TECHNO-ECONOMIC EVALUATON OF RETROFITTING A 210 MW THERMAL HEAVY-OIL POWER PLANT WITH A PHOTOVOLTAIC SOLAR THERMAL ENERGY STORAGE SYSTEM USING MOLTEN SALT: A CASE STUDY OF TEC NEGOTINO

Abstract

This study evaluates the techno-economic feasibility of retrofitting a 210 MW thermal heavy-oil power plant, TEC
Negotino, with a photovoltaic solar thermal energy storage system using molten salt. The analysis includes a
sensitivity analysis of key parameters such as discharging duration, thermal storage and electric salt heater
capacity, and charging duration to assess their impact on the annual energy yield, load factor, total investment
cost (CapEx), and operational expenditure (OpEx). The results demonstrate that retrofitting the power plant with
the proposed system can significantly improve its sustainability and economic viability. The sensitivity analysis
highlights the importance of carefully considering these key parameters in the techno-economic evaluation of
renewable energy (solar photovoltaic) technology and thermal energy storage systems (using molten salt) for
retrofitting existing power plants. Moreover, the study's findings can provide valuable insights for decision-making
in the planning and implementation of greenfield projects, underscoring the potential benefits of incorporating
renewable energy technologies into the design and construction of new power plants. The assessment of both
CAPEX and OPEX ensures a comprehensive understanding of the financial implications of the retrofitting process,
aiding in the successful integration of renewable energy solutions into existing power infrastructure.