DNVGL Report III TrinaBOS and LCOE calculation Japan 210203 Clean

TECHNICAL REPORT (BOS & LCOE CALCULATION)
BOS & LCOE Calculation of a
Fixed Tilt Ground-mount
Installation – Japan
Trina Solar Co., Ltd.
Report No.: 10265641, Rev. D
Document No.: 10265641-JPYO-R-01-D
Date: 2021-02-03
IMPORTANT NOTICE AND DISCLAIMER
1.
This document is intended for the sole use of the Customer as detailed on the front page of this document to
whom the document is addressed and who has entered into a written agreement with the DNV GL entity
issuing this document (“DNV GL”). To the extent permitted by law, neither DNV GL nor any group
company (the "Group") assumes any responsibility whether in contract, tort including without limitation
negligence, or otherwise howsoever, to third parties (being persons other than the Customer), and no
company in the Group other than DNV GL shall be liable for any loss or damage whatsoever suffered by
virtue of any act, omission or default (whether arising by negligence or otherwise) by DNV GL, the Group
or any of its or their servants, subcontractors or agents. This document must be read in its entirety and is
subject to any assumptions and qualifications expressed therein as well as in any other relevant
communications in connection with it. This document may contain detailed technical data which is intended
for use only by persons possessing requisite expertise in its subject matter.
2.
This document is protected by copyright and may only be reproduced and circulated in accordance with the
Document Classification and associated conditions stipulated or referred to in this document and/or in DNV
GL’s written agreement with the Customer. No part of this document may be disclosed in any public offering
memorandum, prospectus or stock exchange listing, circular or announcement without the express and prior
written consent of DNV GL. A Document Classification permitting the Customer to redistribute this document
shall not thereby imply that DNV GL has any liability to any recipient other than the Customer.
3.
This document has been produced from information relating to dates and periods referred to in this
document. This document does not imply that any information is not subject to change. Except and to the
extent that checking or verification of information or data is expressly agreed within the written scope of its
services, DNV GL shall not be responsible in any way in connection with erroneous information or data
provided to it by the Customer or any third party, or for the effects of any such erroneous information or
data whether or not contained or referred to in this document.
4.
Any energy forecasts, estimates or predictions are subject to factors not all of which are within the scope of
the probability and uncertainties contained or referred to in this document and nothing in this document
guarantees any particular energy output.
KEY TO DOCUMENT CLASSIFICATION
Strictly Confidential
:
For disclosure only to named individuals within the
Customer’s organisation.
Private and Confidential
:
For disclosure only to individuals directly concerned
with the subject matter of the document within the
Customer’s organisation.
Commercial in Confidence
:
Not to be disclosed outside the Customer’s
organisation.
DNV GL only
:
Not to be disclosed to non-DNV GL staff
Customer’s Discretion
:
Distribution for information only at the discretion of the
Customer (subject to the above Important Notice and
Disclaimer and the terms of DNV GL’s written
agreement with the Customer).
Published
:
Available for information only to the general public
(subject to the above Important Notice and
Disclaimer).
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Project name:
Technical Report (BOS & LCOE Calculation)
DNV GL AS, Japan Branch
Report title:
BOS & LCOE Calculation of a Fixed Tilt Ground-mount
Installation – Japan
Customer:
Trina Solar Co., Ltd.
Nisseki Yokohama Bldg., 14F, 1-1-8
Sakuragi-cho, Naka-ku, Yokohama,
Kanagawa 231-0062, Japan
Contact person:
Mr. Xing Gao / Mr. Kuniyasu Ito
Date of issue:
2021-02-03
Project No.:
10265641
Report No.:
10265641, Rev. D
Document No.:
10265641-JPYO-R-01-D
Tel: +81 45 305 6560
Task and objective:
BOS and LCOE calculation of a fixed tilt ground-mount installation of solar PV system – Aomori, Japan
Prepared by:
Verified by:
Approved by:
Peerawan Tadpikultong
Yoshihisa Wakamatsu
Yukinobu Uchida
Consultant, Renewables Advisory Singapore
Principal Consultant, Renewables
Advisory - Japan
Country Manager, Renewables
Advisory - Japan
Sajni Chatly
Christopher Smith
Consultant, Renewables Advisory Singapore
Senior Consultant, Renewables
Advisory - Australia
☐ Strictly Confidential
Keywords:
☐ Private and Confidential
LCOE, Fixed tilt ground-mount installation; Solar PV;
Aomori; Japan
☐ Commercial in Confidence
☐ DNV GL only
☒ Customer’s Discretion
☐ Published
© 2021 DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com. All rights reserved.
Reference to part of this report which may lead to misinterpretation is not permissible.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Rev.
No.
Date
Reason for Issue
Prepared by
Verified by
Approved by
A
2020-12-11
First issue
Peerawan T.
Yoshihisa W.
Yukinobu Uchida
B
2020-12-24
Second issue
Peerawan T.
Yoshihisa W.
Yukinobu Uchida
C
2021-01-13
Third issue
Peerawan T.
Yoshihisa W.
Yukinobu Uchida
D
2021-02-03
Final issue
Peerawan T.
Yoshihisa W.
Yukinobu Uchida
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Table of contents
1 INTRODUCTION ........................................................................................................................ 1
2 PROPOSED LAYOUT ................................................................................................................... 2
3 ENERGY ASSESSMENT ............................................................................................................... 4
3.1 Project Description
4
3.2 Solar Resource Assessment
5
3.3 Loss factors and energy production
6
3.4 Uncertainty analysis
9
4 COST ESTIMATION .................................................................................................................. 15
4.1 Model Assumption
15
4.2 CAPEX Analysis
16
4.3 OPEX Analysis
20
4.4 LCOE Analysis
20
5 SUMMARY .............................................................................................................................. 22
6 REFERENCES .......................................................................................................................... 23
Appendices
COST-EFFECTIVENESS COMPARISON BETWEEN MODULE TYPES .............................. A-1
.................................................................................... B-1
INVERTER DATASHEET ....................................................................................... C-1
RACKING SYSTEM (PROPOSED RACKING DESIGN).................................................D-1
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
1 INTRODUCTION
At the request of Trina Solar Co., Ltd. (the “Customers”), DNV GL has conducted an analysis of Levelized
Cost of Electricity (“LCOE”) for 5 different types of PV modules installed in a PV plant located in Aomori,
Japan (“the Project”).
