diff --git a/.aiexclude b/.aiexclude new file mode 100644 index 000000000..03bd4129b --- /dev/null +++ b/.aiexclude @@ -0,0 +1 @@ +*.env diff --git a/.bumpversion.cfg b/.bumpversion.cfg index b16532369..d397297b7 100644 --- a/.bumpversion.cfg +++ b/.bumpversion.cfg @@ -1,5 +1,5 @@ [bumpversion] -current_version = 3.10.24 +current_version = 3.10.25 commit = True tag = True diff --git a/.cookiecutterrc b/.cookiecutterrc index 56f2be8c4..1efcb17eb 100644 --- a/.cookiecutterrc +++ b/.cookiecutterrc @@ -54,7 +54,7 @@ default_context: sphinx_doctest: "no" sphinx_theme: "sphinx-py3doc-enhanced-theme" test_matrix_separate_coverage: "no" - version: 3.10.24 + version: 3.10.25 version_manager: "bump2version" website: "https://github.com/NREL" year_from: "2023" diff --git a/.gitignore b/.gitignore index a922924be..7ff373e9e 100644 --- a/.gitignore +++ b/.gitignore @@ -37,7 +37,11 @@ requirements_2025-08-11.txt .build .cache .eggs + .env +*.env +tests/regenerate-example-result.env + .installed.cfg .ve bin @@ -94,6 +98,7 @@ output/*/index.html docs/_build docs/reference/geophires-request.json docs/reference/parameters.rst +docs/Fervo_Project_Cape-4.md docs/geophires-request.json docs/parameters.rst docs/hip-ra-x-request.json diff --git a/CHANGELOG.rst b/CHANGELOG.rst index 0c2f9f01e..b817a7080 100644 --- a/CHANGELOG.rst +++ b/CHANGELOG.rst @@ -8,6 +8,8 @@ GEOPHIRES v3 (2023-2025) 3.10 ^^^^ +3.10.25: `Add Number of Injection Wells per Production Well parameter `__ + 3.10: `SAM Economic Models: Multiple Construction Years; Number of Fractures per Stimulated Well parameter; Royalty Rate Escalation Start Year parameter `__ | `release `__ 3.9 diff --git a/MANIFEST.in b/MANIFEST.in index 3440150e6..86c6af67b 100644 --- a/MANIFEST.in +++ b/MANIFEST.in @@ -3,6 +3,7 @@ graft src graft ci graft tests +include .aiexclude include .bumpversion.cfg include .cookiecutterrc include .coveragerc diff --git a/README.rst b/README.rst index ad9530116..1c97d6b29 100644 --- a/README.rst +++ b/README.rst @@ -58,9 +58,9 @@ Free software: `MIT license `__ :alt: Supported implementations :target: https://pypi.org/project/geophires-x -.. |commits-since| image:: https://img.shields.io/github/commits-since/softwareengineerprogrammer/GEOPHIRES-X/v3.10.24.svg +.. |commits-since| image:: https://img.shields.io/github/commits-since/softwareengineerprogrammer/GEOPHIRES-X/v3.10.25.svg :alt: Commits since latest release - :target: https://github.com/softwareengineerprogrammer/GEOPHIRES-X/compare/v3.10.24...main + :target: https://github.com/softwareengineerprogrammer/GEOPHIRES-X/compare/v3.10.25...main .. |docs| image:: https://readthedocs.org/projects/GEOPHIRES-X/badge/?style=flat :target: https://nrel.github.io/GEOPHIRES-X @@ -168,6 +168,10 @@ Example-specific web interface deeplinks are listed in the Link column. - Input file - Case report file - Link + * - Case Study: 500 MWe EGS modeled on Fervo Cape Station Phase II (`documentation `__) + - `Fervo_Project_Cape-4.txt `__ + - `.out `__ + - `link `__ * - Example 1: EGS Electricity - `example1.txt `__ - `.out `__ @@ -288,10 +292,10 @@ Example-specific web interface deeplinks are listed in the Link column. - `Fervo_Project_Cape-3.txt `__ - `.out `__ - `link `__ - * - Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station (`documentation `__) - - `Fervo_Project_Cape-4.txt `__ - - `.out `__ - - `link `__ + * - 100 MWe EGS modeled on Fervo Cape Station Phase I + - `Fervo_Project_Cape-5.txt `__ + - `.out `__ + - `link `__ * - Superhot Rock (SHR) Example 1 - `example_SHR-1.txt `__ - `.out `__ diff --git a/docs/Fervo_Project_Cape-4.md.jinja b/docs/Fervo_Project_Cape-4.md.jinja new file mode 100644 index 000000000..c94e89392 --- /dev/null +++ b/docs/Fervo_Project_Cape-4.md.jinja @@ -0,0 +1,343 @@ +# GEOPHIRES Case Study: 500 MW EGS modeled on Fervo Cape Station + +## Introduction + +The GEOPHIRES example `Fervo_Project_Cape-4` is a case study of a 500 MWe EGS project modeled +on Phase II of [Fervo Energy's Cape Station](https://capestation.com/). + +Key case study results include LCOE = {{ '$' ~ lcoe_usd_per_mwh ~ '/MWh' }} and IRR = {{ irr_pct ~ '%' }}. + +[Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4) to +interactively explore the case study in the GEOPHIRES web interface. + +### Modeling Overview: A Conservative, Second-of-a-Kind Analog + +This case study models a 500 MWe Enhanced Geothermal System (EGS) project designed to represent a "Second-of-a-Kind" ( +SOAK) deployment. +Rather than serving as an exact facsimile of Cape Station as built, this study estimates what a non-Fervo developer +could achieve on a geologically identical site, relying primarily on publicly available data and standardized +engineering estimates. +The model assumes the developer is a "fast follower": benefiting from the proof-of-concept established by Cape Station +Phase I but operating without access to Fervo’s private supply chain or proprietary optimization data. + +**Public Data Reliance:** Inputs utilize exact values for publicly available parameters, such as reservoir +density ([2800 kg/m³](https://doi.org/10.31223/X52X0B)) and geothermal +gradient ([72.23 ℃/km](https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf)). +Where data is proprietary, values are inferred from public announcements or extrapolated from standard industry +correlations. + +**Conservative Constraints:** To ensure the model serves as a robust feasibility test, some inputs are intentionally +conservative compared to Fervo’s stated targets, such as drilling costs and water loss. + +**Fast Follower Advantage:** By entering the market after Fervo’s initial de-risking campaigns, the modeled developer +avoids the high "tuition costs" of early experimentation. +For example, while Fervo’s initial drilling costs at Cape Station ranged +from [$9.4M down to $4.8M per well](https://houston.innovationmap.com/fervo-energy-drilling-utah-project-2667300142.html) +as they climbed the learning curve, +this model assumes a developer can bypass those initial high-cost outliers, +instead initiating their campaign at a stabilized commercial baseline (modeled here +at {{ '$' ~ drilling_costs_per_well_musd ~ 'M/well' }}, aligned with the NREL ATB and 2025 cost curves). +This reflects a developer who capitalizes on established industry knowledge to skip the "First-of-a-Kind" (FOAK) +premiums but has not yet achieved the fully optimized learning rates of a mature "Nth-of-a-kind" operator. + +### Intended Use Cases + +This case study is designed to function as a public utility for the geothermal sector, serving two primary roles: + +**Industry Benchmark:** By relying primarily on verifiable public data and independent expert consensus, this model +establishes a transparent baseline for EGS viability. +It tests the premise that Fervo’s success at Cape Station is a replicable standard for the next-generation geothermal +industry. +The results serve as reference points for what is achievable using current technology in high-grade resources. + +**Template for Resource Assessment & Custom Modeling:** The example input file (`Fervo_Project_Cape-4.txt`) is intended +as customizable template for modeling other resources. +Users can input local geologic data (gradient, rock properties) into this template to evaluate how a Cape Station-style +design would perform in different geographies (e.g., Nevada vs. Utah vs. International). +Different plant sizes and performance targets can be modeled by adjusting the number of doublets, fractures per well, +and other technical & engineering parameters. +The model allows users to stress-test economic assumptions, such as the PPA price or Investment Tax Credit (ITC), to see +how policy changes impact the feasibility of replicating this design elsewhere. + +## Methodology + +The Inputs and Results tables document key assumptions, inputs, and a comparison of results with reference +values. +Note that these are not the exhaustive set of inputs and results, which are available in source code and +the [web interface](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4). + +### Inputs + +Exact values were used for publicly available technical and engineering parameters, such as reservoir +density ([2800 kg/m³](https://doi.org/10.31223/X52X0B)). +Some technical parameters were inferred from publicly available data, such as geothermal +gradient ([72.23 ℃/km](https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf)). +Other parameters were extrapolated or speculatively estimated based on plausibility and/or compatibility with known +results, such as number of doublets (well pairs). + +See [Fervo_Project_Cape-4.txt](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4.txt) +in source code for the full set of inputs. + +#### Economic Parameters + +{# @formatter:off #} +| Parameter | Input Value(s) | Source | +|----------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| +| Economic Model | SAM Single Owner PPA | The SAM Single Owner PPA economic model is used to calculate financial results including LCOE, NPV, IRR, and pro-forma cash flow analysis. See [GEOPHIRES documentation of SAM Economic Models](https://softwareengineerprogrammer.github.io/GEOPHIRES/SAM-Economic-Models.html) for details on how System Advisor Model financial models are integrated into GEOPHIRES. | +| PPA Price | Starting at {{ starting_ppa_price_cents_per_kwh ~ '¢/kWh' }}, escalating to {{ year_10_ppa_price_cents_per_kwh }}¢/kWh by project year 11. | Aligns with Geysers - Sacramento pricing in 2024b ATB (NREL, 2025). See Sensitivity Analysis for effect of different prices on results. | +| Inflation Rate | 2.7% | US inflation rate as of December 2025 | +| Investment Tax Credit Rate (ITC) | 30% | Geothermal Drilling & Completions Apprenticeship Program ensures compliance with ITC labor requirements (Southern Utah University, 2024). | +| Discount Rate | 12% | Typical discount rates for high-risk projects may be 12–15% | +| Inflated Bond Interest Rate | 8% | Higher than typical debt annual interest rate | +| Inflated Bond Interest Rate During Construction | 10% | Higher interest rate during construction to account for increased risk of default | +| Fraction of Investment in Bonds (percent debt vs. equity) | 60% | Approximate remaining percentage of CAPEX with $1 billion sponsor equity per Matson, 2024. Note that this source says that Fervo ultimately wants to target "15% sponsor equity, 15% bridge loan, and 70% construction to term loans", but this case study does not attempt to model that capital structure. | +| WACC | {{ wacc_pct ~ '%' }} | Fervo's target goal is to eventually achieve a "Solar Standard" WACC of 8.3% (Matson, 2024). | +| Exploration Capital Cost | {{ '$' ~ exploration_cost_musd ~ 'M' }} | Equivalent to 2024b ATB NF-EGS conservative scenario exploration assumption of 5 full-size wells (NREL, 2025), plus $1M for geophysical and field work, plus 15% contingency, plus 12% indirect costs. | +| Well Drilling Cost Correlation & Adjustment Factor | {Vertical large baseline correlation} × {adjustment factor = 0.9} | NREL, 2025; Akindipe & Witter, 2025. Note: Fervo claims lower drilling costs of <$4M/well (Latimer, 2025), which would be equivalent to an adjustment factor of 0.8. | +| Reservoir Stimulation Capital Cost per Well | {{ '$' ~ stim_costs_per_well_musd ~ 'M' }} (all-in cost, including 5% indirect costs and 15% contingency) | The all-in cost is based on a $4M baseline stimulation cost, calibrated from per-stage costs of high-intensity U.S. shale wells (Baytex Energy, 2024; Quantum Proppant Technologies, 2020), which are the closest technological analogue for multi-stage EGS (Gradl, 2018). Costs are also driven by the requirement for high-strength ceramic proppant rather than standard sand, which would crush or chemically degrade (diagenesis) over a 30-year lifecycle at 200℃ (Ko et al., 2023; Shiozawa & McClure, 2014) and the premium for ultra-high-temperature (HT) downhole tools. | +| Capital Cost for Power Plant for Electricity Generation | $1900/kW | US DOE, 2021. | +{# @formatter:on #} + +#### Technical & Engineering Parameters + +{# @formatter:off #} +| Parameter | Input Value(s) | Source | +|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| +| Gradient | {{ gradient_1_degc_per_km ~ '℃/km' }} | 200℃ at 8500 ft depth (Fercho et al., 2024), 228.89℃ at 9824 ft (Norbeck et al., 2024). | +| Construction Years | {{ construction_yrs }} | Ground broken in 2023 (Fervo Energy, 2023). Expected to reach full scale production in 2028 (Fervo Energy, 2025). See [GEOPHIRES documentation](SAM-EM_Multiple-Construction-Years.html) for details on how construction years affect CAPEX, IRR, and other calculations. | +| Plant Lifetime | {{ plant_lifetime_yrs }} years | 30-year well life per Geothermal Mythbusting: Water Use and Impacts (Fervo Energy, 2025). | +| Well diameter | 9⅝ inches (OD); 8½ inches (ID) | 9⅝" is the next standard size up from 7", implied by announcement of "increasing casing diameter" (Fervo Energy, 2025). | +| Flow Rate per Production Well | {{ flowrate_kg_per_sec_per_well }} kg/s | Fercho et al, 2025 models reservoir performance using 100 kg/s per well. The maximum flow rate achieved at Cape Station was 107 kg/s (Fervo Energy, 2024). The announced increased casing diameter implies higher flow rates. | +| Number of Doublets | {{ number_of_doublets }} | Each well pair (doublet) is expected to initially produce up to 11 MWe (gross) at a 107 kg/s flow rate. A well pair producing 11 MWe gross with ~10% parasitic loss produces approximately 10 MWe net. | +| Number of Fractures per Well | 200 | The model assumes a "High-Intensity" stimulation design utilizing 25 geometric stages with 8 clusters per stage (Extreme Limited Entry) (Fervo Energy, 2023). | +| Fracture Separation | {{ fracture_separation_m }} m | Based on number of fractures per lateral and lateral length | +| Fracture Geometry | {{ fracture_height_m }} m diameter (Circular) | Approximates ellipsoidal fracture with 228 meter height and 152 meter length | +| Reservoir Volume | {{ reservoir_volume_m3 }} m³ | Calculated from fracture area × fracture separation × number of fractures per well × number of wells | +| Water Loss Rate | 15% | Water loss rate is conservatively estimated to be between 10 and 20%. Other estimates and some simulations may suggest a significantly lower water loss rate than this conservative estimate. See [Geothermal Mythbusting: Water Use and Impacts](https://fervoenergy.com/geothermal-mythbusting-water-use-and-impacts/) (Fervo Energy, 2025). | +| Maximum Drawdown | {{ maximum_drawdown_pct ~ '%' }} | This value represents the drop in production temperature compared to the initial temperature that is allowed before the wellfield is redrilled. It is tuned to keep minimum net electricity generation over the project lifetime ≥500 MWe. | +| Productivity Index | {{ productivity_index_kg_per_sec_per_bar }} kg/s/bar | NREL ATB conservative scenario. Yields ~10% initial pumping power/net installed power. | +| Injection Temperature | {{ injection_temperature_degc ~ '℃' }} | Calibrated with GEOPHIRES model-calculated reinjection temperature (Beckers & McCabe, 2019). Close to upper bound of Project Red injection temperatures (75–125℉; 23.89–51.67℃) (Norbeck & Latimer, 2023). | +| Ambient Temperature | {{ ambient_temperature_degc ~ '℃' }} | Average annual temperature of Milford, Utah (NCEI). Note that this value affects heat to power conversion efficiency. The effects of hourly and seasonal ambient temperature fluctuations on efficiency and power generation are not modeled in this version of the case study. | +{# @formatter:on #} + +## Results + +See [Fervo_Project_Cape-4.out](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4.out) +in source code for the complete results. + +### Economic Results + +| Metric | Result Value | Reference Value(s) | Reference Source | +|---------------|---------------------------------------------|--------------------------------------------------|------------------| +| LCOE | {{ '$' ~ lcoe_usd_per_mwh ~ '/MWh' }} | \$80/MWh | Horne et al, 2025. | +| After-tax IRR | {{ irr_pct ~ '%' }} | 15–25% | Typical levered returns for energy projects | +| Project NPV | {{ '$' ~ npv_musd ~ 'M' }} | | .. N/A | +{# Note that the '.. N/A' entry in the last row is required for the table to render in HTML (presumable m2r2/sphinx build issue) #} + +### Capital Costs + +{# @formatter:off #} +| Metric | Result Value | Reference Value(s) | Reference Source | +|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|---------------------------------------------|--------------------------------------------------|------------------| +| Exploration Costs | {{ '$' ~ exploration_cost_musd ~ 'M' }} | {{ '$' ~ drilling_costs_per_well_musd*5 ~ 'M' }} (2024b ATB NF-EGS conservative scenario exploration assumption of 5 full-size wells. Case study result conservatively includes additional costs for geophysical survey, indirect costs, and contingency.) | NREL, 2025. | +| Well Drilling and Completion Costs | {{ '$' ~ drilling_costs_musd ~ 'M' }} total ({{ '$' ~ drilling_costs_per_well_musd ~ 'M/well' }}) | $<4M/well | Latimer, 2025. | +| Stimulation Costs | {{ '$' ~ stim_costs_musd ~ 'M' }} total ({{ '$' ~ stim_costs_per_well_musd ~ 'M/well' }}) | $4.65M/well (based on 46%:54% drilling:stimulation cost ratio) | Yusifov & Enriquez, 2025. | +| Surface Power Plant Costs | {{ '$' ~ surface_power_plant_costs_gusd ~ 'B' }} | Calculated with GEOPHIRES [built-in power plant cost correlation](Theoretical-Basis-for-GEOPHIRES.html#cost-correlations-capital-and-o-m); pricing information not publicly available for Turboden Gen2 ORC units. | Turboden, 2025. | +| Field Gathering System Costs | {{ '$' ~ field_gathering_cost_musd ~ 'M' }} ({{ field_gathering_cost_pct_occ ~ '%' }} of OCC) | 2% of OCC | Matson, 2024. | +| Overnight Capital Cost | {{ '$' ~ occ_gusd ~ 'B' }} | | | +| Total CAPEX | {{ '$' ~ total_capex_gusd ~ 'B' }} (OCC + interest and inflation during construction) | | | +| Total CAPEX: $/kW | {{ '$' ~ capex_usd_per_kw ~ '/kW' }} (based on maximum net electricity generation) | $5000/kW; $4500/kW; $3000–$6000/kW | McClure, 2024; Horne et al, 2025; Latimer, 2025. | +{# @formatter:on #} + + +### Technical & Engineering Results + +{# @formatter:off #} +| Metric | Result Value | Reference Value(s) | Reference Source | +|--------------------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------|---| +| Total fracture surface area per well | {{ total_fracture_surface_area_per_well_mm2 }}×10⁶ m² ({{ total_fracture_surface_area_per_well_mft2 }} million ft²) | Project Red: 2.787×10⁶ m² (30 million ft²) | Greater fracture surface area expected than Project Red (Fercho et al, 2025). | +| Bottom-hole Temperature (BHT) | {{ bht_temp_degc ~ '℃' }} | 200℃ | Fercho et al., 2024. | +| Average Production Temperature | {{ average_production_temperature_degc }} ℃ | 204℃, 190.6–198.6℃ (optimal plant operating range) | Trent, 2024; Norbeck et al, 2024. | +| Minimum Net Electricity Generation | {{ min_net_generation_mwe }} MW | 500 MW | The announced upsizing to 500 MWe (Fervo Energy, 2025) is interpreted to mean that Cape Station's net electricity generation does not fall below 500 MWe. | +| Average Net Electricity Generation | {{ avg_net_generation_mwe }} MW | | | +| Maximum Net Electricity Generation | {{ max_net_generation_mwe}} MW | | | +| Maximum Total Electricity Generation | {{ max_total_generation_mwe }} MW | Actual maximum total (gross) generation will be constrained by the combined nameplate capacity of modular power plants which are not individually modeled in this case study. Turboden has announced delivery of three 60 MWe ORC units; 10 such units would be required to support maximum total generation between 540 and 600 MWe. | Turboden, 2025. | +| Number of times redrilling | {{ number_of_times_redrilling }} | 2–5 | Redrilling expected to be required within 5–10 years of project start | +{# @formatter:on #} + +### Sensitivity Analysis + +The following charts show the sensitivity of key metrics to various inputs. +Each chart shows the sensitivity of a single metric, such as LCOE, to the set of tested input values. +The leftmost chart column shows the parameter being tested and its baseline case study input value in parentheses. +The bars for each row show the deltas of the metric value from the baseline case study value for the values tested for +that parameter. +Green bars indicate favorable outcomes, such as lower LCOE or higher IRR, while gray bars indicate unfavorable outcomes, +such as higher LCOE or lower IRR. + +Click the bars to view the sensitivity analysis result for the input value in the web interface. + +### LCOE + +.. raw:: html + + + + + + LCOE Sensitivity Analysis Chart + +**Impact of PPA Price on LCOE:** The sensitivity analysis reveals a positive correlation between the Power Purchase +Agreement (PPA) price and the Levelized Cost of Electricity (LCOE). While counterintuitive, this is a function of SAM +Economic Models treating federal and state income taxes as operating cash outflows. + +In SAM Economic Models, the PPA price is a fixed input that determines project revenue. A higher PPA price generates +higher taxable income, which in turn increases the project's annual income tax liability (a negative cash flow). Because +the LCOE calculation aggregates all lifetime project costs—including the tax burden—the additional tax costs incurred +from higher revenues result in a higher calculated LCOE. Conversely, a lower PPA price reduces taxable income, lowers +tax liability, and decreases the resulting LCOE. + +### IRR + +.. raw:: html + + + + IRR Sensitivity Analysis Chart + +### NPV + +.. raw:: html + + + + NPV Sensitivity Analysis Chart + +Users may wish to perform their own sensitivity analysis +using [GEOPHIRES's Monte Carlo simulation module](Monte-Carlo-User-Guide.html) or other data analysis tools. + +## Phase I 100 MWe Model + +The case study also includes a 100 MWe Phase I model, `Fervo_Project_Cape-5`. +[Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-5) to view the +Phase I model in the GEOPHIRES web interface. + +## Previous Versions + +This page describes the current version of the `Fervo_Project_Cape-4` GEOPHIRES example. +Documentation is available for the following previous versions, which are deprecated in favor of the current version: + +1. [Fervo_Project_Cape-4_v2025-08-11](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/docs/Fervo_Project_Cape-4_v2025-08-11.md#case-study-500-mwe-egs-project-modeled-on-fervo-cape-station) + +--- + +## References + +Akindipe, D. and Witter. E. (2025). "2025 Geothermal Drilling Cost Curves +Update". https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2025/Akindipe.pdf?t=1740084555 + +Baytex Energy. (2024). Eagle Ford Presentation. +https://www.baytexenergy.com/content/uploads/2024/04/24-04-Baytex-Eagle-Ford-Presentation.pdf + +Beckers, K., McCabe, K. (2019) GEOPHIRES v2.0: updated geothermal techno-economic simulation tool. Geotherm Energy +7,5. https://doi.org/10.1186/s40517-019-0119-6 + +Fercho, S., Matson, G., McConville, E., Rhodes, G., Jordan, R., Norbeck, J.. (2024, February 12). +Geology, Temperature, Geophysics, Stress Orientations, and Natural Fracturing in the Milford +Valley, UT Informed by the Drilling Results of the First Horizontal Wells at the Cape Modern +Geothermal Project. https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf + +Fercho, S., Norbeck, J., Dadi, S., Matson, G., Borell, J., McConville, E., Webb, S., Bowie, C., & Rhodes, G. (2025). +Update on the geology, temperature, fracturing, and resource potential at the Cape Geothermal Project informed by data +acquired from the drilling of additional horizontal EGS wells. Proceedings of the 50th Workshop on Geothermal Reservoir +Engineering, Stanford University, Stanford, CA. https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2025/Fercho.pdf + +Fervo Energy. (2023, September 19). Fervo’s Commercialization Plans for Enhanced Geothermal Systems ( +EGS). https://egi.utah.edu/wp-content/uploads/2023/09/09.45-Emma-McConville-Fervo_EGI_Sept-19-2023.pdf + +Fervo Energy. (2023, September 25). Fervo Energy Breaks Ground on the World’s Largest Next-gen Geothermal Project. +https://fervoenergy.com/fervo-energy-breaks-ground-on-the-worlds-largest-next-gen-geothermal-project/ + +Fervo Energy. (2024, September 10). Fervo Energy’s Record-Breaking Production Results Showcase Rapid Scale Up of +Enhanced +Geothermal. https://www.businesswire.com/news/home/20240910997008/en/Fervo-Energys-Record-Breaking-Production-Results-Showcase-Rapid-Scale-Up-of-Enhanced-Geothermal + +Fervo Energy. (2025, March 31). Geothermal Mythbusting: Water Use and +Impacts. https://fervoenergy.com/geothermal-mythbusting-water-use-and-impacts/ + +Fervo Energy. (2025, April 15). Fervo Energy Announces 31 MW Power Purchase Agreement with Shell +Energy. https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/ + +Fervo Energy (2025, June 11). Fervo Energy Secures $206 Million In New Financing To Accelerate Cape Station Development. +https://fervoenergy.com/fervo-secures-new-financing-to-accelerate-development/ + +Gradl, C. (2018). Review of Recent Unconventional Completion Innovations and their Applicability to EGS Wells. Stanford +Geothermal Workshop. +https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2018/Gradl.pdf + +Horne, R., Genter, A., McClure, M. et al. (2025) Enhanced geothermal systems for clean firm energy generation. Nat. Rev. +Clean Technol. 