The economic viability of a thermal power plant: a case study
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The economic viability of a thermal power plant: a case study Ravinder Kumar1 · Mohammad H. Ahmadi2 · Dipen Kumar Rajak3 Received: 13 December 2019 / Accepted: 11 May 2020 © Akadémiai Kiadó, Budapest, Hungary 2020
Abstract The present paper deals with the economic viability of a coal-fired power plant (CFPP) situated in the northern part of India. The plant with a capacity of 250 MW at various load conditions has been evaluated from an economic point of view. The present worth method is used for the evaluation of CFPP. Revenue earned, operating cost, fuel cost, insurance cost, maintenance cost, pumping cost and net present value are evaluated w.r.t interest rate, number of employees, and plant life. The payback period and the impact of various factors on plant net present value is assessed by taking plant life as 30 years. With the increase in interest rate, all the cost decreases for fixed plant life of 30 years. However, operating cost increases with the increase in the number of employees. Also, with the increase in plant life, all type of cost increases, however after 25 years, the net present value starts decreasing according to the present study. The result of this study concludes that the payback period of the plant is 10 years. It is expected that the outcomes of this case study will be beneficial for future researchers. Keywords Economic viability · Present worth method · Coal-fired power plant · Net present value · Payback period List of symbols BFP Boiler feed pump Ccc Coal cost per tone Cep Current price of electricity CEP Condensate extraction pump Ci Component cost COND Condenser Co Plant total operating cost DC Drain cooler HPT High-pressure turbine HPH High-pressure feedwater heater i Interest rate IPT Intermediate pressure turbine JNCT Condensate collector MW Capacity of plant * Ravinder Kumar [email protected]; [email protected] * Mohammad H. Ahmadi [email protected] Dipen Kumar Rajak [email protected] 1
School of Mechanical Engineering, Lovely Professional University, Phagwara, Punjab 144411, India
2
Faculty of Mechanical Engineering, Shahrood University of Technology, Shahrood, Iran
3
Department of Mechanical Engineering, Sandip University, Nashik 422213, India
LPT Low-pressure turbine LPH Low-pressure feedwater heater nL Number of personal employed NPVlifetime Net present value pl Plant life Ran Total revenue earned Uphr Plant availability Greek symbols 𝜍 Factor for direct installation 𝜆pump Pump efficiency ξ Engineering and plant start-up factor
Introduction Electricity is required for different activities of human being, and it seems that industrial activities are impossible without it. Several technologies are applicable for electricity generation such as thermal power plants, wind turbines and solar PV panels [1–4]. Conventional and unconventional resources are used in process industries. Conventional resources, oil or gas, can be extracted in a direct manner and thereby economically, however, unconventional resources are
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