Implementing Nuclear Power Generation In Abu Dhabi Engineering
- LITERATURE REVIEW
- CONCEPT OF A NUCLEAR REACTOR
- Fig. Nuclear fission of Uranium-235
- Fig. 2 An explosive concatenation reaction
- TYPES OF NUCLEAR REACTORS
- Nuclear Fission Reactors
- Thermal fission reactors
- Fig. 3 ( a ) Pressurized light H2O reactor
- Fig. 3 ( B ) : Outline of a Pressurized Light Water Reactor nucleus
- Fig. 4 Advanced gas-cooled reactor
- Nuclear Fusion Reactors
- NUCLEAR FUEL CYCLE
- Fig. 5 ( a ) The unfastened fuel rhythm
- Fig. 5 ( B ) The closed fuel rhythm
- BENCHMARK OF POWER GENERATION IN THE U.A.E
- Table 1 Phases of the atomic power station building
- Agenda FOR Construction
- Approximate Power end product capacity ( in MW )
- Accumulative Power end product capacity ( in MW )
- Table 2 Electricity demand from twelvemonth 2003-2009
- Fig. 6 Statistical one-year electricity demand
- ELECTRICITY FORECAST ( by twelvemonth 2030 )
- Fig. 7 Official electricity demand prognosis layout by ENEC ( Emirates Nuclear Energy Corporation )
- Table Electricity prognosis ( 2010-2030 )
- Fig. 8 Electricity demand prognosis ( 2010-2030 )
- Sector wise electricity prognosis dislocation
- Table 5 Sector-wise electricity prognosis
- POWER DEMAND ( IN MW )
- Percentage DISTRIBUTION ( IN % )
- Residential / Commercial mega-projects
- Fig. 9 Sector-wise dislocation of electricity prognosis
- Residential and commercial electricity prognosis ( twelvemonth 2030 ) dislocation
- Table 6 Residential and commercial sectors electricity demand prognosis
- Residential / Commercial type
- Power demand ( in MW ) in footings of 8162 MW
- Percentage distribution ( in % )
- Fig. 10 Breakdown of the residential and commercial sectors electricity prognosis
- Industrial sector electricity prognosis ( twelvemonth 2030 ) dislocation
- Fig. 11 Breakdown of the industrial sector electricity prognosis
- FEASIBILITY ANALYSIS
- Structure of the feasibleness analysis
- Fig. 12 Structure of the feasibleness analysis
- Cost and Payback period analysis of Nuclear Power coevals
- Nuclear reactor specifications
- Fig. 13 Capital investing dislocation
- Fig. 14 Hierarchy of employee rewards outflow
- Table 7 Capital hard currency flow analysis
- Figure 15: Capital hard currency flow analysis ( Net cumulative hard currency flow values plotted )
- Cost and payback analysis of power from renewable energy beginning
- Wind factory specifications
- Comparison of power coevals and payback period of power atomic and weave energy
- Figure 16: Nuclear power V air current power
TheA recent increased usageA of fossil fuels for power coevals and transit, necessary for theA industrial enlargement, A have resulted in theA U.A.E’sA increasing part to the degree of CO2 emanations at the planetary degree. This major issueA combined with the state ‘s economic dependence on depletingA Oil and Natural gasA reservesA highlightsA the demand for an alternate power source.A The benefits of using Nuclear energy resources must be considered as an option, nevertheless there are legion factors which must be consideredA to find the viability of such a undertaking. This undertaking focuses on the economic feasibleness of integrating atomic power coevals in the Emirate of Abu Dhabi, U.A.E.A A comprehensive survey of current and future energy demandsA is carried out, full graduated table cost analysis is so used to detail the return on investing in power footings. Finally a comparing is drawn against renewable energy power production, in order to determine the full feasibleness of the undertaking as a feasible hereafter energy resource.A A
In the twelvemonth 2000, atomic power Stationss were lending about a sixth of the universe ‘s entire electricity demand which together was turning at a gait of 2.5 % every twelvemonth. However from the twelvemonth 1998-2001, the planetary atomic power capacity could n’t pull off to maintain gait with the 3-4 % one-year planetary electricity demand. [ 1 ]
At the terminal of 2001, there were over 400 reactors in commercial operation in 31 different states, with entire end product capacity of about 360GWe and one-year power end product of merely under 2500 TWh. About a one-fourth of all the reactors are in United States of America, France and Japan each with over 50 reactors together account for another one-fourth. The UK and Russia have about 30 each and no other state in the count has more than 20. [ 1 ] Most of them in operation today use atomic fission reactions 4/5th of which are light H2O reactor types. In a atomic fission reactor, atomic reactors heat H2O to bring forth steam at prescribed force per unit areas and temperatures. The generated steam is so expanded in a steam turbine where its thermic energy is transferred into kinetic energy to revolve the turbine shaft which is coupled to a generator to bring forth electricity.
