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[null,null,"ACTIVAR MACRO PARA ACCEDER AL CONTENIDO"]

{"sheet":"Global Financial Model","index":1,"n_rows":125,"n_cols":46,"rows_kept":125,"cut":false,"hidden":true,"merged":[[3,1,6,1],[34,2,34,8]]}
[]
[]
[]
[null,"Legenda","Dato de entrada"]
[null,null,"Celda llave"]
[null,null,"Error"]
[null,null,"Dato calculado"]
[]
[]
[null,"DATOS"]
[null,"Inversion inicial (USD 2015)",48775148.320868559]
[null,"Inversion inicial con inflacion (USD valor nominal)",50604324.169698045]
[null,"Inflacion sobre inversion inicial (USD valor nominal)",1829175.8488294855]
[null,"Locales comerciales (m2)",500]
[null,"Alquiler mensual de locales comerciales ($/m2)",20]
[null,"Depreciation de activos "]
[null,"Duracion de vida infinida",0.21376957901231036,"de los activos"]
[null,"Duracion de vida de 50 años",0.35463331769821127,"de los activos"]
[null,"Duracion de vida de 40 años",0.32430865787433183,"de los activos"]
[null,"Duracion de vida de 15 años",0.10416056794442816,"de los activos"]
[null,"Duracion de vida de 10 años",8.2864192750210452E-2,"de los activos"]
[null,"Duracion de vida de 5 años",7.6713416617465715E-3,"de los activos"]
[null,"Renta concesional",0,"de la Utilitad neta de operacion antes de impuestos"]
[null,"Impuesto a la renta",0.35,"Impuesto a la renta para sociedades en Ecuador"]
[null,"Hipotesis general de Inflacion 2019 - 2050 ",0.02]
[null,"Tasa de actualizacion",0.13]
[]
[]
[null,null,"Tarifa (USD 2019)"]
[null,null,"1,00$"]
[null,"TRI 30 años",{"$f":"AJ104","v":{"$error":"#NUM!"}}]
[null,"VAN 30 años",{"$f":"AJ116","v":-44618264.124443091}]
[]
[]
[null,null,"Tarifa de 1,00$ (USD 2019)"]
[null,null,2020,2025,2030,2035,2040,2045,2050]
[null,"Ratio de cobertura (Ingresos / Egresos) de la operacion",{"$f":"H112","v":0.50928952340664357},{"$f":"M112","v":0.54833012902056577},{"$f":"R112","v":0.57487212730376103},{"$f":"W112","v":0.6343524477341933},{"$f":"AB112","v":0.69431667559098464},{"$f":"AG112","v":0.69290102504606077},{"$f":"AL112","v":0.66621557653689345}]
[null,"Margen neta de la operacion",{"$f":"H113","v":-0.49071047659335643},{"$f":"M113","v":-0.45166987097943423},{"$f":"R113","v":-0.42512787269623897},{"$f":"W113","v":-0.3656475522658067},{"$f":"AB113","v":-0.30568332440901536},{"$f":"AG113","v":-0.30709897495393923},{"$f":"AL113","v":-0.33378442346310655}]
[]
[]
[]
[]
[]
[]
[null,"Año",2015,2016,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026,2027,2028,2029,2030,2031,2032,2033,2034,2035,2036,2037,2038,2039,2040,2041,2042,2043,2044,2045,2046,2047,2048,2049,2050,2051,2052,2053,2054,2055,2056,2057,2058]
[null,null,"Y0","Y1","Y2","Y3","Y4","Y5","Y6","Y7","Y8","Y9","Y10","Y11","Y12","Y13","Y14","Y15","Y16","Y17","Y18","Y19","Y20","Y21","Y22","Y23","Y24","Y25","Y26","Y27","Y28","Y29","Y30","Y31","Y32","Y33","Y34","Y35","Y36","Y37","Y38","Y39","Y40","Y41","Y42","Y43"]
[null,null,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40,41,42,43]
[null,null,0,0,0,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34,35,36,37,38,39,40]
[]
[null,"DATOS PROYECTADOS"]
[null,"Costos anuales de O&M",0,0,0,0,2408373.4333654698,2475724.20411496,2535175.8995964462,2596077.0392713598,4785830.953720307,2722371.9091007602,2787840.0358576458,2854906.4461518228,2923610.7107882928,5331437.7862291681,3066096.0746544697,3139961.3801125558,3215633.0047457665,3293155.7411398049,5940842.6329085147,3453939.3747496242,3537295.5989272944,3622693.6482562213,3710184.2355513703,6621703.8447799217,3891652.287643618,3985737.6887442963,4082131.5679473653,4180891.3513726769,7382623.5638480373,4385745.607534782,4491962.3163532941,4600789.4782554163,4712292.1333471388,8233267.0368361529,4943592.3322807439,5063528.3319489229,5186416.8235863866,5312331.484352041,9184497.3805371504,5573543.3800762752,5708997.4716513716,5847791.5445794528,5990009.0753587466,10248527.845031545]
[null,"Trafico anual",0,0,0,0,1748250,2331000,2369045.4040715606,2407090.8081431217,2445136.2122146823,2483181.6162862433,2521227.0203578039,2570529.9198025907,2619832.819247378,2669135.7186921649,2718438.6181369522,2767741.5175817399,2831378.2078963607,2895014.8982109809,2958651.5885256017,3022288.2788402219,3085924.9691548422,3177777.297964219,3269629.6267735963,3361481.9555829726,3453334.2843923499,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267,3545186.6132017267]
[null,"Ingresos de pasajeros (valor actualizado)",0,0,0,0,853845.29999999993,1138460.3999999999,1209687.1761269092,1229114.0040538183,1298981.8815927492,1319193.5533679058,1393517.1962388419,1420767.5936231264,1506517.9178441095,1534869.2312827194,1626374.6547280704,1655871.3612295999,1762378.9429052516,1801989.3215872275,1916000.3281600801,1957210.9661408074,2079157.8369280451,2141043.816397083,2291928.159619113,2356314.3326586997,2518496.8061284968,2585484.1805588836,2689937.7414534623,2689937.7414534623,2798611.2262081816,2798611.2262081816,2911675.1197469924,2911675.1197469924,3029306.7945847707,3029306.7945847707,3151690.7890859954,3151690.7890859954,3279019.0969650694,3279019.0969650694,3411491.4684824594,3411491.4684824594,3549315.72380915,3549315.72380915,3692708.0790510401,3692708.0790510401]
[null,"Alquiler de areas comerciales (valor actualizado)",0,0,0,0,{"$f":"$C$14*$C$15*12","v":120000},{"$f":"$G$54*((1+$C$25)^G48)","v":122400},124848,127344.95999999999,129891.85919999999,132489.69638400001,135139.49031168001,137842.28011791359,140599.12572027187,143411.10823467729,146279.33039937084,149204.91700735825,152189.01534750542,155232.79565445552,158337.45156754466,161504.20059889552,164734.28461087344,168028.97030309093,171389.54970915272,174817.34070333577,178313.68751740252,181879.96126775054,185517.56049310556,189227.91170296766,193012.469937027,196872.71933576756,200810.17372248293,204826.37719693253,208922.90474087122,213101.36283568863,217363.39009240241,221710.65789425041,226144.87105213548,230667.76847317821,235281.12384264174,239986.74631949456,244786.48124588444,249682.21087080217,254675.85508821823,259769.3721899825]
[]
[null,"Activos iniciales - Depreciacion 50 años",0,0,0,0,{"$f":"SUM($C$96:$F$96)*$C$18/50","v":-358919.58740351594},-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594,-358919.58740351594]
[null,"Activos iniciales - Depreciacion 40 años",0,0,0,0,{"$f":"SUM($C$96:$F$96)*$C$19/40","v":-410285.51135280961},-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961,-410285.51135280961]
[null,"Activos iniciales - Depreciacion 15 años",0,0,0,0,{"$f":"SUM($C$96:$F$96)*$C$20/15","v":-351398.34306398011},-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,-351398.34306398011,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Activos iniciales - Depreciacion 10 años",0,0,0,0,{"$f":"SUM($C$96:$F$96)*$C$21/10","v":-419328.64719919919},-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,-419328.64719919919,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Activos iniciales - Depreciacion 5 años",0,0,0,0,{"$f":"SUM($C$96:$F$96)*$C$22/5","v":-77640.612053506717},{"$f":"SUM($C$96:$F$96)*$C$22/5","v":-77640.612053506717},{"$f":"SUM($C$96:$F$96)*$C$22/5","v":-77640.612053506717},{"$f":"SUM($C$96:$F$96)*$C$22/5","v":-77640.612053506717},{"$f":"SUM($C$96:$F$96)*$C$22/5","v":-77640.612053506717},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Activos iniciales - Valor residual",0,0,0,0,{"$f":"-(SUM(C96:F96))+SUM(G56:G60)","v":48986751.468625031},{"$f":"G61+SUM(H56:H60)","v":47369178.767552018},{"$f":"H61+SUM(I56:I60)","v":45751606.066479005},44134033.365405992,42516460.664332978,40976528.575313471,39436596.486293964,37896664.397274457,36356732.30825495,34816800.219235443,33696196.777415134,32575593.335594829,31454989.893774524,30334386.451954219,29213783.010133915,28444577.91137759,27675372.812621266,26906167.713864941,26136962.615108617,25367757.516352292,24598552.417595968,23829347.318839643,23060142.220083319,22290937.121326994,21521732.02257067,20752526.923814345,19983321.825058021,19214116.726301696,18444911.627545372,17675706.528789047,16906501.430032723,16137296.331276396,15368091.23252007,14598886.133763744,13829681.035007417,13060475.936251091,12291270.837494764,11522065.738738438,10752860.639982112,9983655.5412257854]
[null,"Activos nuevos 1 - Depreciacion 10 años",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM($P$97:$Q$97)/10","v":-512881.82208300103},{"$f":"SUM($P$97:$Q$97)/10","v":-512881.82208300103},-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,-512881.82208300103,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Activos nuevos 1 - Valor residual",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-SUM(P97:Q97)","v":5128818.2208300103},{"$f":"R63+S62","v":4615936.3987470092},{"$f":"S63+T62","v":4103054.5766640082},3590172.7545810072,3077290.9324980062,2564409.1104150051,2051527.2883320041,1538645.4662490031,1025763.6441660021,512881.82208300103,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"Activos nuevos 2 - Depreciacion 15 años",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM($U$97:$W$97)/15","v":-493445.51992440288},-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,-493445.51992440288,0,0,{"$f":"-$C$16*AN65","v":0},0,0,0,0,0]
[null,"Activos nuevos 2 - Valor residual",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-(SUM($U$97:$W$97))+X64","v":6908237.2789416397},{"$f":"X65+Y64","v":6414791.7590172365},{"$f":"Y65+Z64","v":5921346.2390928334},5427900.7191684302,4934455.199244027,4441009.6793196239,3947564.1593952212,3454118.6394708185,2960673.1195464157,2467227.599622013,1973782.0796976101,1480336.5597732072,986891.03984880424,493445.51992440136,-1.5133991837501526E-9,0,0,{"$f":"AN65+AO64","v":0},0,0,0,0,0]
[null,"Activos nuevos 3 - Depreciacion 10 años",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM($AA$97:$AB$97)/10","v":-636425.03942540125},{"$f":"SUM($AA$97:$AB$97)/10","v":-636425.03942540125},-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,-636425.03942540125,0,{"$f":"-$C$16*AN67","v":0},0,0,0,0,0]
[null,"Activos nuevos 3 - Valor residual",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-SUM(AA97:AB97)","v":6364250.394254013},{"$f":"AC67+AD66","v":5727825.3548286119},{"$f":"AD67+AE66","v":5091400.3154032109},4454975.2759778099,3818550.2365524089,3182125.1971270079,2545700.1577016069,1909275.1182762056,1272850.0788508044,636425.03942540311,1.862645149230957E-9,0,{"$f":"AN67+AO66","v":0},0,0,0,0,0]
[null,"Activos nuevos 4 - Depreciacion 15 años",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM($AL$97:$AN$97)/14","v":-1270882.0501199237},{"$f":"SUM($AL$97:$AN$97)/14","v":-1270882.0501199237},-1270882.0501199237,-1270882.0501199237,-1270882.0501199237,-1270882.0501199237]
[null,"Activos nuevos 4 - Valor residual",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-(SUM(AL97:AN97))-AO68","v":19063230.751798857},{"$f":"AO69+AP68","v":17792348.701678932},{"$f":"AP69+AQ68","v":16521466.651559008},15250584.601439085,13979702.551319161,12708820.501199238]
[null,"Depreciacion de activos",0,0,0,0,{"$f":"SUM(G56:G60)+G62+G64+G66+G68","v":-1617572.7010730116},{"$f":"SUM(H56:H60)+H62+H64+H66+H68","v":-1617572.7010730116},-1617572.7010730116,-1617572.7010730116,-1617572.7010730116,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1120603.4418203058,-1633485.2639033068,-1633485.2639033068,-1633485.2639033068,-1633485.2639033068,-1282086.9208393265,-1282086.9208393265,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1405630.1381817269,-769205.09875632555,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493]
[null,"Valor residual de activos",{"$f":"C61+C65+C69","v":0},{"$f":"D61+D65+D69","v":0},0,0,{"$f":"G61+G63+G65+G67+G69","v":48986751.468625031},{"$f":"H61+H63+H65+H67+H69","v":47369178.767552018},45751606.066479005,44134033.365405992,42516460.664332978,40976528.575313471,39436596.486293964,37896664.397274457,36356732.30825495,34816800.219235443,33696196.777415134,37704411.556424841,36070926.292521536,34437441.028618231,32803955.764714923,31521868.843875594,30239781.92303627,35865932.281138584,34090399.840374857,32314867.39961113,30539334.958847396,28763802.518083669,33865402.293656953,31966326.635550827,30067250.977444701,28168175.319338571,26269099.661232442,24370024.003126312,22470948.345020186,20571872.686914057,18672797.028807931,16773721.370701797,15368091.232520072,14598886.133763744,32892911.786806274,30852824.637930021,28812737.489053771,26772650.340177521,24732563.191301271,22692476.042425022]
[]
[]
[null,"A. GASTOS "]
[null,"1. Costos anuales de O&M",0,0,0,0,{"$f":"-G51","v":-2408373.4333654698},{"$f":"-H51","v":-2475724.20411496},-2535175.8995964462,-2596077.0392713598,-4785830.953720307,-2722371.9091007602,-2787840.0358576458,-2854906.4461518228,-2923610.7107882928,-5331437.7862291681,-3066096.0746544697,-3139961.3801125558,-3215633.0047457665,-3293155.7411398049,-5940842.6329085147,-3453939.3747496242,-3537295.5989272944,-3622693.6482562213,-3710184.2355513703,-6621703.8447799217,-3891652.287643618,-3985737.6887442963,-4082131.5679473653,-4180891.3513726769,-7382623.5638480373,-4385745.607534782,-4491962.3163532941,-4600789.4782554163,-4712292.1333471388,-8233267.0368361529,-4943592.3322807439,-5063528.3319489229,-5186416.8235863866,-5312331.484352041,-9184497.3805371504,-5573543.3800762752,-5708997.4716513716,-5847791.5445794528,-5990009.0753587466,-10248527.845031545]
