diff --git a/.gitignore b/.gitignore index 9c696f0e..0a1fef10 100644 --- a/.gitignore +++ b/.gitignore @@ -25,6 +25,7 @@ Geothermal_district_heating_system_with_peaking_boilers.png # TODO may want to add this to source regenerate-schemas.sh +requirements_2025-08-11.txt # C extensions *.so diff --git a/docs/Fervo_Project_Cape-4.md b/docs/Fervo_Project_Cape-4.md index e5881ab6..53a27b6f 100644 --- a/docs/Fervo_Project_Cape-4.md +++ b/docs/Fervo_Project_Cape-4.md @@ -8,7 +8,7 @@ Financial results are calculated using the [SAM Single Owner PPA Economic Model](https://softwareengineerprogrammer.github.io/GEOPHIRES/SAM-Economic-Models.html#sam-single-owner-ppa). -Key case study results include LCOE = $75.5/MWh and CAPEX = $4900/kW. +Key case study results include LCOE = $81.1/MWh and CAPEX = $5000/kW. [Click here](https://gtp.scientificwebservices.com/geophires/?geophires-example-id=Fervo_Project_Cape-4) to interactively explore the case study in the GEOPHIRES web interface. @@ -41,20 +41,20 @@ in source code for the full set of inputs. ### Economic Parameters -| Parameter | Input Value(s) | Source | -|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| -| Economic Model | SAM Single Owner PPA | The SAM Single Owner PPA economic model is used to calculate financial results including LCOE, NPV, IRR, and pro-forma cash flow analysis. See [GEOPHIRES documentation of SAM Economic Models](https://softwareengineerprogrammer.github.io/GEOPHIRES/SAM-Economic-Models.html) for details on how System Advisor Model financial models are integrated into GEOPHIRES. | -| Inflation Rate | 2.3% | US inflation rate as of April 2025 | -| PPA Price | Starting at 9.5 cents/kWh, escalating to 10 cents/kWh by project year 11 | Upper end of ranges given in 2024 NREL ATB (NREL, 2024). Both PPAs 'firm for 10 years at less than $100/MWh' estimate given in a podcast. | -| Well Drilling Cost Correlation & Adjustment Factor | Vertical large baseline correlation + adjustment factor = 0.8 to align with Fervo claimed drilling costs of <$4M/well | Akindipe & Witter, 2025; Latimer, 2025. | -| Reservoir Stimulation Capital Cost Adjustment Factor | 2.66 | Estimated cost of ~$2M per well. Typical range for first-of-kind projects may be higher. | -| Capital Cost for Power Plant for Electricity Generation | $1900/kW | US DOE, 2021. | -| Discount Rate | 12% | Typical discount rates for high-risk projects may be 12–15% | -| Inflated Bond Interest Rate | 5.6% | Typical debt annual interest rate | -| Fraction of Investment in Bonds (percent debt vs. equity) | 60% | Approximate remaining percentage of CAPEX with $1 billion sponsor equity per Matson, 2024. Note that this source says that Fervo ultimately wants to target "15% sponsor equity, 15% bridge loan, and 70% construction to term loans", but this case study does not attempt to model that capital structure. | -| Exploration Capital Cost | $30M | Estimate significantly higher exploration costs than default correlation in consideration of potential risks associated with second/third/fourth-of-a-kind EGS projects | -| Investment Tax Credit Rate (ITC) | 30% | Same as 400 MWe case study (Fervo_Project_Cape-3) | -| Inflation Rate During Construction | 15% | Conservatively models the equivalent of a higher annual inflation rate (4.769%) over a 3-year period as a hedge against construction delays and short-term inflation volatility. | +| Parameter | Input Value(s) | Source | +|-----------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------| +| Economic Model | SAM Single Owner PPA | The SAM Single Owner PPA economic model is used to calculate financial results including LCOE, NPV, IRR, and pro-forma cash flow analysis. See [GEOPHIRES documentation of SAM Economic Models](https://softwareengineerprogrammer.github.io/GEOPHIRES/SAM-Economic-Models.html) for details on how System Advisor Model financial models are integrated into GEOPHIRES. | +| Inflation Rate | 2.3% | US inflation rate as of April 2025 | +| PPA Price | Starting at 9.5 cents/kWh, escalating to 10 cents/kWh by project year 11 | Upper end of ranges given in 2024 NREL ATB (NREL, 2024). Both PPAs 'firm for 10 years at less than $100/MWh' estimate given in a podcast. | +| Well Drilling Cost Correlation & Adjustment Factor | Vertical large baseline correlation + adjustment factor = 0.8 to align with Fervo claimed drilling costs of <$4M/well | Akindipe & Witter, 2025; Latimer, 2025. | +| Reservoir Stimulation Capital Cost per Well | $4.6M (all-in cost, including 15% contingency) | The all-in cost is based on a ~$4.0M baseline stimulation cost, calibrated from per-stage costs of high-intensity U.S. shale wells (Baytex Energy, 2024; Quantum Proppant Technologies, 2020), which are the closest technological analogue for multi-stage EGS (Gradl, 2018). This baseline assumes standard sand proppant. The 15% contingency (~$0.6M) accounts for the necessary upgrade to ceramic proppant, which is required to resist mechanical crushing and geochemical degradation (diagenesis) over a 30-year well life at 200°C (Ko et al., 2023; Shiozawa & McClure, 2014). | +| Capital Cost for Power Plant for Electricity Generation | $1900/kW | US DOE, 2021. | +| Discount Rate | 12% | Typical discount rates for high-risk projects may be 12–15% | +| Inflated Bond Interest Rate | 5.6% | Typical debt annual interest rate | +| Fraction of Investment in Bonds (percent debt vs. equity) | 60% | Approximate remaining percentage of CAPEX with $1 billion sponsor equity per Matson, 2024. Note that this source says that Fervo ultimately wants to target "15% sponsor equity, 15% bridge loan, and 70% construction