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Assessment of the Costs of Geothermal Power Generation in New Zealand Table 6-2 Estimated Steamfield Development Costs (2007) 50 MWe Steamfield System ‐ NZD 20 MWe Steamfield System ‐ NZD Overseas NZ Item Description SF, GCCU, Dual flash ORC steam SF, GCCU, Dual flash ORC steam Cost Cost 1 Preliminaries & General 2,800,000 3,300,000 1,500,000 1,800,000 0% 100% 2 Civil / Structural Works 9,700,000 11,400,000 5,300,000 6,200,000 0% 100% ` ` 3 Mechanical Works 14,800,000 17,500,000 6,200,000 7,400,000 40% 60% 4 Control & Instrumentation 500,000 600,000 200,000 300,000 80% 20% 5 Electrical Work 500,000 500,000 200,000 200,000 0% 100% 6 Miscelllaneous 1,000,000 1,000,000 600,000 600,000 10% 90% 7 Engineering and Design 3,200,000 4,000,000 1,800,000 2,200,000 20% 80% Total Estimated EPC cost 32,500,000 38,300,000 15,800,000 18,700,000 NZD.kWe‐1 gross power 650 770 790 940 NZD Cost 25,400,000 29,900,000 12,700,000 15,000,000 Overseas Cost 7,100,000 8,400,000 3,100,000 3,700,000 % NZD Cost 78% 78% 80% 80% % Overseas Cost 22% 22% 20% 20% 6.4 Power Plant Costs Power plant costs are affected by competition between suppliers, current order status, commodity prices, the commercial terms and/or scope of supply, and the particular project contract interfaces for geothermal fluid supply and/or electricity export. It is therefore difficult to give a precise price for a geothermal power plant in advance of tendering. Plant size is a significant cost factor, especially in the case of single unit condensing steam turbines, but less so for ORC plants which are typically modular. Other factors to consider are the optimisation of condenser pressure (and attendant effects on cooling system operation), means of gas extraction, and the use of standard (modular) power units. There is likely to be considerable variation in power plant price due to the choice of supplier, its country of origin (Japan, USA, Italy, France, Israel and Germany), and the choice of power cycle. Nonetheless, through the analysis of historic power plant cost and after adjustment for recent price Sinclair Knight Merz SKM Cost of Geothermal Power Report (2007 Cost Basis)R1.doc PAGE 28PDF Image | Current Costs of Geothermal Power Generation in New Zealand
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