EVALUATE, the new application for the rapid conversion of coal-fired power plants is announced by Terrapraxis. The organization seeks to accelerate solutions for hard-to-decarbonize sectors.
A profitability study
EVALUATE allows coal plant owners and investors to perform a quick assessment. This assessment covers 2400 coal-fired power plants worldwide. It consists of an initial analysis of the business case.
It includes estimated costs and milestone schedules for retrofitting existing coal plants. The total target cost for repowering is $2000/KWe. In addition, the target duration of the project is less than 5 years.
A social impact
According to the association, this repowering would save thousands of jobs. This would allow existing facilities to be repurposed rather than closed. It would also save millions of dollars in capital costs by using existing infrastructure and transit lines.
EVALUATE’s ambition is to to radically accelerate a clean and equitable energy transition. In addition, it provides safe, reliable and clean energy to millions of people around the world. Kirsty Gogan, co-founder and managing partner of TerraPraxis, says:
“Repurposing existing fossil infrastructure can also help ensure continuity for communities that rely on existing power plants for energy, jobs, tax revenue, and continued economic development. Leveraging the power of artificial intelligence and the cloud can further accelerate the cost-effective upgrade of thermal power plant sites with new advanced heat sources.”
A strategic alliance
The application benefits from joint development with Microsoft. EVALUATE was presented for the first time in Sharm el-Sheikh, Egypt, during COP27 .It leverages the computational and artificial intelligence capabilities of Azure.
This allows us to analyze the details of every coal-fired power plant in the world to find appropriate PRM configurations for repowering. Afterwards, the application generates financial and technical information for each repowering project. It then uses the Microsoft Power Platform to make them available to coal plant owners.
Multiple partners
Brad Smith, president and deputy director of Microsoft, says:
“The world needs more energy, not less. To achieve carbon neutrality, we must come together and develop new sustainable energy sources, as well as transform existing ones. TerraPraxis’ solution to transforming fossil-fired power plants into carbon-free energy sources is a great example of the innovation the world will need to create a sustainable future.”
TerraPraxis has numerous partnerships with Bryden Wood, MIT and the University of Buffalo . In particular, the association is in collaboration with many utilities worldwide.
The association has a partnership with Schneider Electric in the field of advanced technology . TerraPraxis enters into a strategic partnership with Elementl Power. This partnership aims to identify, acquire and prepare several sites in the United States for the deployment of advanced nuclear technologies.
A standardized interface
As part of its strategy to accelerate the deployment of clean energy, the company will use the EVALUATE application. It will acquire and convert coal-fired power plants into advanced nuclear power plants. Eric Ingersoll, cofounder and managing partner of TerraPraxis, says:
“TerraPraxis’ coal repowering solution targets an energy cost of $35 to $40 per megawatt hour (not including tax credits). In the U.S., the new $30 per megawatt-hour production tax credit in the Inflation Reduction Act makes repowering with advanced nuclear technologies at coal plants a very cost-effective investment opportunity.”
TerraPraxis is actively working with several thermal energy providers to develop a standardized system interface. This system should work with multiple emission-free heat sources and coal-fired power plants. The association signed a letter of intent with Terrestrial Energy and others.
