Kiss Project - Solar Panel (Monthly Rest)180814

8/9/2019 Kiss Project - Solar Panel (Monthly Rest)180814

1/97

CAPITAL EXPENDITURE - COMMISIONING OF 1 MWp GRID CONNECTED PV SYSTEM

To Design, supply , deliver , install, testing and commisioning of 1MWp gridconnected PV system and all ancillary works on the land lot ,Kuala Pilah

District, egeri !em"ilan

Brand/Mod! "#an$%$&/Lo$ Un%$ Ra$ 'RM( To$a! Pr%) 'RM(

1 Solar PV Module HANWHA 250Wp HSL-60 4000 820 3,280,000

2 Solar PV stri! i"erter-1#$W S%P 1#000%L-10 50 21,650 1,082,500

3 PV Moitori! S&ste' SMA 1 Lot 8,850 8,850

4 Me()ai(al *or$s Lo(al 1 Lot 1,8#8,500 1,8#8,500

5 +le(tri(al *or$s or . parts Lo(al 1 Lot 1,106,000 1,106,000

6 S&ste' esi! ad .osulta(& *or$s - 1 Lot #0,000 #0,000

# S&ste' testi! ad (o''isioi! report - 1 Lot 50,000 50,000

8 2 &ears operatio ad 'aitea(e pro!ra''e - 1 Lot /(lusi"e -

Lo!isti( all t)e (o'poets to t)e site - Lu'p Su' /(lusi"e -+teded Warrat& or i"erter 20 &ears 2#4,250

TOTAL BIPV SYSTEM PRICE WIT* TAX AND DUTY ' 1 UNITS ( +,+.,1....


2/97

0opra% 0ISS Br2ad

Mon$2!& Opra$%on Co$ - So!ar 1MWp

I$3 Bad Ra$ Un%$ R4 Mon$2!& Yar 1 Yar 5 Yar 6 Yar 7 Yar

To$a!

Sa!ar&

.)ar!e'a 3,000 1 3,000 18,000 36,000 3#,440 38,38 40,45

A((out i(er 1,800 1 1,800 6,000 12,000 12,480 12,# 13,48

eeral Wor$er 1,300 1 1,300 5,400 10,800 11,232 11,681 12,14

2,400 58,800 61,152 63,58 66,142

i(e etal 'ot)l& 500 6,000 6,000 6,000 6,000 6,000

%elep)oe 7ill 100 1,200 1,200 1,200 1,248 1,28 1,350

+le(tri(it& 100 1,200 1,200 1,200 1,248 1,28 1,350

Water 100 1,200 1,200 1,200 1,248 1,28 1,350

%ra"elli! - Petrol, par$i! ad toll 300 3,600 3,600 3,600 3,#44 3,84 4,050

t)er +peses 200 2,400 2,400 2,400 2,46 2,56 2,#00

%otal a(ilit& (ost ,600 ,600 ,600 ,84 10,383 10,#

To$a! Mon$2!& Opra$%on Co$ +,7.. 7,... +7,7.. ++,168 +9,9:1 :5,971

55,612

1,502

1,502

9+:

1,502


3/97

58,50#

3,005


4/97

Opra$%ona! Co$

Yar 8 Yar + Yar : Yar 9 Yar 1. Yar 11 Yar 15 Yar 16 Yar 17 Yar 1 Yar 18 Yar 1+ Yar 1: Yar 1

42,115 43,800 45,551 4#,3#4 4,268 51,23 53,28 55,420 5#,63# 5,43 62,340 64,834 6#,42# #0,124

14,038 14,600 15,184 15,#1 16,423 1#,080 1#,#63 18,4#3 1,212 1,81 20,#80 21,611 22,4#6 23,3#512,634 13,140 13,665 14,212 14,#81 15,3#2 15,8# 16,626 1#,21 1#,83 18,#02 1,450 20,228 21,03#

68,#88 #1,53 #4,401 ##,3## 80,4#2 83,61 8#,038 0,520 4,141 #,06 101,823 105,85 110,131 114,53#

6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000 6,000

1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#

1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#

1,404 1,460 1,518 1,5# 1,642 1,#08 1,##6 1,84# 1,21 1,8 2,0#8 2,161 2,248 2,33#

4,211 4,380 4,555 4,#3# 4,2# 5,124 5,32 5,542 5,#64 5,4 6,234 6,483 6,#43 #,012

2,808 2,20 3,03# 3,158 3,285 3,416 3,553 3,65 3,842 3,6 4,156 4,322 4,45 4,6#5

11,231 11,680 12,14# 12,633 13,138 13,664 14,210 14,## 15,3#0 15,85 16,624 1#,28 1#,81 18,#00

:8,.1: :9,519 95,7: 98,.1. 99,81. 1.6,6 1.+,579 111,599 11,11 119,:91 157,77+ 159,1: 167,115 169,56

6#5,38#

13,#83

13,#83

9+:

13,#83


5/97

41,350

2#,56#


6/97

Yar 5. Yar 51

#2,2 #5,84#

24,310 25,28221,8# 22,#54

11,118 123,883

6,000 6,000

2,431 2,528

2,431 2,528

2,431 2,528

#,23 #,585

4,862 5,056

1,448 20,226

177,88 1.,1.:


7/97


8/97

C

5.17

PRE-OPERATING COST 2016

Yar . Yar 1

In

A"era!e Sales utput - 1MWp 0 1,342,548

eud ro' %eder 7od 0,000

eud ro' Peror'a(e 7od 200,000

Proposed Loa ro' S;M #,800,000

. 'A( +,:9.,... 1,75,7:

O#$F!o;

+P. (ost #,525,000 0

PSS (ost to %N7 20,000 0

%eder


9/97

Loa epa&'et to S;M - Pri(ipal Portio 0 162,50

To$a! E>pn 'B( ... 9,878,. 855,761

Ba!an) )/< 'A(- 'B( ... -1,+8,. 95.,11+

M t)ousad -1#5# 20

A))#3#!a$%? Ca2

M t)ousad -1#5# -836

/ 18?

