Energy for tomorrow : division 3 energy and the environment = Energie demain. Financial model for large scale solar power systems. World Energy Conference [14, 17-22 Sep. 1989, Montreal].
The date, Luz International has commissioned seven solar power plants totalling about 194 MW of net capacity in California, on the basis of privately raised financing. The operting experience of these unprecedented plants is quite satisfactory and both output and reliability are exceeding expectations. A program, also privately financed, and totalling about 400 MW of capacity, willfollow with five 80 MW plants being planned in California between 1989 and 1992. Electric utilities in the United States were not entitled to the tax benefits for which SEGS quantified, when purchasing facilities to increase their capacity. That, coupled with the difficulty for electric utilities to make large financing commitments for projects using a previously untested technology, forced Luz to develop and implement a new financial model for its solar power plants. The model is based on the creation of an independent entity created to build, own and operate the plant, and on attracting debt and equity financing from independent third parties ont the basis of a power purchase contract with a strong and reliable electric utility. Luz is planning to use a similar model for potential projects in other countries, including developing countries. To obtain such independent financing on a large scale, the following ingredients are absolutely needed: a) A legal, institutional framework allowing for independent electricity generation and for long term power purchase agreements based on the utility's real marginal costs...Ver documento. BACKGROUND. DIFFICULTIES FOR UTILITIES TO ENGAGE DIRECTLY IN SEGS. THE PROPOSED FINANCIAL MODEL. The Basic Model. Role of Main Participants. Application on this Model. THE INSTITUTINAL FRAMEWORK. INCENTIVES AND INVESTMENT PROTETION MECHANISMS. TECHNICAL GUARANTEES. PROJECT FINANCING. Long Term Debt. Project Equity. ECONOMIC ADVANTAGES OF THE MODEL. ABSTRACT.
Presenta ilus., gráfs. y diagrs.
Ministerio de Ambiente y Energía. Secretaría de Planificación del Sub-Sector Energía - Centro de Información de Energía y Ambiente, CIENA
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