liability) ($) 0 21,431,326 37,969,121 18,975,597 7,334,517 6,711,162 -2,197,359 -11,122,998 -11,797,265 -12,492,236 -13,206,007 -13,473,590 -14,078,337 -14,558,581 -15,654,123 -16,583,392 -17,173,883 -17,789,232 -18,439,080 -19,128,994 -19,141,456 -19,152,048 -19,159,190 -19,156,562 -19,097,586 -18,811,708 -18,766,954 -18,995,438 -19,052,122 -19,084,171 -35,998,355
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal taxable IBI income ($) 0
Federal taxable CBI income ($) 0
Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
minus:
Debt interest payment ($) 0 159,582,864 154,889,117 149,866,808 144,492,937 138,742,894 132,590,349 126,007,126 118,963,077 111,425,945 103,361,213 94,731,950 85,498,639 75,618,996 65,047,778 53,736,575 41,633,587 28,683,391 14,826,680 0 0 0 0 0 0 0 0 0 0 0 0
Total federal tax depreciation ($) 0 631,163,882 1,009,862,211 605,917,327 363,550,396 363,550,396 181,775,198 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Federal taxable income ($) 0 -449,586,818 -796,517,045 -398,070,483 -153,863,669 -140,786,914 46,096,239 233,338,491 247,483,287 262,062,401 277,035,899 282,649,264 295,335,664 305,410,235 328,392,540 347,886,762 360,274,101 373,182,905 386,815,417 401,288,466 401,549,891 401,772,093 401,921,915 401,866,771 400,629,587 394,632,421 393,693,581 398,486,706 399,675,840 400,348,157 755,174,282
Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21
Federal tax benefit (liability) ($) 0 94,413,232 167,268,580 83,594,801 32,311,371 29,565,252 -9,680,210 -49,001,083 -51,971,490 -55,033,104 -58,177,539 -59,356,345 -62,020,489 -64,136,149 -68,962,433 -73,056,220 -75,657,561 -78,368,410 -81,231,238 -84,270,578 -84,325,477 -84,372,140 -84,403,602 -84,392,022 -84,132,213 -82,872,808 -82,675,652 -83,682,208 -83,931,926 -84,073,113 -158,586,599
CASH INCENTIVES
Federal IBI income ($) 0
State IBI income ($) 0
Utility IBI income ($) 0
Other IBI income ($) 0
Total IBI income ($) 0
Federal CBI income ($) 0
State CBI income ($) 0
Utility CBI income ($) 0
Other CBI income ($) 0
Total CBI income ($) 0
Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
TAX CREDITS
Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC percent income ($) 0 1,113,818,615 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Federal ITC total income ($) 0 1,113,818,615 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
DEBT REPAYMENT
Debt balance ($) 2,279,755,207 2,212,701,675 2,140,954,396 2,064,184,808 1,982,041,348 1,894,147,846 1,800,101,799 1,699,472,529 1,591,799,209 1,476,588,758 1,353,313,575 1,221,409,128 1,080,271,371 929,253,971 767,665,353 594,765,531 409,762,722 211,809,716 0 0 0 0 0 0 0 0 0 0 0 0 0
Debt interest payment ($) 0 159,582,864 154,889,117 149,866,808 144,492,937 138,742,894 132,590,349 126,007,126 118,963,077 111,425,945 103,361,213 94,731,950 85,498,639 75,618,996 65,047,778 53,736,575 41,633,587 28,683,391 14,826,680 0 0 0 0 0 0 0 0 0 0 0 0
Debt principal payment ($) 0 67,053,532 71,747,279 76,769,589 82,143,460 87,893,502 94,046,047 100,629,270 107,673,319 115,210,452 123,275,183 131,904,446 141,137,757 151,017,400 161,588,618 172,899,822 185,002,809 197,953,006 211,809,716 0 0 0 0 0 0 0 0 0 0 0 0
Debt total payment ($) 0 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 0 0 0 0 0 0 0 0 0 0 0 0
DSCR (DEBT FRACTION)
EBITDA ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 420,417,461 420,691,347 420,924,142 421,081,105 421,023,333 419,727,173 413,444,128 412,460,535 417,482,143 418,727,963 419,432,328 791,172,637
minus:
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
equals:
Cash available for debt service (CAFDS) ($) 0 319,728,603 330,265,163 338,738,055 346,845,146 354,795,214 362,659,145 370,468,614 378,243,629 385,980,582 393,603,119 390,854,804 394,912,640 395,587,813 409,094,442 418,206,728 419,081,571 419,655,528 420,081,177 0 0 0 0 0 0 0 0 0 0 0 0
Debt total payment ($) 0 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 226,636,396 0 0 0 0 0 0 0 0 0 0 0 0
DSCR (pre-tax) 0.0 1.41 1.46 1.49 1.53 1.57 1.60 1.63 1.67 1.70 1.74 1.72 1.74 1.75 1.81 1.85 1.85 1.85 1.85 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
RESERVES
Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves working capital balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves receivables balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 2 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Reserves total reserves balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest on reserves (%/year) 1.75
Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
***EXTENDED ECONOMICS***
Royalty Holder NPV: 194.79 MUSD
Royalty Holder Average Annual Revenue: 14.70 MUSD/yr
Royalty Holder Total Revenue: 499.80 MUSD