WorldWideScience

Sample records for energy project financing

  1. Financing wind energy projects

    International Nuclear Information System (INIS)

    Blom, P.

    1996-01-01

    Triodos Bank has more than 10 years of experience with developing and financing wind projects in the Netherlands. Over 50 Megawatt has been installed with direct involvement of the bank. The experience is both as a bank and as a venture capital fund. In this contribution the perspective will be more from a venture capital point of view than as a bank. The bank's activities in the wind energy sector started in 1986 by forming a joint venture with an engineering bureau, experienced i wind energy but not yet in developing wind projects. From 1989 onwards the joint venture started to build wind farms, both as a private company and in a joint venture with utilities. The European Investment Bank became involved with a long-term debt finance facility (15 years, fixed interest loan). The main difficulties were long-term commitments from landowners (Dike authorities) and utilities with regard to power contracts. The development got really stuck when utilities refused to pay a fair price anymore. Also, site development became more and more difficult. Even the poor technical performance improved drastically and did not frighten developers and banks too much. (author)

  2. Financing energy projects in Africa

    International Nuclear Information System (INIS)

    Godier, Kevin; Marks, Jon

    1999-12-01

    Contains Executive Summary and Chapters on: Overview of financing trends in Africa; Multilateral support - Bedrock of Africa's first generation energy projects; ECA insurance and financing; Bilateral development finance; Offshore commercial bank lending; Local commercial bank finance; Capital markets; Legal ramifications ; Risk factors; Conclusions. (Author)

  3. Financing of Renewable Energy Projects

    International Nuclear Information System (INIS)

    Santizo, Rodolfo; Berganza, Jose

    2000-01-01

    The paper describes the role of the Banco Centroamericano de Integracion Economica in financing renewable energy projects in Central America. Also decribes the different financing modes to the goverment and private sectors

  4. Project financing renewable energy schemes

    International Nuclear Information System (INIS)

    Brandler, A.

    1993-01-01

    The viability of many Renewable Energy projects is critically dependent upon the ability of these projects to secure the necessary financing on acceptable terms. The principal objective of the study was to provide an overview to project developers of project financing techniques and the conditions under which project finance for Renewable Energy schemes could be raised, focussing on the potential sources of finance, the typical project financing structures that could be utilised for Renewable Energy schemes and the risk/return and security requirements of lenders, investors and other potential sources of financing. A second objective is to describe the appropriate strategy and tactics for developers to adopt in approaching the financing markets for such projects. (author)

  5. Project finance for alternative energy

    International Nuclear Information System (INIS)

    Mills, S.J.

    1993-01-01

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It will set out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximise their prospects of raising bank finance. (author)

  6. Financing of wind energy projects

    International Nuclear Information System (INIS)

    Harland, S.

    1991-01-01

    This paper looks at what banks need to know to enable them to consider a wind energy project. The major experiences of banks in financing wind energy have been in the US where governmentally inspired long term sales contracts (PURPA Contracts) have given a security to sponsors and banks not available elsewhere. (Author)

  7. Project finance for renewable energy

    International Nuclear Information System (INIS)

    Mills, S.J.; Taylor, M.

    1994-01-01

    This paper is intended to provide general advice to sponsors of renewable energy projects who expect to raise project-based financing from commercial banks to fund the development of their projects. It sets out, for the benefit of such sponsors, how bankers typically approach the analysis of these undertakings and in particular the risk areas on which they concentrate. By doing so it should assist sponsors to maximize their prospects of raising bank finance. The watchword for sponsors approaching banks must be ''Be Prepared'' . (author)

  8. Analysis of Project Finance | Energy Analysis | NREL

    Science.gov (United States)

    Analysis of Project Finance Analysis of Project Finance NREL analysis helps potential renewable energy developers and investors gain insights into the complex world of project finance. Renewable energy project finance is complex, requiring knowledge of federal tax credits, state-level incentives, renewable

  9. Derivatives in energy project finance

    International Nuclear Information System (INIS)

    Spencer, Lloyd

    1999-01-01

    This chapter focuses on risk management of merchant power generation projects and describes project finance as balancing risk and reward over time. The historical background to risk management is traced, and the case for derivatives in energy project finance is put forward with the hedging of forward output, and forwards and power purchase agreements discussed. Current and prospective usage, and the implementation issues of market liquidity, margin calls, letters of credit, derivative counterparty credit risk, and accounting policy are considered. A detailed example of a gas-fired plant in the US is presented with details given of the distribution of project earnings before tax. Oil field operating cashflows are examined, with reserved flow models, leverage effects, and price hedging addressed

  10. Project finance and international energy development

    International Nuclear Information System (INIS)

    Pollio, G.

    1998-01-01

    This paper explores the preference for and the features unique to project finance, one of the favoured vehicles for funding energy development. Our main focus is on the interests of project sponsors, commercial banks and host governments. Inclusion of the latter reflects the fact host governments are often leading participants in primary energy and energy-related projects; more recently, they have come to use limited recourse structures to finance local infrastructure development. Traditional analyses, whilst providing useful insights into the interests of leading project participants, are incapable of isolation a single motive or set of motives that can comprehensively account for all of the features common to this form of debt. Within an options-theoretic framework, most of these ambiguities are resolved. Risk management, long recognised as one of the primary reasons for choosing project finance over rival debt structures, is affirmed as a key explanatory factor. One the other hand, options pricing theory provides a radically different perspective on how to project finance contributes to the realisation of these objectives. (author)

  11. Financing green energy projects in Malaysia

    International Nuclear Information System (INIS)

    Eddynor Manshor; Yvonne Lunsong; Norhayati Kamaruddin

    2000-01-01

    Kyoto Protocol is the first global commitment to reduce greenhouse gas (GHG) emissions. Malaysia, which signed the Protocol on 12 March 1999, must also take steps to address the climate change concerns. The use of renewable energy sources is seen as a feasible way to address the issue. Despite their environment-friendliness, these sources of energy are grossly under-utilised even though Malaysia is amply endowed with renewable energies, particularly biomass and solar. As a unique domestic resource, recurring energy savings from energy efficiency could also qualify as renewable energy. At present, the contribution of renewable energy in the country's energy mix is very small compared to its large potential. The Malaysian Government recognizes the potential of this form of energy. As part of its fuel diversification policy, the government plans to expand the four-fuel strategy to include renewable energy as the fifth fuel. Due to all year constant sunshine and vast oil palm cultivation, both solar and palm oil residues are identified as the most promising green energy option. Efforts are underway to embark on programs to demonstrate and evaluate the viability of these emerging green technologies. A few organizations are given grants to undertake pre-feasibility studies of pre-commercialization demonstration projects. When approved, viable projects could also qualify for technical and financial assistance from foreign partners. However, grants are limited and under World Trade Organization rules such subsidies should not exceed 30 percent in most cases. Commercialization of green energy projects must therefore involve full participation of private developers and financial institutions. Yet, virtually no attempt is made to promote financing of such projects in Malaysia. In most cases, financial institutions are not aware of the economic potential of these unique and under exploited sources. This paper will discuss problems in financing green energy projects and then

  12. Financing small scale wind energy projects in the UK

    International Nuclear Information System (INIS)

    Mitchell, Catherine

    1993-01-01

    This paper shows how wind energy projects in the UK have obtained finance. It attempts to list the financing options open to small scale developments and to note any likely problems which may occur. (UK)

  13. Financing energy projects: experience of the International Finance Corporation

    International Nuclear Information System (INIS)

    Bond, Gary; Carter, Laurence

    1995-01-01

    This paper provides an overview of the recent trend towards private ownership and financing of power projects in the developing countries, focusing on the role played by both private and public agencies in meeting the large financing challenges. The paper draws upon the operational experience of the International Finance Corporation, which has been involved in the financing of more than 30 private power projects in the developing countries over the past three decades. Among the issues that affect implementation of private power projects is the balancing of risk and reward to equity investors and to commercial lenders. The paper discusses the principal sources of risk and the strategies used to manage them. A related issue is the competition for capital on the international markets, and the techniques that are being devised to bring more finance to the power sector. Finally, the paper considers the role of government in bringing private investors to the power sector, and the approaches being adopted to balance the needs of investors with the needs of the public. (author)

  14. Exploring the private finance initiative as a route to finance for renewable energy projects

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2000-07-01

    This report reviews the private financing of public sector Renewable Energy projects through the Private Finance Initiative (PFI), and the relevance of such a technique to the renewables industry generally. (author)

  15. Financing Renewable Energy Projects in Developing Countries: A Critical Review

    Science.gov (United States)

    Donastorg, A.; Renukappa, S.; Suresh, S.

    2017-08-01

    Access to clean and stable energy, meeting sustainable development goals, the fossil fuel dependency and depletion are some of the reasons that have impacted developing countries to transform the business as usual economy to a more sustainable economy. However, access and availability of finance is a major challenge for many developing countries. Financing renewable energy projects require access to significant resources, by multiple parties, at varying points in the project life cycles. This research aims to investigate sources and new trends in financing RE projects in developing countries. For this purpose, a detail and in-depth literature review have been conducted to explore the sources and trends of current RE financial investment and projects, to understand the gaps and limitations. This paper concludes that there are various internal and external sources of finance available for RE projects in developing countries.

  16. Strategies for financing energy projects in East Central Europe

    Energy Technology Data Exchange (ETDEWEB)

    Fortino, S.E. [Texaco Inc., White Plains, NY (United States)

    1995-12-01

    This paper discusses financing options available for energy (power/steam) projects in East Central Europe. It is intended to be an overview and practical guide to such options in today`s environment. A survey is made of the principal multilateral and other financial institutions providing funding and/or credit support in the region. These include the European Bank for Reconstruction and Development, the World Bank, the International Finance Corporation, the export credit agencies, and the commercial banks. Specific guarantee and other support mechanisms which some of these institutions provide are covered, including the latest developments. In addition to loan financing, potential sources of equity financing are discussed. Next, a description of the credit rating process by such institutions as Standard and Poor`s, and an example of a successful rating effort in the Czech Republic, lead into a discussion of accessing foreign and domestic bond markets to finance energy projects in the region.

  17. Financing the development of renewable energy projects of territorial interest

    International Nuclear Information System (INIS)

    Regnier, Yannick; Bailleul, Esther; Claustre, Raphael; Bessiere, Patrick; Boumard, Erwan; Peulemeulle, Justine; Causse, Laurent; Coton, Patrice; Djemouai, Nadia; Dubus, Jean-Michel; Duffes, Thomas; Gauduchon, Marie-Veronique; Raguet, Alex; Ghewy, Etienne; Heitz, Philippe; Jedliczka, Marc; Jourdain, Pierre; Julien, Emmanuel; Marcenac, Guillaume; Marillier, Frederic; Massias, Louis; Picot, Roland; Poize, Noemie; Quantin, Jacques; Rabian, Jean; Rocaboy, Dominique; Rumolino, Claudio; Sabin, Patrick; Saultier, Patrick; Tincelin-Salomon, Claire; Trillaud, Nicolas; Vachette, Philippe; Verhaeghe, Laure

    2016-11-01

    This report highlights the relationship between a territorial project (its autonomous strategy) and projects of renewable energy which could and should be developed. It focuses on large projects of electric power production, notably those based on solar and wind energy for which such a territorial anchoring is not as obvious as for the production of heat or gas (heat networks are necessarily local, and biomass production and supply as well). Thus, its outlines how these projects can be a benefit for a territory, the stakes of participation for the different local actors, and discusses how such a participation is to be organised. It describes different aspects of the way a project development phase is to be financed: stakes (financing needs, risks, peculiarities of local financing, project management and governance), financing typologies, development ease and safety, support of development financing (capital-risk tools, intervention of local public companies, advance payments, subsidies). The last part addresses how to locally finance the other project phases (stakes during construction and exploitation, intervention modes by participation, financial tools or loans)

  18. 'Show me the money': energy projects financing

    International Nuclear Information System (INIS)

    Ball, C.

    2006-01-01

    This paper describes the business and business model of Corpfinance International (CFI). CFI consists of three businesses: structured financing, private equity/corporate finance advisory and securitization. Furthermore, CFI is the lender of record acting on behalf of and based on strong relationship with various Life Insurance Companies, Pension Funds and International Banks. CFI has in-house expertise in support of its lending advisory and investing activities

  19. Project financing

    International Nuclear Information System (INIS)

    Cowan, A.

    1998-01-01

    Project financing was defined ('where a lender to a specific project has recourse only to the cash flow and assets of that project for repayment and security respectively') and its attributes were described. Project financing was said to be particularly well suited to power, pipeline, mining, telecommunications, petro-chemicals, road construction, and oil and gas projects, i.e. large infrastructure projects that are difficult to fund on-balance sheet, where the risk profile of a project does not fit the corporation's risk appetite, or where higher leverage is required. Sources of project financing were identified. The need to analyze and mitigate risks, and being aware that lenders always take a conservative view and gravitate towards the lowest common denominator, were considered the key to success in obtaining project financing funds. TransAlta Corporation's project financing experiences were used to illustrate the potential of this source of financing

  20. Project financing

    International Nuclear Information System (INIS)

    Alvarez, M.U.

    1990-01-01

    This paper presents the basic concepts and components of the project financing of large industrial facilities. Diagrams of a simple partnership structure and a simple leveraged lease structure are included. Finally, a Hypothetical Project is described with basic issues identified for discussion purposes. The topics of the paper include non-recourse financing, principal advantages and objectives, disadvantages, project financing participants and agreements, feasibility studies, organization of the project company, principal agreements in a project financing, insurance, and an examination of a hypothetical project

  1. Directory of financing sources for foreign energy projects

    Energy Technology Data Exchange (ETDEWEB)

    La Ferla, L. [La Ferla Associates, Washington, DC (United States)

    1995-09-01

    The Office of National Security Policy has produced this Directory of Financing Sources for Foreign Energy Projects. The Directory reviews programs that offer financing from US government agencies, multilateral organizations, public, private, and quasi-private investment funds, and local commercial and state development banks. The main US government agencies covered are the US Agency for International Development (USAID), the Export-Import Bank of the US (EXIM Bank), Overseas Private Investment Corporation (OPIC), US Department of Energy, US Department of Defense, and the US Trade and Development Agency (TDA). Other US Government Sources includes market funds that have been in part capitalized using US government agency funds. Multilateral organizations include the World Bank, International Finance Corporation (IFC), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), and various organizations of the United Nations. The Directory lists available public, private, and quasi-private sources of financing in key emerging markets in the Newly Independent States and other developing countries of strategic interest to the US Department of Energy. The sources of financing listed in this directory should be considered indicative rather than inclusive of all potential sources of financing. Initial focus is on the Russian Federation, Ukraine, india, China, and Pakistan. Separate self-contained sections have been developed for each of the countries to enable the user to readily access market-specific information and to support country-specific Departmental initiatives. For each country, the directory is organized to follow the project life cycle--from prefeasibility, feasibility, project finance, cofinancing, and trade finance, through to technical assistance and training. Programs on investment and export insurance are excluded.

  2. Real world financing opportunities for energy conservation projects

    Energy Technology Data Exchange (ETDEWEB)

    Tramonte, D.J.

    1988-01-01

    Do you have the resources, dollars, people expertise and general know-how to do all the energy conservation measures. If you have the funds, do it yourself. Historically you would save more if you hired a private concern because that is the only job the contractor does for you. You have other hats to wear and fires to put out. Using third-party financing can be a good decision based on your specific needs. Procrastination is not the answer - the cost of delay is extensive. Financing energy conservation measures is no different from financing your automobile or home. If the benefits outweigh the negatives, the answer is obvious. Remember, in any case of using private sector financing, your are joining a partnership arrangement. The only way to succeed is to be honest with each other on the front end. There need not be any surprises. Any reputable company will gladly have your attorney evaluate all agreements, amortization schedules, and attachments. Real world financing alternatives will continue to change as the market matures. It's not too good to be true. It is no more than a vehicle to make the efforts of capital improvements streamlined. The money or financing is the catalyst to the project and makes the other areas meld.

  3. Project Finance and Projects in the Energy Sector in Developing Countries

    OpenAIRE

    ERMELA KRIPA; HALIT XHAFA

    2013-01-01

    The purpose of this study is to show the importance of using project finance in infrastructure investments in developing countries. The paper will be focused only on one infrastructure sector, which is energy. Structurally, power project finance has involved largely buildown-transfer (BOT) project structures and long-term contracts. The projects largely reflect a rational allocation of risks among public and private participants. Private sponsors and lenders generally assume risks for complet...

  4. Renewable Energy Project Financing: Impacts of the Financial Crisis and Federal Legislation

    Energy Technology Data Exchange (ETDEWEB)

    Schwabe, P.; Cory, K.; Newcomb, J.

    2009-07-01

    Extraordinary financial market conditions have disrupted the flows of equity and debt investment into U.S. renewable energy (RE) projects since the fourth quarter of 2008. The pace and structure of renewable energy project finance has been reshaped by a combination of forces, including the financial crisis, global economic recession, and major changes in federal legislation affecting renewable energy finance. This report explores the impacts of these key market events on renewable energy project financing and development.

  5. Project Financing

    OpenAIRE

    S. GATTI

    2005-01-01

    Στην εισαγωγή της παρούσας εργασίας δίνεται ο ορισμός του project financing, τα ιστορικά στοιχεία και οι τάσεις αγοράς του. Στο πρώτο κεφάλαιο αναφέρεται γιατί οι εταιρείες προτιμούν την χρηματοδότηση με project financing. Γίνεται λόγος για τα πλεονεκτήματά του έναντι της άμεσης χρηματοδότησης, καθώς και για τα μειονεκτήματα του project financing. Στο δεύτερο κεφάλαιο παρουσιάζονται τα χρηματοοικονομικά στοιχεία και ο ρόλος του χρηματοοικονομικού συμβούλου. Στην τρίτη ενότητα γίνεται η αναγνώ...

  6. Financing of energy-efficient productive industrial projects. Situation and first ideas for the future. Synthesis

    International Nuclear Information System (INIS)

    Billard, Yannael; Julien, Emmanuel; Blaisonneau, Laurent; Streiff, Frederic; Padilla, Sylvie; Benazzi, Eric; Domergue, Bruno; Fraysse, Sebastien; Gaussens, Jean-Pierre; Packeu, Paris; Bodino, Didier; Randimbivololona, Prisca; Verbbrughe, Gregory; Bissonnier, Alain; Dantec, Caroline

    2016-11-01

    Based on in-depth interviews with decision makers and experts belonging to energy consuming industrial groups, or involved in technological offer or in financing, this study addressed the issue of energy efficiency in the industrial sector, and of its financing. Interviewed persons represented 11 large companies, 5 medium-sized companies, and 14 industrial sectors, and 3 main professional profiles (from technical to financial). The authors thus explored current financing models implemented to finance energy efficiency, by analysing existing decision-making processes, brakes on energy efficiency in industry, levers favourable to energy efficiency in industry, operational and functional organisations addressing issues related to energy efficiency, the risk management policy implemented for the assessment and follow-up of investments in energy efficiency, and existing and envisaged financial packages to make these investments possible. As far as financing is concerned, the authors analyse present practices, difficulties faced, good and repeatable practices, and discuss some lines of thought to mobilise actors in order to structure and promote energy efficiency in industrial projects, to reduce the risk for an easier financing of such projects, to structure financing tools, to promote incentive taxes and aids

  7. Mobilizing Public Markets to Finance Renewable Energy Projects: Insights from Expert Stakeholders

    Energy Technology Data Exchange (ETDEWEB)

    Schwabe, P.; Mendelsohn, M.; Mormann, F.; Arent, D. J.

    2012-06-01

    Financing renewable energy projects in the United States can be a complex process. Most equity investment in new renewable power production facilities is supported by tax credits and accelerated depreciation benefits, and is constrained by the pool of potential investors that can fully use these tax benefits and are willing to engage in complex financial structures. For debt financing, non-government lending has largely been provided by foreign banks that may be under future lending constraints due to economic and regulatory conditions. To discuss renewable energy financing challenges and to identify new sources of capital to the U.S. market, two roundtable discussions were held with renewable energy and financing experts in April 2012. This report summarizes the key messages of those discussions and is designed to provide insights to the U.S. market and inform the international conversation on renewable energy financing innovations.

  8. Financing U.S. Renewable Energy Projects Through Public Capital Vehicles: Qualitative and Quantitative Benefits

    Energy Technology Data Exchange (ETDEWEB)

    Mendelsohn, M.; Feldman, D.

    2013-04-01

    This paper explores the possibility of financing renewable energy projects through raising capital in the public markets. It gives an overview of the size, structure, and benefits of public capital markets, as well as showing how renewable energy projects might take advantage of this source of new funds to lower the cost of electricity.

  9. Some successful financing mechanisms for energy efficiency projects (EE) and projects using renewable energy sources (RES) - the experience of Bulgaria

    International Nuclear Information System (INIS)

    Uzunova, Boriana

    2004-01-01

    The paper analysis some of the most promising financial mechanisms for energy efficiency (EE) and renewable energy sources (RES) projects in Bulgaria - the TPF mechanism, the KIDS Fund, delivered by the EBRD fund the EE fund of the WB, established on the floor of the EE act, as well as a number of some of the pre accession and European energy programs used for financing this area. All data its rich intensive international and in -home work in the are of energy efficiency and renewable energy sources. (Author)

  10. Project Finance: Basic Components

    OpenAIRE

    Alfieri Li Ojeda, Jaime

    2015-01-01

    The natural speed of the contemporary world demands large investment projects which require specialized financial techniques such as Project Finance, defined as a fund to finance investment projects of great magnitude. Every Project Finance involves a wide range of elements such as promoters, government, contractors andsuppliers, among others, that will ensure project success. La rapidez del mundo contemporáneo exige que los grandes proyectos de inversión requieran de técnicas financieras ...

  11. Clean air and project financing

    International Nuclear Information System (INIS)

    Zimmer, M.J.

    1992-01-01

    This article examines how environmental requirements are challenging the developers ability to secure financing for independent energy projects. The topics addressed in the article include a review of the US Environmental Protection Agency auction rules for acid rain emission allowances, short term and long term market demand, project financing issues, credit value and matching interests

  12. Financing energy projects at the European Bank for reconstruction

    International Nuclear Information System (INIS)

    Unterwurzacher, E.

    1992-01-01

    Investments in the energy sectors of Central and Eastern European countries and in the republics of the former USSR have a pivotal role to play in the economic and political restructuring of the centrally planned economies. The amount of capital required for energy sector investments in the countries of operation clearly exceed the financial possibilities of economies in transition, but they are necessary to underpin economic reform. Moreover they contribute to sector development, help alleviate energy shortages, increase energy securities, realize increased foreign exchange earnings and can reduce the environmental impact of energy production and use. Energy supply of several countries of operation is highly dependent on coal. In general throughout the region, coal is produced and used in a way which pays less attention to the potential negative environmental consequences. Current mining practice often leads to groundwater contamination, power plants are only poorly equipped with abatement technologies, the quality of the coal is often poor, or the efficiency of coal conversion is low, which is primarily a result of the use of outdated technology. Bank operations try to address these issues and to combine in its activities improved economic efficiency of the energy sector with the amelioration of environmental conditions. This paper briefly summarizes the main features of the energy sector of countries of operation and highlights the significant role of the coal industry with regard to energy sector and the environment. The Bank's energy sector strategy is introduced and the instruments that the Bank has chosen for its financial operations are presented. Examples for operations in the energy sector as they are relevant for the coal industries are introduced

  13. What is project finance?

    OpenAIRE

    João M. Pinto

    2017-01-01

    Project finance is the process of financing a specific economic unit that the sponsors create, in which creditors share much of the venture’s business risk and funding is obtained strictly for the project itself. Project finance creates value by reducing the costs of funding, maintaining the sponsors financial flexibility, increasing the leverage ratios, avoiding contamination risk, reducing corporate taxes, improving risk management, and reducing the costs associated with market ...

  14. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    1994-01-01

    The Institut of Energy Saving and Diversification (IDAE) hosted the third party on financing Renewable Energy Sources in Spain. The main aspects were : 1) Experiences in renewable energy. 2) Financing of small hydro-power projects. 3) Third party financing of biomass projects. 4) Financing of wind energy projects

  15. Third party financing of renewable energy sources

    International Nuclear Information System (INIS)

    IDAE.

    1994-01-01

    IDAE (Institute of Energy Saving and Diversification) Hosted the Third party on financing renewable energy sources. The meeting was articulated into chapters: 1.- Experiences in the renewable energy field. 2.- Third party financing of small hydro-power projects. 3.- Third party financing of biomass projects. 4.- Third party financing of wind energy projects

  16. Financing wind projects

    International Nuclear Information System (INIS)

    Manson, J.

    2006-01-01

    This presentation reviewed some of the partnership opportunities available from GE Energy. GE Energy's ecomagination commitment has promised to double research investment, make customers true partners and reduce greenhouse gases (GHGs). GE Energy's renewable energy team provides a broad range of financial products, and has recently funded 30 wind farms and 2 large solar projects. The company has a diverse portfolio of technology providers and wind regimes, and is increasing their investment in technology. GE Energy recognizes that the wind industry is growing rapidly and has received increased regulatory support that is backed by strong policy and public support. It is expected that Canada will have 3006 wind projects either planned or under construction by 2007. According to GE Energy, successful wind financing is dependent on the location of the site and its wind resources, as well as on the wind developer's power sales agreement. The success of a wind project is also determined by clear financing goals. Site-specific data is needed to determine the quality of wind resource, and off-site data can also be used to provide validation. Proximity to load centres will help to minimize capital costs. Power sales agreements should be based on the project's realistic net capacity factor as well as on the cost of the turbines. The economics of many wind farms is driven by the size of the turbines used. Public consultations are also needed to ensure the success of wind power projects. It was concluded that a good partner will have staying power in the wind power industry, and will understand the time-lines and needs that are peculiar to wind energy developers. refs., tabs., figs

  17. Comparison of selected approaches to finance renewable energy projects in European countries

    International Nuclear Information System (INIS)

    Langniss, O.

    1999-01-01

    A large number of proven technical solutions exists for the use of renewable energies. However, their dissemination is still too slow to meet the political goal of substituting for 8-15% of the primary energy demand in the European Union by the year 2010. Even renewable energy systems (RES) with an economic potential are only partly exploited. The FIRE research project financed partly in the JOULE program analyses and compares the means of financing RES in Austria, Denmark, Germany, the Netherlands, Spain, Sweden and the United Kingdom to put forward best practice recommendations so that renewable energy depolyments will occur at a faster rate. FIRE addresses to politicians, to potential investors and to project-developers. (orig./RHM)

  18. International energy financing

    International Nuclear Information System (INIS)

    Vedavalli, Rangaswamy

    1994-01-01

    Some of the innovative financing options being considered by developing countries and economies in transition as ways of mobilizing international energy financing are discussed. Build-Own-Operate (BOO) and Transfer (BOOT) is the most commonly adopted approach. This involves limited resource financing of a project on the basis of the associated cash flow and risks and not on the credit of the project owners. The World Bank has set up the Multilateral Investment Guarantee Agency to provide, on a fee basis, guarantees against certain non-commercial forms of risk in order to promote international capital flow to developing countries. In 1989, the World Bank introduced the Expanded Co-financing Operations (ECO) programme as an instrument to catalyze the flow of private finance into developing countries and to improve their access to international financial markets. Other financial instruments currently being established include: leasing of equipment or whole plants by foreign investors; private ownership or operation of generation and distribution facilities; exchange of specific export goods for energy imports; developing instruments to finance local costs; revenue bonds; tax-exempt bonds; sale of electricity futures to those seeking more stable, longer term electricity price contracts. (UK)

  19. Financing landfill gas projects

    International Nuclear Information System (INIS)

    Bull, R.

    1992-01-01

    The problems of financing landfill gas projects in the UK in the last few years are discussed. The approach of the author in setting up a company to finance such projects in the power generation field and a separate company to design and supply turnkey packages is reported. (UK)

  20. Financing Energy Services for Small-scale Energy-users - project FINESSE

    International Nuclear Information System (INIS)

    Annan, R.; Saunders, R.J.; Hassing, P.

    1994-01-01

    This paper presents the FINESSE (Financing Energy Services for Small-scale Energy users) launched in 1989 by World Bank 's Energy Sector Assistance Program (ESMAP) in association with the US Department of Energy and the Netherlands Ministry for Development Cooperation, whose purpose is to address financial, institutional and policy issues related to enhancing energy services for residential and commercial energy consumers in the Developing World. It describes the related technology benefits of renewable energy and energy efficiency, as well as a technology overview and outlines the strategies for financing alternatives in the Developing World. It concludes with a description of successful experiences in small-scale energy services, especially in Asia. (TEC). 8 figs

  1. A MCDM approach for project finance selection: An application in the renewable energy sector

    Directory of Open Access Journals (Sweden)

    García-Bernabeu, Ana

    2015-05-01

    Full Text Available Renewable energy (RE is emerging as a solution in order to replace fossil fuels and become the primary source of energy consumption. Investments in the RE sector involve huge amounts of capital but also many risks. Public sector plays an important role in promoting RE projects but due to the need for reducing public expenditure the private sector becomes essential in financing this type of projects. Project Finance is widely used in RE projects and is especially attractive to the private sector because it can fund major projects off balance sheet. The objective of this paper is to present a decision making tool for helping the private sector on the selection process of RE projects to be funded. The problem could be considered as a multiple criteria decision-making problem where both, financial and non-financial criteria have to be taken into account. Objective aggregation weights for those criteria are obtained using the Moderate Pessimism Decision Making approach and a final ranking of the projects is obtained.

  2. INVESTMENT FINANCING THROUGH THE "PROJECT FINANCE"

    OpenAIRE

    Molina Arenaza, Hércules; Del Carpio Gallegos, Javier

    2014-01-01

    This article analizes and compares the various aspects related to the "Project Finance" technique using projects financing in the Capital Market, both in developed countries and in developing countries. Likewise, the application's technique is illustrated by Antamina mining enterprise. El artículo analiza y compara los diferentes aspectos relacionados con la técnica del Project finance usado en el financiamiento de proyectos en el mercado de capitales, tanto en los países desarrollados com...

  3. Energy storage financing :

    Energy Technology Data Exchange (ETDEWEB)

    Baxter, Richard

    2016-08-01

    Project financing is emerging as the linchpin for the future health, direction, and momentum of the energy storage industry. Market leaders have so far relied on selffunding or captive lending arrangements to fund projects. New lenders are proceeding hesitantly as they lack a full understanding of the technology, business, and credit risks involved in this rapidly changing market. The U.S. Department of Energy is poised to play a critical role in expanding access to capital by reducing the barriers to entry for new lenders, and providing trusted analytical benchmarks to better judge and price the risk in systematic ways.

  4. Renewable energy finance and project ownership. The impact of alternative development structures on the cost of wind power

    International Nuclear Information System (INIS)

    Wiser, R.H.

    1997-01-01

    This paper uses traditional financial cash flow techniques to examine the impact of different ownership and financing structures on the cost of renewable energy, specifically wind power. Most large, non-hydroelectric, renewable energy projects are developed, owned and financed by private non-utility generators. Recently, however, US utilities have begun to consider owning and financing their own wind power facilities rather than purchasing power from independent renewable energy suppliers. Utilities in other countries have also expressed interest in direct renewable energy investments. A primary justification for utility ownership of wind turbine power plants is that utility self-financing and ownership is cheaper than purchasing wind energy from non-utility renewable energy suppliers. The results presented in this paper support that justification, although some of the estimated cost savings associated with utility ownership are a result of suboptimal utility analysis procedures and implicit risk shifting. Financing terms and variables are shown to significantly impact wind power costs. (author)

  5. Renewable Energy Project Financing: Improved Guidance and Information Sharing Needed for DOD Project-Level Officials

    Science.gov (United States)

    2012-04-01

    certain energy related military construction projects. The Navy used this authority for its geothermal plant at Naval Air Weapons Station China Lake...electric energy generated from solar, wind, biomass, landfill gas, ocean (including tidal, wave, current, and thermal), geothermal , municipal solid...thermal; geothermal , including electricity and heat pumps; municipal solid waste; new hydroelectric generation capacity achieved from increased

  6. Commercial agreements and documentation relevant for project financing renewable energy schemes

    International Nuclear Information System (INIS)

    1997-01-01

    Renewable energy projects covered by the NFFO Orders are distinguished by the fact that the key contract in any project is in effect a standard form contract in the form of the Power Purchase Agreement with the Non-Fossil Purchasing Agency Limited (''NFPA''). However our research has indicated that general contract standardization is unlikely to be practicable in the short term, although it is thought that the production of a range of specimen documents in the context of this study with input from various representative industry associations could lead to a more consistent approach to the negotiation and structuring of projects and facilitate the presentation of projects at the funding stage. We have produced a suite of documents which are specimens of the sorts of agreements that lenders are likely to find acceptable. The range of documents which we have produced covers the principal contractual arrangements for a typical renewable energy project (including full text or abridged agreements), for a land lease and for agreements for design and build, operation and maintenance, waste supply, wind lease, landfill gas, and forestry residue supply. We have produced an insurance scope of cover and financing documentation including a due diligence check list, term sheet, and a facility agreement with related security documentation. (author)

  7. Financing alternative energy projects: An examination of challenges and opportunities for local government

    International Nuclear Information System (INIS)

    Cheung, Grace; Davies, Peter J.; Trück, Stefan

    2016-01-01

    Local government in Australia has a strong collective capacity to reduce GHG emissions through policies, funding allocation to renewable energy projects and the delivery of programs and services. This study examines the institutional capacity of councils in Sydney and how this impacts on decisions to invest in alternative energy projects. We find greenhouse gas emission targets of councils are strongly aligned to national targets but do not reflect the local council's institutional capacity, political leadership or strategic priorities. Energy reduction projects are often identified and undertaken by environmental staff without support from financial staff or financial-evaluation tools. An absence of national guidelines to provide consistency in tracking and reporting limits cross-sector benchmarking. Street lighting contributes to a significant proportion of council's total electricity expenditure and GHG emission profile. Being highly regulated, existing contracts and the current practice of street lighting services limits the councils’ ability to reduce emissions. Based on our analysis we recommend a number of measures to overcome these constraints including the use of financial evaluation tools for small-scale renewable energy projects, a standardised national tracking and reporting platform to facilitate progress-reporting and meaningful comparative analysis between councils and policy reform to the regulation of street lighting. - Highlights: • Australian local government sector can influence up to 50% of GHG emissions. • Institutional capacity, finance, leadership and staff, influence GHG performance. • Monitoring GHG emissions is limited by a lack of national guidelines or protocols. • Environmental officers lack tools and support to assess GHG reduction projects. • Reducing GHG emissions from street lighting is a contested legal and policy area.

  8. Introduction to biomass energy project financing, funding sources and government strategies

    Energy Technology Data Exchange (ETDEWEB)

    Nordlinger, D E [Skadden, Arps, Slate, Meagher and Flom, London (United Kingdom); Shaw, F C [Skadden, Arps, Slate, Meagher and Flom, Washington, D.C. (United States)

    1995-12-01

    Biomass projects can help developing countries to protect their environment as well as to build a modem infrastructure. However, such projects present, in addition to the more typical risks associated with fossil-fuel projects, certain risks relating to the unique technologies and fuels used in such projects. Further, their location in developing countries regularly creates enhanced political and credit risk as well. Biomass power projects, like any other power project, must be financed. To be financeable, a power project should allocate risk in the most efficient way, so as to maximize return on investment. This paper examines the way in which various project documents can be structured to allocate most efficiently the technology and fuel risks unique to biomass projects, as well as the more typical risks, such as construction risk, permitting risk, expropriation risk, currency risk, country risk, sovereign risks, operating risks and credit risk. In addition, this paper summarizes the public financing sources and support that are available to assist in meeting the unique risk profiles of biomass projects. Specifically, it examines some of the principal multilateral and export credit agencies having involvement in this area. Finally, it examines potential strategies available to the developer of a biomass project for soliciting the involvement of, and negotiating with, local governments and public financing agencies. (author)

  9. Introduction to biomass energy project financing, funding sources and government strategies

    International Nuclear Information System (INIS)

    Nordlinger, D.E.; Shaw, F.C.

    1995-01-01

    Biomass projects can help developing countries to protect their environment as well as to build a modem infrastructure. However, such projects present, in addition to the more typical risks associated with fossil-fuel projects, certain risks relating to the unique technologies and fuels used in such projects. Further, their location in developing countries regularly creates enhanced political and credit risk as well. Biomass power projects, like any other power project, must be financed. To be financeable, a power project should allocate risk in the most efficient way, so as to maximize return on investment. This paper examines the way in which various project documents can be structured to allocate most efficiently the technology and fuel risks unique to biomass projects, as well as the more typical risks, such as construction risk, permitting risk, expropriation risk, currency risk, country risk, sovereign risks, operating risks and credit risk. In addition, this paper summarizes the public financing sources and support that are available to assist in meeting the unique risk profiles of biomass projects. Specifically, it examines some of the principal multilateral and export credit agencies having involvement in this area. Finally, it examines potential strategies available to the developer of a biomass project for soliciting the involvement of, and negotiating with, local governments and public financing agencies. (author)

  10. Financing Renewable Energy Projects on Contaminated Lands, Landfills, and Mine Sites

    Science.gov (United States)

    Provides information concerning financing tools and structures, as well as federal financial incentives that may be available for redeveloping potentially contaminated sites, landfills, or mine sites for renewable energy for site owners.

  11. Clean Energy Finance Tool

    Science.gov (United States)

    State and local governments interested in developing a financing program can use this Excel tool to support energy efficiency and clean energy improvements for large numbers of buildings within their jurisdiction.

  12. Assessment of Energy Efficiency Project Financing Alternatives for Brookhaven National Laboratory

    Energy Technology Data Exchange (ETDEWEB)

    Hunt, W. D.; Hail, John C.; Sullivan, Gregory P.

    2000-02-14

    This document provides findings and recommendations that resulted from an assessment of the Brookhaven National Laboratory by a team from Pacific Northwest National Laboratory to assess the site's potential for various alternative financing options as a means to implement energy-efficiency improvements. The assessment looked for life-cycle cost-effective energy-efficiency improvement opportunities, and through a series of staff interviews, evaluated the various methods by which these opportunities may be financed, while considering availability of funds, staff, and available financing options. This report summarizes the findings of the visit and the resulting recommendations.

  13. Project finance in Eastern Europe

    International Nuclear Information System (INIS)

    Hart, R.C.

    1993-01-01

    A dysfunctional system of commercial, legal, and financial institutions is the primary problem facing the energy sectors in Eastern Europe. Generally, a major systemic transformation is well underway in the area and is already showing signs of success. The empty promise of export credit financing exerts a significant negative influence on this reform process. The discipline of project finance provides the best, if not the only, basis for financing the modernization of the Eastern European energy sector. An example is given of the Cracow Environmental Project, a modernization project. The power plant is a combined heat and power facility with 460 MW of electric capacity and 1450 MW of thermal energy capacity. Located near the center of Cracow, the plant burns hard coal and provides more than seventy percent of the central district heat consumed in the city. The scope of proposed improvements has changed from the addition of capacity to a combination of modernization and environmental retrofit of the existing plant. The total estimated cost of the improvements program is 150 million dollars. The project consists of three major elements. First, it has proposed and is in the process of restructuring the ownership of the power plant. Second, it is engaged in a major restructuring of the commercial arrangements that govern the operation of the plant. Finally, it is in the late stages of selecting an engineering, procurement, and construction consortium with which it will contract to design and make major improvements to the existing plant

  14. Nuclear power: Financing big projects

    International Nuclear Information System (INIS)

    Raabe, G.

    1992-01-01

    Since the early seventies, the Dresdner Bank AG has been intensively engaged in financing nuclear power plants, e.g., the Muelheim-Kaerlich Nuclear Power Station currently down because of legal technicaltities. The bank has also been involved in other large-scale projects in the energy sector and, in addition, has conceptually accompanied the stages of the nuclear fuel cycle, such as enrichment, fuel element fabrication, and reprocessing. However, for political reasons it has not been possible to carry out these projects and finance them in the Federal Republic. With appropriate modifications, these financial models can also be transferred to international projects; after all, the enrichment sector has always been characterized by trilateral ventures. (orig.) [de

  15. Default risk in project finance

    NARCIS (Netherlands)

    Klompjan, R.; Wouters, Marc

    2002-01-01

    Understanding default risk in project finance is relevant to investors. This article investigates which factors are most strongly associated with the occurrence of project finance default, using data from 210 projects, of which 37 were in default. The authors found that the use of proven technology,

  16. Financing Preference Behaviour for Private Finance Initiative (PFI Projects

    Directory of Open Access Journals (Sweden)

    Yati Md Lasa

    2016-01-01

    Full Text Available Project Financing Initiative (PFI projects require the private sector to invest an enormous amount of capital for the development of public projects. The private sector has to seek cost-effective financing sources for their survival in the long-term concession. Conventional financing uses widely; however, Islamic financing promises better financing through profit and loss sharing. This paper reviews financing preferences for PFI projects and the factors influencing the choice of funding. The results show that religious perspective, quality of services, financing facilities and reputation are the factors that are expected will influence the financing preference behaviour, either Islamic or conventional finance.

  17. Financing emerging energies

    International Nuclear Information System (INIS)

    Row, J.

    2006-01-01

    This paper discusses the financing of emerging energies in Canada. Transforming energy markets will involve billions of dollars of investment from businesses and residents. Many different types of return on investment can be expected. These benefits will continue to grow over time and provide a permanent i ncome

  18. Financing renewables - wind energy

    International Nuclear Information System (INIS)

    Armstrong, J.

    1998-01-01

    This paper describes the status of the wind energy markets world-wide, in Europe and in the UK. It outlines the main methods of financing wind energy installations and discusses why different institutional structures have led to different markets in the UK and in Germany, with some concern about the state of the UK onshore industry. The paper looks ahead to the opening up of the potentially much larger offshore wind resource, concluding that in this area, existing UK development and financing structures are well suited. (Author)

  19. Financing of Chamera project

    International Nuclear Information System (INIS)

    Jain, A.K.; Chakraborty, D.K.

    1994-01-01

    Chamera Hydroelectric Project was selected by National Hydroelectric Power Corporation (NHPC) as a pilot project for accelerated development of hydro-power in the country. This project was considered to have certain distinct specialties from different aspects in comparison with other projects. In the first place, the field investigation for the project was completed in a record time of only eight months by deploying the most modern techniques. Secondly, Chamera was the first NHPC project with external aid both technically and financially. The third and most important of all the specialties was in the planned reduction of construction period to 6 years from the original estimate of 8 years. Such reduction of gestation period was considered to be the direct outcome of modern method of management, monitoring and improved imported technology. The investment decision in the project was taken in April '84 with an estimated cost of energy at busbar 44.12 paise/unit exclusive of return on equity capital and royalty payable to the home state. The all inclusive rate of power was estimated 75.86 paise/unit. (author). 4 tabs

  20. Ready to Retrofit: The Process of Project Team Selection, Building Benchmarking, and Financing Commercial Building Energy Retrofit Projects

    Energy Technology Data Exchange (ETDEWEB)

    Sanders, Mark D. [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Parrish, Kristen [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Mathew, Paul [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2012-05-01

    This guide presents a process for three key activities for the building owner in preparing to retrofit existing commercial buildings: selecting project teams, benchmarking the existing building, and financing the retrofit work. Although there are other essential steps in the retrofit process, the three activities presented in this guide are the critical elements where the building owner has the greatest influence on the outcome of the project.

  1. Financing waste to energy plants

    International Nuclear Information System (INIS)

    Woodward, A.

    1991-01-01

    Waste-to-energy projects are going ahead in the U.K., they are being project financed and they will make a valuable contribution to environmentally acceptable waste disposal and clean energy within the U.K. Starting from the premise that project sponsors must compete for funds therefore behoves the project sponsor to adapt his proposal to the needs of the investor rather than the other way around. Some of the major potential suppliers of funds are briefly surveyed. It is concluded that waste-to-energy projects do not fit easily into the business plans of venture capital companies, pension funds and banks. Projects must be reworked so that a more favourable opportunity can be offered to potential funders. Ways of achieving this through improved economics and reductions in risk and uncertainty are examined. (author)

  2. Financing energy development

    International Nuclear Information System (INIS)

    Kariwara, Y.

    1990-01-01

    The 1990s is likely to be a decade of double growth: in energy demand and environmental protection. This leads the author of this paper to ask the pertinent questions of where the money will come from, and in what form, to finance the growth in capacity to produce this energy and the technology required to produce and burn it cleanly. With a focus on Asian energy markets, this paper first illustrates the problem by describing the rapid growth of energy demand in the region. It describes the growth in Japan as well as China and the fast-growing economies of Hong Kong, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan, and Thailand. Energy demand growth rates of almost 5 percent in the 1980s are expected to continue to grow at that rate at least until 2005, doubling today's level of consumption and putting the energy supply system under great strain. Because of the large sums involved, this paper pints out the necessity of inventing new, innovative devices for future fund raising. This will require the participation of institutions such as insurance companies and regional banks that have little experience in the energy field. This paper suggests that these and the established players in energy finance will have recourse to two new approaches: Build-Operate-Transfer and Trustee Borrowing schemes

  3. Financing the Ranger uranium project

    International Nuclear Information System (INIS)

    Hodge, S.J.; Miskelly, N.

    1983-01-01

    Construction of the Ranger uranium project located 230 km east of Darwin in the Northern Territory commenced in January 1979. Energy Resources of Australia Ltd was incorporated in February 1980 to acquire all the rights in the project. The total cost to ERA of these rights was $407 million. In October 1980 ERA'S cash requirements were estimated to be $553 million. Overseas participants (power utilities who had agreed to purchase uranium yellowcake under contract) arranged to take up 25% of the equity capital, Peko-Wallsend Ltd and EZ Industries Ltd were allotted 30.5% each and 14% was issued to Australian residents. The loan and equity financing arrangements required the successful resolution of many complex and interlocking factors, including technical and economic feasibility, agreement with aboriginal interests, compliance with Government policies and securing of sales contracts

  4. Innovative finance : strategic research project.

    Science.gov (United States)

    2013-08-01

    Its time to rethink how we fund transportation infrastructure because most transportation : experts agree: theres a transportation funding and financing crisis looming. : Projected revenues from current sources of transportation funding will am...

  5. Potential Sources for Financing Environmental Protection Projects – Focusing on Energy Efficiency

    Directory of Open Access Journals (Sweden)

    Milan Počuča

    2015-05-01

    Full Text Available This paper elaborates financial mechanisms for financing energy efficiency with particular emphasis on the resources from financial institutions and equity funds and capital from the companies themselves. By conducting relevant academic research of literature and data from print and electronic sources (statistical reports, laws and regulations, statements of companies and financial institutions, as well as from the practical experience of some countries, it has been observed that the poor representation of adapted financial mechanisms is a major constraint to the emergence of a culture of energy efficiency in most countries, including Serbia. Even where they exist they are not necessarily known to make use of successful experiences. By conducting an analysis of the relevant academic literature and an analysis of practical experiences in the domain of energy efficiency and renewable energy sources it was concluded that energy efficiency is a significant potential for growth of the economic strength of Serbia, and therefore incentives should nfluence a greater use of renewable energy and a reduction in use of the fossil fuels as an energy source.

  6. Biomass energy projects in Central and Eastern Europe. General information, favorable concepts and financing possibilities

    International Nuclear Information System (INIS)

    Ellenbroek, R.; Ballard-Tremeer, G.; Koeks, R.; Venendaal, R.

    2000-08-01

    The purpose of this guide is to provide information on the possibilities to invest and carry out biomass energy projects in Central and Eastern Europe. In the first part of the guide background information is given on countries in Central and Eastern Europe, focusing on bio-energy. A few cases are presented to illustrate different biomass energy concepts. Based on economic calculations an indication is given of the feasibility of those concepts. Also the most relevant sources of information are listed. In the second part an overview is given of Dutch, European and international financial tools that can be used in biomass energy projects in Central and Eastern Europe

  7. Financing of nuclear projects

    International Nuclear Information System (INIS)

    Diel, R.

    1983-01-01

    Delays in the completion of nuclear power plants aggravate the financing of such ventures because the contractual sums to be paid for interest and amortization are not generated. Moreover, economic feasibility analyses by the banks are rendered ineffective by changes in the underlying data, such as the structure of electricity rates and the supply monopoly held by utilities. The German nuclear power plants at present in operation or under construction were financed mainly through subsidiares of the participating utilities outside the balance sheets of the parent companies. The banks have developed a number of financing concepts to adapt funding to the specific needs of practice. Future nuclear power plants make-up one third of the present capacity of the participating utilities. However, they will require three to four times the previous volume of capital investments. Yet it is certain that the expansion of nuclear power in the Federal Republic of Germany will not be hampered by financial problems. The funding models developed for nuclear power plants have already proved their qualities. However, the problems of nuclear power have not become less. Attention must also be drawn to some weak spots in the financial sector. (orig.) [de

  8. A review of overseas financing mechanisms and incentives for commercial renewable energy projects. V. 2: Case study countries

    International Nuclear Information System (INIS)

    1996-01-01

    This second volume of a major study conducted for the United Kingdom Department of Trade and Industry aims to review financing mechanisms and incentives for the commercialisation of renewable energy projects. The countries included in this volume present case studies from countries identified as having particularly interesting current or past policies for the development and commercialisation of renewable energy technologies, namely Austria, Denmark, Germany, Greece, India, The Netherlands, Spain and two states in the United States of America. Data is presented on key facts, energy issues and organizations as well as energy and environmental policy for each country. The electricity supply industry, possibilities for renewable energy development, and incentive mechanisms in appropriate areas for development are also described for each country. (UK)

  9. Financing strategy for Indonesian Nuclear Power Project

    International Nuclear Information System (INIS)

    Subki, I.M.; Arbie, B.; Adiwardojo; Seotrisnanto, A.Y.

    1998-01-01

    In anticipation of the introduction in the early 2000s of a nuclear power plant, the Government of Indonesia (GOI), through the National Atomic Energy Agency (BATAN) , has formulated a Bid Invitation Specification (BIS) in parallel with the completion of the NPP Feasibility Study. This BIS formulation assumed an open international tender for the first unit of the NPP with project financing as a conventional loan. The GOI's recent policy is to minimize government financial support for power development. This paper summarizes a financing strategy for the Indonesian NPP project to make the NPP economically viable, and provides a general discussion on project financing using a conventional approach, Build--Own-Operate (BOO) and a counter-purchase approach. Innovative approaches for financing are still being pursued in order to obtain an optimum solution for investors and owners, to fulfill the Indonesian government's requirements. (author)

  10. Incentive Structure of Financing a Project: An Islamic Finance Approach

    OpenAIRE

    Lone, Fayaz Ahmad; Quadir, Abdul

    2017-01-01

    Financing is an important component in any project. Without finance, it is impossible to run any project as it is considered the lifeblood of the business. But due to the presence of predetermined rate of interest, economists have provided alternative approach for financing the project. In this paper a model using Profit and Loss Sharing (PLS) system and comparison of it with the conventional financing model is developed. Thrust in this paper is towards establishing a new theoretical reasonin...

  11. Project financing versus corporate financing under asymmetric information

    OpenAIRE

    Anton Miglo

    2008-01-01

    In recent years financing through the creation of an independent project company or financing by non-recourse debt has become an important part of corporate decisions. Shah and Thakor (JET, 1987) argue that project financing can be optimal when asymmetric information exists between firm's insiders and market participants. In contrast to that paper, we provide an asymmetric information argument for project financing without relying on corporate taxes, costly information production or an assump...

  12. FINANCING RENEWABLE ENERGY SOURCES INVESTMENT IN POLAND

    Directory of Open Access Journals (Sweden)

    Jerzy Piotr Gwizdała

    2017-09-01

    Full Text Available In Poland, as in other European Union countries, the project finance structure is used to finance investments in the field of energy. This method investment financing is often used in the world. The upward trend inhibition in recent periods has been due to the global financial crisis and financial instability in the euro zone. On account of the necessity to develop the energy infrastructure associated with renewable sources, the considerable strengthening in the use of project finance techniques can be expected. The particular progression may be observed in the case of public-private partnership (ppp, where public investments are carried out by private companies. Companies, in case of investment realization in the field of ppp, almost always use project finance, because it is a beneficial way to separate the risks associated with an investment from the balance sheet of the compa-ny.

