IDEAS home Printed from https://ideas.repec.org/a/pcz/journl/v13y2016i1p90-100.html
   My bibliography  Save this article

Environmental And Economic Aspects In Decision Making Of The Investment Project “Wind Park”

Author

Listed:
  • Jaroslava Janekova

    (Technical University of Kosice)

  • Jana Fabianova

    (Technical University of Kosice)

  • Andrea Rosova

    (Technical University of Kosice)

Abstract

The current competitive environment puts on companies still increasing demands and their success is more uncertain. They are forced to implement many changes and challenges in limited terms with limited resources. An effective solution to this situation is the project management. Its principles are applied in this paper at deciding on acceptance or rejection of the investment project wind park. The decision making is carried out from an environmental and economic point of view. Within the environmental assessment it is a comprehensive assessment of impacts of the wind park construction on the population, geological environment, soil, flora, fauna and their habitats, on the country and its infrastructure, etc. Assessment of the investment from an economic and financial point of view is realized by dynamic methods. Their selection is chosen so that the investment was assessed in three ways, its profitability, liquidity and risk. The emphasis is taken on risk, which is analysed using Monte Carlo simulations.

Suggested Citation

  • Jaroslava Janekova & Jana Fabianova & Andrea Rosova, 2016. "Environmental And Economic Aspects In Decision Making Of The Investment Project “Wind Park”," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 13(1), pages 90-100, June.
  • Handle: RePEc:pcz:journl:v:13:y:2016:i:1:p:90-100
    as

    Download full text from publisher

    File URL: http://pjms.zim.pcz.pl/PDF/PJMS131/Environmental%20and%20Economic%20Aspects%20in%20Decision%20Making%20of%20the%20Investment%20Project%20%E2%80%9CWind%20Park%E2%80%9D.pdf
    Download Restriction: no

    File URL: http://pjms.zim.pcz.pl/-articles-13.1.php
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Tomi Makipelto, 2010. "The competitive priorities of the wind power investment," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 9(3), pages 292-310.
    2. Gass, V. & Strauss, F. & Schmidt, J. & Schmid, E., 2011. "Assessing the effect of wind power uncertainty on profitability," Renewable and Sustainable Energy Reviews, Elsevier, vol. 15(6), pages 2677-2683, August.
    3. Gillenwater, Michael, 2013. "Probabilistic decision model of wind power investment and influence of green power market," Energy Policy, Elsevier, vol. 63(C), pages 1111-1125.
    4. Ronald J. Sutherland, 1991. "Market Barriers to Energy-Efficiency Investments," The Energy Journal, International Association for Energy Economics, vol. 0(Number 3), pages 15-34.
    5. Montes, Germán Martínez & Martín, Enrique Prados, 2007. "Profitability of wind energy: Short-term risk factors and possible improvements," Renewable and Sustainable Energy Reviews, Elsevier, vol. 11(9), pages 2191-2200, December.
    6. Barradale, Merrill Jones, 2010. "Impact of public policy uncertainty on renewable energy investment: Wind power and the production tax credit," Energy Policy, Elsevier, vol. 38(12), pages 7698-7709, December.
    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. Yuriy Bilan & Marcin Rabe & Katarzyna Widera, 2022. "Distributed Energy Resources: Operational Benefits," Energies, MDPI, vol. 15(23), pages 1-7, November.
    2. Alica Tobisova & Andrea Senova & Gabriela Izarikova & Ivana Krutakova, 2022. "Proposal of a Methodology for Assessing Financial Risks and Investment Development for Sustainability of Enterprises in Slovakia," Sustainability, MDPI, vol. 14(9), pages 1-14, April.
    3. Andrea Senova & Alica Tobisova & Robert Rozenberg, 2023. "New Approaches to Project Risk Assessment Utilizing the Monte Carlo Method," Sustainability, MDPI, vol. 15(2), pages 1-19, January.
    4. Cezary Banaszak & Andrzej Gawlik & Paweł Szcześniak & Marcin Rabe & Katarzyna Widera & Yuriy Bilan & Agnieszka Łopatka & Ewelina Gutowska, 2023. "Economic and Energy Analysis of the Construction of a Wind Farm with Infrastructure in the Baltic Sea," Energies, MDPI, vol. 16(16), pages 1-20, August.
    5. Robert Ulewicz & Dominika Siwiec & Andrzej Pacana & Magdalena Tutak & Jarosław Brodny, 2021. "Multi-Criteria Method for the Selection of Renewable Energy Sources in the Polish Industrial Sector," Energies, MDPI, vol. 14(9), pages 1-30, April.

