Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...

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Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Geothermal Power
         Development Project at
         Uttrakhand

   Renewable Energy
Government of Uttarakhand
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Contents

Advantage India
Global Geothermal Scenario
Types of Geothermal Electricity Generation
Advantage India
Sector Advantages
Uttarakhand – Key Credentials
Uttarakhand Competitive Advantage
Project Information
Infrastructure Availability
Policies, Schemes & Incentives
Key Contacts

Page 2     26 September
           2018
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Geothermal Potential

                                            GLOBAL GEOTHERMAL SCENARIO
      ►   Geothermal Energy is the vast reservoir of heat energy in the earth’s interior, whose surface
          manifestations are the volcanoes, fumaroles, geysers, steaming grounds and hot springs
      ►   Geothermal energy is an enormous, underused heat and power resource that is clean (emits
          little or no greenhouse gases), reliable (average system availability of 95%), and home grown
      ►   Unlike wind and solar resources, which are more dependent upon weather fluctuations and
          climate changes, geothermal resources are available 24 hours a day, 7 days a week
      ►   The total installed capacity for global geothermal power generation was estimated to be around
          14.06 gigawatts (GW) till FY 2016-2017*
          ► Top six leading countries in the geothermal power generation are USA, Philippines,
              Indonesia, Turkey, New Zealand and Mexico
          ► Geothermal power runs at a much higher load factor than wind or solar, so geothermal
              produces significantly more electricity per MW of capacity
          ► The most common non-electric uses world-wide are heat pumps, followed by bathing, space
              heating, greenhouses, aquaculture and industrial processes
      ►   Geothermal energy contributes a tiny proportion of the world’s primary energy consumption
      ►   Even in electricity generation, geothermal produces less than 1% of the world’s output
      ►   Geothermal power has considerable potential for growth as the amount of heat within 10,000
          metres of the earth's surface is estimated to contain 50,000 times more energy than all oil and
          gas resources worldwide**

                                           GLOBAL GEOTHERMAL POTENTIAL

     Page 3                 26 September
                            2018
*http://www.thinkgeoenergy.com/top-10-geothermal-countries-based-on-installed-capacity-year-end-2017/
**https://www.lordgrey.org.uk/~f014/usefulresources/aric/Resources/Fact_Sheets/Key_Stage_4/Energy/07.h
tml
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Types of Geothermal Electricity
     Generation
                                      TYPES OF ELECTRICITY GENERATION

       ►   Geothermal power plants utilize hydrothermal resources that contain both heat (thermal) and
           water (hydro)
       ►   Geothermal power generation is valued for its high reliability, independence from short term
           weather fluctuations, and long operating life
       ►   Individual plants, such as Wairakei (NZL), the Geysers (USA), Larderello (ITA), Bulalo (PHL)
           and Oita (JPN) have reliably generated electricity for over 40 to 50 years*
       ►   The diagram below illustrates three types of geothermal power plants: dry steam, flash, and
           binary

                          THREE TYPES OF GEOTHERMAL POWER PLANTS

                                                                                           Dry Steam Power Plants

            Production of Geothermal Energy                                               Flash steam power Plants

                                                                                          Binary Cycle Power Plants

     Page 4                 26 September
                            2018
*https://www.worldenergy.org/wp-content/uploads/2017/03/WEResources_Geothermal_2016.pdf
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Types of Geothermal Electricity
      Generation (1/3)
                                            TYPES OF ELECTRICITY GENERATION

        Dry Steam Power                                ►   Dry steam power plants were the first type of geothermal plants
        Plants                                             and was named dry steam since steam is extracted from the
                                                           underground reservoirs in place of hot water
                                                       ►   Dry steam reservoirs use the water in the earth's crust, which is
                                                           heated by the mantle and released through vents in the form of
                                                           steam
                                                       ►   The dry steam power plant is suitable where the geothermal steam
                                                           is not mixed with water
                                                       ►   Production wells are drilled down to the aquifer and the
                                                           superheated, pressurised steam (180°-350°C) is brought to the
                                                           surface at high speeds, and passed through a steam turbine to
                                                           generate electricity*
                                                       ►   The steam is passed through a condenser to convert it to water
                                                       ►   This improves the efficiency of the turbine and avoids the
                                                           environmental problems caused from the direct release of steam
                                                           into the atmosphere

