Metodologías para la estructuración de inversiones en proyectos de energía renovable

Optimal Structuring of Investments in Electricity Generation Projects in Colombia with Non-Conventional Energy Sources

“…Green credits: The application of a low interest rate from the banking sector or financial companies should be promoted for NCES projects. In [1], it is corroborated that the GC of NCES can be reduced up to 44%, when there is a scenario of 100% debt, with a grace period of 5 years, a term of 10 years, and an interest rate of 6% A.E., as well as a depreciation of assets at 10 years.…”

“…The LCOE considers the initial investment, fixed and variable administration, operation and maintenance (AOM) costs, fuel cost, reliability charge, positive and negative externalities, capital sources, green bonds, as well as fiscal and economic incentives, among others. Equation (1) shows the structure of the LCOE [30,32].…”

“…where Io is the initial investment cost (USD), considered in the LCOE I component of the LCOE; Ct is the annual operating costs (USD), which includes fixed and variable AOM costs, fuel, and positive and negative externaties in components LCOE V , LCOE F , LCOE FL , and LCOE E of the LCOE, respectively; Et is the amount of energy produced in one year (kWh), i is the discount rate, n is the operational lifetime (years), and t is the useful life of the project (years) [1].…”

“…This work corroborates that small and medium-sized companies, including new ones, are not able to take full advantage of investment tax incentives, specifically the benefit of recovering 50% of the investment through income tax during the first 15 years of the project's operation. For this reason, it is necessary to extend this benefit for the entire operating life of the project in order to recover 50% of the investment [1,19,30].…”

“…The structuring of projects with non-conventional energy sources (NCES) represents a complex process for investors, who must define an adequate methodology to reduce or minimize generation costs (GC) under a local context of fiscal and economic incentives. Thus, it is necessary to establish investment strategies, through the use of financial and optimization methods, that allow determining the most appropriate generation technologies, considering issues such as intermittent, limited, or inefficient energy supply for rural and non-interconnected areas, lack of employment, low agricultural technification and lack of telecommunication services and modern infrastructure for the execution of daily activities, as well as low adaptation to climate change [1][2][3]. In China, for example, the authors in [4] adopted the Richardson maturity model (RMM) to evaluate the effect of credit period on the efficiency of non-conventional renewable energy source (NCRES) project investments.…”