1, 148–160. https://doi.org/10.1038/s44359-024-00019-9 + +Jacobs, Trent. (2024, September 16). Fervo and FORGE Report Breakthrough Test Results, Signaling More Progress for +Enhanced +Geothermal. https://jpt.spe.org/fervo-and-forge-report-breakthrough-test-results-signaling-more-progress-for-enhanced-geothermal + +Ko, S., Ghassemi, A., & Uddenberg, M. (2023). Selection and Testing of Proppants for EGS. +Proceedings, 48th Workshop on Geothermal Reservoir Engineering, Stanford University, Stanford, California. +https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2023/Ko.pdf + +Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, +Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal + +Matson, M. (2024, September 11). Fervo Energy Technology Day 2024: Entering "the Geothermal Decade" with Next-Generation +Geothermal +Energy. https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ + +McClure, M. (2024, September 12). Digesting the Bonkers, Incredible, Off-the-Charts, Spectacular Results from the Fervo +and FORGE Enhanced Geothermal Projects. ResFrac Corporation Blog. +https://www.resfrac.com/blog/digesting-the-bonkers-incredible-off-the-charts-spectacular-results-from-the-fervo-and-forge-enhanced-geothermal-projects + +NCEI. US Climate +Normals. https://www.ncei.noaa.gov/access/us-climate-normals/#dataset=normals-annualseasonal&timeframe=30&station=USC00425654 + +NREL. (2024). Annual Technology Baseline: Geothermal (2024). +https://atb.nrel.gov/electricity/2024/geothermal + +NREL. (2025, February 26). Annual Technology Baseline: Geothermal (2024b). +https://atb.nrel.gov/electricity/2024b/geothermal + +Norbeck, J., Gradl, C., Latimer, T. (2024, September 10). Deployment of Enhanced Geothermal System Technology Leads to +Rapid Cost Reductions and Performance Improvements. https://doi.org/10.31223/X5VH8C + +Norbeck J., Latimer T. (2023). Commercial-Scale Demonstration of a First-of-a-Kind Enhanced Geothermal +System. https://doi.org/10.31223/X52X0B + +Quantum Proppant Technologies. (2020). Well Completion Technology. World +Oil. https://quantumprot.com/uploads/images/2b8583e8ce8038681a19d5ad1314e204.pdf + +Shiozawa, S., & McClure, M. (2014). EGS Designs with Horizontal Wells, Multiple Stages, and Proppant. ResFrac. +https://www.resfrac.com/wp-content/uploads/2024/07/Shiozawa.pdf + +Southern Utah University. (2024, October 23). Fervo Energy, Southern Utah University, and Elemental Impact Launch +Geothermal Drilling & Completions Apprenticeship Program. +https://www.suu.edu/news/2024/10/geothermal-energy-joint-campaign.html + +Turboden. (2025, October 2). Turboden selected to deliver 180 MW of Fervo’s Gen 2 ORC Power Plants at Cape Station in Utah. https://www.turboden.com/company/media/press/press-releases/4881/turboden-selected-to-deliver-180-mw-of-fervos-gen-2-orc-power-plants-at-cape-station-in-utah + +US DOE. (2021). Combined Heat and Power Technology Fact Sheet Series: Waste Heat to +Power. https://betterbuildingssolutioncenter.energy.gov/sites/default/files/attachments/Waste_Heat_to_Power_Fact_Sheet.pdf + +Yusifov, M., & Enriquez, N. (2025, July). From Core to Code: Powering the Al Revolution with Geothermal Energy. +Project InnerSpace. https://projectinnerspace.org/resources/Powering-the-AI-Revolution.pdf diff --git a/docs/Fervo_Project_Cape-4.md b/docs/Fervo_Project_Cape-4_v2025-08-11.md similarity index 97% rename from docs/Fervo_Project_Cape-4.md rename to docs/Fervo_Project_Cape-4_v2025-08-11.md index 4c0c3f8ea..9ab34ff93 100644 --- a/docs/Fervo_Project_Cape-4.md +++ b/docs/Fervo_Project_Cape-4_v2025-08-11.md @@ -1,6 +1,11 @@ -# Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station +# [v2025-08-11] Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station -The GEOPHIRES example `Fervo_Project_Cape-4` is a case study of a 500 MWe EGS Project modeled +**⚠️ This is a previous version of the case study. The case study has been updated since the release of this version.** +[Click here](https://github.com/NREL/GEOPHIRES-X/blob/main/docs/Fervo_Project_Cape-4.md#case-study-500-mwe-egs-project-modeled-on-fervo-cape-station) to find the latest version. + +--- + +The GEOPHIRES example `Fervo_Project_Cape-4_vv2025-08-11` is a case study of a 500 MWe EGS Project modeled on Fervo Cape Station with its April 2025-announced [upsizing from 400 MW to 500 MW](https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/). Case study inputs are formulated using a combination of publicly available data, extrapolations, and estimates. @@ -10,7 +15,7 @@ the [SAM Single Owner PPA Economic Model](https://softwareengineerprogrammer.git Key case study results include LCOE = $81.1/MWh and CAPEX = $5000/kW. -[Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4) to +[Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4_v2025-02-24) to interactively explore the case study in the GEOPHIRES web interface. ## Approach & Methodology @@ -36,7 +41,7 @@ the [web interface](https://gtp.scientificwebservices.com/geophires/?geophires-e ## Inputs -See [Fervo_Project_Cape-4.txt](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4.txt) +See [Fervo_Project_Cape-4_v2025-08-11.txt](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4_v2025-08-11.txt) in source code for the full set of inputs. ### Economic Parameters @@ -76,7 +81,7 @@ in source code for the full set of inputs. ## Results -See [Fervo_Project_Cape-4.out](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4.out) +See [Fervo_Project_Cape-4_v2025-08-11.out](https://github.com/softwareengineerprogrammer/GEOPHIRES/blob/main/tests/examples/Fervo_Project_Cape-4_v2025-08-11.out) in source code for the complete results. ### Economic Results diff --git a/docs/GEOPHIRES-Examples.md b/docs/GEOPHIRES-Examples.md index 02ac82876..e3b33bba8 100644 --- a/docs/GEOPHIRES-Examples.md +++ b/docs/GEOPHIRES-Examples.md @@ -7,4 +7,4 @@ or in the [web interface](https://gtp.scientificwebservices.com/geophires) under ## Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station -See [Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station](Fervo_Project_Cape-4.html). +See documentation: [Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station](Fervo_Project_Cape-4.html). diff --git a/docs/Monte-Carlo-User-Guide.md b/docs/Monte-Carlo-User-Guide.md index 816de8c76..54dc6b61e 100644 --- a/docs/Monte-Carlo-User-Guide.md +++ b/docs/Monte-Carlo-User-Guide.md @@ -1,4 +1,4 @@ -# GEOPHIRES Monte Carlo User Guide +# Monte Carlo User Guide ## Example Setup diff --git a/docs/SAM-Economic-Models.md b/docs/SAM-Economic-Models.md index b71470518..37439764f 100644 --- a/docs/SAM-Economic-Models.md +++ b/docs/SAM-Economic-Models.md @@ -123,7 +123,7 @@ Output Parameters: [Web interface link](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4) -See [Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station](Fervo_Project_Cape-4.html). +Documentation: [Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station](Fervo_Project_Cape-4.html). ### SAM Single Owner PPA diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.png b/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.png new file mode 100644 index 000000000..e692f4852 Binary files /dev/null and b/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.png differ diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.svg b/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.svg new file mode 100644 index 000000000..c4aa154bc --- /dev/null +++ b/docs/_images/fervo_project_cape-4-sensitivity-analysis-irr.svg @@ -0,0 +1,2970 @@ + + + + + + + + 2026-01-06T09:23:36.880348 + image/svg+xml + + + Matplotlib v3.10.8, https://matplotlib.org/ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.png b/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.png new file mode 100644 index 000000000..0af6c5067 Binary files /dev/null and b/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.png differ diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.svg b/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.svg new file mode 100644 index 000000000..02fc92d8a --- /dev/null +++ b/docs/_images/fervo_project_cape-4-sensitivity-analysis-lcoe.svg @@ -0,0 +1,3153 @@ + + + + + + + + 2026-01-06T09:23:37.855751 + image/svg+xml + + + Matplotlib v3.10.8, https://matplotlib.org/ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.png b/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.png new file mode 100644 index 000000000..230a09566 Binary files /dev/null and b/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.png differ diff --git a/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.svg b/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.svg new file mode 100644 index 000000000..b986bfc0c --- /dev/null +++ b/docs/_images/fervo_project_cape-4-sensitivity-analysis-project_npv.svg @@ -0,0 +1,3299 @@ + + + + + + + + 2026-01-06T09:23:38.311060 + image/svg+xml + + + Matplotlib v3.10.8, https://matplotlib.org/ + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + + diff --git a/docs/conf.py b/docs/conf.py index 26674a995..011468e17 100644 --- a/docs/conf.py +++ b/docs/conf.py @@ -18,7 +18,7 @@ year = '2025' author = 'NREL' copyright = f'{year}, {author}' -version = release = '3.10.24' +version = release = '3.10.25' pygments_style = 'trac' templates_path = ['./templates'] diff --git a/docs/generate_fervo_project_cape_4_md.py b/docs/generate_fervo_project_cape_4_md.py new file mode 100755 index 000000000..eee3aad33 --- /dev/null +++ b/docs/generate_fervo_project_cape_4_md.py @@ -0,0 +1,233 @@ +#!python +""" +Script to generate Fervo_Project_Cape-4.md from its jinja template. +This ensures the markdown documentation stays in sync with actual GEOPHIRES results. +""" + +from __future__ import annotations + +import sys +from pathlib import Path +from typing import Any + +from jinja2 import Environment +from jinja2 import FileSystemLoader +from pint.facets.plain import PlainQuantity + +from geophires_x.GeoPHIRESUtils import sig_figs +from geophires_x_client import GeophiresInputParameters +from geophires_x_client import GeophiresXResult +from geophires_x_client import ImmutableGeophiresInputParameters + +# Add project root to path to import GEOPHIRES modules +project_root = Path(__file__).parent.parent +sys.path.insert(0, str(project_root / 'src')) + + +def get_input_parameter_values(input_params: GeophiresInputParameters, result: GeophiresXResult) -> dict[str, Any]: + print('Extracting input parameter values...') + + def get_input_parameters( + params: GeophiresInputParameters, include_parameter_comments: bool = False, include_line_comments: bool = False + ) -> dict[str, Any]: + comment_idx = 0 + ret: dict[str, Any] = {} + for line in params.as_text().split('\n'): + parts = line.strip().split(', ') # TODO generalize for array-type params + field = parts[0].strip() + if len(parts) >= 2 and not field.startswith('#'): + fieldValue = parts[1].strip() + if include_parameter_comments and len(parts) > 2: + fieldValue += ', ' + (', '.join(parts[2:])).strip() + ret[field] = fieldValue.strip() + + if include_line_comments and field.startswith('#'): + ret[f'_COMMENT-{comment_idx}'] = line.strip() + comment_idx += 1 + + # TODO preserve newlines + + return ret + + params = get_input_parameters(input_params) + r: dict[str, dict[str, Any]] = result.result + + exploration_cost_musd = _q(r['CAPITAL COSTS (M$)']['Exploration costs']).to('MUSD').magnitude + assert exploration_cost_musd == float( + params['Exploration Capital Cost'] + ), 'Exploration cost mismatch between parameters and result' + + return { + 'starting_ppa_price_cents_per_kwh': PlainQuantity(float(params['Starting Electricity Sale Price']), 'USD / kWh') + .to('cents / kWh') + .magnitude, + 'year_10_ppa_price_cents_per_kwh': 10, # TODO read from result cash flow table + 'construction_yrs': params['Construction Years'], + 'exploration_cost_musd': round(sig_figs(exploration_cost_musd, 2)), + 'plant_lifetime_yrs': params['Plant Lifetime'], + 'wacc_pct': sig_figs(r['ECONOMIC PARAMETERS']['WACC']['value'], 3), + 'gradient_1_degc_per_km': params['Gradient 1'], + 'flowrate_kg_per_sec_per_well': round( + _q(r['SUMMARY OF RESULTS']['Flowrate per production well']).to('kg / sec').magnitude + ), + 'injection_temperature_degc': params['Injection Temperature'], + 'fracture_separation_m': sig_figs(float(params['Fracture Separation']), 2), + 'fracture_height_m': params['Fracture Height'], + 'productivity_index_kg_per_sec_per_bar': params['Productivity Index'], + 'number_of_doublets': params['Number of Doublets'], + 'reservoir_volume_m3': f"{r['RESERVOIR PARAMETERS']['Reservoir volume']['value']:,}", + 'ambient_temperature_degc': params['Ambient Temperature'], + 'maximum_drawdown_pct': sig_figs(float(params['Maximum Drawdown']) * 100.0, 2), + } + + +def _q(d: dict[str, Any]) -> PlainQuantity: + return PlainQuantity(d['value'], d['unit']) + + +def get_result_values(result: GeophiresXResult) -> dict[str, Any]: + print('Extracting result values...') + + r: dict[str, dict[str, Any]] = result.result + + total_capex_q: PlainQuantity = _q(r['CAPITAL COSTS (M$)']['Total CAPEX']) + + surf_equip_sim = r['SURFACE EQUIPMENT SIMULATION RESULTS'] + min_net_generation_mwe = surf_equip_sim['Minimum Net Electricity Generation']['value'] + avg_net_generation_mwe = surf_equip_sim['Average Net Electricity Generation']['value'] + max_net_generation_mwe = surf_equip_sim['Maximum Net Electricity Generation']['value'] + + total_fracture_surface_area_per_well_m2 = _total_fracture_surface_area_per_well_m2(result) + + occ_q = _q(r['CAPITAL COSTS (M$)']['Overnight Capital Cost']) + + field_gathering_cost_musd = _q(r['CAPITAL COSTS (M$)']['Field gathering system costs']).to('MUSD').magnitude + field_gathering_cost_pct_occ = field_gathering_cost_musd / occ_q.to('MUSD').magnitude * 100.0 + + return { + # Economic Results + 'lcoe_usd_per_mwh': sig_figs( + _q(r['SUMMARY OF RESULTS']['Electricity breakeven price']).to('USD / MWh').magnitude, 3 + ), + 'irr_pct': sig_figs(r['ECONOMIC PARAMETERS']['After-tax IRR']['value'], 3), + 'npv_musd': sig_figs(r['ECONOMIC PARAMETERS']['Project NPV']['value'], 3), + # Capital Costs + 'drilling_costs_musd': round(sig_figs(_drilling_costs_musd(result), 3)), + 'drilling_costs_per_well_musd': sig_figs(_drilling_costs_per_well_musd(result), 3), + 'stim_costs_musd': round(sig_figs(_stim_costs_musd(result), 3)), + 'stim_costs_per_well_musd': sig_figs(_stim_costs_per_well_musd(result), 3), + 'surface_power_plant_costs_gusd': sig_figs( + _q(r['CAPITAL COSTS (M$)']['Surface power plant costs']).to('GUSD').magnitude, 3 + ), + 'field_gathering_cost_musd': round(sig_figs(field_gathering_cost_musd, 3)), + 'field_gathering_cost_pct_occ': round(sig_figs(field_gathering_cost_pct_occ, 1)), + 'occ_gusd': sig_figs(occ_q.to('GUSD').magnitude, 3), + 'total_capex_gusd': sig_figs(total_capex_q.to('GUSD').magnitude, 3), + 'capex_usd_per_kw': round( + sig_figs((total_capex_q / PlainQuantity(max_net_generation_mwe, 'MW')).to('USD / kW').magnitude, 2) + ), + # Technical & Engineering Results + 'bht_temp_degc': r['RESERVOIR PARAMETERS']['Bottom-hole temperature']['value'], + 'min_net_generation_mwe': round(sig_figs(min_net_generation_mwe, 3)), + 'avg_net_generation_mwe': round(sig_figs(avg_net_generation_mwe, 3)), + 'max_net_generation_mwe': round(sig_figs(max_net_generation_mwe, 3)), + 'max_total_generation_mwe': round( + sig_figs(r['SURFACE EQUIPMENT SIMULATION RESULTS']['Maximum Total Electricity Generation']['value'], 3) + ), + 'number_of_times_redrilling': r['ENGINEERING PARAMETERS']['Number of times redrilling']['value'], + 'average_production_temperature_degc': round( + sig_figs(r['RESERVOIR SIMULATION RESULTS']['Average Production Temperature']['value'], 3) + ), + 'total_fracture_surface_area_per_well_mm2': sig_figs(total_fracture_surface_area_per_well_m2 / 1e6, 2), + 'total_fracture_surface_area_per_well_mft2': round( + sig_figs( + PlainQuantity(total_fracture_surface_area_per_well_m2, 'm ** 2').to('foot ** 2').magnitude * 1e-6, 2 + ) + ), + # TODO port all input and result values here instead of hardcoding them in the template + } + + +def _number_of_wells(result: GeophiresXResult) -> int: + r: dict[str, dict[str, Any]] = result.result + + number_of_wells = ( + r['SUMMARY OF RESULTS']['Number of injection wells']['value'] + + r['SUMMARY OF RESULTS']['Number of production wells']['value'] + ) + + return number_of_wells + + +def _drilling_costs_musd(result: GeophiresXResult) -> float: + r: dict[str, dict[str, Any]] = result.result + + return _q(r['CAPITAL COSTS (M$)']['Drilling and completion costs']).to('MUSD').magnitude + + +def _drilling_costs_per_well_musd(result: GeophiresXResult) -> float: + return _drilling_costs_musd(result) / _number_of_wells(result) + + +def _stim_costs_per_well_musd(result: GeophiresXResult) -> float: + stim_costs_per_well_musd = _stim_costs_musd(result) / _number_of_wells(result) + return stim_costs_per_well_musd + + +def _stim_costs_musd(result: GeophiresXResult) -> float: + r: dict[str, dict[str, Any]] = result.result + + stim_costs_musd = _q(r['CAPITAL COSTS (M$)']['Stimulation costs']).to('MUSD').magnitude + return stim_costs_musd + + +def _stim_costs_per_well_musd(result: GeophiresXResult) -> float: + stim_costs_per_well_musd = _stim_costs_musd(result) / _number_of_wells(result) + return stim_costs_per_well_musd + + +def _total_fracture_surface_area_per_well_m2(result: GeophiresXResult) -> float: + r: dict[str, dict[str, Any]] = result.result + res_params = r['RESERVOIR PARAMETERS'] + return ( + _q(res_params['Fracture area']).to('m ** 2').magnitude + * res_params['Number of fractures']['value'] + / _number_of_wells(result) + ) + + +def main(): + """ + Generate Fervo_Project_Cape-4.md (markdown documentation) from the Jinja template. + """ + + input_params: GeophiresInputParameters = ImmutableGeophiresInputParameters( + from_file_path=project_root / 'tests/examples/Fervo_Project_Cape-4.txt' + ) + result = GeophiresXResult(project_root / 'tests/examples/Fervo_Project_Cape-4.out') + + template_values = get_input_parameter_values(input_params, result) + template_values = {**template_values, **get_result_values(result)} + + # Set up Jinja environment + docs_dir = project_root / 'docs' + env = Environment(loader=FileSystemLoader(docs_dir), autoescape=True) + template = env.get_template('Fervo_Project_Cape-4.md.jinja') + + # Render template + print('Rendering template...') + output = template.render(**template_values) + + # Write output + output_file = docs_dir / 'Fervo_Project_Cape-4.md' + output_file.write_text(output, encoding='utf-8') + + print(f'✓ Generated {output_file}') + print('\nKey results:') + print(f"\tLCOE: ${template_values['lcoe_usd_per_mwh']}/MWh") + print(f"\tIRR: {template_values['irr_pct']}%") + print(f"\tTotal CAPEX: ${template_values['total_capex_gusd']}B") + + +if __name__ == '__main__': + main() diff --git a/docs/index.rst b/docs/index.rst index b145a94c3..5461acb6a 100644 --- a/docs/index.rst +++ b/docs/index.rst @@ -8,8 +8,8 @@ Contents overview Theoretical-Basis-for-GEOPHIRES GEOPHIRES-Examples - Monte-Carlo-User-Guide SAM-Economic-Models + Monte-Carlo-User-Guide How-to-extend-GEOPHIRES-X .. toctree:: diff --git a/docs/requirements.txt b/docs/requirements.txt index 1b8df5e70..0f4a325d8 100644 --- a/docs/requirements.txt +++ b/docs/requirements.txt @@ -1,3 +1,4 @@ sphinx>=1.3 sphinx-py3doc-enhanced-theme m2r2 +Jinja2 diff --git a/docs/templates/layout.html b/docs/templates/layout.html index 681f7aefb..c80461711 100644 --- a/docs/templates/layout.html +++ b/docs/templates/layout.html @@ -25,5 +25,28 @@ /* Hide goofy-looking "Fork me on GitHub" badge */ display: none; } + + /* Show interactive SVG on screen, hide print version */ + @media screen { + .sensitivity-chart-interactive { + display: block; + width: 100%; + } + .sensitivity-chart-print { + display: none; + } + } + + /* Show print version when printing, hide interactive SVG */ + @media print { + .sensitivity-chart-interactive { + display: none; + } + .sensitivity-chart-print { + display: block; + width: 100%; + max-width: 100%; + } + } {% endblock %} diff --git a/docs/watch_docs.py b/docs/watch_docs.py index 130ef909e..473dfd23c 100755 --- a/docs/watch_docs.py +++ b/docs/watch_docs.py @@ -1,5 +1,9 @@ #!python +# Automatically rebuilds docs locally when changes are detected. +# Usage, from the project root: +# ./docs/watch_docs.py + import os import subprocess import time @@ -58,6 +62,7 @@ def main(): if current_states != last_states: print('\n[Change Detected] Running docs build...') + time.sleep(1) try: # Run tox from the project root so it finds tox.ini @@ -67,6 +72,7 @@ def main(): except Exception as e: print(f'An error occurred: {e}') + print(f"\nDocs rebuild complete at {time.strftime('%Y-%m-%d %H:%M:%S')}.") print(f"\nWaiting for further changes in '{watch_dir}'...") # Update state to the current state diff --git a/setup.py b/setup.py index 7aa1b7fe8..ff1b24c85 100755 --- a/setup.py +++ b/setup.py @@ -13,7 +13,7 @@ def read(*names, **kwargs): setup( name='geophires-x', - version='3.10.24', + version='3.10.25', license='MIT', description='GEOPHIRES is a free and open-source geothermal techno-economic simulator.', long_description='{}\n{}'.format( diff --git a/src/geophires_x/WellBores.py b/src/geophires_x/WellBores.py index 9e6e9249e..c4cddeb07 100644 --- a/src/geophires_x/WellBores.py +++ b/src/geophires_x/WellBores.py @@ -740,6 +740,18 @@ def __init__(self, model: Model): ToolTipText="Pass this parameter to set the Number of Production Wells and Number of Injection Wells to " "same value." ) + # noinspection SpellCheckingInspection + self.ninj_per_production_well = self.ParameterDict[self.ninj_per_production_well.Name] = floatParameter( + "Number of Injection Wells per Production Well", + DefaultValue=1, + Min=0, + Max=max_doublets-1, + UnitType=Units.NONE, + Required=False, + ToolTipText="Number of (identical) injection wells per production well. " + "For example, provide 0.666 to specify a 3:2 production:injection well ratio. " + "The number of injection wells will be rounded up to the nearest integer." + ) # noinspection SpellCheckingInspection self.prodwelldiam = self.ParameterDict[self.prodwelldiam.Name] = floatParameter( @@ -1361,20 +1373,35 @@ def read_parameters(self, model: Model) -> None: coerce_int_params_to_enum_values(self.ParameterDict) - if self.doublets_count.Provided: - def _error(num_wells_param_:intParameter): - msg = f'{num_wells_param_.Name} may not be provided when {self.doublets_count.Name} is provided.' - model.logger.error(msg) - raise ValueError(msg) + self._set_well_counts_from_parameters(model) + + model.logger.info(f"read parameters complete {self.