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Investment and Financing Perspectives for a Solar Photovoltaic Project

Andrea Marchioni, Carlo Alberto Magni () and Davide Baschieri
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Andrea Marchioni: University of Modena and Reggio Emilia
Davide Baschieri: University of Modena and Reggio Emilia

from University of Primorska Press

Abstract: In this work we illustrate a simple logical framework serving the purpose of measuring value creation in a real-life solar photovoltaic project, funded with a lease contract, a loan contract and internal financing (i.e., withdrawal from liquid assets). We use the projected accounting data to compute the value created. We assess the project from both an investment perspective (operating assets and liquid assets) and a financing perspective (debt and equity). Furthermore, focusing on value creation for equityholders, we calculate the expected contribution on shareholders' wealth increase of operating and financing activity. In particular, we highlight the role of the distribution policy in financial modeling by describing the strict logical connections between estimated data and financial decisions.

Keywords: photovoltaic solar energy; project evaluation; net present value; distribution policy (search for similar items in EconPapers)
Date: 2020
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