Data Yang Ditetapkan :

Harga Jual Listrik

Skema Pendanaan

900
30%
70%
6
2
20

Term of Payment
Construction Cost
Depreciation Period
Annual Inflasi Rate
Interest Rate [r]
Required Rate of Return

Rp/kWh
Equity
Loan
year
year
year

7.5%
13.5%
18.3%

Break Even (Payback),

when NPV = 0
then we've got:
IRR = WACC = 14.94%
Payback Period = 6.57 year
Analisa Sensitivitas :
VARIABEL

CAPACITY
FACTOR
(CF)

PLTM A
PLTM B
PLTM C
PLTM D
PLTM E

85%
80%
70%
60%
50%

CONSTRUCTION
COST
(EPC)
23,460,400,857
22,080,377,278
19,320,330,118
16,560,282,958
13,800,235,798

INTEREST
DEVELOPMENT
Interest During
Cost of Debt
COST
Construction
(IDC)
(Loan)
(EPC+IDC)
4,733,311,826
9,824,768,748
28,193,712,683
4,454,881,719
9,246,841,175
26,535,258,996
3,898,021,504
8,090,986,028
23,218,351,622
3,341,161,289
6,935,130,881
19,901,444,247
2,784,301,074
5,779,275,734
16,584,536,872
(Satuan biaya dalam Rp/MW

40,000,000,000
35,000,000,000

COST (Rp/MW)

30,000,000,000
25,000,000,000
20,000,000,000
15,000,000,000
10,000,000,000
5,000,000,000
0
50%

55%

60%

65%

70%

CAPACITY FACTOR (CF)

75%

80%

85%

INVESTMENT
COST
(EPC+IDC+Loan)
38,018,481,431
35,782,100,171
31,309,337,650
26,836,575,128
22,363,812,607
(Satuan biaya dalam Rp/MW)

Construction
Development
Investment

ASUMSI PERHITUNGAN
ASSUMPTION IN THE PROJECT
1 Project Overview
Capacity Installed
Capital Cost : Engineering Procurement and Construction (EPC)
Capacity Factor (CF)
Annual Energy Production
Grace Period (Construction Period)
Depreciation period (based on terms of contract of energy selling)
Energy Selling Price
Annual Operational Cost per kWh
- O&M Fixed Cost
- Water Cost & Retribution
- O&M Variable Cost
2 Economic Assumption
Annual Inflasi Rate
Interest Rate [r]
Foreign Currency Rp/USD
Riskfree Rate (Rf)
Market Return (Rm)
Beta Sector ()
3 Fund Scheme
Equity Ratio
Debt Ratio
Required Rate of Return
Weighted Average Cost of Capital (WACC)
Term of payment

1,000
23,460,401
23,460,400,857
85%
7,344,000
2
20
900
56
32
8
16

kW
Rp/kW
Rp
(annual)
kWh
year
year
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

7.5% per year

13.5% (annual)
9,000 Rp/USD
0.13
0.18
1.06
30%
70%
18.30%
14.94%
6

(capital)
(capital)
(CAPM)
year

PROYEKSI ANALISA KEUANGAN

BALANCE SHEETS
AKTIVA
-

Aktiva Tetap

Aktiva Lain

EKUITAS & KEWAJIBAN

Ekuitas
-

Modal Saham

Saldo Laba

Kewajiban
-

Hutang Jangka Panjang

INCOME STATEMENT
REVENUE
-

Penjualan energi listrik ke PLN

EXPENSE
-

O&M Fixed Cost

Water Cost and Retribution

O&M Variable Cost

Earnings Before Interest Depreciation Amortization and Taxes (EBITDA)

Depresiasi
Earnings Before Interest and Taxes (EBIT)
Interest
Earnings Before Taxes (EBT)
Taxes
Earnings After Taxes (EAT)
CASH FLOW STATEMENT
ALIRAN KAS MASUK
-

Modal Mandiri (Equity)

Modal Pinjaman (Loan+IDC)

Pendapatan Usaha (EAT+Depresiasi)

ALIRAN KAS KELUAR

-

Development Cost (EPC+IDC)

Angsuran Pokok (Principle)

KAS AWAL
KAS AKHIR
OUTPUT OF FINANCIAL ANALYSIS
Net Present Value (NPV)

Internal Rate of Return (IRR)

0
14.94% > WACC =

14.94%

Aliran Kas

Payback Period (PP)

6.57 tahun

Laba Ditahan :

ANALISA FINANSI
Construction Period
0

38,018,481,431

37,647,606,267

37,213,611,342

36,709,339,743

36,126,749,675

35,456,798,078

34,689,308,337

23,460,400,857

22,287,380,814

21,114,360,771

19,941,340,728

18,768,320,686

17,595,300,643

16,422,280,600

14,558,080,574

15,360,225,453

16,099,250,571

16,767,999,015

17,358,428,989

17,861,497,436

18,267,027,737

38,018,481,431

37,647,606,267

37,213,611,342

36,709,339,743

36,126,749,675

35,456,798,078

34,689,308,337

7,038,120,257

9,122,895,165

11,497,364,463

14,205,061,613

17,295,918,108

20,827,193,455

24,864,539,589

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

2,084,774,908

4,459,244,206

7,166,941,356

10,257,797,851

13,789,073,198

17,826,419,332

30,980,361,174

28,524,711,102

25,716,246,879

22,504,278,130

18,830,831,567

14,629,604,624

9,824,768,748

30,980,361,174

28,524,711,102

25,716,246,879

22,504,278,130

18,830,831,567

14,629,604,624

9,824,768,748

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

412,419,936

443,351,431

476,602,788

512,347,997

550,774,097

592,082,154

237,022,952

254,799,673

273,909,648

294,452,872

316,536,837

340,277,100

56,885,508

61,151,922

65,738,316

70,668,689

75,968,841

81,666,504

118,511,476

127,399,836

136,954,824

147,226,436

158,268,419

170,138,550

6,197,180,064

6,166,248,569

6,132,997,212

6,097,252,003

6,058,825,903

6,017,517,846

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

5,024,160,021

4,993,228,526

4,959,977,169

4,924,231,960

4,885,805,860

4,844,497,803

2,707,743,457

2,354,929,306

1,951,424,780

1,489,946,966

962,166,585

358,557,654

2,316,416,564

2,638,299,220

3,008,552,389

3,434,284,994

3,923,639,275

4,485,940,149

231,641,656

263,829,922

300,855,239

343,428,499

392,363,927

448,594,015

2,084,774,908

2,374,469,298

2,707,697,150

3,090,856,494

3,531,275,347

4,037,346,134

28,193,712,683

3,257,794,951

3,547,489,341

3,880,717,193

4,263,876,537

4,704,295,390

5,210,366,177

7,038,120,257

21,155,592,426

3,257,794,951

3,547,489,341

3,880,717,193

4,263,876,537

4,704,295,390

5,210,366,177

28,193,712,683

2,455,650,072

2,808,464,223

3,211,968,749

3,673,446,563

4,201,226,944

4,804,835,875

28,193,712,683

2,455,650,072

2,808,464,223

3,211,968,749

3,673,446,563

4,201,226,944

4,804,835,875

802,144,879

1,541,169,997

2,209,918,441

2,800,348,415

3,303,416,861

802,144,879

1,541,169,997

2,209,918,441

2,800,348,415

3,303,416,861

3,708,947,163

(28,193,712,683)

3,257,794,951

3,547,489,341

3,880,717,193

4,263,876,537

4,704,295,390

5,210,366,177

3,257,794,951

6,805,284,292

10,686,001,485

14,949,878,022

19,654,173,412

24,864,539,589

ANALISA FINANSIAL
TAHUN
7

10

11

12

13

29,184,622,066

33,461,741,582

37,692,675,914

41,873,961,174

46,001,873,681

50,072,410,480

15,249,260,557

14,076,240,514

12,903,220,471

11,730,200,429

10,557,180,386

9,384,160,343

54,081,268,391
8,211,140,300

13,935,361,509

19,385,501,067

24,789,455,442

30,143,760,745

35,444,693,296

40,688,250,137

45,870,128,091

29,184,622,066

33,461,741,582

37,692,675,914

41,873,961,174

46,001,873,681

50,072,410,480

54,081,268,391

29,184,622,066

33,461,741,582

37,692,675,914

41,873,961,174

46,001,873,681

50,072,410,480

54,081,268,391

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

22,146,501,809

26,423,621,324

30,654,555,657

34,835,840,917

38,963,753,424

43,034,290,223

47,043,148,134

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

636,488,316

684,224,940

735,541,810

790,707,446

850,010,504

913,761,292

982,293,389

365,797,883

393,232,724

422,725,178

454,429,567

488,511,784

525,150,168

564,536,431

87,791,492

94,375,854

101,454,043

109,063,096

117,242,828

126,036,040

135,488,743

182,898,941

196,616,362

211,362,589

227,214,783

244,255,892

262,575,084

282,268,215

5,973,111,684

5,925,375,060

5,874,058,190

5,818,892,554

5,759,589,496

5,695,838,708

5,627,306,611

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

4,800,091,641

4,752,355,017

4,701,038,147

4,645,872,511

4,586,569,453

4,522,818,665

4,454,286,568

4,800,091,641

4,752,355,017

4,701,038,147

4,645,872,511

4,586,569,453

4,522,818,665

4,454,286,568

480,009,164

475,235,502

470,103,815

464,587,251

458,656,945

452,281,866

445,428,657

4,320,082,477

4,277,119,516

4,230,934,332

4,181,285,260

4,127,912,507

4,070,536,798

4,008,857,911

5,493,102,520

5,450,139,559

5,403,954,375

5,354,305,303

5,300,932,550

5,243,556,841

5,181,877,954

5,493,102,520

5,450,139,559

5,403,954,375

5,354,305,303

5,300,932,550

5,243,556,841

5,181,877,954

3,708,947,163

9,202,049,683

14,652,189,241

20,056,143,617

25,410,448,919

30,711,381,470

35,954,938,311

9,202,049,683

14,652,189,241

20,056,143,617

25,410,448,919

30,711,381,470

35,954,938,311

41,136,816,265

5,493,102,520

5,450,139,559

5,403,954,375

5,354,305,303

5,300,932,550

5,243,556,841

5,181,877,954

30,357,642,109

35,807,781,667

41,211,736,042

46,566,041,345
Payback !

51,866,973,896

57,110,530,737

62,292,408,691

14

15

16

17

18

19

20

58,023,821,498

61,895,096,942

65,689,748,896

69,402,030,600

73,025,764,285

76,554,308,849

7,038,120,257

5,865,100,214

4,692,080,171

3,519,060,129

2,346,040,086

1,173,020,043

79,980,525,108
0

50,985,701,241

56,029,996,728

60,997,668,725

65,882,970,472

70,679,724,199

75,381,288,806

79,980,525,108

58,023,821,498

61,895,096,942

65,689,748,896

69,402,030,600

73,025,764,285

76,554,308,849

79,980,525,108

58,023,821,498

61,895,096,942

65,689,748,896

69,402,030,600

73,025,764,285

76,554,308,849

79,980,525,108

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

7,038,120,257

50,985,701,241

54,856,976,685

58,651,628,639

62,363,910,343

65,987,644,028

69,516,188,592

72,942,404,851

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

6,609,600,000

1,055,965,393

1,135,162,798

1,220,300,008

1,311,822,508

1,410,209,196

1,515,974,886

1,629,673,003

606,876,663

652,392,413

701,321,843

753,920,982

810,465,055

871,249,935

936,593,680

145,650,399

156,574,179

168,317,242

180,941,036

194,511,613

209,099,984

224,782,483

303,438,331

326,196,206

350,660,922

376,960,491

405,232,528

435,624,967

468,296,840

5,553,634,607

5,474,437,202

5,389,299,992

5,297,777,492

5,199,390,804

5,093,625,114

4,979,926,997

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

1,173,020,043

4,380,614,564

4,301,417,159

4,216,279,949

4,124,757,449

4,026,370,761

3,920,605,071

3,806,906,955

4,380,614,564

4,301,417,159

4,216,279,949

4,124,757,449

4,026,370,761

3,920,605,071

3,806,906,955

438,061,456

430,141,716

421,627,995

412,475,745

402,637,076

392,060,507

380,690,695

3,942,553,107

3,871,275,443

3,794,651,955

3,712,281,704

3,623,733,685

3,528,544,564

3,426,216,259

5,115,573,150

5,044,295,486

4,967,671,997

4,885,301,747

4,796,753,728

4,701,564,607

4,599,236,302

5,115,573,150

5,044,295,486

4,967,671,997

4,885,301,747

4,796,753,728

4,701,564,607

4,599,236,302

41,136,816,265

46,252,389,415

51,296,684,902

56,264,356,899

61,149,658,646

65,946,412,373

70,647,976,980

46,252,389,415

51,296,684,902

56,264,356,899

61,149,658,646

65,946,412,373

70,647,976,980

75,247,213,282

5,115,573,150

5,044,295,486

4,967,671,997

4,885,301,747

4,796,753,728

4,701,564,607

4,599,236,302

67,407,981,841

72,452,277,327

77,419,949,325

82,305,251,072

87,102,004,799

91,803,569,406

96,402,805,708

58

59

60

61

62

63

64

65

66

67

68

69

70

71
72

CAPITAL INVESTMENT LOAN

Monthly
Payment

Beginning Balance

(PMT)

Interest

Principle

Ending Balance

21,155,592,426

430,282,794

238,000,415

192,282,379

20,963,310,047

20,963,310,047

430,282,794

235,837,238

194,445,556

20,768,864,490

20,768,864,490

430,282,794

233,649,726

196,633,069

20,572,231,422

20,572,231,422

430,282,794

231,437,603

198,845,191

20,373,386,231

20,373,386,231

430,282,794

229,200,595

201,082,199

20,172,304,032

20,172,304,032

430,282,794

226,938,420

203,344,374

19,968,959,659

19,968,959,659

430,282,794

224,650,796

205,631,998

19,763,327,661

19,763,327,661

430,282,794

222,337,436

207,945,358

19,555,382,303

19,555,382,303

430,282,794

219,998,051

210,284,743

19,345,097,560

10

19,345,097,560

430,282,794

217,632,348

212,650,447

19,132,447,113

11

19,132,447,113

430,282,794

215,240,030

215,042,764

18,917,404,349

12

18,917,404,349

430,282,794

212,820,799

217,461,995

18,699,942,354

13

18,699,942,354

430,282,794

210,374,351

219,908,443

18,480,033,911

14

18,480,033,911

430,282,794

207,900,382

222,382,413

18,257,651,499

15

18,257,651,499

430,282,794

205,398,579

224,884,215

18,032,767,284

16

18,032,767,284

430,282,794

202,868,632

227,414,162

17,805,353,122

17

17,805,353,122

430,282,794

200,310,223

229,972,571

17,575,380,550

18

17,575,380,550

430,282,794

197,723,031

232,559,763

17,342,820,787

19

17,342,820,787

430,282,794

195,106,734

235,176,060

17,107,644,727

20

17,107,644,727

430,282,794

192,461,003

237,821,791

16,869,822,936

21

16,869,822,936

430,282,794

189,785,508

240,497,286

16,629,325,650

22

16,629,325,650

430,282,794

187,079,914

243,202,881

16,386,122,770

23
24

16,386,122,770
16,140,183,857

430,282,794
430,282,794

184,343,881
181,577,068

245,938,913
248,705,726

16,140,183,857
15,891,478,131

25

15,891,478,131

430,282,794

178,779,129

251,503,665

15,639,974,466

26

15,639,974,466

430,282,794

175,949,713

254,333,081

15,385,641,385

27

15,385,641,385

430,282,794

173,088,466

257,194,329

15,128,447,056

28

15,128,447,056

430,282,794

170,195,029

260,087,765

14,868,359,291

29

14,868,359,291

430,282,794

167,269,042

263,013,752

14,605,345,539

30

14,605,345,539

430,282,794

164,310,137

265,972,657

14,339,372,883

31

14,339,372,883

430,282,794

161,317,945

268,964,849

14,070,408,033

32

14,070,408,033

430,282,794

158,292,090

271,990,704

13,798,417,330

33

13,798,417,330

430,282,794

155,232,195

275,050,599

13,523,366,731

34

13,523,366,731

430,282,794

152,137,876

278,144,918

13,245,221,812

35

13,245,221,812

430,282,794

149,008,745

281,274,049

12,963,947,764

36

12,963,947,764

430,282,794

145,844,412

284,438,382

12,679,509,382

37

12,679,509,382

430,282,794

142,644,481

287,638,314

12,391,871,068

38

12,391,871,068

430,282,794

139,408,550

290,874,245

12,100,996,824

39

12,100,996,824

430,282,794

136,136,214

294,146,580

11,806,850,244

40

11,806,850,244

430,282,794

132,827,065

297,455,729

11,509,394,515

41

11,509,394,515

430,282,794

129,480,688

300,802,106

11,208,592,409

42

11,208,592,409

430,282,794

126,096,665

304,186,129

10,904,406,280

43

10,904,406,280

430,282,794

122,674,571

307,608,223

10,596,798,056

44
45

10,596,798,056
10,285,729,240

430,282,794
430,282,794

119,213,978
115,714,454

311,068,816
314,568,340

10,285,729,240
9,971,160,900

46

9,971,160,900

430,282,794

112,175,560

318,107,234

9,653,053,666

47

9,653,053,666

430,282,794

108,596,854

321,685,940

9,331,367,726

48

9,331,367,726

430,282,794

104,977,887

325,304,907

9,006,062,819

49
50

9,006,062,819
8,677,098,231

430,282,794
430,282,794

101,318,207
97,617,355

328,964,587
332,665,439

8,677,098,231
8,344,432,792

51

8,344,432,792

430,282,794

93,874,869

336,407,925

8,008,024,867

52

8,008,024,867

430,282,794

90,090,280

340,192,514

7,667,832,353

53

7,667,832,353

430,282,794

86,263,114

344,019,680

7,323,812,673

54

7,323,812,673

430,282,794

82,392,893

347,889,902

6,975,922,771

55

6,975,922,771

430,282,794

78,479,131

351,803,663

6,624,119,108

56

6,624,119,108

430,282,794

74,521,340

355,761,454

6,268,357,654

57

6,268,357,654

430,282,794

70,519,024

359,763,770

5,908,593,884

58

5,908,593,884

430,282,794

66,471,681

363,811,113

5,544,782,771

59

5,544,782,771

430,282,794

62,378,806

367,903,988

5,176,878,783

60

5,176,878,783

430,282,794

58,239,886

372,042,908

4,804,835,875

61

4,804,835,875

430,282,794

54,054,404

376,228,390

4,428,607,485

62

4,428,607,485

430,282,794

49,821,834

380,460,960

4,048,146,525

63

4,048,146,525

430,282,794

45,541,648

384,741,146

3,663,405,379

64

3,663,405,379

430,282,794

41,213,311

389,069,484

3,274,335,896

65

3,274,335,896

430,282,794

36,836,279

393,446,515

2,880,889,380

66

2,880,889,380

430,282,794

32,410,006

397,872,789

2,483,016,592

67

2,483,016,592

430,282,794

27,933,937

402,348,857

2,080,667,734

68

2,080,667,734

430,282,794

23,407,512

406,875,282

1,673,792,452

69

1,673,792,452

430,282,794

18,830,165

411,452,629

1,262,339,823

70

1,262,339,823

430,282,794

14,201,323

416,081,471

846,258,352

71
72

846,258,352
425,495,964

430,282,794
430,282,794

9,520,406
4,786,830

420,762,388
425,495,964

425,495,964
0

Loan

Term Of Payment (Year)

