Case Study Of Photovoltaic Power Plant Project Financing

Based on the improvement of socialist market economy system,we must grasp and make the most of the important period of strategic opportunities of development,focusing on economic construction,and actively respond to the call of the party and national policy,promote economic growth,to achieve rapid development.The economic activity of photovoltaic power generation industry plays an indispensable role.Many large power generation enterprises in our country have begun to attract investment expansion,the development and expansion of enterprise scale,which can not be separated from the outside world to seek financing to solve the financial needs.China energy structure improvement,China maintain economic growth,the total consumption of energy will show a growth trend.To guide rational investment in new energy,photovoltaic power generation and other new energy to promote the healthy and orderly development of the industry,improve the efficiency of renewable energy tariff subsidies,according to the February 28,2005 Tenth National People's Congress of the fourteenth meeting of the Standing Committee of the "renewable energy law",the state decided to adjust the new photovoltaic power station benchmark price policy,photovoltaic power generation enterprises set off the development of mergers and acquisitions.At the same time,mergers and acquisitions brought about by the shortage of funds has become a difficult problem for photovoltaic enterprises,project financing needs to be solved.According to China's photovoltaic power generation industry market situation and related industrial policy status quo in China,starting from the two aspects of theory and practice,through the selection of China's photovoltaic power generation industry in the D project financing needs of business as an example,a case study is carried out on the photovoltaic power plant project financing.In the case study,the basic situation of D,the company's financial data and the D company intends to mergers and acquisitions photovoltaic power plant situation is introduced,and the statement of the D company needs in the course of project financing;secondly,according to the needs of the company,respectively,on the financing scheme in design,were designed.Equity financing and debt financing in two different financing options,and analysis the specific content and design scheme of the key elements of reason;thirdly,the feasibility of the two schemes(reimbursable)analysis of equity financing and debt financing of different ways of financing the cost,expenses and taxes are calculated,and the the debt servicing capacity is analyzed,that is the financing plan for D company;finally,the traditional way of financing debt financing and equity financing in the new way of financing the cost of financing And the rate of assets and liabilities,collateral and operating costs,taxes and net profit of the four major aspects of the comprehensive comparison,that equity financing is more suitable for D company's financing needs and future development,at the same time,equity financing is more suitable for our meeting of the central economic increase equity financing efforts,the deleveraging of the requirements of the economic development.To evaluate the feasibility of practical solutions,this paper discusses the photovoltaic power generation enterprise project financing,legal and reasonable under the premise to find the method of project financing,equity financing is more suitable and more perfect for the enterprise.At the same time,the feasibility of the specific operation is listed,and the reasonable implementation of the scheme can be achieved,so as to promote the gradual expansion of the scale,healthy and sustainable development of the photovoltaic power generation enterprises in the market economy.