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Finance, Competition and Power Markets

In: Wind Energy in the 21st Century

Author

Listed:
  • Robert Y. Redlinger

    (CMS Viron Energy Services)

  • Per Dannemand Andersen

    (Risø National Laboratory)

  • Poul Erik Morthorst

    (Risø National Laboratory)

Abstract

The previous chapter described the changing economics of wind energy and the rapid improvement in wind energy’s economic viability during the last decade. In spite of this, however, wind energy projects often continue to face obstacles obtaining finance for actual construction. This chapter therefore examines issues of finance by first outlining the differences between economic and financial viability and then describing some of the most important considerations when financing wind projects, such as cost of capital, capital structure, risk, debt-service coverage ratio, and others. The chapter then goes on to describe special considerations for financing projects in developing countries. Lastly, the chapter examines the increasingly competitive nature of power markets and how the advent of competition may affect the outlook for wind power development.

Suggested Citation

  • Robert Y. Redlinger & Per Dannemand Andersen & Poul Erik Morthorst, 2002. "Finance, Competition and Power Markets," Palgrave Macmillan Books, in: Wind Energy in the 21st Century, chapter 5, pages 97-148, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-0-230-52427-9_5
    DOI: 10.1057/9780230524279_5
    as

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