scholarly journals Financing conditions of renewable energy projects – results from an EU wide survey

2021 ◽  
Vol 1 ◽  
pp. 136
Author(s):  
Robert Brückmann ◽  
Agustin Roth ◽  
Moïra Jimeno ◽  
Jörn Banasiak ◽  
Mak Đukan ◽  
...  
Keyword(s):  
Renewable Energy ◽  
Weighted Average ◽  
Policy Support ◽  
Cost Of Debt ◽  
The European Union ◽  
Structured Interviews ◽  
Investment Funds ◽  
Coverage Ratio ◽  
Energy Projects ◽  
Main Input

This data note aims to present a dataset with values for financing conditions for renewable energy projects in Europe. This includes weighted average cost of capital, cost of debt, cost of equity, debt share, debt service coverage ratio and loan tenors. The dataset was elaborated in the framework of the "Auctions for Renewable Energy Support II" project (AURES II). The main goal of the AURES II project is to provide policy support to the Member States of the European Union in order to improve the effectiveness and cost-efficiency of auctions for renewable energy support. As part of the AURES II project, an extensive survey (structured interviews) was conducted between September 2019 and April 2020 with different stakeholders involved in the renewable energy industry, such as banks, project developing companies, and investment funds, among others. The technologies covered were solar photovoltaics (PV), wind onshore, and wind offshore. Interviewees were asked to provide values for financing conditions for specific projects (for certain cases, country estimates or ranges of values were provided). Spain, Portugal, Greece, Germany, and Denmark were selected as focus countries, for which the interviews also included qualitative questions to discuss the observed quantitative data in these countries. The presented data has been used as the main input to elaborate an AURES II report on renewable energy financing conditions in Europe.

Renewable Energy on Tribal Lands: A Feasibility Study for a Biomass-to-Energy Plant on the Cocopah Reservation in Arizona

2019 ◽  
Vol 3 (1) ◽  
pp. 1-12
Author(s):  
Lauren K. D’Souza ◽  
William L. Ascher ◽  
Tanja Srebotnjak
Keyword(s):  
Renewable Energy ◽  
Alternative Energy ◽  
Renewable Energy Sources ◽  
The United States ◽  
Biomass Energy ◽  
Policy Support ◽  
Small Scale ◽  
Energy Plant ◽  
Energy Projects ◽  
Alternative Investment

Native American reservations are among the most economically disadvantaged regions in the United States; lacking access to economic and educational opportunities that are exacerbated by “energy insecurity” due to insufficient connectivity to the electric grid and power outages. Local renewable energy sources such as wind, solar, and biomass offer energy alternatives but their implementation encounters barriers such as lack of financing, infrastructure, and expertise, as well as divergent attitudes among tribal leaders. Biomass, in particular, could be a source of stable base-load power that is abundant and scalable in many rural communities. This case study examines the feasibility of a biomass energy plant on the Cocopah reservation in southwestern Arizona. It considers feedstock availability, cost and energy content, technology options, nameplate capacity, discount and interest rates, construction, operation and maintenance (O&M) costs, and alternative investment options. This study finds that at current electricity prices and based on typical costs for fuel, O&M over 30 years, none of the tested scenarios is presently cost-effective on a net present value (NPV) basis when compared with an alternative investment yielding annual returns of 3% or higher. The technology most likely to be economically viable and suitable for remote, rural contexts—a combustion stoker—resulted in a levelized costs of energy (LCOE) ranging from US$0.056 to 0.147/kWh. The most favorable scenario is a combustion stoker with an estimated NPV of US$4,791,243. The NPV of the corresponding alternative investment is US$7,123,380. However, if the tribes were able to secure a zero-interest loan to finance the plant’s installation cost, the project would be on par with the alternative investment. Even if this were the case, the scenario still relies on some of the most optimistic assumptions for the biomass-to-power plant and excludes abatement costs for air emissions. The study thus concludes that at present small-scale, biomass-to-energy projects require a mix of favorable market and local conditions as well as appropriate policy support to make biomass energy projects a cost-competitive source of stable, alternative energy for remote rural tribal communities that can provide greater tribal sovereignty and economic opportunities.

