Monte Carlo Valuation of natural gas investments

This paper deals with the valuation of energy assets related to natural gas. In particular, we evaluate a baseload Natural Gas Combined Cycle (NGCC) power plant and an ancillary instalation, namely a Liquefied Natural Gas (LNG) facility, in a realistic setting; specifically, these investments enjoy a long useful life but require some non-negligible time to build. Then we focus on the valuation of several investment options again in a realistic setting. These include the option to invest in the power plant when there is uncertainty concerning the initial outlay, or the option's time to maturity, or the cost of CO2 emission permits, or when there is a chance to double the plant size in the future. Our model comprises three sources of risk. We consider uncertain gas prices with regard to both the current level and the long-run equilibrium level; the current electricity price is also uncertain. They all are assumed to show mean reversion. The two-factor model for natural gas price is calibrated using data from NYMEX NG futures contracts. Also, we calibrate the one-factor model for electricity price using data from the Spanish wholesale electricity market, respectively. Then we use the estimated parameter values alongside actual physical parameters from a case study to value natural gas plants. Finally, the calibrated parameters are also used in a Monte Carlo simulation framework to evaluate several American-type options to invest in these energy assets. We accomplish this by following the least squares MC approach.

Empirical Doppler Characterization of Signals Scattered by Wind Turbines in the UHF Band under Near Field Condition

Time variability of the scattering signals from wind turbines may lead to degradation problems on the communication systems provided in the UHF band, especially under near field condition. In order to analyze the variability due to the rotation of the blades, this paper characterizes empirical Doppler spectra obtained from real samples of signals scattered by wind turbines with rotating blades under near field condition. A new Doppler spectrum model is proposed to fit the spectral characteristics of these signals, providing notable goodness of fit. Finally, the effect of this kind of time variability on the degradation of OFDM signals is studied.

Mitigation Techniques to Reduce the Impact of Wind Turbines on Radar Services

Radar services are occasionally affected by wind farms. This paper presents a comprehensive description of the effects that a wind farm may cause on the different radar services, and it compiles a review of the recent research results regarding the mitigation techniques to minimize this impact. Mitigation techniques to be applied at the wind farm and on the radar systems are described. The development of thorough impact studies before the wind farm is installed is presented as the best way to analyze in advance the potential for interference, and subsequently identify the possible solutions to allow the coexistence of wind farms and radar services.

Sliding mode control strategy for variable speed wind turbines

EFTA 2009

Simulación y automatización del sistema de aceite de una turbina de gas en un almacenamiento de gas natural.

73 p. : il., col.

Households WTP for the Reliability of Gas Supply

26 p.

Cogeneración con gas natural en una empresa de tratamientos térmicos

[ES]Diseño de una instalación de cogeneración basada en un motor de combustible gas natural para una empresa de tratamientos térmicos y superficiales. Para satisfacer las necesidades energéticas de la planta, la potencia eléctrica la suministrará un alternador conectado al motor y, a su vez, la entalpía de los humos de escape del motor se aprovechará para la producción de vapor de agua, necesario para la actividad industrial de la empresa. Por otro lado, el calor que es necesario disipar de dicho motor se recuperará para el calentamiento de agua de red, con la finalidad de limpiar la taladrina de las piezas tratadas.

Turbomáquinas térmicas: 1. Turbomáquinas térmicas. 2. Estudio y diseño de turbinas de gas. 3. Problemas

Contenido: - Instalaciones de turbina de gas. - Análisis de los procesos termodinámicos. - Conceptos básicos para el análisis de turbinas de gas: a) Instalación de turbina de gas. b) Turbina como máquina térmica. - Análisis mediante el software Turgas.

Estimating reflectivity values from wind turbines for analyzing the potential impact on weather radar services

Locate full-text(opens in a new window)|View at Publisher| Export | Download | More... Atmospheric Measurement Techniques Volume 8, Issue 5, 27 May 2015, Pages 2183-2193 Estimating reflectivity values from wind turbines for analyzing the potential impact on weather radar services (Article) Angulo, I.a, Grande, O.a, Jenn, D.b, Guerra, D.a, De La Vega, D.a a University of the Basque Country (UPV/EHU), Bilbao, Spain b Naval Postgraduate School, Monterey, United States View references (28) Abstract The World Meteorological Organization (WMO) has repeatedly expressed concern over the increasing number of impact cases of wind turbine farms on weather radars. Current signal processing techniques to mitigate wind turbine clutter (WTC) are scarce, so the most practical approach to this issue is the assessment of the potential interference from a wind farm before it is installed. To do so, and in order to obtain a WTC reflectivity model, it is crucial to estimate the radar cross section (RCS) of the wind turbines to be built, which represents the power percentage of the radar signal that is backscattered to the radar receiver.

For the proposed model, a representative scenario has been chosen in which both the weather radar and the wind farm are placed on clear areas; i.e., wind turbines are supposed to be illuminated only by the lowest elevation angles of the radar beam.

This paper first characterizes the RCS of wind turbines in the weather radar frequency bands by means of computer simulations based on the physical optics theory and then proposes a simplified model to estimate wind turbine RCS values. This model is of great help in the evaluation of the potential impact of a certain wind farm on the weather radar operation.

Motores térmicos de vapor, gas y de combustión interna a través de PBL (Project Based Learning)

Nivel educativo: Grado. Duración (en horas): De 31 a 40 horas

Simplified Formulae for the Estimation of Offshore Wind Turbines Clutter on Marine Radars

The potential impact that offshore wind farms may cause on nearby marine radars should be considered before the wind farm is installed. Strong radar echoes from the turbines may degrade radars' detection capability in the area around the wind farm. Although conventional computational methods provide accurate results of scattering by wind turbines, they are not directly implementable in software tools that can be used to conduct the impact studies. This paper proposes a simple model to assess the clutter that wind turbines may generate on marine radars. This method can be easily implemented in the system modeling software tools for the impact analysis of a wind farm in a real scenario.