                      SCHEMATIC DIAGRAM OF A DRY STEAM POWER PLANT

      Page 5                      26 September
                                  2018
*https://hub.globalccsinstitute.com/publications/geothermal-electricity-and-combined-heat-power/dry-steam-and-
flash-power-plants
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Types of Geothermal Electricity
     Generation (2/3)
                                       TYPES OF ELECTRICITY GENERATION

       Flash steam power                         ►   Flash steam is today’s most common power plant type
       Plants                                    ►   The first geothermal power plant that used flash steam technology
                                                     was the Wairakei Power station in New Zealand, which was built in
                                                     1958
                                                 ►   Geothermal flash steam power plants use water at temperatures of
                                                     at least 182°C (360°F)*
                                                 ►   Fluid is sprayed into a tank held at a much lower pressure than the
                                                     fluid, causing some of the fluid to rapidly vaporize, or "flash”
                                                 ►   The vapor then drives a turbine, which drives a generator
                                                 ►   If any liquid remains in the tank, it can be flashed again in a second
                                                     tank (double flash) to extract even more energy
                                                 ►   The only by-products of this process are excess steam and trace
                                                     gases

          SCHEMATIC DIAGRAM OF FLASH STEAM GEOTHERMAL POWER
                                 PLANT

     Page 6                26 September
                           2018
*https://www.energy.ca.gov/almanac/renewables_data/geothermal/types.html
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Types of Geothermal Electricity
     Generation (3/3)
                                        TYPES OF ELECTRICITY GENERATION

       Binary Cycle Power                         ►   Binary plants, like dry-steam and flash-steam plants, make use of
       Plants                                         naturally sourced hot steam generated by activity from within the
                                                      Earth's core
                                                  ►   Binary plants specifically use a second working fluid (hence,
                                                      "binary"), usually an organic fluid (typically n-pentane), that has a
                                                      low boiling point and high vapour pressure at low temperatures
                                                      when compared to steam
                                                  ►   The geothermal fluid (predominantly water vapour) and working
                                                      fluid pass through a heat exchanger, where the working fluid
                                                      flashes to vapour and drives the turbines
                                                  ►   The cooled water vapour is then released back into the
                                                      underground reservoirs, so the cycle can begin anew
                                                  ►   No gas is emitted to the atmosphere, as the binary cycle is a
                                                      closed system
                                                  ►   Since water in underground reservoirs usually has moderate
                                                      temperatures, binary-cycle power plants will likely be the main
                                                      geothermal technology in the future

          SCHEMATIC DIAGRAM OF BINARY CYCLE GEOTHERMAL POWER
                                  PLANT

     Page 7                 26 September
                            2018
*http://large.stanford.edu/courses/2011/ph240/yan2/
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Advantage India (1/3)

                                                INDIAN GEOTHERMAL SCENARIO
      ►   India has a huge potential to become a leading contributor in generating eco-friendly and cost-
          effective geothermal power
      ►   The GSI (Geological Survey of India) has identified 340 geothermal energy locations in the
          country*
      ►   Most of these locations are in the low to medium temperature range, that is, from 35–98°C
          which is suitable for direct heat applications*
      ►   On the basis of enthalpy characteristics the geothermal systems in India, are classified into
          medium (100°C-200°C) and low enthalpy (90                              260                           468         100

        Cambay                           40-90                            150-175                       80-93       70

        West Coast                       46-72                            102-137                       75-129      47-59

        Sone-Narmada-                    60-95                            105-217                       120-290     60-90
        Tapi

        Godavari                         50-60                            175-215                       93-104      50

      Page 8                  26 September
                              2018
*https://mnre.gov.in/file-manager/akshay-urja/april-2017/Images/28-33.pdf
**http://www.earthscienceindia.info/pdfupload/tech_pdf-1255.pdf
***http://www.indiaenvironmentportal.org.in/files/file/Draft-National-Policy-on-Geothermal-Energy.pdf
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Advantage India (1/3)

