Determining the Sustainability of a Community Micro Hydro Power System using Real Options Analysis

Marfori, Isidro Antonio V.; Culaba, Alvin B.; Ubando, Aristotle T.; Almonares, Ray Anthony; Chen, Wei‐Hsin

doi:10.1088/1755-1315/268/1/012108

Cited by 3 publications

(3 citation statements)

References 13 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…En el desarrollo del estudio se identifican metodologías de valoración financiera, donde los autores más representativos han empleado métodos de valoración que permiten estimar el valor de empresas y proyectos futuros con el uso de métodos como el flujo de caja descontado (Buhl et al, 2016;Marfori et al, 2019;Svetlova et al, 2013;Torchio & Surana, 2014;Thorn et al, 2011), la valoración por múltiplos (Drăpgoi al., 2016), el valor económico añadido (García & Montes, 2018;Nikoloudis et al, 2017;Salazar Araujo et al, 2018), el método de opciones reales (Marfori et al, 2019;Pérez-Vas et al, 2021;Rodrigo-González et al, 2021;Tyler & Chivaka 2011), VAN (Espinoza & Morris, 2013;Pérez-Vas et al, 2021;Rodrigo-González et al, 2021). Además, una de las bases de los métodos es el uso de indicadores financieros, donde destacan el WACC, Retorno sobre Activos (ROA), Retorno sobre Patrimonio (ROE), Tasa Interna de Retorno (TIR) y Pay back (Drăpgoi et al, 2016;Nikoloudis et al, 2017).…”

Section: Discussionunclassified

“…El análisis de opciones reales utiliza el modelo back scholes y el método del árbol binomial, incorporando la incertidumbre de tomar decisiones futuras sobre el proyecto propuesto (Marfori et al, 2019). No obstante, Tyler y Chivaka (2011) mencionan que este método se utiliza para mejorar la comprensión de los impactos de la incertidumbre, en comparación con el método del flujo de caja descontado que no satisface las fluctuaciones que puedan surgir.…”

Section: Revisión Sistemática De La Literaturaunclassified

See 1 more Smart Citation

Un acercamiento a las metodologías para la valoración financiera: análisis bibliométrico y revisión sistemática de literatura

López-Rodríguez,

Velásquez-Lizcano,

Fajardo-Sierra

et al. 2024

RANAC

View full text Add to dashboard Cite

Propósito: Desarrollar un acercamiento hacia las metodologías para la valoración financiera, como herramienta que permite a los gerentes tener una visión objetiva y determinante para generar valor empresarial.Metodología: Se ejecuta un análisis bibliométrico en Scopus utilizando el software R Core Team 2022-Bibliometrix y VOSviewer, y una revisión sistemática de la literatura a partir del protocolo PRISMA.Resultados: Se resaltan como las principales metodologías para la valoración financiera al flujo de caja descontado, opciones reales, el valor presente neto, valoración por múltiplos, el valor económico agregado, y diversas razones financieras que complementan dichos procesos de valoración.Implicaciones: A pesar de que se identifica un incremento regular de la producción bibliográfica, es evidente la escasez de literatura sobre el tema abordado.Originalidad: El uso de estas metodologías permite determinar las decisiones gerenciales asociadas a la valoración de las compañías para su beneficio a largo plazo.

show abstract

Section: Discussionunclassified

Section: Revisión Sistemática De La Literaturaunclassified

Un acercamiento a las metodologías para la valoración financiera: análisis bibliométrico y revisión sistemática de literatura

López-Rodríguez,

Velásquez-Lizcano,

Fajardo-Sierra

et al. 2024

RANAC

View full text Add to dashboard Cite

show abstract

“…González and Callejo (2018) point out that it is through flexibility that ROT covers horizons not reached by NPV. As examples of the flexibility use, Liu and Ronn (2018) show the case of an entrepreneur that has decided to get further knowledge about a certain competitive scenario before making the capital expenditure, and Marfori et al (2019), resorting to the same strategy, adopted the option of abandoning a small hydroelectric plant.…”

Section: Introductionmentioning

confidence: 99%

Comparative evaluation of investment analysis methods: an application in renewable energy auctions between 2011 e 2015

Caldas

Júnior

2021

ReA UFSM

View full text Add to dashboard Cite

Purpose - This work aims to analyze the assertiveness of net present value (NPV) and real options theory (ROT), at the moment of decision making for investments in renewable energy projects, considering the 244 winning projects in the auctions of reserve energy that occurred between 2011 and 2015.Design/methodology/approach –This is a quantitative study that used real data from 150 wind power and 94 photovoltaic projects available on ANEEL´s website. For data analysis, the confusion matrix, the area under the ROC Curve and the Kappa Index were used.Findings – It was concluded that NPV is more effective for recommendations to invest in projects with chances to be successful, while ROT is more accurate in suggesting against investing in projects with propensity for failure. It was also found that the degree of agreement between the two techniques is substantial and determined by the level of volatility of real options.Research limitations/implications – The limitations of this study refer to the difficulties of identifying the reasons that motivated failures in the projects.Originality/value – Theoretically, this work contributes to identify the characteristics that effectively differentiate ROT from NPV at the time of decision making. Empirically, this work contributes to doing an ex-post analysis of the projects.

show abstract

Off-Grid Electrification Using Renewable Energy in the Philippines: A Comprehensive Review

Salac,

Somera,

Castro

et al. 2024

Smart Cities

View full text Add to dashboard Cite

Universal access to electricity is beneficial for the socio-economic development of a country and the development of smart communities. Unfortunately, the electrification of remote off-grid areas, especially in developing countries, is rather slow due to geographic and economic barriers. In the Philippines, specifically, many electrified off-grid areas are underserved, with access to electricity being limited to only a few hours a day. This is mainly due to the high dependence on diesel power plants (DPPs) for electrifying these areas. To address these problems, hybrid renewable energy systems (HRESs) have been considered good electrification alternatives and have been extensively studied for their techno-economic and financial feasibility for Philippine off-grid islands. In this work, articles published from 2012 to 2023 focusing on off-grid Philippine rural electrification were reviewed and classified based on their topic. The taxonomical analysis of collected studies shows that there is a saturation of works focusing on the technical and economic aspects of off-grid electrification. Meanwhile, studies focusing on environmental and socio-political factors affecting HRES off-grid electrification are lagging. A bibliographic analysis of the reviewed articles also showed that there is still a lack of a holistic approach in studying off-grid electrification in the Philippines. There are only a few works that extend beyond the typical techno-economic study. Research works focusing on environmental and socio-political factors are also mainly isolated and do not cross over with technical papers. The gap between topic clusters should be addressed in future works on off-grid electrification.

show abstract

Determining the Sustainability of a Community Micro Hydro Power System using Real Options Analysis

Cited by 3 publications

References 13 publications

Un acercamiento a las metodologías para la valoración financiera: análisis bibliométrico y revisión sistemática de literatura

Un acercamiento a las metodologías para la valoración financiera: análisis bibliométrico y revisión sistemática de literatura

Comparative evaluation of investment analysis methods: an application in renewable energy auctions between 2011 e 2015

Off-Grid Electrification Using Renewable Energy in the Philippines: A Comprehensive Review

Contact Info

Product

Resources

About