The decarbonization of the heating sector is crucial for the green transition of the energy mix. This study investigates threefold the economic and environmental performance of deep geothermal heating investments in Northern Belgium First, techno-economic and life cycle assessment (LCA) are performed, followed by a global sensitivity analysis focusing on the geological uncertainty. Lastly, real options analysis (ROA) is employed to investigate the economic and environmental value of the investors’ flexibility. A novel ROA method is proposed that considers the LCA results to calculate development decisions that minimize the expected environmental impact of the investment. The results show that the economic and environmental performance of the investment vary with the energy prices and the electricity mix. The performance of the investment is driven by the plant’s pumping requirements, which are induced by the relatively low rock permeability at the targeted location. Also, the results’ variability mainly originates by uncertainty regarding the permeability value. Nevertheless, the investors’ flexibility adds large economic and environmental value to the investment. However, the development strategies that optimize the economic or the environmental performance of the plant present some trade-offs. This study demonstrates that the economic and environmental performance of deep geothermal heating investments in Northern Belgium can be improved by focusing on the factors that simultaneously drive the costs, environmental impacts, and their variability. It also shows that utilizing the investors’ flexibility to optimize the investment’s economic and environmental performance can add significant value to the investment.
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RBINS Staff Publications 2024
The Velaux-La Bastide Neuve fossil-bearing site (Bouches-du-Rhône, France) has yielded a diverse vertebrate assemblage dominated by dinosaurs, including the titanosaur Atsinganosaurus velauciensis.We here provide a complete inventory of vertebrate fossils collected during two large-scale field campaigns. Numerous crocodilian teeth occur together with complete skulls. Pterosaur, hybodont shark and fish elements are also represented but uncommon. Magnetostratigraphic analyses associated with biostratigraphic data from dinosaur eggshell and charophytes suggest a Late Campanian age for the locality. Lithologic and taphonomic studies, associated with microfacies and palynofacies analyses, indicate a fluvial setting of moderate energy with broad floodplain. Palynomorphs are quite rare; only three taxa of pollen grains occur: a bisaccate taxon, a second form probably belonging to the Normapolles complex, and another tricolporate taxon. Despite the good state of preservation, these taxa are generally difficult to identify, since they are scarce and have a very minute size. Most of the vertebrate remains are well preserved and suggest transport of the carcasses over short distances before accumulation in channel and overbank facies, together with reworked Aptian grains of glauconite, followed by a rapid burial. The bones accumulated in three thin layers that differ by their depositional modes and their taphonomic histories. Numerous calcareous and iron oxides-rich paleosols developed on the floodplain, suggesting an alternating dry and humid climate in the region during the Late Campanian.
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