Search

Due to the complexity of various risk factors and their interactive effects in the risk management of renewable energy project investment, this study uses Hierarchical Holographic Modelling (HHM) and WSR–RFRM–TSS (WRT) methods to construct a risk assessment model for energy project investment. Firstly, we comprehensively identify the risk sources by applying HHM method, and then construct the risk assessment index framework based on the Wuli–Shili–Renli (WSR) methodology. To identify the most significant risk indicators, the risk factors are secondarily filtered by using the Risk Filtering, Ranking, and Management Framework (RFRM). Following that, multi-dimensional risk scenarios are created by incorporating the Theory of Scenario Structuring (TSS). Finally, an empirical study is conducted using the Karot Hydroelectric Project project as a case study. The results show that in the two-dimensional risk scenarios, the highest risk value is the coupling of political stability risk and institutional imperfection risk. In the three-dimensional risk scenarios, the highest risk value is the coupling of political stability risk, institutional imperfection risk and communication barrier risk. The risk values of two-dimensional risk scenarios are generally higher than those of one-dimensional risk scenarios and three-dimensional risk scenarios. [ABSTRACT FROM AUTHOR]

Multilateral Development Banks (MDBs) are extensively involved in the Paris Climate Agreement and play a key role in climate finance. However, the amounts recently channeled to carbon-based projects may raise doubts about this involvement. This empirical approach seeks to explore whether MDB participation actually favors renewable energy projects in developing countries, aligning with their commitment to this Agreement. An empirical analysis is conducted to explore the determinants of MDBs’ participation in energy infrastructure projects developed in 64 countries using data from 2011 to 2018 obtained from the World Bank’s Private Participation in Infrastructure Database. The results reveal that MDBs’ participation is higher in renewable energy projects, confirming their commitment to clean energy; however, this is not confirmed by the amount of financial support provided. [ABSTRACT FROM AUTHOR]

The aim of this research is to reveal the effects of taxation and incentives under a single roof, combined with a regularly adjusted subsidy, in the renewable energy sector. In terms of financial investment, the study looks at how tax incentives and other forms of support for renewable energy sources are evaluated. The essential features of renewable energy sources are that they help to protect the environment, and renewable energy investments are a hot topic on the agendas of many countries. The Turkish energy market has been exposed to the liberalization process. So, the government, investors, and the people of the country are the main owners of these projects. Each partner directly or indirectly affects these investments or is involved in them. These things should be managed in a way that keeps the whole system in balance. This method turns the problem into a multi-objective optimization problem, with the goal of maximizing the benefits for all stakeholders. This research investigates the items related to renewable energy investments to analyse the risk factors for system risk mitigation and tax approaches. [ABSTRACT FROM AUTHOR]

Summary: The majority of countries attempting to switch from conventional energy sources to renewable energy sources have decided to make significant investments in these projects. Considering renewable energy is an industry with a high level of investment expenses, assessing investment risks is critical to making efficient investment strategies. Howbeit, since risk assessment is dependent on expert opinions, uncertainty in the judgment of the consultants should be avoided. In this study, a novel hybrid failure mode and effect analysis approach is proposed to assess the investment risks of renewable energy projects. Results indicated that wind energy is the most appropriate alternative considering technical, marketability, environmental, economic, social aspects. Moreover, the sensitivity analysis is carried out and the robustness and validity of results from the proposed approach are examined. Finally, six different scenarios are considered and the results are interpreted accordingly. The findings of this study will be valuable to authorities, investors, and enterprises involved in the renewable energy projects and evaluating their investment. [ABSTRACT FROM AUTHOR]

The emerging disputes in the energy sector are the subject of litigation, and with the increase in global demand for energy production from its renewable sources, investments tended to allow the exploration and development of renewable energy sources in countries that may lack in this field, and to encourage investment and investors, it became necessary to have a stable legislative framework that provides binding protection For investors to settle disputes as stipulated in local laws and bilateral and multilateral investment treaties. Renewable energy sources, which take place between the investor and the host country for the investment or one of its agencies, include a set of intertwined topics, in which disagreements and disputes may arise between the two parties. renewable and in a manner that preserves the rights of both parties as well. Therefore, arbitration has become a topic of interest They are in the field of investment contracts in general, and the importance of this method increased after the flourishing of international trade, as it became in the form of international organizations, bodies, and centers. [ABSTRACT FROM AUTHOR]