[null,"Gasto totale",null,null,null,null,{"$f":"G75","v":-2408373.4333654698},{"$f":"H75","v":-2475724.20411496},-2535175.8995964462,-2596077.0392713598,-4785830.953720307,-2722371.9091007602,-2787840.0358576458,-2854906.4461518228,-2923610.7107882928,-5331437.7862291681,-3066096.0746544697,-3139961.3801125558,-3215633.0047457665,-3293155.7411398049,-5940842.6329085147,-3453939.3747496242,-3537295.5989272944,-3622693.6482562213,-3710184.2355513703,-6621703.8447799217,-3891652.287643618,-3985737.6887442963,-4082131.5679473653,-4180891.3513726769,-7382623.5638480373,-4385745.607534782,-4491962.3163532941,-4600789.4782554163,-4712292.1333471388,-8233267.0368361529,-4943592.3322807439,-5063528.3319489229,-5186416.8235863866,-5312331.484352041,-9184497.3805371504,-5573543.3800762752,-5708997.4716513716,-5847791.5445794528,-5990009.0753587466,-10248527.845031545]
[]
[null,"B. INGRESOS"]
[null,"1. Ingresos de pasajeros",0,0,0,0,{"$f":"G53","v":853845.29999999993},1138460.3999999999,1209687.1761269092,1229114.0040538183,1298981.8815927492,1319193.5533679058,1393517.1962388419,1420767.5936231264,1506517.9178441095,1534869.2312827194,1626374.6547280704,1655871.3612295999,1762378.9429052516,1801989.3215872275,1916000.3281600801,1957210.9661408074,2079157.8369280451,2141043.816397083,2291928.159619113,2356314.3326586997,2518496.8061284968,2585484.1805588836,2689937.7414534623,2689937.7414534623,2798611.2262081816,2798611.2262081816,2911675.1197469924,2911675.1197469924,3029306.7945847707,3029306.7945847707,3151690.7890859954,3151690.7890859954,3279019.0969650694,3279019.0969650694,3411491.4684824594,3411491.4684824594,3549315.72380915,3549315.72380915,3692708.0790510401,3692708.0790510401]
[null,"2. Ingresos comerciales",0,0,0,0,120000,122400,124848,127344.95999999999,129891.85919999999,132489.69638400001,135139.49031168001,137842.28011791359,140599.12572027187,143411.10823467729,146279.33039937084,149204.91700735825,152189.01534750542,155232.79565445552,158337.45156754466,161504.20059889552,164734.28461087344,168028.97030309093,171389.54970915272,174817.34070333577,178313.68751740252,181879.96126775054,185517.56049310556,189227.91170296766,193012.469937027,196872.71933576756,200810.17372248293,204826.37719693253,208922.90474087122,213101.36283568863,217363.39009240241,221710.65789425041,226144.87105213548,230667.76847317821,235281.12384264174,239986.74631949456,244786.48124588444,249682.21087080217,254675.85508821823,259769.3721899825]
[null,"Ingreso totale",0,0,0,0,{"$f":"G79+G80","v":973845.29999999993},{"$f":"H79+H80","v":1260860.3999999999},1334535.1761269092,1356458.9640538183,1428873.7407927492,1451683.2497519059,1528656.6865505218,1558609.87374104,1647117.0435643813,1678280.3395173966,1772653.9851274411,1805076.2782369582,1914567.9582527571,1957222.117241683,2074337.7797276247,2118715.1667397027,2243892.1215389185,2309072.7867001737,2463317.7093282659,2531131.6733620353,2696810.4936458995,2767364.1418266343,2875455.3019465678,2879165.65315643,2991623.6961452086,2995483.945543949,3112485.2934694751,3116501.496943925,3238229.6993256421,3242408.1574204592,3369054.1791783976,3373401.4469802459,3505163.9680172047,3509686.8654382476,3646772.5923251011,3651478.2148019541,3794102.2050550347,3798997.9346799525,3947383.9341392582,3952477.4512410224]
[]
[null,"Flujo de caja neto (Ingreso total - Gasto total)",null,null,null,null,{"$f":"G81+G76","v":-1434528.13336547},{"$f":"H81+H76","v":-1214863.8041149601},-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-3653157.4467117712,-1293442.0895270286,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-3866504.85318089,-1335224.2080099215,-1293403.4773883759,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-1194841.7939977185,-1218373.546917662,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937,-1574538.1531023462,-1690126.8849686771,-1681252.855569182,-1802644.6189137935,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,-6296050.3937905226]
[]
[null,"C. FLUJO DE CAJA DE OPERACION"]
[null,"1. Utilitad antes de impuestos",0,0,0,0,{"$f":"G83","v":-1434528.13336547},{"$f":"H83","v":-1214863.8041149601},-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-3653157.4467117712,-1293442.0895270286,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-3866504.85318089,-1335224.2080099215,-1293403.4773883759,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-1194841.7939977185,-1218373.546917662,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937,-1574538.1531023462,-1690126.8849686771,-1681252.855569182,-1802644.6189137935,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,-6296050.3937905226]
[null,"2. Renta concessional",0,0,0,0,{"$f":"IF(G86>0,-$C$23*G86,0)","v":0},{"$f":"IF(H86>0,-$C$23*H86,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"3. Depreciation",0,0,0,0,{"$f":"G70","v":-1617572.7010730116},{"$f":"H70","v":-1617572.7010730116},-1617572.7010730116,-1617572.7010730116,-1617572.7010730116,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1539932.0890195048,-1120603.4418203058,-1633485.2639033068,-1633485.2639033068,-1633485.2639033068,-1633485.2639033068,-1282086.9208393265,-1282086.9208393265,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1775532.4407637294,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1899075.6581061296,-1405630.1381817269,-769205.09875632555,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493,-2040087.1488762493]
[null,"4. Base imponible ( 1-2-3)",0,0,0,0,{"$f":"G86+G87+G88","v":-3052100.8344384814},-2832436.5051879715,-2818213.4245425486,-2857190.7762905532,-4974529.9140005689,-2810620.7483683592,-2799115.4383266289,-2836228.6614302876,-2816425.7562434161,-5193089.5357312765,-2414045.5313473344,-2968370.3657789044,-2934550.3103963165,-2969418.8878014288,-5499990.1170841968,-2617311.1288492479,-2575490.3982277024,-3089153.3023197772,-3022398.9669868341,-5866104.612181616,-2970374.2347614476,-2993905.9876813916,-3105751.9241069271,-3200801.3563223765,-6290075.5258089583,-3289337.3200969626,-3278552.6809899486,-3383363.6394176208,-3373138.0921276263,-6889934.5375218233,-3473613.8112084758,-3589202.5430748067,-3086882.9937509089,-2571849.7176701189,-7577811.9370882995,-3962152.3141505704,-3954982.4154725862,-4088880.7587757497,-4082712.2900957377,-8336137.5426667724]
[null,"5. Impuesta a la renta",0,0,0,0,{"$f":"IF(G89>0,-$C$24*G89,0)","v":0},{"$f":"IF(H89>0,-$C$24*H89,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,"6. Utilidad despues de impuestos",0,0,0,0,{"$f":"G89+G90","v":-3052100.8344384814},{"$f":"H89+H90","v":-2832436.5051879715},-2818213.4245425486,-2857190.7762905532,-4974529.9140005689,-2810620.7483683592,-2799115.4383266289,-2836228.6614302876,-2816425.7562434161,-5193089.5357312765,-2414045.5313473344,-2968370.3657789044,-2934550.3103963165,-2969418.8878014288,-5499990.1170841968,-2617311.1288492479,-2575490.3982277024,-3089153.3023197772,-3022398.9669868341,-5866104.612181616,-2970374.2347614476,-2993905.9876813916,-3105751.9241069271,-3200801.3563223765,-6290075.5258089583,-3289337.3200969626,-3278552.6809899486,-3383363.6394176208,-3373138.0921276263,-6889934.5375218233,-3473613.8112084758,-3589202.5430748067,-3086882.9937509089,-2571849.7176701189,-7577811.9370882995,-3962152.3141505704,-3954982.4154725862,-4088880.7587757497,-4082712.2900957377,-8336137.5426667724]
[null,"7.Depreciacion (agrego)",0,0,0,0,{"$f":"-G88","v":1617572.7010730116},{"$f":"-H88","v":1617572.7010730116},1617572.7010730116,1617572.7010730116,1617572.7010730116,1539932.0890195048,1539932.0890195048,1539932.0890195048,1539932.0890195048,1539932.0890195048,1120603.4418203058,1633485.2639033068,1633485.2639033068,1633485.2639033068,1633485.2639033068,1282086.9208393265,1282086.9208393265,1775532.4407637294,1775532.4407637294,1775532.4407637294,1775532.4407637294,1775532.4407637294,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1899075.6581061296,1405630.1381817269,769205.09875632555,2040087.1488762493,2040087.1488762493,2040087.1488762493,2040087.1488762493,2040087.1488762493,2040087.1488762493]
[null,"Flujo de caja de operacion (6+7)",null,null,null,null,{"$f":"G91+G92","v":-1434528.1333654698},{"$f":"H91+H92","v":-1214863.8041149599},-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239113,-3653157.4467117717,-1293442.0895270286,-1334885.1018755976,-1301065.0464930097,-1335933.623898122,-3866504.85318089,-1335224.2080099215,-1293403.4773883759,-1313620.8615560478,-1246866.5262231047,-4090572.1714178864,-1194841.7939977183,-1218373.5469176623,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937,-1574538.1531023462,-1690126.8849686771,-1681252.855569182,-1802644.6189137935,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,-6296050.3937905226]
[]
[null,"D. FLUJO DE CAJA DE INVERSION"]
[null," 1. Inversion inicial",-2474832.0622631833,-10641923.4557693,-25777802.932009656,-11709765.719655903]
[null," 2. Nuevos equipos",null,null,null,null,0,0,0,0,0,0,0,0,0,-2287867.8715085625,-2840950.3493214482,0,0,0,-1468451.9507871973,-3818661.298967428,-2114569.5491114175,0,0,0,-2838968.0523294089,-3525282.341924604,0,0,0,0,0,0,0,0,0,-5550097.9413990155,-9401062.8552176859,-2841187.9050622322,0,0,0,0,0,0]
[null," 3. Valor residual despues tasas",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"AJ71","v":20571872.686914057},null,null,null,null,null,null,null,null,null,{"$f":"AT71","v":22692476.042425022}]
[null,"Flujo de caja del capital",{"$f":"C96+C97+C98","v":-2474832.0622631833},-10641923.4557693,-25777802.932009656,-11709765.719655903,0,0,0,0,0,0,0,0,0,-2287867.8715085625,-2840950.3493214482,0,0,0,-1468451.9507871973,-3818661.298967428,-2114569.5491114175,0,0,0,-2838968.0523294089,-3525282.341924604,0,0,0,0,0,0,0,20571872.686914057,0,-5550097.9413990155,-9401062.8552176859,-2841187.9050622322,0,0,0,0,0,22692476.042425022]
[]
[null,null,null,null,"Inversion inicial con la inflacion",{"$f":"C99+D99+E99+F99","v":-50604324.169698045}]
[]
[null,"TOTAL CASHFLOW (30 años)",{"$f":"C93+C99","v":-2474832.0622631833},-10641923.4557693,-25777802.932009656,-11709765.719655903,-1434528.1333654698,-1214863.8041149599,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239113,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930097,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560478,-1246866.5262231047,-4090572.1714178864,-4033809.846327127,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,15581013.807498362]
[null,"TRI (30 años)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IRR(C103:AJ103)","v":{"$error":"#NUM!"}}]
[]
[null,"TOTAL CASHFLOW (40 años)",{"$f":"C93+C99","v":-2474832.0622631833},{"$f":"D93+D99","v":-10641923.4557693},-25777802.932009656,-11709765.719655903,-1434528.1333654698,-1214863.8041149599,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239113,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930097,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560478,-1246866.5262231047,-4090572.1714178864,-4033809.846327127,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,{"$f":"AJ93+AJ97","v":-4990858.8794156937},-1574538.1531023462,-7240224.826367693,-11082315.710786868,-4643832.5239760261,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,16396425.648634499]
[null,"TRI (40 años)",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"IRR(C106:AT106)","v":{"$error":"#NUM!"}}]
[]
[null,"EBE (Excedente Bruto de Explotacion)",{"$f":"C83","v":0},{"$f":"D83","v":0},0,0,-1434528.13336547,-1214863.8041149601,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-3653157.4467117712,-1293442.0895270286,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-3866504.85318089,-1335224.2080099215,-1293403.4773883759,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-1194841.7939977185,-1218373.546917662,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937,-1574538.1531023462,-1690126.8849686771,-1681252.855569182,-1802644.6189137935,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,-6296050.3937905226]
[null,"ENE (Excedente Neto de Explotacion)",{"$f":"C109+C70","v":0},{"$f":"D109+D70","v":0},0,0,-3052100.8344384814,-2832436.5051879715,-2818213.4245425486,-2857190.7762905532,-4974529.9140005689,-2810620.7483683592,-2799115.4383266289,-2836228.6614302876,-2816425.7562434161,-5193089.5357312765,-2414045.5313473344,-2968370.3657789044,-2934550.3103963165,-2969418.8878014288,-5499990.1170841968,-2617311.1288492479,-2575490.3982277024,-3089153.3023197772,-3022398.9669868341,-5866104.612181616,-2970374.2347614476,-2993905.9876813916,-3105751.9241069271,-3200801.3563223765,-6290075.5258089583,-3289337.3200969626,-3278552.6809899486,-3383363.6394176208,-3373138.0921276263,-6889934.5375218233,-3473613.8112084758,-3589202.5430748067,-3086882.9937509089,-2571849.7176701189,-7577811.9370882995,-3962152.3141505704,-3954982.4154725862,-4088880.7587757497,-4082712.2900957377,-8336137.5426667724]
[]
[null,"Ratio de coberture (Ingresos/Egresos)",null,null,null,null,{"$f":"ABS(G81)/ABS(G76)","v":0.40435809767223058},{"$f":"ABS(H81)/ABS(H76)","v":0.50928952340664357},0.52640732989744143,0.52250335546072058,0.29856335391077737,0.53324207647713295,0.54833012902056577,0.54594078760161013,0.56338452909835912,0.31478944457577823,0.57814691450176048,0.57487212730376103,0.59539380129111663,0.5943302628512378,0.34916558271331816,0.61341990604374408,0.6343524477341933,0.63739112685160193,0.66393406713459135,0.38224779191195613,0.69297313693942808,0.69431667559098464,0.70440044718902695,0.68864876199452962,0.40522500846377812,0.68300449082082171,0.69290102504606077,0.6773840689023829,0.68718780748118202,0.39381792706512758,0.68149919182839913,0.66621557653689345,0.67583537676275651,0.66066789615376065,0.39705739369613946,0.65514484517244087,0.66458291913686229,0.64964660688040299,0.65899465000440693,0.38566294701118187]