__class__.__name__}: {__name__}") + + def _set_well_counts_from_parameters(self, model: Model): + mutually_exclusive_well_count_params = [self.doublets_count, self.ninj_per_production_well] + provided_well_count_params = [it for it in mutually_exclusive_well_count_params if it.Provided] + if len(provided_well_count_params) > 1: + raise ValueError(f'Only one of [{", ".join([it.Name for it in mutually_exclusive_well_count_params])}] ' + f'may be provided.') + + def _raise_incompatible_param_error(incompatible_param: intParameter, with_param: intParameter): + msg = f'{incompatible_param.Name} may not be provided when {with_param.Name} is provided.' + model.logger.error(msg) + raise ValueError(msg) + if self.doublets_count.Provided: for num_wells_param in [self.ninj, self.nprod]: if num_wells_param.Provided: - _error(num_wells_param) + _raise_incompatible_param_error(num_wells_param, self.doublets_count) self.ninj.value = self.doublets_count.value self.nprod.value = self.doublets_count.value - model.logger.info(f"read parameters complete {self.__class__.__name__}: {__name__}") + if self.ninj_per_production_well.Provided: + if self.ninj.Provided: + _raise_incompatible_param_error(self.ninj, self.ninj_per_production_well) + + self.ninj.value = int(math.ceil(self.nprod.value * self.ninj_per_production_well.value)) def Calculate(self, model: Model) -> None: """ diff --git a/src/geophires_x/__init__.py b/src/geophires_x/__init__.py index 8a9ccd93e..891f6ea2f 100644 --- a/src/geophires_x/__init__.py +++ b/src/geophires_x/__init__.py @@ -1 +1 @@ -__version__ = '3.10.24' +__version__ = '3.10.25' diff --git a/src/geophires_x_schema_generator/geophires-request.json b/src/geophires_x_schema_generator/geophires-request.json index be86aef39..2a83bd355 100644 --- a/src/geophires_x_schema_generator/geophires-request.json +++ b/src/geophires_x_schema_generator/geophires-request.json @@ -664,6 +664,15 @@ "minimum": 0, "maximum": 200 }, + "Number of Injection Wells per Production Well": { + "description": "Number of (identical) injection wells per production well. For example, provide 0.666 to specify a 3:2 production:injection well ratio. The number of injection wells will be rounded up to the nearest integer.", + "type": "number", + "units": null, + "category": "Well Bores", + "default": 1, + "minimum": 0, + "maximum": 199 + }, "Production Well Diameter": { "description": "Inner diameter of production wellbore (assumed constant along the wellbore) to calculate frictional pressure drop and wellbore heat transmission with Rameys model", "type": "number", diff --git a/tests/.gitignore b/tests/.gitignore index dd02483df..83ec4ce7b 100644 --- a/tests/.gitignore +++ b/tests/.gitignore @@ -1,3 +1,5 @@ +*.env + HIP.out *.log MC_*Result.json diff --git a/tests/examples/Fervo_Project_Cape-4.out b/tests/examples/Fervo_Project_Cape-4.out index e85f55118..96e0e2ede 100644 --- a/tests/examples/Fervo_Project_Cape-4.out +++ b/tests/examples/Fervo_Project_Cape-4.out @@ -4,53 +4,53 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.10.22 - Simulation Date: 2025-12-15 - Simulation Time: 09:15 - Calculation Time: 1.777 sec + GEOPHIRES Version: 3.10.24 + Simulation Date: 2026-01-06 + Simulation Time: 09:20 + Calculation Time: 1.751 sec ***SUMMARY OF RESULTS*** End-Use Option: Electricity - Average Net Electricity Production: 532.53 MW - Electricity breakeven price: 8.11 cents/kWh - Total CAPEX: 2660.87 MUSD - Number of production wells: 59 - Number of injection wells: 59 - Flowrate per production well: 107.0 kg/sec + Average Net Electricity Production: 531.95 MW + Electricity breakeven price: 8.29 cents/kWh + Total CAPEX: 2900.28 MUSD + Number of production wells: 52 + Number of injection wells: 52 + Flowrate per production well: 120.0 kg/sec Well depth: 2.6 kilometer - Geothermal gradient: 74 degC/km + Geothermal gradient: 72.23 degC/km ***ECONOMIC PARAMETERS*** Economic Model = SAM Single Owner PPA Real Discount Rate: 12.00 % - Nominal Discount Rate: 14.58 % - WACC: 8.30 % + Nominal Discount Rate: 15.02 % + WACC: 9.49 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: 483.35 MUSD - After-tax IRR: 27.55 % - Project VIR=PI=PIR: 1.45 - Project MOIC: 4.20 - Project Payback Period: 2.33 yr - Estimated Jobs Created: 1300 + Project NPV: 169.96 MUSD + After-tax IRR: 20.53 % + Project VIR=PI=PIR: 1.24 + Project MOIC: 3.88 + Project Payback Period: 6.31 yr + Estimated Jobs Created: 1248 ***ENGINEERING PARAMETERS*** - Number of Production Wells: 59 - Number of Injection Wells: 59 + Number of Production Wells: 52 + Number of Injection Wells: 52 Well depth: 2.6 kilometer Water loss rate: 15.0 % Pump efficiency: 80.0 % Injection temperature: 56.6 degC Production Wellbore heat transmission calculated with Ramey's model - Average production well temperature drop: 0.6 degC - Flowrate per production well: 107.0 kg/sec - Injection well casing ID: 9.625 in - Production well casing ID: 9.625 in - Number of times redrilling: 3 + Average production well temperature drop: 0.4 degC + Flowrate per production well: 120.0 kg/sec + Injection well casing ID: 8.535 in + Production well casing ID: 8.535 in + Number of times redrilling: 2 Power plant type: Supercritical ORC @@ -58,21 +58,25 @@ Simulation Metadata Maximum reservoir temperature: 500.0 degC Number of segments: 1 - Geothermal gradient: 74 degC/km + Geothermal gradient: 72.23 degC/km ***RESERVOIR PARAMETERS*** Reservoir Model = Multiple Parallel Fractures Model (Gringarten) - Bottom-hole temperature: 201.72 degC - Fracture model = Square - Well separation: fracture height: 165.30 meter - Fracture area: 27324.09 m**2 + Bottom-hole temperature: 200.13 degC + Fracture model = Circular fracture with known diameter + Well separation: fracture diameter: 186.16 meter + Fracture area: 27218.40 m**2 Reservoir volume calculated with fracture separation and number of fractures as input - Number of fractures: 12036 - Fracture separation: 18.00 meter - Reservoir volume: 5919217617 m**3 - Reservoir impedance: 0.0016 GPa.s/m**3 + Number of fractures: 20800 + Fracture separation: 7.32 meter + Reservoir volume: 4141135178 m**3 + Reservoir hydrostatic pressure: 24524.09 kPa + Plant outlet pressure: 6894.76 kPa + Production wellhead pressure: 2240.80 kPa + Productivity Index: 2.49 kg/sec/bar + Injectivity Index: 3.02 kg/sec/bar Reservoir density: 2800.00 kg/m**3 Reservoir thermal conductivity: 3.05 W/m/K Reservoir heat capacity: 790.00 J/kg/K @@ -80,59 +84,57 @@ Simulation Metadata ***RESERVOIR SIMULATION RESULTS*** - Maximum Production Temperature: 199.6 degC - Average Production Temperature: 199.0 degC - Minimum Production Temperature: 195.4 degC - Initial Production Temperature: 198.2 degC - Average Reservoir Heat Extraction: 3761.51 MW + Maximum Production Temperature: 198.5 degC + Average Production Temperature: 198.1 degC + Minimum Production Temperature: 193.8 degC + Initial Production Temperature: 197.2 degC + Average Reservoir Heat Extraction: 3693.44 MW Production Wellbore Heat Transmission Model = Ramey Model - Average Production Well Temperature Drop: 0.6 degC - Total Average Pressure Drop: 8521.8 kPa - Average Injection Well Pressure Drop: 600.9 kPa - Average Reservoir Pressure Drop: 10344.9 kPa - Average Production Well Pressure Drop: 504.2 kPa - Average Buoyancy Pressure Drop: -2928.2 kPa + Average Production Well Temperature Drop: 0.4 degC + Average Injection Well Pump Pressure Drop: -1694.7 kPa + Average Production Well Pump Pressure Drop: 6122.2 kPa ***CAPITAL COSTS (M$)*** - Drilling and completion costs: 467.75 MUSD - Drilling and completion costs per well: 3.96 MUSD - Stimulation costs: 542.80 MUSD - Surface power plant costs: 1504.05 MUSD - Field gathering system costs: 56.44 MUSD - Total surface equipment costs: 1560.49 MUSD + Drilling and completion costs: 463.79 MUSD + Drilling and completion costs per well: 4.46 MUSD + Stimulation costs: 502.32 MUSD + Surface power plant costs: 1441.06 MUSD + Field gathering system costs: 44.25 MUSD + Total surface equipment costs: 1485.32 MUSD Exploration costs: 30.00 MUSD - Overnight Capital Cost: 2601.04 MUSD - Inflation costs during construction: 59.82 MUSD - Total CAPEX: 2660.87 MUSD + Overnight Capital Cost: 2481.42 MUSD + Interest during construction: 115.75 MUSD + Inflation costs during construction: 303.11 MUSD + Total CAPEX: 2900.28 MUSD ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** - Wellfield maintenance costs: 6.20 MUSD/yr - Power plant maintenance costs: 25.43 MUSD/yr - Water costs: 24.86 MUSD/yr - Redrilling costs: 101.05 MUSD/yr - Total operating and maintenance costs: 157.54 MUSD/yr + Wellfield maintenance costs: 6.03 MUSD/yr + Power plant maintenance costs: 24.46 MUSD/yr + Water costs: 24.57 MUSD/yr + Redrilling costs: 64.41 MUSD/yr + Total operating and maintenance costs: 119.47 MUSD/yr ***SURFACE EQUIPMENT SIMULATION RESULTS*** - Initial geofluid availability: 0.19 MW/(kg/s) - Maximum Total Electricity Generation: 614.60 MW - Average Total Electricity Generation: 610.21 MW - Minimum Total Electricity Generation: 583.15 MW - Initial Total Electricity Generation: 604.35 MW - Maximum Net Electricity Generation: 537.14 MW - Average Net Electricity Generation: 532.53 MW - Minimum Net Electricity Generation: 504.44 MW - Initial Net Electricity Generation: 526.63 MW - Average Annual Total Electricity Generation: 4810.97 GWh - Average Annual Net Electricity Generation: 4198.60 GWh - Initial pumping power/net installed power: 14.76 % - Average Pumping Power: 77.67 MW - Heat to Power Conversion Efficiency: 14.16 % + Initial geofluid availability: 0.18 MW/(kg/s) + Maximum Total Electricity Generation: 588.86 MW + Average Total Electricity Generation: 586.10 MW + Minimum Total Electricity Generation: 554.96 MW + Initial Total Electricity Generation: 579.58 MW + Maximum Net Electricity Generation: 534.79 MW + Average Net Electricity Generation: 531.95 MW + Minimum Net Electricity Generation: 500.02 MW + Initial Net Electricity Generation: 525.36 MW + Average Annual Total Electricity Generation: 4620.92 GWh + Average Annual Net Electricity Generation: 4193.96 GWh + Initial pumping power/net installed power: 10.32 % + Average Pumping Power: 54.15 MW + Heat to Power Conversion Efficiency: 14.40 % ************************************************************ * HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * @@ -140,36 +142,36 @@ Simulation Metadata YEAR THERMAL GEOFLUID PUMP NET FIRST LAW DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY (degC) (MW) (MW) (%) - 1 1.0000 198.22 77.7286 526.6263 14.0769 - 2 1.0051 199.24 77.6662 534.3539 14.1818 - 3 1.0061 199.42 77.6547 535.7721 14.2009 - 4 1.0065 199.52 77.6489 536.5044 14.2108 - 5 1.0068 199.57 77.6474 536.9145 14.2163 - 6 1.0067 199.55 77.6626 536.7091 14.2133 - 7 1.0054 199.29 77.7347 534.6638 14.1850 - 8 1.0012 198.47 77.9449 528.2545 14.0960 - 9 0.9919 196.61 78.4108 513.7990 13.8924 - 10 1.0040 199.02 77.6265 532.7400 14.1607 - 11 1.0057 199.35 77.6184 535.2509 14.1944 - 12 1.0063 199.48 77.6077 536.2282 14.2076 - 13 1.0067 199.55 77.5951 536.8041 14.2155 - 14 1.0068 199.58 77.5874 537.0016 14.2182 - 15 1.0063 199.46 77.6101 536.1193 14.2061 - 16 1.0038 198.97 77.7249 532.3053 14.1535 - 17 0.9974 197.70 78.0349 522.3915 14.0153 - 18 1.0000 198.22 77.5160 526.8389 14.0826 - 19 1.0051 199.24 77.5030 534.5170 14.1861 - 20 1.0061 199.42 77.4920 535.9348 14.2052 - 21 1.0065 199.52 77.4831 536.6702 14.2152 - 22 1.0068 199.57 77.4784 537.0835 14.2208 - 23 1.0067 199.55 77.4911 536.8806 14.2179 - 24 1.0054 199.29 77.5620 534.8365 14.1896 - 25 1.0012 198.47 77.7729 528.4265 14.1006 - 26 0.9919 196.61 78.2420 513.9678 13.8970 - 27 1.0040 199.02 77.4599 532.9067 14.1651 - 28 1.0057 199.35 77.4589 535.4103 14.1987 - 29 1.0063 199.48 77.4584 536.3775 14.2116 - 30 1.0067 199.55 77.4587 536.9405 14.2191 + 1 1.0000 197.20 54.2261 525.3557 14.3136 + 2 1.0042 198.03 54.1922 531.4880 14.3958 + 3 1.0050 198.18 54.1859 532.6275 14.4110 + 4 1.0054 198.26 54.1826 533.2204 14.4189 + 5 1.0057 198.32 54.1805 533.6124 14.4241 + 6 1.0059 198.36 54.1788 533.9042 14.4280 + 7 1.0060 198.38 54.1777 534.1228 14.4309 + 8 1.0061 198.41 54.1764 534.3223 14.4336 + 9 1.0062 198.42 54.1770 534.4132 14.4348 + 10 1.0063 198.43 54.1775 534.4917 14.4358 + 11 1.0031 197.82 54.2813 529.8629 14.3730 + 12 0.9882 194.87 54.7668 507.7593 14.0673 + 13 1.0038 197.96 54.1629 530.9929 14.3896 + 14 1.0048 198.16 54.1460 532.4621 14.4094 + 15 1.0053 198.25 54.1230 533.1576 14.4189 + 16 1.0056 198.30 54.1008 533.6066 14.4251 + 17 1.0058 198.35 54.0849 533.9316 14.4297 + 18 1.0060 198.38 54.0764 534.1681 14.4329 + 19 1.0061 198.41 54.0720 534.4103 14.4362 + 20 1.0061 198.41 54.0743 534.4303 14.4364 + 21 1.0064 198.46 54.0696 534.7806 14.4411 + 22 1.0045 198.08 54.1355 531.9364 14.4025 + 23 0.9942 196.05 54.4754 516.6718 14.1930 + 24 1.0033 197.85 54.0720 530.2817 14.3814 + 25 1.0047 198.12 54.0721 532.2917 14.4081 + 26 1.0052 198.23 54.0722 533.0718 14.4185 + 27 1.0055 198.29 54.0724 533.5423 14.4247 + 28 1.0058 198.34 54.0725 533.8734 14.4291 + 29 1.0059 198.37 54.0727 534.1222 14.4323 + 30 1.0061 198.40 54.0721 534.3613 14.4355 ******************************************************************* @@ -178,273 +180,273 @@ Simulation Metadata YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED (GWh/year) (GWh/year) (10^15 J) (%) - 1 4192.9 29636.9 1793.40 5.62 - 2 4219.2 29728.1 1686.38 11.25 - 3 4227.2 29755.6 1579.26 16.89 - 4 4231.6 29771.1 1472.08 22.53 - 5 4232.9 29775.6 1364.89 28.17 - 6 4225.2 29749.9 1257.79 33.80 - 7 4194.0 29644.4 1151.07 39.42 - 8 4114.4 29374.5 1045.32 44.99 - 9 4101.4 29325.8 939.75 50.54 - 10 4212.2 29702.5 832.82 56.17 - 11 4224.2 29744.1 725.74 61.80 - 12 4230.1 29764.4 618.59 67.44 - 13 4233.3 29775.3 511.40 73.09 - 14 4231.4 29768.8 404.23 78.73 - 15 4214.5 29711.6 297.27 84.36 - 16 4162.9 29536.5 190.94 89.95 - 17 4055.6 29171.2 85.92 95.48 - 18 4194.3 29636.9 -20.77 101.09 - 19 4220.5 29728.1 -127.79 106.73 - 20 4228.5 29755.6 -234.91 112.36 - 21 4233.0 29771.1 -342.09 118.00 - 22 4234.2 29775.6 -449.28 123.65 - 23 4226.6 29749.9 -556.38 129.28 - 24 4195.3 29644.4 -663.10 134.90 - 25 4115.7 29374.5 -768.85 140.46 - 26 4102.7 29325.8 -874.42 146.02 - 27 4213.5 29702.5 -981.35 151.65 - 28 4225.4 29744.1 -1088.43 157.28 - 29 4231.2 29764.4 -1195.58 162.92 - 30 4234.3 29775.2 -1302.77 168.56 + 1 4174.4 29051.5 1210.21 7.95 + 2 4195.4 29125.5 1105.36 15.93 + 3 4201.8 29148.0 1000.42 23.91 + 4 4205.5 29161.3 895.44 31.89 + 5 4208.2 29170.6 790.43 39.88 + 6 4210.2 29177.6 685.39 47.87 + 7 4212.0 29184.0 580.33 55.86 + 8 4212.6 29186.2 475.26 63.85 + 9 4214.7 29193.6 370.16 71.85 + 10 4200.9 29145.7 265.24 79.83 + 11 4110.9 28833.2 161.44 87.72 + 12 4126.6 28884.4 57.45 95.63 + 13 4193.1 29116.5 -47.37 103.60 + 14 4200.9 29143.6 -152.28 111.58 + 15 4205.3 29158.5 -257.25 119.57 + 16 4208.3 29168.5 -362.26 127.55 + 17 4210.5 29176.1 -467.29 135.54 + 18 4212.4 29182.4 -572.35 143.53 + 19 4213.3 29185.8 -677.42 151.52 + 20 4215.1 29191.9 -782.51 159.52 + 21 4209.0 29170.9 -887.53 167.50 + 22 4148.2 28960.2 -991.78 175.43 + 23 4091.5 28760.0 -1095.32 183.31 + 24 4190.4 29104.6 -1200.10 191.28 + 25 4200.0 29138.5 -1305.00 199.25 + 26 4204.7 29155.3 -1409.95 207.24 + 27 4207.8 29166.3 -1514.95 215.22 + 28 4210.1 29174.4 -1619.98 223.21 + 29 4211.9 29180.7 -1725.03 231.20 + 30 4213.3 29185.7 -1830.10 239.19 *************************** * SAM CASH FLOW PROFILE * *************************** -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- - Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + Year -4 Year -3 Year -2 Year -1 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 CONSTRUCTION -Capital expenditure schedule [construction] (%) 100.0 -Overnight capital expenditure [construction] ($) -2,601,042,401 +Capital expenditure schedule [construction] (%) 1.40 2.70 13.70 27.40 54.80 +Overnight capital expenditure [construction] ($) -34,739,893 -66,998,365 -339,954,668 -679,909,336 -1,359,818,671 plus: -Inflation cost [construction] ($) -59,823,975 +Inflation cost [construction] ($) -937,977 -3,666,754 -28,286,500 -76,458,024 -193,759,885 equals: -Nominal capital expenditure [construction] ($) -2,660,866,376 +Nominal capital expenditure [construction] ($) -35,677,870 -70,665,119 -368,241,168 -756,367,359 -1,553,578,556 -Issuance of equity [construction] ($) 1,064,346,550 -Issuance of debt [construction] ($) 1,596,519,826 -Debt balance [construction] ($) 1,596,519,826 -Debt interest payment [construction] ($) 0 +Issuance of equity [construction] ($) 14,271,148 28,266,047 147,296,467 302,546,944 621,431,422 +Issuance of debt [construction] ($) 21,406,722 42,399,071 220,944,701 453,820,416 932,147,133 +Debt balance [construction] ($) 21,406,722 65,946,466 293,485,813 776,654,810 1,786,467,424 +Debt interest payment [construction] ($) 0 2,140,672 6,594,647 29,348,581 77,665,481 -Installed cost [construction] ($) -2,660,866,376 -After-tax net cash flow [construction] ($) -1,064,346,550 +Installed cost [construction] ($) -35,677,870 -72,805,791 -374,835,815 -785,715,940 -1,631,244,037 +After-tax net cash flow [construction] ($) -14,271,148 -28,266,047 -147,296,467 -302,546,944 -621,431,422 ENERGY -Electricity to grid (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 -Electricity from grid (kWh) 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 0.0 0.0 0.0 -Electricity to grid net (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 +Electricity to grid (kWh) 0.0 4,175,053,287 4,196,048,942 4,202,445,447 4,206,228,304 4,208,879,003 4,210,861,909 4,212,673,290 4,213,294,803 4,215,411,003 4,201,560,283 4,111,561,888 4,127,313,666 4,193,786,136 4,201,593,759 4,205,975,308 4,208,977,726 4,211,199,738 4,213,047,288 4,214,020,721 4,215,760,090 4,209,660,783 4,148,850,677 4,092,139,300 4,191,081,013 4,200,660,165 4,205,401,615 4,208,503,557 4,210,789,188 4,212,583,291 4,213,972,647 +Electricity from grid (kWh) 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 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 4,175,053,287 4,196,048,942 4,202,445,447 4,206,228,304 4,208,879,003 4,210,861,909 4,212,673,290 4,213,294,803 4,215,411,003 4,201,560,283 4,111,561,888 4,127,313,666 4,193,786,136 4,201,593,759 4,205,975,308 4,208,977,726 4,211,199,738 4,213,047,288 4,214,020,721 4,215,760,090 4,209,660,783 4,148,850,677 4,092,139,300 4,191,081,013 4,200,660,165 4,205,401,615 4,208,503,557 4,210,789,188 4,212,583,291 4,213,972,647 REVENUE -PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10 -PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 -Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Capacity payment revenue ($) 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 -Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,330,433,188 -Total revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 1,800,309,896 +PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10 +PPA revenue ($) 0 396,630,062 398,624,650 401,627,711 404,386,789 407,040,688 409,632,646 412,210,081 414,672,474 417,283,535 418,307,342 411,690,692 415,620,486 424,704,722 427,890,308 430,733,931 433,440,526 436,069,733 438,662,484 441,165,829 443,750,907 445,508,401 441,437,712 437,736,141 450,708,852 454,133,370 457,043,047 459,779,014 462,428,869 465,027,070 467,582,405 +Curtailment payment revenue ($) 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 +Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Salvage value ($) 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 1,450,139,726 +Total revenue ($) 0 396,630,062 398,624,650 401,627,711 404,386,789 407,040,688 409,632,646 412,210,081 414,672,474 417,283,535 418,307,342 411,690,692 415,620,486 424,704,722 427,890,308 430,733,931 433,440,526 436,069,733 438,662,484 441,165,829 443,750,907 445,508,401 441,437,712 437,736,141 450,708,852 454,133,370 457,043,047 459,779,014 462,428,869 465,027,070 1,917,722,131 -Property tax net assessed value ($) 0 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 +Property tax net assessed value ($) 0 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 2,900,279,453 OPERATING EXPENSES -O&M fixed expense ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 -O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -O&M capacity-based expense ($) 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 -Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Electricity purchase ($) 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 -Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Insurance expense ($) 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 -Total operating expenses ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 +O&M fixed expense ($) 0 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 119,474,882 +O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +O&M capacity-based expense ($) 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 +Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Electricity purchase ($) 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 +Property tax expense ($) 0 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 6,380,615 +Insurance expense ($) 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 +Total operating expenses ($) 0 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 125,855,497 -EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +EBITDA ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 OPERATING ACTIVITIES -EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 plus PBI if not available for debt service: -Federal PBI income ($) 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 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 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 -Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 -Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 142,917,394 141,655,800 140,293,279 138,821,756 137,232,511 135,516,127 133,662,432 131,660,441 129,498,291 127,163,169 124,641,237 121,917,551 118,975,969 115,799,062 112,368,001 108,662,456 104,660,467 100,338,319 95,670,400 90,629,046 85,184,385 79,304,150 72,953,497 66,094,791 58,687,389 50,687,395 42,047,402 32,716,208 22,638,520 11,754,616 +Cash flow from operating activities ($) 0 127,857,172 131,113,353 135,478,936 139,709,537 143,952,681 148,261,023 152,692,153 157,156,537 161,929,748 165,288,676 161,193,958 167,847,439 179,873,256 186,235,750 192,510,433 198,922,574 205,553,769 212,468,668 219,639,933 227,266,364 234,468,519 236,278,065 238,927,147 258,758,564 269,590,484 280,500,156 291,876,115 303,857,164 316,533,053 1,780,112,019 INVESTING ACTIVITIES -Total installed cost ($) -2,660,866,376 -Debt closing costs ($) 0 -Debt up-front fee ($) 0 +Total installed cost ($) -2,900,279,453 +Debt closing costs ($) 0 +Debt up-front fee ($) 0 minus: -Total IBI income ($) 0 -Total CBI income ($) 0 +Total IBI income ($) 0 +Total CBI income ($) 0 equals: -Purchase of property ($) -2,660,866,376 +Purchase of property ($) -2,900,279,453 plus: -Reserve (increase)/decrease debt service ($) 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 -Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease receivables ($) 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 -Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve (increase)/decrease major equipment 2 ($) 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 -Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 1 ($) 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 -Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserve capital spending major equipment 3 ($) 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 +Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease working capital ($) 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 +Reserve (increase)/decrease receivables ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 1 ($) 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 +Reserve (increase)/decrease major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 3 ($) 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 +Reserve capital spending major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 2 ($) 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 +Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash flow from investing activities ($) -2,660,866,376 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 +Cash flow from investing activities ($) -2,900,279,453 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FINANCING ACTIVITIES -Issuance of equity ($) 1,064,346,550 -Size of debt ($) 1,596,519,826 +Issuance of equity ($) 1,113,812,029 +Size of debt ($) 1,786,467,424 minus: -Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 +Debt principal payment ($) 0 15,769,922 17,031,516 18,394,037 19,865,560 21,454,805 23,171,189 25,024,885 27,026,875 29,189,025 31,524,147 34,046,079 36,769,766 39,711,347 42,888,255 46,319,315 50,024,860 54,026,849 58,348,997 63,016,917 68,058,270 73,502,931 79,383,166 85,733,819 92,592,525 99,999,927 107,999,921 116,639,915 125,971,108 136,048,796 146,932,700 equals: -Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 +Cash flow from financing activities ($) 2,900,279,453 -15,769,922 -17,031,516 -18,394,037 -19,865,560 -21,454,805 -23,171,189 -25,024,885 -27,026,875 -29,189,025 -31,524,147 -34,046,079 -36,769,766 -39,711,347 -42,888,255 -46,319,315 -50,024,860 -54,026,849 -58,348,997 -63,016,917 -68,058,270 -73,502,931 -79,383,166 -85,733,819 -92,592,525 -99,999,927 -107,999,921 -116,639,915 -125,971,108 -136,048,796 -146,932,700 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 -Cash flow from investing activities ($) -2,660,866,376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 -Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Cash flow from operating activities ($) 0 127,857,172 131,113,353 135,478,936 139,709,537 143,952,681 148,261,023 152,692,153 157,156,537 161,929,748 165,288,676 161,193,958 167,847,439 179,873,256 186,235,750 192,510,433 198,922,574 205,553,769 212,468,668 219,639,933 227,266,364 234,468,519 236,278,065 238,927,147 258,758,564 269,590,484 280,500,156 291,876,115 303,857,164 316,533,053 1,780,112,019 +Cash flow from investing activities ($) -2,900,279,453 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 2,900,279,453 -15,769,922 -17,031,516 -18,394,037 -19,865,560 -21,454,805 -23,171,189 -25,024,885 -27,026,875 -29,189,025 -31,524,147 -34,046,079 -36,769,766 -39,711,347 -42,888,255 -46,319,315 -50,024,860 -54,026,849 -58,348,997 -63,016,917 -68,058,270 -73,502,931 -79,383,166 -85,733,819 -92,592,525 -99,999,927 -107,999,921 -116,639,915 -125,971,108 -136,048,796 -146,932,700 +Total pre-tax cash flow ($) 0 112,087,250 114,081,837 117,084,899 119,843,976 122,497,876 125,089,834 127,667,269 130,129,662 132,740,722 133,764,529 127,147,879 131,077,673 140,161,909 143,347,496 146,191,118 148,897,713 151,526,920 154,119,671 156,623,016 159,208,094 160,965,588 156,894,899 153,193,328 166,166,039 169,590,558 172,500,235 175,236,201 177,886,056 180,484,257 1,633,179,319 Pre-tax Returns: -Issuance of equity ($) 1,064,346,550 -Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 -Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Issuance of equity ($) 1,113,812,029 +Total pre-tax cash flow ($) 0 112,087,250 114,081,837 117,084,899 119,843,976 122,497,876 125,089,834 127,667,269 130,129,662 132,740,722 133,764,529 127,147,879 131,077,673 140,161,909 143,347,496 146,191,118 148,897,713 151,526,920 154,119,671 156,623,016 159,208,094 160,965,588 156,894,899 153,193,328 166,166,039 169,590,558 172,500,235 175,236,201 177,886,056 180,484,257 1,633,179,319 +Total pre-tax returns ($) -1,113,812,029 112,087,250 114,081,837 117,084,899 119,843,976 122,497,876 125,089,834 127,667,269 130,129,662 132,740,722 133,764,529 127,147,879 131,077,673 140,161,909 143,347,496 146,191,118 148,897,713 151,526,920 154,119,671 156,623,016 159,208,094 160,965,588 156,894,899 153,193,328 166,166,039 169,590,558 172,500,235 175,236,201 177,886,056 180,484,257 1,633,179,319 After-tax Returns: -Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 -Federal ITC total income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal PTC income ($) 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 -Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 -State ITC total income ($) 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 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 -Total after-tax returns ($) -1,064,346,550 902,842,830 121,097,763 123,082,690 124,811,004 126,292,727 127,116,866 126,217,632 121,770,976 122,079,444 131,404,893 133,524,258 135,176,596 136,602,262 137,613,009 137,463,025 134,627,892 127,485,460 139,023,528 141,981,439 143,506,316 129,720,834 115,634,823 115,795,735 114,030,354 108,335,718 107,831,906 117,184,960 118,583,135 119,424,446 1,097,437,209 - -After-tax net cash flow ($) -1,064,346,550 902,842,830 121,097,763 123,082,690 124,811,004 126,292,727 127,116,866 126,217,632 121,770,976 122,079,444 131,404,893 133,524,258 135,176,596 136,602,262 137,613,009 137,463,025 134,627,892 127,485,460 139,023,528 141,981,439 143,506,316 129,720,834 115,634,823 115,795,735 114,030,354 108,335,718 107,831,906 117,184,960 118,583,135 119,424,446 1,097,437,209 -After-tax cumulative IRR (%) NaN -15.17 -3.40 5.89 12.37 16.79 19.80 21.87 23.28 24.29 25.09 25.68 26.13 26.46 26.72 26.91 27.06 27.16 27.25 27.32 27.37 27.41 27.44 27.46 27.47 27.49 27.49 27.50 27.51 27.51 27.55 -After-tax cumulative NPV ($) -1,064,346,550 -276,360,558 -184,114,290 -102,283,638 -29,860,348 34,099,889 90,287,587 138,980,351 179,981,359 215,856,998 249,560,495 279,450,773 305,861,334 329,155,135 349,636,000 367,491,872 382,754,754 395,369,209 407,375,324 418,077,007 427,517,570 434,965,626 440,760,290 445,824,812 450,177,652 453,787,012 456,922,551 459,896,566 462,523,206 464,831,958 483,348,931 +Total pre-tax returns ($) -1,113,812,029 112,087,250 114,081,837 117,084,899 119,843,976 122,497,876 125,089,834 127,667,269 130,129,662 132,740,722 133,764,529 127,147,879 131,077,673 140,161,909 143,347,496 146,191,118 148,897,713 151,526,920 154,119,671 156,623,016 159,208,094 160,965,588 156,894,899 153,193,328 166,166,039 169,590,558 172,500,235 175,236,201 177,886,056 180,484,257 1,633,179,319 +Federal ITC total income ($) 0 870,083,836 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 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 +Federal tax benefit (liability) ($) 0 -13,274,717 -1,573,789 -2,448,848 -3,296,851 -4,147,368 -5,010,954 -5,899,152 -6,794,015 -7,750,781 -8,424,062 -7,603,296 -8,936,953 -11,347,468 -12,622,798 -13,880,527 -15,165,808 -16,494,998 -17,881,055 -19,318,499 -20,847,179 -34,644,429 -47,360,757 -47,891,752 -51,866,860 -54,038,065 -56,224,854 -58,505,108 -60,906,649 -63,447,468 -356,814,554 +State ITC total income ($) 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 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -3,013,294 -357,242 -555,876 -748,369 -941,432 -1,137,461 -1,339,078 -1,542,207 -1,759,388 -1,912,219 -1,725,910 -2,028,643 -2,575,818 -2,865,311 -3,150,809 -3,442,562 -3,744,281 -4,058,909 -4,385,202 -4,732,204 -7,864,110 -10,750,652 -10,871,185 -11,773,515 -12,266,367 -12,762,757 -13,280,363 -13,825,501 -14,402,254 -80,995,097 +Total after-tax returns ($) -1,113,812,029 965,883,074 112,150,806 114,080,174 115,798,757 117,409,076 118,941,419 120,429,039 121,793,439 123,230,553 123,428,248 117,818,673 120,112,077 126,238,624 127,859,386 129,159,782 130,289,343 131,287,641 132,179,707 132,919,315 133,628,711 118,457,049 98,783,490 94,430,391 102,525,664 103,286,126 103,512,624 103,450,730 103,153,906 102,634,535 1,195,369,668 + +After-tax net cash flow ($) -14,271,148 -28,266,047 -147,296,467 -302,546,944 -621,431,422 965,883,074 112,150,806 114,080,174 115,798,757 117,409,076 118,941,419 120,429,039 121,793,439 123,230,553 123,428,248 117,818,673 120,112,077 126,238,624 127,859,386 129,159,782 130,289,343 131,287,641 132,179,707 132,919,315 133,628,711 118,457,049 98,783,490 94,430,391 102,525,664 103,286,126 103,512,624 103,450,730 103,153,906 102,634,535 1,195,369,668 +After-tax cumulative IRR (%) NaN NaN NaN NaN NaN -8.37 -1.84 3.53 7.63 10.67 12.93 14.62 15.90 16.88 17.63 18.19 18.63 19.00 19.29 19.53 19.72 19.87 19.99 20.10 20.18 20.24 20.28 20.31 20.34 20.37 20.39 20.40 20.41 20.43 20.53 +After-tax cumulative NPV ($) -14,271,148 -38,845,191 -150,176,008 -348,981,040 -703,990,024 -224,276,211 -175,850,991 -133,026,628 -95,234,950 -61,922,585 -32,583,372 -6,757,316 15,949,817 35,923,968 53,317,030 67,751,044 80,544,009 92,233,304 102,526,263 111,565,805 119,493,366 126,438,267 132,517,076 137,831,465 142,476,368 146,056,089 148,651,369 150,808,236 152,844,131 154,627,235 156,180,835 157,530,702 158,700,888 159,713,106 169,962,410 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -1,064,346,550 504,481,845 -279,761,764 -280,941,051 -282,053,576 -283,104,409 -283,946,673 -284,197,129 -283,198,821 -283,951,600 -287,996,326 -289,476,868 -290,828,818 -292,141,214 -293,348,448 -294,183,709 -294,099,170 -292,511,863 -297,725,623 -299,899,742 -301,618,330 -318,291,569 -334,925,356 -336,358,826 -337,173,733 -336,651,121 -338,088,802 -343,176,493 -345,487,456 -347,698,476 627,560,501 -PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 -Electricity to grid (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 +Annual costs ($) -1,113,812,029 569,253,012 -286,473,844 -287,547,537 -288,588,032 -289,631,613 -290,691,228 -291,781,042 -292,879,035 -294,052,982 -294,879,094 -293,872,019 -295,508,409 -298,466,098 -300,030,922 -301,574,149 -303,151,183 -304,782,092 -306,482,777 -308,246,514 -310,122,196 -327,051,352 -342,654,222 -343,305,750 -348,183,188 -350,847,244 -353,530,424 -356,328,284 -359,274,963 -362,392,535 727,787,263 +PPA revenue ($) 0 396,630,062 398,624,650 401,627,711 404,386,789 407,040,688 409,632,646 412,210,081 414,672,474 417,283,535 418,307,342 411,690,692 415,620,486 424,704,722 427,890,308 430,733,931 433,440,526 436,069,733 438,662,484 441,165,829 443,750,907 445,508,401 441,437,712 437,736,141 450,708,852 454,133,370 457,043,047 459,779,014 462,428,869 465,027,070 467,582,405 +Electricity to grid (kWh) 0.0 4,175,053,287 4,196,048,942 4,202,445,447 4,206,228,304 4,208,879,003 4,210,861,909 4,212,673,290 4,213,294,803 4,215,411,003 4,201,560,283 4,111,561,888 4,127,313,666 4,193,786,136 4,201,593,759 4,205,975,308 4,208,977,726 4,211,199,738 4,213,047,288 4,214,020,721 4,215,760,090 4,209,660,783 4,148,850,677 4,092,139,300 4,191,081,013 4,200,660,165 4,205,401,615 4,208,503,557 4,210,789,188 4,212,583,291 4,213,972,647 -Present value of annual costs ($) 2,298,728,919 -Present value of annual energy nominal (kWh) 28,355,365,264 -LCOE Levelized cost of energy nominal (cents/kWh) 8.11 +Present value of annual costs ($) 2,280,625,999 +Present value of annual energy nominal (kWh) 27,506,089,921 +LCOE Levelized cost of energy nominal (cents/kWh) 8.29 -Present value of PPA revenue ($) 2,782,077,849 -Present value of annual energy nominal (kWh) 28,355,365,264 -LPPA Levelized PPA price nominal (cents/kWh) 9.81 +Present value of PPA revenue ($) 2,696,638,645 +Present value of annual energy nominal (kWh) 27,506,089,921 +LPPA Levelized PPA price nominal (cents/kWh) 9.80 PROJECT STATE INCOME TAXES -EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 -State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Interest earned on reserves ($) 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 -State taxable IBI income ($) 0 -State taxable CBI income ($) 0 +EBITDA ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 +State taxable PBI income ($) 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 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State taxable IBI income ($) 0 +State taxable CBI income ($) 0 minus: -Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 -Total state tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 142,917,394 141,655,800 140,293,279 138,821,756 137,232,511 135,516,127 133,662,432 131,660,441 129,498,291 127,163,169 124,641,237 121,917,551 118,975,969 115,799,062 112,368,001 108,662,456 104,660,467 100,338,319 95,670,400 90,629,046 85,184,385 79,304,150 72,953,497 66,094,791 58,687,389 50,687,395 42,047,402 32,716,208 22,638,520 11,754,616 +Total state tax depreciation ($) 0 61,630,938 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 61,630,938 0 0 0 0 0 0 0 0 0 equals: -State taxable income ($) 0 94,868,122 42,036,219 46,481,325 50,674,785 54,635,710 57,810,470 58,754,517 54,991,577 57,829,041 73,074,901 78,655,531 83,751,463 88,698,300 93,248,749 96,397,111 96,078,457 90,095,394 109,747,710 117,942,657 124,420,562 187,267,297 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 +State taxable income ($) 0 66,226,233 7,851,476 12,217,059 16,447,660 20,690,804 24,999,146 29,430,277 33,894,660 38,667,871 42,026,800 37,932,082 44,585,562 56,611,379 62,973,873 69,248,557 75,660,697 82,291,892 89,206,791 96,378,056 104,004,487 172,837,581 236,278,065 238,927,147 258,758,564 269,590,484 280,500,156 291,876,115 303,857,164 316,533,053 1,780,112,019 -State income tax rate (frac) 0.0 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 -State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 +State income tax rate (frac) 0.0 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 +State tax benefit (liability) ($) 0 -3,013,294 -357,242 -555,876 -748,369 -941,432 -1,137,461 -1,339,078 -1,542,207 -1,759,388 -1,912,219 -1,725,910 -2,028,643 -2,575,818 -2,865,311 -3,150,809 -3,442,562 -3,744,281 -4,058,909 -4,385,202 -4,732,204 -7,864,110 -10,750,652 -10,871,185 -11,773,515 -12,266,367 -12,762,757 -13,280,363 -13,825,501 -14,402,254 -80,995,097 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 -State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State PTC income ($) 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 -Federal taxable IBI income ($) 0 -Federal taxable CBI income ($) 0 -Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +EBITDA ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -3,013,294 -357,242 -555,876 -748,369 -941,432 -1,137,461 -1,339,078 -1,542,207 -1,759,388 -1,912,219 -1,725,910 -2,028,643 -2,575,818 -2,865,311 -3,150,809 -3,442,562 -3,744,281 -4,058,909 -4,385,202 -4,732,204 -7,864,110 -10,750,652 -10,871,185 -11,773,515 -12,266,367 -12,762,757 -13,280,363 -13,825,501 -14,402,254 -80,995,097 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +Federal taxable IBI income ($) 0 +Federal taxable CBI income ($) 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 minus: -Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 -Total federal tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 142,917,394 141,655,800 140,293,279 138,821,756 137,232,511 135,516,127 133,662,432 131,660,441 129,498,291 127,163,169 124,641,237 121,917,551 118,975,969 115,799,062 112,368,001 108,662,456 104,660,467 100,338,319 95,670,400 90,629,046 85,184,385 79,304,150 72,953,497 66,094,791 58,687,389 50,687,395 42,047,402 32,716,208 22,638,520 11,754,616 +Total federal tax depreciation ($) 0 61,630,938 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 123,261,877 61,630,938 0 0 0 0 0 0 0 0 0 equals: -Federal taxable income ($) 0 88,227,353 39,093,684 43,227,632 47,127,550 50,811,211 53,763,737 54,641,701 51,142,167 53,781,008 67,959,658 73,149,644 77,888,861 82,489,419 86,721,337 89,649,313 89,352,965 83,788,717 102,065,370 109,686,671 115,711,122 174,158,587 232,467,751 237,492,733 240,349,361 238,517,361 243,557,102 261,391,828 269,492,830 277,243,486 1,522,294,430 +Federal taxable income ($) 0 63,212,940 7,494,234 11,661,183 15,699,291 19,749,372 23,861,685 28,091,199 32,352,453 36,908,483 40,114,580 36,206,172 42,556,919 54,035,562 60,108,562 66,097,747 72,218,135 78,547,611 85,147,882 91,992,855 99,272,283 164,973,471 225,527,413 228,055,962 246,985,050 257,324,117 267,737,399 278,595,752 290,031,663 302,130,799 1,699,116,922 -Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 -Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 -13,274,717 -1,573,789 -2,448,848 -3,296,851 -4,147,368 -5,010,954 -5,899,152 -6,794,015 -7,750,781 -8,424,062 -7,603,296 -8,936,953 -11,347,468 -12,622,798 -13,880,527 -15,165,808 -16,494,998 -17,881,055 -19,318,499 -20,847,179 -34,644,429 -47,360,757 -47,891,752 -51,866,860 -54,038,065 -56,224,854 -58,505,108 -60,906,649 -63,447,468 -356,814,554 CASH INCENTIVES -Federal IBI income ($) 0 -State IBI income ($) 0 -Utility IBI income ($) 0 -Other IBI income ($) 0 -Total IBI income ($) 0 - -Federal CBI income ($) 0 -State CBI income ($) 0 -Utility CBI income ($) 0 -Other CBI income ($) 0 -Total CBI income ($) 0 - -Federal PBI income ($) 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 -State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Utility PBI income ($) 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 -Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total PBI income ($) 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 +Federal IBI income ($) 0 +State IBI income ($) 0 +Utility IBI income ($) 0 +Other IBI income ($) 0 +Total IBI income ($) 0 + +Federal CBI income ($) 0 +State CBI income ($) 0 +Utility CBI income ($) 0 +Other CBI income ($) 0 +Total CBI income ($) 0 + +Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PBI income ($) 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 +Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Other PBI income ($) 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 +Total PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 TAX CREDITS -Federal PTC income ($) 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 -State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal PTC income ($) 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 +State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC amount income ($) 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 -Federal ITC percent income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC total income ($) 0 798,259,913 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 +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 870,083,836 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 +Federal ITC total income ($) 0 870,083,836 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC amount income ($) 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 -State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State ITC total income ($) 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 +State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC percent income ($) 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 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DEBT REPAYMENT -Debt balance ($) 1,596,519,826 1,574,859,723 1,551,986,655 1,527,832,695 1,502,326,113 1,475,391,163 1,446,947,855 1,416,911,722 1,385,193,566 1,351,699,193 1,316,329,135 1,278,978,354 1,239,535,929 1,197,884,729 1,153,901,061 1,107,454,308 1,058,406,536 1,006,612,089 951,917,154 894,159,302 833,167,010 768,759,150 700,744,449 628,920,926 553,075,285 472,982,288 388,404,084 299,089,500 204,773,299 105,175,391 0 -Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 -Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 -Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 +Debt balance ($) 1,786,467,424 1,770,697,502 1,753,665,986 1,735,271,949 1,715,406,389 1,693,951,584 1,670,780,394 1,645,755,510 1,618,728,634 1,589,539,609 1,558,015,461 1,523,969,382 1,487,199,617 1,447,488,270 1,404,600,015 1,358,280,700 1,308,255,840 1,254,228,991 1,195,879,995 1,132,863,078 1,064,804,808 991,301,877 911,918,711 826,184,891 733,592,367 633,592,440 525,592,519 408,952,604 282,981,497 146,932,700 0 +Debt interest payment ($) 0 142,917,394 141,655,800 140,293,279 138,821,756 137,232,511 135,516,127 133,662,432 131,660,441 129,498,291 127,163,169 124,641,237 121,917,551 118,975,969 115,799,062 112,368,001 108,662,456 104,660,467 100,338,319 95,670,400 90,629,046 85,184,385 79,304,150 72,953,497 66,094,791 58,687,389 50,687,395 42,047,402 32,716,208 22,638,520 11,754,616 +Debt principal payment ($) 0 15,769,922 17,031,516 18,394,037 19,865,560 21,454,805 23,171,189 25,024,885 27,026,875 29,189,025 31,524,147 34,046,079 36,769,766 39,711,347 42,888,255 46,319,315 50,024,860 54,026,849 58,348,997 63,016,917 68,058,270 73,502,931 79,383,166 85,733,819 92,592,525 99,999,927 107,999,921 116,639,915 125,971,108 136,048,796 146,932,700 +Debt total payment ($) 0 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 DSCR (DEBT FRACTION) -EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +EBITDA ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 minus: -Reserves major equipment 1 funding ($) 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 -Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 funding ($) 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 -Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 funding ($) 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 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 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 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash available for debt service (CAFDS) ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 -Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 -DSCR (pre-tax) 0.0 2.17 2.19 2.22 2.24 2.27 2.28 2.28 2.23 2.24 2.36 2.39 2.42 2.44 2.46 2.47 2.44 2.36 2.51 2.56 2.59 2.62 2.64 2.65 2.64 2.59 2.60 2.73 2.76 2.79 14.79 +Cash available for debt service (CAFDS) ($) 0 270,774,566 272,769,153 275,772,215 278,531,293 281,185,192 283,777,150 286,354,585 288,816,978 291,428,039 292,451,845 285,835,195 289,764,990 298,849,225 302,034,812 304,878,435 307,585,030 310,214,236 312,806,987 315,310,333 317,895,410 319,652,904 315,582,215 311,880,644 324,853,355 328,277,874 331,187,551 333,923,517 336,573,372 339,171,573 1,791,866,635 +Debt total payment ($) 0 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 158,687,316 +DSCR (pre-tax) 0.0 1.71 1.72 1.74 1.76 1.77 1.79 1.80 1.82 1.84 1.84 1.80 1.83 1.88 1.90 1.92 1.94 1.95 1.97 1.99 2.0 2.01 1.99 1.97 2.05 2.07 2.09 2.10 2.12 2.14 11.29 RESERVES -Reserves working capital funding ($) 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 -Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves working capital balance ($) 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 - -Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves debt service disbursement ($) 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 -Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves receivables funding ($) 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 -Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves receivables balance ($) 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 - -Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 1 disbursement ($) 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 -Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves major