Economic feasibility analysis of the implementation of a high value-added molecule extraction system in an olive oil mill

The production of olive oil generates several by-products that can be seen as an additional business opportunity. Among them are the olive pits, already used for heat and/or electricity generation in some mills. They contain compounds that are commercially very interesting and, if recovered, contribute to the sustainability of the olive mills. The work presented in this paper is a preliminary evaluation of the economic feasibility of implementing a system based on a batch prototype with 1 m3 for the extraction of high value-added bioactive molecules from olive pits that are separated during the production of virgin olive oil. For the analysis, a small representative olive mill in Portugal was considered and the traditional Discounted Cash Flow Method was applied. Based on the assumptions made, the simple payback for implementation a system for the extraction of value-added molecules from the olive pits is around 7 years.

Annual Average Value of Solar Radiation and its Variability in Portugal

Solar resource assessment is essential for the different phases of solar energy projects, such as preliminary design engineering, financing including due diligence and, later, insurance phases. An important aspect is the long term resource estimation. This kind of estimation can only be obtained through the statistical analysis of long-term data series of solar radiation measurements, preferably ground measurements. This paper is a first step in this direction, with an initial statistical analysis performed over the radiation data from a national measurement network, consisting of eighty-nine meteorological stations. These preliminary results are presented in figures that represent the annual average values of Global Horizontal Irradiation (GHI) and its Variability in the Portuguese continental territory. These results show that the South of Portugal is the most suitable area for the implementation of medium to large scale solar plants.