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Assessment of the Costs of Geothermal Power Generation in New Zealand For the purposes of the present study this cost figure has been used directly for assessing the current cost of a 20 MW ORC power plant undertaken on an EPC basis, the scope of which is comparable to the single or double flash condensing steam turbine cycles. Provision for major spare parts is included in the EPC price. On the basis of the comments above on the modular nature of the ORC plant not providing any significant economies of scale the same specific cost has been used for both the 20 and 50 MW plants. Estimated Costs for ORC Power Plant (2007) Table 6-5 Plant Size 20 MW + steamfield piping 50 MW + steamfield piping 20 MW power plant 50 MW power plant Estimated Total Cost NZD per kW installed 3,350 3,350 2,700 2,700 Estimated Total Cost USD per kW installed (E/R 0.70) 2,350 2,350 1,890 1,890 Local Cost Component NZD M 13.4 33.5 10.8 27.0 Overseas Cost Component USD M (E/R 0.70) 37.6 94.0 30.2 75.6 Using the steamfield development cost estimates given in Table 6.2, power plant only costs for the pure ORC option of 2,700 NZD.kW-1 installed have been derived as shown in Table 6.5 and these values have been used in the capital cost calculations in Tables 7.1 and 7.2 for both the 50 and 20 MW plant sizes. 6.4.4 Hybrid Steam + ORC Binary Plant Hybrid projects using a combination of back pressure steam turbine and ORC units. Units manufactured by Ormat with this configuration are termed GCCU’s – geothermal combined cycle units In the New Zealand market place, many of the recent geothermal projects have used Ormat equipment, reputedly because capital cost and supplier credits were key determinants in selecting the plant supplier. Based on available information, the cost of Ormat hybrid steam + binary unit power plants, marketed under the trade name Geothermal Combined Cycle Units (“GCCU”), has been in the range of about NZD 2.0 million.MW-1 to NZD 2.5 million.MW-1 (including civil works and infrastructure costs but not transmission). GCCU’s installed at geothermal fields in New Zealand include: Sinclair Knight Merz SKM Cost of Geothermal Power Report (2007 Cost Basis)R1.doc PAGE 31PDF Image | Current Costs of Geothermal Power Generation in New Zealand
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