Special Purpose Entity (SPE) ESCO Financial Model

This financial model has been created in order to support the

activities of the above organizations in their efforts to promote
the
commercial financing of energy efficiency projects in Brazil by
independent energy services companies (ESCOs). Financial
support for the creation of this project has been provided by the
World Bank through the UN Foundation and the United States
Agency for International Development.

(Scroll down for further information)

Instructions:

Enter Data only in YELLOW and AQUA BLUE cells.

1) Go to Worksheet "Inputs"
2) Enter costs and savings from efficiency measures
3) Enter Corporate financial information (including loans) on the
ESCO
4) Enter Corporate financial information on the Customer
5) Enter data in designated (yellow) cells: financial, operating
costs, soft costs, savings, etc. Explanations of or instructions for
various cells shown in comment boxes
6) Review characteristics of SPE-ESCO in the "Input Summary"
Worksheet
7) Review outputs in the "Output Summary" Worksheet and for
more detail see "ESCO Output", "Customer Output" and the
"Lender Output" Worksheet
8) Repeat data entry process to examine impact on overall returns
to the SPE-ESCO and Customer
9) Run Sensitivity Analysis (if necessary) in "Sensitivity"
worksheet

Tables are color coded to indicate level of analysis:

Energy Savings Activity (project Level)
SPE Company (corporate level)
Customer Company (corporate level)
ESCO Company (corporate level)
 Relationships between entities involved in ESCO Project

Equity
ESCO
Funding
Equity Project Equity
Project
Dividends Design Fees Dividends

Debt Investment
Bank
Payments
SPE Payments
Customer

Contingent Guarantee
Payment Fee
Deposit
Escrow
Guarantee
Account
 Measures Equipment Costs Electric Savings Fuel Savings Maintenance Savings Interim Savings Equip. Life
1                      350,000  200,000 5,000 5,000 5,000 10

Step 3, 4 & 5: Enter financial Information about Project, SPE, ESCO, and the Customer
PROJECT FINANCIAL INFORMATION SPE CORPORATE FINANCIAL DATA CUSTOMER CORPORATE FINANCIAL DATA ESCO CORPORATE FINANCIAL DATA
Hard Costs Absolute Value Percentage (Pre-project) (Pre-project) (Pre-project)
Contingency on Equipment 1.0% Income Statement Income Statement Income Statement
Duties and Taxes on Equipment 1.0% Income 5,000,000 Income Income
Soft Costs Other Expenses 2,000,000 Other Expenses Other Expenses
Technical Audit Cost 5,000 Interest Expenses 500,000 Interest Expenses Interest Expenses
Engineering 5.0% Depreciation Expense 500,000 Depreciation Expense Depreciation Expense
Construction Mgmt. Fee 5.0% Energy Expenses 500,000 Energy Expenses Energy Expenses

Overhead Balance Sheet Balance Sheet Balance Sheet

Other 5,000 Long-term or Fixed Assets 10,000,000 Long-term or Fixed Assets Long-term or Fixed Assets
Marketing Fee 1.0% Non-cash Current Assets 1,000,000 Non-cash Current Assets Non-cash Current Assets
Project Management. Fee 1.0% Long-term Liabilities 5,000,000 Long-term Liabilities Long-term Liabilities
Legal 5,000 Current Liabilities 2,000,000 Current Liabilities Current Liabilities
Profit Target for SPE 10.0% Cash Flow Cash Flow Cash Flow
Duties and Taxes on Services 1.0% Other Operating Activities 5,000,000 Other Operating Activities Other Operating Activities
Contract Total Investing Activities 2,000,000 Total Investing Activities Total Investing Activities
Contract period (yrs) 5 Total Financing Activities Total Financing Activities Total Financing Activities
Savings Split to SPE 50.0% Cash increases in debt 500,000 Cash from increases in debt - Cash increases in debt
SPE Interim Savings Split 25.0% Debt Payments 1,000,000 Debt Payments Debt Payments
Share Maintenance Savings ✘ Share
1 Cash balance (beg.of period) 3,000,000 Cash balance (beg.of period) Cash balance (beg.of period)
Share Energy Price Increases
Share
0 Production Data
Electric Energy Cost Escalator 1.0% SPE Financing Assumptions Units Produced ESCO Financing Assumptions
Fuel Energy Cost Escalator 1.0% Debt Ratio Unit Price Annual O&M Cost to ESCO
Maintenance Cost Escalator 1.0% Loan Interest Rate Production Increases Annual M&V Cost to ESCO
Operating Costs Loan Term (yrs)
Annual Inflation 2.5% Loan Grace Period (yrs) Percentage of SPE Equity Ownership
Income Tax Rate 34.0% Loan Amortization Level
2 Principal Profit Target for Consulting & Design Services

