Table 11 shows a summary of costs for scenario 1 (SF, 300 kg/s, 240°C) calculated as expla<strong>in</strong>ed <strong>in</strong>previous sections. The capital costs estimated accord<strong>in</strong>g to this methodology for a different <strong>geothermal</strong>resource (mass flow and temperature) and different <strong>power</strong> <strong>plant</strong> technology will be used as <strong>in</strong>put <strong>in</strong> thef<strong>in</strong>ancial model<strong>in</strong>g <strong>in</strong> Section 6. Figure 32 illustrates the breakdown of the total capital cost of<strong>geothermal</strong> development for scenario1. This <strong>in</strong>cludes all the costs associated with total <strong>in</strong>vestmentwhere the <strong>plant</strong> cost is approximately 50%, the drill<strong>in</strong>g cost is 27%, exploration and confirmationcosts total 8%, the <strong>power</strong> l<strong>in</strong>e transmission cost is 8% and the steam gather<strong>in</strong>g system cost is 7%.TABLE 11: Estimated cost of <strong>geothermal</strong> <strong>power</strong> <strong>plant</strong> developmentfor s<strong>in</strong>gle-flash scenario 1 (27.7 MW): 300 kg/s and 240°CCategorySub-CategoryNom<strong>in</strong>al ValueValueUnitsExploration 173 USD/kwExplorationConfirmation 173 USD/kwTotal Exploration 346 USD/kwKnown Field 504 USD/kwDrill<strong>in</strong>gUnknown Field 1,047 USD/kwTotal Drill<strong>in</strong>g 1,047 USD/kwSteam Gather<strong>in</strong>g 279 USD/kwPower PlantEquipment and Costruction 1,964 USD/kwTransmission Power L<strong>in</strong>e 840,000 USD/kmTotal Power Plant 2,546 USD/kwO&M Total O&M 2.8 USD¢/kwh5.6.1 Capital cost of s<strong>in</strong>gle-flash <strong>power</strong> <strong>plant</strong>Figure 33 shows the specific capital cost (SCC) of SF <strong>in</strong> USD/kW for exploration and confirmation,drill<strong>in</strong>g and <strong>power</strong> <strong>plant</strong> as a function of the resource temperature for different mass flows. The SCCdecreases as the resource temperature <strong>in</strong>creases from 160 to 340°C. SCC for SF <strong>power</strong> <strong>plant</strong>s varies4,000Plant (300 kg/s) Plant (600 kg/s) Plant (1000 kg/s)Drill<strong>in</strong>g (300 kg/s) Drill<strong>in</strong>g (600 kg/s) Drill<strong>in</strong>g (1000 kg/s)Expl. & Conf.Specific Capital Cost [USD/kW]3,5003,0002,5002,0001,5001,0005000160 180 200 220 240 260 280 300 320 340Resource temperature [°C]FIGURE 33: Specific capital cost of <strong>geothermal</strong> development for SF <strong>power</strong> <strong>plant</strong>37
from 3,474 to 2,028 USD/kW for 300 kg/s; from 2,928 to 2,002 USD/kW for 600 kg/s; from 2,736 to2,000 USD/kW for 1,000 kg/s. SCC for SF drill<strong>in</strong>g varies from 2,090 to 721 USD/kW for 300 kg/s;from 1,295 to 610 USD/kW for 600 kg/s; from 977 to 566 USD/kW for 1,000 kg/s.5.6.2 Capital cost of double-flash <strong>power</strong> <strong>plant</strong>Plant (300 kg/s) Plant (600 kg/s) Plant (1000 kg/s)Drill<strong>in</strong>g (300 kg/s) Drill<strong>in</strong>g (600 kg/s) Drill<strong>in</strong>g (1000 kg/s)Expl. & Conf.4,0003,500Specific Capital Cost [USD/kW]3,0002,5002,0001,5001,0005000160 180 200 220 240 260 280 300 320 340Resource temperature [°C]FIGURE 34: Specific capital cost of <strong>geothermal</strong> development for DF <strong>power</strong> <strong>plant</strong>Figure 34 shows the specific capital cost (SCC) of DF <strong>in</strong> USD/kW for exploration and confirmation,drill<strong>in</strong>g and <strong>power</strong> <strong>plant</strong> as a function of the resource temperature for different mass flows. Thespecific costs decrease as the resource temperature <strong>in</strong>creases from 160 to 340°C. SCC for DF <strong>power</strong><strong>plant</strong>s varies from 3,761 to 1,745 USD/kW for 300 kg/s; from 3,070 to 1,616 USD/kW for 600 kg/s;from 2,736 to 1,594 USD/kW for 1,000 kg/s. SCC for DF drill<strong>in</strong>g varies from 1,893 to 701 USD/kWfor 600 kg/s; from 1,196 to 600 USD/kW for 600 kg/s; from 1,025 to 560 USD/kW for 1,000 kg/s.5.6.3 Capital cost of organicRank<strong>in</strong>e cycle <strong>power</strong> <strong>plant</strong>Figure 35 shows the specific capitalcost (SCC) <strong>in</strong> USD/kW forexploration and confirmation,drill<strong>in</strong>g and <strong>power</strong> <strong>plant</strong> as afunction of the resource temperaturefor different mass flows. Thespecific costs decrease as theresource temperature <strong>in</strong>creases from100 to 180°C. SCC for ORC <strong>power</strong><strong>plant</strong>s varies from 3,020 to 1,325USD/kW for 300 kg/s; from 2,729to 1,223 USD/kW for 600 kg/s;from 2,646 to 1,215 USD/kW for1,000 kg/s. SCC for ORC drill<strong>in</strong>gvaries from 8,103 to 1,305 USD/kWfor 300 kg/s; from 4,302 to 902USD/kW for 600 kg/s; from 2,781to 741 USD/kW for 1,000 kg/s.Specific Capital Cost [USD/kW]8,0007,0006,0005,0004,0003,0002,0001,000Drill<strong>in</strong>g (300 kg/s) Drill<strong>in</strong>g (600kg/s) Drill<strong>in</strong>g (1000kg/s)Plant (300 kg/s) Plant (600kg/s) Plant (1000kg/s)Expl. & Conf.0100 120 140 160 180Resource temperature [°C]FIGURE 10: Specific capital cost of <strong>geothermal</strong>development for ORC <strong>power</strong> <strong>plant</strong>38
- Page 1 and 2: GEOTHERMAL TRAINING PROGRAMMEHot sp
- Page 3 and 4: This MSc thesis has also been publi
- Page 5 and 6: ACKNOWLEDGEMENTSMy gratitude to the
- Page 7 and 8: TABLE OF CONTENTSPage1. INTRODUCTIO
- Page 9 and 10: PageAPPENDIX A: FINANCIAL MODEL ...
- Page 12 and 13: 1. INTRODUCTIONRecent research on r
- Page 14 and 15: 2. CENTRAL AMERICAN DATA2.1 Power p
- Page 16 and 17: 2.2.3 HondurasThe Honduran electric
- Page 18 and 19: NET INJECTION BY SOURCE (2010)INSTA
- Page 20 and 21: income taxes for a period of 10 yea
- Page 22 and 23: annual temperature ranges from 17 t
- Page 24 and 25: egional reconnaissance in 1981ident
- Page 26 and 27: 4. GEOTHERMAL ELECTRICAL POWER ASSE
- Page 28 and 29: The net contribution of that power
- Page 30 and 31: Introducing , = , and , = ,
- Page 32 and 33: 9ProductionWellBoiler5Turbine~1046P
- Page 34 and 35: TABLE 3: Parameters and boundary co
- Page 36 and 37: eaches the maximum limit, and for h
- Page 38 and 39: 160180140160tc vap[i], th vap[i]120
- Page 40 and 41: average results, and combining them
- Page 42 and 43: The base cost ( ) can be calculate
- Page 44 and 45: calculation for another separator c
- Page 46 and 47: mass flow rate (kg/s) on the plant
- Page 50 and 51: 5.6.4 Comparison of capital costs b
- Page 52 and 53: 6. FINANCIAL FEASIBILITY ASSESSMENT
- Page 54 and 55: 6.2 Model structureThe financial fe
- Page 56 and 57: CCF = EBITDA − ∆Working Capital
- Page 58 and 59: Interest on loansFleischmann (2007)
- Page 60 and 61: IRR30%25%IRR CapitalIRR Equity20%Si
- Page 62 and 63: FIGURE 42: Allocation of funds for:
- Page 64 and 65: 340IRR Free Cash Flow to Equity [ %
- Page 66 and 67: flash technology is between 0.3 and
- Page 68 and 69: Energy Price Availability Factor O&
- Page 70 and 71: FIGURE 50: Density and cumulative p
- Page 72 and 73: In Chapter 6, Figure 44 illustrated
- Page 74 and 75: The internal rate of return is offs
- Page 76 and 77: Cengel, Y. and Tuner, R., 2005: Fun
- Page 78 and 79: IEAb, 2011: Technology roadmap: Geo
- Page 80 and 81: Salmon, J., Meurice, J., Wobus, N.,
- Page 82 and 83: APPENDIX A: SUMMARY OF FINANCIAL MO
- Page 84 and 85: APPENDIX C: INVESTMENT AND FINANCIN
- Page 86 and 87: APPENDIX E: BALANCE SHEETBALANCE SH