Study On Project Finance Model Based On Power Sector

At present, China's electric power industry is in a rapidly-developing period.The development and construction of electric power projects have become a crucial part for our electric power enterprises and even for our national economy development.However,the construction capital obtained in conventional ways by electric power companies still lags behind the market realistic demand. And among the various new operation ways playing their important part in the world capital market, project financing is undoubtedly one of the most significant kinds, being widely used in many projects in lots of countries. Therefore, as a key financing method, project financing is supposed to be popularized and to be made full use of in the electric power industry in China.Summarizing the domestic and foreign project financing concept and practice development,meanwhile combining the feathers and present situation of our electric power industry,this article has analyzed the patterns, the opertion processes and respective advantages and disadvantages of several existing common project financing. According to the analysis of various project financing patterns,this article has made suggestions on proper project financing patterns for projects respectively in nuclear power,wind power, hydropower. PPP and BOT models are recommended for nuclear power projects;BOT and FL models for wind power projects and ABS for hydropower projects. At last, this article analyses the operation experiences and lessons of domestic project financing application based on the existing practices of project financing in our electric power industry, in the hope of guiding our future project financing in electric power industry.Application of project financing in the electric power industry will be the direction of future development.Considering the feathers and concrete financing practice of our electric power industry, suggesting more appropriate project financing patterns to several segments of the industry and summarizing the experiences and lessons in practice has its great significance toward our future successful application of project financing in our electric power industry.