                      MAJOR GEOTHERMAL ENERGY RESOURCES IN INDIA

                                                                                  TAPOBAN

      ►   The diagram map above depicts prominent geothermal sites in India
      ►   The 340 springs are grouped into seven geothermal provinces
          ► Himalayan (Puga, Chhumathang), Sohana belt in Haryana, Cambay Graben basin, Son-
            Narmada-Tapi (SONATA) lineament belt, West Coast, Godavari basin and Mahanadi basin
      ►   Some of the prominent geothermal resources include the Puga valley and Chhumathang in
          Jammu and Kashmir, Manikaran in Himachal Pradesh, Ratnagiri in Maharashtra, Tattapani in
          Chhattisgarh and Tapoban in Uttarakhand
     Page 9                 26 September
                            2018
*http://suvratk.blogspot.com/2010/09/engineered-geothermal-energy-projects.html
Geothermal Power Development Project at Uttrakhand - Renewable Energy Government of Uttarakhand - Invest ...
Advantage India (1/3)

                                         INDIAN GEOTHERMAL SCENARIO

                   The Status of Important Geothermal Regions in India
        Geothermal Field                     Estimated (min.) reservoir   Status
                                             Temp (Approx.)

        Tapoban Chamoli                      100oC at 430 meter           Magneto-telluric study done
                                                                          by NGRI
        (Uttarakhand)

        Tattapani Sarguja                    120oC - 150oC at 500 meter   Magneto-telluric study done
                                                                          by NGRI
        (Chhattisgarh)                       and 200o C at 2000 meter

        Puga geothermal                      240oC at 2000 meter          From geochemical and deep

        field                                                             geophysical studies (MT)

        Cambay Garben                        160oC at 1900 meter (From    Steam discharge was
                                                                          estimated 3000 cu
        (Gujrat)                             Oil exploration borehole)
                                                                          meter/ day with high
                                                                          temperature
                                                                          gradient

        Badrinath Chamoli                    150oC estimated              Magneto-telluric study was
                                                                          done by NGRI
        (Uttarakhand)
                                                                          Deep drilling required to
                                                                          ascertain
                                                                          geothermal field

        Surajkund,                           110oC                        Magneto-telluric study done
        Hazaribagh                                                        by NGRI (National Geophysical
                                                                          Research Institute)
        (Jharkhand)
                                                                          Heat rate 128.6 MW/m

        Manikaran                            100oC                        Magneto-telluric study done
                                                                          by NGRI Heat flow rate 130
        Kullu (H P)
                                                                          MW/m2

        Kasol                                110oC                        Magneto-telluric study done
                                                                          by NGRI
        Kullu (H P)
      Page 10                26 September
                             2018
*http://www.eai.in/ref/ae/geo/geo.html
Sector Advantages (1/2)

                                                   SECTOR ADVANTAGES (1/2)

                                                 ►   Geothermal power plants use a renewable resource that is not
       Cost Advantages                               susceptible to price fluctuations
                                                 ►   New geothermal plants currently are generating electricity from
                                                     0.05$ to 0.08$ per kilowatt hour (kwh)*
                                                 ►   Once the capital costs have been recovered, the price of power can
                                                     decrease below 0.05$ per kwh
                                                 ►   Thus the price of geothermal is within range of other electricity
                                                     choices available today when the costs of the lifetime of the plant
                                                     are considered

       Reliable Source of                        ►   Geothermal energy has many advantages as compared to other
       Renewable Energy                              renewable sources such as solar, wind or biomass
                                                 ►   It is an exceptionally constant source of energy that is not
                                                     dependent on either wind or sun, and available all year long

                                                 ►   Geothermal energy is extracted from the earth without burning
       Eco Friendly                                  fossil fuels, and geothermal fields produce almost no emissions

       High Efficiency of                        ►   Geothermal heat pump systems use 25% to 50% less electricity
       Geothermal Systems                            than conventional systems for heating or cooling, and with their
                                                     flexible design they can be adjusted to different situations,
                                                     requiring less space for hardware as opposed to conventional
                                                     systems**

