Research On Risk Management Of PROT Project Financing Mode For Medium And Small Hydropower Stations Based On Hall Three - Dimensional Structure

Hydropower station has more than100years history of using in the world, there have been more than a hundred years of exploiting water energy to generate electricity in China and Vietnam. In recent decades, China has prosperous developments in hydropower station field, has matured high-grade and complex technology, manufactured high-end equipment successfully, grasped the construction process of hydropower project. China has built many large hydropower stations by itself and small, medium-sized hydropower stations also has been developed along with this progess. However, after a period of high-speed development time, the many problems including economic-society-ecology, safety, technology, science and other aspects of small and medium-sized hydropower station were also exposed. In this situation, in order to solve the problems of small and medium-sized hydropower station, Kunming University of Science and Technology professor Wang Songjiang has put forward a new project financing mode is PROT mode (Purchase-Rehabilitate-Operate-Transfer) which is on the basis of the BOT, TOT, BT, PPP project financing mode. In order to supply PROT teacher’s research, all aspects of PROT project finacing inluding function, structure of participants, contract structure, finacing structre, credit structrure etc. are researched in this paper. In addtiontion, PROT financing small and medium-sized hydropower station project’s risk management is researched by using Hall the three-dimensional structure theory, risk factors of a typical PROT project financing are identified by using three dimensions of Hall structure such as knowledge dimension, logic dimension and time dimension, and then through the AHP method combined with expert scoring method to evaluate the identified risk factors whose responsing and monitoring measures are proposed then. This theory is more detailedly reseached in the case of a Vietnames small hydropower station.This thesis consists of six chapters, the main contents are as follows. The research background, research purposes and significances, research ideas and methods, research’s innovations are described in the first chapter. The second chapter is mainly review all of documents which are related to the basic theory and knowledge of project financing, project financing risk management and Hall3D structure. The third chapter is one of the main content of this thesis, all knowledge of PROT project financing mode’s Hall structure in small and medium-sized hydropower station such as function, framework, structure of participants, contract struture, project procedure, capital structure, financing structure and credit struture etc are researched in this chapter. The main content of the fourth chapter relates to applitcation of the Hall three-dimensional structure which has been established in the thirth chapter, to recognize riskes of PROT project financing mode in small and medium-sized hydropower, in addition, according to the AHP method to assess the risk factors which have been just identified, the risk response and control method are reseached. The fifth chapter mainly use the fourth chapter research’s results in a Vietnames typical small hydropower station, obtained the riskes which always occur when applicating of PROT project financing in Vietnamese small and medium-sized hydropower station, mainly riskes are as follows:the legal risk, investement risk, incompleted contract risk, schedule risk and environmental risk. Thus, risk response and control measures are proposed in the specific case of Vietnam. The sixth chapter analyzed this paper’s the overall conclusion, evalution and prospection.