The purpose of this analysis is to compare the energy generation, the capital expenditure (CAPEX), the
operating expenditure (OPEX), and the derived LCOE cost for 5 different PV modules proposed by the
Customer; 450Wp, 535Wp, 545Wp, 585Wp and 600Wp. A total of five (5) energy production assessments
have been performed to support the yield inputs to the financial model.
The location of the Project used in the analysis has been proposed by the Customer. The Project is located
in Kamikita district, Aomori prefecture at GPS coordinate of 40.815450°, 141.084902°. The terrain
elevation of the Project varies from 90m to 160m. However, in this analysis, the terrain is assumed to be
flat with an elevation of 100m as proposed by the Customer.
Figure 1-1: Map of Project location
DNV GL notes that based on the Customer’s clarification, three (3) of the PV modules assessed in this
report (450Wp, 545Wp and 600Wp) belong to Trina Solar and the remaining two (2) PV modules (535Wp
and 585Wp) are the generic modules from other manufacturers which have been used for comparative
purpose only.
The Customer has provided the technical datasheet for PV modules used in the analysis. The datasheets
for Trina solar modules are presented in Appendix A of this report.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
1
2 PROPOSED LAYOUT
This section focuses on the preparation of the PV layout created for each type of module installed in the
proposed project location. The quantities of PV modules, inverter and mounting structures estimated in
these layouts are used as inputs to the energy assessment and LCOE cost estimation.
DNV GL has defined the layout giving the priority to the AC capacity fixed at 10MWac and adjusting the
DC capacity to be at approximately 1.50 DC/AC ratio (i.e. 15MWdc). The PV array tilt has been optimised
for optimal gain of the solar irradiation. The pitch distance between structures has been pragmatically set
up in order to maintain the targeted DC capacity of 15MWdc.
The proposed layout for Aomori Project is shown in Figure 2-1 below.
Figure 2-1: Proposed layout for Aomori Project
DNV GL highlights that the simulated layouts are indicative and not for construction purposes. A detailed
study on topography and area restrictions shall be performed for the development of the Project.
DNV GL has made some assumptions regarding the characterization of the plant in order to simplify the
analysis. The assumptions are made based on DNV GL’s experience in similar projects in Japan. For
simplicity, DNV GL has assumed an average cable thickness for each cabling type (DC, AC LV and AC MV)
and assumed the drainage system and internal road to be constructed along the Project perimeter and
across the plant as shown in the layout.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
2
Based on the preliminary layout designed for each PV module type, the estimated quantities of Balance of
System (BoS) components are summarized in Table 2-1 below.
Table 2-1 Summary of BoS components
BOS Components
450Wp
535Wp
545Wp
585Wp
600Wp
Trina solar
Generic
module
Trina solar
Generic
module
Trina solar
33,372 mod
28,080 mod
27,576 mod
25,680 mod
25,024 mod
DC combiner box type
18-in-1
16-in-1
12-in-1
16-in-1
12-in-1
DC Combiner box
70 units
70 units
70 units
70 units
70 units
Inverter SMA
SHP-143-JP-20, 143kW
70 units
70 units
70 units
70 units
70 units
MV station (ACCB, MV Transformer
& switchgear)
2MVA, 6.6/0.55kV
5 sets
5 sets
5 sets
5 sets
5 sets
HV Transformer
10MVA, 66/6.6kV
1 set
1 set
1 set
1 set
1 set
(4x6) – 1,236
(4x6) – 1,040
(4x6) - 766
(4x3) – 309
(4x3) - 260
(4x3) - 766
DC conductor 1 (1500 V, 6mm &
MC4 connectors)
49,440 m
41,600 m
30,640 m
42,800 m
31,280 m
DC conductor 2 (1500 V, 38mm2)
28,000 m
28,000 m
28,000 m
28,000 m
28,000 m
700 m
700 m
700 m
700 m
700 m
50 m
50 m
50 m
50 m
50 m
500 m
500 m
500 m
500 m
500 m
SCADA system
1 set
1 set
1 set
1 set
1 set
CCTV
5 sets
5 sets
5 sets
5 sets
5 sets
2500 m
2500 m
2500 m
2500 m
2500 m
PV Module
Rack design and quantity
(unit)
2
LV AC conductor 1 (Inverter
station, 600 V, 60mm2)
LV AC conductor 2 (AC combiner,
600 V, 100mm2)
MV AC conductor 3 (MV
transformer, 6.6 kV, 60 mm2)
Internal road
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
(4x6) - 1070
(4x6) - 782
(4x4) - 391
3
3 ENERGY ASSESSMENT
DNV GL has performed an energy yield assessment for each module type based on the preliminary design
and optimised layout as discussed in Section 2.
DNV GL highlights that the results of the simulation presented in this Section shall not be considered as
final estimates of the expected PV plant energy production. When the final layout and PV module
characteristics are defined, the energy assessment results shall be reviewed and updated accordingly.
3.1 Project Description
The summary of the key design parameters for each module comparison is presented in Table 3-1 below.
Table 3-1 Key design parameters
BoS Components
450Wp
535Wp
545Wp
585Wp
600Wp
Trina solar
Generic
module
Trina solar
Generic
module
Trina solar
Structure type
Fixed tilt, 4-rows in width, landscape orientation
Axis tilt
32°
Axis azimuth
0° (South)
Structure height above
ground
1.5m
1.6m
Collector width
4.2m
4.5m
4.3m
4.5m
5.2m
Pitch
5.1m
5.5m
5.3m
5.5m
6.4m
Inverter type
String inverter, SMA Sunny Highpower PEAK3
Inverter rated capacity
and quantity
143 kWac, 70 units
Total AC capacity
PV module type
10.01 MWac
Trina solar,
monocrystalline,
144 cells
Generic module,
monocrystalline,
144 cells
Trina solar,
monocrystalline,
110 cells
Generic module,
monocrystalline,
156 cells
Trina solar,
monocrystalline,
120 cells
Module rated capacity
and quantity
450Wp
535Wp
545Wp
585Wp
600Wp
Number of modules
33,372
28,080
27,576
25,680
25,024
15.02 MWp
15.02 MWp
15.03 MWp
15.02 MWp
15.01 MWp
27
27
36
24
32
1.50
1.50
1.50
1.50
1.50
Total DC capacity
Modules per string
Ratio DC/AC
MV/LV Transformer
rating & quantity
2 MVA 6.6/0.55 kV, 5 units
HV/MV Transformer
rating & quantity
10 MVA 66/6.6 kV, 1 unit
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
4
3.2 Solar Resource Assessment
A primary factor in determining the annual energy production for a solar PV project is selecting the solar
irradiance data to use in the performance simulation. The best way to determine the solar resource at a
site is by measuring different parameters of interest at the location of the site, using the appropriate
instruments. For example, global horizontal irradiation (GHI) is measured using a horizontally mounted
pyranometer calibrated under recognised standards.