@derl&i! Assu'ptios

1 Loa *ill


10/97

0opra% 0ISS Br2ad

2 F!o; For T2 Yr Endd 5.18 - 5.68


11/97

340,00 361,26 384,24 40#,4 433,110 45,824

1,.81,.+1 1,.8+,7. 1,.+6,995 1,.:.,:76 1,.:+,98: 1,.9,6++

58:,.5 57:,595 55:,5:. 5.:,..6 1:+,76 188,81:

268 248 228 208 18# 16#

-8:,6:1 -65.,.:9 -91,:1. 118,196 6.6,87+ 7+.,587

-568 -320 -2 116 304 4#0

18?

Aual .as)lo*

6 7 8 9 10 11 12 1) 14 15 16 17 18 19 20 21 22


12/97

2023 2024 2025 2026 202# 2028

Yar : Yar 9 Yar 1. Yar 11 Yar 15 Yar 16

1,248,5#0 1,221,#1 1,208,23 1,14,868 1,181,442 1,181,442

1,57:,+. 1,551,+19 1,5.:,596 1,197,:8: 1,1:1,775 1,1:1,775

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

80,472 8),691 87,0)8 90,520 94,141 97,906

1),1)8 1),664 14,210 14,779 15,)70 15,985

8,211 8,540 8,881 9,2)7 9,606 9,990

985)7 102478 106578 110841 115274 119885

75,250 75,250 75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625 )7625 )7625

301,665 2#1,555 23,588 205,64 16,61# 131,362


13/97

488,185 518,25 550,262 584,201 620,233 658,488

1,1.6,.:6 1,111,.9: 1,119,766 1,15:,1.1 1,16+,118 1,178,795

17,7:+ 11.,851 ::,:8. 88,+8+ 77,658 67,9.

145 111 8 6# 44 35

81,+1 +58,6+5 :1,565 ::1,999 958,65 981,5+

616 #26 815 882 26 61

18?

1 2 ) 4 5 6 7 8 9 10 11

*)000

*2000

*1000

0

1000

2000

)000

4000

5000

6000


14/97

202 2030 2031 2032 2033 2034 2035 2036

Yar17 Yar 1 Yar 18 Yar 1+ Yar 1: Yar 19 Yar 5. Yar 51

1,168,01# 1,154,51 1,141,166 1,12#,#40 1,114,315 1,100,88 1,08#,464 1,0#5,038

1,18:,.1+ 1,17,91 1,171,188 1,15+,+7. 1,117,61 1,1..,::9 1,.:+,787 1,.+,.6:

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

0 0 0 0 0 0 0 0

101,82) 105,895 110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),992

16,624 17,289 17,981 18,700 19,448 20,226 21,0)5 21,876

10,)90 10,806 11,2)8 11,687 12,155 12,641 1),147 1),67)

124681 129668 1)4855 140249 145859 15169) 157761 164071

75,250 75,250 75,250 75,250 75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625 )7625 )7625 )7625 )7625

0,#48 4#,62 6,820 0 0 0 0 0


15/97

6,102 #42,221 388,105 0 0 0 0 0

1,18,575 1,188,6:6 +:5,..7 69:,.7: 7.9,7 751,61: 766,8 778,7:+

11,++ -11,+95 69,185 +59,895 +.7,:8. 8+9,+1 86,:.9 85:,1

12 -12 35 #30 #05 680 654 62

9+6,.. 981,5: 1,65.,719 5,..,115 5,+7,9+5 6,767,76 7,.::,65 7,+18,9.6

#3 61 1320 2050 2#55 3435 4088 4#1#

.u'ulati"e .as)lo*

12 1) 14 15 16 17 18 19 20 21 22


16/97

5.17

In

A"era!e Sales utput - 1MWp

eud ro' %eder 7od

Proposed Loa ro' S;M

. 'A(

O#$F!o;

+P. (ost

PSS (ost to %N7

%eder pn 'B( ...

Ba!an) )/< 'A(- 'B( ...

M t)ousad

A))#3#!a$%? Ca2

M t)ousad

/ 6?

@derl&i! Assu'ptios


17/97

1 Loa *ill


18/97

0opra% 0ISS Br2ad

Ca2 F!o; For T2 Yr Endd 5.18 - 5.6

Yar W%$2 F%nan)%n=

PRE-OPERATING COST 2016 201# 2018

Yar . Yar 1 Yar 5 Yar 6

0 1,342,548 1,32,123 1,315,6#

0,000

8,525,110

:,81,11. 1,675,7: 1,659,156 1,61,89+

8,525,110 0 0 0

20,000 0 0 0

100,000 0 0 0

200,000

130,000 0 0 0

4,00 0 0 0

110,000 0 0

1,400,000 0 0 0

58,800 61,152 6),598 66,1429,600 9,984 10,)8) 10,799

6,000 6,000 6,000 6,000

72000 74880 77875 80990

85,251 85,251 85,251 85,251

)7625 )7625

0 24,81 4#5,11 441,811

0 331,532 568,341 568,341

1.,+88,881 :86,89. 1,657,9: 1,598,99

-5,11,1 7+:,:: 7,16: 1:,+6:

-2152 4# 4 1

-5,11,1 -1,8+5,896 -1,88:, -1,879,:1+

-2152 -16#3 -166 -1650


19/97

1 2 ) 4 5 6 7 8 9 10 11 12 1) 14 15 16 17 18 1

*2000

*1500

*1000

*500

0

500

1000

1500


20/97


21/97

20 21 22


22/97

2023 2024 2025 2026

Yar : Yar 9 Yar 1. Yar 11

1,248,5#0 1,221,#1 1,208,23 1,14,868

1,57:,+. 1,551,+19 1,5.:,596 1,197,:8:

