Techno-Economic Assessment Study for a Large-Scale CO2 Capture and Storage Demonstration Project

Abstract

This study evaluates three CO₂ point sources to establish criteria for recommending demonstration sites through a Techno-Economic Assessment (TEA). Using uniform design criteria, the analysis examined key process configurations, including flue gas treatment, CO₂ capture, solvent regeneration, compression, and liquefaction. The study was based on a capture capacity of 1 million tons of CO₂ annually (1 MTPA) at 90% efficiency, utilizing a commercially available CO₂ absorbent (30 wt% monoethanolamine, MEA). The resulting design packages provided key economic and operational metrics such as utility consumption, footprint, CAPEX, and OPEX for comparative analysis.

Key findings reveal the significant influence of flue gas CO₂ concentration on process performance and costs, assuming the same CO2 capture capacity (1 MTPA). The results indicate that as the CO₂ concentration in flue gas decreases, the capture cost tends to increase. Consequently, coal-fired power plants were identified as the most suitable candidates for an initial large-scale demonstration project due to their high CO₂ concentration and relatively lower costs.

An additional analysis evaluated the potential improvements of applying an advanced solvent, developed domestically for CO₂ capture in coal-fired power plants. The advanced solvent demonstrated a 44% reduction in regeneration energy, leading to a significant reduction in overall OPEX by up to 23%.

These findings provide valuable insights for early-stage assessments of large-scale CCS demonstration projects, supporting South Korea’s efforts to achieve its 2030 greenhouse gas reduction target under the Nationally Determined Contributions (NDC).

Keywords: Techno-economic Assessment; TEA; Large Scale Demonstration; Process Design; Cost Estimation; Point Source; Feasibility Study;