solar thermal power plants - i mia thermal power plant wgp 84(14) - imia conference 2014 manuela...

Solar Thermal Power PlantWGP 84(14) - IMIA Conference 2014

Manuela Baroncini

IMIA Conference 2014

“The sun will be the fuel of the future”

Anonymous, April 1876, Popular Science

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Solar Thermal Power:

• The past, the present and the future

• CSP cost as a challenge

• Main risks and U/W considerations

Agenda

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Concentrated Solar - A brief history

• 212 B.C.: Syracuse Siege

• 15th: Leonardo da Vinci’s notebooks

• 1914: First plant in Egypt for irrigation

• 1861: Agustin Mouchot solar motor in the Universal Expo in Paris

• 1968. The first CSP plant in Sant’Ilario, near Genoa, Italy

• 1984: The first commercial CSP began operating in US

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The sun as fuel

Source: NASA

1,000 W/m2

1 hour of sun =

1 year worldwide energy consumption

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World Energy Mix

Source: Bloomberg

Annual Gross Capacity additions, 2013-30 (GW)

Solar: ~110 GW Solar: ~ 1090 GW

• Worldwide drivers to decarbonise power generation

• Financial incentives, feed-in tariffs and grants

• Aging of existing fossil fuel and nuclear power plants

• Reputational benefits for utilities

BUT …

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LCOE by Power Technology (US$/MWh), first quarter of 2013

Source: IEA analysis with power price data from Bloomberg LP, 2013

LCOE = Levelised Cost of Energy is the cost per MWh for a fixed period taking into account all costs incl. fixed and variable costs

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What brings the cost down?

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Location

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CSP Technology

Parabolic Troughs Solar TowerDish/Engine System Fresnel Systems

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Heat exchanger

Hot salt tankHeat exchanger

Steam turbine Transformer Generator

Cooling tower

Cold salt tank

SOLAR FIELD

THERMAL STORAGE

POWER BLOCK

CSP Technology: How it works

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Conventional Risks• Parties' Experience

• Project Location

• CSP System Components

o Natural Events hazards

o Man Made hazards

IMIA Working Group WGP 84(14) Solar Thermal Power Plant

Non Conventional Risks• Weather risks

• System efficiency

• Grid integration

• Regulatory/Institutional risks

• Environmental Concerns

Key areas of perceived risks

Claims and Lessons Learnt

Insurance Solutions and UW Considerations

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Conventional Risks: Parties Experience

Source: www.worldbank.org/energy

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Conventional Risks: Project Location

• Natural events

• Local infrastructure / Logistic

• Grid connection

• Site security

• Water availability

• Fire-fighting facility

• TPL exposure

• Political issues (SRCC)

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Conventional Risks: Mirror System

• Natural events

• Mechanical Breakdown

• Storage / Workshops

• Faulty manufacturing, assembly or installation

• Accidental damage (lifting, transit, site collision)

• Possible material degradation

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Conventional Risks: Heat Transfer Fluid (HTF) System

Synthetic oil (400°C)

• Leakage/Fire

• Leakage/Contamination

absorber tubeDirect Steam

• High pressure

Molten Salt (550°C)

• HTF Freezing below 238°C

• Potential corrosion

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Conventional Risks: Thermal Energy Storage (TES)

• Natural events

• Risks as per HTF depending on the medium fluid

• Faulty design

• Lift activities

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Conventional Risks: Power Tower

• Natural events

• Accidental damage (lifting, transit, site collision)

• Faulty design

• Mechanical, Electrical Breakdown

• Health and Safety

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Conventional Risks: Power Block

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Conventional Risks Summary: Natural EventsNATURAL EVENTS

MIRROR SYSTEM

POWER TOWER(TOWER & SRSG) HTF SYSTEM TES HEAT

EXCHANGERCONTROL SYSTEM POWER BLOCK BOP/AUX

SYSTEMS

PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI

EarthquakeC

O

FloodC

O

WindstormC

O

Sand StormC

O

HailC

O

LightningC

O

Wild FireC (1) (1)

O (1) (1)

LandslideC

O

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Conventional Risks Summary: Man Made HazardMAN MADE

HAZARDMIRROR SYSTEM POWER TOWER

(TOWER & SRSG) HTF SYSTEM TES HEAT EXCHANGER CONTROLS POWER BLOCK BOP/AUX

SYSTEMS

PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI PD DSU/BI

Faulty material, workmanship, design, plan, specification

C (9)

O (9)

Poor site work Operational

errors

C (9)

O (9)

Accidental damage (1)

C (9)

O

Fire and explosion

C (2) (2) (5) (5) (5) (5) (5) (5) (9)

O (5) (5) (5) (5) (5) (5) (5) (5) (9)

TransitC (3) (3) (9)

O

Theft, malicious acts

C

O

Mechanical, Electrical

Breakdown

C (4) (4) (6) (6) (6) (6) (6) (6) (9)

O (4) (4) (6) (6) (6) (6) (6) (6) (9)

CorrosionC

O (7) (7) (7) (7) (7) (7)

SRCC & Terrorism

C

O

Health & SafetyC (9)

O (9)

Pollution, contamination

C (8) (8) (8) (8) (8) (8)

O (8) (8) (8) (8) (8) (8)

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CSP Plants have high potentialbut

• Still relatively new industry

• Limited operational experience

• High technology cost

• New developing technology /risks

Summary

To secure a bright and

sunny future

• Engagement of the various players

• Risk Management

• Securing skill and know-how transfer

• Sharing lessons learnt

IMIA paper goal is to contribute to the CSP industry success

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Chair Person:

• Manuela Baroncini, Corporate Solutions, Swiss Re

Contributors:

• Alberto Mengotti, Mapfre

• Charlie Richardson, GCube

• Dan Georgescu, XL

• José Antonio Otero, RSA

• Mamoon Alyah, LWS Consulting

Sponsor

• Richard Radevsky, Charles Taylor Adjusting

A big THANK to IMIA Working Group WG84(14)

• Miguel Angel Patier, Mapfre

• Navraj Basra, Infrassure

• Stephan Heigl, Munich Re

• Stephen Morris, HSB Engineering

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Here comes the sun…(and it's all right)

Manuela Baroncini, Senior Engineering Underwriter Swiss Re International SE, UK branch 30 St. Mary Axe, EC3A 8EP London, United KingdomDirect: +442079333638 E-mail: [email protected]

Thank you!

Any question?

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