Wind Power Network News: In recent years, the price of wind power has continued to decline. Sometimes, the benefits of retrofitting old wind farms are higher than building new wind farms. For a wind farm, the major technical transformation is the displacement and replacement of units, which is often caused by mistakes in the site selection work in the early stage. At this time, reducing operating costs and improving control strategies can no longer make the project profitable. Only by moving the machine within the scope can bring the project back to life. What is the project benefit of moving the machine? I will give an example today.
1. Basic information of the project
A wind farm has an installed capacity of 49.5MW and has installed 33 1.5MW wind turbines, which have been put into operation since 2015. The effective hours in 2015 are 1300h. The unreasonable arrangement of fans in this wind farm is the main reason for the low power generation of the wind farm. After analyzing the local wind resources, terrain and other factors, it was finally decided to relocate 5 of the 33 wind turbines.
The relocation project mainly includes: dismantling and assembling works of fans and box transformers, civil works, collector circuit works, and procurement of foundation rings.
Second, the investment situation of moving machine
The transfer project is 18 million yuan.
3. Increase in project benefits
The wind farm has been connected to the grid for power generation in 2015. This project is a transfer plan, not a new construction. During the operation period of the on-grid electricity price, the on-grid electricity price excluding VAT is 0.5214 yuan/kWh, and the on-grid electricity price including VAT is 0.6100 yuan. /kW?h for calculation.
Main known conditions of the project:
Increased investment in moving machines (5 units): 18 million yuan
After the machine is relocated, the additional full-fledged hours (five units): 1100h
After understanding the basic situation of the project, we must first determine whether the project needs to be relocated, that is, whether the relocation is to make up for the loss or expand the loss. At this time, we can reflect the effect of the relocation more intuitively by considering the economy of the five fans to be relocated. In the case that we do not know the actual investment of the project, we can compare the moving machine and the non-moving machine as two projects to get the optimal solution. Then we can use the incremental internal rate of return to judge.
Our resulting financial metrics are as follows:
Financial net present value of incremental project investment (after income tax): 17.3671 million yuan
Incremental capital financial internal rate of return: 206%
Financial net present value of incremental capital: 19.9 million yuan
When we evaluate whether a wind farm is profitable, the main reference indicators are the net present value and the internal rate of return. The net present value indicator is the net present value of the increase in the machine relocation project, that is, the incremental net present value, which can directly reflect the situation of the project, indicating that this plan (machine relocation) is better than the original plan (no machine relocation); The internal rate of return is the incremental internal rate of return, also known as the differential internal rate of return. When this indicator is greater than the benchmark rate of return (8%), it means that this plan (relocating the machine) is better than the original plan (not moving the machine). So we came to the conclusion that the relocation plan is feasible, and the financial net present value of capital increased by 19.9 million yuan compared with the original plan.
4. Summary
In some areas where the problem of wind curtailment and power curtailment is serious, the relocation or technical transformation project has to consider whether the power output can really be increased after the technical problem is solved? If a large amount of money is invested to improve the power generation capacity, but the problem of power curtailment is still faced, the increased power cannot be sent, and the decision to move the machine must be cautious.
Post time: Mar-26-2022