to term loans", but this case study does not attempt to model that capital structure. | +| Exploration Capital Cost | $30M | Estimate significantly higher exploration costs than default correlation in consideration of potential risks associated with second/third/fourth-of-a-kind EGS projects | +| Investment Tax Credit Rate (ITC) | 30% | Same as 400 MWe case study (Fervo_Project_Cape-3) | +| Construction Years | 1 | Calibrated to a 2-6 year construction time for a 1 GW plant (Yusifov & Enriquez, 2025) | ### Technical & Engineering Parameters @@ -81,14 +81,15 @@ in source code for the complete results. ### Economic Results -| Metric | Result Value | Reference Value(s) | Reference Source | -|------------------------------------|--------------------------------------------------------|------------------------------------|--------------------------------------------------| -| LCOE | $75.5/MWh | $80/MWh | Horne et al, 2025 | -| Project capital costs: Total CAPEX | $2.64B | | | -| Project capital costs: $/kW | $4900/kW (based on maximum net electricity generation) | $5000/kW; $4500/kW; $3000–$6000/kW | McClure, 2024; Horne et al, 2025; Latimer, 2025. | -| Well Drilling and Completion Cost | $3.96M/well (including 5% indirect costs) | $<4M/well | Latimer, 2025. | -| WACC | 8.3% | 8.3% | Matson, 2024. | -| After-tax IRR | 31.5% | 15–25% | Typical levered returns for energy projects | +| Metric | Result Value | Reference Value(s) | Reference Source | +|------------------------------------|--------------------------------------------------------|----------------------------------------------------------------|--------------------------------------------------| +| LCOE | $81.1/MWh | $80/MWh | Horne et al, 2025 | +| Project capital costs: Total CAPEX | $2.66B | | | +| Project capital costs: $/kW | $5000/kW (based on maximum net electricity generation) | $5000/kW; $4500/kW; $3000–$6000/kW | McClure, 2024; Horne et al, 2025; Latimer, 2025. | +| Well Drilling and Completion Costs | $3.96M/well; $467.75M total | $<4M/well | Latimer, 2025. | +| Stimulation Costs | $4.6M/well; $542.8M total | $4.65M/well (based on 46%:54% drilling:stimulation cost ratio) | (Yusifov & Enriquez, 2025) | +| WACC | 8.3% | 8.3% | Matson, 2024. | +| After-tax IRR | 27.55% | 15–25% | Typical levered returns for energy projects | ### Technical & Engineering Results @@ -115,6 +116,9 @@ tools. Akindipe, D. and Witter. E. (2025). "2025 Geothermal Drilling Cost Curves Update". https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2025/Akindipe.pdf?t=1740084555 +Baytex Energy. (2024). Eagle Ford Presentation. +https://www.baytexenergy.com/content/uploads/2024/04/24-04-Baytex-Eagle-Ford-Presentation.pdf + Beckers, K., McCabe, K. (2019) GEOPHIRES v2.0: updated geothermal techno-economic simulation tool. Geotherm Energy 7,5. https://doi.org/10.1186/s40517-019-0119-6 @@ -133,6 +137,10 @@ Fervo Energy. (2024, September 10). Fervo Energy’s Record-Breaking Production Enhanced Geothermal. https://www.businesswire.com/news/home/20240910997008/en/Fervo-Energys-Record-Breaking-Production-Results-Showcase-Rapid-Scale-Up-of-Enhanced-Geothermal +Gradl, C. (2018). SReview of Recent Unconventional Completion Innovations and their Applicability to EGS Wells. Stanford +Geothermal Workshop. +https://pangea.stanford.edu/ERE/pdf/IGAstandard/SGW/2018/Gradl.pdf + Horne, R., Genter, A., McClure, M. et al. (2025) Enhanced geothermal systems for clean firm energy generation. Nat. Rev. Clean Technol. 1, 148–160. https://doi.org/10.1038/s44359-024-00019-9 @@ -140,6 +148,10 @@ Jacobs, Trent. (2024, September 16). Fervo and FORGE Report Breakthrough Test R Enhanced Geothermal. https://jpt.spe.org/fervo-and-forge-report-breakthrough-test-results-signaling-more-progress-for-enhanced-geothermal +Ko, S., Ghassemi, A., & Uddenberg, M. (2023). Selection and Testing of Proppants for EGS. +Proceedings, 48th Workshop on Geothermal Reservoir Engineering, Stanford University, Stanford, California. +https://pangea.stanford.edu/ERE/db/GeoConf/papers/SGW/2023/Ko.pdf + Latimer, T. (2025, February 12). Catching up with enhanced geothermal (D. Roberts, Interviewer). https://www.volts.wtf/p/catching-up-with-enhanced-geothermal @@ -160,6 +172,12 @@ Rapid Cost Reductions and Performance Improvements. https://doi.org/10.31223/X5V Norbeck J., Latimer T. (2023). Commercial-Scale Demonstration of a First-of-a-Kind Enhanced Geothermal System. https://doi.org/10.31223/X52X0B +Quantum Proppant Technologies. (2020). Well Completion Technology. World +Oil. https://quantumprot.com/uploads/images/2b8583e8ce8038681a19d5ad1314e204.pdf + +Shiozawa, S., & McClure, M. (2014). EGS Designs with Horizontal Wells, Multiple Stages, and Proppant. ResFrac. +https://www.resfrac.com/wp-content/uploads/2024/07/Shiozawa.pdf + US DOE. (2021). Combined Heat and Power Technology Fact Sheet Series: Waste Heat to Power. https://betterbuildingssolutioncenter.energy.gov/sites/default/files/attachments/Waste_Heat_to_Power_Fact_Sheet.pdf diff --git a/setup.py b/setup.py index 9d4710c5..1a2953ed 100755 --- a/setup.py +++ b/setup.py @@ -77,7 +77,9 @@ def read(*names, **kwargs): 'h5py', 'scipy', 'iapws', - 'coolprop; python_version > "3.8"', + # coolprop 7.0.0 fails on macOS + Python > 3.8, see + # https://github.com/softwareengineerprogrammer/GEOPHIRES/actions/runs/16888333182/job/47841807973 + 'coolprop == 6.8.0; python_version > "3.8"', # coolprop > 6.7.0 fails on Python 3.8, see # https://github.com/softwareengineerprogrammer/GEOPHIRES/actions/runs/14599234458/job/40952924048?pr=69#step:5:302 'coolprop==6.7.0; python_version == "3.8"', diff --git a/tests/examples/Fervo_Project_Cape-4.out b/tests/examples/Fervo_Project_Cape-4.out index c05d23ba..f37410a8 100644 --- a/tests/examples/Fervo_Project_Cape-4.out +++ b/tests/examples/Fervo_Project_Cape-4.out @@ -4,17 +4,17 @@ Simulation Metadata ---------------------- - GEOPHIRES Version: 3.9.41 - Simulation Date: 2025-07-27 - Simulation Time: 11:26 - Calculation Time: 1.738 sec + GEOPHIRES Version: 3.9.48 + Simulation Date: 2025-08-11 + Simulation Time: 10:37 + Calculation Time: 1.730 sec ***SUMMARY OF RESULTS*** End-Use Option: Electricity Average Net Electricity Production: 532.53 MW - Electricity breakeven price: 7.55 cents/kWh - Total CAPEX: 2639.39 MUSD + Electricity breakeven price: 8.11 cents/kWh + Total CAPEX: 2660.87 MUSD Number of production wells: 59 Number of injection wells: 59 Flowrate per production well: 107.0 kg/sec @@ -28,14 +28,14 @@ Simulation Metadata Real Discount Rate: 12.00 % Nominal Discount Rate: 14.58 % WACC: 8.30 % - Accrued financing during construction: 15.00 % + Accrued financing during construction: 2.30 % Project lifetime: 30 yr Capacity factor: 90.0 % - Project NPV: 641.24 MUSD - After-tax IRR: 31.51 % - Project VIR=PI=PIR: 1.61 - Project MOIC: 5.77 - Project Payback Period: 1.95 yr + Project NPV: 483.35 MUSD + After-tax IRR: 27.55 % + Project VIR=PI=PIR: 1.45 + Project MOIC: 4.84 + Project Payback Period: 2.33 yr Estimated Jobs Created: 1300 ***ENGINEERING PARAMETERS*** @@ -99,13 +99,13 @@ Simulation Metadata Drilling and completion costs: 467.75 MUSD Drilling and completion costs per well: 3.96 MUSD - Stimulation costs: 236.88 MUSD + Stimulation costs: 542.80 MUSD Surface power plant costs: 1504.05 MUSD Field gathering system costs: 56.44 MUSD Total surface equipment costs: 1560.49 MUSD Exploration costs: 30.00 MUSD - Inflation costs during construction: 344.27 MUSD - Total CAPEX: 2639.39 MUSD + Inflation costs during construction: 59.82 MUSD + Total CAPEX: 2660.87 MUSD ***OPERATING AND MAINTENANCE COSTS (M$/yr)*** @@ -113,8 +113,8 @@ Simulation Metadata Wellfield maintenance costs: 6.20 MUSD/yr Power plant maintenance costs: 25.43 MUSD/yr Water costs: 24.86 MUSD/yr - Redrilling costs: 70.46 MUSD/yr - Total operating and maintenance costs: 126.95 MUSD/yr + Redrilling costs: 101.05 MUSD/yr + Total operating and maintenance costs: 157.54 MUSD/yr ***SURFACE EQUIPMENT SIMULATION RESULTS*** @@ -224,43 +224,43 @@ PPA price (cents/kWh) 0.0 9.50 9 PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 Curtailment payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Capacity payment revenue ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,319,696,135 -Total revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 1,789,572,843 +Salvage value ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1,330,433,188 +Total revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 1,800,309,896 -Property tax net assessed value ($) 0 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 2,639,392,270 +Property tax net assessed value ($) 0 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 2,660,866,376 OPERATING EXPENSES -O&M fixed expense ($) 0 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 +O&M fixed expense ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 O&M production-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 O&M capacity-based expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Fuel expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Electricity purchase ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Property tax expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Insurance expense ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Total operating expenses ($) 0 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 126,952,474 +Total operating expenses ($) 0 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 157,544,343 -EBITDA ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 OPERATING ACTIVITIES -EBITDA ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 plus PBI if not available for debt service: Federal PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Utility PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Other PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Debt interest payment ($) 0 88,683,580 87,480,404 86,209,849 84,868,143 83,451,302 81,955,118 80,375,147 78,706,698 76,944,816 75,084,269 73,119,531 71,044,767 68,853,817 66,540,174 64,096,966 61,516,939 58,792,431 55,915,350 52,877,152 49,668,815 46,280,812 42,703,080 38,924,995 34,935,338 30,722,260 26,273,249 21,575,094 16,613,842 11,374,760 5,842,289 -Cash flow from operating activities ($) 0 182,724,931 186,426,650 190,861,418 195,043,962 198,993,360 202,155,947 203,087,139 199,310,625 202,133,754 217,364,476 222,929,121 228,008,174 232,937,185 237,468,810 240,597,294 240,257,648 234,252,419 253,881,327 262,051,556 268,503,357 274,779,118 280,904,625 286,277,092 289,316,276 287,312,106 292,694,985 311,833,886 320,504,276 328,795,689 1,656,778,080 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 INVESTING ACTIVITIES -Total installed cost ($) -2,639,392,270 +Total installed cost ($) -2,660,866,376 Debt closing costs ($) 0 Debt up-front fee ($) 0 minus: Total IBI income ($) 0 Total CBI income ($) 0 equals: -Purchase of property ($) -2,639,392,270 +Purchase of property ($) -2,660,866,376 plus: Reserve (increase)/decrease debt service ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve (increase)/decrease working capital ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 @@ -272,86 +272,86 @@ Reserve capital spending major equipment 1 ($) 0 0 0 