They shall set forth, in general terms, the nature and extent of the experience of the applicant in the business of developing, generating, transmitting, distributing, using or selling hydraulic or hydro-electric power, together with the facts relied upon to satisfy the commission, as required by subdivision 5 of section 616 of the act above referred to, that, financially and otherwise he is reliable and responsible and capable of consummating the project for which he seeks a license.