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Publications, Reports & Research

Our publications, reports and research library hosts over 500 specialist reports and research papers on all topics associated with CCS.

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Project Pioneer: final report on Project Pioneer
Project Pioneer: final report on Project Pioneer

29th April 2013

Organisation(s): TransAlta

Topic(s): Business cases, Carbon capture, Project financing, Use and storage (CCUS)

This report summarizes the feasibility study that was undertaken for deliver Project Pioneer. This Project would have been one of the first carbon capture and storage (CCS) projects to utilise an integrated approach for CCS, and was expected to serve as a prototype for the long-term, commercial-scale application and integration of CCS technologies to achieve reductions in greenhouse gas emissions.

After completion of a feasibility study and despite substantial government and industry investment, the Project was not economically feasible due to insufficient CO2 sales markets and emissions pricing in Alberta and Canada.

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Making the business case for CCS
Making the business case for CCS

1st February 2013

Organisation(s): 2Co Energy, European Union, Global CCS Institute

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

2Co Energy Limited has written this report to share its real-life CCS business case for its CCS project in the UK, the Don Valley Power Project (DVPP) This report aims to provide practical information that can be of use to others as they develop their own business cases for CCS around the world.

The report covers the following:

  • A brief overview of 2Co and its CCS project in the UK, DVPP.
  • A summary of existing business case-related knowledge products previously published for the Institute by other CCS projects, summarising the factors of most importance to their business cases.
  • A description of the market and regulatory context for CCS faced by DVPP and other projects in the UK.
  • A discussion of the financing challenge that 2Co faces and the resulting financing strategy.
  • The resulting business plan, including revenue and cost profiles, sensitivities and prospects for future cost reduction.
  • A description of the key risks to the project and mitigation plans.

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ROAD 프로젝트 실행 전략
ROAD 프로젝트 실행 전략

21st January 2013

Organisation(s): Global CCS Institute

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

현재 본 프로젝트와 관련하여 모회사의 투자 결정 단계가 진행되고 있기 때문에 본 보고서에서는 프로젝트의 향후 계획에 대해 소개하고자 한다. 보고서는 진행을 앞둔 중요한 단계들에 대해 개괄적으로 다루고 있으며, 관련 활동에 관한 논의 및 프로젝트 수행 전략을 제공할 것이다.

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CCS 비즈니스 모형 창출
CCS 비즈니스 모형 창출

1st December 2012

Organisation(s): 2Co Energy, European Union, Global CCS Institute

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

2Co 에너지 사는 영국에서 이루어지고 있는 Don Valley Power Plant 프로젝트(이하 DVPP)를 성공적으로 진행시키기 위하여, 어느 프로젝트에나 실제로 적용할 수 있는 CCS 비즈니스 모델을 개발하고 이를 여타 프로젝트와 공유하기 위하여 글로벌CCS연구소와 공동으로 본 보고서를 작성하였다. 2Co사는 전 세계 CCS를 위한 자체 개발 비즈니스 모델을 공유함으로써 CCS관련 기관의 구성원들이 사용할 수 있는 실용적인 정보를 제공하고자 한다. 

본 보고서는 다음을 포함하고 있다: 
• 2Co사와 영국의 CCS 프로젝트인 DVPP대한 간략한 개관 
• CCS프로젝트를 진행 중인 기관들에 제공되었던 보고서와 관련된 기존 비즈니스 모델 요약― 가장 중요한 요소들 중심으로 
• 영국에서 DVPP와 다른 프로젝트들이 직면한 CCS 시장과 규제상황에 관한 기술 
• 2Co가 직면하고 있는 자금조달 관련 문제들에 대한 논의와 이로 도출된 자금조달 전략 
• 비용과 수익 모델, 민감도(sensitivities), 그리고 미래 비용 절감을 위한 전망 등 비즈니스 계획 
• 프로젝트의 주요 리스크와 리스크 경감 계획에 대한 기술

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Project execution strategy: ROAD. Special report for the Global Carbon Capture and Storage Institute
Project execution strategy: ROAD. Special report for the Global Carbon Capture and Storage Institute

23rd March 2012

Organisation(s): Global CCS Institute

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

As the project approaches the key milestone of a decision on investment from its parent companies, this report aims to outline the future path of the project. An overview of upcoming milestones and a discussion on relevant activities and the project execution strategy is provided. Following the final investment decisions (FID), two consecutive organisations will be formed, the first focusing on design and construction up until 2015, whilst the second will focus on operation of the project between 2015 and 2020. The project employs skills of specialists from across both parent companies, with strategic partners playing a role throughout the development and operational phases of the project.

The project schedule is driven by both the MPP3 construction schedule and cost optimisation. In order to avoid MPP3 outage penalties, the tie-in works have to be executed on-track. ROAD focuses on cost optimisation and controlling. Both drivers led to the specific construction plan and the clustering of heavy lift components. The heavy lifting activities of large vessels and the main compressor are on the critical path. Thanks to the clustering of heavy lift components the cost and project schedule can be squeezed significantly. After the lifting and placement of these major components the capture plant can be assembled. In the second phase, the transport and storage works will become the major point of attention. From execution of the front end engineering and design (FEED) stage, a much more detailed state of engineering allowed ROAD to reduce uncertainties. The execution phase risks for construction, finance, scheduling, stakeholder engagement and permitting are addressed in this report. The risk mitigation actions progressively decreased the project contingencies. These contingencies represent the exposure due to volatile market prices, state of engineering detail, planning uncertainties and other issues. The FEED study reduced the total CAPEX contingency from 25 per cent (pre-FEED) to 10 per cent (post-FEED) of total CAPEX. The remaining key risks for the construction phase are the interfaces with MPP3, the timely signed EPC contract for the construction of the capture plant, and the CAPEX risk and commercial negotiations for the transport and storage chain. Furthermore, permitting and stakeholder management are points of attention. Objections or appeal on published permits from NGO’s or local organisations could result in scheduling issues.

