An Engineering Financial Analysis of a Research Sea Platform

Fotis Mavromatakis (), Ioannis Katsigiannis (), Hara Haritaki (), Kyriakos Siderakis () and Giorgos Stavrakakis ()
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Fotis Mavromatakis: Hellenic Mediterranean University
Ioannis Katsigiannis: Hellenic Mediterranean University
Hara Haritaki: Hellenic Mediterranean University
Kyriakos Siderakis: Hellenic Mediterranean University
Giorgos Stavrakakis: Technical University of Crete

Chapter Chapter 29 in Advances in Quantitative Economic Research, 2022, pp 425-438 from Springer

Abstract: Abstract This chapter presents a financial and operational analysis of a sea platform that is used for research purposes and is planned to be located north of Heraklion city, Crete Island. The operation of the platform will be based mainly on renewable energy technologies, such as photovoltaics and wind turbines. In order to utilize properly the renewable energy potential, the sea platform will also include batteries and diesel generator, whereas the option of grid interconnection with Crete Island is also examined, in order to purchase and sell its electricity when needed. The alternative options that are examined include different battery autonomy, various funding options, and sensitivity analysis of the results regarding different lending parameters. The financial indices used in this analysis are: net present value, internal rate of return, discounted payback period, and weighted average cost of capital. The results show that the operation of the sea platform can be economically viable if annual incomes of a few hundred thousand euros exist, provided by platforms research activities.

Keywords: Renewable energy sources; Photovoltaic technology; Wind power; Energy storage; Net present value; Internal rate of return; Payback period (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:prbchp:978-3-030-98179-2_29

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DOI: 10.1007/978-3-030-98179-2_29

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