IDEAS home Printed from https://ideas.repec.org/a/eee/rensus/v22y2013icp446-453.html
   My bibliography  Save this article

Factors influencing the success of BOT power plant projects in China: A review

Author

Listed:
  • Zhao, Zhen-Yu
  • Zuo, Jian
  • Zillante, George

Abstract

The rapid economic growth in China has created massive demand for power generation facilities. Build–operate–transfer (BOT) concessions have been granted to attract foreign and private investment. Interest in the BOT scheme for power plant projects has been growing rapidly. BOT projects normally involve a number of parties and usually face a number of constraints. The identification of key factors for Chinese BOT projects helps to accomodate these constraints so that the expected project outcomes can be achieved. A multi-facet qualitative approach is adopted in this research to investigate the factors influencing the success of BOT electric power projects in China. The results showed that there are 14 factors at both macro level and micro level, affecting the success of Chinese BOT projects. The results indicate that the success of China's BOT electric power projects require a combined efforts from all related stakeholders. These findings provide a valuable reference for both policy makers and investors for the future BOT power plant developments in China.

Suggested Citation

  • Zhao, Zhen-Yu & Zuo, Jian & Zillante, George, 2013. "Factors influencing the success of BOT power plant projects in China: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 22(C), pages 446-453.
    • Handle: RePEc:eee:rensus:v:22:y:2013:i:c:p:446-453
    DOI: 10.1016/j.rser.2013.02.025
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1364032113001275
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.rser.2013.02.025?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Yiannis Xenidis & Demos Angelides, 2005. "The financial risks in build-operate-transfer projects," Construction Management and Economics, Taylor & Francis Journals, vol. 23(4), pages 431-441.
    2. Chuan Chen & John Messner, 2005. "An investigation of Chinese BOT projects in water supply: a comparative perspective," Construction Management and Economics, Taylor & Francis Journals, vol. 23(9), pages 913-925.
    3. S. Q. Wang & Robert Tiong & S. K. Ting & D. Ashley, 2000. "Evaluation and management of foreign exchange and revenue risks in China's BOT projects," Construction Management and Economics, Taylor & Francis Journals, vol. 18(2), pages 197-207.
    4. Jingfeng Yuan & Alex Yajun Zeng & Miroslaw Skibniewski & Qiming Li, 2009. "Selection of performance objectives and key performance indicators in public-private partnership projects to achieve value for money," Construction Management and Economics, Taylor & Francis Journals, vol. 27(3), pages 253-270.
    5. Luiz Eduardo Brandao & Eduardo Saraiva, 2008. "The option value of government guarantees in infrastructure projects," Construction Management and Economics, Taylor & Francis Journals, vol. 26(11), pages 1171-1180.
    6. Zhao, Zhen-Yu & Zuo, Jian & Zillante, George & Wang, Xin-Wei, 2010. "Critical success factors for BOT electric power projects in China: Thermal power versus wind power," Renewable Energy, Elsevier, vol. 35(6), pages 1283-1291.
    7. Arent, Douglas J. & Wise, Alison & Gelman, Rachel, 2011. "The status and prospects of renewable energy for combating global warming," Energy Economics, Elsevier, vol. 33(4), pages 584-593, July.
    8. Brunnschweiler, Christa N., 2010. "Finance for renewable energy: an empirical analysis of developing and transition economies," Environment and Development Economics, Cambridge University Press, vol. 15(3), pages 241-274, June.
    9. A. V. Thomas & Satyanarayana Kalidindi & L. S. Ganesh, 2006. "Modelling and assessment of critical risks in BOT road projects," Construction Management and Economics, Taylor & Francis Journals, vol. 24(4), pages 407-424.
    10. Zhao, Zhen-Yu & Zuo, Jian & Fan, Lei-Lei & Zillante, George, 2011. "Impacts of renewable energy regulations on the structure of power generation in China – A critical analysis," Renewable Energy, Elsevier, vol. 36(1), pages 24-30.
