Financial Risk Management Instruments For Renewable Energy Projects
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Financial Risk Management Instruments for Renewable Energy Projects by United Nations Environment Programme. Division of Technology, Industry, and Economics Pdf
Appropriate risk management tools can help remove some of the barriers to financing Renewable Energy Technology (RET) projects, particularly in developing countries where risk and risk perceptions are highest. That is why UNEP is working on a comprehensive overview of currently available and potential financial risk management instruments for Renewable Energy Technology (RET) projects. This study will pave the way for an upcoming GEF project that will promote the use of financial risk management instruments that favor the development of RETs.
Energy Finance and Economics by Betty Simkins,Russell Simkins Pdf
Thought leaders and experts offer the most current information and insights into energy finance Energy Finance and Economics offers the most up-to-date information and compelling insights into the finance and economics of energy. With contributions from today's thought leaders who are experts in various areas of energy finance and economics, the book provides an overview of the energy industry and addresses issues concerning energy finance and economics. The book focuses on a range of topics including corporate finance relevant to the oil and gas industry as well as addressing issues of unconventional, renewable, and alternative energy. A timely compendium of information and insights centering on topics related to energy finance Written by Betty and Russell Simkins, two experts on the topic of the economics of energy Covers special issues related to energy finance such as hybrid cars, energy hedging, and other timely topics In one handy resource, the editors have collected the best-thinking on energy finance.
Green Banking is the first guide encompassing all the disciplines necessary to realize renewable energy projects. This book focuses on cost-competitive and mature technologies, and on the processes enabling to develop, finance and execute such utility-scale projects. The book starts with the aspects relevant for every form of renewable energy. It covers essential themes such as the role of renewables amid a changing energy world, the importance of the regulatory regime, its social acceptance and bankability criteria, to name only a few. Chapters describe project financings vehicles for a range of renewable energy technologies including solar photovoltaic power plants, onshore wind farms and offshore wind farms. The book give readers a unique perspective on how renewable energy projects are realized, and is a go-to reference manual for understanding how the different project stakeholders act. All of the articles are provided by authors with an ample experience in renewable energies and many years experience. This book is especially useful for people working in this industry or students willing to get better knowledge out of their field of experience.
Managing Energy Risk by Markus Burger,Bernhard Graeber,Gero Schindlmayr Pdf
An overview of today's energy markets from a multi-commodity perspective As global warming takes center stage in the public and private sectors, new debates on the future of energy markets and electricity generation have emerged around the world. The Second Edition of Managing Energy Risk has been updated to reflect the latest products, approaches, and energy market evolution. A full 30% of the content accounts for changes that have occurred since the publication of the first edition. Practitioners will appreciate this contemporary approach to energy and the comprehensive information on recent market influences. A new chapter is devoted to the growing importance of renewable energy sources, related subsidy schemes and their impact on energy markets. Carbon emissions certificates, post-Fukushima market shifts, and improvements in renewable energy generation are all included. Further, due to the unprecedented growth in shale gas production in recent years, a significant amount of material on gas markets has been added in this edition. Managing Energy Risk is now a complete guide to both gas and electricity markets, and gas-specific models like gas storage and swing contracts are given their due. The unique, practical approach to energy trading includes a comprehensive explanation of the interactions and relations between all energy commodities. Thoroughly revised to reflect recent changes in renewable energy, impacts of the financial crisis, and market fluctuations in the wake of Fukushima Emphasizes both electricity and gas, with all-new gas valuation models and a thorough description of the gas market Written by a team of authors with theoretical and practical expertise, blending mathematical finance and technical optimization Covers developments in the European Union Emissions Trading Scheme, as well as coal, oil, natural gas, and renewables The latest developments in gas and power markets have demonstrated the growing importance of energy risk management for utility companies and energy intensive industry. By combining energy economics models and financial engineering, Managing Energy Risk delivers a balanced perspective that captures the nuances in the exciting world of energy.
Introduction to Project Finance in Renewable Energy Infrastructure by Farid Mohamadi Pdf
What is project finance? What makes project or structured finance so relevant for large renewable energy infrastructure? Which vocabulary do I need to know in order to speak the same language during meetings with lawyers, investors, bankers and engineers? These questions and many more are answered throughout this book, offering real world examples to bridge the gap between theory and practice. The book details the role of each stakeholder in the development of renewable energy projects, the interconnection between all the agreements, the financial process from fundraising to financial close, the processes of due diligence, risk analysis, project investment valuation and much more. It also provides with an introduction to Portfolio Management using renewable energy assets and an explanation of the role of Climate Finance in green energy investments. The commented glossary enables readers to unpick the jargon used in project finance for renewable energy, and the numerous creative figures and comprehensive tables aid with understanding. Offering a complete picture of the discipline, Introduction to Project Finance in Renewable Energy Infrastructure will be of value to professionals, engineers and academics alike interested in understanding the process and components of project finance in renewable energy infrastructures, in both private and public-private contexts.