In the absence of on-site measurement, DNV GL has selected the solar irradiation data from Solargis [1],
a well-known satellite data provider. The data obtained from Solargis consists of a historical 30-minute
time series of Global Horizontal Irradiation (GHI) and Diffuse Horizontal Irradiation (DHI) for the period of
13 completed years from January 2007 to December 2019. The ambient temperature, the snowfall and
precipitation data are selected from the nearest ground measurement station provided by the Japan
Meteorological Agency (JMA) [2].
Table 3-2 below shows the measurement description, resolution and period of meteorological data selected
for the Project.
Table 3-2 Selected MET data sources for GHI, DIF and temperature
Reference
dataset
Solargis
Location
Project Site
Description of
measurements
Satellite-derived data
Period
2007-2019
Data type
• Global Horizontal Irradiance (GHI)
• Diffuse Horizontal Irradiance (DHI)
• Relative Humidity (%)
JMA – Noheji
station
•
Ground
measurement
station
Ground-based
measurement station,
10km from the Project
2007-2019
• Ambient Temperature
• Snowfall
• Precipitation
Solargis Satellite-derived global horizontal irradiation
Solargis provides satellite-derived monthly global horizontal irradiation (GHI), diffuse horizontal
irradiation (DHI) and ambient temperature data (T) for the Project location, for the period from July
2006 to October 2020, calculated from Meteosat and GOES (Geostationary Operational Environmental
Satellite). The data coverage is over 99 % for Meteosat regions. Low data coverage has been identified
in GOES for the eastern part of the South hemisphere. Data for low sun angles are derived by
extrapolation of clear-sky index.
•
Japan Meteorological Agency (JMA)
The Japan Meteorological Agency (JMA) provides meteorological data in monthly and hourly intervals
for specific years. Solar irradiation data are measured from ground-based weather stations using First
Class pyranometers (Eko Instruments MS-402F) at approximately 40 locations and Secondary Standard
pyranometers at approximately 3 locations.
The summary of long-term monthly average global horizontal irradiation (GHI), diffuse horizontal
irradiation (DHI) data obtained from Solargis and ambient temperature data obtained from JMA is shown
in Table 3-3.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
5
Table 3-3 Summary of long-term monthly average GHI, DHI and ambient temperature data
Aomori Project
Month
GHI [kWh/m2/month]
DHI [kWh/m2/month]
Ambient Temperature
[°C]
Jan
48
32
-0.9
Feb
66
42
-0.6
Mar
105
63
2.4
Apr
141
71
7.2
May
157
78
12.4
Jun
145
79
16.0
Jul
127
79
20.2
Aug
125
70
22.0
Sep
110
55
19.1
Oct
89
45
13.2
Nov
55
32
7.1
Dec
40
27
1.6
Annual
1208
671
10.0
3.3 Loss factors and energy production
DNV GL simulated the energy output of the solar PV projects using the PVsyst simulation tool, the most
commonly used simulation tool in the industry. DNV GL currently uses version 6.86 and independently
quality-checks new releases prior to adopting them.
Given that the project is located in complex mountainous terrain, DNV GL expects that terrain surrounding
the project will impact the project’s near shading profile and overall annual energy yield. As such DNV GL
considers the inclusion of the surrounding complex terrain necessary in determining the near shading
profile accurately.
DNV GL has used its proprietary software, SolarFarmer 1.0 to generate a terrain model suitable for near
shade simulation of the project. DNV GL sourced the digital elevation model (DEM) from the base map
information database published by Geospatial Information Authority of Japan, where the complex terrain
model used in simulation is displayed in Figure 3-1.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
6
Figure 3-1 Complex terrain model for the project generated in DNV GL’s proprietary SolarFarmer
software and simulated in PVSyst
DNV GL has calculated, estimated, or assumed losses for the energy simulations where the results are
shown in
below. Losses occurring after the inverter (i.e., AC ohmic, transformer, station loads,
unavailability, and plant controller) are calculated in a post-processing tool. DNV GL notes the following
with respect to the simulations:
•
For all projects, DNV GL has applied the IAM and Low irradiance loss profiles as provided by the
Customer in the PAN files. No 3rd party test report is provided for review.
•
The AC and DC ohmic wiring losses have been pragmatically estimated using typical loss
assumptions.
•
DNV GL has assumed no annual module washes in the soiling model.
•
As requested by the Customer on the soil/snow loss adjustment, DNV GL has assumed the height
of PV mounting structure for 600Wp module to be at 1.6m above ground, while the height for other
module racks (450Wp, 535Wp, 545Wp and 585Wp) are assumed at 1.5m above ground.
•
DNV GL has assumed the plant is unstaffed and all technologies are reliable and proven.
•
Curtailment, power factor and grid unavailability have not been considered.
•
DNV GL has assumed 1st level (LV/MV) and 2nd level (MV/HV) step up transformers. DNV GL has
used standard assumptions on the transformer loss factors based on project experience.
•
DNV GL has applied 0% module quality factor (MQF) for all PV module types.