equipment 2 funding ($) 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 -Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 2 balance ($) 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 - -Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Reserves major equipment 3 disbursement ($) 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 -Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 - -Reserves total reserves balance ($) 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 -Interest on reserves (%/year) 1.75 -Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- +Reserves working capital funding ($) 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 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 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 + +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 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 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves receivables funding ($) 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 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 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 + +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 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 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 2 funding ($) 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 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 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 + +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 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 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves total reserves balance ($) 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 +Interest on reserves (%/year) 1.75 +Interest earned on reserves ($) 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 +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- diff --git a/tests/examples/Fervo_Project_Cape-4.txt b/tests/examples/Fervo_Project_Cape-4.txt index d2c1fe956..8d21a034c 100644 --- a/tests/examples/Fervo_Project_Cape-4.txt +++ b/tests/examples/Fervo_Project_Cape-4.txt @@ -1,6 +1,4 @@ -# Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station -# 500 MWe EGS Case Study Modeled on Fervo Cape Station after Fervo's April 2025 upsizing announcement: -# https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/ +# Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station Phase II # See documentation: https://softwareengineerprogrammer.github.io/GEOPHIRES/Fervo_Project_Cape-4.html # *** ECONOMIC/FINANCIAL PARAMETERS *** @@ -9,29 +7,30 @@ Economic Model, 5, -- SAM Single Owner PPA Starting Electricity Sale Price, 0.095, -- Upper end of ranges given in https://atb.nrel.gov/electricity/2024/geothermal Electricity Escalation Rate Per Year, 0.00057, -- calibrated to reach 10 cents/kWh at project year 11 -Ending Electricity Sale Price, 0.15, -- Note that this value does not directly determine price at the end of the project life, but rather as a cap as the maximum price to which the starting price can escalate. +Ending Electricity Sale Price, 1, -- Note that this value does not directly determine price at the end of the project life, but rather as a cap as the maximum price to which the starting price can escalate. Electricity Escalation Start Year, 1 Discount Rate, 0.12 Fraction of Investment in Bonds, .6, -- Based on fraction of CAPEX with $1 billion in sponsor equity per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ -Inflated Bond Interest Rate, .056 +Inflated Bond Interest Rate, .08 +Inflated Bond Interest Rate During Construction, 0.1, -- Higher interest rate during construction to account for increased risk of default. -Inflation Rate, .023, -- US inflation as of April 2025 -Construction Years, 1, -- Calibrated to a 2-6 year construction time for a 1 GW plant (Yusifov & Enriquez, 2025) +Inflation Rate, .027, -- US inflation as of December 2025 +Construction Years, 5, 2023–2028 +Construction CAPEX Schedule, 0.014,0.027,0.137,0.274,0.548 -Combined Income Tax Rate, .28 Investment Tax Credit Rate, 0.3 -Property Tax Rate, 0 +Combined Income Tax Rate, .2555, -- Federal Corporate Income Tax Rate of 21% plus Utah Corporate Franchise and Income Tax Rate of 4.55%. (Note: This input uses a simple summation of statutory rates; the effective combined rate calculated in the model may differ due to standard federal-state tax interactions.) +Property Tax Rate, 0.0022, -- Utah Inland Port Authority (UIPA) tax differential incentive Capital Cost for Power Plant for Electricity Generation, 1900, -- https://betterbuildingssolutioncenter.energy.gov/sites/default/files/attachments/Waste_Heat_to_Power_Fact_Sheet.pdf -Exploration Capital Cost, 30, -- Estimate significantly higher exploration costs than default correlation in consideration of potential risks associated with second/third/fourth-of-a-kind EGS projects +Exploration Capital Cost, 30, -- Equivalent to 2024b ATB NF-EGS conservative scenario exploration assumption of 5 full-size wells (NREL, 2025), plus $1M for geophysical and field work, plus 15% contingency, plus 12% indirect costs. Well Drilling Cost Correlation, 3, -- VERTICAL_LARGE (2025 NREL Geothermal Drilling Cost Curve Update) -Well Drilling and Completion Capital Cost Adjustment Factor, 0.8, -- Adjust correlation-calculated value of $4.72M/well to $3.96M/well per Tim Latimer on 2025-02-12 Volts podcast: less than $4M/well +Well Drilling and Completion Capital Cost Adjustment Factor, 0.9, -- NREL Geothermal 2024b ATB https://atb.nrel.gov/electricity/2024b/geothermal -Reservoir Stimulation Capital Cost per Injection Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. -Reservoir Stimulation Capital Cost per Production Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. -Reservoir Stimulation Indirect Capital Cost Percentage, 0, -- Baseline stimulation cost includes indirect costs +Reservoir Stimulation Capital Cost per Injection Well, 4 +Reservoir Stimulation Capital Cost per Production Well, 4 Field Gathering System Capital Cost Adjustment Factor, 0.54, -- Gathering costs represent 2% of facilities CAPEX per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ @@ -41,35 +40,39 @@ End-Use Option, 1, -- Electricity Power Plant Type, 2, -- Supercritical ORC Plant Lifetime, 30, -- Per https://fervoenergy.com/geothermal-mythbusting-water-use-and-impacts/ -Reservoir Model, 1, -- Multiple Parallel Fractures -Reservoir Depth, 8500 feet, -- https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf +Reservoir Model, 1, -- Multiple Parallel Fractures (Gringarten) +Reservoir Depth, 2.5908, -- 8500 feet per https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf -Gradient 1, 74, -- temperature at 8500 ft: 200 degC (https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf); 228.89 degC @ 9824 ft (https://doi.org/10.31223/X5VH8C) +Gradient 1, 72.23, -- temperature at 8500 ft: 200 degC (https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf); 228.89 degC @ 9824 ft (https://doi.org/10.31223/X5VH8C) Number of Segments, 1 Reservoir Density, 2800, -- per https://doi.org/10.31223/X52X0B: phyllite + quartzite + diorite + granodiorite Reservoir Heat Capacity, 790 Reservoir Thermal Conductivity, 3.05 Reservoir Porosity, 0.0118 -Reservoir Impedance, 0.001565 + +Productivity Index, 2.494, -- [kg/s/bar] NREL ATB conservative scenario (https://atb.nrel.gov/electricity/2024/geothermal) +Injectivity Index, 3.015, -- [kg/s/bar] NREL ATB conservative scenario (https://atb.nrel.gov/electricity/2024/geothermal) Reservoir Volume Option, 1, -- FRAC_NUM_SEP: Reservoir volume calculated with fracture separation and number of fractures as input -Number of Fractures, 12036, -- 102 fractures per well -Fracture Separation, 18, -- Per https://eartharxiv.org/repository/view/7665/, lateral length is 4700 ft = 1432 m. Dividing 1432 by 80 = ~18 m fracture spacing. -Fracture Shape, 3, -- Square -Fracture Height, 165.3, -- Based on total fracture surface area of 30 million ft^2 per well https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2025/Fercho.pdf -Number of Doublets, 59 - -Production Flow Rate per Well, 107, -- Maximum flow rate achieved at Cape Station per https://www.businesswire.com/news/home/20240910997008/en/Fervo-Energys-Record-Breaking-Production-Results-Showcase-Rapid-Scale-Up-of-Enhanced-Geothermal -Production Well Diameter, 9.625, -- Next standard size up from 7", implied by announcement of "increasing casing diameter" -Injection Well Diameter, 9.625 +Number of Fractures per Stimulated Well, 200, -- 25 stages with 8 clusters per stage +Fracture Separation, 7.315 +Fracture Shape, 2, -- CIRCULAR_DIAMETER +Fracture Height, 186.16, -- Approximates ellipsoidal fracture with 228 meter height and 152 meter length +Number of Doublets, 52 + +Production Flow Rate per Well, 120, -- Maximum Fervo-tested flow rate +Production Well Diameter, 8.535, -- Inner diameter for 9-5/8" casing size +Injection Well Diameter, 8.535, -- Inner diameter for 9-5/8" casing size + Ramey Production Wellbore Model, 1 Injection Temperature, 53.6, -- GEOPHIRES model-calculated reinjection temperature Injection Wellbore Temperature Gain, 3 -Ambient Temperature, 10 degC -Surface Temperature, 10 degC -Maximum Drawdown, 0.0153, -- Drawdown value that prevents minimum net electricity generation from going below 500 MWe +Ambient Temperature, 11.17, -- https://www.ncei.noaa.gov/access/us-climate-normals/#dataset=normals-annualseasonal&timeframe=30&station=USC00425654 +Surface Temperature, 13, -- Project InnerSpace GeoMap https://geomap.projectinnerspace.org/test/ + +Maximum Drawdown, 0.02, -- Drawdown value that prevents minimum net electricity generation from going below 500 MWe Water Loss Fraction, 0.15, -- Estimated to be between 10 and 20% Utilization Factor, .9 @@ -79,7 +82,7 @@ Circulation Pump Efficiency, 0.80 Well Geometry Configuration, 4, -- L Number of Multilateral Sections, 0, -- This parameter is set to 0 because, for this case study, the cost of horizontal drilling (which would otherwise account for approximately 118 multilateral sections) is included within the 'vertical drilling cost.' This approach allows us to more directly convey the overall well drilling and completion cost, which is under $4 million. -Nonvertical Length per Multilateral Section, 4700 feet, -- Deployment of Enhanced Geothermal System Technology Leads to Rapid Cost Reductions and Performance Improvements. p. 3. https://doi.org/10.31223/X5VH8C +Nonvertical Length per Multilateral Section, 4800 feet, -- Fervo presentation at Payne Institute, Dec 2, 2025 Multilaterals Cased, True # *** SIMULATION PARAMETERS *** diff --git a/tests/examples/Fervo_Project_Cape-4_v2025-08-11 b/tests/examples/Fervo_Project_Cape-4_v2025-08-11 new file mode 100644 index 000000000..6f181b04b --- /dev/null +++ b/tests/examples/Fervo_Project_Cape-4_v2025-08-11 @@ -0,0 +1,88 @@ +# [v2025-08-11] Case Study: 500 MWe EGS Project Modeled on Fervo Cape Station +# 500 MWe EGS Case Study Modeled on Fervo Cape Station after Fervo's April 2025 upsizing announcement: +# https://fervoenergy.com/fervo-energy-announces-31-mw-power-purchase-agreement-with-shell-energy/ +# See documentation: https://softwareengineerprogrammer.github.io/GEOPHIRES/Fervo_Project_Cape-4.html + +# *** ECONOMIC/FINANCIAL PARAMETERS *** +# ************************************* +Economic Model, 5, -- SAM Single Owner PPA + +Starting Electricity Sale Price, 0.095, -- Upper end of ranges given in https://atb.nrel.gov/electricity/2024/geothermal +Electricity Escalation Rate Per Year, 0.00057, -- calibrated to reach 10 cents/kWh at project year 11 +Ending Electricity Sale Price, 0.15, -- Note that this value does not directly determine price at the end of the project life, but rather as a cap as the maximum price to which the starting price can escalate. +Electricity Escalation Start Year, 1 + +Discount Rate, 0.12 +Fraction of Investment in Bonds, .6, -- Based on fraction of CAPEX with $1 billion in sponsor equity per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ +Inflated Bond Interest Rate, .056 + +Inflation Rate, .023, -- US inflation as of April 2025 +Construction Years, 1, -- Calibrated to a 2-6 year construction time for a 1 GW plant (Yusifov & Enriquez, 2025) + +Combined Income Tax Rate, .28 +Investment Tax Credit Rate, 0.3 +Property Tax Rate, 0 + +Capital Cost for Power Plant for Electricity Generation, 1900, -- https://betterbuildingssolutioncenter.energy.gov/sites/default/files/attachments/Waste_Heat_to_Power_Fact_Sheet.pdf +Exploration Capital Cost, 30, -- Estimate significantly higher exploration costs than default correlation in consideration of potential risks associated with second/third/fourth-of-a-kind EGS projects + +Well Drilling Cost Correlation, 3, -- VERTICAL_LARGE (2025 NREL Geothermal Drilling Cost Curve Update) +Well Drilling and Completion Capital Cost Adjustment Factor, 0.8, -- Adjust correlation-calculated value of $4.72M/well to $3.96M/well per Tim Latimer on 2025-02-12 Volts podcast: less than $4M/well + +Reservoir Stimulation Capital Cost per Injection Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. +Reservoir Stimulation Capital Cost per Production Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. +Reservoir Stimulation Indirect Capital Cost Percentage, 0, -- Baseline stimulation cost includes indirect costs + +Field Gathering System Capital Cost Adjustment Factor, 0.54, -- Gathering costs represent 2% of facilities CAPEX per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ + +# *** SURFACE & SUBSURFACE TECHNICAL PARAMETERS *** +# ************************************************* +End-Use Option, 1, -- Electricity +Power Plant Type, 2, -- Supercritical ORC +Plant Lifetime, 30, -- Per https://fervoenergy.com/geothermal-mythbusting-water-use-and-impacts/ + +Reservoir Model, 1, -- Multiple Parallel Fractures +Reservoir Depth, 8500 feet, -- https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf + +Gradient 1, 74, -- temperature at 8500 ft: 200 degC (https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf); 228.89 degC @ 9824 ft (https://doi.org/10.31223/X5VH8C) +Number of Segments, 1 + +Reservoir Density, 2800, -- per https://doi.org/10.31223/X52X0B: phyllite + quartzite + diorite + granodiorite +Reservoir Heat Capacity, 790 +Reservoir Thermal Conductivity, 3.05 +Reservoir Porosity, 0.0118 +Reservoir Impedance, 0.001565 + +Reservoir Volume Option, 1, -- FRAC_NUM_SEP: Reservoir volume calculated with fracture separation and number of fractures as input +Number of Fractures, 12036, -- 102 fractures per well +Fracture Separation, 18, -- Per https://eartharxiv.org/repository/view/7665/, lateral length is 4700 ft = 1432 m. Dividing 1432 by 80 = ~18 m fracture spacing. +Fracture Shape, 3, -- Square +Fracture Height, 165.3, -- Based on total fracture surface area of 30 million ft^2 per well https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2025/Fercho.pdf +Number of Doublets, 59 + +Production Flow Rate per Well, 107, -- Maximum flow rate achieved at Cape Station per https://www.businesswire.com/news/home/20240910997008/en/Fervo-Energys-Record-Breaking-Production-Results-Showcase-Rapid-Scale-Up-of-Enhanced-Geothermal +Production Well Diameter, 9.625, -- Next standard size up from 7", implied by announcement of "increasing casing diameter" +Injection Well Diameter, 9.625 +Ramey Production Wellbore Model, 1 +Injection Temperature, 53.6, -- GEOPHIRES model-calculated reinjection temperature +Injection Wellbore Temperature Gain, 3 +Ambient Temperature, 10 degC +Surface Temperature, 10 degC + +Maximum Drawdown, 0.0153, -- Drawdown value that prevents minimum net electricity generation from going below 500 MWe +Water Loss Fraction, 0.15, -- Estimated to be between 10 and 20% + +Utilization Factor, .9 +Plant Outlet Pressure, 1000 psi, -- https://doi.org/10.31223/X5VH8C +Production Wellhead Pressure, 325 psi, -- https://doi.org/10.31223/X5VH8C +Circulation Pump Efficiency, 0.80 + +Well Geometry Configuration, 4, -- L +Number of Multilateral Sections, 0, -- This parameter is set to 0 because, for this case study, the cost of horizontal drilling (which would otherwise account for approximately 118 multilateral sections) is included within the 'vertical drilling cost.' This approach allows us to more directly convey the overall well drilling and completion cost, which is under $4 million. +Nonvertical Length per Multilateral Section, 4700 feet, -- Deployment of Enhanced Geothermal System Technology Leads to Rapid Cost Reductions and Performance Improvements. p. 3. https://doi.org/10.31223/X5VH8C +Multilaterals Cased, True + +# *** SIMULATION PARAMETERS *** +# ***************************** +Maximum Temperature, 500 +Time steps per year, 12 diff --git a/tests/examples/Fervo_Project_Cape-4_v2025-08-11.out b/tests/examples/Fervo_Project_Cape-4_v2025-08-11.out new file mode 100644 index 000000000..e85f55118 --- /dev/null +++ b/tests/examples/Fervo_Project_Cape-4_v2025-08-11.out @@ -0,0 +1,450 @@ + ***************** + ***CASE REPORT*** + ***************** + +Simulation Metadata +---------------------- + GEOPHIRES Version: 3.10.22 + Simulation Date: 2025-12-15 + Simulation Time: 09:15 + Calculation Time: 1.777 sec + + ***SUMMARY OF RESULTS*** + + End-Use Option: Electricity + Average Net Electricity Production: 532.53 MW + Electricity breakeven price: 8.11 cents/kWh + Total CAPEX: 2660.87 MUSD + Number of production wells: 59 + Number of injection wells: 59 + Flowrate per production well: 107.0 kg/sec + Well depth: 2.6 kilometer + Geothermal gradient: 74 degC/km + + + ***ECONOMIC PARAMETERS*** + + Economic Model = SAM Single Owner PPA + Real Discount Rate: 12.00 % + Nominal Discount Rate: 14.58 % + WACC: 8.30 % + Project lifetime: 30 yr + Capacity factor: 90.0 % + Project NPV: 483.35 MUSD + After-tax IRR: 27.55 % + Project VIR=PI=PIR: 1.45 + Project MOIC: 4.20 + Project Payback Period: 2.33 yr + Estimated Jobs Created: 1300 + + ***ENGINEERING PARAMETERS*** + + Number of Production Wells: 59 + Number of Injection Wells: 59 + Well depth: 2.6 kilometer + Water loss rate: 15.0 % + Pump efficiency: 80.0 % + Injection temperature: 56.6 degC + Production Wellbore heat transmission calculated with Ramey's model + Average production well temperature drop: 0.6 degC + Flowrate per production well: 107.0 kg/sec + Injection well casing ID: 9.625 in + Production well casing ID: 9.625 in + Number of times redrilling: 3 + Power plant type: Supercritical ORC + + + ***RESOURCE CHARACTERISTICS*** + + Maximum reservoir temperature: 500.0 degC + Number of segments: 1 + Geothermal gradient: 74 degC/km + + + ***RESERVOIR PARAMETERS*** + + Reservoir Model = Multiple Parallel Fractures Model (Gringarten) + Bottom-hole temperature: 201.72 degC + Fracture model = Square + Well separation: fracture height: 165.30 meter + Fracture area: 27324.09 m**2 + Reservoir volume calculated with fracture separation and number of fractures as input + Number of fractures: 12036 + Fracture separation: 18.00 meter + Reservoir volume: 5919217617 m**3 + Reservoir impedance: 0.0016 GPa.s/m**3 + Reservoir density: 2800.00 kg/m**3 + Reservoir thermal conductivity: 3.05 W/m/K + Reservoir heat capacity: 790.00 J/kg/K + + + ***RESERVOIR SIMULATION RESULTS*** + + Maximum Production Temperature: 199.6 degC + Average Production Temperature: 199.0 degC + Minimum Production Temperature: 195.4 degC + Initial Production Temperature: 198.2 degC + Average Reservoir Heat Extraction: 3761.51 MW + Production Wellbore Heat Transmission Model = Ramey Model + Average Production Well Temperature Drop: 0.6 degC + Total Average Pressure Drop: 8521.8 kPa + Average Injection Well Pressure Drop: 600.9 kPa + Average Reservoir Pressure Drop: 10344.9 kPa + Average Production Well Pressure Drop: 504.2 kPa + Average Buoyancy Pressure Drop: -2928.2 kPa + + + ***CAPITAL COSTS (M$)*** + + Drilling and completion costs: 467.75 MUSD + Drilling and completion costs per well: 3.96 MUSD + Stimulation costs: 542.80 MUSD + Surface power plant costs: 1504.05 MUSD + Field gathering system costs: 56.44 MUSD + Total surface equipment costs: 1560.49 MUSD + Exploration costs: 30.00 MUSD + Overnight Capital Cost: 2601.04 MUSD + Inflation costs during construction: 59.82 MUSD + Total CAPEX: 2660.87 MUSD + + + ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** + + Wellfield maintenance costs: 6.20 MUSD/yr + Power plant maintenance costs: 25.43 MUSD/yr + Water costs: 24.86 MUSD/yr + Redrilling costs: 101.05 MUSD/yr + Total operating and maintenance costs: 157.54 MUSD/yr + + + ***SURFACE EQUIPMENT SIMULATION RESULTS*** + + Initial geofluid availability: 0.19 MW/(kg/s) + Maximum Total Electricity Generation: 614.60 MW + Average Total Electricity Generation: 610.21 MW + Minimum Total Electricity Generation: 583.15 MW + Initial Total Electricity Generation: 604.35 MW + Maximum Net Electricity Generation: 537.14 MW + Average Net Electricity Generation: 532.53 MW + Minimum Net Electricity Generation: 504.44 MW + Initial Net Electricity Generation: 526.63 MW + Average Annual Total Electricity Generation: 4810.97 GWh + Average Annual Net Electricity Generation: 4198.60 GWh + Initial pumping power/net installed power: 14.76 % + Average Pumping Power: 77.67 MW + Heat to Power Conversion Efficiency: 14.16 % + + ************************************************************ + * HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ************************************************************ + YEAR THERMAL GEOFLUID PUMP NET FIRST LAW + DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY + (degC) (MW) (MW) (%) + 1 1.0000 198.22 77.7286 526.6263 14.0769 + 2 1.0051 199.24 77.6662 534.3539 14.1818 + 3 1.0061 199.42 77.6547 535.7721 14.2009 + 4 1.0065 199.52 77.6489 536.5044 14.2108 + 5 1.0068 199.57 77.6474 536.9145 14.2163 + 6 1.0067 199.55 77.6626 536.7091 14.2133 + 7 1.0054 199.29 77.7347 534.6638 14.1850 + 8 1.0012 198.47 77.9449 528.2545 14.0960 + 9 0.9919 196.61 78.4108 513.7990 13.8924 + 10 1.0040 199.02 77.6265 532.7400 14.1607 + 11 1.0057 199.35 77.6184 535.2509 14.1944 + 12 1.0063 199.48 77.6077 536.2282 14.2076 + 13 1.0067 199.55 77.5951 536.8041 14.2155 + 14 1.0068 199.58 77.5874 537.0016 14.2182 + 15 1.0063 199.46 77.6101 536.1193 14.2061 + 16 1.0038 198.97 77.7249 532.3053 14.1535 + 17 0.9974 197.70 78.0349 522.3915 14.0153 + 18 1.0000 198.22 77.5160 526.8389 14.0826 + 19 1.0051 199.24 77.5030 534.5170 14.1861 + 20 1.0061 199.42 77.4920 535.9348 14.2052 + 21 1.0065 199.52 77.4831 536.6702 14.2152 + 22 1.0068 199.57 77.4784 537.0835 14.2208 + 23 1.0067 199.55 77.4911 536.8806 14.2179 + 24 1.0054 199.29 77.5620 534.8365 14.1896 + 25 1.0012 198.47 77.7729 528.4265 14.1006 + 26 0.9919 196.61 78.2420 513.9678 13.8970 + 27 1.0040 199.02 77.4599 532.9067 14.1651 + 28 1.0057 199.35 77.4589 535.4103 14.1987 + 29 1.0063 199.48 77.4584 536.3775 14.2116 + 30 1.0067 199.55 77.4587 536.9405 14.2191 + + + ******************************************************************* + * ANNUAL HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ******************************************************************* + YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF + PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED + (GWh/year) (GWh/year) (10^15 J) (%) + 1 4192.9 29636.9 1793.40 5.62 + 2 4219.2 29728.1 1686.38 11.25 + 3 4227.2 29755.6 1579.26 16.89 + 4 4231.6 29771.1 1472.08 22.53 + 5 4232.9 29775.6 1364.89 28.17 + 6 4225.2 29749.9 1257.79 33.80 + 7 4194.0 29644.4 1151.07 39.42 + 8 4114.4 29374.5 1045.32 44.99 + 9 4101.4 29325.8 939.75 50.54 + 10 4212.2 29702.5 832.82 56.17 + 11 4224.2 29744.1 725.74 61.80 + 12 4230.1 29764.4 618.59 67.44 + 13 4233.3 29775.3 511.40 73.09 + 14 4231.4 29768.8 404.23 78.73 + 15 4214.5 29711.6 297.27 84.36 + 16 4162.9 29536.5 190.94 89.95 + 17 4055.6 29171.2 