The Research Of Project Finance In Our Country's Wind Power Industry

Energy is the driving force for sustained and rapid economic development. The economy can not develop without the support of energy. China's economic growth has relying heavily on high consumption of resources, although the total resources of China is the largest in the word, per capita consumption is half of the world's per capita. As China's rapid economic development, energy issues have become increasingly problems should be solved. Traditional energy coal is the main energy in China, and coal produced in the process of using have became a serious threat to the survival of the human environment, reduced the quality of human life. Therefore, in order to achieve the sustainable development of our economy, we must look for abundant clean energy to replace traditional sources of energy to support rapid economic development. The wind energy as an abundant, renewable, non-polluting clean energy increasingly attached high priority of our government.In the development process of China's wind power industry, because of its own large-scale financing, long payback period, traditional of bank loans or government investment can not meet the wind project's demand for capital. Therefore, the search for new financing sources becomes imperative. Project finance, as a new, more flexible forms of financing, compared to the traditional financing channels, to more effectively solve large-scale project financing. China as early as 80 years in the 20th century began to construct large-scale infrastructure by project finance, and proved successful to the promotion development of China's basic industries. Project financing through practice and exploration in the world over years, has accumulated some experience, providing a good application of theoretical and practical basis in China's wind power industry. However, the specific ways of project financing is different, and how to reasonably choose the best financing for the construction of wind power project, and effectively solve the various problems of project financing in the actual process of applying, in order to promote the wind power industry in China better, faster and healthy development, where the purpose of writing this article.In this paper, based on the theoretical study on the project financing and the wind power industry development status in China, put forward BOT model, PPP model, ABS model and other specific models to meet the financial needs of the wind power industry, and introduced a variety of advantages and the problems of specific models to provide some theoretical support.This paper is divided into five chapters:Chapter 1, Introduction. Mainly introduces the research background, significance, the recent status and the theory of project financing, main content, and the innovation and lack of this paper.Chapter 2, Analysis of project finance related issues. This chapter introduces the concept of project finance, the development of project finance, in order to the reader can understanding the project finance better.Chapter 3, The status and the necessity of project financing in China's wind power industry. This chapter introduces the development status of China's wind power industry, and in many ways to explain the project finance is necessary and feasible in the development of China's wind power industry. Study the following basis.Chapter4, China's wind power industry preferred financing model. This chapter introduces the wind power industry in China preferred to specific types of financing models:BOT model, TOT model, PPP model, ABS model, and the specific advantages of financing models and the problems faced.Chapter 5, The measures of project finance in China's wind power industry. Based on former analyzing, proposing some suggestions. For example, improving legal environment, approval system, training special person.