1

2,455,650,072

2,808,464,223

3,211,968,749

3,673,446,563

Interest

2,707,743,457

2,354,929,306

1,951,424,780

1,489,946,966

962,166,585

358,557,654

PMT

5,163,393,529

5,163,393,529

5,163,393,529

5,163,393,529

5,163,393,529

5,163,393,529

Construction Cost (EPC)

23,460,400,857

Development Cost (EPC+IDC)

28,193,712,683

Project Investment (EPC+IDC+Interest)

38,018,481,431

Loan For EPC

16,422,280,600

IDC for 2 years Construction

Capital Investment Loan

4,733,311,826
21,155,592,426

4,201,226,944

Principle

4,804,835,875

Total Loan
21,155,592,426
9,824,768,748
30,980,361,174

UNIT ENERGY COST CALCULATION

CAPITAL COSTS
1

Planning and Design

Engineering, Energy Survey, Hydrology Study, Site Survey, Pre-Feasibility
Study Report, Feasibility Study Report, Supervision Fees, Commisioning
Fees, Training Manuals
Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance, Training
For Management
Civil Works

Proportion
of Total Cost
1.37%

Cost
(Rp)
321,407,49

1.37%

321,407,49

50.03%

11,737,238,54

42.18%

9,895,597,08

1.37%

321,407,49

0.00%
3.68%
100.00%
:

863,342,75
23,460,400,85
4,733,311,8

28,193,712,68

Pekerjaan Persiapan, Bendung dan Intake, Kolam Penagkap Pasir (Desand Trap), Saluran Pembawa (Water Way), Kolam Penenang & Pelimpah,
Pipa Pesat (Penstock), Gedung Sentral, Saluran Pembuang, Jalan
masuk/jembatan/gorong-gorong, Kantor & Rm Operator & perlengkapan
4

Electro - Mechanical
Turbin, Governor, Generator, MIV, Transformator Utama, Transformator
pemakaian sendiri, MV Switchgear 20 kV dan 7.2 kV, Kabel Tenaga, dll

Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and Domestic
Connections
Appliances
6
Contingency
7
CAPITAL COST : Engineering Procurement and Construction (EPC) Cost =
IDC = Interest During Construction from construction period
5

interest rate =
equtiy =
Debt =
Grace period =

14%
30%
70%
2

annual
from capital
=
7,038,120,257
from capital
=
16,422,280,600
year Equal to construction period

CAPITAL COST : Project Development

EPC + IDC

RUNNING COSTS
Fixed Annual Operational & Maintenance Costs
Labour for wages (O&M staff), Management Committee (O&M), Specialist
Overhaul, Maintenance, Other
2
Variable Running Costs
O&M Staff Recruitment, initial O&M Training 5-yearly O&M Training
Refresher, Spare Parts, Tools, Materials, Specialist Advice, Repalcement
Equipment, Other
Water Cost (Water Rental & Retribution)
3
Contingency
4
Estimated total yearly running cost (O&M)
Capital Cost Project Investment expressed as an annual (Cannual)
Cannual + (O&M)
=
Total Annual Cost
=
Calculation of Unit Energy Cost:
1

10.0%

237,022,9

5.0%

118,511,4

2.4%
2.4%
19.8%
80.2%
100%

56,885,5
56,885,5
469,305,4
1,900,924,0
2,370,229,5

Capacity Factor
Capacity Installed
Term of Payment
Depreciation period
Unit Energy Cost

:
:
:
:
:

85.00%
1,000
6
20
323

Annual Running Costs

Component A
: Recovery Cost
Component B
: O&M Fixed Cost
Component C
: Water Cost
Component D
: O&M Variable Cost
Contingency
Unit Energy Cost

kW
year
year

Rp/kWh

Equal to energy sales contract terms

=
=
=
=
=
=

259
32
8
16
8
323

Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

Operasional Cost
64
+

Cost
(Rp)
321,407,492

321,407,492

11,737,238,549

9,895,597,081

321,407,492

0
863,342,752
23,460,400,857
4,733,311,826

28,193,712,683

237,022,952

118,511,476

56,885,508
56,885,508
469,305,444
1,900,924,072
2,370,229,516

Operasional Cost
Rp/kWh

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

16,422,280,600
4,733,311,826
21,155,592,426

Construction Cost (EPC)

Development Cost (EPC+IDC)
Project Investment (EPC+IDC+Interest)

23,460,400,857
28,193,712,683
38,018,481,431

RECAPITULATION OF CAPITAL COST

SCOPE OF WORKS
1 Planning and Design

Proportion of
Total Cost
1.37%

Cost
(Rp)
321,407,492

1.37%

321,407,492

50.03%
2.73%
5.50%
2.80%
10.89%
3.50%
17.70%
2.80%
0.69%
2.73%
0.69%
42.18%
21.77%

11,737,238,549
640,468,943
1,290,322,047
656,891,224
2,554,837,653
821,114,030
4,152,490,952
656,891,224
161,876,766
640,468,943
161,876,766
9,895,597,081
5,107,329,267

20.41%

4,788,267,815

1.37%

321,407,492

0.00%
3.68%
100.00%

0
863,342,752
23,460,400,857

Engineering, Energy Survey, Hydrology Study, Site Survey, PreFeasibility Study Report, Feasibility Study Report, Supervision Fees,
Commisioning Fees, Training Manuals
2 Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance,
Training For Management
3 Civil Works
3.1 Pekerjaan Persiapan (Access Road)
3.2 Bendung dan Intake
3.3 Kolam Penagkap Pasir (De-sand Trap)
3.4 Saluran Pembawa / Water Way
3.5 Kolam Penenang & Pelimpah
3.6 Pipa Pesat
3.7 Gedung Sentral
3.8 Saluran Pembuang
3.9 Jalan masuk/jembatan/gorong-gorong
3.10 Kantor & Rm Operator & perlengkapan
4 Electro - Mechanical
4.1 Mechanical
Turbin, Governor, Inlet Valve, Assembly Joint.
4.2 Electrical
Generator, Trafo, Panel Control, Switch Gear, Trafo
Pemakaian Sendiri.
5 Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and
Domestic Connections
6 Appliances
7 Contingency
TOTAL CAPITAL COST

START UP BUDGET PLAN OF CIVIL WORKS

SCOPE OF CIVIL WORKS
1

Pekerjaan Persiapan
1.1 Jalan Proyek (Access Road)
1.2 Fasilitas Kontruksi
Pekerjaan Bendung dan Intake
2.1 Bangunan Pengelak
2.2 Galian
2.3 Pemasangan batu kali 1 : 4
2.4 Pasangan Beton Cor 1 : 2 : 3
2.5 Penulangan Besi Beton
2.6 Pekerjaan Pintu Pengurang Bend
2.7 Pekerjaan Pintu Pengambilan
2.8 Pekerjaan Pembuatan Saringan
2.9 Biaya Lain-lain / tak terduga
Pekerjaan De-sand Trap
3.1 Galian
3.2 Pasangan Batu Kali 1:4
3.3 Pasangan Beton Cor 1:2:3
3.4 Pekerjaan Pintu Kuras Pasir
3.5 Biaya Lain-lain / tak terduga
Pekerjaan Saluran Pembawa
4.1 Galian
4.2 Pasangan Batu Kali 1:4
4.3 Pasangan Beton Cor 1:2:3
4.4 Gorong-gorong
4.5 Jembatan
4.6 Biaya Lain-lain / tak terduga
Pekerjaan Bak Penenang
5.1 Galian
5.2 Pasangan Batu Kali 1:4
5.3 Pasangan Beton Cor 1:2:3
5.4 Penulangan Besi Beton
5.5 Pembuatan Pintu Kuras
5.6 Pembuatan Pintu Air Masuk Pp
5.7 Pembuatann Tangga Turun
5.8 Pekerjaan Saluran Penguras
5.9 Pekerjaan Bangunan Pelimpah
5.10 Biaya Lain-lain / tak terduga
Pekerjaan Pipa Pesat (Penstock)
6.1 Galian
6.2 Pasangan Batu Kali 1:4
6.3 Pasangan Beton Cor 1:2:3
6.4 Penulangan Besi Beton
6.5 Pipa Pesat / Penstok & Las
6.6 Angker Blok
6.7 Sadel Pipa Pesat & Packing
6.8 Sand Blasting

Unit Price
Price (Rp)
per Unit

Total
Unit

289,504,761
513,212,985

ls
ls

1
1

960,000
260,000
560,000
1,450,000
850,000
29,470,611
44,205,917
50,521,048
126,302,620

m3
m3
m3
m3
kg
set
set
set
ls

395
2,429
1,353
174
178
3
2
1
1

260,000
560,000
1,450,000
30,779,209
51,298,681

m3
m3
m3
set
ls

1,184
769
142
1
1

260,000
560,000
1,450,000
925,000
1,645,000
117,146,621

m3
m3
m3
m'
m'
ls

3,605
1,297
242
51
100
1

260,000
560,000
1,450,000
850,000
18,964,207
56,892,620
9,482,103
560,000
560,000
47,410,517

m3
m3
m3
kg
set
set
set
m'
m'
ls

1,167
339
65
89
1
1
1
152
119
1

260,000
560,000
1,450,000
850,000
939,024
486,080,000
220,948,060
92,061,692

m
m
m
kg
m'
m'
set
ls

496
197
165
173
451
0.11
1
1

6.9 Pengecatan Pipa Pesat

6.10 Pembuatan Saringan Pada PP
6.11 Bifurcation
6.12 Sabuk Pipa Pesat
6.13 Biaya Lain-lain / tak terduga
7 Pekerjaan Gedung Sentral PLTM
7.1 Galian
7.2 Pasangan Batu Kali 1:4
7.3 Pasangan Beton Cor 1:2:3
7.4 Kontruksi Baja H-Beam
7.5 Kontruksi Beton
7.6 Kontruksi Atap Baja Ringan
7.7 Alat Angkat (crane) +/- 20 t
7.8 Saluran Kabel
7.9 Saluran Buang (De-watering)
7.10 Tangga besi/beton
7.11 Pengecatan
7.12 Biaya Lain-lain
8 Saluran Pembuang
8.1 Galian
8.2 Pasangan Batu Kali 1:4
8.3 Pasangan Beton Cor 1:2:3
8.4 Biaya Lain-lain
9 Jalan Masuk / Access Road
9.1 Pekerjaan Jembatan
9.2 Pekerjaan Gorong-gorong
9.3 Biaya Lain-Lain
10 Rumah Operator & Kantor
9.1 Rumah Operator
9.2 Kantor & Perlengkapan
9.3 Biaya Lain-lain
TOTAL COST OF CIVIL WORKS

73,649,353
36,824,677
184,123,383
36,824,677
92,061,692

ls
set
set
set
ls

1
1
1
1
1

260,000
560,000
1,450,000
1,650,000
1,450,000
726,000
55,939,393
154,665,000
103,110,000
11,187,879
11,187,879
55,939,393

m
m
m
kg
m
kg
set
m
m
set
ls
ls

645
240
131
136
100
92
1
0.22
0.22
1
1
1

260,000
560,000
1,450,000
21,698,464

m3
m3
m3
ls

634
271
66
1

2,300,000
1,200,000
23,705,258

m'
m'
ls

113
158
1.00

2,200,000
89,302,349
11,162,794

m2
ls
ls

55.81
1.00
1.00

IL WORKS
Indeks = 1
Proportion
Cost (Rp)
of Total Cost
802,717,746
6.84%
289,504,761
2.47%
513,212,985
4.37%
2,526,052,408
21.52%
378,907,861
3.23%
631,513,102
5.38%
757,815,723
6.46%
252,605,241
2.15%
151,563,145
1.29%
88,411,834
0.75%
88,411,834
0.75%
50,521,048
0.43%
126,302,620
1.08%
1,025,973,620
8.74%
307,792,086
2.62%
430,908,920
3.67%
205,194,724
1.75%
30,779,209
0.26%
51,298,681
0.44%
2,342,932,422
19.96%
937,172,969
7.98%
726,309,051
6.19%
351,439,863
2.99%
46,858,648
0.40%
164,005,270
1.40%
117,146,621
1.00%
948,210,338
8.08%
303,427,308
2.59%
189,642,068
1.62%
94,821,034
0.81%
75,856,827
0.65%
18,964,207
0.16%
56,892,620
0.48%
9,482,103
0.08%
85,338,930
0.73%
66,374,724
0.57%
47,410,517
0.40%
1,841,233,831
15.69%
128,886,368
1.10%
110,474,030
0.94%
239,360,398
2.04%
147,298,706
1.25%
423,483,781
3.61%
55,237,015
0.47%
220,948,060
1.88%
92,061,692
0.78%

73,649,353
36,824,677
184,123,383
36,824,677
92,061,692
1,118,787,859
167,818,179
134,254,543
190,193,936
223,757,572
145,442,422
67,127,272
55,939,393
33,563,636
22,375,757
11,187,879
11,187,879
55,939,393
433,969,282
164,908,327
151,889,249
95,473,242
21,698,464
474,105,169
260,757,843
189,642,068
23,705,258
223,255,873
122,790,730
89,302,349
11,162,794

0.63%
0.31%
1.57%
0.31%
0.78%
9.53%
1.43%
1.14%
1.62%
1.91%
1.24%
0.57%
0.48%
0.29%
0.19%
0.10%
0.10%
0.48%
3.70%
1.41%
1.29%
0.81%
0.18%
4.04%
2.22%
1.62%
0.20%
1.90%
1.05%
0.76%
0.10%

11,737,238,549

100%

ASUMSI PERHITUNGAN
ASSUMPTION IN THE PROJECT
1 Project Overview
Capacity Installed
Capital Cost : Engineering Procurement and Construction (EPC)
Capacity Factor (CF)
Annual Energy Production
Grace Period (Construction Period)
Depreciation period (based on terms of contract of energy selling)
Energy Selling Price
Annual Operational Cost per kWh
- O&M Fixed Cost
- Water Cost & Retribution
- O&M Variable Cost
2 Economic Assumption
Annual Inflasi Rate
Interest Rate [r]
Foreign Currency Rp/USD
Riskfree Rate (Rf)
Market Return (Rm)
Beta Sector ()
3 Fund Scheme
Equity Ratio
Debt Ratio
Required Rate of Return
Weighted Average Cost of Capital (WACC)
Term of payment

1,000
22,080,377
22,080,377,278
80%
6,912,000
2
20
900
56
32
8
16

kW
Rp/kW
Rp
(annual)
kWh
year
year
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

7.5% per year

13.5% (annual)
9,000 Rp/USD
0.13
0.18
1.06
30%
70%
18.30%
14.94%
6

(capital)
(capital)
(CAPM)
year

PROYEKSI ANALISA KEUANGAN

BALANCE SHEETS
AKTIVA
-

Aktiva Tetap

Aktiva Lain

EKUITAS & KEWAJIBAN

Ekuitas
-

Modal Saham

Saldo Laba

Kewajiban
-

Hutang Jangka Panjang

INCOME STATEMENT
REVENUE
-

Penjualan energi listrik ke PLN

EXPENSE
-

O&M Fixed Cost

Water Cost and Retribution

O&M Variable Cost

Earnings Before Interest Depreciation Amortization and Taxes (EBITDA)

Depresiasi
Earnings Before Interest and Taxes (EBIT)
Interest
Earnings Before Taxes (EBT)
Taxes
Earnings After Taxes (EAT)
CASH FLOW STATEMENT
ALIRAN KAS MASUK
-

Modal Mandiri (Equity)

Modal Pinjaman (Loan+IDC)

Pendapatan Usaha (EAT+Depresiasi)

ALIRAN KAS KELUAR

-

Development Cost (EPC+IDC)

Angsuran Pokok (Principle)

KAS AWAL
KAS AKHIR
OUTPUT OF FINANCIAL ANALYSIS
Net Present Value (NPV)

Internal Rate of Return (IRR)

0
14.94% > WACC =

14.94%

Aliran Kas

Payback Period (PP)

6.57 tahun

Laba Ditahan :

ANALISA FINANSI
Construction Period
0

35,782,100,171

35,433,041,193

35,024,575,381

34,549,966,818

34,001,646,753

33,371,104,074

32,648,760,788

22,080,377,278

20,976,358,414

19,872,339,550

18,768,320,686

17,664,301,822

16,560,282,958

15,456,264,094

13,701,722,894

14,456,682,780

15,152,235,832

15,781,646,132

16,337,344,931

16,810,821,116

17,192,496,694

35,782,100,171

35,433,041,193

35,024,575,381

34,549,966,818

34,001,646,753

33,371,104,074

32,648,760,788

6,624,113,183

8,586,254,273

10,821,048,906

13,369,469,754

16,278,511,160

19,602,064,428

23,401,919,613

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

1,962,141,090

4,196,935,723

6,745,356,570

9,654,397,977

12,977,951,245

16,777,806,430

29,157,986,988

26,846,786,920

24,203,526,475

21,180,497,064

17,723,135,593

13,769,039,646

9,246,841,175

29,157,986,988

26,846,786,920

24,203,526,475

21,180,497,064

17,723,135,593

13,769,039,646

9,246,841,175

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

388,159,940

417,271,935

448,567,330

482,209,880

518,375,621

557,253,792

223,080,425

239,811,457

257,797,316

277,132,115

297,917,023

320,260,800

53,539,302

57,554,750

61,871,356

66,511,708

71,500,086

76,862,592

111,540,213

119,905,728

128,898,658

138,566,057

148,958,512

160,130,400

5,832,640,060

5,803,528,065

5,772,232,670

5,738,590,120

5,702,424,379

5,663,546,208

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

4,728,621,197

4,699,509,201

4,668,213,806

4,634,571,256

4,598,405,515

4,559,527,344

2,548,464,430

2,216,404,053

1,836,635,087

1,402,303,027

905,568,551

337,466,027

2,180,156,766

2,483,105,148

2,831,578,719

3,232,268,229

3,692,836,964

4,222,061,317

218,015,677

248,310,515

283,157,872

323,226,823

369,283,696

422,206,132

1,962,141,090

2,234,794,633

2,548,420,847

2,909,041,406

3,323,553,268

3,799,855,185

26,535,258,996

3,066,159,954

3,338,813,497

3,652,439,711

4,013,060,270

4,427,572,132

4,903,874,049

6,624,113,183

19,911,145,813

3,066,159,954

3,338,813,497

3,652,439,711

4,013,060,270

4,427,572,132

4,903,874,049

26,535,258,996

2,311,200,068

2,643,260,445

3,023,029,411

3,457,361,471

3,954,095,947

4,522,198,471

26,535,258,996

2,311,200,068

2,643,260,445

3,023,029,411

3,457,361,471

3,954,095,947

4,522,198,471

754,959,886

1,450,512,938

2,079,923,238

2,635,622,037

3,109,098,222

754,959,886

1,450,512,938

2,079,923,238

2,635,622,037

3,109,098,222

3,490,773,800

(26,535,258,996)

3,066,159,954

3,338,813,497

3,652,439,711

4,013,060,270

4,427,572,132

4,903,874,049

3,066,159,954

6,404,973,451

10,057,413,162

14,070,473,432

18,498,045,564

23,401,919,613

ANALISA FINANSIAL
TAHUN
7

10

11

12

13

27,467,879,591

31,493,403,841

35,475,459,683

39,410,786,987

43,295,881,112

47,126,974,569

14,352,245,230

13,248,226,367

12,144,207,503

11,040,188,639

9,936,169,775

8,832,150,911

50,900,017,309
7,728,132,047

13,115,634,361

18,245,177,475

23,331,252,181

28,370,598,348

33,359,711,337

38,294,823,658

43,171,885,262

27,467,879,591

31,493,403,841

35,475,459,683

39,410,786,987

43,295,881,112

47,126,974,569

50,900,017,309

27,467,879,591

31,493,403,841

35,475,459,683

39,410,786,987

43,295,881,112

47,126,974,569

50,900,017,309

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

20,843,766,408

24,869,290,658

28,851,346,500

32,786,673,804

36,671,767,928

40,502,861,386

44,275,904,126

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

599,047,827

643,976,414

692,274,645

744,195,243

800,009,887

860,010,628

924,511,425

344,280,360

370,101,387

397,858,991

427,698,416

459,775,797

494,258,982

531,328,405

82,627,286

88,824,333

95,486,158

102,647,620

110,346,191

118,622,156

127,518,817

172,140,180

185,050,694

198,929,496

213,849,208

229,887,898

247,129,491

265,664,203

5,621,752,173

5,576,823,586

5,528,525,355

5,476,604,757

5,420,790,113

5,360,789,372

5,296,288,575

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

4,517,733,309

4,472,804,722

4,424,506,491

4,372,585,893

4,316,771,250

4,256,770,508

4,192,269,711

4,517,733,309

4,472,804,722

4,424,506,491

4,372,585,893

4,316,771,250

4,256,770,508

4,192,269,711

451,773,331

447,280,472

442,450,649

437,258,589

431,677,125

425,677,051

419,226,971

4,065,959,978

4,025,524,250

3,982,055,842

3,935,327,304

3,885,094,125

3,831,093,457

3,773,042,740

5,169,978,842

5,129,543,114

5,086,074,706

5,039,346,167

4,989,112,989

4,935,112,321

4,877,061,604

5,169,978,842

5,129,543,114

5,086,074,706

5,039,346,167

4,989,112,989

4,935,112,321

4,877,061,604

3,490,773,800

8,660,752,642

13,790,295,756

18,876,370,462

23,915,716,630

28,904,829,618

33,839,941,939

8,660,752,642

13,790,295,756

18,876,370,462

23,915,716,630

28,904,829,618

33,839,941,939

38,717,003,543

5,169,978,842

5,129,543,114

5,086,074,706

5,039,346,167

4,989,112,989

4,935,112,321

4,877,061,604

28,571,898,455

33,701,441,569

38,787,516,275

43,826,862,442
Payback !

