Wind Technology: A Framework for the Evaluation of Innovations’ Impacts on the Diffusion Potential

This paper proposes a framework based on which innovations in wind power technologies can be evaluated from the standpoint of their contribution to diffusion expansion. The framework helps build up a missing link between the technical literature on innovations and policy-oriented contributions concerned with the diffusion potential of wind power in national energy systems. The ideas are applied for the evaluation of wind technology innovations adopted in Spain. The framework can help policy-makers prioritize their innovation objectives and funding, so as to support the adoption of innovations that deserve the highest priority, given the country’s resources and energy system characteristics

Governance of national parks at the crossroads: New Zealand’s silent reform

New Zealand’s national parks are major attractions for tourism and recreation, while hosting other commercial activities considered compatible with that primary role, like grazing, commercial filming and renewable electricity production. Commercial activities can only be carried out according to the terms of legal documents referred to as ‘concessions’ (typically, permits, licences and leases). There are currently 14 national parks, all managed by the Department of Conservation (DOC). Most of the country’s native birds, reptiles, frogs, bats and plants are unique in the world, but highly vulnerable to introduced predators and human activities. DOC has argued frequently that its conservation activities are ‘heavily weighted towards the trapping and poisoning of ... introduced animals’. However, ‘less than 25% of conservation land receives interventions on key threats, with around 8% receiving possum, rat and stoat control’ The limited availability of financial resources is an important obstacle to implementing the department’s statutory biodiversity protection responsibilities. In the recent past DOC’s budgetary allocations have increased slightly every year. However, Treasury documents show that since 2013 there has been a reduction

The Real Options Attached to an Investment Project

The real options capture the importance of the managerial team’s role in creating value through investment projects. The investments in real assets have a set of options that managers can exercise during the period of the project to increase the value of the assets or to limit the eventual losses. This options have their own value.The traditional methods for investment project evaluatioan, based on discounted cash flows, have some major disadvantages: they assume the irreversibility of a decision, do not take into account the interactions between decisions in several periods and treat the investment as pasive. The evaluation using real options undertake this disadvantage. The paper shows the main types of real options, together with their elements and captures the impact of these options on the value of the investment. The main two models used to evaluate real options, the binomial model and Black-Scholes model, are explained and used to compute the value of real options attached to an investment project.real options, investment valuation, investment project, managerial flexibility.

Partnerships in implementing sustainability policies theoretical considerations and experiences from Spain

The greening of economic and industrial activities requires that new relationships be formed between private actors who often never met before on the business or policy arenas. To initiate and give direction to the sustainability transition, public actors may choose to become involved in partnerships for policy implementation, next to industrial prime movers. After having catalyzed the process, new forms of public-private partnerships may emerge, in the transition towards ‘green private-private partnerships’.\ud This paper presents theoretical considerations regarding the types and evolution of publicprivate partnerships (PPPs) involved in the implementation of sustainability policies. The central argument is that PPPs are themselves in a process of transition, with changes in the types of activity, types of investment and types of financing on which partnerships focus. Empirically, the paper analyses the greening of the electricity industry in Spain and looks specifically at the cases of wind electricity and biomass technologies’ diffusion. The evolution of PPPs shows clearly that there is a transition from ‘project-vehicle-partnerships’ to ‘technology-specific-partnerships’ to ‘renewables-development-partnerships’. In parallel there is a transition from ‘internally-financed-partnerships’ towards ‘bank-financedpartnerships’ with a substantially higher diffusion potential. Finally, another transition was observed from ‘learning-partnerships’ towards ‘commercialization-partnerships’. As the greening of the electricity industry advances, there is a gradual retreat of public actors and an increase in new green private-private-partnerships. Through these analyses, the paper fits into the conference theme regarding the dynamics for public-private partnerships. In the same time it is relevant for the theme regarding the implementation of public policies and technologies to promote sustainable development. Understanding the metamorphosis of partnerships supports policy-makers to design policies facilitating wider engagement in PPPs, a more secure operation environment and a faster transition towards new green private-private partnerships in industrial activities. The paper draws in postdoctoral research and is aimed for oral presentation in the workshop “Dynamics of public-private partnerships in implementing sustainability policies”