  13. Leveraging energy efficiency to finance public-private social housing projects

    International Nuclear Information System (INIS)

    Copiello, Sergio

    2016-01-01

    The Italian housing model relies on a high rate of privately owned houses. In comparison, few dwellings are built and managed by the public sector. The social housing stock has been built mainly during some post-second world war decades; instead, since the early nineties, it underwent a privatization process. Such a model is inefficient and iniquitous in the long run. Therefore, after being disregarded for several years, social housing has gone back to be among the main agenda items. Nonetheless, due to the lack of public grants, new funding sources are required. The government now fosters an increasing involvement of private finance through Public-Private Partnership schemes. A first outcome can be found in some pioneering experiences. Their comparative analysis allows bringing out worthwhile findings, which are useful to steer housing policies. Moderate to low yields entail the need to involve new kinds of private entities, particularly those adopting a venture philanthropy approach. Meanwhile, building energy performance measures are a crucial driver of feasibility. They allow the tenants to be willing to pay agreed rents somehow higher than both social rents of protected tenancies and fair rents of regulated tenancies. - Highlights: •In Italy, the provision of affordable dwellings was disregarded for years. •Recently, instead, social housing has come back to be among the main agenda items. •Latest regulations try to tie together social housing and Public-Private Partnership. •Social tenants may be asked to pay more than in protected and regulated tenancies. •Energy-efficient measures allow keeping the tenants neutral about the rent increase.

  14. Bond financing for renewable energy in Asia

    International Nuclear Information System (INIS)

    Ng, Thiam Hee; Tao, Jacqueline Yujia

    2016-01-01

    Addressing the financing gap for renewable energy (RE) projects in Asia is critical to ensure that the rapidly increasing energy needs could be met sustainably. This paper explores the cause of the financing gap in Asia and proposes the use of bond financing to address the financing gap. Specifically, three fixed income instruments, namely local currency denominated (LCY) corporate bonds, asset backed project bonds and financial green bonds, will be assessed. Whilst the potential for these three instruments to mobilize large flows of private sector financing is great, key supportive policies aimed at reducing the capital market bias for conventional power generation technologies and supportive RE policies are required. Another key aspect would be the necessary deepening of local and regional fixed income markets before such capital market instruments are able to play a big role. - Highlights: •This study looks at the current financing gap and RE financing landscape in developing Asia. •LCY corporate bonds, asset backed projects bonds and financial green bonds could help to address the financing gap for RE in the region. •Policy recommendations for building the fixed income market for RE projects are provided.

  15. European windpower: project financing examined

    International Nuclear Information System (INIS)

    Mitchell, Catherine

    1993-01-01

    In part two of an examination of funding mechanisms for wind-generated electricity, the financing of wind projects in the major producers - Denmark, the Netherlands, Germany and the UK is examined. Part one examined the tariff and subsidy mechanisms available for wind generation in the same countries. (author)

  16. Data Collection for Current U.S. Wind Energy Projects: Component Costs, Financing, Operations, and Maintenance; January 2011 - September 2011

    Energy Technology Data Exchange (ETDEWEB)

    Martin-Tretton, M.; Reha, M.; Drunsic, M.; Keim, M.

    2012-01-01

    DNV Renewables (USA) Inc. (DNV) used an Operations and Maintenance (O&M) Cost Model to evaluate ten distinct cost scenarios encountered under variations in wind turbine component failure rates. The analysis considers: (1) a Reference Scenario using the default part failure rates within the O&M Cost Model, (2) High Failure Rate Scenarios that increase the failure rates of three major components (blades, gearboxes, and generators) individually, (3) 100% Replacement Scenarios that model full replacement of these components over a 20 year operating life, and (4) Serial Failure Scenarios that model full replacement of blades, gearboxes, and generators in years 4 to 6 of the wind project. DNV selected these scenarios to represent a broad range of possible operational experiences. Also in this report, DNV summarizes the predominant financing arrangements used to develop wind energy projects over the past several years and provides summary data on various financial metrics describing those arrangements.

  17. Guidebook to financing CDM projects

    Energy Technology Data Exchange (ETDEWEB)

    Kamel, S.

    2007-07-01

    One of the challenges facing Clean Development Mechanism (CDM) projects today is their limited ability to secure financing for the underlying greenhouse gas emission reduction activities, particularly in the least developed countries. Among the key reasons for this is the fact that most financial intermediaries in the CDM host countries have limited or no knowledge of the CDM Modalities and Procedures. Moreover, approaches, tools and skills for CDM project appraisal are lacking or are asymmetrical to the skills in comparable institutions in developed countries. Consequently, developing country financial institutions are unable to properly evaluate the risks and rewards associated with investing or lending to developers undertaking CDM projects, and therefore have, by-and-large, refrained from financing these projects. In addition, some potential project proponents lack experience in structuring arrangements for financing a project. This Guidebook - commissioned by the UNEP Risoe Centre as part of the activities of the Capacity Development for CDM (CD4CDM) project (http://www.cd4cdm.org) - addresses these barriers by providing information aimed at both developing country financial institutions and at CDM project proponents. It should be noted that while the Guidebook was developed particularly with the CDM in mind, most sections will also be relevant for Joint Implementation (JI) project activities. For more detailed information on JI modalities and procedures please consult: http://ji.unfccc.int The purpose of this Guidebook is two-fold: 1) To guide project developers on obtaining financing for the implementation of activities eligible under the CDM; and 2) To demonstrate to developing country financial institutions typical approaches and methods for appraising the viability of CDM projects and for optimally integrating carbon revenue into overall project financing. The target audiences for the Guidebook are therefore, primarily: 1) CDM project proponents in

  18. Development of project financing in Russia

    Directory of Open Access Journals (Sweden)

    Nikonova Irina Aleksandrovna

    2012-07-01

    Full Text Available The implementation of effective investment projects is essential to the modernization of the Russian economy and its transition to a high-tech way of development. The most complex and risky form of financing projects is project financing (Project Finance.

  19. Financing renewable energy: Obstacles and solutions

    Energy Technology Data Exchange (ETDEWEB)

    Brown, M.H.

    1994-06-01

    The majority of renewable energy technology projects now being developed use long term project financing to raise capital. The financial community scrutinizes renewables more closely than some conventionally fueled electric generation facilities because it perceives renewables as risky and expensive. Renewables pay for this perceived risk through higher interest charges and other more restrictive loan covenants. Risks that are not eliminated in the power sales agreement or through some other means generally result in higher project costs during financing. In part, this situation is a product of the private placement market and project finance process in which renewable energy facilities must function. The project finance process attracts banks and institutional lenders as well as equity investors (often pension funds) who do not want to place their capital at great risk. Energy project finance exists on the basis of a secure revenue stream and a thorough understanding of electric generation technology. Renewables, like all energy projects, operating in uncertain regulatory environments are often difficult to finance. In the uncertain regulatory environment in which renewables now operate, investors and lenders are nervous about challenges to existing contracts between independent power producers and utilities. Challenges to existing contracts could foretell challenges to contracts in the future. Investors and lenders now look to state regulatory environments as an indicator of project risk. Renewable energy technology evolves quickly. Yet, often the information about technological evolution is not available to those who invest in the energy projects. Or, those who have invested in new renewable energy technology in the past have lost money and are nervous about doing so in the future - even though technology may have improved. Inadequate or unfavorable information is a barrier to the development of renewables.

  20. Changing project finance climate; Project finance wo meguru kankyo henka

    Energy Technology Data Exchange (ETDEWEB)

    Madono, S. [The Export-Import Bank of Japan, Tokyo (Japan)

    1998-03-01

    Development of conditions under which project financing (PF) functions is described. PF, a method with which funds are procured for a project on the security of the assets of and the cash flow involving the project, established its position as a popular financial means. Into the 1990, however, PF underwent a complete change, when it came to be actively employed as a means for the procurement of money for what is called `infrastructure building project for invigorating the private sector` in the developing countries. PF has now come to be utilized for the financing of projects in various fields besides the field of resources exploitation. In particular, PF is now utilized in schemes such as BOT (build, operate, transfer) in public enterprises, for instance, electric power utilities in developing countries. The gravest problem found in the private sector invigorating type PF is that the sponsor, operator, exporter, and lender on their respective levels are experiencing rising risks because of intensified competition in the presence of a great number of projects. Such risks involve the exchange rate, the completion of work, and the relations between the borrower and operator. 2 figs.

  1. Issues in energy finance

    Science.gov (United States)

    Khokher, Zeigham Islam

    As opposed to the well developed and understood equity markets, the energy markets are still in their infancy. The explosion of contracts, of both the primary and derivative types, are testament both to the existing size and the untapped growth potential of this exciting industry. However, because of its relative youth many basic issues in the energy markets remain unresolved. This thesis introduces some interesting questions and provides insights into these issues. Thematically, the chapters of this thesis are linked by an emphasis on valuation and risk management decisions. A contribution of this thesis is to show that subtle differences between the endogenous price process in our general equilibrium setting and the exogenous processes considered in earlier papers can generate significant differences in both financial and real option values. In addition to these valuation concerns there has been much debate about the corporate risk management function. Finance theory suggests that a value maximizing corporation should either be indifferent to hedging or, in the presence of certain imperfections, it should completely hedge all exposures. Both these extremes contradict empirical evidence. We show that existing corporate hedging behaviour is best explained in light of both physical market imperfections and directional predictions on future prices. While these speculative motives may arise from corporate hubris or genuine informational advantages, we argue that it would be difficult to implement private information in the absence of noise traders. Related to the risk management decision is the existence of futures risk premia. These premia have been thought to be cause by covariance with priced factors or due to the hedging demands of consumers and producers. This thesis argues that inventories serve as a signal of available quantity, which coupled with consumers fears regarding stockouts can induce a positive relationship between premia and inventories. In

  2. 78 FR 33755 - Project Financing Loans

    Science.gov (United States)

    2013-06-05

    ... CFR Part 1710 [0572-AC21] Project Financing Loans AGENCY: Rural Utilities Service, USDA. ACTION... also considering regulations to clarify the agency's procedures for single asset/project financing... parameters necessary to more effectively and prudently use project financing in the RUS electric loan program...

  3. The International Finance Corporation and financing of sustainable energy

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1997-12-01

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. IFC created an Infrastructure Department in 1992 in response to the growing demand for its services in this area. During fiscal 1996 IFC approved 33 projects for new investments of $715 million of which 27% were in the power sector. In recognition of the continuing demand growth for private power investments an expanded Power Department has been formed to handle IFC`s investments in electric power generation projects using renewable resources such as: run-of-the-river hydro, geothermal, biomass cogeneration, wind energy, and solar (photovoltaic, solar thermal, etc.), as well as conventional thermal generation projects, transmission and distribution projects, and energy efficiency investments.

  4. Financing power projects in emerging markets

    International Nuclear Information System (INIS)

    Matsumoto, G.T.

    1996-01-01

    Financing for power generation projects in the developing countries of the world has been provided by the United States Export-Import Bank. The loans provided by its new Project Finance Division, totalling $8.3 billion are described. The future of project financing for the power generation industry should, it is argued, rest not with government financing agencies, but with private sector financial markets. (UK)

  5. [The research project: financing and management].

    Science.gov (United States)

    Schena, F P

    2003-01-01

    Basic and clinical research is accomplished by projects. The design of a project is not only based on the scientific content but also on its financing and management. This article wants to illustrate the correct modalities for project financing and project management in a scientific project.

  6. Assessment of energy efficiency project financing alternatives for Brookhaven National Laboratory

    Energy Technology Data Exchange (ETDEWEB)

    WDM Hunt; JC Hail; GP Sullivan

    2000-03-13

    Energy reduction goals for Federal agencies were first established in the National Energy Conservation Policy Act of 1988, and directed 10{percent} reduction in facility energy use based on a 1985 baseline. Since that time, Federal sites have been actively seeking and implementing a wide variety of energy-efficiency measures in facilities across the Federal sector. In the intervening years this energy reduction goal has been progressively increased to 20{percent} through legislation (Public Law 102-486, The Energy Policy Act of 1992) and a number of Executive Orders. Executive Order 13123, Greening the Government Through Efficient Energy management (signed June 3, 1999), further increased the facility energy-efficiency improvement goal from 30{percent} in 2005 to 35{percent} by 2010 relative to the 1985 baseline.

  7. Financing innovative technologies in wind projects

    International Nuclear Information System (INIS)

    Vaughan, C.

    2006-01-01

    Methods of market entry and the financing of new technologies were discussed from the perspective of Clipper Windpower, a wind energy company based in the northeastern United States and Canada. Many new technology companies only consider private equity when seeking financing for new product development. However, financing for projects and products is only the first step to market entry. Wind projects are the financial equivalent of a high yield bond with mechanical risk. Many wind power projects with company equity can also be seen as a long term bond with upside in any given year. It is therefore important for wind developers to seek out strategic buyers for both product development and project development, in addition to finding sources of private equity. Clipper Windpower Inc. has developed a partnership with British Petroleum (BP), who hold an equity interest in the company. Both companies are now partnering on projects with Clipper turbines, and firm orders are in place for 2007 and 2008. As a result of the partnership, Clipper now has increased its financial strength in cash flows, balance sheets, and projected revenue. It was concluded that a successful partnership can increase the scale of wind power development, and bring financial sophistication to smaller companies with limited resources. refs., tabs., figs

  8. Third party financing of renewable energy sources. Tercera reunion sobre la financiacion de energias renovables

    Energy Technology Data Exchange (ETDEWEB)

    1994-01-01

    The Institut of Energy Saving and Diversification (IDAE) hosted the third party on financing Renewable Energy Sources in Spain. The main aspects were : 1) Experiences in renewable energy. 2) Financing of small hydro-power projects. 3) Third party financing of biomass projects. 4) Financing of wind energy projects.

  9. Energy Smart Guide to Campus Cost Savings: Today's Trends in Project Finance, Clean Fuel Fleets, Combined Heat& Power, Emissions Markets

    Energy Technology Data Exchange (ETDEWEB)

    2003-07-01

    The Energy Smart Guide to Campus Cost Savings covers today's trends in project finance, combined heat& power, clean fuel fleets and emissions trading. The guide is directed at campus facilities and business managers and contains general guidance, contact information and case studies from colleges and universities across the country.

  10. An Introduction to International Factoring & Project Finance

    OpenAIRE

    Glinavos, Ioannis

    2002-01-01

    This work consists of two essays on law and finance in international trade. It addresses the means of raising funds for investment through receivables financing and project finance. The first essay discusses the role of receivables financing and in particular factoring in international trade. It examines the nature of factoring transactions and presents the efforts at regulation on an international level aimed at overcoming the difficulties in enforcement. The second essay discusses project f...

  11. Independent power project finance rating criteria

    International Nuclear Information System (INIS)

    Goldsmith, D.; Chew W.; Moulton, C.

    1992-01-01

    Continuing growth of project financing for non-utility generators in the US and abroad has led to growing focus on their credit strength. In general, the financings remain relatively risky and would likely be rated below investment grade, because of various factors: loose power purchase arrangements, poor match between power pricing and fuel costs, aggressive leverage, troubled operating performance. But S and P believes some projects have the credit strength to support investment grade ratings. As traditional financing markets for these projects --- bank lending and private placements with highly specialized institutional investors --- have contracted, project sponsors and developers are considering broader markets. These include institutional investors without specialized focus on power project finance. In these markets, distinctions among projects may lead to greater liquidity and efficiency in developing the pricing and terms under which projects can be financed. This paper reports that ratings are most appropriate for projects seeking permanent financing as they enter commercial operations. They also may be useful for projects which have been operating for some time and for some very strong projects which are raising construction financing. To guide both project developers and investors in project financing, S and P has developed the following approach for rating these types of financings

  12. Energy Finance Data Warehouse Manual

    Energy Technology Data Exchange (ETDEWEB)

    Lee, Sangkeun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Shankar, Mallikarjun [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Zeng, Claire [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Hendrickson, Stephen [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-11-30

    The Office of Energy Policy and Systems Analysis s finance team (EPSA-50) requires a suite of automated applications that can extract specific data from a flexible data warehouse (where datasets characterizing energy-related finance, economics and markets are maintained and integrated), perform relevant operations and creatively visualize them to provide a better understanding of what policy options affect various operators/sectors of the electricity system. In addition, the underlying data warehouse should be structured in the most effective and efficient way so that it can become increasingly valuable over time. This report describes the Energy Finance Data Warehouse (EFDW) framework that has been developed to accomplish the defined requirement above. We also specifically dive into the Sankey generator use-case scenario to explain the components of the EFDW framework and their roles. An excel-based data warehouse was used in the creation of the energy finance Sankey diagram and other detailed data finance visualizations to support energy policy analysis. The framework also captures the methodology, calculations and estimations analysts used for the calculation as well as relevant sources so newer analysts can build on work done previously.

  13. Financing wind power projects : perspectives from the US market

    International Nuclear Information System (INIS)

    Alam, M.

    2005-01-01

    This presentation outlined the recent assignments, core competencies and scope of services provided by Alyra Renewable Energy Finance Advisors. Renewable energy developers seek Alyra's assistance in developing strategies to achieve the most competitive solutions in finance and strategy. Alyra has broad finance expertise in renewable energy projects, a deep knowledge of markets and a significant wind industry network. Alyra identifies emerging issues, completes financing solutions and helps with contract negotiations. This presentation outlined the notable features of wind financing, wind assessment, offtake arrangements, equity considerations, US wind debt markets, long term bank financing, and combined bank and private placement financing. It also included recent debt market activity for seven large wind farms in the United States. tabs., figs

  14. Alternative windpower ownership structures: Financing terms and project costs

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.; Kahn, E.

    1996-05-01

    Most utility-scale renewable energy projects in the United States are developed and financed by private renewable energy companies. Electric output is then sold to investor-owned and public utilities under long-term contracts. Limited partnerships, sale/leaseback arrangements, and project-financing have historically been the dominant forms of finance in the windpower industry, with project-finance taking the lead more recently. Although private ownership using project-finance is still the most popular form of windpower development, alternative approaches to ownership and financing are becoming more prevalent. U.S. public and investor-owned electric utilities (IOUs) have begun to participate directly in windpower projects by owning and financing their own facilities rather than purchasing windpower from independent non-utility generators (NUGs) through power purchase agreements (PPAs). In these utility-ownership arrangements, the wind turbine equipment vendor/developer typically designs and constructs a project under a turnkey contract for the eventual project owner (the utility). The utility will also frequently sign an operations and maintenance (O&M) contract with the project developer/equipment vendor. There appear to be a number of reasons for utility involvement in recent and planned U.S. wind projects. One important claim is that utility ownership and self-finance provides substantial cost savings compared to contracting with private NUGs to supply wind-generated power. In this report, we examine that assertion.

  15. 25 CFR 170.300 - May tribes use flexible financing to finance IRR transportation projects?

    Science.gov (United States)

    2010-04-01

    ... Financing § 170.300 May tribes use flexible financing to finance IRR transportation projects? Yes. Tribes may use flexible financing in the same manner as States to finance IRR transportation projects, unless... 25 Indians 1 2010-04-01 2010-04-01 false May tribes use flexible financing to finance IRR...

  16. Financing Energy Efficient Homes

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Existing buildings require over 40% of the world's total final energy consumption, and account for 24% of world CO2 emissions (IEA, 2006). Much of this consumption could be avoided through improved efficiency of building energy systems (IEA, 2006) using current, commercially-viable technology. In most cases, these technologies make economic sense on a life-cycle cost analysis (IEA, 2006b). Moreover, to the extent that they reduce dependence on risk-prone fossil energy sources, energy efficient technologies also address concerns of energy security.

  17. Financing Energy Efficient Homes

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2007-07-01

    Existing buildings require over 40% of the world's total final energy consumption, and account for 24% of world CO2 emissions (IEA, 2006). Much of this consumption could be avoided through improved efficiency of building energy systems (IEA, 2006) using current, commercially-viable technology. In most cases, these technologies make economic sense on a life-cycle cost analysis (IEA, 2006b). Moreover, to the extent that they reduce dependence on risk-prone fossil energy sources, energy efficient technologies also address concerns of energy security.

  18. Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

    2008-07-01

    The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

  19. Price increase and credit crunch: a double punishment for the financing of energy projects. Review of the Ifri Energy Breakfast Roundtable, 25 November 2008 in Brussels

    International Nuclear Information System (INIS)

    Schulke, Ch.

    2009-01-01

    The roundtable starts by giving an overview of the consequences of the sharp decrease of the oil price and the credit crunch for the financing of energy projects. Some analysts say that under-investment will be the main result and they hence predict a major supply crunch in some year's time. Others are more optimistic and point to the compensation and mitigating effects of the current situation, e.g. demand destruction and substitution. So a major question for the future is the extent of demand destruction that has happened: will this demand come back once the economic crisis is over? Furthermore, as developing costs decrease, will lower cost pressure allow some important projects to go forward? Finally, will the low oil revenue have an influence on producer countries stance on foreign investment by International Oil Companies? A discussion with the audience follows the presentations

  20. Financing investments in renewable energy: the impacts of policy design

    International Nuclear Information System (INIS)

    Wiser, Ryan H.; Pickle, Steven J.

    1998-01-01

    The costs of electric power projects utilising renewable energy technologies (RETs) are highly sensitive to financing terms. Consequently, as the electricity industry is restructured and new renewables policies are created, it is important for policymakers to consider the impacts of renewables policy design on RET financing. This paper reviews the power plant financing process for renewable energy projects, estimates the impact of financing terms on levelised energy costs, and provides insights to policymakers on the important nexus between renewables policy design and financing. We review five case studies of renewable energy policies, and find that one of the key reasons that RET policies are not more effective is that project development and financing processes are frequently ignored or misunderstood when designing and implementing renewable energy policies. The case studies specifically show that policies that do no provide long-term stability or that have negative secondary impacts on investment decisions will increase financing costs, sometimes dramatically reducing the effectiveness of the program. Within U.S. electricity restructuring proceedings, new renewable energy policies are being created, and restructuring itself is changing the way RETs are financed. As these new policies are created and implemented, it is essential that policymakers acknowledge the financing difficulties faced by renewables developer and pay special attention to the impacts of renewables policy design on financing. As shown in this paper, a renewables policy that is carefully designed can reduce renewable energy costs dramatically by providing revenue certainty that will, in turn, reduce financing risk premiums. (Author)

  1. Commodities, energy and environmental finance

    CERN Document Server

    Ludkovski, Michael; Sircar, Ronnie

    2015-01-01

    This volume is a collection of chapters covering the latest developments in applications of financial mathematics and statistics to topics in energy, commodity financial markets and environmental economics. The research presented is based on the presentations and discussions that took place during the Fields Institute Focus Program on Commodities, Energy and Environmental Finance in August 2013. The authors include applied mathematicians, economists and industry practitioners, providing for a multi-disciplinary spectrum of perspectives on the subject. The volume consists of four sections: Electricity Markets; Real Options; Trading in Commodity Markets; and Oligopolistic Models for Energy Production. Taken together, the chapters give a comprehensive summary of the current state of the art in quantitative analysis of commodities and energy finance. The topics covered include structural models of electricity markets, financialization of commodities, valuation of commodity real options, game-theory analysis of ...

  2. Conference on energy transition financing in France and Germany

    International Nuclear Information System (INIS)

    Faucheux, Ivan; Rid, Urban; Sickenberger, Peter; Ricordeau, Damien; Schmidt, Gerrit

    2014-01-01

    The French-German office for Renewable energies (OFAEnR) organised a conference on the energy transition financing in France and in Germany. In the framework of this French-German exchange of experience, participants exchanged views on the legal framework, the instruments and the role of financing institutions in the development of a low-carbon society and economy. Questions regarding the successful financing of renewable energy projects and the expectations of financiers were addressed. This document brings together the available presentations (slides) made during this event: 1 - Regulatory framework for investment in the 'green sector' in France (Ivan Faucheux); 2 - Overview of the financing framework for the German 'Energiewende' (Rid, Urban); 3 - Financing Renewables - KfW's Instruments and Track Record (Peter Sickenberger); 4 - French Overview on Renewable energy Financing (Damien Ricordeau); 5 - Profitability analysis of renewable energies in Germany: Which stakeholders and financing models have proven successful? (Gerrit Schmidt)

  3. The Japanese approach to financing LNG projects

    International Nuclear Information System (INIS)

    Aoki, Wataru

    1995-01-01

    The Japanese approach approach to financing LNG project has been what could be called a combined purchase and finance system which has been arranged mainly at the initiative of japan's Sogo Shosh (general trading companies) with the support of japanese governmental financial agencies and a purchase commitment from japanese utilities. In the QATARGAS project, despite it being the first greenfield LNG project in decade since North West Shelf Australia LNG project, financing for the LNG plant phase has been successfully arranged through Japanese financing. The structuring of the financial facilities for the QATARGAS project seems to have lessons for future development of the next generation of greenfield LNG projects. Discharge of the parties' liability, proper sharing of the risk burden and reconfirmation of the spirit of mutual understanding and trust among the parties concerned are key factors for the success of any new LNG project in the future. (Author)

  4. Optimization of finances into regional energy

    Directory of Open Access Journals (Sweden)

    Alexey Yuryevich Domnikov

    2014-06-01

    Full Text Available The development of modern Russian energy collides with the need for major investments in the modernization and renewal of generation and transmission capacity. In terms of attracting sufficient financial resources and find ways to increase, energy sector profitability and investment attractiveness of particular importance is the problem of investment financing optimizing aimed at minimizing the cost of financing while maintaining financial stability of the power companies and the goals and objectives of Russian energy system long-term development. The article discusses the problem of investment projects financing in power generation from the point of view of the need to achieve optimal investment budget. Presents the author’s approach to the investment financing optimization of power generation company that will achieve the minimum cost of resources involved, taking into account the impact of the funding structure for the power generating company financial sustainability. The developed model is applied to the problem of investment budget optimizing, for example, regional power generating company. The results can improve the efficiency of investment in energy, sustainable and competitive development of regional energy systems.

  5. Financing the UK's renewable energy boom

    International Nuclear Information System (INIS)

    Lindley, D.

    1996-01-01

    The opportunity to invest in and operate renewable energy power projects in the United Kingdom is the result of the financial measures established by the Electricity Act 1989, which created the Non-Fossil Fuel Obligation. In the three different orders specified so far, approximately 1400 MW (declared net capacity) of contracts have been awarded to schemes generating electricity from wind, hydro, landfill gas, sewage gas, waste combustion and other combustion (using forestry wastes and biomass) schemes. The majority of projects that have become operational so far have been financed either on 'balance sheet' or by a combination of non-recourse or limited recourse project loans and investor equity. In order to fulfil the government's goal to have 1500 MW (declared net capacity) of electricity from renewables by 2000 and a total investment of in excess of 1.5 billion pounds will be required. This paper reviews the terms of the Non Fossil Fuel Obligation, gives details of contracts awarded so far, reviews the financing methods used, summarises the project risk and the means of mitigation and provides case histories of several different renewable energy projects financed in the UK. (author) 11 tabs., 10 refs

  6. The evolution of project financing in the geothermal industry

    International Nuclear Information System (INIS)

    Cardenas, G.S.; Miller, D.M.

    1990-01-01

    Sound underlying economics and beneficial contractual relationships are the fundamentals of any project financing. Given these essential elements, the successful transaction must properly allocate the costs, benefits and risks to the appropriate participants in the most efficient manner. In this paper the authors examine four instances in which project financing offered optimal solutions to this problem in a series of transactions for the successive development of the 70 MW Ormesa Geothermal Energy Complex in the Imperial Valley of California

  7. The EPSA Project Finance Mapping Tool

    Energy Technology Data Exchange (ETDEWEB)

    Hadley, Stanton W. [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States); Chinthavali, Supriya [Oak Ridge National Lab. (ORNL), Oak Ridge, TN (United States)

    2016-07-01

    The Energy Policy and Systems Analysis Office of DOE has requested a tool to compare the impact of various Federal policies on the financial viability of generation resources across the country. Policy options could include production tax credits, investment tax credits, solar renewable energy credits, tax abatement, accelerated depreciation, tax-free loans, and others. The tool would model the finances of projects in all fifty states, and possibly other geographic units like utility service territories and RTO/ISO territories. The tool would consider the facility s cost, financing, production, and revenues under different capital and market structures to determine things like levelized cost of energy, return on equity, and cost impacts on others (e.g., load-serving entities, society.) The tool would compare the cost and value of the facility to the local regional alternatives to determine how and where policy levers may provide sufficient incremental value to motivate investment. The results will be displayed through a purpose-built visualization that maps geographic variations and shows associated figures and tables.

  8. The Financing of Media Projects for Development.

    Science.gov (United States)

    Spain, Peter L.

    1978-01-01

    Discusses the financing of Third World media projects that are designed for development, and reports on five main sources of funding--government sources, international agencies, advertising sales, private local support, and self-support. (Author/JEG)

  9. Financing options for small hydro projects

    International Nuclear Information System (INIS)

    Shepherd, J.C.

    1993-01-01

    Examples and techniques used to enhance the ability to finance small hydro projects, or to finance them in non-standard ways, were discussed. It was suggested that factors that motivate investors, namely the maximization of the rate of return on capital, and minimization of risk, should be the primary concern for any would-be developer. A responsible, conservative approach to financial projections was recommended as the best to impress potential investors

  10. Finance and supply management project execution plan

    Energy Technology Data Exchange (ETDEWEB)

    BENNION, S.I.

    1999-02-10

    As a subproject of the HANDI 2000 project, the Finance and Supply Management system is intended to serve FDH and Project Hanford major subcontractor with financial processes including general ledger, project costing, budgeting, and accounts payable, and supply management process including purchasing, inventory and contracts management. Currently these functions are performed with numerous legacy information systems and suboptimized processes.

  11. 75 FR 65615 - Conditional Commitment for a Federal Loan Guarantee for Project Financing for Southwest Intertie...

    Science.gov (United States)

    2010-10-26

    ... DEPARTMENT OF ENERGY Conditional Commitment for a Federal Loan Guarantee for Project Financing for... based on the analysis in the Final Environmental Impact Statement for Project Financing for Southwest... support of debt financing for transmission infrastructure investment projects located in the United States...

  12. Financing Opportunities for Renewable Energy Development in Alaska

    Energy Technology Data Exchange (ETDEWEB)

    Ardani, K.; Hillman, D.; Busche, S.

    2013-04-01

    This technical report provides an overview of existing and potential financing structures for renewable energy project development in Alaska with a focus on four primary sources of project funding: government financed or supported (the most commonly used structure in Alaska today), developer equity capital, commercial debt, and third-party tax-equity investment. While privately funded options currently have limited application in Alaska, their implementation is theoretically possible based on successful execution in similar circumstances elsewhere. This report concludes that while tax status is a key consideration in determining appropriate financing structure, there are opportunities for both taxable and tax-exempt entities to participate in renewable energy project development.

  13. EnergySmart Schools National Financing Roundtable II—Key Outcomes

    Energy Technology Data Exchange (ETDEWEB)

    None

    2009-11-01

    As a follow-up to the release of its Guide to Financing EnergySmart Schools, the the National Financing Roundtable brought together individuals with diverse knowledge of school building programs and projects to discuss financing issues and options that build upon those described in the first Guide to Financing EnergySmart Schools.

  14. Assessment and financing of electric power projects

    International Nuclear Information System (INIS)

    Moscote, R.A.

    1976-01-01

    The aim of the appraisal of a project is to examine the economic need which a project is designed to meet, to judge whether the project is likely to meet this need in an efficient way, and to conclude what conditions should be attached to eventual Bank financing. Bank involvement continues throughout the life of the project helping to ensure that each project is carried out at the least possible cost and that it makes the expected contribution to the country's development. This paper gives an idea about the origin, nature and functions of the World Bank Group, describes the criteria used by the Bank in its power project appraisals, discusses the Bank's views on nuclear power, and concludes with a review of past lending and probable future sources of financing of electrical expansion in the less developed countries. (orig./UA) [de

  15. Finance and banking for wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Rave, Klaus [Investitionsbank Schleswig-Holstein (Germany)

    1999-01-01

    Installed wind power capacity in Schleswig-Holstein has grown from 2 MW in 1988 to about 600 MW in 1997; about 10% of the total power demand. The target of 20 to 25% by 2010 should easily be exceeded. Cost per kW of installed capacity has fallen from DM 3,350 in 1990 to DM 1,700 in 1997. Estimates for the world market for wind power are given. Criteria for evaluating the financing of a build, operate, transfer wind energy project are set out. (uk)

  16. Finance and banking for wind energy

    Energy Technology Data Exchange (ETDEWEB)

    Rave, Klaus [Investitionsbank Schleswig-Holstein (Germany)

    1999-04-01

    Installed wind power capacity in Schleswig-Holstein has grown from 2 MW in 1988 to about 600 MW in 1997; about 10% of the total power demand. The target of 20 to 25% by 2010 should easily be exceeded. Cost per kW of installed capacity has fallen from DM 3,350 in 1990 to DM 1,700 in 1997. Estimates for the world market for wind power are given. Criteria for evaluating the financing of a build, operate, transfer wind energy project are set out. (uk)

  17. Sustainable Energy (SUSEN) project

    International Nuclear Information System (INIS)

    Richter, Jiri

    2012-01-01

    Research Centre Rez and University of West Bohemia started preparatory work on the 'Sustainable Energy' project, financed from EU structural funds. The goals and expected results of the project, its organization, estimated costs, time schedule and current status are described. (orig.)

  18. Project Finance for Small and Medium Scale Enterprises (SMEs) in ...

    African Journals Online (AJOL)

    Project financing is one of the best methods of seeking to acquire capitals Funds and other tools to finance a planned business activity which will yields profit in order to liquidate the procured fund. Financing project for SMES is carried out by Federal, States and some development Institutions. In Nigeria, project financing ...

  19. [Project financing in public hospital trusts].

    Science.gov (United States)

    Contarino, F; Grosso, G; Mistretta, A

    2009-01-01

    The growing debate in recent years over how to finance public works through private capital has progressively highlighted the role of project finance (PF) and publicprivate partnerships (PPP) in general. More and more European countries are turning to PF to finance their public infrastructure development. The UK, which pioneered the adoption of project finance in this field, has been followed by Italy, Spain, France, Portugal and Germany and more recently by Greece, Czech Republic and Poland. Beginning in the late 1990's, Italy has steadily amplified its use of PF and PPPs in key sectors such as healthcare as an alternative way of funding the modernisation of its health facilities and hospitals. The trend reveal an average annual growth of 10.9% since 2002 with peaks of varying intensity over the five year period. Project finance and PPPs represent an effective response to the country's infrastructure gap and support the competitiveness of local systems and the quality of public services. None of this will transpire, however without energetic new planning efforts and adequate policy at the centre.

  20. External financing of projects on cogeneration

    International Nuclear Information System (INIS)

    Contreras Olmedo, D.

    1993-01-01

    The Spanish Institute for Energy Saving and Diversification (IDAE), provides technical advisement and economical support to those industries requiring an improvement in the energy efficiency of their production chain. This paper focusses on administrative procedures to get external financing as one way to undertake the construction of cogeneration plants. Relationships among user, promoter and financier should be developed according to the outlined procedures. (Author)

  1. Financing Renewable Energy in the European Energy Market

    Energy Technology Data Exchange (ETDEWEB)

    De Jager, D.; Klessmann, C.; Stricker, E.; Winkel, T.; De Visser, E.; Koper, M. [Ecofys, Utrecht (Netherlands); Ragwitz, M.; Held, A. [Fraunhofer ISI, Karlsruhe (Germany); Resch, G.; Busch, S.; Panzer, C. [Energy Economics Group EEG, Vienna University of Technology, Vienna (Austria); Gazzo, A.; Roulleau, T.; Gousseland, P.; Henriet, M.; Bouille, A. [Ernst and Young, London (United Kingdom)

    2011-01-15

    The Directive 2009/28/EC on the promotion of the use of energy from renewable sources (RES) sets the overall target to reach 20% renewable energy in gross final energy consumption in 2020. This target is broken down into binding individual Member State targets. Reaching these targets will require a huge mobilization of investments in renewable energies in the coming decade. In order to improve financing and coordination with a view to the achievement of the 20 % target, Article 23 (7) of the Directive requires the Commission to present an analysis and action plan with a view to: (a) The better use of structural funds and framework programmes; (b) The better and increased use of funds from the European Investment Bank and other public finance institutions; (c) Better access to risk capital; (d) The better coordination of Community and national funding and other forms of support; (e) The better coordination in support of renewable energy initiatives whose success depends on action by actors in several Member States. This report presents the results of the title project. The study provides an up to date and thorough assessment of the costs of renewable energy and the support and financing instruments available for renewable energy R and D, demonstration projects and large-scale deployment. This includes details of each Member State's expenditure (via grants, support schemes, loans etc.) and use of Community funds, including loans of the EIB (European Investment Bank) and the EBRD (European Bank for Reconstruction and Development). It also explores the possible instruments for use in the future and constraints in the capital market, which hinder the development of renewable energy. Finally, it develops recommendations for improving financing and support instruments, improving the sector's access to capital, and closing the financing gap for reaching the 2020 targets. The chapters of the report represent separate tasks: (1) Costs of renewable energy

  2. Report on the behalf of the Commission for finances, general economy and budgetary control on the finance bill project for 2018 (nr 235). Appendix Nr 18 - Ecology, sustainable development and mobility: energy, climate and after-mines, public service for energy, financing the support to communities for rural electrification, energy transition - Nr 273

    International Nuclear Information System (INIS)

    Giraud, Joel; Aubert, Julien

    2017-01-01

    After some general statements and recommendations regarding public policy issues expressed within the mission for Ecology, Sustainable Development and Mobility, and more particularly on some specific budgetary allocations related to the public policy for energy and its specific programmes, this report presents some key budget-related data. It outlines and discusses how the budget for 2018 commits the French energy policy in an ecological and supportive transition, and then states some critics about the bill project readability. It comments the adequacy between the budgetary effort and ambitions of the energy policy, notably by commenting the financing increase or decrease of some specific programmes. In the next part, the author focuses on the way to find a new momentum for nuclear energy in France. In this respect, he discusses known benefits of nuclear power, increasing risks which threaten the sector (ageing reactors, EPR construction delays, unresolved issue of management for some nuclear wastes, AREVA dismantling and EDF's fragile financial situation). He also discusses conditions to be met to find out sustainable solution to this crisis as the application of the energy transition trajectory will require a decrease of the number of operated nuclear reactors, ways to open perspectives by keeping on supporting research and by adopting a dynamic exporting approach, and the importance of a maintained attention in terms of nuclear safety. The report of Commission debates and hearing is provided

  3. The international Finance Corporation and financing of sustainable energy

    International Nuclear Information System (INIS)

    Younger, D.R.

    1999-01-01

    The International Finance Corporation (IFC), a member of the World Bank Group, is the largest multilateral source of loan and equity financing for private sector projects in the developing world. IFC participates in an investment only when it can make a special contribution that complements the role of market operators. Since its founding 40 years ago, IFC has provided more than $18.8 billion in financing for 1,706 companies in developing countries. Its share capital is provided by its 170 member countries, which collectively determine its policies and activities. Strong shareholder support and a substantial paid-in capital base have allowed IFC to raise funds for its lending activities through its triple-A rated bond issues in international financial markets. (orig.)

  4. Appraisal and financing of electric power projects

    International Nuclear Information System (INIS)

    Sheehan, R.H.

    1975-01-01

    This paper starts with the origin, nature and functions of the World Bank Group, reviews the past lending, describes the criteria used by the Bank in its power project appraisals, discusses the Bank's views on nuclear power, and concludes with a look at the probable future sources of financing of electrical expansion in the less developed countries. (orig./UA) [de

  5. Financing of renewable energy from biomass in the Central and Eastern Europe

    International Nuclear Information System (INIS)

    Vajda, P.

    2004-01-01

    In this paper author presents activities of International Finance Corporation in the field of renewable energy. Author is focused on a description of one of last program called 'Commercializing Energy Efficiency Finance' (CEEF) than to cover all available related products or programs. The CEEF program represents an innovative approach leading to sustainable financing of EE projects including RE biomass projects. Financing of some EE projects in the Central and Eastern Europe is described

  6. Rural energy finance in Tanzania: Thinking outside the box

    International Nuclear Information System (INIS)

    Persson, Therese Hindman; Anderson, Ryan

    2006-01-01

    Conventional financing approaches have proven inadequate in the drive to provide rural communities with modern energy. A recent study by ECON found a critical need for initiatives aimed at improving consumer's access to financing. In addition, demonstration projects are needed to prove the financial viability of investments in rural energy. ECON's recommendations are focused on strengthening the demand side of the financial supply chain and, in particular, consumers' access to credit

  7. Financing renewable energies. Windows for new opportunities

    International Nuclear Information System (INIS)

    Pontenagel, I.

    1999-01-01

    Renewable Energies are recognized as indispensable for a sustainable energy economy. Their progressive market introduction, however, depend very much on their economic competitiveness. A wide range of Renewable Energies are already cost competitive today. But still a shortage of information as well as mental and structural barriers are hindering their rapid market penetration. This volume publishes the results of two conferences, held by EUROSOLAR and dealing with the problems of Financing Renewable Energies. In five chapters - Banking Concepts for Financing Renewable Energies - Public Frameworks for Renewable Energy Market Introduction - Financing Renewable Energies in Developing Countries - Green Power - Market Structures and Players - Renewable Energy Financing Applications a variety of new concepts and fresh ideas are presented. (orig.)

  8. Financing of Competing Projects with Venture Capital

    OpenAIRE

    Goldfain, Ekaterina; Kovac, Eugen

    2005-01-01

    We analyze innovation race in a moral hazard setting. We develop a model in which two competing entrepreneurs work independently on the same project. The entrepreneurs do not possess any wealth of their own and their research is financed by a venture capitalist. The project, if successful, generates a prize, which is to be shared between the winning entrepreneur and the venture capitalist. The venture capitalist cannot observe the allocation of funds he provides, which creates a moral hazard ...

  9. Plugging the Energy Efficiency Gap with Climate Finance

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    The role of International Financial Institutions (IFIs) and the Green Climate Fund to realise the potential of energy efficiency in developing countries. This report examines the current role of climate finance in funding EE projects and the potential to channel funds to relevant EE projects in developing countries under the new Green Climate Fund (GCF). The objectives of the report are to examine: 1) the share of climate finance currently being channelled to energy efficiency measures, and 2) how the design of climate finance can better facilitate energy efficiency projects. Improving energy efficiency (EE) can deliver a range of benefits such as improved air quality, enhanced economic competitiveness and, at the national scale, a higher degree of energy security. Significant improvements in energy efficiency in developing countries could provide greater opportunity for economic growth while also providing broader access to energy and related services even from limited energy resources. However, several barriers limit the scaling-up of funding of EE projects in developing countries (some are common also to developed countries). The report focuses primarily on public climate finance flows from 'north' to 'south', probing the current use of funds from multi-lateral development banks (MDBs), bi-lateral financial institutions (BFIs) and carbon markets for energy efficiency projects and the design of the future climate financial mechanisms such as the Green Climate Fund to encourage energy efficiency improvements in developing countries.

  10. Financing energy efficiency: lessons from experiences in India and China

    DEFF Research Database (Denmark)

    Painuly, J.P.

    2009-01-01

    in China and India. This paper aims to report the experience of a three-country United Nations Environment Programme/World Bank Energy Efficiency Project (involving China, India and Brazil) that is set up to address the financial barrier and identifies the lessons that can be learnt from the project...... on potential of energy efficiency and need to make financing available for this. The banks in India in created specialized schemes for energy efficiency financing, and in China, the project has a positive impact on the new initiatives with the on-lending facility and the guarantee fund for energy management....... Design/methodology/approach – The paper follows the post-completion review approach of a project and presents the activities undertaken and results obtained from the project. Findings – The project seeks to remove the financial barrier through the development of a commercial banking window for energy...

  11. An Exploratory Study of the Effects of Project Finance on Project Risk Management : How the Distinguishing Attributes of Project Finance affects the Prevailing Risk Factor?

    OpenAIRE

    Chan, Ka Fai

    2011-01-01

    Project finance is a financing arrangement for projects, and it is characterised by the creation of a legally independent project company financed with non- or limited recourse loans. It is observed that the popularity of project finance is increasing in the recent decades, despite of the impact of Asian financial crisis. Especially in emerging markets, project finance is very common among the public-private partnership projects. It is possible that project finance yields some benefits in pro...

  12. APPROACHES FOR EVALUATING AND FINANCING INVESTMENT PROJECTS

    Directory of Open Access Journals (Sweden)

    MARIA-LOREDANA POPESCU

    2011-04-01

    Full Text Available This article presents the financial investment approach and the investment evaluation methods, which are criteria for assessing both investment projects and their funding sources. An important role in the analysis carried out is played by the investment decision and financing decision quality. Making an investment decision implies computing the related investment efficiency indicators. They allow the comparison of several variants of the same investment project as well as their comparison with other projects in the same industry or in other industries. The financing decision concerns the selection between their own sources (share capital, depreciation fund, profits, reserve funds, additional capital, revenues from investments, attracted sources (domestic resource mobilization and borrowed sources (credits.

  13. Financing off-grid sustainable energy access for the poor

    International Nuclear Information System (INIS)

    Glemarec, Yannick

    2012-01-01

    This paper examines the role of public instruments in promoting private finance to achieve off-grid sustainable energy access. Renewable energy technologies are increasingly becoming the cheapest solutions for off-grid energy access. The dramatic uptake of mobile phones in developing countries shows how quickly decentralized services can develop on a commercial basis under the right conditions, and raises the prospect that private finance could also drive decentralized energy access for the poor. Indeed, there are already a number of instances of clean energy solutions – such as solar portable lights, household biogas units or solar home systems – that have managed to scale-up through leveraging private finance. However, the experience gained from first-generation market development projects show that, in almost all cases, significant public resources have been necessary to increase the affordability of clean energy technologies, provide access to financing for the poor, and remove non-economic barriers. Such public interventions may be funded by international public finance, domestic budgets and carbon finance. Despite mounting fiscal constraints facing governments worldwide, the emergence of new sources of climate finance and the political momentum in support of energy subsidy reforms, as well as new programming modalities, offer opportunities to leverage additional resources to achieve universal energy access by 2030. - Highlights: ► Renewable energy is increasingly the cheapest solution for off-grid energy access. ► Universal access to energy now depends less on technology and more business models. ► Substantial public finance will still be required to support universal energy access.

  14. Renewable Energy Finance Tracking Initiative (REFTI) Solar Trend Analysis

    Energy Technology Data Exchange (ETDEWEB)

    Hubbell, R.; Lowder, T.; Mendelsohn, M.; Cory, K.

    2012-09-01

    This report is a summary of the finance trends for small-scale solar photovoltaic (PV) projects (PV <1 MW), large-scale PV projects (PV greater than or equal to 1 MW), and concentrated solar power projects as reported in the National Renewable Energy Laboratory's Renewable Energy Finance Tracking Initiative (REFTI). The report presents REFTI data during the five quarterly periods from the fourth quarter of 2009 to the first half of 2011. The REFTI project relies exclusively on the voluntary participation of industry stakeholders for its data; therefore, it does not offer a comprehensive view of the technologies it tracks. Despite this limitation, REFTI is the only publicly available resource for renewable energy project financial terms. REFTI analysis offers usable inputs into the project economic evaluations of developers and investors, as well as the policy assessments of public utility commissions and others in the renewable energy industry.

  15. Project finance of hydroelectric power plants in Brazil; 'Project finance' de usinas hidroeletricas no Brasil

    Energy Technology Data Exchange (ETDEWEB)

    Ribeiro Filho, Valfredo de Assis; Ramos, Maria Olivia de Souza [Universidade Salvador (UNIFACS), BA (Brazil)

    2008-07-01

    The aim of this paper is to discuss the modality of project finance of financing of enterprises, which is the main modality of structuring of hydroelectric projects in Brazil. In the discussion will be highlighted the importance of contracts EPC (Engineering, Search and Construction) in the structuring of project finances. This financing model has particular characteristics related to risk sharing and financial flexibility that enable the financing of projects with long-term capital, however, due to participation of various actors and the nature of the structure of project finance, the negotiation and drafting of contracts are always very complex.

  16. Developing financeable projects in Central Europe

    Energy Technology Data Exchange (ETDEWEB)

    Chelberg, R.; Prerad, V. [POWER International, Josefov (Czechoslovakia)

    1995-12-01

    POWER`s engineering and development experience in the Czech Republic creating financeable projects within the power generation industry will be presented. POWER has been involved in the Czech Republic`s privatization process, environmental legislation as well as formation of the regulatory environment. Strategic methods for accomplishing the development of financeable projects often include ownership and financial restructuring of the projects. This is done by utilizing internal cash flows, external debt and equity placement (provided by international financial institutions) by restructuring the facility`s contractual relationships and operations (providing as least cost solution to engineering) and possibly using existing governmental guarantees. In order to make any recommendations on how to come into compliance with the country`s environmental legislation, it is necessary to begin with an analysis of the existing facility. This involves preparation of technical and economic feasibility study, evaluation of technology and preliminary engineering solutions. It further involves restructuring of power sales agreements, heat sales agreements, and fuel supply agreements. The goal is to provide suitable security for the equity and debt financing participants by mitigating risk and creating a single purpose business unit with predictable life and economics.

  17. Energy investments and ways of financing them

    International Nuclear Information System (INIS)

    Diel, R.

    1975-01-01

    The energy investments to be financed within the framework of the Federal Republic's energy programme require a growing proportion of external financing. The lending possibilities here are, however, also bound to the general regulations of the financial system where the credit solvency of the borrower, i.e. the earnings of the electricity industry, is a major criterion. Considering the promising market situation of the electricity industry, an elevation of the present credit line and a relaxation of the demands made on the balance relations should be justifiable, as even in this case the problems of financing cannot be solved by the exclusive application of conventional methods. (orig./AK) [de

  18. Carbon finance options in renewable energy

    International Nuclear Information System (INIS)

    Nahar, P.

    2010-01-01

    The Kyoto Protocol splits the world into two categories, notably Annex 1 with binding targets; and non-Annex 1 without any binding targets. This presentation discussed the Kyoto Protocol, with particular reference to the flexibility mechanisms which allow countries to achieve their emission targets in a cost effective way through emission trading, joint implementation, or clean development mechanisms (CDM). The CDM was outlined in detail in terms of how it works. The CDM key concepts include baseline use, additionality, and monitoring. Reasons for risk and CDM renewable energy projects were also outlined. Other topics that were presented included the impact of carbon finance; United States federal climate policy; European Union policy; EVO structured carbon; portfolio management; and EVO structured carbon. tabs., figs.

  19. THE USE OF PROJECT FINANCE IN DEVELOPING COUNTRIES THE EXPERIENCES BRAZILIAN AND ASIAN IN THE SECTORS OF ÓLEO/GÁS AND ELECTRIC ENERGY

    OpenAIRE

    MARIA CLAUDIA MARTINS MARQUES

    2001-01-01

    Project finance é uma modalidade de financiamento que vem sendo apontada como alternativa para suprir as elevadas necessidades de investimento existentes nos países em desenvolvimento.O presente trabalho tem como objetivo analisar a utilização de project finance nos setores de óleo/gás e energia elétrica no Brasil, estabelecendo um paralelo com sua aplicação nos países emergentes da Ásia, que se destacaram pelo grande número de projetos implementados antes da cri...

  20. Project Investment and Project Financing: A study on Business Case and Financing Models

    OpenAIRE

    Wang, Simiao

    2012-01-01

    Uncertainty is a very significant factor that must be taken into consideration in project front-end phase management. By taking into uncertainty, the planners can to a great extent make sure that the business case could be accurate between specific intervals, hence business case can be based on to make decision. In a highly uncertain environment; the project sponsors should prefer other means to finance the project rather than using debt. Risk management is extremely important in project fina...

  1. Price increase and credit crunch: a double punishment for the financing of energy projects. Review of the Ifri Energy Breakfast Roundtable, 25 November 2008 in Brussels; Hausse des prix et baisse des credits: double peine pour le financement de l'energie - Compte-rendu du 'Ifri Energy Breakfast Roundtable' du 25 Novembre 2008 a Bruxelles

    Energy Technology Data Exchange (ETDEWEB)

    Schulke, Ch.

