XX電力項目融資模式選擇研究
本文選題:電力項目 切入點:項目融資 出處:《西南石油大學(xué)》2014年碩士論文
【摘要】:電力是國民經(jīng)濟(jì)發(fā)展的一項基礎(chǔ)產(chǎn)業(yè),也是國民經(jīng)濟(jì)發(fā)展的先行產(chǎn)業(yè),占據(jù)著極其重要的地位。近年來,隨著改革開放步伐的不斷加強(qiáng)與深入,我國的電力行業(yè)卻面臨著極為嚴(yán)峻的考驗。其一是,電力供給與電力需求之間的供需平衡被破壞,供需缺口逐漸加大;其二是,國內(nèi)豐富的能源儲備沒有得到充分的利用和開發(fā)。盡管已經(jīng)加大了能源等基礎(chǔ)設(shè)施建設(shè)的投資力度,但還是滿足不了持續(xù)發(fā)展的需要,僅電力工業(yè)一個部門每年就必須新增120-150GW裝機(jī)容量以保證8%的年增長率要求。電力項目投資規(guī)模的日益加大,可以預(yù)見其對資金的需求是十分驚人的,傳統(tǒng)的融資模式已經(jīng)遠(yuǎn)遠(yuǎn)不能滿足大規(guī)模電力項目建設(shè)資金的融資需求。本文就是在這樣的背景下,展開了對電力項目融資模式的研究。由于項目融資各個模式特點各異,在具體運(yùn)用中的優(yōu)劣勢也各不相同,因此針對于具體的電力項目來選擇最適合的項目融資模式,已經(jīng)成為我國電力行業(yè)建設(shè)發(fā)展急需解決的問題。 本文在大量文獻(xiàn)調(diào)研的基礎(chǔ)上,從項目融資的基本理論出發(fā),對電力項目融資模式選擇過程中的內(nèi)外部因素進(jìn)行歸納整理,并對五種主流的項目融資模式進(jìn)行了簡介,為下文的融資模式選擇提供可選擇的方案。然后以XX水電站項目融資模式選擇為例,進(jìn)行具體的模式選擇過程分析,從運(yùn)作的繁簡程度及融資成本比較、項目產(chǎn)權(quán)關(guān)系、風(fēng)險承擔(dān)能力、后續(xù)融資能力四個視角對五種主流模式進(jìn)行定性的比較分析,再將影響因素細(xì)化為具體指標(biāo)借助于專家綜合評分法進(jìn)行打分,從而選擇出最適合該項目的融資模式即ABS融資模式。最后,對具體項目融資模式選擇過程進(jìn)行了小結(jié),以期為電力項目融資模式的選擇提供一些方法,為政府、電力企業(yè)進(jìn)行電力建設(shè)項目融資提供了借鑒和參考,對于推動中國電力事業(yè)的發(fā)展具有很強(qiáng)的現(xiàn)實意義和應(yīng)用價值。
[Abstract]:Electric power is a basic industry in the development of national economy as well as a leading industry in the development of national economy and occupies an extremely important position. In recent years, with the continuous strengthening and deepening of the pace of reform and opening up, However, the power industry in China is facing a severe test. One is that the balance of supply and demand between electricity supply and demand has been destroyed, and the gap between supply and demand is gradually widening. The abundant domestic energy reserves have not been fully utilized and exploited. Although the investment in infrastructure construction, such as energy, has been increased, it still cannot meet the needs of sustainable development. The power industry alone has to add the installed capacity of 120-150GW every year to ensure an annual growth rate of 8%. With the increasing scale of investment in power projects, it can be expected that the demand for funds will be staggering. The traditional financing mode has been far from meeting the financing needs of large-scale electric power project construction funds. This paper has carried out the research on the power project financing model under this background. Because of the different characteristics of each project financing model, the traditional financing mode has not been able to meet the financing needs of large-scale electric power project construction funds. The advantages and disadvantages in the specific application are different, so to select the most suitable project financing mode for specific electric power projects has become an urgent problem in the construction and development of the electric power industry in China. On the basis of a lot of literature research, this paper sums up the internal and external factors in the process of selecting the financing mode of electric power project, and introduces the five main project financing modes, starting from the basic theory of project financing. Then take XX hydropower station project financing mode selection as an example, carry on the concrete mode selection process analysis, from the operation complexity degree and the financing cost comparison, the project property right relations, Four angles of view of risk-bearing ability and financing ability are analyzed qualitatively and qualitatively, and then the influencing factors are classified into specific indicators with the help of the expert comprehensive scoring method. Finally, the selection process of the specific project financing mode is summarized, in order to provide some methods for the choice of power project financing mode, for the government. The electric power enterprise has provided the reference and the reference for the electric power construction project financing, which has the very strong realistic significance and the application value to promote the development of the Chinese electric power enterprise.
【學(xué)位授予單位】:西南石油大學(xué)
【學(xué)位級別】:碩士
【學(xué)位授予年份】:2014
【分類號】:F426.61;F426.91;F283
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