Techno-economic Analysis of Methanol Plant Based on Gasification of Palm Empty Fruit Bunch
Rudy Heryadi
Soegijapranata Catholic University
Abstract
Biomass from palm empty fruit bunch is considered as potential renewable energy sources to be developed in Indonesia. Palm empty fruit bunch can be efficiently converted into valuable and useful Methanol product through gasification. Research about Methanol synthesis from various biomass has been done, however little research about Methanol production based on palm empty fruit bunch gasification have been found, and no research yet on techno-economic analysis of Methanol plant construction based on palm empty fruit bunch gasification. The purpose of this research is to find early stage feasibility of small scale Methanol Plant Model based on gasification of palm EFB. Method Methanol plant design, investment cost estimation, operating cost estimation, and calculation to estimate profitability in term of economic feasibility parameters. Economic analysis calculated that the total investment to build Methanol plant in this study was USD 87,508,479 with manufacturing cost per annum USD 6,127,014. NPV calculated was USD -51,721,064 and IRR at 1.1 %. Based on NPV and IRR value, the construction of Methanol plant is not feasible. Feasibility predicted to be obtained when the capacity of the plant increased fivefold.
Keywords: EFB, feasibility, methanol, profitability, simulation
Topic: Bioenergy