TECHNO ECONOMY OCEAN THERMAL ENERGY CONVERSION STUDY AT BANDA SEA, MALUKU
The increasing demand for electricity is closely tied to the progress of the industrial sector and population growth over time. However, this trend is accompanied by the depletion of fossil fuels, which serve as the primary source of electrical energy. Ocean Thermal Energy Conversion (OTEC) emerg...
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| Format: | Final Project |
| Language: | Indonesia |
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| Online Access: | https://digilib.itb.ac.id/gdl/view/78210 |
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| Institution: | Institut Teknologi Bandung |
| Language: | Indonesia |
| Summary: | The increasing demand for electricity is closely tied to the progress of the industrial
sector and population growth over time. However, this trend is accompanied by the
depletion of fossil fuels, which serve as the primary source of electrical energy.
Ocean Thermal Energy Conversion (OTEC) emerges as one of the latest options
for green and renewable energy sources. Indonesia possesses significant potential
for OTEC development due to its equatorial location, resulting in higher sea surface
temperatures compared to non-equatorial regions. One of the promising locations
for OTEC construction is the Banda Sea, characterized by its deep waters and a
temperature difference between the sea surface and deep waters of approximately
28?. In the development of OTEC, there are several challenges, especially from
the financial aspect, such as production prices which are still relatively high.
Therefore, a financial feasibility study is needed for the ocean current power plant
to be built in the Banda Sea. Using multilinear regression, 3 fitting scenarios were
obtained ranging from optimistic, moderate, and pessimistic scenario, whilst the
optimistic is chosen having the biggest potential out of all. The scenario based on
the electricity distribution area is divided into two regions, Seram Island and Buru
Island. To increase the revenue and the possibility of feasibility, clean water and
fish & shrimp export demand are added. Using the data collected, CAPEX, OPEX,
Loan, Instalment with 5 years payback period, and LCOE are determined. There
are several parameters that can measure the feasibility of the financial aspects of a
project, Net Present Value (NPV), and Benefit Cost Ratio (B/C) with , an interest
rate of 8.5% and an inflation rate of 3.22% are used. The estimated Commercial
Operation Date from OTEC varies, 2041 and 2056 until 2071, 2030 and 2045 until 2060, 2051 and 2066 until 2080, lastly 2035 and 2050 until 2065 with a service life
of 30 years for each scenario. The results obtained from the financial analysis are
that OTEC is not feasible to be built in the Banda Sea in every scenario. |
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