Techno-economic performance comparison of wind turbines with different rated power at the Gwadar wind corridor using RET Screen 4

Abstract This rigorous study is based on techno-economic performance analysis of wind turbines with different rated power (2MW & 3MW) for Gwadar using RETScreen 4 software. The software collects climatic data form its database and requires input parameters including wind shear exponent, wind turbine selection, hub height, and some costs to generate outcomes required for financial and technical analysis. Hellman power law is used to extrapolate wind speed at the required height. It is verified that the speed of wind significantly gets stronger with an increase in height. The techno-economic analysis is subdivided into three analyses named energy production, financial and emission analysis and then comparative analysis of both wind turbines is performed for each analysis to select the best turbine for the Gwadar site. Comparative analysis of 2MW & 3MW wind turbines is performed based on a capacity factor, the electricity that can be exported to the grid, Net Present Value, Internal Rate of Return, payback period, annual savings and GHG emissions reduction. The study indicates that the 3MW wind turbine is a suitable and profitable option to be installed at Gwadar.Statement of Industrial relevance:Wind energy is a viable option used for the clean generation of energy in Pakistan to meet the electricity demands of the nation and to reduce dependency on fossil fuel power plants. This study provides helpful insights to wind energy sector of Pakistan. The major objective of this research is to help the renewable energy companies to invest in the wind corridors of Pakistan.Novelty statement:The author believes to the best of his knowledge that none other work has previously been reported for the selection of most suitable wind turbine at Gwadar wind corridor on the basis of technoeconomic analysis. RET Screen 4 utilization for this purpose is also a novelty of this work. This study indicates that the 3MW wind turbine is a suitable and profitable option to be installed at Gwadar.