scholarly journals Preliminary recognition of state of incorporating climate change impacts and adaptation considerations in SEA and EIA procedures for renewable energy projects

2020 ◽  
Vol 154 ◽  
pp. 07004
Author(s):  
Magdalena Tyszer ◽  
Slávka Gałaś
Keyword(s):  
Climate Change ◽  
Renewable Energy ◽  
Power Plants ◽  
Large Scale ◽  
Global Climate ◽  
Specific Reference ◽  
The European Union ◽  
Implementation Climate ◽  
Adaptation To Climate Change ◽  
Energy Projects

In the last years, the European Union has developed and set a several environmental policies whose imposes an obligation on Member States to implement specific actions, including incorporating climate change considerations into SEA and EIA processes. One of major environmental challenges facing most developing countries is that of global climate change. The aim of the research was to obtain a comprehensive review of existing SEA and EIA practical approaches for renewable energy installations in the aspect of adaptation to climate change with specific reference to Polish projects. Both SEA and EIA procedures implemented in Poland and other countries was introduced with the intent of factoring in potential risk to the environment by future large-scale project developments such as the construction of power plants, roads, or dams. The paper consist the initial recognition of available data of the current experience and level of implementation climate change impact and adaptions into local procedures. Preliminary results suggest that the additional funding should be given for climate change adaptation in the energy sector, especially in renewable energy projects, as well as specific interventions for climate-adapted energy systems should be targeted in order to fill the gap in RES sector and spur sustainable energy development.

Promotional Policies and Legislative Support for Grid-Connected Renewable Energy Projects

2020 ◽  
pp. 60-94
Author(s):  
Vasundhara Sen ◽  
Ashish Kulkarni
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Developed Countries ◽  
Policy Support ◽  
Energy Demands ◽  
Regulatory Frameworks ◽  
Floor Price ◽  
Support Tools ◽  
Energy Projects ◽  
The Comparative Study

Renewable Energy Sources-Based Electricity (RES-E) plays a key role in sustainable development – of meeting current energy demands, without adding to global warming concerns. However, as of 2017, only 8.5% of the total electricity generation came from RES-E. To boost this contribution, countries rely on strong legislative and policy support/tools. This case focuses on studying the legislative or regulatory frameworks put in place by the top three developed countries, and compares it with three developing countries, each of which are forerunners in RES-E, as of 2017. The comparative study suggests that while no single policy can be credited with the success behind rising RES-E in these countries, two key incentives are most important – namely feed-in-tariffs and renewable purchase obligations. Feed-in-tariffs act as floor price guarantee to the generator and renewable purchase obligations assures the generator of quantum of sale of the RES-E generated. When combined, these two incentives remain the most trusted policy tools even today for countries starting their journey in increasing their RES-E footprints.

scholarly journals Energy Justice as Part of the Acceptance of Wind Energy: An Analysis of Limburg in The Netherlands

Energies ◽  
2019 ◽  
Vol 12 (22) ◽  
pp. 4382 ◽  
Author(s):  
Nikki Kluskens ◽  
Véronique Vasseur ◽  
Rowan Benning
Keyword(s):  
Renewable Energy ◽  
The Netherlands ◽  
Wind Energy ◽  
Structured Interviews ◽  
Policy Documents ◽  
Perceived Justice ◽  
Energy Projects ◽  
Fair Procedure ◽  
Energy Justice ◽  
Local Acceptance

Policy documents in Limburg stress the importance of participation and distribution of benefits in wind energy projects, but it is not clear which modes of participation and distribution of benefits are most just, both in terms of perceived justice, and in terms of justice principles. Research shows that considering justice in renewable energy transitions increases the level of acceptance. This study aims to provide insight in what modes of participation and distribution are perceived as most just and likely to create local acceptance of wind parks. The most preferred modes are being compared to the indicators of the energy justice framework in order if they meet the criteria for a fair procedure and distribution of outcomes. Based on semi-structured interviews the analysis of the data demonstrated that different modes of participation in different phases of the process are being preferred and that a balance between modes of distribution of benefits is preferred. The results indicate that the most preferred modes of participation cannot necessarily address all indicators of procedural justice and that depending on the mode of distribution of benefits and the balance between those modes indicators of distributive justice can be addressed.

