Value Analysis Of IPO In The Wind Power Enterprises

With the increasing prominence of energy and environmental issues, all the counties in the world are paying more and more attention to clean and renewable energy. As an important category of renewable energy, wind energy has been used in different ways long time ago. Relying on the development of technology, people should follow the pace of technology and create new ways to make use of wind energy. Wind power is a great improvement in the use of wind energy. It is said that wind energy is one of the oldest and most important energy sources in the world. At present, wind energy has huge reserves, the technology to make wind power is mature and people’s demand to clean energy is increasing, all of which meet the condition to develop wind power in large scale. By the end of 2014. The wind power capacity of China is 96.57 million Kw, the generating capacity of China is 159.8 billion Kwh in total, accounting for 2.85% of total annual generating capacity. Although the development of wind power is late, its power generation capacity has exceeded nuclear power and solar power, revealing the advantages and potential of wind power generation. As the main body of wind energy development and utilization, enterprise will face the problem of IPO listing in the development of the industry. One of the first considerations is how to assess the overall value of the enterprise. This article starts with the factors influencing the enterprise value, analyzes the factors affecting the value of wind power enterprises in details, fully explores the value of wind power enterprises in all aspects and then further studies the method of evaluating the value of wind power enterprise. This research will adopt the combination of qualitative analysis and quantitative analysis. Based on the theoretical analysis, the research will further analyze the case study. Finally, the value of the wind power generation enterprise is determined by three parts:general market value, the option value of the approved installed capacity and the environmental value. The general market value is analyzed by the method of mature income, this article has improved the method of mature income, seeks to be more in line with the wind power enterprise’s characteristic, causes the appraisal result to be more accurate. Approved installed capacity is the invisible value of wind power enterprises, this paper construct a virtual options market, wind power companies can deal the approved installed capacity in the market, the buyer purchase approved capacity can be developed in the future for a favorable opportunity to increase production capacity and get more revenue; the buyer can also give up the future development and utilization of rights, not to expand production capacity of electric power production, it will the loss of the purchase price; the seller to sell an approved capacity, means that the future will not be able to exploit the resources, but it can get money, so you can see approved capacity has the typical characteristics of real option, this paper redefines the related parameters of option pricing method, and the application of the option pricing method value assessment. Environmental value is a kind of valuable part, which is difficult to quantify but can not be ignored. For this part of value, fictional trading market is used to analyze its option property of its value. In the market, there are fire power companies, enterprises of nuclear power, solar power companies, wind power companies and other types of power generation enterprises, these enterprises should be deal in the market transactions to obtain power, the right to power generation, clean energy companies are the holders of such rights, polluting enterprises is buyers. In this paper, the construct virtual trading market to quantify the environmental value, and calculated the value.