part 1: overview of cogeneration and its status in asia - Fire

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180 Part3: Summary of country studies – Bangladesh and Viet Nam tax rate seems highly unlikely for the energy generation sector. Therefore, the steam turbine option with oil fired boilers should be very much feasible. Projects with reciprocating engines operating with heavy fuel oil do not seem to be affected adversely by high tax rates. Only one case of a textile industry will have IRR below the hurdle rate if the tax rate exceeds 25 per cent, and in another case of rubber factory, the threshold of tax rate is 15 per cent. Again, these tax rates seem high for the energy sector.
Summary of country study – Viet Nam 4.4 Conclusions and Recommendations for Follow-up Actions 1 Conclusion Cogeneration is an important issue in the National Energy Conservation & Efficiency Master Plan of Viet Nam. Cogeneration can be applied in big and medium scale factories, centralized industrial estates and commercial building complexes where power, heating and cooling are required. Beside, Cogeneration can be applied also in agriculture for post-harvest processing. The wide application of Cogeneration technology can bring positive effects on energy conservation, production cost reduction, and environment protection of the country as well as the region. Cogeneration technology has been employed in Viet Nam since a very long time (Viêt Trì and Hà Bác industrial zones, Cogido paper mill, sugar mills) but it has not been widely propagated. Cora supermarket has recently set up a cogeneration facility in order to generate high quality and reliable power as well as meet the cooling demands. Results of the techno-economic and sensitivity studies undertaken for selected sites show that the financial viability of a cogeneration project is strongly affected by the energy demand pattern, system configuration and fuel type. The purchase price of electricity also strongly affects the IRR. It can be considered as a key-factor in the consideration of alternatives. The IRRs of steam turbine option vary from 20 per cent for oil fired boilers to above 30 per cent with coal-fired boilers. The IRR of coal fired steam turbine cogeneration is not affected by the change of investment cost whereas the oil fired option can be unfeasible if there is more than 15 per cent increase in the investment. The heavy fuel oil would be the most suitable fuel for reciprocating engine option since it can lead to very high IRR. The escalation in fuel price does not have any adverse impact on coal-fired steam turbine cogeneration, but the IRR of oil fired option is sensitive to hikes in fuel prices. Tax rates beyond 25 per cent can affect some of the cogeneration projects, but these rates can be considered too high for the energy sector in Viet Nam. Therefore, enterprises opting for cogeneration presently need not give importance to the effect of tax rate on their project’s financial feasibility. There is so far no official document about taxation on energy generated by unconventional plants. Recommendation for follow-up actions The first objective to consider for effective promotion of cogeneration in Viet Nam is to satisfy the energy demand of the cogenerator. The sale of excess electricity is important but it should not be considered as the first priority. By taking care of their energy demand through self-generation and cogeneration, big energy consumers can reduce a part of the burden on the electricity sector. Most of industrial factories in Viet Nam is out-dated and are in the process of renovating their facilities. There are a lot of new investment projects in industrial and commercial sectors that provide an ideal occasion for promoting cogeneration. 1 These conclusions and recommendations are based on the deliberations of participants in the South-East Asia Sub-Regional Seminar organized at Ho Chi Minh City on 9 November 1998 and at Hanoi on 10 and 11 November 1998. The programme details of the Seminars are included in Appendix 4A. 181
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PART 1: OVERVIEW OF COGENERATION AN
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4 Part I: Overview of cogeneration
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State of art review of cogeneration
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Policy framework for promoting coge
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Cogeneration in Asia today 49 1.1 I
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Cogeneration in Asia today 51 4,000
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Cogeneration in Asia today 53 1.3 T
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Cogeneration in Asia today 55 1.3.3
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Cogeneration in Asia today 61 1.7 R
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Cogeneration in Asia today 63 Every
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Cogeneration in Asia today 65 Cogen
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68 Part II: Cogeneration experience
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Cogeneration experiences around the
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PART 3: SUMMARY OF COUNTRY STUDIES
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Sample case study in a pulp and pap
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