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The Benchmark is 15%, it does clearly exceed the resulting equity IRRs, thus rendering the project activity economically unattractive.
PLF= Annual Gen. / Installed Cap. * (working hours)
=145,850/52.8*8760
=0.32
Sub-step 2d: Sensitivity analysis
While the main parameter determining the income of the project is the electricity sales revenue, investment cost and operation cost, a variation of the accordant values shall demonstrate the reliability of the IRR calculation. Key parameters are varied with +/-10%. The worst, base and best-case results for each parameter variation are given below, in Table .
The sensitivity analysis confirms that the proposed project activity is unlikely to be economically attractive without the revenues from VERs as even the maximum IRR result for the best case scenario (4.55 %) is below the benchmark, which is 15%
Table : Equity IRR results according to different parameters
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