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Financial Achievability Of Anaerobic Digestion Projects

Financial Achievability Of Anaerobic Digestion Projects. Lisa Lee Morgan, AIA, LEED-AP President + CEO Calor Energy. The AD Process – “Basic”. Feedstocks. Digestion. Outputs. o o o o o o o. o o o o o o o. o o o o o o o. CO2. Gas. o o o o o o o. CH4. o o o o o o o.

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Financial Achievability Of Anaerobic Digestion Projects

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  1. Financial Achievability Of Anaerobic Digestion Projects Lisa Lee Morgan, AIA, LEED-AP President + CEO Calor Energy

  2. The AD Process – “Basic” • Feedstocks • Digestion • Outputs o oooooo o oooooo o oooooo CO2 Gas o oooooo CH4 o oooooo o oooooo Liquids Digestate Solids - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  3. Key Revenues + Costs • Feedstocks • Digestion • Outputs o oooooo o oooooo o oooooo CO2 Gas o oooooo CH4 o oooooo o oooooo Liquids Digestate Solids $ Land $ $ Technology $ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - $ Disposal $ $ Offtake $ - - - - - - - - - - - - - - - - - - - -

  4. First Cut Rule of Thumb Revenue of $ / Ton of Waste Revenue of $ / Megawatt-hr Revenue of $ / Ton Fertilizer $140

  5. Feedstock $$$

  6. Community Viability Charlotte San Francisco

  7. Feedstocks BTU Spectrum • WW Waste • Ag Waste • Food Waste • Animal Waste Processed, digested, excreted Raw, unprocessed, undigested LOW BTU Content HIGH

  8. Feedstocks Disposal Fees

  9. Feedstocks Project Models PURISTS : Harvest Power – Investor-owned AD Facilities • Designed to maximize gas quality and financial yield • Pre-consumer food waste only • No contaminants, paper, body wastes • Formula: 2/3 hi-cal food waste + 1/3 green waste • Vancouver: $65/Ton + $150/MWh + $20/Ton = $235 MIXED BAGGERS : Columbia Biogas – Community-owned AD Facilities • Designed to maximize community participation • Pre- and Post-consumer food waste • Formula: 1/3 food + 1/3 FOG, beer, milk + 1/3 green, grocery • Expensive pre- and post-treatment • Portland: $55/WTon + $70/MWh + $20/Fton = $145

  10. Digestion Process - “Basic” Feedstock In Mixing Rods Gas Storage Heated Pulp Biogas Pretreat to Pulp Fluids Solids Heat Exchanger Digestate Digestion Reactor

  11. Digestion $$$

  12. Model Example Tax Equity Investor 50% Cash 100% Tax Incentives 90% / 5% Owner Bal Sheet = Insurance Developer 5% Owner Project Manager Team Lead Municipal WWTF 5% / 95% Owner Electricity user Operations Utility: MWh Heat: MMbtu Fertilizer: Ton Waste: Fees Lender 50% Cash 15 yr @ 5% secured EPC Engineering/Procurement/Contractor “NC Digester Group, LLC”

  13. Production Example

  14. Tax Incentives

  15. Output $$$

  16. Outputs 101 Biogas -> Electricity/CHP Gas Fueled Biogas Storage Electric Generator Power Grid 750-1000 Gas Clean Up Digester BTU/FT3 Boiler Gas Fueled Industrial SteamUsers

  17. Outputs 201 Biogas -> Transportation Fuels Natural Gas Pipeline Biogas Storage Bottled Compressed NG (RNG) 900-1000 Gas Clean Up Digester BTU/FT3 Compressor CNG Vehicles

  18. Outputs 301 Digestate -> Fertilizers Liquids Nutrient-Rich Liquid Fertilizer Compost Rows Solid Digestate Storage Digester Dewater - - - - - - - - - - Highly Enriched Organic Fertilizer - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

  19. Annual Cash Flow

  20. Investor/Lender Expectations

  21. Community Analysis Rule of $140 ? Maximize what ? Feedstocks? Technology ? Outputs ?

  22. Questions?

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