•
DNV GL has applied 2.5% light induced degradation loss for all PV module types.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
7
Table 3-4 Year-1 energy assessment summary (inputs, losses, and results)
450Wp
535Wp
545Wp
585Wp
600Wp
Trina solar
Generic Module
Trina solar
Generic Module
Trina solar
Global Horizontal Irradiation
(GHI) [kWh/m2/year]
1,361
1,361
1,361
1,361
1,361
Global Irradiation on the
Plane of Array
[kWh/m2/year]
1,208
1,208
1,208
1,208
1,208
POA uplift gain
12.6%
12.6%
12.6%
12.6%
12.6%
Basic inputs
450Wp
535Wp
545Wp
585Wp
600Wp
Trina solar
Generic Module
Trina solar
Generic Module
Trina solar
1.5%
1.5%
1.5%
1.5%
1.5%
14.4%
14.6%
14.6%
14.5%
14.0%
0.4%
0.5%
0.5%
0.5%
0.5%
13.1%
13.2%
13.1%
13.2%
13.2%
Low-irradiance efficiency
reduction
0.6%
0.6%
0.4%
0.6%
0.4%
Temperature
-0.6%
-0.7%
-0.7%
-0.7%
-0.7%
Module Quality Factor
0.0%
0.0%
0.0%
0.0%
0.0%
Light Induced Degradation
2.5%
2.5%
2.5%
2.5%
2.5%
Mismatch
0.6%
0.6%
0.6%
0.6%
0.6%
DC Ohmic
0.3%
0.3%
0.3%
0.3%
0.3%
Inverter losses
4.7%
4.8%
4.8%
4.7%
4.8%
AC Ohmic
0.6%
0.6%
0.6%
0.6%
0.6%
Transformer
1.8%
1.8%
1.8%
1.8%
1.8%
Auxiliary consumption
0.3%
0.3%
0.3%
0.3%
0.3%
Plant controller
0.0%
0.0%
0.0%
0.0%
0.0%
System unavailability
1.0%
1.0%
1.0%
1.0%
1.0%
PVsyst losses
Far Shading/Horizon
Near Shading
Incidence angle (reflective)
Soiling
450Wp
535Wp
545Wp
585Wp
600Wp
Trina solar
Generic Module
Trina solar
Generic Module
Trina solar
Year 1 – P50 Net Energy
[MWh/year]
13,286
13,165
13,339
13,244
13,334
Year 1 – P50 Yield Ratio
[kWh/kWp]
885
881
888
882
888
65.0%
64.7%
65.2%
64.8%
65.3%
Results
Year 1 - Performance
Ratio
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
8
3.4 Uncertainty analysis
The uncertainty of the result is a consequence of the uncertainty of solar radiation, the inaccuracies of the
simulation procedure itself (e.g., choice of models), and uncertainties associated with “external” influences
(e.g., shading, soiling, deviation of components from specification, inverter losses, cabling losses, etc.).
In addition, the year-to-year variability of the solar resource and precipitation results in year-to-year
variability in energy production for the Project contributes to uncertainty.
Inputs into the downside risk estimate include solar resource variability and solar resource, modelling and
degradation uncertainties. DNV GL recommends a 0.64% annual P50 system degradation rate [3].
Exponential models and accelerating degradation rates are often used to model degradation and this
behaviour has been observed in PV systems. DNV GL uses a linear degradation model to account for both
behaviours.
Table 3-5 to Table 3-9 present the annual expected production for the systems at various probabilities of
exceedance. Note that the values in this table present the downside risk for each year independently of
the other years. P99 production would not be expected to occur in every year of the Project’s life, as
presented in this table. Rather, this table functions as a minimum expected production for each year of
the system’s life.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
9
Table 3-5 Projected net energy output for 450Wp Trina solar module [MWh/year]
Year
P50
P75
P90
P95
P99
1
13,286
12,306
11,473
11,023
10,292
2
13,218
12,234
11,398
10,941
10,200
3
13,149
12,157
11,309
10,835
10,062
4
13,079
12,073
11,205
10,705
9,879
5
13,010
11,983
11,089
10,553
9,658
6
12,939
11,887
10,960
10,406
9,502
7
12,869
11,786
10,821
10,248
9,338
8
12,797
11,680
10,671
10,081
9,167
9
12,725
11,569
10,512
9,904
8,990
10
12,653
11,455
10,345
9,719
8,806
11
12,580
11,337
10,171
9,528
8,617
12
12,507
11,215
9,991
9,329
8,422
13
12,433
11,090
9,805
9,126
8,223
14
12,359
10,963
9,614
8,917
8,019
15
12,284
10,833
9,419
8,703
7,812
16
12,209
10,701
9,219
8,485
7,600
17
12,134
10,567
9,017
8,264
7,385
18
12,057
10,432
8,811
8,039
7,167
19
11,981
10,294
8,603
7,812
6,946
20
11,904
10,155
8,391
7,581
6,722
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
10
Table 3-6 Projected net energy output for 535Wp Generic module [MWh/year]
Year
P50
P75
P90
P95
P99
1
13,165
12,188
11,359
10,910
10,183
2
13,097
12,117
11,285
10,830
10,092
3
13,028
12,040
11,196
10,725
9,955
4
12,960
11,957
11,094
10,597
9,774
5
12,891
11,868
10,979
10,446
9,556
6
12,821
11,773
10,852
10,301
9,401
7
12,751
11,673
10,714
10,145
9,240
8
12,680
11,569
10,565
9,979
9,071
9
12,609
11,459
10,408
9,804
8,895
10
12,537
11,346
10,243
9,622
8,714
11
12,465
11,229
10,071
9,432
8,527
12
12,393
11,109
9,893
9,236
8,334
13
12,320
10,986
9,709
9,035
8,137
14
12,247
10,860
9,520
8,828
7,936
15
12,173
10,732
9,327
8,617
7,730
16
12,098
10,601
9,130
8,402
7,521
17
12,023
10,469
8,930
8,183
7,309
18
11,948
10,334
8,727
7,961
7,093
19
11,872
10,198
8,520
7,736
6,874
20
11,796
10,061
8,312
7,508
6,653
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
11
Table 3-7 Projected net energy output for 545Wp Trina solar module [MWh/year]
Year
P50
P75
P90
P95
P99
1
13,339
12,350
11,512
11,057
10,321
2
13,272
12,280
11,438
10,978
10,231
3
13,204
12,205
11,350
10,874
10,094
4
13,137
12,122
11,249
10,745
9,913
5
13,069
12,034
11,134
10,594
9,693
6
13,000
11,940
11,007
10,449
9,539
7
12,931
11,840
10,869
10,293
9,376
8
12,861
11,736
10,720
10,126
9,207
9
12,791
11,627
10,563
9,951
9,031
10
