Maximization of profit in a co-gasification chp plant through biomass torrefaction

Co-gasification of coal and biomass is a well-known energy conversion technology that reduces the cost of feedstock required for power production. The amount of heat and electricity generated, as well as the profit made from the power plant is dependent on the quality of the feedstock used in generating the energy. Torrefaction improves the quality of feedstock used for syngas generation and earning of profit in a power plant such as Combined Heat and Power (CHP) plant is improved if the fuel quality is enhanced. In this study, waste biomass such as corn cob, sugar cane bagasse, and pine saw dust were torrefied and blended with coal using coal-to-biomass ratios of 50:50, 71:29, & 80:20. The feedstocks was characterized and then the heating value and moisture content of the fuels were measured and used to estimate the feed-rate and annual feedstock requirement of the plant. An estimation of the earned profit from a typical CHP plant for a 20-year-investment period divided into four terms: A, B, C, & D was carried out using the Net Present Value and Payback Period models. The operating cost models considered were with feedstock costing (WFC) and without feedstock costing (WOFC). A profit of between USD5,902,292.46-USD 6,489,659.30, and USD7,654,111.66 – USD7,899,284.01 were earned with percentage reduction in profit increased from A-D by about 1.01 – 2.32 % and 1.19 – 5.39 % using WFC and WOFC, respectively.