Reserve capital spending major equipment 2 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserve capital spending major equipment 3 ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash flow from investing activities ($) -2,639,392,270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from investing activities ($) -2,660,866,376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 FINANCING ACTIVITIES -Issuance of equity ($) 1,055,756,908 -Size of debt ($) 1,583,635,362 +Issuance of equity ($) 1,064,346,550 +Size of debt ($) 1,596,519,826 minus: -Debt principal payment ($) 0 21,485,298 22,688,475 23,959,029 25,300,735 26,717,576 28,213,760 29,793,731 31,462,180 33,224,062 35,084,609 37,049,347 39,124,111 41,315,061 43,628,705 46,071,912 48,651,939 51,376,448 54,253,529 57,291,726 60,500,063 63,888,067 67,465,798 71,243,883 75,233,540 79,446,619 83,895,629 88,593,785 93,555,037 98,794,119 104,326,589 +Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 equals: -Cash flow from financing activities ($) 2,639,392,270 -21,485,298 -22,688,475 -23,959,029 -25,300,735 -26,717,576 -28,213,760 -29,793,731 -31,462,180 -33,224,062 -35,084,609 -37,049,347 -39,124,111 -41,315,061 -43,628,705 -46,071,912 -48,651,939 -51,376,448 -54,253,529 -57,291,726 -60,500,063 -63,888,067 -67,465,798 -71,243,883 -75,233,540 -79,446,619 -83,895,629 -88,593,785 -93,555,037 -98,794,119 -104,326,589 +Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 PROJECT RETURNS Pre-tax Cash Flow: -Cash flow from operating activities ($) 0 182,724,931 186,426,650 190,861,418 195,043,962 198,993,360 202,155,947 203,087,139 199,310,625 202,133,754 217,364,476 222,929,121 228,008,174 232,937,185 237,468,810 240,597,294 240,257,648 234,252,419 253,881,327 262,051,556 268,503,357 274,779,118 280,904,625 286,277,092 289,316,276 287,312,106 292,694,985 311,833,886 320,504,276 328,795,689 1,656,778,080 -Cash flow from investing activities ($) -2,639,392,270 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Cash flow from financing activities ($) 2,639,392,270 -21,485,298 -22,688,475 -23,959,029 -25,300,735 -26,717,576 -28,213,760 -29,793,731 -31,462,180 -33,224,062 -35,084,609 -37,049,347 -39,124,111 -41,315,061 -43,628,705 -46,071,912 -48,651,939 -51,376,448 -54,253,529 -57,291,726 -60,500,063 -63,888,067 -67,465,798 -71,243,883 -75,233,540 -79,446,619 -83,895,629 -88,593,785 -93,555,037 -98,794,119 -104,326,589 -Total pre-tax cash flow ($) 0 161,239,633 163,738,175 166,902,389 169,743,227 172,275,784 173,942,186 173,293,409 167,848,445 168,909,692 182,279,867 185,879,774 188,884,063 191,622,124 193,840,105 194,525,382 191,605,709 182,875,972 199,627,798 204,759,829 208,003,294 210,891,051 213,438,827 215,033,209 214,082,736 207,865,487 208,799,356 223,240,101 226,949,239 230,001,570 1,552,451,491 +Cash flow from operating activities ($) 0 151,411,532 155,123,040 159,568,146 163,761,606 167,722,531 170,897,291 171,841,338 168,078,398 170,915,862 186,161,722 191,742,352 196,838,284 201,785,121 206,335,570 209,483,932 209,165,277 203,182,215 222,834,531 231,029,478 237,507,383 243,810,708 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 +Cash flow from investing activities ($) -2,660,866,376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Cash flow from financing activities ($) 2,660,866,376 -21,660,102 -22,873,068 -24,153,960 -25,506,582 -26,934,950 -28,443,308 -30,036,133 -31,718,156 -33,494,373 -35,370,058 -37,350,781 -39,442,425 -41,651,201 -43,983,668 -46,446,753 -49,047,771 -51,794,447 -54,694,936 -57,757,852 -60,992,292 -64,407,860 -68,014,700 -71,823,524 -75,845,641 -80,092,997 -84,578,205 -89,314,584 -94,316,201 -99,597,908 -105,175,391 +Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 Pre-tax Returns: -Issuance of equity ($) 1,055,756,908 -Total pre-tax cash flow ($) 0 161,239,633 163,738,175 166,902,389 169,743,227 172,275,784 173,942,186 173,293,409 167,848,445 168,909,692 182,279,867 185,879,774 188,884,063 191,622,124 193,840,105 194,525,382 191,605,709 182,875,972 199,627,798 204,759,829 208,003,294 210,891,051 213,438,827 215,033,209 214,082,736 207,865,487 208,799,356 223,240,101 226,949,239 230,001,570 1,552,451,491 -Total pre-tax returns ($) -1,055,756,908 161,239,633 163,738,175 166,902,389 169,743,227 172,275,784 173,942,186 173,293,409 167,848,445 168,909,692 182,279,867 185,879,774 188,884,063 191,622,124 193,840,105 194,525,382 191,605,709 182,875,972 199,627,798 204,759,829 208,003,294 210,891,051 213,438,827 215,033,209 214,082,736 207,865,487 208,799,356 223,240,101 226,949,239 230,001,570 1,552,451,491 +Issuance of equity ($) 1,064,346,550 +Total pre-tax cash flow ($) 0 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 After-tax Returns: -Total pre-tax returns ($) -1,055,756,908 161,239,633 163,738,175 166,902,389 169,743,227 172,275,784 173,942,186 173,293,409 167,848,445 168,909,692 182,279,867 185,879,774 188,884,063 191,622,124 193,840,105 194,525,382 191,605,709 182,875,972 199,627,798 204,759,829 208,003,294 210,891,051 213,438,827 215,033,209 214,082,736 207,865,487 208,799,356 223,240,101 226,949,239 230,001,570 1,552,451,491 -Federal ITC total income ($) 0 791,817,681 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Total pre-tax returns ($) -1,064,346,550 129,751,430 132,249,972 135,414,186 138,255,024 140,787,581 142,453,983 141,805,205 136,360,242 137,421,489 150,791,664 154,391,571 157,395,859 160,133,921 162,351,902 163,037,179 160,117,506 151,387,768 168,139,595 173,271,626 176,515,091 179,402,848 181,950,624 183,545,006 182,594,532 176,377,284 177,311,153 191,751,898 195,461,036 198,513,367 