The Experts below are selected from a list of 19161 Experts worldwide ranked by ideXlab platform
Theocharis Tsoutsos - One of the best experts on this subject based on the ideXlab platform.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
Marco Dean - One of the best experts on this subject based on the ideXlab platform.
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the planning and Appraisal of mega transport infrastructure Projects delivered by public private partnerships the case for the use of policy led multi criteria analysis
Organization technology and management in construction: An international journal, 2019Co-Authors: John M Ward, Harry T Dimitriou, Brian G Field, Marco DeanAbstract:Mega transport infrastructure Projects are frequently perceived as critical to the “success” of major metropolitan, regional and national development because of their potential to affect significant socioeconomic and territorial changes. However, the mega infrastructure development literature tends to focus upon the frequent failures of such Projects because of their inability to meet their original expectations. A major cause for such perceived underperformance has been attributed to the inadequacies of ex-ante Project Appraisal methodologies. In particular, their excessively narrow focus has prompted growing calls for broader and more transparent Project Appraisal frameworks. These calls coincide with a period where public private partnerships (PPPs) are growing in importance globally as the favoured procurement route for governments looking to undertake new mega transport infrastructure developments. Some see the practicalities of PPPs as placing them at odds with aspirations for more inclusive and open Project Appraisal with adequate consideration of the public interest. It is the authors’ contention that if introduced with broader and more systematically presented sustainability concerns, PPPs can remain compatible with such ambitions. Towards this end, this paper presents the rudimentaries of a policy-led multi-criteria analysis (PLMCA) approach to Project Appraisal as a means by which PLMCA can contribute to more holistic PPP procurement practices. The authors contend in the latter part of the paper that PLMCA addresses many of the limitations associated with the application of narrower decision-making and Project Appraisal approaches currently supporting PPPs and other more conventional procurement practices.
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theory and background of multi criteria analysis toward a policy led approach to mega transport infrastructure Project Appraisal
Research in Transportation Economics, 2016Co-Authors: John E Ward, Harry T Dimitriou, Marco DeanAbstract:Abstract The aims of this paper are twofold. Firstly, to present a review and critical analysis of the varying forms and functions of Multi-Criteria Analysis presented in the literature, and secondly, drawing from this, to introduce methods and processes by which policy leadership can be introduced into such processes for the Appraisal of large-scale transport infrastructure Projects to form a policy-led multi-criteria analysis. Following the discussion in the first paper of this Special Issue, ‘Presenting the Case for the Application of Multi-Criteria Analysis to Mega Transport Project Infrastructure Appraisal’, this contribution commences by outlining further the generic features and challenges of multi-criteria analysis approaches to Project Appraisal whilst emphasizing the difference among various frameworks and attendant processes for such approaches. It also highlights the important role/value of the multi-criteria mapping of stakeholder policies and agendas affecting Project decision-making as a means of defining and scoping the boundaries of the Project exercise under study and the trade-off decision-spaces for stakeholder dialogues and negotiations in their search to arrive at mutually agreed actions and outcomes. The paper discusses how multi-criteria analysis frameworks can be tailor-designed for particular agencies and stakeholders developed around problems, challenges and issues. This is done in the acknowledgement that such exercises, especially when applied to mega infrastructure Project Appraisal, typically attract a multiple-institutional response and where ultimately an institutional leader (or partnership of stakeholders) exists/emerges that impose its/their priorities on others. Alternatively, the approach can be tailor-made for specific institutions with its imbedded hierarchy of policies and priorities that frame the stakeholder decision space within which other parties can participate and trade off interests. The first part of the paper highlights the important role of scenarios of policy-making contexts and policy leadership indicating the new risks, uncertainties and opportunities these may offer in multi-criteria analysis exercises, indicating that some/many past processes have been conducted outside of any real reference to such matters. In so doing, such applications have them silently and implicitly adopt scenarios and policy assumptions that are not transparent frequently reflecting, it is alleged, ‘business as usual’ circumstances in contexts when the signs are very much that these trends will not/cannot prevail. The authors contend that without explicit policy leadership there is a danger that certain institutional stakeholder priorities will be imposed over others by the most powerful without adequate dialogue. Understanding that this matters a great deal in contexts when Project stakeholder powers shifts occur is very significant. Examples of such circumstances are when national governments become, less or more powerful and economically affluent, when relative legislative and regulation powers become less or more binding and powerful, and when a major private sector investor upon which a Project depends goes bankrupt. The second half of the paper builds on these observations to offer a generic multi-criteria analysis framework and attendant processes that imbed policy leadership firmly within multi-stakeholder decision-making (termed Policy-led Multi-criteria Analysis). The framework developed is to be applied to mega transport Projects via the use of suitable Appraisal criteria in the pursuit of sustainable development goals, which seek to address both quantitative and qualitative dimensions and concerns of multiple stakeholders, with particular emphasis on the processes required to identify and incorporate suitable policy leadership, including feedback between Appraisal and policy.
