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Power plant is normally designed for 25 years of life. During this period it is desired to run in its designed efficiency, produce cheapest power with minimum outage while running all Machineries at their design capacity. Power plants to run with permissible emission limits, i.e. to comply with local environmental norms. Considering the best maintenance practices,a power plant performs well in first 15-20 years, while its performance deteriorates as number of years of operation tends beyond 20 years. This is because of the plant machineries aging and several other factors. Power plant is as complicated as a human body. The power plant performance, i.e. efficiency, cost of power, outages etc. are linked to several factors which are inter related and need to have expert review. A conventional power plant audit finds out deficiencies of individual equipments and also suggests replacements of components tc. Sometimes audit finding advises for plant closeout because of beyond design life service. Conventional audit does not address how to reduce power production cost; it also does not explain how to increase power plant life, say by another 10 years with minimum capital investment.

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