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Public–private partnerships (PPPs), although widely used to build infrastructure and deliver public services around the world, have confronted transaction hazards of uncertainty, asset specificity, information asymmetry, and contract incompleteness. Drawing from contracting theories, this article takes a holistic approach to identifying eight governance mechanisms to address transaction hazards: cognition and flexibility for uncertainty, safeguards and credibility for asset specificity, transparency and competition for information asymmetry, and reputation and trust for contract incompleteness. We then conduct a comparative study of two PPP power projects, one successful in China and the other failed in India, to illustrate how governance mechanisms function to address those transaction hazards. Among eight governance mechanisms, flexibility, credibility, and competition are especially critical to determine the success or failure of PPP projects. [ABSTRACT FROM AUTHOR]

Abstract Developing renewable energy power generation projects (REPGPs) is significant to promote energy and environment sustainability. This study explores the inter-relationship amongst representative factors (RFs) affecting the development of REPGPs in China. Through literature survey, 43 factors affecting the development of REPGPs are identified. A questionnaire survey, targeting practitioners involved in the renewable energy (RE) industry is conducted for the relative importance of these factors. The survey data were processed by principal component analysis, and as a result, 16 RFs are obtained. Interpretive Structural Modeling (ISM) is adopted to establish a hierarchy structure to illustrate the intricate interrelationships among the RFs. They are classified into four clusters, i.e. autonomous factors, dependent factors, linkage factors, and driving factors by applying the Matrice d'Impacts croises-multipication appliqué a classement (MICMAC) technique to demonstrate their driving force and dependence power for REPGPs. Distribution of the RFs in the ISM and the driving force and dependence power diagram found that economy and urbanization development, incentive policy system, and government policy implementation are three most important factors. The results help both project developers and policy makers to understand the impact of forces on the development of REPGPs, resulting in better investment decisions and more targeted policies. Highlights • Identify representative factors (RFs) influence the development of REPGPs in China. • Establish ISM hierarchy structure to show the inter-relationships among the RFs. • Driving force and dependence power of RFs are illustrated by MICMAC technique. • Suggestions are proposed for the sustainable development of REPGPs. [ABSTRACT FROM AUTHOR]

Capital is the limited resource in a developing economy like India and must be invested with utmost care. It is a true fact that development of the financial sectors of our country must analyze the overall social cost benefit implication of their investment decisions. This Social cost benefit analysis accounts as a tool used to evaluate a project with respect to the overall society. It indicates the total costs as well as the benefits which the society may endure by the establishment of the proposed project. It governs the feasibility of a power project with respect to sum of economic cost and overall economic benefits. This review paper focuses on the application of Social Cost Benefit Analysis using UNIDO approach on thermal coal based power plant and a hydro power plant and motivates to emphasize on the overall social costs and benefits linked with eachpower project. It highlights the comparison in between the coal and hydro power projects. The paper suggests several steps that can be taken to make the projects more lucrative. [ABSTRACT FROM AUTHOR]

Purpose – The purpose of this paper is to analyze the changing trend of China's power project investment value. Design/methodology/approach – The authors research the profitability of different power projects in recent years and summarize the reason why investment value varies between different power projects. To achieve this, the empirical study developed a fixed effect model in panel data analysis to investigate the impacts that different power projects made to company value. The data were collected from annual financial reports of 30 Chinese power listed companies from 2007 to 2011. Findings – This paper indicates three changes in investment value of China's electricity industry: the electricity industry in China is of investment prospects; the investment value of fuel power projects in China is less and less; and projects around electric power load center are more preferable than those built in other areas. It suggests that it is the resource factors, environment factors, investment policies and conditions, not the power unit itself, that determine the investment value of different power projects in China. Originality/value – This paper analyzes the formation reason of current power investment situation combining China's actual conditions. This study fulfils an identified need to research the changing trend of China's power project investment value and generalize the influencing factors of investment value. [ABSTRACT FROM AUTHOR]