[null,"Margen neta de la operacion",null,null,null,null,{"$f":"G112-1","v":-0.59564190232776948},{"$f":"H112-1","v":-0.49071047659335643},-0.47359267010255857,-0.47749664453927942,-0.70143664608922263,-0.46675792352286705,-0.45166987097943423,-0.45405921239838987,-0.43661547090164088,-0.68521055542422182,-0.42185308549823952,-0.42512787269623897,-0.40460619870888337,-0.4056697371487622,-0.65083441728668179,-0.38658009395625592,-0.3656475522658067,-0.36260887314839807,-0.33606593286540865,-0.61775220808804387,-0.30702686306057192,-0.30568332440901536,-0.29559955281097305,-0.31135123800547038,-0.59477499153622193,-0.31699550917917829,-0.30709897495393923,-0.3226159310976171,-0.31281219251881798,-0.60618207293487236,-0.31850080817160087,-0.33378442346310655,-0.32416462323724349,-0.33933210384623935,-0.60294260630386054,-0.34485515482755913,-0.33541708086313771,-0.35035339311959701,-0.34100534999559307,-0.61433705298881813]
[]
[null,"TOTAL CASHFLOW (30 años)",{"$f":"C103","v":-2474832.0622631833},{"$f":"D103","v":-10641923.4557693},-25777802.932009656,-11709765.719655903,-1434528.1333654698,-1214863.8041149599,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239113,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930097,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560478,-1246866.5262231047,-4090572.1714178864,-4033809.846327127,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,15581013.807498362]
[null,"VAN (30 años]",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"NPV(C26,C115:AJ115)","v":-44618264.124443091}]
[]
[null,"TOTAL CASHFLOW (40 años)",{"$f":"C106","v":-2474832.0622631833},{"$f":"D106","v":-10641923.4557693},-25777802.932009656,-11709765.719655903,-1434528.1333654698,-1214863.8041149599,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239113,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930097,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560478,-1246866.5262231047,-4090572.1714178864,-4033809.846327127,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937,-1574538.1531023462,-7240224.826367693,-11082315.710786868,-4643832.5239760261,-5537724.7882120498,-1922065.1652743211,-1914895.2665963368,-2048793.6098995004,-2042625.1412194883,16396425.648634499]
[null,"VAN (40 años]",null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,null,{"$f":"NPV(C26,C118:AT118)","v":-45238035.317539334}]
[]
[]
[]
[null,null,-15374793.702004252,-32471752.923079427,-62793043.621870533,-31184167.865535051,4461627.0876138387,7085887.3224892067,7506676.6422383776,7866933.6835564012,4138496.9480227539,8621725.0100111552,9016880.0393200647,9408111.1130052563,9811291.0381158479,3028760.3722510524,6759476.3316930179,11095752.577078201,11666827.927642517,12256200.784473658,5145482.9160697088,4835774.0456957947,9963796.0466147065,14965506.412886936,15819114.660764625,11262213.876171863,14269356.723393489,13717569.790471114,18902277.061604355,19259777.254964769,13648271.158759808,19994678.368752308,20372314.83298843,20756902.165421762,21148563.030060068,14981724.136930339]
[]
[null,null,{"$f":"C123-C103","v":-12899961.639741069},{"$f":"D123-D103","v":-21829829.467310127},-37015240.68986088,-19474402.145879149,5896155.2209793087,8300751.1266041668,8707317.3657079153,9106551.7587739434,7495454.1609503115,9892413.66936001,10276063.388627188,10704407.685416039,11087784.70533976,8969785.6904713865,10893868.770541495,12430637.678953798,12967892.974135526,13592134.40837178,10480439.720037796,9989659.5526731443,13371769.073114499,16279127.274442984,17065981.186987732,15352786.047589749,18303166.569720615,18461225.67931338,20108953.327605151,20561502.953181017,18039271.026462637,21384940.030743141,21751791.855872247,22241190.146733254,22622625.464081563,-599289.67056802288]

{"sheet":"Project Finance Model","index":2,"n_rows":315,"n_cols":39,"rows_kept":315,"cut":false,"hidden":true,"merged":[[1,2,4,2],[75,3,76,3],[75,4,76,4]]}
[]
[null,null,"Legend","Input"]
[null,null,null,"Key celd"]
[null,null,null,"Error"]
[null,null,null,"Calculated"]
[]
[null,null,"OUTPUTS"]
[]
[null,null,"Min DSCR",{"$f":"E313","v":1.7000000000188651}]
[null,null,null,{"$f":"E315","v":"2023-12-31"}]
[null,null,"LLCR",{"$f":"E296","v":134033.28924253283}]
[]
[null,null,"NPV project",{"$f":"E255","v":-45308815.441608623}]
[null,null,"IRR Project",{"$f":"E257","v":{"$error":"#NUM!"}}]
[]
[null,null,"PRIVATE FINANCE"]
[null,null,"NPV Equity",{"$f":"IF(E58<0.01,\"N/A\",E272)","v":"N/A"}]
[null,null,"IRR Equity",{"$f":"IF(E58<0.01,\"N/A\",E274)","v":"N/A"}]
[null,null,"Debt / Equity",{"$f":"IF(E58<0.01,\"N/A\",E59)","v":"N/A"}]
[]
[null,null,"Test \"CASH BALANCE > 0\"",{"$f":"IF(MIN(F232:AM232)<0,\"NOK\",\"OK\")","v":"OK"}]
[null,null,"Test \"INITIAL TREASURY\"",{"$f":"IF(I232>J220,\"OK\",\"NOK\")","v":"OK"}]
[]
[null,null,"General inputs"]
[]
[null,null,"Construction Costs (excluding inflation)","USD 2015",{"$f":"'Global Financial Model'!C11","v":48775148.320868559},null," "]
[null,null,"Municipal direct subsidies (yearly)","USD 2015",1300000]
[null,null,"Treasury","%",1,"of DSRA"]
[null,null,"Discount Factor (WACC)","%",{"$f":"'Global Financial Model'!C26","v":0.13}]
[]
[null,null,null,null,2015,2016,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026,2027,2028,2029,2030,2031,2032,2033,2034,2035,2036,2037,2038,2039,2040,2041,2042,2043,2044,2045,2046,2047,2048]
[null,null,"CPI","%",2.5499999999999998E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,2.5000000000000001E-2,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02,0.02]
[]
[]
[null,null,"Debt Facility"]
[]
[null,null,"Private Facility Limit","USD ",{"$f":"$E$59*E26*E58","v":48.775148320868567}]
[null,null,"Private Amortisation Start","Date",{"$f":"DATE(YEAR(E73)+1,12,31)","v":"2019-12-31"}]
[null,null,"Amortisation Period","Years",15,null,"TOTAL INSTALMENTS",null,{"$f":"+D191","v":16},"REPAYMENTS"]
[null,null,"Private Debt Term End","Date",{"$f":"DATE(YEAR(E38)+E39,12,31)","v":"2034-12-31"}]
[]
[]
[null,null,"Municipal Facility limit","USD ",{"$f":"E26*H58","v":48774660.56938535}]
[null,null,"Municipal Amortisation Start","Date",{"$f":"DATE(YEAR(E71)+1,12,31)","v":"2016-12-31"}]
[null,null,"Amortisation Period","Years",15,null,"TOTAL INSTALMENTS",null,{"$f":"+D188","v":16},"REPAYMENTS"]
[null,null,"Municipal Debt Term End","Date",{"$f":"DATE(YEAR(E44)+E45,12,31)","v":"2031-12-31"}]
[]
[null,null,null,null,"Construction",1,2,3,4]
[null,null,"Private loan - Interest Margin","% p.a.",{"$f":"0.07-E65","v":3.6700000000000003E-2},{"$f":"0.07-F65","v":3.6700000000000003E-2},3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2]
[null,null,"Municipal loan - Interest Margin",null,{"$f":"E49","v":3.6700000000000003E-2},{"$f":"F49","v":3.6700000000000003E-2},3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2]
[]
[null,null,"Upfront Fee","%",0.01]
[null,null,"Upfront Fee on private loan","USD ",{"$f":"E52*E37","v":0.48775148320868567}]
[null,null,"Upfront fee on municipal loan","USD ",{"$f":"E52*E43","v":487746.60569385352}]
[]
[null,null,"FUNDING SCHEME"]
[null,null,"Initial dibursment",null,"YES",{"$f":"IF($E$57=\"NO\",0,1)","v":1},"(if no : Equity is back ended)"]
[null,null,"Private funding vs Municipal funding ratio",null,1.0000000000000001E-5,null,"Initial Municipal debt",{"$f":"1-E58","v":0.99999000000000005}]
[null,null,"Private funding: Inital Debt vs Equity ratio",null,0.1]
[]
[null,null,"INITIAL TREASURY",null,600000]
[]
[]
[null,null,null,null,2015,2016,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026,2027,2028,2029,2030,2031,2032,2033,2034,2035,2036,2037,2038,2039,2040,2041,2042,2043,2044,2045,2046,2047,2048]
[null,null,"Private loan - BBSY","% p.a.",3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2]
[null,null,"Municipal loan - BBSY","% p.a.",3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2]
[]
[null,null,"Timing"]
[]
[null,null,null,null,"Construction","Operation"]
[null,null,"Start date",null,"2015-06-01",{"$f":"E73+1","v":"2019-01-01"}]
[null,null,"Duration",null,4,30]
[null,null,"End date",null,{"$f":"DATE(YEAR(E71),MONTH(E72)+E72*12,0)","v":"2018-12-31"},{"$f":"DATE(YEAR(F71),MONTH(F72)+F72*12,0)","v":"2048-12-31"}]
[]
[null,null," ",null," "]
[null,null,null,"Start","End",{"$f":"E71","v":"2015-06-01"},{"$f":"F77+1","v":"2016-01-01"},{"$f":"G77+1","v":"2017-01-01"},"2018-01-01","2019-01-01","2020-01-01","2021-01-01","2022-01-01","2023-01-01","2024-01-01","2025-01-01","2026-01-01","2027-01-01","2028-01-01","2029-01-01","2030-01-01","2031-01-01","2032-01-01","2033-01-01","2034-01-01","2035-01-01","2036-01-01","2037-01-01","2038-01-01","2039-01-01","2040-01-01","2041-01-01","2042-01-01","2043-01-01","2044-01-01","2045-01-01","2046-01-01","2047-01-01","2048-01-01"]
[null,null,null,null,null,{"$f":"DATE(YEAR(F76),12,31)","v":"2015-12-31"},{"$f":"DATE(YEAR(G76),12,31)","v":"2016-12-31"},"2017-12-31","2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31","2024-12-31","2025-12-31","2026-12-31","2027-12-31","2028-12-31","2029-12-31","2030-12-31","2031-12-31","2032-12-31","2033-12-31","2034-12-31","2035-12-31","2036-12-31","2037-12-31","2038-12-31","2039-12-31","2040-12-31","2041-12-31","2042-12-31","2043-12-31","2044-12-31","2045-12-31","2046-12-31","2047-12-31","2048-12-31"]
[null,null,"Construction",{"$f":"E71","v":"2015-06-01"},{"$f":"E73","v":"2018-12-31"},{"$f":"IF(AND(F$76>=$D78,F$77<=$E78),1,0)","v":1},1,1,1,0,0,0,0,0,0,{"$f":"IF(AND(P$76>=$D78,P$77<=$E78),1,0)","v":0},0,0,0,0,0,0,0,0,0,{"$f":"IF(AND(Z$76>=$D78,Z$77<=$E78),1,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Operation",{"$f":"F71","v":"2019-01-01"},{"$f":"F73","v":"2048-12-31"},0,0,0,0,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1]
[]
[null,null,"Number of days","Num#",null,{"$f":"F77-$E$71","v":213},579,944,1309,1674,2040,2405,2770,3135,3501,3866,4231,4596,4962,5327,5692,6057,6423,6788,7153,7518,7884,8249,8614,8979,9345,9710,10075,10440,10806,11171,11536,11901,12267]
[null,null,{"$f":"C29","v":"Discount Factor (WACC)"},{"$f":"D29","v":"%"},null,{"$f":"POWER(1+$E$29,-F81/365)","v":0.93116245416459142},0.82376169317596137,0.72899264882828441,0.64512623790113677,0.57090817513374947,0.50505932975799217,0.4469551590778692,0.39553553900696398,0.35003145044864076,0.30965864119285325,0.27403419574588789,0.24250813782821937,0.2146089715293977,0.18985586131306764,0.16801403656023683,0.14868498810640432,0.13157963549239318,0.11640317200926432,0.10301165664536668,9.1160758093244865E-2,8.0673237250659155E-2,7.1368344174927809E-2,6.3157826703475958E-2,5.5891882038474304E-2,4.9461842511924176E-2,4.3756887912518215E-2,3.8722909657095753E-2,3.4268061643447575E-2,3.0325718268537687E-2,2.682793417619064E-2,2.374153466919526E-2,2.1010207671854207E-2,1.8593104134384256E-2,1.6448565848672027E-2]
[]
[null,null,"Flags & Counters"]
[]
[null,null,"Days in Period","Days",null,{"$f":"F77-F76+1","v":214},366,365,365,365,366,365,365,365,366,365,365,365,366,365,365,365,366,365,365,365,366,365,365,365,366,365,365,365,366,365,365,365,366]
[null,null,"Year: Calendar","Num#",null,{"$f":"YEAR(F77)","v":2015},2016,2017,2018,2019,2020,2021,2022,2023,2024,2025,2026,2027,2028,2029,2030,2031,2032,2033,2034,2035,2036,2037,2038,2039,2040,2041,2042,2043,2044,2045,2046,2047,2048]
[null,null,"Year: Operations","Num#",null,{"$f":"(E88+1)*F79","v":0},0,0,0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30]
[null,null,"Month: Construction","Num#",null,{"$f":"(E89+MONTH(E73-E71))*F78","v":8},{"$f":"(F89+12)*G78","v":20},32,44,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Year: Construction","Num#",null,{"$f":"(E90+1)*F78","v":1},2,3,4,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Year: Project","Num#",null,{"$f":"IF(F78=1,F90,(E91+1)*F79)","v":1},2,3,4,5,6,7,8,9,10,11,12,13,14,15,16,17,18,19,20,21,22,23,24,25,26,27,28,29,30,31,32,33,34]
[]
[null,null,null,"Start","End"]
[null,null,"Flag: End of Construction",{"$f":"D78","v":"2015-06-01"},{"$f":"E78","v":"2018-12-31"},{"$f":"IF(AND(F89<>0,G89=0),1,0)","v":0},0,0,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"IF(AND(AA89<>0,AD89=0),1,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,null,"Start","End"]
[null,null,"Flag: Municipal Debt Repayment",{"$f":"E44","v":"2016-12-31"},{"$f":"E46","v":"2031-12-31"},{"$f":"IF(AND(F77>=$D97,F77<=$E97),1,0)","v":0},1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Flag: Private Debt Repayment",{"$f":"E38","v":"2019-12-31"},{"$f":"E40","v":"2034-12-31"},{"$f":"IF(AND(F77>=$D98,F77<=$E98),1,0)","v":0},0,0,0,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,"Technical inputs"]
[]
[null,null,"Construction"]
[null,null,"Construction: CapEx"]