48,815,975,431

53,751,087,752

58,628,149,356

14

15

16

17

18

19

20

54,610,655,528

58,254,208,886

61,825,646,020

65,319,558,212

68,730,131,091

72,051,114,210

6,624,113,183

5,520,094,319

4,416,075,456

3,312,056,592

2,208,037,728

1,104,018,864

75,275,788,337
(0)

47,986,542,344

52,734,114,567

57,409,570,564

62,007,501,620

66,522,093,364

70,947,095,346

75,275,788,337

54,610,655,528

58,254,208,886

61,825,646,020

65,319,558,212

68,730,131,091

72,051,114,210

75,275,788,337

54,610,655,528

58,254,208,886

61,825,646,020

65,319,558,212

68,730,131,091

72,051,114,210

75,275,788,337

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

6,624,113,183

47,986,542,344

51,630,095,703

55,201,532,836

58,695,445,028

62,106,017,908

65,427,001,027

68,651,675,153

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

6,220,800,000

993,849,782

1,068,388,516

1,148,517,654

1,234,656,478

1,327,255,714

1,426,799,893

1,533,809,885

571,178,036

614,016,388

660,067,617

709,572,689

762,790,640

819,999,938

881,499,934

137,082,729

147,363,933

158,416,228

170,297,445

183,069,754

196,799,985

211,559,984

285,589,018

307,008,194

330,033,809

354,786,344

381,395,320

409,999,969

440,749,967

5,226,950,218

5,152,411,484

5,072,282,346

4,986,143,522

4,893,544,286

4,794,000,107

4,686,990,115

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

1,104,018,864

4,122,931,354

4,048,392,621

3,968,263,482

3,882,124,658

3,789,525,422

3,689,981,243

3,582,971,251

4,122,931,354

4,048,392,621

3,968,263,482

3,882,124,658

3,789,525,422

3,689,981,243

3,582,971,251

412,293,135

404,839,262

396,826,348

388,212,466

378,952,542

368,998,124

358,297,125

3,710,638,219

3,643,553,358

3,571,437,134

3,493,912,192

3,410,572,880

3,320,983,119

3,224,674,126

4,814,657,083

4,747,572,222

4,675,455,998

4,597,931,056

4,514,591,744

4,425,001,983

4,328,692,990

4,814,657,083

4,747,572,222

4,675,455,998

4,597,931,056

4,514,591,744

4,425,001,983

4,328,692,990

38,717,003,543

43,531,660,626

48,279,232,848

52,954,688,846

57,552,619,901

62,067,211,645

66,492,213,628

43,531,660,626

48,279,232,848

52,954,688,846

57,552,619,901

62,067,211,645

66,492,213,628

70,820,906,618

4,814,657,083

4,747,572,222

4,675,455,998

4,597,931,056

4,514,591,744

4,425,001,983

4,328,692,990

63,442,806,439

68,190,378,661

72,865,834,658

77,463,765,714

81,978,357,458

86,403,359,441

90,732,052,431

58

59

60

61

62

63

64

65

66

67

68

69

70

71
72

CAPITAL INVESTMENT LOAN

Monthly
Payment

Beginning Balance

(PMT)

Interest

Principle

Ending Balance

19,911,145,813

404,972,041

224,000,390

180,971,651

19,730,174,162

19,730,174,162

404,972,041

221,964,459

183,007,582

19,547,166,580

19,547,166,580

404,972,041

219,905,624

185,066,417

19,362,100,162

19,362,100,162

404,972,041

217,823,627

187,148,415

19,174,951,747

19,174,951,747

404,972,041

215,718,207

189,253,834

18,985,697,913

18,985,697,913

404,972,041

213,589,102

191,382,940

18,794,314,973

18,794,314,973

404,972,041

211,436,043

193,535,998

18,600,778,975

18,600,778,975

404,972,041

209,258,763

195,713,278

18,405,065,697

18,405,065,697

404,972,041

207,056,989

197,915,052

18,207,150,645

10

18,207,150,645

404,972,041

204,830,445

200,141,597

18,007,009,048

11

18,007,009,048

404,972,041

202,578,852

202,393,190

17,804,615,858

12

17,804,615,858

404,972,041

200,301,928

204,670,113

17,599,945,745

13

17,599,945,745

404,972,041

197,999,390

206,972,652

17,392,973,093

14

17,392,973,093

404,972,041

195,670,947

209,301,094

17,183,671,999

15

17,183,671,999

404,972,041

193,316,310

211,655,732

16,972,016,267

16

16,972,016,267

404,972,041

190,935,183

214,036,858

16,757,979,409

17

16,757,979,409

404,972,041

188,527,268

216,444,773

16,541,534,636

18

16,541,534,636

404,972,041

186,092,265

218,879,777

16,322,654,859

19

16,322,654,859

404,972,041

183,629,867

221,342,174

16,101,312,685

20

16,101,312,685

404,972,041

181,139,768

223,832,274

15,877,480,411

21

15,877,480,411

404,972,041

178,621,655

226,350,387

15,651,130,024

22

15,651,130,024

404,972,041

176,075,213

228,896,829

15,422,233,195

23
24

15,422,233,195
15,190,761,277

404,972,041
404,972,041

173,500,123
170,896,064

231,471,918
234,075,977

15,190,761,277
14,956,685,300

25

14,956,685,300

404,972,041

168,262,710

236,709,332

14,719,975,968

26

14,719,975,968

404,972,041

165,599,730

239,372,312

14,480,603,656

27

14,480,603,656

404,972,041

162,906,791

242,065,250

14,238,538,406

28

14,238,538,406

404,972,041

160,183,557

244,788,484

13,993,749,922

29

13,993,749,922

404,972,041

157,429,687

247,542,355

13,746,207,567

30

13,746,207,567

404,972,041

154,644,835

250,327,206

13,495,880,360

31

13,495,880,360

404,972,041

151,828,654

253,143,387

13,242,736,973

32

13,242,736,973

404,972,041

148,980,791

255,991,251

12,986,745,722

33

12,986,745,722

404,972,041

146,100,889

258,871,152

12,727,874,570

34

12,727,874,570

404,972,041

143,188,589

261,783,453

12,466,091,118

35

12,466,091,118

404,972,041

140,243,525

264,728,516

12,201,362,601

36

12,201,362,601

404,972,041

137,265,329

267,706,712

11,933,655,889

37

11,933,655,889

404,972,041

134,253,629

270,718,413

11,662,937,476

38

11,662,937,476

404,972,041

131,208,047

273,763,995

11,389,173,481

39

11,389,173,481

404,972,041

128,128,202

276,843,840

11,112,329,641

40

11,112,329,641

404,972,041

125,013,708

279,958,333

10,832,371,308

41

10,832,371,308

404,972,041

121,864,177

283,107,864

10,549,263,444

42

10,549,263,444

404,972,041

118,679,214

286,292,828

10,262,970,616

43

10,262,970,616

404,972,041

115,458,419

289,513,622

9,973,456,994

44
45

9,973,456,994
9,680,686,344

404,972,041
404,972,041

112,201,391
108,907,721

292,770,650
296,064,320

9,680,686,344
9,384,622,024

46

9,384,622,024

404,972,041

105,576,998

299,395,044

9,085,226,980

47

9,085,226,980

404,972,041

102,208,804

302,763,238

8,782,463,742

48

8,782,463,742

404,972,041

98,802,717

306,169,324

8,476,294,418

49
50

8,476,294,418
8,166,680,688

404,972,041
404,972,041

95,358,312
91,875,158

309,613,729
313,096,884

8,166,680,688
7,853,583,805

51

7,853,583,805

404,972,041

88,352,818

316,619,224

7,536,964,581

52

7,536,964,581

404,972,041

84,790,852

320,181,190

7,216,783,391

53

7,216,783,391

404,972,041

81,188,813

323,783,228

6,893,000,163

54

6,893,000,163

404,972,041

77,546,252

327,425,790

6,565,574,373

55

6,565,574,373

404,972,041

73,862,712

331,109,330

6,234,465,043

56

6,234,465,043

404,972,041

70,137,732

334,834,310

5,899,630,733

57

5,899,630,733

404,972,041

66,370,846

338,601,196

5,561,029,538

58

5,561,029,538

404,972,041

62,561,582

342,410,459

5,218,619,079

59

5,218,619,079

404,972,041

58,709,465

346,262,577

4,872,356,502

60

4,872,356,502

404,972,041

54,814,011

350,158,031

4,522,198,471

61

4,522,198,471

404,972,041

50,874,733

354,097,309

4,168,101,162

62

4,168,101,162

404,972,041

46,891,138

358,080,903

3,810,020,259

63

3,810,020,259

404,972,041

42,862,728

362,109,314

3,447,910,945

64

3,447,910,945

404,972,041

38,788,998

366,183,043

3,081,727,902

65

3,081,727,902

404,972,041

34,669,439

370,302,603

2,711,425,299

66

2,711,425,299

404,972,041

30,503,535

374,468,507

2,336,956,792

67

2,336,956,792

404,972,041

26,290,764

378,681,278

1,958,275,515

68

1,958,275,515

404,972,041

22,030,600

382,941,442

1,575,334,073

69

1,575,334,073

404,972,041

17,722,508

387,249,533

1,188,084,539

70

1,188,084,539

404,972,041

13,365,951

391,606,090

796,478,449

71
72

796,478,449
400,466,790

404,972,041
404,972,041

8,960,383
4,505,251

396,011,659
400,466,790

400,466,790
0

Loan

Term Of Payment (Year)

1

2,311,200,068

2,643,260,445

3,023,029,411

3,457,361,471

Interest

2,548,464,430

2,216,404,053

1,836,635,087

1,402,303,027

905,568,551

337,466,027

PMT

4,859,664,498

4,859,664,498

4,859,664,498

4,859,664,498

4,859,664,498

4,859,664,498

Construction Cost (EPC)

22,080,377,278

Development Cost (EPC+IDC)

26,535,258,996

Project Investment (EPC+IDC+Interest)

35,782,100,171

Loan For EPC

15,456,264,094

IDC for 2 years Construction

Capital Investment Loan

4,454,881,719
19,911,145,813

3,954,095,947

Principle

4,522,198,471

Total Loan
19,911,145,813
9,246,841,175
29,157,986,988

UNIT ENERGY COST CALCULATION

CAPITAL COSTS
1

Planning and Design

Engineering, Energy Survey, Hydrology Study, Site Survey, Pre-Feasibility
Study Report, Feasibility Study Report, Supervision Fees, Commisioning
Fees, Training Manuals
Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance, Training
For Management
Civil Works

Proportion
of Total Cost
1.37%

Cost
(Rp)
302,501,16

1.37%

302,501,16

50.03%

11,046,812,75

42.18%

9,313,503,13

1.37%

302,501,16

0.00%
3.68%
100.00%
:

812,557,88
22,080,377,27
4,454,881,7

26,535,258,99

Pekerjaan Persiapan, Bendung dan Intake, Kolam Penagkap Pasir (Desand Trap), Saluran Pembawa (Water Way), Kolam Penenang & Pelimpah,
Pipa Pesat (Penstock), Gedung Sentral, Saluran Pembuang, Jalan
masuk/jembatan/gorong-gorong, Kantor & Rm Operator & perlengkapan
4

Electro - Mechanical
Turbin, Governor, Generator, MIV, Transformator Utama, Transformator
pemakaian sendiri, MV Switchgear 20 kV dan 7.2 kV, Kabel Tenaga, dll

Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and Domestic
Connections
Appliances
6
Contingency
7
CAPITAL COST : Engineering Procurement and Construction (EPC) Cost =
IDC = Interest During Construction from construction period
5

interest rate =
equtiy =
Debt =
Grace period =

14%
30%
70%
2

annual
from capital
=
6,624,113,183
from capital
=
15,456,264,094
year Equal to construction period

CAPITAL COST : Project Development

EPC + IDC

RUNNING COSTS
Fixed Annual Operational & Maintenance Costs
Labour for wages (O&M staff), Management Committee (O&M), Specialist
Overhaul, Maintenance, Other
2
Variable Running Costs
O&M Staff Recruitment, initial O&M Training 5-yearly O&M Training
Refresher, Spare Parts, Tools, Materials, Specialist Advice, Repalcement
Equipment, Other
Water Cost (Water Rental & Retribution)
3
Contingency
4
Estimated total yearly running cost (O&M)
Capital Cost Project Investment expressed as an annual (Cannual)
Cannual + (O&M)
=
Total Annual Cost
=
Calculation of Unit Energy Cost:
1

10.0%

223,080,4

5.0%

111,540,2

2.4%
2.4%
19.8%
80.2%
100%

53,539,3
53,539,3
441,699,2
1,789,105,0
2,230,804,2

Capacity Factor
Capacity Installed
Term of Payment
Depreciation period
Unit Energy Cost

:
:
:
:
:

80.00%
1,000
6
20
323

Annual Running Costs

Component A
: Recovery Cost
Component B
: O&M Fixed Cost
Component C
: Water Cost
Component D
: O&M Variable Cost
Contingency
Unit Energy Cost

kW
year
year

Rp/kWh

Equal to energy sales contract terms

=
=
=
=
=
=

259
32
8
16
8
323

Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

Operasional Cost
64
+

Cost
(Rp)
302,501,169

302,501,169

11,046,812,752

9,313,503,136

302,501,169

0
812,557,884
22,080,377,278
4,454,881,719

26,535,258,996

223,080,425

111,540,213

53,539,302
53,539,302
441,699,242
1,789,105,009
2,230,804,250

Operasional Cost
Rp/kWh

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

15,456,264,094
4,454,881,719
19,911,145,813

Construction Cost (EPC)

Development Cost (EPC+IDC)
Project Investment (EPC+IDC+Interest)

22,080,377,278
26,535,258,996
35,782,100,171

RECAPITULATION OF CAPITAL COST

SCOPE OF WORKS
1 Planning and Design

Proportion of
Total Cost
1.37%

Cost
(Rp)
302,501,169

1.37%

302,501,169

50.03%
2.73%
5.50%
2.80%
10.89%
3.50%
17.70%
2.80%
0.69%
2.73%
0.69%
42.18%
21.77%

11,046,812,752
602,794,300
1,214,420,750
618,250,564
2,404,553,086
772,813,205
3,908,226,778
618,250,564
152,354,603
602,794,300
152,354,603
9,313,503,136
4,806,898,133

20.41%

4,506,605,002

1.37%

302,501,169

0.00%
3.68%
100.00%

0
812,557,884
22,080,377,278

Engineering, Energy Survey, Hydrology Study, Site Survey, PreFeasibility Study Report, Feasibility Study Report, Supervision Fees,
Commisioning Fees, Training Manuals
2 Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance,
Training For Management
3 Civil Works
3.1 Pekerjaan Persiapan (Access Road)
3.2 Bendung dan Intake
3.3 Kolam Penagkap Pasir (De-sand Trap)
3.4 Saluran Pembawa / Water Way
3.5 Kolam Penenang & Pelimpah
3.6 Pipa Pesat
3.7 Gedung Sentral
3.8 Saluran Pembuang
3.9 Jalan masuk/jembatan/gorong-gorong
3.10 Kantor & Rm Operator & perlengkapan
4 Electro - Mechanical
4.1 Mechanical
Turbin, Governor, Inlet Valve, Assembly Joint.
4.2 Electrical
Generator, Trafo, Panel Control, Switch Gear, Trafo
Pemakaian Sendiri.
5 Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and
Domestic Connections
6 Appliances
7 Contingency
TOTAL CAPITAL COST

START UP BUDGET PLAN OF CIVIL WORKS

SCOPE OF CIVIL WORKS
1

Pekerjaan Persiapan
1.1 Jalan Proyek (Access Road)
1.2 Fasilitas Kontruksi
Pekerjaan Bendung dan Intake
2.1 Bangunan Pengelak
2.2 Galian
2.3 Pemasangan batu kali 1 : 4
2.4 Pasangan Beton Cor 1 : 2 : 3
2.5 Penulangan Besi Beton
2.6 Pekerjaan Pintu Pengurang Bend
2.7 Pekerjaan Pintu Pengambilan
2.8 Pekerjaan Pembuatan Saringan
2.9 Biaya Lain-lain / tak terduga
Pekerjaan De-sand Trap
3.1 Galian
3.2 Pasangan Batu Kali 1:4
3.3 Pasangan Beton Cor 1:2:3
3.4 Pekerjaan Pintu Kuras Pasir
3.5 Biaya Lain-lain / tak terduga
Pekerjaan Saluran Pembawa
4.1 Galian
4.2 Pasangan Batu Kali 1:4
4.3 Pasangan Beton Cor 1:2:3
4.4 Gorong-gorong
4.5 Jembatan
4.6 Biaya Lain-lain / tak terduga
Pekerjaan Bak Penenang
5.1 Galian
5.2 Pasangan Batu Kali 1:4
5.3 Pasangan Beton Cor 1:2:3
5.4 Penulangan Besi Beton
5.5 Pembuatan Pintu Kuras
5.6 Pembuatan Pintu Air Masuk Pp
5.7 Pembuatann Tangga Turun
5.8 Pekerjaan Saluran Penguras
5.9 Pekerjaan Bangunan Pelimpah
5.10 Biaya Lain-lain / tak terduga
Pekerjaan Pipa Pesat (Penstock)
6.1 Galian
6.2 Pasangan Batu Kali 1:4
6.3 Pasangan Beton Cor 1:2:3
6.4 Penulangan Besi Beton
6.5 Pipa Pesat / Penstok & Las
6.6 Angker Blok
6.7 Sadel Pipa Pesat & Packing
6.8 Sand Blasting

