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Installation Of 2MW Wind Power Plant In Northern Cyprus: Technical, Economical And Environmental Analysis
[Full Text]
AUTHOR(S)
Aliyu Aliyu, Gaafar Muhammed, Ibrahim Abdullahi
KEYWORDS
wind plant, economic analysis, turbine, greenhouse gases, renewable energy
ABSTRACT
The impetus for the work presented here arose from the fact that the demand for renewable energy grows, and the supply of the non-renewable energy is at the decreasing level. An increasing percentage of total energy produced globally is moving to renewable forms. Wind energy enjoys increasing deployment for power generation due to the economic benefits associated with it.Turkish Republic of Northern Cyprus (TRNC) has abundance of renewable energy; it has an average wind speed of 4.30m/s and 5.04m/s at 10m and 50m respectively. The economic analysis of is plant shows that the wind farm has an investment cost of $2300000 with $333217.8 as annual savings. The simple payback was calculated to be 7 years, the savings to investment ratio was found to be 3.62, the net present value turn to be positive while the return on investment was 14.48%.
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