       Little to No                              ►   Geothermal heat pumps are advantageous since the pipes come
       Geothermal System                             along with impressive warranty of up to 25 years, keeping in mind
       Maintenance                                   that the system can last for up to 20 years
                                                 ►   This is, essentially, a lifetime warranty

     Page 11               26 September
                           2018
**https://www.conserve-energy-future.com/advantages_geothermalenergy.php
Uttarakhand –
      Key Credentials (1/2)
                                               UTTARAKHAND STATE OVERVIEW
      ►   There are 62 thermal spring localities in Uttrakhand, all of them are confined to the Himalayan
          terrain, which lie in the altitude range of 1000m- 4000m above mean sea level and occupy 10-
          40 km wide zone along all the major valleys, viz., Kali, Alaknanda, Mandakini, Bhilangua,
          Bhagirathi, Yamuna and Tons
      ►   Of the 62 thermal spring localities, 37 occur in the Central Crystalline (Proterozoic) and 22 in
          the Garhwal Group of rocks (Precambrian) on either side of the Main Central Thrust (MCT)*
      ►   The remaining three localities occur in the Tethyan Himalaya
      ►   The thermal springs occurring within the Central Crystalline show high temperatures of 55°C to
          94°C, while a majority of the manifestations (16 out of 22), in the Garhwals show low
          temperatures of 38°C to 22°C*
      ►   Most of the thermal springs emerge through joints and or are controlled by the interfaces of the
          lithological units
      ►   Secondary deposits associated with the thermal manifestation comprise mainly thin carbonate
          encrustations/ layers
      ►   The chemistry of the thermal water indicates that a majority of the thermal discharges are
          either of Ca Mg HC03, or of Na HC03 type with exceptions are the Gangnani and Jamnotri*

      GEOLOGICAL MAP OF UTTARAKHAND SHOWING THE DISTRIBUTION
                          OF HOT SPRINGS

      Page 12                 26 September
                              2018
https://mnre.gov.in/sites/default/files/uploads/GeothermalResorcesofIndia.pdf
Uttarakhand –
     Key Credentials (2/2)
                                                    UTTARAKHAND SNAPSHOT

       GSDP Increased at                  Installed Power Capacity      FDI inflows (Apr - Dec   Operational PPP
       CAGR of 11.17%                     (MW) as of 2017-18            2017), stood at          projects ( 129 No)
       (2011-18*)                         3333.35**                     around US$ 652           (April 2018)***
                                                                        mn***

                                                   PROJECT SITE – TAPOBAN

                                                                                  TAPOBAN

       Chamoli District                                      Joshimath Tehsil            Uttarakhand State
                               30.557894                     Latitude   79.5592589           Longitude
      Page 13                 26 September
                              2018
*https://www.ibef.org/states/uttarakhand-presentation
**Central Electricity Authority, as of Feb 2018
***Department of industrial Policy & Promotion, Apr 2000-Dec 2017
Uttarakhand –
       Competitive Advantage
                                                     ADVANTAGE: UTTARAKHAND
       Uttarakhand is being                                                                         Under its ‘Ease of Doing
                                                       Renewable                 Ease of Doing      Business’ initiative, the State
       developed as an ‘energy                                                     Business
       state’ to tap the                             Energy Potential                               has implemented a web
       hydropower electric                                                                          based Single Window
       potential of over 25,000                                                                     Clearance System, allowing
                                                                                                    investors to avail the
       MW                                                                                           necessary State Government
                                                                                                    approvals
       The state has a stable                                                                       The state has abundant
       political environment with                     Stable Political            Favorable
                                                                                                    natural resources due to hills
       successive Governments                          Environment                Location &
                                                                                                    and forests and vast water
       that have been committed                                                   Abundant
                                                                                                    resources favouring
       towards creating a                                                         Resources
                                                                                                    Hydropower and Geothermal
       progressive business                                                                         Power Generation
       environment.

