Waste to energy project in Greece

Created on: 20 Mar 2018 Last updated: 24 Apr 2018
Project Location
Europe and Central Asia
Primary Industry
Clean Energy
Investment Type
Others

Project Description

LOCATION

Rhodes Island Southern Aegean Sea, Greece

INVESTMENT COST

TOTAL COST OF INVESTMENT                       90.000.000€

Plasma Gasification                                  40.017.602€

Electric generators                                    17.351.509€

Main & Support Buildings                      13.710.314€

Assistant Installations                              9.070.512€

Project Management                              3.846.143€

Connection to electricity grid                         2.979.552€

Engineering                                        2.340.359€

Various expense                              447.761€

Plot purchase                                             236.247€

FINANCIAL PLAN

30% Equity

70% Bank Loan

12 years tenor

2 years construction period

4% final interest

6 months grace period

3-months installments

REVENUE RESOURCES

Total Revenues                                          28.690.235€

Electric Power                                             16.137.000€

Thermal power                                           4.600.000€

Gate fee                                              4.000.000

Products produced                                   2.900.000€

Scrap                                                     660.735€

Industrial wastes                              392.500€

DESCRIPTION OF PROJECT

The purpose of the project is the development of a plant with total capacity of 22MW (electrical) and of 38MW thermal power heat using urban waste in the island of Rhodes, Southern Greece.

PROJECT DATA

·         Almost 100.000 ton annually of solid wastes

·         Production of electric power to network is 165.000kWh annually

·         Feed in Price at 97,80 €/kWh (85€/MWh + 15% thermal energy to grid per KWh)

·         Guaranteed through PPA for twenty years according to law 4414/2016

·         Production of thermal power to network is 115.000kWh annually

·         Selling price at 40,00 €/kWh

MAIN MACHINERY & FACILITIES

Gasification – plasma torches: 336tn/hour

Gas processing cost (syngas) & exhaust gas processing

Electric production 22MW

Tele heating network 36kW-tn 5.500m

Voltage lifting substations for network distribution

OPEX

Total cost of operations:                                            5.901.711€

Maintenance:                                                                2.067.167€

Staff cost:                                                               1.592.867€

Utilities:                                                          924.943€

Project Insurance cost:                                                       516.792€

Renewable sources fee:                                           555.964€

Administrative:                                                             168.958€

Marketing:                                                            75.020€

Adjustment per year

Staff Cost 1%

Administrative 1%

TECHNOLOGY

1.       Plasma gasification technology

2.       Main advantages of plasma gasification are:

·         The reduction of construction of new landfills

·         Zero methane emissions

·         Zero danger to pollute the aquifer

·         High performance and effective use of raw materials

FINANCIAL DATA

Assumptions

Income tax                                          29%

Reserves                                              5%

Contingencies                                             1% of Net Sales

Depreciation method                               Constant rate

Inflation rate                                       1,3%

Results & Indexes

CAPEX                                                   90.000.000€

OPEX                                                     5.901.711€

Net Sales                                             33.376.945€

EBITDA                                                 27.141.464€

EBITDA margin                                            81,31%

GPR                                                       82,32%

NPR                                                       45,52%

DSCR                                                     3,14

IRR                                                20,01%

WACC                                                   5,32%

NPV                                                       140.895.963€

Payback period                                          6 years

Cost of Equity                                             11,10%

CONTACT DETAILS

George Floras

BELT AND ROAD ASSOCIATES MANAGING PARTNER

email: gfloras@beltandroadassociates.com

skype: gfloras1 WeChat ID: gfloras

tel. +306974910050

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