[null,null,"Construction Costs","USD ",{"$f":"SUM(F105:AM105)","v":50604324.169698045},{"$f":"-'Global Financial Model'!C96","v":2474832.0622631833},{"$f":"-'Global Financial Model'!D96","v":10641923.4557693},{"$f":"-'Global Financial Model'!E96","v":25777802.932009656},{"$f":"-'Global Financial Model'!F96","v":11709765.719655903},{"$f":"-'Global Financial Model'!G96","v":0},{"$f":"-'Global Financial Model'!H96","v":0},{"$f":"-'Global Financial Model'!I96","v":0},{"$f":"-'Global Financial Model'!J96","v":0},{"$f":"-'Global Financial Model'!K96","v":0},{"$f":"-'Global Financial Model'!L96","v":0},{"$f":"-'Global Financial Model'!M96","v":0},{"$f":"-'Global Financial Model'!N96","v":0},{"$f":"-'Global Financial Model'!O96","v":0},{"$f":"-'Global Financial Model'!P96","v":0},{"$f":"-'Global Financial Model'!Q96","v":0},{"$f":"-'Global Financial Model'!R96","v":0},{"$f":"-'Global Financial Model'!S96","v":0},{"$f":"-'Global Financial Model'!T96","v":0},{"$f":"-'Global Financial Model'!U96","v":0},{"$f":"-'Global Financial Model'!V96","v":0},{"$f":"-'Global Financial Model'!W96","v":0},{"$f":"-'Global Financial Model'!X96","v":0},{"$f":"-'Global Financial Model'!Y96","v":0},{"$f":"-'Global Financial Model'!Z96","v":0},{"$f":"-'Global Financial Model'!AA96","v":0},{"$f":"-'Global Financial Model'!AB96","v":0},{"$f":"-'Global Financial Model'!AC96","v":0},{"$f":"-'Global Financial Model'!AD96","v":0},{"$f":"-'Global Financial Model'!AE96","v":0},{"$f":"-'Global Financial Model'!AF96","v":0},{"$f":"-'Global Financial Model'!AG96","v":0},{"$f":"-'Global Financial Model'!AH96","v":0},{"$f":"-'Global Financial Model'!AI96","v":0},{"$f":"-'Global Financial Model'!AJ96","v":0}]
[null,null,"Renewal Costs","UDS ",{"$f":"SUM(F106:AM106)","v":18894751.413950067},{"$f":"-'Global Financial Model'!C97","v":0},{"$f":"-'Global Financial Model'!D97","v":0},{"$f":"-'Global Financial Model'!E97","v":0},{"$f":"-'Global Financial Model'!F97","v":0},{"$f":"-'Global Financial Model'!G97","v":0},{"$f":"-'Global Financial Model'!H97","v":0},{"$f":"-'Global Financial Model'!I97","v":0},{"$f":"-'Global Financial Model'!J97","v":0},{"$f":"-'Global Financial Model'!K97","v":0},{"$f":"-'Global Financial Model'!L97","v":0},{"$f":"-'Global Financial Model'!M97","v":0},{"$f":"-'Global Financial Model'!N97","v":0},{"$f":"-'Global Financial Model'!O97","v":0},{"$f":"-'Global Financial Model'!P97","v":2287867.8715085625},{"$f":"-'Global Financial Model'!Q97","v":2840950.3493214482},{"$f":"-'Global Financial Model'!R97","v":0},{"$f":"-'Global Financial Model'!S97","v":0},{"$f":"-'Global Financial Model'!T97","v":0},{"$f":"-'Global Financial Model'!U97","v":1468451.9507871973},{"$f":"-'Global Financial Model'!V97","v":3818661.298967428},{"$f":"-'Global Financial Model'!W97","v":2114569.5491114175},{"$f":"-'Global Financial Model'!X97","v":0},{"$f":"-'Global Financial Model'!Y97","v":0},{"$f":"-'Global Financial Model'!Z97","v":0},{"$f":"-'Global Financial Model'!AA97","v":2838968.0523294089},{"$f":"-'Global Financial Model'!AB97","v":3525282.341924604},{"$f":"-'Global Financial Model'!AC97","v":0},{"$f":"-'Global Financial Model'!AD97","v":0},{"$f":"-'Global Financial Model'!AE97","v":0},{"$f":"-'Global Financial Model'!AF97","v":0},{"$f":"-'Global Financial Model'!AG97","v":0},{"$f":"-'Global Financial Model'!AH97","v":0},{"$f":"-'Global Financial Model'!AI97","v":0},{"$f":"-'Global Financial Model'!AJ97","v":0}]
[]
[null,null,"Construction: Funding"]
[null,null,"Construction Costs","USD ",{"$f":"SUM(F109:AM109)","v":50604324.169698045},{"$f":"F105","v":2474832.0622631833},{"$f":"G105","v":10641923.4557693},25777802.932009656,11709765.719655903,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Anticipated treasury","USD ",600000,null,null,null,{"$f":"E61","v":600000}]
[null,null,"Renewal Costs","USD ",18894751.413950067,{"$f":"F106","v":0},{"$f":"G106","v":0},0,0,0,0,0,0,0,0,0,0,0,2287867.8715085625,2840950.3493214482,0,0,0,1468451.9507871973,3818661.298967428,2114569.5491114175,0,0,0,2838968.0523294089,3525282.341924604,0,0,0,0,0,0,0,0]
[null,null,"Private Debt: Interest During Construction","USD ",3.814521321364559,{"$f":"F151","v":0},{"$f":"G151","v":0.17372918671993248},{"$f":"H151","v":0.9181729325659217},2.7226192020787048,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AB151","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Private Debt: Upfront Fee","USD ",0.48775148320868567,{"$f":"F138","v":0.48775148320868567},{"$f":"G138","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"AB138","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Required Funding","USD ",70099079.885920912,{"$f":"SUM(F109:F113)","v":2474832.5500146663},{"$f":"SUM(G109:G113)","v":10641923.629498487},{"$f":"SUM(H109:H113)","v":25777803.850182589},12309768.442275105,0,0,0,0,0,0,0,0,0,2287867.8715085625,2840950.3493214482,0,0,0,1468451.9507871973,3818661.298967428,2114569.5491114175,0,0,0,2838968.0523294089,3525282.341924604,0,0,0,0,0,0,0,0]
[null,null,"Treasury: Release","USD ",-18894751.413950067,{"$f":"IF(F79=1,-F114,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,-2287867.8715085625,-2840950.3493214482,0,0,0,-1468451.9507871973,-3818661.298967428,-2114569.5491114175,0,0,0,-2838968.0523294089,-3525282.341924604,0,0,0,0,0,0,0,0]
[null,null,"Municipality: Funding through debt","USD ",-51203816.428686127,{"$f":"IF(F78=1,-F114*(1-$E$58),0)","v":-2474807.8016891661},-10641817.210262192,-25777546.072144087,-12309645.344590683,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Private: Debt funding","USD ",-48.775148320868567,{"$f":"IF(F78=1,IF($F$57=1,-MIN(F114*$E$59*$E$58,F135),-MIN(F114*$E$58,F135)),0)","v":-2.4748325500146664},-10.641923629498489,-25.777803850182593,-9.8805882911728204,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Sub Total","USD ",463.26813639847569,{"$f":"SUM(F114:F117)","v":22.273492950156964},95.77731266542672,232.00023465155692,113.21709613133507,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Private: Equity Funding","USD ",-463.26813639847569,{"$f":"-F118","v":-22.273492950156964},{"$f":"-G118","v":-95.77731266542672},-232.00023465155692,-113.21709613133507,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-AB118","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Funding Shortfall","USD ",0,{"$f":"SUM(F118:F119)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"SUM(AB118:AB119)","v":0},0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Construction: Debt"]
[null,null,"Balance B/f (SPV)","USD ",null,{"$f":"E127","v":0},{"$f":"F127","v":2.4748325500146664},{"$f":"G127","v":13.116756179513155},38.894560029695747,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"Z127","v":0},{"$f":"AA127","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Disbursement to Fund Project Costs (SPV)","USD ",{"$f":"SUM(F124:AM124)","v":48.775148320868567},{"$f":"-F117","v":2.4748325500146664},10.641923629498489,25.777803850182593,9.8805882911728204,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayments during construction (SPV)","USD ",{"$f":"SUM(F125:AM125)","v":0},{"$f":"IF(F78=1,-F198,0)","v":0},{"$f":"IF(G78=1,-G198,0)","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Refinance @ Completion (SPV)","USD ",{"$f":"SUM(F126:AM126)","v":-48.775148320868567},{"$f":"-SUM(F123:F125)*F94","v":0},{"$f":"-SUM(G123:G125)*G94","v":0},{"$f":"-SUM(H123:H125)*H94","v":0},-48.775148320868567,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Balance C/f (SPV)","USD ",null,{"$f":"SUM(F123:F126)","v":2.4748325500146664},{"$f":"SUM(G123:G126)","v":13.116756179513155},38.894560029695747,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Balance B/f (Municipaly)","USD ",null,{"$f":"E133","v":0},{"$f":"F133","v":2474807.8016891661},13028030.705801088,38287131.185414635,{"$f":"I133","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Disbursement to Fund Project Costs (Municipality)","USD ",{"$f":"SUM(F130:AM130)","v":51203816.428686127},{"$f":"-F116","v":2474807.8016891661},{"$f":"-G116","v":10641817.210262192},25777546.072144087,12309645.344590683,{"$f":"-J116","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayments during construction (Municipality)","USD ",{"$f":"SUM(F131:AM131)","v":-2304880.3810278969},{"$f":"IF(F78=1,-F204,0)","v":0},{"$f":"IF(G78=1,-G204,0)","v":-88594.306150270684},-518445.5925305438,-1697840.4823470823,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Refinance @ Completion (Municipality)","USD ",-48898936.047658235,{"$f":"-SUM(F129:F131)*F94","v":0},{"$f":"-SUM(G129:G131)*G94","v":0},{"$f":"-SUM(H129:H131)*H94","v":0},-48898936.047658235,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Balance C/f (Municipality)","USD ",null,{"$f":"SUM(F129:F132)","v":2474807.8016891661},{"$f":"SUM(G129:G132)","v":13028030.705801088},38287131.185414635,0,{"$f":"SUM(J129:J132)","v":0},{"$f":"SUM(K129:K132)","v":0},{"$f":"SUM(L129:L132)","v":0},{"$f":"SUM(M129:M132)","v":0},{"$f":"SUM(N129:N132)","v":0},{"$f":"SUM(O129:O132)","v":0},{"$f":"SUM(P129:P132)","v":0},{"$f":"SUM(Q129:Q132)","v":0},{"$f":"SUM(R129:R132)","v":0},{"$f":"SUM(S129:S132)","v":0},{"$f":"SUM(T129:T132)","v":0},{"$f":"SUM(U129:U132)","v":0},{"$f":"SUM(V129:V132)","v":0},{"$f":"SUM(W129:W132)","v":0},{"$f":"SUM(X129:X132)","v":0},{"$f":"SUM(Y129:Y132)","v":0},{"$f":"SUM(Z129:Z132)","v":0},{"$f":"SUM(AA129:AA132)","v":0},{"$f":"SUM(AB129:AB132)","v":0},{"$f":"SUM(AC129:AC132)","v":0},{"$f":"SUM(AD129:AD132)","v":0},{"$f":"SUM(AE129:AE132)","v":0},{"$f":"SUM(AF129:AF132)","v":0},{"$f":"SUM(AG129:AG132)","v":0},{"$f":"SUM(AH129:AH132)","v":0},{"$f":"SUM(AI129:AI132)","v":0},{"$f":"SUM(AJ129:AJ132)","v":0},{"$f":"SUM(AK129:AK132)","v":0},{"$f":"SUM(AL129:AL132)","v":0},{"$f":"SUM(AM129:AM132)","v":0}]
[]
[null,null,"Undrawn Facility (SPV)","USD ",{"$f":"E37","v":48.775148320868567},{"$f":"MAX(0,$E135-F123)*F78","v":48.775148320868567},46.300315770853899,35.658392141355414,9.8805882911728204,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Undrawn Facility (Municipality)","USD ",{"$f":"E43","v":48774660.56938535},{"$f":"MAX(0,$E136-F129)*F78","v":48774660.56938535},46299852.767696187,35746629.863584265,10487529.383970715,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Upfront Fee (SPV)","USD ",{"$f":"E53","v":0.48775148320868567},{"$f":"$E138*IF(F90=1,1,0)","v":0.48775148320868567},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Undrawn Facility (Municipality)","USD ",{"$f":"E54","v":487746.60569385352},{"$f":"$E139*IF(F90=1,1,0)","v":487746.60569385352},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"BBSY (REFERENCE RATE FOR SWAP)","% p.a.",null,{"$f":"LOOKUP(F87,$E$64:$AL$64,$E$65:$AL$65)*F78","v":3.3300000000000003E-2},3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest Margin (SPV)","% p.a.",null,{"$f":"$E$49*F78","v":3.6700000000000003E-2},3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"All-in-Rate (SPV)","% p.a.",null,{"$f":"SUM(F141:F142)","v":7.0000000000000007E-2},{"$f":"SUM(G141:G142)","v":7.0000000000000007E-2},7.0000000000000007E-2,7.0000000000000007E-2,0,0,{"$f":"SUM(L141:L142)","v":0},{"$f":"SUM(M141:M142)","v":0},{"$f":"SUM(N141:N142)","v":0},{"$f":"SUM(O141:O142)","v":0},0,{"$f":"SUM(Q141:Q142)","v":0},{"$f":"SUM(R141:R142)","v":0},{"$f":"SUM(S141:S142)","v":0},{"$f":"SUM(T141:T142)","v":0},0,{"$f":"SUM(V141:V142)","v":0},{"$f":"SUM(W141:W142)","v":0},{"$f":"SUM(X141:X142)","v":0},{"$f":"SUM(Y141:Y142)","v":0},0,{"$f":"SUM(AA141:AA142)","v":0},{"$f":"SUM(AB141:AB142)","v":0},{"$f":"SUM(AC141:AC142)","v":0},{"$f":"SUM(AD141:AD142)","v":0},0,{"$f":"SUM(AF141:AF142)","v":0},{"$f":"SUM(AG141:AG142)","v":0},{"$f":"SUM(AH141:AH142)","v":0},{"$f":"SUM(AI141:AI142)","v":0},0,{"$f":"SUM(AK141:AK142)","v":0},{"$f":"SUM(AL141:AL142)","v":0},{"$f":"SUM(AM141:AM142)","v":0}]
[null,null,"All-in-Rate (SPV)","% p.p.",null,{"$f":"(1+F143)^(F86/365)-1","v":4.0465655151550761E-2},7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"BBSY (REFERENCE RATE FOR SWAP)","% p.a.",null,{"$f":"LOOKUP(F87,$E$64:$AL$64,$E$66:$AL$66)*F78","v":3.3300000000000003E-2},3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest Margin (Municipality)","% p.a.",null,{"$f":"$E$50*F78","v":3.6700000000000003E-2},{"$f":"$E$50*G78","v":3.6700000000000003E-2},{"$f":"$E$50*H78","v":3.6700000000000003E-2},{"$f":"$E$50*I78","v":3.6700000000000003E-2},{"$f":"$E$49*J78","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"All-in-Rate (Municipality)","% p.a.",null,{"$f":"SUM(F146:F147)","v":7.0000000000000007E-2},{"$f":"SUM(G146:G147)","v":7.0000000000000007E-2},7.0000000000000007E-2,7.0000000000000007E-2,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"All-in-Rate (Municipality)","% p.p.",null,{"$f":"(1+F148)^(F86/365)-1","v":4.0465655151550761E-2},7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-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]
[]
[null,null,"Interest during construction for SPV","USD ",{"$f":"SUM(F151:AM151)","v":3.814521321364559},{"$f":"F144*F123","v":0},0.17372918671993248,0.9181729325659217,2.7226192020787048,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest during construction for Municipality",null,{"$f":"SUM(F152:AM152)","v":3765788.7818131689},{"$f":"F149*F129","v":0},173727.44942806527,911962.14940607699,2680099.1829790268,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Operations"]
[null,null,"Revenue"]