85.92 95.48 + 18 4194.3 29636.9 -20.77 101.09 + 19 4220.5 29728.1 -127.79 106.73 + 20 4228.5 29755.6 -234.91 112.36 + 21 4233.0 29771.1 -342.09 118.00 + 22 4234.2 29775.6 -449.28 123.65 + 23 4226.6 29749.9 -556.38 129.28 + 24 4195.3 29644.4 -663.10 134.90 + 25 4115.7 29374.5 -768.85 140.46 + 26 4102.7 29325.8 -874.42 146.02 + 27 4213.5 29702.5 -981.35 151.65 + 28 4225.4 29744.1 -1088.43 157.28 + 29 4231.2 29764.4 -1195.58 162.92 + 30 4234.3 29775.2 -1302.77 168.56 + + *************************** + * SAM CASH FLOW PROFILE * + *************************** +------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 +CONSTRUCTION +Capital expenditure schedule [construction] (%) 100.0 +Overnight capital expenditure [construction] ($) -2,601,042,401 +plus: +Inflation cost [construction] ($) -59,823,975 +equals: +Nominal capital expenditure [construction] ($) -2,660,866,376 + +Issuance of equity [construction] ($) 1,064,346,550 +Issuance of debt [construction] ($) 1,596,519,826 +Debt balance [construction] ($) 1,596,519,826 +Debt interest payment [construction] ($) 0 + +Installed cost [construction] ($) -2,660,866,376 +After-tax net cash flow [construction] ($) -1,064,346,550 + +ENERGY +Electricity to grid (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 +Electricity from grid (kWh) 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 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 + +REVENUE +PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10 +PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 +Curtailment payment revenue ($) 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 +Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Salvage value ($) 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 1,330,433,188 +Total revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 1,800,309,896 + +Property tax net assessed value ($) 0 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 + +OPERATING EXPENSES +O&M fixed expense ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 +O&M production-based expense ($) 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 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 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 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 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 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 + +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 + +OPERATING ACTIVITIES +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +plus PBI if not available for debt service: +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 + +INVESTING ACTIVITIES +Total installed cost ($) -2,660,866,376 +Debt closing costs ($) 0 +Debt up-front fee ($) 0 +minus: +Total IBI income ($) 0 +Total CBI income ($) 0 +equals: +Purchase of property ($) -2,660,866,376 +plus: +Reserve (increase)/decrease debt service ($) 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 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 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 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 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 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 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 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 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 +equals: +Cash flow from investing activities ($) -2,660,866,376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +FINANCING ACTIVITIES +Issuance of equity ($) 1,064,346,550 +Size of debt ($) 1,596,519,826 +minus: +Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 +equals: +Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 + +PROJECT RETURNS +Pre-tax Cash Flow: +Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 +Cash flow from investing activities ($) -2,660,866,376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 +Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 + +Pre-tax Returns: +Issuance of equity ($) 1,064,346,550 +Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 + +After-tax Returns: +Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Federal ITC total income ($) 0 798,259,913 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 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 +Total after-tax returns ($) -1,064,346,550 902,842,830 121,097,763 123,082,690 124,811,004 126,292,727 127,116,866 126,217,632 121,770,976 122,079,444 131,404,893 133,524,258 135,176,596 136,602,262 137,613,009 137,463,025 134,627,892 127,485,460 139,023,528 141,981,439 143,506,316 129,720,834 115,634,823 115,795,735 114,030,354 108,335,718 107,831,906 117,184,960 118,583,135 119,424,446 1,097,437,209 + +After-tax net cash flow ($) -1,064,346,550 902,842,830 121,097,763 123,082,690 124,811,004 126,292,727 127,116,866 126,217,632 121,770,976 122,079,444 131,404,893 133,524,258 135,176,596 136,602,262 137,613,009 137,463,025 134,627,892 127,485,460 139,023,528 141,981,439 143,506,316 129,720,834 115,634,823 115,795,735 114,030,354 108,335,718 107,831,906 117,184,960 118,583,135 119,424,446 1,097,437,209 +After-tax cumulative IRR (%) NaN -15.17 -3.40 5.89 12.37 16.79 19.80 21.87 23.28 24.29 25.09 25.68 26.13 26.46 26.72 26.91 27.06 27.16 27.25 27.32 27.37 27.41 27.44 27.46 27.47 27.49 27.49 27.50 27.51 27.51 27.55 +After-tax cumulative NPV ($) -1,064,346,550 -276,360,558 -184,114,290 -102,283,638 -29,860,348 34,099,889 90,287,587 138,980,351 179,981,359 215,856,998 249,560,495 279,450,773 305,861,334 329,155,135 349,636,000 367,491,872 382,754,754 395,369,209 407,375,324 418,077,007 427,517,570 434,965,626 440,760,290 445,824,812 450,177,652 453,787,012 456,922,551 459,896,566 462,523,206 464,831,958 483,348,931 + +AFTER-TAX LCOE AND PPA PRICE +Annual costs ($) -1,064,346,550 504,481,845 -279,761,764 -280,941,051 -282,053,576 -283,104,409 -283,946,673 -284,197,129 -283,198,821 -283,951,600 -287,996,326 -289,476,868 -290,828,818 -292,141,214 -293,348,448 -294,183,709 -294,099,170 -292,511,863 -297,725,623 -299,899,742 -301,618,330 -318,291,569 -334,925,356 -336,358,826 -337,173,733 -336,651,121 -338,088,802 -343,176,493 -345,487,456 -347,698,476 627,560,501 +PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 +Electricity to grid (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 + +Present value of annual costs ($) 2,298,728,919 +Present value of annual energy nominal (kWh) 28,355,365,264 +LCOE Levelized cost of energy nominal (cents/kWh) 8.11 + +Present value of PPA revenue ($) 2,782,077,849 +Present value of annual energy nominal (kWh) 28,355,365,264 +LPPA Levelized PPA price nominal (cents/kWh) 9.81 + +PROJECT STATE INCOME TAXES +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +State taxable PBI income ($) 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 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State taxable IBI income ($) 0 +State taxable CBI income ($) 0 +minus: +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Total state tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 +equals: +State taxable income ($) 0 94,868,122 42,036,219 46,481,325 50,674,785 54,635,710 57,810,470 58,754,517 54,991,577 57,829,041 73,074,901 78,655,531 83,751,463 88,698,300 93,248,749 96,397,111 96,078,457 90,095,394 109,747,710 117,942,657 124,420,562 187,267,297 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 + +State income tax rate (frac) 0.0 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 + +PROJECT FEDERAL INCOME TAXES +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +Federal taxable IBI income ($) 0 +Federal taxable CBI income ($) 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +minus: +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Total federal tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 +equals: +Federal taxable income ($) 0 88,227,353 39,093,684 43,227,632 47,127,550 50,811,211 53,763,737 54,641,701 51,142,167 53,781,008 67,959,658 73,149,644 77,888,861 82,489,419 86,721,337 89,649,313 89,352,965 83,788,717 102,065,370 109,686,671 115,711,122 174,158,587 232,467,751 237,492,733 240,349,361 238,517,361 243,557,102 261,391,828 269,492,830 277,243,486 1,522,294,430 + +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 + +CASH INCENTIVES +Federal IBI income ($) 0 +State IBI income ($) 0 +Utility IBI income ($) 0 +Other IBI income ($) 0 +Total IBI income ($) 0 + +Federal CBI income ($) 0 +State CBI income ($) 0 +Utility CBI income ($) 0 +Other CBI income ($) 0 +Total CBI income ($) 0 + +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 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 + +TAX CREDITS +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 + +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 798,259,913 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 +Federal ITC total income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +State ITC amount income ($) 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 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 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 + +DEBT REPAYMENT +Debt balance ($) 1,596,519,826 1,574,859,723 1,551,986,655 1,527,832,695 1,502,326,113 1,475,391,163 1,446,947,855 1,416,911,722 1,385,193,566 1,351,699,193 1,316,329,135 1,278,978,354 1,239,535,929 1,197,884,729 1,153,901,061 1,107,454,308 1,058,406,536 1,006,612,089 951,917,154 894,159,302 833,167,010 768,759,150 700,744,449 628,920,926 553,075,285 472,982,288 388,404,084 299,089,500 204,773,299 105,175,391 0 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 +Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 + +DSCR (DEBT FRACTION) +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +minus: +Reserves major equipment 1 funding ($) 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 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 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 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +equals: +Cash available for debt service (CAFDS) ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 +DSCR (pre-tax) 0.0 2.17 2.19 2.22 2.24 2.27 2.28 2.28 2.23 2.24 2.36 2.39 2.42 2.44 2.46 2.47 2.44 2.36 2.51 2.56 2.59 2.62 2.64 2.65 2.64 2.59 2.60 2.73 2.76 2.79 14.79 + +RESERVES +Reserves working capital funding ($) 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 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 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 + +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 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 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves receivables funding ($) 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 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 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 + +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 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 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 2 funding ($) 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 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 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 + +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 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 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves total reserves balance ($) 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 +Interest on reserves (%/year) 1.75 +Interest earned on reserves ($) 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 +------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- diff --git a/tests/examples/Fervo_Project_Cape-5.out b/tests/examples/Fervo_Project_Cape-5.out new file mode 100644 index 000000000..8bb2ef113 --- /dev/null +++ b/tests/examples/Fervo_Project_Cape-5.out @@ -0,0 +1,452 @@ + ***************** + ***CASE REPORT*** + ***************** + +Simulation Metadata +---------------------- + GEOPHIRES Version: 3.10.24 + Simulation Date: 2026-01-06 + Simulation Time: 09:20 + Calculation Time: 1.803 sec + + ***SUMMARY OF RESULTS*** + + End-Use Option: Electricity + Average Net Electricity Production: 112.53 MW + Electricity breakeven price: 8.43 cents/kWh + Total CAPEX: 598.76 MUSD + Number of production wells: 11 + Number of injection wells: 11 + Flowrate per production well: 120.0 kg/sec + Well depth: 2.6 kilometer + Geothermal gradient: 72.23 degC/km + + + ***ECONOMIC PARAMETERS*** + + Economic Model = SAM Single Owner PPA + Real Discount Rate: 12.00 % + Nominal Discount Rate: 15.02 % + WACC: 9.58 % + Project lifetime: 30 yr + Capacity factor: 90.0 % + Project NPV: 54.25 MUSD + After-tax IRR: 22.91 % + Project VIR=PI=PIR: 1.29 + Project MOIC: 3.78 + Project Payback Period: 4.58 yr + Estimated Jobs Created: 264 + + ***ENGINEERING PARAMETERS*** + + Number of Production Wells: 11 + Number of Injection Wells: 11 + Well depth: 2.6 kilometer + Water loss rate: 15.0 % + Pump efficiency: 80.0 % + Injection temperature: 56.6 degC + Production Wellbore heat transmission calculated with Ramey's model + Average production well temperature drop: 0.4 degC + Flowrate per production well: 120.0 kg/sec + Injection well casing ID: 8.535 in + Production well casing ID: 8.535 in + Number of times redrilling: 2 + Power plant type: Supercritical ORC + + + ***RESOURCE CHARACTERISTICS*** + + Maximum reservoir temperature: 500.0 degC + Number of segments: 1 + Geothermal gradient: 72.23 degC/km + + + ***RESERVOIR PARAMETERS*** + + Reservoir Model = Multiple Parallel Fractures Model (Gringarten) + Bottom-hole temperature: 200.13 degC + Fracture model = Circular fracture with known diameter + Well separation: fracture diameter: 186.16 meter + Fracture area: 27218.40 m**2 + Reservoir volume calculated with fracture separation and number of fractures as input + Number of fractures: 4400 + Fracture separation: 7.32 meter + Reservoir volume: 875852380 m**3 + Reservoir hydrostatic pressure: 24524.09 kPa + Plant outlet pressure: 6894.76 kPa + Production wellhead pressure: 2240.80 kPa + Productivity Index: 2.49 kg/sec/bar + Injectivity Index: 3.02 kg/sec/bar + Reservoir density: 2800.00 kg/m**3 + Reservoir thermal conductivity: 3.05 W/m/K + Reservoir heat capacity: 790.00 J/kg/K + + + ***RESERVOIR SIMULATION RESULTS*** + + Maximum Production Temperature: 198.5 degC + Average Production Temperature: 198.1 degC + Minimum Production Temperature: 193.8 degC + Initial Production Temperature: 197.2 degC + Average Reservoir Heat Extraction: 781.30 MW + Production Wellbore Heat Transmission Model = Ramey Model + Average Production Well Temperature Drop: 0.4 degC + Average Injection Well Pump Pressure Drop: -1694.7 kPa + Average Production Well Pump Pressure Drop: 6122.2 kPa + + + ***CAPITAL COSTS (M$)*** + + Drilling and completion costs: 98.11 MUSD + Drilling and completion costs per well: 4.46 MUSD + Stimulation costs: 106.26 MUSD + Surface power plant costs: 304.84 MUSD + Field gathering system costs: 9.36 MUSD + Total surface equipment costs: 314.20 MUSD + Exploration costs: 30.00 MUSD + Overnight Capital Cost: 548.57 MUSD + Interest during construction: 8.23 MUSD + Inflation costs during construction: 41.97 MUSD + Total CAPEX: 598.76 MUSD + + + ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** + + Wellfield maintenance costs: 1.77 MUSD/yr + Power plant maintenance costs: 6.67 MUSD/yr + Water costs: 5.20 MUSD/yr + Redrilling costs: 13.62 MUSD/yr + Total operating and maintenance costs: 27.26 MUSD/yr + + + ***SURFACE EQUIPMENT SIMULATION RESULTS*** + + Initial geofluid availability: 0.18 MW/(kg/s) + Maximum Total Electricity Generation: 124.57 MW + Average Total Electricity Generation: 123.98 MW + Minimum Total Electricity Generation: 117.39 MW + Initial Total Electricity Generation: 122.60 MW + Maximum Net Electricity Generation: 113.13 MW + Average Net Electricity Generation: 112.53 MW + Minimum Net Electricity Generation: 105.77 MW + Initial Net Electricity Generation: 111.13 MW + Average Annual Total Electricity Generation: 977.50 GWh + Average Annual Net Electricity Generation: 887.18 GWh + Initial pumping power/net installed power: 10.32 % + Average Pumping Power: 11.46 MW + Heat to Power Conversion Efficiency: 14.40 % + + ************************************************************ + * HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ************************************************************ + YEAR THERMAL GEOFLUID PUMP NET FIRST LAW + DRAWDOWN TEMPERATURE POWER POWER EFFICIENCY + (degC) (MW) (MW) (%) + 1 1.0000 197.20 11.4709 111.1329 14.3136 + 2 1.0042 198.03 11.4637 112.4301 14.3958 + 3 1.0050 198.18 11.4624 112.6712 14.4110 + 4 1.0054 198.26 11.4617 112.7966 14.4189 + 5 1.0057 198.32 11.4613 112.8796 14.4241 + 6 1.0059 198.36 11.4609 112.9413 14.4280 + 7 1.0060 198.38 11.4607 112.9875 14.4309 + 8 1.0061 198.41 11.4604 113.0297 14.4336 + 9 1.0062 198.42 11.4605 113.0489 14.4348 + 10 1.0063 198.43 11.4606 113.0656 14.4358 + 11 1.0031 197.82 11.4826 112.0864 14.3730 + 12 0.9882 194.87 11.5853 107.4106 14.0673 + 13 1.0038 197.96 11.4575 112.3254 14.3896 + 14 1.0048 198.16 11.4540 112.6362 14.4094 + 15 1.0053 198.25 11.4491 112.7833 14.4189 + 16 1.0056 198.30 11.4444 112.8783 14.4251 + 17 1.0058 198.35 11.4410 112.9471 14.4297 + 18 1.0060 198.38 11.4392 112.9971 14.4329 + 19 1.0061 198.41 11.4383 113.0483 14.4362 + 20 1.0061 198.41 11.4388 113.0526 14.4364 + 21 1.0064 198.46 11.4378 113.1267 14.4411 + 22 1.0045 198.08 11.4517 112.5250 14.4025 + 23 0.9942 196.05 11.5236 109.2960 14.1930 + 24 1.0033 197.85 11.4383 112.1750 14.3814 + 25 1.0047 198.12 11.4383 112.6002 14.4081 + 26 1.0052 198.23 11.4384 112.7652 14.4185 + 27 1.0055 198.29 11.4384 112.8647 14.4247 + 28 1.0058 198.34 11.4384 112.9348 14.4291 + 29 1.0059 198.37 11.4385 112.9874 14.4323 + 30 1.0061 198.40 11.4383 113.0380 14.4355 + + + ******************************************************************* + * ANNUAL HEATING, COOLING AND/OR ELECTRICITY PRODUCTION PROFILE * + ******************************************************************* + YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF + PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED + (GWh/year) (GWh/year) (10^15 J) (%) + 1 883.0 6145.5 255.96 7.96 + 2 887.5 6161.2 233.78 15.93 + 3 888.8 6165.9 211.58 23.91 + 4 889.6 6168.7 189.37 31.90 + 5 890.2 6170.7 167.16 39.89 + 6 890.6 6172.2 144.94 47.88 + 7 891.0 6173.5 122.71 55.87 + 8 891.1 6174.0 100.49 63.86 + 9 891.6 6175.6 78.25 71.86 + 10 888.6 6165.4 56.06 79.84 + 11 869.6 6099.3 34.10 87.74 + 12 872.9 6110.2 12.10 95.65 + 13 887.0 6159.3 -10.07 103.62 + 14 888.7 6165.0 -32.26 111.60 + 15 889.6 6168.1 -54.47 119.59 + 16 890.2 6170.3 -76.68 127.58 + 17 890.7 6171.9 -98.90 135.57 + 18 891.1 6173.2 -121.12 143.56 + 19 891.3 6173.9 -143.35 151.55 + 20 891.7 6175.2 -165.58 159.54 + 21 890.4 6170.8 -187.80 167.53 + 22 877.5 6126.2 -209.85 175.46 + 23 865.5 6083.9 -231.75 183.34 + 24 886.4 6156.7 -253.92 191.31 + 25 888.5 6163.9 -276.11 199.29 + 26 889.5 6167.5 -298.31 207.27 + 27 890.1 6169.8 -320.52 215.26 + 28 890.6 6171.5 -342.74 223.25 + 29 891.0 6172.9 -364.96 231.24 + 30 891.3 6173.9 -387.19 239.24 + + *************************** + * SAM CASH FLOW PROFILE * + *************************** +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- + Year -2 Year -1 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 Year 7 Year 8 Year 9 Year 10 Year 11 Year 12 Year 13 Year 14 Year 15 Year 16 Year 17 Year 18 Year 19 Year 20 Year 21 Year 22 Year 23 Year 24 Year 25 Year 26 Year 27 Year 28 Year 29 Year 30 +CONSTRUCTION +Capital expenditure schedule [construction] (%) 2.0 19.60 78.40 +Overnight capital expenditure [construction] ($) -10,987,092 -107,516,544 -430,066,176 +plus: +Inflation cost [construction] ($) -296,651 -5,884,273 -35,784,380 +equals: +Nominal capital expenditure [construction] ($) -11,283,744 -113,400,817 -465,850,556 + +Issuance of equity [construction] ($) 4,513,497 45,360,327 186,340,223 +Issuance of debt [construction] ($) 6,770,246 68,040,490 279,510,334 +Debt balance [construction] ($) 6,770,246 75,487,761 362,546,871 +Debt interest payment [construction] ($) 0 677,025 7,548,776 + +Installed cost [construction] ($) -11,283,744 -114,077,842 -473,399,333 +After-tax net cash flow [construction] ($) -4,513,497 -45,360,327 -186,340,223 + +ENERGY +Electricity to grid (kWh) 0.0 883,184,349 887,625,738 888,978,845 889,779,064 890,339,789 890,759,250 891,142,427 891,273,901 891,721,558 888,791,598 869,753,476 873,085,583 887,147,067 888,798,680 889,725,546 890,360,673 890,830,714 891,221,542 891,427,460 891,795,404 890,505,166 877,641,489 865,644,852 886,574,830 888,601,189 889,604,188 890,260,368 890,743,867 891,123,389 891,417,291 +Electricity from grid (kWh) 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 0.0 0.0 0.0 +Electricity to grid net (kWh) 0.0 883,184,349 887,625,738 888,978,845 889,779,064 890,339,789 890,759,250 891,142,427 891,273,901 891,721,558 888,791,598 869,753,476 873,085,583 887,147,067 888,798,680 889,725,546 890,360,673 890,830,714 891,221,542 891,427,460 891,795,404 890,505,166 877,641,489 865,644,852 886,574,830 888,601,189 889,604,188 890,260,368 890,743,867 891,123,389 891,417,291 + +REVENUE +PPA price (cents/kWh) 0.0 9.50 9.50 9.56 9.61 9.67 9.73 9.79 9.84 9.90 9.96 10.01 10.07 10.13 10.18 10.24 10.30 10.36 10.41 10.47 10.53 10.58 10.64 10.70 10.75 10.81 10.87 10.93 10.98 11.04 11.10 +PPA revenue ($) 0 83,902,513 84,324,445 84,959,708 85,543,359 86,104,761 86,653,060 87,198,286 87,719,177 88,271,517 88,488,092 87,088,416 87,919,718 89,841,384 90,515,258 91,116,793 91,689,342 92,245,520 92,793,987 93,323,541 93,870,384 94,242,162 93,381,054 92,598,030 95,342,257 96,066,675 96,682,183 97,260,945 97,821,491 98,371,111 98,911,663 +Curtailment payment revenue ($) 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 +Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Salvage value ($) 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 0 299,380,459 +Total revenue ($) 0 83,902,513 84,324,445 84,959,708 85,543,359 86,104,761 86,653,060 87,198,286 87,719,177 88,271,517 88,488,092 87,088,416 87,919,718 89,841,384 90,515,258 91,116,793 91,689,342 92,245,520 92,793,987 93,323,541 93,870,384 94,242,162 93,381,054 92,598,030 95,342,257 96,066,675 96,682,183 97,260,945 97,821,491 98,371,111 398,292,121 + +Property tax net assessed value ($) 0 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 598,760,918 + +OPERATING EXPENSES +O&M fixed expense ($) 0 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 27,261,719 +O&M production-based expense ($) 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 +O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Fuel expense ($) 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 +Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Property tax expense ($) 0 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 1,317,274 +Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total operating expenses ($) 0 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 28,578,993 + +EBITDA ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 + +OPERATING ACTIVITIES +EBITDA ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +plus PBI if not available for debt service: +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 29,003,750 28,747,721 28,471,210 28,172,578 27,850,056 27,501,732 27,125,542 26,719,256 26,280,468 25,806,577 25,294,774 24,742,028 24,145,061 23,500,338 22,804,036 22,052,030 21,239,864 20,362,724 19,415,414 18,392,318 17,287,375 16,094,036 14,805,231 13,413,320 11,910,057 10,286,533 8,533,127 6,639,449 4,594,276 2,385,489 +Cash flow from operating activities ($) 0 26,319,770 26,997,731 27,909,505 28,791,788 29,675,712 30,572,335 31,493,751 32,420,928 33,412,056 34,102,521 33,214,648 34,598,697 37,117,329 38,435,927 39,733,764 41,058,319 