A human-induced rise in temperatures is exacerbating droughts and other adverse weather events. Fossil fuels as a primary energy source contribute to global warming. It is, therefore, necessary to boost the number of renewable energy initiatives. To better comprehend how to improve renewable energy initiatives, simultaneous evaluation of a range of influential factors is required. This study examined financial development, economic progress, and energy pricing to understand how they affect energy consumption. Using the nonlinear autoregression distributed lag model, we analyzed the effect of financial inclusion on renewable energy consumption in China's 30 provinces from 2000 to 2020. The data showed that financial development has a considerable impact on renewable energy use. The findings of this study revealed that every 1% increase in financial development leads to a 0.24% increase in renewable energy use. This study's primary goal is to offer China a framework for increasing renewable energy investments that are socially and economically viable. This study also paves the way for other nations that import energy. As a result, it will be easier to meet sustainability targets if more projects employ renewable energy after this pandemic. • There is a dire need to measure the relationship between financial inclusion and renewable energy development. • Every 1% increase in financial development leads to a 0.24% increase in renewable energy use in case of China. • Every 1% increase in the urban population leads to an increase in renewable energy by 1.22%. • Financial development, renewable energy use is negatively associated with a rise in income disparity. • A 1% increase in economic disparity is associated with a 0.58% decrease in the use of renewable energy. [ABSTRACT FROM AUTHOR]

Energy plays a vital role in the development and well-being of any country. Finding the right energy projects and investing in them could lead to improving the overall condition of nations. Despite the importance of evaluation of energy projects, several factors complicate this issue. The efficiency of projects, reliability of assessments and uncertainty are some of the major issues in energy project evaluation. To simultaneously address all of these essential issues, this paper presents a new approach in renewable energy project evaluation based on the concepts of data envelopment analysis (DEA) and fuzzy simulation of interval-valued intuitionistic fuzzy sets (IVIFSs). The concept of DEA is developed, and a new approach based on introducing a new simulation method for IVIFSs is presented. Moreover, the approach is the last aggregation that avoids information loss. To illustrate the process of this approach, a case study from the literature is adopted and solved. A sensitivity analysis is carried out, and the results are displayed. • Proposing a new division model to address on energy project evaluation. • Introducing a new IVIF-DEA to improve the ability of DEA in computational process. • Increasing the flexibility of IVIF-DEA by a new conversion function. • Presenting a new simulation approach to create IFSs based on the input IVIFSs. • Providing a last aggregation process to avoid information loss in the evaluation. [ABSTRACT FROM AUTHOR]

The emergence of community-owned renewable energy projects in Western Europe are rooted in favorable internal community dynamics and an enabling policy contexts. However, in countries like Romania, community-owned renewable energy projects (COREPs) are almost inexistent. By looking at solar power projects in northwestern Romania we discover that, out of 97 projects deployed in rural areas, only two are owned by the local communities. This paper seeks to find out what is the general context surrounding community-renewables interplay in Romania. Specifically it discusses the ways in which public policies hinder the development of COREPs and what alternatives could be implemented to change this situation. For this task, present research relies on a multi-method approach combining questionnaires with local authorities, document analysis and a series of in-depth interviews with representatives of local authorities owning the two COREPs. Based on the empirical data, this paper finds that there is a weak relationship between renewable energy projects and host communities. Even in the case when local authorities own the project, we cannot discuss about effective COREPs in Romania yet. Public policies in the field are quite restrictive, centralized and inflexible, while the selection mechanisms exclude small and peripheral communities from the opportunity of reaping the benefits of renewable energy projects. Discussing with representatives of local communities I also found that projects are poorly integrated in the local socio-economic landscape. The implementation and the management of the projects are outsourced to private companies from outside of these communities. On the bright side, I argue that the two COREPs still produced important benefits for local communities in terms of savings for the local budget, support for innovative thinking (to avoid the difficult bureaucratic processes) and increasing self-awareness of the local authorities regarding their energy options and negotiation capacities. [ABSTRACT FROM AUTHOR]

As the energy demands increasing globally, a lot of energy related challenges are evolving including global warming, energy sustainability and environmental pollution, which have forced countries to endorse renewable energy development policies proactively. As in result a lot of renewable energy projects are carried out around the world, which are facing numerous challenges and barriers, resulting in failure for many of recent projects. Although governments have launched several initiatives vis-à-vis renewable energy development in response, however such actions are limited to promote the renewable energy consumption, the implementation strategies for renewable energy projects and best practices are still overlooked. This study presents a systematical investigation on critical success factors (CSFs) affecting renewable energy projects. Through systematic process, a total of 41 significant success factors (SSFs) for renewable energy projects have been identified which are further extracted into 5 critical success factors (CSFs). In addition, CSFs have been prioritized through multiple linear regression analysis by SPSS 20, using the survey results of 272 firms working on renewable energy projects in Pakistan. Finally, a novel causal model is established to demonstrate the interaction mechanisms for ensuring success in renewable energy projects by the SSFs and CSFs. The results demonstrate that environmental factors are the predominant CSFs with highest correlation (0.592) which show the significant effect (33.8%) over project success. The findings not only help to understand the critical success factors for renewable energy projects in Pakistan, but also offer useful references for other countries that intend to promote renewable energy projects in the future. [ABSTRACT FROM AUTHOR]

