Since I am following the Indian Solar Scenario for a while, I am aware that Azure Power has also installed and commissioned successfully 2 MW Solar Project in Punjab. But also from the information available on the UNFCCC website and elsewhere, it is known that the particular 2MW project is not registered for claiming any benefits in the form of carbon credits. I would like the DOE to check that even though the new project is automatically additional (< 15MW Solar) was there serious consideration for CDM for the upcoming 10MW Project of which 5.1MW is comissioned. Since they have not considered CDM/ other (similar) revenue for the project for the 2 MW Project when the costs were even more prohibitive, is there actually a need for the CDM revenue for this project. 

DOE to check whether tax holiday is corrected applied in the financial calculations i.e. 10 years strict tax holiday and not payment of any type of tax whatsoever. 

DOE to check whether the tax benefits (tax shielding) is correctly applied. Also, for tax shielding the corporate tax should be applied.

In case MAT is also applied, DOE to check the correctness of MAT calculations. Also, check whether MAT credit is considered correctly.

The project cost should be compared with that indicated in the applicable tariff order available at the time of investment decision making. 

The technology supplier can charge a premium price for the WTGs so that the project becomes additional for CDM benefits.

DOE to validate whether a unlevered beta or levered beta would be applicable with proper justification and appropriate reference. An unlevered beta is most appropriate as it leads to a conservative benchmark and hence should be used.

Do the validators used by DOE have the competency to validate the financial sheets presented by the PP or are they taking help from external financial experts.