42,426,663 43,852,269 45,329,134 46,899,073 48,375,793 48,708,025 49,213,806 53,349,943 55,577,624 57,816,656 60,148,824 62,603,049 65,197,841 367,327,639 + +INVESTING ACTIVITIES +Total installed cost ($) -598,760,918 +Debt closing costs ($) 0 +Debt up-front fee ($) 0 +minus: +Total IBI income ($) 0 +Total CBI income ($) 0 +equals: +Purchase of property ($) -598,760,918 +plus: +Reserve (increase)/decrease debt service ($) 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 +Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease receivables ($) 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 +Reserve (increase)/decrease major equipment 1 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve (increase)/decrease major equipment 2 ($) 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 +Reserve (increase)/decrease major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 1 ($) 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 +Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserve capital spending major equipment 3 ($) 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 +equals: +Cash flow from investing activities ($) -598,760,918 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +FINANCING ACTIVITIES +Issuance of equity ($) 236,214,047 +Size of debt ($) 362,546,871 +minus: +Debt principal payment ($) 0 3,200,358 3,456,387 3,732,898 4,031,530 4,354,052 4,702,376 5,078,566 5,484,852 5,923,640 6,397,531 6,909,334 7,462,080 8,059,047 8,703,771 9,400,072 10,152,078 10,964,244 11,841,384 12,788,694 13,811,790 14,916,733 16,110,072 17,398,878 18,790,788 20,294,051 21,917,575 23,670,981 25,564,659 27,609,832 29,818,619 +equals: +Cash flow from financing activities ($) 598,760,918 -3,200,358 -3,456,387 -3,732,898 -4,031,530 -4,354,052 -4,702,376 -5,078,566 -5,484,852 -5,923,640 -6,397,531 -6,909,334 -7,462,080 -8,059,047 -8,703,771 -9,400,072 -10,152,078 -10,964,244 -11,841,384 -12,788,694 -13,811,790 -14,916,733 -16,110,072 -17,398,878 -18,790,788 -20,294,051 -21,917,575 -23,670,981 -25,564,659 -27,609,832 -29,818,619 + +PROJECT RETURNS +Pre-tax Cash Flow: +Cash flow from operating activities ($) 0 26,319,770 26,997,731 27,909,505 28,791,788 29,675,712 30,572,335 31,493,751 32,420,928 33,412,056 34,102,521 33,214,648 34,598,697 37,117,329 38,435,927 39,733,764 41,058,319 42,426,663 43,852,269 45,329,134 46,899,073 48,375,793 48,708,025 49,213,806 53,349,943 55,577,624 57,816,656 60,148,824 62,603,049 65,197,841 367,327,639 +Cash flow from investing activities ($) -598,760,918 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 598,760,918 -3,200,358 -3,456,387 -3,732,898 -4,031,530 -4,354,052 -4,702,376 -5,078,566 -5,484,852 -5,923,640 -6,397,531 -6,909,334 -7,462,080 -8,059,047 -8,703,771 -9,400,072 -10,152,078 -10,964,244 -11,841,384 -12,788,694 -13,811,790 -14,916,733 -16,110,072 -17,398,878 -18,790,788 -20,294,051 -21,917,575 -23,670,981 -25,564,659 -27,609,832 -29,818,619 +Total pre-tax cash flow ($) 0 23,119,412 23,541,344 24,176,607 24,760,258 25,321,660 25,869,958 26,415,185 26,936,076 27,488,416 27,704,990 26,305,314 27,136,617 29,058,282 29,732,156 30,333,692 30,906,241 31,462,419 32,010,885 32,540,439 33,087,283 33,459,060 32,597,953 31,814,928 34,559,156 35,283,573 35,899,082 36,477,844 37,038,390 37,588,009 337,509,020 + +Pre-tax Returns: +Issuance of equity ($) 236,214,047 +Total pre-tax cash flow ($) 0 23,119,412 23,541,344 24,176,607 24,760,258 25,321,660 25,869,958 26,415,185 26,936,076 27,488,416 27,704,990 26,305,314 27,136,617 29,058,282 29,732,156 30,333,692 30,906,241 31,462,419 32,010,885 32,540,439 33,087,283 33,459,060 32,597,953 31,814,928 34,559,156 35,283,573 35,899,082 36,477,844 37,038,390 37,588,009 337,509,020 +Total pre-tax returns ($) -236,214,047 23,119,412 23,541,344 24,176,607 24,760,258 25,321,660 25,869,958 26,415,185 26,936,076 27,488,416 27,704,990 26,305,314 27,136,617 29,058,282 29,732,156 30,333,692 30,906,241 31,462,419 32,010,885 32,540,439 33,087,283 33,459,060 32,597,953 31,814,928 34,559,156 35,283,573 35,899,082 36,477,844 37,038,390 37,588,009 337,509,020 + +After-tax Returns: +Total pre-tax returns ($) -236,214,047 23,119,412 23,541,344 24,176,607 24,760,258 25,321,660 25,869,958 26,415,185 26,936,076 27,488,416 27,704,990 26,305,314 27,136,617 29,058,282 29,732,156 30,333,692 30,906,241 31,462,419 32,010,885 32,540,439 33,087,283 33,459,060 32,597,953 31,814,928 34,559,156 35,283,573 35,899,082 36,477,844 37,038,390 37,588,009 337,509,020 +Federal ITC total income ($) 0 179,628,275 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 +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal tax benefit (liability) ($) 0 -2,725,270 -310,768 -493,529 -670,378 -847,556 -1,027,280 -1,211,973 -1,397,821 -1,596,488 -1,734,888 -1,556,918 -1,834,344 -2,339,191 -2,603,497 -2,863,642 -3,129,143 -3,403,421 -3,689,176 -3,985,206 -4,299,893 -7,146,290 -9,763,280 -9,864,661 -10,693,729 -11,140,257 -11,589,060 -12,056,531 -12,548,468 -13,068,581 -73,628,989 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +State tax benefit (liability) ($) 0 -618,623 -70,543 -112,029 -152,172 -192,391 -233,187 -275,112 -317,298 -362,395 -393,811 -353,413 -416,387 -530,985 -590,981 -650,032 -710,300 -772,559 -837,424 -904,622 -976,054 -1,622,172 -2,216,215 -2,239,228 -2,427,422 -2,528,782 -2,630,658 -2,736,772 -2,848,439 -2,966,502 -16,713,408 +Total after-tax returns ($) -236,214,047 199,403,794 23,160,033 23,571,049 23,937,707 24,281,712 24,609,491 24,928,100 25,220,957 25,529,533 25,576,291 24,394,983 24,885,886 26,188,106 26,537,678 26,820,017 27,066,798 27,286,439 27,484,285 27,650,611 27,811,336 24,690,599 20,618,458 19,711,039 21,438,004 21,614,534 21,679,364 21,684,541 21,641,483 21,552,926 247,166,624 + +After-tax net cash flow ($) -4,513,497 -45,360,327 -186,340,223 199,403,794 23,160,033 23,571,049 23,937,707 24,281,712 24,609,491 24,928,100 25,220,957 25,529,533 25,576,291 24,394,983 24,885,886 26,188,106 26,537,678 26,820,017 27,066,798 27,286,439 27,484,285 27,650,611 27,811,336 24,690,599 20,618,458 19,711,039 21,438,004 21,614,534 21,679,364 21,684,541 21,641,483 21,552,926 247,166,624 +After-tax cumulative IRR (%) NaN NaN NaN -13.01 -4.37 2.76 8.05 11.87 14.62 16.62 18.09 19.19 20.01 20.61 21.08 21.46 21.75 21.99 22.18 22.33 22.44 22.54 22.62 22.67 22.71 22.74 22.76 22.78 22.80 22.81 22.82 22.83 22.91 +After-tax cumulative NPV ($) -4,513,497 -43,949,030 -184,790,217 -53,761,039 -40,530,263 -28,823,506 -18,487,524 -9,372,454 -1,340,986 5,731,840 11,953,079 17,427,898 22,196,334 26,150,459 29,657,288 32,865,604 35,692,094 38,175,542 40,354,478 42,264,182 43,936,486 45,399,158 46,678,173 47,665,354 48,382,047 48,977,706 49,540,934 50,034,627 50,465,124 50,839,479 51,164,292 51,445,524 54,249,400 + +AFTER-TAX LCOE AND PPA PRICE +Annual costs ($) -236,214,047 115,501,281 -61,164,413 -61,388,659 -61,605,652 -61,823,049 -62,043,569 -62,270,186 -62,498,221 -62,741,984 -62,911,800 -62,693,432 -63,033,832 -63,653,277 -63,977,580 -64,296,776 -64,622,544 -64,959,081 -65,309,702 -65,672,929 -66,059,048 -69,551,563 -72,762,597 -72,886,991 -73,904,253 -74,452,140 -75,002,819 -75,576,404 -76,180,008 -76,818,185 148,254,961 +PPA revenue ($) 0 83,902,513 84,324,445 84,959,708 85,543,359 86,104,761 86,653,060 87,198,286 87,719,177 88,271,517 88,488,092 87,088,416 87,919,718 89,841,384 90,515,258 91,116,793 91,689,342 92,245,520 92,793,987 93,323,541 93,870,384 94,242,162 93,381,054 92,598,030 95,342,257 96,066,675 96,682,183 97,260,945 97,821,491 98,371,111 98,911,663 +Electricity to grid (kWh) 0.0 883,184,349 887,625,738 888,978,845 889,779,064 890,339,789 890,759,250 891,142,427 891,273,901 891,721,558 888,791,598 869,753,476 873,085,583 887,147,067 888,798,680 889,725,546 890,360,673 890,830,714 891,221,542 891,427,460 891,795,404 890,505,166 877,641,489 865,644,852 886,574,830 888,601,189 889,604,188 890,260,368 890,743,867 891,123,389 891,417,291 + +Present value of annual costs ($) 490,394,979 +Present value of annual energy nominal (kWh) 5,818,595,945 +LCOE Levelized cost of energy nominal (cents/kWh) 8.43 + +Present value of PPA revenue ($) 570,442,790 +Present value of annual energy nominal (kWh) 5,818,595,945 +LPPA Levelized PPA price nominal (cents/kWh) 9.80 + +PROJECT STATE INCOME TAXES +EBITDA ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 +State taxable PBI income ($) 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 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State taxable IBI income ($) 0 +State taxable CBI income ($) 0 +minus: +Debt interest payment ($) 0 29,003,750 28,747,721 28,471,210 28,172,578 27,850,056 27,501,732 27,125,542 26,719,256 26,280,468 25,806,577 25,294,774 24,742,028 24,145,061 23,500,338 22,804,036 22,052,030 21,239,864 20,362,724 19,415,414 18,392,318 17,287,375 16,094,036 14,805,231 13,413,320 11,910,057 10,286,533 8,533,127 6,639,449 4,594,276 2,385,489 +Total state tax depreciation ($) 0 12,723,670 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 12,723,670 0 0 0 0 0 0 0 0 0 +equals: +State taxable income ($) 0 13,596,101 1,550,392 2,462,166 3,344,449 4,228,373 5,124,996 6,046,412 6,973,589 7,964,717 8,655,182 7,767,309 9,151,358 11,669,990 12,988,588 14,286,425 15,610,980 16,979,324 18,404,930 19,881,795 21,451,734 35,652,124 48,708,025 49,213,806 53,349,943 55,577,624 57,816,656 60,148,824 62,603,049 65,197,841 367,327,639 + +State income tax rate (frac) 0.0 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 0.05 +State tax benefit (liability) ($) 0 -618,623 -70,543 -112,029 -152,172 -192,391 -233,187 -275,112 -317,298 -362,395 -393,811 -353,413 -416,387 -530,985 -590,981 -650,032 -710,300 -772,559 -837,424 -904,622 -976,054 -1,622,172 -2,216,215 -2,239,228 -2,427,422 -2,528,782 -2,630,658 -2,736,772 -2,848,439 -2,966,502 -16,713,408 + +PROJECT FEDERAL INCOME TAXES +EBITDA ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 +Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State tax benefit (liability) ($) 0 -618,623 -70,543 -112,029 -152,172 -192,391 -233,187 -275,112 -317,298 -362,395 -393,811 -353,413 -416,387 -530,985 -590,981 -650,032 -710,300 -772,559 -837,424 -904,622 -976,054 -1,622,172 -2,216,215 -2,239,228 -2,427,422 -2,528,782 -2,630,658 -2,736,772 -2,848,439 -2,966,502 -16,713,408 +State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 +Federal taxable IBI income ($) 0 +Federal taxable CBI income ($) 0 +Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +minus: +Debt interest payment ($) 0 29,003,750 28,747,721 28,471,210 28,172,578 27,850,056 27,501,732 27,125,542 26,719,256 26,280,468 25,806,577 25,294,774 24,742,028 24,145,061 23,500,338 22,804,036 22,052,030 21,239,864 20,362,724 19,415,414 18,392,318 17,287,375 16,094,036 14,805,231 13,413,320 11,910,057 10,286,533 8,533,127 6,639,449 4,594,276 2,385,489 +Total federal tax depreciation ($) 0 12,723,670 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 25,447,339 12,723,670 0 0 0 0 0 0 0 0 0 +equals: +Federal taxable income ($) 0 12,977,478 1,479,849 2,350,137 3,192,276 4,035,982 4,891,808 5,771,301 6,656,290 7,602,322 8,261,371 7,413,896 8,734,971 11,139,005 12,397,607 13,636,392 14,900,680 16,206,765 17,567,506 18,977,173 20,475,680 34,029,952 46,491,810 46,974,578 50,922,521 53,048,842 55,185,999 57,412,053 59,754,610 62,231,340 350,614,231 + +Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 +Federal tax benefit (liability) ($) 0 -2,725,270 -310,768 -493,529 -670,378 -847,556 -1,027,280 -1,211,973 -1,397,821 -1,596,488 -1,734,888 -1,556,918 -1,834,344 -2,339,191 -2,603,497 -2,863,642 -3,129,143 -3,403,421 -3,689,176 -3,985,206 -4,299,893 -7,146,290 -9,763,280 -9,864,661 -10,693,729 -11,140,257 -11,589,060 -12,056,531 -12,548,468 -13,068,581 -73,628,989 + +CASH INCENTIVES +Federal IBI income ($) 0 +State IBI income ($) 0 +Utility IBI income ($) 0 +Other IBI income ($) 0 +Total IBI income ($) 0 + +Federal CBI income ($) 0 +State CBI income ($) 0 +Utility CBI income ($) 0 +Other CBI income ($) 0 +Total CBI income ($) 0 + +Federal PBI income ($) 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 +State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Utility PBI income ($) 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 +Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total PBI income ($) 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 + +TAX CREDITS +Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State PTC income ($) 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 + +Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 179,628,275 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 +Federal ITC total income ($) 0 179,628,275 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +State ITC amount income ($) 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 +State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +State ITC total income ($) 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 + +DEBT REPAYMENT +Debt balance ($) 362,546,871 359,346,513 355,890,126 352,157,228 348,125,698 343,771,646 339,069,269 333,990,703 328,505,851 322,582,211 316,184,680 309,275,346 301,813,266 293,754,219 285,050,449 275,650,376 265,498,298 254,534,054 242,692,671 229,903,976 216,092,186 201,175,453 185,065,381 167,666,504 148,875,716 128,581,665 106,664,091 82,993,110 57,428,451 29,818,619 0 +Debt interest payment ($) 0 29,003,750 28,747,721 28,471,210 28,172,578 27,850,056 27,501,732 27,125,542 26,719,256 26,280,468 25,806,577 25,294,774 24,742,028 24,145,061 23,500,338 22,804,036 22,052,030 21,239,864 20,362,724 19,415,414 18,392,318 17,287,375 16,094,036 14,805,231 13,413,320 11,910,057 10,286,533 8,533,127 6,639,449 4,594,276 2,385,489 +Debt principal payment ($) 0 3,200,358 3,456,387 3,732,898 4,031,530 4,354,052 4,702,376 5,078,566 5,484,852 5,923,640 6,397,531 6,909,334 7,462,080 8,059,047 8,703,771 9,400,072 10,152,078 10,964,244 11,841,384 12,788,694 13,811,790 14,916,733 16,110,072 17,398,878 18,790,788 20,294,051 21,917,575 23,670,981 25,564,659 27,609,832 29,818,619 +Debt total payment ($) 0 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 + +DSCR (DEBT FRACTION) +EBITDA ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 +minus: +Reserves major equipment 1 funding ($) 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 +Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 funding ($) 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 +Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +equals: +Cash available for debt service (CAFDS) ($) 0 55,323,520 55,745,452 56,380,715 56,964,366 57,525,768 58,074,066 58,619,293 59,140,184 59,692,524 59,909,098 58,509,422 59,340,725 61,262,390 61,936,264 62,537,800 63,110,349 63,666,527 64,214,993 64,744,547 65,291,391 65,663,168 64,802,061 64,019,036 66,763,264 67,487,681 68,103,190 68,681,952 69,242,498 69,792,117 369,713,128 +Debt total payment ($) 0 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 32,204,108 +DSCR (pre-tax) 0.0 1.72 1.73 1.75 1.77 1.79 1.80 1.82 1.84 1.85 1.86 1.82 1.84 1.90 1.92 1.94 1.96 1.98 1.99 2.01 2.03 2.04 2.01 1.99 2.07 2.10 2.11 2.13 2.15 2.17 11.48 + +RESERVES +Reserves working capital funding ($) 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 +Reserves working capital disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves working capital balance ($) 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 + +Reserves debt service funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves debt service disbursement ($) 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 +Reserves debt service balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves receivables funding ($) 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 +Reserves receivables disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves receivables balance ($) 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 + +Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 1 disbursement ($) 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 +Reserves major equipment 1 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves major equipment 2 funding ($) 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 +Reserves major equipment 2 disbursement ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 2 balance ($) 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 + +Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Reserves major equipment 3 disbursement ($) 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 +Reserves major equipment 3 balance ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 + +Reserves total reserves balance ($) 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 +Interest on reserves (%/year) 1.75 +Interest earned on reserves ($) 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 +--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- diff --git a/tests/examples/Fervo_Project_Cape-5.txt b/tests/examples/Fervo_Project_Cape-5.txt new file mode 100644 index 000000000..6ac19620b --- /dev/null +++ b/tests/examples/Fervo_Project_Cape-5.txt @@ -0,0 +1,91 @@ +# Case Study: 100 MWe EGS Project Modeled on Fervo Cape Station Phase I +# See documentation: https://softwareengineerprogrammer.github.io/GEOPHIRES/Fervo_Project_Cape-4.html + +# *** ECONOMIC/FINANCIAL PARAMETERS *** +# ************************************* +Economic Model, 5, -- SAM Single Owner PPA + +Starting Electricity Sale Price, 0.095, -- Upper end of ranges given in https://atb.nrel.gov/electricity/2024/geothermal +Electricity Escalation Rate Per Year, 0.00057, -- calibrated to reach 10 cents/kWh at project year 11 +Ending Electricity Sale Price, 1, -- Note that this value does not directly determine price at the end of the project life, but rather as a cap as the maximum price to which the starting price can escalate. +Electricity Escalation Start Year, 1 + +Discount Rate, 0.12 +Fraction of Investment in Bonds, .6, -- Based on fraction of CAPEX with $1 billion in sponsor equity per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ +Inflated Bond Interest Rate, .08 +Inflated Bond Interest Rate During Construction, 0.1, -- Higher interest rate during construction to account for increased risk of default. + +Inflation Rate, .027, -- US inflation as of December 2025 +Construction Years, 3, 2023–2028 +Construction CAPEX Schedule, 0.014,0.027,0.137,0.274,0.548 + +Investment Tax Credit Rate, 0.3 +Combined Income Tax Rate, .2555, -- Federal Corporate Income Tax Rate of 21% plus Utah Corporate Franchise and Income Tax Rate of 4.55%. (Note: This input uses a simple summation of statutory rates; the effective combined rate calculated in the model may differ due to standard federal-state tax interactions.) +Property Tax Rate, 0.0022, -- Utah Inland Port Authority (UIPA) tax differential incentive + +Capital Cost for Power Plant for Electricity Generation, 1900, -- https://betterbuildingssolutioncenter.energy.gov/sites/default/files/attachments/Waste_Heat_to_Power_Fact_Sheet.pdf +Exploration Capital Cost, 30, -- Equivalent to 2024b ATB NF-EGS conservative scenario exploration assumption of 5 full-size wells (NREL, 2025), plus $1M for geophysical and field work, plus 15% contingency, plus 12% indirect costs. + +Well Drilling Cost Correlation, 3, -- VERTICAL_LARGE (2025 NREL Geothermal Drilling Cost Curve Update) +Well Drilling and Completion Capital Cost Adjustment Factor, 0.9, -- NREL Geothermal 2024b ATB https://atb.nrel.gov/electricity/2024b/geothermal + +Reservoir Stimulation Capital Cost per Injection Well, 4 +Reservoir Stimulation Capital Cost per Production Well, 4 + +Field Gathering System Capital Cost Adjustment Factor, 0.54, -- Gathering costs represent 2% of facilities CAPEX per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ + +# *** SURFACE & SUBSURFACE TECHNICAL PARAMETERS *** +# ************************************************* +End-Use Option, 1, -- Electricity +Power Plant Type, 2, -- Supercritical ORC +Plant Lifetime, 30, -- Per https://fervoenergy.com/geothermal-mythbusting-water-use-and-impacts/ + +Reservoir Model, 1, -- Multiple Parallel Fractures (Gringarten) +Reservoir Depth, 2.5908, -- 8500 feet per https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf + +Gradient 1, 72.23, -- temperature at 8500 ft: 200 degC (https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2024/Fercho.pdf); 228.89 degC @ 9824 ft (https://doi.org/10.31223/X5VH8C) +Number of Segments, 1 + +Reservoir Density, 2800, -- per https://doi.org/10.31223/X52X0B: phyllite + quartzite + diorite + granodiorite +Reservoir Heat Capacity, 790 +Reservoir Thermal Conductivity, 3.05 +Reservoir Porosity, 0.0118 + +Productivity Index, 2.494, -- [kg/s/bar] NREL ATB conservative scenario (https://atb.nrel.gov/electricity/2024/geothermal) +Injectivity Index, 3.015, -- [kg/s/bar] NREL ATB conservative scenario (https://atb.nrel.gov/electricity/2024/geothermal) + +Reservoir Volume Option, 1, -- FRAC_NUM_SEP: Reservoir volume calculated with fracture separation and number of fractures as input +Number of Fractures per Stimulated Well, 200, -- 25 stages with 8 clusters per stage +Fracture Separation, 7.315 +Fracture Shape, 2, -- CIRCULAR_DIAMETER +Fracture Height, 186.16, -- Approximates ellipsoidal fracture with 228 meter height and 152 meter width +Number of Doublets, 11 + +Production Flow Rate per Well, 120, -- Maximum Fervo-tested flow rate +Production Well Diameter, 8.535, -- Inner diameter for 9-5/8" casing size +Injection Well Diameter, 8.535, -- Inner diameter for 9-5/8" casing size + +Ramey Production Wellbore Model, 1 +Injection Temperature, 53.6, -- GEOPHIRES model-calculated reinjection temperature +Injection Wellbore Temperature Gain, 3 + +Ambient Temperature, 11.17, -- https://www.ncei.noaa.gov/access/us-climate-normals/#dataset=normals-annualseasonal&timeframe=30&station=USC00425654 +Surface Temperature, 13, -- Project InnerSpace GeoMap https://geomap.projectinnerspace.org/test/ + +Maximum Drawdown, 0.02, -- Drawdown value that prevents minimum net electricity generation from going below 100 MWe +Water Loss Fraction, 0.15, -- Estimated to be between 10 and 20% + +Utilization Factor, .9 +Plant Outlet Pressure, 1000 psi, -- https://doi.org/10.31223/X5VH8C +Production Wellhead Pressure, 325 psi, -- https://doi.org/10.31223/X5VH8C +Circulation Pump Efficiency, 0.80 + +Well Geometry Configuration, 4, -- L +Number of Multilateral Sections, 0, -- This parameter is set to 0 because, for this case study, the cost of horizontal drilling (which would otherwise account for approximately 118 multilateral sections) is included within the 'vertical drilling cost.' This approach allows us to more directly convey the overall well drilling and completion cost, which is under $4 million. +Nonvertical Length per Multilateral Section, 4800 feet, -- Fervo presentation at Payne Institute, Dec 2, 2025 +Multilaterals Cased, True + +# *** SIMULATION PARAMETERS *** +# ***************************** +Maximum Temperature, 500 +Time steps per year, 12 diff --git a/tests/examples/example_SAM-single-owner-PPA-5.out b/tests/examples/example_SAM-single-owner-PPA-5.out index 7d3ac7f2c..ac43d7691 100644 --- a/tests/examples/example_SAM-single-owner-PPA-5.out +++ b/tests/examples/example_SAM-single-owner-PPA-5.out @@ -4,10 +4,10 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.10.22 - Simulation Date: 2025-12-15 - Simulation Time: 09:15 - Calculation Time: 1.769 sec + GEOPHIRES Version: 3.10.24 + Simulation Date: 2025-12-24 + Simulation Time: 15:35 + Calculation Time: 1.840 sec ***SUMMARY OF RESULTS*** @@ -69,9 +69,9 @@ Simulation Metadata Well separation: fracture height: 500.00 meter Fracture area: 250000.00 m**2 Reservoir volume calculated with fracture separation and number of fractures as input - Number of fractures: 1663 + Number of fractures: 1650 