Info Report Check
Submission incomplete:
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 09.0 paragraph 129 (a) (b) (c).
1. In accordance with paragraph 129 (a) to (c) of VVS version 09, the DOE is requested to 1) clarify how it has validated the accuracy and suitability of input parameters used in the financial calculations as presented in the IRR spreadsheet, given the fact that the DOE has not provided any validation opinion on parameters such as project auxiliary consumption, annual panel degradation, escalation in the operational expenses, land lease expenses, escalation in land lease expenses, insurance cost, loan interest rate, loan tenure, moratorium period and plant depreciation, 2) further substantiate how it has cross checked all the input parameters against third-party or publicly available sources, in particular the total capital cost, O&M cost, power tariff rate and annual degradation, and 3) clarify the appropriateness of power tariff used in the IRR calculation, given the fact that the input parameter does not account any escalation during the lifetime of the project activity, whereas the PP has calculated nominal IRR and applied escalation rate in other input parameters such as O&M and land lease cost.

2. In accordance with paragraph 17 (i) of VVS version 09, the DOE shall document all the assumptions for the input parameters used in the IRR calculation in a factual and coherent manner, and provide reference to all the sources (along with the dates) that have been used for validation.