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Design and Cost Analysis for a Pumped-Hydro Storage Power Plant

Mohammad A. Akkawi, Farid B. Chaaban, Assil A. Ghandour

Abstract


Hydropower provides a very convenient opportunity to achieve the global objective of having 20% generated electric power from renewable resources by year 2020. Pumped hydro storage (PHS) systems are used for both energy storage and generation purposes. Although hydropower is an established mean of power generation in the country for over 6 decades, a PHS project is yet to be implemented in Lebanon. The main objective of this paper is to design and examine the feasibility of a PHS power plant at an existing dam allocated in the mountainous area at altitude of around 1600m. The cost analysis for the project has been carried out taking into consideration local economic indices, and the costs of various system components including real estate prices. Results of the analysis show that a PHS project would be a very feasible investment because of the lower levelized cost and its high efficiency. Making use of an existing reservoir for storage has dropped the overall cost of the PHS project very significantly and made the project more economically feasible. Finally, a sensitivity analysis is used to examine the correlation between various indices such as the profitability index, interest rate, equity and others is also presented.

Keywords: Pumped hydro storage systems, hydropower and renewable energy, chabrouh dam

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