Unit Price
Price (Rp)
per Unit

Total
Unit

272,475,069
483,023,986

ls
ls

1
1

960,000
260,000
560,000
1,450,000
850,000
27,737,046
41,605,569
47,549,222
118,873,055

m3
m3
m3
m3
kg
set
set
set
ls

371
2,286
1,274
164
168
3
2
1
1

260,000
560,000
1,450,000
28,968,667
48,281,112

m3
m3
m3
set
ls

1,114
724
133
1
1

260,000
560,000
1,450,000
925,000
1,645,000
110,255,643

m3
m3
m3
m'
m'
ls

3,392
1,221
228
48
94
1

260,000
560,000
1,450,000
850,000
17,848,665
53,545,996
8,924,333
560,000
560,000
44,621,663

m3
m3
m3
kg
set
set
set
m'
m'
ls

1,098
319
62
84
1
1
1
143
112
1

260,000
560,000
1,450,000
850,000
939,024
486,080,000
207,951,115
86,646,298

m
m
m
kg
m'
m'
set
ls

467
186
155
163
424
0.11
1
1

6.9 Pengecatan Pipa Pesat

6.10 Pembuatan Saringan Pada PP
6.11 Bifurcation
6.12 Sabuk Pipa Pesat
6.13 Biaya Lain-lain / tak terduga
7 Pekerjaan Gedung Sentral PLTM
7.1 Galian
7.2 Pasangan Batu Kali 1:4
7.3 Pasangan Beton Cor 1:2:3
7.4 Kontruksi Baja H-Beam
7.5 Kontruksi Beton
7.6 Kontruksi Atap Baja Ringan
7.7 Alat Angkat (crane) +/- 20 t
7.8 Saluran Kabel
7.9 Saluran Buang (De-watering)
7.10 Tangga besi/beton
7.11 Pengecatan
7.12 Biaya Lain-lain
8 Saluran Pembuang
8.1 Galian
8.2 Pasangan Batu Kali 1:4
8.3 Pasangan Beton Cor 1:2:3
8.4 Biaya Lain-lain
9 Jalan Masuk / Access Road
9.1 Pekerjaan Jembatan
9.2 Pekerjaan Gorong-gorong
9.3 Biaya Lain-Lain
10 Rumah Operator & Kantor
9.1 Rumah Operator
9.2 Kantor & Perlengkapan
9.3 Biaya Lain-lain
TOTAL COST OF CIVIL WORKS

69,317,038
34,658,519
173,292,596
34,658,519
86,646,298

ls
set
set
set
ls

1
1
1
1
1

260,000
560,000
1,450,000
1,650,000
1,450,000
726,000
52,648,840
154,665,000
103,110,000
10,529,768
10,529,768
52,648,840

m
m
m
kg
m
kg
set
m
m
set
ls
ls

607
226
123
128
94
87
1
0.20
0.20
1
1
1

260,000
560,000
1,450,000
20,422,084

m3
m3
m3
ls

597
255
62
1

2,300,000
1,200,000
22,310,831

m'
m'
ls

107
149
1.00

2,200,000
84,049,270
10,506,159

m2
ls
ls

52.53
1.00
1.00

IL WORKS
Indeks = 1
Proportion
Cost (Rp)
of Total Cost
755,499,055
6.84%
272,475,069
2.47%
483,023,986
4.37%
2,377,461,090
21.52%
356,619,164
3.23%
594,365,273
5.38%
713,238,327
6.46%
237,746,109
2.15%
142,647,665
1.29%
83,211,138
0.75%
83,211,138
0.75%
47,549,222
0.43%
118,873,055
1.08%
965,622,230
8.74%
289,686,669
2.62%
405,561,337
3.67%
193,124,446
1.75%
28,968,667
0.26%
48,281,112
0.44%
2,205,112,868
19.96%
882,045,147
7.98%
683,584,989
6.19%
330,766,930
2.99%
44,102,257
0.40%
154,357,901
1.40%
110,255,643
1.00%
892,433,259
8.08%
285,578,643
2.59%
178,486,652
1.62%
89,243,326
0.81%
71,394,661
0.65%
17,848,665
0.16%
53,545,996
0.48%
8,924,333
0.08%
80,318,993
0.73%
62,470,328
0.57%
44,621,663
0.40%
1,732,925,959
15.69%
121,304,817
1.10%
103,975,558
0.94%
225,280,375
2.04%
138,634,077
1.25%
398,572,970
3.61%
51,987,779
0.47%
207,951,115
1.88%
86,646,298
0.78%

69,317,038
34,658,519
173,292,596
34,658,519
86,646,298
1,052,976,809
157,946,521
126,357,217
179,006,057
210,595,362
136,886,985
63,178,609
52,648,840
31,589,304
21,059,536
10,529,768
10,529,768
52,648,840
408,441,677
155,207,837
142,954,587
89,857,169
20,422,084
446,216,630
245,419,146
178,486,652
22,310,831
210,123,175
115,567,746
84,049,270
10,506,159

0.63%
0.31%
1.57%
0.31%
0.78%
9.53%
1.43%
1.14%
1.62%
1.91%
1.24%
0.57%
0.48%
0.29%
0.19%
0.10%
0.10%
0.48%
3.70%
1.41%
1.29%
0.81%
0.18%
4.04%
2.22%
1.62%
0.20%
1.90%
1.05%
0.76%
0.10%

11,046,812,752

100%

ASUMSI PERHITUNGAN
ASSUMPTION IN THE PROJECT
1 Project Overview
Capacity Installed
Capital Cost : Engineering Procurement and Construction (EPC)
Capacity Factor (CF)
Annual Energy Production
Grace Period (Construction Period)
Depreciation period (based on terms of contract of energy selling)
Energy Selling Price
Annual Operational Cost per kWh
- O&M Fixed Cost
- Water Cost & Retribution
- O&M Variable Cost
2 Economic Assumption
Annual Inflasi Rate
Interest Rate [r]
Foreign Currency Rp/USD
Riskfree Rate (Rf)
Market Return (Rm)
Beta Sector ()
3 Fund Scheme
Equity Ratio
Debt Ratio
Required Rate of Return
Weighted Average Cost of Capital (WACC)
Term of payment

1,000
19,320,330
19,320,330,118
70%
6,048,000
2
20
900
56
32
8
16

kW
Rp/kW
Rp
(annual)
kWh
year
year
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

7.5% per year

13.5% (annual)
9,000 Rp/USD
0.13
0.18
1.06
30%
70%
18.30%
14.94%
6

(capital)
(capital)
(CAPM)
year

PROYEKSI ANALISA KEUANGAN

BALANCE SHEETS
AKTIVA
-

Aktiva Tetap

Aktiva Lain

EKUITAS & KEWAJIBAN

Ekuitas
-

Modal Saham

Saldo Laba

Kewajiban
-

Hutang Jangka Panjang

INCOME STATEMENT
REVENUE
-

Penjualan energi listrik ke PLN

EXPENSE
-

O&M Fixed Cost

Water Cost and Retribution

O&M Variable Cost

Earnings Before Interest Depreciation Amortization and Taxes (EBITDA)

Depresiasi
Earnings Before Interest and Taxes (EBIT)
Interest
Earnings Before Taxes (EBT)
Taxes
Earnings After Taxes (EAT)
CASH FLOW STATEMENT
ALIRAN KAS MASUK
-

Modal Mandiri (Equity)

Modal Pinjaman (Loan+IDC)

Pendapatan Usaha (EAT+Depresiasi)

ALIRAN KAS KELUAR

-

Development Cost (EPC+IDC)

Angsuran Pokok (Principle)

KAS AWAL
KAS AKHIR
OUTPUT OF FINANCIAL ANALYSIS
Net Present Value (NPV)

Internal Rate of Return (IRR)

0
14.94% > WACC =

14.94%

Aliran Kas

Payback Period (PP)

6.57 tahun

Laba Ditahan :

ANALISA FINANSI
Construction Period
0

31,309,337,650

31,003,911,044

30,646,503,459

30,231,220,965

29,751,440,909

29,199,716,065

28,567,665,689

19,320,330,118

18,354,313,612

17,388,297,106

16,422,280,600

15,456,264,094

14,490,247,588

13,524,231,082

11,989,007,532

12,649,597,432

13,258,206,353

13,808,940,365

14,295,176,815

14,709,468,476

15,043,434,607

31,309,337,650

31,003,911,044

30,646,503,459

30,231,220,965

29,751,440,909

29,199,716,065

28,567,665,689

5,796,099,035

7,512,972,489

9,468,417,793

11,698,286,034

14,243,697,265

17,151,806,374

20,476,679,661

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

1,716,873,454

3,672,318,758

5,902,186,999

8,447,598,230

11,355,707,339

14,680,580,626

25,513,238,614

23,490,938,555

21,178,085,666

18,532,934,931

15,507,743,644

12,047,909,690

8,090,986,028

25,513,238,614

23,490,938,555

21,178,085,666

18,532,934,931

15,507,743,644

12,047,909,690

8,090,986,028

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

339,639,947

365,112,943

392,496,414

421,933,645

453,578,668

487,597,068

195,195,372

209,835,025

225,572,652

242,490,601

260,677,396

280,228,200

46,846,889

50,360,406

54,137,436

58,197,744

62,562,575

67,254,768

97,597,686

104,917,512

112,786,326

121,245,300

130,338,698

140,114,100

5,103,560,053

5,078,087,057

5,050,703,586

5,021,266,355

4,989,621,332

4,955,602,932

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

4,137,543,547

4,112,070,551

4,084,687,080

4,055,249,849

4,023,604,826

3,989,586,426

2,229,906,376

1,939,353,546

1,607,055,701

1,227,015,148

792,372,482

295,282,774

1,907,637,171

2,172,717,005

2,477,631,379

2,828,234,701

3,231,232,344

3,694,303,652

190,763,717

217,271,700

247,763,138

282,823,470

323,123,234

369,430,365

1,716,873,454

1,955,445,304

2,229,868,241

2,545,411,231

2,908,109,109

3,324,873,287

23,218,351,622

2,682,889,959

2,921,461,810

3,195,884,747

3,511,427,737

3,874,125,615

4,290,889,793

5,796,099,035

17,422,252,586

2,682,889,959

2,921,461,810

3,195,884,747

3,511,427,737

3,874,125,615

4,290,889,793

23,218,351,622

2,022,300,059

2,312,852,889

2,645,150,735

3,025,191,287

3,459,833,954

3,956,923,662

23,218,351,622

2,022,300,059

2,312,852,889

2,645,150,735

3,025,191,287

3,459,833,954

3,956,923,662

660,589,900

1,269,198,821

1,819,932,833

2,306,169,283

2,720,460,944

660,589,900

1,269,198,821

1,819,932,833

2,306,169,283

2,720,460,944

3,054,427,075

(23,218,351,622)

2,682,889,959

2,921,461,810

3,195,884,747

3,511,427,737

3,874,125,615

4,290,889,793

2,682,889,959

5,604,351,770

8,800,236,517

12,311,664,253

16,185,789,869

20,476,679,661

ANALISA FINANSIAL
TAHUN
7

10

11

12

13

24,034,394,642

27,556,728,361

31,041,027,223

34,484,438,614

37,883,895,973

41,236,102,748

12,558,214,577

11,592,198,071

10,626,181,565

9,660,165,059

8,694,148,553

7,728,132,047

44,537,515,145
6,762,115,541

11,476,180,066

15,964,530,290

20,414,845,658

24,824,273,555

29,189,747,420

33,507,970,701

37,775,399,604

24,034,394,642

27,556,728,361

31,041,027,223

34,484,438,614

37,883,895,973

41,236,102,748

44,537,515,145

24,034,394,642

27,556,728,361

31,041,027,223

34,484,438,614

37,883,895,973

41,236,102,748

44,537,515,145

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

18,238,295,607

21,760,629,326

25,244,928,188

28,688,339,578

32,087,796,937

35,440,003,712

38,741,416,110

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

524,166,848

563,479,362

605,740,314

651,170,838

700,008,651

752,509,299

808,947,497

301,245,315

323,838,714

348,126,617

374,236,114

402,303,822

432,476,609

464,912,355

72,298,876

77,721,291

83,550,388

89,816,667

96,552,917

103,794,386

111,578,965

150,622,658

161,919,357

174,063,309

187,118,057

201,151,911

216,238,304

232,456,177

4,919,033,152

4,879,720,638

4,837,459,686

4,792,029,162

4,743,191,349

4,690,690,701

4,634,252,503

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

3,953,016,646

3,913,704,132

3,871,443,180

3,826,012,656

3,777,174,843

3,724,674,195

3,668,235,997

3,953,016,646

3,913,704,132

3,871,443,180

3,826,012,656

3,777,174,843

3,724,674,195

3,668,235,997

395,301,665

391,370,413

387,144,318

382,601,266

377,717,484

372,467,419

366,823,600

3,557,714,981

3,522,333,719

3,484,298,862

3,443,411,391

3,399,457,359

3,352,206,775

3,301,412,397

4,523,731,487

4,488,350,225

4,450,315,368

4,409,427,897

4,365,473,865

4,318,223,281

4,267,428,903

4,523,731,487

4,488,350,225

4,450,315,368

4,409,427,897

4,365,473,865

4,318,223,281

4,267,428,903

3,054,427,075

7,578,158,562

12,066,508,787

16,516,824,154

20,926,252,051

25,291,725,916

29,609,949,197

7,578,158,562

12,066,508,787

16,516,824,154

20,926,252,051

25,291,725,916

29,609,949,197

33,877,378,100

4,523,731,487

4,488,350,225

4,450,315,368

4,409,427,897

4,365,473,865

4,318,223,281

4,267,428,903

25,000,411,148

29,488,761,373

33,939,076,741

38,348,504,637
Payback !

42,713,978,502

47,032,201,783

51,299,630,686

14

15

16

17

18

19

20

47,784,323,587

50,972,432,775

54,097,440,267

57,154,613,435

60,138,864,705

63,044,724,934

5,796,099,035

4,830,082,529

3,864,066,024

2,898,049,518

1,932,033,012

966,016,506

65,866,314,795
0

41,988,224,551

46,142,350,246

50,233,374,244

54,256,563,918

58,206,831,693

62,078,708,428

65,866,314,795

47,784,323,587

50,972,432,775

54,097,440,267

57,154,613,435

60,138,864,705

63,044,724,934

65,866,314,795

47,784,323,587

50,972,432,775

54,097,440,267

57,154,613,435

60,138,864,705

63,044,724,934

65,866,314,795

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

5,796,099,035

41,988,224,551

45,176,333,740

48,301,341,232

51,358,514,400

54,342,765,670

57,248,625,899

60,070,215,759

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

5,443,200,000

869,618,559

934,839,951

1,004,952,948

1,080,324,419

1,161,348,750

1,248,449,906

1,342,083,649

499,780,781

537,264,340

577,559,165

620,876,103

667,441,810

717,499,946

771,312,442

119,947,387

128,943,442

138,614,200

149,010,265

160,186,034

172,199,987

185,114,986

249,890,391

268,632,170

288,779,583

310,438,051

333,720,905

358,749,973

385,656,221

4,573,581,441

4,508,360,049

4,438,247,052

4,362,875,581

4,281,851,250

4,194,750,094

4,101,116,351

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

966,016,506

3,607,564,935

3,542,343,543

3,472,230,547

3,396,859,076

3,315,834,744

3,228,733,588

3,135,099,845

3,607,564,935

3,542,343,543

3,472,230,547

3,396,859,076

3,315,834,744

3,228,733,588

3,135,099,845

360,756,493

354,234,354

347,223,055

339,685,908

331,583,474

322,873,359

313,509,984

3,246,808,441

3,188,109,189

3,125,007,492

3,057,173,168

2,984,251,270

2,905,860,229

2,821,589,860

4,212,824,947

4,154,125,695

4,091,023,998

4,023,189,674

3,950,267,776

3,871,876,735

3,787,606,366

4,212,824,947

4,154,125,695

4,091,023,998

4,023,189,674

3,950,267,776

3,871,876,735

3,787,606,366

33,877,378,100

38,090,203,048

42,244,328,742

46,335,352,740

50,358,542,414

54,308,810,189

58,180,686,924

38,090,203,048

42,244,328,742

46,335,352,740

50,358,542,414

54,308,810,189

58,180,686,924

61,968,293,291

4,212,824,947

4,154,125,695

4,091,023,998

4,023,189,674

3,950,267,776

3,871,876,735

3,787,606,366

55,512,455,634

59,666,581,328

63,757,605,326

67,780,795,000

71,731,062,776

75,602,939,511

79,390,545,877

58

59

60

61

62

63

64

65

66

67

68

69

70

71
72

CAPITAL INVESTMENT LOAN

Monthly
Payment

Beginning Balance

(PMT)