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

1#1,8#5

0 0 0 0

80,472 8),691 87,0)8 90,5201),1)8 1),664 14,210 14,779

6,000 6,000 6,000 6,000

985)7 102478 106578 110841

85,251 85,251 85,251 85,251

)7625 )7625 )7625 )7625

2#1,30 23#,208 203,108 16,00#

568,341 568,341 568,341 568,341

1,18.,8+6 1,167,5: 1,5:.,.58 1,.:5,687

:+,:9+ :+,781 -+1,+66 115,.7

88 8# -#2 113

-1,7:6,78 -1,698,..7 -1,78+,+6+ -1,6,566

-1483 -136 -1468 -1355


23/97


24/97

202# 2028 202 2030

Yar 15 Yar 16 Yar17 Yar 1

1,181,442 1,181,442 1,168,01# 1,154,51

1,1:1,775 1,1:1,775 1,18:,.1+ 1,17,91

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

94,141 97,906 101,82) 105,89515,)70 15,985 16,624 17,289

6,000 6,000 6,000 6,000

115274 119885 124681 129668

85,251 85,251 85,251 85,251

)7625 )7625 )7625 )7625

134,0# 100,80# 66,#06 32,606

568,341 568,341 568,341 568,341

1,.8,9.9 1,.61,:.. 1,..+,.. 9:5,8+

157,66 179,875 18.,98+ 1+1,918

125 150 161 1#2

-1,56.,899 -1,.:1,.+ -95.,.9. -+7:,1+7

-1231 -1081 -20 -#48


25/97

1 2 ) 4 5 6 7 8 9 10 11 12 1) 14 15 16 17 18 1

*)000

*2000

*1000

0

1000

2000

)000

4000

5000

6000


26/97

2031 2032 2033 2034 2035 2036

Yar 18 Yar 1+ Yar 1: Yar 19 Yar 5. Yar 51

1,141,166 1,12#,#40 1,114,315 1,100,88 1,08#,464 1,0#5,038

1,171,188 1,15+,+7. 1,117,61 1,1..,::9 1,.:+,787 1,.+,.6:

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),99217,981 18,700 19,448 20,226 21,0)5 21,876

6,000 6,000 6,000 6,000 6,000 6,000

1)4855 140249 145859 15169) 157761 164071

85,251 85,251 85,251 85,251 85,251 85,251

)7625 )7625 )7625 )7625 )7625 )7625

3,511 0 0 0 0 0

236,80 0 0 0 0 0

865,186 7.5,681 716,6.1 757,8+: 768,1. 77:,:1

.9,..6 +5,6+9 +.1,.17 8+8,511 8.,97 858,556

50 #25 #01 6#6 651 626

-569,1+. 7:8,5.: 1,1:+,555 1,:86,767 5,17,6:: 6,17.,811

-23 486 118# 1863 2514 3141


27/97

20 21 22


28/97

SPV Co 'XY@ Sdn B2d(

Propn Err.9 Err.9 Err.9 Err.9

Pro


29/97

Err.9 Err.9 Err.9 Err.9

Pro


30/97

Yar

1,315,6#

6,81#

8,:1+

1,6.:,::.

11,680

#,300

8#,5

1,350

42,323

#5,000 +rr50

43,16

Err.9

Err.9

+rr50

+rr50


31/97

Err.9

Err.9

Err.9

Err.9


32/97

8)6,4))+ 4)%

568,)81+ 29%

)20,089+ 17%

91,810+ 5%116,19)+ 6%

Net Cash Flow of the project from year 2015-2036

ATTRIBUTABLE PROFIT TO RELEVANT


33/97

PARTIES


34/97

1 2 ) 4 5

0

2

4

6

8

10

12

Profit Sharing :

KISS

PROFIT BEFORE TAX FROM 2015-2019


35/97

t er art es


36/97

Assumption

nit

I-- #&ost .nance &ost ta/(

a&acity

Project Cost

PSS (ost to %N7

ener 3on -M

eicles -M

Initial -M

:an -M

onstr"ction commencement ;ear

&eration commencement ;ear

P!"man&oices -M

!M -M

otal -M=yearly

ins"rance #0$5% of &ro'ect cost( -M

escalation &$a$ %

ro'ect life year

Financin#

:oan -M

Interest on ?orro


37/97

3ase ase

ase 1 ase 2 ase )

18% 6%

1 1 1

7,525,000 8,525,110 7,750,100

20,000 20,000 20,000

100,000 100,000 100,000

110,000 110,000 110,000

49,900 49,900 49,900

1,400,000 1,400,000 1,400,000

7,755,001

58,800 58,800 58,800

9,600 9,600 9,600

6,000 6,000 6,000

72000 72000 72000

75,250 85,251 77,501

221,650 2)1,651 22),901

)7625 42626 )8751

4 4 4

21 21 21

7,800,000 8,525,110 10,000,000

4 4 6

year 1 year 1 year 1

0 0 0

15 15 1515 15 15

120000 120000 120000

yment of &rinci&le


38/97

Interest 6% Montly

otal loan 7,800,000 BBB

Case 1 % 2 ;ear y1

2014 2015 2016

re*&s 0 1 2

:oan ra


39/97

3alance ra


40/97

cto?er #interest( #50,959( #48,411( #45,014(

3alance raem?er #interest( #49,)15( #46,575( #4),288(

3alance ra


41/97

y2 y) y4 y5 y6 y7 y8

2017 2018 2019 2020 2021 2022 202)

) 4 5 6 7 8 9

BBB BBB BBB BBB BBB BBB BBB

#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(

#4)5,4)2( #404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(

0 0 0 0 0 0 0


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)8,202( #)5,552( #)2,902( #)0,25)( #27,60)( #24,95)( #22,)0)(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)4,)06( #)1,912( #29,519( #27,125( #24,7)2( #22,))9( #19,945(BBB BBB BBB BBB BBB BBB BBB

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)7,761( #)5,111( #)2,461( #29,811( #27,161( #24,511( #21,861(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)6,)29( #)),764( #)1,200( #28,6)6( #26,071( #2),507( #20,942(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)7,)19( #)4,669( #)2,019( #29,)69( #26,719( #24,070( #21,420(BBB BBB BBB BBB BBB BBB BBB

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)5,901( #)),))7( #)0,77)( #28,208( #25,644( #2),079( #20,515(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)6,877( #)4,227( #)1,578( #28,928( #26,278( #2),628( #20,978(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)6,656( #)4,007( #)1,)57( #28,707( #26,057( #2),407( #20,757(