Even though the construct of atomic energy has been capable to controversy since its origin, but still is sighted in front of its current challengers such as power Stationss runing on dodo fuels which are the major beginnings of CO2 emanations a premier factor for the addition in planetary heating. Areas of concern such as crude-oil scarceness which presently is consuming at a planetary rate of about 85 million barrel a twenty-four hours, is besides a major ground for focal point on the development and incorporation of atomic power. To set U.A.E in similar position, which is presently the 6th largest petroleum oil manufacturer in the universe, the depletion figures touch about 2500 barrels a twenty-four hours. [ 2 ] Furthermore, the U.A.E. being the 4th largest manufacturer of Natural gas, is presently importing gas from Qatar ( at an Import to Export ratio equal to 1 ) who presently have the 2nd largest natural gas modesty in the universe for the following 200 old ages. [ 3 ] Hence relief of these dependence factors trigger the state to implement atomic power coevals for run intoing its electricity demand despite vigorous resistance spying its downsides such as menace to public-service corporation in doing arms of mass devastation, human operational jeopardies etc.
1 Mohamed S. El-Genk ( 2008 ) , analyzed the challenges in run intoing the hereafter energy demands of electricity and fresh H2O in the GCC states and recommends to procure 30 % of future demands of electricity and procedure heat for industrial applications and seawater desalinization from atomic power by 2030 sing assorted economic challenges. Upon analysis, the paper summarized that the vision by the GCC on tackling atomic energy is seasonably and suggested the addition in per centum of atomic energy use from 30 % to 80 % , but with some important layout programs in the integrating of the atomic power workss to help in the decrease of the electricity coevals costs, doing it comparable to that presently generated utilizing fossil fuels. [ 4 ]
2 Mohamed M. Megahed ( 2008 ) , discussed his findings on the feasibleness survey of atomic power and desalinization works in Egypt ( at the El-Dabaa site ) , carried out by the Nuclear Power Plants Authority ( NPPA ) . The cardinal ground for this survey being the H2O scarceness in the state due to the over-utilized hydro-energy from River Nile. The paper concluded the building of atomic power works at the proposed site location, to bring forth electricity and drinkable H2O as technically executable, economically convenient and financially feasible. [ 5 ]
3 Erkan Erdogdu ( 2008 ) , evaluated the present planetary position of atomic power in general and its deductions on the Turkish energy market. Furthermore, the reverberations of atomic power on the Turkish energy market were focused upon. The rating concluded urging the part of atomic power in the Turkish energy market to be on the lower side during the initial phases, but in the longer run it was recommended to be retained and widened capable to its cost effectives amongst viing challengers. [ 6 ]
4 Jong H. Kim and Chauncey Starr ( 2000 ) , analysed the planetary issue of equilibrating demand and supply of energy with environmental debasement based on which, atomic power was sighted to be robust in run intoing the demand by bring forthing electricity harmoniously with the environment. The analysis concluded by attesting atomic power as most appropriate in lending towards the ‘global electrification procedure ‘ which would finally fulfill the aim. [ 7 ]
5 Ibrahim S. A1-Mutaz ( 2001 ) , analysed the use of atomic energy in supplying fresh H2O through desalinization procedure in the Arabian Gulf states, where desalinization is cardinal to H2O mass production, together with rapid addition in power demand. In this procedure, assorted desalinization methods were reviewed upon for examination. The research paper concluded the construct and execution of atomic desalinization to be practical and indispensable in the Arabian Gulf states in run intoing the power and fresh H2O demand while maintaining the cost effectivity of the full procedure in cheque. [ 8 ]
6 Masanori Tashimo and Kazuaki Matsui ( 2008 ) , analysed the major proficient and institutional facets in accomplishing optimum use of atomic energy to run into the intensively turning demand of energy in the Asiatic states. It is concluded that atomic power use would play a cardinal function in run intoing the planetary energy demand due to the claimed cost effectivity of atomic electricity even over the renewable energy beginnings. [ 9 ]
All the diary documents reviewed above site the critical importance of utilizing atomic energy for power coevals and desalinization to run into the quickly increasing demand for energy at the planetary degree in the current every bit good as longer tally.