12,720
11,514
10,397
9,768
8,849
11
12,649
11,397
10,224
9,577
8,661
12
12,577
11,277
10,045
9,380
8,467
13
12,504
11,153
9,860
9,178
8,269
14
12,432
11,027
9,671
8,970
8,067
15
12,358
10,899
9,477
8,757
7,860
16
12,284
10,768
9,278
8,541
7,649
17
12,210
10,635
9,077
8,320
7,435
18
12,135
10,500
8,872
8,096
7,218
19
12,059
10,364
8,664
7,869
6,998
20
11,983
10,225
8,454
7,640
6,775
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
12
Table 3-8 Projected net energy output for 585Wp Generic module [MWh/year]
Year
P50
P75
P90
P95
P99
1
13,244
12,263
11,431
10,979
10,249
2
13,176
12,192
11,355
10,899
10,157
3
13,107
12,115
11,267
10,793
10,019
4
13,038
12,031
11,164
10,664
9,838
5
12,969
11,942
11,048
10,513
9,618
6
12,899
11,847
10,921
10,367
9,463
7
12,829
11,746
10,782
10,210
9,300
8
12,758
11,641
10,633
10,043
9,130
9
12,686
11,531
10,475
9,868
8,954
10
12,615
11,417
10,309
9,684
8,771
11
12,542
11,300
10,135
9,493
8,583
12
12,469
11,179
9,956
9,296
8,389
13
12,396
11,055
9,771
9,093
8,191
14
12,322
10,928
9,581
8,885
7,988
15
12,248
10,799
9,387
8,673
7,782
16
12,173
10,668
9,189
8,456
7,571
17
12,098
10,534
8,987
8,236
7,357
18
12,022
10,399
8,782
8,012
7,140
19
11,945
10,262
8,575
7,785
6,920
20
11,869
10,123
8,364
7,556
6,697
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
13
Table 3-9 Projected net energy output for 600Wp Trina solar module [MWh/year]
Year
P50
P75
P90
P95
P99
1
13,334
12,352
11,517
11,062
10,330
2
13,265
12,281
11,441
10,981
10,238
3
13,196
12,203
11,352
10,875
10,099
4
13,127
12,120
11,249
10,745
9,917
5
13,058
12,030
11,133
10,592
9,695
6
12,988
11,934
11,004
10,446
9,539
7
12,917
11,833
10,864
10,288
9,375
8
12,846
11,727
10,714
10,120
9,204
9
12,775
11,617
10,555
9,943
9,026
10
12,703
11,502
10,388
9,758
8,843
11
12,630
11,384
10,214
9,567
8,653
12
12,557
11,262
10,033
9,368
8,458
13
12,484
11,138
9,847
9,164
8,259
14
12,410
11,010
9,656
8,955
8,055
15
12,335
10,881
9,460
8,741
7,847
16
12,260
10,748
9,261
8,523
7,635
17
12,185
10,614
9,058
8,301
7,420
18
12,109
10,478
8,852
8,076
7,201
19
12,032
10,341
8,643
7,848
6,980
20
11,955
10,201
8,432
7,617
6,755
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
14
4 COST ESTIMATION
DNV GL has evaluated the costs of the proposed PV project in Aomori for all PV module types. For
comparison purposes, the simplified cost analysis approach focusing on the key main parameters are
performed for this Project.
DNV GL has selected the following key indicators for the analysis:
•
Capital Costs (CAPEX);
•
Operational Costs (OPEX)
•
Energy Generation (as presented in Section 3);
•
Levelized Cost of Electricity (LCOE);
DNV GL has performed a preliminary analysis of the costs based on the preliminary design and benchmark
from other similar projects and best practice. CAPEX, OPEX and LCOE have been estimated for each
different PV module configuration: 450Wp, 535Wp, 545Wp, 585Wp and 600Wp. Energy generation results
from Section 3 has been used for LCOE estimation.
DNV GL highlights that the results of the analysis shall not be considered as final estimates of the expected
PV plant economic evaluation. This should be revisited once the final design and project specific economic
inputs are available.
4.1 Model Assumption
DNV GL has assumed a common Project Finance, EPC and O&M structure based on standard industry for
solar project development in Japan. The following assumptions are considered:
•
The CAPEX, OPEX and LCOE costs are estimated in JPY;
•
EPC contract is turnkey including all major equipment;
•
Quantities of BoS components are based on preliminary design described in Section 2;
•
PV module costs and transportation have been provided by the Customer;
•
Costs for other key equipment are based on DNV GL’s project experience and equipment
providers;
•
O&M costs include all scheduled and unscheduled costs annualized;
•
The Project operational lifetime is assumed at 20 years;
•
Tariff rate for operational year 1-20 is estimated at 32 JPY/kWh based on the current FIT program;
•
Discount rate has been applied in the LCOE calculation based on the equity and debt cost
assumption specific to Japan. However, DNV GL notes that this is not our area of expertise; and
•
Site-specific construction conditions in a remote heavy-snow mountainous district in Aomori.
DNV GL highlights that the benchmark costs used in the analysis are based on DNV GL’s experience and
we consider that reflect reasonable values for solar project development in Japan. However, DNV GL is
aware that the costs can highly vary depending on the contractor, region, material availability, project
restrictions and affections.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
15
DNV GL recommends revisiting each of the assumptions when specific inputs are provided. It should also
be noted that commodity values are volatile and difficult to predict over the study horizon. However, since
the above assumptions have been considered in all the scenarios, the comparison conclusion will remain
valid.
4.2 CAPEX Analysis
DNV GL has assumed costs for each of the capital expenses based on DNV GL’s project experience and
costs provided by the equipment suppliers. DNV GL notes that the unit cost of PV modules and
transportation cost in Table 4-1 has been provided by the Customer.