Depreciation Period 5 Discount Rate

Depreciation Schedule
Straight
1 Line Cost of Loan Guarantee

Equipment Salvage Value -

Construction Loan
Construction Loan
Annual O&M Charges to SPE/Project Construction Interest
Annual O&M Charges to Customer Construction Period (mos.)
Annual M&V Costs to SPE/Project
Annual M&V Costs for Customer

Legend
Energy Savings Activity (project Level)
SPE Company (corporate level)

Customer Company (corporate level)

ESCO Company (corporate level)
 PROJECT SUMMARY AND FINANCIAL INFORMATION

Financial Assumptions Equipment Costs Savings and Contract Assumptions

Equipment Costs 350,000 Contract period (yrs) #NAME?
Project Cost #NAME? Duties and taxes 3,500 Annual Projected Savings 210,000
Debt Ratio #NAME? Contingency 3,500 1% Savings Split to SPE #NAME?
SPE Loan Amount #NAME? Subtotal Hard Costs 357,000 Savings Split to Client #NAME?
SPE Loan Interest Rate #NAME? Soft Costs, Overhead & Profit SPE Interim Savings Split 25%
SPE Loan Term (yrs) #NAME? Soft Costs Share Maintenance Savings ✘
#NAME?Share
SPE Loan Grace Period (yrs) #NAME? Technical Audit Cost 5,000 1.4%

SPE Loan Amortization Level Principal

2 Engineering 17,500 5.0% Net Savings to Company #NAME?
Annual Debt Service #NAME? Construction Mgmt. Fee 17,500 5.0% Energy Escalators for Savings

Debt Coverage Ratio #NAME? Subtotal Soft Costs 40,000 11.2% Electric Energy Cost Escalator 1.0%
Interest During Construction #NAME? Overhead Fuel Energy Cost Escalator 1.0%
SPE Equity #NAME? Other 5,000 1.4% Maintenance Cost Escalator 1.0%
SPE Discount Rate 0.0% Marketing Fee 3,970 0
Cost of Loan Guarantee 0.0% Project Management. Fee 3,500 0 SPE Operating Costs

Construction Loan Construction

0 Legal Loan 5,000 1.4% Annual Inflation #NAME?
SPE Construction Interest #NAME? Interest During Construction #NAME? #NAME? Income Tax Rate 34.0%
SPE Construction Period (months) #NAME? Subtotal Overhead #NAME? #NAME? Duties and Taxes on Equipment 1.0%
Subtotal Hard, Soft and Overhead #NAME? Duties and Taxes on Services 1.0%
ESCO Operating Costs Profit Taxable Services #NAME?
Annual O&M Cost to ESCO 0.00% Profit Target for SPE #NAME? #NAME? Depreciation 5 yrs
Annual M&V Cost to ESCO 0.00% Duties and taxes #NAME? Depreciation Schedule
Straight Line
1

