YIYANG SUNSHINE POWER COMPANY, LTD.

PROJECT TERM SHEET

 

 

TOTAL PROJECT COST:                                            $83,605,018

 

DEBT: (2/3^RD)                                                              $55,731,000

 

EQUITY: (1/3^RD)                                                          $27,874,018

 

RATE OF RETURN (baseline-minimum take):   17% IRR over the 20 year term

 

RATE OF RETURN (minimum take):                18.08% (based only on 4,500 hours)

 

EPC CONTRACT:                                                       $63,594,000

 

TOTAL CONSTRUCTION COST:                               $68,784,000

 

TOTAL OUTPUT:                                                       110 MEGAWATTS

 

CONSTRUCTION PERIOD DEBT:                             BANK OF CHINA

 

LONG TERM DEBT (10 YEARS)                                CHINA CONSTUCTION BANK

 

EQUITY:(CHINESE PARTNER)                                 $4,181,087

 

CONSTRUCTION PERIOD:                                        24 MONTHS

 

CONSTRUCTION LEAD TIME:                                 6 MONTHS

 

POWER PURCHASE CONTRACT:                             4,500 HOURS/12 YEARS

 

POWER PURCHASE CONTRACT:                  50/50 SPLIT on ENERGY OVER

 

EPC CONTRACTOR:                                        China National Machinery (CMEC)

 

LIQUIDATED DAMAGES INSURANCE:                   CMEC

 

SITE:                                                                            YIYANG COUNTY, HENAN PROVINCE, CHINA

 

CHINESE GOVERNMENT APPROVALS:                 STATE PLANNING COMMISSION, CJV, PPA, FUEL, LAND, OTHERS