Study On The Performance And Risk Of Green Asset Securitization Of PPP Project In Goldwind

In terms of infrastructure projects,China is relatively tight in funding.Since then,the cooperation between the government and social capital in funding,technology,and management has greatly promoted the resolution of the conflict between supply and demand of public services.The cooperation between government and social capital in this field is called the PPP model.Although it has better expectations and plans,many problems have been found in the actual construction work: project construction is often large-scale,and therefore requires a large amount of capital investment,which brings greater financial pressure on the enterprise.After the project is completed,when the investment can be recovered is not well determined.Due to the above problems,most of the social capital is on the sidelines and is afraid to cooperate with the government immediately.In order to solve the above problems,green asset securitization has entered the perspective of relevant parties.Green asset securitization is a new type of product extended by green finance with the continuous development of China’s economy and ecology,which is conducive to the use of social capital investment to promote environmental optimization and respond to a series of environmental problems in China.As far as China’s current situation is concerned,infrastructure construction occupies most of the share of China’s PPP field,and in order to better serve the people,projects often emphasize ecological protection and environmental protection.By comparison,it can be found that the two have very similarities in the applied industries and fields,so green asset securitization can more strongly support the development of China’s PPP model.This paper adopts case analysis method and literature analysis method.Based on trade-off theory,superior financing theory,principal-agent theory,risk isolation theory and risk management theory,this paper selects Goldwind Technology PPP project green asset securitization financing as a case study.First of all,this article analyzes the identification criteria of green asset securitization of PPP projects in China and the feasibility of implementing green asset securitization financing of PPP projects.Secondly,from the internaland external aspects,analyze the motivation of Goldwind Technology to carry out this special plan,specifically organize the company’s implementation of the special plan for green asset securitization financing of PPP projects,and introduce the participants and transaction structure in detail..Thirdly,this paper analyzes that the economic growth of Goldwind Technology after the implementation of the special plan is worthy of change,and finds that green asset securitization of PPP projects is conducive to improving the economic value added of enterprises.The analysis of corporate free cash flow shows that green asset securitization of PPP projects can increase the free cash flow of the company in the short term,but due to the scale of financing,the effect on long-term free cash flow is not obvious.For plan managers and investors,Goldwind PPP project green asset securitization financing has brought them positive performance.On the whole,Goldwind has successfully implemented green asset securitization of PPP projects.Finally,this paper analyzes the risks faced by Goldwind in implementing green asset securitization of PPP projects and Goldwind’s risk management measures,finds the shortcomings in the risk management measures,and proposes deficiencies and suggestions.