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Inproceedings Reference Sustainability impact assessment of deep subsurface use in Flanders
Located in Library / RBINS Staff Publications 2024
Inproceedings Reference The subsurface hydrogen storage potential in Belgium
Located in Library / RBINS Staff Publications 2024
Inproceedings Reference Geo-techno-economic assessment of CO2 capture, transport, and storage chain options for a cement plant in Germany
Located in Library / RBINS Staff Publications 2024
Inproceedings Reference Implementing geological and economic uncertainty in a techno-economic analysis of deep geothermal energy projects
Located in Library / RBINS Staff Publications 2024
Article Reference Integrated assessment of deep geothermal heating investments in Northern Belgium through techno-economic, life cycle, global sensitivity and real options analysis
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.
Located in Library / RBINS Staff Publications 2024
Article Reference Integrated geo-techno-economic and real options analysis of the decision to invest in a medium enthalpy deep geothermal heating plant. A case study in Northern Belgium
Deep geothermal energy (DGE) is a renewable energy source that is considered to cause a low global warming impact. The potential of DGE for heating is widespread and interest in deep geothermal heating (DGH) has been growing in Europe to help achieving the decarbonization of the heating mix. Nevertheless, despite its large potential, DGH development in Europe remains underexplored. DGH investments are hindered by the risks born by geological and market uncertainties. However, various flexibility options inherent to the development process, such as the option to abandon or defer, could partly mitigate these risks. To account for managerial flexibility in the investment analysis, this study suggests a novel real options (RO) framework. The RO model splits DGH development into five phases, and considers several compound options and geological and market uncertainties to investigate the timing and value of DGH development at the Campine Basin in Northern Belgium. The RO model is coupled to a geo-techno-economic model and is solved using the Least Squares Monte Carlo algorithm. The RO analysis finds a 51% probability of abandonment and an average deferral time for the development of 12 years. The abandon option mitigates the risk of large financial losses in case of inadequate geological conditions. The defer option allows the investors to wait for more favorable market conditions before investing, to increase the project value. The results show that DGH development in the investigated area is not economically desirable. However, the investors’ flexibility increases the project value by 12.16 million EUR, compared to a conventional techno-economic analysis. The implementation of supporting policy measures improves the economic performance of the plant. The consideration of flexibility leads to supporting policy measures with 3–4 times lower governmental expenditure, compared to a conventional techno-economic analysis. This study shows that a RO approach is more suitable to investigate DGH investments than static techno-economic methods. The inclusion of flexibility allows for identifying development pathways that increase the project value and for designing more cost-efficient supporting policy schemes.
Located in Library / RBINS Staff Publications 2024
Article Reference Hastula strigilata revisited: Part III. Description of two new species from Australia and the Hawaiian Islands (Gastropoda: Conoidea: Terebridae)
Two morphospecies that remained undescribed in a previous study are described as new from Australia and the Hawaiian Islands, respectively and facilitated by the availability of recently acquired additional material.
Located in Library / RBINS Staff Publications 2024
Article Reference Terebra cloveri sp. nov., a new species of Terebridae from the W Philippine Sea
Terebra cloveri sp. nov. is described from the southeastern South China Sea (West Philippines Sea - Philippines) and compared with its congeners with which it has historically been mistaken.
Located in Library / RBINS Staff Publications 2024
Article Reference Partecosta milesi sp. nov., a new cryptic species of Terebridae from the SW Indian Ocean, with a revision of South African Gradaterebra species
Partecosta milesi sp. nov. is described as new and compared to its sole morphological congener in the SW Indian Ocean. The South African members of the genus Gradaterebra are revised of which knowledge of the shell morphology remains only peripheral.
Located in Library / RBINS Staff Publications 2024
Article Reference Environmental and climatic inferences for Marine Isotope Stage 2 of southern Belgium (Meuse valley, Namur Province) based on rodent assemblages
Located in Library / RBINS Staff Publications 2024