In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential inve...In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential investigations into the use of supercritical carbon dioxide (sCO2) power cycles. Climate change mitigation is the ultimate driver for this increased interest;other relevant issues include the potential for high cycle efficiency and a circular economy. In this study, a 25 MWe recompression closed Brayton cycle (RCBC) has been assessed, and sCO2 has been proposed as the working fluid for the power plant. The methodology used in this research work comprises thermodynamic and techno-economic analysis for the prospective commercialization of this sCO2 power cycle. An evaluated estimation of capital expenditure, operational expenditure, and cost of electricity has been considered in this study. The ASPEN Plus simulation results have been compared with theoretical and mathematical calculations to assess the performance of the compressors, turbine, and heat exchangers. The results thus reveal that the cycle efficiency for this prospective sCO2 recompression closed Brayton cycle increases (39% - 53.6%) as the temperature progressively increases from 550˚C to 900˚C. Data from the Aspen simulation model was used to aid the cost function calculations to estimate the total capital investment cost of the plant. Also, the techno-economic results have shown less cost for purchasing equipment due to fewer components being required for the cycle configuration as compared to the conventional steam power plant.展开更多
Over the last decade or so, private sector＇s financing through public-private partnerships （PPPs） has become increasingly popular as a way of procuring and maintaining public-sector infrastructure. Albania in the l...Over the last decade or so, private sector＇s financing through public-private partnerships （PPPs） has become increasingly popular as a way of procuring and maintaining public-sector infrastructure. Albania in the last few years had improved the legal frame so as to give the local authorities the right to initiate PPP projects. The local authorities have not built the expertise for such projects yet. The aim of this paper is to help the local authorities in Albania to support the building of the expertise for such projects. A financial model is used to make the required calculations for the bid at various phases of the project, although this paper is not intended to cover financial modeling in depth, the key inputs and outputs for the financial model are reviewed, including the financing costs. The model has to work within the constraints of： （I） the public authority＇s requirements for the PPP contract term and service fee profile; and （2） lenders＇ requirements for the term and payment profile of their debt.展开更多
We have examined whether institutional ownership and family control in Malaysia are linked to capital spending.Using panel data from 220 listed companies in Malaysia,we showed that institutional ownership is positivel...We have examined whether institutional ownership and family control in Malaysia are linked to capital spending.Using panel data from 220 listed companies in Malaysia,we showed that institutional ownership is positively associated with capital expenditure(CAPEX).Consistent with institutional investors’monitoring role in corporate governance,the results indicate that this relationship was driven by the presence of growth opportunities.However,we found that family control was negatively associated with CAPEX.Additional analyses showed that this relationship was moderated by company size.While larger family firms invest less in CAPEX,smaller family firms invest more in CAPEX,indicating that the benefits of lower agency conflicts in family firms hold only for smaller firms.Our results are robust to alternative empirical measurements that account for firm characteristics and the endogeneity of institutional shareholding.展开更多
文摘In recent years, there has been global interest in meeting targets relating to energy affordability and security while taking into account greenhouse gas emissions. This has heightened major interest in potential investigations into the use of supercritical carbon dioxide (sCO2) power cycles. Climate change mitigation is the ultimate driver for this increased interest;other relevant issues include the potential for high cycle efficiency and a circular economy. In this study, a 25 MWe recompression closed Brayton cycle (RCBC) has been assessed, and sCO2 has been proposed as the working fluid for the power plant. The methodology used in this research work comprises thermodynamic and techno-economic analysis for the prospective commercialization of this sCO2 power cycle. An evaluated estimation of capital expenditure, operational expenditure, and cost of electricity has been considered in this study. The ASPEN Plus simulation results have been compared with theoretical and mathematical calculations to assess the performance of the compressors, turbine, and heat exchangers. The results thus reveal that the cycle efficiency for this prospective sCO2 recompression closed Brayton cycle increases (39% - 53.6%) as the temperature progressively increases from 550˚C to 900˚C. Data from the Aspen simulation model was used to aid the cost function calculations to estimate the total capital investment cost of the plant. Also, the techno-economic results have shown less cost for purchasing equipment due to fewer components being required for the cycle configuration as compared to the conventional steam power plant.
文摘Over the last decade or so, private sector＇s financing through public-private partnerships （PPPs） has become increasingly popular as a way of procuring and maintaining public-sector infrastructure. Albania in the last few years had improved the legal frame so as to give the local authorities the right to initiate PPP projects. The local authorities have not built the expertise for such projects yet. The aim of this paper is to help the local authorities in Albania to support the building of the expertise for such projects. A financial model is used to make the required calculations for the bid at various phases of the project, although this paper is not intended to cover financial modeling in depth, the key inputs and outputs for the financial model are reviewed, including the financing costs. The model has to work within the constraints of： （I） the public authority＇s requirements for the PPP contract term and service fee profile; and （2） lenders＇ requirements for the term and payment profile of their debt.
文摘We have examined whether institutional ownership and family control in Malaysia are linked to capital spending.Using panel data from 220 listed companies in Malaysia,we showed that institutional ownership is positively associated with capital expenditure(CAPEX).Consistent with institutional investors’monitoring role in corporate governance,the results indicate that this relationship was driven by the presence of growth opportunities.However,we found that family control was negatively associated with CAPEX.Additional analyses showed that this relationship was moderated by company size.While larger family firms invest less in CAPEX,smaller family firms invest more in CAPEX,indicating that the benefits of lower agency conflicts in family firms hold only for smaller firms.Our results are robust to alternative empirical measurements that account for firm characteristics and the endogeneity of institutional shareholding.