1,531,700,341 +Federal ITC total income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal tax benefit (liability) ($) 0 -24,732,371 -14,501,509 -15,367,619 -16,184,470 -16,955,788 -17,573,441 -17,755,303 -17,017,749 -17,569,106 -20,543,667 -21,630,442 -22,622,381 -23,585,017 -24,470,043 -25,081,036 -25,014,703 -23,841,882 -27,675,407 -29,271,053 -30,531,090 -42,710,554 -54,860,673 -55,909,916 -56,503,469 -56,112,054 -57,163,331 -60,901,158 -62,594,485 -64,213,798 -323,568,759 +Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -8,864,649 -5,197,673 -5,508,107 -5,800,885 -6,077,343 -6,298,724 -6,363,908 -6,099,552 -6,297,171 -7,363,321 -7,752,846 -8,108,380 -8,453,411 -8,770,625 -8,989,619 -8,965,843 -8,545,477 -9,919,501 -10,491,417 -10,943,043 -15,308,442 -19,663,324 -20,039,396 -20,252,139 -20,111,847 -20,488,649 -21,828,372 -22,435,299 -23,015,698 -115,974,466 -Total after-tax returns ($) -1,055,756,908 919,460,294 144,038,993 146,026,663 147,757,872 149,242,653 150,070,021 149,174,198 144,731,144 145,043,415 154,372,879 156,496,486 158,153,302 159,583,696 160,599,438 160,454,727 157,625,163 150,488,612 162,032,890 164,997,359 166,529,161 152,872,055 138,914,830 139,083,897 137,327,127 131,641,585 131,147,376 140,510,571 141,919,455 142,772,074 1,112,908,266 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 +Total after-tax returns ($) -1,064,346,550 902,842,830 121,097,763 123,082,690 124,811,004 126,292,727 127,116,866 126,217,632 121,770,976 122,079,444 131,404,893 133,524,258 135,176,596 136,602,262 137,613,009 137,463,025 134,627,892 127,485,460 139,023,528 141,981,439 143,506,316 129,720,834 115,634,823 115,795,735 114,030,354 108,335,718 107,831,906 117,184,960 118,583,135 119,424,446 1,097,437,209 -After-tax cumulative IRR (%) NaN -12.91 0.65 10.70 17.40 21.79 24.70 26.65 27.96 28.88 29.57 30.08 30.45 30.72 30.92 31.07 31.18 31.26 31.32 31.37 31.41 31.43 31.45 31.47 31.48 31.48 31.49 31.49 31.50 31.50 31.51 -After-tax cumulative NPV ($) -1,055,756,908 -253,267,474 -143,545,715 -46,460,926 39,277,598 114,860,694 181,194,056 238,743,100 287,474,933 330,099,021 369,693,483 404,726,244 435,625,953 462,838,612 486,740,535 507,582,932 525,453,035 540,343,610 554,336,820 566,773,302 577,728,422 586,505,730 593,466,995 599,550,064 604,792,204 609,178,033 612,991,540 616,557,531 619,701,075 622,461,191 641,239,205 +After-tax cumulative IRR (%) NaN -15.17 -3.40 5.89 12.37 16.79 19.80 21.87 23.28 24.29 25.09 25.68 26.13 26.46 26.72 26.91 27.06 27.16 27.25 27.32 27.37 27.41 27.44 27.46 27.47 27.49 27.49 27.50 27.51 27.51 27.55 +After-tax cumulative NPV ($) -1,064,346,550 -276,360,559 -184,114,290 -102,283,638 -29,860,348 34,099,888 90,287,586 138,980,351 179,981,359 215,856,997 249,560,495 279,450,773 305,861,334 329,155,135 349,636,000 367,491,871 382,754,753 395,369,208 407,375,323 418,077,007 427,517,570 434,965,626 440,760,289 445,824,811 450,177,651 453,787,012 456,922,551 459,896,566 462,523,206 464,831,957 483,348,930 AFTER-TAX LCOE AND PPA PRICE -Annual costs ($) -1,055,756,908 521,099,309 -256,820,535 -257,997,079 -259,106,708 -260,154,483 -260,993,517 -261,240,562 -260,238,653 -260,987,629 -265,028,340 -266,504,640 -267,852,113 -269,159,780 -270,362,020 -271,192,006 -271,101,898 -269,508,711 -274,716,260 -276,883,822 -278,595,485 -295,140,348 -311,645,349 -313,070,665 -313,876,960 -313,345,254 -314,773,332 -319,850,882 -322,151,136 -324,350,848 643,031,558 +Annual costs ($) -1,064,346,550 504,481,845 -279,761,764 -280,941,051 -282,053,576 -283,104,409 -283,946,673 -284,197,129 -283,198,821 -283,951,600 -287,996,326 -289,476,868 -290,828,818 -292,141,214 -293,348,448 -294,183,709 -294,099,170 -292,511,863 -297,725,623 -299,899,742 -301,618,330 -318,291,569 -334,925,356 -336,358,826 -337,173,733 -336,651,121 -338,088,802 -343,176,493 -345,487,456 -347,698,476 627,560,501 PPA revenue ($) 0 398,360,985 400,859,527 404,023,741 406,864,580 409,397,136 411,063,538 410,414,761 404,969,797 406,031,044 419,401,219 423,001,126 426,005,415 428,743,476 430,961,457 431,646,734 428,727,061 419,997,324 436,749,150 441,881,181 445,124,646 448,012,403 450,560,179 452,154,561 451,204,088 444,986,839 445,920,708 460,361,453 464,070,591 467,122,922 469,876,708 Electricity to grid (kWh) 0.0 4,193,273,525 4,219,573,970 4,227,516,388 4,232,001,035 4,233,245,126 4,225,570,913 4,194,325,606 4,114,710,394 4,101,737,992 4,212,547,398 4,224,519,385 4,230,441,060 4,233,667,186 4,231,750,368 4,214,888,525 4,163,207,043 4,055,985,743 4,194,671,056 4,220,853,770 4,228,811,003 4,233,321,393 4,234,588,146 4,226,928,684 4,195,686,141 4,116,056,232 4,103,061,353 4,213,834,812 4,225,738,401 4,231,569,184 4,234,649,495 -Present value of annual costs ($) 2,140,838,644 +Present value of annual costs ($) 2,298,728,919 Present value of annual energy nominal (kWh) 28,355,365,264 -LCOE Levelized cost of energy nominal (cents/kWh) 7.55 +LCOE Levelized cost of energy nominal (cents/kWh) 8.11 Present value of PPA revenue ($) 2,782,077,849 Present value of annual energy nominal (kWh) 28,355,365,264 LPPA Levelized PPA price nominal (cents/kWh) 9.81 PROJECT STATE INCOME TAXES -EBITDA ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 State taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State taxable IBI income ($) 0 State taxable CBI income ($) 0 minus: -Debt interest payment ($) 0 88,683,580 87,480,404 86,209,849 84,868,143 83,451,302 81,955,118 80,375,147 78,706,698 76,944,816 75,084,269 73,119,531 71,044,767 68,853,817 66,540,174 64,096,966 61,516,939 58,792,431 55,915,350 52,877,152 49,668,815 46,280,812 42,703,080 38,924,995 34,935,338 