Table 4-1 Customer cost inputs
PV modules
Unit cost
Transportation cost
450Wp, 535Wp, 545Wp, 585Wp, 600Wp
25 JPY/Wp
2 JPY/Wp
Based on the cost input from the Customer and DNV GL’s benchmark, the Capital costs for each PV module
scenarios are summarized in Table 4-2 below.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
16
Table 4-2 CAPEX costs summary [JPY]
450Wp
535Wp
545Wp
585Wp
600Wp
Trina Solar
Generic module
Trina Solar
Generic module
Trina Solar
375,435,000
375,570,000
375,723,000
375,570,000
375,360,000
22,400,000
21,000,000
16,800,000
21,000,000
16,800,000
125,125,000
125,125,000
125,125,000
125,125,000
125,125,000
37,500,000
37,500,000
37,500,000
37,500,000
37,500,000
HV Substation
150,000,000
150,000,000
150,000,000
150,000,000
150,000,000
Mounting Structure
211,423,539
187,935,228
187,861,500
175,637,993
171,657,490
DC conductor 1 (1500 V, 6 mm2 & MC4
connectors)
163,152,000
137,280,000
101,112,000
141,240,000
103,224,000
25,200,000
25,200,000
25,200,000
25,200,000
25,200,000
1,750,000
1,750,000
1,750,000
1,750,000
1,750,000
200,000
200,000
200,000
200,000
200,000
1,850,000
1,850,000
1,850,000
1,850,000
1,850,000
99,000,000
99,000,000
99,000,000
99,000,000
99,000,000
5,750,000
5,750,000
5,750,000
5,750,000
5,750,000
Optical Cables, Grounding Conductors
20,000,000
20,000,000
20,000,000
20,000,000
20,000,000
Module Transportation
30,034,800
30,045,600
30,057,840
30,045,600
30,028,800
Mounting Structure Transportation
30,034,800
30,045,600
30,057,840
30,045,600
30,028,800
700,000
700,000
700,000
700,000
700,000
5,005,000
5,005,000
5,005,000
5,005,000
5,005,000
52,000,000
52,000,000
52,000,000
52,000,000
52,000,000
Item
PV Modules
Combiner Box
Inverter
MV Transformer and Switchgear
DC conductor 2 (1500 V, 38 mm2)
LV AC conductor 1 (Inverter station)
600 V, 60 mm2
LV AC conductor 2 (AC combiner)
600 V, 100 mm2
MV AC conductor 3 (MV transformer)
6.6 kV, 60 mm2
SCADA System
CCTV
Combiner Box Transportation
Inverter Transportation
Trenching
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
17
450Wp
535Wp
545Wp
585Wp
600Wp
Trina Solar
Generic module
Trina Solar
Generic module
Trina Solar
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
PV System Construction Cost (including
piling & foundation)
772,500,000
650,000,000
633,333,333
650,000,000
633,333,333
PV System Installation (including
module, mounting structure, inverters,
DC/AC cable mounting, etc.)
1,013,076,923
900,000,000
741,923,077
893,076,923
738,461,538
6,500,000
6,500,000
6,500,000
6,500,000
6,500,000
50,000,000
50,000,000
50,000,000
50,000,000
50,000,000
250,000,000
250,000,000
250,000,000
250,000,000
250,000,000
Fencing Supply and Installation
75,000,000
75,000,000
75,000,000
75,000,000
75,000,000
Project management
39,495,105
36,000,000
33,448,951
35,899,301
33,398,601
Engineering Design Works
15,000,000
15,000,000
15,000,000
15,000,000
15,000,000
Commissioning: LV DC
10,042,886
7,511,400
5,534,689
7,424,730
5,486,031
Commissioning: Inverter
10,010,000
10,010,000
10,010,000
10,010,000
10,010,000
Commissioning: MV units
5,005,000
5,005,000
5,005,000
5,005,000
5,005,000
Commissioning: HV unit
5,005,000
5,005,000
5,005,000
5,005,000
5,005,000
Other soft cost: safety management &
operation, temporary site office, etc.
23,587,354
21,500,000
19,976,457
21,439,860
19,946,387
Site Studies (site survey, geotechnical
study, etc)
25,000,000
25,000,000
25,000,000
25,000,000
25,000,000
Total EPC cost
3,731,782,407
3,437,487,828
3,216,428,687
3,421,980,007
3,026,667,490
BOS cost1
3,356,347,407
3,061,917,828
2,840,705,687
3,046,410,007
2,822,964,980
Item
Site Levelling
Project Substation construction cost
(if any)
Road Construction
Drainage Works
1
BOS cost – Cost of total components excluding PV module cost
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
18
450Wp
535Wp
545Wp
585Wp
600Wp
Trina Solar
Generic module
Trina Solar
Generic module
Trina Solar
-
-8.8%
-15.4%
-9.2%
-15.9%
Preliminary Site Studies
8,000,000
8,000,000
8,000,000
8,000,000
8,000,000
Land Lease Payment (during
Construction)
3,980,725
3,280,125
2,768,762
3,259,940
2,758,669
Development Fee
80,000,000
80,000,000
80,000,000
80,000,000
80,000,000
Feasibility Studies/Survey
12,000,000
12,000,000
12,000,000
12,000,000
12,000,000
3,835,763,132
3,540,767,953
3,319,197,449
3,525,239,947
3,301,083,650
-
-7.7%
-13.5%
-8.1%
-13.9%
255.4
235.7
220.9
234.7
219.9
Item
BOS reduction [%]
Total CAPEX
Optimization CAPEX [%]
Relative CAPEX [JPY/Wp]
Commentary for the EPC cost assumption accounted for in Table 4-2
The following site-specific conditions were taken into consideration in the EPC cost assumption for the construction of 15 MWdc solar PV power plant
at the proposed site in Aomori:
1. The site is located in a remote heavy-snow mountainous district; hence, a longer construction period is expected due to a shutdown of
construction activity during snow season.
2. A certain level of efforts for land levelling and implementation of hydrological system was assumed to convert the mountainous land to a solar
PV power plant. In this context, a cost factor associated with earth works to develop a plateau of 100 m in elevation within the 13.7605 ha
area as to Customer’s plan was accounted for as the relevant costs of trenching, site levelling and a part of system construction, respectively.
3. In consideration of a load bearing capacity to snow loads, sufficient load bearing foundation and structural components were taken into
account.
As such, the EPC cost assumption in Table 4-2 is likely to have some uplifts in comparison with a cost benchmark of 150 – 200 [JPY/WP] by the
Customer. For the particular case with 545WP module, as an example, the total EPC cost was figured out as 220.9 [JPY/WP], increasing by 10.5 %
compared to the maximum of benchmark.
For further details about the cost-effectiveness comparison of Trina Solar’s modules (545 WP and 600 WP), please see Appendix A.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
19
4.3 OPEX Analysis
DNV GL has assumed costs for each of the operational expenses based on DNV GL’s project experience in
Japan. Additionally, DNV GL has assumed a reduction in the O&M fee between the different scenarios
proportional to the number of PV module mounting structures.