    11. A. V. Thomas & Satyanarayana Kalidindi & K. Ananthanarayanan, 2003. "Risk perception analysis of BOT road project participants in India," Construction Management and Economics, Taylor & Francis Journals, vol. 21(4), pages 393-407.
    12. Wang, Qiang & Chen, Yong, 2010. "Energy saving and emission reduction revolutionizing China's environmental protection," Renewable and Sustainable Energy Reviews, Elsevier, vol. 14(1), pages 535-539, January.
    13. Yuan, Xue-liang & Zuo, Jian, 2011. "Pricing and affordability of renewable energy in China – A case study of Shandong Province," Renewable Energy, Elsevier, vol. 36(3), pages 1111-1117.
    14. Yuan, Xueliang & Zuo, Jian & Ma, Chunyuan, 2011. "Social acceptance of solar energy technologies in China--End users' perspective," Energy Policy, Elsevier, vol. 39(3), pages 1031-1036, March.
    15. Athena Roumboutsos & Konstantinos Anagnostopoulos, 2008. "Public-private partnership projects in Greece: risk ranking and preferred risk allocation," Construction Management and Economics, Taylor & Francis Journals, vol. 26(7), pages 751-763.
    16. Yuan, Xueliang & Zuo, Jian, 2011. "Transition to low carbon energy policies in China--from the Five-Year Plan perspective," Energy Policy, Elsevier, vol. 39(6), pages 3855-3859, June.
    17. Wiser, Ryan H. & Pickle, Steven J., 1998. "Financing investments in renewable energy : the impacts of policy design," Renewable and Sustainable Energy Reviews, Elsevier, vol. 2(4), pages 361-386, December.
    18. Malik Ranasinghe, 1999. "Private sector participation in infrastructure projects: a methodology to analyse viability of BOT," Construction Management and Economics, Taylor & Francis Journals, vol. 17(5), pages 613-623.
    19. Lise, Wietze, 2009. "Towards a higher share of distributed generation in Turkey," Energy Policy, Elsevier, vol. 37(11), pages 4320-4328, November.
    20. Sudong Ye & Robert Tiong, 2003. "The effect of concession period design on completion risk management of BOT projects," Construction Management and Economics, Taylor & Francis Journals, vol. 21(5), pages 471-482.
    21. Irem Dikmen Ozdoganm & M. Talat Birgonul, 2000. "A decision support framework for project sponsors in the planning stage of build-operate-transfer (BOT) projects," Construction Management and Economics, Taylor & Francis Journals, vol. 18(3), pages 343-353.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wu, Yunna & Song, Zixin & Li, Lingwenying & Xu, Ruhang, 2018. "Risk management of public-private partnership charging infrastructure projects in China based on a three-dimension framework," Energy, Elsevier, vol. 165(PA), pages 1089-1101.
    2. Muhammad Haris & Qing Yang, 2023. "Investigating the Moderating Role of Political Factors on Internal Success Factors and Project Success: Empirical Evidence from Pakistan," Sustainability, MDPI, vol. 15(11), pages 1-20, May.
    3. Zhao, Zhen-Yu & Chen, Yu-Long & Li, Heng, 2019. "What affects the development of renewable energy power generation projects in China: ISM analysis," Renewable Energy, Elsevier, vol. 131(C), pages 506-517.
    4. Shiying Shi & Heap-Yih Chong & Lihong Liu & Xiaosu Ye, 2016. "Examining the Interrelationship among Critical Success Factors of Public Private Partnership Infrastructure Projects," Sustainability, MDPI, vol. 8(12), pages 1-20, December.
    5. Yu Zeng & Weidong Chen, 2019. "The Determination of Concession Period for Build-Operate-Transfer Solar Photovoltaic Power Project under Policy Incentives: A Case Study of China," Energies, MDPI, vol. 12(18), pages 1-23, September.
    6. Lih-Ren Liu & Yuh-Ming Lee, 2016. "Remedial Measures for Erroneous Environmental Policies: Assessing Infrastructure Projects of Waste-to-Energy Incineration in Taiwan with a Case Study of the Taitung Incinerator," Sustainability, MDPI, vol. 8(12), pages 1-13, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Abraham Park & Chen Yu Chang, 2013. "Impacts of Construction Events on the Project Equity Value of the Channel Tunnel Project," ERES eres2013_97, European Real Estate Society (ERES).
    2. Shi, Qian & Yu, Tao & Zuo, Jian, 2015. "What leads to low-carbon buildings? A China study," Renewable and Sustainable Energy Reviews, Elsevier, vol. 50(C), pages 726-734.