Renewable energy finance: Institutional capital by International Renewable Energy Agency IRENA Pdf
Transforming the global energy system calls for massive mobilisation of capital. This brief provides recommendations to harness institutional investment for renewable energy projects.
Green Infrastructure Finance by Aldo Baietti,Andrey Shlyakhtenko,Roberto La Rocca,Urvaksh D. Patel Pdf
This report is a structured compendium of leading initiatives and activities put forward to accelerate private investment flows in green growth. It summarizes current investment challenges of green projects as well as proposed solutions, financing schemes and initiatives that have set the stage for scaling up green infrastructure investments.
Valuation of Renewable Energy Investments by Christian Hürlimann Pdf
In this book, Christian Hürlimann examines valuation methods and their application in the context of managerial finance within renewable energy investments. Besides a review of classical finance models, the application of other contemporary techniques are discussed. Based on a mixed-methods approach, current practices in performing valuation are empirically analyzed among German and Swiss investors. The developed concepts provide practitioners tools to define equity value drivers, consider risk treatments and value investments along the two dimensions of value creation and value protection.
'offers knowledge and inspiration to promote renewable energy in developing and industrialized countries' Klaus Toepfer, Executive Director of UNEP From technology to financing issues, Renewable Energy offers a comprehensive and authoritative review of the determining factors that drive worldwide dissemination of renewable energy technologies. With a clear emphasis on policy and action, contributions from internationally renowned experts combine to form a holistic picture of the current status, impacts and future potential of renewable energy. Addressing the situation in both developing and developed countries, each chapter reviews in detail a different issue, to present extensive information on social, environmental, political, economic and technological aspects. This will be essential reading for professionals in renewable energy, in particular policy-makers, researchers, NGOs and energy consultants, and a valuable resource for teachers and students of renewable energy, environmental studies, development studies, political science and international relations.
Development of Risk Management and Investment Strategies in Renewable Energy Industry by Cheuk-Wing Lee,李卓穎 Pdf
This dissertation, "Development of Risk Management and Investment Strategies in Renewable Energy Industry" by Cheuk-wing, Lee, 李卓穎, was obtained from The University of Hong Kong (Pokfulam, Hong Kong) and is being sold pursuant to Creative Commons: Attribution 3.0 Hong Kong License. The content of this dissertation has not been altered in any way. We have altered the formatting in order to facilitate the ease of printing and reading of the dissertation. All rights not granted by the above license are retained by the author. Abstract: Rapid deployment of renewable energy worldwide is desirable in order to address the issues of climate change, meet mandatory renewable energy targets and provide sufficient economic development opportunities. Fiscal expenditure and funding constraints indicate that substantial investments are required from public and private sectors to support the industry. Only with enough attractive investment opportunities and effective risk management and investment strategies, public, private and institutional investors can become significant sources of capital for renewable energy. Apart from that, renewable energy developments are also slowed down by market failures, economic barrier, informational barrier, awareness barrier, socio-cultural barrier, institutional barrier and policy barrier. A new financing instrument, called hybrid bond, to build renewable energy projects is proposed. In response to concerns over the barriers, the hybrid bond is composed by a portfolio of renewable energy projects. Numerical examples show that the proposed model is able to achieve the dual goals of financing renewable energy project as well as mitigating market, credit, operational, liquidity and political risks with the sale of a hybrid bond. Apart from that, a three-level top down strategy for renewable energy investment is designed to overcome the barriers. The proposed strategy is a structured, effective and flexible framework. The first-level of the top down strategy aims to identify and analyze the renewable energy global market leaders in economics and renewable energy policy. The second-level aims to specify renewable energy sector that presents the most attractive investment opportunity. And the third-level aims to select the most promising renewable energy investment vehicles for investors. However, a direct comparison between countries, sectors and investment vehicles, especially qualitative comparison, is difficult and time-consuming. To further improve the effectiveness, an innovative four-level decoupled top down approach for renewable energy investment is proposed. The proposed framework is capable to identify and analyze the renewable energy global market leaders that included: (1) a group of outperforming countries with strong economic drivers and renewable energy drivers, (2) a group of renewable energy sectors that presents comparative advantages, (3) a group of renewable energy investment vehicles that outperforms other competitors, (4) and finally the most promising renewable energy investment vehicle. Results show that the decoupled top down approach both increases effectiveness and capability. In practice, investors often prefer an index than a framework to make their investment decisions. Therefore, a composite index, so-called Renewable Energy Responsible Investment Index (RERII), is proposed. The index is capable to reflect a comprehensive assessment of existing and future conditions of renewable energy and is also capable to reveal the economic, environmental, social and country governance aspects related to renewable energy industry. In addition, it can be easily integrated into the top down and the decoupled top down strategies. The index has been applied into 50 countries with 17 indicators. Results show that the index does not only provide an effective platform for investors, but also allow the index users to perform necessary comparative analyses.
