Map of a part of eastern Asia to show the commercial position of the productive coal fields of Yesso, Japan

Kartta kuuluu A. E. Nordenskiöldin kokoelmaan

Analyzing the Effects of the New Renewable Energy Policy in Russia on Investments into Wind, Solar and Small Hydro Power

This thesis presents an analysis of recently enacted Russian renewable energy policy based on capacity mechanism. Considering its novelty and poor coverage by academic literature, the aim of the thesis is to analyze capacity mechanism influence on investors’ decision-making process. The current research introduces a number of approaches to investment analysis. Firstly, classical financial model was built with Microsoft Excel® and crisp efficiency indicators such as net present value were determined. Secondly, sensitivity analysis was performed to understand different factors influence on project profitability. Thirdly, Datar-Mathews method was applied that by means of Monte Carlo simulation realized with Matlab Simulink®, disclosed all possible outcomes of investment project and enabled real option thinking. Fourthly, previous analysis was duplicated by fuzzy pay-off method with Microsoft Excel®. Finally, decision-making process under capacity mechanism was illustrated with decision tree. Capacity remuneration paid within 15 years is calculated individually for each RE project as variable annuity that guarantees a particular return on investment adjusted on changes in national interest rates. Analysis results indicate that capacity mechanism creates a real option to invest in renewable energy project by ensuring project profitability regardless of market conditions if project-internal factors are managed properly. The latter includes keeping capital expenditures within set limits, production performance higher than 75% of target indicators, and fulfilling localization requirement, implying producing equipment and services within the country. Occurrence of real option shapes decision-making process in the following way. Initially, investor should define appropriate location for a planned power plant where high production performance can be achieved, and lock in this location in case of competition. After, investor should wait until capital cost limit and localization requirement can be met, after that decision to invest can be made without any risk to project profitability. With respect to technology kind, investment into solar PV power plant is more attractive than into wind or small hydro power, since it has higher weighted net present value and lower standard deviation. However, it does not change decision-making strategy that remains the same for each technology type. Fuzzy pay-method proved its ability to disclose the same patterns of information as Monte Carlo simulation. Being effective in investment analysis under uncertainty and easy in use, it can be recommended as sufficient analytical tool to investors and researchers. Apart from described results, this thesis contributes to the academic literature by detailed description of capacity price calculation for renewable energy that was not available in English before. With respect to methodology novelty, such advanced approaches as Datar-Mathews method and fuzzy pay-off method are applied on the top of investment profitability model that incorporates capacity remuneration calculation as well. Comparison of effects of two different RE supporting schemes, namely Russian capacity mechanism and feed-in premium, contributes to policy comparative studies and exhibits useful inferences for researchers and policymakers. Limitations of this research are simplification of assumptions to country-average level that restricts our ability to analyze renewable energy investment region wise and existing limitation of the studying policy to the wholesale power market that leaves retail markets and remote areas without our attention, taking away medium and small investment into renewable energy from the research focus. Elimination of these limitations would allow creating the full picture of Russian renewable energy investment profile.

Productizing of advanced service for power plants

Työn tavoitteena on kehittää ABB:lle palvelutuote, jota voidaan tarjota voimalaitosasiakkaille. Uuden palvelutuotteen tulee vastata ABB:n uuden strategian linjauksiin. Palvelulla tarjotaan asiakkaille 1.1.2015 voimaan tulleen energiatehokkuuslain määrittelemien pakollisten toimenpiteiden suoritusta. Työssä kerätään, käsitellään ja analysoidaan tietoa voimalaitosasiakkaille suunnatun palvelun tuotteistamisprosessin päätöksenteon tueksi. Palvelutuotteen kehittämistä varten tutkitaan ABB:n nykyisiä palvelutuotteita, osaamista ja referenssi projekteja, energiatehokkuuslakia, voimalaitosten energiatehokkuus-potentiaalia ja erilaisia energiakatselmusmalleja. Päätöksenteon tueksi tehdään referenssiprojektina energia-analyysi voimalaitokselle, jossa voimalaitoksesta tehdään ipsePRO simulointiohjelmalla mallinnus. Mallinnuksen ja koeajojen avulla tutkitaan voimalaitoksen minimikuorman optimointia. Markkinatutkimuksessa selvitetään lainsäädännön vaikutusta, nykyistä markkinatilannetta, potentiaalisia asiakkaita, kilpailijoita ja ABB:n mahdollisuuksia toimia alalla SWOT–analyysin avulla. Tutkimuksen tulosten perusteella tehdään päätös tuotteistaa voimalaitoksille palvelutuote, joka sisältää kaikki toimet energiatehokkuuslain asettamien vaatimusten täyttämiseen yrityksen energiakatselmuksen vastuuhenkilön, energiakatselmuksen ja kohdekatselmuksien teon osalta. Lisäksi työn aikana Energiavirasto myönsi ABB:lle pätevyyden toimia yrityksen energiakatselmuksen vastuuhenkilönä, mikä on edellytyksenä palvelun tarjoamiselle.