    2009-07-01

    The roundtable starts by giving an overview of the consequences of the sharp decrease of the oil price and the credit crunch for the financing of energy projects. Some analysts say that under-investment will be the main result and they hence predict a major supply crunch in some year's time. Others are more optimistic and point to the compensation and mitigating effects of the current situation, e.g. demand destruction and substitution. So a major question for the future is the extent of demand destruction that has happened: will this demand come back once the economic crisis is over? Furthermore, as developing costs decrease, will lower cost pressure allow some important projects to go forward? Finally, will the low oil revenue have an influence on producer countries stance on foreign investment by International Oil Companies? A discussion with the audience follows the presentations

  2. Risk Assessment of Engineering Project Financing Based on PPP Model

    Directory of Open Access Journals (Sweden)

    Ma Qiuli

    2017-01-01

    Full Text Available At present, the project financing channel is single, and the urban facilities are in short supply, and the risk assessment and prevention mechanism of financing should be further improved to reduce the risk of project financing. In view of this, the fuzzy comprehensive evaluation model of project financing risk which combined the method of fuzzy comprehensive evaluation and analytic hierarchy process is established. The scientificalness and effectiveness of the model are verified by the example of the world port project in Luohe city, and it provides basis and reference for engineering project financing based on PPP mode.

  3. The money game [Klohn Crippen project finance

    International Nuclear Information System (INIS)

    Power, W.; Shaw, J.

    1997-01-01

    Klohn Crippen Project Finance (KCPF) were formed in 1996 with the objective of providing development and financial advisory services mainly for hydropower and water related infrastructure projects in the light of the increasing trend by governments and utilities to privatise or offer concessions to private developers to build, own and operate such projects. The company becomes involved in the project at a very early stage and so can integrate the technical, commercial and financial aspects to ensure that the fundamental of its design concept, construction risk and methods, capital costs, contractual framework and sponsors are aligned to maximise its financial prospects. The development of the Asahan No. 1 180MW hydropower plant in the North Sumatra region of Indonesia is described as a clear illustration of the role that KCPF can play. (UK)

  4. Overcoming barriers to wind project finance in Australia

    International Nuclear Information System (INIS)

    Kann, Shayle

    2009-01-01

    The wind power industry in Australia is expected to grow rapidly over the next decade, primarily due to a forthcoming expanded national renewable energy target (RET) which will mandate that renewable sources provide approximately 20% of Australia's electricity production by 2020. However, development of new wind generation in Australia has stalled as a result of several barriers to project finance, the mechanism through which most wind farms have been developed historically. This paper provides an overview of wind power financing in Australia in light of recent political and financial trends. Drawing upon existing literature and a series of stakeholder interviews, it identifies three primary barriers to project finance: regulatory risk surrounding legislation of the RET, semi-privatization of electricity retailers in New South Wales, and limited capital availability resulting from the recent global credit crisis. The paper concludes that the confluence of these barriers limits the availability of long-term contracts that provide revenue certainty for pre-construction wind projects, while simultaneously making these contracts a necessity in order to obtain project finance. In an attempt to mitigate these effects, this paper identifies four alternative development strategies that can be pursued.

  5. Financing energy efficiency investments. Third party financing: practical problems and possible solutions

    International Nuclear Information System (INIS)

    Warren, A.

    1992-01-01

    Third Party Financing means the packaging together of both technical aid and the necessary funding for energy cost saving investments by an outside company (outside to the energy user that is), using the energy cost savings themselves to pay for that investment. There are two key factors which differentiate Third Party Financing and conventional approaches to the implementation of energy conservation projects, the first of which is the provision of all the necessary technical services - both initial and detailed energy audits, engineering design and implementation - from one source. The second difference involves viewing the energy cost savings as a ''stream oincome'' which will repay the cost of the investment. This approach has a number of attractions to energy users: the outside company brings both its technical expertise and the necessary up-front capital to fund the energy saving investment. In addition, because the payments to the outside company are contingent, either wholly or in part, upon the level and timing of the energy cost savings the technical and financial risk for the investment is transferred from the energy user to the outside company. However, although simple in concept, third party financing is complex in practice. How does an energy user judge one third party financing proposal against another? If an agreement is made, how are energy savings measured or what happens if there is a dispute between the two parties? These are examples of the practical questions addressed in this paper which must be resolved if third party financing is to be used to assist energy saving. (Author)

  6. Financing low carbon energy access in Africa

    International Nuclear Information System (INIS)

    Gujba, Haruna; Thorne, Steve; Mulugetta, Yacob; Rai, Kavita; Sokona, Youba

    2012-01-01

    Modern energy access in Africa is critical to meeting a wide range of developmental challenges including poverty reduction and the Millennium Development Goals (MDGs). Despite having a huge amount and variety of energy resources, modern energy access in the continent is abysmal, especially Sub-Saharan Africa. Only about 31% of the Sub-Saharan African population have access to electricity while traditional biomass energy accounts for over 80% of energy consumption in many Sub-Saharan African countries. With energy use per capita among the lowest in the world, there is no doubt that Africa will need to increase its energy consumption to drive economic growth and human development. Africa also faces a severe threat from global climate change with vulnerabilities in several key areas or sectors in the continent including agriculture, water supply, energy, etc. Low carbon development provides opportunities for African countries to improve and expand access to modern energy services while also building low-emission and climate-resilient economies. However, access to finance from different sources will be critical in achieving these objectives. This paper sets out to explore the financial instruments available for low carbon energy access in Africa including the opportunities, markets and risks in low carbon energy investments in the continent. - Highlights: ► Access to finance will be critical to achieving low carbon energy access in Africa. ► Domestic finance will be important in leveraging private finance. ► Private sector participation in modern and clean energy in Africa is still low. ► Many financing mechanisms exist for low carbon energy access in Africa. ► The right institutional frameworks are critical to achieving low carbon energy access in Africa.

  7. 46 CFR 298.18 - Financing Shipyard Projects.

    Science.gov (United States)

    2010-10-01

    ... 46 Shipping 8 2010-10-01 2010-10-01 false Financing Shipyard Projects. 298.18 Section 298.18 Shipping MARITIME ADMINISTRATION, DEPARTMENT OF TRANSPORTATION VESSEL FINANCING ASSISTANCE OBLIGATION GUARANTEES Eligibility § 298.18 Financing Shipyard Projects. (a) Initial criteria. We may issue Guarantees to...

  8. Geothermal Money Book [Geothermal Outreach and Project Financing

    Energy Technology Data Exchange (ETDEWEB)

    Elizabeth Battocletti

    2004-02-01

    Small business lending is big business and growing. Loans under $1 million totaled $460 billion in June 2001, up $23 billion from 2000. The number of loans under $100,000 continued to grow at a rapid rate, growing by 10.1%. The dollar value of loans under $100,000 increased 4.4%; those of $100,000-$250,000 by 4.1%; and those between $250,000 and $1 million by 6.4%. But getting a loan can be difficult if a business owner does not know how to find small business-friendly lenders, how to best approach them, and the specific criteria they use to evaluate a loan application. This is where the Geothermal Money Book comes in. Once a business and financing plan and financial proposal are written, the Geothermal Money Book takes the next step, helping small geothermal businesses locate and obtain financing. The Geothermal Money Book will: Explain the specific criteria potential financing sources use to evaluate a proposal for debt financing; Describe the Small Business Administration's (SBA) programs to promote lending to small businesses; List specific small-business friendly lenders for small geothermal businesses, including those which participate in SBA programs; Identify federal and state incentives which are relevant to direct use and small-scale (< 1 megawatt) power generation geothermal projects; and Provide an extensive state directory of financing sources and state financial incentives for the 19 states involved in the GeoPowering the West (GPW). GPW is a U.S. Department of Energy-sponsored activity to dramatically increase the use of geothermal energy in the western United States by promoting environmentally compatible heat and power, along with industrial growth and economic development. The Geothermal Money Book will not: Substitute for financial advice; Overcome the high exploration, development, and financing costs associated with smaller geothermal projects; Remedy the lack of financing for the exploration stage of a geothermal project; or Solve

  9. Marlim project finance; 'Project finance' de Marlim

    Energy Technology Data Exchange (ETDEWEB)

    D' Almeida, Albino Lopes [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2004-07-01

    Project Finance is often used worldwide to raise the funds to develop big projects, particularly in the area of power and infra-structure. It is designed to support a singular project and a specific purpose company is created to obtain the financing. The debt payment is secured by the enterprise's cash flow, avoiding real guarantee requirements. The lenders receive the future revenues and the property of the assets to be built. The risks are mitigated by agreements exhaustively negotiated among the parties. One of the most important Project Finances performed in Brazil is the Marlim Project, structured in order to complete the development of the Marlim oil field. This is the biggest Brazilian oil field, producing more than 500,000 barrels a day, almost 35% of the national production. This paper presents the general concepts related to this type of financing and general information about the project, including its structuring, negotiation and closing. The total commitment reaches US$ 1.5 billion obtained in both domestic and international markets through equity, bridge loan, bonds and commercial papers. Its whole life is 10 years, using 2 special purpose companies in its configuration. (author)

  10. Participation of financial institutions in project financing of infrastructure projects

    Directory of Open Access Journals (Sweden)

    Benković Slađana

    2012-03-01

    Full Text Available Infrastructure investing makes up a significant part of the financial institutions portfolio, and contributes to creating long-term assets cash flows. In addition, infrastructure assets are relatively inelastic in demand and price, and as such the asset has a good performance during the economic downturn. Properly structured infrastructure investments contribute to the diversification of the portfolio, due to the lack of correlation with the yield on bonds, stocks and real estate, and offer good protection against inflation. Applying the concept of project financing involves the application of the most advanced financial techniques and products that are able to ensure only credible international financial institutions and companies. Paper attempts to indicate the presence of financial institutions in project financing of infrastructure, as well as the benefits of this concept in expected to finance infrastructure in Serbia.

  11. Financing Trans-European Energy Infrastructures - Past, Present and Perspectives

    International Nuclear Information System (INIS)

    Hirschhausen, Christian von

    2011-01-01

    The transformation of the European energy system towards a low carbon industry requires substantial investment and financing. According to the Energy Infrastructure Package (EIP), around one trillion euros must be invested in the European energy system until 2020. Out of the euro 200 billion required investment for transmission networks, only half of the capital will be provided by markets. This leaves a financial gap of ca. euro 100 bn. and poses a question on the EU role in financing European energy infrastructures. This policy paper by Christian Von Hirschhausen focuses on the future financing of trans-European energy infrastructures. After providing an overview of the long-term infrastructure needs and of the various instruments that currently exist to finance these infrastructures, the author discusses various aspects related with the planning and financing of cross border energy infrastructures with the help of a case study: the North Sea Grid Project. On the basis of the North Sea example, he highlights the importance of adopting a regulatory approach balancing European and Member States' interests as well as of streamlining and expanding the EU financial support to sustainable energy infrastructures

  12. Financing the energy sector in developing countries: context and overview

    International Nuclear Information System (INIS)

    Dunkerley, Joy.

    1995-01-01

    Traditional 'business as usual' financing methods will no longer be adequate to meet the unprecedented demands for capital to finance energy sector expansion in the developing countries. In recognition, many countries are opening up their power sectors to private investment, initially through the establishment of independent power projects, but in some cases through sector privatization. Project financing has many advantages, but further sectoral reorganization, including tariff reform, will be needed to attract resources on the scale required, especially from domestic investors. In oil and gas, in contrast to power, private capital from the international oil companies has always played a major role in the developing countries. However, sharply increasing investment requirements require a growing role for external finance. There should, in principle, be no shortage of investible funds to finance energy sector expansion in developing countries so long as host countries establish conditions which are attractive to private investors. The augmented role of private finance requires a continuing, if different, role for the public sector in both host countries and official aid agencies. (author)

  13. Case history of MSW-to-energy financings

    International Nuclear Information System (INIS)

    Barrett, D.L.

    1993-01-01

    The development of solid waste treatment facilities is dependent upon the developer having sufficient resources to fund the development of a project and the ability of the project to be financed. The access to capital to develop, construct and operate a facility is the key component of the development process. The author is not diminishing the need for long-term waste agreements, the advantages of a superior technology or the benefit of experience. However, without capital, a project will never be initiated and the other components are immaterial. This paper reviews development financing with a case study of an environmental development company with a new technology and project financing with a comparison of four financings of Waste to Energy (WTE) facilities. Prior to reviewing the financings, the components of a project including the participants, agreements, and cash flows are discussed to establish a foundation for the later discussion. The analysis is not intended to be directly applicable to material recovery and composting facilities, however, many issues are common to all environmental facilities

  14. New nuclear projects: structure, supply chain and financing

    International Nuclear Information System (INIS)

    Keppler, J.H.; Cometto, M.

    2015-01-01

    In 2015 there were 68 reactors being constructed throughout the world and 159 projects were planned. The projects for the construction of nuclear reactors face challenging issues like financing and management. The NEA (Nuclear Energy Agency) has analysed the feedback experience on a sample of reactor projects and of reactors recently commissioned in order to draw lessons on 3 issues: financing, long-term electricity price, and project management including the supply chain. It is already known that technologies requiring high initial capital like nuclear power or renewable energies, are very sensitive to the long-term price of electricity. The study shows that for a debt ratio below 60%, the risk for the investor is low even if the long-term electricity price drops by 30 %. Because of the complexity of the construction of a nuclear power plant there are mainly 3 types of project management: the turnkey project, the split package approach (a relatively low number of suppliers) and the multi-contract approach. The turnkey approach is favoured by the new entrants in the nuclear world. The harmonization of regulations and the convergence of the safety requirements are necessary to build an efficient and competitive supply chain. (A.C.)

  15. Growth and project finance in the least developed countries

    OpenAIRE

    Lisbeth F. la Cour; Jennifer Müller

    2014-01-01

    This article examines the effects of project finance on economic growth in the least developed countries (LDC). Inspired by the neoclassical growth model we set up an econometric model to estimate the effects of project finance for a sample consisting of 38 of the least developed countries using data from the period 1994-2007. The results of our study suggest, that project finance has a significant positive effect on economic growth and therefore constitute an important source of ...

  16. Sovereign cat bonds and infrastructure project financing.

    Science.gov (United States)

    Croson, David; Richter, Andreas

    2003-06-01

    We examine the opportunities for using catastrophe-linked securities (or equivalent forms of nondebt contingent capital) to reduce the total costs of funding infrastructure projects in emerging economies. Our objective is to elaborate on methods to reduce the necessity for unanticipated (emergency) project funding immediately after a natural disaster. We also place the existing explanations of sovereign-level contingent capital into a catastrophic risk management framework. In doing so, we address the following questions. (1) Why might catastrophe-linked securities be useful to a sovereign nation, over and above their usefulness for insurers and reinsurers? (2) Why are such financial instruments ideally suited for protecting infrastructure projects in emerging economies, under third-party sponsorship, from low-probability, high-consequence events that occur as a result of natural disasters? (3) How can the willingness to pay of a sovereign government in an emerging economy (or its external project sponsor), who values timely completion of infrastructure projects, for such instruments be calculated? To supplement our treatment of these questions, we use a multilayer spreadsheet-based model (in Microsoft Excel format) to calculate the overall cost reductions possible through the judicious use of catastrophe-based financial tools. We also report on numerical comparative statics on the value of contingent-capital financing to avoid project disruption based on varying costs of capital, probability and consequences of disasters, the feasibility of strategies for mid-stage project abandonment, and the timing of capital commitments to the infrastructure investment. We use these results to identify high-priority applications of catastrophe-linked securities so that maximal protection can be realized if the total number of catastrophe instruments is initially limited. The article concludes with potential extensions to our model and opportunities for future research.

  17. PROJECT BONDS IN FINANCING PUBLIC-PRIVATE PARTNERSHIPS IN UKRAINE

    Directory of Open Access Journals (Sweden)

    I. Ovsiannykova

    2014-12-01

    Full Text Available The theoretical principles concerning the financing of public private partnership' projects are deepened and practical recommendations for improving the procedure of raising funds for projects of public-private partnerships through the use project bonds are substantiated.

  18. TARGET APPROACH TO PROJECT FINANCING TRANCHES OF INNOVATIONS AND INVESTMENTS

    Directory of Open Access Journals (Sweden)

    Galina G. Balayan

    2015-01-01

    Full Text Available The article concerns the main provisions of the financing tranches for innovative projects. The article is of methodological nature. It gives theoretically justified, universal for any of the project stages and their characteristics needed to calculate efficiency project financing tranches.

  19. Coherent energy and environmental system analysis. A strategic research project financed by The Danish Council for Strategic Research Programme Commission on Sustainable Energy and Environment

    Energy Technology Data Exchange (ETDEWEB)

    Lund, H. (ed.); Hvelplund, F.; Vad Mathiesen, B. (and others)

    2011-11-15

    The main focus of this project has been A) to further develop and integrate existing tools and methodologies of environmental life cycle assessment and energy system and market analysis into coherent energy and environmental analysis tools. B) to apply such integrated tools and methodologies to the analysis of future sustainable energy systems with an emphasis on: 1) how to integrate the transport sector including considerations of limitations in biomass resources; 2) how to develop future power systems suitable for the integration of distributed renewable energy sources; and 3) how to develop efficient public regulation in an international market environment. It is found that the transition from the present energy system dominated by fossil fuels to a system dominated by renewable energy sources requires significant changes in existing policies on both supply and demand sides. In order to succeed, such change requires the system based on renewables to be supported by strong and efficient energy conservation. In Denmark, wind power and biomass are expected to be the two dominant resources in the short and medium term perspectives. In order to ease the pressure on wind and biomass resources, energy conservation becomes essential and so does the inclusion of contributions from additional sources such as solar and geothermal energy. The change requires infrastructure where intermittent renewable energy sources can be managed in such a way that energy is available at the right time and in the right amount for the consumers. A main challenge for the transition planning is to obtain an efficient coordination between investments in the electricity, transportation, and heat sectors. The policy instruments include new systems of taxes, subsidies, tariffs, and other economic conditions in order to obtain an optimal effect. One main problem is to assure an energy-efficient use of low-temperature sources from CHP, waste incineration, industrial surplus heat and geothermal

  20. Project financing in Latin America: The search for greener pastures

    International Nuclear Information System (INIS)

    Stark, R.D.

    1993-01-01

    This paper addresses the basic requisites for inducing private capital to engage in infrastructure project financing. Part 1 of this paper provides an overview of project financing considerations, such as how pricing of project outputs and the credit history of output purchasers can affect the availability of project financing, and explores the use of ''Revolving Funds'' as a stimulus for private investment. Part 2 discusses several areas in which governments can become pro-active participants in establishing a sound framework for project financing of infrastructure. Part 3 briefly addresses project structuring and the contractual risk allocation process which is central to project financing, and highlights some of the key legal arrangements found in project contracts

  1. Financing investments in renewable energy: The role of policy design and restructuring

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.; Pickle, S. [Lawrence Berkeley National Lab., CA (United States). Environmental Energy Technologies Div.

    1997-03-01

    The costs of electric power projects utilizing renewable energy technologies are highly sensitive to financing terms. Consequently, as the electricity industry is restructured and new renewables policies are created, it is important for policymakers to consider the impacts of renewables policy design on project financing. This report describes the power plant financing process and provides insights to policymakers on the important nexus between renewables policy design and finance. A cash-flow model is used to estimate the impact of various financing variables on renewable energy costs. Past and current renewable energy policies are then evaluated to demonstrate the influence of policy design on the financing process and on financing costs. The possible impacts of electricity restructuring on power plant financing are discussed and key design issues are identified for three specific renewable energy programs being considered in the restructuring process: (1) surcharge-funded policies; (2) renewables portfolio standards; and (3) green marketing programs. Finally, several policies that are intended to directly reduce financing costs and barriers are analyzed. The authors find that one of the key reasons that renewables policies are not more effective is that project development and financing processes are frequently ignored or misunderstood when designing and implementing renewable energy incentives. A policy that is carefully designed can reduce renewable energy costs dramatically by providing revenue certainty that will, in turn, reduce financing risk premiums.

  2. Project financing knits parts of costly LNG supply chain

    International Nuclear Information System (INIS)

    Minyard, R.J.; Strode, M.O.

    1997-01-01

    The supply and distribution infrastructure of an LNG project requires project sponsors and LNG buyers to make large, interdependent capital investments. For a grassroots project, substantial investments may be necessary for each link in the supply chain: field development; liquefaction plant and storage; ports and utilities; ships; receiving terminal and related facilities; and end-user facilities such as power stations or a gas distribution network. The huge sums required for these projects make their finance ability critical to implementation. Lenders have become increasingly comfortable with LNG as a business and now have achieved a better understanding of the risks associated with it. Raising debt financing for many future LNG projects, however, will present new and increasingly difficult challenges. The challenge of financing these projects will be formidable: political instability, economic uncertainty, and local currency volatility will have to be recognized and mitigated. Described here is the evolution of financing LNG projects, including the Rasgas LNG project financing which broke new ground in this area. The challenges that lie ahead for sponsors seeking to finance future projects selling LNG to emerging markets are also discussed. And the views of leading experts from the field of project finance, specifically solicited for this article, address major issues that must be resolved for successful financing of these projects

  3. New model. Local financing for local energy

    International Nuclear Information System (INIS)

    Detroy, Florent

    2015-01-01

    While evoking the case of the VMH Energies company in the Poitou-Charentes region, and indicating the difference between France and Germany in terms of wind and photovoltaic energy production potential, of number of existing local companies, and of citizen-based funding, this article shows that renewable energies could put the energy production financing in France into question again, with a more important participation of local communities and of their inhabitants. The author describes how the law on energy transition makes this possible, notably with the strengthening of citizen participation. The author evokes some French local experiments and the case of Germany where this participation is already very much developed

  4. Clean energy deployment: addressing financing cost

    International Nuclear Information System (INIS)

    Ameli, Nadia; Kammen, Daniel M

    2012-01-01

    New methods are needed to accelerate clean energy policy adoption. To that end, this study proposes an innovative financing scheme for renewable and energy efficiency deployment. Financing barriers represent a notable obstacle for energy improvements and this is particularly the case for low income households. Implementing a policy such as PACE—property assessed clean energy—allows for the provision of upfront funds for residential property owners to install electric and thermal solar systems and make energy efficiency improvements to their buildings. This paper will inform the design of better policies tailored to the creation of the appropriate conditions for such investments to occur, especially in those countries where most of the population belongs to the low–middle income range facing financial constraints. (letter)

  5. Clean energy deployment: addressing financing cost

    Science.gov (United States)

    Ameli, Nadia; Kammen, Daniel M.

    2012-09-01

    New methods are needed to accelerate clean energy policy adoption. To that end, this study proposes an innovative financing scheme for renewable and energy efficiency deployment. Financing barriers represent a notable obstacle for energy improvements and this is particularly the case for low income households. Implementing a policy such as PACE—property assessed clean energy—allows for the provision of upfront funds for residential property owners to install electric and thermal solar systems and make energy efficiency improvements to their buildings. This paper will inform the design of better policies tailored to the creation of the appropriate conditions for such investments to occur, especially in those countries where most of the population belongs to the low-middle income range facing financial constraints.

  6. Research on the Renewable Energy Industry Financing Efficiency Assessment and Mode Selection

    Directory of Open Access Journals (Sweden)

    Xiaohuan Lyu

    2018-01-01

    Full Text Available In recent years, environmental issues are attracting widespread attention by various countries around the world. In this context, the renewable energy industry has become a stimulus point for economic development and has great potential for development. Renewable energy industry financing is difficult due to its characteristics of high risk and long-term investment returns, and relying on existing financing channels make it present a glut of excess capacity. It is key to realize resource optimal allocation, solve overcapacity phenomenon and select the valid financing mode. This paper used Bloomberg New Energy Finance (BNEF data and the data envelopment analysis (DEA method to analyze the financing efficiency different parts of the global renewable energy industry and different ways of financing. It could be found that although the financing efficiency showed a trend of increasing year by year, the financing efficiency of each industry presented generally weak DEA efficiency, the comprehensive financing efficiency of wind power industry was higher. The article also found that the financing efficiency of project financing and Research and Development (R&D were relatively high, and the equity market and venture capital and private equity were less efficient. The results of this paper play an important role in the overall financing status cognizance of the renewable energy industry and give suggestions about valid financing mode choice.

  7. How to finance energy transition? Elements of analysis for a strategic approach

    International Nuclear Information System (INIS)

    Ruedinger, Andreas

    2015-01-01

    If regulatory and economic signals are the first determining factors for the launching of energy transition projects, financing tools are a major stake. But financing these projects is also facing two complementary challenges: the mobilisation of additional capital resources to face the needs, and the re-orientation of a part of this financing towards more efficient projects. In order to asses the consistency of financing tools, this study identifies three determining financing stakes: an inter-mediation with capital markets to mobilise capitals at low cost, a calibration of project financing mechanisms to meet the needs of the different actors and sectors and to limit transaction costs, and a better articulation between financial tools and regulatory tools. The authors thus propose an integrated approach to the stakes of transition financing

  8. Havsnaes wind farm - The project financing of a Swedish wind farm

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-07-01

    In March 2008 the ground breaking project financing of the 95 MW Havsnaes wind farm was completed. Havsnaes represents one of the cornerstones in portfolio of Venus Vind, controlled by HgCapital, where sustainable Scandinavian strength is build through industrial scale wind farms with local presence. At the time, Havsnaes represented the largest energy project financing in the market, it is also the first true project financing of a major Swedish wind farm. The aim of this study is to highlight the process of project financing and additional lessons learnt from the Havsnaes transaction. Investment in renewable energy projects often includes international investors. We welcome the growing Swedish wind market, banks and other financial institutions, politicians and other relevant decision makers to take part of our findings. Sponsorship provided by the Swedish Energy Agency has enabled the completion of this study.

  9. On the Sequencing of Projects, Reputation Building and Relationship Finance

    NARCIS (Netherlands)

    Egli, D.; Ongena, S.; Smith, D.C.

    2001-01-01

    We study the decision entrepreneurs face in financing multiple and independent projects.If strategic defaults are assessed likely to occur, for example if judicial efficiency is low, entrepreneurs delay projects to seek sequential financing from a relationship lender.Such commitment-type borrowing

  10. Conference on 'How to finance wind energy?'

    International Nuclear Information System (INIS)

    Metzler, Vincent; Weiler, Sibylle; Mous, Dirk; Hodges, Charlie; Talagrand, Romain; Soerensen, Hans Chr.; Feddersen, Hans; Dosdall, Bjoern; Jourdain, Pierre; Duval, Jocelyn

    2010-01-01

    The French-German office for Renewable energies (OFAEnR) organised a conference on wind energy financing. In the framework of this French-German exchange of experience, more than 150 participants exchanged views on the existing financing solutions for wind energy projects in France, Germany, UK and Denmark. This document brings together the available presentations (slides) made during this event: 1 - How to go on with wind energy projects financing? What evolution of the senior wind energy debt? (Vincent Metzler); 2 - Financing of wind energy projects - Legal aspects (Sibylle Weiler); 3 - Current and future trends in offshore wind financing in Germany (Dirk Mous); 4 - Financing offshore wind: a UK perspective (Charlie Hodges); 5 - Financing the UK Offshore Wind Sector - Transverse analysis of French and European Offshore Wind energy financing (Romain Talagrand); 6 - Cooperative ownership of Danish Wind Turbines (Hans Chr. Soerensen); 7 - Development and financing of a citizen's wind farm - Buergerwindpark (Hans Feddersen); 8 - Citizens' wind farms in Germany - as seen by a project developer (Bjoern Dosdall); 9 - Wind turbines in Vilaine region - A cooperative and pedagogical wind farm: a unique experience in France (Pierre Jourdain); 10 - Status of French participative models (Jocelyn Duval)

  11. Project finance risks - getting it right first time

    International Nuclear Information System (INIS)

    Bain, F.

    1996-01-01

    Bankers seeking to invest in the construction of new power stations by independent power producers, face greater risks than those lending to companies. Independent risk and insurance advisers are used to assess project risk. ''Project finance'' has become increasingly popular as it allows projects to go ahead that could not be supported from sponsors' own resources. In addition, project finance means that various equity partners can join together in a joint venture company and limit their individual risk. Project finance can be delayed by differences between the needs of sponsors, financiers and insurers. The process can be speeded up by foreknowledge of bankers' requirements. (UK)

  12. Innovative financing for energy-efficiency improvements. Phase I report

    Energy Technology Data Exchange (ETDEWEB)

    Klepper, M.; Schwartz, H.K.; Feder, J.M.; Smith, D.C.; Green, R.H.; Williams, J.; Sherman, J.L.; Carroll, M.

    1982-01-01

    The use of utility-assisted financing, tax-exempt financing, bank financing, leasing, and joint venture financing to promote energy efficiency investments for each of three different categories of buildings (multifamily, commercial, and industrial) is discussed in separate chapters. (MCW)

  13. Growth and Project Finance in the Least Developed Countries

    DEFF Research Database (Denmark)

    la Cour, Lisbeth F.; Müller, Jennifer

    2014-01-01

    for economic growth in LDCs. We find that a higher regulatory quality, lower government consumption and a higher level of education helps increase growth. The significance of these variables are, however, not as consistently robust as the results for project finance.......This article examines the effects of project finance on economic growth in the least developed countries (LDC). Inspired by the neoclassical growth model we set up an econometric model to estimate the effects of project finance for a sample consisting of 38 of the least developed countries using...... data from the period 1994-2007. The results of our study suggest, that project finance has a significant positive effect on economic growth and therefore constitute an important source of financing in the selected set of countries. Additionally, the project sheds light on other factors of importance...

  14. Financing arrangements for nuclear power projects in developing countries

    International Nuclear Information System (INIS)

    1993-01-01

    This reference book reviews the main features and problems or difficulties involved in the financing of nuclear power projects with special reference to developing countries. It provides basic information and advice to developing countries interested in nuclear power projects as part of their power sector planning. The book outlines the general characteristics of financing a nuclear power project and presents innovative approaches for power generation financing. It discusses the special conditions and requirements of nuclear power projects and their financing complexities. The focus is on the practical issues that need to be dealt with in order to successfully finance these power projects, as well as the constraints faced by most developing countries. Possible ways and means of dealing with these constraints are presented. 58 refs, figs and tabs

  15. Can we Finance the Energy Transition?

    Directory of Open Access Journals (Sweden)

    Ian Johnson

    2015-05-01

    Full Text Available The energy sector is pivotal to our aspirations for a sustainable planet and yet two major challenges face policymakers worldwide. The first is to decide what set of technical choices provide the best solution to meet social, economic and environmental agendas; and the second is to decide how these choices can be financed. The bulk of new energy demand will come from the emerging economies where energy demand is expected to increase by 40% over the coming three decades and to have doubled by the middle of the century. However for a number of reasons the investment needs of the energy sector are likely to rise even faster than overall energy demand. This is due to a number of factors over and above the increase in demand and described in the paper, including, inter alia, subsidized prices; the substitution of traditional energy for modern energy; the growth in peak demand in the electricity sector; the rising costs of securing primary energy resources; and the urgent need to replace vintage capital stock (including the decommissioning of nuclear power plants, especially in the developed countries. Clean energy investment will also incur high upfront investment costs in order to reduce long-term recurrent costs (fuel and maintenance. High priority must be given to energy demand management (both to reduce energy use and to reduce energy capital and investment in upgrading of existing capital stock can provide strong and quick returns. However, the net result of the long-term demand on the energy sector is that investment needs will grow dramatically, from around US $1.6 trillion per annum to over US $2 trillion per annum. The financial challenge is considerable. A level playing field is required that encourages greater competition of technology choice on the basis of correct pricing signals. It will require changes in subsidy policies in order to release finance and to encourage efficient investment; adherence to least-cost planning and investment

  16. The Analysis of Project Finance: a Case Study of Kazakhstan Caspian Transportation System Project

    OpenAIRE

    Serikbayeva, Aigul

    2011-01-01

    Although project finance is a large and fast growing field in finance, there has been very little academic research in that area. The main reason for this deficit is that it is a relatively new sphere in finance and it is difficult to access the information about the implementation of projects from the companies that implement them. This project will provide an overview of how companies finance large infrastructure projects through a case study of the Kazakhstan Caspian Transportation System ...

  17. Project finance in Campos Basin; O 'Project Finance' na auto-suficiencia

    Energy Technology Data Exchange (ETDEWEB)

    D' Almeida, Albino Lopes; Mendonca, Roberto Wagner [PETROBRAS, Rio de Janeiro, RJ (Brazil)

    2008-07-01

    The present conquest of the self-sufficiency is a result of 3 decades of investments that started with the discovery of the well 1-RJS-9A in 1974. The second leap was the discovery of giant fields in the 1980 including Marlim (1984) and Albacora (1985) among others. This first two conquests were basically technical and were recognized by the OTC in 1991 and 2000. The third leap was the utilization of project finance structures. We examine the role of project finance in the main projects developed by the PETROBRAS E and P - Exploration and Production - segment in the Campos Basin region. These projects allowed PB to invest more than US$ 6 billion dollars in a five year interval increasing production in 12 oil fields by 75% in a 7 years interval which later enabled PB to be self-sufficient in oil production. The financial structures of Albacora, Barracuda, EVM and Marlim are shown and discussed in various aspects which including structure, schedule, conditionalities, warranties, management of the SPEs and relationship with international agencies. Considering the present quest of developing Tupi and Jupiter which might represent investments around US$ 80 billion and it's impacts to the PETROBRAS capital structure and risk this might be a useful discussion. (author)

  18. Financing of nuclear power projects in developing countries

    International Nuclear Information System (INIS)

    1991-06-01

    This document is a summary of the ''Topical Seminar on Financing of Nuclear Power Projects in Developing Countries, held in Jakarta between 4-7 September, 1990. The seminar presentations were divided into the following sessions: Keynote session (3 papers), Perspective of Nuclear and Fossil-fired Generation Costs (9 papers), Assessment of Problems and Constraints for the Financing of Large Power Projects, with particular Attention to Nuclear Power Projects (9 papers), Mechanisms for Financing Nuclear Power Projects in Developing Countries (11 papers). A separate abstract was prepared for each of these papers. Refs, figs, tabs and charts

  19. PROJECT FINANCE AS A TOOL FOR THE IMPLEMENTATION OF INVESTMENT PROJECTS

    Directory of Open Access Journals (Sweden)

    U. V. Vsyakih

    2015-02-01

    Full Text Available The article discusses the reasons for the insufficient use of project financing in the Russian Federation, the brief historical background for the project financing in Russia, as well as the main principles, types and stages of project financing. For results was used theoretical methods associated with the study of general and specialized literature, as well as methods of analysis and synthesis.

  20. Can Maine metropolitan planning organizations (MPOs) finance transportation projects through bond financing?

    Science.gov (United States)

    2008-12-01

    In January 2008 the Maine metropolitan planning organizations (MPOs) requested the Transportation : Research Division of the Maine Department of Transportation to conduct research to determine if it is : possible for MPOs to finance projects through ...

  1. Financing considerations for international coalbed methane projects - a case history

    International Nuclear Information System (INIS)

    Mize, J.S.

    1990-01-01

    This presentation on financing of international, coalbed methane fueled Cogen projects is intended to provide the reader with some insight into the key steps and issues involved in financing an outside-the-USA project. No claim is made as to whether the strategy employed for the China projects will be suitable for other projects. The presentation is made from the perspective of an entrepreneur seeking a workable financial structure to address the concerns of risk, return, technology transfer to a third world country, and stage-wise development from prefeasibility assessment through complete resource development and gas utilization. The China projects referred to in this paper are not yet fully financed. Final project approvals for financing awaiting a request by the USA group for China to confirm that their 50% funding is available, and that initial funds have been transferred to the USA group's bank account

  2. The term structure of credit spreads in project finance

    OpenAIRE

    Marco Sorge; Blaise Gadanecz

    2004-01-01

    This paper finds that the term structure of credit spreads in project finance is hump-shaped. This contrasts with other types of debt, where credit risk is shown instead to increase monotonically with maturity ceteris paribus. We emphasize a number of peculiar features of project finance structures that might underlie this finding, such as high leverage decreasing over time, long-term political risk guarantees and the sequential resolution of uncertainty along project advancement stages. Our ...

  3. Lessons from a European study[Financing Renewable Energy Systems

    Energy Technology Data Exchange (ETDEWEB)

    Langniss, Ole [German Aerospace Center, Stuttgart (Germany); Helby, Peter [Lund Univ. (Sweden). Dept. of Environmental and Energy System Studies

    2000-10-01

    A large number of proven technical solutions exists for the use of renewable energies (RE). However, their dissemination is still too slow to meet the political goal of substituting 12 % of the primary energy demand in the European Union by the year 2010. Even renewable energy systems (RES) with economic potential are only partly exploited. There is a long literature concerning the barriers to RE use. In particular it has become clear that the availability of finance and the forms and conditions upon which it is lent have a major impact on RE deployment. An area of importance is the deficiency of appropriate ownership forms and properly adapted financing instruments in certain countries. Moreover, different regulations and institutional barriers in the European countries hinder the free flow of capital for RES within the European common market. On the other hand, solutions have been developed very successfully in individual countries. Differences in cultures and institutions have promoted growth of several approaches to RE investment. These differences can be understood as a European source of experience that constitutes a rich basis for transnational emulation. The research project FIRE analysed and compared the means of financing RES in Austria, Denmark, Germany, Italy, the Netherlands, Spain, Sweden and the United Kingdom to put forward best practise recommendations so that RE deployments will occur at a faster rate. Main tasks of this study were to analyse the means of financing RES in a number of countries; to provide an analysis of best practise; and to provide an analysis of the barriers to the implementation in the investigated countries. Different means of financing RES were analysed in relation to the country-specific environment. This included exogenous conditions such as tax aspects, legal restrictions and subsidies, as well as individually defined risk management strategies and collateral requirements. Eight in-depth-case studies were undertaken for

  4. Bankability and Debt Financing for Solar Projects in India

    Energy Technology Data Exchange (ETDEWEB)

    None

    2013-02-15

    This report looks at debt financing for solar projects in India from two perspectives: the lender’s point of view and the borrower’s point of view. The lender’s point of view addresses the bankability of solar projects in India by covering all the risks and their respective mitigation strategies. The goal is to help the developer’s understand the steps they need to take to increase their chances of receiving non-recourse financing. From the borrower’s point of view the report covers how the project finances can be structured in an optimum manner. Details are covered on how bridge financing can be used to solve liquidity issues. Also, various sources of financing have been discussed in detail.

  5. Opinion presented on the behalf of the Commission for economic affairs on the finance bill project for 2018 (nr 235). Volume VII - Ecology, sustainable development and mobility, energy - Nr 264 corrected

    International Nuclear Information System (INIS)

    Bolo, Philippe

    2017-01-01

    In its first part, this parliamentary report proposes an analysis of budgets allocated to some specific programmes related to ecology, sustainable development and mobility, and energy within the finance bill project for 2018. A first programme (nr 174) addresses issues related to energy, climate, and after-mines: increased credits for energy, decreased credits to manage the after-mines situation, increased credits for air quality and for the struggle against climate change, tax expenses. A second set of programmes (nr 345, 764 and 765) concerns the energy public service and energy transition. The third set of programmes (nr 793 and 794) deals with the financing of supports to communities for rural electrification. The second part of the report analyses various aspects of the digitalisation of the energy sector. It discusses its main stakes: a better knowledge of productions and consumptions, an increased efficiency of infrastructures and energy-related services, a need to secure infrastructures and data, a high potential for employment and increasing needs for specific abilities, and critical issue of a possible 'uberisation' of the energy sector. It also analyses perspectives and formulates some proposals regarding data security, support to economic actors, and some specific points of attention (to avoid differences between territories, some negative aspects of digitalisation). Contents of commission debates are provided as well as a list of hearings

  6. Sources of project financing in health care systems.

    Science.gov (United States)

    Smith, D G; Wheeler, J R; Rivenson, H L; Reiter, K L

    2000-01-01

    Through discussions with chief financial officers of leading health care systems, insights are offered on preferences for project financing and development efforts. Data from these same systems provide at least anecdotal evidence in support of pecking-order theory.

  7. Application of finance project for leverage of small size hydroelectric enterprising; Aplicacao do project finance para alavancagem de empreendimentos hidreletricos de pequeno porte

    Energy Technology Data Exchange (ETDEWEB)

    Santos, Silvana dos

    2003-07-01

    In the same way that the majority of the countries, project financing of substructure in Brazil, in project finance modality, depend on a skillful structure of guaranties and contracts to become possible. In the case of projects of centrals of generation of electrical energy, that financial engineering becomes still more complicated. In Brazil, due to particularities of the sectors of electricity, the arrangements of guaranties requested but creditors pass to present levels of complexity and exigency well elevated. The contractual appliances that give support to the project finance, originally projected to developed countries, request an extreme adaptation to these particularities. The development of Brazil is directly related to its capacity in expanding the offer of electric energy in the just measure of the national necessity. In this context, the small central hydroelectric (PCH's) represent, actually, an efficient and fast form to complete the offer of energy in such a way to supply the crescent demand the national market. For its characteristics, that type of undertaking can be developed by small manager, from among which are the owners of the areas in which on can find these hydraulic potentials which, however they do not dispose of capital to integral raising. These undertakings are tasks, normally, of low global cost, at the rate of US$ 1.000,00/k W, and of a smaller ambient impact, compared to the return that they give to the enterprise and to the Brazilian electric system as a whole, by having to receive special attention in the planned politics to the sector and to merit a series of incentives to become business still more attractive. By thinking in the found difficulty by small enterprises in rising undertakings of generation of electric energy of small port through the convectional mechanisms of financing is being proposed in that work a well-founded methodology in the concepts of the modality of financing project finance. (author)

  8. Application of finance project for leverage of small size hydroelectric enterprising; Aplicacao do project finance para alavancagem de empreendimentos hidreletricos de pequeno porte

    Energy Technology Data Exchange (ETDEWEB)

    Santos, Silvana dos

    2003-07-01

    In the same way that the majority of the countries, project financing of substructure in Brazil, in project finance modality, depend on a skillful structure of guaranties and contracts to become possible. In the case of projects of centrals of generation of electrical energy, that financial engineering becomes still more complicated. In Brazil, due to particularities of the sectors of electricity, the arrangements of guaranties requested but creditors pass to present levels of complexity and exigency well elevated. The contractual appliances that give support to the project finance, originally projected to developed countries, request an extreme adaptation to these particularities. The development of Brazil is directly related to its capacity in expanding the offer of electric energy in the just measure of the national necessity. In this context, the small central hydroelectric (PCH's) represent, actually, an efficient and fast form to complete the offer of energy in such a way to supply the crescent demand the national market. For its characteristics, that type of undertaking can be developed by small manager, from among which are the owners of the areas in which on can find these hydraulic potentials which, however they do not dispose of capital to integral raising. These undertakings are tasks, normally, of low global cost, at the rate of US$ 1.000,00/k W, and of a smaller ambient impact, compared to the return that they give to the enterprise and to the Brazilian electric system as a whole, by having to receive special attention in the planned politics to the sector and to merit a series of incentives to become business still more attractive. By thinking in the found difficulty by small enterprises in rising undertakings of generation of electric energy of small port through the convectional mechanisms of financing is being proposed in that work a well-founded methodology in the concepts of the modality of financing project finance. (author)

  9. Community Wind: Once Again Pushing the Envelope of Project Finance

    Energy Technology Data Exchange (ETDEWEB)

    bolinger, Mark A.

    2011-01-18

    In the United States, the 'community wind' sector - loosely defined here as consisting of relatively small utility-scale wind power projects that sell power on the wholesale market and that are developed and owned primarily by local investors - has historically served as a 'test bed' or 'proving grounds' for up-and-coming wind turbine manufacturers that are trying to break into the U.S. wind power market. For example, community wind projects - and primarily those located in the state of Minnesota - have deployed the first U.S. installations of wind turbines from Suzlon (in 2003), DeWind (2008), Americas Wind Energy (2008) and later Emergya Wind Technologies (2010), Goldwind (2009), AAER/Pioneer (2009), Nordic Windpower (2010), Unison (2010), and Alstom (2011). Thus far, one of these turbine manufacturers - Suzlon - has subsequently achieved some success in the broader U.S. wind market as well. Just as it has provided a proving grounds for new turbines, so too has the community wind sector served as a laboratory for experimentation with innovative new financing structures. For example, a variation of one of the most common financing arrangements in the U.S. wind market today - the special allocation partnership flip structure (see Figure 1 in Section 2.1) - was first developed by community wind projects in Minnesota more than a decade ago (and is therefore sometimes referred to as the 'Minnesota flip' model) before being adopted by the broader wind market. More recently, a handful of community wind projects built over the past year have been financed via new and creative structures that push the envelope of wind project finance in the U.S. - in many cases, moving beyond the now-standard partnership flip structures involving strategic tax equity investors. These include: (1) a 4.5 MW project in Maine that combines low-cost government debt with local tax equity, (2) a 25.3 MW project in Minnesota using a sale/leaseback structure

  10. Structuring and financing power projects in Asia

    International Nuclear Information System (INIS)

    Tay, Paul

    1993-01-01

    The contractual arrangements for the financing and construction of three 660 MW coal fired power plants in Hong Kong are summarized in the form of headings and a diagram. These cover the joint venture arrangement, construction and equipment supply, the operation and offtake contract, coal supply and the financial structure with respect to commercial risk. (UK)

  11. Management and financing of e-Government projects in India: Does financing strategy add value?

    Directory of Open Access Journals (Sweden)

    Shashank Ojha

    2017-06-01

    Full Text Available How do managers structure e-government projects and address challenges of risks, lack of technical expertise, and mitigation of strategic error for preventing loss of investments? Our aim was to compare the traditional finance approach and the strategy-driven, innovative financing approaches under the PPP model, to examine their managerial value-addition. We found that e-government projects require a carefully crafted structuring strategy and that innovative financing is more suitable in facilitating flexible decision making, building core capabilities, managing and sharing project risks, providing funds needed for growth and innovation, and customising tailor-made project governance strategy. Based on our findings, we develop five theoretical propositions.

  12. Approaches for the financing of renewable energy in Europe

    International Nuclear Information System (INIS)

    Schwer, P.; Kornmann-Wimmer, K.

    2007-06-01

    This report for the Swiss Federal Office of Energy (SFOE) examines financing instruments that are already available in selected European countries and which could also be adapted for use in Switzerland, too. The study is limited to European countries that are comparable with Switzerland in terms of size, geography and gross national product. Further limitations are investment volumes of under 20 million Euro/project and the consideration of only those technologies concerned with the production of electrical power. Thus, the report considers biogas, solar, geothermal and small-hydro technologies in France, Austria, Denmark, Germany, Italy, Norway, Belgium and Switzerland. External and internal financing is considered as well as mezzanine capital. Varying taxation in the various countries is looked at as is the contracting/leasing situation and subsidies available for renewable energy projects. Risk management is discussed. Finally, the transferability of the various financing instruments to Switzerland is examined. Suggestions are made on how small and medium-sized enterprises can be supported in an active and growing Swiss market

  13. Finance and supply management project execution plan; TOPICAL

    International Nuclear Information System (INIS)

    BENNION, S.I.

    1999-01-01

    As a subproject of the HANDI 2000 project, the Finance and Supply Management system is intended to serve FDH and Project Hanford major subcontractor with financial processes including general ledger, project costing, budgeting, and accounts payable, and supply management process including purchasing, inventory and contracts management. Currently these functions are performed with numerous legacy information systems and suboptimized processes

  14. Power project financing in the People's Republic of China

    International Nuclear Information System (INIS)

    Gomm, R.

    1998-01-01

    The current state of financing and security issues which in the past have constrained the amount of foreign investment and project financing in the electric power market in the Peoples Republic of China (PRC) are reviewed. Past impediments to foreign investment and financing of power projects revolved around the rate of return on investment, the difficulties of obtaining project approvals, conflict of interest issues wherein the Chinese power bureau could act in its interest as a contracted party rather than for the joint venture as an equity investor, and currency convertibility. Recent developments such as the new security law, the new electricity law, and new project financing regulations represent major improvements, but foreign investment and financing is still much less than originally anticipated, the potential of the PRC power market for foreign investments notwithstanding. (For example, in 1997, 13,500 MW of new generation capacity was added to the Chinese grid system. This increased the total installed capacity to 250,000 MW, making China the second largest installed capacity in the world.) Recent trends in the market and the likely future of foreign investment in the PRC are also discussed, the conclusion being that although the size of the IPP and project finance market in China is probably smaller than originally hoped, a sufficient proportion of new generation capacity has been allocated to foreign investors to ensure a steady stream of investment opportunities

  15. Opinion presented on the behalf of the Commission for economic affairs on the finance bill project for 2017 (nr 4061). Nr 4127, Volume V: ecology, sustainable development and mobility, energy

    International Nuclear Information System (INIS)

    Santais, Beatrice

    2016-01-01

    In its first part, this report comments budgets awarded to energy in the finance bill project for 2017 in two programs which respectively concern the implementation of the energy policy in France, the economic and social management of the post-mining era, the struggle against climate change, and the evolution of tax-related expenses for the first one, and the solidarity with areas which are not connected to the metropolitan grid, the protection of users in situation of energy poverty, the support to co-generation, and the energy mediator for the second one. The second part of the report discusses the issue of the future of self-consumption (collective self-consumption today and tomorrow, potential assets of collective self-consumption), outlines the need for a regulation to avoid abuses (risks related to an uncontrolled development of self-consumption, emergence of a legal and regulatory framework), and outlines the importance of setting a steady and virtuous framework

  16. Financing of nuclear projects. Lessons from a recent experience

    International Nuclear Information System (INIS)

    Shubert, U.

    2004-01-01

    The advantages of mandating BNP Paribas as a lead bank and arranger for NPP Belene are presented. BNPP has an excellent record and credentials in Nuclear Power Plant Projects internationally and in the local energy sector and very recent experience as a lead bank for the fifth nuclear power plant in Finland. BNPP has a proven track record as Provider of rapid and efficient ECA financing in terms of: managing in parallel the number of ECA contractual relations, so as to provide 'matching opportunities' between the ECAs and leverage to improve their terms and conditions, and to harmonize them in one set of unified legal documentation. There is no cost to the Government of Bulgaria until the signing of the Facility Documentation

  17. Windpower project ownership and financing: The cost impacts of alternative development structures

    Energy Technology Data Exchange (ETDEWEB)

    Wiser, R.H. [Lawrence Berkeley National Lab., CA (United States)

    1997-12-31

    This paper uses traditional financial cash-flow techniques to examine the impact of different ownership and financing structures on the cost of wind energy. While most large-scale wind projects are constructed, operated, and financed by non-utility generators (NUGs) via project financing, investor- and publicly-owned utilities have expressed interest in owning and financing their own facilities rather than purchasing wind energy from independent generators. A primary justification for utility ownership is that, because of financing and tax benefits, windpower may be cheaper when developed in this fashion. The results presented in this paper support that justification, though some of the estimated cost savings associated with utility ownership are found to be a result of shortcomings in utility analysis procedures and implicit risk shifting. This paper also discusses the comparative value of the federal production tax credit and renewable energy production incentive; estimates the financing premium paid by NUG wind owners compared to traditional gas-fired generation facilities; and explores the impact of electricity restructuring on financing.

  18. Project finance: a type of financing applied to wind CearÃ

    OpenAIRE

    Allisson David de Oliveira Martins

    2010-01-01

    Este trabalho enfatiza a importÃncia da energia eÃlica e demonstra o potencial eÃlico tecnicamente aproveitÃvel no Estado do CearÃ. Investiga-se especificamente a modalidade de financiamento Project Finance, atravÃs de suas definiÃÃes, riscos, vantagens e desvantagens como uma alternativa de crÃdito de longo prazo capaz de viabilizar novos projetos relacionados à diversificaÃÃo da matriz energÃtica brasileira. A estrutura do Project Finance à estudada para projetos eÃlicos no Cearà onde...

  19. Financing renewable energies through MicroCredit

    International Nuclear Information System (INIS)

    Wimmer, N.