    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. Enevoldsen, Peter, 2016. "Onshore wind energy in Northern European forests: Reviewing the risks," Renewable and Sustainable Energy Reviews, Elsevier, vol. 60(C), pages 1251-1262.
    2. Sarah Hafner & Olivia James & Aled Jones, 2019. "A Scoping Review of Barriers to Investment in Climate Change Solutions," Sustainability, MDPI, vol. 11(11), pages 1-19, June.
    3. Caralis, George & Diakoulaki, Danae & Yang, Peijin & Gao, Zhiqiu & Zervos, Arthouros & Rados, Kostas, 2014. "Profitability of wind energy investments in China using a Monte Carlo approach for the treatment of uncertainties," Renewable and Sustainable Energy Reviews, Elsevier, vol. 40(C), pages 224-236.
    4. Farrell, Niall & Donoghue, Cathal O’ & Morrissey, Karyn, 2015. "Quantifying the uncertainty of wave energy conversion device cost for policy appraisal: An Irish case study," Energy Policy, Elsevier, vol. 78(C), pages 62-77.
    5. Petrovich, Beatrice & Carattini, Stefano & Wüstenhagen, Rolf, 2021. "The price of risk in residential solar investments," Ecological Economics, Elsevier, vol. 180(C).
    6. Kumar, Indraneel & Tyner, Wallace E. & Labi, Samuel & Sinha, Kumares C., 2021. "“The Answer My Friend is Blowin’ in the Wind”: A stochastic assessment of wind farms financial feasibility and economic efficiency," Energy Policy, Elsevier, vol. 159(C).
    7. Todd D. Gerarden & Richard G. Newell & Robert N. Stavins, 2017. "Assessing the Energy-Efficiency Gap," Journal of Economic Literature, American Economic Association, vol. 55(4), pages 1486-1525, December.
    8. LOFGREN Asa & MILLOCK Katrin & NAUGES Céline, 2007. "Using Ex Post Data to Estimate the Hurdle Rate of Abatement Investments - An application to the Swedish Pulp and Paper Industry and Energy Sector," LERNA Working Papers 07.06.227, LERNA, University of Toulouse.
    9. Khanh Hoang, 2022. "How does corporate R&D investment respond to climate policy uncertainty? Evidence from heavy emitter firms in the United States," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 29(4), pages 936-949, July.
    10. Jin, Xin & Zhang, Zhaolong & Shi, Xiaoqiang & Ju, Wenbin, 2014. "A review on wind power industry and corresponding insurance market in China: Current status and challenges," Renewable and Sustainable Energy Reviews, Elsevier, vol. 38(C), pages 1069-1082.
    11. Degirmenci, Tunahan & Yavuz, Hakan, 2024. "Environmental taxes, R&D expenditures and renewable energy consumption in EU countries: Are fiscal instruments effective in the expansion of clean energy?," Energy, Elsevier, vol. 299(C).
    12. Sun, Chuanwang & Zhan, Yanhong & Du, Gang, 2020. "Can value-added tax incentives of new energy industry increase firm's profitability? Evidence from financial data of China's listed companies," Energy Economics, Elsevier, vol. 86(C).
    13. Oikonomou, Vlasis & Rietbergen, Martijn & Patel, Martin, 2007. "An ex-ante evaluation of a White Certificates scheme in The Netherlands: A case study for the household sector," Energy Policy, Elsevier, vol. 35(2), pages 1147-1163, February.
    14. Chan, Edwin H.W. & Qian, Queena K. & Lam, Patrick T.I., 2009. "The market for green building in developed Asian cities--the perspectives of building designers," Energy Policy, Elsevier, vol. 37(8), pages 3061-3070, August.
    15. Schumacher, Kim & Yang, Zhuoxiang, 2018. "The determinants of wind energy growth in the United States: Drivers and barriers to state-level development," Renewable and Sustainable Energy Reviews, Elsevier, vol. 97(C), pages 1-13.
    16. Schleich, Joachim & Gassmann, Xavier & Faure, Corinne & Meissner, Thomas, 2016. "Making the implicit explicit: A look inside the implicit discount rate," Energy Policy, Elsevier, vol. 97(C), pages 321-331.
    17. Häckel, Björn & Pfosser, Stefan & Tränkler, Timm, 2017. "Explaining the energy efficiency gap - Expected Utility Theory versus Cumulative Prospect Theory," Energy Policy, Elsevier, vol. 111(C), pages 414-426.
    18. Jaccard, Mark, 1995. "Oscillating currents : The changing rationale for government intervention in the electricity industry," Energy Policy, Elsevier, vol. 23(7), pages 579-592, July.
    19. Barradale, Merrill Jones, 2014. "Investment under uncertain climate policy: A practitioners׳ perspective on carbon risk," Energy Policy, Elsevier, vol. 69(C), pages 520-535.
    20. Katrin Millock & Céline Nauges, 2010. "Household Adoption of Water-Efficient Equipment: The Role of Socio-Economic Factors, Environmental Attitudes and Policy," Environmental & Resource Economics, Springer;European Association of Environmental and Resource Economists, vol. 46(4), pages 539-565, August.

    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:pcz:journl:v:13:y:2016:i:1:p:90-100. 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: Paula Bajdor (email available below). General contact details of provider: https://edirc.repec.org/data/wzpczpl.html .

    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.