Vėjo elektrinių parko finansavimo metodų tyrimas

Abstract

In this paper, alternative financing methods (crowdfunding, green bonds) are investigated and analyzed as methods to increase the investment in Lithuania’s renewable energy sector. The author proposes 9 financing models of 3 different methods (classic debt financing, crowdfunding and green bonds) to finance a 100 MWp offshore wind farm. By using a simple framework of financial ratios, the author compares the proposed models. This framework also includes the need and value of external financial aid to fund this kind of offshore project. The most appealing model proposed is C1, which consists of 30 % firm’s equity and 70% of green bonds issuance. This model has the highest NPV (-166,43 million Eur), and requires the lowest amount of aid for the project to generate the required minimum return for the investors throughout the lifespan of the project – 215,76 million euros.