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The aim of this article is to identify the relative importance of technical and economic variables in the financial feasibility of repowering wind farm projects. A financial valuation model is developed. We carry out a sensitivity analysis with several variables considered to be key in the repowering decision. The most relevant technical variable is the increase in production efficiency and the most relevant economic variable is the capital expenditures in new equipment. Furthermore, the decision to repower critically depends upon the level of support being provided. The repowering project would not be feasible in the absence of support.Determinants for the Repowering of Wind Farms 283 of activities at existing projects and investments in new wind capacity (i.e., so-called greenfield projects). This requires an analysis of different variables and factors that may act as drivers or barriers in the repowering decision. Furthermore, a wider perspective suggests that these projects may have significant positive externalities in terms of environmental and socioeconomic benefits 1 (see Del Río et al. 2011). Therefore, public authorities may consider providing financial support for repowering projects, depending on the comparison of their social and private benefits and cost with those of other alternatives.The aim of the present article is to identify and discuss the relative importance of technical and economic variables in the financial feasibility of repowering wind farm projects. A financial valuation model is developed that considers the particularities of these projects. This model allows us to carry out a sensitivity analysis with several key variables, including changes in installed capacity, production efficiency, capital expenditures, operation and maintenance (O&M) costs, and public support. The results are relevant for both project investors and public authorities.Accordingly, the article is structured as follows. The next section discusses the determinants for repowering that are relevant from a project investor perspective. The financial valuation model that allows us to assess the relevance of the main technical and economic variables is developed next. A sensitivity analysis of the decision to repower with respect to changes in those variables is then performed, based on information from Spanish wind farms. The article closes with some concluding remarks and suggestions for further research.

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A proposta xorde despois dunha reflexión conxunta entre os compoñentes dos dous GIDs da UDC en "Operacións Financeiras, Economía Enerxética e Economía Circular" e "Didáctica da Expresión Corporal e Motricidade (GIEDEM)", sobre a implantación de metodoloxías activas no proceso de ensinanzaaprendizaxe. A idea reside na posta en contacto do alumnado das materias "Expresión corporal e