Y公司风电项目融资问题研究

发布时间：2018-01-04 05:17

本文关键词：Y公司风电项目融资问题研究　出处：《天津商业大学》2017年硕士论文　论文类型：学位论文

【摘要】：随着气候的变化、环境的污染以及传统能源的日渐枯竭,世界各国越来越重视对新能源的开发利用。因此,风力作为无污染、可再生、储量多的清洁可再生能源广泛被人们关注,风能的开发可以增加我国的能源供给、优化能源结构、减少环境污染。从2005年起得到了大力发展的风电行业,虽起步晚,但发展较快。2010年风电行业发展增速放缓,2014年起行业发展再次回暖。近年来,国家出台了一系列政策,通过制定新能源产业规划,进行税收优惠、补贴机制、技术支持等方式,保障风电等行业快速发展,达到节能减排目标。但由于风电项目初期投入大,回收期长,以及风资源本身的不稳定特点,使融资问题成为风电行业发展过程中所面临的难题。本文以Y公司作为研究对象,依据国内外的融资结构理论,结合风电行业的融资特点,分析Y公司的资本结构状况、财务状况以及融资渠道、融资结构等方面,总结Y公司主要面临融资渠道单一,依赖银行信贷;债务融资占比高,融资结构不合理;公司借短用长,融资不确定性强;偿债能力下降,融资成本走高等问题,并对问题提出相关对策建议,对Y公司未来的健康发展有着重要意义。本文分为六个章节,第一章绪论部分,概述本文的研究背景、研究意义以及国内外研究等内容;第二章融资相关理论概述,研究了国内外融资的相关理论,为后文融资策略选择打下基础;第三章分析了Y公司融资的现状,包括公司资本结构、财务状况等;第四章分析Y公司风电项目融资问题;第五章,针对问题提出相应的解决措施;第六章结论与展望。
[Abstract]:As a result of climate change, environmental pollution and the depletion of traditional energy, more and more countries attach importance to the exploitation and utilization of new energy. Therefore, the wind as a non polluting, renewable, clean and renewable energy reserves more extensive attention by people, the development of wind energy can increase our energy supply, optimizing energy structure, reducing environmental the pollution. The wind power industry development since 2005, though started late, but the rapid development of.2010 years of development of wind power industry slowdown in 2014, the development of the industry to pick up again. In recent years, the state issued a series of policies, through the development of new energy industry planning, tax incentives, subsidies mechanism, technical support etc. the rapid development of security, wind power and other industries, to achieve energy-saving emission reduction targets. But in the beginning of wind power project investment, long payback period, unstable characteristics and wind resources, make the financing question Problems become a serious problem faced during the development of wind power industry. This paper takes the Y company as the research object, on the basis of financing structure theory at home and abroad, combined with the characteristics of the wind power industry financing, analyzing the capital structure situation of Y company, the financial situation and the financing channels, financing structure and other aspects, summed up the Y company is facing the financing channels a single, dependent on bank credit; debt financing ratio, unreasonable financing structure; financing company by the use of short long, strong uncertainty; solvency declined, higher financing costs, and put forward relevant countermeasures to the problem, is of great significance to the healthy development of the company Y in the future. This paper is divided into six chapters. The first chapter is the introduction part, the research background of this paper outlines the content, significance and research; the second chapter summarizes relevant theories of financing, external financing and domestic related theories, for the financing strategy selection The third chapter analyzes the current situation of Y company's financing, including the company's capital structure and financial status. The fourth chapter analyzes the Y company's wind power project financing problems; the fifth chapter puts forward the corresponding solutions to the problems; sixth chapter, conclusion and prospect.

【学位授予单位】：天津商业大学
【学位级别】：硕士
【学位授予年份】：2017
【分类号】：F406.7;F426.61

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