With regard to the ongoing undertaking in the emirate of Abu Dhabi, U.A.E, the edifice and commissioning of a quad-reactor atomic power station brings huge benefits non merely due to its emission-free end product, but its significance in relieving the state ‘s major dependence on oil and natural gas for bring forthing its electricity demands.
CONCEPT OF A NUCLEAR REACTOR
A atomic reactor converts atomic energy into heat utilizing radioactive decay or fission which is a atomic reaction in which the heavy karyon of an atom disintegrates into smaller parts bring forthing free neutrons as shown in Figure 1. In atomic fission, when a neutron is absorbed by a big fissionable atomic karyon such as Uranium-235, Plutonium-239 or Plutonium-241, the end point happens to be atomic fission in which the original heavy karyon interruptions down into two or more than two karyons ( lighter than the parent karyon ) and seemingly let go ofing kinetic energy, gamma radiation and free neutrons. These are jointly known as fission merchandises [ 10 ] and this full procedure is known as atomic concatenation reaction. Theoretically, the rate of energy end product by the reactor is straight relative to the rate of atomic fission.
Fig. Nuclear fission of Uranium-235
Figure 2 shows an explosive concatenation reaction of U-235. The highlighted country shows the fission procedure of the above figure. Two of the free neutrons from this fission originate farther fissions, from each of which two more continue the procedure, and so on. To accomplish this rate of generation, a high concentration of U-235 is required.
Fig. 2 An explosive concatenation reaction
The above procedure is controlled utilizing neutron moderators and toxicants which modifies the fraction of neutrons that result in the fission procedure rhythm. As such, a neutron moderator is a neutralizing medium which reduces the speed of the fast neutrons, change overing them into thermic 1s capable of prolonging atomic concatenation reactions affecting Uranium-235. Almost 75 % of atomic reactors in the universe usage regular H2O as the atomic moderator. Apart from that, solid black lead and heavy H2O are used at a lower ratios [ 1, 10 ] .
Apart from moderators, an extra chilling agent known as a atomic reactor coolant is circulated through the reactor nucleus to off-set for the generated heat. The coolant used is gas, liquid metal or molten salt. The heat taken off from the reactor and is so used to bring forth steam [ 11 ] .
Theoretically, the power of heat generated by a atomic reactor is about million clip more than that generated by a mass of coal. The heat generated as such is due to the transmutation of kinetic energy of fission merchandises to thermal energy when inter-collision of atomic atoms occurs. Heat is besides generated by the gamma and radioactive beams which get absorbed by the reactor nucleus during the atomic fission procedure.
TYPES OF NUCLEAR REACTORS
The categorization of a atomic reactor is chiefly based upon its reaction types, which are as follows:
Nuclear Fission Reactors
As mentioned earlier, they are the most normally used reactors at the commercial degree today and are divided into the undermentioned sub-categories:
Thermal fission reactors
These type of reactors use thermic neutrons, which contain certain neutron moderator stuffs to decelerate neutrons until their kinetic energy approaches the mean kinetic energy of the surrounding atoms. This procedure is technically known as neutron thermalization. These thermic neutrons have a higher chance to fission the karyon of Uranium-235, Plutonium-239, and Plutonium-241, and a comparatively lower chance of neutron gaining control by Uranium-238 compared to the faster neutrons that originally result from fission, leting usage of low-enriched U or even natural U fuel. Uranium and Pu are used as reactor fuel and H2O is used as a moderator and the coolant excessively. [ 1 ] . These reactors are farther classified as Light H2O reactors and Boiled H2O reactors.