    1999-01-01

    The environment, which led to the creation of the Grameen Bank was: no access to credit for the poor in rural Bangladesh. The environment, which led to the creation of Grameen Shakti was: no access to electricity and renewable energies. Through the experience of Grameen, we see the poor differently: they are good business partners, open to modern technology, they can and must be integrated into the economy. Microcredit not only creates purchasing. Power, but acceptance of new ideas and technologies. Microcredit is a catalyst for change. Our challenge is to create an environment which allows change to take place. To create an environment which finances sustainable development. Sustainable development is everybody's business. (orig./RHM)

  20. Financing renewable energies through MicroCredit

    Energy Technology Data Exchange (ETDEWEB)

    Wimmer, N. [Terra One World Network, Vaterstetten (Germany)

    1999-07-01

    The environment, which led to the creation of the Grameen Bank was: no access to credit for the poor in rural Bangladesh. The environment, which led to the creation of Grameen Shakti was: no access to electricity and renewable energies. Through the experience of Grameen, we see the poor differently: they are good business partners, open to modern technology, they can and must be integrated into the economy. Microcredit not only creates purchasing. Power, but acceptance of new ideas and technologies. Microcredit is a catalyst for change. Our challenge is to create an environment which allows change to take place. To create an environment which finances sustainable development. Sustainable development is everybody's business. (orig./RHM)

  1. PV Project Finance in the United States, 2016

    Energy Technology Data Exchange (ETDEWEB)

    Feldman, David; Lowder, Travis; Schwabe, Paul

    2016-09-01

    This brief is a compilation of data points and market insights that reflect the state of the project finance market for solar photovoltaic (PV) assets in the United States as of the third quarter of 2016. This information can generally be used as a simplified benchmark of the costs associated with securing financing for solar PV as well as the cost of the financing itself (i.e., the cost of capital). Three sources of capital are considered -- tax equity, sponsor equity, and debt -- across three segments of the PV marketplace.

  2. Financing energy development in the 1990s

    International Nuclear Information System (INIS)

    Pollio, G.

    1993-01-01

    Energy finance has resurfaced as a major issue in energy and energy policy debates. These concerns arise from the recent dismal performance of the private oil industry, and the growing financial demands of the former Soviet Union and other emerging markets. These growing financial imbalances are seen as jeopardizing the continued smooth growth of the world's petroleum industry. However, this paper stresses that the financial difficulties being experienced by publicly held oil companies are due, primarily, to the current economic recession. As economic growth recovers, and owing to recent substantial cost reductions, the balance sheets of the private oil industry will improve. Among state energy companies, recent structural and financial reforms mean that such companies will be able to retain more cash flow than was true historically. Moreover, many national oil companies are again able to access funds on international financial markets and generally at increasingly attractive spreads. And finally, there is the growing importance of financial innovation that is already having a positive impact on the level and pace of petroleum development worldwide. (author)

  3. The role of the Industrial Bank of Japan in financing gas projects

    International Nuclear Information System (INIS)

    Kajiwara, Yasushi

    1991-01-01

    This paper concerns liquefied natural gas projects, or LNG projects for short, and more specifically, how the Industrial Bank of Japan, IBJ, as a private bank has been involved in many projects, and how the bank has solved a range of problems encountered in the process of financing such projects. After that, the author's personal views are expressed on how to tackle the future development of LNG, an energy source that will become increasingly important in the future

  4. Mobilizing private finance to drive an energy industrial revolution

    International Nuclear Information System (INIS)

    Mathews, John A.; Kidney, Sean; Mallon, Karl; Hughes, Mark

    2010-01-01

    While uptake of renewable energies as a solution to climate change is widely discussed, the issue of public vs. private financing is not yet adequately explored. The debates over the Kyoto Protocol and its successor, culminating in the COP15 Climate Change Conference in Copenhagen in December 2009, maintained a strong preference for public over private financing. Yet it is also clear to most observers that the energy revolution will never happen without the involvement of private finance to drive private investment. In this Viewpoint, we discuss the ways in which private financing could be mobilized to drive the energy industrial revolution that is needed if climate change mitigation is to succeed.

  5. Financing renewable energy in developing countries. Drivers and barriers for private finance in sub-Saharan Africa

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-02-15

    The focus of this report is to identify and portray current barriers to the scaling up of private investment and finance for electricity generation from renewable energy sources in the sub-Saharan region. Best practice in tackling these barriers is identified, partly from a literature review but especially from the results of a survey conducted among 36 financial institutions that are UNEP Finance Initiative members and two non-member banks (all survey respondents have experience in the field of energy infrastructure finance). Promising avenues in the areas of local policy reform, incentive mechanisms and international de-risking instruments are highlighted. In particular, this report addresses the following questions: (a) Why are sub-Saharan Africa and developing countries elsewhere failing to expand electricity generation from renewable sources? What are the barriers to such expansion? What is keeping the risk-return profile of renewable energy investments in sub-Saharan Africa unattractive and projects commercially unviable?; (b) What have been the experiences of private sector lenders and investors in the area of renewable energy projects in developing countries? What barriers and drivers have they encountered, and how can these experiences be of use in sub-Saharan Africa?; (c) What can be learned from the modest but encouraging successes of a few sub-Saharan African countries? Can these results be replicated? What was done in these countries to improve the risk-return profile of renewable energy and unlock private finance?.

  6. Structure of financing investments in the energy sector

    Directory of Open Access Journals (Sweden)

    Kowal Barbara

    2017-01-01

    The article shows how the financing structure of the companies from the fuel and energy sector, listed on the Warsaw Stock Exchange, has evolved over the years. The authors also estimated the cost of equity. The results were compared with the chosen mining companies in Poland. Companies from the energy sector have lower investment risk than companies from the fuel sector. Looking at the profitability of investments it should be emphasized that the financing by outside capital is more advantageous than equity financing.

  7. Coming on stream: Financing biomass and alternative-fuel projects in the 1990s

    International Nuclear Information System (INIS)

    Mumford, E.B. Jr.

    1993-01-01

    Biomass-energy and alternative-fuels projects make environmental sense, but do they make economic sense? In the current project-finance environment, moving ideas off the drawing board and transforming them into reality takes more than vision and commitment; it takes the ability to understand and address the financial markets' perception of risk. This paper examines the state of the project-finance market, both as it pertains to biomass and alternative-fuels projects and in more general terms, focusing on what project sponsors and developers need to dot to obtain both early-state and construction/term financing, and the role a financial adviser can play in helping ensure access to funds at all stages

  8. Project finance and photovoltaic power plants : a theoretical and practical perspective

    OpenAIRE

    Aasgaard, Anne Kristine

    2010-01-01

    Project finance is a defined structure for developing new activity which involves establishing the project as a separate unit. The review of literature exhibits the distinctive characteristics of project finance and provides a rationale of this form of financing. Project finance entails financial modelling, risk management, legal aspects and the creation of a financial structure. The thesis explores practical use of project finance in a case study of a photovoltaic power plant and presents a ...

  9. The EIB and the financing of renewable energy sources

    International Nuclear Information System (INIS)

    Marty-Gauque, H.

    2004-01-01

    As a financial institution o the European Union, The European Investment Bank is working and to add substance to the commitments made by the Union and its Member States at Kyoto and subsequently at Johannesburg. Over the last two years, renewable energy sources have attracted funding of more than 1.1 billion from the bank, equivalent to 14% of the total loans granted to the energy sector 7.8 billion), compared to an average o 7.9 % over the previous five years. In order to obviate the detrimental characteristics presented by these investments from a financial viewpoint, in March, 2004 the bank set up a 'CCFF' (Climate Change Financing Facility) of 500 million. Additionally, along with the other financial institutions, the EIB is looking into he possibility of supporting the establishment of European carbon credit trading hubs. Where the economic assessment of these projects is concerned, the bank has decided to take account of external environmental and technological factors when calculating the internal profitability levels for renewable energy projects. Moreover, in order to deal with the problem of who exactly should bear the related risks, the bank is able to offer structured financing. For projects located outside the European Union, venture capital and technical assistance instruments make it possible to promote the emergence of innovative projects. Although we are witnessing the sustained growth of loans from the EIB in this sector, additional efforts still need to be made by the legislature in order to strengthen the framework for such projects including emissions quotas, mechanisms for ensuring the solvency of environmental on-costs and international trading rules adapted to take account of the possible distortion of competition, etc. (author)

  10. Nuclear energy center finance and ownership considerations

    International Nuclear Information System (INIS)

    Morris, J.A.; Wilder, R.P.

    1980-09-01

    Finance and ownership alternatives for a nuclear energy center (NEC) in South Carolina are analyzed in the context of the capital market and tax differences among alternatives. The ownership alternatives considered are (1) the private or private/public joint venture, (2) full public ownership and (3) a hybrid ownership form featuring federal involvement in the initial site development and permit phase, followed by a transition to private ownership. Public ownership is associated with considerably lower out-of-pocket costs than private ownership; the difference between the two, however, is related to subsidies from other parts of society to electricity customers of a publicly owned NEC. The attitudes of participating utilities on ownership forms are examined, with the finding of general strong opposition to increased federal involvement in the electric utility industry through NEC ownership. The conclusion is that the private-private/public joint venture is the preferable ownership form and that public ownership should be employed only if the private sector fails to respond to future energy demand

  11. Financing energy investments in the economies in transition

    International Nuclear Information System (INIS)

    Brendow, C.

    1997-01-01

    This report is the part concerning Central and Eastern Europe (CEE) and the Commonwealth of Independent States (CIS) of the World Energy Council (WEC) Programme - a global study of the financing requirements of future energy developments. The investment needs are determined to reach the standards of developed energy market economies in terms of quality of service, efficiency, profitability, environmental protection and safety. Considering the macro-economic and general energy development scenarios done by IIASA and WEC the cumulative investment requirements 1990-2020 would be to range from $281bill. to $509 bill. in CEE; annual investment requirements would amount to $15-28 bill. depending on the scenarios; specific investment requirements per ton energy would range from 77 (ecologically driven scenario) to $101 (high growth, coal based scenario). In 1994 international finance for CEE/CIS energy sector was only $5 bill. (or 5% of the needs) due to the small size of the projects, low energy prices and the lack of incentives. CEE/CIS countries have not done enough to attract foreign loans. Western energy corporations acquired shares of Russian oil and gas companies. Reasons for the slow start include currency risk, legal uncertainty, uncertain demand prospects, low electricity tariffs, required rate of returns - above 18% in CEE, 25% in CIS, compared to 10% in US and UK. About 9% of total world foreign direct investments have been entered in energy sector. Multilateral organizations have invested yearly average $0.8-1 bill. grants and credits in CEE/CIS energy activities. From 1991 to 1995 135 mill. ECU have been spent for supporting national energy sector in CEE countries under PHARE activities. Difficulties are due to the lack of developed capital markets in these countries. In the future CEE capital markets could support a substantial proportion of the national investment requirements. By 2020 capital requirements for energy supply investments would be 3.4-4.7% of

  12. Towards more financing options for energy efficient buildings and houses

    International Nuclear Information System (INIS)

    Vethman, P.; Menkveld, M.

    2012-02-01

    This article offers an impression of the problems related to the limited financial options for energy efficient buildings and dwellings and possible solutions. It is based on a recent ECN study (RE-BIZZ) and several interviews about this topic with financers. There is a need for a more business appreciation of market parties such as financers for energy efficiency in buildings to increase financing options. The market needs the help of the government, which can help to remove barriers and hence make financing more appealing. [nl

  13. Investment requirements in the energy sector and their financing

    International Nuclear Information System (INIS)

    Diehl, R.; Radtke, G.; Stoessel, R.

    1980-01-01

    The authors investigate the investment requirements of the energy economy, especially for the Federal Republic Germany, but also for parts of the world. Possibilities for financing are shown which can be considered as assured, under certain conditions. Included are the investments and the capital requirements for the fossil energy-carriers (coal, brown coal, oil, natural gas), for the electricity economy and for the regenerativ energy sources (e.g. tidal energy, wind, solar radiation). The last chapter deals with financing the necessary investments in the energy sector, considering the financing structure, financial problems of individual branches and the development of the credit volume. (orig.) [de

  14. Investment requirements in the energy sector and their financing

    Energy Technology Data Exchange (ETDEWEB)

    Diehl, R; Radtke, G; Stoessel, R [Dresdner Bank A.G., Duesseldorf (Germany, F.R.)

    1980-01-01

    The authors investigate the investment requirements of the energy economy, especially for the Federal Republic Germany, but also for parts of the world. Possibilities for financing are shown which can be considered as assured, under certain conditions. Included are the investments and the capital requirements for the fossil energy-carriers (coal, brown coal, oil, natural gas), for the electricity economy and for the regenerativ energy sources (e.g. tidal energy, wind, solar radiation). The last chapter deals with financing the necessary investments in the energy sector, considering the financing structure, financial problems of individual branches and the development of the credit volume.

  15. PPP-PROJECTS INFRASTRUCTURE AND SPECIFICS OF THEIR FINANCING

    Directory of Open Access Journals (Sweden)

    Dzambolat Valerevich Mrikaev

    2014-07-01

    Full Text Available The article examines the financing of public–private partnership (PPP infrastructure programs in Russia and analyzes the role of financial credit systems. The object of the study becomes more relevant then ever as the demand in programs support by the government is growing as well as the need in creating an extra initiative for raising an external investment.The study observes the most essential program financing features in Russia, the aims and interests of the partners.Objective: to compare the program financial assurance and specific features of such a public-private partnership form as project financing.  Methodology: We used scientific methods: analysis and synthesis, comparison, generalization, systematic approach.Results: As such “project financing” term doesn't exist in current Russian legislation. However, it is widely spread as a form of financial assurance. As a rule this term is used when talking about the investments in general regardless to specific ways of their execution. Russian governmental financing system under current economical circumstances has it all to use advantages of project financing  and effectively contribute to its further development.DOI: http://dx.doi.org/10.12731/2218-7405-2014-4-4

  16. IMPORTANCE OF FINANCING THE SOCIAL ECONOMY PROJECTS

    OpenAIRE

    Victor NICOL‚ESCU; Corina CACE; Sorin CACE

    2012-01-01

    The re-emergence of the social economy sector as important agent for occupation, economic growth, social solidarity, associationism and social services, coincided with a higher importance of running program and project- based activities in all European countries, irrespective whether they are member states of candidate states. Within the context of the benefits specific to the social economy projects it is important to debate and analyse the subject of continuing the activities of this form o...

  17. Financing schemes increasing energy efficiency and renewable energy use in public and private buildings. Comparative study

    International Nuclear Information System (INIS)

    2014-03-01

    What are the solutions to the municipal budget cuts? How can the cities finance their energy transition? What can we do to make it a driving force to boost the local economy and job creation? What are the new financial cash flows for this new economy? One of the solutions is to rethink financing solutions, and the local authorities that are engaged in energy transition are the best placed to do so. Many cities have voluntarily committed to reducing CO_2 emissions on their territories, notably by increasing energy efficiency and the use of renewable energy sources. Nearly 6,500 cities are committed to the objective to meet and exceed the European Union 20% CO_2 reduction objective by 2020. They have already developed their Baseline Emissions Inventories and Sustainable Energy Action Plans and thus are well aware of the energy flows on their territories, energy saving potential and the cost-effectiveness of the planned measures. The next step is to secure their financing sources and here both the private and public sector play a key role. Governments at all levels (European, national, regional and local), financial institutions, businesses, citizens and other local stakeholders should channel part of their funds to measures that help achieving our common energy and climate goals. Local authorities' role is to motivate and coordinate players on their territory. For its part, the European Union increased the amount allocated to energy efficiency and renewable energy projects in its 2014-2020 budget, giving a signal that a shift towards a low carbon economy is one of its top priorities. This could be a significant boost for local energy transition. However, the European Commission also announced that the EU budget should be spent in a more sustainable way and announced a progressive move from grants to loans and innovative financial instruments, in particular for projects that are viable on the current market. Many front-running Covenant signatories dedicate their human

  18. The Study on Stage Financing Model of IT Project Investment

    Directory of Open Access Journals (Sweden)

    Si-hua Chen

    2014-01-01

    Full Text Available Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.

  19. Evaluation Of The Risk Of Financing Projects Of Environmental Protection

    Directory of Open Access Journals (Sweden)

    Gabriela Cornelia PICIU

    2012-03-01

    Full Text Available The research project approaches multidimensionally the financing of environmental protection from the perspective of directing, correlating and consolidating the financial flows circumscribed to the regeneration of an economy affected by environmental deterioration due to the very activities defining the economic mechanisms and circuits. The purpose of the project is to identify, by scientific, methodological and empirical analysis of the concepts, principles and arguments imposed by the economic theory, the risks of financing the projects of environmental projects and to evaluate their effects because their neglecting, individual approach or erroneous dimensioning might have unfavourable and unforeseen consequences in terms of the efficiency of the environmental strategies and policies. The objective of the study is the reveal the interdependency and interaction between the flows and circuits financing the environmental projects, showing the necessity for punctual, distributive, correlative and multiplicative financing of the environmental protection. This must be done from an expanded and prospective spatial and temporal vision by a compositional approach of the risk for environmental investments within the complex network of the social, economic and financial risks generated by the global system of the human praxis focused on the binomial of the human-environment interdependence.

  20. The Study on Stage Financing Model of IT Project Investment

    Science.gov (United States)

    Xu, Sheng-hua; Xiong, Neal N.

    2014-01-01

    Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model. PMID:25147845

  1. The study on stage financing model of IT project investment.

    Science.gov (United States)

    Chen, Si-hua; Xu, Sheng-hua; Lee, Changhoon; Xiong, Neal N; He, Wei

    2014-01-01

    Stage financing is the basic operation of venture capital investment. In investment, usually venture capitalists use different strategies to obtain the maximum returns. Due to its advantages to reduce the information asymmetry and agency cost, stage financing is widely used by venture capitalists. Although considerable attentions are devoted to stage financing, very little is known about the risk aversion strategies of IT projects. This paper mainly addresses the problem of risk aversion of venture capital investment in IT projects. Based on the analysis of characteristics of venture capital investment of IT projects, this paper introduces a real option pricing model to measure the value brought by the stage financing strategy and design a risk aversion model for IT projects. Because real option pricing method regards investment activity as contingent decision, it helps to make judgment on the management flexibility of IT projects and then make a more reasonable evaluation about the IT programs. Lastly by being applied to a real case, it further illustrates the effectiveness and feasibility of the model.

  2. How to finance new energy-conservation equipment: investment in saving

    Energy Technology Data Exchange (ETDEWEB)

    Lipscombe, G

    1977-11-01

    A London banker outlines how companies can finance the new equipment needed to lower fuel consumption and reduce fuel bills. He notes that internal financing is the custom, but that the new urgency placed on efficient plant operation has broadened the options for financing capital projects. Financial considerations involve simple payback periods or a more sophisticated appraisal of an energy project's life-time effect on cash flow. Financiers will take into account whether there is a government grant, fuel cost savings, project costs, and tax allowances, although there are disadvantages in the discount approach. Outside sources of capital include bank drafts, term loans, leasing facilities, hire-purchase, and government loans. Each company must determine the best type of financing for its needs, but the opportunities improve when the energy manager, company accountant, and bank manager understand each other.

  3. Financing clean coal projects in Eastern Europe

    International Nuclear Information System (INIS)

    Jackson, G.

    1992-01-01

    The Trade and Development Program (TDP), a U.S. Government agency, provides funding for US firms to carry out feasibility studies, consultancies, and other planning services related to major projects in developing countries. By providing assistance in project planning, TDP promotes economic development; at the same time, TDP helps US firms get involved in projects that offer significant export opportunities. TDP has programs throughout the developing world, including Central and Eastern Europe, and has recently been authorized to operate in the Newly Independent States (NIS) of the former Soviet Union. The vast size and population of this region, as well as its tremendous infrastructural and basic industrial needs, present new challenges to TDP. The basic TDP program is described below; it is likely to be modified somewhat to meet the specific requirements of the NIS

  4. PROJECT FINANCE THE ROLE OF EXPORT CREDIT AGENCIES IN PROJECT FINANCE

    OpenAIRE

    Fatma Ceren YALCIN

    2013-01-01

    The functions of Export Credit Agencies have an important place in the economies of countries in terms of contribution to economic growth. The developed countries follow various policies and constitute institutions for the development and support of export and export financing. Every country develops its own export-financing mechanism, according to its own economic situation within the existing legal framework. However, the privatization and economic deregulation actions in the approaches to ...

  5. Doing business internationally : what makes a project financeable?

    International Nuclear Information System (INIS)

    Megaw, L.

    2002-01-01

    This presentation described the work of the Export Development Corporation (EDC), the only Canadian financial institution that is dedicated exclusively to finance and insurance services to support international trade. EDC supports Canadian exporters, foreign buyers and Canadian investors in international projects in North America as well as in Asia, South America, Europe, the Middle East and Africa. 5 figs

  6. Financing Options and Development Projects in the Nigerian Local ...

    African Journals Online (AJOL)

    This study is an investigation into the impact of Nigerian local government financing options on successful execution of development projects. Through the ordinary least square regression analysis, the study proved that though there is an established case of underfunding in the entire Nigerian local government system, the ...

  7. Financing School Capital Projects in New York State.

    Science.gov (United States)

    Howe, Edward T.

    1990-01-01

    Financing school capital projects in New York State is a responsibility involving both local school districts and the state government. State building aid is provided through an aid ratio and approved expenditure formula. This formula has an equalizing effect among districts by explicitly providing an aid amount inversely proportional to property…

  8. Financing Energy Upgrades for K-12 School Districts: A Guide to Tapping into Funding for Energy Efficiency and Renewable Energy Improvements

    Energy Technology Data Exchange (ETDEWEB)

    Goggio Borgeson, Merrian [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division; Zimring, Mark [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Environmental Energy Technologies Division

    2013-04-01

    This guide focuses on clean energy financing options for school administrators, facility managers, and other K-12 school decision makers who are considering investments in high performance school projects. This guide explicitly focuses on comprehensive energy upgrades, those that involve multiple measures and are targeted toward achieving significant energy savings. Successful implementation of clean energy upgrades in schools is a matter of understanding the opportunity, making the commitment, and creatively tapping into available financing. This guide attempts to provide the foundation needed for successful projects in U.S. schools. It walks through the financing options available to K-12 schools and provides case studies of six school districts from around the country.

  9. Geothermal Small Business Workbook [Geothermal Outreach and Project Financing

    Energy Technology Data Exchange (ETDEWEB)

    Elizabeth Battocletti

    2003-05-01

    Small businesses are the cornerstone of the American economy. Over 22 million small businesses account for approximately 99% of employers, employ about half of the private sector workforce, and are responsible for about two-thirds of net new jobs. Many small businesses fared better than the Fortune 500 in 2001. Non-farm proprietors income rose 2.4% in 2001 while corporate profits declined 7.2%. Yet not all is rosy for small businesses, particularly new ones. One-third close within two years of opening. From 1989 to 1992, almost half closed within four years; only 39.5% were still open after six years. Why do some new businesses thrive and some fail? What helps a new business succeed? Industry knowledge, business and financial planning, and good management. Small geothermal businesses are no different. Low- and medium-temperature geothermal resources exist throughout the western United States, the majority not yet tapped. A recent survey of ten western states identified more than 9,000 thermal wells and springs, over 900 low- to moderate-temperature geothermal resource areas, and hundreds of direct-use sites. Many opportunities exist for geothermal entrepreneurs to develop many of these sites into thriving small businesses. The ''Geothermal Small Business Workbook'' (''Workbook'') was written to give geothermal entrepreneurs, small businesses, and developers the tools they need to understand geothermal applications--both direct use and small-scale power generation--and to write a business and financing plan. The Workbook will: Provide background, market, and regulatory data for direct use and small-scale (< 1 megawatt) power generation geothermal projects; Refer you to several sources of useful information including owners of existing geothermal businesses, trade associations, and other organizations; Break down the complicated and sometimes tedious process of writing a business plan into five easy steps; Lead you

  10. Nuclear new build: Financing and project management

    International Nuclear Information System (INIS)

    Keppler, Jan Horst; Cometto, Marco

    2015-01-01

    As there are more nuclear power reactors under construction today than at any time in history, the authors present in a first part an economic and financial analysis comparing the respective exposure of gas-fired and nuclear power generation to electricity price uncertainty and examine the option of leaving the market in the case of a permanent fall in electricity prices. In a second part, the study more specifically addresses the financial risk associated with the development of a new nuclear project, taking into account not only uncertainty about the future evolution of prices but also about the cost of construction and operations, as well as the implications of different ratios of fixed cost to variable cost for bondholders and equity investors. The authors then address the issue of the management of new build projects and their supply chains, as the nuclear industry is undergoing a number of important developments with massive and discontinuous technological changes that are underway as generation II nuclear power plants (NPPs) are substituted by larger and more complex generation III/III+ plants. The loss of skill and human capital as engineers of the nuclear building boom of the 1970's and 1980's retire must also be factored in, as well as the reconfiguration of the global supply chain, which is driven both by new possibilities in data management, externalisation and logistics, and a secular shift of activity from the United States, Japan, Europe and Korea to China, Southeast Asia and the Middle East

  11. Project Finance Model for Small Contractors in USA

    Directory of Open Access Journals (Sweden)

    Jawahar Nesan

    2012-11-01

    Full Text Available Construction projects do not require a large capital outlay but a large working capital to start up the project. Unfortunately, for small contractors there are very limited options available from the banks or other lending institutions to cover this large working capital requirement in the absence of sufficient collateral. The “Project Finance” method presented in this paper is recommended as the most effective method for small contractors in the United States. The problems of small and start up contractors in funding their projects have been little addressed in the literature. The current financing practices were observed through both the literature review and interviews with contractors and bankers in the western Michigan area and subsequently a system has been proposed which could help a small start-up company seeking higher growth. The growth rates that can be achieved using the project finance system in contrast to the traditional “line of credit” arrangements as illustrated in this paper show that the project finance model is beneficial.

  12. Reference terms for the capitalisation study of Mali domestic biogas (BFM) and Climate and Energy in Western Africa (CEnAO) projects. Projects financed by the FISONG arrangement of the French Agency for Development (AFD)

    International Nuclear Information System (INIS)

    2014-01-01

    The BFM project (or domestic biogas project in Mali) project concerns the installation of 100 bio-digesters in Mali, and the CenAO one concerns the building up of wood-energy sector in Bamako. This report first presents these both projects, and then presents the capitalisation study, its objectives (global and specific objectives). It presents the study organisation: method and approach (preliminary phase, realisation, conclusion and recommendation), required abilities for the assessment, duration, documents to be produced

  13. Financing Nuclear Projects. Case Study: Unit 2 Cernavoda NPP

    International Nuclear Information System (INIS)

    Chirica, Teodor; Constantin, Carmencita; Dobrin, Marian

    2003-01-01

    The implementation of a Nuclear Power Plant (NPP) is a major undertaking for all entities involved, due to the necessity of planning work and coordination of the implementation process of the different fields of interest, starting with the governmental authorities and ending with the public. Having in view the specific investment costs (relatively high) for a NPP, finding an adequate financing structure is possible through an iterative process that involves first an assessment of the technical performances of the project and secondly, the mathematical modelling of the financing structure effects on the projects. In this respect, the paper will be focused on the main steps needed in order to promote an investment project in nuclear field, starting with the decision phase, providing the documentation requested by the local and international authorities to promote the project and ending with the negotiation of the contracts (commercial contract, financing contract, purchase contract, etc). The case study will be focused on the phases achieved in order to promote the Unit 2 NPP Cernavoda completion works project. (authors)

  14. Financing nuclear projects. Case study: Unit 2 Cernavoda NPP

    International Nuclear Information System (INIS)

    Chirica, T.; Pall, S.; Lebedev, A.; Dobrin, M.

    2003-01-01

    The implementation of a Nuclear Power Plant (NPP) in a country is a major undertaking for all entities involved, due to the necessity of planning work and co-ordination of the implementation process of the different fields of interest, starting with the governmental authorities and ending with the people. Having in view the specific investment cost (relatively high) for a NPP, to find an adequate financing structure is possible through an iterative process that involves first an assessment of the technical performances of the project and second, the mathematical modelling of the financing structure effects on the project. In this respect, the paper proposed will be focused on the main steps needed in order to promote an investment project in nuclear field, starting with the decision phase, providing the documentations requested by the local and international authorities to promote the project and ending with the negotiation of the contracts (commercial contract, financing contract, power purchase contract, etc.) The case study will be focused on the phases achieved in order to promote the Unit 2 Cernavoda NPP completion works project. (author)

  15. Massive financing of the energy transition - SFTE feasibility study: synthesis report, Energy renovation of public buildings

    International Nuclear Information System (INIS)

    2014-11-01

    The Energy Shift Financing Agency's (SFTE) project aims to establish a broad partnership between public and private entities to stimulate the economy and deliver between euros 180 bn and euros 420 bn of investment in Europe over 10 years for the benefit of medium-sized projects (in the order of euros 1 m) that are necessary for the energy transition. It will enable EU banks to finance the energy renovation of public buildings under excellent - cheap and long-term - conditions. A feasibility study has been conducted by the AFTER association with an exemplary consortium of public and private stakeholders in France: local authorities, industry players, banks/financial institutions, NGOs, Plan Batiment Durable. Many European institutions have expressed their interest in the initiative. Now the implementation of the SFTE project requires a commitment from European and national public authorities. Such a proactive real-estate policy would significantly contribute to economic recovery, cut costs, CO_2 emissions and the external deficit and improve energy independence, and could quickly create jobs. This document is the French version of the synthesis report of the SFTE project feasibility study. Two notes are attached to the document: one about the SFTE project adaptation to the Juncker's 315 bn euros investment plan, and the other about the selection of public buildings energy retrofitting in the Juncker plan and the French-German proposals

  16. The European investment bank and financing the installation of urban refuse treatment plants with energy recovery

    International Nuclear Information System (INIS)

    Marty-Gauquie, H.

    1992-01-01

    The European Investment Bank (BEI), the world's leading international financing institution, with an annual loans total of 15.3 billion Ecus in 1991, every year finances a number of projects for the treatment of refuse, with energy recovery from waste and heat distribution. This article describes the missions of the BEI and the parameters taken into account for authorizing investment. (author). 2 figs., 2 tabs

  17. Renewable energy sources, finance and sustainability outlook and latest evolution

    International Nuclear Information System (INIS)

    Paesani, P.

    2008-01-01

    Environment-related reasons, pressure by public opinion, and above all the strong belief that green technologies will be highly profitable pave the way to higher investments of private finance on renewable energy sources [it

  18. Financing Nuclear Power Plant Projects. A New Paradigm?

    International Nuclear Information System (INIS)

    Pehuet Lucet, Fabienne

    2015-05-01

    There are currently 435 operable nuclear power reactors around the world, with a further 71 under construction. Two main proven financing models were applied to nuclear plants in the past: the national model, and the corporate model. The historical model of financing is the national model. It allowed for the most efficient risk allocation model in then-regulated national electricity markets: government or state-owned utilities with government guarantee assumed the risks of building nuclear power plants locally. The national model has proven to be efficient in France, Russia and the USA where it was modified to support private business initiatives. It was then replicated in Japan, Korea and China where significant nuclear programs were developed. In the corporate business model, the owner of the plant assumes most of the risk, but various schemes are used to mitigate the owner's risk by transmitting large areas of risks to others: vendors for construction risk as in Finland, government through loans guarantees etc. As projects became international, a set of common principles were approved by OECD countries concerning financing and the role of Export Credit Agencies. The objective was to provide competition rules whereby exporters compete on the basis of the price and quality of their products rather than the financial terms provided. Various combinations of these models were and still are implemented. Pure Project Finance was not implemented for nuclear power plants, but the model nurtures reflections about new financing models. The context in which nuclear power projects are now decided and financed changed drastically: it is a new paradigm. Risk allocation and financial conditions are at the forefront of competition to win new nuclear projects' tenders insofar as reducing uncertainties is a decisive competition edge. In a context of electricity market deregulation and high construction risks, investors and lenders require more and more securities to

  19. TARGETED APPROACH TO MANAGING THE FINANCING OF INNOVATIVE PROJECTS

    Directory of Open Access Journals (Sweden)

    G. G. Balayan

    2014-01-01

    Full Text Available The variant of financing the innovative project that allows you to structure any project on the standard stages, regardless of the content of the project. For decision makers, in the management system information is narrowed to a necessary and sufficient by the correct selection of data. The necessity of timely forecast of problem situations and liquidation of not bringing to the state of the problem. It is proposed to organize the state structure, the Bank of innovations, concentrating innovations and connecting inventors with investors and customers.

  20. Energy, variability and weather finance engineering

    Science.gov (United States)

    Roussis, Dimitrios; Parara, Iliana; Gournari, Panagiota; Moustakis, Yiannis; Dimitriadis, Panayiotis; Iliopoulou, Theano; Koutsoyiannis, Demetris; Karakatsanis, Georgios

    2017-04-01

    Most types of renewable energies are characterized by intense intermittency, causing significant instabilities to the grid; further requiring additional infrastructure (e.g. pumped-storage) for buffering hydrometeorological uncertainties, as well as complex operational rules for load balancing. In addition, most intermittent renewable units are subsidized, creating significant market inefficiencies. Weather derivatives comprise mature financial tools for integrating successfully the intermittent-load and base-load components into a unified hybrid energy system and establish their operation within a generalized uncertainty management market. With a growing global market share and 46% utilization of this financial tool by the energy industry and 12% by agriculture (that partially concerns biofuel resources), weather derivatives are projected to constitute a critical subsystem of many grids for buffering frequent hydrometeorological risks of low and medium impacts -which are not covered by standard insurance contracts that aim exclusively at extreme events and high financial damages. In this context, we study the attributes of hydrometeorological time series in a remote and small island in Greece, powered by an autonomous hybrid energy system. Upon the results we choose the optimal underlying index and we further compose and engineer a weather derivative with features of a typical option contract -which we consider most flexible and appropriate for the case- to test our assumptions on its beneficiary effects for both the budget of private energy producers and the island's public administration. Acknowledgement: This research is conducted within the frame of the undergraduate course "Stochastic Methods in Water Resources" of the National Technical University of Athens (NTUA). The School of Civil Engineering of NTUA provided moral support for the participation of the students in the Assembly.

  1. Wind Energy Finance in the United States: Current Practice and Opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Schwabe, Paul D. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Feldman, David J. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Settle, Donald E. [National Renewable Energy Lab. (NREL), Golden, CO (United States); Fields, Jason [National Renewable Energy Lab. (NREL), Golden, CO (United States)

    2017-08-08

    In the United States, investment in wind energy has averaged nearly $13.6 billion annually since 2006 with more than $140 billion invested cumulatively over that period (BNEF 2017). This sizable investment activity demonstrates the persistent appeal of wind energy and its increasing role in the U.S electricity generation portfolio. Despite its steady investment levels over the last decade, some investors still consider wind energy as a specialized asset class. Limited familiarity with the asset class both limit the pool of potential investors and drive up costs for investors. This publication provides an overview of the wind project development process, capital sources and financing structures commonly used, and traditional and emerging procurement methods. It also provides a high-level demonstration of how financing rates impact a project's all-in cost of energy. The goal of the publication is to provide a representative and wide-ranging resource for the wind development and financing processes.

  2. Mr. Ansar Shamsi, Member Finance, Mr. Malik Adalat Khan, Director Finance, Pakistan Atomic Energy Commission

    CERN Multimedia

    Patrice Loïez

    2003-01-01

    Photo 01: Mr Ansar Shamsi, Member Finance, Pakistan Atomic Energy Commission (centre), visiting the ATLAS Tile Calorimeter in building 191 with, from left to right, Mr Syed Shaukat Hussain, Pakistan Mission in Geneva and Dr Peter Jenni, ATLAS Spokesperson. Photo 02: Mr Ansar Shamsi, Member Finance, Pakistan Atomic Energy Commission (2nd form left), visiting the ATLAS Tile Calorimeter in building 191 with, from left to right, Mr Syed Shaukat Hussain, Pakistan Mission in Geneva; Dr Peter Jenni, ATLAS Spokesperson; Dr David Jacobs and Dr Philip Bryant, Joint Pakistan-CERN Committee.

  3. NEW ATTRACTION MECHANISM OF INVESTMENT RESOURCES FOR FINANCING INFRASTRUCTURE PROJECTS

    Directory of Open Access Journals (Sweden)

    A. S. Popkova

    2013-01-01

    Full Text Available The paper analyzes revenue-yielding bonds as an efficient tool of governmental and municipal management. Conditions required for issue of  security papers have considered in the paper. The paper describes main  stages of the infrastructure bonded loan implementation. The global experience in financing construction and upgrading of infrastructure facilities through the bond issue has been investigated in the paper. The contains an analysis of risks while executing infrastructure projects and proposes methods for their minimization.

  4. Finance structure and public enlightenment program of the first Turkish nuclear power plant project (a case study)

    International Nuclear Information System (INIS)

    Lutfi Sarici, E.

    2000-01-01

    This paper deals with four closely related subjects. These are: the positioning of nuclear energy in Turkey's energy planning by presenting supply and demand figures of electricity, giving emphasis to resource availability, pointing out the necessity of diversification of resources; the ongoing situation for realization of the Akkuyu Project with its updated milestones, alternative offers requested for the Akkuyu Nuclear Power Plant and member companies of the consortiums who already have submitted the three bids; the financing of big-scale energy investment projects in developing countries by giving special emphasis to the Akkuyu Nuclear Power Plant Project including the financing requirements in the Bid Specifications, OECD rules for financing, the requirements of financial agents, and financing means of domestic participation; public enlightenment during establishment of nuclear power in Turkey. (author)

  5. Entropy, pumped-storage and energy system finance

    Science.gov (United States)

    Karakatsanis, Georgios

    2015-04-01

    Pumped-storage holds a key role for integrating renewable energy units with non-renewable fuel plants into large-scale energy systems of electricity output. An emerging issue is the development of financial engineering models with physical basis to systematically fund energy system efficiency improvements across its operation. A fundamental physically-based economic concept is the Scarcity Rent; which concerns the pricing of a natural resource's scarcity. Specifically, the scarcity rent comprises a fraction of a depleting resource's full price and accumulates to fund its more efficient future use. In an integrated energy system, scarcity rents derive from various resources and can be deposited to a pooled fund to finance the energy system's overall efficiency increase; allowing it to benefit from economies of scale. With pumped-storage incorporated to the system, water upgrades to a hub resource, in which the scarcity rents of all connected energy sources are denominated to. However, as available water for electricity generation or storage is also limited, a scarcity rent upon it is also imposed. It is suggested that scarcity rent generation is reducible to three (3) main factors, incorporating uncertainty: (1) water's natural renewability, (2) the energy system's intermittent components and (3) base-load prediction deviations from actual loads. For that purpose, the concept of entropy is used in order to measure the energy system's overall uncertainty; hence pumped-storage intensity requirements and generated water scarcity rents. Keywords: pumped-storage, integration, energy systems, financial engineering, physical basis, Scarcity Rent, pooled fund, economies of scale, hub resource, uncertainty, entropy Acknowledgement: This research was funded by the Greek General Secretariat for Research and Technology through the research project Combined REnewable Systems for Sustainable ENergy DevelOpment (CRESSENDO; grant number 5145)

  6. Privatization Financing Alternatives: Blending Private Capital and Public Resources for a Successful Project

    Energy Technology Data Exchange (ETDEWEB)

    BT Oakley; JH Holbrook; L Scully; MR Weimar; PK Kearns; R DiPrinzio

    1998-10-19

    The U.S. Department of Energy (DOE) launched the Contract Reform Initiative in 1994 in order to improve the effectiveness and effkiency of managing major projects and programs. The intent of this initiative is to help DOE harness both technical and market forces to reduce the overall cost of accomplishing DOE's program goals. The new approach transfers greater risk to private contractors in order to develop incentives that align contractor performance with DOE's objectives. In some cases, this goal can be achieved through public-private partnerships wherein the govermhent and the contractor share risks associated with a project in a way that optimizes its economics. Generally, this requires that project risks are allocated to the party best equipped to manage and/or underwrite them. While the merits of privatization are well documented, the question of how privatized services should be financed is often debated. Given the cost of private sector equity and debt, it is difficult to ignore the lure of the government's "risk free" cost of capital. However, the source of financing for a project is an integral part of its overall risk allocation, and therefore, participation by the government as a financing source could alter the allocation of risks in the project, diminishing the incentive structure. Since the government's participation in the project's financing often can be a requirement for financial feasibility, the dilemma of structuring a role for the government without undermining the success of the project is a common and difficult challenge faced by policymakers around the world. However, before reverting to a traditional procurement approach where the government enters into a cost-plus risk profile, the government should exhaust all options that keep the private entity at risk for important aspects of the project. Government participation in a project can include a broad range of options and can be applied with precision to bridge a

  7. Financing energy efficiency in developing countries-lessons learned and remaining challenges

    International Nuclear Information System (INIS)

    Sarkar, Ashok; Singh, Jas

    2010-01-01

    Although energy efficiency implementation is increasingly being recognized by policymakers worldwide as one of the most effective means to mitigating rising energy prices, tackling potential environmental risks, and enhancing energy security, mainstreaming its financing in developing country markets continues to be a challenge. Experience shows that converting cost-effective energy savings potential, particularly the demand-side improvement opportunities across sectors, into investments face many barriers and unforeseen transaction costs. This paper draws upon selected experiences with financing energy efficiency in developing countries to explore the key factors of various programmatic approaches and financing instruments that have been applied successfully for delivering energy efficiency solutions. Through case studies, a diverse range of institutional issues are examined related to the identification, packaging, designing, and monitoring approaches that have been used to catalyze traditional and innovative financing of energy efficiency projects. With adequate liquidity in major developing country markets and availability of modern energy savings technologies, it is often the institutional issues that become a key challenge to address in order to finance and implement robust programs. As further operational experience is gained, increased knowledge sharing can lead to scaling-up of such energy efficiency investments. The paper concludes with some ideas for accelerating implementation.

  8. Financing energy efficiency in developing countries. Lessons learned and remaining challenges

    Energy Technology Data Exchange (ETDEWEB)

    Sarkar, Ashok [Energy Unit, Energy, Transport and Water Department, World Bank (United States); Singh, Jas [Energy Sector Management Assistance Program (ESMAP), Energy, Transport and Water Department, World Bank (United States)

    2010-10-15

    Although energy efficiency implementation is increasingly being recognized by policymakers worldwide as one of the most effective means to mitigating rising energy prices, tackling potential environmental risks, and enhancing energy security, mainstreaming its financing in developing country markets continues to be a challenge. Experience shows that converting cost-effective energy savings potential, particularly the demand-side improvement opportunities across sectors, into investments face many barriers and unforeseen transaction costs. This paper draws upon selected experiences with financing energy efficiency in developing countries to explore the key factors of various programmatic approaches and financing instruments that have been applied successfully for delivering energy efficiency solutions. Through case studies, a diverse range of institutional issues are examined related to the identification, packaging, designing, and monitoring approaches that have been used to catalyze traditional and innovative financing of energy efficiency projects. With adequate liquidity in major developing country markets and availability of modern energy savings technologies, it is often the institutional issues that become a key challenge to address in order to finance and implement robust programs. As further operational experience is gained, increased knowledge sharing can lead to scaling-up of such energy efficiency investments. The paper concludes with some ideas for accelerating implementation. (author)

  9. Financing energy efficiency in developing countries-lessons learned and remaining challenges

    Energy Technology Data Exchange (ETDEWEB)

    Sarkar, Ashok, E-mail: asarkar@worldbank.or [Energy Unit, Energy, Transport and Water Department, World Bank (United States); Singh, Jas, E-mail: jsingh3@worldbank.or [Energy Sector Management Assistance Program (ESMAP), Energy, Transport and Water Department, World Bank (United States)

    2010-10-15

    Although energy efficiency implementation is increasingly being recognized by policymakers worldwide as one of the most effective means to mitigating rising energy prices, tackling potential environmental risks, and enhancing energy security, mainstreaming its financing in developing country markets continues to be a challenge. Experience shows that converting cost-effective energy savings potential, particularly the demand-side improvement opportunities across sectors, into investments face many barriers and unforeseen transaction costs. This paper draws upon selected experiences with financing energy efficiency in developing countries to explore the key factors of various programmatic approaches and financing instruments that have been applied successfully for delivering energy efficiency solutions. Through case studies, a diverse range of institutional issues are examined related to the identification, packaging, designing, and monitoring approaches that have been used to catalyze traditional and innovative financing of energy efficiency projects. With adequate liquidity in major developing country markets and availability of modern energy savings technologies, it is often the institutional issues that become a key challenge to address in order to finance and implement robust programs. As further operational experience is gained, increased knowledge sharing can lead to scaling-up of such energy efficiency investments. The paper concludes with some ideas for accelerating implementation.

  10. Project Management Methods in Projects Co-financed by EU Funds

    OpenAIRE

    Kostalova, Jana; Tetrevova, Libena; Patak, Michal

    2017-01-01

    This paper deals with the management of projects co-financed by European Union funds (structural funds and the Cohesion Fund) in the Czech Republic (EU projects). The authors aimed to analyze and assess the scope of familiarity with basic project management methods and their application within the implementation of EU projects in the Czech Republic in the Programming Period 2007–2013. Based on a questionnaire survey of EU project organisers, the authors evaluate their attitudes to project man...

  11. Simulation-based valuation of project finance investments. Crucial aspects of power plant projects

    Energy Technology Data Exchange (ETDEWEB)

    Pietz, Matthaeus

    2010-12-15

    The liberalization of electricity markets transformed a regulated and stable market to a market with former unknown price volatility. This results in a high uncertainty which is mainly due to the, from an economic point of view, lack of storability of the commodity electricity. Thus investments in power plants are highly risky. This dissertation analyzes crucial aspects within the valuation of a power plant financed via project finance, a popular financing method for projects with high capital requirements. Starting with the development of a valuation model based on stochastic modelling of the future cash flows the focus of the analysis is on the impact of model complexity and electricity prices. (orig.)

  12. Space Projects: Improvements Needed in Selecting Future Projects for Private Financing

    Science.gov (United States)

    1990-01-01

    The Office of Management and Budget (OMB) and NASA jointly selected seven projects for commercialization to reduce NASA's fiscal year 1990 budget request and to help achieve the goal of increasing private sector involvement in space. However, the efforts to privately finance these seven projects did not increase the commercial sector's involvement in space to the extent desired. The General Accounting Office (GAO) determined that the projects selected were not a fair test of the potential of increasing commercial investment in space at an acceptable cost to the government, primarily because the projects were not properly screened. That is, neither their suitability for commercialization nor the economic consequences of seeking private financing for them were adequately evaluated before selection. Evaluations and market tests done after selection showed that most of the projects were not viable candidates for private financing. GAO concluded that projects should not be removed from NASA's budget for commercial development until after careful screening has been done to determine whether adequate commercial demand exists, development risks are commercially acceptable and private financing is found or judged to be highly likely, and the cost effectiveness of such a decision is acceptable. Premature removal of projects from NASA's budget ultimately can cause project delays and increased costs when unsuccessful commercialization candidates must be returned to the budget. NASA also needs to ensure appropriate comparisons of government and private financing options for future commercialization projects.

  13. Teaching empirical finance courses: A project on portfolio management

    OpenAIRE

    Morley, Bruce

    2016-01-01

    The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management throu...

  14. Financing the alternative: renewable energy in developing and transition countries

    OpenAIRE

    Brunnschweiler, Christa N.

    2006-01-01

    This paper examines the determinants of credit allocation to renewable energy firms in developing and transition countries. Using a simple en- dogenous growth model, we show that the development of the renewable energy sector, i.e. the diversification of renewable energy resources used in primary energy production, depends on the quality of financial intermedia- tion, debtor information costs to banks, and financing needs of renewable energy firms. Policies should aim at increasing financial ...

  15. Point Climat no. 27 'Unlocking private investments in energy efficiency through carbon finance'

    International Nuclear Information System (INIS)

    Shishlov, Igor; Bellassen, Valentin

    2013-01-01

    Among the publications of CDC Climat Research, 'Climate Briefs' presents, in a few pages, hot topics in climate change policy. This issue addresses the following points: According to the latest IEA World Energy Outlook, energy efficiency is a 'key option' in transition to a low-carbon economy. A decade of experience with the CDM and JI demonstrates that carbon finance can be used as an effective tool to unlock private investments in energy efficiency. Capital investments in offset projects may significantly exceed the expected carbon revenues resulting in an average weighted leverage ratio of 4:1 and 9:1 for the CDM and JI respectively, which is comparable to other international financial instruments. So far carbon finance has been used mostly for large-scale industrial energy efficiency projects in advanced developing countries and economies in transition, although it is increasingly suited to tap into scattered household energy efficiency projects

  16. Financing and risk management of energy and mineral products in Nigeria

    International Nuclear Information System (INIS)

    Adepoyigi, T.

    1997-01-01

    Nigeria currently produces about 2 million barrels of oil per day and has proven reserves of about 21 billion barrels of oil and 150 trillion cubic feet (tcf) of gas. It is the world's 9 th largest producer of oil, OPEC's 5 th largest producer and Africa's largest producer. Nigeria also has considerable gas resources which are currently unexploited. Due to insignificant domestic demand and a current lack of export opportunities for unprocessed gas, Nigeria's total gas production is approximately 1.0 tcf per year, 85% of which is associated with crude oil production. In order to derive economic benefit from the untapped gas resources, the Federal Government, through special fiscal incentives and joint sponsorships, is actively encouraging the development of gas projects, such as the Oso NGL project (MPN/NNPC). the Escravos Gas Utilisation Project (Chevron/NNPC) and the Nigeria Liquefied Natural Gas (NLNG) project (Shell/Elf/AGIP/NNPC). These and other projects in the energy and mineral industry are primarily being financed with equity and external borrowings (debt). However, the large amount of capital required to finance a major energy or mineral project can strain the ability of many organizations to borrow money and fund the equity contributions needed as well as strain the lending levels for many banks in Nigeria. Since the available local financing is not adequate, large projects development are therefore financed from external sources

  17. Tunisia: to finance energy management. Proceedings of the international conference, Hammamet (Tunisia), 2007

    International Nuclear Information System (INIS)

    Bourguinat, Elisabeth; Missaoui, Rafik; Gromard, Christian de; Dognin, Hubert; Breton-Moyet, Laurence; Barbier, Jean-Pierre; Ayadi, Benaissa; Osman, Nejib; Amaimia, Neji; Bahri, Mounir; Marrouki, Sami; Henry, Alain; Dudziak, Rossana; ); Rassaa, Abdel Aziz; Kanoun, Faouzia; Pariente-David, Silvia; Baguenier, Henri; Gaudin, Thomas; Draeck, Mark; Lamande, Faycal; Quefelec, Stephane; Bosse, Philippe; Perthuis, Christian de; Amous, Samir; Lopez, Jose; Saidi, Ferid; Gueschir, Maxime; Allaire, Julien; Mezghani, Mohamed; Rejeb, Sarra; Soukah, Elyes; Laajimi, Brahim; Begon, Christophe; El Khoury, Pierre; Missaoui, Rafik; Sanz de Burgoa, Patricia; Ouchikh, Nadia; Joffre, Andre; Touhami, Myriem; ); Lihidheb, Kawther; Laponche, Bernard; Boujnah, Nejib

    2008-01-01

    After opening speeches, this publication proposes the contributions to a conference. These contributions addressed the following themes: investments in energy management and their financing (peculiarity, tools used by the AFD, tools of bilateral aid of the French economic mission in Tunisia, financing tools of the World Bank, needs and financing tools for investments in energy management in the eleventh plan in Tunisia), tools and examples of energy management financing (experience of the NovEnergia investment fund, financial and economic instruments in France, the British experience in energy saving certificates, funding the solar-gas plant project of Hassi R'Mel in Algeria, perspectives for the Blue Plan, example of the FFEM in financial partnership and energy management, financing carbon and energy management). The conference also comprised four sector-based workshops which addressed issues related to energy consumption, management and saving in the following sectors: industry, transports, housing, and office building. Contributions presented within these workshops notably give examples in Tunisia, France, Vietnam, or Lebanon

  18. Making It Count: Understanding the Value of Energy Efficiency Financing Programs Funded by Utility Customers

    Energy Technology Data Exchange (ETDEWEB)

    Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Fadrhonc, Emily Martin [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Schiller, Steve [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Schwartz, Lisa [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2015-12-01

    Utility customer-supported financing programs are receiving increased attention as a strategy for achieving energy saving goals. Rationales for using utility customer funds to support financing initiatives

  19. 24 CFR 811.110 - Refunding of obligations issued to finance Section 8 projects.

    Science.gov (United States)

    2010-04-01

    ... finance Section 8 projects. 811.110 Section 811.110 Housing and Urban Development Regulations Relating to... RELATED AMENDMENTS § 811.110 Refunding of obligations issued to finance Section 8 projects. (a) This... refunding which generate the McKinney Act savings and, if necessary, HUD will finance in refunding bond debt...

  20. Clean Energy Financing Programs: A Decision Resource for States and Communities

    Science.gov (United States)

    Describes financing-program options, key components of financing programs, and factors for states and communities to consider as they make decisions about getting started or updating their clean energy financing programs.

  1. Financing of LNG projects in developing countries and the role of the World Bank

    International Nuclear Information System (INIS)

    Levitsky, M.; Nore, P.