30,722,260 26,273,249 21,575,094 16,613,842 11,374,760 5,842,289 -Total state tax depreciation ($) 0 56,087,086 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 56,087,086 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Total state tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 equals: -State taxable income ($) 0 126,637,845 74,252,478 78,687,247 82,869,791 86,819,189 89,981,775 90,912,968 87,136,453 89,959,582 105,190,305 110,754,950 115,834,002 120,763,014 125,294,638 128,423,122 128,083,477 122,078,248 141,707,156 149,877,384 156,329,186 218,692,032 280,904,625 286,277,092 289,316,276 287,312,106 292,694,985 311,833,886 320,504,276 328,795,689 1,656,778,080 +State taxable income ($) 0 94,868,122 42,036,219 46,481,325 50,674,785 54,635,710 57,810,470 58,754,517 54,991,577 57,829,041 73,074,901 78,655,531 83,751,463 88,698,300 93,248,749 96,397,111 96,078,457 90,095,394 109,747,710 117,942,657 124,420,562 187,267,297 249,965,324 255,368,530 258,440,173 256,470,281 261,889,357 281,066,482 289,777,237 298,111,275 1,636,875,732 State income tax rate (frac) 0.0 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 0.07 -State tax benefit (liability) ($) 0 -8,864,649 -5,197,673 -5,508,107 -5,800,885 -6,077,343 -6,298,724 -6,363,908 -6,099,552 -6,297,171 -7,363,321 -7,752,846 -8,108,380 -8,453,411 -8,770,625 -8,989,619 -8,965,843 -8,545,477 -9,919,501 -10,491,417 -10,943,043 -15,308,442 -19,663,324 -20,039,396 -20,252,139 -20,111,847 -20,488,649 -21,828,372 -22,435,299 -23,015,698 -115,974,466 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 PROJECT FEDERAL INCOME TAXES -EBITDA ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 Interest earned on reserves ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -State tax benefit (liability) ($) 0 -8,864,649 -5,197,673 -5,508,107 -5,800,885 -6,077,343 -6,298,724 -6,363,908 -6,099,552 -6,297,171 -7,363,321 -7,752,846 -8,108,380 -8,453,411 -8,770,625 -8,989,619 -8,965,843 -8,545,477 -9,919,501 -10,491,417 -10,943,043 -15,308,442 -19,663,324 -20,039,396 -20,252,139 -20,111,847 -20,488,649 -21,828,372 -22,435,299 -23,015,698 -115,974,466 +State tax benefit (liability) ($) 0 -6,640,769 -2,942,535 -3,253,693 -3,547,235 -3,824,500 -4,046,733 -4,112,816 -3,849,410 -4,048,033 -5,115,243 -5,505,887 -5,862,602 -6,208,881 -6,527,412 -6,747,798 -6,725,492 -6,306,678 -7,682,340 -8,255,986 -8,709,439 -13,108,711 -17,497,573 -17,875,797 -18,090,812 -17,952,920 -18,332,255 -19,674,654 -20,284,407 -20,867,789 -114,581,301 State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal taxable IBI income ($) 0 Federal taxable CBI income ($) 0 Federal taxable PBI income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 minus: -Debt interest payment ($) 0 88,683,580 87,480,404 86,209,849 84,868,143 83,451,302 81,955,118 80,375,147 78,706,698 76,944,816 75,084,269 73,119,531 71,044,767 68,853,817 66,540,174 64,096,966 61,516,939 58,792,431 55,915,350 52,877,152 49,668,815 46,280,812 42,703,080 38,924,995 34,935,338 30,722,260 26,273,249 21,575,094 16,613,842 11,374,760 5,842,289 -Total federal tax depreciation ($) 0 56,087,086 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 112,174,171 56,087,086 0 0 0 0 0 0 0 0 0 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Total federal tax depreciation ($) 0 56,543,410 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 113,086,821 56,543,410 0 0 0 0 0 0 0 0 0 equals: -Federal taxable income ($) 0 117,773,196 69,054,805 73,179,140 77,068,905 80,741,845 83,683,051 84,549,060 81,036,901 83,662,411 97,826,983 103,002,103 107,725,622 112,309,603 116,524,014 119,433,504 119,117,633 113,532,771 131,787,655 139,385,967 145,386,143 203,383,590 261,241,301 266,237,696 269,064,137 267,200,258 272,206,336 290,005,514 298,068,976 305,779,991 1,540,803,615 +Federal taxable income ($) 0 88,227,353 39,093,684 43,227,632 47,127,550 50,811,211 53,763,737 54,641,701 51,142,167 53,781,008 67,959,658 73,149,644 77,888,861 82,489,419 86,721,337 89,649,313 89,352,965 83,788,717 102,065,370 109,686,671 115,711,122 174,158,587 232,467,751 237,492,733 240,349,361 238,517,361 243,557,102 261,391,828 269,492,830 277,243,486 1,522,294,430 Federal income tax rate (frac) 0.0 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 0.21 -Federal tax benefit (liability) ($) 0 -24,732,371 -14,501,509 -15,367,619 -16,184,470 -16,955,788 -17,573,441 -17,755,303 -17,017,749 -17,569,106 -20,543,667 -21,630,442 -22,622,381 -23,585,017 -24,470,043 -25,081,036 -25,014,703 -23,841,882 -27,675,407 -29,271,053 -30,531,090 -42,710,554 -54,860,673 -55,909,916 -56,503,469 -56,112,054 -57,163,331 -60,901,158 -62,594,485 -64,213,798 -323,568,759 +Federal tax benefit (liability) ($) 0 -18,527,744 -8,209,674 -9,077,803 -9,896,786 -10,670,354 -11,290,385 -11,474,757 -10,739,855 -11,294,012 -14,271,528 -15,361,425 -16,356,661 -17,322,778 -18,211,481 -18,826,356 -18,764,123 -17,595,630 -21,433,728 -23,034,201 -24,299,336 -36,573,303 -48,818,228 -49,873,474 -50,473,366 -50,088,646 -51,146,991 -54,892,284 -56,593,494 -58,221,132 -319,681,830 CASH INCENTIVES Federal IBI income ($) 0 @@ -377,30 +377,30 @@ Federal PTC income ($) 0 0 0 State PTC income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Federal ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC percent income ($) 0 791,817,681 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 -Federal ITC total income ($) 0 791,817,681 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC percent income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 +Federal ITC total income ($) 0 798,259,913 