Foundations of Energy Risk Management by GARP (Global Association of Risk Professionals) Pdf
GARP's Fundamentals of Energy Risk Management introduces investors to the basic components and some of the basic terminology used in the energy industry. It covers the commodity cycle, energy use and sources, and various risk types, various energy products and the markets where energy is traded. It also introduces certain risk management fundamentals and real option thinking. The book is GARP's required text used by risk professionals looking to obtain their Certificate in Energy Risk Management.
Project Finance in Construction by Tony Merna,Yang Chu,Faisal F. Al-Thani Pdf
Project finance has spread worldwide and includes numerousindustrial projects from power stations and waste-disposal plantsto telecommunication facilities, bridges, tunnels, railwaynetworks, and now also the building of hospitals, educationfacilities, government accommodation and tourist facilities. Despite financial assessment of PF projects being fundamental tothe lender’s decision, there is little understanding of howthe use of finance is perceived by individual stakeholders; why andhow a financial assessment is performed; who should be involved;where and when it should be performed; what data should be used;and how financial assessments should be presented. Current uncertainty in financial markets makes many sponsors ofconstruction project financings carefully consider bank liquidity,the higher cost of finance, and general uncertainty for demand.This has resulted in the postponement of a number of projects incertain industry sectors. Governments have seen tax receiptsdrastically reduced which has affected their ability to financeinfrastructure projects, often irrespective of the perceiveddemand. Equity providers still seek to invest, however there areless opportunities due to market dislocation. Due to the demand forglobal infrastructure it is believed that project financings willreturn to their pre-crunch levels, or more so, howeverlenders’ liquidity costs will be passed on to the borrowers.Lenders will also be under stricter regulation both internally andexternally. The steps outlined in the guide are designed to provide a basicunderstanding for all those involved or interested in bothstructuring and assessing project financings. Secondary contractsinvolving constructors, operators, finance providers, suppliers andofftakers can be developed and assessed to determine theircommercial viability over a projects life cycle. Special Features a structured guide to assessing the commercial viabilityof construction projects explains economic metrics to use in the decision makingprocess detailed case study shows how stakeholders apply the concept ofproject finance
Green Finance Instruments, FinTech, and Investment Strategies by Nader Naifar,Ahmed Elsayed Pdf
In the COVID 19 post-pandemic era, sustainable financial systems are increasingly getting the attention they deserve, and policymakers are now moving toward investment and financing decisions based on sustainable development. Green finance plays an important role in mobilizing financial resources and hedging against environmental risk to achieve financially sustainable systems. Moreover, green financial instruments offer viable alternatives for investors and regulators with regard to portfolio management and risk minimization. Over the last few years, financial technology (FinTech) has grown to become one of the most topical areas in the global financial services industry. The development of distributed ledger technology, big data, smart contracts, peer-to-peer lending platforms, biometrics, and new digital has sparked innovation in the financial services industry and the development of new financing and investment strategies. The combination of sustainability and FinTech can help policymakers to achieve ESG targets when making investment and financing decisions. This book showcases a collection of recent advances in green finance and FinTech and explores their impact in achieving sustainable finance, investment strategy-making, and portfolio management. Presenting theoretical frameworks and the latest empirical studies in the field of green finance and FinTech, it offers a valuable asset for academics, professionals, policymakers, regulators, and investors who want to understand in-depth the impact of green finance and FinTech on future investment and financing strategies in the post-pandemic era.
Sustainability thinking is rapidly gaining traction. It offers an inspiring vision for the future of the world and provides significant business and investment opportunities. Based on insights from over 300 empirical studies, this book explores the possibilities in the field of renewable energy finance, carbon trading, and sustainable investing. In addition, it describes innovative finance mechanisms – such as green bonds and peer-to-peer lending – that may further spur environmental and social sustainability. By taking an empirical, fact-based approach, this book aims to provide investors, business executives, and policymakers with a more thorough understanding of how sustainable finance can create value for business and society. Key words: Sustainable finance, renewable energy finance, cleantech, green investing, sustainable investments, responsible investments, carbon trading, carbon finance, ESG, impact investing.