[null,null,"Revenue","USD ",{"$f":"SUM(F156:AM156)","v":65324436.229778476},{"$f":"'Global Financial Model'!C81","v":0},{"$f":"'Global Financial Model'!D81","v":0},{"$f":"'Global Financial Model'!E81","v":0},{"$f":"'Global Financial Model'!F81","v":0},{"$f":"'Global Financial Model'!G81","v":973845.29999999993},{"$f":"'Global Financial Model'!H81","v":1260860.3999999999},{"$f":"'Global Financial Model'!I81","v":1334535.1761269092},{"$f":"'Global Financial Model'!J81","v":1356458.9640538183},{"$f":"'Global Financial Model'!K81","v":1428873.7407927492},{"$f":"'Global Financial Model'!L81","v":1451683.2497519059},{"$f":"'Global Financial Model'!M81","v":1528656.6865505218},{"$f":"'Global Financial Model'!N81","v":1558609.87374104},{"$f":"'Global Financial Model'!O81","v":1647117.0435643813},{"$f":"'Global Financial Model'!P81","v":1678280.3395173966},{"$f":"'Global Financial Model'!Q81","v":1772653.9851274411},{"$f":"'Global Financial Model'!R81","v":1805076.2782369582},{"$f":"'Global Financial Model'!S81","v":1914567.9582527571},{"$f":"'Global Financial Model'!T81","v":1957222.117241683},{"$f":"'Global Financial Model'!U81","v":2074337.7797276247},{"$f":"'Global Financial Model'!V81","v":2118715.1667397027},{"$f":"'Global Financial Model'!W81","v":2243892.1215389185},{"$f":"'Global Financial Model'!X81","v":2309072.7867001737},{"$f":"'Global Financial Model'!Y81","v":2463317.7093282659},{"$f":"'Global Financial Model'!Z81","v":2531131.6733620353},{"$f":"'Global Financial Model'!AA81","v":2696810.4936458995},{"$f":"'Global Financial Model'!AB81","v":2767364.1418266343},{"$f":"'Global Financial Model'!AC81","v":2875455.3019465678},{"$f":"'Global Financial Model'!AD81","v":2879165.65315643},{"$f":"'Global Financial Model'!AE81","v":2991623.6961452086},{"$f":"'Global Financial Model'!AF81","v":2995483.945543949},{"$f":"'Global Financial Model'!AG81","v":3112485.2934694751},{"$f":"'Global Financial Model'!AH81","v":3116501.496943925},{"$f":"'Global Financial Model'!AI81","v":3238229.6993256421},{"$f":"'Global Financial Model'!AJ81","v":3242408.1574204592}]
[null,null,"Municipal direct subsidies (if any)","USD ",{"$f":"SUM(F157:AM157)","v":58520297.870707035},0,0,0,0,{"$f":"$E27*(1+E32)*(1+F32)*(1+G32)*(1+H32)","v":1435656.7367187494},{"$f":"J157*(1+I32)","v":1471548.1551367179},1500979.1182394524,1530998.7006042413,1561618.6746163261,1592851.0481086527,1624708.0690708258,1657202.2304522423,1690346.2750612872,1724153.200562513,1758636.2645737634,1793808.9898652385,1829685.1696625433,1866278.8730557943,1903604.4505169103,1941676.5395272486,1980510.0703177936,2020120.2717241496,2060522.6771586325,2101733.1307018055,2143767.7933158418,2186643.1491821585,2230376.0121658016,2274983.5324091176,2320483.2030572998,2366892.8671184457,2414230.7244608146,2462515.338950031,2511765.6457290314,2562000.958643612]
[]
[null,null,"OpEx"]
[null,null,"OpEx","USD ",{"$f":"SUM(F160:AM160)","v":120969946.98590454},{"$f":"-'Global Financial Model'!C76","v":0},{"$f":"-'Global Financial Model'!D76","v":0},{"$f":"-'Global Financial Model'!E76","v":0},{"$f":"-'Global Financial Model'!F76","v":0},{"$f":"-'Global Financial Model'!G76","v":2408373.4333654698},{"$f":"-'Global Financial Model'!H76","v":2475724.20411496},{"$f":"-'Global Financial Model'!I76","v":2535175.8995964462},{"$f":"-'Global Financial Model'!J76","v":2596077.0392713598},{"$f":"-'Global Financial Model'!K76","v":4785830.953720307},{"$f":"-'Global Financial Model'!L76","v":2722371.9091007602},{"$f":"-'Global Financial Model'!M76","v":2787840.0358576458},{"$f":"-'Global Financial Model'!N76","v":2854906.4461518228},{"$f":"-'Global Financial Model'!O76","v":2923610.7107882928},{"$f":"-'Global Financial Model'!P76","v":5331437.7862291681},{"$f":"-'Global Financial Model'!Q76","v":3066096.0746544697},{"$f":"-'Global Financial Model'!R76","v":3139961.3801125558},{"$f":"-'Global Financial Model'!S76","v":3215633.0047457665},{"$f":"-'Global Financial Model'!T76","v":3293155.7411398049},{"$f":"-'Global Financial Model'!U76","v":5940842.6329085147},{"$f":"-'Global Financial Model'!V76","v":3453939.3747496242},{"$f":"-'Global Financial Model'!W76","v":3537295.5989272944},{"$f":"-'Global Financial Model'!X76","v":3622693.6482562213},{"$f":"-'Global Financial Model'!Y76","v":3710184.2355513703},{"$f":"-'Global Financial Model'!Z76","v":6621703.8447799217},{"$f":"-'Global Financial Model'!AA76","v":3891652.287643618},{"$f":"-'Global Financial Model'!AB76","v":3985737.6887442963},{"$f":"-'Global Financial Model'!AC76","v":4082131.5679473653},{"$f":"-'Global Financial Model'!AD76","v":4180891.3513726769},{"$f":"-'Global Financial Model'!AE76","v":7382623.5638480373},{"$f":"-'Global Financial Model'!AF76","v":4385745.607534782},{"$f":"-'Global Financial Model'!AG76","v":4491962.3163532941},{"$f":"-'Global Financial Model'!AH76","v":4600789.4782554163},{"$f":"-'Global Financial Model'!AI76","v":4712292.1333471388},{"$f":"-'Global Financial Model'!AJ76","v":8233267.0368361529}]
[]
[null,null,"Operation: Debt"]
[null,null,"Balance B/f (SPV)","USD ",null,{"$f":"E166","v":0},{"$f":"F166","v":0},0,0,48.775148320868567,47.026186234583619,45.157654172782934,43.155140770274784,41.012451429591067,38.719773835059485,36.269186372888164,33.644113237265152,30.835284982148526,27.829838749173739,24.615959939145817,21.174752132633959,17.492659779666269,13.552820961990843,9.3380100511794453,4.8268940844260886,0,{"$f":"Z166","v":0},{"$f":"AA166","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Refinance @ Completion (SPV)","USD ",{"$f":"SUM(F164:AM164)","v":48.775148320868567},{"$f":"-F126","v":0},0,0,48.775148320868567,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayments during operation (SPV)","USD ",{"$f":"SUM(F165:AM165)","v":-48.775148320868581},{"$f":"IF(F79=1,-F198,0)","v":0},{"$f":"IF(G79=1,-G198,0)","v":0},0,0,-1.7489620862849491,-1.8685320618006873,-2.0025134025081486,-2.1426893406837189,-2.2926775945315794,-2.4505874621713222,-2.6250731356230137,-2.8088282551166253,-3.0054462329747884,-3.2138788100279223,-3.441207806511859,-3.6820923529676883,-3.9398388176754251,-4.2148109108113987,-4.5111159667533567,-4.8268940844260921,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Balance C/f (SPV)","USD ",null,{"$f":"SUM(F163:F165)","v":0},{"$f":"SUM(G163:G165)","v":0},0,48.775148320868567,47.026186234583619,45.157654172782934,43.155140770274784,41.012451429591067,38.719773835059485,36.269186372888164,33.644113237265152,30.835284982148526,27.829838749173739,24.615959939145817,21.174752132633959,17.492659779666269,13.552820961990843,9.3380100511794453,4.8268940844260886,0,0,0,{"$f":"SUM(AB163:AB165)","v":0},0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Balance B/f (Municipality)","USD ",null,{"$f":"E171","v":0},{"$f":"F171","v":0},0,0,48898936.047658235,46471062.399931401,43876268.88737876,41096404.294911608,38121949.180971757,34939282.209056117,31536260.50129452,27892144.065242976,23992939.478667825,19820790.571032416,15357902.304808401,10580801.211521393,5469303.0417042933,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Refinance @ Completion (Municipality)","USD ",{"$f":"SUM(F169:AM169)","v":48898936.047658235},{"$f":"-F132","v":0},0,0,48898936.047658235,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Repayments during operation (Municipality)","USD ",{"$f":"SUM(F170:AM170)","v":-48898936.047658235},{"$f":"IF(F79=1,-F204,0)","v":0},{"$f":"IF(G79=1,-G204,0)","v":0},0,0,-2427873.6477268361,-2594793.5125526413,-2779864.5924671483,-2974455.1139398501,-3182666.971915639,-3403021.7077615955,-3644116.4360515424,-3899204.586575151,-4172148.9076354099,-4462888.2662240155,-4777101.0932870079,-5111498.1698170993,-5469303.0417042971,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Balance C/f (Municipality","USD ",null,{"$f":"SUM(F168:F170)","v":0},{"$f":"SUM(G168:G170)","v":0},0,48898936.047658235,46471062.399931401,43876268.88737876,41096404.294911608,38121949.180971757,34939282.209056117,31536260.50129452,27892144.065242976,23992939.478667825,19820790.571032416,15357902.304808401,10580801.211521393,5469303.0417042933,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"BBSY","% p.a.",null,{"$f":"LOOKUP(F87,$E$64:$AL$64,$E$65:$AL$65)*F79","v":0},{"$f":"LOOKUP(G87,$E$64:$H$64,$E$65:$H$65)*G79","v":0},0,0,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2]
[null,null,"Interest Margin (SPV)","% p.a.",null,{"$f":"IF(F88=0,0,LOOKUP(F88,$E$48:$I$48,$E$49:$I$49))","v":0},0,0,0,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2]
[null,null,"All-in-Rate (SPV)","% p.a.",null,{"$f":"SUM(F173:F174)","v":0},{"$f":"SUM(G173:G174)","v":0},0,0,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,{"$f":"SUM(AB173:AB174)","v":7.0000000000000007E-2},7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2]
[null,null,"All-in-Rate (SPV)","% p.p.",null,{"$f":"(1+F175)^(F86/365)-1","v":0},0,0,0,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2]
[]
[null,null,"BBSY","% p.a.",null,{"$f":"LOOKUP(F87,$E$64:$AL$64,$E$66:$AL$66)*F79","v":0},0,0,0,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2,3.3300000000000003E-2]
[null,null,"Interest Margin (Municipality)","% p.a.",null,{"$f":"IF(F88=0,0,LOOKUP(F88,$E$48:$I$48,$E$49:$I$49))","v":0},0,0,0,{"$f":"IF(J88=0,0,LOOKUP(J88,$E$48:$I$48,$E$50:$I$50))","v":3.6700000000000003E-2},{"$f":"IF(K88=0,0,LOOKUP(K88,$E$48:$I$48,$E$50:$I$50))","v":3.6700000000000003E-2},3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2,3.6700000000000003E-2]
[null,null,"All-in-Rate (Municipality)","% p.a.",null,{"$f":"SUM(F178:F179)","v":0},{"$f":"SUM(G178:G179)","v":0},0,0,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2]
[null,null,"All-in-Rate (Municipality)","% p.p.",null,{"$f":"(1+F180)^(F86/365)-1","v":0},0,0,0,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2]
[]
[null,null,"Interest during Operation for SPV","USD ",{"$f":"SUM(F183:AM183)","v":33.865028509085825},{"$f":"F176*F163","v":0},0,0,0,3.4142603824608027,3.3011611589745256,3.161035792094808,3.0208598539192377,2.8708716000713772,2.7180646295866531,2.5388430461021736,2.3550879266085629,2.1584699487503989,1.9536090441400429,1.7231171957402087,1.4822326492843785,1.2244861845766399,0.95138580728363575,0.65366070358256179,0.3378825859098265,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Interest during Operation for Municipality","USD ",{"$f":"SUM(F184:AM184)","v":27183863.319330998},{"$f":"F181*F168","v":0},{"$f":"G181*G168","v":0},0,0,3422925.5233360794,3262192.3760876153,3071338.8221165161,2876748.3006438152,2668536.4426680254,2452680.3167840806,2207538.2350906185,1952450.0845670099,1679505.7635067492,1391386.9954681019,1075053.1613365889,740656.08480649814,382851.21291930089,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Debt repayment"]
[]
[null,null,"Flag: Municipal Debt Repayment",{"$f":"SUM(F188:AM188)","v":16},null,{"$f":"F97","v":0},{"$f":"G97","v":1},{"$f":"H97","v":1},1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Remaining Repayments"," ",null,{"$f":"IF(F188=0,0,$D188-SUM($E188:E188))","v":0},{"$f":"IF(G188=0,0,$D188-SUM($E188:F188))","v":16},{"$f":"IF(H188=0,0,$D188-SUM($E188:G188))","v":15},{"$f":"IF(I188=0,0,$D188-SUM($E188:H188))","v":14},{"$f":"IF(J188=0,0,$D188-SUM($E188:I188))","v":13},{"$f":"IF(K188=0,0,$D188-SUM($E188:J188))","v":12},{"$f":"IF(L188=0,0,$D188-SUM($E188:K188))","v":11},{"$f":"IF(M188=0,0,$D188-SUM($E188:L188))","v":10},{"$f":"IF(N188=0,0,$D188-SUM($E188:M188))","v":9},{"$f":"IF(O188=0,0,$D188-SUM($E188:N188))","v":8},{"$f":"IF(P188=0,0,$D188-SUM($E188:O188))","v":7},{"$f":"IF(Q188=0,0,$D188-SUM($E188:P188))","v":6},{"$f":"IF(R188=0,0,$D188-SUM($E188:Q188))","v":5},{"$f":"IF(S188=0,0,$D188-SUM($E188:R188))","v":4},{"$f":"IF(T188=0,0,$D188-SUM($E188:S188))","v":3},{"$f":"IF(U188=0,0,$D188-SUM($E188:T188))","v":2},{"$f":"IF(V188=0,0,$D188-SUM($E188:U188))","v":1},{"$f":"IF(W188=0,0,$D188-SUM($E188:V188))","v":0},{"$f":"IF(X188=0,0,$D188-SUM($E188:W188))","v":0},{"$f":"IF(Y188=0,0,$D188-SUM($E188:X188))","v":0},{"$f":"IF(Z188=0,0,$D188-SUM($E188:Y188))","v":0},{"$f":"IF(AA188=0,0,$D188-SUM($E188:Z188))","v":0},{"$f":"IF(AB188=0,0,$D188-SUM($E188:AA188))","v":0},{"$f":"IF(AC188=0,0,$D188-SUM($E188:AB188))","v":0},{"$f":"IF(AD188=0,0,$D188-SUM($E188:AC188))","v":0},{"$f":"IF(AE188=0,0,$D188-SUM($E188:AD188))","v":0},{"$f":"IF(AF188=0,0,$D188-SUM($E188:AE188))","v":0},{"$f":"IF(AG188=0,0,$D188-SUM($E188:AF188))","v":0},{"$f":"IF(AH188=0,0,$D188-SUM($E188:AG188))","v":0},{"$f":"IF(AI188=0,0,$D188-SUM($E188:AH188))","v":0},{"$f":"IF(AJ188=0,0,$D188-SUM($E188:AI188))","v":0},{"$f":"IF(AK188=0,0,$D188-SUM($E188:AJ188))","v":0},{"$f":"IF(AL188=0,0,$D188-SUM($E188:AK188))","v":0},{"$f":"IF(AM188=0,0,$D188-SUM($E188:AL188))","v":0}]
[]
[null,null,"Flag: Private Debt Repayment",{"$f":"SUM(F191:AM191)","v":16},null,{"$f":"F98","v":0},0,0,0,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Remaining Repayments"," ",null,{"$f":"IF(F191=0,0,$D191-SUM($E191:E191))","v":0},{"$f":"IF(G191=0,0,$D191-SUM($E191:F191))","v":0},{"$f":"IF(H191=0,0,$D191-SUM($E191:G191))","v":0},{"$f":"IF(I191=0,0,$D191-SUM($E191:H191))","v":0},{"$f":"IF(J191=0,0,$D191-SUM($E191:I191))","v":16},{"$f":"IF(K191=0,0,$D191-SUM($E191:J191))","v":15},{"$f":"IF(L191=0,0,$D191-SUM($E191:K191))","v":14},{"$f":"IF(M191=0,0,$D191-SUM($E191:L191))","v":13},{"$f":"IF(N191=0,0,$D191-SUM($E191:M191))","v":12},{"$f":"IF(O191=0,0,$D191-SUM($E191:N191))","v":11},{"$f":"IF(P191=0,0,$D191-SUM($E191:O191))","v":10},{"$f":"IF(Q191=0,0,$D191-SUM($E191:P191))","v":9},{"$f":"IF(R191=0,0,$D191-SUM($E191:Q191))","v":8},{"$f":"IF(S191=0,0,$D191-SUM($E191:R191))","v":7},{"$f":"IF(T191=0,0,$D191-SUM($E191:S191))","v":6},{"$f":"IF(U191=0,0,$D191-SUM($E191:T191))","v":5},{"$f":"IF(V191=0,0,$D191-SUM($E191:U191))","v":4},{"$f":"IF(W191=0,0,$D191-SUM($E191:V191))","v":3},{"$f":"IF(X191=0,0,$D191-SUM($E191:W191))","v":2},{"$f":"IF(Y191=0,0,$D191-SUM($E191:X191))","v":1},{"$f":"IF(Z191=0,0,$D191-SUM($E191:Y191))","v":0},{"$f":"IF(AA191=0,0,$D191-SUM($E191:Z191))","v":0},{"$f":"IF(AB191=0,0,$D191-SUM($E191:AA191))","v":0},{"$f":"IF(AC191=0,0,$D191-SUM($E191:AB191))","v":0},{"$f":"IF(AD191=0,0,$D191-SUM($E191:AC191))","v":0},{"$f":"IF(AE191=0,0,$D191-SUM($E191:AD191))","v":0},{"$f":"IF(AF191=0,0,$D191-SUM($E191:AE191))","v":0},{"$f":"IF(AG191=0,0,$D191-SUM($E191:AF191))","v":0},{"$f":"IF(AH191=0,0,$D191-SUM($E191:AG191))","v":0},{"$f":"IF(AI191=0,0,$D191-SUM($E191:AH191))","v":0},{"$f":"IF(AJ191=0,0,$D191-SUM($E191:AI191))","v":0},{"$f":"IF(AK191=0,0,$D191-SUM($E191:AJ191))","v":0},{"$f":"IF(AL191=0,0,$D191-SUM($E191:AK191))","v":0},{"$f":"IF(AM191=0,0,$D191-SUM($E191:AL191))","v":0}]