    1992-01-01

    The future quantities of capital required by the LNG industry will be very large. However, the continued rapid development of the industry is justified by the economic and environmental benefits of increased natural gas use. It is likely that the World Bank will continue to play a modest absolute role in supplying capital to the industry. The Bank can, however, play a crucial role in assisting governments in formulating appropriate energy policies and project development strategies and thereby creating the right policy and financial climate. The Bank can also provide a relatively modest amount of financial backing to projects, which nonetheless can help to generate larger volumes of finance from other sources. In the long run, LNG projects which are well structured and which operate within an appropriate policy environment should succeed in attracting financing even in today's more competitive environment

  2. REAL OPTIONS IN PROJECT FINANCE: AN OIL INDUSTRY APPLICATION

    OpenAIRE

    RAFAEL MACHADO MENDES

    2012-01-01

    As estruturas do tipo Project Finance, cada vez mais, vêm sendo utilizadas para o financiamento de projetos de investimento, principalmente, quando se trata de obras infraestruturais. Para tanto, uma grande estruturação jurídica é utilizada de forma a garantir uma adequada alocação de riscos às partes interessadas do projeto. Esta gestão riscos do projeto é de fundamental importância para garantir a viabilidade financeira e sucesso de um financiamento estruturado, como o Projec...

  3. Enact legislation supporting residential property assessed clean energy financing (PACE)

    Energy Technology Data Exchange (ETDEWEB)

    Saha, Devashree

    2012-11-15

    Congress should enact legislation that supports residential property assessed clean energy (PACE) programs in the nation’s states and metropolitan areas. Such legislation should require the Federal Housing Finance Agency (FHFA) to allow Fannie Mae and Freddie Mac to purchase residential mortgages with PACE assessments while at the same time providing responsible underwriting standards and a set of benchmarks for residential PACE assessments in order to minimize financial risks to mortgage holders. Congressional support of residential PACE financing will improve energy efficiency, encourage job creation, and foster economic growth in the nation’s state and metropolitan areas.

  4. Financing renewable energy for Village Power application

    Energy Technology Data Exchange (ETDEWEB)

    Santibanez-Yeneza, G.

    1997-12-01

    When one talks of rural development, no doubt, the issue of rural energy is not far behind. As a significant component of any development strategy, rural energy is seen as the engine for growth that can bring about economic upliftment in the countryside. Many approaches to rural energy development have been tried. These approaches differ from country to country. But regardless of structure and approach, the goal remain essentially the same: to provide rural communities access to reliable energy services at affordable prices. In recent years, as global concern for the environment has increased, many governments have turned to renewable energy as a more environment friendly alternative to rural electrification. Technological advances in renewable energy application has helped to encourage this use. System reliability has improved, development costs have, to some extent been brought down and varied application approaches have been tried and tested in many areas. Indeed, there is huge potential for the development of renewable energy in the rural areas of most developing countries. At the rural level, renewable energy resources are almost always abundantly available: woodwaste, agricultural residues, animal waste, small-scale hydro, wind, solar and even sometimes geothermal resources. Since smaller scale systems are usually expected in these areas, renewable energy technologies can very well serve as decentralized energy systems for rural application. And not only for rural applications, new expansion planning paradigms have likewise led to the emergence of decentralized energy systems not only as supply options but also as corrective measures for maintaining end of line voltage levels. On the other hand, where renewable energy resource can provide significant blocks of power, they can be relied upon to provide indigenous power to the grids.

  5. Evaluating The Financial Consequences of Different Financing Structure for Nuclear Power Project under Malaysian Market

    International Nuclear Information System (INIS)

    Muhammed Zulfakar Zolkaffly; Faisal Izwan Abdul Rashid; Siti Syarina Mat Sali; Fairuz Suzana Mohd Chachuli; Mohd Azmi Sidid Omar

    2016-01-01

    Full text: In 2010, Malaysia through the Economic Transformation Programme (ETP) has initiated an effort to explore nuclear energy as an option for electricity generation post-2020 in order to meet country's growing energy demand and diversify its energy mix. To date, Malaysia is focusing its efforts on the preparatory activities, pending to make decision to embark on nuclear power project. The development of nuclear power plants is a major undertaking for any country which that requires huge financial implications and commitments. On this note, this paper aims at evaluating the financial consequences of different financing structure for nuclear power project under Malaysian market condition, based on two key financial indicators, namely, Net Present Value (NPV) and Internal Rate of Return (IRR). The computer model FINPLAN developed by the IAEA was used to perform this study. The result shows that different financing structure significantly affect the sensitivity of NPV and IRR, that may be of interest to the investors in exploring viable financing structure for nuclear power project development. (author)

  6. A Global Review of Sustainable Construction Project Financing: Policies, Practices, and Research Efforts

    Directory of Open Access Journals (Sweden)

    Ming Shan

    2017-12-01

    Full Text Available Despite the increasing investment in sustainable development over the past decade, a systematic review of sustainable construction project financing is lacking. The objectives of this paper are to conduct a systematic review to examine the policies, practices, and research efforts in the area of sustainable construction project financing, and to explore the potential opportunities for the future research. To achieve these goals, this paper first reviewed the sustainable construction project financing practices implemented by four representative developed economies including the United Kingdom, the United States, Singapore, and Australia. Then, this paper reviewed the efforts and initiatives launched by three international organizations including the United Nations, the Organization for Economic Co-operation and Development, and International Finance Corporation. After that, this paper reviewed the research efforts of sustainable construction project financing published in peer-review journals and books. This paper identified four major research themes within this area, which are the review of financial stakeholders and market of sustainable construction, benefits and barriers to sustainable construction project financing, financial vehicles for sustainable construction projects, innovative models and mechanisms for sustainable construction project financing. Additionally, this paper revealed five directions for the future research of sustainable construction project financing, which are the identification of financial issues in sustainable construction projects, the investigation of financial vehicles for sustainable construction projects in terms of their strengths, limitations, and performances, the examination of critical drivers for implementing sustainable construction project financing, the development of a knowledge-based decision support system for implementing sustainable construction financing, and the development of best practices for

  7. Compendium on Financing of Higher Education: Final Report of the Financing the Students' Future Project

    Science.gov (United States)

    Payne, Bethan; Charonis, George-Konstantinos; Haaristo, Hanna-Stella; Maurer, Moritz; Kaiser, Florian; Siegrist, Rahel; McVitty, Debbie; Gruber, Angelika; Heerens, Nik; Xhomaqi, Brikena; Nötzl, Tina; Semjonov, Meeli; Primožic, Rok

    2013-01-01

    Higher education plays a vital role in society and the quality, accessibility, and form of higher education is highly dependent on financing. Financing of higher education is conceived to be of central importance for the future creation and dissemination of knowledge and research. Therefore, the financing of higher education is a topic that has…

  8. Financing energy investments world-wide and in the economies in transition

    International Nuclear Information System (INIS)

    Brendow, K.

    1998-01-01

    The necessity of mobilizing the finance under given circumstances is pointed out. The energy sector investments needs correspond to only 3-4% of world GDP or 6-7% of world capital formation. In most developing countries mobilizing financing is a issue, where the risk/return ratio of a given energy investment project does not compare favourably with competing projects and if their handicap is not compensating for by public financing or government guarantees. Compared to the other regions, the energy systems of the economies in transition absorb a high proportion of domestic capital. This is due to past and continuing supply-oriented energy policies and inefficiencies and the export orientation of the energy-rich countries, and to limited domestic capital markets. As a result only a estimated 9-13% of long-term investment 'needs' is presently financed. The root of the problem is slow progress in the reform of energy and capital markets at a time government withdraw from financing and guaranteeing energy investments. Recommendations include transition to sustainable energy strategies ; the liberalization of energy prices and tariffs; the phasing out of subsides and cross-subsides; the stabilization of tax and depreciation regimes; neutrality with regard of the various forms of ownership; reliable law enforcement; non-discrimination of foreign investors, shareholders, competitors; the ratification of the Energy Charter Treaty; and generally, institutional and regulatory frameworks that address market imperfections. Regarding domestic capital markets the goal is to increase traded volume, reduce volatility, and avoid discrimination and favour international integration

  9. Finance and the nuclear industry

    International Nuclear Information System (INIS)

    Radtke, G.G.

    1983-01-01

    The subject is discussed under the headings: the energy situation today; energy investment and capital requirements (finding the necessary funds); further possibilities; future financing (project financing); summary. (U.K.)

  10. Nuclear New Build: Insights into Financing and Project Management

    International Nuclear Information System (INIS)

    Horst Keppler, Jan; Cometto, Marco; Kim, Sang-Baik; Sozoniuk, Vladislav; Rothwell, Geoffrey; Thompson, Orme; Savage, Chris; Mancini, Mauro; Leigne, Philippe; Bickford, Erica; Crozat, Matt

    2015-01-01

    Nuclear new build has been progressing steadily since the year 2000, with the construction of 94 new reactors initiated and 56 completed reactors connected to the grid. Among these new reactors are some of the first generation III/III+ reactors of their kind. Drawing on a combination of conceptual analysis, expert opinion and seven in-depth case studies, this report provides policy makers and stakeholders with an overview of the principal challenges facing nuclear new build today, as well as ways to address and overcome them. It focuses on the most important challenges of building a new nuclear power plant, namely assembling the conditions necessary to successfully finance and manage highly complex construction processes and their supply chains. Different projects have chosen different paths, but they nonetheless share a number of features. Financing capital-intensive nuclear new build projects requires, for example, the long-term stabilisation of electricity prices whether through tariffs, power purchase agreements or contracts for difference. In construction, the global convergence of engineering codes and quality standards would also promote both competition and public confidence. In addition, change management, early supply chain planning and 'soft issues' such as leadership, team building and trust have emerged over and again as key factors in the new build construction process. This report looks at ongoing trends in these areas and possible ways forward. (authors)

  11. How we promote renewable energies. Financing aids, examples, contacts

    International Nuclear Information System (INIS)

    1996-08-01

    The present brochure informas the reader on possibilities of promotion and financing aids for renewable energies in Germany. In order to facilitate his understanding of the prinicpal technologies eligible for promotion it briefly describes the special features of the relevant technologies in an easily understandable manner. At the end the reader will find useful addresses and literature references. (orig./RHM) [de

  12. Informing the Financing of Universal Energy Access

    DEFF Research Database (Denmark)

    Bazilian, Morgan; Nussbaumer, Patrick; Gualberti, Giorgio

    distribution sectors in developing countries. We build on the methodology used to quantify the flows of investment in the climate change area. This methodology relies on national gross fixed capital formation, overseas development assistance, and foreign direct investment. These high-level and aggregated......, for the poorest countries, one can conclude that the current flows are considerably short (at least five times) of what will be required to provide a basic level of access to clean, modern energy services to the “energy poor”....

  13. Boosting the economy with energy efficiency financing

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2009-07-01

    From the New Deal to responses to blackouts, history teaches us that crisis times can result in salutary reforms. Recent international economic developments -- namely the international financial and economic crisis, combined with the volatility of energy prices -- threaten to jeopardise our economic well being and our ability to address other goals like climate change mitigation.

  14. Structure of financing investments in the energy sector

    OpenAIRE

    Kowal Barbara; Ranosz Robert; Sobczyk Wiktoria

    2017-01-01

    The purpose of this article is to discuss the issues of financing investments in the fuel and energy sector. The manner of financing business activities of every company depends on the decisions made by the management board, which need to take into consideration the effective striving for optimal level of the capital cost. The capital raised by the companies from the aforesaid sector may be in the form of equity or outside capital. This study depicts such sources of capital as bank loans a...

  15. The anatomy and importance of project finance for oil and gas developments

    International Nuclear Information System (INIS)

    Whyatt, A.S.

    1992-01-01

    This paper reports that project financing can be of great benefit to oil and gas projects because by separately identifying and securing assets and cashflows it can provide large sums not otherwise accessible to whole projects or to individual companies. Project financing is of interest to members of the SPE because it routinely requires the expertise of petroleum engineers and other professionals to vouch for the viability of petroleum projects and the recoverability of reserves. its essential attraction is that risk analysis and the application of precise professional criteria enable large projects and amounts to be financed, which otherwise might not occur. This is particularly the case when there are a number of participants in a large project, none of which is on its own able to support the finance. The growth in the average size of projects means that an increasing number of projects must be financed in this way or not be able to go forward

  16. Developing finance to meet energy industry challenge

    International Nuclear Information System (INIS)

    Morphett, C.

    1994-01-01

    The role of commercial financial institutions in the development of the world's oil and gas industry are charted in this article. Banks and other institutions have been lending money to the oil industry since the late 1920s. In the early days loans were short-term, but as the oil and gas industries have developed, using deeper wells and more complex technology, financial needs too have expanded. Better forecasting of future recovery levels, and a better understanding of reservoir characteristics has meant that lending institutions have advanced funds against projected oil revenues, with repayments due only as oil production comes on-line. (UK)

  17. Improving energy efficiency in buildings under the framework of facility management and leasing financing

    Energy Technology Data Exchange (ETDEWEB)

    Leutgoeb, Klemens [Austrian Energy Agency (Austria)

    2007-07-01

    Non-residential buildings see a big variety of building management and financing schemes. Two approaches quickly gain shares in the European real estate market: Leasing Financing (LF) and Facility Management (FM). They change the framework for the implementation of energy efficiency measures: LF influences the decision criteria in new construction and refurbishment; FM plays a crucial role during the operation phase.Although LF and FM introduce new parties and thus an additional set of interests, they must not be perceived as obstacles per se: They also offer new ways towards energy efficiency. Pilot activities in Austria demonstrate the successful integration of advanced energy services into the framework of LF and FM: At the end of the contract duration, leasing-financed buildings may be confronted with a need for comprehensive refurbishment. Here, leasing can become an important catalyst in preparing the refurbishment project. Integrating energy efficiency measures to the refurbishment activity and guaranteeing thermal-energetic qualities, provide the lessor with the opportunity to prolong and enlarge a running contract. Furthermore, this service reduces his credit risk, due to reduced running (i.e. energy) cost for the lessee. FM means outsourcing of selected building management functions to an external specialist. The list of requested services can be extended by the identification, implementation, operation and potentially also financing of cost-effective energy saving measures, and by a guarantee on energy cost savings - in other words by integrating elements of EPC-contracts into FM.

  18. Finance

    OpenAIRE

    2013-01-01

    Voici la 17e édition du Rapport moral sur l’argent dans le monde, publié chaque année depuis 1994 par l’Association d’économie financière avec le soutien de la Caisse des Dépôts. Abordant une nouvelle fois les grands débats qui traversent actuellement le monde de la finance, il se consacre dans un premier temps à la lutte contre la criminalité et les délits financiers, et plus particulièrement à la lutte contre la corruption, la délinquance dans la finance et la fraude fiscale. Dans un second...

  19. Energy financing in today's world - a banker's viewpoint

    International Nuclear Information System (INIS)

    Mackrell, Ian

    1991-01-01

    If the world runs on energy, the energy industry runs on finance. Supplying the industry's huge appetite for funds -on the scale and in the form required - has always posed a major challenge to the international banking community. But in some respects that challenge is greater today than it has ever been, not only because of the industry's escalating requirements but also because of the way bank's attitudes have been changing in the recent past. One reason for this is the rapidly evolving scene within the energy business in response to the harsher competitive conditions and the greater uncertainties of tomorrow. However, the other major factor is that banking itself has been undergoing significant change as a result of severe pressures and constraints, both internal and external. Some of the key global trends and issues affecting energy financing in today's world are considered here. (author)

  20. Energy financing in today's world - a banker's viewpoint

    Energy Technology Data Exchange (ETDEWEB)

    Mackrell, Ian [Barclays Bank plc, London (GB)

    1991-07-01

    If the world runs on energy, the energy industry runs on finance. Supplying the industry's huge appetite for funds -on the scale and in the form required - has always posed a major challenge to the international banking community. But in some respects that challenge is greater today than it has ever been, not only because of the industry's escalating requirements but also because of the way bank's attitudes have been changing in the recent past. One reason for this is the rapidly evolving scene within the energy business in response to the harsher competitive conditions and the greater uncertainties of tomorrow. However, the other major factor is that banking itself has been undergoing significant change as a result of severe pressures and constraints, both internal and external. Some of the key global trends and issues affecting energy financing in today's world are considered here. (author).

  1. Finance

    OpenAIRE

    2011-01-01

    Ces deux ouvrages tirent les enseignements de l’impact de la crise de la finance mondiale sur l’économie réelle et se focalisent, dans ce contexte, sur le financement du Mittelstand. Le banquier JASCHINSKI, lorsqu’il passe en revue le système bancaire allemand, constate ainsi que si les moyennes entreprises trouvent les crédits nécessaires auprès de leurs solides partenaires de toujours que sont les Sparkassen, les grandes sociétés, internationales, que compte le Mittelstand n’ont pas de part...

  2. Financing rail capital projects : historical lessons, contemporary cases.

    Science.gov (United States)

    2012-11-01

    Two large questions informed the research for this article: first, how and why did the mid20th century shift from private to public ownership, financing and operation of : passenger railways affect the subsequent financing and development of high ...

  3. Financing offshore projects: The banker's approach to risk

    International Nuclear Information System (INIS)

    Beldam, R.A.

    1994-01-01

    The author has attempted to consider why companies chose to share risks with banks and looked in particular at the unique risk sharing aspect of project financing and how this may be reflected in the loan documentation. He also has considered the current market place and examined some trends for the future. The future challenge in the North Sea is going to be to use existing and new technology to reduce capital and operating costs, balanced with optimal recovery and safety. From a bank perspective, this type of work is extremely satisfying, if challenging, and the author has no doubt banks will continue to play their part in the future of offshore development wherever it occurs around the world

  4. Energy finance to 2010: risks and opportunities for the industry and investors

    International Nuclear Information System (INIS)

    Nawaz, Sameer.

    1997-01-01

    Energy Finance to 2010, published by the Financial Times, covers all aspects of world wide energy finance. Topics reviewed in detail include an introduction to energy finance, energy infrastructure, private sector involvement, risk and precautions, the role of multilateral agencies, company investment strategies, and future trends and issues. (UK)

  5. Implications of applying solar industry best practice resource estimation on project financing

    International Nuclear Information System (INIS)

    Pacudan, Romeo

    2016-01-01

    Solar resource estimation risk is one of the main solar PV project risks that influences lender’s decision in providing financing and in determining the cost of capital. More recently, a number of measures have emerged to mitigate this risk. The study focuses on solar industry’s best practice energy resource estimation and assesses its financing implications to the 27 MWp solar PV project study in Brunei Darussalam. The best practice in resource estimation uses multiple data sources through the measure-correlate-predict (MCP) technique as compared with the standard practice that rely solely on modelled data source. The best practice case generates resource data with lower uncertainty and yields superior high-confidence energy production estimate than the standard practice case. Using project financial parameters in Brunei Darussalam for project financing and adopting the international debt-service coverage ratio (DSCR) benchmark rates, the best practice case yields DSCRs that surpass the target rates while those of standard practice case stay below the reference rates. The best practice case could also accommodate higher debt share and have lower levelized cost of electricity (LCOE) while the standard practice case would require a lower debt share but having a higher LCOE. - Highlights: •Best practice solar energy resource estimation uses multiple datasets. •Multiple datasets are combined through measure-correlate-predict technique. •Correlated data have lower uncertainty and yields superior high-confidence energy production. •Best practice case yields debt-service coverage ratios (DSCRs) that surpass the benchmark rates. •Best practice case accommodates high debt share and have low levelized cost of electricity.

  6. Performance Assessment Framework for Private Finance Initiative Projects in Malaysia

    Directory of Open Access Journals (Sweden)

    Lop Nor Suzila

    2016-01-01

    Full Text Available Private Finance Initiative (PFI is viewed as restructuring the previous privatisation concept in delivering value for money for the Malaysian public infrastructure. Among the restructuring efforts in the privatisation is specifying the standard assessment of private concessionaires’ performance through the execution of key performance indicators (KPIs where the private concessionaires’ performance is benchmarked against the government’s standard. KPIs have served as useful tools in assessing performance of PFI projects. However, there is still lacking on determination methods performed to define and measure this KPIs and the absence of guidelines or a framework is also an issue in the implementation of the PFI procurement in Malaysia. Therefore, the objectives of this paper is to investigate the notion of performance assessment model approaches globally (i.e. UK, China, Australia, Serbia and Malaysia and to identify direction for PFI performance assessment tools (KPIs to be practiced in Malaysia. Based on the consideration of these models, this research paper propose an initial framework of performance assessment for PFI projects in Malaysia. The framework is deliberate to cover the performance of PFI at the operation and maintenance phase. The outcomes of this paper can serve as a theoretical base for the development of comprehensive and effective performance assessment for PFI projects in Malaysia.

  7. Teaching empirical finance courses: A project on portfolio management

    Directory of Open Access Journals (Sweden)

    Bruce Morley

    2016-12-01

    Full Text Available The aim of this article was to assess the use of a group-based project for an empirical finance type of course. It examines the outline of the project, the methodology the students are encouraged to follow and how the course is assessed. This approach enables the students to apply many of the techniques learnt on this course and other courses such as econometrics, to determine an optimal portfolio of assets given their view on the risks in the economy. The emphasis is on risk management through portfolio diversification and the use of a simple hedge strategy. The overall aim was to introduce the students to the basics of portfolio management, as many work in this industry for their industrial placements and when they graduate. The main contribution to the literature is through the analysis of an empirically based portfolio management project. The feedback from the students suggests they felt that they had learnt useful concepts and information, in an enjoyable exercise.

  8. Energy Upgrades at City-Owned Facilities: Understanding Accounting for Energy Efficiency Financing Options. City of Dubuque Case Study

    Energy Technology Data Exchange (ETDEWEB)

    Leventis, Greg [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group; Schiller, Steve [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group; Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Futures Group; Schwartz, Lisa [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States). Energy Markets and Policy Group

    2017-06-30

    The city of Dubuque, Iowa, aimed for a twofer — lower energy costs for public facilities and reduced air emissions. To achieve that goal, the city partnered with the Iowa Economic Development Authority to establish a revolving loan fund to finance energy efficiency and other energy projects at city facilities. But the city needed to understand approaches for financing energy projects to achieve both of their goals in a manner that would not be considered debt — in this case, obligations booked as a liability on the city’s balance sheet. With funding from the U.S. Department of Energy’s Climate Action Champions Initiative, Lawrence Berkeley National Laboratory (Berkeley Lab) provided technical assistance to the city to identify strategies to achieve these goals. Revolving loans use a source of money to fund initial cost-saving projects, such as energy efficiency investments, then use the repayments and interest from these loans to support subsequent projects. Berkeley Lab and the city examined two approaches to explore whether revolving loans could potentially be treated as non-debt: 1) financing arrangements containing a non-appropriation clause and 2) shared savings agreements. This fact sheet discusses both, including considerations that may factor into their treatment as debt from an accounting perspective.

  9. Battleground Energy Recovery Project

    Energy Technology Data Exchange (ETDEWEB)

    Bullock, Daniel [USDOE Gulf Coast Clean Energy Application Center, Woodlands, TX (United States)

    2011-12-31

    In October 2009, the project partners began a 36-month effort to develop an innovative, commercial-scale demonstration project incorporating state-of-the-art waste heat recovery technology at Clean Harbors, Inc., a large hazardous waste incinerator site located in Deer Park, Texas. With financial support provided by the U.S. Department of Energy, the Battleground Energy Recovery Project was launched to advance waste heat recovery solutions into the hazardous waste incineration market, an area that has seen little adoption of heat recovery in the United States. The goal of the project was to accelerate the use of energy-efficient, waste heat recovery technology as an alternative means to produce steam for industrial processes. The project had three main engineering and business objectives: Prove Feasibility of Waste Heat Recovery Technology at a Hazardous Waste Incinerator Complex; Provide Low-cost Steam to a Major Polypropylene Plant Using Waste Heat; and Create a Showcase Waste Heat Recovery Demonstration Project.

  10. Finance

    OpenAIRE

    Spremann, Klaus

    2007-01-01

    Bisher veröffentlicht unter dem Titel: "Modern Finance" Das Buch beinhaltet ebenso einige Portraits: Die didaktische Erfahrung lehrt, dass man sich wissenschaftliche Ergebnisse und Ansätze besser merken kann, wenn eine Assoziation zu jener Person bildlich konkret wird, der wir den betreffenden Denkansatz verdanken. Aus Fragen der Finanzierung und der Investitionsentscheidungen von Unternehmen ist in der Verschmelzung mit der Analyse von Kapitalmärkten ein grosses Gebiet entstanden, da...

  11. Making energy projects happen

    International Nuclear Information System (INIS)

    Gilliland, S.F.; Utt, W.P.; Neff, N.T.

    1988-01-01

    In today's business environment, control of energy cost is a major challenge for businesses, institutions, and governmental agencies. New technologies are available to reduce energy costs through cogeneration, cheaper fuels, or other means. Often it is not possible for a Plant Owner to undertake such a project, regardless of how desirable it may be. The authors of this paper show that by applying the principles of Project Structuring and developing a comprehensive project team, the desired reduction in energy costs can be achieved. Various examples are cited, and guidelines are given for an Owner to use

  12. Solar Schools Assessment and Implementation Project: Financing Options for Solar Installations on K-12 Schools

    Energy Technology Data Exchange (ETDEWEB)

    Coughlin, J.; Kandt, A.

    2011-10-01

    This report focuses on financial options developed specifically for renewable energy and energy efficiency projects in three California public school districts. Solar energy systems installed on public schools have a number of benefits that include utility bill savings, reductions in greenhouse gas emissions (GHGs) and other toxic air contaminants, job creation, demonstrating environmental leadership, and creating learning opportunities for students. In the 2011 economic environment, the ability to generate general-fund savings as a result of reducing utility bills has become a primary motivator for school districts trying to cut costs. To achieve meaningful savings, the size of the photovoltaic (PV) systems installed (both individually on any one school and collectively across a district) becomes much more important; larger systems are required to have a material impact on savings. Larger PV systems require a significant financial commitment and financing therefore becomes a critical element in the transaction. In simple terms, school districts can use two primary types of ownership models to obtain solar installations and cost savings across a school district. The PV installations can be financed and owned directly by the districts themselves. Alternatively, there are financing structures whereby another entity, such as a solar developer or its investors, actually own and operate the PV systems on behalf of the school district. This is commonly referred to as the 'third-party ownership model.' Both methods have advantages and disadvantages that should be weighed carefully.

  13. Financing and disseminating small energy systems in rural areas

    International Nuclear Information System (INIS)

    Waddle, D.B.; Perlack, R.D.

    1992-01-01

    The viability of small energy systems, primarily photovoltaic systems, is discussed as an alternative for rural electrification via traditional grid extension. A dissemination model that incorporates financing to allow access to a much larger population of users and technology support (e.g. training for sales and service and small business development) is described. The experience of two successful programs is presented to illustrate the keys to effective program development and implementation. (author)

  14. Geothermal Financing Workbook

    Energy Technology Data Exchange (ETDEWEB)

    Battocletti, E.C.

    1998-02-01

    This report was prepared to help small firm search for financing for geothermal energy projects. There are various financial and economics formulas. Costs of some small overseas geothermal power projects are shown. There is much discussion of possible sources of financing, especially for overseas projects. (DJE-2005)

  15. Study of the legal and regulatory framework applicable to the participative financing of renewable energies

    International Nuclear Information System (INIS)

    Poize, Noemie; Milin, Christophe; Guillerminet, Marie-Laure; Galiano, Mila

    2015-12-01

    In the context created by the French law on energy transition and green growth, this study addresses participative projects which are levers for the financing of renewable energy production, and also contribute to the local dimension of projects. More precisely, the authors focus on participative projects in which a financial participation of citizen and/or local communities is present, with or without access to governance, directly or indirectly. The authors first propose a typology of these projects, based on existing initiatives, and then an overview of the legal and regulatory framework in effect before the law on energy transition. They comment and discuss articles contained by this law which address citizen participation. They discuss their impact on the current project typology

  16. The carbon market: major operational carbon funds and financed projects

    International Nuclear Information System (INIS)

    Markandya, A.; Nobili, V.

    2008-01-01

    The flexible mechanisms envisaged by the Kyoto Protocol have led gradually to a global carbon market that has become very appetizing for companies operating in the sector. Financial instruments such as carbon funds, and investments in greenhouse-gas-reduction projects, now operate at the international level, counting on the development of new technologies and energy efficiency, and contributing to sustainable development in the countries that host the projects [it

  17. Advice presented on behalf of the commission of economic affairs, environment and territory about the project of 2003 financial law (no. 230), tome 6, economy, finances and industry, industry-energy; Avis presente au nom de la commission des affaires economiques, de l'environnement et du territoire sur le projet de loi de finances pour 2003 (no. 230), tome 6, economie, finances et industrie, industrie-energie

    Energy Technology Data Exchange (ETDEWEB)

    Masdeu-Arus, J.

    2002-10-01

    This report presents in a detailed way the evolution of the French industry and energy financial supplies for 2003: 1 - general evolution of supplies; 2 - measures devoted to the improvement of the environment of industrial companies: quality policy, technical centers, financing of engineers schools; 3 - research and innovation supplies: main industrial research programs, small- and medium-size companies, innovation and technologies diffusion; 4 - budgetary sustain of the energy sector: budgetary sustain of nuclear energy and the French atomic energy commission (CEA) supplies, the commission of electric power regulation (CRE), the research network on oil and gas technologies, the agency of environment and energy mastery (Ademe), and the French institute of petroleum (IFP); 5 - the follow up of industrial mutations: mechanical decay of the supplies to the sectors in crisis: Charbonnages de France situation, naval construction, reconversion of coal mining and steelmaking industries (funds and conversion companies); 6 - economic and financial situation of Electricite de France (EdF): continuous deterioration of results, low profitability of daughter companies, consequences for the future. (J.S.)

  18. PREMISES FOR A MODEL OF DECISION – MAKING ON THE FINANCING OF A PROJECT

    Directory of Open Access Journals (Sweden)

    Popovici Ioana

    2010-07-01

    Full Text Available The classical theory of finance is based on the premises of rationality and maximizing profits that accompany economic decision-making. Complementarily, the modern theory of behavioral finance studies the effect of emotional and psychological factors of decision- maker on the choice of financing sources for economic activities. In opposition with the classical perspective, the contemporary theory of finance brings up to the stage various aspects of decision making, including elements of strategic behavior towards risk. All these contradictory elements are used as premises for modeling the decision making process of financing a project.

  19. The Rise, the Fall, and ... : The Emerging Recovery of Project Finance in Transport

    OpenAIRE

    Estache, Antonio; Strong, John

    2000-01-01

    Recent developments in emerging financial markets have dramatically changed the appetite for (and terms of) transport infrastructure projects. As a result of defaults in Asia and Russia and devaluations in Asia, Brazil, and Russia, political and currency and exchange risk premia have increased dramatically. Given large needs for sovereign debt financing, infrastructure project finance will...

  20. 13 CFR 120.801 - How a 504 Project is financed.

    Science.gov (United States)

    2010-01-01

    ... 13 Business Credit and Assistance 1 2010-01-01 2010-01-01 false How a 504 Project is financed. 120.801 Section 120.801 Business Credit and Assistance SMALL BUSINESS ADMINISTRATION BUSINESS LOANS Development Company Loan Program (504) § 120.801 How a 504 Project is financed. (a) One or more small...

  1. Energy Efficiency Finance Programs: Use Case Analysis to Define Data Needs and Guidelines

    Energy Technology Data Exchange (ETDEWEB)

    Thompson, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Larsen, Peter [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Kramer, Chris [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States); Goldman, Charles [Lawrence Berkeley National Lab. (LBNL), Berkeley, CA (United States)

    2014-07-01

    There are over 200 energy efficiency loan programs—across 49 U.S. states—administered by utilities, state/local government agencies, or private lenders.1 This distributed model has led to significant variation in program design and implementation practices including how data is collected and used. The challenge of consolidating and aggregating data across independently administered programs has been illustrated by a recent pilot of an open source database for energy efficiency financing program data. This project was led by the Environmental Defense Fund (EDF), the Investor Confidence Project, the Clean Energy Finance Center (CEFC), and the University of Chicago. This partnership discussed data collection practices with a number of existing energy efficiency loan programs and identified four programs that were suitable and willing to participate in the pilot database (Diamond 2014).2 The partnership collected information related to ~12,000 loans with an aggregate value of ~$100M across the four programs. Of the 95 data fields collected across the four programs, 30 fields were common between two or more programs and only seven data fields were common across all programs. The results of that pilot study illustrate the inconsistencies in current data definition and collection practices among energy efficiency finance programs and may contribute to certain barriers.

  2. Summary of a reference book on financing arrangements for nuclear power projects in developing countries

    International Nuclear Information System (INIS)

    1993-05-01

    The IAEA has recently published a reference book entitled Financing Arrangements for Nuclear Power Projects in Developing Countries (Technical Reports Series No. 353). The book reviews comprehensively the main features and problems concerning the financing of such projects in developing countries and presents innovative approaches for power generation financing. It also discusses the special conditions and requirements of nuclear power projects and the complexities of their financing, focusing on the practical issues to be dealt with to achieve successful financing, as well as the constraints encountered by most developing countries. This booklet summarizes the important features of the financing arrangements discussed in the reference book and was prepared with the aim of widely disseminating the results

  3. Managing externally financed projects: the Integrated Primary Health Care Project in Bolivia.

    Science.gov (United States)

    Homedes, N

    2001-12-01

    Bolivia is one of the poorest countries in Latin America. Health indicators are very poor, communicable diseases are prevalent and, coupled with malnutrition, remain the major killers of children under 5 years old. The Integrated Primary Health Care Project (PROISS) was a US$39 million project executed by the Ministry of Health (MOH), 50% financed by the World Bank and aimed at improving primary health care in the four largest Bolivian municipalities. The implementation of the project started in 1990 and ended in 1997. During implementation it went through three distinct phases: Phase 1 (1990-94) was a period characterized by conflict and confusion; Phase 2 (1995-mid-1996) documented major improvements in coverage and service quality; and Phase 3 (mid-1996-97) witnessed the decline of the project. This paper explores the factors that contributed to the success and the decline of the project, draws lessons for project managers and international agencies involved in the definition and implementation of social sector projects, and discusses the unlikelihood that externally financed projects can have a sustainable impact on the development of the health sector of recipient countries.

  4. The role of Project Finance in the viability of infrastructure projects: case of the petroleum and natural gas sector

    International Nuclear Information System (INIS)

    Faria, Viviana Cardoso de Sa e; Rodrigues, Adriano Pires

    2000-01-01

    Project finance represents neither recent news nor a panacea in the fields of long term financing. It is not able to solve the chronicle scarcity of resources applied in big projects financing in developing countries. In fact, underdeveloped markets as the Brazilian one offer, at the beginning, almost no chances to the project finance solution. In this case a path full of barriers overcome the solutions that project finance may offer. The process to adapt this instrument to the Brazilian reality presents the following hindrances: a different law framework, capital market underdevelopment; economical instability; political and regulating risks; incapability of the national insurance companies to insure big projects; cultural differences and lack of know-how in this area, and lastly, the out of date tax system. (author)

  5. MANAGEMENT ACCOUNTING IN EUROPEAN SOCIAL FUND FINANCED PROJECTS IN ROMANIA

    Directory of Open Access Journals (Sweden)

    Dogar Cristian

    2012-12-01

    usage, even if only less than 15% declared that they organize it continuously. The rest of more than 85% perceive an important concern about tracing money with budget breakdowns and activities within their projects, just about 65% of them considering also that their work is different now in an ESF project than in past situations. More than 83% of the ones organizing management accounting stated that their actual work is different than in past situations. Analyzing all the answers, we may consider that our hypothesis is correct and there is a real opportunity for accounting system improvements, by incorporating management accounting. Some other conclusions about interactions between the accounting and internal control systems may be drawn from the way that community members perceive communication from and to the accountant. Possible weaknesses of the internal control system may lead to unpleasant effects for sound financial management. This study is a part of a larger research “New models of the accounting and internal control systems of ESF financed interventions in Romania”, addressing a qualitative approach of ESF absorption through improved practices. The research is coordinated by Prof. Dr. Tatiana Dãnescu and elaborated by PhD student Cristian Dogar.

  6. Energy Efficiency Project Development

    Energy Technology Data Exchange (ETDEWEB)

    IUEP

    2004-03-01

    The International Utility Efficiency Partnerships, Inc. (IUEP) has been a leader among the industry groups that have supported voluntary initiatives to promote international energy efficiency projects and address global climate change. The IUEP maintains its leadership by both supporting international greenhouse gas (GHG) reduction projects under the auspices of the U.S. Department of Energy (DOE) and by partnering with U.S. and international organizations to develop and implement strategies and specific energy efficiency projects. The goals of the IUEP program are to (1) provide a way for U.S. industry to maintain a leadership role in international energy efficiency infrastructure projects; (2) identify international energy project development opportunities to continue its leadership in supporting voluntary market-based mechanisms to reduce GHG emissions; and (3) demonstrate private sector commitment to voluntary approaches to global climate issues. The IUEP is dedicated to identifying, promoting, managing, and assisting in the registration of international energy efficiency projects that result in demonstrated voluntary reductions of GHG emissions. This Final Technical Report summarizes the IUEP's work in identifying, promoting, managing, and assisting in development of these projects and IUEP's effort in creating international cooperative partnerships to support project development activities that develop and deploy technologies that (1) increase efficiency in the production, delivery and use of energy; (2) increase the use of cleaner, low-carbon fuels in processing products; and (3) capture/sequester carbon gases from energy systems. Through international cooperative efforts, the IUEP intends to strengthen partnerships for energy technology innovation and demonstration projects capable of providing cleaner energy in a cost-effective manner. As detailed in this report, the IUEP met program objectives and goals during the reporting period January 1

  7. Finance

    OpenAIRE

    2013-01-01

    Régulièrement au cœur de l'actualité, les trois agences de notation (Standard & Poor's, Moody's et Fitch) règnent sur le monde de la finance internationale. Mais quelles sont-elles et à qui appartiennent-elles véritablement ? Détenues par de puissants fonds d'investissements, elles ont progressivement renforcé leurs rôles et pouvoirs. L'auteur interpelle le citoyen sur un système dans lequel les fonds d'investissements profitent des agences de notation (et de leur rôle de « gardien des marché...

  8. Finance

    OpenAIRE

    2008-01-01

    Les investisseurs financiers et a fortiori les hedge fonds sont accusés de tous les maux. Ces « sauterelles » tomberaient sur les entreprises allemandes pour s’enrichir en les dépeçant. Un journaliste économique du quotidien des affaires Frankfurter Allgemeine Zeitung publie là un portrait objectif et factuel de ces « nouvelles stars » de la finance mondiale. Un portrait de branche, doublé d’une analyse de l’impact sur le « capitalisme rhénan » de la montée en puissance de ces nouveaux acteur...

  9. Financing the energy renovation of public buildings through Internal Contracting. Infinite Solutions Guidebook

    International Nuclear Information System (INIS)

    Schilken, Peter; Turner, Ian; Kuehnbach, Matthias; Simic, Ivan; Kuharic, Boris; Laranjeira, Celia; Rodrigues, Carlos; Couceiro, Carla; Presotto, Agnese; Mazzeschi, Alessandro; Cleto, Joao

    2017-02-01

    Meeting the European energy and climate policy objectives will require the mobilisation of substantial energy efficiency and renewable energy investments at the local level. Given both the substantial effort necessary to finance the energy transition and restricted municipal budgets, it is clear that these objectives cannot be met through traditional public financing such as grants or direct investment, but by finding a new approach to financing solutions. This Energy Cities guidebook is built upon a comprehensive analysis of Stuttgart's Internal Contracting scheme and a detailed questioning of it by the learning authorities within the INFINITE Solutions project. It is intended to offer guidelines to municipalities as well as universities, hospitals or other institutions interested in applying Internal Contracting to improve their energy consumption and efficiency performance. The approach of this guidebook is developed as follows: The concept of contracting - especially Internal Contracting - is introduced. Universal guidance is offered on how to implement an Internal Contracting scheme and keep it working over the long term. The Internal Contracting scheme is presented in practice. Several cities describe their individual approaches to Internal Contracting and the various ways they have been able to adapt the scheme

  10. Structuring and financing new nuclear power plant projects in Europe: selected remarks

    International Nuclear Information System (INIS)

    Belchev, A.

    2004-01-01

    Project financing in the field of nuclear energy is discussed taking into account the changes and new challenges in Europe. Bringing a project to maturity under 'revised' assumptions is likely to be a complex task for all parties involved, but there is a real potential for an enhanced role for stake holders from the private sector. There is a more realistic understanding about how the public and the private sectors can work together. Successfully combining public and private, national and foreign stake holders is likely to be a critical factor of success. The alignment of interest over the long term best serves a projects business case. In that context, a Governments policies are increasingly under the spotlight

  11. A new market risk model for cogeneration project financing---combined heat and power development without a power purchase agreement

    Science.gov (United States)

    Lockwood, Timothy A.

    Federal legislative changes in 2006 no longer entitle cogeneration project financings by law to receive the benefit of a power purchase agreement underwritten by an investment-grade investor-owned utility. Consequently, this research explored the need for a new market-risk model for future cogeneration and combined heat and power (CHP) project financing. CHP project investment represents a potentially enormous energy efficiency benefit through its application by reducing fossil fuel use up to 55% when compared to traditional energy generation, and concurrently eliminates constituent air emissions up to 50%, including global warming gases. As a supplemental approach to a comprehensive technical analysis, a quantitative multivariate modeling was also used to test the statistical validity and reliability of host facility energy demand and CHP supply ratios in predicting the economic performance of CHP project financing. The resulting analytical models, although not statistically reliable at this time, suggest a radically simplified CHP design method for future profitable CHP investments using four easily attainable energy ratios. This design method shows that financially successful CHP adoption occurs when the average system heat-to-power-ratio supply is less than or equal to the average host-convertible-energy-ratio, and when the average nominally-rated capacity is less than average host facility-load-factor demands. New CHP investments can play a role in solving the world-wide problem of accommodating growing energy demand while preserving our precious and irreplaceable air quality for future generations.

  12. Principals of the Islamic finance:A focus on project finance

    OpenAIRE

    Elasrag, hussein

    2011-01-01

    Islamic finance is one of the fastest growing segments of global financial industry. In some countries, it has become systemically important and, in many others, it is too big to be ignored.Islamic finance is based on shariah, an Arabic term that often is translated to “Islamic law.”Shariah provides guidelines for aspects of Muslim life, including religion, politics, economics,banking, business, and law.The basic sources of Shari’ah are the Qur’an and the Sunna, which are followed by the cons...

  13. Public Internal Performance Contracting - Managing and financing energy-efficiency measures in public administrations

    International Nuclear Information System (INIS)

    Irrek, Wolfgang; Thomas, Stefan; Attali, Sophie; Benke, Georg; Borg, Nils; Figorski, Arkadiusz; Filipowicz, Mariusz; Labanca, Nicola; Pindar, Andrew; Ochoa, Amalia

    2005-01-01

    Public Internal Performance Contracting (PICO) is a type of in-house 'third-party' financing or energy performance contracting scheme. In theory, once triggered, PICO provides a 'perpetual motion' finance mechanism for public authorities by which energy efficiency savings fund new investments in an upward virtuous cycle. One unit of the public authority, e.g. the technical department, delivers the financial and technical energy efficiency service to another unit of the same public administration. Remuneration takes place through cross payments between these units, according savings made in energy costs. The initial investments require 'seed funds' to kick start the process, after which the cross payments provide sufficient means to fund further measures. How can the PICO mechanism be initiated in times of tight public budgets? What difficulties are faced during the implementation process and how can these be overcome? What kind of energy-efficiency measures is PICO best suited to? And what role can national and European policy play to facilitate implementation? These are the key questions that the EU-funded PICOLight project aimed to tackle. This was done through testing and disseminating the PICO schemes, first used in Germany, in six European countries, developing these further and making the necessary adaptations. PICO schemes were piloted in seven public administrations with the technical focus on energy-efficient lighting retrofits. The experiences gathered in these pilot projects should help to introduce PICO schemes on a larger scale in public administrations in Europe. The paper presents the preliminary results from these pilot projects

  14. Guideline for financing agricultural biogas projects - Training material for biogas investors: D.3.7, WP 3

    OpenAIRE

    Hahn, H.

    2011-01-01

    There are many good reasons to implement a biogas plant ranging from environmental protection and waste reduction to renewable energy production. It can also include financial and non-financial incentives. Nevertheless, investors of biogas projects should be well informed about different legal requirements and financing possibilities. The guideline will help to analyse a potential biogas investment by describing its most important steps. The guideline starts with the project idea and a first ...

  15. Workshop Proceedings on Financing the Development and Deployment of Renewable Energy Technologies

    Energy Technology Data Exchange (ETDEWEB)

    None

    1995-05-16

    The Working Party on Renewable Energy (REWP) of the International Energy Agency (IEA) organized a two-day seminar on the role of financing organizations in the development and deployment of renewable energy (RE). The World Bank (WB) and the US Department of Energy (USDOE) hosted the workshop. Delegates were mainly senior government representatives from the 23 IEA member countries, whose responsibilities are related to all or most of the renewable sources of energy. In addition, representatives of the European Union, United Nations, trade organizations, utilities and industries and the WB attended the meeting. The workshop was recognized as an important first step in a dialog required between the parties involved in the development of RE technology, project preparation and the financing of RE. It was also recognized that much more is required--particularly in terms of increased collaboration and coordination, and innovative financing--for RE to enter the market at an accelerated pace, and that other parties (for example from the private sector and recipient countries) need to have increased involvement in future initiatives.

  16. Financing renewable energy infrastructure: Formulation, pricing and impact of a carbon revenue bond

    International Nuclear Information System (INIS)

    Tang, Amy; Chiara, Nicola; Taylor, John E.

    2012-01-01

    Renewable energy systems depend on large financial incentives to compete with conventional generation methods. Market-based incentives, including state-level REC markets and international carbon markets have been proposed as solutions to increase renewable energy investment. In this paper we introduce and formulate a carbon revenue bond, a financing tool to complement environmental credit markets to encourage renewable energy investment. To illustrate its use, we value the bond by predicting future revenue using stochastic processes after analyzing historical price data. Three illustrative examples are presented for renewable energy development in three different markets: Europe, Australia and New Jersey. Our findings reveal that the sale of a carbon revenue bond with a ten year maturity can finance a significant portion of a project's initial cost. - Highlights: ► Current financial incentives for renewable energy in the US are inadequate. ► We introduce and structure a “carbon revenue bond” as an innovative financing tool. ► Stochastic models of environmental credit prices are used to illustrate bond pricing. ► Three examples illustrate revenue bond impact on initial cost of infrastructure.

  17. Delays help German utilities maintain self-financing ratios. [Financing nuclear power projects

    Energy Technology Data Exchange (ETDEWEB)

    Radtke, G [Dresden Bank, AG (Germany, F.R.)

    1979-05-01

    Estimates of electricity consumption have been substantially reduced and nuclear plant is now expected to be 22% of total generating capacity in 1985 instead of the earlier forecast of 36%. The decline in the ordering of new plant has benefited the financial position of the electricity utilities and the expected fall in self-financing ratios has not occurred.

  18. PPP-PROJECTS INFRASTRUCTURE AND SPECIFICS OF THEIR FINANCING

    OpenAIRE

    Dzambolat Valerevich Mrikaev

    2014-01-01

    The article examines the financing of public–private partnership (PPP) infrastructure programs in Russia and analyzes the role of financial credit systems. The object of the study becomes more relevant then ever as the demand in programs support by the government is growing as well as the need in creating an extra initiative for raising an external investment.The study observes the most essential program financing features in Russia, the aims and interests of the partners.Objective: to compar...

  19. Financing options in Mexico's energy industry

    Energy Technology Data Exchange (ETDEWEB)

    McKenna, J.J. (PricewaterhouseCoopers Securities, Houston, TX (United States))

    1999-01-01

    A series of brief notes accompanied this presentation which was divided into seven sections entitled: (1) capital markets update, (2) Mexican financial market update, (3) financing options in the energy industry, (4) the Venezuelan experience at La Apertura, (5) private and strategic equity alternatives, (6) Pricewaterhouse Coopers Securities, and (7) Mexico energy 2005 prediction. The paper focused on how the financial crisis and merger activity in Latin America will impact electricity reform in Mexico. It was noted that under Mexico's Policy Proposal for Electricity Reform of the Mexican Electricity Industry, the financial community will seek to back companies in power generation, transportation and distribution. The difficulty of financing government businesses undergoing privatization was also discussed with particular emphasis on the challenge of accepting political and regulatory risks. The Latin private equity market and Canadian investment in Mexico was also reviewed. Since NAFTA (North American Free Trade Agreement) went into affect in 1994, Canadian investment in Mexico has more than tripled. Canadian companies have invested more than C$1.7 billion in Mexico since NAFTA. Pricewaterhouse Coopers Securities is a global investment bank which sees large opportunities in the Mexican energy market. They predict that in five years, Mexico will experience a gradual liberalization of the oil and gas sector, and a full liberalization of the gas pipeline and distribution business and the power generation, transmission and distribution business. 3 figs.

  20. Financing options in Mexico`s energy industry

    Energy Technology Data Exchange (ETDEWEB)

    McKenna, J.J. [PricewaterhouseCoopers Securities, Houston, TX (United States)

    1999-10-01

    A series of brief notes accompanied this presentation which was divided into seven sections entitled: (1) capital markets update, (2) Mexican financial market update, (3) financing options in the energy industry, (4) the Venezuelan experience at La Apertura, (5) private and strategic equity alternatives, (6) Pricewaterhouse Coopers Securities, and (7) Mexico energy 2005 prediction. The paper focused on how the financial crisis and merger activity in Latin America will impact electricity reform in Mexico. It was noted that under Mexico`s Policy Proposal for Electricity Reform of the Mexican Electricity Industry, the financial community will seek to back companies in power generation, transportation and distribution. The difficulty of financing government businesses undergoing privatization was also discussed with particular emphasis on the challenge of accepting political and regulatory risks. The Latin private equity market and Canadian investment in Mexico was also reviewed. Since NAFTA (North American Free Trade Agreement) went into affect in 1994, Canadian investment in Mexico has more than tripled. Canadian companies have invested more than C$1.7 billion in Mexico since NAFTA. Pricewaterhouse Coopers Securities is a global investment bank which sees large opportunities in the Mexican energy market. They predict that in five years, Mexico will experience a gradual liberalization of the oil and gas sector, and a full liberalization of the gas pipeline and distribution business and the power generation, transmission and distribution business. 3 figs.

  1. The Energy Economics of Financial Structuring for Renewable Energy Projects

    Science.gov (United States)

    Rana, Vishwajeet

    2011-12-01

    This dissertation focuses on the various financial structuring options for the renewable energy sector. The projects in this sector are capital-intensive to build but have relatively low operating costs in the long run when compared to traditional energy resources. The large initial capital requirements tend to discourage investors. To encourage renewable investments the government needs to provide financial incentives. Since these projects ultimately generate returns, the government's monetary incentives go to the sponsors and tax equity investors who build and operate such projects and invest capital in them. These incentives are usually in the form of ITCs, PTCs and accelerated depreciation benefits. Also, in some parts of the world, carbon credits are another form of incentive for the sponsors and equity investors to invest in such turnkey projects. The relative importance of these various considerations, however, differs from sponsor to sponsor, investor to investor and from project to project. This study focuses mainly on the US market, the federal tax benefits and incentives provided by the government. This study focuses on the energy economics that are used for project decision-making and parties involved in the transaction as: Project Developer/Sponsor, Tax equity investor, Debt investor, Energy buyer and Tax regulator. The study fulfils the knowledge gap in the decision making process that takes advantage of tax monetization in traditional after-tax analysis for renewable energy projects if the sponsors do not have the tax capacity to realize the total benefits of the project. A case-study for a wind farm, using newly emerging financial structures, validates the hypothesis that these renewable energy sources can meet energy industry economic criteria. The case study also helps to validate the following hypotheses: a) The greater a sponsor's tax appetite, the tower the sponsor's equity dilution. b) The use of leverage increases the cost of equity financing

  2. Financing uranium exploration and development projects in the 1990s

    International Nuclear Information System (INIS)

    Anon.

