项目融资概论（英文版）(doc 79页)

项目融资概论（英文版）内容提要：

   投资计划资金之募集，资金的提供者主要以计划产生之现金流量作为本息支付或投资报酬之来源对发起人或借款人无完全追索权（因此又称有限追索权融资）复杂的融资及风险保障安排技术与经济的评估非常重要潜在风险大但报酬亦高计划由一个与发起人分离的独立个体所有计划个体的营业活动范围有严格限制计划个体需拥有独立营运的各项权利融资人拥有计划所有的资产与权利的第一顺位求偿权力融资人充分了解并接受计划的风险或计划风险已被适当分担。

     Local electric utility company are required to purchase all the electric output of qualified independent power producers under long-term contracts.

The purchase price for the electricity must equal the electric utility’s “avoided cost”(marginal cost) of generating electricity.

      Innovations for Project financing:from natural resource projects to nufacturing facility and Infrastructure projects Manufacturing: the case of Bev-Pak Inc.Infrastructure: public-private partnership to finance Generating Stations, transportation facility, and others. 

       Project will be placed into service

Technical Feasibility: independent expert’s opinion Operations -->economic viable undertaking Economic Viabilitymarket demand, products’ pricecost escalation,delay, production level, operation cost...Availability of raw materials and capable mgt.

enough quantitieslong-term supply contract (longer than the term of debt) Ideal Candidates Capable of functioning as independent economic units Can be completed without undue uncertainty Worth more than the cost to completeFactors Considered

Credit requirement---expected profitability & credit supportTax implicationsImpacts on the sponsors’ existing debt obligationsLegal or regulatory requirementsAccounting treatment of liability and contractual agreement.

 

 

 

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