Installation of Top-Pressure Recovery Turbine at Blast Furnace -4
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Host party(ies) India
Methodology(ies) ACM0012 ver. 4
Standardised Baselines N/A
Estimated annual reductions* 49,432
Start date of first crediting period. 01 Jan 12
Length of first crediting period. 10 years
DOE/AE Bureau Veritas India Pvt. Ltd.
Period for comments 19 Jul 11 - 17 Aug 11
PP(s) for which DOE have a contractual obligation JSW Steel Limited
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 (825 KB)
Local stakeholder consultation report: N/A
Impact assessment summary: N/A
Submission of comments to the DOE/AE Compilation of submitted inputs: 
The WACC is given as 14.98%. The interest rate is 11.5% and tax rate of 33.99%. This  will give a return of more than 33% on equity. This is very high compared to default return given by EB. Moreover, the calculation of return on equity has not been disclosed. The PDD states, “The listed companies whose beta value available at the time of investment decision (year 2007) is given in the table below”, but surprising no information has been given below!!. PDD is not transparent and DOE should not have web hosted this project

Waste heat recovery project is eligible for 100% depreciation. Since it is a power project it is eligible for tax holiday. Financial indicator calculation should consider this in calculation

O&M cost is given as 48.9 mn. for a project cost of  58.3 mn. Even if the cost of 58.3 mn. is taken as per MW cost – though it is not stated in the PDD-  the O&M cost will be more than 6% of the project cost. This is very high and DOE should not accept this. There are so many waste heat recovery projects which have assumed O&M cost of less than 5%. 

The project does not seem to be additional
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