Small Decentralized Hydropower Program National ... - Cd3wd.com

todos sus compromises financieros. Si este fuere el
case, el analisis financier0 indicarb la extension de1
deficit de1 proyecto, permitiendc la elaboraci6n de
planes para satisfacer dicho deficit.
Se ejecuta el antiisis financier0 media&e la com-
paracion de ios recibos dei proyecto con 10s desem-
bolsos en base anual o m&s frecuente. El an$i.lisis da
cuenta de ios servicios de deuda pero ignora 10s
articulos que no implican gastos, tales corn0 la
depreciacibn. Dependiendo de1 pak y el tipo de
organizaci6n, 10s efectos de las tasas pod&n ser im-
portantes. La Table 3 ilustra el analisis financier0
usando la information de1 ejemplo presentado
anteriormente. N6tese que atin un proyecto con una
Ario
Year
costos costs
Tabla 3
Table 3
Ejemplo de Analisis Financier0
Example of Financial Analysis
Incremental Analysis. Frequently, a hydro pro-
ject can be formuiated in many different ways
which represent reiatively minor changes to the
main project. The question usually being asked is
should a change in the project that increases
cost, but also increases output, be made. A
typical situation would be to determine if the size
of the penstock should be increased to reduce
hydraulic losses and consequently increase pro-
ject output.
A proper anaiytical approach to this question
is to analyze the increment in benefits versus the
increment in costs. If this incremental benefit/
cost ratio is greater than one, the proposed
Servicio
de !a Deuda OM&R2 Total Beneficios
Debt
Service1 OM&R2 Total Benefits
Flujo de Efectivo
(Costo-Beneficios)
Cash Flow
(Cost-Benefits)
1 56,536 16,500 73,036 67,375 5,661
2 56,536 18,150 74,686 74,112 574
3 56,536 19,965 76,501 81,524 5,023
4 56,536 21,961 1 a,-;37 89,676 11,179
5 56,536 24,158 80,694 98,644 17,950
6 56,536 26,573 83,109 108,508 25,399
7 56,536 29,231 85,767 119,359 33,592
8 56,536 32,154 88,690 131,295 42,605
9 56,536 35,369 91,905 144,424 52,516
10 56,536 38,906 95,442 158,867 63,425
11 5c,536 42,797 99,333 174,753 75,420
12 56,536 47,076 103,612 192,229 88,617
13 56,536 51,784 108,320 211,452 103,132
14 56,536 56,962 113,498 232,597 119,099
15 56,536 62,659 119,195 255,856 136,661
Notes:
1 $375,000 a 12.5 porciento por 15 adios. El faLtor de1 prestamo equivale a .15076.
2 Operaci6n, manknimiento y repuestos.
1 $375,000 at 12.5 percent for 15 years. Loan factor equals .15076.
2 Operation, maintenance, and replacements.
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