Sohar-2 IPP Project Financial Modeling Summary
June 25th, 2015
OMR Mn
COP (OMR millions) Capex Interest Capitalised Annual Total % Cumulative Total %
2011 77.4 5.0 82.3 27% 82.3 27%
2012 118.8 6.2 125.0 41% 207.4 69%
2013 55.8 9.6 65.4 22% 272.8 90%
2014 18.5 11.0 29.5 10% 302.2 100%
Total 270.5 31.7 302.2 100%
% 89% 11% 100%
COP
350.0 300.0
3.50
Cumulative Total
3.00
Annual Total 250.0
DSCR LLCR
2.50
200.0
2.00 150.0
MOF (OMR millions) Debt Equity Total Asset
2011 64.0 18.4 82.3
2012 97.1 27.9 125.0
2013 50.8 14.6 65.4
2014 22.9 6.6 29.5
Total 234.7 67.5 302.2
% 78% 22% 100%
1.50
100.0
1.00
50.0
0.50
‐ 2011
2012
2013
2014
OMR Mn Debt/Equity
3.48
IRR Project Equity
9% 13%
DSCR Average MAX MIN
1.50 2.03 1.13
250.0 200.0 150.0 100.0
Financial C/f Av O/s
50.0 Drawdown
LLCR Average MAX MIN
1.63 2.08 1.36
0.0 (50.0)
Repayment Amount Undrawn Amount
(100.0) (150.0) (200.0) (250.0) *
This excel file is only for financial modeling practice purpose. Deferred tax,other income from LD and other activities during construction stage (2010~2013) are needed to be incoporated and adjusted. To get more precise result, further development with more relevant data is required.
Ji Won Seo
[email protected] http://pfcasestudy.blogspot.com https://www.linkedin.com/profile/view?id=69053747&trk=nav_responsive_tab_profile Source: Al Batinah Power Company SAOG IPO Prospectus