Interest

Principle

Ending Balance

17,422,252,586

354,350,536

196,000,342

158,350,195

17,263,902,391

17,263,902,391

354,350,536

194,218,902

160,131,634

17,103,770,757

17,103,770,757

354,350,536

192,417,421

161,933,115

16,941,837,642

16,941,837,642

354,350,536

190,595,673

163,754,863

16,778,082,779

16,778,082,779

354,350,536

188,753,431

165,597,105

16,612,485,674

16,612,485,674

354,350,536

186,890,464

167,460,072

16,445,025,601

16,445,025,601

354,350,536

185,006,538

169,343,998

16,275,681,603

16,275,681,603

354,350,536

183,101,418

171,249,118

16,104,432,485

16,104,432,485

354,350,536

181,174,865

173,175,671

15,931,256,814

10

15,931,256,814

354,350,536

179,226,639

175,123,897

15,756,132,917

11

15,756,132,917

354,350,536

177,256,495

177,094,041

15,579,038,876

12

15,579,038,876

354,350,536

175,264,187

179,086,349

15,399,952,527

13

15,399,952,527

354,350,536

173,249,466

181,101,070

15,218,851,456

14

15,218,851,456

354,350,536

171,212,079

183,138,457

15,035,712,999

15

15,035,712,999

354,350,536

169,151,771

185,198,765

14,850,514,234

16

14,850,514,234

354,350,536

167,068,285

187,282,251

14,663,231,983

17

14,663,231,983

354,350,536

164,961,360

189,389,177

14,473,842,806

18

14,473,842,806

354,350,536

162,830,732

191,519,805

14,282,323,002

19

14,282,323,002

354,350,536

160,676,134

193,674,403

14,088,648,599

20

14,088,648,599

354,350,536

158,497,297

195,853,240

13,892,795,359

21

13,892,795,359

354,350,536

156,293,948

198,056,589

13,694,738,771

22

13,694,738,771

354,350,536

154,065,811

200,284,725

13,494,454,046

23
24

13,494,454,046
13,291,916,118

354,350,536
354,350,536

151,812,608
149,534,056

202,537,928
204,816,480

13,291,916,118
13,087,099,638

25

13,087,099,638

354,350,536

147,229,871

207,120,665

12,879,978,972

26

12,879,978,972

354,350,536

144,899,763

209,450,773

12,670,528,199

27

12,670,528,199

354,350,536

142,543,442

211,807,094

12,458,721,105

28

12,458,721,105

354,350,536

140,160,612

214,189,924

12,244,531,181

29

12,244,531,181

354,350,536

137,750,976

216,599,561

12,027,931,621

30

12,027,931,621

354,350,536

135,314,231

219,036,306

11,808,895,315

31

11,808,895,315

354,350,536

132,850,072

221,500,464

11,587,394,851

32

11,587,394,851

354,350,536

130,358,192

223,992,344

11,363,402,507

33

11,363,402,507

354,350,536

127,838,278

226,512,258

11,136,890,249

34

11,136,890,249

354,350,536

125,290,015

229,060,521

10,907,829,728

35

10,907,829,728

354,350,536

122,713,084

231,637,452

10,676,192,276

36

10,676,192,276

354,350,536

120,107,163

234,243,373

10,441,948,903

37

10,441,948,903

354,350,536

117,471,925

236,878,611

10,205,070,292

38

10,205,070,292

354,350,536

114,807,041

239,543,496

9,965,526,796

39

9,965,526,796

354,350,536

112,112,176

242,238,360

9,723,288,436

40

9,723,288,436

354,350,536

109,386,995

244,963,541

9,478,324,895

41

9,478,324,895

354,350,536

106,631,155

247,719,381

9,230,605,514

42

9,230,605,514

354,350,536

103,844,312

250,506,224

8,980,099,289

43

8,980,099,289

354,350,536

101,026,117

253,324,419

8,726,774,870

44
45

8,726,774,870
8,470,600,551

354,350,536
354,350,536

98,176,217
95,294,256

256,174,319
259,056,280

8,470,600,551
8,211,544,271

46

8,211,544,271

354,350,536

92,379,873

261,970,663

7,949,573,608

47

7,949,573,608

354,350,536

89,432,703

264,917,833

7,684,655,774

48

7,684,655,774

354,350,536

86,452,377

267,898,159

7,416,757,616

49
50

7,416,757,616
7,145,845,602

354,350,536
354,350,536

83,438,523
80,390,763

270,912,013
273,959,773

7,145,845,602
6,871,885,829

51

6,871,885,829

354,350,536

77,308,716

277,041,821

6,594,844,008

52

6,594,844,008

354,350,536

74,191,995

280,158,541

6,314,685,467

53

6,314,685,467

354,350,536

71,040,212

283,310,325

6,031,375,142

54

6,031,375,142

354,350,536

67,852,970

286,497,566

5,744,877,576

55

5,744,877,576

354,350,536

64,629,873

289,720,664

5,455,156,913

56

5,455,156,913

354,350,536

61,370,515

292,980,021

5,162,176,892

57

5,162,176,892

354,350,536

58,074,490

296,276,046

4,865,900,845

58

4,865,900,845

354,350,536

54,741,385

299,609,152

4,566,291,694

59

4,566,291,694

354,350,536

51,370,782

302,979,755

4,263,311,939

60

4,263,311,939

354,350,536

47,962,259

306,388,277

3,956,923,662

61

3,956,923,662

354,350,536

44,515,391

309,835,145

3,647,088,517

62

3,647,088,517

354,350,536

41,029,746

313,320,790

3,333,767,726

63

3,333,767,726

354,350,536

37,504,887

316,845,649

3,016,922,077

64

3,016,922,077

354,350,536

33,940,373

320,410,163

2,696,511,914

65

2,696,511,914

354,350,536

30,335,759

324,014,777

2,372,497,137

66

2,372,497,137

354,350,536

26,690,593

327,659,944

2,044,837,193

67

2,044,837,193

354,350,536

23,004,418

331,346,118

1,713,491,075

68

1,713,491,075

354,350,536

19,276,775

335,073,762

1,378,417,314

69

1,378,417,314

354,350,536

15,507,195

338,843,342

1,039,573,972

70

1,039,573,972

354,350,536

11,695,207

342,655,329

696,918,643

71
72

696,918,643
350,408,441

354,350,536
354,350,536

7,840,335
3,942,095

346,510,202
350,408,441

350,408,441
0

Loan

Term Of Payment (Year)

1

2,022,300,059

2,312,852,889

2,645,150,735

3,025,191,287

Interest

2,229,906,376

1,939,353,546

1,607,055,701

1,227,015,148

792,372,482

295,282,774

PMT

4,252,206,436

4,252,206,436

4,252,206,436

4,252,206,436

4,252,206,436

4,252,206,436

Construction Cost (EPC)

19,320,330,118

Development Cost (EPC+IDC)

23,218,351,622

Project Investment (EPC+IDC+Interest)

31,309,337,650

Loan For EPC

13,524,231,082

IDC for 2 years Construction

Capital Investment Loan

3,898,021,504
17,422,252,586

3,459,833,954

Principle

3,956,923,662

Total Loan
17,422,252,586
8,090,986,028
25,513,238,614

UNIT ENERGY COST CALCULATION

CAPITAL COSTS
1

Planning and Design

Engineering, Energy Survey, Hydrology Study, Site Survey, Pre-Feasibility
Study Report, Feasibility Study Report, Supervision Fees, Commisioning
Fees, Training Manuals
Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance, Training
For Management
Civil Works

Proportion
of Total Cost
1.37%

Cost
(Rp)
264,688,52

1.37%

264,688,52

50.03%

9,665,961,15

42.18%

8,149,315,24

1.37%

264,688,52

0.00%
3.68%
100.00%
:

710,988,14
19,320,330,11
3,898,021,5

23,218,351,62

Pekerjaan Persiapan, Bendung dan Intake, Kolam Penagkap Pasir (Desand Trap), Saluran Pembawa (Water Way), Kolam Penenang & Pelimpah,
Pipa Pesat (Penstock), Gedung Sentral, Saluran Pembuang, Jalan
masuk/jembatan/gorong-gorong, Kantor & Rm Operator & perlengkapan
4

Electro - Mechanical
Turbin, Governor, Generator, MIV, Transformator Utama, Transformator
pemakaian sendiri, MV Switchgear 20 kV dan 7.2 kV, Kabel Tenaga, dll

Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and Domestic
Connections
Appliances
6
Contingency
7
CAPITAL COST : Engineering Procurement and Construction (EPC) Cost =
IDC = Interest During Construction from construction period
5

interest rate =
equtiy =
Debt =
Grace period =

14%
30%
70%
2

annual
from capital
=
5,796,099,035
from capital
=
13,524,231,082
year Equal to construction period

CAPITAL COST : Project Development

EPC + IDC

RUNNING COSTS
Fixed Annual Operational & Maintenance Costs
Labour for wages (O&M staff), Management Committee (O&M), Specialist
Overhaul, Maintenance, Other
2
Variable Running Costs
O&M Staff Recruitment, initial O&M Training 5-yearly O&M Training
Refresher, Spare Parts, Tools, Materials, Specialist Advice, Repalcement
Equipment, Other
Water Cost (Water Rental & Retribution)
3
Contingency
4
Estimated total yearly running cost (O&M)
Capital Cost Project Investment expressed as an annual (Cannual)
Cannual + (O&M)
=
Total Annual Cost
=
Calculation of Unit Energy Cost:
1

10.0%

195,195,3

5.0%

97,597,6

2.4%
2.4%
19.8%
80.2%
100%

46,846,8
46,846,8
386,486,8
1,565,466,8
1,951,953,7

Capacity Factor
Capacity Installed
Term of Payment
Depreciation period
Unit Energy Cost

:
:
:
:
:

70.00%
1,000
6
20
323

Annual Running Costs

Component A
: Recovery Cost
Component B
: O&M Fixed Cost
Component C
: Water Cost
Component D
: O&M Variable Cost
Contingency
Unit Energy Cost

kW
year
year

Rp/kWh

Equal to energy sales contract terms

=
=
=
=
=
=

259
32
8
16
8
323

Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

Operasional Cost
64
+

Cost
(Rp)
264,688,523

264,688,523

9,665,961,158

8,149,315,244

264,688,523

0
710,988,148
19,320,330,118
3,898,021,504

23,218,351,622

195,195,372

97,597,686

46,846,889
46,846,889
386,486,836
1,565,466,882
1,951,953,719

Operasional Cost
Rp/kWh

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

13,524,231,082
3,898,021,504
17,422,252,586

Construction Cost (EPC)

Development Cost (EPC+IDC)
Project Investment (EPC+IDC+Interest)

19,320,330,118
23,218,351,622
31,309,337,650

RECAPITULATION OF CAPITAL COST

SCOPE OF WORKS
1 Planning and Design

Proportion of
Total Cost
1.37%

Cost
(Rp)
264,688,523

1.37%

264,688,523

50.03%
2.73%
5.50%
2.80%
10.89%
3.50%
17.70%
2.80%
0.69%
2.73%
0.69%
42.18%
21.77%

9,665,961,158
527,445,012
1,062,618,156
540,969,243
2,103,983,950
676,211,554
3,419,698,431
540,969,243
133,310,278
527,445,012
133,310,278
8,149,315,244
4,206,035,867

20.41%

3,943,279,377

1.37%

264,688,523

0.00%
3.68%
100.00%

0
710,988,148
19,320,330,118

Engineering, Energy Survey, Hydrology Study, Site Survey, PreFeasibility Study Report, Feasibility Study Report, Supervision Fees,
Commisioning Fees, Training Manuals
2 Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance,
Training For Management
3 Civil Works
3.1 Pekerjaan Persiapan (Access Road)
3.2 Bendung dan Intake
3.3 Kolam Penagkap Pasir (De-sand Trap)
3.4 Saluran Pembawa / Water Way
3.5 Kolam Penenang & Pelimpah
3.6 Pipa Pesat
3.7 Gedung Sentral
3.8 Saluran Pembuang
3.9 Jalan masuk/jembatan/gorong-gorong
3.10 Kantor & Rm Operator & perlengkapan
4 Electro - Mechanical
4.1 Mechanical
Turbin, Governor, Inlet Valve, Assembly Joint.
4.2 Electrical
Generator, Trafo, Panel Control, Switch Gear, Trafo
Pemakaian Sendiri.
5 Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and
Domestic Connections
6 Appliances
7 Contingency
TOTAL CAPITAL COST

START UP BUDGET PLAN OF CIVIL WORKS

SCOPE OF CIVIL WORKS
1

Pekerjaan Persiapan
1.1 Jalan Proyek (Access Road)
1.2 Fasilitas Kontruksi
Pekerjaan Bendung dan Intake
2.1 Bangunan Pengelak
2.2 Galian
2.3 Pemasangan batu kali 1 : 4
2.4 Pasangan Beton Cor 1 : 2 : 3
2.5 Penulangan Besi Beton
2.6 Pekerjaan Pintu Pengurang Bend
2.7 Pekerjaan Pintu Pengambilan
2.8 Pekerjaan Pembuatan Saringan
2.9 Biaya Lain-lain / tak terduga
Pekerjaan De-sand Trap
3.1 Galian
3.2 Pasangan Batu Kali 1:4
3.3 Pasangan Beton Cor 1:2:3
3.4 Pekerjaan Pintu Kuras Pasir
3.5 Biaya Lain-lain / tak terduga
Pekerjaan Saluran Pembawa
4.1 Galian
4.2 Pasangan Batu Kali 1:4
4.3 Pasangan Beton Cor 1:2:3
4.4 Gorong-gorong
4.5 Jembatan
4.6 Biaya Lain-lain / tak terduga
Pekerjaan Bak Penenang
5.1 Galian
5.2 Pasangan Batu Kali 1:4
5.3 Pasangan Beton Cor 1:2:3
5.4 Penulangan Besi Beton
5.5 Pembuatan Pintu Kuras
5.6 Pembuatan Pintu Air Masuk Pp
5.7 Pembuatann Tangga Turun
5.8 Pekerjaan Saluran Penguras
5.9 Pekerjaan Bangunan Pelimpah
5.10 Biaya Lain-lain / tak terduga
Pekerjaan Pipa Pesat (Penstock)
6.1 Galian
6.2 Pasangan Batu Kali 1:4
6.3 Pasangan Beton Cor 1:2:3
6.4 Penulangan Besi Beton
6.5 Pipa Pesat / Penstok & Las
6.6 Angker Blok
6.7 Sadel Pipa Pesat & Packing
6.8 Sand Blasting

Unit Price
Price (Rp)
per Unit

Total
Unit

238,415,686
422,645,988

ls
ls

1
1

960,000
260,000
560,000
1,450,000
850,000
24,269,915
36,404,873
41,605,569
104,013,923

m3
m3
m3
m3
kg
set
set
set
ls

325
2,000
1,114
143
147
3
2
1
1

260,000
560,000
1,450,000
25,347,584
42,245,973

m3
m3
m3
set
ls

975
634
117
1
1

260,000
560,000
1,450,000
925,000
1,645,000
96,473,688

m3
m3
m3
m'
m'
ls

2,968
1,068
200
42
82
1

260,000
560,000
1,450,000
850,000
15,617,582
46,852,746
7,808,791
560,000
560,000
39,043,955

m3
m3
m3
kg
set
set
set
m'
m'
ls

961
279
54
73
1
1
1
125
98
1

260,000
560,000
1,450,000
850,000
939,024
486,080,000
181,957,226
75,815,511

m
m
m
kg
m'
m'
set
ls

408
162
136
143
371
0.09
1
1

6.9 Pengecatan Pipa Pesat

6.10 Pembuatan Saringan Pada PP
6.11 Bifurcation
6.12 Sabuk Pipa Pesat
6.13 Biaya Lain-lain / tak terduga
7 Pekerjaan Gedung Sentral PLTM
7.1 Galian
7.2 Pasangan Batu Kali 1:4
7.3 Pasangan Beton Cor 1:2:3
7.4 Kontruksi Baja H-Beam
7.5 Kontruksi Beton
7.6 Kontruksi Atap Baja Ringan
7.7 Alat Angkat (crane) +/- 20 t
7.8 Saluran Kabel
7.9 Saluran Buang (De-watering)
7.10 Tangga besi/beton
7.11 Pengecatan
7.12 Biaya Lain-lain
8 Saluran Pembuang
8.1 Galian
8.2 Pasangan Batu Kali 1:4
8.3 Pasangan Beton Cor 1:2:3
8.4 Biaya Lain-lain
9 Jalan Masuk / Access Road
9.1 Pekerjaan Jembatan
9.2 Pekerjaan Gorong-gorong
9.3 Biaya Lain-Lain
10 Rumah Operator & Kantor
9.1 Rumah Operator
9.2 Kantor & Perlengkapan
9.3 Biaya Lain-lain
TOTAL COST OF CIVIL WORKS

60,652,409
30,326,204
151,631,021
30,326,204
75,815,511

ls
set
set
set
ls

1
1
1
1
1

260,000
560,000
1,450,000
1,650,000
1,450,000
726,000
46,067,735
154,665,000
103,110,000
9,213,547
9,213,547
46,067,735

m
m
m
kg
m
kg
set
m
m
set
ls
ls

532
197
108
112
83
76
1
0.18
0.18
1
1
1

260,000
560,000
1,450,000
17,869,323

m3
m3
m3
ls

522
223
54
1

2,300,000
1,200,000
19,521,978

m'
m'
ls

93
130
1.00

2,200,000
73,543,111
9,192,889

m2
ls
ls

45.96
1.00
1.00

IL WORKS
Indeks = 1
Proportion
Cost (Rp)
of Total Cost
661,061,674
6.84%
238,415,686
2.47%
422,645,988
4.37%
2,080,278,454
21.52%
312,041,768
3.23%
520,069,613
5.38%
624,083,536
6.46%
208,027,845
2.15%
124,816,707
1.29%
72,809,746
0.75%
72,809,746
0.75%
41,605,569
0.43%
104,013,923
1.08%
844,919,452
8.74%
253,475,835
2.62%
354,866,170
3.67%
168,983,890
1.75%
25,347,584
0.26%
42,245,973
0.44%
1,929,473,760
19.96%
771,789,504
7.98%
598,136,865
6.19%
289,421,064
2.99%
38,589,475
0.40%
135,063,163
1.40%
96,473,688
1.00%
780,879,102
8.08%
249,881,313
2.59%
156,175,820
1.62%
78,087,910
0.81%
62,470,328
0.65%
15,617,582
0.16%
46,852,746
0.48%
7,808,791
0.08%
70,279,119
0.73%
54,661,537
0.57%
39,043,955
0.40%
1,516,310,214
15.69%
106,141,715
1.10%
90,978,613
0.94%
197,120,328
2.04%
121,304,817
1.25%
348,751,349
3.61%
45,489,306
0.47%
181,957,226
1.88%
75,815,511
0.78%

60,652,409
30,326,204
151,631,021
30,326,204
75,815,511
921,354,708
138,203,206
110,562,565
156,630,300
184,270,942
119,776,112
55,281,282
46,067,735
27,640,641
18,427,094
9,213,547
9,213,547
46,067,735
357,386,467
135,806,858
125,085,264
78,625,023
17,869,323
390,439,551
214,741,753
156,175,820
19,521,978
183,857,778
101,121,778
73,543,111
9,192,889

0.63%
0.31%
1.57%
0.31%
0.78%
9.53%
1.43%
1.14%
1.62%
1.91%
1.24%
0.57%
0.48%
0.29%
0.19%
0.10%
0.10%
0.48%
3.70%
1.41%
1.29%
0.81%
0.18%
4.04%
2.22%
1.62%
0.20%
1.90%
1.05%
0.76%
0.10%

9,665,961,158

100%

ASUMSI PERHITUNGAN
ASSUMPTION IN THE PROJECT
1 Project Overview
Capacity Installed
Capital Cost : Engineering Procurement and Construction (EPC)
Capacity Factor (CF)
Annual Energy Production
Grace Period (Construction Period)
Depreciation period (based on terms of contract of energy selling)
Energy Selling Price
Annual Operational Cost per kWh
- O&M Fixed Cost
- Water Cost & Retribution
- O&M Variable Cost
2 Economic Assumption
Annual Inflasi Rate
Interest Rate [r]
Foreign Currency Rp/USD
Riskfree Rate (Rf)
Market Return (Rm)
Beta Sector ()
3 Fund Scheme
Equity Ratio
Debt Ratio
Required Rate of Return
Weighted Average Cost of Capital (WACC)
Term of payment

1,000
16,560,283
16,560,282,958
60%
5,184,000
2
20
900
56
32
8
16

kW
Rp/kW
Rp
(annual)
kWh
year
year
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

7.5% per year

13.5% (annual)
9,000 Rp/USD
0.13
0.18
1.06
30%
70%
18.30%
14.94%
6

(capital)
(capital)
(CAPM)
year

PROYEKSI ANALISA KEUANGAN

BALANCE SHEETS
AKTIVA
-

Aktiva Tetap

Aktiva Lain

EKUITAS & KEWAJIBAN

Ekuitas
-

Modal Saham

Saldo Laba

Kewajiban
-

Hutang Jangka Panjang

INCOME STATEMENT
REVENUE
-

Penjualan energi listrik ke PLN

EXPENSE
-

O&M Fixed Cost

Water Cost and Retribution

O&M Variable Cost

Earnings Before Interest Depreciation Amortization and Taxes (EBITDA)

Depresiasi
Earnings Before Interest and Taxes (EBIT)
Interest
Earnings Before Taxes (EBT)
Taxes
Earnings After Taxes (EAT)
CASH FLOW STATEMENT
ALIRAN KAS MASUK
-

Modal Mandiri (Equity)

Modal Pinjaman (Loan+IDC)

Pendapatan Usaha (EAT+Depresiasi)

ALIRAN KAS KELUAR

-

Development Cost (EPC+IDC)

Angsuran Pokok (Principle)

KAS AWAL
KAS AKHIR
OUTPUT OF FINANCIAL ANALYSIS
Net Present Value (NPV)

Internal Rate of Return (IRR)

0
14.94% > WACC =

14.94%

Aliran Kas

Payback Period (PP)

6.57 tahun

Laba Ditahan :