Kenneth A Byrne - One of the best experts on this subject based on the ideXlab platform.
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forestry in the republic of ireland government policy grant incentives and carbon sequestration value
Land Use Policy, 2013Co-Authors: Anthony Odonnell, Mark Cummins, Kenneth A ByrneAbstract:Abstract Recent decades have seen a rapid increase in the area of privately owned forest plantations in Ireland. This has been largely driven by grant aid and annual premium payments from the government and the European Union. These forests are significant carbon sinks and as such are delivering added benefit to the country by contributing to greenhouse gas reductions under the Kyoto Protocol. The direct impact of government subvention on the net present value (NPV) for a defined forestry plantation is investigated. The added value of carbon sequestration to forestry investment is also examined using the Forestry Commission (Great Britain) carbon model. Extending the typical assumption of a constant carbon price for Project Appraisal purposes, this paper allows carbon prices to evolve randomly according to a flexible stochastic price process. The model chosen is an extended mean-reverting jump-diffusion with the flexibility to capture the higher order statistical features (i.e. skewness and kurtosis) of the carbon markets. This allows for an analysis of the risk and uncertainty around the NPV from exposure to stochastic carbon prices. It is shown that government grants and annual premiums for afforestation significantly improve the NPV on forestry investment. Carbon sequestration is shown to add further value.
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forestry in the republic of ireland government policy grant incentives and carbon sequestration value
Social Science Research Network, 2012Co-Authors: Anthony Odonnell, Mark Cummins, Kenneth A ByrneAbstract:Recent decades have seen a rapid increase in the area of privately owned forest plantations in Ireland. This has been largely driven by grant aid from the government. These forests are significant carbon sinks and as such are delivering added benefit to the country by contributing to greenhouse gas reductions under the Kyoto Protocol. The direct impact of government subvention on the net present value (NPV) for a defined forestry plantation is investigated. The added value of carbon sequestration to forestry investment is also examined using the UK Forestry Commission carbon model. Extending the typical assumption of a constant carbon price for Project Appraisal purposes, this paper allows carbon prices to evolve randomly according to a flexible stochastic price process. The model chosen is an extended mean-reverting jump-diffusion, with the flexibility to capture the higher-order statistical features (i.e. skewness and kurtosis) of the carbon markets. This allows for an analysis of the risk and uncertainty around the NPV from exposure to stochastic carbon prices. It is shown that government funded grants for afforestation significantly improve the NPV on forestry investment. Carbon sequestration is shown to further add value.
Konstantinos Venetsanos - One of the best experts on this subject based on the ideXlab platform.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
Penelope Angelopoulou - One of the best experts on this subject based on the ideXlab platform.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
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renewable energy sources Project Appraisal under uncertainty the case of wind energy exploitation within a changing energy market environment
Energy Policy, 2002Co-Authors: Konstantinos Venetsanos, Penelope Angelopoulou, Theocharis TsoutsosAbstract:Abstract There are four elements, which contribute to the oncoming increase of electricity demand: climate changes, the expected growth rates of EU Member State economies, changes in the consumption patterns and the introduction of new technologies. The new deregulated Electricity Market is expected to respond to this challenge and the energy supply will be adequate and cost effective within this new environment which offers promising opportunities for power producers both existing and newcomers. In this paper a framework for the Appraisal of power Projects under uncertainty within a competitive market environment is identified, focusing on the electricity from Renewable Energy Sources. To this end the wind energy-to-electricity production in Greece will serve as a case study. The subject matter is centred on the following areas: • the uncertainties within the new deregulated energy market; • the evaluation methods including an analysis of the introduced uncertainties after deregulation and a new approach to Project evaluation using the real options, as well as comparison of the valuation methodologies within the new environment drawing from the case for Greece.
