DETAILED PROJECT REPORT PREPARATION FOR SOLAR ENERGY CORPORATION OF INDIA & ORDNANCE FACTORIES
Ordnance Factory board is a prestigious organization of India. They have 41 factories, 9 learning institutes and many other marketing and safety centers. They are also comes under the category of large power consumers. Showing their commitment not only towards country but also towards the environment, they decided to consume the solar power and reduce their dependance on carbon intensive grid power. therefore, they approached SECI to guide them. After having discussion with SECI, Ordnance factory board took decision to develop four 10 MW solar plants at four factories. Therefore, SECI appointed FirstGreen to prepare Detailed Project Reports covering all the technical, policy and financial related issues.
The brief scope of report was site assessment for solar radiation resource and meteorology, solar PV technology assessment and evaluation, annual yield estimation, tentative SPV plant layout, overall System description, power evacuation arrangements and single line diagram (SLD), Clean Development Mechanism (CDM), Clearances and permits, Financial analysis, Bill of Quantity (BOQ) and Risk Assessment.
FirstGreen expert visited the project location and survey the site conditions like soil texture, land topography, nearby substation data, location connectivity etc. State electricity scenario, solar potential & policy, grid constraints and other important parameters were thoroughly discussed. Reports/ data of CEA, World Bank, MNRE and other state bodies were referred.
Technical experts of FGC team conducted the radiation profile analysis for the proposed location. Data from different potential sources like Meteonorm, NASA_SSE and MNRE were catered. Variability of the data for individual source was examined and most suited data was considered for the yield estimation. Generally, financial institute are keen to check the certainty of the energy yield. Hence, technical experts have also conducted a uncertainty analysis. Probability of Exceedence analysis was scrutinized at P50, P75, P90, P95 and P99.
Financial analysis is other decisive chapter. FGC financial expert done the financial modeling and calculated the IRR and DSCR. Capital cost breakup, debt equity ratio, projected CUF, degradation, interest rate, loan period etc were the key parameters considered while doing financial modeling
Highlights of the project:
- Project location: Ordnance Factory Itarsi and Khadki
- Proposed capacity: 10 MW (AC) each
- Power shall be consumed within the campus and if available, surplus power shall be transmitted to grid.