Total Project Cost #NAME? Equipment Salvage Value -

Percentage of SPE Equity Ownership 0.00% O&M Charges to ESCO - 0.0%
Profit Target for Consulting & Design Services 0.00% Legend O&M Charges to Facility - 0.0%
Energy Savings Activity (project Level) M&V Costs for ESCO - 0.0%
SPE Company (corporate level) Annual M&V Costs for Customer - 0.0%
Customer Company (corporate level) M&V Program Term #NAME?
ESCO Company (corporate level) This section refers to the corporate
entities BEFORE they take on the
ESCO project investment. This will
reflect each corporations' 'other'
business activities.
 This section refers to the corporate
entities BEFORE they take on the
ESCO project investment. This will
CORPORATE SUMMARY INFORMATION (Before Project Implementation) reflect each corporations' 'other'
business activities.
SPE Corporate Financial Data (Pre-project) Customer Corporate Financial Data (Pre-project) ESCO CORPORATE FINANCIAL DATA
Income Statement Income Statement (Pre-project)
Income 5,000,000 Income #NAME? Income Statement
Other Expenses 2,000,000 Other Expenses #NAME? Income -
Interest Expenses 500,000 Interest Expenses #NAME? Other Expenses -
Depreciation Expense 500,000 Depreciation Expense - Interest Expenses -
Energy Expenses 500,000 Energy Expenses #NAME? Depreciation Expense -
Balance Sheet Balance Sheet Energy Expenses -
Long-term or Fixed Assets 10,000,000 Long-term or Fixed Assets #NAME? Balance Sheet
Non-cash Current Assets 1,000,000 Non-cash Current Assets 5,000 Long-term or Fixed Assets -
Long-term Liabilities 5,000,000 Long-term Liabilities #NAME? Non-cash Current Assets -
Current Liabilities 2,000,000 Current Liabilities 5,000 Long-term Liabilities -
Cash Flow Cash Flow Current Liabilities -
Other Operating Activities 5,000,000 Other Operating Activities #NAME? Cash Flow
Total Investing Activities 2,000,000 Total Investing Activities #NAME? Other Operating Activities -
Total Financing Activities Total Financing Activities Total Investing Activities -
Cash increases in debt 500,000 Cash from increases in debt 5,000 Total Financing Activities -
Debt Payments 1,000,000 Debt Payments #NAME? Cash increases in debt -
Cash balance (beg.of period) 3,000,000 Cash balance (beg.of period) #NAME? Debt Payments -
Production Data Cash balance (beg.of period) -
Units Produced -
Unit Price -
0%
Energy Cost per Unit #NAME?

FINANCIAL RETURN SUMMARY INFORMATION

SPE Return Customer Return ESCO Return

SPE Annual Payment #NAME? Total Project Savings 210,000 Fees for Project Design (Soft Cost) #NAME?
SPE Simple Payback (on shared amount) #NAME? Net Annual Savings to Customer #NAME? Sale of Equipment (Hard Cost) 357,000
SPE Discounted payback (on shared amount) #N/A Payment (Net Payment to ESCO) - -
SPE Cumulative Net Cash Flow #NAME? Value of Increased Output - ESCO NPV #NAME?
SPE IRR #NAME? Present Value of Customer Savings #NAME? ESCO Cumulative Net Cash Flow #VALUE!
Total Fees Paid to Loan Guarantor #NAME? Term (Contract Period) #NAME? ESCO IRR #VALUE!
NPV for ESCO w/Performance Contract #NAME? Principal (Turnkey Cost) #NAME? Cash Profit on Lump Sum Contract #NAME?
Cash Profit on Lump Sum Contract #NAME? Effective Interest Rate for Customer #NAME? ESCO Project Cost + NPV of Net Cash Flow #NAME?

SPE Project Cost + NPV of Net Cash Flow #NAME?

Lump Sum Price to Customer #NAME?

Project Return
Project Cost (Amount Financed) #NAME?
Project Simple Payback (hard costs only) 1.7
Project IRR (hard costs only) 59.4%
Project Simple Payback (hard and soft costs) #NAME?
Project IRR (hard and soft costs) #NAME?
 SPE Results Summary
Legend
Project Cost (Amount Financed) #NAME? Energy Savings Activity (project Level)
Project Simple Payback (hard costs only) 1.7 yrs SPE Company (corporate level)
Project IRR (hard costs only) 59.4% Customer Company (corporate level)
Project Simple Payback (hard and soft costs) #NAME? yrs ESCO Company (corporate level)
Project IRR (hard and soft costs) #NAME?
SPE Annual Payment #NAME?
SPE Simple Payback (on shared amount) #NAME? yrs
SPE Discounted payback (on shared amount) #N/A yrs
SPE Cumulative Net Cash Flow #NAME?
SPE IRR #NAME?
Total Fees Paid to Loan Guarantor #NAME?
NPV for ESCO w/Performance Contract #NAME?
Cash Profit on Lump Sum Contract #NAME?

SPE Project Cost + NPV of Net Cash Flow #NAME?

Lump Sum Price to Customer #NAME?