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State ITC amount income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State ITC percent income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 State ITC total income ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 DEBT REPAYMENT -Debt balance ($) 1,583,635,362 1,562,150,064 1,539,461,590 1,515,502,560 1,490,201,825 1,463,484,249 1,435,270,489 1,405,476,758 1,374,014,578 1,340,790,516 1,305,705,907 1,268,656,560 1,229,532,449 1,188,217,387 1,144,588,683 1,098,516,771 1,049,864,832 998,488,384 944,234,855 886,943,129 826,443,066 762,554,999 695,089,201 623,845,318 548,611,777 469,165,159 385,269,529 296,675,745 203,120,708 104,326,589 0 -Debt interest payment ($) 0 88,683,580 87,480,404 86,209,849 84,868,143 83,451,302 81,955,118 80,375,147 78,706,698 76,944,816 75,084,269 73,119,531 71,044,767 68,853,817 66,540,174 64,096,966 61,516,939 58,792,431 55,915,350 52,877,152 49,668,815 46,280,812 42,703,080 38,924,995 34,935,338 30,722,260 26,273,249 21,575,094 16,613,842 11,374,760 5,842,289 -Debt principal payment ($) 0 21,485,298 22,688,475 23,959,029 25,300,735 26,717,576 28,213,760 29,793,731 31,462,180 33,224,062 35,084,609 37,049,347 39,124,111 41,315,061 43,628,705 46,071,912 48,651,939 51,376,448 54,253,529 57,291,726 60,500,063 63,888,067 67,465,798 71,243,883 75,233,540 79,446,619 83,895,629 88,593,785 93,555,037 98,794,119 104,326,589 -Debt total payment ($) 0 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 +Debt balance ($) 1,596,519,826 1,574,859,723 1,551,986,655 1,527,832,695 1,502,326,113 1,475,391,163 1,446,947,855 1,416,911,722 1,385,193,566 1,351,699,193 1,316,329,135 1,278,978,354 1,239,535,929 1,197,884,729 1,153,901,061 1,107,454,308 1,058,406,536 1,006,612,089 951,917,154 894,159,302 833,167,010 768,759,150 700,744,449 628,920,926 553,075,285 472,982,288 388,404,084 299,089,500 204,773,299 105,175,391 0 +Debt interest payment ($) 0 89,405,110 88,192,144 86,911,253 85,558,631 84,130,262 82,621,905 81,029,080 79,347,056 77,570,840 75,695,155 73,714,432 71,622,788 69,414,012 67,081,545 64,618,459 62,017,441 59,270,766 56,370,277 53,307,361 50,072,921 46,657,353 43,050,512 39,241,689 35,219,572 30,972,216 26,487,008 21,750,629 16,749,012 11,467,305 5,889,822 +Debt principal payment ($) 0 21,660,102 22,873,068 24,153,960 25,506,582 26,934,950 28,443,308 30,036,133 31,718,156 33,494,373 35,370,058 37,350,781 39,442,425 41,651,201 43,983,668 46,446,753 49,047,771 51,794,447 54,694,936 57,757,852 60,992,292 64,407,860 68,014,700 71,823,524 75,845,641 80,092,997 84,578,205 89,314,584 94,316,201 99,597,908 105,175,391 +Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 DSCR (DEBT FRACTION) -EBITDA ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 +EBITDA ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 minus: Reserves major equipment 1 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves major equipment 2 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves major equipment 3 funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Reserves receivables funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 equals: -Cash available for debt service (CAFDS) ($) 0 271,408,511 273,907,053 277,071,267 279,912,106 282,444,662 284,111,065 283,462,287 278,017,323 279,078,570 292,448,745 296,048,652 299,052,941 301,791,002 304,008,984 304,694,260 301,774,587 293,044,850 309,796,677 314,928,707 318,172,172 321,059,929 323,607,705 325,202,088 324,251,614 318,034,365 318,968,234 333,408,979 337,118,117 340,170,448 1,662,620,369 -Debt total payment ($) 0 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 110,168,878 -DSCR (pre-tax) 0.0 2.46 2.49 2.51 2.54 2.56 2.58 2.57 2.52 2.53 2.65 2.69 2.71 2.74 2.76 2.77 2.74 2.66 2.81 2.86 2.89 2.91 2.94 2.95 2.94 2.89 2.90 3.03 3.06 3.09 15.09 +Cash available for debt service (CAFDS) ($) 0 240,816,642 243,315,185 246,479,399 249,320,237 251,852,794 253,519,196 252,870,418 247,425,454 248,486,701 261,856,876 265,456,784 268,461,072 271,199,133 273,417,115 274,102,391 271,182,719 262,452,981 279,204,808 284,336,839 287,580,304 290,468,060 293,015,836 294,610,219 293,659,745 287,442,497 288,376,365 302,817,111 306,526,249 309,578,580 1,642,765,554 +Debt total payment ($) 0 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 111,065,213 +DSCR (pre-tax) 0.0 2.17 2.19 2.22 2.24 2.27 2.28 2.28 2.23 2.24 2.36 2.39 2.42 2.44 2.46 2.47 2.44 2.36 2.51 2.56 2.59 2.62 2.64 2.65 2.64 2.59 2.60 2.73 2.76 2.79 14.79 RESERVES Reserves working capital funding ($) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 diff --git a/tests/examples/Fervo_Project_Cape-4.txt b/tests/examples/Fervo_Project_Cape-4.txt index 32768b61..d2c1fe95 100644 --- a/tests/examples/Fervo_Project_Cape-4.txt +++ b/tests/examples/Fervo_Project_Cape-4.txt @@ -17,10 +17,8 @@ Fraction of Investment in Bonds, .6, -- Based on fraction of CAPEX with $1 billi Inflated Bond Interest Rate, .056 Inflation Rate, .023, -- US inflation as of April 2025 -Inflation Rate During Construction, 0.15, -- Models a higher annual inflation rate (4.769%) over the 3-year construction period as a hedge against short-term inflation volatility. Construction Years, 1, -- Calibrated to a 2-6 year construction time for a 1 GW plant (Yusifov & Enriquez, 2025) - Combined Income Tax Rate, .28 Investment Tax Credit Rate, 0.3 Property Tax Rate, 0 @@ -31,7 +29,10 @@ Exploration Capital Cost, 30, -- Estimate significantly higher exploration costs Well Drilling Cost Correlation, 3, -- VERTICAL_LARGE (2025 NREL Geothermal Drilling Cost Curve Update) Well Drilling and Completion Capital Cost Adjustment