Technoeconomic Analysis of Biodiesel Production by One-Pot Transesterification of a Blend of Non-Edible Oils
Authors: *Oniovosa, R.O., Oiwoh, O., Adetunji, I.A., Avanrenren, G.O., Ugbodu, F.U. And Egberanmwen, W.A.
DOI Info: http://doi.org/10.5281/zenodo.18061024
ABSTRACT
The growing demand for renewable and sustainable fuels has intensified research into biodiesel production from non-edible oils. This study evaluated the techno-economic feasibility of biodiesel production using a blend of oils (neem, castor, and waste vegetable oil). The aim was to assess the economic viability of this blend through Aspen Plus simulation. The methodology involved modeling the transesterification reaction using Aspen Plus, incorporating key variables such as methanol-to-oil ratio, reaction temperature, and flow rate using a heterogeneous catalyst. The simulation also integrated economic analysis parameters, including capital investment, operating costs, net present value (NPV), internal rate of return (IRR), and payback period. The results showed that the production process is economically feasible, with a total capital investment of ＄7,020,220 (₦10.6 billion), an annual operating cost of ＄1,793,070 (₦2.71 billion), and yearly revenue of ＄15,678,800 (₦23.7 billion). This yielded a net present value of ＄78,295,380 (₦118.18 billion) at a 10% interest rate, an internal rate of return of 28.2%, a payback period of approximately 0.51 years (~6 months), and a profit margin of 88.56%. These results confirm that biodiesel production from an oil blend offers both technical and economic viability, highlighting its potential as a sustainable alternative to fossil fuels and a strategic solution for energy diversification in Nigeria.
Affiliations: Department of Chemical Engineering, Faculty of Engineering, University of Benin, PMB 1154, Benin City, Nigeria.
Keywords: Biodiesel, Technoeconomic Analysis, Transesterification, Aspen Plus Simulation, Oil Blend
Published date: 2025/12/30