SPE Financial Ratios

S Pre-Project Construction Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
P Current Ratio 7.00 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
E Debt/asset ratio 0.29 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt/Equity Ratio 0.41 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
F
i Debt Coverage Ratio (13.98) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n Operating Profit Margin 40.0% 40.0% #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
a Net Profit Margin 19.8% #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n
c Long-term Debt Level 5,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
e
PERFORMANCE CONTRACT (SPE FINANCES) Construction Operations
Year 0 1 2 3 4 5 6 7 8 9 10
SPE Project Income Statement
Revenues
Energy Savings Payment from Customer - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other - - - - - - - - - - -
Total Revenues - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Expenses
Project Design (Soft Cost) #NAME?
Equipment (Hard Cost)
O&M Charges #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Monitoring Charges #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest on Debt #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation - #NAME? #NAME? #NAME? #NAME? #NAME? - - - - -
Cost of Guarantee #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other - - - - - - - - - - -
Total Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Net Pre-tax Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Taxable Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Income Tax #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net After-tax Income (loss) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

SPE Project Cash Flow Statement

Cash Flow from Operations
Net Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation - #NAME? #NAME? #NAME? #NAME? #NAME? - - - - -
Other - - - - - - - - - - -
Subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow from Investing
Project Investments #NAME? #NAME?
Other - - - - - - - - - - -
Subtotal #NAME? #NAME? - - - - - - - - -
Cash Flow from Financing
Proceeds from Construction Loans #NAME? #NAME?
Proceeds from Long-term Loans #NAME? #NAME?
Construction Loan Repayment -
Long Term Loan Payments (principal) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Subtotal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

SPE Returns on Cash Flow Investment

Net Cash Flow #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cumulative ESCO Cash Flow #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
IRR on ESCO's Net Cash Flow #NAME?
NPV of ESCO Net Cash Flow @ discount rate 0% #NAME?
SPE CORPORATE FINANCIAL Pre-Project Construction Operations
STATEMENTS 1 2 3 4 5 6 7 8 9 10
Income Statement Data
Income 5,000,000 5,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Expenses 2,000,000 2,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation 500,000 500,000 #NAME? #NAME? #NAME? #NAME? #NAME? 500,000 500,000 500,000 500,000 500,000
Energy Expenses 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000 500,000
Income (EBIT) 2,000,000 2,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest Expenses 500,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Pre-Tax Income 1,500,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
tax 510,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net income 990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Balance Sheet Data

Total Assets 23,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Long-term or Fixed 10,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash (current) 12,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Current 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000 1,000,000
Total Liabilities 7,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Long-term 5,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Current 2,000,000 #NAME? #NAME? 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
Total Equity 16,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Liabilities and Equity 23,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Cash Flow Data

Total Operating Activities 6,490,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Income 990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation (project only) 500,000 500,000 #NAME? #NAME? #NAME? #NAME? #NAME? 500,000 500,000 500,000 500,000 500,000
Other 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000
Total Investing Activities 2,000,000 #NAME? #NAME? - - - - - - - - -
Total Financing Activities 1,500,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Provided by increases in debt 500,000 #NAME? #NAME? - - - - - - - - -
Debt Payments 1,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Cash Flow 9,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash from previous years 3,000,000 12,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash at end of period 12,990,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total

#NAME?
-
#NAME?

#NAME?

#NAME?
#NAME?
#NAME?
#NAME?
#NAME?
-
#NAME?

#NAME?
#NAME?
#NAME?
#NAME?

#NAME?
#NAME?
-
#NAME?

#NAME?
-
#NAME?

#NAME?
#NAME?
-
#NAME?
#NAME?

#NAME?
 ESCO Results Summary
Legend
Project Cost (Amount Financed) #NAME? Energy Savings Activity (project Level)
Project Simple Payback (hard costs only) 1.7 yrs SPE Company (corporate level)
Project IRR (hard costs only) 59.4% Customer Company (corporate level)
Project Simple Payback (hard and soft costs) #NAME? yrs ESCO Company (corporate level)
Project IRR (hard and soft costs) #NAME?
Fees for Project Design (Soft Cost) #NAME?
Sale of Equipment (Hard Cost) 357,000

ESCO NPV #NAME?

ESCO Cumulative Net Cash Flow #VALUE!
ESCO IRR #VALUE!
Cash Profit on Lump Sum Contract #NAME?
ESCO Project Cost + NPV of Net Cash Flow #NAME?