BBB BBB BBB BBB BBB BBB BBB#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)5,260( #)2,696( #)0,1)2( #27,567( #25,00)( #22,4)8( #19,874(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)6,215( #)),565( #)0,915( #28,265( #25,615( #22,965( #20,)16(


#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)4,8))( #)2,268( #29,704( #27,140( #24,575( #22,011( #19,447(

BBB BBB BBB BBB BBB BBB BBB#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#)5,77)( #)),12)( #)0,47)( #27,824( #25,174( #22,524( #19,874(


42/97


) 4 5 6 7 8 9


#666,667( #666,667( #666,667( #666,667( #666,667( #666,667( #666,667(

#501,580( #461,580( #421,580( #)81,580( #)41,580( #)01,580( #261,580(

0 0 0 0 0 0 0


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#44,164( #40,767( #)7,)70( #)),97)( #)0,575( #27,178( #2),781(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)9,6)5( #)6,566( #)),498( #)0,429( #27,)61( #24,292( #21,224(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(#4),598( #40,201( #)6,804( #)),406( #)0,009( #26,612( #2),215(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#41,918( #)8,6)0( #)5,)42( #)2,055( #28,767( #25,479( #22,192(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#4),0)2( #)9,6)5( #)6,2)7( #)2,840( #29,44)( #26,046( #22,648(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#41,)70( #)8,082( #)4,795( #)1,507( #28,219( #24,9)2( #21,644(BBB BBB BBB BBB BBB BBB BBB

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#42,466( #)9,068( #)5,671( #)2,274( #28,877( #25,479( #22,082(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#42,18)( #)8,785( #)5,)88( #)1,991( #28,594( #25,196( #21,799(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#40,548( #)7,260( #)),97)( #)0,685( #27,)97( #24,110( #20,822(BBB BBB BBB BBB BBB BBB BBB

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(


43/97

#41,616( #)8,219( #)4,822( #)1,425( #28,027( #24,6)0( #21,2))(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#40,000( #)6,712( #)),425( #)0,1)7( #26,849( #2),562( #20,274(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#41,050( #)7,65)( #)4,256( #)0,858( #27,461( #24,064( #20,667(



44/97

y9 y10 y11 y12 y1) y14 y15

2024 2025 2026 2027 2028 2029 20)0

10 11 12 1) 14 15 16

BBB BBB BBB BBB BBB BBB 7)6,667

#520,000( #520,000( #520,000( #520,000( #520,000( BBB BBB

#217,0)2( #185,8)2( #154,6)2( #12),4)2( #92,2)2( #61,0)2( #29,8)2(

0 0 0 0 0 0 0

BBB BBB BBB BBB BBB BBB 7)6,667

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#19,65)( #17,00)( #14,)5)( #11,704( #9,054( #6,404( #),754(

BBB BBB BBB BBB BBB BBB 69),)))

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#17,552( #15,158( #12,765( #10,)72( #7,978( #5,585( #),191(BBB BBB BBB BBB BBB BBB 650,000

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#19,212( #16,562( #1),912( #11,262( #8,612( #5,962( #),)12(

BBB BBB BBB BBB BBB BBB 606,667

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#18,)78( #15,814( #1),249( #10,685( #8,121( #5,556( #2,992(

BBB BBB BBB BBB BBB BBB 56),)))

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#18,770( #16,120( #1),470( #10,820( #8,170( #5,521( #2,871(BBB BBB BBB BBB BBB BBB 520,000

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#17,951( #15,)86( #12,822( #10,258( #7,69)( #5,129( #2,564(

BBB BBB BBB BBB BBB 996,667 476,667

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#18,)28( #15,678( #1),028( #10,)79( #7,729( #5,079( #2,429(

BBB BBB BBB BBB BBB 95),))) 4)),)))

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#18,107( #15,458( #12,808( #10,158( #7,508( #4,858( #2,208(

BBB BBB BBB BBB BBB 910,000 )90,000#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#17,)10( #14,745( #12,181( #9,616( #7,052( #4,488( #1,92)(

BBB BBB BBB BBB BBB 866,667 )46,667

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#17,666( #15,016( #12,)66( #9,716( #7,066( #4,416( #1,767(

BBB BBB BBB BBB BBB 82),))) )0),)))

#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#16,882( #14,)18( #11,75)( #9,189( #6,625( #4,060( #1,496(

BBB BBB BBB BBB BBB 780,000 260,000#4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))( #4),)))(

#17,224( #14,574( #11,924( #9,275( #6,625( #),975( #1,)25(


45/97

BBB BBB BBB BBB BBB 7)6,667 216,667

10 11 12 1) 14 15 16

BBB BBB BBB BBB BBB 666,667 0

#666,667( #666,667( #666,667( #666,667( #666,667( BBB 0

#221,580( #181,580( #141,580( #101,580( #61,580( #21,580( 0

0 0 0 0 0 0 0

BBB BBB BBB BBB BBB 666,667

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#20,)84( #16,986( #1),589( #10,192( #6,795( #),)97(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#18,155( #15,087( #12,018( #8,950( #5,881( #2,81)(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(#19,817( #16,420( #1),02)( #9,626( #6,228( #2,8)1(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#18,904( #15,616( #12,)29( #9,041( #5,75)( #2,466(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#19,251( #15,854( #12,457( #9,059( #5,662( #2,265(

BBB BBB BBB BBB BBB )88,889

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#18,)56( #15,068( #11,781( #8,49)( #5,205( #1,918(BBB BBB BBB BBB BBB ))),)))

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#18,685( #15,288( #11,890( #8,49)( #5,096( #1,699(

BBB BBB BBB BBB 944,444 277,778

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#18,402( #15,005( #11,607( #8,210( #4,81)( #1,416(

BBB BBB BBB BBB 888,889 222,222

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#17,5)4( #14,247( #10,959( #7,671( #4,)84( #1,096(BBB BBB BBB BBB 8)),))) 166,667

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(


46/97

#17,8)6( #14,4)8( #11,041( #7,644( #4,247( #849(

BBB BBB BBB BBB 777,778 111,111

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#16,986( #1),699( #10,411( #7,12)( #),8)6( #548(