ANALISA FINANSI
Construction Period
0

26,836,575,128

26,574,780,895

26,268,431,536

25,912,475,113

25,501,235,065

25,028,328,055

24,486,570,591

16,560,282,958

15,732,268,810

14,904,254,662

14,076,240,514

13,248,226,366

12,420,212,219

11,592,198,071

10,276,292,170

10,842,512,085

11,364,176,874

11,836,234,599

12,253,008,698

12,608,115,837

12,894,372,520

26,836,575,128

26,574,780,895

26,268,431,536

25,912,475,113

25,501,235,065

25,028,328,055

24,486,570,591

4,968,084,887

6,439,690,705

8,115,786,680

10,027,102,315

12,208,883,370

14,701,548,321

17,551,439,710

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

1,471,605,817

3,147,701,792

5,059,017,428

7,240,798,483

9,733,463,434

12,583,354,822

21,868,490,241

20,135,090,190

18,152,644,856

15,885,372,798

13,292,351,695

10,326,779,734

6,935,130,881

21,868,490,241

20,135,090,190

18,152,644,856

15,885,372,798

13,292,351,695

10,326,779,734

6,935,130,881

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

291,119,955

312,953,951

336,425,498

361,657,410

388,781,716

417,940,344

167,310,319

179,858,593

193,347,987

207,849,086

223,437,768

240,195,600

40,154,477

43,166,062

46,403,517

49,883,781

53,625,064

57,646,944

83,655,159

89,929,296

96,673,994

103,924,543

111,718,884

120,097,800

4,374,480,045

4,352,646,049

4,329,174,502

4,303,942,590

4,276,818,284

4,247,659,656

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

3,546,465,897

3,524,631,901

3,501,160,355

3,475,928,442

3,448,804,136

3,419,645,508

1,911,348,323

1,662,303,040

1,377,476,315

1,051,727,270

679,176,413

253,099,520

1,635,117,575

1,862,328,861

2,123,684,039

2,424,201,172

2,769,627,723

3,166,545,987

163,511,757

186,232,886

212,368,404

242,420,117

276,962,772

316,654,599

1,471,605,817

1,676,095,975

1,911,315,635

2,181,781,055

2,492,664,951

2,849,891,389

19,901,444,247

2,299,619,965

2,504,110,123

2,739,329,783

3,009,795,203

3,320,679,099

3,677,905,537

4,968,084,887

14,933,359,360

2,299,619,965

2,504,110,123

2,739,329,783

3,009,795,203

3,320,679,099

3,677,905,537

19,901,444,247

1,733,400,051

1,982,445,334

2,267,272,058

2,593,021,103

2,965,571,960

3,391,648,853

19,901,444,247

1,733,400,051

1,982,445,334

2,267,272,058

2,593,021,103

2,965,571,960

3,391,648,853

566,219,914

1,087,884,704

1,559,942,429

1,976,716,528

2,331,823,667

566,219,914

1,087,884,704

1,559,942,429

1,976,716,528

2,331,823,667

2,618,080,350

(19,901,444,247)

2,299,619,965

2,504,110,123

2,739,329,783

3,009,795,203

3,320,679,099

3,677,905,537

2,299,619,965

4,803,730,088

7,543,059,872

10,552,855,074

13,873,534,173

17,551,439,710

ANALISA FINANSIAL
TAHUN
7

10

11

12

13

20,600,909,693

23,620,052,881

26,606,594,763

29,558,090,240

32,471,910,834

35,345,230,927

10,764,183,923

9,936,169,775

9,108,155,627

8,280,141,479

7,452,127,331

6,624,113,183

38,175,012,982
5,796,099,035

9,836,725,771

13,683,883,106

17,498,439,136

21,277,948,761

25,019,783,503

28,721,117,743

32,378,913,946

20,600,909,693

23,620,052,881

26,606,594,763

29,558,090,240

32,471,910,834

35,345,230,927

38,175,012,982

20,600,909,693

23,620,052,881

26,606,594,763

29,558,090,240

32,471,910,834

35,345,230,927

38,175,012,982

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

15,632,824,806

18,651,967,994

21,638,509,875

24,590,005,353

27,503,825,946

30,377,146,039

33,206,928,094

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

449,285,870

482,982,310

519,205,984

558,146,432

600,007,415

645,007,971

693,383,569

258,210,270

277,576,040

298,394,243

320,773,812

344,831,848

370,694,236

398,496,304

61,970,465

66,618,250

71,614,618

76,985,715

82,759,643

88,966,617

95,639,113

129,105,135

138,788,020

149,197,122

160,386,906

172,415,924

185,347,118

199,248,152

4,216,314,130

4,182,617,690

4,146,394,016

4,107,453,568

4,065,592,585

4,020,592,029

3,972,216,431

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

3,388,299,982

3,354,603,542

3,318,379,868

3,279,439,420

3,237,578,437

3,192,577,881

3,144,202,283

3,388,299,982

3,354,603,542

3,318,379,868

3,279,439,420

3,237,578,437

3,192,577,881

3,144,202,283

338,829,998

335,460,354

331,837,987

327,943,942

323,757,844

319,257,788

314,420,228

3,049,469,984

3,019,143,188

2,986,541,882

2,951,495,478

2,913,820,593

2,873,320,093

2,829,782,055

3,877,484,132

3,847,157,335

3,814,556,029

3,779,509,626

3,741,834,741

3,701,334,241

3,657,796,203

3,877,484,132

3,847,157,335

3,814,556,029

3,779,509,626

3,741,834,741

3,701,334,241

3,657,796,203

2,618,080,350

6,495,564,482

10,342,721,817

14,157,277,847

17,936,787,472

21,678,622,214

25,379,956,455

6,495,564,482

10,342,721,817

14,157,277,847

17,936,787,472

21,678,622,214

25,379,956,455

29,037,752,657

3,877,484,132

3,847,157,335

3,814,556,029

3,779,509,626

3,741,834,741

3,701,334,241

3,657,796,203

21,428,923,841

25,276,081,177

29,090,637,206

32,870,146,832
Payback !

36,611,981,573

40,313,315,814

43,971,112,017

14

15

16

17

18

19

20

40,957,991,646

43,690,656,665

46,369,234,515

48,989,668,659

51,547,598,319

54,038,335,658

4,968,084,887

4,140,070,740

3,312,056,592

2,484,042,444

1,656,028,296

828,014,148

56,456,841,252
(0)

35,989,906,758

39,550,585,925

43,057,177,923

46,505,626,215

49,891,570,023

53,210,321,510

56,456,841,252

40,957,991,646

43,690,656,665

46,369,234,515

48,989,668,659

51,547,598,319

54,038,335,658

56,456,841,252

40,957,991,646

43,690,656,665

46,369,234,515

48,989,668,659

51,547,598,319

54,038,335,658

56,456,841,252

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

4,968,084,887

35,989,906,758

38,722,571,777

41,401,149,627

44,021,583,771

46,579,513,431

49,070,250,770

51,488,756,365

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

4,665,600,000

745,387,336

801,291,387

861,388,241

925,992,359

995,441,786

1,070,099,920

1,150,357,414

428,383,527

460,512,291

495,050,713

532,179,517

572,092,980

614,999,954

661,124,950

102,812,046

110,522,950

118,812,171

127,723,084

137,302,315

147,599,989

158,669,988

214,191,763

230,256,146

247,525,357

266,089,758

286,046,490

307,499,977

330,562,475

3,920,212,664

3,864,308,613

3,804,211,759

3,739,607,641

3,670,158,214

3,595,500,080

3,515,242,586

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

828,014,148

3,092,198,516

3,036,294,465

2,976,197,611

2,911,593,493

2,842,144,066

2,767,485,932

2,687,228,439

3,092,198,516

3,036,294,465

2,976,197,611

2,911,593,493

2,842,144,066

2,767,485,932

2,687,228,439

309,219,852

303,629,447

297,619,761

291,159,349

284,214,407

276,748,593

268,722,844

2,782,978,664

2,732,665,019

2,678,577,850

2,620,434,144

2,557,929,660

2,490,737,339

2,418,505,595

3,610,992,812

3,560,679,167

3,506,591,998

3,448,448,292

3,385,943,808

3,318,751,487

3,246,519,743

3,610,992,812

3,560,679,167

3,506,591,998

3,448,448,292

3,385,943,808

3,318,751,487

3,246,519,743

29,037,752,657

32,648,745,469

36,209,424,636

39,716,016,634

43,164,464,926

46,550,408,734

49,869,160,221

32,648,745,469

36,209,424,636

39,716,016,634

43,164,464,926

46,550,408,734

49,869,160,221

53,115,679,964

3,610,992,812

3,560,679,167

3,506,591,998

3,448,448,292

3,385,943,808

3,318,751,487

3,246,519,743

47,582,104,829

51,142,783,996

54,649,375,994

58,097,824,286

61,483,768,093

64,802,519,581

68,049,039,323

58

59

60

61

62

63

64

65

66

67

68

69

70

71
72

CAPITAL INVESTMENT LOAN

Monthly
Payment

Beginning Balance

(PMT)

Interest

Principle

Ending Balance

14,933,359,360

303,729,031

168,000,293

135,728,738

14,797,630,621

14,797,630,621

303,729,031

166,473,344

137,255,687

14,660,374,935

14,660,374,935

303,729,031

164,929,218

138,799,813

14,521,575,122

14,521,575,122

303,729,031

163,367,720

140,361,311

14,381,213,811

14,381,213,811

303,729,031

161,788,655

141,940,376

14,239,273,435

14,239,273,435

303,729,031

160,191,826

143,537,205

14,095,736,230

14,095,736,230

303,729,031

158,577,033

145,151,999

13,950,584,231

13,950,584,231

303,729,031

156,944,073

146,784,959

13,803,799,273

13,803,799,273

303,729,031

155,292,742

148,436,289

13,655,362,983

10

13,655,362,983

303,729,031

153,622,834

150,106,198

13,505,256,786

11

13,505,256,786

303,729,031

151,934,139

151,794,892

13,353,461,894

12

13,353,461,894

303,729,031

150,226,446

153,502,585

13,199,959,309

13

13,199,959,309

303,729,031

148,499,542

155,229,489

13,044,729,820

14

13,044,729,820

303,729,031

146,753,210

156,975,821

12,887,753,999

15

12,887,753,999

303,729,031

144,987,232

158,741,799

12,729,012,201

16

12,729,012,201

303,729,031

143,201,387

160,527,644

12,568,484,557

17

12,568,484,557

303,729,031

141,395,451

162,333,580

12,406,150,977

18

12,406,150,977

303,729,031

139,569,198

164,159,833

12,241,991,144

19

12,241,991,144

303,729,031

137,722,400

166,006,631

12,075,984,513

20

12,075,984,513

303,729,031

135,854,826

167,874,205

11,908,110,308

21

11,908,110,308

303,729,031

133,966,241

169,762,790

11,738,347,518

22

11,738,347,518

303,729,031

132,056,410

171,672,622

11,566,674,896

23
24

11,566,674,896
11,393,070,958

303,729,031
303,729,031

130,125,093
128,172,048

173,603,939
175,556,983

11,393,070,958
11,217,513,975

25

11,217,513,975

303,729,031

126,197,032

177,531,999

11,039,981,976

26

11,039,981,976

303,729,031

124,199,797

179,529,234

10,860,452,742

27

10,860,452,742

303,729,031

122,180,093

181,548,938

10,678,903,804

28

10,678,903,804

303,729,031

120,137,668

183,591,363

10,495,312,441

29

10,495,312,441

303,729,031

118,072,265

185,656,766

10,309,655,675

30

10,309,655,675

303,729,031

115,983,626

187,745,405

10,121,910,270

31

10,121,910,270

303,729,031

113,871,491

189,857,541

9,932,052,730

32

9,932,052,730

303,729,031

111,735,593

191,993,438

9,740,059,292

33

9,740,059,292

303,729,031

109,575,667

194,153,364

9,545,905,928

34

9,545,905,928

303,729,031

107,391,442

196,337,589

9,349,568,338

35

9,349,568,338

303,729,031

105,182,644

198,546,387

9,151,021,951

36

9,151,021,951

303,729,031

102,948,997

200,780,034

8,950,241,917

37

8,950,241,917

303,729,031

100,690,222

203,038,810

8,747,203,107

38

8,747,203,107

303,729,031

98,406,035

205,322,996

8,541,880,111

39

8,541,880,111

303,729,031

96,096,151

207,632,880

8,334,247,231

40

8,334,247,231

303,729,031

93,760,281

209,968,750

8,124,278,481

41

8,124,278,481

303,729,031

91,398,133

212,330,898

7,911,947,583

42

7,911,947,583

303,729,031

89,009,410

214,719,621

7,697,227,962

43

7,697,227,962

303,729,031

86,593,815

217,135,217

7,480,092,746

44
45

7,480,092,746
7,260,514,758

303,729,031
303,729,031

84,151,043
81,680,791

219,577,988
222,048,240

7,260,514,758
7,038,466,518

46

7,038,466,518

303,729,031

79,182,748

224,546,283

6,813,920,235

47

6,813,920,235

303,729,031

76,656,603

227,072,428

6,586,847,807

48

6,586,847,807

303,729,031

74,102,038

229,626,993

6,357,220,813

49
50

6,357,220,813
6,125,010,516

303,729,031
303,729,031

71,518,734
68,906,368

232,210,297
234,822,663

6,125,010,516
5,890,187,854

51

5,890,187,854

303,729,031

66,264,613

237,464,418

5,652,723,436

52

5,652,723,436

303,729,031

63,593,139

240,135,892

5,412,587,543

53

5,412,587,543

303,729,031

60,891,610

242,837,421

5,169,750,122

54

5,169,750,122

303,729,031

58,159,689

245,569,342

4,924,180,780

55

4,924,180,780

303,729,031

55,397,034

248,331,997

4,675,848,782

56

4,675,848,782

303,729,031

52,603,299

251,125,732

4,424,723,050

57

4,424,723,050

303,729,031

49,778,134

253,950,897

4,170,772,153

58

4,170,772,153

303,729,031

46,921,187

256,807,844

3,913,964,309

59

3,913,964,309

303,729,031

44,032,098

259,696,933

3,654,267,376

60

3,654,267,376

303,729,031

41,110,508

262,618,523

3,391,648,853

61

3,391,648,853

303,729,031

38,156,050

265,572,982

3,126,075,872

62

3,126,075,872

303,729,031

35,168,354

268,560,678

2,857,515,194

63

2,857,515,194

303,729,031

32,147,046

271,581,985

2,585,933,209

64

2,585,933,209

303,729,031

29,091,749

274,637,283

2,311,295,926

65

2,311,295,926

303,729,031

26,002,079

277,726,952

2,033,568,974

66

2,033,568,974

303,729,031

22,877,651

280,851,380

1,752,717,594

67

1,752,717,594

303,729,031

19,718,073

284,010,958

1,468,706,636

68

1,468,706,636

303,729,031

16,522,950

287,206,081

1,181,500,554

69

1,181,500,554

303,729,031

13,291,881

290,437,150

891,063,405

70

891,063,405

303,729,031

10,024,463

293,704,568

597,358,837

71
72

597,358,837
300,350,093

303,729,031
303,729,031

6,720,287
3,378,939

297,008,744
300,350,093

300,350,093
0

Loan

Term Of Payment (Year)

1

1,733,400,051

1,982,445,334

2,267,272,058

2,593,021,103

Interest

1,911,348,323

1,662,303,040

1,377,476,315

1,051,727,270

679,176,413

253,099,520

PMT

3,644,748,373

3,644,748,373

3,644,748,373

3,644,748,373

3,644,748,373

3,644,748,373

Construction Cost (EPC)

16,560,282,958

Development Cost (EPC+IDC)

19,901,444,247

Project Investment (EPC+IDC+Interest)

26,836,575,128

Loan For EPC

11,592,198,071

IDC for 2 years Construction

Capital Investment Loan

3,341,161,289
14,933,359,360

2,965,571,960

Principle

3,391,648,853

Total Loan
14,933,359,360
6,935,130,881
21,868,490,241

UNIT ENERGY COST CALCULATION

CAPITAL COSTS
1

Planning and Design

Engineering, Energy Survey, Hydrology Study, Site Survey, Pre-Feasibility
Study Report, Feasibility Study Report, Supervision Fees, Commisioning
Fees, Training Manuals
Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance, Training
For Management
Civil Works

Proportion
of Total Cost
1.37%

Cost
(Rp)
226,875,87

1.37%

226,875,87

50.03%

8,285,109,56

42.18%

6,985,127,35

1.37%

226,875,87

0.00%
3.68%
100.00%
:

609,418,41
16,560,282,95
3,341,161,2

19,901,444,24

Pekerjaan Persiapan, Bendung dan Intake, Kolam Penagkap Pasir (Desand Trap), Saluran Pembawa (Water Way), Kolam Penenang & Pelimpah,
Pipa Pesat (Penstock), Gedung Sentral, Saluran Pembuang, Jalan
masuk/jembatan/gorong-gorong, Kantor & Rm Operator & perlengkapan
4

Electro - Mechanical
Turbin, Governor, Generator, MIV, Transformator Utama, Transformator
pemakaian sendiri, MV Switchgear 20 kV dan 7.2 kV, Kabel Tenaga, dll

Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and Domestic
Connections
Appliances
6
Contingency
7
CAPITAL COST : Engineering Procurement and Construction (EPC) Cost =
IDC = Interest During Construction from construction period
5

interest rate =
equtiy =
Debt =
Grace period =

14%
30%
70%
2

annual
from capital
=
4,968,084,887
from capital
=
11,592,198,071
year Equal to construction period

CAPITAL COST : Project Development

EPC + IDC

RUNNING COSTS
Fixed Annual Operational & Maintenance Costs
Labour for wages (O&M staff), Management Committee (O&M), Specialist
Overhaul, Maintenance, Other
2
Variable Running Costs
O&M Staff Recruitment, initial O&M Training 5-yearly O&M Training
Refresher, Spare Parts, Tools, Materials, Specialist Advice, Repalcement
Equipment, Other
Water Cost (Water Rental & Retribution)
3
Contingency
4
Estimated total yearly running cost (O&M)
Capital Cost Project Investment expressed as an annual (Cannual)
Cannual + (O&M)
=
Total Annual Cost
=
Calculation of Unit Energy Cost:
1

10.0%

167,310,3

5.0%

83,655,1

2.4%
2.4%
19.8%
80.2%
100%

40,154,4
40,154,4
331,274,4
1,341,828,7
1,673,103,1

Capacity Factor
Capacity Installed
Term of Payment
Depreciation period
Unit Energy Cost

:
:
:
:
:

60.00%
1,000
6
20
323

Annual Running Costs

Component A
: Recovery Cost
Component B
: O&M Fixed Cost
Component C
: Water Cost
Component D
: O&M Variable Cost
Contingency
Unit Energy Cost

kW
year
year

Rp/kWh

Equal to energy sales contract terms

=
=
=
=
=
=

259
32
8
16
8
323

Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

Operasional Cost
64
+

Cost
(Rp)
226,875,877

226,875,877

8,285,109,564

6,985,127,352

226,875,877

0
609,418,413
16,560,282,958
3,341,161,289

19,901,444,247

167,310,319

83,655,159

40,154,477
40,154,477
331,274,431
1,341,828,756
1,673,103,188

Operasional Cost
Rp/kWh

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

11,592,198,071
3,341,161,289
14,933,359,360

Construction Cost (EPC)

Development Cost (EPC+IDC)
Project Investment (EPC+IDC+Interest)

16,560,282,958
19,901,444,247
26,836,575,128

RECAPITULATION OF CAPITAL COST

SCOPE OF WORKS
1 Planning and Design

Proportion of
Total Cost
1.37%

Cost
(Rp)
226,875,877

1.37%

226,875,877

50.03%
2.73%
5.50%
2.80%
10.89%
3.50%
17.70%
2.80%
0.69%
2.73%
0.69%
42.18%
21.77%

8,285,109,564
452,095,725
910,815,563
463,687,923
1,803,414,814
579,609,904
2,931,170,084
463,687,923
114,265,952
452,095,725
114,265,952
6,985,127,352
3,605,173,600