ESCO Financial Ratios

Pre-Project Construction Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
S
C Current Ratio - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O Debt/asset ratio #DIV/0! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt/Equity Ratio -1.00 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
F Debt Coverage Ratio #DIV/0! #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
i
Operating Profit Margin #DIV/0! #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n
a Net Profit Margin #DIV/0! #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n Long-term Debt Level 5,000,000 #NAME? 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000
c
PERFORMANCE CONTRACT (ESCO FINANCES) Construction Operations
Year 0 1 2 3 4 5 6 7 8 9 10 Total
ESCO Project Income Statement
Revenues (Project Design and Implementation Fees)
Project Design (Soft Cost) #NAME? #NAME?
Equipment (Hard Cost) 357,000
O&M Charges - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Monitoring Charges #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Dividends from SPE #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other - - - - - - - - - - - -
Total Revenues #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Expenses
O&M Charges - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Monitoring Costs - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Project Design (Soft Cost) #NAME?
Equipment (Hard Cost) 357,000
Other - - - - - - - - - - - -
Total Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Net Pre-tax Income #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Taxable Income #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Income Tax #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net After-tax Income (loss) #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!

ESCO Project Cash Flow Statement

Cash Flow from Operations
Net Income #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Other - - - - - - - - - - - -
Subtotal #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Cash Flow from Investing
Project Investments #NAME? #NAME?
Other - - - - - - - - - - - -
Subtotal - #NAME? - - - - - - - - - #NAME?

ESCO Returns on Cash Flow Investment

Net Cash Flow #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #VALUE!
Cumulative ESCO Cash Flow #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
IRR on ESCO's Net Cash Flow #VALUE!
NPV of ESCO Net Cash Flow @ discount rate 0% #NAME?
ESCO CORPORATE FINANCIAL Pre-Project Construction Operations
STATEMENTS 1 2 3 4 5 6 7 8 9 10
Income Statement Data
Income - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Expenses - - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation - - - - - - - - - - - -
Energy Expenses - - - - - - - - - - - -
Income (EBIT) - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest Expenses - #NAME? - - - - - - - - - -
Net Pre-Tax Income - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
tax - #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE! #VALUE!
Net income - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Balance Sheet Data

Total Assets - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Long-term or Fixed - #NAME? - - - - - - - - - -
Cash (current) - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Current - - - - - - - - - - - -
Total Liabilities 7,000,000 #NAME? 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000 7,000,000
Long-term 5,000,000 #NAME? 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000 5,000,000
Current 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000 2,000,000
Total Equity (7,000,000) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Liabilities and Equity - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Cash Flow Data

Total Operating Activities - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Income - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation (project only) - - - - - - - - - - - -
Other - - - - - - - - - - - -
Total Investing Activities - - #NAME? - - - - - - - - -
Total Financing Activities - - - - - - - - - - - -
Cash Provided by increases in debt - - - - - - - - - - - -
Debt Payments - - - - - - - - - - - -
Net Cash Flow - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash from previous years - - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash at end of period - #VALUE! #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
 Customer Results Summary
Costs Legend
Hard Costs 357,000 Energy Savings Activity (project Level)
Soft costs 40,000 SPE Company (corporate level)
Overhead #NAME? Customer Company (corporate level)
SubTotal Hard, Soft & Overhead Costs #NAME? ESCO Company (corporate level)
ESCO's Profit #NAME? #NAME?
Cost to Customer (pre-tax) #NAME?
Duties and taxes #NAME? 1.0%
Total Turnkey Cost to Customer #NAME?

Total Project Savings 210,000

Net Annual Savings to Customer #NAME?
Payment (Net Payment to ESCO) -
Value of Increased Output -
Present Value of Customer Savings #NAME?
Term (Contract Period) #NAME? yrs
With Prod.
Principal (Turnkey Cost) #NAME? Increase
Effective Interest Rate for Customer #NAME? #NAME?

