part 1: overview of cogeneration and its status in asia - Fire
part 1: overview of cogeneration and its status in asia - Fire
part 1: overview of cogeneration and its status in asia - Fire
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Summary <strong>of</strong> country study – Viet Nam<br />
Net present value (Million Dong) 25,897 13,687 129,808 31,015<br />
Pay back period (year) 7 10 6 7<br />
As shown <strong>in</strong> the table, all options give favourable IRR. This can be expla<strong>in</strong>ed by the fact that<br />
the electricity price charged by the utility to the factory is very high. Currently, the hotel has to<br />
pay 0.11 US$ / kWh due to <strong>its</strong> commercial <strong>and</strong> service classification.<br />
The diesel eng<strong>in</strong>e <strong>cogeneration</strong> system with thermal match<strong>in</strong>g option seems to be most<br />
attractive if excess electricity can be sold to the grid. It requires an <strong>in</strong>itial <strong>in</strong>vestment <strong>of</strong> about<br />
140 billion VND (equivalent to 10 million US$), <strong>in</strong>clud<strong>in</strong>g the <strong>in</strong>vestment required for the<br />
absorption chiller system, <strong>and</strong> leads to an <strong>in</strong>ternal rate <strong>of</strong> return <strong>of</strong> 29.6 per cent.<br />
4.3.8 Summary <strong>of</strong> the pre-feasibility studies<br />
The results obta<strong>in</strong>ed with different prime movers are summarized below:<br />
Steam turb<strong>in</strong>e<br />
The steam turb<strong>in</strong>e <strong>cogeneration</strong> appears to be an attractive option because <strong>of</strong> the favourable<br />
IRR obta<strong>in</strong>ed for the different projects.<br />
Table 4.10 Summary <strong>of</strong> results for steam turb<strong>in</strong>e <strong>cogeneration</strong><br />
Factory Fuel type Excess heat Excess power IRR<br />
(TJ/year) (MWh/year) ( per cent)<br />
Textile mill “A” H.F.O. 0 -27,745 19.9<br />
H.F.O. 0 -23,101 19.9<br />
Textile mill “B” H.F.O. 0 -32,682 20.0<br />
Textile mill “C” Coal 0 - 20,517 31.7<br />
Coal 596 0 17.1<br />
Paper mill “D” H.F.O. 0 -34,149 19.8<br />
Paper mill “E” Coal 0 -19,197 37.1<br />
Coal 295 0 34.9<br />
H.F.O. 0 -19,197 24.6<br />
Rubber factory “H” Coal 0 - 4,047 30.9<br />
Hotel “F” H.F.O. 0 -2,171 25.6<br />
H.F.O. 84 0 20.0<br />
As shown <strong>in</strong> Table 4.10, fuel type strongly affects the project attractiveness. Coal is the most<br />
suitable fuel type because <strong>of</strong> <strong>its</strong> low price. Consider<strong>in</strong>g thermal match with coal as fuel, the<br />
IRR can exceed 30 per cent, whereas it is only around 20 per cent with fuel oil.<br />
The f<strong>in</strong>ancial performance also varies from one <strong>in</strong>dustrial sub-sector to another. In textile <strong>and</strong><br />
paper sub-sectors, IRR is around 20 per cent for the fuel oil fired boilers. Because <strong>of</strong> the high<br />
electricity tariff applied by the utility to the commercial <strong>and</strong> service sector, the IRR can<br />
exceed 25 per cent.<br />
The highest IRR (37 per cent) is obta<strong>in</strong>ed for the paper sub-sector with coal fired boiler.<br />
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