20.41%

3,379,953,752

1.37%

226,875,877

0.00%
3.68%
100.00%

0
609,418,413
16,560,282,958

Engineering, Energy Survey, Hydrology Study, Site Survey, PreFeasibility Study Report, Feasibility Study Report, Supervision Fees,
Commisioning Fees, Training Manuals
2 Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance,
Training For Management
3 Civil Works
3.1 Pekerjaan Persiapan (Access Road)
3.2 Bendung dan Intake
3.3 Kolam Penagkap Pasir (De-sand Trap)
3.4 Saluran Pembawa / Water Way
3.5 Kolam Penenang & Pelimpah
3.6 Pipa Pesat
3.7 Gedung Sentral
3.8 Saluran Pembuang
3.9 Jalan masuk/jembatan/gorong-gorong
3.10 Kantor & Rm Operator & perlengkapan
4 Electro - Mechanical
4.1 Mechanical
Turbin, Governor, Inlet Valve, Assembly Joint.
4.2 Electrical
Generator, Trafo, Panel Control, Switch Gear, Trafo
Pemakaian Sendiri.
5 Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and
Domestic Connections
6 Appliances
7 Contingency
TOTAL CAPITAL COST

START UP BUDGET PLAN OF CIVIL WORKS

SCOPE OF CIVIL WORKS
1

Pekerjaan Persiapan
1.1 Jalan Proyek (Access Road)
1.2 Fasilitas Kontruksi
Pekerjaan Bendung dan Intake
2.1 Bangunan Pengelak
2.2 Galian
2.3 Pemasangan batu kali 1 : 4
2.4 Pasangan Beton Cor 1 : 2 : 3
2.5 Penulangan Besi Beton
2.6 Pekerjaan Pintu Pengurang Bend
2.7 Pekerjaan Pintu Pengambilan
2.8 Pekerjaan Pembuatan Saringan
2.9 Biaya Lain-lain / tak terduga
Pekerjaan De-sand Trap
3.1 Galian
3.2 Pasangan Batu Kali 1:4
3.3 Pasangan Beton Cor 1:2:3
3.4 Pekerjaan Pintu Kuras Pasir
3.5 Biaya Lain-lain / tak terduga
Pekerjaan Saluran Pembawa
4.1 Galian
4.2 Pasangan Batu Kali 1:4
4.3 Pasangan Beton Cor 1:2:3
4.4 Gorong-gorong
4.5 Jembatan
4.6 Biaya Lain-lain / tak terduga
Pekerjaan Bak Penenang
5.1 Galian
5.2 Pasangan Batu Kali 1:4
5.3 Pasangan Beton Cor 1:2:3
5.4 Penulangan Besi Beton
5.5 Pembuatan Pintu Kuras
5.6 Pembuatan Pintu Air Masuk Pp
5.7 Pembuatann Tangga Turun
5.8 Pekerjaan Saluran Penguras
5.9 Pekerjaan Bangunan Pelimpah
5.10 Biaya Lain-lain / tak terduga
Pekerjaan Pipa Pesat (Penstock)
6.1 Galian
6.2 Pasangan Batu Kali 1:4
6.3 Pasangan Beton Cor 1:2:3
6.4 Penulangan Besi Beton
6.5 Pipa Pesat / Penstok & Las
6.6 Angker Blok
6.7 Sadel Pipa Pesat & Packing
6.8 Sand Blasting

Unit Price
Price (Rp)
per Unit

Total
Unit

204,356,302
362,267,990

ls
ls

1
1

960,000
260,000
560,000
1,450,000
850,000
20,802,785
31,204,177
35,661,916
89,154,791

m3
m3
m3
m3
kg
set
set
set
ls

279
1,715
955
123
126
3
2
1
1

260,000
560,000
1,450,000
21,726,500
36,210,834

m3
m3
m3
set
ls

836
543
100
1
1

260,000
560,000
1,450,000
925,000
1,645,000
82,691,733

m3
m3
m3
m'
m'
ls

2,544
916
171
36
70
1

260,000
560,000
1,450,000
850,000
13,386,499
40,159,497
6,693,249
560,000
560,000
33,466,247

m3
m3
m3
kg
set
set
set
m'
m'
ls

824
239
46
63
1
1
1
108
84
1

260,000
560,000
1,450,000
850,000
939,024
486,080,000
155,963,336
64,984,723

m
m
m
kg
m'
m'
set
ls

350
139
117
122
318
0.08
1
1

6.9 Pengecatan Pipa Pesat

6.10 Pembuatan Saringan Pada PP
6.11 Bifurcation
6.12 Sabuk Pipa Pesat
6.13 Biaya Lain-lain / tak terduga
7 Pekerjaan Gedung Sentral PLTM
7.1 Galian
7.2 Pasangan Batu Kali 1:4
7.3 Pasangan Beton Cor 1:2:3
7.4 Kontruksi Baja H-Beam
7.5 Kontruksi Beton
7.6 Kontruksi Atap Baja Ringan
7.7 Alat Angkat (crane) +/- 20 t
7.8 Saluran Kabel
7.9 Saluran Buang (De-watering)
7.10 Tangga besi/beton
7.11 Pengecatan
7.12 Biaya Lain-lain
8 Saluran Pembuang
8.1 Galian
8.2 Pasangan Batu Kali 1:4
8.3 Pasangan Beton Cor 1:2:3
8.4 Biaya Lain-lain
9 Jalan Masuk / Access Road
9.1 Pekerjaan Jembatan
9.2 Pekerjaan Gorong-gorong
9.3 Biaya Lain-Lain
10 Rumah Operator & Kantor
9.1 Rumah Operator
9.2 Kantor & Perlengkapan
9.3 Biaya Lain-lain
TOTAL COST OF CIVIL WORKS

51,987,779
25,993,889
129,969,447
25,993,889
64,984,723

ls
set
set
set
ls

1
1
1
1
1

260,000
560,000
1,450,000
1,650,000
1,450,000
726,000
39,486,630
154,665,000
103,110,000
7,897,326
7,897,326
39,486,630

m
m
m
kg
m
kg
set
m
m
set
ls
ls

456
169
93
96
71
65
1
0.15
0.15
1
1
1

260,000
560,000
1,450,000
15,316,563

m3
m3
m3
ls

448
191
46
1

2,300,000
1,200,000
16,733,124

m'
m'
ls

80
112
1.00

2,200,000
63,036,952
7,879,619

m2
ls
ls

39.40
1.00
1.00

IL WORKS
Indeks = 1
Proportion
Cost (Rp)
of Total Cost
566,624,292
6.84%
204,356,302
2.47%
362,267,990
4.37%
1,783,095,818
21.52%
267,464,373
3.23%
445,773,954
5.38%
534,928,745
6.46%
178,309,582
2.15%
106,985,749
1.29%
62,408,354
0.75%
62,408,354
0.75%
35,661,916
0.43%
89,154,791
1.08%
724,216,673
8.74%
217,265,002
2.62%
304,171,003
3.67%
144,843,335
1.75%
21,726,500
0.26%
36,210,834
0.44%
1,653,834,651
19.96%
661,533,860
7.98%
512,688,742
6.19%
248,075,198
2.99%
33,076,693
0.40%
115,768,426
1.40%
82,691,733
1.00%
669,324,944
8.08%
214,183,982
2.59%
133,864,989
1.62%
66,932,494
0.81%
53,545,996
0.65%
13,386,499
0.16%
40,159,497
0.48%
6,693,249
0.08%
60,239,245
0.73%
46,852,746
0.57%
33,466,247
0.40%
1,299,694,469
15.69%
90,978,613
1.10%
77,981,668
0.94%
168,960,281
2.04%
103,975,558
1.25%
298,929,728
3.61%
38,990,834
0.47%
155,963,336
1.88%
64,984,723
0.78%

51,987,779
25,993,889
129,969,447
25,993,889
64,984,723
789,732,606
118,459,891
94,767,913
134,254,543
157,946,521
102,665,239
47,383,956
39,486,630
23,691,978
15,794,652
7,897,326
7,897,326
39,486,630
306,331,258
116,405,878
107,215,940
67,392,877
15,316,563
334,662,472
184,064,360
133,864,989
16,733,124
157,592,381
86,675,810
63,036,952
7,879,619

0.63%
0.31%
1.57%
0.31%
0.78%
9.53%
1.43%
1.14%
1.62%
1.91%
1.24%
0.57%
0.48%
0.29%
0.19%
0.10%
0.10%
0.48%
3.70%
1.41%
1.29%
0.81%
0.18%
4.04%
2.22%
1.62%
0.20%
1.90%
1.05%
0.76%
0.10%

8,285,109,564

100%

ASUMSI PERHITUNGAN
ASSUMPTION IN THE PROJECT
1 Project Overview
Capacity Installed
Capital Cost : Engineering Procurement and Construction (EPC)
Capacity Factor (CF)
Annual Energy Production
Grace Period (Construction Period)
Depreciation period (based on terms of contract of energy selling)
Energy Selling Price
Annual Operational Cost per kWh
- O&M Fixed Cost
- Water Cost & Retribution
- O&M Variable Cost
2 Economic Assumption
Annual Inflasi Rate
Interest Rate [r]
Foreign Currency Rp/USD
Riskfree Rate (Rf)
Market Return (Rm)
Beta Sector ()
3 Fund Scheme
Equity Ratio
Debt Ratio
Required Rate of Return
Weighted Average Cost of Capital (WACC)
Term of payment

1,000
13,800,236
13,800,235,798
50%
4,320,000
2
20
900
56
32
8
16

kW
Rp/kW
Rp
(annual)
kWh
year
year
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

7.5% per year

13.5% (annual)
9,000 Rp/USD
0.13
0.18
1.06
30%
70%
18.30%
14.94%
6

(capital)
(capital)
(CAPM)
year

PROYEKSI ANALISA KEUANGAN

BALANCE SHEETS
AKTIVA
-

Aktiva Tetap

Aktiva Lain

EKUITAS & KEWAJIBAN

Ekuitas
-

Modal Saham

Saldo Laba

Kewajiban
-

Hutang Jangka Panjang

INCOME STATEMENT
REVENUE
-

Penjualan energi listrik ke PLN

EXPENSE
-

O&M Fixed Cost

Water Cost and Retribution

O&M Variable Cost

Earnings Before Interest Depreciation Amortization and Taxes (EBITDA)

Depresiasi
Earnings Before Interest and Taxes (EBIT)
Interest
Earnings Before Taxes (EBT)
Taxes
Earnings After Taxes (EAT)
CASH FLOW STATEMENT
ALIRAN KAS MASUK
-

Modal Mandiri (Equity)

Modal Pinjaman (Loan+IDC)

Pendapatan Usaha (EAT+Depresiasi)

ALIRAN KAS KELUAR

-

Development Cost (EPC+IDC)

Angsuran Pokok (Principle)

KAS AWAL
KAS AKHIR
OUTPUT OF FINANCIAL ANALYSIS
Net Present Value (NPV)

Internal Rate of Return (IRR)

0
14.94% > WACC =

14.94%

Aliran Kas

Payback Period (PP)

6.57 tahun

Laba Ditahan :

ANALISA FINANSI
Construction Period
0

22,363,812,607

22,145,650,746

21,890,359,613

21,593,729,261

21,251,029,221

20,856,940,046

13,800,235,798

13,110,224,008

12,420,212,219

11,730,200,429

11,040,188,639

10,350,176,849

20,405,475,492
9,660,165,059

8,563,576,809

9,035,426,737

9,470,147,395

9,863,528,832

10,210,840,582

10,506,763,197

10,745,310,434

22,363,812,607

22,145,650,746

21,890,359,613

21,593,729,261

21,251,029,221

20,856,940,046

20,405,475,492

4,140,070,740

5,366,408,921

6,763,155,566

8,355,918,596

10,174,069,475

12,251,290,267

14,626,199,758

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

1,226,338,181

2,623,084,827

4,215,847,857

6,033,998,736

8,111,219,528

10,486,129,019

18,223,741,867

16,779,241,825

15,127,204,047

13,237,810,665

11,076,959,745

8,605,649,779

5,779,275,734

18,223,741,867

16,779,241,825

15,127,204,047

13,237,810,665

11,076,959,745

8,605,649,779

5,779,275,734

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

242,599,962

260,794,959

280,354,581

301,381,175

323,984,763

348,283,620

139,425,266

149,882,161

161,123,323

173,207,572

186,198,140

200,163,000

33,462,064

35,971,719

38,669,597

41,569,817

44,687,554

48,039,120

69,712,633

74,941,080

80,561,661

86,603,786

93,099,070

100,081,500

3,645,400,038

3,627,205,041

3,607,645,419

3,586,618,825

3,564,015,237

3,539,716,380

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

2,955,388,248

2,937,193,251

2,917,633,629

2,896,607,035

2,874,003,447

2,849,704,590

1,592,790,269

1,385,252,533

1,147,896,929

876,439,392

565,980,344

210,916,267

1,362,597,979

1,551,940,718

1,769,736,700

2,020,167,643

2,308,023,103

2,638,788,323

136,259,798

155,194,072

176,973,670

202,016,764

230,802,310

263,878,832

1,226,338,181

1,396,746,646

1,592,763,030

1,818,150,879

2,077,220,792

2,374,909,491

16,584,536,872

1,916,349,971

2,086,758,436

2,282,774,819

2,508,162,669

2,767,232,582

3,064,921,280

4,140,070,740

12,444,466,133

1,916,349,971

2,086,758,436

2,282,774,819

2,508,162,669

2,767,232,582

3,064,921,280

16,584,536,872

1,444,500,042

1,652,037,778

1,889,393,382

2,160,850,919

2,471,309,967

2,826,374,044

16,584,536,872

1,444,500,042

1,652,037,778

1,889,393,382

2,160,850,919

2,471,309,967

2,826,374,044

471,849,929

906,570,586

1,299,952,024

1,647,263,773

1,943,186,389

471,849,929

906,570,586

1,299,952,024

1,647,263,773

1,943,186,389

2,181,733,625

(16,584,536,872)

1,916,349,971

2,086,758,436

2,282,774,819

2,508,162,669

2,767,232,582

3,064,921,280

1,916,349,971

4,003,108,407

6,285,883,226

8,794,045,895

11,561,278,478

14,626,199,758

ANALISA FINANSIAL
TAHUN
7

10

11

12

13

17,167,424,745

19,683,377,401

22,172,162,302

24,631,741,867

27,059,925,695

29,454,359,106

8,970,153,269

8,280,141,479

7,590,129,689

6,900,117,899

6,210,106,109

5,520,094,319

31,812,510,818
4,830,082,529

8,197,271,476

11,403,235,922

14,582,032,613

17,731,623,968

20,849,819,585

23,934,264,786

26,982,428,289

17,167,424,745

19,683,377,401

22,172,162,302

24,631,741,867

27,059,925,695

29,454,359,106

31,812,510,818

17,167,424,745

19,683,377,401

22,172,162,302

24,631,741,867

27,059,925,695

29,454,359,106

31,812,510,818

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

13,027,354,005

15,543,306,661

18,032,091,563

20,491,671,127

22,919,854,955

25,314,288,366

27,672,440,079

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

374,404,892

402,485,259

432,671,653

465,122,027

500,006,179

537,506,642

577,819,641

215,175,225

231,313,367

248,661,870

267,311,510

287,359,873

308,911,864

332,080,253

51,642,054

55,515,208

59,678,849

64,154,762

68,966,370

74,138,847

79,699,261

107,587,613

115,656,684

124,330,935

133,655,755

143,679,937

154,455,932

166,040,127

3,513,595,108

3,485,514,741

3,455,328,347

3,422,877,973

3,387,993,821

3,350,493,358

3,310,180,359

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

2,823,583,318

2,795,502,951

2,765,316,557

2,732,866,183

2,697,982,031

2,660,481,568

2,620,168,569

2,823,583,318

2,795,502,951

2,765,316,557

2,732,866,183

2,697,982,031

2,660,481,568

2,620,168,569

282,358,332

279,550,295

276,531,656

273,286,618

269,798,203

266,048,157

262,016,857

2,541,224,986

2,515,952,656

2,488,784,901

2,459,579,565

2,428,183,828

2,394,433,411

2,358,151,712

3,231,236,776

3,205,964,446

3,178,796,691

3,149,591,355

3,118,195,618

3,084,445,201

3,048,163,502

3,231,236,776

3,205,964,446

3,178,796,691

3,149,591,355

3,118,195,618

3,084,445,201

3,048,163,502

2,181,733,625

5,412,970,401

8,618,934,848

11,797,731,539

14,947,322,894

18,065,518,511

21,149,963,712

5,412,970,401

8,618,934,848

11,797,731,539

14,947,322,894

18,065,518,511

21,149,963,712

24,198,127,215

3,231,236,776

3,205,964,446

3,178,796,691

3,149,591,355

3,118,195,618

3,084,445,201

3,048,163,502

17,857,436,534

21,063,400,981

24,242,197,672

27,391,789,027
Payback !

30,509,984,644

33,594,429,845

36,642,593,347

14

15

16

17

18

19

20

34,131,659,705

36,408,880,554

38,641,028,762

40,824,723,882

42,956,331,932

45,031,946,382

4,140,070,740

3,450,058,950

2,760,047,160

2,070,035,370

1,380,023,580

690,011,790

47,047,367,710
(0)

29,991,588,965

32,958,821,604

35,880,981,603

38,754,688,513

41,576,308,352

44,341,934,592

47,047,367,710

34,131,659,705

36,408,880,554

38,641,028,762

40,824,723,882

42,956,331,932

45,031,946,382

47,047,367,710

34,131,659,705

36,408,880,554

38,641,028,762

40,824,723,882

42,956,331,932

45,031,946,382

47,047,367,710

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

4,140,070,740

29,991,588,965

32,268,809,814

34,500,958,023

36,684,653,143

38,816,261,193

40,891,875,642

42,907,296,971

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

3,888,000,000

621,156,114

667,742,822

717,823,534

771,660,299

829,534,821

891,749,933

958,631,178

356,986,272

383,760,243

412,542,261

443,482,930

476,744,150

512,499,961

550,937,459

85,676,705

92,102,458

99,010,143

106,435,903

114,418,596

122,999,991

132,224,990

178,493,136

191,880,121

206,271,130

221,741,465

238,372,075

256,249,981

275,468,729

3,266,843,886

3,220,257,178

3,170,176,466

3,116,339,701

3,058,465,179

2,996,250,067

2,929,368,822

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

690,011,790

2,576,832,096

2,530,245,388

2,480,164,676

2,426,327,911

2,368,453,389

2,306,238,277

2,239,357,032

2,576,832,096

2,530,245,388

2,480,164,676

2,426,327,911

2,368,453,389

2,306,238,277

2,239,357,032

257,683,210

253,024,539

248,016,468

242,632,791

236,845,339

230,623,828

223,935,703

2,319,148,887

2,277,220,849

2,232,148,209

2,183,695,120

2,131,608,050

2,075,614,449

2,015,421,329

3,009,160,677

2,967,232,639

2,922,159,998

2,873,706,910

2,821,619,840

2,765,626,239

2,705,433,119

3,009,160,677

2,967,232,639

2,922,159,998

2,873,706,910

2,821,619,840

2,765,626,239

2,705,433,119

24,198,127,215

27,207,287,891

30,174,520,530

33,096,680,529

35,970,387,438

38,792,007,278

41,557,633,518

27,207,287,891

30,174,520,530

33,096,680,529

35,970,387,438

38,792,007,278

41,557,633,518

44,263,066,636

3,009,160,677

2,967,232,639

2,922,159,998

2,873,706,910

2,821,619,840

2,765,626,239

2,705,433,119

39,651,754,024

42,618,986,663

45,541,146,662

48,414,853,571

51,236,473,411

54,002,099,650

56,707,532,769

58

59

60

61

62

63

64

65

66

67

68

69

70

71
72

CAPITAL INVESTMENT LOAN

Monthly
Payment

Beginning Balance

(PMT)