    1990-01-01

    The uranium production industry experienced momentous change during the decade of the 1980s. The Three Mile Island accident took place in the spring of 1979 and, while not necessarily creating the uranium open-quotes bustclose quotes of the ensuing decade, certainly set the tone for the entire nuclear power industry. Ever-increasing forecasts of installed commercial nuclear power coupled with a growing concern regarding the adequacy of uranium reserves and production capacity, ignited a wave of exploration and production capacity development in the mid-to-late 1970s which continued into the early 1980s. This momentum lead to over-production of uranium concentrates when compared to the eventual operation of commercial nuclear power plants. This material resulted in expanding inventories held by uranium producers and consumers alike. As these stockpiles inevitably found their way into the spot market, the price (as indicated by the NUEXCO Exchange Value) fell from a peak of $43.40 per pound U 3 O 8 in May 1978 to its current level of $8.80 per pound U 3 O 8 on April 30, 1990. As the nuclear power industry enters the 1990s, the debate regarding global warming and the subsequent role of nuclear power generation take on more importance. In any event, the nuclear power programs initiated principally in the 1970s are nearing completion. Even though new orders of power reactors have dropped precipitiously in the 1980s, the generation of electricity by nuclear fission accounts for almost twenty percent of WOCA (World Outside Centrally Planned Economies) electricity production. In order to place my main topic of financing future uranium exploration projects in perspective, I will review the conclusions of a uranium market study recently completed by NUEXCO Information Services, a group which closely monitors and evaluates the nuclear power industry and the nuclear fuel cycle

  3. Energy Storage Project

    Science.gov (United States)

    Mercer, Carolyn R.; Jankovsky, Amy L.; Reid, Concha M.; Miller, Thomas B.; Hoberecht, Mark A.

    2011-01-01

    NASA's Exploration Technology Development Program funded the Energy Storage Project to develop battery and fuel cell technology to meet the expected energy storage needs of the Constellation Program for human exploration. Technology needs were determined by architecture studies and risk assessments conducted by the Constellation Program, focused on a mission for a long-duration lunar outpost. Critical energy storage needs were identified as batteries for EVA suits, surface mobility systems, and a lander ascent stage; fuel cells for the lander and mobility systems; and a regenerative fuel cell for surface power. To address these needs, the Energy Storage Project developed advanced lithium-ion battery technology, targeting cell-level safety and very high specific energy and energy density. Key accomplishments include the development of silicon composite anodes, lithiated-mixed-metal-oxide cathodes, low-flammability electrolytes, and cell-incorporated safety devices that promise to substantially improve battery performance while providing a high level of safety. The project also developed "non-flow-through" proton-exchange-membrane fuel cell stacks. The primary advantage of this technology set is the reduction of ancillary parts in the balance-of-plant--fewer pumps, separators and related components should result in fewer failure modes and hence a higher probability of achieving very reliable operation, and reduced parasitic power losses enable smaller reactant tanks and therefore systems with lower mass and volume. Key accomplishments include the fabrication and testing of several robust, small-scale nonflow-through fuel cell stacks that have demonstrated proof-of-concept. This report summarizes the project s goals, objectives, technical accomplishments, and risk assessments. A bibliography spanning the life of the project is also included.

  4. Adequate Education: Issues in Its Definition and Implementation. School Finance Project, Working Papers.

    Science.gov (United States)

    Tron, Esther, Ed.

    Section 1203 of the Education Amendments of 1978 mandated the undertaking of studies concerning the adequate financing of elementary and secondary education in the 1980s. Created to carry out this mandate, the School Finance Project established as one of its goals reporting to Congress on issues implicit in funding educational adequacy. Several…

  5. 7 CFR 4280.29 - Supplemental financing required for the Ultimate Recipient Project.

    Science.gov (United States)

    2010-01-01

    ... 7 Agriculture 15 2010-01-01 2010-01-01 false Supplemental financing required for the Ultimate Recipient Project. 4280.29 Section 4280.29 Agriculture Regulations of the Department of Agriculture... AND GRANTS Rural Economic Development Loan and Grant Programs § 4280.29 Supplemental financing...

  6. Financing Non-Residential Photovoltaic Projects: Options and Implications

    Energy Technology Data Exchange (ETDEWEB)

    Bolinger, Mark

    2009-01-09

    Installations of grid-connected photovoltaic (PV) systems in the United States have increased dramatically in recent years, growing from less than 20 MW in 2000 to nearly 500 MW at the end of 2007, a compound average annual growth rate of 59%. Of particular note is the increasing contribution of 'non-residential' grid-connected PV systems--defined here as those systems installed on the customer (rather than utility) side of the meter at commercial, institutional, non-profit, or governmental properties--to the overall growth trend. Although there is some uncertainty in the numbers, non-residential PV capacity grew from less than half of aggregate annual capacity installations in 2000-2002 to nearly two-thirds in 2007. This relative growth trend is expected to have continued through 2008. The non-residential sector's commanding lead in terms of installed capacity in recent years primarily reflects two important differences between the non-residential and residential markets: (1) the greater federal 'Tax Benefits'--including the 30% investment tax credit (ITC) and accelerated tax depreciation--provided to commercial (relative to residential) PV systems, at least historically (this relative tax advantage has largely disappeared starting in 2009) and (2) larger non-residential project size. These two attributes have attracted to the market a number of institutional investors (referred to in this report as 'Tax Investors') seeking to invest in PV projects primarily to capture their Tax Benefits. The presence of these Tax Investors, in turn, has fostered a variety of innovative approaches to financing non-residential PV systems. This financial innovation--which is the topic of this report--has helped to overcome some of the largest barriers to the adoption of non-residential PV, and is therefore partly responsible (along with the policy changes that have driven this innovation) for the rapid growth in the market seen in recent years

  7. Terms, Trends, and Insights: PV Project Finance in the United States, 2017

    Energy Technology Data Exchange (ETDEWEB)

    Feldman, David J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Schwabe, Paul D [National Renewable Energy Laboratory (NREL), Golden, CO (United States)

    2017-10-23

    This brief is a compilation of data points and market insights that reflect the state of the project finance market for solar photovoltaic (PV) assets in the United States as of the third quarter of 2017. This information can generally be used as a simplified benchmark of the costs associated with securing financing for solar PV as well as the cost of the financing itself (i.e., the cost of capital). This work represents the second DOE sponsored effort to benchmark financing costs across the residential, commercial, and utility-scale PV markets, as part of its larger effort to benchmark the components of PV system costs.

  8. Risk reduction of international mining projects by means of investor consortia and diversification of external financing

    International Nuclear Information System (INIS)

    Kirchner, C.

    1982-01-01

    Investors and creditors of international mining projects bear specific risks which may be reduced by means of forming investor and financing consortia. Risk is defined for each actor separately. Project risk and investor risk respectively credit risk are useful categories in order to analyze risk reduction. In each case formation of consortia has a positive influence on the economic viability of the project, and thus reduces the project risk. Furthermore, formation of consortia leads to better compliance of the host country of the mining project with the project and financing agreements. Thus, investor and credit risk may be reduced. (orig.) [de

  9. Nr 251 - Report on the behalf of the Commission of finances, general economy and budget control on the finance bill project for 2013. Appendix Nr 13: ecology, sustainable development and planning, risk prevention, management and steering of policies of ecology, energy, sustainable development and sea

    International Nuclear Information System (INIS)

    Eckert, Christian; Mariton, Herve

    2012-01-01

    After having indicated some key figures (public finances and budgets awarded to different involved institutions and agencies), this report comments and discusses the various challenges and financial aspects regarding risk prevention: evolution of endowments in 2013, action in the field of prevention of technological risks and pollutions, issue of nuclear safety after the Fukushima accident (actions undertaken by the ASN, IRSN and ANDRA), assessment of the implementation of the PPRN (plan of prevention of natural risks) and management of flood risks, management of the after-mine period. The second part discusses the management and steering of policies of ecology, energy, sustainable development and sea in a context of decreased endowments

  10. Energy projections 1979

    International Nuclear Information System (INIS)

    1979-01-01

    The projections, prepared by Department of Energy officials, examine possible UK energy demand and supply prospects to the end of the century. They are based on certain broad long term assumptions about economic growth, technical improvements and movements in energy prices. The projections are intended to provide a broad quantitative framework for the consideration of possible energy futures and policy choices. Two cases are considered. In the first, the UK economy is assumed to grow at about 3 per cent to the end of the century and, in the second, at a lower level of about 2 per cent per annum. In both it is assumed that world oil prices will rise significantly above present levels (reaching some 30 dollars a barrel in terms of 1977 prices for Saudi Arabian marker crude by the end of the century). After incorporation of allowances for energy conservation which approximate to a reduction of some 20 per cent in demand, total primary fuel requirements in the year 2000 are estimated in the range 445 to 510 million tonnes of coal equivalent (mtce), representing an average rate of growth of 0.9 to 1.5 per cent a year. Potential indigenous energy supply by the end of the century is estimated in the range 390 to 410 mtce. This includes a possible installed nuclear capacity of up to 40 Gigawatts, approximately a fourfold increase on capacity already installed or under construction, and indigenous coal production of up to 155 million tonnes a year. The projections highlight the UK's prospective emergence during the later part of the century from a period from 1980 of energy surplus and the increasing roles which energy conservation, nuclear power and coal will be called upon to play as oil becomes scarcer and more expensive in the international market and as indigenous oil and gas production declines. (author)

  11. Approaches for the financing of renewable energy in Europe; Finanzierungsansaetze fuer erneuerbare Energien in Europa

    Energy Technology Data Exchange (ETDEWEB)

    Schwer, P.; Kornmann-Wimmer, K

    2007-06-15

    This report for the Swiss Federal Office of Energy (SFOE) examines financing instruments that are already available in selected European countries and which could also be adapted for use in Switzerland, too. The study is limited to European countries that are comparable with Switzerland in terms of size, geography and gross national product. Further limitations are investment volumes of under 20 million Euro/project and the consideration of only those technologies concerned with the production of electrical power. Thus, the report considers biogas, solar, geothermal and small-hydro technologies in France, Austria, Denmark, Germany, Italy, Norway, Belgium and Switzerland. External and internal financing is considered as well as mezzanine capital. Varying taxation in the various countries is looked at as is the contracting/leasing situation and subsidies available for renewable energy projects. Risk management is discussed. Finally, the transferability of the various financing instruments to Switzerland is examined. Suggestions are made on how small and medium-sized enterprises can be supported in an active and growing Swiss market.

  12. A financing model to solve financial barriers for implementing green building projects.

    Science.gov (United States)

    Lee, Sanghyo; Lee, Baekrae; Kim, Juhyung; Kim, Jaejun

    2013-01-01

    Along with the growing interest in greenhouse gas reduction, the effect of greenhouse gas energy reduction from implementing green buildings is gaining attention. The government of the Republic of Korea has set green growth as its paradigm for national development, and there is a growing interest in energy saving for green buildings. However, green buildings may have financial barriers that have high initial construction costs and uncertainties about future project value. Under the circumstances, governmental support to attract private funding is necessary to implement green building projects. The objective of this study is to suggest a financing model for facilitating green building projects with a governmental guarantee based on Certified Emission Reduction (CER). In this model, the government provides a guarantee for the increased costs of a green building project in return for CER. And this study presents the validation of the model as well as feasibility for implementing green building project. In addition, the suggested model assumed governmental guarantees for the increased cost, but private guarantees seem to be feasible as well because of the promising value of the guarantee from CER. To do this, certification of Clean Development Mechanisms (CDMs) for green buildings must be obtained.

  13. A Financing Model to Solve Financial Barriers for Implementing Green Building Projects

    Science.gov (United States)

    Lee, Baekrae; Kim, Juhyung; Kim, Jaejun

    2013-01-01

    Along with the growing interest in greenhouse gas reduction, the effect of greenhouse gas energy reduction from implementing green buildings is gaining attention. The government of the Republic of Korea has set green growth as its paradigm for national development, and there is a growing interest in energy saving for green buildings. However, green buildings may have financial barriers that have high initial construction costs and uncertainties about future project value. Under the circumstances, governmental support to attract private funding is necessary to implement green building projects. The objective of this study is to suggest a financing model for facilitating green building projects with a governmental guarantee based on Certified Emission Reduction (CER). In this model, the government provides a guarantee for the increased costs of a green building project in return for CER. And this study presents the validation of the model as well as feasibility for implementing green building project. In addition, the suggested model assumed governmental guarantees for the increased cost, but private guarantees seem to be feasible as well because of the promising value of the guarantee from CER. To do this, certification of Clean Development Mechanisms (CDMs) for green buildings must be obtained. PMID:24376379

  14. Investigating Appropriate Financing Methods in Collaborative Projects of Water and Wastewater with AHP Approach

    Directory of Open Access Journals (Sweden)

    V. Vosoughi

    2017-10-01

    Full Text Available A mix of public and private funding is employed worldwide to enable the construction of large public projects and even, in some cases, the work of public services. In this study, the selected methods of financing of participatory projects of water and water wastes were studied and prioritized. Questionnaires and comments of experts were used along with AHP decision-making and Expert Choice software. Different financing methods include: BOT and BOO and its types, the publication of bonds, foreign direct investment, the method of buyback, internal financing, current financing, development banks, Barter transactions, new tax resources and foreign financing. Results are shown and discussed and a final ranking is provided.

  15. Clean Energy Finance: Challenges and Opportunities of Early-Stage Energy Investing (Presentation)

    Energy Technology Data Exchange (ETDEWEB)

    Heap, D.; Pless, J.; Aieta, N.

    2013-12-01

    Characterized by a changing landscape and new opportunities, today's increasingly complex energy decision space will need innovative financing and investment models to appropriately assess risk and profitability. This report provides an overview of the current state of clean energy finance across the entire spectrum but with a focus on early stage investing, and it includes insights from investors across all investment classes. Further, this report aims to provide a roadmap with the mechanisms, limitations, and considerations involved in making successful investments by identifying risks, challenges, and opportunities in the clean energy sector.

  16. EnergySmart Schools National Financing Roundtable II - Key Outcomes

    Energy Technology Data Exchange (ETDEWEB)

    None

    2009-12-01

    This document summarizes the discussion at the Financing Roundtable. It provides an overview of the financing opportunities, challenges, and activities involved in achieving high performance schools, as identified by the participants.

  17. CRAUDFUNDING AS A PERSPECTIVE MODEL OF FINANCING BUSINESS IDEAS AND PROJECTS

    OpenAIRE

    Vyacheslav Riznyk; Nadiya Riznyk

    2018-01-01

    The subject of research is crowdfunding as an alternative model of attracting financing for the implementation business ideas and projects based on the use of crowdfunding Internet platforms. The purpose of the article is to clarify the possibilities of crowdfunding as a new financial instrument and a promising source of funding. The aim of the article is to consider crowdfunding as an alternative model for financing author's business ideas and projects, to analyze the main types and mo...

  18. The rise, the fall, and ... : the emerging recovery of project finance transport

    OpenAIRE

    Estache, Antonio; Strong, John

    2000-01-01

    Recent developments in emerging financial markets have dramatically changed the appetite for (and terms of) transport infrastructure projects. As a result of defaults in Asia and Russia and devaluations in Asia, Brazil, and Russia, political and currency and exchange risk premia have increased dramatically. Given large needs for sovereign debt financing, infrastructure project finance will be seeking guarantees at the same time as governments are issuing primary securities. Large portfolio ou...

  19. Estonian energy forest project

    International Nuclear Information System (INIS)

    Koppel, A.; Kirt, E.; Kull, K.; Lasn, R.; Noormets, A.; Roostalu, H.; Ross, J.; Ross, V.; Sulev, M.

    1994-04-01

    In February 1993 an agreement of Swedish-Estonian scientific co-operation on energy forest was signed. In may five energy forest plantations (altogether 2 ha) were established in Estonia with Swedish selected clones of Salix viminalis and Salix dasyclados. The research within this project is carried out within three main directions. The studies of basic ecophysiological processes and radiation regime of willow canopy will be carried out in Toravere. The production ecology studies, comparison of the productivity of multiple clones on different soil types is based on the plantations as vegetation filter for wastewater purification is studied on the basis of plantations in Vaeike-Maarja and Valga (author)

  20. Models of Financing and Available Financial Resources for Transport Infrastructure Projects

    Directory of Open Access Journals (Sweden)

    O. Pokorná

    2001-01-01

    Full Text Available A typical feature of transport infrastructure projects is that they are expensive and take a long time to construct. Transport infrastructure financing has traditionally lain in the public domain. A tightening of many countries' budgets in recent times has led to an exploration of alternative resources for financing transport infrastructures. A variety of models and methods can be used in transport infrastructure project financing. The selection of the appropriate model should be done taking into account not only financial resources but also the distribution of construction and operating risks and the contractual relations between the stakeholders.

  1. Debt swaps as an innovative tool for financing renewable energies

    International Nuclear Information System (INIS)

    Gugler, A.

    1999-01-01

    The emergence of a so-called 'secondary market' for Third World debt papers laid the foundations for different types of debt swaps or debt conversions. A debt conversion is a financial transaction in which a 'converter' (or investor) exchanges (swaps) a debt denominated in a hard currency for a domestic debt payable in local currency by the debtor government. This operation is attractive for the investor because it can imply a significant leverage, since the debt paper is purchased at an often substantial discount on the secondary market, whereas the debtor government will redeem it at a rate above the purchase price. Debt swaps can play a role as an additional source of development finance, but their contribution should not be overestimated. Over the last ten years, debt-for-development and debt-for-nature swaps have generated an estimated US$ 1 billion in local currency. In recent years, debt swaps originating with non-governmental organizations have considerably slowed, probably due to rising prices for commercial debt titles. On the other hand, it is expected that there will be an increase of official debt conversions in the future. Since they can be an attractive financing tool, debt swaps could also be used in order to fund investments in or credit facilities for alternative energies. (orig.)

  2. Nuclear project finance in developing countries: The multi-country financing alternative

    International Nuclear Information System (INIS)

    Fleck, J.B.

    1986-01-01

    It is the basic contention of this paper that, because of certain factors in the financial markets, multi-country financing (MCF) is the new alternative if not the imperative for large scale and turnkey nuclear plant programs in developing countries. The point is made that its successful use depends on the ability of the host country, the credit granting countries and suppliers to both recognize the MCF reality and manage its implicit variables. Those who collectively do so will be successful, and those who cannot will not be states the author. The aspects of MCF are described

  3. Renewable energy project development

    Energy Technology Data Exchange (ETDEWEB)

    Ohi, J.

    1996-12-31

    The author presents this paper with three main thrusts. The first is to discuss the implementation of renewable energy options in China, the second is to identify the key project development steps necessary to implement such programs, and finally is to develop recommendations in the form of key issues which must be addressed in developing such a program, and key technical assistance needs which must be addressed to make such a program practical.

  4. Green investment as a financing tool for solar energy systems

    International Nuclear Information System (INIS)

    Koot, E.J.

    1997-07-01

    Results of a workshop on the title subject (25 March 1997) are presented. The purpose of the workshop was to transfer knowledge and disseminate information about the fiscal options and regulations in the Netherlands to invest in environment-friendly projects (EIA, VAMIL, Regeling Groenprojecten). Next to presentations of representatives of a bank, involved in green funding projects, a public utility and a housing corporation, four cases were discussed in which green investment options for solar energy system projects have been evaluated: (1) large-scale solar boiler project (150 m 2 ) in a health care home (utility building); (2) large-scale photovoltaic (PV) project (1000 m 2 ) in the facade of a new office building; (3) application of solar water heaters in a housing project of 1000 private property houses; and (4) a cluster project of 100 private property houses with a 5 m 2 roof-integrated PV-system for each house

  5. EVALUATION OF EFFICIENCY OF FINANCING TRANSPORT INFRASTRUCTURE PROJECTS REALIZED IN THE FRAMEWORK OF PUBLIC PRIVATE PARTNERSHIP

    Directory of Open Access Journals (Sweden)

    S. B. Vasiliev

    2015-01-01

    Full Text Available The article examines the basic approach to evaluating efficiency of financing transport infrastructure projects realized in the framework of public private partnership. The main ways of the project realization are identified, and their main advantages and disadvantages are described. Detailed elaboration and structuring of infrastructure projects are grounded.

  6. Project financing of biomass conversion plants. Analysis and limitation of bank-specific risks; Projektfinanzierung von Biogasanlagen. Analyse und Begrenzung der bankspezifischen Risiken

    Energy Technology Data Exchange (ETDEWEB)

    Wolf, Eileen

    2011-07-01

    In view of the climate change, limited availability of fossil fuels and increasing energy prices, the power generation from renewable energy sources increasingly is promoted by the state. In this case, bio energy plays a special role. The implementation of bio energy projects usually occurs in the context of project financing. Under this aspect, the author of the book under consideration reports on an analysis and limitation of bank-specific risks.

  7. N.3277 notice presented for the Finances, Economy and Plan Commission on the articles 4, 10, 11 and 12 of the law project n.3201 relative to the energy sector

    International Nuclear Information System (INIS)

    Novelli, H.

    2006-08-01

    In the framework of the law project relative to the energy sector in France, this notice details the context, the markets opening and the free choice for the consumer, the dispositions relative to the capital of Gaz de France and the government control and the juridical aspects of Gaz de France privatization. (A.L.B.)

  8. Financing the pot of gold: problems and solutions with energy efficiency finance in eastern Europe

    International Nuclear Information System (INIS)

    Hobson, Peter

    1994-01-01

    The International Institute for Energy Conservation has reported that savings of 20% to 25% can be made in current energy usage in the countries of eastern and central europe and the former Soviet Union. With investment in new capital equipment, energy savings could rise to 30% to 40% in the longer term. The energy efficiency market in these countries represents a pot of gold waiting to be tapped. Although some of this potential is already being exploited, some obstacles remain. These include: the need for multi-lateral development banks (MDBs) to develop methods to overcome the limitations in their present lending practices; the making of energy efficiency a priority objective in energy policy, with, for example, Integrated Resource Planning; the improvement of training and communication to ensure the skills to develop energy efficiency projects are available; the recognition by key figures - governments (east and west), utilities and MDBs - that the needs of these countries are best met by sustainable growth and sensible use of resources not by the present tendency to concentrate on supply expansion. (UK)

  9. 78 FR 49726 - International Framework for Nuclear Energy Cooperation Finance/Regulatory/Energy Planning...

    Science.gov (United States)

    2013-08-15

    ..., (2) government commitment and support, and (3) a sound business plan. This workshop will be designed... power purchase agreements, are playing today in the financing of nuclear power projects in emerging... opportunity to network, build relationships in the global civil nuclear sector and learn more about current...

  10. U.S. financing for international independent power production projects: Legal and business issues

    International Nuclear Information System (INIS)

    Buehler, J.E. Jr.

    1990-01-01

    Fundamental changes are occurring in the capital and project development markets both domestically and internationally. In the United States, the capital market has undergone dramatic changes recently, characterized by clubbed debt structures, uncertain pricing spreads, and declining leverage ratios. In response, project sponsors and their investment bankers have created innovative debt and equity structures to attract investors while at the same time minimizing project risk and preserving the flexibility for the project to operate optimally. The structure of a project financing, either U.S. or international, will vary depending on (1) the differing project management/control concerns, financial goals and risk profiles of the developer, equipment and fuel suppliers, bank lenders and equity sources, (2) regulatory issues, such as compliance with the Public Utility Holding Company Act (PUHCA) in the U.S. and similar national utility legislation in the host foreign country, and (3) the tax implications of a given structure to the project owner, lender, and equity supplier. In response to these investor-specific goals and/or constraints, various forms of project structures have been developed. The focus of this paper is on legal and business issues which arise in international project finance, using U.S.project finance as a model that expresses the risk profile that U.S. financial institutions are accustomed to and overlaying the unique risks that are added to project financing which are international in nature

  11. Projects financing in the hydrocarbons sector: a necessary help in some cases

    International Nuclear Information System (INIS)

    Musset, O.; Salles, E.

    2003-01-01

    French banks are in the forefront of the financing of international projects of the petroleum industry. Among these banks, the most active one is certainly Societe Generale, which ranks second at the world scale and first in the Middle-East area for 2002. With a significant presence in the hydrocarbons sector, it participates also to the development of projects as huge as the BTC pipeline between Bakou and Ceyhan and the ELNG gas liquefaction project in Egypt in association with Gaz de France company. This paper reprints an interview of O. Musset, director of project and sectorial finance of Societe Generale. (J.S.)

  12. MANAGEMENT ACCOUNTING IN EUROPEAN SOCIAL FUND FINANCED PROJECTS IN ROMANIA

    OpenAIRE

    Dogar Cristian; Tatiana Dãnescu

    2012-01-01

    Associating spent amounts in European Social Fund (ESF) financed interventions to eligible activities could be important premises for safeguarding the sound financial management principle. Incorporating management accounting in the beneficiaries accounting systems may provide primary warranties about compliance to the above mentioned principle as described in the EC Regulation 1605-2002 This study aims to explore some facts in actual accounting management implementation, as a base for future ...

  13. DOE Energy Challenge Project

    Energy Technology Data Exchange (ETDEWEB)

    Frank Murray; Michael Schaepe

    2009-04-24

    Project Objectives: 1. Promote energy efficiency concepts in undergraduate and graduate education. 2. Stimulate and interest in pulp and paper industrial processes, which promote and encourage activities in the area of manufacturing design efficiency. 3. Attract both industrial and media attention. Background and executive Summary: In 1997, the Institute of Paper Science and Technology in conjunction with the U.S. Department of Energy developed a university design competition with an orientation to the Forest Products Industry. This university design competition is in direct alignment with DOE’s interests in instilling in undergraduate education the concepts of developing energy efficient processes, minimizing waste, and providing environmental benefits and in maintaining and enhancing the economic competitiveness of the U.S. forest products industry in a global environment. The primary focus of the competition is projects, which are aligned with the existing DOE Agenda 2020 program for the industry and the lines of research being established with the colleges comprising the Pulp and Paper Education and Research Alliance (PPERA). The six design competitions were held annually for the period 1999 through 2004.

  14. Exploring the capital markets and securitisation for renewable energy projects

    Energy Technology Data Exchange (ETDEWEB)

    Haggard, M.E.; Thompson, M.A.; Colonna, S.

    2000-07-01

    This study looks at the opportunities for renewable energy projects to access the bond market to finance projects or refinance existing projects, and what, if anything, is required to facilitate this. In addition, the study looks at the possible use of securitisation to group projects together as a means of dealing with some of the challenges faced by renewables, such as small size relative to most bond issues and the transaction costs. (author)

  15. Exploring the capital markets and securitisation for renewable energy projects

    International Nuclear Information System (INIS)

    Haggard, M.E.; Thompson, M.A.; Colonna, S.

    2000-01-01

    This study looks at the opportunities for renewable energy projects to access the bond market to finance projects or refinance existing projects, and what, if anything, is required to facilitate this. In addition, the study looks at the possible use of securitisation to group projects together as a means of dealing with some of the challenges faced by renewables, such as small size relative to most bond issues and the transaction costs. (author)

  16. Financing arrangements for nuclear power projects - past and present experience and future expectations

    International Nuclear Information System (INIS)

    Ispas, G.

    2004-01-01

    The intent of the author of the present paper is to demonstrate, in a practical manner, the role of the past experience and the new approaches of the nuclear projects financing, especially as nuclear generation financing in developing countries involves complex issues that need to be fully understood and dealt with by all the parties involved, namely: high investment costs, generally long construction periods, a high degree of uncertainty with respect to costs and schedule and to public acceptance, particularly because of safety, waste disposal and non-proliferation issues. Moreover, as many associations whose activities consist of ensuring and facilitating at different levels the exchange of knowledge between generations, i.e.: European Nuclear Society (ENS) Young Generation, North American Young Generation in Nuclear (NA-YGN), the goal of the paper is also to outline the importance of the education in nuclear field, i.e. training a young team of specialists to be ready to take over the movement and responsibility in continuing the further development of nuclear program in Romania, mainly with view to the Financing Arrangements for Nuclear Power Projects. The first part of the paper is referring to general financing procedures, while the second part is focusing on a case study related to the: past experience the financing scheme of Cernavoda NPP Unit 1, present or actual experience ongoing financing issues for Cernavoda NPP Unit 2 and potential future shared contribution to the financing of the next Cernavoda NPP units.(author)

  17. Public School Finance Assessment Project Aligned with ELCC Standards

    Science.gov (United States)

    Risen, D. Michael

    2008-01-01

    This is a detailed description of an assessment that can be used in a graduate level of study in the area of public school finance. This has been approved by NCATE as meeting all of the stipulated ELCC standards for which it is designed (1.1, 1.2, 1.3, 1.4, 1.5, 2.1, 2.2, 2.3, 2.4, 3.1, 3.2, 3.3, 4.1, 4.2, 4.3, 5.1, 5.2, 5.3.). This course of…

  18. DEVELOPMENT OF THE INTERNATIONAL EDUCATIONAL PROJECT IN FINANCE

    Directory of Open Access Journals (Sweden)

    Bekareva S. V.

    2017-09-01

    Full Text Available The article highlights the experience in scientific research organized for the Bachelor foreign students of Economics Department of Novosibirsk National Research State University (NSU who study finance on the third year of the educational program “International Finance”. It was specially created for the students of Chinese-Russian Institute, Harbin, China. This item of the educational program is new and was approved for the first time in the 2016/2017 academic year. It is supposed that its application will favor development of the students’ skills and intensification of the international professors’ cooperation.

  19. Project finance risk evaluation of the Electric power industry of Serbia

    International Nuclear Information System (INIS)

    Makajic Nikolic, Dragana; Jednak, Sandra; Benkovic, Sladana; Poznanic, Vladimir

    2011-01-01

    From the aspect of the development of a country, the energy sector represents a domain of strategic interest. Generation and use of energy resources most often belongs to the public sector, and are most often under the influence of the government in most countries. This paper analyzes the risks that are characteristic to the business of the public enterprise, Electric Power Industry of Serbia (EPS). EPS has started its restructuring and is adjusting to changes and challenges imposed by the launched reforms in the energy sector. However, due to certain limitations, it is still not possible to implement its complete restructuring and modernization. The paper aims to point at the risks a potential strategic partner faces. The risks have been identified as commercial, financial and political, classification immanent for project finance, and their evaluation was done using Failure Mode and Effects Analysis (FMEA). Risk analysis was performed based on current conditions for two potential scenarios that predict different types of changes in the analyzed period. The results of the analysis show that the potential strategic partner should pay special attention to price risks, estimation, investments, project activity neglect, quasi-risks and debt collection. - Highlights: → Paper analyze all risks characteristic for business running of the public enterprise EPS. → Potential strategic partner faces with the commercial, financial and political risks. → Risk analysis was done using FMEA. → Results are indicating high risk of investing in EPS. → The highest risks are commercial risks, especially price risks.

  20. Examining possible relationship between carbon finance availability and growth of wind energy

    Directory of Open Access Journals (Sweden)

    Collins C Ngwakwe

    2014-09-01

    Full Text Available This paper evaluates the possible relationship between carbon fund availability and the growth of wind energy. This has become apposite considering global quest for renewable energies as a veritable option for carbon reduction and sustainable development. Whilst some extant literature blames delay in climate policy as an obstacle to green energy, others regard carbon finance availability as a booster to renewable energy. Raging argument is that similar to any other investment, renewable energy finance availability may mar or catalyse growth in renewable energy. Consequently, in this paper, a conceptual overview of carbon finance and renewable energy is undertaken and a test of the relationship between the World Bank carbon finance availability and wind energy growth is conducted. The result indicates a significant positive relationship between World Bank carbon financing and global growth in wind energy. The paper thus concludes that aside from policy options, renewable energy financing seems to be a contributory catalyst that may spur improvement in global renewable energy. The paper highlights that achieving green economic development in developing countries would depend, not only on climate policies alone, but also on sustainable financing. Hence government and private sources of funding is very desirable in achieving global green economic development, most importantly, for developing economies. The paper thus offers a research agenda on awareness creating for local and international sources of green energy for developing countries.

  1. Financing Solar Energy Systems with Energy Savings Performance Contracts in the Federal Sector: Results of a Survey on Barriers

    Energy Technology Data Exchange (ETDEWEB)

    Gee, R. C.; LaPorta, C.

    1999-08-17

    This report summarizes the findings of an investigation into financing solar energy systems for the Federal sector. The objectives of the investigation were (1) to identify the barriers that impede companies from using Energy Savings Performance Contracts (ESPCs) to develop solar energy projects for Federal facilities, and (2) to clarify the impacts of Federal contracting requirements on energy service companies' use of ESPCs. Twenty-four representatives of energy service companies agreed to be interviewed. Their responses indicate that these are the primary barriers to greater use of ESPCs: the relatively long payback periods for investments in solar technologies; the length of the ESPC process; the cost of certain contractual requirements regarding wages and financing; and a lack of knowledge about the actual cost and reliability of solar systems. The report proposes a number of actions the government could take to remove these barriers, including (1) streamlining and shortening the ESPC process and (2) doing more to inform both government agencies and energy service companies about the costs and benefits of solar systems.

  2. Utilising Planning and Financing Strategies in the Management of Community Development Projects in Enugu State, Nigeria

    Science.gov (United States)

    Obetta, Chukwuemeka K.; Oreh, Catherine I.

    2017-01-01

    Utilisation of community management strategies is an approach to governance that is based on community and organisational involvement. Communities with development projects have formed community projects management committees (CPMCs) that are encouraged to adopt the community management strategy in the planning and financing of community…

  3. Piercing the sovereign ceiling: Issues in oil and gas project financing

    International Nuclear Information System (INIS)

    Coleman, T.S.

    1998-01-01

    In the oil and gas sector, corporations and governments face huge capital spending requirements in order to transform large resource discoveries into producing, cash-generating assets. A significant portion of this funding is expected to be done on a project finance basis, where bank lenders or bond investors take a secured position in financing a discrete project, with the expectation of being paid back by the cash flows from that project after completion. This trend is increasing demand for crediting rating services to provide credit ratings for these project financings. A key challenge is to analyze and rate credit-worthy projects in countries that have relatively low foreign currency sovereign ceilings due to economic, political, and financial risks. In most cases, the credit ratings for projects financed in currencies outside the host country are capped at the country''s foreign currency ceiling. However, in a few instances, mainly in the oil and gas sector, Moody''s has pierced the foreign currency ceiling or rated certain projects above the sovereign ratings of the countries where they are domiciled. The purpose of this article is to briefly explain some of the qualitative factors and considerations that have allowed Moody''s to pierce the ceiling in the oil and gas sector, with a focus on two recent and noteworthy projects: Ras Laffan Liquefied Natural Gas in Qatar and Petrozuata in Venezuela

  4. Explaining the contract terms of energy performance contracting in China: The importance of effective financing

    International Nuclear Information System (INIS)

    Li, Yan; Qiu, Yueming; Wang, Yi David

    2014-01-01

    Energy service company (“ESCO”) uses Energy Performance Contracting (“EPC”) to provide energy-saving services to its clients. Under an EPC, both ESCO and the client invest in the energy efficiency measures, according to a negotiated share of investment. Within the length of the contract, the ESCO and its client divide up the saved energy bill according to a negotiated share. Once the contract expires, the client claims all of the saved energy bills if the energy efficiency measures still last. Different EPC projects have different contract terms, including total investment, share of investment and length of contract. These contract terms directly determine the resulted energy savings. Thus it is essential and important to look at how these contract terms are formed and what are the major influencing factors. This paper first builds a theoretical bargain model between ESCO and its client to find out the structural relationship among these contract terms. Then, using the information of about 140 EPC contracts in China in 2010 and 2011, the paper empirically estimates the impacts of various factors on the contract terms and the resulted energy savings. We find that cost of capitals for ESCOs and the clients, especially for ESCOs, is a major factor influencing contract terms and the resulted energy savings. Thus providing effective financing is critical for the development of EPC in China. - Highlights: • We build a theoretical bargain model between an ESCO and its client. • We empirically quantify the impacts of various factors on EPC contract terms. • Cost of capital is a key factor determining EPC contract terms. • Providing effective financing, especially for ESCOs is important

  5. Map of projects of energy efficiency and of renewable energies by the AFD and FFEM

    International Nuclear Information System (INIS)

    Briand, Claude; Ries, Alain

    2008-04-01

    The AFD (the French Agency for Development) and the FFEM (French Fund for World Environment) are involved in cooperation and partnership projects for the development of energy efficiency, notably, but not only, in developing and emerging countries. This report proposes a review and an analysis of these projects in terms of concerned sectors, interveners, type of financing, and geographical area. It also comments and discusses the evolutions of financial commitments. In a second part, and based on these experiences, the report highlights the starting conditions for projects in energy efficiency. These conditions are distinguished in terms of national context, of economic conditions, of financing, of technical capacities, and of environmental and social factors

  6. Effectiveness evaluation of the R&D projects in organizations financed by the budget expenses

    Science.gov (United States)

    Yakovlev, D.; Yushkov, E.; Pryakhin, A.; Bogatyreova, M.

    2017-01-01

    The issues of R&D project performance and their prospects are closely concerned with knowledge management. In the initial stages of the project development, it is the quality of the project evaluation that is crucial for the result and generation of future knowledge. Currently there does not exist any common methodology for the evaluation of new R&D financed by the budget. Suffice it to say, the assessment of scientific and technical projects (ST projects) varies greatly depending on the type of customer - government or business structures. An extensive methodological groundwork was formed with respect to orders placed by business structures. It included “an internal administrative order” by the company management for the results of STA intended for its own ST divisions. Regretfully this is not the case with state orders in the field of STA although the issue requires state regulation and official methodological support. The article is devoted to methodological assessment of scientific and technical effectiveness of studies performed at the expense of budget funds, and suggests a new concept based on the definition of the cost-effectiveness index. Thus, the study reveals it necessary to extend the previous approach to projects of different levels - micro-, meso-, macro projects. The preliminary results of the research show that there must be a common methodological approach to underpin the financing of projects under government contracts within the framework of budget financing and stock financing. This should be developed as general guidelines as well as recommendations that reflect specific sectors of the public sector, various project levels and forms of financing, as well as different stages of project life cycle.

  7. Small scale renewable solar energy and the best result project

    Energy Technology Data Exchange (ETDEWEB)

    Bilbao, J.; Miguel, A.H.; Perez-Burgos, A.M. [Valladolid Univ. (Spain)

    2008-07-01

    The European Community has established programmes with different Projects in relation with the develop of an energy system according to de Kyoto objectives, improving energy efficiency, maintaining security supply and doubling the share of renewable energy use. The Best Result Project (Building and Energy Systems and Technology in Renewable Energy Sources Update and Linked Training), is financed by the European Commission, Intelligent Energy Agency (EIE) and the project objectives are to develop training and diffusion activities in the field of Renewable Energy Technology. The project aims to raise the renewable energy knowledge among suppliers and general public. The project activities are: basis and specialized training events, workshops, meetings, visits and e-learning common platform. The final objective is to extend the market of small scale RES applications in the building and energy sector through common and local activities addressing RES suppliers and consumers. (orig.)

  8. Export development financing

    International Nuclear Information System (INIS)

    Balint, J.

    1995-01-01

    The main activities of the Export Development Corporation (EDC) were described, as well as some of the changes currently being implemented. EDC is Canada's official export credit agency, providing risk management services such as insurance, loans, guarantees, equity and leasing. EDC's project finance initiative started in 1991, and focused mainly on the up-front process. It has established itself as a recognized leader in project financing. It has over 15 years experience in a variety of sectors and countries. Energy projects financed to date include hydro projects in India, Argentina and Pakistan, and thermal projects in Thailand, China, Indonesia and Egypt. Lending criteria used to select projects were outlined, along with the risks endemic to project financing

  9. Slow Money for Soft Energy: Lessons for Energy Finance from the Slow Money Movement

    Energy Technology Data Exchange (ETDEWEB)

    Kock, Beaudry E. [Environmental Change Institute, University of Oxford, Oxford (United Kingdom)], e-mail: beaudry.kock@ouce.ox.ac.uk

    2012-12-15

    Energy infrastructure is decarbonizing, shifting from dirty coal to cleaner gas- and emissions-free renewables. This is an important and necessary change that unfortunately risks preserving many problematic technical and institutional properties of the old energy system: in particular, the large scales, high aggregation, and excessive centralization of renewable energy infrastructure and, importantly, its financing. Large-scale renewables carry environmental, social and political risks that cannot be ignored, and more importantly they may not alone accomplish the necessary decarbonization of the power sector. We need to revive a different approach to clean energy infrastructure: a 'softer' (Lovins 1978), more distributed, decentralized, local-scale strategy. To achieve this, we need a fundamentally different approach to the financing of clean energy infrastructure. I propose we learn from the 'Slow Money' approach being pioneered in sustainable agriculture (Tasch 2010), emphasizing a better connection to place, smaller scales, and a focus on quality over quantity. This 'slow money, soft energy' vision is not a repudiation of big-scale renewables, since there are some societal needs, which can only be met by big, centralized power. But we do not need the level of concentration in control and finance epitomized by the current trends in the global renewables sector: this can and must change.

  10. Investment requirements in the energy sector and their financing

    Energy Technology Data Exchange (ETDEWEB)

    Diel, R; Radtke, G; Stoesel, R

    1981-06-01

    The present research study illustrates the required volume of investment in the energy sector during the next two decades while referring explicitly to the availability of financial resources. The data for the respective primary energy sources and electric power production relate to the Federal Republic of Germany; still, as far as figures were available, the energy situation of the Western World is taken into account. Starting from the premise that energy needs will continue to grow - albeit at a slower rate -, future investment activity will have to depart from past trends, with their more or less evenly spread recourse to all available primary energy sources, to a substantial reliance on nuclear energy, coal and natural gas as against oil. In addition to the higher capital requirements due to the restructuring of the energy supply, future investment will be characterized by particularly capital-intensive projects and, in addition, by the fact that expensive development schemes must be vigorously pursued. This applies not only to coal gasification and liquifaction but also to regenerative energy sources.

  11. Geothermal energy in Italy - its importance, potential and projects

    International Nuclear Information System (INIS)

    Berger, W.

    2005-01-01

    This article discusses the perspectives for the use of geothermal energy in Italy. Starting with an overview of the principles of the use of geothermal energy in general, the article goes on to review Italy's geothermal resources and their relevance to energy supply. Figures are given on the political situation in Italy concerning energy and the rapidly increasing demands made on electricity supply. Political support for renewable energy in Italy is looked at and models for financing projects are examined. Examples of geothermal energy projects are given and the perspectives for further developments in this industry are looked at

  12. Arrangement of financing for highway infrastructure projects under the conditions of Public–Private Partnership

    Directory of Open Access Journals (Sweden)

    Vialeta Khmel

    2016-03-01

    Full Text Available This study focused on the mechanism of attracting funds to finance projects in the field of highway infrastructure construction through Public–Private Partnership (PPP. The basis and principles for development of the financial strategy of a project company were defined in this paper. The proposed financial strategy was developed on the basis of diversification of sources of funds and financing instruments with regard to the stages of the project life cycle. The parameters for development of the financial strategy were defined to improve the mechanisms of attraction of the capital for the project and increase the capacity of the project company to pay debts. The proposed financial strategy can be taken as a basis for development of the financial strategy for any project implemented through PPP. The capital market is not stable; therefore, in addition, an algorithm was proposed for more precise selection of sources of financial resources.

  13. Ownership options, financing structures, and regulatory considerations affecting independent power production projects

    International Nuclear Information System (INIS)

    Knapp, G.M.

    1990-01-01

    In this paper is a framework for analysis of the legal, financing, and policy differences between independent power production projects (IPPs) and projects with qualifying facility status (QFs) under the Public Utility Regulatory Policies Act (PURPA). At a basic level, there is no fundamental difference in types of ownership and financing structures available to IPPs and QFS. The key consideration, though, is the regulatory and legal implications to project participants. Significant issues arise for equity participants, lenders, developers, and project operators that are considering IPP projects. Of course, many of these same issues apply to certain types of QF projects that are not fully exempt from the Public Utility Holding Company Act (PUHCA) and the Federal Power Act (FPA)

  14. Financing Distributed Generation

    Energy Technology Data Exchange (ETDEWEB)

    Walker, A.

    2001-06-29

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market.

  15. Financing Distributed Generation

    International Nuclear Information System (INIS)

    Walker, A.

    2001-01-01

    This paper introduces the engineer who is undertaking distributed generation projects to a wide range of financing options. Distributed generation systems (such as internal combustion engines, small gas turbines, fuel cells and photovoltaics) all require an initial investment, which is recovered over time through revenues or savings. An understanding of the cost of capital and financing structures helps the engineer develop realistic expectations and not be offended by the common requirements of financing organizations. This paper discusses several mechanisms for financing distributed generation projects: appropriations; debt (commercial bank loan); mortgage; home equity loan; limited partnership; vendor financing; general obligation bond; revenue bond; lease; Energy Savings Performance Contract; utility programs; chauffage (end-use purchase); and grants. The paper also discusses financial strategies for businesses focusing on distributed generation: venture capital; informal investors (''business angels''); bank and debt financing; and the stock market

  16. O Impacto do project finance nas empresas portuguesas no setor têxtil

    OpenAIRE

    Ribeiro, Sónia Patrícia dos Santos

    2012-01-01

    Dissertação para a obtenção do Grau de Mestre em Contabilidade e Finanças Orientador: Mestre Adalmiro Álvaro Malheiro de Castro Andrade Pereira A presente dissertação desenvolvida no âmbito do Mestrado em Contabilidade e Finanças pretende analisar o impacto do Project Finance nas empresas portuguesas no setor têxtil. O Project Finance é uma forma de financiamento de projetos inovadora, muito utilizada nos Estados Unidos e na Europa e que se aplica essencialmente a projetos de grande esc...

  17. Financing Build, Operate and Transfer (BOT) Projects: The Case of Islamic Instruments

    OpenAIRE

    Khan, Tariqullah

    2002-01-01

    Several member countries of the Islamic Development Bank have embarked upon a program of developing and maintaining infrastructure projects by the private sector in the framework of build operate and transfer (BOT) mechanism and its various variants. The present paper reviews these experiences and the peculiar risks associated with investments in these projects as compared to the risks of traditional manufacturing sector and offers a framework for Islamic instruments to finance BOT projects.

  18. Nuclear Energy's Role in the 21. Century: Addressing the Challenge of Financing. Conference Proceedings

    International Nuclear Information System (INIS)

    Ayoub, Rakan; Borovas, George; Burkart, Alex; Gorn, Janet; Cho, Carl; Duncan, Aleshia; ); Gadomski, Chris; Ha, Jaejoo; ); Keppler, Jan Horst; ); Kuchinov, Vladimir; Lipman, Dan; Mathieson, John; McGinnis, Ed; Murphy, Paul; Mussler, Robert; Paillere, Henri; ); Reilly, Fiona; Sadayasu, Motomitsu; Schapiro, Regine; Shropshire, David; ); Duncan, Aleshia; Kmiec, Weronika; Grosch, Gisela; Lundell, Charlotta; Pham Van, Andree; Vuillaume; Allen Hamilton, Booz; Barkatullah, Nadira; Rollat, Xavier

    2016-01-01

    In May 2016, the International Framework for Nuclear Energy Cooperation (IFNEC) held a conference in cooperation with the Nuclear Energy Agency (NEA) on 'Nuclear Energy's Role in the 21. Century: Addressing the Challenge of Financing'. This conference brought together over 150 stakeholders from more than 30 countries, including government representatives and members of the nuclear and finance communities, as well as experts from the NEA and the OECD. Conference participants discussed the primary challenges faced by the markets, including how to secure financing for new nuclear projects, as well as approaches and solutions to such challenges. Through multiple expert presentations, moderated sessions and scenario discussions, participants acquired a better understanding of the unique challenges, approaches and techniques involved in financing new nuclear power plants. Throughout the conference, experts set the stage to understand why financing new NPPs is so difficult and complex. The following are the key challenges identified through discussions: - unstable electricity prices in a liberalized market; - electricity market designs that do not provide investment signals for low-carbon technologies; - insufficient carbon pricing to promote nuclear investments; - explicit governmental support for renewables; - uncertain and changing political support; - poor social and political perception of safety; - historical new nuclear project budget and schedule overruns; - long-term nature of capital investments. Final recommendations for consideration Conclusions were reached through discussions and debate on how to best address the aforementioned challenges. Although not all of these challenges can be resolved, there are methods to address the risks involved and to build the confidence necessary for investment. The key recommendations from the conference for financing new NPPs include: - conduct electricity market reform to level the playing field across all

  19. Facilitating the financing of bioenergy projects in sub-Saharan Africa

    International Nuclear Information System (INIS)

    Hofmann, Michael; Khatun, Kaysara

    2013-01-01

    The purpose of this paper is to identify and develop potential solutions on how to facilitate the financing of bioenergy projects in Sub-Saharan Africa. We focus on four main areas that have been identified from empirical research in achieving this objective; these are: (i) financing, (ii) markets; (iii) trade and (iv) policy. The sources utilised consist of primary and secondary data compilation and analysis. Of particular relevance are the results of a market survey undertaken on funding opportunities, where the perspectives of both, project developers as well as project financiers are taken into account. Results indicate that the four areas cannot be treated autonomously, as they not only overlap but impact each other. There are a number of difficulties for biofuel ventures, not least the nature of the projects themselves, but also around the financing and political landscape of these enterprises. Common solutions which cross cut the four areas are the need to raise awareness and the skillsets, in areas including, financing opportunities, markets, policy, technical aspects among a range of stakeholders involved in biofuel ventures. There is also a necessity to create a supporting framework for the emerging carbon trading-related activities in Africa. - Highlights: ► We identify and develop potential solutions towards facilitating the financing of bioenergy projects in sub-Saharan Africa. ► We focus on four areas to achieve this objective; these are: (i) financing, (ii) markets; (iii) trade and (iv) policy. ► Common solutions which cross cut the four areas are the need to raise awareness and develop skillsets of stakeholders involved.

  20. Private Finance Initiative (PFI for Road Projects in UK: Current Practice with a Case Study

    Directory of Open Access Journals (Sweden)

    Rifat Akbiyikli

    2011-05-01

    Full Text Available The long-term sustainable provision of new and high quality maintained road stock is vitally important, especially in times of economic constraint such as Europe is currently experiencing. The Private Finance Initiative (PFI is one method of financing such large-scale, capital intensive projects. An important aspect of this form of financing projects is that the risks are borne not only by the sponsors but are shared by different types of investors such as equity holders, debt providers, and quasi-equity investors. Consequently, a comprehensive and heuristic risk management process is essential for the success of the project. The proposition made within this paper is that the PFI mechanism provides a Value-for-Money and effective mechanism to achieve this. The structure of this PFI finance and investment on a particular road project therefore enables all project stakeholders to take a long-term perspective. This long-term perspective is reflected in the mechanism of a case study of UK – Class A trunk roads which are examined in detail. This paper presents a novel solution to a modern dilemma.

  1. Report realized in the name of the finances, economy and the plan commission on the project of financing law for 2009 (n. 1127), annex n. 13 ecology, sustainable development and management risks prevention planing of the ecology, the energy, the sustainable development and the territory management policies

    International Nuclear Information System (INIS)

    2008-01-01

    This document presents the law project n. 1127 for 2009, concerning the risks prevention in the framework of the ecology and the sustainable development and management. The first part details the program of risks prevention (technological, pollutions, natural and hydraulic risks, nuclear safety and radioprotection, the mine site rehabilitation). The second part develops the ecology, energy sustainable development and territory management, policies. (A.L.B.)

  2. Review of nuclear new build in relation to project structure, supply chain and financing - 15106

    International Nuclear Information System (INIS)

    Keppler, J.H.; Cometto, M.

    2015-01-01

    The construction of a new nuclear power plant is a major industrial project involving a number of complex economic, technical and regulatory challenges. This article focuses on 2 of the most important among them: first, sustainable financing which is primarily a function of interest rates and the stability of electricity prices and secondly, the management of a complex construction process and its supply chain. The analysis shows the much stronger dependence of nuclear energy on the stability of electricity prices when compared with a gas plant of the same size. Nevertheless the study underlines that at debt ratios below 60%, the risk for a debt-investor in a nuclear project is rather limited even for large electricity and permanent price fall. There exist a wide spectrum of different options for sharing the responsibilities between the ultimate operators of a nuclear power plant and the principal supplier. 3 main categories of contract are used for the construction of NPPs: the turnkey approach, the split-package approach and the multi-contract approach.In construction, where the emergence of a competitive, global supply chain is not yet ensured, the convergence of nuclear engineering codes and quality standards, as well as regulatory harmonisation remain a key step to promote both competition and public confidence

  3. Financing Innovations for the Renewable Energy Transition in Europe

    Directory of Open Access Journals (Sweden)

    Raphael Bointner

    2016-11-01

    Full Text Available Renewable energy sources are vital to achieving Europe’s 2030 energy transition goals. Technological innovation, driven by public expenditures on research and development, is a major driver for this change. Thus, an extensive dataset on these expenditures of the European Member States and the European Commission, dating back to the early 1970s, was created. This paper creates predictive scenarios of public investment in renewable energy research and development in Europe based on this historical dataset and current trends. Funding from both, European Member States and the European Commission, between today and 2030 are used in the analysis. The impact on the cumulative knowledge stock is also estimated. Two projection scenarios are presented: (1 business as usual; and (2 an advanced scenario, based on the assumption that the Mission Innovation initiative causes public expenditures to increase in the coming years. Both scenarios are compared to the European 2030 climate and energy framework target sets. Results indicate that Member States in Europe currently tend to fund renewables more than the European Commission, but funding from both sources is expected to increase in the future. Furthermore, the European Commission distributes its funding more equally across the various renewable energy sources than Member States.

