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Assessment of the Costs of Geothermal Power Generation in New Zealand 300 oC Resource / 50MW plant size Mean capital cost estimations (and specific capital costs) vary from NZD 188 M (3,750 per kW) for a single flash steam plant to NZD 198 M (4,000 per kW) for a double flash steam plant to NZD 204 M (4,050 per kW) for a hybrid plant and to NZD 241 M (4,850 per kW) for a pure ORC plant. Mean values for the double flash plant and hybrid options are very similar. 260 oC Resource / 50MW plant size Mean capital cost estimations (and specific capital costs) vary from NZD 215 M (4,300 per kW) for a single flash steam plant to NZD 222 M (4,450 per kW) for a hybrid plant to NZD 227 M (4,550 per kW) for a double flash steam plant and to NZD 264 M (5,300 per kW) for a pure ORC plant. Mean values for the double flash plant and hybrid options are very similar. 260 oC Resource / 20MW plant size Under these conditions the cost performance ranking is the same as the “300oC Resource / 50MW plant size”. Mean capital costs are in the range NZD 107 to 120 M corresponding with mean specific capital costs of NZD 5,350 to 6,000 per kW. Mean values for the double flash plant and hybrid options are only slightly dissimilar. 230 oC Resource / 20MW plant size Mean capital cost estimations (and specific capital costs) vary from NZD 112 M (5,550 per kW) for a single flash steam plant to NZD 119 M (6,000 per kW) for a hybrid plant to NZD 121 M (6,050 per kW) for a double flash plant and to NZD 131 M (6,500 per kW) for a pure ORC plant. The increased cost competitiveness of hybrid plant against double flash plant at both 260 and 230 oC resource conditions and 20 MW plant size reflects: the increasing specific cost of steam turbines, particularly condensing steam turbines, at smaller unit sizes due to the reduction in manufacturing economies of scale, and the increasing specific volume of steam as the source temperature of the geothermal fluid decreases. This increases the physical size of the turbine in order to swallow the required steam flow. From these observations, it is evident that from the perspective of costs alone and within the level of accuracy of the analysis: 300 oC / 50MW plant size: Cost of single flash < hybrid = double flash << ORC 260oC / 50MW plant size: Cost of single flash < hybrid = double flash << ORC Sinclair Knight Merz SKM Cost of Geothermal Power Report (2007 Cost Basis)R1.doc PAGE 41PDF Image | Current Costs of Geothermal Power Generation in New Zealand
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