BBB BBB BBB BBB 722,222 55,556

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#17,269( #1),872( #10,475( #7,078( #),680( #28)(

BBB BBB BBB BBB 666,667 #0(


47/97

y16

20)1 20)2 20)) 20)4 20)5

17 18 19 20 21

216,667 0 0 0 0

BBB 0 0 0 0

#),21)( 0 0 0 0

0 0 0 0 0

216,667

#4),)))(

#1,104(

17),)))

#4),)))(

#798(1)0,000

#4),)))(

#662(

86,667

#4),)))(

#427(

4),)))

#4),)))(

#221(0

0

#0(


48/97

17 18 19 20 21

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0


49/97


50/97

Interest 6% Montly


Case 2 ;ear y1 y2

2014 2015 2016 2017

re*&s 0 1 2 )

:oan ra


51/97

3alance ra


52/97

"g"st #Interest( #50,959( #48,977( #45,580( #42,18)(

3alance ra


53/97

y) y4 y5 y6 y7 y8 y9

2018 2019 2020 2021 2022 202) 2024

4 5 6 7 8 9 10


#568,)41( #568,)41( #568,)41( #568,)41( #568,)41( #568,)41( #568,)41(#441,811( #407,710( #)7),610( #))9,510( #)05,409( #271,)09( #2)7,208(

0 0 0 0 0 0 0


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)8,857( #)5,961( #)),065( #)0,169( #27,27)( #24,)76( #21,480(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)4,879( #)2,26)( #29,647( #27,0)1( #24,415( #21,799( #19,18)(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)8,)75( #)5,478( #)2,582( #29,686( #26,790( #2),894( #20,997(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)6,90)( #)4,100( #)1,298( #28,495( #25,692( #22,889( #20,087(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)7,892( #)4,996( #)2,100( #29,20)( #26,)07( #2),411( #20,515(

BBB BBB BBB BBB BBB BBB BBB#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)6,4)6( #)),6))( #)0,8)1( #28,028( #25,225( #22,422( #19,619(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)7,409( #)4,51)( #)1,617( #28,721( #25,824( #22,928( #20,0)2(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)7,168( #)4,272( #)1,)76( #28,479( #25,58)( #22,687( #19,791(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(#)5,7)5( #)2,9))( #)0,1)0( #27,)27( #24,524( #21,722( #18,919(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)6,685( #)),789( #)0,89)( #27,997( #25,100( #22,204( #19,)08(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)5,268( #)2,465( #29,66)( #26,860( #24,057( #21,254( #18,452(


54/97


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#)6,20)( #)),)06( #)0,410( #27,514( #24,618( #21,722( #18,825(


4 5 6 7 8 9 10


#666,667( #666,667( #666,667( #666,667( #666,667( #666,667( #666,667(

#461,580( #421,580( #)81,580( #)41,580( #)01,580( #261,580( #221,580(

0 0 0 0 0 0 0


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#40,767( #)7,)70( #)),97)( #)0,575( #27,178( #2),781( #20,)84(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)6,566( #)),498( #)0,429( #27,)61( #24,292( #21,224( #18,155(BBB BBB BBB BBB BBB BBB BBB

#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#40,201( #)6,804( #)),406( #)0,009( #26,612( #2),215( #19,817(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)8,6)0( #)5,)42( #)2,055( #28,767( #25,479( #22,192( #18,904(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)9,6)5( #)6,2)7( #)2,840( #29,44)( #26,046( #22,648( #19,251(

BBB BBB BBB BBB BBB BBB BBB#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)8,082( #)4,795( #)1,507( #28,219( #24,9)2( #21,644( #18,)56(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(

#)9,068( #)5,671( #)2,274( #28,877( #25,479( #22,082( #18,685(


#55,556( #55,556( #55,556( #55,556( #55,556( #55,556( #55,556(


55/97


56/97

y10 y11 y12 y1) y14 y15 y16

2025 2026 2027 2028 2029 20)0 20)1 20)2

11 12 1) 14 15 16 17 18

BBB BBB BBB BBB BBB 805,149 2)6,809 0

#568,)41( #568,)41( #568,)41( #568,)41( BBB BBB BBB 0#20),108( #169,007( #1)4,907( #100,807( #66,706( #)2,606( #),511( 0

0 0 0 0 0 0 0 0

BBB BBB BBB BBB BBB 805,149 2)6,809

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#18,584( #15,688( #12,792( #9,895( #6,999( #4,10)( #1,207(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#16,568( #1),952( #11,))6( #8,720( #6,104( #),488( #872(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#18,101( #15,205( #12,)09( #9,41)( #6,516( #),620( #724(

BBB BBB BBB BBB BBB 66),064 94,72)

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#17,284( #14,481( #11,678( #8,875( #6,07)( #),270( #467(

BBB BBB BBB BBB BBB 615,702 47,)62

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#17,619( #14,722( #11,826( #8,9)0( #6,0)4( #),1)8( #241(

BBB BBB BBB BBB BBB 568,)41 0#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62( 0

#16,817( #14,014( #11,211( #8,408( #5,606( #2,80)( #0(


#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#17,1)6( #14,240( #11,)4)( #8,447( #5,551( #2,655(

BBB BBB BBB BBB BBB 47),617

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#16,895( #1),998( #11,102( #8,206( #5,)10( #2,414(

BBB BBB BBB BBB 994,596 426,256

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(#16,116( #1),)1)( #10,510( #7,708( #4,905( #2,102(

BBB BBB BBB BBB 947,2)4 )78,894

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#16,412( #1),516( #10,619( #7,72)( #4,827( #1,9)1(

BBB BBB BBB BBB 899,87) ))1,5)2

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#15,649( #12,846( #10,04)( #7,241( #4,4)8( #1,6)5(