Customer Financial Ratios

Pre-Project Construction Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
S
C Current Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O Debt/asset ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt/Equity Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
F Debt Coverage Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
i
Operating Profit Margin #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n
a Net Profit Margin #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n Long-term Debt Level #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
c Energy Savings to Customer 0 - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
e
PROJECT FINANCIAL STATEMENTS (PERFORMANCE C Construction Operations
Year 0 1 2 3 4 5 6 7 8 9 10 Total
Customer Project Income Statement
Revenues
Customer Savings 5,000 210,000 212,100 214,221 216,363 218,527 220,712 222,919 225,148 227,400 229,674 2,202,065
Other - - - - - - - - - - - -
Total Revenues 5,000 210,000 212,100 214,221 216,363 218,527 220,712 222,919 225,148 227,400 229,674 2,202,065
Expenses
O&M Charges - - - - - - - - - - - -
Payments to SPE - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest on Debt - - - - - - - - - - - -
Depreciation - - - - - - - - - - - -
Other - - - - - - - - - - - -
Total Expenses - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Net Pre-tax Income 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Taxable Income 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Income Tax - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net After-tax Income (loss) 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Customer Project Cash Flow Statement

Cash Flow from Operations
Net Income 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation - - - - - - - - - - - -
Other - - - - - - - - - - - -
Subtotal 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Flow from Investing
Project Investments - - - - - - - - - - - -
Other - - - - - - - - - - - -
Subtotal - - - - - - - - - - - -
Cash Flow from Financing
Proceeds from Construction Loans - - - - - - - - - - - -
Proceeds from Long-term Loans - - - - - - - - - - - -
Construction Loan Repayment - - - - - - - - - - -
Long Term Loan Payments (principal) - - - - - - - - - - - -
Subtotal - - - - - - - - - - - -

Customer Returns on Cash Flow Investment

Net Cash Flow 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cumulative Customer Cash Flow 5,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
IRR on Customer's Net Cash Flow #NAME?
PV of Customer's Net Cash Flow @ discount rate 0% #NAME?
Customer CORPORATE FINANCIAL Pre-Project Construction Operations
STATEMENTS 1 2 3 4 5 6 7 8 9 10
Income Statement Data
Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation - - - - - - - - - - - -
Energy Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Income (EBIT) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest Expenses #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Pre-Tax Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
tax #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Balance Sheet Data

Total Assets #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Long-term or Fixed #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash (current) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Other Current 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Total Liabilities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Long-term #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Current 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000 5,000
Total Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Liabilities and Equity #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Cash Flow Data

Total Operating Activities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Income #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Depreciation (project only) - - - - - - - - - - - -
Other #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Investing Activities #NAME? - - - - - - - - - - -
Total Financing Activities #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash Provided by increases in debt 5,000 - - - - - - - - - - -
Debt Payments #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Net Cash Flow #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash from previous years #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Cash at end of period #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
 SPE Return
SPE Annual Payment #NAME?
SPE Simple Payback (on shared amount) #NAME? Legend
SPE Discounted payback (on shared amount) #N/A Energy Savings Activity (project Level)
SPE Cumulative Net Cash Flow #NAME? SPE Company (corporate level)
SPE IRR #NAME? Customer Company (corporate level)
Total Fees Paid to Loan Guarantor #NAME? ESCO Company (corporate level)
NPV for ESCO w/Performance Contract #NAME?
Cash Profit on Lump Sum Contract #NAME?

SPE Project Cost + NPV of Net Cash Flow #NAME?

Lump Sum Price to Customer #NAME?
Customer Return
Total Project Savings 210,000
Net Annual Savings to Customer #NAME?
Payment (Net Payment to ESCO) -
Value of Increased Output -
Present Value of Customer Savings #NAME?
Term (Contract Period) #NAME?
Principal (Turnkey Cost) #NAME?
Effective Interest Rate for Customer #NAME?

Customer Financial Ratios

Pre-Project Construction Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
t
o Current Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
m Debt/asset ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
e Debt/Equity Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
r Debt Coverage Ratio #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Operating Profit Margin #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
F
i Net Profit Margin #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n Long-term Debt Level #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
a Energy Savings to Customer - - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n

ESCO Return
Fees for Project Design (Soft Cost) #NAME?
Sale of Equipment (Hard Cost) 357,000

ESCO NPV #NAME?

ESCO Cumulative Net Cash Flow #VALUE!
ESCO IRR #VALUE!
Cash Profit on Lump Sum Contract #NAME?
ESCO Project Cost + NPV of Net Cash Flow #NAME?

Project Return
Project Cost (Amount Financed) #NAME?
Project Simple Payback (hard costs only) 1.7
Project IRR (hard costs only) 59.4%
Project Simple Payback (hard and soft costs) #NAME?
Project IRR (hard and soft costs) #NAME?

