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Environmental And Economic Aspects In Decision Making Of The Investment Project “Wind Park”

Author

Listed:
  • Jaroslava Janekova

    (Technical University of Kosice)

  • Jana Fabianova

    (Technical University of Kosice)

  • Andrea Rosova

    (Technical University of Kosice)

Abstract

The current competitive environment puts on companies still increasing demands and their success is more uncertain. They are forced to implement many changes and challenges in limited terms with limited resources. An effective solution to this situation is the project management. Its principles are applied in this paper at deciding on acceptance or rejection of the investment project wind park. The decision making is carried out from an environmental and economic point of view. Within the environmental assessment it is a comprehensive assessment of impacts of the wind park construction on the population, geological environment, soil, flora, fauna and their habitats, on the country and its infrastructure, etc. Assessment of the investment from an economic and financial point of view is realized by dynamic methods. Their selection is chosen so that the investment was assessed in three ways, its profitability, liquidity and risk. The emphasis is taken on risk, which is analysed using Monte Carlo simulations.

Suggested Citation

  • Jaroslava Janekova & Jana Fabianova & Andrea Rosova, 2016. "Environmental And Economic Aspects In Decision Making Of The Investment Project “Wind Park”," Polish Journal of Management Studies, Czestochowa Technical University, Department of Management, vol. 13(1), pages 90-100, June.
    • Handle: RePEc:pcz:journl:v:13:y:2016:i:1:p:90-100
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    References listed on IDEAS

    as
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    3. Gillenwater, Michael, 2013. "Probabilistic decision model of wind power investment and influence of green power market," Energy Policy, Elsevier, vol. 63(C), pages 1111-1125.
    4. repec:aen:journl:1991v12-03-a03 is not listed on IDEAS
    5. Barradale, Merrill Jones, 2010. "Impact of public policy uncertainty on renewable energy investment: Wind power and the production tax credit," Energy Policy, Elsevier, vol. 38(12), pages 7698-7709, December.
    6. Montes, Germán Martínez & Martín, Enrique Prados, 2007. "Profitability of wind energy: Short-term risk factors and possible improvements," Renewable and Sustainable Energy Reviews, Elsevier, vol. 11(9), pages 2191-2200, December.
    Full references (including those not matched with items on IDEAS)

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    Cited by:

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    2. Alica Tobisova & Andrea Senova & Gabriela Izarikova & Ivana Krutakova, 2022. "Proposal of a Methodology for Assessing Financial Risks and Investment Development for Sustainability of Enterprises in Slovakia," Sustainability, MDPI, vol. 14(9), pages 1-14, April.
    3. Andrea Senova & Alica Tobisova & Robert Rozenberg, 2023. "New Approaches to Project Risk Assessment Utilizing the Monte Carlo Method," Sustainability, MDPI, vol. 15(2), pages 1-19, January.
    4. Cezary Banaszak & Andrzej Gawlik & Paweł Szcześniak & Marcin Rabe & Katarzyna Widera & Yuriy Bilan & Agnieszka Łopatka & Ewelina Gutowska, 2023. "Economic and Energy Analysis of the Construction of a Wind Farm with Infrastructure in the Baltic Sea," Energies, MDPI, vol. 16(16), pages 1-20, August.
    5. Robert Ulewicz & Dominika Siwiec & Andrzej Pacana & Magdalena Tutak & Jarosław Brodny, 2021. "Multi-Criteria Method for the Selection of Renewable Energy Sources in the Polish Industrial Sector," Energies, MDPI, vol. 14(9), pages 1-30, April.

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