Info Report Check
Submission incomplete:
1: The DOE is requested to confirm the appropriateness of the underlying assumptions and the accuracy of the financial calculations carried out for the investment analysis as per VVS version 7 paragraphs 125 and 127 (c) & (d).
Page 22 of the PDD and the investment analysis spread sheets have stated that the five project sites of the project activity are funded only by equity, without any debt financing. However, the statements in the PDD (e.g. "after completion of 10 years debt servicing" in page 26) and the validation report (e.g. "since the project has various debt related obligations"in page 59) indicates debt financing, which is not consistent with the previous statement of no debt financing. The DOE is requested to provide information on how it has validated there is no debt financing in each of the five project sites. If there is any debt financing, the DOE is further requested to provide information on how it has validated the accuracy of the investment analysis given the fact that no debt financing has been considered in the investment analysis.

2: The DOE is requested to describe how it has validated the suitability of the input values used in the financial calculations as per VVS version 7 paragraphs 125 and 127 (a).
For tariff order (i.e. KERC) applied in the first project site (AMGPL (Sindhgiri)), the DOE has mentioned that the KERC has determined a simple average fixed tariff rate of INR 3.70/kWh for 10 years (page 58 of validation report), whereas page 25 of the PDD has indicated a fix tariff for 20 years as per the tariff order. The DOE/PP are requested to address this inconsistency.