Based on the cost input from the Customer and DNV GL’s benchmark, the Operational costs for each PV
module scenarios are summarized in Table 4-3 below.
Table 4-3 OPEX costs summary [JPY]
450Wp
Item
535Wp
Trina Solar
Generic
module
O&M Cost
741,094,028
Asset Management Cost
Land Lease Payment
545Wp
585Wp
600Wp
Trina Solar
Generic
module
Trina Solar
716,992,356
714,962,723
706,490,837
704,099,459
600,000,000
600,000,000
600,000,000
600,000,000
600,000,000
104,964,000
104,964,000
104,964,000
104,964,000
104,964,000
81,331,250
81,331,250
81,331,250
81,331,250
81,331,250
150,174,000
150,228,000
150,289,200
150,228,000
150,144,000
1,677,563,278
1,653,515,606
1,651,547,173
1,643,014,087
1,640,538,709
Optimization OPEX [%]
-
-1.4
-1.6
-2.1
-2.2
Relative OPEX [JPY/Wp]
111.7
110.1
109.9
109.4
109.3
Maintenance Reserve Cost
Decommissioning Cost
Total OPEX
4.4 LCOE Analysis
Levelized Cost of Electricity (LCOE) is a common measure that is used to compare different projects and
technologies based on the combination of CAPEX, OPEX, energy generation and fuel cost over the entire
project lifetime.
DNV GL has applied the following LCOE formula which is widely accepted and had been used by
International Renewable Energy Agency (IRENA) for LCOE estimation of renewable energy project [4].
This LCOE analysis formula is based on a discounted cash flow (DCF) which calculates the cost of renewable
energy technologies by taking into consideration the time value of money.
The LCOE analysis formula is as below:
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
20
Source: Renewable Power Generation Costs in 2018, International Renewable Energy Agency (IRENA)
The weight average cost of capital (WACC) or referred to as ‘the discount rate’ is equivalent to the expected
return on capital invested. DNV GL has simplified the WACC calculation approach to be based on the debtto-equity ratio.
The WACC formula is as follows:
WACC = (Cost of Equity (%) x Share of Equity (%)) + (Cost of Debt (%) x Share of Debt (%))
The main assumptions considered for WACC calculation are presented in Table 4-4.
Table 4-4 WACC Assumption for this Project
Item
Aomori Project
Share of equity
5%
Share of debt
95%
Cost of equity
2.3%
Cost of debt
2.6%
WACC estimates (%)
2.6%
Based on all input costs, the calculated LCOE for each module type is presented in Table 4-5 below.
Table 4-5 LCOE Estimation
Item
LCOE Aomori Project
[JPY/MWh]
Optimization LCOE [%]
450Wp
Trina Solar
535Wp
Generic
module
545Wp
Trina Solar
585Wp
Generic
module
600Wp
Trina Solar
25,795
24,304
22,811
24,141
22,696
-
-5.8%
-11.6%
-6.4%
-12.0%
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
21
5 SUMMARY
Based on DNV GL’s cost analysis of five (5) different PV module, the optimization of CAPEX, OPEX and
LCOE for each scenario are summarized as below.
Table 5-1 Cost optimization summary
Item
450Wp
Trina solar
535Wp
Generic
module
545Wp
Trina solar
585Wp
Generic
module
600Wp
Trina solar
CAPEX
Base case
-7.7%
-13.5%
-8.1%
-13.9%
OPEX
Base case
-1.4
-1.6
-2.1
-2.2
LCOE
Base case
-5.8%
-11.6%
-6.4%
-12.0%
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
22
6 REFERENCES
[1] “Satellite data characteristics,” [Online]. Available:
http://solargis.info/doc/_docs/SolarGIS_data_specification.pdf.
[2] “About The Japan Meteorological Agency,” [Online]. Available:
https://www.jma.go.jp/jma/menu/menuabout.html.
[3] “DNV GL White Paper on Photovoltaic Module Degradation,” DNV GL, February 2015.
[4] Renewable Power Generation Costs in 2018, Abu Dhabi: International Renewable Energy Agency
(IRENA), 2019.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
23
COST-EFFECTIVENESS COMPARISON BETWEEN MODULE TYPES
As displayed in the table below, the major contributors of cost-effectiveness for Trina Solar’s modules (545WP and 600WP modules) are related to the cost impact
of the optimization of DC configuration (e.g. cost-efficiency in BOS items – DC combiner boxes and conductors, as well as in DC commissioning works) and the
cost-efficient construction promoting a shorter construction period than other modules and thus leading to lowering of labour costs (e.g. system installation,
project management and relevant soft cost) and the land lease payment during construction.
Table A-1 Comparison of cost-effectiveness between module types
Item
PV Modules
Combiner Box
Inverter
MV Transformer and Switchgear
450WP
535WP
Trina solar
Reduction
Generic module
375,435,000
0%
22,400,000
0%
125,125,000
0%
545WP
Reduction
Trina solar
375,570,000
0.04%
21,000,000
-6.25%
125,125,000
0%
585WP
Reduction
Generic module
375,723,000
0.08%
16,800,000
-25.00%
125,125,000
0%
600WP
Reduction
Trina solar
Reduction
375,570,000
0.04%
375,360,000
-0.02%
21,000,000
-6.25%
16,800,000
-25.00%
125,125,000
0%
125,125,000
0%
37,500,000
0%
37,500,000
0%
37,500,000
0%
37,500,000
0%
37,500,000
0%
HV Substation
150,000,000
0%
150,000,000
0%
150,000,000
0%
150,000,000
0%
150,000,000
0%
Mounting Structure
211,423,539
0%
187,935,228
-11.11%
187,861,500
-11.14%
175,637,993
-16.93%
171,657,490
-18.81%
DC conductor 1 (1500 V, 6 mm2 &
MC4 connectors)
163,152,000
0%
137,280,000
-15.86%
101,112,000
-38.03%
141,240,000
-13.43%
103,224,000
-36.73%
DC conductor 2 (1500 V, 38 mm2)
25,200,000
0%
25,200,000
0%
25,200,000
0%
25,200,000
0%
25,200,000
0%
1,750,000
0%
1,750,000
0%
1,750,000
0%
1,750,000
0%
1,750,000
0%
200,000
0%
200,000
0%
200,000
0%
200,000
0%
200,000
0%
1,850,000
0%
1,850,000
0%
1,850,000
0%
1,850,000
0%
1,850,000
0%
99,000,000
0%
99,000,000
0%
99,000,000
0%
99,000,000
0%
99,000,000
0%
5,750,000
0%
5,750,000
0%
5,750,000
0%
5,750,000
0%
5,750,000
0%
Optical Cables, Grounding Conductors
20,000,000
0%
20,000,000
0%
20,000,000
0%
20,000,000
0%
20,000,000
0%
Module Transportation
30,034,800
0%
30,045,600
0.04%
30,057,840
0.08%
30,045,600
0.04%
30,028,800
-0.02%
Mounting Structure Transportation
30,034,800
0%
30,045,600
0.04%
30,057,840
0.08%
30,045,600
0.04%
30,028,800
-0.02%
700,000
0%
700,000
0%
700,000
0%
700,000
0%
700,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
52,000,000
0%
52,000,000
0%
52,000,000
0%
52,000,000
0%
52,000,000
0%
LV AC conductor 1 (Inverter station)
600 V, 60 mm2
LV AC conductor 2 (AC combiner)
600 V, 100 mm2
MV AC conductor 3 (MV transformer)
6.6 kV, 60 mm2
SCADA System
CCTV
Combiner Box Transportation
Inverter Transportation
Trenching
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page A-1
Item
Site Levelling
PV System Construction Cost
(including piling & foundation)
PV System Installation (including
module, mounting structure, inverters,
DC/AC cable mounting, etc.)