57/97

BBB BBB BBB BBB 852,511 284,170

#47,)62( #47,)62( #47,)62( #47,)62( #47,)62( #47,)62(

#15,929( #1),0))( #10,1)7( #7,241( #4,)44( #1,448(

BBB BBB BBB BBB 805,149 2)6,809

11 12 1) 14 15 16 17 18

BBB BBB BBB BBB 666,667 0 0 0

#666,667( #666,667( #666,667( #666,667( BBB 0 0 0

#181,580( #141,580( #101,580( #61,580( #21,580( 0 0 0

0 0 0 0 0 0 0 0

BBB BBB BBB BBB 666,667

#55,556( #55,556( #55,556( #55,556( #55,556(

#16,986( #1),589( #10,192( #6,795( #),)97(


#55,556( #55,556( #55,556( #55,556( #55,556(

#15,087( #12,018( #8,950( #5,881( #2,81)(BBB BBB BBB BBB 555,556

#55,556( #55,556( #55,556( #55,556( #55,556(

#16,420( #1),02)( #9,626( #6,228( #2,8)1(


#55,556( #55,556( #55,556( #55,556( #55,556(

#15,616( #12,)29( #9,041( #5,75)( #2,466(


#55,556( #55,556( #55,556( #55,556( #55,556(

#15,854( #12,457( #9,059( #5,662( #2,265(

BBB BBB BBB BBB )88,889#55,556( #55,556( #55,556( #55,556( #55,556(

#15,068( #11,781( #8,49)( #5,205( #1,918(

BBB BBB BBB BBB ))),)))

#55,556( #55,556( #55,556( #55,556( #55,556(

#15,288( #11,890( #8,49)( #5,096( #1,699(

BBB BBB BBB 944,444 277,778

#55,556( #55,556( #55,556( #55,556( #55,556(


58/97

#15,005( #11,607( #8,210( #4,81)( #1,416(

BBB BBB BBB 888,889 222,222

#55,556( #55,556( #55,556( #55,556( #55,556(

#14,247( #10,959( #7,671( #4,)84( #1,096(

BBB BBB BBB 8)),))) 166,667

#55,556( #55,556( #55,556( #55,556( #55,556(

#14,4)8( #11,041( #7,644( #4,247( #849(BBB BBB BBB 777,778 111,111

#55,556( #55,556( #55,556( #55,556( #55,556(

#1),699( #10,411( #7,12)( #),8)6( #548(

BBB BBB BBB 722,222 55,556

#55,556( #55,556( #55,556( #55,556( #55,556(

#1),872( #10,475( #7,078( #),680( #28)(

BBB BBB BBB 666,667 #0(


59/97

20)) 20)4 20)5

19 20 21

0 0 0

0 0 00 0 0

0 0 0


60/97

19 20 21

0 0 0

0 0 0

0 0 0

0 0 0


61/97


62/97

Interest 6% Montly


Case 1 % 2 ;ear y1 y2

2014 2015 2016 2017

re*&s 0 1 2 )

:oan ra


63/97

3alance ra


64/97

y) y4 y5 y6 y7 y8 y9

2018 2019 2020 2021 2022 202) 2024

4 5 6 7 8 9 10


#644,4)7( #644,4)7( #644,4)7( #644,4)7( #644,4)7( #644,4)7( #644,4)7(#500,966( #462,299( #42),6))( #)84,967( #)46,)01( #)07,6)5( #268,968(

0 0 0 0 0 0 0


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#44,060( #40,776( #)7,492( #)4,208( #)0,924( #27,640( #24,)56(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#)9,549( #)6,58)( #)),617( #)0,650( #27,684( #24,718( #21,752(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#4),51)( #40,229( #)6,945( #)),661( #)0,)77( #27,09)( #2),809(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#41,844( #)8,666( #)5,488( #)2,)10( #29,1)2( #25,954( #22,776(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#42,965( #)9,681( #)6,)97( #)),11)( #29,829( #26,545( #2),262(

BBB BBB BBB BBB BBB BBB BBB#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#41,)15( #)8,1)7( #)4,958( #)1,780( #28,602( #25,424( #22,246(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#42,418( #)9,1)4( #)5,850( #)2,566( #29,282( #25,998( #22,714(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#42,144( #)8,860( #)5,576( #)2,292( #29,008( #25,724( #22,441(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(#40,520( #)7,)42( #)4,164( #)0,986( #27,808( #24,6)0( #21,452(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#41,597( #)8,)1)( #)5,029( #)1,745( #28,461( #25,177( #21,89)(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#)9,990( #)6,812( #)),6)4( #)0,456( #27,278( #24,100( #20,922(


65/97


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#41,050( #)7,766( #)4,482( #)1,198( #27,914( #24,6)0( #21,)46(



66/97

y10 y11 y12 y1) y14 y15 y16

2025 2026 2027 2028 2029 20)0 20)1 20)2

11 12 1) 14 15 16 17 18

BBB BBB BBB BBB BBB 912,952 268,515 0

#644,4)7( #644,4)7( #644,4)7( #644,4)7( BBB BBB BBB 0#2)0,)02( #191,6)6( #152,970( #114,)04( #75,6)7( #)6,971( #),981( 0

0 0 0 0 0 0 0 0


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#21,072( #17,788( #14,504( #11,220( #7,9)6( #4,652( #1,)68(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#18,786( #15,820( #12,85)( #9,887( #6,921( #),955( #989(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#20,525( #17,241( #1),957( #10,67)( #7,)89( #4,105( #821(

BBB BBB BBB BBB BBB 751,84) 107,406

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#19,598( #16,420( #1),242( #10,064( #6,886( #),708( #5)0(

BBB BBB BBB BBB BBB 698,140 5),70)

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#19,978( #16,694( #1),410( #10,126( #6,842( #),558( #274(

BBB BBB BBB BBB BBB 644,4)7 #0(#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)( 0

#19,068( #15,890( #12,712( #9,5)4( #6,)56( #),178( 0

BBB BBB BBB BBB BBB 590,7)4

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#19,4)0( #16,146( #12,862( #9,578( #6,294( #),010(

BBB BBB BBB BBB BBB 5)7,0)1

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#19,157( #15,87)( #12,589( #9,)05( #6,021( #2,7)7(

BBB BBB BBB BBB BBB 48),)27

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(#18,274( #15,096( #11,918( #8,740( #5,562( #2,)84(


