Presentation on theme: "15 MW Geothermal Energy Plant Stephen Mc Loughlin Stephen Devlin Paul O Reilly Mark Flanagan."— Presentation transcript:
15 MW Geothermal Energy Plant Stephen Mc Loughlin Stephen Devlin Paul O Reilly Mark Flanagan
Benefits of Geothermal Energy Not dependant on climate – Available 24/7 Secure, Reliable and Unlimited Energy Supply Decreases dependency on fossil fuels Price of energy will not change Low Emissions and Visual impact No Air or Water Pollution Only small amount of land required Running costs are very low
Budget & Finance Figures not correct, this is just basic idea for the slide Research, geophysical surveys and test drilling – 4 Million Planning and consultations – 2 million Cost of Transmission Line – 4Million. Cost of plant build – 20 Million Assumed Online Availability Factor = 95% Operation and Maintenance Costs for Plant and Field in cents/kWh = 1c Production prices of about 5-7 cent per KWh once running Electricity Sales Price in cents/kWh = 12 cents Money made from Electricity Sales Price in cents/kWh = 5 cents Average Cost of Production Well = 10 million Average Cost of Injection Well = 10 million Total Capital Costs of the Geothermal Power Project per kW = 50M Total Capital Costs of the Geothermal Power Project per kW – 3000Euro Payback Period = 10 – 15 years
Budget & Finance
Risk – Barriers High initial capital costs. Environmental risk – fines and penalties. Planning, permit and legislation – any changes hold up project. Inappropriate funding schemes Inappropriate legal framework Geographical risk–Tremors, land subsidence, temperature decline Pre build risks – survey errors and research oversight. Failure of Equipment or injection/production Wells Cost over runs over the life of the project.
Risk Mitigation Government cost sharing and grant schemes. Large database of research and operation projects. Be informed of up to date technical information and associated risk. Tax incentives. Funding From Sustainable Energy Authority (SEAI) Having a Power Purchase Agreement in place - help to raise financial support European geothermal fund scheme– GEOFUND Guaranteed loan structure.
Project plan & Timeline
Finding A Suitable Location High Temperature Gradient Possibly at a natural fault line (Fracture) Near Transmission or a large Industry Near Supply of Water for Cooling Good Surrounding Infrastructure Reasonably priced Land – Private Local Community impacts and planning