  4. Link About It: Information Asymmetry, Knowledge Pooling and Syndication in Project Finance Lending

    NARCIS (Netherlands)

    Contreras, Gaby; Bos, Jaap; Kleimeier, Stefanie

    2018-01-01

    In a collaborative setting, banks have an additional way to deal with asymmetric information between themselves and their borrowers: by pooling information. We explore the extent to which lead arrangers in the project finance syndicated lending market strategically choose their new partners in order

  5. Another Lost Decade? Effects of the Financial Crisis on Project Finance for Infrastructure

    OpenAIRE

    James Leigland; Henry Russell

    2009-01-01

    Rapid growth in project finance, driven by huge increases in liquidity, helped fuel the gains in private participation in infrastructure (PPI) in developing countries in the past decade. But when the financial crisis hit, the excess liquidity began to dry up as lenders backed away from practices that had helped generate it. The effects are already apparent in greater delays in financial cl...

  6. Developing Government Renewable Energy Projects

    Energy Technology Data Exchange (ETDEWEB)

    Kurt S. Myers; Thomas L. Baldwin; Jason W. Bush; Jake P. Gentle

    2012-07-01

    The US Army Corps of Engineers has retained Idaho National Laboratory (INL) to conduct a study of past INL experiences and complete a report that identifies the processes that are needed for the development of renewable energy projects on government properties. The INL has always maintained expertise in power systems and applied engineering and INL’s renewable energy experiences date back to the 1980’s when our engineers began performing US Air Force wind energy feasibility studies and development projects. Over the last 20+ years of working with Department of Defense and other government agencies to study, design, and build government renewable projects, INL has experienced the do’s and don’ts for being successful with a project. These compiled guidelines for government renewable energy projects could include wind, hydro, geothermal, solar, biomass, or a variety of hybrid systems; however, for the purpose of narrowing the focus of this report, wind projects are the main topic discussed throughout this report. It is our thought that a lot of what is discussed could be applied, possibly with some modifications, to other areas of renewable energy. It is also important to note that individual projects (regardless the type) vary to some degree depending on location, size, and need but in general these concepts and directions can be carried over to the majority of government renewable energy projects. This report focuses on the initial development that needs to occur for any project to be a successful government renewable energy project.

  7. For a conditional financing of low carbon risky projects

    International Nuclear Information System (INIS)

    Meunier, Guy; Ponssard, Jean-Pierre

    2016-09-01

    Subsidies are extensively used for promoting the deployment of green technologies (renewables, clean development mechanism, electric vehicles...). Such policies may generate high windfall profits: some of the projects that benefited from the subsidies would have been undertaken anyway. The paper formalizes this situation using a simple principal agent framework under adverse selection. The agent may invest or not and obtain some private benefit in case of success. The principal observes both the investment and the eventual success, which generates a social benefit. Under some conditions it is shown that a subsidy paid conditional on failure (and not on success) limits the windfall profit while encouraging a large portfolio of projects to be invested. The relevance of this policy is discussed in the context of facilitating investment for infrastructure for fuel cell electric vehicles. (authors)

  8. The Asian Development Bank's past and future involvement in financing gas projects in developing member countries of the Bank

    International Nuclear Information System (INIS)

    Chua, S.B.

    1991-01-01

    This paper presents a review of the Bank's involvement in financing gas projects in its developing member countries (DMC's). The paper highlights the scope of the Bank's past activities in the sector, the DMC's which had received assistance from the Bank, the types of projects financed by the Bank, the benefits expected to be derived from the projects, and the past problems encountered by the Bank. The operational framework under which past Bank lending to the gas sector was conducted is also described. The prospects of natural gas playing a prominent role as an environmentally preferred energy source to oil and coal are outlined. Indications of the direction of the Bank's future efforts to help its gas-resource-rich as well as its gas-resource-poor DMC's to quicken the use of natural gas are given. While emphasizing the Bank's contributions in helping its DMC's to increase gas supply to alleviate energy shortages, the paper stresses the important role the Bank has played and will play in institution-building and sector-development work. The paper explores the possibility for the Bank to expand its operations in the gas sector which will lead to the efficient and accelerated development of a clean energy source that will help its DMC's avoid a third oil crisis and reduce the damaging build-up of a greenhouse gas which now threatens to harm the global environment

  9. Istota finansowania na zasadach project finance i jego zastosowanie w rozwoju gospodarczym Polski w perspektywie przystąpienia do Unii Europejskiej

    OpenAIRE

    Bujnowicz, Iwona

    2004-01-01

    Project finance has been used for decades in Western countries to found major resource and infrastructure projects in a manner which is satisfactory and beneficial to the sponsors and financiers alike. Central and Eastern Europe represents the next frontier for successful project finance transactions. Project finance refers to the financing of long-term infrastructure, industrial projects and public services based upon a non-recourse or limited recourse financial structure where project debt ...

  10. Report realized in the name of the finances, economy and the plan commission on the project of financing law for 2009 (n. 1127), annex n. 13 ecology, sustainable development and management risks prevention planing of the ecology, the energy, the sustainable development and the territory management policies; Rapport fait au nom de la commission des finances, de l'economie generale et du plan sur le projet de loi de finances pour 2009 (n. 1127), annexe n. 13 ecologie, developpement et amenagement durables prevention des risques conduite et pilotage des politiques de l'ecologie, de l'energie, du developpement durable et de l'amenagement du territoire

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2008-07-01

    This document presents the law project n. 1127 for 2009, concerning the risks prevention in the framework of the ecology and the sustainable development and management. The first part details the program of risks prevention (technological, pollutions, natural and hydraulic risks, nuclear safety and radioprotection, the mine site rehabilitation). The second part develops the ecology, energy sustainable development and territory management, policies. (A.L.B.)

  11. Impact of Research and Development, Analysis, and Standardization on PV Project Financing Costs

    Energy Technology Data Exchange (ETDEWEB)

    Feldman, David J [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Margolis, Robert M [National Renewable Energy Laboratory (NREL), Golden, CO (United States); Jones-Albertus, Rebecca [U.S. Department of Energy

    2018-04-02

    The technical report discusses how R and D efforts focused on removing perceived risk from cash flows to investors have the potential to lower the cost of capital and increase the amount of leverage in a solar project. It also discusses how creating business efficiencies that allow financing transactions to occur more quickly with less effort can reduce the upfront costs associated with arranging financing for a solar project or group of projects. The paper then assesses the impact that these R and D activities might have on the volatility of PV asset cash flows and asset value, as well as the upfront costs of arranging a financial transaction. Finally, we insert these assumptions into financial models to analyze their impacts on the cost of capital for equity and debt investors, project leverage, and upfront financial transaction costs.

  12. Hydropower projects financing through the public private partnership a future powered by hydro

    International Nuclear Information System (INIS)

    Oprea, Traian; Teleanu, Mihai; Dobrescu, Dan

    2004-01-01

    /////In the frame of economy type that characterized Romania before 1990, the infrastructure and public utilities development, from which the hydropower sector is integral part, was ensured from public funds. The power generation belongs to the public services, which make profits on an average or long terms, in the benefit of the society. The demand for these services is increasing because of both economical increasing and the private sector weight in economy increasing. But, the quality increasing of these services needs investments, that is access to the long-term loans. Romanian banks are not prepared for long-run loans, and the international agencies don't have sufficient investment funds for all necessary projects. One of the options is or, could be, the transfer of entirely responsibility for infrastructure in the private sector hands, but this is not feasible in many cases. For this reason the government can choose a middle way realizing a private public partnership for solving the problem of the investment funds. In a general manner, this scenario consists in the fact of appealing to the private sector to finance, build and operate, for a limited period, an infrastructure, power or tourism project, necessary to the development. The impact zone between the public sector interest and private sector interest defined the concept of 'private public partnership' in its multiple alternatives (BOT, BOO, BOOT, ROT, etc.). The first official mentioning of a project in private public development under the name of BOOT 'Build, Own, Operate, Transfer' has been used in Turkey, in 1984, by the prime-minister ever since, Turgut Ozal, as part of a huge development program through the privatization in the power sector, infrastructure and tourism. The 'private public partnership' concept was studied and promoted, beginning with '95 years by the European Community too, with the view of this financing model utilization to the infrastructure projects development. One of the most

  13. Assessing Discount Rate for a Project Financed Entirely with Equity Capital

    Directory of Open Access Journals (Sweden)

    Nicoleta Vintila

    2007-09-01

    Full Text Available Estimating discount rate for an investment project is one of the most challenging tasks incapital budgeting. In this paper we discuss different kind of models for cost of equity capital proposed infinance literature (static CAPM, conditional CAPM, APT, build-up model, focusing especially on advantagesand disadvantages of using each of them. In the final section, we estimate the discount rate fora certain project financed entirely with equity capital, using a version of build-up model.

  14. Decision Model on Financing a Project Using Knowledge about Risk Areas

    OpenAIRE

    Ioana POPOVICI; Emil SCARLAT; Francesco RIZZO

    2011-01-01

    The research presents an alternative to the classical method of measuring financial risk in funding a project. The goal of the model described in the paper implies identifying "risky areas" within the financial balance of the project. The model analysis the financial risk behavior studied along four scenarios by varying only the cost of financing source used according to the specific type of funding. The model introduces the time factor into the analysis of financial risk due to the specific ...

  15. FINANCING OF INVESTMENT PROJECTS OF GAS DISTRIBUTION ENTERPISES AS A FACTOR OF THEIR DEVELOPMENT

    Directory of Open Access Journals (Sweden)

    Svitlana Korol

    2016-03-01

    Full Text Available In the article theoretical questions of formation sources of financing investments   are  considered, the analysis of investment activities is carried out by the sources of funding for gas  utility. The purpose of this article is to identify priority sources of financing investment activities of gas distribution enterprises. The  methodology  of  research.  To  achieve  this  goal  the  author  used  methods  of  theoretical generalization; statistical and financial methods in the study of dynamics and structure of  investment; tabular methods to display the structure of the main sources of financing of  the  investment program of gas distribution enterprises; consistency and comparison, to determine the relationship between the main components of investment sources of financing. As a result of research by critical retrospective analysis to determine the structure of sources of financing investment activities of gas distribution enterprises. It is established that the main sources of financing the investment program are the tariffs for transportation and supply of gas, says the national Commission, carrying out state regulation in the areas of energy and  utilities (NCREU. It is filed the structure of the main financing sources of the investment  program of gas distribution enterprises. It is proved that the level of funding depends on the size  of NCREU rates and gas consumption. Scientific novelty of the article is lack in domestic and foreign areas of research priority  selection of sources financing of the investment program for gas distribution enterprises. The practical significance is that the theoretical concepts, practical results and conclusions of  articles that reveal the essence of the problem of investment sources of financing, can be used in  the activity of gas distribution enterprises taking into account the current state of development  of the economy. Keywords: investment  resources,  financing

  16. The Borrower's Guide to Financing Solar Energy Systems - A Federal Overview

    Energy Technology Data Exchange (ETDEWEB)

    Eiffert, P.

    1999-03-30

    This booklet describes authorized lending programs and loan guarantees provided by Fannie Mae, Freddie Mac and several Federal agencies, including DOE, that consumers and businesses can use to finance solar heat or electric systems and energy efficient mortgages.

  17. Research into specific risk assessment in project financing

    Directory of Open Access Journals (Sweden)

    Ivana Bestvina Bukvić

    2013-12-01

    Full Text Available An assessment of investment justification in terms of risk enables the decision maker (investor to select, among available alternatives, the one with the most favourable correlation between the expected profit and assumed risk. At the micro level, the uncertainty of business success is extremely high in production activities, which is an additional incentive for taking a comprehensive approach to the issue of investment decision-making and the development of risk assessment techniques applicable in this particular segment of industry. Given the complexity of the manufacturing process, the length of the production cycle, market conditions, and entity-specific risks (which are difficult to measure, projects in manufacturing industry require a detailed and comprehensive assessment of specific risk factors and their cost-effectiveness. Ne - vertheless, since specific risks can be diversified, investment proposal assessments in practice usually do not cover their quantification and analysis. However, the majority of business entities do not have enough active projects in various industries to be able to fully diversify their business and thus minimize the level of specific risks. The impact of specific factors becomes one of the most important elements for business success. This paper analyses how far risk assessment methods regarding specific risks are used in practice. Furthermore, it analyses the significance of specific risks for total investment risk. This study gives new insi - ghts into the significance of specific risks to the overall investment assessment and the need for permanent development of traditionally used investment assessment models.

  18. N.7 notice presented for the Finances Commission, of the budget control and the economical accounts of the Nation on the law project, adopted by the National Assembly after urgency declaration, relative to the energy sector; N.7 avis presente au nom de la commission des Finances, du controle budgetaire et des comptes economiques de la Nation sur le projet de loi, adopte par l'Assemblee Nationale apres declaration d'urgence, relatif au secteur de l'energie

    Energy Technology Data Exchange (ETDEWEB)

    Marini, Ph

    2006-10-15

    This law project concerns the privatization of Gaz de France and the new control of the State on this society. It underlines the necessity of a financial independence of the Commission of the Energy regulation (CRE). (A.L.B.)

  19. THE FINANCIAL TOOLS FOR COVER POLITICAL RISKS IN PROJECT FINANCE

    Directory of Open Access Journals (Sweden)

    S. Naumenkova

    2016-10-01

    Full Text Available This article examines the risk-mitigation in public-private partnership. Today Ukraine is ranked as "CRT-5 country" and has high levels of economic and political risk. Political risk grows steadily because of financial and political instability in Ukraine. We conclude that investors continue to rank political risk as a key obstacle to long-term investing. The tools for cover many types of political risks such as war, terrorism, civil disturbance, breach of contract, export or operating license cancellation, currency inconvertibility and transfer restriction, change of laws and regulations etc. are described by authors. We focus on the advantages of World Bank Group Guarantee products. The guarantee instruments of the three WBG institutions for cover political risks under different circumstances are the most suitable for public-private partnership in Ukraine. In this article the political risk-mitigation with IBRD Partial Risk Guarantee put forward by authors for PPP projects in Ukraine.

  20. Technical assistance for Meharry Medical College Energy Efficiency Project. Final project status and technical report

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    1996-05-08

    This report presents the results of a program to provide technical assistance to Meharry Medical College. The purpose of the program is to facilitate Meharry`s effort to finance a campus-wide facility retrofit. The US Department of Energy (USDOE) funded the program through a grant to the Tennessee Department of Economic and Community Development (TECD). The University of Memphis-Technology and Energy Services (UM-TES), under contract to TECD, performed program services. The report has three sections: (1) introduction; (2) project definition, financing, and participants; and (3) opportunities for federal participation.

  1. Financing biotechnology projects: lender due diligence requirements and the role of independent technical consultants.

    Science.gov (United States)

    Keller, J B; Plath, P B

    1999-01-01

    An increasing number of biotechnology projects are being brought to commercialization using conventional structured finance sources, which have traditionally only been available to proven technologies and primary industries. Attracting and securing competitive cost financing from mainstream lenders, however, will require the sponsor of a new technology or process to undergo a greater level of due diligence. The specific areas and intensity of investigation, which are typically required by lenders in order to secure long-term financing for biotechnology-based manufacturing systems, is reviewed. The processes for evaluating the adequacy of prior laboratory testing and pilot plant demonstrations is discussed. Particular emphasis is given to scale-up considerations and the ability of the proposed facility design to accommodate significant modifications, in the event that scale-up problems are encountered.

  2. Using commodity-indexed financing to fund OPEC/Alaska's development projects

    International Nuclear Information System (INIS)

    Essayyad, Musa

    1992-01-01

    An impediment to the process of economic diversification in OPEC and Alaska is the lack of favourable access to local and international capital markets to finance development projects, particularly mineral resource development. This paper highlights the importance of commodity-indexed bonds, including oil- and gold- indexed bonds, as a financing alternative to supplement the supply shortage of loanable funds from conventional, local and international commercial banks. The indexation concept is discussed, features of different bonds issued to date are contrasted and the benefits and risks for borrowers and investors are highlighted. An analysis is made of the experience of OPEC and Alaska in using commodity-indexed bonds and the feasibility of Alaska and some OPEC countries entering into commodity-linked-financed joint ventures is examined. Future prospects for commodity-linked bonds are explored. Not withstanding the fact that the immediate market timing is unfavourable, the long-term benefits of commodity-indexed securities are recognized. (U.K.)

  3. Stakeholder views on financing carbon capture and storage demonstration projects in China.

    Science.gov (United States)

    Reiner, David; Liang, Xi

    2012-01-17

    Chinese stakeholders (131) from 68 key institutions in 27 provinces were consulted in spring 2009 in an online survey of their perceptions of the barriers and opportunities in financing large-scale carbon dioxide capture and storage (CCS) demonstration projects in China. The online survey was supplemented by 31 follow-up face-to-face interviews. The National Development and Reform Commission (NDRC) was widely perceived as the most important institution in authorizing the first commercial-scale CCS demonstration project and authorization was viewed as more similar to that for a power project than a chemicals project. There were disagreements, however, on the appropriate size for a demonstration plant, the type of capture, and the type of storage. Most stakeholders believed that the international image of the Chinese Government could benefit from demonstrating commercial CCS and that such a project could also create advantages for Chinese companies investing in CCS technologies. In more detailed interviews with 16 financial officials, we found striking disagreements over the perceived risks of demonstrating CCS. The rate of return seen as appropriate for financing demonstration projects was split between stakeholders from development banks (who supported a rate of 5-8%) and those from commercial banks (12-20%). The divergence on rate alone could result in as much as a 40% difference in the cost of CO(2) abatement and 56% higher levelized cost of electricity based on a hypothetical case study of a typical 600-MW new build ultrasupercritical pulverized coal-fired (USCPC) power plant. To finance the extra operational costs, there were sharp divisions over which institutions should bear the brunt of financing although, overall, more than half of the support was expected to come from foreign and Chinese governments.

  4. Power project finance outside the U.S.: S and P's rating perspective

    International Nuclear Information System (INIS)

    Chew, William

    1994-01-01

    The growing prevalence of capital market debt financing for power projects outside the U.S. highlights the importance of understanding the risks this type of project poses, both for sponsors and potential investors. Based on its initial review of non-U.S. projects, S and P believes the stronger among them clearly have the potential to achieve ratings equal to or higher than those of U.S. projects. Nevertheless, sponsors still will need to address some of the risks such projects entail. S and P has established criteria that apply to power projects in all markets; however, it also has identified additional risks for projects outside the U.S. that should be addressed. (author)

  5. Creation of an Energy Shift Financing Agency (SFTE) - Operational feasibility study September 2013 - June 2014. Creation of the Energy Shift Financing Agency (SFTE) - Operational feasibility study, Working Group no. 4 'legal structuring' - Synthesis report

    International Nuclear Information System (INIS)

    Ortega, Olivier; Emin, Guillaume; Illouz, Sebastien; Grandjean, Alain; Deguet, Gilles; Deramecourt, Philippe; Barraud, Philippe; Masseran, Olivier; Gourvil, Ronan; Cucchiarini, Christian; Coloos, Bernard; Djemaoun, Assiba; Touati, Julien; Bel Hermile, Arnaud le; Pouyet, Regis; Foriel, Alain; Trocme, Maxime; Pentecoste, Jerome; Lepetit, Michel; Bocquet, Rodolphe; Ferveur, Christian; Peron, Matthieu

    2014-10-01

    The SFTE project aims to establish a broad partnership between public and private entities to stimulate the economy and deliver between euros 180 bn and euros 420 bn of investment in Europe over 10 years for the benefit of medium-sized projects (in the order of euros 1 m) that are necessary for the energy transition. It will enable EU banks to finance the energy renovation of public buildings under excellent - cheap and long-term - conditions. A feasibility study has been conducted by the AFTER association with an exemplary consortium of public and private stakeholders in France: local authorities, industry players, banks/financial institutions, NGOs, Plan Batiment Durable. Many European institutions have expressed their interest in the initiative. Now the implementation of the SFTE project requires a commitment from European and national public authorities. Such a proactive real-estate policy would significantly contribute to economic recovery, cut costs, CO_2 emissions and the external deficit and improve energy independence, and could quickly create jobs. This document is the executive summary of the Operational feasibility study carried out from September 2013 to June 2014. It is followed by the SFTE project's legal structuring study carried out by the Association for the Financing of the Ecological Transition and Thermal Renovation (AFTER) working group

  6. PROJECT APPROACH TO ENERGY MANAGEMENT

    Directory of Open Access Journals (Sweden)

    Інга Борисівна СЕМКО

    2016-02-01

    Full Text Available Project management is widely used around the world as a tool to improve business performance. Correct implementation of the program of implementation of energy efficiency is accompanied by the adoption of an appropriate legislative framework, support programs, the approval of market-based instruments. Currently, it is paying enough attention to the effective application of market-based instruments, although most of the activities in the field of energy efficiency from the economic side are quite profitable. The authors suggested the use of the methodology of project management to the management of energy-saving measures, new approaches to the place and role of project management in the hierarchy of guidance. As a result, this innovation can improve the competitiveness of enterprises. The conclusions that the energy-saving project management allows you to get the best results for their implementation by reducing the time, resources, risk reduction.

  7. Opinion presented on the behalf of the Commission for Economic Affairs on the finance bill project for 2015 (nr 2234) - Volume III - ecology, sustainable development and mobility - energy. Nr 2262

    International Nuclear Information System (INIS)

    Battistel, Marie-Noelle

    2014-01-01

    After a presentation of budgetary allocations for energy, this report discusses the participation of agriculture to energy transition, particularly with the emergence of farmers who are also energy producers (development of photovoltaic on agricultural hangars, development of anaerobic digestion supported by public policies), and the development of a French model of anaerobic digestion oriented towards circular economy (reasons for supporting anaerobic digestion, solutions to boost the sector). The last part addresses the management of consumption by farmers and how to take a new energy problematic into account: as agriculture is a sector highly dependent on energy and with a high consumption of fossil energies, efforts are made to reduce this consumption and improve energy efficiency by means of the energy performance plan

  8. Money for nothing: How firms have financed R&D-projects since the Industrial Revolution.

    Science.gov (United States)

    Bakker, Gerben

    2013-12-01

    We investigate the long-run historical pattern of R&D-outlays by reviewing aggregate growth rates and historical cases of particular R&D projects, following the historical-institutional approach of Chandler (1962), North (1981) and Williamson (1985). We find that even the earliest R&D-projects used non-insignificant cash outlays and that until the 1970s aggregate R&D outlays grew far faster than GDP, despite five well-known challenges that implied that R&D could only be financed with cash, for which no perfect market existed: the presence of sunk costs, real uncertainty, long time lags, adverse selection, and moral hazard. We then review a wide variety of organisational forms and institutional instruments that firms historically have used to overcome these financing obstacles, and without which the enormous growth of R&D outlays since the nineteenth century would not have been possible.

  9. Money for nothing: How firms have financed R&D-projects since the Industrial Revolution

    Science.gov (United States)

    Bakker, Gerben

    2013-01-01

    We investigate the long-run historical pattern of R&D-outlays by reviewing aggregate growth rates and historical cases of particular R&D projects, following the historical-institutional approach of Chandler (1962), North (1981) and Williamson (1985). We find that even the earliest R&D-projects used non-insignificant cash outlays and that until the 1970s aggregate R&D outlays grew far faster than GDP, despite five well-known challenges that implied that R&D could only be financed with cash, for which no perfect market existed: the presence of sunk costs, real uncertainty, long time lags, adverse selection, and moral hazard. We then review a wide variety of organisational forms and institutional instruments that firms historically have used to overcome these financing obstacles, and without which the enormous growth of R&D outlays since the nineteenth century would not have been possible. PMID:24910477

  10. Energy research projects in the Nordic countries - catalogue 1983

    International Nuclear Information System (INIS)

    1983-01-01

    The Nordic energy ministers at their meeting February 9, 1982 agreed upon a working plan for the Nordic energy cooperation. As part of this plan a contact group was established in order to maintain coordination and cooperation within the area of energy research and development. This group decided April 1982 to establish a catalogue of energy research projects in the Nordic countries. A pilot catalogue was published in June 1982. The 1983 catalogue gives an up-to-date survey of energy research and development projects in the Nordic countries. About 2125 projects are described, and information is given on investigator(s), performing organization, financing body, funds, and period. The catalogue is prepared by the Nordic energy libraries through their cooperation in Nordic Atomic Libraries Joint Secretariat. The information is also included in the data base Nordic Energy Index (NEI), which is online accessible at I/S Datacentralen, Copenhagen, via EURONET, SCANNET, TYMNET, AND TELENET. (BP)

  11. Financing arrangements for nuclear power projects - Past and present experience, future expectations

    International Nuclear Information System (INIS)

    Troncuta, Mariana; Vatamanu, Maria; Ispas, Gheorghe

    2003-01-01

    Nuclear energy is a clean, safe, and economical industrial electricity source, with many environmental benefits. It does not emit greenhouse gases that contribute to climate change, or combustion by-products and acid gases that cause air, water resource and land pollution. Nuclear energy has also many benefits in the areas of medicine, industry, agriculture, and research. Moreover, the results are revealing. Over the past 12 years, from 1900 to 2002, the global 'energy availability factor' - representing the percentage of time that nuclear power plants worldwide were up and running - increased from 72.9% to 83.4%. At the same time, based on statistics gathered by the World Association of Nuclear Operators - WANO, the number of industrial accidents has gone down, radiation exposure has dropped sharply and the annual volume of radioactive waste produced has been reduced substantially. In other words, the safety, performance and economic competitiveness of the nuclear industry are at an all time high, reflecting a mature and vibrant enterprise. These are several reasons why a prospective host nation and other nations around the world may be attracted by nuclear power generation. Nuclear power can be and has been financed by world capital markets. The crucial question is whether host governments and interested utilities are willing to take the steps required to attract investment with reasonable assurance of success, and whether the nuclear industry is willing and able to become competitive in increasingly deregulated financial and electricity markets. The present paper will have the following structure: the first part will refer to general financing guidelines, and the second part will present a case study. The latter will treat the past experience as provided by the financing scheme of Cernavoda NPP Unit 1, the present experience, i.e. ongoing financing issues for Cernavoda NPP Unit 2 and potential future shared contribution to financing Cernavoda NPP Unit 3, 4 and 5

  12. An average-based accounting approach to capital asset investments: The case of project finance

    OpenAIRE

    Carlo Alberto Magni

    2014-01-01

    Literature and textbooks on capital budgeting endorse Net Present Value (NPV) and generally treat accounting rates of return as not being reliable tools. This paper shows that accounting numbers can be reconciled with NPV and fruitfully employed in real-life applications. Focusing on project finance transactions, an Average Return On Investment (AROI) is drawn from the pro forma financial statements, obtained as the ratio of aggregate income to aggregate book value. It is shown that such a me...

  13. A survey of financing possibilities of projects in energetics with emphasis to the market with natural gas

    Directory of Open Access Journals (Sweden)

    Abed Al-Zabidi

    2009-09-01

    Full Text Available With the present expansion of globalization within economic competition of individual countries are stability and economicdevelopment inevitably bound with the term of energy, therefore also the natural gas. Presently, energy is still the most important factorof economic and social development.The critical tempo of energy consumption, entering of new players on the energetic market, quick industrialization of Asiancountries and accordingly growing difference between supply and demand, worries of depletion of the existing sources and worseningof our living environment are all worldwide global problems.The subject of the presented paper is a survey of market with natural gas in Slovakia, possibilities of diversification of sourcesof natural gas, its transport and distribution with the emphasis to the possibilities of financing of projects in energetics.

  14. Financing clean energy market creation. Clean energy ventures, venture capitalists and other investors

    Energy Technology Data Exchange (ETDEWEB)

    Teppo, T. [Helsinki Univ. of Technology, Espoo (Finland). Development and Management in Industry

    2006-07-01

    Many factors have emerged for change towards cleaner and more efficient technologies and services: climate change, increasing oil demands, and rising living standards in many parts of the world are putting an ever-increasing strain on the environment. Recently, these drivers have fueled the formation of a clean energy venture capital market where both independent venture capitalists (VCs) and corporate venture capitalists (CVCs) have invested in clean energy start-ups. Financing of clean energy market creation is the focus of this dissertation. The dissertation contributes to several bodies of literature in the area of entrepreneurship, new industry creation, corporate venturing, and venture capital research. The dissertation uses a grounded theory approach. The study is guided by three data collection approaches with an emphasis on the first two. First, interviews with European and North American VC and CVC firms that have invested in the clean energy sector were carried out. Second, a clean energy venture financing survey that consisted of qualitative, essay-format questions and some quantitative questions was carried out. Third, interviews with clean energy stakeholders were carried out in order to gain a better understanding of the emerging sector. The research results consist of three main findings. First, the research results suggest that clean energy ventures face the following three main entrepreneurial challenges: financing, market education, and growth management. A further study of three clean energy industry categories revealed additional challenges that varied according to the industry development stage. Second, the results demonstrate that, from a venture capitalist perspective, clean energy venture risk characteristics can be divided into two groups: generally recognized risk characteristics and cognitive risk characteristics. The identified generally recognized risk characteristics were market demand and adaptation, incompatibility with the VC model

  15. Talk of Thierry Breton, minister of economy, finances and industry. Talk to the association of economy and finance journalists about national and international energy questions on May 22, 2006

    International Nuclear Information System (INIS)

    2006-01-01

    The French minister of economy, finances and industry explains the reasons of the rise of oil prices (tensions on the supply and demand balance, late recovery of investments in producing countries, geopolitical factors) and the measures that the government wishes to implement in order to bear up this situation: project of merger between Gaz de France and Suez energy groups, change of oil companies behaviour with consumers (automotive fuels price transparency), energy saving information on all energy suppliers advertisements, reinforcement of energy independence (development of renewable energy sources and of alternate automotive fuels). (J.S.)

  16. 工程项目的融资风险管理研究%Financing risk management research project

    Institute of Scientific and Technical Information of China (English)

    王永嘉; 陈璐

    2014-01-01

    The project financing risk management is a very important aspect of project management,in order to strengthen the management of the project financing risk,the paper detailed the financing risk management process describes the project,and the risk financing process analyzed simultaneously to find the financing process problems,and for the emergence of the problem,a project to promote the development of the main financing risk management measures,thus contributing to strengthen risk management and financing of the project.%工程项目的融资风险管理是工程项目管理的一个非常重要的方面,为了加强对工程项目融资风险的管理,本文详细的介绍工程项目的融资风险管理过程,并对融资过程中的风险进行了分析,同时找出了融资过程中出现的问题,并针对出现的问题,提出了促进工程项目融资风险管理发展的主要对策。

  17. Global energy / CO2 projections

    International Nuclear Information System (INIS)

    Sinyak, Y.

    1990-09-01

    Section headings are: (1) Social and economic problems of the 21 st century and the role of energy supply systems (2) Energy-environment interactions as a central point of energy research activities (3) New ways of technological progress and its impacts on energy demand and supply (4) Long-term global energy projections (5) Comparative analysis of global long-term energy / CO 2 studies (6) Conclusions. The author shows that, in order to alleviate the negative impacts of energy systems on the climate, it will be necessary to undertake tremendous efforts to improve the energy use efficiency, to drastically change the primary energy mix, and, at the same time, to take action to reduce greenhouse emissions from other sources and increase the CO 2 sink through enhanced reforestation. (Quittner)

  18. World energy projections to 2030

    International Nuclear Information System (INIS)

    Criqui, P.; Kouvaritakis, N.

    2000-01-01

    This paper provides a description of the international energy projections elaborated with the POLES energy model for the purpose of analysing, in other papers of this issue, the impacts of technological change at world level and to 2030. Section 2 describes the key exogenous hypotheses on population and economic growth used for this projection, as well as the main resulting changes for the world energy system and in terms of CO 2 emissions. In Section 3 the dynamics of the energy systems are further analysed for four main world regions, while Section 4 is dedicated to the identification of the key uncertainties and of their possible impacts on future energy development. Finally, the last section presents the key messages of this outlook, which shows a rapidly growing world economy and energy consumption with increasing oil and gas prices, although this last feature remains subject to uncertainties on resource endowment estimates. (orig.)

  19. Wind power projects in the CDM: Methodologies and tools for baselines, carbon financing and substainability analysis

    DEFF Research Database (Denmark)

    Ringius, L.; Grohnheit, Poul Erik; Nielsen, Lars Henrik

    2002-01-01

    and implications of the various methodologies and approaches in a concrete context, Africa's largest wind farm-namely the 60 MW wind farm located in Zafarana,Egypt is examined as a hypothetical CDM wind power project The report shows that for the present case example there is a difference of about 25% between......The report is intended to be a guidance document for project developers, investors, lenders, and CDM host countries involved in wind power projects in the CDM. The report explores in particular those issues that are important in CDM project assessment anddevelopment - that is, baseline development......, carbon financing, and environmental sustainability. It does not deal in detail with those issues that are routinely covered in a standard wind power project assessment. The report tests, compares, andrecommends methodologies for and approaches to baseline development. To present the application...

  20. N.3277 notice presented for the Finances, Economy and Plan Commission on the articles 4, 10, 11 and 12 of the law project n.3201 relative to the energy sector; N.3277 avis presente au nom de la Commission des Finances, de l'Economie Generale et du Plan sur les articles 4, 10, 11 et 12 du projet de loi (n.3201) relatif au secteur de l'energie

    Energy Technology Data Exchange (ETDEWEB)

    Novelli, H

    2006-08-15

    In the framework of the law project relative to the energy sector in France, this notice details the context, the markets opening and the free choice for the consumer, the dispositions relative to the capital of Gaz de France and the government control and the juridical aspects of Gaz de France privatization. (A.L.B.)

  1. Financing energy SMEs in Ghana and Senegal: Outcomes, barriers and prospects

    DEFF Research Database (Denmark)

    Haselip, James Arthur; Desgain, Denis DR; Mackenzie, Gordon A.

    2014-01-01

    enterprises (energy SMEs). These assumptions were (1) that the lack of affordable local financing presented the most significant barrier to setting up and expanding energy SMEs, and (2) that these barriers would be overcome by a ‘demonstration effect’ whereby successful businesses, supported by donor...

  2. Policy Pathways: Joint Public-Private Approaches for Energy Efficiency Finance

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2012-09-06

    This Policy Pathway outlines, through the experiences and lessons learned from country examples, the critical elements to put in place a public-private partnership to finance energy efficiency. It focuses on three mechanisms - dedicated credit lines, risk guarantees, and energy performance service contracts and presents the planning, implementing, monitoring, and evaluating phases of implemention. Accelerating and scaling up private investment in energy efficiency is crucial to exploit the potential of energy efficiency. However many barriers remain to private investment such as access to capital, uncertainty of future energy prices, transaction costs, perceived higher risk, and lack of knowledge. As part of the IEA 25 Energy Efficiency Policy Recommendations, the IEA recommends that governments support private investment in energy efficiency. A joint public-private approach can use public finance and regulatory policy to support the scaling up of private investment in energy efficiency.

  3. The Role of Export Credit Agencies in the Financing of Nuclear Power Projects. Appendix

    International Nuclear Information System (INIS)

    2017-01-01

    Nuclear new build projects are very particular investment proposals, which are unlikely to be undertaken on a straightforward economic basis by equity shareholders and by lenders. This is due to, inter alia, their extended life cycles, their very long term underlying commitments vis-à-vis waste management and decommissioning, the evolving nature of their risk management and the magnitude of their financing requirements. In addition, other factors also apply, all implying a degree of political involvement that makes the investment case even more complicated. As a result of the recent financial and economic crisis, the availability of sizable budgets from public sector players for long term investments in NPPs has been under stress in various parts of the world for a number of years now, and the situation is unlikely to change dramatically in the near future with many State budgets in need of rebalancing, particularly in Europe. The capacity of private sector stakeholders to take over the responsibility for funding such investments has also been challenged following the impact of, inter alia, the liquidity crunch on banks’ funding strategies in Europe during summer 2011, the recent macroeconomic policies on leverage, or the latest regulation that, ultimately, tends to re-direct the banks’ debt lending activities towards transactions requiring financing with shorter maturities. Within this context and among the range of financing instruments that are available and that offer long term maturities, export finance remains a tool of reference for various stakeholders, including the providers (e.g. sellers) of equipment and services and the lending banks. Furthermore, the characteristics of this product make it also perfectly compatible with the requirements of the financing plans typically put in place to fund large, capital intensive investments in infrastructure, such as NPPs.

  4. Forestry and biomass energy projects

    DEFF Research Database (Denmark)

    Swisher, J.N.

    1994-01-01

    This paper presents a comprehensive and consistent methodology to account for the costs and net carbon flows of different categories of forestry and biomass energy projects and describes the application of the methodology to several sets of projects in Latin America. The results suggest that both...... biomass energy development and forestry measures including reforestation and forest protection can contribute significantly to the reduction of global CO2 emissions, and that local land-use capacity must determine the type of project that is appropriate in specific cases. No single approach alone...... is sufficient as either a national or global strategy for sustainable land use or carbon emission reduction. The methodology allows consistent comparisons of the costs and quantities of carbon stored in different types of projects and/or national programs, facilitating the inclusion of forestry and biomass...

  5. Developing Islamic Financial Products for Financing Solar Energy with a Special Reference to Qatar and Algeria

    Science.gov (United States)

    Tabet, Imene Nouar

    Renewable energy has become an important part of the international energy mix. This thesis aims at developing Islamic financial schemes for financing photovoltaic solar energy roof-tops and solar farms. Being an evolving technology based sector with high capital expenditures imposed a challenge for this alternative source of energy to grow especially in countries where electricity costs are low and prices are heavily subsidised. The first two chapters provide a comprehensive overview of solar energy industry with the various policies and financing models that were developed and adopted in various countries. It is found that most of its growth was dependent on government support even in financing. Ijarah Sukuk were developed for financing roof-tops in Qatar, such that the house owners do not have to pay any amount and would get the solar panels at maturity where they would be entitled to their benefit. The cost would be borne by the investors who receive stable rental payments along with their capital throughout the financing period, while electric company would be provided with the electricity at a rate lower than its production cost, hence offering it subsidy savings; the lessee who lives in house would be provided with incentives in the form of electricity-pay break. Although the electricity sector in the country remains highly dependent on government support, the model, in its hypothetical example, provides investors with 8% Internal Rate of Return. On the other hand, Output-sharing Sukuk model is developed for financing solar farms in the context of Algeria, based on the known Islamic financial contract of Muzara'ah. The state-owned electric company contributes the land, the Sukuk holders own the panels, and the developer provides management of the farm. A hypothetical example is also given with calculation of cash flow and investors' Internal Rate of Return which comes to be 7.1029% per annum.

  6. Wind energy projects: Some reservations

    International Nuclear Information System (INIS)

    Veldkamp, H.F.; Goezinne, F.

    1991-01-01

    Among people directly involved in wind energy great optimism about the use of windpumps is not uncommon. Projects show that often this is not justified. Why do windpump projects fail? Errors seen by the authors are: 1. Windpumps are installed only because policy makers or researchers want it and not because there is a need felt for them by the users; 2. There is too much attention for the technical side and not for other, more important problems; 3. Experimental (and hence unreliable) windpumps are used in projects; and 4. Too much weight is attached to small, long term economic advantages, which do not count in reality. Although the windmill has its place, it should be recognized that in many cases wind energy is not a good option. 15 refs

  7. Report on the behalf of the finance, general economy and budget control commission on the finance bill for 2012: Appendix 14: ecology, sustainable development and planning. Energy

    International Nuclear Information System (INIS)

    Carrez, G.

    2011-01-01

    The author first addresses aspect of the finance bill concerning past decisions and the past energy production context and policy: the after-mining management, measure in favour of Lorraine, an electricity cost which misses out the plant dismantling financing. Then, he addresses the policy in favour of renewable energies: renewal of hydroelectric concessions, tax support for energy sobriety. He comments the on-going audit of AREVA and EDF, and notably addresses the EPR construction issue (in Finland) and the purchase of UraMin by AREVA

  8. Mediterranean prospective in energy and needs of financing

    International Nuclear Information System (INIS)

    Grenon, M.

    1994-01-01

    We will first see some few important points of Mediterranean situation; a strong population growth is the first one, especially in South and East of the basin and this population is concentrated in towns; the second one is the great differences in development level between countries. That is to explain why there will be an increase of energy consumption: about 50% for petroleum, 20% for coal, and certainly natural gas will take the place let by coal because of the environmental constraints, nuclear is interesting only the north of the basin and more precisely France. Contrary to energy consumption, energy supplies will be more important in the south and east than in the north. Petroleum is produced in the east and south, natural gas producer is Algeria, following by other south countries, coal is produced in the north and nuclear energy comes from north countries. Petroleum, natural gas and electricity represent some 300 milliards of dollars in investments; energy expenses for south east mediterranean countries are calculated between 500 and 600 milliards of dollars, with 50% for petroleum, 20% for natural gas, 30% of these expenses are predicted for electricity production

  9. Soundness of Krsko Nuclear Power Plant Performance in Terms of Energy and Finance

    International Nuclear Information System (INIS)

    Curkovic, A.; Vrankic, K.; Magdic, M.

    1998-01-01

    Compared to existing conventional thermal power plants in Croatian electric power system, as well as to alternative (potential) imported coal and gas fired thermal power plants, Krsko NPP (nuclear power plant) generates electricity with lower production costs. This cost margin in favour of the Krsko NPP represents the soundness of this nuclear power plant in terms of energy and finance. (author)

  10. A study of solar energy entrepreneurs and financing

    International Nuclear Information System (INIS)

    Agarwal, R.K.

    2005-12-01

    In this paper, a description is given about entrepreneurs to start a business of renewable energy technologies as solar photovoltaic, solar water heating systems which are well established products in the market. Some points are mentioned to establish a successful business as quality assurance, marketing and sell skills etc. The purpose of this study is to boost the confidence in solar energy entrepreneurs. Technical specifications of solar home systems, solar street lighting system, solar photovoltaic water pumping and 2.5 KW solar photovoltaic power plant have been provided in Annexure-I. The list of maximum prices has been given in Annexure-ll and a list of empanelled manufactures/suppliers of various solar photovoltaic (SPV) systems under the Ministry of Non-Conventional Energy Sources, MNES (Government of India) has been also mentioned in Annexure-lll. (author)

  11. Energy Strategic Planning & Sufficiency Project

    Energy Technology Data Exchange (ETDEWEB)

    Retziaff, Greg

    2005-03-30

    This report provides information regarding options available, their advantages and disadvantages, and the costs for pursuing activities to advance Smith River Rancheria toward an energy program that reduces their energy costs, allows greater self-sufficiency and stimulates economic development and employment opportunities within and around the reservation. The primary subjects addressed in this report are as follows: (1) Baseline Assessment of Current Energy Costs--An evaluation of the historical energy costs for Smith River was conducted to identify the costs for each component of their energy supply to better assess changes that can be considered for energy cost reductions. (2) Research Viable Energy Options--This includes a general description of many power generation technologies and identification of their relative costs, advantages and disadvantages. Through this research the generation technology options that are most suited for this application were identified. (3) Project Development Considerations--The basic steps and associated challenges of developing a generation project utilizing the selected technologies are identified and discussed. This included items like selling to third parties, wheeling, electrical interconnections, fuel supply, permitting, standby power, and transmission studies. (4) Energy Conservation--The myriad of federal, state and utility programs offered for low-income weatherization and utility bill payment assistance are identified, their qualification requirements discussed, and the subsequent benefits outlined. (5) Establishing an Energy Organization--The report includes a high level discussion of formation of a utility to serve the Tribal membership. The value or advantages of such action is discussed along with some of the challenges. (6) Training--Training opportunities available to the Tribal membership are identified.

  12. Home financing for new and existing energy efficient homes

    International Nuclear Information System (INIS)

    1994-01-01

    The video describes how the home federal savings and loan association in Rockford, IL, has developed lending standards for new conventional and solar homes. The nine standards are illustrated. The video follows the customer through the loan process, including an appraisal of energy efficient items, loan closing, and continuing education. The primary audience is savings and loan management personnel

  13. FINANCIAL INDICATORS FOR THE ROMANIAN COMPANIES BETWEEN ELIGIBILITY AND BANKABILITY OF EU FINANCED PROJECTS

    Directory of Open Access Journals (Sweden)

    Droj Laurentiu

    2014-12-01

    Full Text Available The main goal of this research is to compare the eligibility indicators for accessing EU projects with the bankability indicators at the level of Romanian companies. This study was realized in a period when the term of bankability seems to be in the focus of the beneficiaries and management authorities for European funding, of the banking system and of the mass-media as well. This happens for the first time since the launch in 2007-2008 of the main structural EU funding programs focusing on the development of competitive SMEs, which brought significant changes in the EU funding environment. The same with the public institutions, many SMEs have applied for grants in order to finance their investments using different funding programs, especially under the European Regional Development Fund. This process to obtain European funding was a long one in term of evaluation and contracting periods. Under this context, the initial success of SMEs that have successfully applied and even managed to gain access to European funding was overshadowed by another sharper problem: lack of financial resources for co-financing to support investments or expenditures in the initial stages funding the project. This was also a big problem since the start of word financial and economic crisis. Under this context the banking sector was supposed to be heavily involved in ensuring external financing. The main difficulties in co-financing European funding projects by the banks came from the fact that the companies were requested to obtain satisfactory scores in order to qualify for the banking loans. Several indicators were used by the banking sector to analyze the creditworthiness of the applicant companies. From these indicators we selected five of them to be tested by using Student distribution modelling within the ModelRISK – VoseSoftware application over a group of 50 companies located in the North-Western region of Romania. After the model was created in this paper we

  14. Setting up local community wind energy projects

    International Nuclear Information System (INIS)

    Larke, Charmian.

    1993-01-01

    A report is given on progress to establish a company in the UK which involves local people at an early stage in the development of wind farms. Particular attention is paid to obtaining local finance for the projects. Because rural communities tend to be relatively poor, larger investors will need to be involved. (UK)

  15. Project Financing Strategy and Risk Control%项目融资策略及风险防范探讨

    Institute of Scientific and Technical Information of China (English)

    张军

    2013-01-01

      文章对项目融资模式的各种风险进行分析,并提出相应的风险防范对策。为此,在项目融资过程中,要根据项目战略决定其融资策略,继而选择适合自己的最佳资本结构和融资方式,防范项目风险。%This paper analyzes the various risks of project financing mode, And proposes the corresponding risk prevention measures. Therefore, in the process of financing, according to firms' own development strategy to determine their financing strategy, th us choose the appropriate optimal capital structure and financing mode, to prevent the project risk.

  16. Advanced Energy Projects FY 1990 research summaries

    International Nuclear Information System (INIS)

    1990-09-01

    This report serves as a guide to prepare proposals and provides summaries of the research projects active in FY 1990, sponsored by the Office of Basic Energy Sciences Division of Advanced Energy Projects, Department of Energy. (JF)

  17. Determinants of the cost of capital for privately financed hospital projects in the UK.

    Science.gov (United States)

    Colla, Paolo; Hellowell, Mark; Vecchi, Veronica; Gatti, Stefano

    2015-11-01

    Many governments make use of private finance contracts to deliver healthcare infrastructure. Previous work has shown that the rate of return to investors in these markets often exceeds the efficient level. Our focus is on the factors that influence that return. We examine the effect of macroeconomic, project- and firm-level variables using a detailed sample of 84 UK private finance initiative (PFI) contracts signed between 1997 and 2010. Of the above variables, macroeconomic conditions and lead sponsor size are related to the investor return. However, our results show a remarkable degree of stability in the return to investors over the 14-year period. We find evidence of a 'prevailing norm' that is robust to project- and firm-level variation. The sustainability of excess returns over a long period is indicative of a concentrated market structure. We argue that policymakers should consider new mechanisms for increasing competition in the equity market, while ensuring that authorities have the specialist resources required to negotiate efficient contract prices. Copyright © 2015 Elsevier Ireland Ltd. All rights reserved.

  18. Energy Storage and Distributed Energy Generation Project, Final Project Report

    Energy Technology Data Exchange (ETDEWEB)

    Schwank, Johannes; Mader, Jerry; Chen, Xiaoyin; Mi, Chris; Linic, Suljo; Sastry, Ann Marie; Stefanopoulou, Anna; Thompson, Levi; Varde, Keshav

    2008-03-31

    This report serves as a Final Report under the “Energy Storage and Distribution Energy Generation Project” carried out by the Transportation Energy Center (TEC) at the University of Michigan (UM). An interdisciplinary research team has been working on fundamental and applied research on: -distributed power generation and microgrids, -power electronics, and -advanced energy storage. The long-term objective of the project was to provide a framework for identifying fundamental research solutions to technology challenges of transmission and distribution, with special emphasis on distributed power generation, energy storage, control methodologies, and power electronics for microgrids, and to develop enabling technologies for novel energy storage and harvesting concepts that can be simulated, tested, and scaled up to provide relief for both underserved and overstressed portions of the Nation’s grid. TEC’s research is closely associated with Sections 5.0 and 6.0 of the DOE "Five-year Program Plan for FY2008 to FY2012 for Electric Transmission and Distribution Programs, August 2006.”

  19. Talk of Thierry Breton, minister of economy, finances and industry. Talk to the association of economy and finance journalists about national and international energy questions on May 22, 2006; Intervention de Thierry Breton ministre de l'Economie, des finances et de l'industrie. Intervention devant l'Ajef sur les questions energetiques nationales et internationales, le 22 mai 2006

    Energy Technology Data Exchange (ETDEWEB)

    NONE

    2006-07-01

    The French minister of economy, finances and industry explains the reasons of the rise of oil prices (tensions on the supply and demand balance, late recovery of investments in producing countries, geopolitical factors) and the measures that the government wishes to implement in order to bear up this situation: project of merger between Gaz de France and Suez energy groups, change of oil companies behaviour with consumers (automotive fuels price transparency), energy saving information on all energy suppliers advertisements, reinforcement of energy independence (development of renewable energy sources and of alternate automotive fuels). (J.S.)

  20. Participatory financing for green growth

    International Nuclear Information System (INIS)

    Laville, Dorine; Phantharangsi, Maryvonne; Monnoyer-Smith, Laurence; Demeulenaere, Laurence; Lequeux, Typhaine; Cuny, Alicia

    2017-01-01

    As for the French Ministry of the Environment, participatory financing can be an innovating and mobilising tool to finance projects related to the energy and ecological transition, and as such a financing is promoted by the law on energy transition for a green growth, this publication presents this type of financing. It evokes its legal framework, its different forms (loan to companies, loan to individuals, gift, capital investment), its safe legal framework (definition of different types of status). It outlines how it can be a lever for energy and ecological transition even if green projects are difficult to quantify. It evokes the future introduction of a label, and the introduction of legal and regulatory measures to develop the renewable energy sector

  1. Solar Photovoltaic Financing: Deployment by Federal Government Agencies

    Energy Technology Data Exchange (ETDEWEB)

    Cory, K.; Coggeshall, C.; Coughlin, J.; Kreycik, C.

    2009-07-01

    The goal of this report is to examine how federal agencies can finance on-site PV projects. It explains state-level cash incentives available, the importance of solar renewable energy certificate revenues (in certain markets), existing financing structures, as well as innovative financing structures being used by federal agencies to deploy on-site PV. Specific examples from the DOD, DOE, and other federal agencies are highlighted to explain federal project financing in detail.

  2. 76 FR 22719 - Cape Wind Energy Project

    Science.gov (United States)

    2011-04-22

    ... Energy Project AGENCY: Bureau of Ocean Energy Management, Regulation and Enforcement (BOEMRE), Interior..., or disapprove a Construction and Operations Plan (COP) for the Cape Wind Energy Project located on..., easements, or rights-of-way for renewable energy projects on the OCS. The Secretary delegated that authority...