#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#18,609( #15,)25( #12,041( #8,757( #5,47)( #2,189(

BBB BBB BBB BBB BBB )75,921

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#17,744( #14,566( #11,)88( #8,210( #5,0)2( #1,854(


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BBB BBB BBB BBB 966,655 )22,218

#5),70)( #5),70)( #5),70)( #5),70)( #5),70)( #5),70)(

#18,062( #14,778( #11,494( #8,210( #4,926( #1,642(

BBB BBB BBB BBB 912,952 268,515


68/97

20)) 20)4 20)5

19 20 21

0 0 0

0 0 00 0 0

0 0 0


69/97


70/97

2014 2015 2016 201# 2018

0 1 2 ) 4

e"eue 0 0 1258644 1258644 1258644

P+> -45,000 -#4,400 -##,136 -#,81

KISS Management -864000 -864000 -864000 -864000 -864000

.AP+> -#6254#3 0 0 0


71/97

201 2020 2021 2022 2023 2024 2025 2026

5 6 7 8 9 10 11 12

1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644

-82,41 -86,018 -8,21 -2,548 -6,010 -,610 -103,355 -10#,24

-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000

0 0 0 0 0 0 0 0


72/97

202# 2028 202 2030 2031 2032 2033 2034

1) 14 15 16 17 18 19 20

1258644 1258644 1258644 1258644 1258644 1258644 1258644 1258644

-111,2 -115,511 -11,81 -124,44# -12,185 -134,112 -13,236 -144,566

-864000 -864000 -864000 -864000 -864000 -864000 -864000 -864000

0 0 0 0 0 0 0 0


73/97

2035

21

1258644

-150,108

-864000

0


74/97

ase 1 2015 2016 2017

;ear 0 1 2 )

-e>en"e 0$00 0 1,258,644 1,258,644

#146,400( #146,400( #152,256( #2)0,516(

Ins"rance #)7625( #)7,776( #)7,927( #)8,078(

rrA509 0 0 0

peratin# cash&ow rrA509 #184,176( 1,068,461 990,050

Net cash&ow rrA509 #184176( 1068461 990050

:oan #ra


75/97

2018 2019 2020 2021 2022 202)

4 5 6 7 8 9

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#2)9,7)7( #249,)26( #259,299( #269,671( #280,458( #291,676(

#)8,2)1( #)8,)84( #)8,5)7( #)8,691( #)8,846( #)9,001(

0 0 0 0 0 0

980,677 970,9)4 960,808 950,282 9)9,)40 927,966

980677 9709)4 960808 950282 9)9)40 927966

#404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(

#520,000( #520,000( #520,000( #520,000( #520,000( #520,000(

0 0 0 0 0 0

56444 77902 98975 119649 1)9908 1597)4


76/97

2024 2025 2026 2027 2028 2029 20)0

10 11 12 1) 14 15 16

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#)0),)4)( #)15,477( #)28,096( #)41,220( #)54,869( #)69,064( #)8),826(

#)9,157( #)9,)14( #)9,471( #)9,629( #)9,788( #)9,947( #40,107(

0 0 0 0 0 0 0

916,14) 90),85) 891,077 877,795 86),988 849,6)4 8)4,711

91614) 90)85) 891077 877795 86)988 8496)4 8)4711

#217,0)2( #185,8)2( #154,6)2( #12),4)2( #92,2)2( #61,0)2( #29,8)2(

#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(

0 0 0 0 0 0 0

179111 198021 216444 2)4)6) 251755 268601 284879


77/97

20)1 20)2 20)) 20)4 20)5

17 18 19 20 21

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#)99,179( #415,146( #4)1,752( #449,022( #466,98)(

#40,267( #40,428( #40,590( #40,752( #40,915(

0 0 0 0 0

819,198 80),070 786,)02 768,870 750,746

819198 80)070 786)02 768870 750746

#),21)( 0 0 0 0

#216,667( 0 0 0 0

0 0 0 0 0

599)19 80)070 786)02 768870 750746


78/97


79/97

4 5 6 7 8 9

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#260,576( #270,999( #281,8)9( #29),11)( #)04,8)7( #)17,0)1(

0 0 0 0 0 0

998,068 987,645 976,805 965,5)1 95),807 941,61)#249,517( #246,911( #244,201( #241,)8)( #2)8,452( #2)5,40)(

748551 7407)4 7)2604 724149 715)55 706210

#404,2)2( #)7),0)2( #)41,8)2( #)10,6)2( #279,4)2( #248,2)2(

#520,000( #520,000( #520,000( #520,000( #520,000( #520,000(

0 0 0 0 0 0101058 9)258 85458 77658 69858 62058

#7462)( #59041( #4)770( #28826( #14219( )6


80/97

10 11 12 1) 14 15 16

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#)29,712( #)42,900( #)56,616( #)70,881( #)85,716( #401,145( #417,191(

0 0 0 0 0 0 0

928,9)2 915,744 902,028 887,76) 872,928 857,499 841,45)#2)2,2))( #228,9)6( #225,507( #221,941( #218,2)2( #214,)75( #210,)6)(

696699 686808 676521 665822 654696 64)124 6)1090

#217,0)2( #185,8)2( #154,6)2( #12),4)2( #92,2)2( #61,0)2( #29,8)2(

#520,000( #520,000( #520,000( #520,000( #520,000( #520,000( #520,000(

0 0 0 0 0 0 054258 46458 )8658 )0858 2)058 15258 7458

1)925 274)4 40547 5)248 65522 77)50 88716


81/97

17 18 19 20 21

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#4)),878( #451,2))( #469,28)( #488,054( #507,576(

0 0 0 0 0

824,766 807,411 789,)61 770,590 751,068#206,191( #201,85)( #197,)40( #192,648( #187,767(

618574 605558 592021 57794) 56))01

#),21)( 0 0 0 0

#216,667( 0 0 0 0

0 0 0 0 080) 0 0 0 0

)99498 605558 592021 57794) 56))01


82/97

ase )

