Gas Turbine technology and cycle selection have a major impact on the economic performance of Combined Cycle Power Plants projects. The main objective of this paper is to investigate decision criteria and their relative importance in the selection of gas turbine technology and cycle configuration. Relevant factors influencing the choice of technology are investigated and their impacts on the economic performance of the Combined Cycle Power Plant are quantified. Sensitivities on relevant parameters are provided. Due to the fact that uncertainties and risks associated with the Combined Cycle Power Plants are major decision criteria, special focus has been placed on risk identification and quantification as well as recommendation for their mitigation. The conclusion of the investigation is that besides the overall accepted and commonly used criteria such as fuel efficiency and specific capital investment, there are other important contributors to the economic performance of a Combined Cycle Plant. The most important are operating and maintenance costs, availability factor, performance degradation and operating mode (utilization factor, load profile, start-up and shutdown frequency).

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