  3. PRACTICE OF DRAFTING AND IMPLEMENTING OF FINANCING PROJECTS IN NON-FORMAL EDUCATION

    Directory of Open Access Journals (Sweden)

    BUZOIANU Daniela Angela

    2015-06-01

    Full Text Available In Petroleum and Gas University, besides teaching and research activities, a priority is non-formal education area. In the academic center of Ploiesti, the activities of non-formal education take place through Center for Porjects, Programs and Cultural - Artistic events (CPPECA and Student’s Culture House, located in the University campus (CCS. The mission of the Center for Projects, Programs and Cultural - Artistic events and Student’s Culture House is: - To offer a big diversity of activities in non-formal education area for students and teachers; - To become an essential and defining pillar in continous formation of young people. The purpose is to promote excellence also in non-formal education fied , starting from the value and tradition of university education in Romanian oil area The Center for Project, Programs and Cultural - Artistic events (CPPECA and Student’s House of Culture have: • An educational function; • A real multidirectional cultural vocation through: - initiating,implementing and developing cultural projects and programs; - organizing and developing specific events like shows, festivals, national and international contests. The paper presents practical aspects in development and implementation of financing projects in non-formal education field.

  4. Assessing the appropriateness of carbon financing for micro-scale projects in terms of capabilities

    Directory of Open Access Journals (Sweden)

    Caitlin Trethewy

    2013-08-01

    Full Text Available Micro-scale development projects are currently underrepresented in global carbon markets. This paper outlines the process of becoming eligible to generate carbon credits and examines some of the barriers that may inhibit access to carbon markets. In particular, it focuses on barriers relating to the capacity and resources of the organisation developing the project. This approach represents a deviation from the standard discourse which has traditionally focused on barriers relating to the availability of up-front finance and the capacity of local public and private sector institutions required to participate in the carbon standard certification process. The paper contains an analysis of the carbon offset project cycle from which follows a discussion of potential capacity- related barriers focusing on time, skills and resources. Recommendations are made as to how these may be overcome with a particular focus on the role of technical organisations in assisting project developers. Completed during 2012 this research comes at an interesting time for global carbon markets as the Kyoto Protocol’s first commitment period ended in 2012 and negotiations have failed to produce and agreement that would commit major emitters to reductions targets from 2013 onward. Despite this, reducing greenhouse gas emissions has gained momentum on the national level and many governments are in the process of formulating and introducing emissions trading schemes.

  5. Defense Infrastructure: Improved Guidance Needed for Estimating Alternatively Financed Project Liabilities

    Science.gov (United States)

    2013-04-01

    Solar PV; UESC Navy Marine Corps Logistics Base (MCLogB) Albany GA Renewable Energy Cogeneration ESPC using Biogas PPA Navy MCLogB Albany GA...Armed Services Committee directed GAO to assess the impact of base closures on such agreements and how DOD captures costs associated with projects...this analysis and GAO’s case study review, liabilities will likely exist for renewable energy and privatized utility projects in the event of base

  6. Rethinking the Role of Development Banks in Climate Finance: Panama’s Barro Blanco CDM Project and Human Rights

    Directory of Open Access Journals (Sweden)

    Beatriz Felipe Pérez

    2016-06-01

    Full Text Available Development banks are key actors in climate finance. During the last decades, they have increased the funding of climate change related projects, especially those under the Clean Development Mechanism (CDM. Defined in Article 12 of the Kyoto Protocol, the CDM aims at contributing to climate change mitigation while assisting in achieving sustainable development. However, many CDM projects have caused environmental damage and human rights abuses that especially affect the most vulnerable people. Located in Panama, the Barro Blanco hydro-power dam exemplifies the complex interrelationship of climate financing, development policies, the political and economic national context and human rights. Through the analysis of the role of development banks in climate finance, especially in the context of CDM projects, this paper aims (1 to clarify the role of development banks in climate finance, (2 to shed light on the vulnerable situation of the people affected by these projects, (3 to highlight the gaps in both the CDM rules and the development banks’ safeguard policies concerning the protection of human rights and the prevention of environmental abuses, and (4 to give a current example of this complex situation through the Barro Blanco case study. This paper argues that the manifold and often competing national and international legal and political layers of climate change mitigation projects repeatedly leave project affected people vulnerable to human rights violations without adequate safeguards and mechanisms to effectively articulate their interests, protect their rights and promote access to justice.

  7. PREMISES FOR A MODEL OF DECISION – MAKING ON THE FINANCING OF A PROJECT

    OpenAIRE

    Popovici Ioana; Tulai Constantin

    2010-01-01

    The classical theory of finance is based on the premises of rationality and maximizing profits that accompany economic decision-making. Complementarily, the modern theory of behavioral finance studies the effect of emotional and psychological factors of decision- maker on the choice of financing sources for economic activities. In opposition with the classical perspective, the contemporary theory of finance brings up to the stage various aspects of decision making, including elements of strat...

  8. The Equator Principles, Project Finance and the Challenge of Social and Environmental Responsibility

    Directory of Open Access Journals (Sweden)

    Jane Andrew

    2007-06-01

    Full Text Available The Equator Principles, launched in 2003 and revamped in 2006, are a set of voluntary principles designed to help private lenders make socially and environmentally responsible project financing decisions. This paper explores the impact of these principles on the disclosures of two signatory banks, focusing on type of information disclosures that have resulted and the substance of these disclosures. The work considers whether it is  possible to ascertain from publicly available information how the practices of the banks may have changed in order to focus on their stated social and environmental responsibilities. It is concluded that although the Equator Principles have marked the beginning of the banking sectors acknowledgement of their role in social and environmental responsibility, at this stage insufficient information is being disclosed to determine the impact these principles are having on actual banking practices.

  9. Case studies of energy efficiency financing in the original five pilot states, 1993-1996

    Energy Technology Data Exchange (ETDEWEB)

    Farhar, B C; Collins, N E; Walsh, R W

    1997-05-01

    The purpose of this report is to document progress in state-level programs in energy efficiency financing programs that are linked with home energy rating systems. Case studies are presented of programs in five states using a federal pilot program to amortize the costs of home energy improvements. The case studies present background information, describe the states` program, list preliminary evaluation data and findings, and discuss problems and solution encountered in the programs. A comparison of experiences in pilot states will be used to provide guidelines for program implementers, federal agencies, and Congress. 5 refs.

  10. Design-Build-Finance in the US: The case of iROX, I-75 Road Expansion Project

    OpenAIRE

    Forcael,E; Ellis, JR,R; Jaramillo,F

    2011-01-01

    This project is part of the Interstate 75 road expansion, located in Southwest Florida and consisted of an expansion from four to six lanes along a 30-mile stretch. The paper presents a design, build and finance (DBF) approach applied to a US highway. This work focuses on the financial structure of the project, which did not include a concession (operation); the bidding procedure, which took into account an interesting bid evaluation criterion and; project management matters. The information ...

  11. Influence to the financial situation of hospitals for projects financed from the EU structural funds

    Directory of Open Access Journals (Sweden)

    Aleksandra ŁĘGA

    2015-05-01

    Full Text Available The European Union gives many opportunities for development to member countries, including raising founds for its funds. This money could be sought in many sectors of the economy. One of them is health care. The goal of this study is to assess the impact of the financial situation of hospitals in the Kuyavian-Pomeranian for projects financed by the Structural Funds European Union (EU in programming period 2007-2013. The money from the European Regional Development Fund and European Social Fund provided an opportunity to introduce the latest technology and equipment in medical entities, as well as allowed skilled in the art. Of medicine to acquire knowledge and skills to develop their potential. The paper discusses issues related to the possibilities of support by EU funding to health care. Based on the data contained in the financial statements of an analysis of data from the balance sheet, characterized projects in hospitals as part of financing from the EU and the influence of the material in the therapeutic entities for their implementation through the analyses of correlation. The possibility of providing health services requires appropriate  regulations in law, system and organization. This is necessary in order to achieve the main goal of any entity that is take care of the welfare of the patient. Health and its protection is the highest value for the individual and for society, so Poland and the European Union is committed to the protection of the priority objective through enhanced organizational and legal actions and investments in the health sector.

  12. Environmental impacts of wind-energy projects

    National Research Council Canada - National Science Library

    Committee on Environmental Impacts of Wind Energy Projects; National Research Council; Division on Earth and Life Studies; National Research Council

    2007-01-01

    .... Environmental Impacts of Wind-Energy Projects offers an analysis of the environmental benefits and drawbacks of wind energy, along with an evaluation guide to aid decision-making about projects...

  13. Research and Development Financing in the Renewable Energy Industry in Brazil

    Directory of Open Access Journals (Sweden)

    Muriel de Oliveira Gavira

    2014-09-01

    Full Text Available In the last decades, the Brazilian government has put many public policies in place in order to create a favourable environment to promote energy efficiency and clean energy. In this paper we discuss the use of research and development financing support by the clean energy industry in Brazil. To do so, we carried out an empirical research analysing secondary data from legislation, literature case studies, and public and industry reports in order to determine if the companies of the clean energy industry have public financial support to research and development. Our ongoing research shows that, despite incentives to stimulate the dissemination of clean energy, the participation of some of the clean energy is very small (especially solar. We believe that the contributions of this study will assist policy makers, and the whole industry, to improve clean energy research and development investments in Brazil.

  14. An approach for evaluating utility-financed energy conservation programs. The economic welfare model

    Energy Technology Data Exchange (ETDEWEB)

    Costello, K W; Galen, P S

    1985-09-01

    The main objective of this paper is to illustrate how the economic welfare model may be used to measure the economic efficiency effects of utility-financed energy conservation programs. The economic welfare model is the theoretical structure that was used in this paper to develop a cost/benefit test. This test defines the net benefit of a conservation program as the change in the sum of consumer and producer surplus. The authors advocate the operation of the proposed cost/benefit model as a screening tool to eliminate from more detailed review those programs where the expected net benefits are less than zero. The paper presents estimates of the net benefit derived from different specified cost/benefit models for four illustrative pilot programs. These models are representative of those which have been applied or are under review by utilities and public utility commissions. From the numerical results, it is shown that net benefit is greatly affected by the assumptions made about the nature of welfare gains to program participants. The main conclusion that emerges from the numerical results is that the selection of a cost/benefit model is a crucial element in evaluating utility-financed energy conservation programs. The paper also briefly addresses some of the major unresolved issues in utility-financed energy conservation programs. 2 figs., 3 tabs., 10 refs. (A.V.)

  15. Financing hydropower projects using the mechanisms provided by the Kyoto Protocol

    International Nuclear Information System (INIS)

    Eugenia Anca Echizli

    2004-01-01

    One of the most serious and current environmental global problems is the Climate Change generated by the increasing of Green House gas (GHG) level. Romania has signed the United Nation Framework Convention on Climate Change and is the first country listed in Convention Annex I which ratified Kyoto Protocol. Romania committed itself to lower the level of GHG emissions with 8% as compared with the GHG emissions level in 1989, what is similar to the commitment of EU countries. In order to satisfy the requirements of accession to the European Union, Romania has also developed several national strategies to promote sustainable development. Hidroelectrica's Environmental Policy includes international partnership to finance the hydropower projects under Kyoto Protocol of United Nation Framework Convention on Climate Change. Hidroelectrica has submitted Joint Implementation projects to the PCF program of World Bank and ERUPT programs of Dutch Government. The paper reflects Hidroelectrica's experience in that field: the actions necessary to initiate and promote such projects, the steps recommended in developing their implementation, difficulties and barriers, results obtained, learned lessons. (author)

  16. Advanced Energy Projects: FY 1993, Research summaries

    International Nuclear Information System (INIS)

    1993-09-01

    AEP has been supporting research on novel materials for energy technology, renewable and biodegradable materials, new uses for scientific discoveries, alternate pathways to energy efficiency, alternative energy sources, innovative approaches to waste treatment and reduction, etc. The summaries are grouped according to projects active in FY 1993, Phase I SBIR projects, and Phase II SBIR projects. Investigator and institutional indexes are included

  17. Advanced Energy Projects: FY 1993, Research summaries

    Energy Technology Data Exchange (ETDEWEB)

    1993-09-01

    AEP has been supporting research on novel materials for energy technology, renewable and biodegradable materials, new uses for scientific discoveries, alternate pathways to energy efficiency, alternative energy sources, innovative approaches to waste treatment and reduction, etc. The summaries are grouped according to projects active in FY 1993, Phase I SBIR projects, and Phase II SBIR projects. Investigator and institutional indexes are included.

  18. Renewable energies in France. New financing modes and challenges for French actors

    International Nuclear Information System (INIS)

    2014-11-01

    This document comprises three reports and a video. The first report is an executive summary which focuses on the main factors of evolution of the activity in the field of renewable energies, and stresses factors of change and their strategic consequences. The second report proposes a strategic analysis which addresses key challenges and problematic of the sector, analyses the evolution of competition, deciphers the strategies of the main operators, and tries to identify the best performing business models. It proposes an overview of the situation of the French market of renewable energies (hydraulic, wind, solar photovoltaic, solar thermal, biomass including biogas, waste combustion, geothermal and heat pumps), a precise description of renewable energy financing modes (notably four models: capital-investment, green bonds, institutional financing, participative financing), an analysis of opportunities for the different French renewable energy sectors on the medium term, and an identification of actors with an analysis of their market positioning. The third report proposes data which provide a comprehensive and structured overview of the market, of its dynamics and of operators. It presents the market environment (energy policy, energy assessment, housing fleet, GDP, other environmental factors), the French market of renewable energies (final consumption, primary production, turnover of 5 component suppliers and of 5 operators, renewable heat production and consumption, renewable electric power production and consumption), and the competitive environment (economic structure, overview of main manufacturers, exploiters and operators in France) with a more detailed presentation of 18 manufacturers, owners and operators). The video proposes a presentation of operational conclusions of this study

  19. CALLA ENERGY BIOMASS COFIRING PROJECT

    International Nuclear Information System (INIS)

    Unknown

    2002-01-01

    The Calla Energy Biomass Project, to be located in Estill County, Kentucky is to be conducted in two phases. The objective of Phase I is to evaluate the technical and economic feasibility of cofiring biomass-based gasification fuel-gas in a power generation boiler. Waste coal fines are to be evaluated as the cofired fuel. The project is based on the use of commercially available technology for feeding and gas cleanup that would be suitable for deployment in municipal, large industrial and utility applications. Define a combustion system for the biomass gasification-based fuel-gas capable of stable, low-NOx combustion over the full range of gaseous fuel mixtures, with low carbon monoxide emissions and turndown capabilities suitable for large-scale power generation applications. The objective for Phase II is to design, install and demonstrate the combined gasification and combustion system in a large-scale, long-term cofiring operation to promote acceptance and utilization of indirect biomass cofiring technology for large-scale power generation applications. During this Performance Period work efforts focused on completion of the Topical Report, summarizing the design and techno-economic study of the project's feasibility. GTI received supplemental authorization A002 from DOE contracts for additional work to be performed under Phase I that will further extend the performance period until the end of February 2003. The additional scope of work is for GTI to develop the gasification characteristics of selected feedstock for the project. To conduct this work, GTI will assemble an existing ''mini-bench'' unit to perform the gasification tests. The results of the test will be used to confirm or if necessary update the process design completed in Phase Task 1

  20. Budget and financing of mental health services: baseline information on 89 countries from WHO's project atlas.

    Science.gov (United States)

    Saxena, Shekhar; Sharan, Pratap; Saraceno, Benedetto

    2003-09-01

    Very little information is available on budget and financing of mental health services in the world. During year 2001, WHO collected information from all countries on resources available for mental health care as a part of Project Atlas. The present report seeks to describe the situation regarding federal budgets and financing of mental health care at the country level. It also examines the association between relative allocation of health budget to mental health and mental health policy, programme and resource indicators in 89 countries. The information was collected through a questionnaire (with an accompanying glossary) that was sent to the mental health focal point in the Ministry of Health of each country. Eighty nine countries provided information on their mental health budget as a proportion of health budget. In addition, information was obtained on policy, programme and mental health resource indicators (beds, personnel, services to special population and availability of drugs). The results showed that 32% of 191 countries did not have a specified budget for mental health. Of the 89 countries that supplied the requisite information 36% spent less than 1% of their total health budget on mental health. Many countries from Africa (79%) and the South East Asia (63%) were in this subgroup. Comparison with the Global Burden of Disease data showed a marked disparity between burden and resources. Lower income countries allocated a lesser proportion of their health budget on mental health in comparison to higher income countries. The primary method of financing mental health care in most countries was tax-based (60.2%), but many low-income countries depended on out-of-pocket expenditure (16.4%). The presence of mental health policies and programmes in general was not associated with the proportion of health budget allocated to mental health. Counties categorized based on the proportion of mental health budget to health budget, differed significantly in terms of

  1. Fiscalini Farms Biomass Energy Project

    Energy Technology Data Exchange (ETDEWEB)

    William Stringfellow; Mary Kay Camarillo; Jeremy Hanlon; Michael Jue; Chelsea Spier

    2011-09-30

    In this final report describes and documents research that was conducted by the Ecological Engineering Research Program (EERP) at the University of the Pacific (Stockton, CA) under subcontract to Fiscalini Farms LP for work under the Assistance Agreement DE-EE0001895 'Measurement and Evaluation of a Dairy Anaerobic Digestion/Power Generation System' from the United States Department of Energy, National Energy Technology Laboratory. Fiscalini Farms is operating a 710 kW biomass-energy power plant that uses bio-methane, generated from plant biomass, cheese whey, and cattle manure via mesophilic anaerobic digestion, to produce electricity using an internal combustion engine. The primary objectives of the project were to document baseline conditions for the anaerobic digester and the combined heat and power (CHP) system used for the dairy-based biomass-energy production. The baseline condition of the plant was evaluated in the context of regulatory and economic constraints. In this final report, the operation of the plant between start-up in 2009 and operation in 2010 are documented and an interpretation of the technical data is provided. An economic analysis of the biomass energy system was previously completed (Appendix A) and the results from that study are discussed briefly in this report. Results from the start-up and first year of operation indicate that mesophilic anaerobic digestion of agricultural biomass, combined with an internal combustion engine, is a reliable source of alternative electrical production. A major advantage of biomass energy facilities located on dairy farms appears to be their inherent stability and ability to produce a consistent, 24 hour supply of electricity. However, technical analysis indicated that the Fiscalini Farms system was operating below capacity and that economic sustainability would be improved by increasing loading of feedstocks to the digester. Additional operational modifications, such as increased utilization of

  2. Energy research and development projects in the Nordic countries. Directory 1987

    International Nuclear Information System (INIS)

    Anon.

    1988-01-01

    This is the fifth directory of research, development and demonstration projects in the Nordic countries within the field of energy. The directory includes projects running in 1987. 2378 projects are described, all of them financed through special public funds (i.e. external funding). The energy research organisation in each Nordic country is briefly reviewed in the appendixes, and a list of relevant newsletters are given. The directory is published at the request of the Nordic Council of Ministers and a special Energy Research Committee set up by the Nordic energy ministers in order to coordinate and promote Nordic information sharing in the energy field. (author)

  3. Energy research and development projects in the Nordic countries. Directory 1986. Energiforskningsprojekter i Norden. Katalog 1986

    International Nuclear Information System (INIS)

    1987-01-01

    This is the fourth directory of research, development and demonstration projects in the Nordic countries within the field of energy. The 1986 directory includes projects running in 1986. 2172 projects are described and all of them are financed through special public funds (i.e. external funding). The energy research organisation in each Nordic country is briefly reviewed in the appendixes, and a list of relevant newsletters are given. The directory is published at the request if the Nordic Council of Ministers and a special Energy Reseach Committee set up by the Nordic energy ministers in order to coordinate and promote Nordic information sharing in the energy field. (author)

  4. Research on the Correspondence of Floating Charge and EMC Project Financing%浮动抵押与合同能源管理项目融资的契合性研究

    Institute of Scientific and Technical Information of China (English)

    王小丽; 于凤光

    2013-01-01

    融资问题已成为中小型节能服务公司发展的主要障碍,其根本原因是传统担保与合同能源管理项目融资之间的不适应性,而浮动抵押的特性却与该项目融资有着天然的契合性.将浮动抵押应用于项目融资中,可实现中小型节能服务公司和银行利益的双赢,切实解决其融资难题,从而推动和促进我国节能产业的发展%Financing deficiency has become the major obstacle to the development of small and medium-sized Energy Service Companies (ESCO in overseas, EMCO in China) in China. And its root cause is the inadaptability of Traditional Security to Energy Performance Contracting (EPC in overseas, EMC in China) project financing. But the characteristics of Floating Charge have the natural correspondence with EMC project financing. Hence the application of Floating Charge in EMC project financing can make small and medium-sized EMCO and bank to achieve win-win, solve the financing difficulties of small and medium-sized EMCO, and promote the development of energy-saving industrialization in China.

  5. Financing the energy renovation of residential buildings through soft loans and third-party investment schemes. Infinite Solutions Guidebook

    International Nuclear Information System (INIS)

    Schilken, Peter; Cicmanova, Jana; Turner, Ian; Van Liefland, Stijn; Kaiser, Maaike; Ethuin, Perrine; Bernair, Corinne; Bertolotti, Enzo; Mordacci, Marco; Fraval, Jacques; Beaupetit, Helene; Safiulins, Timurs; Latisevs, Jevgenijs; Wenzel, Philipp; Dehghan, Bahram; Rask Nielsen, Poul

    2017-02-01

    Financing the energy retrofitting of buildings is a great challenge. With investments ranging from euros 200 to euros 1,200 /m 2 (CITYnvest study, 2015), access to attractive and long-term financing is perceived as the primary barrier to carrying out ambitious energy retrofits, in particular those aiming at achieving 50-75% energy savings. In this guidebook, Energy Cities' members share their experience and guide you through the process of setting up a soft loan financing scheme. The Stuttgart's 'care-free energy renovation package' and third party investment scheme are described in detail in a dedicated case study. The guidebook is intended for local and regional authorities, energy agencies and their associations, national energy agencies, ministries and fund managers, organisations providing training to cities and regions, banks and financing institutions. In short, all organisations and actors who could be interested in replicating these financing schemes or who could support cities and regions in doing so. The guidebook consists of four chapters: Chapter 1: an introduction to soft loan schemes. Chapter 2: step-by-step guidance on how to build a soft loan financing scheme, including an overview of three already tested alternative business models. Chapter 3: summary and recommendations. Chapter 4: case studies, including Stuttgart's third party investment scheme

  6. Important project financing by issue of bonds in the Federation of Bosnia and Herzegovina

    Directory of Open Access Journals (Sweden)

    Lazar Dreč

    2016-11-01

    Full Text Available This article deals with the development of the Federation of Bosnia and Herzegovina based on the opening of infrastructure facilities for which funding is proposed to incorporate the issue of securities, primarily government bonds because there is a real basis for its demand deriving by banks, citizens and other organizations and institutions. The basic conditions for the functioning model of financing development and strategic projects by issuing securities herein include: a accelerate reforms and create the legal framework that will allow the establishment of important missing institutions for the business sector, b more efficient functioning of the executive and legislative bodies in Bosnia and Herzegovina on creating a favourable business environment, c the implementation of identified strategic commitment from all levels of government in relation to the creation of a single economic space, labour market, harmonization of entity policies and other policies that influence the overall business environment, d the development of infrastructure projects and power facilities, and e the inclusion of private funding and knowledge aimed at improving the construction and management of roads.

  7. Financing, performance analysis and impact assessment of bio-methanation projects in India

    International Nuclear Information System (INIS)

    Naidu, B.S.K.

    1997-01-01

    The conversion of wastes into energy and the protection of the environment are major concerns today. With mounting environmental pressures, it has become mandatory for almost all industrial sectors to comply with environmental regulations and treat the effluents, if any. There are about 285 distilleries in India generating effluents, of which nearly 177 have either implemented or are on the verge of completing effluent treatment plants. The effluents from distillery units are treated with a dual purpose of pollution abatement and recovery of energy. Indian Renewable Energy Development Agency Ltd. (IREDA) has so far funded 59 process industries, mostly distillery units, for the generation of biogas from effluents. IREDA's contribution towards the generation of biogas by financing these units amounts to about 0.86 million cubic meters of biogas per day which is equivalent to saving 965 tonnes of coal per day, in turn leading to carbon dioxide avoidance of about 1,330 tonnes per day. IREDA conducted a sample study on performance of these biogas plants and their impact on environment

  8. Project finance and its limitations in terms of difficult political and structural horizons - the case of electricity generation

    International Nuclear Information System (INIS)

    Fiancette, Georges; Penz, Philippe

    1994-01-01

    Illustrations are given of the kinds of difficulties attendant on the project financing of electricity generation in some developing countries and former socialist countries of Eastern Europe. There are risks due to the instability of the legal framework because of political considerations and also because the organization and regulation of the electricity supply industry is still being developed. Problems may arise because of the gap between the relatively short term of the repayable debt (10 to 12 years) and the lifetime of a typical project (of the order of 30 years). Project investment is usually entrusted to an independent body which often relies on the local electricity company to operate the power station. In this situation, the two bodies involved cannot mutually insure the risks. Exchange rates generate problems associated with convertibility on the one hand and fluctuations on the other. The particular problems which occur in the project financing of power station restoration are discussed. (UK)

  9. Mechanisms of support of “green” projects financing: experience of countries

    Directory of Open Access Journals (Sweden)

    Ivan D. Rakov

    2017-06-01

    Full Text Available Objective to assess the effectiveness of the mechanisms supporting ldquogreenrdquo projectsrsquo funding in developed countries and in Russia. Methods comparative analysis regression analysis. Results the article substantiates the necessity of mainstreaming the environmental protection issues under modern conditions of the world economy development. It is emphasized that despite the advantages of the development of ldquogreenrdquo economy for society as a whole the market highlights a variety of hindering factors. In this context it is increasingly important to study the experience of countries in implementing projects on ldquogreenrdquo economy formation. We analyze the experience of Great Britain in creating special institutions to support ldquogreenrdquo investment raising funds mainly through the use of credit and warranty programs. The UK also demonstrates the experience of applying environmental taxes and a wide range of environmental financial products. Analysis of the experience of South Korea showed the country39s strategy for ldquogreenrdquo growth and the functioning of a framework law providing financial support to ldquogreenrdquo companies and private investment in this area. The experience of Canada province of Ontario shows that in the field of ldquogreenrdquo economy such support mechanisms are applied as ldquogreenrdquo bonds preferential tariff programs etc. Germany also demonstrates progress in addressing environmental problems by imposing requirements for the population in this area as well as the creation of preferential programs of financing ldquogreenrdquo projects. The analysis showed that in contrast to the studied countries in Russia there is no comprehensive mechanism of state support for environmental projects. The existing mechanisms are associated with the implementation of state programs in the sphere of hightech industries. Basing on regression analysis we estimated the influence of state support measures for

  10. 23 CFR 661.43 - Can other sources of funds be used to finance a queued project in advance of receipt of IRRBP funds?

    Science.gov (United States)

    2010-04-01

    ... PROGRAM § 661.43 Can other sources of funds be used to finance a queued project in advance of receipt of... project that has been approved for funding and placed on the queue and then be reimbursed when IRRBP funds... 23 Highways 1 2010-04-01 2010-04-01 false Can other sources of funds be used to finance a queued...

  11. Financing Innovation

    OpenAIRE

    William R. Kerr; Ramana Nanda

    2014-01-01

    We review the recent literature on the financing of innovation, inclusive of large companies and new startups. This research strand has been very active over the past five years, generating important new findings, questioning some long-held beliefs, and creating its own puzzles. Our review outlines the growing body of work that documents a role for debt financing related to innovation. We highlight the new literature on learning and experimentation across multi-stage innovation projects and h...

  12. Financing environmental and energy transition - Opinion of the Economic, Social and Environmental Council

    International Nuclear Information System (INIS)

    Virlouvet, Gael

    2013-09-01

    Ecological transition is a concrete and progressive measure, to be committed to here and now, aimed at better taking environmental challenges into account, with a strong regional dimension. The 4 main environmental challenges are attenuation and adaptation to climate change, the preservation of biodiversity, access to raw materials and the protection of human health. This approach is within the context of sustainable development. It implies a profound change from our current development model. Energy transition is one of the strands of ecological transition. Certain examples from abroad are worth bearing in mind in the field of energy transition (Germany, the United Kingdom), or the scope of stimulus packages aimed at ecological transition (South Korea). Ecological transition has a cost: collective anticipation. In France, available financing tools are above all those of traditional environmental policies, some of which benefit from dedicated financing. Other public policies integrate the challenges of ecological transition in a diverse manner, and mostly very poorly. As for the private financing of this transition, this depends firstly on the profitability of the economic framework, which is still far from optimal. It also depends on taking extra-financial criteria into account, something which is still very weak. To implement ecological transition, room for manoeuvre needs to be created in a constrained financial context: weakening growth, public expenditure contingencies, and difficulties in deploying private saving. To properly meet economic and social challenges, ecological transition must contribute to the economic dynamism of regions, facing the challenge of 'sustainable competitiveness'. To achieve this we need to identify the uncertainties which hinder the proactive approach of key stakeholders, to better articulate the various decision-making levels and improve the resilience of regional economies. The mobilisation of civil society is a key

  13. Collecting Solar Energy. Solar Energy Education Project.

    Science.gov (United States)

    O'Brien, Alexander

    This solar energy learning module for use with junior high school students offers a list of activities, a pre-post test, job titles, basic solar energy vocabulary, and diagrams of solar energy collectors and installations. The purpose is to familiarize students with applications of solar energy and titles of jobs where this knowledge could be…

  14. On the selection of financing instruments to push the development of new technologies: Application to clean energy technologies

    International Nuclear Information System (INIS)

    Olmos, Luis; Ruester, Sophia; Liong, Siok-Jen

    2012-01-01

    Achieving climate policy goals requires mobilizing public funds to bring still immature clean technologies to competitiveness and create new technological options. The format of direct public support must be tailored to the characteristics of technologies addressed. Based on the experience accumulated with innovation programs, we have identified those features of innovation that should directly condition the choice of direct support instruments. These include the funding gap between the cost of innovation activities and the amount of private funds leveraged; the ability of technologies targeted to compete for public funds in the market; the probability that these technologies fail to reach the market; and the type of entity best suited to conduct these activities. Clean innovation features are matched to those of direct support instruments to provide recommendations on the use to be made of each type of instrument. Given the large financing gap of most clean energy innovation projects, public grants and contracts should finance a large part of clean pre-deployment innovation. However, public loans, equity investments, prizes and tax credits or rebates can successfully support certain innovation processes at a lower public cost. Principles derived are applied to identify the instrument best suited to a case example. - Highlights: ► Public financing instruments must be tailored to the features of supported innovation. ► Instruments should trigger desired innovation at the lowest public cost possible. ► They should strike the right balance between technology selection and competition. ► Public funds mobilized through them should reach the innovating entity. ► Public loans, equity investments, prizes, and rebates should be used in specific cases.

  15. Wind power projects in the CDM: Methodologies and tools for baselines, carbon financing and sustainability analysis

    International Nuclear Information System (INIS)

    Ringius, L.; Grohnheit, P.E.; Nielsen, L.H.; Olivier, A.L.; Painuly, J.; Villavicencio, A.

    2002-12-01

    The report is intended to be a guidance document for project developers, investors, lenders, and CDM host countries involved in wind power projects in the CDM. The report explores in particular those issues that are important in CDM project assessment and development - that is, baseline development, carbon financing, and environmental sustainability. It does not deal in detail with those issues that are routinely covered in a standard wind power project assessment. The report tests, compares, and recommends methodologies for and approaches to baseline development. To present the application and implications of the various methodologies and approaches in a concrete context, Africa's largest wind farm-namely the 60 MW wind farm located in Zafarana, Egypt- is examined as a hypothetical CDM wind power project The report shows that for the present case example there is a difference of about 25% between the lowest (0.5496 tCO2/MWh) and the highest emission rate (0.6868 tCO 2 /MWh) estimated in accordance with these three standardized approaches to baseline development according to the Marrakesh Accord. This difference in emission factors comes about partly as a result of including hydroelectric power in the baseline scenario. Hydroelectric resources constitute around 21% of the generation capacity in Egypt, and, if excluding hydropower, the difference between the lowest and the highest baseline is reduced to 18%. Furthermore, since the two variations of the 'historical' baseline option examined result in the highest and the lowest baselines, by disregarding this baseline option altogether the difference between the lowest and the highest is reduced to 16%. The ES3-model, which the Systems Analysis Department at Risoe National Laboratory has developed, makes it possible for this report to explore the project-specific approach to baseline development in some detail. Based on quite disaggregated data on the Egyptian electricity system, including the wind power production

  16. Public financing of research projects in Poland – its image and consequences?

    Directory of Open Access Journals (Sweden)

    Feldy Marzena

    2016-12-01

    Full Text Available Both the size of appropriation as well as their distribution have had a profound impact on the shape and activities of the science sector. The creation of a fair system of distribution of public resources to research that will also facilitate the effective implementation of the pursued scientific policy goals represents a major challenge. The issue of the determination of the right proportions of individual distribution channels remains critical. Despite this task being the responsibility of the State, establishing cooperation in this respect with the scientific community is desirable. The implementation of solutions that raise the concerns of scientists leads to system instability and reduced effectiveness which is manifest among others in a lower level of indicators of scientific excellence and innovation in the country. These observations are pertinent to Poland where the manner in which scientific institutes operate were changed under the 2009–2011 reform. A neoliberal operating model based on competitiveness and rewarding of top rated scientific establishments and scientists was implemented. In light of these facts, the initiation of research that will provide information on how the implemented changes are perceived by the scientific community seems to be appropriate. The aim of this article is in particlar presenting how the project model of financing laid down under the reform is perceived and what kind of image has been shaped among Polish scientists. In order to gain a comprehensive picture of the situation, both the rational and emotional image was subject to analysis. The conclusions regarding the perception of the project model were drawn on the basis of empirical materials collected in a qualitative study the specifics of which will be presented in the chapter on methodology. Prior to that, the author discusses the basic models for the distribution of state support for science and characterises the most salient features of the

  17. Financing Vidalia

    International Nuclear Information System (INIS)

    Lagassa, G.

    1991-01-01

    This article examines the innovative techniques the participants in the Vidalia, Mississippi hydropower project used to overcome the numerous obstacles to the financing of the project. The topics of the article are early obstacles, funding and permitting, hydrology questions, matching income to debt, unorthodox provisions and a tough closing

  18. Energy research and development projects in the Nordic countries. Directory 1985. Energiforskningsprojekter i Norden. Katalog 1985

    International Nuclear Information System (INIS)

    1985-01-01

    This is the third directory of research, development and demonstration projects in the Nordic countries within the field of energy. The 1985 directory includes projects running in 1985. 1757 projects are described and all of them are financed through special public funds (i.e. external funding). The directory is published at the request of the Nordic Council of Ministers and a special Energy Research Committee set up by the Nordic energy ministers in order to coordinate and promote Nordic information sharing in the energy field. (author)

  19. Nr 254 - Opinion on the behalf of the Commission of foreign affairs in the finance bill project for 2013 (nr 235), Volume 5 - ecology, sustainable development and planning

    International Nuclear Information System (INIS)

    Le Guen, Jean-Marie

    2012-01-01

    After an introduction evoking the different parts of the finance bill project, its main programs and endowments, this report sets the associated national strategy within the context of the European and world agenda with respect to the protection of the environment, to climate change, and to international negotiations (Rio protocol, Durban conference, biodiversity). It outlines three main challenges: the international conference on climate of 2015 France has proposed to organize, the creation of European community on energy, and solving the current difficulties of the carbon trading scheme

  20. Capital budgeting under relational contracting: optimal ranking and duration criteria for schemes of concession, project-financing and public-private partnership

    OpenAIRE

    Biondi, Yuri

    2009-01-01

    International audience; Project-financing and public-private partnership schemes are joint projects of investment that are generally submitted to investment valuation criteria based on compound discounting. However, the theoretical basis of these criteria is at issue nowadays. According to recent studies on relational contracting economics and behavioral finance, joint projects of investment can be considered as special relational environments where the project's returns improve on alternativ...

  1. Modern money theory and ecological tax reform: A functional finance approach to energy conservation

    Science.gov (United States)

    McConnell, Scott L. B.

    This dissertation contributes to heterodox economics by developing a theoretical and policy-relevant link that will promote the conservation of energy while driving the value of the domestic currency. The analysis relies upon the theoretical foundation of modern money theory and functional finance, which states that "taxes-drive-money" where the value of a sovereign nation's currency is imputed through the acceptance by the sovereign nation of the currency in payment of taxation. This theoretical perspective lends itself to various public policy prescriptions, such as government employment policies or the employer of last resort (ELR), which has been discussed at length elsewhere (Wray 1998; Tcherneva 2007, Forstater 2003). This research contributes to this overall program by arguing that the basis for taxation under modern money theory allows public policy makers various alternatives regarding the make-up of the tax system in place. In particular, following functional finance, taxes do not have the sole purpose of paying for government spending, but rather drive the value of the currency and may be designed to perform other functions as well, such as penalizing socially undesirable behavior. The focus in this dissertation is on the amelioration of pollution and increasing energy conservation. The research question for this dissertation is this: what federally implemented tax would best serve the multiple criteria of 1) driving the value of the currency, 2) promoting energy conservation and 3) ameliorating income and wealth disparities inherent in a monetary production economy? This dissertation provides a suggestion for such a tax that would be part of a much larger overall policy program based upon the tenets of modern money theory and functional finance. Additionally, this research seeks to provide an important theoretical contribution to the emerging Post Keynesian and ecological economics dialog.

  2. Energy Efficiency Financing for Low- and Moderate-Income Households: Current State of the Market, Issues, and Opportunities

    Energy Technology Data Exchange (ETDEWEB)

    Leventis, G; Kramer, C; Schwartz, LC

    2017-08-09

    Ensuring that low- and moderate-income (LMI) households have access to energy efficiency is equitable, provides energy savings as a resource to meet energy needs, and can support multiple policy goals, such as affordable energy, job creation, and improved public health. Although the need is great, many LMI households may not be able to afford efficiency improvements or may be inhibited from adopting efficiency for other reasons. Decision-makers across the country are currently exploring the challenges and potential solutions to ramping up adoption of efficiency in LMI households, including the use of financing. The report’s objective is to offer state and local policymakers, state utility regulators, program administrators, financial institutions, consumer advocates and other LMI stakeholders with an understanding of: -The relationship between LMI communities and financing for energy efficiency, including important considerations for its use such as consumer protections -The larger programmatic context of grant-based assistance and other related resources supporting LMI household energy efficiency -Lessons learned from existing energy efficiency financing programs serving LMI households -Financing products used by these programs and their relative advantages and disadvantages in addressing barriers to financing or to energy efficiency uptake for LMI households

  3. Financing R&D Projects in Southern Italy: The “Technological Vouchers and Cooperative Research” Program

    Directory of Open Access Journals (Sweden)

    Gianpaolo Iazzolino

    2013-09-01

    Full Text Available The paper deals with the evaluation and financing of research and innovation projects. The paper analyzes and discusses the “Technological Vouchers and Cooperative Research” program in the Calabria Region (Southern Italy, as a program for financing R&D projects in a geographical area far behind in development. Three real cases of R&D projects are described. The program was effective as regards the stimulus to realizing R&D activities by Calabrian SMEs and furthermore in relation to the improvement of cooperation between SMEs, research centers, universities and technological laboratories. The weak points of the program mainly regard the evaluation phase that made it impossible to get a feedback useful for policy and for driving future agenda.

  4. Landfill Gas Energy Project Development Handbook

    Science.gov (United States)

    View handbook that provides an overview of LFG energy project development guidance and presents the technological, economic and regulatory considerations that affect the feasibility and success of these projects.

  5. New directions in electric power financing

    International Nuclear Information System (INIS)

    Jechoutek, K.G.; Lamech, Ranjit

    1995-01-01

    This paper argues that it is necessary to raise the eyes from the current focus on independent power projects, buttressed by guarantees, to the longer horizon of electric power financing in open markets. Transitional strategies will need to move beyond the commonly seen IPP activity that occurs without fundamental sector reform, and demand-side incentives that introduce further market distortions. These efforts will have to focus on macroeconomic stabilization, removal of price distortions, as well as sector and corporate reform. Mobilization of domestic capital will be essential for sustainable sector financing. Although guarantees to encourage power sector investment can be designed to selectively cover risks, their elimination through fundamental sector reform should be the ultimate goal. Over the longer-term traditional corporate finance should become a more common financing strategy than project finance. Innovations in performance risk management and consumer credit will be crucial to the financing of energy efficiency. (author)

  6. Who? What? Why? Wind power and the finance industry

    International Nuclear Information System (INIS)

    Rave, K.

    1999-01-01

    This article focuses on the financing of wind energy projects and examines worldwide energy markets. Questioning raised include who invests in energy project and seeks financing; where is the project to be sited and under what legal background the investment is to be made; and how much power can be generated and the effect of this on the proposal feasibility. The provision of a stable basis for financing, the probable integration of wind power into energy services, the use of wind energy to supply the carbon dioxide reductions obligations, and the opportunities for financial services are discussed

  7. Management of projects for energy efficiency

    Directory of Open Access Journals (Sweden)

    Vuković Miodrag M.

    2014-01-01

    Full Text Available In an effort to lower operating costs and improve competitiveness, many organizations today are preparing projects in the field of energy saving. On the other hand, companies that provide energy services and implement these projects, need to build competences in this area to well manage the projects which are subject to energy savings and by this to justify the confidence of investors. This paper presents research that shows the most important factors for the development of local capacity in project management in the field of energy efficiency.

  8. Impact of large-scale energy efficiency programs on utility finances and consumer tariffs in India

    International Nuclear Information System (INIS)

    Abhyankar, Nikit; Phadke, Amol

    2012-01-01

    The objective of this paper is to analyze the effect on utility finances and consumer tariffs of implementing utility-funded demand-side energy efficiency (EE) programs in India. We use the state of Delhi as a case study. We estimate that by 2015, the electric utilities in Delhi can potentially save nearly 14% of total sales. We examine the impacts on utility finances and consumer tariffs by developing scenarios that account for variations in the following factors: (a) incentive mechanisms for mitigating the financial risk of utilities, (b) whether utilities fund the EE programs only partially, (c) whether utilities sell the conserved electricity into spot markets and (d) the level of power shortages utilities are facing. We find that average consumer tariff would increase by 2.2% although consumers participating in EE programs benefit from reduction in their electricity consumption. While utility incentive mechanisms can mitigate utilities’ risk of losing long-run returns, they cannot address the risk of consistently negative cash flow. In case of power shortages, the cash flow risk is amplified (reaching up to 57% of utilities annual returns) and is very sensitive to marginal tariffs of consumers facing power shortages. We conclude by proposing solutions to mitigate utility risks. - Highlights: ► We model implementation of energy efficiency (EE) programs in Delhi, India. ► We examine the impact on utility finances and consumer tariffs from 2012 to 2015. ► We find that average consumer tariffs increase but participating consumers benefit. ► Existing regulatory mechanisms cannot address utilities’ risk of negative cash flow. ► Frequent true-ups or ex-ante revenue adjustment is required to address such risk.

  9. Environmental impacts of wind-energy projects

    National Research Council Canada - National Science Library

    Committee on Environmental Impacts of Wind Energy Projects, National Research Council

    2007-01-01

    .... Although the use of wind energy to generate electricity is increasing rapidly in the United States, government guidance to help communities and developers evaluate and plan proposed wind-energy projects is lacking...

  10. Financing petroleum agreements

    International Nuclear Information System (INIS)

    Robson, C.J.V.

    1994-01-01

    This chapter describes the typical type of financing agreements which are currently used to finance North Sea petroleum projects whether they are in the cause of development or have been developed and are producing. It deals with the agreements which are entered into to finance borrowings for petroleum projects on a non-resource or limited resource basis. (UK)

  11. Crowdfunding, an alternative source of financing construction and real estate projects. Guideline for Developers on how to use this tool in medium size projects.

    OpenAIRE

    Sierra Mercado, David

    2017-01-01

    Real estate crowdfunding comprises the process of investing in a real estate projects using online platforms, specialized websites that can reach a large number of potential investors, changing in just few years the traditional approach of the real estate industry. This phenomenon has become a trend among small and medium project developers, which nowadays have this additional source of financing. However, many people still unfamiliar about this new business model. Therefore, it is relevant t...

  12. Advanced energy projects FY 1992 research summaries

    International Nuclear Information System (INIS)

    1992-09-01

    The Division of Advanced Energy Projects (AEP) provides support to explore the feasibility of novel, energy-related concepts that evolve from advances in basic research. These concepts are typically at an early stage of scientific definition and, therefore, are beyond the scope of ongoing applied research or technology development programs. The Division provides a mechanism for converting basic research findings to applications that eventually could impact the Nation's energy economy. Technical topics include physical, chemical, materials, engineering, and biotechnologies. Projects can involve interdisciplinary approaches to solve energy-related problems. Projects are supported for a finite period of time, which is typically three years. Annual funding levels for projects are usually about $300,000 but can vary from approximately $50,000 to $500,000. It is expected that, following AEP support, each concept will be sufficiently developed and promising to attract further funding from other sources in order to realize its full potential. There were 39 research projects in the Division of Advanced Energy Projects during Fiscal Year 1992 (October 1, 1991 -- September 30, 1992). The abstracts of those projects are provided to introduce the overall program in Advanced Energy Projects. Further information on a specific project may be obtained by contacting the principal investigator, who is listed below the project title. Projects completed during FY 1992 are indicated

  13. International oil and gas finance review 1997

    International Nuclear Information System (INIS)

    Anon.

    1997-01-01

    This first edition covers financing projects in the developing world, mergers and acquisitions; mitigating cross-border risk; basic risk in energy markets; real-time oil and gas pricing issues; oil and gas equity; risk management; project finance. The yearbook also features more regional specific topics such as: gas transportation in the Mercosur; 25 years of growth in the UAE; natural gas in Mexico; LNG in the Far East; legal issues surrounding the Russian oil and gas industry; LNG projects in the Middle East; the North Sea; and financing the oil and gas industry of Southern and South Africa. (UK)

  14. Linking mortgage finance incentives to a voluntary home energy rating system: Insight into consensus building

    International Nuclear Information System (INIS)

    Jenior, M.-M.

    1994-01-01

    A collaborative consensus process was created to implement a program linking voluntary home energy rating systems (HERS) to mortgage incentives. The participants involved many of the stakeholders or interest groups who have a role in implementing and who will be affected by energy efficiency mortgate incentive programs linked to HERS. The participants included representatives from the primary and secondary mortgage market; real estate, home building, and remodeling industries; utilities; state, local, consumer, and environmental organizations; and home energy rating providers. The participants defined the actions required to implement as well as the technical requirements of a program linking home energy ratings and mortgage finance. Building on the recommendations of the collaborative process, members of the collaborative continue to take initiatives to put a Home Energy Rating Systems Council into place, in planning pilot programs for developing and testing ways to link HERS and mortgage programs, and in making home buyers and owners aware of existing mortgage incentives. At the same time, mortgage providers are working to develop uniformity among mortgage incentive programs and with the US Department of Energy to develop procedures to verify the relative accuracy of HERS calculation tools and their application, and with the emerging HERS Council to develop the guidelines for voluntary HERS required under the Energy Policy Act of 1992

  15. Associations - Communities - Residents. Building together a citizen-based project of renewable energies - Methodological guide

    International Nuclear Information System (INIS)

    Ramard, Dominique; Fleury, Laurianne; Peyret, Albert; Ghesquiere, Christine; Kauber, Markus; Jourdain, Pierre

    2012-11-01

    This guide first outlines the challenges and stakes of citizen-based renewable energies: example of a necessary energy transition in Brittany, interest of a local production of renewable energies, examples in other European countries, and emergence of a citizen-based energy movement in France. The second part presents the four main phases of such a project (diagnosis, development, construction, and exploitation), the main issues to be addressed, and the main steps of a citizen-based renewable energy project (technical, legal and financial, and citizen-related aspects during the different phases). The third part describes how to elaborate a citizen-based project: by addressing the project dimensions, by defining a legal specification, by performing a provisional business model, by choosing an appropriate legal structure, by creating a project company, and by mobilizing local actors). The last part addresses how to finance the project: by building up own funds, by asking banks for support, and by citizen participation to investment

  16. Specialized financing techniques

    International Nuclear Information System (INIS)

    Shepherd, J.

    1992-01-01

    Specific financing techniques applicable to wind energy projects in Canada are discussed. A limited partnership is the classic Canadian approach to tax-advantaged financing. For a typical wind project, the limited partners would get an internal rate of return of around 8% over 20 years as well as income tax deductions on Class 34 investments. This rate can be improved if the investors borrow some of the money; they get tax-free cash flow while having deductible loan interest, raising their rate of return after taxes to ca 9-10%. Special situation investors can get to take all of the Class 34 deduction right away, raising their return up to the 12% range. These investors include principal business corporations (such as utilities or oil companies), or companies who have sold their business. A second type of financing structure is related to inflation-indexed debt. The loan is structured like a mortgage, with the annual payments indexed to inflation but nevertheless low enough to provide an early positive cash flow from the project. Other possible financing structures are the immigrant investor fund and the provincial incentive corporations

  17. Islamic Public Infrastructure Financing: An Analysis of Alternative Financing Instruments with Application in Developing Countries

    National Research Council Canada - National Science Library

    Islam, Saiful

    2004-01-01

    This project examines the structure of public infrastructure financing in Indonesia and examines whether financing based on Islamic principles is a feasible alternative to current financing mechanisms...

  18. Moonlight project promotes energy-saving technology

    Science.gov (United States)

    Ishihara, A.

    1986-01-01

    In promoting energy saving, development of energy conservation technologies aimed at raising energy efficiency in the fields of energy conversion, its transportation, its storage, and its consumption is considered, along with enactment of legal actions urging rational use of energies and implementation of an enlightenment campaign for energy conservation to play a crucial role. Under the Moonlight Project, technical development is at present being centered around the following six pillars: (1) large scale energy saving technology; (2) pioneering and fundamental energy saving technology; (3) international cooperative research project; (4) research and survey of energy saving technology; (5) energy saving technology development by private industry; and (6) promotion of energy saving through standardization. Heat pumps, magnetohydrodynamic generators and fuel cells are discussed.

  19. Economic Impacts from the Boulder County, Colorado, ClimateSmart Loan Program: Using Property-Assessed Clean Energy Financing

    Energy Technology Data Exchange (ETDEWEB)

    Goldberg, M.; Cliburn, J. K.; Coughlin, J.

    2011-04-01

    This report examines the economic impacts (including job creation) from the Boulder County, Colorado, ClimateSmart Loan Program (CSLP), an example of Property-Assessed Clean Energy (PACE) financing. The CSLP was the first test of PACE financing on a multi-jurisdictional level (involving individual cities as well as the county government). It was also the first PACE program to comprehensively address energy efficiency measures and renewable energy, and it was the first funded by a public offering of both taxable and tax-exempt bonds.

  20. Assessment of instruments in facilitating investment in off-grid renewable energy projects

    International Nuclear Information System (INIS)

    Shi, Xunpeng; Liu, Xiying; Yao, Lixia

    2016-01-01

    Renewable off-grid solution plays a critical role in supporting rural electrification. However, off-grid Renewable Energy (OGRE) project financing faces significant challenges due to limited financing access, low affordability of consumers, high transactions costs and etc. Various supporting instruments have been implemented to facilitate OGRE investment. This study assesses the effectiveness of those instruments with a framework consists of three dimensions: feasibility, sustainability and replicability. The weights of each dimension in the framework and the scores of each instrument are assessed by expert surveys based on the Delphi method. It is suggested that all the three dimensions should be taken into consideration while assessing the instruments, among which feasibility and sustainability are considered as the most important dimensions in the assessment framework. Furthermore, the top-5 most effective instruments in facilitating OGRE investment are local engagement in operation and maintenance, loan guarantee, start-up grant, end user financing, and concessional finance. Developing countries that need to increase electrification, such as most of the ASEAN member states, could use these top scored instruments despite of their limited amount of public finance. - Highlights: •Assess the effectiveness of instruments for promoting financing for OGRE projects. •A three-dimension assessment framework: feasibility, sustainability, replicability. •Use online surveys and the Delphi method to collect experts’ assessment. •The most effective instruments: local engagement, loan guarantee, and start-up grant.