Development of a Techno-economic Framework for Renewable Energy Project Financing

Desmond Eseoghene Ighravwe; Daniel Mashao

doi:10.1109/REPE48501.2019.9025162

Development of a Techno-economic Framework for Renewable Energy Project Financing

Desmond Eseoghene Ighravwe
, Daniel Mashao

University of Johannesburg

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

4 Citations (Scopus)

Abstract

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.

Original language	English
Title of host publication	2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019
Publisher	Institute of Electrical and Electronics Engineers Inc.
Pages	120-124
Number of pages	5
ISBN (Electronic)	9781728145624
DOIs	https://doi.org/10.1109/REPE48501.2019.9025162
Publication status	Published - Nov 2019
Externally published	Yes
Event	2nd IEEE International Conference on Renewable Energy and Power Engineering, REPE 2019 - Toronto, Canada Duration: 2 Nov 2019 → 4 Nov 2019

Publication series

Name	2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019

Conference

Conference	2nd IEEE International Conference on Renewable Energy and Power Engineering, REPE 2019
Country/Territory	Canada
City	Toronto
Period	2/11/19 → 4/11/19

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 7 Affordable and Clean Energy
SDG 9 Industry, Innovation, and Infrastructure
SDG 17 Partnerships for the Goals

Keywords

Renewable energy
developing countries
multi-criteria
project financing
public infrastructure

ASJC Scopus subject areas

Energy Engineering and Power Technology
Renewable Energy, Sustainability and the Environment
Electrical and Electronic Engineering

Access to Document

10.1109/REPE48501.2019.9025162

Cite this

Ighravwe, D. E., & Mashao, D. (2019). Development of a Techno-economic Framework for Renewable Energy Project Financing. In 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019 (pp. 120-124). Article 9025162 (2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019). Institute of Electrical and Electronics Engineers Inc.. https://doi.org/10.1109/REPE48501.2019.9025162

Ighravwe, Desmond Eseoghene ; Mashao, Daniel. / Development of a Techno-economic Framework for Renewable Energy Project Financing. 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019. Institute of Electrical and Electronics Engineers Inc., 2019. pp. 120-124 (2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019).

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abstract = "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.",

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Ighravwe, DE & Mashao, D 2019, Development of a Techno-economic Framework for Renewable Energy Project Financing. in 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019., 9025162, 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019, Institute of Electrical and Electronics Engineers Inc., pp. 120-124, 2nd IEEE International Conference on Renewable Energy and Power Engineering, REPE 2019, Toronto, Canada, 2/11/19. https://doi.org/10.1109/REPE48501.2019.9025162

Development of a Techno-economic Framework for Renewable Energy Project Financing. / Ighravwe, Desmond Eseoghene; Mashao, Daniel.
2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019. Institute of Electrical and Electronics Engineers Inc., 2019. p. 120-124 9025162 (2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019).

Research output: Chapter in Book/Report/Conference proceeding › Conference contribution › peer-review

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AU - Ighravwe, Desmond Eseoghene

AU - Mashao, Daniel

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

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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 -

Ighravwe DE, Mashao D. Development of a Techno-economic Framework for Renewable Energy Project Financing. In 2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019. Institute of Electrical and Electronics Engineers Inc. 2019. p. 120-124. 9025162. (2019 IEEE 2nd International Conference on Renewable Energy and Power Engineering, REPE 2019). doi: 10.1109/REPE48501.2019.9025162

Development of a Techno-economic Framework for Renewable Energy Project Financing

Abstract

Publication series

Conference

UN SDGs

Keywords

ASJC Scopus subject areas

Access to Document

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Cite this