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Project finance in Hungarian electricity sector. Effect of feed-in tariff system’s change onto power plant investments


  • Madácsi, Roland


The research analyses the former and the current status of the small gas-motor power plant investments in the Hungarian energy sector. It discusses the development of project financing in the segment and the major changes and effects of new regulations and subsidy-policy implemented in 2010. The objective of this paper is to present the results of an empirical research of the so called GCHP projects, and to draw conclusion concerning how classic project financing conditions were present and changed during the last decade, and how regulation affected the current and future financial status of these projects.

Suggested Citation

  • Madácsi, Roland, 2015. "Project finance in Hungarian electricity sector. Effect of feed-in tariff system’s change onto power plant investments," Corvinus Economics Working Papers (CEWP) 2015/15, Corvinus University of Budapest.
  • Handle: RePEc:cvh:coecwp:2015/15

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    project financing; corporate financing; energy sector;

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation
    • L94 - Industrial Organization - - Industry Studies: Transportation and Utilities - - - Electric Utilities

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