Successful renewable energy projects are crucial to bring the cleaner and sustainable environment of this universe. Owed to this, world's countries and policymakers are trying hard to double the current share of renewable energy consumptions (18.3%) by 2030, which has been resulting in the construction of multiple renewable energy projects. This study identifies multiple critical success factors (CSFs) and their influences mechanisms, required for renewable-energy projects. Using a sample of 272 firms working on renewable energy projects in Pakistan, a quantitative and causal study was undertaken to identify the efficiency (short-run success) and effectiveness (long-run success) mechanisms of critical success factors in renewable energy projects. Structural equation modeling (SEM) was applied to test and verify hypothesis. The results show that though the efficiency and effectiveness of critical success factors in renewable energy projects are equally important, the effectiveness (long-run success) in renewable energy projects is mainly depends upon the efficiency (short-run success) of the critical success factors (CSFs) involved in such kind of projects. The study expected to contribute towards and widen up the existing knowledge base for the renewable energy projects by adding on the findings regarding the influences mechanisms of critical success factors. [ABSTRACT FROM AUTHOR]

Owed to their enormous impact on the sustainable development of energy security, climate change, and the economy, multiple renewable-energy projects are carried out around the world, both in developed and in developing countries. Since the construction of renewable energy project is an entrepreneurial activity, there is a big concern about the success of such projects. Although pertinent literature suggests several methodologies to enhance the success of various projects, renewable-energy projects are still overlooked. This study identifies multiple critical success factors (CSFs), required for renewable-energy projects. Using a sample of 272 firms working on renewable energy projects in Pakistan, a quantitative and causal study was undertaken to identify the critical success factors (CSFs). Structural equation modeling (SEM) was applied to test and verify hypothesis. The results show that there is a strong direct dependency of project success over the proposed factors, however environmental factors are found to be the only predominant CSFs which show the significant indirect effect on project success. The study expected to contribute towards and widen up the existing knowledge base for the project performance of renewable energy projects by adding on the findings regarding critical success factors. [ABSTRACT FROM AUTHOR]

This study investigates the relationship between critical success factors (CSFs), organizational support, and renewable energy project success. The critical success factors with multiple dimensions (communication, team, technical, and environmental) were used in this paper. This study adopts the questionnaire survey approach, and collects data from the construction based renewable energy projects located in Punjab Province, Pakistan, which comprised 342 valid samples. Partial least-squares structural equation modelling (PLS-SEM) was used to analyze the theoretical framework. The results confirmed that three critical success factors i.e. team factors (TF), technical factors (Tech. F), and environmental factors (EF), have a positive and significant direct relationship with project success. However, communication factors (CF) have a direct but insignificant relationship with project success. Moreover, results also confirmed the positive mediating role of organizational support between critical success factors and project success. The empirical outcomes of this study show that these four critical success factors increase the success of renewable energy projects. The outcomes also show that organizational support as a mediating variable plays a dynamic role in enhancing the tangible success of renewable energy projects. This study contributes through empirical findings in the existing knowledge base for renewable energy projects. • The study applied partial least-squares structural equation modelling. • We analyzed how critical success factors influence the renewable energy projects. • The study identified four critical success factors for renewable energy projects. • Organizational support mediates in enhancing renewable energy projects. • Critical success factors significantly improve the project success. [ABSTRACT FROM AUTHOR]

The purpose of this study was to assess additionality and the practice of estimating the cost of equity capital in 70 renewable energy projects in Brazil. Forty projects demonstrated additionality by means of financial analysis. No strong or clear relationships were found between project characteristics and the financial method used to demonstrate additionality. Among projects that used financial analysis, the evaluation often employed the risk-free rate. Failure to add any risk premium to projects of this nature suggests a certain analytical carelessness, perhaps induced by the innovative or experimental nature of these projects. [ABSTRACT FROM PUBLISHER]

