Financing of Private Hydropower Projects

Head, Chris

Washington, DC:World Bank

关键词: ACCOUNTING;    ADB;    BALANCE SHEET;    BANK OF JAPAN;    BANKING SECTOR;   

DOI  :  10.1596/0-8213-4799-3
RP-ID  :  WDP420

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

This study provides an overview of theissues and challenges related to the private financing ofhydropower projects in developing countries. From the verylimited pool of projects that have already reached or arenearing financial closure, ten have been chosen for thestudy from five countries with the most active in promotingprivate hydro development. Collectively the case studyprojects provide a reasonable cross-section of private hydroschemes that have been or are being developed. The financingof greenfield private infrastructure on a limited-recoursebasis in developing countries faces certain common issuesirrespective of the type of project. However, hydropowerfaces additional difficulties caused by the site-specificnature of projects, high construction risk and longconstruction periods, their capital-intensive nature with ahigh proportion of local costs, unpredictable output subjectto river flows and broader water management constraints,complex concession process to achieve transparency in theaward and pricing of output, and environmentalsensitivities. The study suggests the need for longer-termfinancing to better suit hydropower characteristics, aregulatory framework and realistic public-privaterisk-sharing arrangements responsive to the requirements ofhydropower projects, and the careful preparation of projectsby the public sector to enable their formulation on anadequate technical and contractual basis for development asa private concession.