TY - GEN
T1 - Techno-economic Assessment of Bamboo Biomass Power Plant
T2 - 7th International Conference on Business and Industrial Research, ICBIR 2022
AU - Saepullah, Asep
AU - Moeis, Armand Omar
AU - Setiawan, Andri D.
N1 - Funding Information:
The first author would like to thank LPDP (Indonesia Endowment Fund for Education), Ministry of Finance, the Republic of Indonesia for the scholarship support to the first author.
Publisher Copyright:
© 2022 IEEE.
PY - 2022
Y1 - 2022
N2 - The energy transition has become an important topic for Indonesia's presidency at the G20 as a commitment to developing renewable energy. The growth of electricity demand requires energy diversification through increasing renewable energy capacity to reduce dependence on fossil-based power generation. This study conducts an economic analysis of a 2600 kW bamboo biomass power plant with gasification technology. A Levelized Cost of Electricity, Net Present Value, Internal Rate of Return, and Payback Period are used to assess its feasibility while the Value at Risk method is used to analyze the risk impact. The results show that the proposed power plant offers a Net Present Value of {}3,619,460 and an Internal Rate of Return of 16.15% with a Payback Period of 8.98 years. The highest priority risks are bamboo price, unplanned shutdown, changes in Power Purchase Agreement rate, and capacity factor fluctuation. The simulation result shows the proposed power plant still has economic potential unless the PPA rate is decreased significantly. Risk mitigation can be carried out through long-term cooperation with suppliers and local farmers, effective maintenance, and employee training. The bamboo biomass power plant has promising energy for the future and offers economic and environmental benefits for communities.
AB - The energy transition has become an important topic for Indonesia's presidency at the G20 as a commitment to developing renewable energy. The growth of electricity demand requires energy diversification through increasing renewable energy capacity to reduce dependence on fossil-based power generation. This study conducts an economic analysis of a 2600 kW bamboo biomass power plant with gasification technology. A Levelized Cost of Electricity, Net Present Value, Internal Rate of Return, and Payback Period are used to assess its feasibility while the Value at Risk method is used to analyze the risk impact. The results show that the proposed power plant offers a Net Present Value of {}3,619,460 and an Internal Rate of Return of 16.15% with a Payback Period of 8.98 years. The highest priority risks are bamboo price, unplanned shutdown, changes in Power Purchase Agreement rate, and capacity factor fluctuation. The simulation result shows the proposed power plant still has economic potential unless the PPA rate is decreased significantly. Risk mitigation can be carried out through long-term cooperation with suppliers and local farmers, effective maintenance, and employee training. The bamboo biomass power plant has promising energy for the future and offers economic and environmental benefits for communities.
KW - bamboo
KW - biomass powerplant
KW - economic analysis
KW - Levelized Cost of Electricity
KW - Value at Risk
UR - http://www.scopus.com/inward/record.url?scp=85133125305&partnerID=8YFLogxK
U2 - 10.1109/ICBIR54589.2022.9786409
DO - 10.1109/ICBIR54589.2022.9786409
M3 - Conference contribution
AN - SCOPUS:85133125305
T3 - ICBIR 2022 - 2022 7th International Conference on Business and Industrial Research, Proceedings
SP - 499
EP - 504
BT - ICBIR 2022 - 2022 7th International Conference on Business and Industrial Research, Proceedings
PB - Institute of Electrical and Electronics Engineers Inc.
Y2 - 19 May 2022 through 20 May 2022
ER -