    3. Babatunde, Solomon Olusola & Perera, Srinath, 2017. "Analysis of traffic revenue risk factors in BOT road projects in developing countries," Transport Policy, Elsevier, vol. 56(C), pages 41-49.
    4. Zhou, Zhihua & Wang, Xiaojuan & Zhang, Xiaoyan & Chen, Guanyi & Zuo, Jian & Pullen, Stephen, 2015. "Effectiveness of pavement-solar energy system – An experimental study," Applied Energy, Elsevier, vol. 138(C), pages 1-10.
    5. Zhao, Zhen-Yu & Zuo, Jian & Zillante, George & Wang, Xin-Wei, 2010. "Critical success factors for BOT electric power projects in China: Thermal power versus wind power," Renewable Energy, Elsevier, vol. 35(6), pages 1283-1291.
    6. Henry J Liu & Peter ED Love & Jim Smith & Michael CP Sing & Jane Matthews, 2018. "Evaluation of public–private partnerships: A life-cycle Performance Prism for ensuring value for money," Environment and Planning C, , vol. 36(6), pages 1133-1153, September.
    7. Sy, Do Tien & Likhitruangsilp, Veerasak & Onishi, Masamitsu & Nguyen, Phong Thanh, 2016. "Different Perceptions of Concern Factors for Strategic Investment of The Private Sector in Public-Private Partnership Transportation Projects," MPRA Paper 96581, University Library of Munich, Germany.
    8. Ming, Zeng & Song, Xue & Mingjuan, Ma & Xiaoli, Zhu, 2013. "New energy bases and sustainable development in China: A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 20(C), pages 169-185.
    9. Fang, Yiping & Wei, Yanqiang, 2013. "Climate change adaptation on the Qinghai–Tibetan Plateau: The importance of solar energy utilization for rural household," Renewable and Sustainable Energy Reviews, Elsevier, vol. 18(C), pages 508-518.
    10. Yuan, Xueliang & Mi, Mi & Mu, Ruimin & Zuo, Jian, 2013. "Strategic route map of sulphur dioxide reduction in China," Energy Policy, Elsevier, vol. 60(C), pages 844-851.
    11. Shi, Qian & Lai, Xiaodong & Xie, Xin & Zuo, Jian, 2014. "Assessment of green building policies – A fuzzy impact matrix approach," Renewable and Sustainable Energy Reviews, Elsevier, vol. 36(C), pages 203-211.
    12. Feng, Zhuo & Zhang, Shui-Bo & Gao, Ying, 2015. "Modeling the impact of government guarantees on toll charge, road quality and capacity for Build-Operate-Transfer (BOT) road projects," Transportation Research Part A: Policy and Practice, Elsevier, vol. 78(C), pages 54-67.
    13. Jokar, Ebrahim & Aminnejad, Babak & Lork, Alireza, 2021. "Assessing and Prioritizing Risks in Public-Private Partnership (PPP) Projects Using the Integration of Fuzzy Multi-Criteria Decision-Making Methods," Operations Research Perspectives, Elsevier, vol. 8(C).
    14. Hongyan Chen & Ruwen Qin, 2012. "Real options as an incentive scheme for managing revenues in transportation infrastructure projects," International Journal of Revenue Management, Inderscience Enterprises Ltd, vol. 6(1/2), pages 77-101.
    15. Zhao, Zhen-Yu & Chen, Yu-Long & Li, Heng, 2019. "What affects the development of renewable energy power generation projects in China: ISM analysis," Renewable Energy, Elsevier, vol. 131(C), pages 506-517.
    16. Ming, Zeng & Ximei, Liu & Na, Li & Song, Xue, 2013. "Overall review of renewable energy tariff policy in China: Evolution, implementation, problems and countermeasures," Renewable and Sustainable Energy Reviews, Elsevier, vol. 25(C), pages 260-271.
    17. Zhao, Zhen-yu & Yan, Hong & Zuo, Jian & Tian, Yu-xi & Zillante, George, 2013. "A critical review of factors affecting the wind power generation industry in China," Renewable and Sustainable Energy Reviews, Elsevier, vol. 19(C), pages 499-508.
    18. Yuan, Xueliang & Wang, Xujiang & Zuo, Jian, 2013. "Renewable energy in buildings in China—A review," Renewable and Sustainable Energy Reviews, Elsevier, vol. 24(C), pages 1-8.
    19. Ng, Thiam Hee & Tao, Jacqueline Yujia, 2016. "Bond financing for renewable energy in Asia," Energy Policy, Elsevier, vol. 95(C), pages 509-517.
    20. Zhao, Zhen-yu & Zhang, Shuang-ying & Zuo, Jian, 2011. "A critical analysis of the photovoltaic power industry in China – From diamond model to gear model," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(9), pages 4963-4971.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:rensus:v:22:y:2013:i:c:p:446-453. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/600126/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.