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Review of Garolim Tidal Power Project

by Dal Soo Lee, Korea Inst of Construction, Technology, Seoul, Republic of Korea,
Ki Dai Yum, Korea Inst of Construction, Technology, Seoul, Republic of Korea,
Won Oh Song, Korea Inst of Construction, Technology, Seoul, Republic of Korea,



Document Type: Proceeding Paper

Part of: Ocean Energy Recovery

Abstract:

The feasibility study of Garolim tidal power project made in 1981 was reviewed in 1986 and updated in 1988. The review study generally confirmed the result of the 1981 study. The generator installation was reoptimized leading to a reduction from 480 MW to 400 MW with annual energy output of 836 GWh. Assuming an annual interest rate of 10%, the cost of energy would be 8.06 US cents/kWh. The prospective IRR for the project would only be in the range of 4.5% to 6%. The economic aspects of the project were updated in 1988 with a little improvement.

Subject Headings: Renewable energy | Project management | Feasibility studies | Power plants | Hydro power | Hydrodynamics | Energy conversion | United States | South Korea | Asia

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