Valuation of projects for power generation with renewable energy: A comparative study based on real regulatory options

摘要: Abstract This comparative study evaluates an investment project on renewable energy based wind power. We have conducted the in three European Union countries: Denmark, Finland and Portugal. modelled main uncertainties that affect this kind of project, such as cost production electric power, costs consumer price index. For each these countries, we analysed mechanisms public support for energy. identified real options included regulatory frameworks countries assessed how they expanded net present value project. To end, used two different methods option valuation: Monte Carlo method binomial method. proved obtained results using both are quite similar. Finally, evaluated incentives offered concluded that, economic terms, is country with strongest energy, followed by Denmark and, last place,