Grid Connected Solar Photovoltaic project by M/s Solar Semiconductor Power Company (India) Private Limited in the State of Gujarat, India
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Host party(ies) India
Methodology(ies) ACM0002 ver. 12
Standardised Baselines N/A
Estimated annual reductions* 29,266
Start date of first crediting period. 01 Jan 12
Length of first crediting period. 7 years
DOE/AE TÜV NORD CERT GmbH
Period for comments 19 Oct 11 - 17 Nov 11
PP(s) for which DOE have a contractual obligation Solar Semiconductor Power Company (India) Pvt. Ltd.
The operational/applicant entity working on this project has decided to make the Project Design Document (PDD) publicly available directly on the UNFCCC CDM website.
PDD PDD (n/a)
Local stakeholder consultation report: N/A
Impact assessment summary: N/A
Submission of comments to the DOE/AE Compilation of submitted inputs:
When the project is financed by term loan of Rs.2005 mn. and equity of only Rs.859 mn. on what basis the PP has selected equity IRR as financial indicator? Sub-step II(b) of Additionality Tool clearly states, “Identify the financial indicator, such as IRR, NPV, cost benefit ratio, or unit cost of service most suitable for the project type and decision-making context”. How equity IRR conforms to this requirement except that it permits to have a higher benchmark and make the project additional. 

Chinese projects are set up at R120 to 130 lakhs per MW. The project cost works out to Rs.143 lakhs. DOE should check the purchase order and take the cost as per purchase order. 

PLF is 17.60%, and is derated by 0.8% every years. This is much lower to PLF assumed by other projects in Gujarat and GERC prescribed PLF. Moreover, does GERC provides for derating? On what basis derating has been taken? Both PLF and derating are not correct

The company is a part of Solar Semoi Conductor Power Company, which is a profitable company. Hence, the tax saving due to depreciation the project gets should be taken into consideration. As per GERC order, this project can avail accelerated depreciation. The project will also get tax holiday. The tax savings due to accelerated depreciation and tax holiday should be taken into account in IRR.

DOE should not allow change in any of the input parameters or inclusion of any expenditure and cost during validation other than what is given in the PDD available to Global Stakeholders

Submitted by: Karthikeyan


The comment period is over.
* Emission reductions in metric tonnes of CO2 equivalent per annum that are based on the estimates provided by the project participants in unvalidated PDDs