Economic measures of power plants

The objective of this paper is to provide financial analysis of both conventional and renewable resources power plants in order to assess the viability of projects and make an investment decision for the purpose of selecting the most viable one. An estimated scheme of utility-scale solar Photovoltaic system with 93.2 MW targeted designed capacity located around Khartoum area has been selected to be analyzed as a renewable resource power plant, on the other hand; Block 1 of Garri Power Station with the same rated power has been also selected as a conventional power plant, and a fair assessment has been achieved for both systems. The financial analysis is carried out using cash flow models in Excel work sheets, and the key economic measures used for the economic assessment process of include levelized cost of energy (LCOE), net present worth (NPW), internal rate of return (IRR), benefit-to-cost ratio (B/C) and payback period (PBP). The results gained from financial assessment show that the profitability of the utility-scale On-grid PV system is great comparing with that is of the combined cycle gas turbine power plant.