Light Water Reactors
They are farther divided into Pressurized Water Reactors ( PWR ‘s ) and Boiled Water Reactors ( BWR ‘s )
Pressurized Water Reactors ( PWR )
As mentioned earlier, four-fifth of the atomic reactors in the current planetary atomic power Stationss are Light H2O reactors ( LWR ‘s ) , and three one-fourth of these are Pressurized Water reactors ( PWR ‘s ) which have a theoretical capacity of bring forthing 3000 MW ‘s of thermic power and uses Uranium enriched up to 3.5 % i.e. 3.5 % of U-235. The net fuel capacity is about 75 metric tons. [ 1 ]
Fig. 3 ( a ) Pressurized light H2O reactor
Fig. 3 ( B ) : Outline of a Pressurized Light Water Reactor nucleus
Boiler Water reactor ( BWR )
These reactors work on similar rule as PWR ‘s but for a cardinal difference that the H2O that acts as a coolant and moderator is itself allowed to boil and lend as steam for the turbines, which eliminates the steam generator from the apparatus. Even though, this contributes to be decrease and heat losingss, the overall efficiency of BWR ‘s in comparing to that of PWR ‘s does n’t change much attributed to the lower temperature and force per unit area, the former operates at compared to the latter. [ 1, 11 ]
Advanced Gas-cooled Reactors ( AGR )
These reactors use graphite moderator and C dioxide coolant, but the coolant was enriched to 2.3 % and in the signifier of Uranium Oxide. An lineation of this is shown in Figure 8. This engineering was adopted in 1964 into the UK ‘s future atomic power coevals programme, and a sum of seven twin-reactor ( 2 x 660 MW ) power Stationss were finally completed, all of which are still in operation [ 1 ] . In comparing to the PWR, the AGR ‘s carry a structural difference i.e. the nucleus is made of solid black lead unlike PWR ‘s unfastened lattice incorporating thin tubings. It is nine metres across and pierced by several 100s of perpendicular channels skiding into which, are the fuel bunchs which are itself about 2000 short and lumpy 1s in figure. The C dioxide gas coolant is pumped through the nucleus at a force per unit area of about 40 ambiances, and gas temperatures every bit high as 600oC were ab initio estimated, but has non been achieved yet owing to certain troubles. [ 1 ]
Fig. 4 Advanced gas-cooled reactor
Furthermore, the force per unit area vas in the AGR is a monolithic strengthened concrete construction, a system claimed by the developers of AGR to hold overcome the opportunities of monolithic failure than that of the steel vas in the PWR ‘s. The ability of the heavy black lead nucleus to absorb heat in the event of the chilling system failure, is besides claimed to be a important advantage of AGR. But interestingly, the construct of planned online refuelling i.e. refuelling without the demand to close down the full system, though highlighted to be another cardinal advantage over PWR ‘s has n’t proven to be successful in pattern.
Nuclear Fusion Reactors
This is a procedure by which two lighter karyon combine together to organize a heavy karyon. Upon this, soaking up of energy takes topographic point, which allows affair to come in the plasma province. As a affair of fact, atomic merger is the procedure that powers the stars, including the Sun and is the beginning of about all the energy keeping the Earth ‘s clime and its life existences. Presently, this type of atomic reaction is still confined to the research where efforts are made to accomplish controlled merger power utilizing karyons of two Hydrogen isotopes. One of these isotopes heavy hydrogen ( hydrogen-2 ) which is correspondent to the heavy H2O used as a moderator in fission reactors. The other one is tritium ( hydrogen-3 ) . But, we are non traveling into item on this subject since H, as a atomic fuel is non incorporated in atomic applications at a commercial degree. [ 1, 14 ]
NUCLEAR FUEL CYCLE
A atomic fuel rhythm is a complete sequence of events from the original primary energy up to the concluding productive end product. This is done in order to measure chiefly the complete costs, environmental and societal effects of the energy system. It is segmented into two types i.e. Open fuel rhythm and Closed fuel rhythm:
Fig. 5 ( a ) The unfastened fuel rhythm
Fig. 5 ( B ) The closed fuel rhythm
BENCHMARK OF POWER GENERATION IN THE U.A.E
The cardinal grounds for the incorporation of atomic power coevals in the U.A.E are, to relieve their major dependence on Oil and Natural gas for gross and power coevals and to cut down their part towards C footmarks.