scholarly journals Renewable energy projects in Croatia: Present situation and future activities

2007 ◽  
Vol 11 (3) ◽  
pp. 55-74 ◽  
Author(s):  
Goran Granic ◽  
Filip Prebeg
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Energy Resource ◽  
Renewable Resource ◽  
Energy Sources ◽  
The European Union ◽  
Renewable Energy Resource ◽  
Energy Efficiency Improvement ◽  
Long Run ◽  
Energy Projects

Renewable energy sources should play an important role in the promotion of numerous Croatian energy goals. The development of a successful sector of renewable could in the long run contribute to energy efficiency improvement, diversification of production and supply safety, domestic production and lesser imports of energy sources and significant reduction of the environmental influences. Targets and strategy of the implementation for every renewable energy resource depends on the specifics of the particular one, with general trends in the European Union of renewable resource ratio increase in the energy balance.

Policy convergence as a multifaceted concept: the case of renewable energy policies in the European Union

2017 ◽  
Vol 38 (3) ◽  
pp. 361-387 ◽  
Author(s):  
Sebastian Strunz ◽  
Erik Gawel ◽  
Paul Lehmann ◽  
Patrik Söderholm
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Policy Support ◽  
Economic Convergence ◽  
The European Union ◽  
Energy Policies ◽  
Conditional Convergence ◽  
Policy Convergence ◽  
Four Dimensions ◽  
Renewable Energy Policies

AbstractThe literature on policy convergence has identified numerous facets and causal drivers of convergence. Distinguishing four dimensions of convergence (object, benchmark, drivers and directed process) helps clarify why and in what form policy convergence may occur (or not). Thus, depending on, for example, the object of analysis (policy outcome or instruments used), the same empirical case may give rise to opposing assessments. Furthermore, both economic and political drivers are necessary to account for successful policy convergence: economic convergence partly explains why countries may face similar problems, and political mechanisms explain why they might choose similar policies to solve a given problem. This article illustrates the multifaceted character of convergence for the dynamic field of renewable energy policies in the European Union. The empirical results indicate temporary convergence in the case of policy support instrument choices and conditional convergence in terms of renewable shares. However, the results suggest divergence of public R&D subsidies targeting renewables.

Promotional Policies and Legislative Support for Grid-Connected Renewable Energy Projects

2021 ◽  
pp. 324-352
Author(s):  
Vasundhara Sen ◽  
Ashish Kulkarni
Keyword(s):  
Renewable Energy ◽  
Renewable Energy Sources ◽  
Developed Countries ◽  
Policy Support ◽  
Energy Demands ◽  
Regulatory Frameworks ◽  
Floor Price ◽  
Support Tools ◽  
Energy Projects ◽  
The Comparative Study

Renewable Energy Sources-Based Electricity (RES-E) plays a key role in sustainable development – of meeting current energy demands, without adding to global warming concerns. However, as of 2017, only 8.5% of the total electricity generation came from RES-E. To boost this contribution, countries rely on strong legislative and policy support/tools. This case focuses on studying the legislative or regulatory frameworks put in place by the top three developed countries, and compares it with three developing countries, each of which are forerunners in RES-E, as of 2017. The comparative study suggests that while no single policy can be credited with the success behind rising RES-E in these countries, two key incentives are most important – namely feed-in-tariffs and renewable purchase obligations. Feed-in-tariffs act as floor price guarantee to the generator and renewable purchase obligations assures the generator of quantum of sale of the RES-E generated. When combined, these two incentives remain the most trusted policy tools even today for countries starting their journey in increasing their RES-E footprints.

