Economic Viability Analysis for an OTEC Power Plant at San Andres Island

Jorge Herrera, Santiago Sierra, Hernando Hernández-Hamón, Néstor Ardila, Andrés Franco-Herrera, Asier Ibeas

Research output: Contribution to journalArticleResearchpeer-review

Abstract

This paper presents the economic feasibility analysis of a 2 MW Ocean Thermal Energy Conversion (OTEC) power plant in the open cycle. The plant can supply 6.35% of the average annual consumption of the electricity demand located at San Andrés Island (Colombia). On the one hand, the work presents the selection of the place to locate an offshore facility considering the technical viability while, on the other hand, the economic viability analysis is performed. The latter considers two scenarios: one without desalinated water production and another one with desalinated water. In this way, it is intended to first determine its construction’s technical requirements to analyse its economic performance. This approach allows us to have a general idea of the implementation costs and the benefits obtained with this type of plant, for the particular case of San Andrés, an island in the Colombian Caribbean with sustained stress on electricity production and freshwater generation. The results obtained show that the technology is viable and that the investment can be recovered in an adequate time horizon.

Original languageEnglish
Article number713
Number of pages18
JournalJournal of Marine Science and Engineering
Issue number6
DOIs
Publication statusPublished - 1 Jun 2022

Keywords

  • power energy
  • marine energy
  • floating OTEC plant
  • economic feasibility analysis
  • OCEAN THERMAL-ENERGY
  • RESOURCES
  • GENERATION
  • CYCLE

Fingerprint

Dive into the research topics of 'Economic Viability Analysis for an OTEC Power Plant at San Andres Island'. Together they form a unique fingerprint.

Cite this