Presently, the net electric power coevals capacity in the UAE utilizing conventional ( fossil fuel, coal etc ) and non conventional ( solar, weave etc ) resources is around 6000 – 7000 MW [ 15 ] . Upon completion of these mega atomic power station undertaking which is divided into three stages as shown in Table 1, about 25 % of U.A.E ‘s electric power ( 5000 MW ) [ 15 ] is officially expected to be generated by atomic workss. This figure will increase over the old ages depending upon the overall policy of the authorities. The net value of this undertaking is around $ 40 billion.
In August 2009, Emirates Nuclear Energy Co-operation ( ENEC ) , the main incorporators of this undertaking, have delayed the BOT ( Buy, Operate, Transfer ) contract award, without short-listing the bidders. The contract award day of the month will depend on the dialogues with the three command groups. In August 2009, ENEC was expected to shortlist two command groups out of three ( the short-listing deadline was antecedently set to 27 July 2009 ) . Apparently, they declined to shortlist two bidders due to the similarity in the offers submitted [ 15 ] .
As of 14th September 2009 and as shown in Table 2, the agenda for the building of the atomic power Stationss is set together with the expected power end product. The atomic power station will consist of four advanced third-generation PWR ( Pressurized Light Water ) reactors whose building is segmented into three stages.
Table 1 Phases of the atomic power station building
Agenda FOR Construction
Approximate Power end product capacity ( in MW )
Accumulative Power end product capacity ( in MW )
Phase 1 ( consisting the preliminary apparatus and first tworeactors ) power works building to get down
Phase 1 ( consisting the preliminary apparatus and first tworeactors ) building to be complete
1400 x 2 = 2800
Phase 2 ( consisting thirdreactor ) building to be complete
Phase 3 ( consisting fourthreactor ) building to be complete
Electricity demand and supply in the emirate of Abu Dhabi ( 2003 – 2009 ) is summarized in Table 2 and diagrammatically shown in Figure 6.
Table 2 Electricity demand from twelvemonth 2003-2009
Power consumed ( MW )
Fig. 6 Statistical one-year electricity demand
ELECTRICITY FORECAST ( by twelvemonth 2030 )
Electricity demand prognosis in the emirate of Abu Dhabi and the other emirates ( 2010 – 2030 ) is diagrammatically shown in Figure 7.
Fig. 7 Official electricity demand prognosis layout by ENEC ( Emirates Nuclear Energy Corporation )
Table 4 is a reproduction of the informations from Figure 7.
Table Electricity prognosis ( 2010-2030 )
Electricity demand prognosis ( Abu Dhabi ) in MW
Electricity demand prognosis ( Abu Dhabi+Northern Emirates ) in MW
The values in Table 4 are diagrammatically represented in Figure 8
Fig. 8 Electricity demand prognosis ( 2010-2030 )
Sector wise electricity prognosis dislocation
Table 5 is a sector-wise dislocation of the electricity prognosis ( for the twelvemonth 2030 ) in the emirate of Abu Dhabi.
Table 5 Sector-wise electricity prognosis
POWER DEMAND ( IN MW )
Percentage DISTRIBUTION ( IN % )
Supply to Dubai and Northern Emirates
Residential / Commercial mega-projects
ADNOC ( Abu Dhabi National Oil Company )
Transmission and distribution losingss
Figure 9 is a reproduction of informations from Table 5.
Fig. 9 Sector-wise dislocation of electricity prognosis
In Figure 9, part of electricity supply to Dubai and Northern Emirates is ignored from the analysis as the focal point of demand is within the emirate of Abu Dhabi. Hence, Residential/commercial megaproject ( interrupt down mentioned under ) lead the sector-wise electricity demand prognosis with the highest per centum of 27. Following it are industrial and ADNOC ( Abu Dhabi National Oil Company ) refinery demands severally. Furthermore, this order of demand prognosis is officially deemed by ADDC ( Abu Dhabi Distribution Company ) , the exclusive H2O and electricity direction company in the emirate.
Residential and commercial electricity prognosis ( twelvemonth 2030 ) dislocation
Table 6 shows a dislocation of electricity demand by the residential and commercial sectors in the emirate of Abu Dhabi.
Table 6 Residential and commercial sectors electricity demand prognosis
Residential / Commercial type
Power demand ( in MW ) in footings of 8162 MW
Percentage distribution ( in % )
Al Bateen Park
Baniyas shopping Promenade
Al Wathba development
The above tabular array is represented in the signifier of a pie chart as under:
Fig. 10 Breakdown of the residential and commercial sectors electricity prognosis
In Figure 10, The ‘Capital District ‘ is a building undertaking which will be built seven kilometers inland South of Abu Dhabi island, between Mohammed bin Zayed City and Abu Dhabi International Airport. The new territory will be the place of the UAE ‘s federal authorities, and one of the cardinal centerpieces of Plan 2030. The building of this undertaking is deserving $ 40B and presently leads the residential / commercial sectors demand forecast sheet.
Apart from its importance at the constitutional degree, this undertaking will besides hold a to the full integrated conveyance system binding in to the remainder of the conveyance web, including a high velocity rail service, metro railroad and regional rail connexions. Upon completion, the Capital City District ( covering approx. 4,900 hectares of land ) will function as a 2nd business district for Abu Dhabi proper and will be place to over 370,000 occupants. [ 16 ]
Industrial sector electricity prognosis ( twelvemonth 2030 ) dislocation
Figure 11 shows a dislocation of the industrial sector electricity prognosis ( twelvemonth 2030 ) in the emirate of Abu Dhabi.
Fig. 11 Breakdown of the industrial sector electricity prognosis
Structure of the feasibleness analysis
Figure 12 shows the algorithm of the feasibleness survey.
Fig. 12 Structure of the feasibleness analysis
Cost and Payback period analysis of Nuclear Power coevals
Nuclear reactor specifications
Max power o/p by the atomic power station: 5600 MW [ 15 ]
Max power end product expected to be harnessed at the initial phase: 4000 MW ( However, in the computations, the net capacity of the power station is taken into history )
Capital cost: US $ 40,000,000,000 [ 15 ]
Hourss of public-service corporation: 20 hrs/day * 365 days/year = 7300 hours/year
Life span: 30 old ages ( at extremum public-service corporation )
Electricity bring forthing efficiency: 80 %
Power end product is 5600 MW and end product efficiency = 80 % implies, power input or power consumed = 5600 / 0.80 = 7000 MW
Power consumed per twelvemonth = 7300 * 7000 = 51,100,000 MWhr
Power end product per twelvemonth = 7300 * 5600 = 40,880,000 MWhr
Figure 13 shows the capital investing dislocation.
Fig. 13 Capital investing dislocation
Investing spread over the reactor life clip: US $ 40,000,000,000 / 30 old ages = US $ 1,300,000,000 / twelvemonth
Yearly Operational & A ; care costs: 0.20 Dhs/kWh = 0.20 * end product power = 0.20 * 40,880,000,000 = US $ 12,264,000,000
The entire cost per twelvemonth = US $ 1,300,000,000 + 12,264,000,000 = US $ 13,564,000,000 = US $ 13.56 billion
The cost of electricity per kWh = 13,564,000,000 * 100 / 40,880,000,000 = 0.28567 Dhs/kWh or 28 fils/kWh
Figure 14 shows the hard currency escape on employee rewards distribution.
Fig. 14 Hierarchy of employee rewards outflow
The salary figures in Figure 14 are all inclusive of adjustment, transit, insurance, fringe benefits. Overtime is non considered since it is non included in the employment policy. However, there is a one-year increase of 10 % for employees of all classs every twelvemonth.
Cash flow analysis
Table 7 shows the overall undertaking hard currency flow based on the above available deliberate parametric quantities of capital investing, cost of electricity, care costs, employee rewards etc.
Table 7 Capital hard currency flow analysis
Table 7 is diagrammatically represented in Figure 15.
Figure 15: Capital hard currency flow analysis ( Net cumulative hard currency flow values plotted )
From Table 7, the net income earned at the terminal of the reactors life span ( twelvemonth 2047 ) is around US $ 36 billion. The cost of decommissioning this full atomic power station is statistically the net cost of buying, constructing the atomic power station. From Figure 20, the de-commissioning figures touch around US $ 15 billion.
As shown in Table 7, the net net income attained after de-commissioning the power station in the twelvemonth 2048 will be US $ 36,000,000,000 – 15,000,000,000 = US $ 21 billion
Net Present Value:
Value of an sum V upon n old ages is given by the equation:
… … … … … … … … … ( 1 )
– Value after n old ages ( over here, including the life span of the reactor )
– Present value
– Discount rate [ 1 ]
Rearranging combining weight. ( 1 ) will give, present value:
… … … … … … … … … … … . ( 2 )
Therefore the present value spread over n old ages will be etc etc… .
Where R is the rate of price reduction = 5 % , n= 38 old ages ( 2010-2048 )
V1, V2, V3 are taken from the net hard currency flow values from Table 7.
The Net Present Value of US $ 21 billion at the terminal of the undertaking is calculated to be = US $ 3,282,202,602 = US $ 3 billion
From Figure 15 and Table 7, the net payback period of the capital investing is straight calculated to be about 12 old ages i.e. from the Year 2017 ( clip of commissioning the first stage of the power station ) to Year 2029 ( break-even point, when the cumulative hard currency flow turns positive )
The power generated by the atomic power station during the payback period =
[ ( 20,440,000,000 / 7300 ) + ( ( 30,660,000,000 / 7,300 ) * 2 ) + ( ( 40,880,000,000 / 7,300 ) * 10 ) = 67,200,000 KW in the payback period of 12 old ages
Cost and payback analysis of power from renewable energy beginning
Given the same country of land and capital investing as for the atomic power station undertaking, computation of power coevals from a renewable energy beginning is calculated. In this undertaking, weave energy is taken into consideration.
Fixed parametric quantities are the net country of land available, 4 Km2 and the capital investing, US $ 40,000,000,000.
Wind factory specifications
Wind turbine theoretical account: GEenergyTM industrial air current power unit
Maximal power end product capacity ( presuming air current velocities to be optimum ) : 2 MW [ 17 ]
Cost of the turbine ( including installing ) : US $ 3.5 million / turbine
Area occupied by each air current factory ( including safety factor ) a‰? 76 estates = 310,000 M2 [ 17 ]
Hence with the land available, wind Millss can be constructed which have a extremum end product capacity of ( 13*2 ) MW = 26 MW
The payback clip of air current power coevals utilizing the maximal figure of windmills in the available country to bring forth 67,200,000 KW ( refer to sub-sub subdivision 8.2.3 ) will be:
= 67,200,000 KW / 26,000 KW a‰? 2500+ old ages
Comparison of power coevals and payback period of power atomic and weave energy
From subdivision 8.2.1 and subdivision 8.3.1, a individual atomic reactor with extremum capacity 1600 MW ( refer to Postpone 1 ) occupies 324,000 M2 whereas, a air current factory busying about the same country as a atomic reactor has a end product capacity of merely 2MW. As a consequence, the payback period figures of power from air current energy turns to be far less than that of power from atomic energy.
Finally the payback period of the air current power turns out to be less than that of atomic power in an utmost dimension.
From Table 7 under subdivision 6.4, the rows highlighted in blue, mark the commissioning of stages ( refer Table 1 ) of the power station. The row highlighted in green, marks the point when the cumulative hard currency flow turns positive i.e. the break-even point. Hence, the clip from the beginning of commissioning ( 2017 ) up to the point highlighted in green ( 2029 ) is the Pay-back period. Old ages 2047 and 2048, mark the terminal of the atomic reactors life span and its decommissioning severally. The cumulative hard currency flow in the twelvemonth 2048 is the net net income of the undertaking.
The Net Present Value under sub-sub-sub subdivision 220.127.116.11, defines the undertaking as be acceptable and profitable since NPV is greater than nothing. [ 20 ]
Comparing the payback period of the atomic power station to that of renewable energy beginning under sub-section 8.4 and as shown in Figure 16, given a fixed country of land and capital, atomic power coevals outperforms wind power or any other renewable energy beginning for that ground, due to its highest ratio of power end product to occupied infinite and capital.
Figure 16: Nuclear power V air current power
Based on the feasibleness analysis, atomic power coevals ascertains a high value amongst challengers from renewable energy beginnings owing to its shear power bring forthing capacity.