1. The Project Owner (PO) has been taking continuous real actions for CDM. Has the PO avaialed benefits from other sources such as the voluntary market?
If yes, then PO should include the benefits availed from the same or should include the same in future cash projections in the IRR. 

1. In Section B.5, where the Benchmark analysis has been considered it is mentioned that the Benchmark WACC for the project is 12.47% and 19.9% is the cost of Equity. 
A)     In Annexure 3, where the computation has been done, it is mentioned that 19.9% is the cost of equity for Octal, as there is no debt. 
Why has the PO not given the Project IRR calculation for REI Agro project.
B)      Also, while performing the Sensitivity analysis, the Benchmark rate of 12.47% has been taken as the Project IRR for REI Agro. Would this be correct as the Benchmark has been computed using the 70:30 ratio of debt and equity and in case of Rei Agro the same is 80:20. This would definitely have an impact on the IRR
Could the PO explain the above?

1) Has the PO considered the Tax holiday while computing IRR
 
2) As per IT Act, Depreciation to the extent of 80% can be claimed in the 1st year, how come the PO has considered the entire 100% in the first year?

1. Since the Project Owner (PO) is applying for CDM after almost 4 years, why has the PO not considered the Final Purchase Order for the cost of project? 

Is the NEG Micon offer same as the cost on final Purchase Order?

Since the PPA has been signed for 13 years only, did the project owner sign any other PPA post the end of 13 year term? If yes then at what consideration has the same been settled?

PO should clearly mention the status of electricity sale post 13 year term.