Servicio de Información Comunitario sobre Investigación y Desarrollo - CORDIS

Economic assessment

Integrated production of PO and CHP was assessed in Fnland. Pyrolysis plant is integrated to an existing CHP power plant. The power plant is based on fluidized-bed boiler. Consumer prices for light (LFO) and heavy fuel oil (HFO) in Finland are used as reference prices. Consumer price for the LFO has varied between 30 and 40 euro/MWh during the time of the project.

Two economic estimates are shown for pyrolysis oil:
- Production cost is estimated using the annuity method for valuating capital costs.

- Internal rate of return (IRR) is calculated assuming a lower price for pyrolysis liquid fuel to take into account higher transportation and increased utilisation costs compared to LFO.

Using 8.3 /GJ (30 /MWh) as a value for the liquid biofuel an internal rate of return of 10 % is calculated (pre-tax). IRR is especially sensitive for sales price and yield and to a lesser extent to investment cost.

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