       The Industrial electricity                                                                   Uttarakhand is one of the
       tariff in Uttarakhand is                        Low Industrial               Evolving
                                                                                industrialisation   fastest growing states in
       one of the lowest across                        Electricity Tariff
                                                                                                    India. The state’s GSDP
       the States. The electricity                                                 facilitating
                                                                                     growth         increased at a compound
       supply is reliable.                                                                          annual growth rate of
                                                                                                    11.17% (2011-18*)

      Page 14                 26 September
                              2018
https://mnre.gov.in/sites/default/files/uploads/GeothermalResorcesofIndia.pdf
Project Information

                                                           PROJECT AT A GLANCE

        Project Name                                             Geothermal Power Plant

        Location                                                 Tapoban in Chamoli district, Uttrakhand

        Unit Capacity                                            Approx. 20 MW

        Focus Sector                                             Geothermal

        Project Timelines                                        8 years

        Highest temperature                                      65°C

        Discharge from Springs                                   Varies between 0.83-9.22 lit/sec*

        Elevation                                                1920 m*

        Thermal Efficiency Rate                                  10-23%

        Proposed Land Area                                       Tapoban, Chamoli district

                         TAPOBAN GEOTHERMAL AREA, DISTRICT CHAMOLI

      Page 15                 26 September
                              2018
*https://mnre.gov.in/sites/default/files/uploads/GeothermalResorcesofIndia.pdf
Project Information

                                                           PROJECT AT A GLANCE
      ►   There are a dozen of thermal springs clustered around four locations in Tapoban area
      ►   These are distributed in a linear pattern in a kilometre long section along the left flank of the
          Dhauli river
      ►   The rocks in the Tapoban area belong to the Central Crystalline
      ►   The area is traversed by two tear faults
      ►   The thermal springs of Tapoban area appear through Tapoban quartzite member
      ►   This quartzite and the underlying schist of Helang formation, in all probability, form the shallow
          reservoir in the area
      ►   The highest temperature recorded is 65°C
      ►   The discharge from these springs varies between 9.22-0.83 lit/sec
      ►   Secondary deposition around them is negligible
      ►   Only one spring has gaseous emanations
      ►   The gas sample collected comprises 78.6% CO2, 18.96%N2and 2.4%~
      ►   The geophysical surveys done in the area indicated comparatively low resistivity (100 ohm m)
          zone down to 165 m depth only, while the deeper horizons indicate very high resistivity (5500
          ohm m)
      ►   Encouraged by the high geothermal gradient ofO.16-0.58°C/m met with in the two 50 m holes
          drilled at Tapoban, exploratory drilling of deeper holes was launched in the area

          Geothermal Borehole at Tapoban with ArtesioN discharge of hot water (63oC) Under High Pressure (7 Kg/cm2)

      Page 16                 26 September
                              2018
*https://mnre.gov.in/sites/default/files/uploads/GeothermalResorcesofIndia.pdf
Project Information

     TENTATIVE OVERALL PROGRAM OF GEOTHERMAL DEVELOPMENT
                         IN TAPOBAN FIELD

                          Geothermal Investigation By NTPC/NGRI

                                                                                                    Phase I
                          Propose the following study program

                          Supplemental Surface Study
                          ►   Geology, Geochemistry, Geophysics
                          ►   Surface Study Integration, geothermal conceptual Model
                          ►   Selection of drilling targets of exploratory wells

                          Exploratory Well Study
                          ►   Exploratory Well Drilling
                          ►   Well geology and geochemistry
                          ►   Well logging
                          ►   Completion test
                          ►   Production test, injection test
                                                                                                    Phase II

                          Update Geothermal Conceptual Model

      Environmental Assessment

                          Feasibility Study
                          ►   Geothermal resource assessment and its characteristics
                          ►   Conceptual design and cost estimation of the project
                          ►   Implementation plan
                          ►   Environmental consideration
                          ►   Financial analysis etc.

