Financial Analysis of PV-Wind Cogeneration for a Remote Village in Gwadar - Pakistan

Abstract

The consumption concern and financial thought of fossil fuel assets around the world have required a basic
seek for elective vitality sources to meet up the show vitality requests. Electricity has become a basic need of life for
education, medical, transportation etc. In developing countries, the remote villages still have no access to electricity as it is uneconomical for utilities to provide electricity in geographically dispersed load centers. Kappar, a remote village in Gwadar city of Baluchistan province, is taken as a case study that has abundant solar and wind power potential. In this study, a hybrid power generation scheme is proposed for remote villages in Gwadar, Pakistan. A comprehensive study of the technical, economic and financial analysis including Net Present Value (NPV), Internal Rate of Return (IRR), Payback Period (PP), Debt Service Coverage Ratio (DSCR), Benefit-Cost Ratio (BCR) for a hybrid PV-Wind system of said location have been calculated using clean energy management software called RET screen Expert, developed by Natural Resource Canada (NRC). The study of this paper renders an insight to auspicious configuration of PV capacity and wind turbines accessibility needed to meet the energy demand of posit location and their mutual technical, economical, financial and environmental parameters for future decision makings and best manipulations. The annual energy generated by the proposed hybrid system is computed, and an energy economic analysis is carried out based on demand. Using the RET screen tool, the main purpose is to create a hybrid system with an appropriate Levelized Cost of Electricity (LCOE).