MAKALE/ ARTICLE O determination of net rate of return for the proposed plant, for comparison with company investment return criteria O identification of environmental, planning and consents issues O assessment of finance and partnership options O recommended further action. The study will establish the expected project aims and scope in order to understand the process electricity / steam / hot water / chilling requirements. The execution of a CHP feasibility study requires in-depth knowledge of the rapidly changing and, at times, uncertain market and legislative positions. it is vital to fully understand both the benefits of and barriers to distributed generation and CHP in particular to determine a robust case for potential investment in new plan!. A well-executed study provides management with a powerful tool to assess the benefits of CHP. By the very nature of planned investment in new plant, the business plan must be based upon best-available data for the project term. Certain assumptions can be made in the feasibility study that is offered to the management of the host site for consideration. The findings should be reviewed with regard to the sensitivity to a number of key factors that might change during the project term and therefore adversely impact the project. (Some of these factors may of course affect the company even without the CHP option). Some items requiring particular care include: O many markets are, or will be, undergoing change so it is vital to obtain the best possible forecasts of fuel purchase and power sales price trends O planning issues and changing environmental legislation must be addressed O political or regulatory changes may occur during the project term O project costs and benefits must be carefully developed and include contingencies for changes in inflation, loan interest, insurance charges and currency fluctuation O contingencies must be included for construction delay, increased construction costs and the possibility of delay without recompense (force majeure). PROJECT DEVELOPMENT PROCESS The latter is a 'one-stop' approach, where the company agrees a scope of work and then undertakes to operate the plant. Here, plan! ownership may remain with the developer for the useful life of the plan!, or a purchase option may be included at the end of the contract energy term. Typically the options are: O capital purchase: the CHP plant is purchased outright by the host site and built on-site. The existing plant operations team may then operate the facility O project developer/contract energy management company: the developer will design, fund and supply the plan!, often on land leased from the host company. The developer will often have preferred solutions in order to minimize bespoke design work. The developer retains ownership and operates the plan! to seli heat and power 'over the fence' to the host site at contracted rates. The development process is very similar in each case requiring strong project management in order to manage the project to completion on time, to the required specification and within budget. The following items are worthy of note: O commercial issues between the contracting parties O achieving planning and environmental consents O achieving gas connection consent, where appropriate O renegotiating use of electricity system charges and, if required, tariffs for emergency supply / sale of excess power. For capital purchase projects, some multinational companies will have sufficient in-house engineering skills to undertake the design and project management. Other companies will require specialist consultancy advice. The leading project developer / contract energy management company will have all necessary resources to develop the plan!. CONCLUSION There are rumors that 'the best cherries have been picked' with regard to CHP implementation. However, with a robust financial case and tight controls during project development, there are stili opportunities for many more successful CHP plants in industry. Having undertaken the study and determined that CHP is Paul Kenyon is the Manager, lndustrial and Cogeneration, 68 beneficial, the CHP plant development may be undertaken with PB Power in Manchester, UK. by the host company, or by a third party who would own the facility. Source: Cogeneration and On-Site Power Production ENERJi & KOJENERASYON DÜNYASI
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