Publication detail

A Waste-to-Energy Project: A Complex Approach towards the Assessment of Investment Risks

FERDAN, T. ŠOMPLÁK, R. ZAVÍRALOVÁ, L. PAVLAS, M. FRÝBA, L.

Czech title

Projekt energetického využití odpadů: Komplexní přístup k posouzení investičního rizika

English title

A Waste-to-Energy Project: A Complex Approach towards the Assessment of Investment Risks

Type

journal article in Web of Science

Language

en

Original abstract

This paper presents a complex methodology towards investment risk quantification in a waste-to-energy (WTE) project. It focuses on risks related to the supply of waste. A novel approach is proposed, where waste availability is assessed based on a complex simulation of future competition in the waste market. The methodology takes advantage of complex calculation performed by the system NERUDA. NERUDA is a logistic-based optimization tool, which allocates processing capacities and proposes waste flows between producers and processors within modelled region. One original feature of the methodology is how the assessment is formulated, whereby the optimum collection areas are compared with a project's capacity. The new term waste availability factor is defined and used in the assessment. The practical implications of such an approach are demonstrated through a case study. The results of this work support decision-making processes involved in new WTE projects. Since one of the major risks is a lock of waste availability, its evaluation represents an integral part of feasibility studies for WTE projects.

Czech abstract

Tento článek se zabývá komplexní metodikou posouzení investičního rizika v případě projektu za řízení na energetického využití odpadů (EVO). Zaměřuje se na riziko dodávky odpadu. Je představen nový přístup, kdy je dostupnost odpadu hodnocena na základě simulace konkurenčního prostředí v odpadovém hospodářství. Metodika se využívá nástroje NERUDA. NERUDA je optimalizační software, který navrhuje kapacity jednotlivých zařízení a navrhuje systém dopravy odpadu od producentů k zpracovatelům. V práci je nadefinován nový termín "faktor dostupnost odpadu". Praktické vuyžití přístupu je představeno pomocí případové studie. Výsleky této práce podporují rozhodovací proces v oblasti investice do nových projektů EVO.

English abstract

This paper presents a complex methodology towards investment risk quantification in a waste-to-energy (WTE) project. It focuses on risks related to the supply of waste. A novel approach is proposed, where waste availability is assessed based on a complex simulation of future competition in the waste market. The methodology takes advantage of complex calculation performed by the system NERUDA. NERUDA is a logistic-based optimization tool, which allocates processing capacities and proposes waste flows between producers and processors within modelled region. One original feature of the methodology is how the assessment is formulated, whereby the optimum collection areas are compared with a project's capacity. The new term waste availability factor is defined and used in the assessment. The practical implications of such an approach are demonstrated through a case study. The results of this work support decision-making processes involved in new WTE projects. Since one of the major risks is a lock of waste availability, its evaluation represents an integral part of feasibility studies for WTE projects.

Keywords in English

Waste-to-energy; Risk analysis; NERUDA; Waste management; Waste availability

RIV year

2015

Released

05.10.2015

Publisher

Elsevier BV

ISSN

1359-4311

Volume

89

Number

1

Pages from–to

1127–1136

Pages count

10

BIBTEX


@article{BUT115779,
  author="Tomáš {Ferdan} and Radovan {Šomplák} and Lenka {Szásziová} and Martin {Pavlas} and Lukáš {Frýba},
  title="A Waste-to-Energy Project: A Complex Approach towards the Assessment of Investment Risks",
  year="2015",
  volume="89",
  number="1",
  month="October",
  pages="1127--1136",
  publisher="Elsevier BV",
  issn="1359-4311"
}