Project Substation construction cost
Road Construction
Drainage Works
450WP
535WP
545WP
585WP
600WP
Trina solar
Reduction
Generic module
Reduction
Trina solar
Reduction
Generic module
Reduction
Trina solar
Reduction
75,000,000
0%
75,000,000
0%
75,000,000
0%
75,000,000
0%
75,000,000
0%
772,500,000
0%
650,000,000
-15.86%
633,333,333
-18.02%
650,000,000
-15.86%
633,333,333
-18.02%
1,013,076,923
0%
900,000,000
-11.16%
741,923,077
-26.77%
893,076,923
-11.85%
738,461,538
-27.11%
6,500,000
0%
6,500,000
0%
6,500,000
0%
6,500,000
0%
6,500,000
0%
50,000,000
0%
50,000,000
0%
50,000,000
0%
50,000,000
0%
50,000,000
0%
250,000,000
0%
250,000,000
0%
250,000,000
0%
250,000,000
0%
250,000,000
0%
Fencing Supply and Installation
75,000,000
0%
75,000,000
0%
75,000,000
0%
75,000,000
0%
75,000,000
0%
Project management
39,495,105
0%
36,000,000
-8.85%
33,448,951
-15.31%
35,899,301
-9.10%
33,398,601
-15.44%
Engineering Design Works
15,000,000
0%
15,000,000
0%
15,000,000
0%
15,000,000
0%
15,000,000
0%
Commissioning: LV DC
10,042,886
0%
7,511,400
-25.21%
5,534,689
-44.89%
7,424,730
-26.07%
5,486,031
-45.37%
Commissioning: Inverter
10,010,000
0%
10,010,000
0%
10,010,000
0%
10,010,000
0%
10,010,000
0%
Commissioning: MV units
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
Commissioning: HV unit
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
5,005,000
0%
23,587,354
0%
21,500,000
-8.85%
19,976,457
-15.31%
21,439,860
-9.10%
19,946,387
-15.44%
25,000,000
0%
25,000,000
0%
25,000,000
0%
25,000,000
0.00%
25,000,000
0%
Total EPC cost
3,731,782,407
0%
3,437,487,828
-7.89%
3,216,428,687
-13.81%
3,421,980,007
-8.30%
3,198,324,980
-14.29%
BOS cost
3,356,347,407
0%
3,061,917,828
-8.77%
2,840,705,687
-15.36%
3,046,410,007
-9.23%
2,822,964,980
-15.89%
Preliminary Site Studies
8,000,000
0%
8,000,000
0%
8,000,000
0%
8,000,000
0%
8,000,000
0%
Land Lease Payment (during
Construction)
3,980,725
0%
3,280,125
-17.60%
2,768,762
-30.45%
3,259,940
-18.11%
2,758,669
-30.70%
80,000,000
0%
80,000,000
0%
80,000,000
0%
80,000,000
0%
80,000,000
0%
12,000,000
0%
12,000,000
0%
12,000,000
0%
12,000,000
0%
12,000,000
0%
3,835,763,132
0%
3,540,767,953
-7.69%
3,319,197,449
-13.47%
3,525,239,947
-8.10%
3,301,083,650
-13.94%
Other soft cost: safety management &
operation, temporary site office, etc.
Site Studies (site survey, geotechnical
study, etc)
Development Fee
Feasibility Studies/Survey
Total CAPEX
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page A-2
PV MODULE DATASHEET
B.1. 450WP Trina Solar module
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-1
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-2
B.2. 545WP Trina Solar module
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-3
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-4
B.3. 600WP Trina Solar module
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-5
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page B-6
INVERTER DATASHEET
C.1. SMA Sunny Highpower PEAK3 - 143kW
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page C-1
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page C-2
RACKING SYSTEM (PROPOSED RACKING DESIGN)
D.1. 4 x 3 Landscape, 450 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-1
D.2. 4 x 6 Landscape, 450 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-2
D.3. 4 x 3 Landscape, 535 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-3
D.4. 4 x 6 Landscape, 535 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-4
D.5. 4 x 3 Landscape, 545 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-5
D.6. 4 x 6 Landscape, 545 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-6
D.7. 4 x 6 Landscape, 585 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-7
D.8. 4 x 4 Landscape, 600 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-8
D.9. 4 x 6 Landscape, 600 WP
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-9
About DNV GL
Driven by our purpose of safeguarding life, property and the environment, DNV GL enables
organizations to advance the safety and sustainability of their business. We provide classification and
technical assurance along with software and independent expert advisory services to the maritime,
oil and gas, and energy industries. We also provide certification services to customers across a wide
range of industries. Operating in more than 100 countries, our 16,000 professionals are dedicated to
helping our customers make the world safer, smarter and greener.
DNV GL – Report No. 10265641, Rev. D – www.dnvgl.com
Page D-10