ESCO Financial Ratios

Pre-Project Construction Yr 1 Yr 2 Yr 3 Yr 4 Yr 5 Yr 6 Yr 7 Yr 8 Yr 9 Yr 10
S
C Current Ratio 7.00 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O Debt/asset ratio 0.29 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Debt/Equity Ratio 0.41 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
F Debt Coverage Ratio (13.98) #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
i
n Operating Profit Margin 0.40 0.40 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n
a Net Profit Margin 0.20 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
n Long-term Debt Level 5,000,000 #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
c
 INPUT FOR ENERGY EFFICIENCY MEASURES

Electric Maintenanc Simple Equip.

EEMs Equipment Costs VAT Total Cost Savings Fuel Savings e Savings Total Savings Payback IRR Life
1                                         1                       350,000  3,500 353,500 200,000 5,000 5,000 210,000 1.7 59.4% 10
2                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
3                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
4                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
5                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
6                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
7                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
8                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
9                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
10                                         ­                                  ­  - - - - - - #DIV/0! #DIV/0! 0
Hcost Total/Average 350,000 3,500 353,500 200,000 5,000 5,000 210,000 1.7 59.4%

Combined Hard and Soft costs

Payback on measures including all costs #NAME?
IRR on measures including all costs #NAME?
NPV on measures #NAME?
Long-Term Debt Profile
ESCO Loan

Level Payment Amount -

level Principal Amount #NAME?
Rate #NAME?
Term #NAME?
Grace Period #NAME?
Effective Principal Term #NAME?
Amortization Schedule Level Principal
Construction Loan NO

Construction Operations
Operations #NAME?
Loan period 1 2 3 4 5 6 7 8 9 10 11 Total

ESCO Loan
Disbursement #NAME? #NAME?
Level Payment
Principal Balance - - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Payment #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Level Principal
Principal Balance #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Interest #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Principal Payment #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Payment #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Principal level #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Loan 1 Debt Service #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
COST WORKSHEET (NO INPUTS REQUIRED)
% Hard
% Margin
Costs Price Escalators
Equipment Costs 350,000
Duties and taxes 3,500
Contingency 1.0% 3,500 #NAME? Electric 1.0%
Total Hard Costs plus contingency plus VAT 357,000 #NAME? Fuel 1.0%
Soft Costs Maintenance 1.0%
ESCO Const Management 5.0% 17,500 #NAME?
ESCO Technical Audit 1.4% 5,000 #NAME? Savings Split
ESCO Engineering 5.0% 17,500 #NAME?
Subtotal Soft Costs 11.4% 40,000 #NAME? Projected Savings 205,000
Other 1.4% 5,000 #NAME? ESCO Savings #NAME?
Marketing Fee 1.0% 3,970 #NAME? Client Savings #NAME?
ESCO PM Fee 1.0% 3,500 #NAME? ESCO Interim Savings 25.0%
Legal 1.4% 5,000 #NAME?
Interest During Construction #NAME? #NAME? #NAME?
Total Soft Costs (Overhead) #NAME? #NAME? #NAME?

Total Hard & Soft Costs #NAME? #NAME? #NAME?

Duties and taxes #NAME?
Total Project Costs #NAME? #NAME?
 SAVINGS CALCULATIONS (NO
INPUTS REQUIRED)

Year 0 1 2 3 4 5 6 7 8 9 10 Total

Projected Savings
Electric Energy 200,000 202,000 204,020 206,060 208,121 210,202 212,304 214,427 216,571 218,737 2,092,443
Fuel Energy 5,000 5,050 5,101 5,152 5,203 5,255 5,308 5,361 5,414 5,468 52,311
O&M 5,000 5,050 5,101 5,152 5,203 5,255 5,308 5,361 5,414 5,468 52,311
Total Projected Savings 5,000 210,000 212,100 214,221 216,363 218,527 220,712 222,919 225,148 227,400 229,674 2,202,065

Projected Savings to SPE

Electric Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fuel Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Projected Savings to SPE - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

SPE Payment

Electric Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fuel Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Payment to SPE - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?

Net Savings to Customer (Performance Contract)

Electric Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Fuel Energy - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
O&M - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?
Total Net Savings to Customer - #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME? #NAME?