La conexión entre política de cohesión y gobernanza económica en la UE: Eficiencia del nuevo marco para abordar las consecuencias de la crisis

2015 ◽  
Vol 5 (3) ◽  
pp. 44-62
Author(s):  
Laura Gómez Urquijo
Keyword(s):  
Social Protection ◽  
Economic Governance ◽  
The European Union ◽  
Investment Funds ◽  
Current Economic Crisis ◽  
Starting Point ◽  
New Economic Governance ◽  
Social Protection Systems ◽  
New Instruments

The objective of this article is to contribute to the discussion on the validity of new instruments to enhance cohesion in the European Union (EU). First, we question to which extent cohesion policy is submitted to the new economic governance. Second, we discuss this subordination affects the fulfillment of cohesion aims. This question is especially relevant due to the increase of inequalities in the current economic crisis and the great diversity among State Members (including social protection systems and expenses). Thus, our starting point is the new economic governance framework and its impact on the fulfillment of cohesion objectives. Statistical data are considered with this aim. Next, we will assess the role of European Structural and Investment Funds to eventually compensate public expense cuts, as well as its subordination to the macroeconomic government. This aspect will be contrasted through the study of Country Specific Recommendations given by the European Semester. Spanish El objetivo de este artículo es contribuir a la discusión sobre la validez de los nuevos instrumentos para fomentar la cohesión en la Unión Europea. Nos preguntamos en qué modo queda sometida la política de cohesión a la nueva gobernanza económica y cómo afecta a la efectividad para cubrir susfines. Esta cuestión es particularmente relevante ante el incremento de las desigualdades suscitado en la crisis económica actual. Por ello, nuestro punto de partida es el nuevo marco de gobernanza económica y su impacto en el cumplimiento de los objetivos de cohesión, considerando para ello datos estadísticos. A continuación, valoraremos, el papel de los Fondos Estructurales y de Inversión Europeos como posibles compensadores de la reducción del gasto público así como su subordinación al gobierno macroeconómico. Esta cuestión será contrastada también a través del examen de las Recomendaciones Específicas por país dadas por el Semestre Europeo. French Le but de cet article est de contribuer à la discussion sur la validité de nouveaux instruments pour promouvoir la cohésion dans l'UE. Nous avons considéré, d'une part, en quoi la politique de cohésion est soumise à la nouvelle gouvernance économique et, d'autre part, la façon dont elle utilise l'efficacité pour répondre à ses fins.Cette question est particulièrement pertinente étant donnée l'augmentation de l'inégalité soulevée par la crise économique actuelle, dans un contexte de grande diversité d'États membres, notamment en ce qui concerne les systèmes de protection sociale et les dépenses publiques. Par conséquent, notre point de départ s'inscrit dans le nouveau cadre de gouvernance économique et son impact sur la mise en œuvre des objectifs de cohésion, à partir de la prise en compte de données statistiques. Pour ce faire, nous évaluons le rôle des Fonds Structurels Européens, leur capacité de compenser la réduction des dépenses publiques et leur subordination au gouvernement macroéconomique. Ce e question sera également abordée par l'examen des recommandations spécifiques par pays fournies par le Semestre Européen.

European Energy Security

2017 ◽  
Author(s):  
Almas Heshmati ◽  
Shahrouz Abolhosseini
Keyword(s):  
European Union ◽  
Renewable Energy ◽  
Energy Policy ◽  
Energy Security ◽  
Energy Supply ◽  
Alternative Energy ◽  
Renewable Energy Sources ◽  
Relevant Literature ◽  
Primary Energy ◽  
The European Union

This chapter reviews relevant literature on the current state and effectiveness of developing renewable energy on energy security in general, and on energy security in the European Union (EU) in particular. The chapter elaborates on primary energy import sources, possible alternatives, and how energy security is affected by the sources of supply. It also gives an analysis of the effects of the Ukrainian crisis, the isolation of Iran on diversification sources, and on European energy security. It examines EU’s energy policy, analyses the best motivation for a new energy policy direction within Europe, and suggests alternative solutions for enhanced energy supply security. The aim is to suggest suitable solutions for energy security in Europe through energy supply diversification. Supply diversification includes alternative energy corridors for reducing dependency on Russia as a supplier and enhancing the power generated by renewable energy sources under the European Union 2020 strategy.

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