- , , , , -

: , , .

:

- , -

-

- -

-

. -

4

- .

-

-

-

8- / - 9- / - 10- /

3- / 6

2- / 2

5- / - - 5

4- / - - 4

7- / -7

6- / - - 31-

18109 ::: ::

:6-

-

1354 - / - - . - ( 39) / - (2014-2016 .) 1 - -245 - ( - 2016 .) 3 - / - ( - 2014 .) 267891011122 - 6- . / - 7- / 8- - 9- . ( . / - - ) 10- / . - . . 11- / - . . 12 - / / -18 -120

: :111-

-

- ,,,, ,, ,,

,, ,, , ,,,,,,, , .

/ .

. . -- -

-

, . . 2014 .2030 .64,60128,957,5316,610,4219,511,0938,47,6924,111,6318,550,89757,6752,37,8826,110,4065,48,9734,323,4624,2514,1075,99,8563,99,9594,713,1229,905,6323,28,6121,14,318,43,5816,6:285,75857,1

-

857,1 .

,

.

, 2020 -

2659.2

76,0 ..

423,9.2

12,1 ..

131.2

4,9 ..

806,5 .2

23,0 ..

26,2 .2

0,75 ..

, 2030 . 200 . -

, -

- 45 . . 170 . .

-

- ,

,,, ,, , ,,,,

,, ,, , ,,,,,

-

,,, -

. -31 %49 %15 %3 %1 %1 %

,

30,4 %35,6%32 %,

1,2 %0,9 %0,9 %1 %1 %

,

,

, -

,

-

. . . . .-

-,

: - - : - ()

() () () - - -

-

,

- ,

, 2011

, 2013 , 2011 , 2013

- -

-

-

.. .

-

-

-

-

,

-

-

1 2

1 1234562 3 4 / /5 6 / /

:

-

2

1 1 2 3 4

1

3

2

44

5

9

7

6

8

105 6 7 118 9 10 1 2 11 1 - 2 44 /3 4 5 6 6-7 8

123456678 -

-

: -

-

. .. . -

-

:

-

:

- / ,. . IIIIIIIIIIII1234567891011 1 212814,0016465,00-29279,00----2 2152832,003197,0036579,00192608,00770,2120,95239,701030,863 27062,0031091,00-38153,0067,48214,02-281,504 2260040,001312,36 5 110-220 /3/3,4--3/3,4566,42--566,426 330 /--1/111/11--847,33847,337 /4/14,41413,75 8 4,5--4,5271,93--271,939 2,5--2,5856,35--856,3510 7,01128,28 11 271368,8430345,9651485,00153 199,8012 016, 0688 217, 5747 332, 29227 565, 93412 224 000,0020 570,0023 500,0068 070,0013 :2198 111,56133 782,24119 369,84451 263,64155 935,56106 142,88119 369,84381 448,28 42 176,0027 639,36-69 815,3614 :266 826,1972 350,3942 380,09181 556,6736 746,6860 921,6742 380,09140 048,44 30 079,5111 428,72-41 508,2315 :3916 911,15759 517,02415 335,242 091 763,41 678 793,77576 407,28415 335,241 670 536,29238 117,38183 109,74-421 227,1216 27 565, 93417 31 420,324

-

1 2 3 4235,82004235,82+/017535,42017535,42- 73729,5558852,5150123,68182705,74-37233,3744915,99082149,36 13651,951537,579611,26*24800,78**69260,8710940,7559634,9139836,52198111,56133782,24119369,84451263,64

* , ** , -

-

- , , \ ,

-

234567981

: PR, GR, IR

10

SPV (EPC)

213546 (SPV + + ) - EPC , . -

- : (. .)

3 118 341 1 771 110 31 858 881

, ..:34 120 876- 1 068 527 30 790 355 2 261 994 10 266 971 964 856 347 340 400 448 480 31 858 88131 858 881 3 118 3412 261 994856 347 1 771 110982 230788 880

33

-

201520162017201820192020202120222023205320541 2 3

1 2 3 3 3 3 37 35 33

()40NPV (.)17 624 ()16,33 25% (.)6 725 ( )4,1% (IRR)24,9%

- - - , , , - .

-