KANOPKA, Adomas; RUDZKIS, Paulius
January 2013
Proceedings of the International Scientific Conference on Practi;2013, p73
Conference Proceeding
Modern economic development is based on the new ideas and innovation-driven investments. The better resources of investment project implementation are allocated, the higher the level of innovation, the greater added valued and benefits to society should be created. Whereas, the investment performance and growth rate of economic are largely influenced by the quality of the investment projects selection, which have to coincide with the existing and evolving economic performance considerations. In this article, we investigate key points of the risk analysis methodology and tools for renewable energy investments from the viewpoint of various stakeholders. Dealing with this problem the risk analysis principles and methods were reviewed. Assessing sources of risk in renewable energy investments three groups of stakeholders - the public sector (state), financier and investor - were distinguished. Expert evaluation method for the evaluation of risk factors was applied for utilizing the specific knowledge, skills and experience of projects development professionals. Application of expert evaluation method allowed the proper formulation of risks and helped to evaluate risk factors according to their importance to interested parties. The analysis revealed that only three factors were relevant to more than one interested party: delay in delivering of the object; changes in subsidy policy, influencing firms' profitability levels; changes in public opinion and lobbying activity of stakeholders.


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