Feasibility study fuel cane power generation project

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Feasibility Study

Fuel Cane Power Generation Project for

Barbados Agricultural Management Company, Ltd.

Prepared by:

Schaffer and Associates International, LLC

1020 Florida Boulevard

Baton Rouge, Louisiana 70802 USA

POWER GENERATION

ETHANOL

SPECIALTY AND

REFINED SUGAR

Introduction and Background

Barbados Agricultural Management Company, Ltd (BAMC) developed a model to provide

sustainable energy from cane residue

(bagasse) This plan:

 Provides vision

 Diversifies energy sources

 Substitutes green fuels for fossil fuels

 Supports environmental stewardship

 Creates added value for cane farmers

 Promotes economic development

Introduction and Background

Summarization of Project Objectives:

 Investigate the viability of the fuel cane model

 Evaluate the current sugar estates/cane fields, sugar

factories and sugar production

 Assess the potential for power production

 Provide economic and financial assessment for BAMC in the energy sector

 Determine the best way forward for BAMC in developing its energy program

 Provide options and alternatives to the existing model that will make it economically feasible

Introduction and Background

Summarization of Project Benefits:

 Fuel security

 Ethanol fuel blends

 Green fuel for electricity product

 Food security

 Tourism

 Sustainable/renewable supply of electricity

 Minimal impact on tourist areas and green spaces

 Economic Growth Driver

 Creates employment

 Creates economic stability for cane farmers and investment confidence

 Provides renewable source of power (ethanol & electricity)

Agricultural Operations

 Cane Production

– Commercial Cane

– Fuel Cane

 Harvest and Transport Company

 Agricultural Input Suppliers

 Farmers and Outgrowers

Industrial Operations

 Sugar Production

– Syrup

– Molasses

– Sugar

– Refined & Specialty Sugars

 Ethanol Production

 Power Production

– Bagasse

– Natural Gas

– Waste (Wood and Paper)

Options: Summaries

SAIL initially developed seven potential cogeneration models and ultimately nine that were taken into

consideration:

 Grinding Rates

 Acres of Cane in Production

 Total Tons of Cane

 Analysis (% Brix, % Pol, % Fiber, Mixed Juice Purity)

 Products (Specialty Sugar, Molasses, Refined Sugar, Ethanol, Electricity)

 Power Generation

Note: The final two models using combinations of options were developed subsequent to the last site visit in September 2005.

Option #9 Case 2A + 1B with Combined Cycle Power

 Assumed Gas Turbine Combined Cycle, Sugar Cane

& HFC, Refined Sugar, Specialty Sugar & Fuel

Ethanol (Case 2A + 1B with Combined Cycle Power)

 Sugar cane: Fiber: 15.85%, Pol: 12.65%

 High fiber fuel cane: Fiber: 28%, Pol: 8%

 Production

– Refined Sugar (local) 12,000 metric tons

– Specialty Sugar (local) 5,000 metric tons

– Specialty Sugar (export) 10,000 metric tons

– Ethanol 14,000,000 liters/year

– Electricity (bagasse) 102,751 MWh

– Electricity (natural gas) 157,680 MW/year

Option #9 Case 2A + 1B with Combined Cycle Power

 Benefits

– High sugar production during part of the year and high fiber for electrical generation and ethanol production

during the remainder of the year

– Combined cycle makes up to 30 MW of firm power

possible

 Constraints

– Need to find a suitable variety of high fiber cane

– Requires larger initial investment

 Acceptable:

– Yes

 Preliminary Indicative Capital Costs: $156.0 million

Project Economics (Option 9)

Major Foreign Exchange Earnings/Import Substitution Savings

Product Quantity Savings (U.S $) Annual FOREX

Fuel Ethanol 14.4m liters/year 8.425 million

Sugar 27,000 MT per year (local/

export) 15.200 million Molasses 9,215 MT 0.844 million

Power (from fiber) 102,800 MwH 11.308 million

Power (from natural gas) Balance up to 30 Mw

(158,000 MwH)

2.897 million*

Power (from waste) 8,200 MwH 0.902 million

* Difference between using Natural Gas versus Fuel Oil/Diesel

Project Economics

Historic FOREX Earnings under E.U Preferential Quotas

Annual Quota

Tonnes Euro

Gross Euro/Year

50312 725 36.5 million

50312 625 31.5 million

49300 525 25.9 million

49300 425 (US $25.1 million) 20.9 million

32097 425 (US $16.4 million) 13.6 million Hence, the new Project’s FOREX benefits compare favorably with historical economics

Project Economics

 Any future additional land will be dedicated to Fuel Ethanol, Power and Molasses

 Assures continuance of farming in the traditional farming area

 Provides fuel security

 Project complies with E.U Settlement Requirements

Human Resources

and refined sugar)

re-locate existing technical staff

responsibilities

 For BAMC

– New Multipurpose Factory

– Cane Production – Replanting Scheme

 Markets

– Specialty Sugars/Refined Sugars (U.S., E.U., Canada, and Local)

– Molasses

– Ethanol

– Electricity

 High Fiber Cane Research