;ear 0 1 2

-e>en"e 0$00 0 1,258,644

#22)901( #22),901( #2)2,857(

rrA509 0 0

peratin# cash&ow rrA509 #22),901( 1,025,787'a( 25% rrA509 0 #256,447(

Net cash&ow rrA509 #22)901( 769)40

:oan #ra


83/97

) 4 5 6 7 8

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#242,171( #251,858( #261,9))( #272,410( #28),)06( #294,6)8(

0 0 0 0 0 0

1,016,47) 1,006,786 996,711 986,2)4 975,))8 964,006#254,118( #251,696( #249,178( #246,559( #24),8)4( #241,001(

762)55 755089 7475)4 7)9676 7)150) 72)004

#501580( #461580( #421580( #)81580( #)41580( #)01580(

#666667( #666667( #666667( #666667( #666667( #666667(

0 0 0 0 0 0125)95 115)95 105)95 95)95 85)95 75)95

#280497( #257762( #2)5)18( #21)176( #191)48( #169847(


84/97

9 10 11 12 1) 14 15

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#)06,424( #)18,681( #))1,428( #)44,685( #)58,47)( #)72,812( #)87,724(

0 0 0 0 0 0 0

952,220 9)9,96) 927,216 91),959 900,171 885,8)2 870,920#2)8,055( #2)4,991( #2)1,804( #228,490( #225,04)( #221,458( #217,7)0(

714165 704972 695412 685469 675128 664)74 65)190

#261580( #221580( #181580( #141580( #101580( #61580( #21580(

#666667( #666667( #666667( #666667( #666667( #666667( #666667(

0 0 0 0 0 0 065)95 55)95 45)95 )5)95 25)95 15)95 5)95

#148687( #127879( #107440( #87)8)( #6772)( #48477( #29662(


85/97

16 17 18 19 20 21

1,258,644 1,258,644 1,258,644 1,258,644 1,258,644 1,258,644

#40),2))( #419,)62( #4)6,1)7( #45),582( #471,726( #490,595(

0 0 0 0 0 0

855,411 8)9,282 822,507 805,062 786,918 768,049#21),85)( #209,820( #205,627( #201,265( #196,7)0( #192,012(

641558 629461 616880 60)796 590189 5760)7

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 00 0 0 0 0 0

641558 629461 616880 60)796 590189 5760)7


86/97

)n&ow

>erage Sales "t&"t * 1M&

-ef"n from ener 3on

0 *A+

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cost

SS cost to C3

ener ?on

erformance ?on

Misc ost #fencing ! lan &re&aration(

Initial

eicles

:an cost #lease rental &ai "&front(

Man&o


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I-- 7%

nerlying ss"m&tions A

1 :an :ease cost


88/97


89/97


90/97

.operasi .)// ,erha

he er !ne 2016 - 2036 for 1p

2019 2020 2021 2022

ear 8 ear 5 ear 6 ear :

1,)02,272 1,288,846 1,275,421 1,261,995

1730272:2 172997986 172:57821 1726175

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

1)7,500

0 0 0 0

68,788 71,5)9 74,401 77,)7711,2)1 11,680 12,147 12,6))

7,019 7,)00 7,592 7,896

84,2)0 87,599 91,10) 94,747

75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625

2987182 829783 297119 305752:

170197130 9607353 ::7303 567869

#500,280( #470,76)( #4)9,424( #406,15)(

*478,582 *508,100 *5)9,4)8 *572,709

)9,268 *118,509 *1,559 *22,)95

721,626 60),117 601,558 579,164


91/97


92/97

202) 2024 2025 2026

ear 9 ear ear 10 ear 11

1,248,570 1,221,719 1,208,29) 1,194,868

1728975:0 172217:1 17209723 17187969

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

171,875

0 0 0 0

80,472 8),691 87,0)8 90,5201),1)8 1),664 14,210 14,779

8,211 8,540 8,881 9,2)7

98,5)7 102,478 106,578 110,841

75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625

3137238 3217289 5017859 3397251

357336 0078:1 :067935 956761:

#)70,829( #))),)27( #29),512( #251,241(

*608,0)) *645,5)5 *685,)50 *727,621

*4),526 *78,)91 *272,027 *122,245

5)5,6)8 457,247 185,220 62,975


93/97


94/97

2027 2028 2029 20)0

ear 12 ear 13 ear18 ear 15

1,181,442 1,181,442 1,168,017 1,154,591

171917882 171917882 17169701: 17158751

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

0 0 0 0

94,141 97,906 101,82) 105,89515,)70 15,985 16,624 17,289

9,606 9,990 10,)90 10,806

115,274 119,885 124,681 129,668

75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625

38:7266 3567682 366732 3:67533

93871:6 9287900 9017625 ::97059

#206,)6)( #158,717( #108,1)2( #54,428(

*772,499 *820,145 *870,7)0 *924,4)5

*144,686 *154,062 *177,2)8 *200,804

*81,711 *2)5,77) *41),011 *61),815


95/97


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20)1 20)2 20)) 20)4 20)5 20)6

ear 16 ear 1: ear 19 ear 1 ear 20 ear 21

1,141,166 1,127,740 1,114,)15 1,100,889 1,087,464 1,075,0)8

171817166 1712:7:80 ;;; ;;; ;;; ;;;

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

0 0 0 0 0 0

110,1)1 114,5)7 119,118 12),88) 128,8)8 1)),99217,981 18,700 19,448 20,226 21,0)5 21,876

11,2)8 11,687 12,155 12,641 1),147 1),67)

1)4,855 140,249 145,859 151,69) 157,761 164,071

75,250 75,250 75,250 75,250 75,250 75,250

)7625 )7625 )7625 )7625 )7625 )7625

39:70: 397089 807855 8217319 8337655 886789:

:58709: :2762 :087960 6:75:1 653790 6297551

#6,047( 0 0 0 0 0

*401,812 0 0 0 0 0

)46,227 729,692 704,860 679,571 65),809 628,551

*267,587 462,105 1,166,965 1,846,5)7 2,500,)45 ),128,897


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Kiss Project - Solar Panel (Monthly Rest)180814

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Transcript of Kiss Project - Solar Panel (Monthly Rest)180814