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An Engineering Financial Analysis of a Research Sea Platform

In: Advances in Quantitative Economic Research

Author

Listed:
  • Fotis Mavromatakis

    (Hellenic Mediterranean University)

  • Ioannis Katsigiannis

    (Hellenic Mediterranean University)

  • Hara Haritaki

    (Hellenic Mediterranean University)

  • Kyriakos Siderakis

    (Hellenic Mediterranean University)

  • Giorgos Stavrakakis

    (Technical University of Crete)

Abstract

This chapter presents a financial and operational analysis of a sea platform that is used for research purposes and is planned to be located north of Heraklion city, Crete Island. The operation of the platform will be based mainly on renewable energy technologies, such as photovoltaics and wind turbines. In order to utilize properly the renewable energy potential, the sea platform will also include batteries and diesel generator, whereas the option of grid interconnection with Crete Island is also examined, in order to purchase and sell its electricity when needed. The alternative options that are examined include different battery autonomy, various funding options, and sensitivity analysis of the results regarding different lending parameters. The financial indices used in this analysis are: net present value, internal rate of return, discounted payback period, and weighted average cost of capital. The results show that the operation of the sea platform can be economically viable if annual incomes of a few hundred thousand euros exist, provided by platforms research activities.

Suggested Citation

  • Fotis Mavromatakis & Ioannis Katsigiannis & Hara Haritaki & Kyriakos Siderakis & Giorgos Stavrakakis, 2022. "An Engineering Financial Analysis of a Research Sea Platform," Springer Proceedings in Business and Economics, in: Nicholas Tsounis & Aspasia Vlachvei (ed.), Advances in Quantitative Economic Research, chapter 0, pages 425-438, Springer.
    • Handle: RePEc:spr:prbchp:978-3-030-98179-2_29
    DOI: 10.1007/978-3-030-98179-2_29
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