Factor, 0.8, -- Adjust correlation-calculated value of $4.72M/well to $3.96M/well per Tim Latimer on 2025-02-12 Volts podcast: less than $4M/well -Reservoir Stimulation Capital Cost Adjustment Factor, 2.66, -- Estimated cost of ~$2M per well. Typical range for Nth-of-kind projects may be $0.5–2M. +Reservoir Stimulation Capital Cost per Injection Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. +Reservoir Stimulation Capital Cost per Production Well, 4, -- Baseline stimulation cost of $4.0M, calibrated from high-intensity U.S. shale well analogue (~$39k/frac stage for 102 stages). This is a pre-contingency value and excludes EGS-specific cost premiums such as ceramic proppant and HPHT hardware. +Reservoir Stimulation Indirect Capital Cost Percentage, 0, -- Baseline stimulation cost includes indirect costs + Field Gathering System Capital Cost Adjustment Factor, 0.54, -- Gathering costs represent 2% of facilities CAPEX per https://www.linkedin.com/pulse/fervo-energy-technology-day-2024-entering-geothermal-decade-matson-n4stc/ # *** SURFACE & SUBSURFACE TECHNICAL PARAMETERS *** diff --git a/tests/geophires_x_tests/test_fervo_project_cape_4.py b/tests/geophires_x_tests/test_fervo_project_cape_4.py index 4544759d..57d9e888 100644 --- a/tests/geophires_x_tests/test_fervo_project_cape_4.py +++ b/tests/geophires_x_tests/test_fervo_project_cape_4.py @@ -72,8 +72,17 @@ def test_case_study_documentation(self): inputs_in_markdown = self.parse_markdown_inputs_structured(documentation_file_content) results_in_markdown = self.parse_markdown_results_structured(documentation_file_content) - self.assertEqual(3.96, results_in_markdown['Well Drilling and Completion Cost']['value']) - self.assertEqual('MUSD/well', results_in_markdown['Well Drilling and Completion Cost']['unit']) + self.assertEqual(3.96, results_in_markdown['Well Drilling and Completion Costs']['value']) + self.assertEqual('MUSD/well', results_in_markdown['Well Drilling and Completion Costs']['unit']) + + expected_stim_cost_MUSD_per_well = 4.6 + self.assertEqual(expected_stim_cost_MUSD_per_well, results_in_markdown['Stimulation Costs']['value']) + self.assertEqual('MUSD/well', results_in_markdown['Stimulation Costs']['unit']) + + self.assertEqual( + expected_stim_cost_MUSD_per_well, inputs_in_markdown['Reservoir Stimulation Capital Cost per Well']['value'] + ) + self.assertEqual('MUSD', inputs_in_markdown['Reservoir Stimulation Capital Cost per Well']['unit']) class _Q(HasQuantity): def __init__(self, vu: dict[str, Any]): @@ -96,10 +105,16 @@ def __init__(self, vu: dict[str, Any]): field_mapping = { 'LCOE': 'Electricity breakeven price', 'Project capital costs: Total CAPEX': 'Total CAPEX', - 'Well Drilling and Completion Cost': 'Drilling and completion costs per well', + 'Well Drilling and Completion Costs': 'Drilling and completion costs per well', + 'Well Drilling and Completion Costs total': 'Drilling and completion costs', + 'Stimulation Costs total': 'Stimulation costs', } - ignore_keys = ['Project capital costs: $/kW', 'Total fracture surface area per production well'] + ignore_keys = [ + 'Project capital costs: $/kW', # See https://github.com/NREL/GEOPHIRES-X/issues/391 + 'Total fracture surface area per production well', + 'Stimulation Costs', # remapped to 'Stimulation Costs total' + ] example_result = GeophiresXResult(self._get_test_file_path('../examples/Fervo_Project_Cape-4.out')) example_result_values = {} @@ -116,10 +131,10 @@ def __init__(self, vu: dict[str, Any]): if ignore_key in results_in_markdown: del results_in_markdown[ignore_key] - results_in_markdown['Well Drilling and Completion Cost']['unit'] = results_in_markdown[ - 'Well Drilling and Completion Cost' + results_in_markdown['Well Drilling and Completion Costs']['unit'] = results_in_markdown[ + 'Well Drilling and Completion Costs' ]['unit'].replace('/well', '') - self.assertDictAlmostEqual(example_result_values, results_in_markdown, places=3) + self.assertDictAlmostEqual(example_result_values, results_in_markdown, percent=0.185) result_capex_USD_per_kW = ( _Q(example_result._get_result_field('Total CAPEX')).quantity().to('USD').magnitude @@ -143,6 +158,12 @@ def __init__(self, vu: dict[str, Any]): inputs_in_markdown['Reservoir Volume']['value'], ) + expected_stim_cost_total_MUSD = expected_stim_cost_MUSD_per_well * num_doublets * 2 + self.assertEqual( + expected_stim_cost_total_MUSD, + example_result.result['CAPITAL COSTS (M$)']['Stimulation costs']['value'], + ) + def parse_markdown_results_structured(self, markdown_text: str) -> dict: """ Parses result values from markdown into a structured dictionary with values and units. @@ -192,10 +213,24 @@ def parse_markdown_results_structured(self, markdown_text: str) -> dict: 'Project capital costs: Total CAPEX', 'Project capital costs: $/kW', 'WACC', - 'Well Drilling and Completion Cost', + 'Well Drilling and Completion Costs', + 'Stimulation Costs', ]: structured_results[key_] = self._parse_value_unit(value_) + for result_with_total_key in ['Well Drilling and Completion Costs', 'Stimulation Costs']: + entry = structured_results[result_with_total_key] + + unit_str = entry['unit'] + entry['unit'] = unit_str.split(';')[0] + + # This probably could/should be done with some adaptation of self._parse_value_unit, but one-off parsing + # here is fine for now... + structured_results[f'{result_with_total_key} total'] = { + 'value': float(unit_str.split('; ')[1].replace(' total', '').replace('$', '').replace('M', '')), + 'unit': entry['unit'].split('/')[0], + } + return structured_results def parse_markdown_inputs_structured(self, markdown_text: str) -> dict: