Replacement of an old CHP for a new one on the touristic sector: energetic and economic analysis

Abstract

The aim of this study is to analyse the technical and economic potential of a real situation concerning the acquisition of a new cogeneration natural gas facility in a given company, replacing the actual existing one working with fuel oil (at the end of its useful life, 18th years old) for energy supplies to the users. The economic risk associated with the investment project in a cogeneration plant lies in the possibility to check if the operating results are consistent with the originally planned study of economic and technical feasibility. For that, besides the energetic analysis carried out, a detailed economic analysis was done in order to evaluate its feasibility and risk regarding the main parameters to be taken in account, namely the NPV (Net Present Value), IRR (Internal Rate of Return) and Payback Period. The influence of fluctuations of the selling prices of the electricity to the main grid, of the fuel costs, of the initial investment and of the company production on the stated parameters were studied. The main conclusions to be withdraw are that those fluctuations that always happens, influence the final decision to be taken. Thus, the "business" of cogeneration should be managed by experts and should be viewed in terms of investment as one more equipment associated with the production unit whose goal will be to increase the global competitiveness of the productive unit.