The role of nuclear power in the future energy system

Currently widely accepted consensus is that greenhouse gas emissions produced by the mankind have to be reduced in order to avoid further global warming. The European Union has set a variety of CO2 reduction and renewable generation targets for its member states. The current energy system in the Nordic countries is one of the most carbon free in the world, but the aim is to achieve a fully carbon neutral energy system. The objective of this thesis is to consider the role of nuclear power in the future energy system. Nuclear power is a low carbon energy technology because it produces virtually no air pollutants during operation. In this respect, nuclear power is suitable for a carbon free energy system. In this master's thesis, the basic characteristics of nuclear power are presented and compared to fossil fuelled and renewable generation. Nordic energy systems and different scenarios in 2050 are modelled. Using models and information about the basic characteristics of nuclear power, an opinion is formed about its role in the future energy system in Nordic countries. The model shows that it is possible to form a carbon free Nordic energy system. Nordic countries benefit from large hydropower capacity which helps to offset fluctuating nature of wind power. Biomass fuelled generation and nuclear power provide stable and predictable electricity throughout the year. Nuclear power offers better energy security and security of supply than fossil fuelled generation and it is competitive with other low carbon technologies.

Solid-state reference and ion-selective electrodes : towards portable potentiometric sensing

Potentiometric sensors are very attractive tools for chemical analysis because of their simplicity, low power consumption and low cost. They are extensively used in clinical diagnostics and in environmental monitoring. Modern applications of both fields require improvements in the conventional construction and in the performance of the potentiometric sensors, as the trends are towards portable, on-site diagnostics and autonomous sensing in remote locations. The aim of this PhD work was to improve some of the sensor properties that currently hamper the implementation of the potentiometric sensors in modern applications. The first part of the work was concentrated on the development of a solid-state reference electrode (RE) compatible with already existing solid-contact ion-selective electrodes (ISE), both of which are needed for all-solid-state potentiometric sensing systems. A poly(vinyl chloride) membrane doped with a moderately lipophilic salt, tetrabutylammonium-tetrabutylborate (TBA-TBB), was found to show a satisfactory stability of potential in sample solutions with different concentrations. Its response time was nevertheless slow, as it required several minutes to reach the equilibrium. The TBA-TBB membrane RE worked well together with solid-state ISEs in several different situations and on different substrates enabling a miniature design. Solid contacts (SC) that mediate the ion-to-electron transduction are crucial components of well-functioning potentiometric sensors. This transduction process converting the ionic conduction of an ion-selective membrane to the electronic conduction in the circuit was studied with the help of electrochemical impedance spectroscopy (EIS). The solid contacts studied were (i) the conducting polymer (CP) poly(3,4-ethylienedioxythiophene) (PEDOT) and (ii) a carbon cloth having a high surface area. The PEDOT films were doped with a large immobile anion poly(styrene sulfonate) (PSS-) or with a small mobile anion Cl-. As could be expected, the studied PEDOT solid-contact mediated the ion-toelectron transduction more efficiently than the bare glassy carbon substrate, onto which they were electropolymerized, while the impedance of the PEDOT films depended on the mobility of the doping ion and on the ions in the electrolyte. The carbon cloth was found to be an even more effective ion-to-electron transducer than the PEDOT films and it also proved to work as a combined electrical conductor and solid contact when covered with an ion-selective membrane or with a TBA-TBB-based reference membrane. The last part of the work was focused on improving the reproducibility and the potential stability of the SC-ISEs, a problem that culminates to the stability of the standard potential E°. It was proven that the E° of a SC-ISE with a conducting polymer as a solid contact could be adjusted by reducing or oxidizing the CP solid contact by applying current pulses or a potential to it, as the redox state of the CP solid-contact influences the overall potential of the ISE. The slope and thus the analytical performance of the SC-ISEs were retained despite the adjustment of the E°. The shortcircuiting of the SC-ISE with a conventional large-capacitance RE was found to be a feasible instrument-free method to control the E°. With this method, the driving force for the oxidation/reduction of the CP was the potential difference between the RE and the SC-ISE, and the position of the adjusted potential could be controlled by choosing a suitable concentration for the short-circuiting electrolyte. The piece-to-piece reproducibility of the adjusted potential was promising, and the day-today reproducibility for a specific sensor was excellent. The instrumentfree approach to control the E° is very attractive considering practical applications.