Wind energy investments in Greece-an economical approach

Abstract

The work presented in this paper concerns the application of a computer model for the economical assessment of investments in the wind energy field, in order that the PUBLIC POWER CORPORATION of Greece can evaluate the potential private investments, during the negotiations for the Power Purchase Agreement. All technical and economic elements of the investment are taken into account, as well as the Greek legislation (affecting available grants, tariffs, grid conditions, etc.). The model calculates the cash flows of the entire investment and of the equity and some basic indices for the economic assessment such as the net present value, the internal rate of return, the discounted payback period and the benefit-to-cost ratio of the cash flows above.