[]
[null,null,"Balance B/f"," ",null,{"$f":"IF(F78=1,F123,F163)","v":0},2.4748325500146664,13.116756179513155,38.894560029695747,48.775148320868567,47.026186234583619,45.157654172782934,43.155140770274784,41.012451429591067,38.719773835059485,36.269186372888164,33.644113237265152,30.835284982148526,27.829838749173739,24.615959939145817,21.174752132633959,17.492659779666269,13.552820961990843,9.3380100511794453,4.8268940844260886,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"All-In Rate","% p.p.",null,{"$f":"IF(F78=1,F144,F176)","v":4.0465655151550761E-2},7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2]
[null,null,"Annuity Payment (SPV)"," ",{"$f":"SUM(F196:AM196)","v":82.640176829954413},{"$f":"IF(F191=0,0,F195*F194/(1-(1+F195)^(-F192)))","v":0},{"$f":"IF(G191=0,0,G195*G194/(1-(1+G195)^(-G192)))","v":0},0,0,5.1632224687457517,5.1696932207752129,5.1635491946029566,5.1635491946029566,5.1635491946029566,5.1686520917579752,5.1639161817251873,5.1639161817251882,5.1639161817251873,5.1674878541679652,5.1643250022520677,5.1643250022520668,5.164325002252065,5.1661967180950343,5.1647766703359181,5.164776670335919,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"less: Interest (SPV)"," ",{"$f":"SUM(F197:AM197)","v":-33.865028509085825},{"$f":"IF(F191=0,0,-F183)","v":0},{"$f":"IF(G191=0,0,-G183)","v":0},{"$f":"IF(H191=0,0,-H183)","v":0},0,-3.4142603824608027,-3.3011611589745256,-3.161035792094808,-3.0208598539192377,-2.8708716000713772,-2.7180646295866531,-2.5388430461021736,-2.3550879266085629,-2.1584699487503989,-1.9536090441400429,-1.7231171957402087,-1.4822326492843785,-1.2244861845766399,-0.95138580728363575,-0.65366070358256179,-0.3378825859098265,{"$f":"IF(Z191=0,0,-Z183)","v":0},{"$f":"IF(AA191=0,0,-AA183)","v":0},{"$f":"IF(AB191=0,0,-AB183)","v":0},0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Principal Repayment (SPV)"," ",{"$f":"SUM(F198:AM198)","v":48.775148320868581},{"$f":"IF(F196=0,0,SUM(F196:F197))","v":0},{"$f":"IF(G196=0,0,SUM(G196:G197))","v":0},0,0,1.7489620862849491,{"$f":"IF(K196=0,0,SUM(K196:K197))","v":1.8685320618006873},{"$f":"IF(L196=0,0,SUM(L196:L197))","v":2.0025134025081486},{"$f":"IF(M196=0,0,SUM(M196:M197))","v":2.1426893406837189},2.2926775945315794,{"$f":"IF(O196=0,0,SUM(O196:O197))","v":2.4505874621713222},{"$f":"IF(P196=0,0,SUM(P196:P197))","v":2.6250731356230137},{"$f":"IF(Q196=0,0,SUM(Q196:Q197))","v":2.8088282551166253},3.0054462329747884,{"$f":"IF(S196=0,0,SUM(S196:S197))","v":3.2138788100279223},{"$f":"IF(T196=0,0,SUM(T196:T197))","v":3.441207806511859},{"$f":"IF(U196=0,0,SUM(U196:U197))","v":3.6820923529676883},3.9398388176754251,{"$f":"IF(W196=0,0,SUM(W196:W197))","v":4.2148109108113987},{"$f":"IF(X196=0,0,SUM(X196:X197))","v":4.5111159667533567},{"$f":"IF(Y196=0,0,SUM(Y196:Y197))","v":4.8268940844260921},0,{"$f":"IF(AA196=0,0,SUM(AA196:AA197))","v":0},{"$f":"IF(AB196=0,0,SUM(AB196:AB197))","v":0},{"$f":"IF(AC196=0,0,SUM(AC196:AC197))","v":0},0,{"$f":"IF(AE196=0,0,SUM(AE196:AE197))","v":0},{"$f":"IF(AF196=0,0,SUM(AF196:AF197))","v":0},{"$f":"IF(AG196=0,0,SUM(AG196:AG197))","v":0},0,{"$f":"IF(AI196=0,0,SUM(AI196:AI197))","v":0},{"$f":"IF(AJ196=0,0,SUM(AJ196:AJ197))","v":0},{"$f":"IF(AK196=0,0,SUM(AK196:AK197))","v":0},0,{"$f":"IF(AM196=0,0,SUM(AM196:AM197))","v":0}]
[]
[null,null,"Balance B/f"," ",null,{"$f":"IF(F78=1,F129,F168)","v":0},2474807.8016891661,13028030.705801088,38287131.185414635,48898936.047658235,46471062.399931401,43876268.88737876,41096404.294911608,38121949.180971757,34939282.209056117,31536260.50129452,27892144.065242976,23992939.478667825,19820790.571032416,15357902.304808401,10580801.211521393,5469303.0417042933,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"All-In Rate","% p.p.",null,{"$f":"IF(F78=1,F149,F181)","v":4.0465655151550761E-2},7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0000000000000062E-2,7.0198360175480534E-2]
[null,null,"Annuity Payment (Municipality)"," ",{"$f":"SUM(F202:AM202)","v":82153468.529830277},{"$f":"IF(F188=0,0,F201*F200/(1-(1+F201)^(-F189)))","v":0},{"$f":"IF(G188=0,0,G201*G200/(1-(1+G201)^(-G189)))","v":262321.75557833596},1430407.7419366208,4377939.6653261092,5850799.1710629156,5856985.8886402566,5851203.4145836644,5851203.4145836653,5851203.4145836644,5855702.0245456761,5851654.6711421609,5851654.6711421609,5851654.671142159,5854275.261692117,5852154.2546235966,5852154.2546235975,5852154.2546235984,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"less: Interest (Municipality)"," ",{"$f":"SUM(F203:AM203)","v":-30949652.101144169},{"$f":"IF(F78=1,-F152,-F184)","v":0},{"$f":"IF(G78=1,-G152,-G184)","v":-173727.44942806527},-911962.14940607699,-2680099.1829790268,-3422925.5233360794,-3262192.3760876153,-3071338.8221165161,-2876748.3006438152,-2668536.4426680254,-2452680.3167840806,-2207538.2350906185,-1952450.0845670099,-1679505.7635067492,-1391386.9954681019,-1075053.1613365889,-740656.08480649814,-382851.21291930089,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Principal Repayment (Municipality)"," ",{"$f":"SUM(F204:AM204)","v":51203816.428686127},{"$f":"IF(F202=0,0,SUM(F202:F203))","v":0},{"$f":"IF(G202=0,0,SUM(G202:G203))","v":88594.306150270684},518445.5925305438,1697840.4823470823,2427873.6477268361,{"$f":"IF(K202=0,0,SUM(K202:K203))","v":2594793.5125526413},{"$f":"IF(L202=0,0,SUM(L202:L203))","v":2779864.5924671483},{"$f":"IF(M202=0,0,SUM(M202:M203))","v":2974455.1139398501},3182666.971915639,{"$f":"IF(O202=0,0,SUM(O202:O203))","v":3403021.7077615955},{"$f":"IF(P202=0,0,SUM(P202:P203))","v":3644116.4360515424},{"$f":"IF(Q202=0,0,SUM(Q202:Q203))","v":3899204.586575151},4172148.9076354099,{"$f":"IF(S202=0,0,SUM(S202:S203))","v":4462888.2662240155},{"$f":"IF(T202=0,0,SUM(T202:T203))","v":4777101.0932870079},{"$f":"IF(U202=0,0,SUM(U202:U203))","v":5111498.1698170993},5469303.0417042971,{"$f":"IF(W202=0,0,SUM(W202:W203))","v":0},{"$f":"IF(X202=0,0,SUM(X202:X203))","v":0},{"$f":"IF(Y202=0,0,SUM(Y202:Y203))","v":0},0,{"$f":"IF(AA202=0,0,SUM(AA202:AA203))","v":0},{"$f":"IF(AB202=0,0,SUM(AB202:AB203))","v":0},{"$f":"IF(AC202=0,0,SUM(AC202:AC203))","v":0},0,{"$f":"IF(AE202=0,0,SUM(AE202:AE203))","v":0},{"$f":"IF(AF202=0,0,SUM(AF202:AF203))","v":0},{"$f":"IF(AG202=0,0,SUM(AG202:AG203))","v":0},0,{"$f":"IF(AI202=0,0,SUM(AI202:AI203))","v":0},{"$f":"IF(AJ202=0,0,SUM(AJ202:AJ203))","v":0},{"$f":"IF(AK202=0,0,SUM(AK202:AK203))","v":0},0,{"$f":"IF(AM202=0,0,SUM(AM202:AM203))","v":0}]
[]
[]
[null,null,"SPV Cashflow Waterfall"]
[null,null,"Revenue","USD ",{"$f":"SUM(F208:AM208)","v":65324436.229778476},{"$f":"F156","v":0},0,0,0,973845.29999999993,1260860.3999999999,1334535.1761269092,1356458.9640538183,1428873.7407927492,1451683.2497519059,1528656.6865505218,1558609.87374104,1647117.0435643813,1678280.3395173966,1772653.9851274411,1805076.2782369582,1914567.9582527571,1957222.117241683,2074337.7797276247,2118715.1667397027,2243892.1215389185,2309072.7867001737,2463317.7093282659,2531131.6733620353,2696810.4936458995,2767364.1418266343,2875455.3019465678,2879165.65315643,2991623.6961452086,2995483.945543949,3112485.2934694751,3116501.496943925,3238229.6993256421,3242408.1574204592]
[null,null,"OpEx","USD ",-120969946.98590454,{"$f":"-F160","v":0},0,0,0,-2408373.4333654698,-2475724.20411496,-2535175.8995964462,-2596077.0392713598,-4785830.953720307,-2722371.9091007602,-2787840.0358576458,-2854906.4461518228,-2923610.7107882928,-5331437.7862291681,-3066096.0746544697,-3139961.3801125558,-3215633.0047457665,-3293155.7411398049,-5940842.6329085147,-3453939.3747496242,-3537295.5989272944,-3622693.6482562213,-3710184.2355513703,-6621703.8447799217,-3891652.287643618,-3985737.6887442963,-4082131.5679473653,-4180891.3513726769,-7382623.5638480373,-4385745.607534782,-4491962.3163532941,-4600789.4782554163,-4712292.1333471388,-8233267.0368361529]
[null,null,"Operational Cashflow","USD ",-55645510.756126076,{"$f":"SUM(F208:F209)","v":0},{"$f":"SUM(G208:G209)","v":0},{"$f":"SUM(H208:H209)","v":0},0,-1434528.13336547,-1214863.8041149601,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-3653157.4467117712,-1293442.0895270286,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-3866504.85318089,-1335224.2080099215,-1293403.4773883759,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-1194841.7939977185,-1218373.546917662,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937]
[null,null,"Revenue Tax","USD ",0,{"$f":"'Global Financial Model'!C90","v":0},{"$f":"'Global Financial Model'!D90","v":0},{"$f":"'Global Financial Model'!E90","v":0},{"$f":"'Global Financial Model'!F90","v":0},{"$f":"'Global Financial Model'!G90","v":0},{"$f":"'Global Financial Model'!H90","v":0},{"$f":"'Global Financial Model'!I90","v":0},{"$f":"'Global Financial Model'!J90","v":0},{"$f":"'Global Financial Model'!K90","v":0},{"$f":"'Global Financial Model'!L90","v":0},{"$f":"'Global Financial Model'!M90","v":0},{"$f":"'Global Financial Model'!N90","v":0},{"$f":"'Global Financial Model'!O90","v":0},{"$f":"'Global Financial Model'!P90","v":0},{"$f":"'Global Financial Model'!Q90","v":0},{"$f":"'Global Financial Model'!R90","v":0},{"$f":"'Global Financial Model'!S90","v":0},{"$f":"'Global Financial Model'!T90","v":0},{"$f":"'Global Financial Model'!U90","v":0},{"$f":"'Global Financial Model'!V90","v":0},{"$f":"'Global Financial Model'!W90","v":0},{"$f":"'Global Financial Model'!X90","v":0},{"$f":"'Global Financial Model'!Y90","v":0},{"$f":"'Global Financial Model'!Z90","v":0},{"$f":"'Global Financial Model'!AA90","v":0},{"$f":"'Global Financial Model'!AB90","v":0},{"$f":"'Global Financial Model'!AC90","v":0},{"$f":"'Global Financial Model'!AD90","v":0},{"$f":"'Global Financial Model'!AE90","v":0},{"$f":"'Global Financial Model'!AF90","v":0},{"$f":"'Global Financial Model'!AG90","v":0},{"$f":"'Global Financial Model'!AH90","v":0},{"$f":"'Global Financial Model'!AI90","v":0},{"$f":"'Global Financial Model'!AJ90","v":0}]
[null,null,"CapEx (including intesrests during construction)","USD ",-69499079.885920912,{"$f":"-F114","v":-2474832.5500146663},-10641923.629498487,-25777803.850182589,{"$f":"-I114+I110","v":-11709768.442275105},0,0,0,0,0,0,0,0,0,-2287867.8715085625,-2840950.3493214482,0,0,0,-1468451.9507871973,-3818661.298967428,-2114569.5491114175,0,0,0,-2838968.0523294089,-3525282.341924604,0,0,0,0,0,0,0,0]
[null,null,"Anticipated treasury","USD ",null,{"$f":"-F110","v":0},{"$f":"-G110","v":0},{"$f":"-H110","v":0},-600000,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Cashflow before Funding","USD ",-125744590.64204702,{"$f":"SUM(F210:F213)","v":-2474832.5500146663},{"$f":"SUM(G210:G213)","v":-10641923.629498487},{"$f":"SUM(H210:H213)","v":-25777803.850182589},-12309768.442275105,-1434528.13336547,-1214863.8041149601,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-4033809.8463271274,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937]
[null,null,"Municipality: Funding (through debt )","USD ",51203816.428686127,{"$f":"-F116","v":2474807.8016891661},10641817.210262192,25777546.072144087,12309645.344590683,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Municipality: Funding (through subsidies)","USD ",58520297.870707035,{"$f":"+F157","v":0},{"$f":"+G157","v":0},{"$f":"+H157","v":0},0,1435656.7367187494,1471548.1551367179,1500979.1182394524,1530998.7006042413,1561618.6746163261,1592851.0481086527,1624708.0690708258,1657202.2304522423,1690346.2750612872,1724153.200562513,1758636.2645737634,1793808.9898652385,1829685.1696625433,1866278.8730557943,1903604.4505169103,1941676.5395272486,1980510.0703177936,2020120.2717241496,2060522.6771586325,2101733.1307018055,2143767.7933158418,2186643.1491821585,2230376.0121658016,2274983.5324091176,2320483.2030572998,2366892.8671184457,2414230.7244608146,2462515.338950031,2511765.6457290314,2562000.958643612]
[null,null,"Debt: Funding","USD ",48.775148320868567,{"$f":"F124","v":2.4748325500146664},10.641923629498489,25.777803850182593,9.8805882911728204,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Equity: Funding","USD ",463.26813639847569,{"$f":"-F119","v":22.273492950156964},95.77731266542672,232.00023465155692,113.21709613133507,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"CashFlow after Funding","USD ",-16019964.299369106,{"$f":"SUM(F214:F218)","v":0},0,0,0,1128.6033532794099,256684.35102175782,300338.39476991538,291380.6253866998,-1795338.5383112314,322162.38875979837,365524.71976370178,360905.65804145951,413852.60783737572,-4216872.1176578216,-2375756.1742747137,458923.88798964093,528620.12316953391,530345.24915767228,-3431352.3534511765,-3212208.9674501009,-1427462.9561819998,706499.41016810201,813656.1509355281,-1988839.0407160809,-1890042.0530112856,-2557012.7396601075,1023699.7461650041,973257.83419287065,-2070516.6646455289,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,-2428857.9207720817]
[null,null,"Treasury: Funding","USD ",33926323.467451282,{"$f":"IF(F78=1,0,-F115+IF(F191=1,IF(F219/F196>1.7,0,1.7*F196+IF(F219<0,-F219,0)),0))","v":0},0,0,0,0,0,0,0,1795347.3163448623,0,0,0,0,6504748.7738957368,5216715.3029486658,0,0,0,4899813.0843587136,7030879.0465378687,2114569.5491114175,0,0,0,2838968.0523294089,3525282.341924604,0,0,0,0,0,0,0,0]