Abstract: Due to the vast growth of development in the infrastructure and investment in energy, the electricity consumption in the GCC countries had increased at a fast rate; 12.4% from 2005 to 2009 (3.15%, annually). This rate is much larger than the world average, which is 2.2% for the same period, or USA (0.5%). In 2005, the average Watt per person in the GCC countries was 1149 which is much higher than the world average (297W per person) or the European Union (700W/person) – but less than USA (1460W/person). The GCC countries need to increase its electrical capacity by 60,000MW, which represents 80% of the current installed capacity, to meet demand in 2015. This means that there is a need to build 50 more gas fired power generator plant turbine (each rated 1400MW). The GCC countries have realized that depending on gas will not be the solution due to shortage of resource or environmental impact, particularly the GHG emissions. Therefore, they thought back of using renewable energy resources – after lifting it over in 1990s. They also thought of diversity in electricity production where nuclear energy comes to the picture. The power capacity in GCC countries is at around 75,000MW, a projected 9.5% growth in annual demand will require more electricity and energy projects; expected to invest USD 200 billion to 250 billion in between 14 and 20 energy projects by 2020. The paper lists the major renewable energy projects (mainly solar and wind) in each of the six GCC countries. The total capacity of these projects exceeds 600MW. Among these projects is the establishment of the first zero emission house (Green house) in the middle east (7kW solar, wind and fuel cell) constructed in Bapco residence town (Awali) in Bahrain and therefore, been highlighted more in this paper. Moreover, nearly all GCC countries are planning to construct PV plants with large capacity. Also, several projects in Building Integrated Photovoltaic and Building Integrated Wind Turbines are established in GCC countries. The projects made in the GCC countries allow researchers and investors to size the cost of kWh from thermal, PV and wind energy more precisely. For example, it was found that the cost of kWh from large grid connected solar thermal plant (20MW) – with cost of USD 72.5 million and energy – is US ¢ 12/kWh (assuming a life time of 40 years and a discount rate of 4%) while, the cost issue of kWh from PV Electricity (in the GCC countries) is ranging from US ¢ 27 (for ground mount) to US ¢ 35 (for roof mount) as it was deduced from two actually installed project PV in UAE – a GCC country member. Meanwhile, the cost of 1kWh from wind electricity in the GCC countries may be from US ¢10 (large turbine ≈2MW at 80m height with good wind speed) to US ¢ 15 (for large turbine ≈2MW at 80m height with modest wind speed) while the cost of kWh from grid connected Wind farm plant (20MW) – with a cost of USD 38.6 million and energy – is US ¢ 6.7/kWh to US ¢ 8.8/kWh, depending on the location of wind farm. This makes it very challengeable for investor, government (Feed-in-Tariff) and citizens because each citizen in GCC countries pays only (US cent 1 for each kWh, for consumption less than 3000kWh, or even nothing for citizens-like in Qatar). [Copyright &y& Elsevier]

With increasing worldwide energy demand, many energy-related issues are growing, including global warming, energy sustainability, and environmental pollution. These challenges force nations to actively endorse renewable energy development policies. As a result, numerous renewable energy projects are executed around the globe, which are confronting various hurdles, causing failure for many of the current projects. This study, therefore, aims to suggest that community participation in planning and decision-making is an imperative mediator through which government support (GS) and organizational innovativeness (OI) can positively affect renewable project success. Data was collected through a survey from 650 respondents of the renewable energy projects in Pakistan, and hypotheses were proved by employing structural equation modeling (SEM). The findings show that GS and OI have a significant positive impact on the CP and project success. Moreover, CP was realized to partially mediates these relationships. It is expected that the findings present guidelines for the government authorities so that they endeavor and make better policies for involving the community as a mediator in project planning and decision making for renewable energy projects. • Explicates the efficiency, timeliness, quality of project performance. • Affirms local community views in the planning and decision-making process. • Integrates government support and organizational innovativeness in renewable projects. • Presents guidelines for the government authorities about renewable energy projects. [ABSTRACT FROM AUTHOR]

Renewable energy projects (REPs) are constructed to contribute to the eradication of global warming and supporting a sustainable aspect of economies. However, due to their entrepreneurial nature, such REPs are quite prone to severe project variations. Mostly, REPs deviate from their allocated plans, which lead them to the time and cost overrun outcomes alongside numerous other hindering impacts. The current research was intended to understand the critical impacts of project variations during the building activities of REPs. Utilizing a sample of 253 field experts engaged with such REPs at Pakistan, we employed structural equation modeling (SEM) to analyze and confirm our propositions. It was found that cost-related effects were the most significant outcomes in the REPs and their severity was higher than other variation consequences of time-overrun effects, productivity-related effects, risk-related effects, and reputation related effects. Nevertheless, an unexpected outcome was observed regarding the variations, which do not show their negative effects on reputation related aspects in the REPs of Pakistan. Considering its critical findings, this research is a useful tool for project executives that they can formulate certain techniques to tackle such variations and their consequences in REPs. This research likewise aimed to add and extend pertinent literature for REPs by following the outcomes of the current research concerning the impacts of project variations. Unlabelled Image • It identifies variation effects for renewable energy projects from pertinent literature. • It categories the project variation effects into five critical clusters. • It affirms a framework that envelops project variation order to effect renewable energy projects. • It suggests policy formulations to avoid variation orders in renewable energy projects. [ABSTRACT FROM AUTHOR]