TY - GEN
T1 - Development of a Techno-economic Framework for Renewable Energy Project Financing
AU - Ighravwe, Desmond Eseoghene
AU - Mashao, Daniel
N1 - Publisher Copyright:
© 2019 IEEE.
PY - 2019/11
Y1 - 2019/11
N2 - Till date, several efforts have been dedicated to renewable energy (RE) technology selection, but this technology financing has been given limited attention, especially in Africa. This problem has resulted in several RE projects failure in Africa. This study, therefore, presents a techno-economic framework for RE technology financing. The framework uses a SWARA (Step-wise weight assessment ratio analysis) method to determine criteria importance and a VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje) method to rank Public Private Partnership (PPP) models for RE technology financing. Using a solar photovoltaic microgrid system as a case study, the framework applicability was tested. Four technical and four economic criteria are used to rank debt (P1), private equity (P2), and public funds (P3) as potential alternatives for the RE technology financing. Based on experts' judgments, the proposed framework ranked these alternatives as P1>P3>P2. When these results were compared with a SWARA-TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method, P1 was the best model for the RE technology.
AB - Till date, several efforts have been dedicated to renewable energy (RE) technology selection, but this technology financing has been given limited attention, especially in Africa. This problem has resulted in several RE projects failure in Africa. This study, therefore, presents a techno-economic framework for RE technology financing. The framework uses a SWARA (Step-wise weight assessment ratio analysis) method to determine criteria importance and a VIKOR (Vlse Kriterijumska Optimizacija Kompromisno Resenje) method to rank Public Private Partnership (PPP) models for RE technology financing. Using a solar photovoltaic microgrid system as a case study, the framework applicability was tested. Four technical and four economic criteria are used to rank debt (P1), private equity (P2), and public funds (P3) as potential alternatives for the RE technology financing. Based on experts' judgments, the proposed framework ranked these alternatives as P1>P3>P2. When these results were compared with a SWARA-TOPSIS (Technique for Order of Preference by Similarity to Ideal Solution) method, P1 was the best model for the RE technology.
KW - Renewable energy
KW - developing countries
KW - multi-criteria
KW - project financing
KW - public infrastructure
UR - http://www.scopus.com/inward/record.url?scp=85083376256&partnerID=8YFLogxK
U2 - 10.1109/REPE48501.2019.9025162
DO - 10.1109/REPE48501.2019.9025162
M3 - Conference contribution
AN - SCOPUS:85083376256
T3 - 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019
SP - 120
EP - 124
BT - 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019
PB - Institute of Electrical and Electronics Engineers Inc.
T2 - 2nd IEEE International Conference on Renewable Energy and Power Engineering, REPE 2019
Y2 - 2 November 2019 through 4 November 2019
ER -