[null,null,"CashFlow Available for Debt Service (CFADS)","USD ",17906359.168082174,{"$f":"SUM(F219:F220)","v":0},{"$f":"SUM(G219:G220)","v":0},0,0,1128.6033532794099,256684.35102175782,300338.39476991538,291380.6253866998,8.7780336309224367,322162.38875979837,365524.71976370178,360905.65804145951,413852.60783737572,2287876.6562379152,2840959.1286739521,458923.88798964093,528620.12316953391,530345.24915767228,1468460.730907537,3818670.0790877678,687106.59292941773,706499.41016810201,813656.1509355281,-1988839.0407160809,948925.99931812333,968269.6022644965,1023699.7461650041,973257.83419287065,-2070516.6646455289,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,-2428857.9207720817]
[null,null,"Interests","USD ",-33.865028509085825,{"$f":"-F197","v":0},{"$f":"-G197","v":0},0,0,{"$f":"J197","v":-3.4142603824608027},{"$f":"K197","v":-3.3011611589745256},-3.161035792094808,-3.0208598539192377,-2.8708716000713772,-2.7180646295866531,-2.5388430461021736,-2.3550879266085629,-2.1584699487503989,-1.9536090441400429,-1.7231171957402087,-1.4822326492843785,-1.2244861845766399,-0.95138580728363575,-0.65366070358256179,-0.3378825859098265,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Principal Repayment","USD ",-48.775148320868581,{"$f":"F198","v":0},{"$f":"G198","v":0},{"$f":"H198","v":0},0,{"$f":"-J198","v":-1.7489620862849491},{"$f":"-K198","v":-1.8685320618006873},-2.0025134025081486,-2.1426893406837189,-2.2926775945315794,-2.4505874621713222,-2.6250731356230137,-2.8088282551166253,-3.0054462329747884,-3.2138788100279223,-3.441207806511859,-3.6820923529676883,-3.9398388176754251,-4.2148109108113987,-4.5111159667533567,-4.8268940844260921,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Cashflow available for Debt Service reserve Account (DSRA)","USD ",17906276.527905349,{"$f":"SUM(F221:F223)","v":0},{"$f":"SUM(G221:G223)","v":0},0,0,1123.4401308106642,256679.18132853703,300333.2312207208,291375.46183750517,3.6144844363194806,322157.22010770661,365519.55584752007,360900.49412527779,413847.443921194,2287871.488750061,2840953.96434895,458918.7236646387,528614.95884453168,530340.08296095417,1468455.5661308665,3818664.9143110975,687106.59292941773,706499.41016810201,813656.1509355281,-1988839.0407160809,948925.99931812333,968269.6022644965,1023699.7461650041,973257.83419287065,-2070516.6646455289,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,-2428857.9207720817]
[null,null,"Treasury: Deduction","USD ",-24394490.154039036,{"$f":"IF(F231<$E$220,IF(F224>0,-F224*$E$28,0),0)","v":0},0,0,0,-1123.4401308106642,-256679.18132853703,-300333.2312207208,-291375.46183750517,-3.6144844363194806,-322157.22010770661,-365519.55584752007,-360900.49412527779,-413847.443921194,-2287871.488750061,-2840953.96434895,-458918.7236646387,-528614.95884453168,-530340.08296095417,-1468455.5661308665,-3818664.9143110975,-687106.59292941773,-706499.41016810201,-813656.1509355281,0,-948925.99931812333,-968269.6022644965,-1023699.7461650041,-973257.83419287065,0,-976631.20512761269,-1034753.7015769957,-978227.35763853975,-1037703.2117075347,0]
[null,null,"Cashflow available to Equity","USD ",-6488213.6261336915,{"$f":"F224+F225","v":0},{"$f":"G224+G225","v":0},{"$f":"H224+H225","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,-1988839.0407160809,0,0,0,0,-2070516.6646455289,0,0,0,0,-2428857.9207720817]
[null,null,"Distributions to Equity","USD ",0,{"$f":"-MAX(F226,0)*F79","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Treasury: Add back","USD ",-9531833.3134122416,{"$f":"-F225-F220","v":0},0,0,0,{"$f":"-J225-J220","v":1123.4401308106642},{"$f":"-K225-K220","v":256679.18132853703},300333.2312207208,291375.46183750517,-1795343.701860426,322157.22010770661,365519.55584752007,360900.49412527779,413847.443921194,-4216877.2851456758,-2375761.3385997158,458918.7236646387,528614.95884453168,530340.08296095417,-3431357.5182278473,-3212214.1322267712,-1427462.9561819998,706499.41016810201,813656.1509355281,0,-1890042.0530112856,-2557012.7396601075,1023699.7461650041,973257.83419287065,0,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,0]
[null,null,"Net Cashflow","USD ",8974443.2144930977,{"$f":"F224+F227+F228-F213","v":0},{"$f":"G224+G227+G228-G213","v":0},0,600000,{"$f":"J224+J227+J228-J213","v":2246.8802616213284},{"$f":"K224+K227+K228-K213","v":513358.36265707406},{"$f":"L224+L227+L228-L213","v":600666.4624414416},{"$f":"M224+M227+M228-M213","v":582750.92367501033},{"$f":"N224+N227+N228-N213","v":-1795340.0873759896},{"$f":"O224+O227+O228-O213","v":644314.44021541323},{"$f":"P224+P227+P228-P213","v":731039.11169504013},{"$f":"Q224+Q227+Q228-Q213","v":721800.98825055559},{"$f":"R224+R227+R228-R213","v":827694.88784238801},{"$f":"S224+S227+S228-S213","v":-1929005.7963956147},{"$f":"T224+T227+T228-T213","v":465192.62574923411},{"$f":"U224+U227+U228-U213","v":917837.44732927741},{"$f":"V224+V227+V228-V213","v":1057229.9176890634},{"$f":"W224+W227+W228-W213","v":1060680.1659219083},{"$f":"X224+X227+X228-X213","v":-1962901.9520969808},{"$f":"Y224+Y227+Y228-Y213","v":606450.78208432626},{"$f":"Z224+Z227+Z228-Z213","v":-740356.36325258203},{"$f":"AA224+AA227+AA228-AA213","v":1412998.820336204},{"$f":"AB224+AB227+AB228-AB213","v":1627312.3018710562},{"$f":"AC224+AC227+AC228-AC213","v":-1988839.0407160809},{"$f":"AD224+AD227+AD228-AD213","v":-941116.05369316228},{"$f":"AE224+AE227+AE228-AE213","v":-1588743.137395611},{"$f":"AF224+AF227+AF228-AF213","v":2047399.4923300082},{"$f":"AG224+AG227+AG228-AG213","v":1946515.6683857413},{"$f":"AH224+AH227+AH228-AH213","v":-2070516.6646455289},{"$f":"AI224+AI227+AI228-AI213","v":1953262.4102552254},{"$f":"AJ224+AJ227+AJ228-AJ213","v":2069507.4031539913},{"$f":"AK224+AK227+AK228-AK213","v":1956454.7152770795},{"$f":"AL224+AL227+AL228-AL213","v":2075406.4234150695},{"$f":"AM224+AM227+AM228-AM213","v":-2428857.9207720817}]
[]
[null,null,"Cash Balance B/f",null,null,{"$f":"E232","v":0},{"$f":"F232","v":0},0,0,600000,{"$f":"J232","v":602246.88026162132},{"$f":"K232","v":1115605.2429186953},{"$f":"L232","v":1716271.7053601369},{"$f":"M232","v":2299022.6290351474},{"$f":"N232","v":503682.54165915772},{"$f":"O232","v":1147996.9818745709},{"$f":"P232","v":1879036.0935696112},{"$f":"Q232","v":2600837.0818201667},{"$f":"R232","v":3428531.9696625546},{"$f":"S232","v":1499526.1732669398},{"$f":"T232","v":1964718.7990161739},{"$f":"U232","v":2882556.2463454511},{"$f":"V232","v":3939786.1640345147},{"$f":"W232","v":5000466.3299564235},{"$f":"X232","v":3037564.3778594425},{"$f":"Y232","v":3644015.1599437688},{"$f":"Z232","v":2903658.7966911867},{"$f":"AA232","v":4316657.6170273907},{"$f":"AB232","v":5943969.9188984465},{"$f":"AC232","v":3955130.8781823656},{"$f":"AD232","v":3014014.8244892033},{"$f":"AE232","v":1425271.6870935922},{"$f":"AF232","v":3472671.1794236004},{"$f":"AG232","v":5419186.8478093417},{"$f":"AH232","v":3348670.1831638128},{"$f":"AI232","v":5301932.5934190378},{"$f":"AJ232","v":7371439.9965730291},{"$f":"AK232","v":9327894.7118501086},{"$f":"AL232","v":11403301.135265179}]
[null,null,"Cash Balance C/f","USD ",null,{"$f":"F229+F231","v":0},{"$f":"G229+G231","v":0},0,600000,{"$f":"J229+J231","v":602246.88026162132},{"$f":"K229+K231","v":1115605.2429186953},1716271.7053601369,2299022.6290351474,503682.54165915772,1147996.9818745709,1879036.0935696112,2600837.0818201667,3428531.9696625546,1499526.1732669398,1964718.7990161739,2882556.2463454511,3939786.1640345147,5000466.3299564235,3037564.3778594425,3644015.1599437688,2903658.7966911867,4316657.6170273907,5943969.9188984465,3955130.8781823656,3014014.8244892033,1425271.6870935922,3472671.1794236004,5419186.8478093417,3348670.1831638128,5301932.5934190378,7371439.9965730291,9327894.7118501086,11403301.135265179,8974443.2144930977]
[]
[null,null,"Close out: Distribution of remaining treasury to Equity","USD ",{"$f":"SUM(F234:AM234)","v":-8974443.2144930977},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"-AM232","v":-8974443.2144930977}]
[null,null,"Close out: Asset transfer to municipality","USD ",0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,"Municipality Cashflow Waterfall"]
[]
[null,null,{"$f":"C157","v":"Municipal direct subsidies (if any)"},"USD ",{"$f":"E157","v":58520297.870707035},0,0,0,0,1435656.7367187494,1471548.1551367179,1500979.1182394524,1530998.7006042413,1561618.6746163261,1592851.0481086527,1624708.0690708258,1657202.2304522423,1690346.2750612872,1724153.200562513,1758636.2645737634,1793808.9898652385,1829685.1696625433,1866278.8730557943,1903604.4505169103,1941676.5395272486,1980510.0703177936,2020120.2717241496,2060522.6771586325,2101733.1307018055,2143767.7933158418,2186643.1491821585,2230376.0121658016,2274983.5324091176,2320483.2030572998,2366892.8671184457,2414230.7244608146,2462515.338950031,2511765.6457290314,2562000.958643612]
[null,null,"Annuity payment - Interest","USD ",{"$f":"-E203","v":30949652.101144169},{"$f":"-F203","v":0},{"$f":"-G203","v":173727.44942806527},{"$f":"-H203","v":911962.14940607699},2680099.1829790268,3422925.5233360794,3262192.3760876153,3071338.8221165161,2876748.3006438152,2668536.4426680254,2452680.3167840806,2207538.2350906185,1952450.0845670099,1679505.7635067492,1391386.9954681019,1075053.1613365889,740656.08480649814,382851.21291930089,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Annuity payment - Principal","USD ",{"$f":"E204","v":51203816.428686127},{"$f":"F204","v":0},{"$f":"G204","v":88594.306150270684},518445.5925305438,1697840.4823470823,2427873.6477268361,2594793.5125526413,2779864.5924671483,2974455.1139398501,3182666.971915639,3403021.7077615955,3644116.4360515424,3899204.586575151,4172148.9076354099,4462888.2662240155,4777101.0932870079,5111498.1698170993,5469303.0417042971,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,{"$f":"C235","v":"Close out: Asset transfer to municipality"},"USD ",{"$f":"-E235","v":0},{"$f":"-F235","v":0},{"$f":"-G235","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"TOTAL","USD ",{"$f":"-E236","v":0},{"$f":"SUM(F240:F243)","v":0},{"$f":"SUM(G240:G243)","v":262321.75557833596},1430407.7419366208,4377939.6653261092,7286455.9077816643,7328534.0437769741,7352182.5328231174,7382202.1151879057,7412822.089199991,7448553.0726543292,7476362.7402129862,7508856.9015944032,7542000.946203446,7578428.4622546304,7610790.5191973597,7645963.2444888363,7681839.4242861411,1866278.8730557943,1903604.4505169103,1941676.5395272486,1980510.0703177936,2020120.2717241496,2060522.6771586325,2101733.1307018055,2143767.7933158418,2186643.1491821585,2230376.0121658016,2274983.5324091176,2320483.2030572998,2366892.8671184457,2414230.7244608146,2462515.338950031,2511765.6457290314,2562000.958643612]
[]
[null,null,"Project Return"]
[]
[null,null,"Date",null,null,{"$f":"F77","v":"2015-12-31"},"2016-12-31","2017-12-31","2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31","2024-12-31","2025-12-31","2026-12-31","2027-12-31","2028-12-31","2029-12-31","2030-12-31","2031-12-31","2032-12-31","2033-12-31","2034-12-31","2035-12-31","2036-12-31","2037-12-31","2038-12-31","2039-12-31","2040-12-31","2041-12-31","2042-12-31","2043-12-31","2044-12-31","2045-12-31","2046-12-31","2047-12-31","2048-12-31"]
[null,null,{"$f":"C214","v":"Cashflow before Funding"},"USD ",{"$f":"SUM(F249:AM249)","v":-125744590.64204702},{"$f":"F214","v":-2474832.5500146663},-10641923.629498487,-25777803.850182589,-12309768.442275105,-1434528.13336547,-1214863.8041149601,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-4033809.8463271274,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937]
[null,null,"Residual value ","USD ",{"$f":"SUM(F250:AM250)","v":0},{"$f":"-F235","v":0},{"$f":"-G235","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Cashflow for Project Return calculation","USD ",null,{"$f":"SUM(F249:F250)","v":-2474832.5500146663},{"$f":"SUM(G249:G250)","v":-10641923.629498487},-25777803.850182589,-12309768.442275105,-1434528.13336547,-1214863.8041149601,-1200640.723469537,-1239618.0752175415,-3356957.2129275575,-1270688.6593488543,-1259183.349307124,-1296296.5724107828,-1276493.6672239115,-5941025.3182203341,-4134392.4388484769,-1334885.1018755976,-1301065.0464930094,-1335933.623898122,-5334956.8039680868,-5153885.5069773495,-3407973.0264997934,-1313620.8615560476,-1246866.5262231044,-4090572.1714178864,-4033809.8463271274,-4743655.8888422661,-1206676.2660007975,-1301725.6982162469,-4390999.8677028287,-1390261.661990833,-1379477.022883819,-1484287.9813114912,-1474062.4340214967,-4990858.8794156937]
[null,null," "]
[]
[null,null,"Discount Factor (WACC)","%",{"$f":"E29","v":0.13}]
[null,null,"NPV project @ WACC","USD ",{"$f":"NPV(E254,F251:AM251)","v":-45308815.441608623}]
[]
[null,null,"IRR Project","%",{"$f":"IRR(F251:AM251)","v":{"$error":"#NUM!"}}]
[null,null,"Check: NPV @ IRR","USD ",{"$f":"NPV(E257,F251:AM251)","v":{"$error":"#NUM!"}},{"$f":"IF(ROUND(E258,3)=0,0,1)","v":{"$error":"#NUM!"}}]
[]
[]
[null,null,"Equity Return"]
[]
[null,null,"Date",null,null,{"$f":"F248","v":"2015-12-31"},{"$f":"G248","v":"2016-12-31"},"2017-12-31","2018-12-31","2019-12-31","2020-12-31","2021-12-31","2022-12-31","2023-12-31","2024-12-31","2025-12-31","2026-12-31","2027-12-31","2028-12-31","2029-12-31","2030-12-31","2031-12-31","2032-12-31","2033-12-31","2034-12-31","2035-12-31","2036-12-31","2037-12-31","2038-12-31","2039-12-31","2040-12-31","2041-12-31","2042-12-31","2043-12-31","2044-12-31","2045-12-31","2046-12-31","2047-12-31","2048-12-31"]