The project budget is governed by the company’s organisational structure, with a budget split between project office and governance, stakeholder management, capture, and lastly, transport and storage. Budget is split over the life of the project into two phases: the design and construction phase (2010-2014), and the operational phase (2015-2019). Following the operational period, provisions have been made for plant decommissioning, and monitoring of the storage site. In ROADs probabilistic models the scheduling risk of FID postponement can also be visualised taking into account the probability of risks and defined mitigation actions. Please note that this report only highlights the key aspects of ROAD’s execution strategy.

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プロジェクト実施戦略 ROAD
プロジェクト実施戦略 ROAD

1st March 2012

Organisation(s): Global CCS Institute

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

プロジェクトが親会社による投資判断という重要なマイルストーンに近づいていることから、本報告書ではプロジェクトの今後の道筋について概要を示す。今後のマイルストーンの概要並びに関連活動及びプロジェクト実施戦略に関する考察も提示する。

 今後「最終投資決定(FID: Final Investment Decisions)」を受けて、二つの組織が順番に設立される。最初の組織は2015年までの設計及び建設に重点を置き、二番目の組織では2015~2020年のプロジェクトの操業を目的とする。プロジェクトには両親会社にまたがる専門家のスキルを取り入れ、戦略的パートナーもプロジェクトの開発及び操業段階を通じて一定の役割を果たす。

 プロジェクトのスケジュールは、MPP3建設スケジュール及び費用の最適化の観点から策定された。MPP3停止というペナルティを免れるためには、関連作業を順調に実施しなければならない。ROADは費用の最適化及び抑制に重点を置いている。この両者は、具体的な建設計画と重量物のクラスタリングを導いた。大型容器及びメインコンプレッサーなどの重量物の搬入作業は、クリティカルパスどおりに進んでいる。重量物をまとめたことによって、費用及びプロジェクトスケジュールを大幅に圧縮することができた。このような重量物の搬入と設置を行った後に、回収プラントを組み立てることができる。第2段階では、輸送及び貯留のための作業が重要な留意点となる。

基本設計(FEED: Front-end Engineering and Design)の実施以来、詳細なエンジニアリングの段階を経てROADの不確実性を低減することができた。本報告書では建設、財務、スケジュール決定、利害関係者の関与及び許認可に関する実施段階の諸リスクを取り上げている。リスク緩和措置により、プロジェクトの予備費は徐々に減少した。予備費の大きさは、激しく変動する市場価格や詳細エンジニアリングの状況、計画上の不確実性などを反映する。FEEDでの検討によって、全体的なCAPEXの予備費は、CAPEX全体の25%(FEED前)から10%(FEED後)に減少した。建設段階で残る主要なリスクは、MPP3との整合、回収プラントの建設に向けてEPC契約をタイムリーに締結すること、並びに輸送及び貯留チェーンに関するCAPEXリスクとビジネス交渉である。さらに、許認可の取得と利害関係者のマネジメントも留意が必要である。また、許認可の発行に対しNGOや地元組織から反対又は抗議があれば、スケジュールに問題が生じる可能性がある。

 プロジェクト予算は、企業の組織体制によって、プロジェクト事務所、ガバナンス部、利害関係者マネジメント部、回収部、そして輸送・貯留部に分配される。全プロジェクト期間を通じてみると、予算は2段階に分かれる。すなわち、設計・建設段階(2010~2014年)と操業段階(2015~2019年)である。操業期間の後に関しては、プラントの閉鎖や貯留サイトの監視にも予算が割り振られた。

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AEP Mountaineer CCS business case report
AEP Mountaineer CCS business case report

20th December 2011

Organisation(s): American Electric Power (AEP)

Topic(s): Business cases, Carbon capture, Use and storage (CCUS)

The purpose of this report is to examine the issues surrounding installation of carbon capture technology on AEP’s generating fleet based on lessons learnt from American Electric Power’s (AEP) project at Mountaineer coal-fired generating station. This report discusses the following issues associated with justification and use of this technology.

  • AEP is an investor owned utility with an obligation to provide electric service. The company is subject to governmental regulation which has implications on AEP’s ability to finance a commercial-scale CCS project.
  • Financial modelling completed by AEP and discussion of results. The report also uses output of modelling and looks at financial risks and the need for financial incentives to fund first-of-a-kind commercial-scale projects.
  • The difficulties associated with financing a project without government backing. Also the cost and use of the CO2 by-product and its competitiveness with other CO2 production sources.
  • AEP’s rationale surrounding its decision to suspend the Mountaineer CCS project.

AEP’s evaluation includes:

  • estimated capital expenses;
  • anticipated operations and maintenance costs;
  • cost of generating electricity following implementation and during operation of the CCS facility;
  • assumptions of legislative impacts;
  • consideration of optional CO2 sources, uses and revenue streams;
  • financial risk; and
  • other elements.

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