【作者】 王林；

【导师】 徐志刚；

【作者基本信息】 南京农业大学 ， 工商管理硕士（专业学位）， 2019， 硕士

【摘要】 近年来,随着中国经济的快速发展,中国的经济实力得到快速提升;但在发展经济的同时,也产生了严重的环境污染问题;为此我国政府开始出台一些可再生能源的优惠政策并且大力扶持清洁能源和可再生能源的发展;风能作为一种清洁能源和可再生能源,有着很大的发展空间,目前我国风力发电也处于快速发展期,许多企业关注这一行业。风电项目的财务评估是项目投资前的重要环节,对投资者科学判断并作出投资决策有重要指导意义。目前,我国对风电项目的财务评估主要还是使用传统的项目财务评估方法,但这一方法对于评估风电项目有明显的局限性,比如说:此种方法会重点关注项目的初始建设投资和投资收回问题,会选择成本比较低的风机,从而对项目后期的运行风险和维护费用有一定的影响;需要优化。本文在分析目前阶段风电项目传统财务评估方法的固有特点,风电项目在运用传统财务评估方法优劣势的基础上,构建适合当前我国风力风电投资项目的全生命周期成本模型。在全生命周期成本管理的基础上进行风电项目财务评估方案的重新设计,提出风电项目全生命周期构成模型,以及在此基础上的财务评估方法及评估指标。然后,以H公司盐城大丰风电场为例,分别采用传统财务评估方法和全生命周期方法进行财务评价并进行比较。最后,以H公司盐城大丰风电场为例,就全生命周期财务评估法进行敏感性分析,分析风电项目各阶段成本和特点对评估结果的影响,明确风电项目投资评估的重要关注点,为风电项目投资财务评估策略的优化提供依据,并研究评估策略的优化方案和措施。更多还原

【Abstract】 In recent years,with the rapid development of China’s economy,China’s economic strength has been rapidly improved;but while developing the economy,it has also caused serious environmental pollution problems;for this reason,the Chinese government has begun to introduce some preferential policies for renewable energy and vigorouslySupport the development of clean energy and renewable energy Wind energy,as a kind of clean energy and renewable energy,has great development space.At present,wind power generation in China is also in a period of rapid development.Many enterprises have begun to enter this industry.The financial evaluation of the wind power project is an important link before the investment of the project,and it has important guiding significance for investors to make scientific judgments and make investment decisions.At present,the financial evaluation of wind power projects in China is mainly the financial evaluation method of traditional projects used,but this method has certain limitations.For example,this method will focus on the initial construction investment and investment recovery of the project,and will select the fan with lower cost,which will have certain impact on the operation risk and maintenance cost of the project later;it needs to be optimized.This paper analyzes the inherent characteristics of traditional financial evaluation methods for wind power projects at the current stage.Based on the advantages and disadvantages of traditional financial evaluation methods,wind power projects construct a full life cycle cost model suitable for current wind power investment projects in China.Based on the life cycle cost management,the wind power project financial evaluation plan is redesigned,and the wind power project life cycle composition model is proposed,as well as the financial evaluation methods and evaluation indicators based on this.Then,taking the Yancheng Dafeng Wind Farm of H Company as an example,the traditional financial evaluation method and the whole life cycle method are used for financial evaluation and comparison.Finally,taking the Yancheng Dafeng Wind Farm of H Company as an example,the sensitivity analysis of the whole life cycle financial evaluation method is carried out,and the impact of the cost and characteristics of each stage of the wind power project on the evaluation results is analyzed,and the important concerns of the wind power project investment evaluation are clearly defined.Provide a basis for the optimization of the financial evaluation strategy for wind power project investment,and study the optimization plan and measures for the evaluation strategy.更多还原