Fracture separation: 26.00 meter - Reservoir volume: 10803000000 m**3 + Reservoir volume: 10718500000 m**3 Reservoir hydrostatic pressure: 24578.69 kPa Plant outlet pressure: 6894.76 kPa Production wellhead pressure: 2240.80 kPa @@ -179,36 +179,36 @@ Simulation Metadata YEAR ELECTRICITY HEAT RESERVOIR PERCENTAGE OF PROVIDED EXTRACTED HEAT CONTENT TOTAL HEAT MINED (GWh/year) (GWh/year) (10^15 J) (%) - 1 859.5 5629.4 3310.87 0.61 - 2 865.7 5651.2 3290.53 1.22 - 3 867.6 5657.8 3270.16 1.83 - 4 868.8 5661.7 3249.78 2.44 - 5 869.6 5664.5 3229.38 3.05 - 6 870.2 5666.6 3208.98 3.67 - 7 870.7 5668.3 3188.58 4.28 - 8 871.1 5669.6 3168.17 4.89 - 9 871.4 5670.8 3147.75 5.51 - 10 871.7 5671.9 3127.33 6.12 - 11 872.0 5672.8 3106.91 6.73 - 12 872.2 5673.6 3086.49 7.34 - 13 872.4 5674.4 3066.06 7.96 - 14 872.6 5675.0 3045.63 8.57 - 15 872.8 5675.6 3025.20 9.18 - 16 872.9 5676.2 3004.76 9.80 - 17 873.1 5676.7 2984.33 10.41 - 18 873.2 5677.2 2963.89 11.02 - 19 873.4 5677.7 2943.45 11.64 - 20 873.5 5678.1 2923.01 12.25 - 21 873.6 5678.5 2902.56 12.87 - 22 873.7 5678.9 2882.12 13.48 - 23 873.8 5679.3 2861.67 14.09 - 24 873.9 5679.6 2841.23 14.71 - 25 874.0 5679.9 2820.78 15.32 - 26 874.1 5680.2 2800.33 15.93 - 27 874.2 5680.5 2779.88 16.55 - 28 874.3 5680.8 2759.43 17.16 - 29 874.4 5681.1 2738.98 17.78 - 30 874.4 5681.4 2718.53 18.39 + 1 859.5 5629.4 3284.81 0.61 + 2 865.7 5651.2 3264.47 1.23 + 3 867.6 5657.8 3244.10 1.84 + 4 868.8 5661.7 3223.72 2.46 + 5 869.6 5664.5 3203.33 3.08 + 6 870.2 5666.6 3182.93 3.70 + 7 870.7 5668.3 3162.52 4.31 + 8 871.1 5669.6 3142.11 4.93 + 9 871.4 5670.8 3121.70 5.55 + 10 871.7 5671.9 3101.28 6.17 + 11 872.0 5672.8 3080.86 6.78 + 12 872.2 5673.6 3060.43 7.40 + 13 872.4 5674.4 3040.00 8.02 + 14 872.6 5675.0 3019.57 8.64 + 15 872.8 5675.6 2999.14 9.26 + 16 872.9 5676.2 2978.71 9.87 + 17 873.1 5676.7 2958.27 10.49 + 18 873.2 5677.2 2937.83 11.11 + 19 873.4 5677.7 2917.39 11.73 + 20 873.5 5678.1 2896.95 12.35 + 21 873.6 5678.5 2876.51 12.97 + 22 873.7 5678.9 2856.06 13.59 + 23 873.8 5679.3 2835.62 14.20 + 24 873.9 5679.6 2815.17 14.82 + 25 874.0 5679.9 2794.72 15.44 + 26 874.1 5680.2 2774.28 16.06 + 27 874.2 5680.5 2753.83 16.68 + 28 874.3 5680.8 2733.37 17.30 + 29 874.4 5681.1 2712.92 17.92 + 30 874.4 5681.4 2692.47 18.54 *************************** * SAM CASH FLOW PROFILE * @@ -232,9 +232,9 @@ Installed cost [construction] ($) -6,132,082 -12,546,240 -44,921 After-tax net cash flow [construction] ($) -6,132,082 -12,546,240 -44,921,812 -22,977,507 -47,011,979 -48,093,255 -98,398,799 ENERGY -Electricity to grid (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,192 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 +Electricity to grid (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,191 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 Electricity from grid (kWh) 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 0.0 0.0 0.0 -Electricity to grid net (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,192 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 +Electricity to grid net (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,191 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 REVENUE PPA price (cents/kWh) 0.0 8.0 8.0 8.32 8.64 8.97 9.29 9.61 9.93 10.25 10.58 10.90 11.22 11.54 11.86 12.19 12.51 12.83 13.15 13.47 13.80 14.12 14.44 14.76 15.08 15.41 15.73 16.05 16.37 16.69 17.02 @@ -328,14 +328,14 @@ After-tax cumulative NPV ($) -6,132,082 -17,487,790 -54,288 AFTER-TAX LCOE AND PPA PRICE Annual costs ($) -280,081,674 163,885,873 -45,513,073 -46,385,473 -47,249,566 -48,114,308 -48,983,020 -49,857,494 -50,738,953 -51,628,379 -52,526,647 -53,434,591 -54,353,042 -55,282,847 -56,224,884 -57,180,074 -58,149,386 -59,133,850 -60,134,558 -61,152,671 -62,189,430 -67,252,394 -72,336,738 -73,437,733 -74,563,229 -75,714,948 -76,894,734 -78,104,556 -79,346,524 -80,622,890 179,112,172 PPA revenue ($) 0 68,759,205 69,260,654 72,207,619 75,099,377 77,968,011 80,824,249 83,672,930 86,516,616 89,356,814 92,194,478 95,030,242 97,864,549 100,697,719 103,529,986 106,361,530 109,192,487 112,022,966 114,853,053 117,682,815 120,512,311 123,341,585 126,170,676 128,999,615 131,828,431 134,657,144 137,485,776 140,314,341 143,142,854 145,971,328 148,799,249 -Electricity to grid (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,192 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 +Electricity to grid (kWh) 0.0 859,490,068 865,758,172 867,671,460 868,803,529 869,596,370 870,200,786 870,686,054 871,089,570 871,433,728 871,732,959 871,997,081 872,233,061 872,446,015 872,639,805 872,817,414 872,981,191 873,133,019 873,274,427 873,406,675 873,530,811 873,647,716 873,758,141 873,862,724 873,962,017 874,056,500 874,146,590 874,232,654 874,315,016 874,393,962 874,466,670 Present value of annual costs ($) 554,074,192 -Present value of annual energy nominal (kWh) 7,877,183,891 +Present value of annual energy nominal (kWh) 7,877,183,890 LCOE Levelized cost of energy nominal (cents/kWh) 7.03 Present value of PPA revenue ($) 809,659,354 -Present value of annual energy nominal (kWh) 7,877,183,891 +Present value of annual energy nominal (kWh) 7,877,183,890 LPPA Levelized PPA price nominal (cents/kWh) 10.28 PROJECT STATE INCOME TAXES diff --git a/tests/examples/example_SAM-single-owner-PPA-5.txt b/tests/examples/example_SAM-single-owner-PPA-5.txt index fe78ef48d..b46d60ad2 100644 --- a/tests/examples/example_SAM-single-owner-PPA-5.txt +++ b/tests/examples/example_SAM-single-owner-PPA-5.txt @@ -46,7 +46,7 @@ Plant Lifetime, 30 Reservoir Model, 1 Reservoir Volume Option, 1, -- FRAC_NUM_SEP: Reservoir volume calculated with fracture separation and number of fractures as input -Number of Fractures, 1663, -- 55 fractures per well +Number of Fractures per Stimulated Well, 55 Fracture Shape, 3, -- Square Fracture Separation, 26, diff --git a/tests/geophires_x_tests/test_fervo_project_cape_4.py b/tests/geophires_x_tests/test_fervo_project_cape_4.py index 57d9e8886..620f78f2a 100644 --- a/tests/geophires_x_tests/test_fervo_project_cape_4.py +++ b/tests/geophires_x_tests/test_fervo_project_cape_4.py @@ -1,9 +1,11 @@ from __future__ import annotations import re +import sys from typing import Any from base_test_case import BaseTestCase +from geophires_x.GeoPHIRESUtils import quantity from geophires_x.GeoPHIRESUtils import sig_figs from geophires_x.Parameter import HasQuantity from geophires_x_client import GeophiresInputParameters @@ -29,26 +31,26 @@ def test_fervo_project_cape_4_results_against_reference_values(self): max_total_gen = r.result['SURFACE EQUIPMENT SIMULATION RESULTS']['Maximum Total Electricity Generation'][ 'value' ] - self.assertGreater(max_total_gen, 600) - self.assertLess(max_total_gen, 650) + self.assertGreater(max_total_gen, 550) + self.assertLess(max_total_gen, 600) lcoe = r.result['SUMMARY OF RESULTS']['Electricity breakeven price']['value'] self.assertGreater(lcoe, 7.5) self.assertLess(lcoe, 8.5) redrills = r.result['ENGINEERING PARAMETERS']['Number of times redrilling']['value'] - self.assertGreater(redrills, 2) - self.assertLess(redrills, 7) + self.assertGreater(redrills, 1) + self.assertLess(redrills, 6) well_cost = r.result['CAPITAL COSTS (M$)']['Drilling and completion costs per well']['value'] - self.assertLess(well_cost, 4.0) - self.assertGreater(well_cost, 3.0) + self.assertLess(well_cost, 5.0) + self.assertGreater(well_cost, 4.0) pumping_power_pct = r.result['SURFACE EQUIPMENT SIMULATION RESULTS'][ 'Initial pumping power/net installed power' ]['value'] - self.assertGreater(pumping_power_pct, 13) - self.assertLess(pumping_power_pct, 17) + self.assertGreater(pumping_power_pct, 5) + self.assertLess(pumping_power_pct, 15) self.assertEqual( r.result['SUMMARY OF RESULTS']['Number of production wells']['value'], @@ -57,27 +59,50 @@ def test_fervo_project_cape_4_results_against_reference_values(self): def test_case_study_documentation(self): """ - Parses result values from case study documentation markdown and checks that they match the actual result. + Parses result values from case study documentation Markdown and checks that they match the actual result. Useful for catching when minor updates are made to the case study which need to be manually synced to the documentation. - Note: for future case studies, generate the documentation markdown from the input/result rather than writing - (entirely) by hand so that they are guaranteed to be in sync and don't need to be tested like this, + Note: for future case studies, generate the documentation Markdown from the input/result rather than writing + (partially) by hand so that they are guaranteed to be in sync and don't need to be tested like this, which has proved messy. + + Update 2026-01-07: Markdown is now partially generated from input and result in + docs/generate_fervo_project_cape_4_md.py. """ + def generate_documentation_markdown() -> None: + # Generate the markdown from template to ensure it's up to date + sys.path.insert(0, self._get_test_file_path('../../docs')) + + # noinspection PyUnresolvedReferences + from generate_fervo_project_cape_4_md import main as generate_documentation + + generate_documentation() + + generate_documentation_markdown() + documentation_file_content = '\n'.join( self._get_test_file_content('../../docs/Fervo_Project_Cape-4.md', encoding='utf-8') ) inputs_in_markdown = self.parse_markdown_inputs_structured(documentation_file_content) results_in_markdown = self.parse_markdown_results_structured(documentation_file_content) - self.assertEqual(3.96, results_in_markdown['Well Drilling and Completion Costs']['value']) - self.assertEqual('MUSD/well', results_in_markdown['Well Drilling and Completion Costs']['unit']) + expected_drilling_cost_MUSD_per_well = 4.46 + number_of_doublets = inputs_in_markdown['Number of Doublets']['value'] + number_of_wells = number_of_doublets * 2 + self.assertAlmostEqualWithinSigFigs( + expected_drilling_cost_MUSD_per_well * number_of_wells, + results_in_markdown['Well Drilling and Completion Costs']['value'], + 3, + ) + self.assertEqual('MUSD', results_in_markdown['Well Drilling and Completion Costs']['unit']) - expected_stim_cost_MUSD_per_well = 4.6 - self.assertEqual(expected_stim_cost_MUSD_per_well, results_in_markdown['Stimulation Costs']['value']) - self.assertEqual('MUSD/well', results_in_markdown['Stimulation Costs']['unit']) + expected_stim_cost_MUSD_per_well = 4.83 + self.assertAlmostEqualWithinSigFigs( + expected_stim_cost_MUSD_per_well * number_of_wells, results_in_markdown['Stimulation Costs']['value'], 3 + ) + self.assertEqual('MUSD', results_in_markdown['Stimulation Costs']['unit']) self.assertEqual( expected_stim_cost_MUSD_per_well, inputs_in_markdown['Reservoir Stimulation Capital Cost per Well']['value'] @@ -93,13 +118,13 @@ def __init__(self, vu: dict[str, Any]): self.CurrentUnits.value = vu['unit'] - capex_q = _Q(results_in_markdown['Project capital costs: Total CAPEX']).quantity() + capex_q = _Q(results_in_markdown['Total CAPEX']).quantity() markdown_capex_USD_per_kW = ( capex_q.to('USD').magnitude / _Q(results_in_markdown['Maximum Net Electricity Generation']).quantity().to('kW').magnitude ) self.assertAlmostEqual( - sig_figs(markdown_capex_USD_per_kW, 2), results_in_markdown['Project capital costs: $/kW']['value'] + sig_figs(markdown_capex_USD_per_kW, 2), results_in_markdown['Total CAPEX: $/kW']['value'] ) field_mapping = { @@ -111,7 +136,7 @@ def __init__(self, vu: dict[str, Any]): } ignore_keys = [ - 'Project capital costs: $/kW', # See https://github.com/NREL/GEOPHIRES-X/issues/391 + 'Total CAPEX: $/kW', # See https://github.com/NREL/GEOPHIRES-X/issues/391 'Total fracture surface area per production well', 'Stimulation Costs', # remapped to 'Stimulation Costs total' ] @@ -131,11 +156,6 @@ def __init__(self, vu: dict[str, Any]): if ignore_key in results_in_markdown: del results_in_markdown[ignore_key] - results_in_markdown['Well Drilling and Completion Costs']['unit'] = results_in_markdown[ - 'Well Drilling and Completion Costs' - ]['unit'].replace('/well', '') - self.assertDictAlmostEqual(example_result_values, results_in_markdown, percent=0.185) - result_capex_USD_per_kW = ( _Q(example_result._get_result_field('Total CAPEX')).quantity().to('USD').magnitude / _Q(example_result._get_result_field('Maximum Net Electricity Generation')).quantity().to('kW').magnitude @@ -147,7 +167,7 @@ def __init__(self, vu: dict[str, Any]): example_result.result['SUMMARY OF RESULTS']['Number of production wells']['value'], num_doublets ) - num_fracs_per_well = inputs_in_markdown['Number of Fractures per well']['value'] + num_fracs_per_well = inputs_in_markdown['Number of Fractures per Well']['value'] expected_total_fracs = num_doublets * 2 * num_fracs_per_well self.assertEqual( expected_total_fracs, example_result.result['RESERVOIR PARAMETERS']['Number of fractures']['value'] @@ -158,10 +178,14 @@ def __init__(self, vu: dict[str, Any]): inputs_in_markdown['Reservoir Volume']['value'], ) - expected_stim_cost_total_MUSD = expected_stim_cost_MUSD_per_well * num_doublets * 2 - self.assertEqual( + additional_expected_stim_indirect_cost_frac = 0.00 + expected_stim_cost_total_MUSD = ( + expected_stim_cost_MUSD_per_well * num_doublets * 2 * (1.0 + additional_expected_stim_indirect_cost_frac) + ) + self.assertAlmostEqualWithinSigFigs( expected_stim_cost_total_MUSD, example_result.result['CAPITAL COSTS (M$)']['Stimulation costs']['value'], + num_sig_figs=3, ) def parse_markdown_results_structured(self, markdown_text: str) -> dict: @@ -188,7 +212,7 @@ def parse_markdown_results_structured(self, markdown_text: str) -> dict: return {} # Consistency check - special_case_pattern = re.compile(r'LCOE\s*=\s*(\S+)\s*and\s*CAPEX\s*=\s*(\S+)') + special_case_pattern = re.compile(r'LCOE\s*=\s*(\S+)\s*and\s*IRR\s*=\s*(\S+)') special_case_match = special_case_pattern.search(markdown_text) if special_case_match: lcoe_text = special_case_match.group(1).rstrip('.,;') @@ -210,26 +234,35 @@ def parse_markdown_results_structured(self, markdown_text: str) -> dict: 'Minimum Net Electricity Generation', 'Maximum Net Electricity Generation', 'Number of times redrilling', - 'Project capital costs: Total CAPEX', - 'Project capital costs: $/kW', + 'Total CAPEX', + 'Total CAPEX: $/kW', 'WACC', 'Well Drilling and Completion Costs', 'Stimulation Costs', ]: structured_results[key_] = self._parse_value_unit(value_) + # Handle drilling and stimulation costs in format: "$464M total ($4.46M/well)" for result_with_total_key in ['Well Drilling and Completion Costs', 'Stimulation Costs']: entry = structured_results[result_with_total_key] unit_str = entry['unit'] - entry['unit'] = unit_str.split(';')[0] - - # This probably could/should be done with some adaptation of self._parse_value_unit, but one-off parsing - # here is fine for now... - structured_results[f'{result_with_total_key} total'] = { - 'value': float(unit_str.split('; ')[1].replace(' total', '').replace('$', '').replace('M', '')), - 'unit': entry['unit'].split('/')[0], - } + # unit_str is like "total; $4.46M/well" after _parse_value_unit processes "$464M total ($4.46M/well)" + # The entry['value'] is 464 (total MUSD) + # We need to extract per-well value from unit string + + # Parse per-well value from the parenthetical part + per_well_match = re.search(r'\$(\d+\.?\d*)M/well', unit_str) + if per_well_match: + per_well_value = float(per_well_match.group(1)) + # Store total in 'X total' key + structured_results[f'{result_with_total_key} total'] = { + 'value': entry['value'], + 'unit': 'MUSD', + } + # Update entry to be per-well value + entry['value'] = per_well_value + entry['unit'] = 'MUSD/well' return structured_results @@ -240,8 +273,8 @@ def parse_markdown_inputs_structured(self, markdown_text: str) -> dict: """ try: # Isolate the content from "## Inputs" to the next "## " header - sections = re.split(r'(^##\s.*)', markdown_text, flags=re.MULTILINE) - inputs_header_index = next(i for i, s in enumerate(sections) if s.startswith('## Inputs')) + sections = re.split(r'(^###\s.*)', markdown_text, flags=re.MULTILINE) + inputs_header_index = next(i for i, s in enumerate(sections) if s.startswith('### Inputs')) inputs_content = sections[inputs_header_index + 1] except (StopIteration, IndexError): print("Warning: '## Inputs' section not found or is empty.") @@ -271,19 +304,22 @@ def _parse_value_unit(self, raw_string: str) -> dict: """ clean_str = re.split(r'\s*\(|,(?!\s*\d)', raw_string)[0].strip() - # Case 1: LCOE format ($X.X/MWh -> cents/kWh) + if clean_str.startswith('$') and 'M total' in clean_str: + return {'value': float(clean_str.split('M total')[0][1:]), 'unit': 'MUSD'} + + # LCOE format ($X.X/MWh -> cents/kWh) match = re.match(r'^\$(\d+\.?\d*)/MWh$', clean_str) if match: value = float(match.group(1)) return {'value': round(value / 10, 2), 'unit': 'cents/kWh'} - # Case 2: Billion dollar format ($X.XB -> MUSD) + # Billion dollar format ($X.XB -> MUSD) match = re.match(r'^\$(\d+\.?\d*)B$', clean_str) if match: value = float(match.group(1)) return {'value': value * 1000, 'unit': 'MUSD'} - # Case 3: Million dollar format ($X.XM or $X.XM/unit) + # Million dollar format ($X.XM or $X.XM/unit) match = re.match(r'^\$(\d+\.?\d*)M(\/.*)?$', clean_str) if match: value = float(match.group(1)) @@ -293,32 +329,32 @@ def _parse_value_unit(self, raw_string: str) -> dict: unit = f'MUSD{unit_suffix}' return {'value': value, 'unit': unit} - # Case 4: Dollar per kW format ($X/kW -> USD/kW) + # Dollar per kW format ($X/kW -> USD/kW) match = re.match(r'^\$(\d+\.?\d*)/kW$', clean_str) if match: value = float(match.group(1)) return {'value': value, 'unit': 'USD/kW'} - # Case 5: Percentage format (X.X%) + # Percentage format (X.X%) match = re.search(r'(\d+\.?\d*)%$', clean_str) if match: value = float(match.group(1)) return {'value': value, 'unit': '%'} - # Case 6: Temperature format (X℃ -> degC) + # Temperature format (X℃ -> degC) match = re.search(r'(\d+\.?\d*)\s*℃$', clean_str) if match: value = float(match.group(1)) return {'value': value, 'unit': 'degC'} - # Case 7: Scientific notation format (X.X*10⁶ Y) + # Scientific notation format (X.X*10⁶ Y) match = re.match(r'^(\d+\.?\d*)\s*[×xX]\s*10[⁶6]\s*(.*)$', clean_str) if match: base_value = float(match.group(1)) unit = match.group(2).strip() return {'value': base_value * 1e6, 'unit': unit} - # Case 8: Generic number and unit parser + # Generic number and unit parser if clean_str.startswith('9⅝'): parts = clean_str.split(' ') value = 9.0 + 5.0 / 8.0 @@ -339,3 +375,18 @@ def _parse_value_unit(self, raw_string: str) -> dict: # Fallback for text-only values return {'value': clean_str, 'unit': 'text'} + + def test_fervo_project_cape_5(self) -> None: + """ + Fervo_Project_Cape-5 is derived from Fervo_Project_Cape-4 - see tests/regenerate-example-result.sh + """ + + fpc5_result: GeophiresXResult = GeophiresXResult( + self._get_test_file_path('../examples/Fervo_Project_Cape-5.out') + ) + min_net_gen_dict = fpc5_result.result['SURFACE EQUIPMENT SIMULATION RESULTS'][ + 'Minimum Net Electricity Generation' + ] + fpc5_min_net_gen_mwe = quantity(min_net_gen_dict['value'], min_net_gen_dict['unit']).to('MW').magnitude + self.assertGreater(fpc5_min_net_gen_mwe, 100) + self.assertLess(fpc5_min_net_gen_mwe, 110) diff --git a/tests/geophires_x_tests/test_well_bores.py b/tests/geophires_x_tests/test_well_bores.py index 7db431f1b..30b2ebace 100644 --- a/tests/geophires_x_tests/test_well_bores.py +++ b/tests/geophires_x_tests/test_well_bores.py @@ -82,6 +82,50 @@ def test_number_of_doublets_non_integer(self): self.assertEqual(prod_inj_lcoe_2[0], 199) self.assertEqual(prod_inj_lcoe_2[1], 199) + def test_number_of_injection_wells_per_production_well(self): + r_ratio: GeophiresXResult = self._get_result( + { + 'Number of Production Wells': 63, + 'Number of Injection Wells per Production Well': 0.666, # 3:2 ratio + } + ) + + r_explicit_counts: GeophiresXResult = self._get_result( + {'Number of Production Wells': 63, 'Number of Injection Wells': 42} + ) + + self.assertEqual(self._prod_inj_lcoe_production(r_explicit_counts), self._prod_inj_lcoe_production(r_ratio)) + + self.assertEqual( + self._prod_inj_lcoe_production( + self._get_result( + { + 'Number of Production Wells': 2, # default value + 'Number of Injection Wells per Production Well': 3, + } + ) + ), + self._prod_inj_lcoe_production(self._get_result({'Number of Injection Wells per Production Well': 3})), + ) + + with self.assertRaises(RuntimeError): + self._get_result( + { + 'Number of Production Wells': 63, + 'Number of Injection Wells per Production Well': 0.6666, # 3:2 ratio + 'Number of Injection Wells': 42, + } + ) + + with self.assertRaises(RuntimeError): + self._get_result( + { + 'Number of Production Wells': 63, + 'Number of Injection Wells per Production Well': 0.6666, # 3:2 ratio + 'Number of Doublets': 52, + } + ) + # noinspection PyMethodMayBeStatic def _get_result(self, _params) -> GeophiresXResult: params = GeophiresInputParameters( diff --git a/tests/regenerate-example-result.env.template b/tests/regenerate-example-result.env.template new file mode 100644 index 000000000..530681cb3 --- /dev/null +++ b/tests/regenerate-example-result.env.template @@ -0,0 +1 @@ +# export GEOPHIRES_FPC4_SENSITIVITY_ANALYSIS_PROJECT_ROOT= diff --git a/tests/regenerate-example-result.sh b/tests/regenerate-example-result.sh index faef5cee3..ffaebbe39 100755 --- a/tests/regenerate-example-result.sh +++ b/tests/regenerate-example-result.sh @@ -1,5 +1,7 @@ #!/bin/zsh +set -e +cd "$(dirname "$0")" # Use this script to regenerate example results in cases where changes in GEOPHIRES # calculations alter the example test output. Example: @@ -9,7 +11,6 @@ # Note: make sure your virtualenv is activated before running or this script will fail # or generate incorrect results. -cd "$(dirname "$0")" python -mgeophires_x examples/$1.txt examples/$1.out rm examples/$1.json @@ -18,3 +19,35 @@ then echo "Updating CSV..." python regenerate_example_result_csv.py example1_addons fi + +if [[ $1 == "Fervo_Project_Cape-4" ]] +then + python ../docs/generate_fervo_project_cape_4_md.py + + echo "Regenerating Fervo_Project_Cape-5..." + # TODO synchronize replacement matching with Fervo_Project_Cape-4 values + sed -e 's/Construction Years, 5/Construction Years, 3/' \ + -e 's/Number of Doublets, 52/Number of Doublets, 11/' \ + -e 's/500 MWe/100 MWe/' \ + -e 's/Phase II/Phase I/' \ + examples/Fervo_Project_Cape-4.txt > examples/Fervo_Project_Cape-5.txt + + python -mgeophires_x examples/Fervo_Project_Cape-5.txt examples/Fervo_Project_Cape-5.out + rm examples/Fervo_Project_Cape-5.json + + if [ ! -f regenerate-example-result.env ] && [ -f regenerate-example-result.env.template ]; then + echo "Creating regenerate-example-result.env from template..." + cp regenerate-example-result.env.template regenerate-example-result.env + fi + + source regenerate-example-result.env + if [ -n "$GEOPHIRES_FPC4_SENSITIVITY_ANALYSIS_PROJECT_ROOT" ]; then + echo "Updating sensitivity analysis..." + STASH_PWD=$(pwd) + cd $GEOPHIRES_FPC4_SENSITIVITY_ANALYSIS_PROJECT_ROOT + source venv/bin/activate + python -m fpc4_sensitivity_analysis + deactivate + cd $STASH_PWD + fi +fi diff --git a/tox.ini b/tox.ini index ce5b99e78..ea862bc5c 100644 --- a/tox.ini +++ b/tox.ini @@ -38,6 +38,7 @@ usedevelop = false deps = pytest pytest-cov + Jinja2 commands = {posargs:pytest --cov --cov-report=term-missing --cov-report=xml -vv tests} @@ -61,8 +62,10 @@ deps = -r{toxinidir}/docs/requirements.txt commands = python src/geophires_x_schema_generator/main.py --build-path docs/ + python docs/generate_fervo_project_cape_4_md.py sphinx-build {posargs:-E} -b html docs dist/docs sphinx-build docs dist/docs + python -c "import shutil; shutil.copytree('docs/_images', 'dist/docs/_images', dirs_exist_ok=True)" ; TODO re-enable linkcheck probably - `sphinx-build -b linkcheck docs dist/docs` [testenv:report]