[null,null,{"$f":"C218","v":"Equity: Funding"},"USD ",{"$f":"SUM(F264:AM264)","v":-463.26813639847569},{"$f":"-F218","v":-22.273492950156964},-95.77731266542672,-232.00023465155692,-113.21709613133507,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Distributions to Equity","USD ",{"$f":"SUM(F265:AM265)","v":0},{"$f":"-F227","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Close out: Distribution of remaining treasury to Equity","USD ",{"$f":"SUM(F266:AM266)","v":8974443.2144930977},{"$f":"-F234","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,8974443.2144930977]
[null,null,"Close out: Asset transfer to municipality","USD ",{"$f":"SUM(F267:AM267)","v":0},{"$f":"-F235","v":0},0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Cashflow for Equity Return calculation","USD ",null,{"$f":"SUM(F264:F267)","v":-22.273492950156964},{"$f":"SUM(G264:G267)","v":-95.77731266542672},-232.00023465155692,-113.21709613133507,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,0,8974443.2144930977]
[]
[]
[null,null,"Discount Factor (WACC)","%",{"$f":"E29","v":0.13}]
[null,null,"NPV Equity @ WACC","USD ",{"$f":"NPV(E271,F268:AM268)","v":140390.0684056232}]
[]
[null,null,"IRR Equity","%",{"$f":"IRR(F268:AM268)","v":0.37268109274898054}]
[null,null,"Check: NPV Equity @ IRR","USD ",{"$f":"NPV(E274,F268:AM268)","v":8.9299271925366781E-9},{"$f":"IF(ROUND(E275,3)=0,0,1)","v":0}]
[]
[]
[null,null,"Financial viability indicators"]
[]
[null,null,"LLCR"]
[]
[null,null,"Cost of Debt \"r\"","% p.a.",null,{"$f":"F143+F175","v":7.0000000000000007E-2},7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2,7.0000000000000007E-2]
[null,null,"\"1+r\"","Factor",null,{"$f":"(1+F282)","v":1.07},{"$f":"(1+G282)","v":1.07},{"$f":"(1+H282)","v":1.07},{"$f":"(1+I282)","v":1.07},{"$f":"(1+J282)","v":1.07},1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,{"$f":"(1+AC282)","v":1.07},1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07,1.07]
[]
[null,null,null,"Start","End"]
[null,null,"Flag: Debt Repayment",{"$f":"E38","v":"2019-12-31"},{"$f":"E40","v":"2034-12-31"},{"$f":"F98","v":0},0,0,0,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,1,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"Numerator"]
[null,null,"CFADS @ Period End","USD ",{"$f":"SUM(F289:AA289)","v":15639447.985289158},{"$f":"F221","v":0},{"$f":"G221","v":0},0,0,{"$f":"J221","v":1128.6033532794099},256684.35102175782,300338.39476991538,291380.6253866998,8.7780336309224367,322162.38875979837,365524.71976370178,360905.65804145951,413852.60783737572,2287876.6562379152,2840959.1286739521,458923.88798964093,528620.12316953391,530345.24915767228,1468460.730907537,3818670.0790877678,687106.59292941773,706499.41016810201,813656.1509355281,-1988839.0407160809,948925.99931812333,968269.6022644965,1023699.7461650041,973257.83419287065,-2070516.6646455289,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,-2428857.9207720817]
[null,null,"CFADS (Qualifying) @ Period End","USD ",{"$f":"SUM(F290:AA290)","v":14245841.982191639},{"$f":"F289*F286","v":0},{"$f":"G289*G286","v":0},0,0,1128.6033532794099,256684.35102175782,300338.39476991538,291380.6253866998,8.7780336309224367,322162.38875979837,365524.71976370178,360905.65804145951,413852.60783737572,2287876.6562379152,2840959.1286739521,458923.88798964093,528620.12316953391,530345.24915767228,1468460.730907537,3818670.0790877678,0,0,0,{"$f":"AC289*AC286","v":0},0,0,0,0,0,0,0,0,0,0]
[null,null,"NPV (CFADS) @ Period Start","USD ",null,{"$f":"(G291+F290)/F283*F286","v":0},0,0,0,6537493.5627384158,6993989.5087768259,7226884.4233694458,7432427.9382353919,7661317.2685251692,8197600.6992883002,8449270.3594786841,8675194.5648784917,8921552.5263785254,9132208.5953876469,7483586.5408268692,5166478.4700107984,5069208.0749219134,4895432.5169969136,4707767.5440290263,3568850.5412035212,0,0,0,0,0,0,0,0,0,0,0,0,0,{"$f":"(AN291+AM290)/AM283*AM286","v":0}]
[null,null,null,null,null,null,null,null,null,{"$f":"NPV(0.08,J219:Y219)","v":-4164150.4103810228},{"$f":"IF(J291=J292,\"OK\")","v":false}]
[null,null,"Denominator"]
[null,null,"Debt Balance B/f","USD ",null,{"$f":"F163","v":0},0,0,0,48.775148320868567,47.026186234583619,45.157654172782934,43.155140770274784,41.012451429591067,38.719773835059485,36.269186372888164,33.644113237265152,30.835284982148526,27.829838749173739,24.615959939145817,21.174752132633959,17.492659779666269,13.552820961990843,9.3380100511794453,4.8268940844260886,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[]
[null,null,"LLCR (Loan Life Cover Ratio)","x @ Period Start",{"$f":"MIN(F297:AM297)","v":134033.28924253283},{"$f":"IF(F294=0,0,F291/F294)","v":0},0,0,0,{"$f":"IF(J294=0,0,J291/J294)","v":134033.28924253283},148725.42446645105,160036.75469318725,172225.78366271581,186804.66544844036,211716.13073487641,232960.0193566696,257851.78238163833,289329.33590668876,328144.50265755778,304013.59765482915,243992.39422729114,289790.58295150957,361211.33236587804,504151.04698183609,739367.89968488668,0,0,0,{"$f":"IF(AC294=0,0,AC291/AC294)","v":0},0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,null,{"$f":"IF(F296=0,10000000,F296)","v":10000000},{"$f":"IF(G296=0,10000000,G296)","v":10000000},10000000,10000000,134033.28924253283,148725.42446645105,160036.75469318725,172225.78366271581,186804.66544844036,211716.13073487641,232960.0193566696,257851.78238163833,289329.33590668876,328144.50265755778,304013.59765482915,243992.39422729114,289790.58295150957,361211.33236587804,504151.04698183609,739367.89968488668,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000]
[]
[null,null,"DSCR"]
[]
[null,null,"Numerator"]
[null,null,{"$f":"C289","v":"CFADS @ Period End"},"USD ",{"$f":"SUM(F302:AM302)","v":17906359.168082174},{"$f":"F289","v":0},{"$f":"G289","v":0},0,0,1128.6033532794099,256684.35102175782,300338.39476991538,291380.6253866998,8.7780336309224367,322162.38875979837,365524.71976370178,360905.65804145951,413852.60783737572,2287876.6562379152,2840959.1286739521,458923.88798964093,528620.12316953391,530345.24915767228,1468460.730907537,3818670.0790877678,687106.59292941773,706499.41016810201,813656.1509355281,{"$f":"AC289","v":-1988839.0407160809},948925.99931812333,968269.6022644965,1023699.7461650041,973257.83419287065,-2070516.6646455289,976631.20512761269,1034753.7015769957,978227.35763853975,1037703.2117075347,-2428857.9207720817]
[]
[null,null,"Denominator"]
[null,null,"Interest","USD ",{"$f":"SUM(F305:AM305)","v":33.865028509085825},{"$f":"-F222","v":0},0,0,0,3.4142603824608027,3.3011611589745256,3.161035792094808,3.0208598539192377,2.8708716000713772,2.7180646295866531,2.5388430461021736,2.3550879266085629,2.1584699487503989,1.9536090441400429,1.7231171957402087,1.4822326492843785,1.2244861845766399,0.95138580728363575,0.65366070358256179,0.3378825859098265,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Principal","USD ",{"$f":"SUM(F306:AM306)","v":48.775148320868581},{"$f":"-F223","v":0},0,0,0,1.7489620862849491,1.8685320618006873,2.0025134025081486,2.1426893406837189,2.2926775945315794,2.4505874621713222,2.6250731356230137,2.8088282551166253,3.0054462329747884,3.2138788100279223,3.441207806511859,3.6820923529676883,3.9398388176754251,4.2148109108113987,4.5111159667533567,4.8268940844260921,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,"Total Debt Service","USD ",null,{"$f":"SUM(F305:F306)","v":0},0,0,0,5.1632224687457517,5.1696932207752129,5.1635491946029566,5.1635491946029566,5.1635491946029566,5.1686520917579752,5.1639161817251873,5.1639161817251882,5.1639161817251873,5.1674878541679652,5.1643250022520677,5.1643250022520668,5.164325002252065,5.1661967180950343,5.1647766703359181,5.164776670335919,0,0,0,{"$f":"SUM(AC305:AC306)","v":0},0,0,0,0,0,0,0,0,0,0]
[]
[]
[null,null,"DSCR (Debt Service Cover Ratio)",null,"Average",{"$f":"IF(F307=0,0,F302/F307)","v":0},0,0,0,218.5850716507224,49651.756895405706,58165.107651890874,56430.299084059581,1.7000000000188651,62330.058792992524,70784.402166958767,69889.914038241855,80143.169113003256,442744.46709972847,550112.38205090922,88864.253854959301,102359.96435913941,102656.80501481755,284322.21267991984,739367.8996848861,0,0,0,0,0,0,0,0,0,0,0,0,0,0]
[null,null,null,null,{"$f":"AVERAGEIF(F286:AM286,1,F310:AM310)","v":172377.68609741019}]
[null,null,null,null,"Min"]
[null,null,null,null,{"$f":"MIN(F313:AM313)","v":1.7000000000188651},{"$f":"IF(F310=0,10000000,F310)","v":10000000},{"$f":"IF(G310=0,10000000,G310)","v":10000000},10000000,10000000,218.5850716507224,49651.756895405706,58165.107651890874,56430.299084059581,1.7000000000188651,62330.058792992524,70784.402166958767,69889.914038241855,80143.169113003256,442744.46709972847,550112.38205090922,88864.253854959301,102359.96435913941,102656.80501481755,284322.21267991984,739367.8996848861,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000,10000000]
[null,null,null,null,"Min Period",null,null,null,null,null,null,null,null,null,null,null,null,null," "]
[null,null,null,null,{"$f":"INDEX(F248:AA248,1,MATCH(E313,F313:AM313,0))","v":"2023-12-31"}]

{"sheet":"Balance_SPV","index":3,"n_rows":181,"n_cols":7,"rows_kept":181,"cut":false,"hidden":true,"merged":[[1,1,1,6]]}
[]
[null,"Usos y recursos del concesionario (flujos de caja)"]
[null,"Usos","USD 2015","%","Recursos","USD 2015","%"]
[null,"Durante la construccion",null,null,"Durante la construccion"]
[]
[null,"Inversion inicial",{"$f":"NPV(0,'Project Finance Model'!$F$109:$AM$109)","v":50604324.169698045},{"$f":"C6/C$21","v":0.24215447153204078},"Deuda privada",{"$f":"-NPV(0,'Project Finance Model'!$F$117:$AM$117)","v":48.775148320868567},{"$f":"F6/F$21","v":2.3340140312770649E-7}]
[null,"Interes durante la construccion",{"$f":"NPV(0,'Project Finance Model'!$F$112:$AM$112)","v":3.814521321364559},{"$f":"C7/C$21","v":1.825344789953448E-8},"Aportacion de capital privado",{"$f":"-NPV(0,'Project Finance Model'!$F$119:$AM$119)","v":463.26813639847569},{"$f":"F7/F$21","v":2.2168550333961638E-6}]
[null,"Upfront fee",{"$f":"NPV(0,'Project Finance Model'!$F$113:$AM$113)","v":0.48775148320868567},{"$f":"C8/C$21","v":2.334014031277065E-9},"Aportacion municipal",{"$f":"-NPV(0,'Project Finance Model'!$F$116:$AM$116)","v":51203816.428686127},{"$f":"F8/F$21","v":0.2450231933961248}]
[]
[]
[null,"Durante la operacion",null,null,"Durante la operacion"]
[]
[null,"Operacion y mantenimiento",{"$f":"-NPV(0,'Project Finance Model'!$F$209:$AM$209)","v":120969946.98590454},{"$f":"C13/C$21","v":0.57887174790433527},"Deuda",0,{"$f":"F13/F$21","v":0}]
[null,"Renovaciones",{"$f":"NPV(0,'Project Finance Model'!$F$106:$AM$106)","v":18894751.413950067},9.0416157481540776E-2,"Aportacion de capital privado",0,{"$f":"F14/F$21","v":0}]
[null,"Impuesto a la renta",{"$f":"-NPV(0,'Project Finance Model'!$F$211:$AM$211)","v":0},0,"Aportacion municipal",{"$f":"NPV(0,'Project Finance Model'!$F$157:$AM$157)","v":58520297.870707035},{"$f":"F15/F$21","v":0.28003440491088039}]
[null,"Intereses",{"$f":"-NPV(0,'Project Finance Model'!$F$222:$AM$222)","v":33.865028509085825},1.6205271420156001E-7,"Autofinanciamento sobre Tesoreria",{"$f":"'Project Finance Model'!E220","v":33926323.467451282},{"$f":"F16/F$21","v":0.16234602605769291}]
[null,"Principal de la deuda",{"$f":"-NPV(0,'Project Finance Model'!$F$223:$AM$223)","v":48.775148320868581},2.3340140312770654E-7,"Ingresos de operacion",{"$f":"NPV(0,'Project Finance Model'!$F$208:$AM$208)","v":65324436.229778476},{"$f":"F17/F$21","v":0.31259392537886538}]
[null,"Constitucion de la Tesoreria",{"$f":"'Project Finance Model'!E229-'Project Finance Model'!E228","v":18506276.527905338},8.8557207040503946E-2]
[null,"Dividendo a privados (Equity)",{"$f":"-NPV(0,'Project Finance Model'!$F$227:$AM$227)","v":0},0]
[]
[null,"Total",{"$f":"SUM(C6:C19)","v":208975386.03990763},{"$f":"SUM(D6:D19)","v":1},"Total",{"$f":"SUM(F6:F19)","v":208975386.03990763},{"$f":"SUM(G6:G19)","v":1}]
[]
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[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Financement des renouvellements d'équipement sur la trésorerie du SPV. Déblocage de fonds de la part du SPV pour financer les renouvellements d'équipement. "]
[null,"Part de la dette municipale dans le financement de la construction"]
[null,"Part de la dette privée dans le financement de la construction"]
[]
[null,"Part du capital privé dans le financement de la construction"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Calcul des intérêts à rembourser par le SPV durant la construction"]
[null,"Calcul des intérêts à rembourser par le maire durant la construction"]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[]
[null,"Calcul des intérêts à rembourser par le SPV durant l'exploitation"]
[null,"Calcul des intérêts à rembourser par le maire durant l'exploitation"]
[]
[]
[]
[null,"Hypothèse: le remboursement de la dette du SPV commence à la fin de la première année de construction"]
[null,"Hypothèse: le remboursement de la dette du SPV commence à la fin de la première année d'exploitation"]

{"sheet":"Balance_Municipality","index":4,"n_rows":4,"n_cols":6,"rows_kept":4,"cut":false,"hidden":true,"merged":[[1,1,1,5]]}
[]
[null,"Aportacion municipal (flujos de caja)"]
[null,"Total","Pago de la deuda - Intereses","Pago de la deuda - Principal","Subsidios Municipal","Transferencia de activos"]
[null,{"$f":"C4+D4+E4+F4","v":140673766.40053731},{"$f":"'Project Finance Model'!E241","v":30949652.101144169},{"$f":"'Project Finance Model'!E242","v":51203816.428686127},{"$f":"SUM('Project Finance Model'!$F$157:$AM$157)","v":58520297.870707035},{"$f":"SUM('Project Finance Model'!$F$243:$AM$243)","v":0}]