Interest

Principle

Ending Balance

12,444,466,133

253,107,526

140,000,244

113,107,282

12,331,358,851

12,331,358,851

253,107,526

138,727,787

114,379,739

12,216,979,112

12,216,979,112

253,107,526

137,441,015

115,666,511

12,101,312,601

12,101,312,601

253,107,526

136,139,767

116,967,759

11,984,344,842

11,984,344,842

253,107,526

134,823,879

118,283,646

11,866,061,196

11,866,061,196

253,107,526

133,493,188

119,614,337

11,746,446,858

11,746,446,858

253,107,526

132,147,527

120,959,999

11,625,486,859

11,625,486,859

253,107,526

130,786,727

122,320,799

11,503,166,061

11,503,166,061

253,107,526

129,410,618

123,696,908

11,379,469,153

10

11,379,469,153

253,107,526

128,019,028

125,088,498

11,254,380,655

11

11,254,380,655

253,107,526

126,611,782

126,495,744

11,127,884,911

12

11,127,884,911

253,107,526

125,188,705

127,918,821

10,999,966,091

13

10,999,966,091

253,107,526

123,749,619

129,357,907

10,870,608,183

14

10,870,608,183

253,107,526

122,294,342

130,813,184

10,739,794,999

15

10,739,794,999

253,107,526

120,822,694

132,284,832

10,607,510,167

16

10,607,510,167

253,107,526

119,334,489

133,773,037

10,473,737,131

17

10,473,737,131

253,107,526

117,829,543

135,277,983

10,338,459,147

18

10,338,459,147

253,107,526

116,307,665

136,799,861

10,201,659,287

19

10,201,659,287

253,107,526

114,768,667

138,338,859

10,063,320,428

20

10,063,320,428

253,107,526

113,212,355

139,895,171

9,923,425,257

21

9,923,425,257

253,107,526

111,638,534

141,468,992

9,781,956,265

22

9,781,956,265

253,107,526

110,047,008

143,060,518

9,638,895,747

23
24

9,638,895,747
9,494,225,798

253,107,526
253,107,526

108,437,577
106,810,040

144,669,949
146,297,486

9,494,225,798
9,347,928,312

25

9,347,928,312

253,107,526

105,164,194

147,943,332

9,199,984,980

26

9,199,984,980

253,107,526

103,499,831

149,607,695

9,050,377,285

27

9,050,377,285

253,107,526

101,816,744

151,290,781

8,899,086,504

28

8,899,086,504

253,107,526

100,114,723

152,992,803

8,746,093,701

29

8,746,093,701

253,107,526

98,393,554

154,713,972

8,591,379,729

30

8,591,379,729

253,107,526

96,653,022

156,454,504

8,434,925,225

31

8,434,925,225

253,107,526

94,892,909

158,214,617

8,276,710,608

32

8,276,710,608

253,107,526

93,112,994

159,994,532

8,116,716,076

33

8,116,716,076

253,107,526

91,313,056

161,794,470

7,954,921,606

34

7,954,921,606

253,107,526

89,492,868

163,614,658

7,791,306,948

35

7,791,306,948

253,107,526

87,652,203

165,455,323

7,625,851,626

36

7,625,851,626

253,107,526

85,790,831

167,316,695

7,458,534,931

37

7,458,534,931

253,107,526

83,908,518

169,199,008

7,289,335,923

38

7,289,335,923

253,107,526

82,005,029

171,102,497

7,118,233,426

39

7,118,233,426

253,107,526

80,080,126

173,027,400

6,945,206,026

40

6,945,206,026

253,107,526

78,133,568

174,973,958

6,770,232,068

41

6,770,232,068

253,107,526

76,165,111

176,942,415

6,593,289,653

42

6,593,289,653

253,107,526

74,174,509

178,933,017

6,414,356,635

43

6,414,356,635

253,107,526

72,161,512

180,946,014

6,233,410,621

44
45

6,233,410,621
6,050,428,965

253,107,526
253,107,526

70,125,869
68,067,326

182,981,656
185,040,200

6,050,428,965
5,865,388,765

46

5,865,388,765

253,107,526

65,985,624

187,121,902

5,678,266,863

47

5,678,266,863

253,107,526

63,880,502

189,227,024

5,489,039,839

48

5,489,039,839

253,107,526

61,751,698

191,355,828

5,297,684,011

49
50

5,297,684,011
5,104,175,430

253,107,526
253,107,526

59,598,945
57,421,974

193,508,581
195,685,552

5,104,175,430
4,908,489,878

51

4,908,489,878

253,107,526

55,220,511

197,887,015

4,710,602,863

52

4,710,602,863

253,107,526

52,994,282

200,113,244

4,510,489,619

53

4,510,489,619

253,107,526

50,743,008

202,364,518

4,308,125,102

54

4,308,125,102

253,107,526

48,466,407

204,641,119

4,103,483,983

55

4,103,483,983

253,107,526

46,164,195

206,943,331

3,896,540,652

56

3,896,540,652

253,107,526

43,836,082

209,271,444

3,687,269,208

57

3,687,269,208

253,107,526

41,481,779

211,625,747

3,475,643,461

58

3,475,643,461

253,107,526

39,100,989

214,006,537

3,261,636,924

59

3,261,636,924

253,107,526

36,693,415

216,414,111

3,045,222,814

60

3,045,222,814

253,107,526

34,258,757

218,848,769

2,826,374,044

61

2,826,374,044

253,107,526

31,796,708

221,310,818

2,605,063,226

62

2,605,063,226

253,107,526

29,306,961

223,800,565

2,381,262,662

63

2,381,262,662

253,107,526

26,789,205

226,318,321

2,154,944,341

64

2,154,944,341

253,107,526

24,243,124

228,864,402

1,926,079,939

65

1,926,079,939

253,107,526

21,668,399

231,439,127

1,694,640,812

66

1,694,640,812

253,107,526

19,064,709

234,042,817

1,460,597,995

67

1,460,597,995

253,107,526

16,431,727

236,675,798

1,223,922,197

68

1,223,922,197

253,107,526

13,769,125

239,338,401

984,583,795

69

984,583,795

253,107,526

11,076,568

242,030,958

742,552,837

70

742,552,837

253,107,526

8,353,719

244,753,807

497,799,031

71
72

497,799,031
250,291,744

253,107,526
253,107,526

5,600,239
2,815,782

247,507,287
250,291,744

250,291,744
0

Loan

Term Of Payment (Year)

1

1,652,037,778

1,889,393,382

Interest

1,592,790,269

1,385,252,533

1,147,896,929

876,439,392

565,980,344

210,916,267

PMT

3,037,290,311

3,037,290,311

3,037,290,311

3,037,290,311

3,037,290,311

3,037,290,311

13,800,235,798

Development Cost (EPC+IDC)

16,584,536,872

Project Investment (EPC+IDC+Interest)

22,363,812,607

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

9,660,165,059
2,784,301,074
12,444,466,133

2,471,309,967

1,444,500,042

Construction Cost (EPC)

2,160,850,919

Principle

2,826,374,044

Total Loan
12,444,466,133
5,779,275,734
18,223,741,867

UNIT ENERGY COST CALCULATION

CAPITAL COSTS
1

Planning and Design

Engineering, Energy Survey, Hydrology Study, Site Survey, Pre-Feasibility
Study Report, Feasibility Study Report, Supervision Fees, Commisioning
Fees, Training Manuals
Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance, Training
For Management
Civil Works

Proportion
of Total Cost
1.37%

Cost
(Rp)
189,063,23

1.37%

189,063,23

50.03%

6,904,257,97

42.18%

5,820,939,46

1.37%

189,063,23

0.00%
3.68%
100.00%
:

507,848,67
13,800,235,79
2,784,301,0

16,584,536,87

Pekerjaan Persiapan, Bendung dan Intake, Kolam Penagkap Pasir (Desand Trap), Saluran Pembawa (Water Way), Kolam Penenang & Pelimpah,
Pipa Pesat (Penstock), Gedung Sentral, Saluran Pembuang, Jalan
masuk/jembatan/gorong-gorong, Kantor & Rm Operator & perlengkapan
4

Electro - Mechanical
Turbin, Governor, Generator, MIV, Transformator Utama, Transformator
pemakaian sendiri, MV Switchgear 20 kV dan 7.2 kV, Kabel Tenaga, dll

Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and Domestic
Connections
Appliances
6
Contingency
7
CAPITAL COST : Engineering Procurement and Construction (EPC) Cost =
IDC = Interest During Construction from construction period
5

interest rate =
equtiy =
Debt =
Grace period =

14%
30%
70%
2

annual
from capital
=
4,140,070,740
from capital
=
9,660,165,059
year Equal to construction period

CAPITAL COST : Project Development

EPC + IDC

RUNNING COSTS
Fixed Annual Operational & Maintenance Costs
Labour for wages (O&M staff), Management Committee (O&M), Specialist
Overhaul, Maintenance, Other
2
Variable Running Costs
O&M Staff Recruitment, initial O&M Training 5-yearly O&M Training
Refresher, Spare Parts, Tools, Materials, Specialist Advice, Repalcement
Equipment, Other
Water Cost (Water Rental & Retribution)
3
Contingency
4
Estimated total yearly running cost (O&M)
Capital Cost Project Investment expressed as an annual (Cannual)
Cannual + (O&M)
=
Total Annual Cost
=
Calculation of Unit Energy Cost:
1

10.0%

139,425,2

5.0%

69,712,6

2.4%
2.4%
19.8%
80.2%
100%

33,462,0
33,462,0
276,062,0
1,118,190,6
1,394,252,6

Capacity Factor
Capacity Installed
Term of Payment
Depreciation period
Unit Energy Cost

:
:
:
:
:

50.00%
1,000
6
20
323

Annual Running Costs

Component A
: Recovery Cost
Component B
: O&M Fixed Cost
Component C
: Water Cost
Component D
: O&M Variable Cost
Contingency
Unit Energy Cost

kW
year
year

Rp/kWh

Equal to energy sales contract terms

=
=
=
=
=
=

259
32
8
16
8
323

Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh
Rp/kWh

Operasional Cost
64
+

Cost
(Rp)
189,063,230

189,063,230

6,904,257,970

5,820,939,460

189,063,230

0
507,848,677
13,800,235,798
2,784,301,074

16,584,536,872

139,425,266

69,712,633

33,462,064
33,462,064
276,062,026
1,118,190,630
1,394,252,656

Operasional Cost
Rp/kWh

Loan For EPC

IDC for 2 years Construction
Capital Investment Loan

9,660,165,059
2,784,301,074
12,444,466,133

Construction Cost (EPC)

Development Cost (EPC+IDC)
Project Investment (EPC+IDC+Interest)

13,800,235,798
16,584,536,872
22,363,812,607

RECAPITULATION OF CAPITAL COST

SCOPE OF WORKS
1 Planning and Design

Proportion of
Total Cost
1.37%

Cost
(Rp)
189,063,230

1.37%

189,063,230

50.03%
2.73%
5.50%
2.80%
10.89%
3.50%
17.70%
2.80%
0.69%
2.73%
0.69%
42.18%
21.77%

6,904,257,970
376,746,437
759,012,969
386,406,602
1,502,845,678
483,008,253
2,442,641,736
386,406,602
95,221,627
376,746,437
95,221,627
5,820,939,460
3,004,311,333

20.41%

2,816,628,126

1.37%

189,063,230

0.00%
3.68%
100.00%

0
507,848,677
13,800,235,798

Engineering, Energy Survey, Hydrology Study, Site Survey, PreFeasibility Study Report, Feasibility Study Report, Supervision Fees,
Commisioning Fees, Training Manuals
2 Management and Finance
Institution Formation, Funding Procurement, Legal & Insurance,
Training For Management
3 Civil Works
3.1 Pekerjaan Persiapan (Access Road)
3.2 Bendung dan Intake
3.3 Kolam Penagkap Pasir (De-sand Trap)
3.4 Saluran Pembawa / Water Way
3.5 Kolam Penenang & Pelimpah
3.6 Pipa Pesat
3.7 Gedung Sentral
3.8 Saluran Pembuang
3.9 Jalan masuk/jembatan/gorong-gorong
3.10 Kantor & Rm Operator & perlengkapan
4 Electro - Mechanical
4.1 Mechanical
Turbin, Governor, Inlet Valve, Assembly Joint.
4.2 Electrical
Generator, Trafo, Panel Control, Switch Gear, Trafo
Pemakaian Sendiri.
5 Distribution of Electricity
Transmission Lines (Jaringan Tegangan Menengah 20kV) and
Domestic Connections
6 Appliances
7 Contingency
TOTAL CAPITAL COST

START UP BUDGET PLAN OF CIVIL WORKS

SCOPE OF CIVIL WORKS
1

Pekerjaan Persiapan
1.1 Jalan Proyek (Access Road)
1.2 Fasilitas Kontruksi
Pekerjaan Bendung dan Intake
2.1 Bangunan Pengelak
2.2 Galian
2.3 Pemasangan batu kali 1 : 4
2.4 Pasangan Beton Cor 1 : 2 : 3
2.5 Penulangan Besi Beton
2.6 Pekerjaan Pintu Pengurang Bend
2.7 Pekerjaan Pintu Pengambilan
2.8 Pekerjaan Pembuatan Saringan
2.9 Biaya Lain-lain / tak terduga
Pekerjaan De-sand Trap
3.1 Galian
3.2 Pasangan Batu Kali 1:4
3.3 Pasangan Beton Cor 1:2:3
3.4 Pekerjaan Pintu Kuras Pasir
3.5 Biaya Lain-lain / tak terduga
Pekerjaan Saluran Pembawa
4.1 Galian
4.2 Pasangan Batu Kali 1:4
4.3 Pasangan Beton Cor 1:2:3
4.4 Gorong-gorong
4.5 Jembatan
4.6 Biaya Lain-lain / tak terduga
Pekerjaan Bak Penenang
5.1 Galian
5.2 Pasangan Batu Kali 1:4
5.3 Pasangan Beton Cor 1:2:3
5.4 Penulangan Besi Beton
5.5 Pembuatan Pintu Kuras
5.6 Pembuatan Pintu Air Masuk Pp
5.7 Pembuatann Tangga Turun
5.8 Pekerjaan Saluran Penguras
5.9 Pekerjaan Bangunan Pelimpah
5.10 Biaya Lain-lain / tak terduga
Pekerjaan Pipa Pesat (Penstock)
6.1 Galian
6.2 Pasangan Batu Kali 1:4
6.3 Pasangan Beton Cor 1:2:3
6.4 Penulangan Besi Beton
6.5 Pipa Pesat / Penstok & Las
6.6 Angker Blok
6.7 Sadel Pipa Pesat & Packing
6.8 Sand Blasting

Unit Price
Price (Rp)
per Unit

Total
Unit

170,296,918
301,889,991

ls
ls

1
1

960,000
260,000
560,000
1,450,000
850,000
17,335,654
26,003,481
29,718,264
74,295,659

m3
m3
m3
m3
kg
set
set
set
ls

232
1,429
796
102
105
3
2
1
1

260,000
560,000
1,450,000
18,105,417
30,175,695

m3
m3
m3
set
ls

696
453
83
1
1

260,000
560,000
1,450,000
925,000
1,645,000
68,909,777

m3
m3
m3
m'
m'
ls

2,120
763
143
30
59
1

260,000
560,000
1,450,000
850,000
11,155,416
33,466,247
5,577,708
560,000
560,000
27,888,539

m3
m3
m3
kg
set
set
set
m'
m'
ls

686
199
38
52
1
1
1
90
70
1

260,000
560,000
1,450,000
850,000
939,024
486,080,000
129,969,447
54,153,936

m
m
m
kg
m'
m'
set
ls

292
116
97
102
265
0.07
1
1

6.9 Pengecatan Pipa Pesat

6.10 Pembuatan Saringan Pada PP
6.11 Bifurcation
6.12 Sabuk Pipa Pesat
6.13 Biaya Lain-lain / tak terduga
7 Pekerjaan Gedung Sentral PLTM
7.1 Galian
7.2 Pasangan Batu Kali 1:4
7.3 Pasangan Beton Cor 1:2:3
7.4 Kontruksi Baja H-Beam
7.5 Kontruksi Beton
7.6 Kontruksi Atap Baja Ringan
7.7 Alat Angkat (crane) +/- 20 t
7.8 Saluran Kabel
7.9 Saluran Buang (De-watering)
7.10 Tangga besi/beton
7.11 Pengecatan
7.12 Biaya Lain-lain
8 Saluran Pembuang
8.1 Galian
8.2 Pasangan Batu Kali 1:4
8.3 Pasangan Beton Cor 1:2:3
8.4 Biaya Lain-lain
9 Jalan Masuk / Access Road
9.1 Pekerjaan Jembatan
9.2 Pekerjaan Gorong-gorong
9.3 Biaya Lain-Lain
10 Rumah Operator & Kantor
9.1 Rumah Operator
9.2 Kantor & Perlengkapan
9.3 Biaya Lain-lain
TOTAL COST OF CIVIL WORKS

43,323,149
21,661,574
108,307,872
21,661,574
54,153,936

ls
set
set
set
ls

1
1
1
1
1

260,000
560,000
1,450,000
1,650,000
1,450,000
726,000
32,905,525
154,665,000
103,110,000
6,581,105
6,581,105
32,905,525

m
m
m
kg
m
kg
set
m
m
set
ls
ls

380
141
77
80
59
54
1
0.13
0.13
1
1
1

260,000
560,000
1,450,000
12,763,802

m3
m3
m3
ls

373
160
39
1

2,300,000
1,200,000
13,944,270

m'
m'
ls

67
93
1.00

2,200,000
52,530,794
6,566,349

m2
ls
ls

32.83
1.00
1.00

IL WORKS
Indeks = 1
Proportion
Cost (Rp)
of Total Cost
472,186,910
6.84%
170,296,918
2.47%
301,889,991
4.37%
1,485,913,181
21.52%
222,886,977
3.23%
371,478,295
5.38%
445,773,954
6.46%
148,591,318
2.15%
89,154,791
1.29%
52,006,961
0.75%
52,006,961
0.75%
29,718,264
0.43%
74,295,659
1.08%
603,513,894
8.74%
181,054,168
2.62%
253,475,835
3.67%
120,702,779
1.75%
18,105,417
0.26%
30,175,695
0.44%
1,378,195,543
19.96%
551,278,217
7.98%
427,240,618
6.19%
206,729,331
2.99%
27,563,911
0.40%
96,473,688
1.40%
68,909,777
1.00%
557,770,787
8.08%
178,486,652
2.59%
111,554,157
1.62%
55,777,079
0.81%
44,621,663
0.65%
11,155,416
0.16%
33,466,247
0.48%
5,577,708
0.08%
50,199,371
0.73%
39,043,955
0.57%
27,888,539
0.40%
1,083,078,724
15.69%
75,815,511
1.10%
64,984,723
0.94%
140,800,234
2.04%
86,646,298
1.25%
249,108,107
3.61%
32,492,362
0.47%
129,969,447
1.88%
54,153,936
0.78%

43,323,149
21,661,574
108,307,872
21,661,574
54,153,936
658,110,505
98,716,576
78,973,261
111,878,786
131,622,101
85,554,366
39,486,630
32,905,525
19,743,315
13,162,210
6,581,105
6,581,105
32,905,525
255,276,048
97,004,898
89,346,617
56,160,731
12,763,802
278,885,394
153,386,966
111,554,157
13,944,270
131,326,984
72,229,841
52,530,794
6,566,349

0.63%
0.31%
1.57%
0.31%
0.78%
9.53%
1.43%
1.14%
1.62%
1.91%
1.24%
0.57%
0.48%
0.29%
0.19%
0.10%
0.10%
0.48%
3.70%
1.41%
1.29%
0.81%
0.18%
4.04%
2.22%
1.62%
0.20%
1.90%
1.05%
0.76%
0.10%

6,904,257,970

100%