                                                                            Selection of owner’s consultant
                                                                            and EPC Contractor
                          Detailed design of steam field development, power plant facilities
                          and transmission line
                                                                                                    Phase III
                          Well drilling, piping for FCRS (Fluid Collection and Reinjection
                          System), construction of power plant and transmission line

                          Operation and Maintenance of Geothermal Power Plant

   Page 17               26 September
                         2018
Uttarakhand Renewable Energy Development Agency
Infrastructure Availability

                                   Connectivity of Tapoban with the major towns

                                               ►   The following shows railway stations and their distance from Tapoban
                                                   ►    Rishikesh railway station - 115.8 KM
                        Rail
                                                   ►    Harrawala railway station - 117.6 KM
                                                   ►    Dehradun railway station - 119.3 KM
                                                   ►    Virbhadra railway station - 120.8 KM
                                                   ►    Doiwala railway station - 121.7 KM

                                               ►   Tapoban‘s nearest airport is Jolly Grant Airport situated at 116.5 KM
                                                   distance. Few more airports around Tapoban are as follows
                        Air
                                                   ►    Jolly Grant Airport - 116.5 KM
                                                   ►    Naini Saini Airport - 182.1 KM
                                                   ►    Sarsawa Air Base - 188.6 KM

                                               ►   It is approachable by an all weather 15 km long road from Joshimath, in
                        Road                       Chamoli district, Uttrakhand at an altitude of about 1800 m

      Page 18                 26 September
                              2018
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Policies, Schemes
      & Incentives (1/3)
                                                Central Government Incentives
       Project Types                                                            In-principle Subsidy
                               MNRE INDIAN GEOTHERMAL ENERGY DEVELOPMENT - DRAFT
                                                                                ►   Phase-I: 50% of Deep Drilling cost and in case
                                                                                    of failure it will be converted into grant subject
                                                                                    to development of site as direct use
       ►   R&D Projects (Power) (Demo)                                              geothermal heating/cooling. Phase-II: On
                                                                                    successfully completion of Phase-I, 30% CFA
                                                                                    (50% for PSUs/Govt. organizations) to first five
                                                                                    projects of size 3 to 5 MW

                                                                                ►   30% of Capital Cost (Maximum support of 9
       ►   Industrial Projects (Power)
                                                                                    Cr/MW) for 25 Cr. Per project

       ►   Public Good (Direct Heat Utilization)                                ►   30% - 50% of Capital Cost. Case to case basis

                                                                                ►   Subsidy of 30% of project cost in the form of
                                                                                    incentives with maximum support of INR
                                                                                    50,000 /TR for first 150 MWt capacity
       ►   Ground Source Heat Pump(GSHP’s) (Using
                                                                                    (Individual plant of more than 100 TR
           Close Loop)
                                                                                    capacity), INR 30,000/TR for next 200 MWt
                                                                                    and INR 10,000/TR for last 150 MWt target
                                                                                    capacity i.e 500 MWt.
                                                                                ►   Subsidy of 25% of project cost in the form of
                                                                                    incentives with maximum support to of INR
                                                                                    15,000 /TR for first 150 MWt capacity
       ►   Geo-exchange Cooling (Using Open Loop)
                                                                                    (Individual plant of more than 100 TR
                                                                                    capacity), INR 10,000/TR for next 200 MWt
                                                                                    and INR 5,000/TR for last 150 MWt target
                                                                                    capacity i.e. 500 MWt.

      Page 19                 26 September
                              2018
https://mnre.gov.in/sites/default/files/uploads/GeothermalResorcesofIndia.pdf
Key Contacts
   UTTARAKHAND RENEWABLE ENERGY DEVELOPMENT AGENCY
                       (UREDA)
 Address              Uttarakhand Renewable Energy Development Agency
                      Industrial Area, Patel Nagar, Dehradun, Uttarakhand
 Nodal Person         Name: A K Tyagi

                      Designation: Chief Project officer

 Website              http://ureda.uk.gov.in/

 Email ID             Dir.uredahq@gmail.com

 Phone                +91-135-2521387, 2521386

                     INVESTMENT FACILITATION CENTRE

 Address              Directorate of Industries
                      Industrial Area, Patel Nagar, Dehradun, Uttarakhand
 Website              www.investuttarakhand.com

 Email ID             ifc.uttarakhand@gmail.com

 Toll Free            18002701213

 Phone               +91-135- 2559898, 2559987

Disclaimer: This project profile is based on preliminary study to facilitate prospective
entrepreneurs to assess a prima facie scope. It is, however, advisable to get a detailed
feasibility study prepared before taking a final investment decision
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