Different eolic energy project valuation methodologies were assessed for the Colombian case, namely the discounted cash flow and real option approaches, the latter applied by estimating option extended values and including a real expansion possibility. In order to estimate volatility, which is a fun...

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Tipo de recurso:
Fecha de publicación:
2011
Institución:
Universidad de Medellín
Repositorio:
Repositorio UDEM
Idioma:
eng
OAI Identifier:
oai:repository.udem.edu.co:11407/1409
Acceso en línea:
http://hdl.handle.net/11407/1409
Palabra clave:
Discounted cash flow
Eolic energy
Extended value
Present net value
Real options
Volatility
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http://purl.org/coar/access_right/c_16ec
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spelling 2015-10-09T13:18:27Z2015-10-09T13:18:27Z20111203592http://hdl.handle.net/11407/1409Different eolic energy project valuation methodologies were assessed for the Colombian case, namely the discounted cash flow and real option approaches, the latter applied by estimating option extended values and including a real expansion possibility. In order to estimate volatility, which is a fundamental real option valuation parameter, the prices of the factors most outstandingly affecting it, namely electric power and winds, were simulated. It is concluded that the projects in question would not be considered viable through traditional valuation methods, but their actual feasibility comes clear by applying the real option approach, all the more when taking into account current tax and other incentives such as Emission Reduction Certificates.enghttp://www.scopus.com/inward/record.url?eid=2-s2.0-84868132499&partnerID=40&md5=2358cbfecd724aed98ee0f713de86eb6Cuadernos de Administracion, enero/junio 2012, volume 25, issue 44, pp 193-231ScopusArticleinfo:eu-repo/semantics/articlehttp://purl.org/coar/resource_type/c_6501http://purl.org/coar/resource_type/c_2df8fbb1info:eu-repo/semantics/restrictedAccesshttp://purl.org/coar/access_right/c_16ecDepartamento de Finanzas, Universidad Eafit, Investigadora del Grupo de Investigación en Finanzas y Banca (gifyb), Medellín, ColombiaUniversidad de Medellín, Medelín, ColombiaUniversidad Nacional de Colombia, Bogotá, ColombiaOchoa C.M.Betancur J.D.H.Munera O.M.G.Discounted cash flowEolic energyExtended valuePresent net valueReal optionsVolatilityThe valuation of eolic energy projects in Colombia under the real option approach [La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales]THUMBNAIL47. La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales.pdf.jpg47. La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales.pdf.jpgIM Thumbnailimage/jpeg6793http://repository.udem.edu.co/bitstream/11407/1409/2/47.%20La%20valoraci%c3%b3n%20de%20proyectos%20de%20energ%c3%ada%20e%c3%b3lica%20en%20Colombia%20bajo%20el%20enfoque%20de%20opciones%20reales.pdf.jpg6a0d530e732972c5635410a1011937c0MD52ORIGINAL47. La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales.pdf47. La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales.pdfapplication/pdf1037777http://repository.udem.edu.co/bitstream/11407/1409/1/47.%20La%20valoraci%c3%b3n%20de%20proyectos%20de%20energ%c3%ada%20e%c3%b3lica%20en%20Colombia%20bajo%20el%20enfoque%20de%20opciones%20reales.pdf004eda6efa8b0fa219c5247aa4fe3797MD5111407/1409oai:repository.udem.edu.co:11407/14092020-05-27 16:23:32.094Repositorio Institucional Universidad de Medellinrepositorio@udem.edu.co
dc.title.english.eng.fl_str_mv The valuation of eolic energy projects in Colombia under the real option approach [La valoración de proyectos de energía eólica en Colombia bajo el enfoque de opciones reales]
dc.contributor.affiliation.spa.fl_str_mv Departamento de Finanzas, Universidad Eafit, Investigadora del Grupo de Investigación en Finanzas y Banca (gifyb), Medellín, Colombia
Universidad de Medellín, Medelín, Colombia
Universidad Nacional de Colombia, Bogotá, Colombia
dc.subject.keyword.eng.fl_str_mv Discounted cash flow
Eolic energy
Extended value
Present net value
Real options
Volatility
topic Discounted cash flow
Eolic energy
Extended value
Present net value
Real options
Volatility
spellingShingle Discounted cash flow
Eolic energy
Extended value
Present net value
Real options
Volatility
description Different eolic energy project valuation methodologies were assessed for the Colombian case, namely the discounted cash flow and real option approaches, the latter applied by estimating option extended values and including a real expansion possibility. In order to estimate volatility, which is a fundamental real option valuation parameter, the prices of the factors most outstandingly affecting it, namely electric power and winds, were simulated. It is concluded that the projects in question would not be considered viable through traditional valuation methods, but their actual feasibility comes clear by applying the real option approach, all the more when taking into account current tax and other incentives such as Emission Reduction Certificates.
publishDate 2011
dc.date.created.none.fl_str_mv 2011
dc.date.accessioned.none.fl_str_mv 2015-10-09T13:18:27Z
dc.date.available.none.fl_str_mv 2015-10-09T13:18:27Z
dc.type.eng.fl_str_mv Article
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dc.type.driver.none.fl_str_mv info:eu-repo/semantics/article
dc.identifier.issn.none.fl_str_mv 1203592
dc.identifier.uri.none.fl_str_mv http://hdl.handle.net/11407/1409
identifier_str_mv 1203592
url http://hdl.handle.net/11407/1409
dc.language.iso.none.fl_str_mv eng
language eng
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dc.relation.ispartofen.eng.fl_str_mv Cuadernos de Administracion, enero/junio 2012, volume 25, issue 44, pp 193-231
dc.rights.coar.fl_str_mv http://purl.org/coar/access_right/c_16ec
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eu_rights_str_mv restrictedAccess
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dc.source.spa.fl_str_mv Scopus
institution Universidad de Medellín
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