Outcome of Step 1.b: Mut consisted with mandatory laws and regulations. Project implementation schedule shows us that Mut started to consideration of VER from the beginning of the project implementation and VER Revenue has decisive impact on decision of proceeding to the project.
Step 2. Investment analysis
“Guidelines on the assessment of investment analysis27” version 5 is taken into account when applying this step.
Applied tool: “Tool for the demonstration and assessment of additionality version 7.0.0”
Sub-step 2a: Determine appropriate analysis method
Three options can be applied for the investment analysis: the simple cost analysis, the investment comparison analysis and the benchmark analysis.
- Option I: Simple cost analysis
- Option II: Investment comparison analysis
- Option III: Benchmark analysis
The simple cost analysis is not applicable for the proposed project because the project activity will have revenue (from electricity sales) other than CDM related income. The investment comparison analysis is also not applicable for the proposed project because the baseline scenario, providing the same annual electricity output by the Turkish National Grid, is not an investment project.
To conclude, the benchmark analysis will be used to identify whether the financial indicators (Project IRR in this case) of the proposed project is better than relevant benchmark value.
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