Using the Financial Instruments for Electric Energy Industry Modernization: the Experience of European Countries
A review of the financial instruments used in the European countries to modernize the electric energy industry has been undertaken. A review of the European practices indicates that financial support for the electric energy industry modernization projects is financed by such instruments, mechanisms...
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| Format: | Article |
| Language: | English |
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Research Centre of Industrial Problems of Development of NAS of Ukraine
2018-03-01
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| Series: | Bìznes Inform |
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| Online Access: | http://www.business-inform.net/export_pdf/business-inform-2018-3_0-pages-60_70.pdf |
| Summary: | A review of the financial instruments used in the European countries to modernize the electric energy industry has been undertaken. A review of the European practices indicates that financial support for the electric energy industry modernization projects is financed by such instruments, mechanisms and incentives as «green» tariff, «green» certificates and «quota obligations», «green» bonds, auctions, concessional lending, grants, investment subsidies. Venture capital investment is a common form of financing for electric energy industry modernization in the European countries. It has been determined that «green» bonds are an effective instrument that allows to accumulate significant amounts of funds and direct them to the renewable energy industry. Nowadays a significant number of renewable energy industry projects in the EU countries have already been implemented at the expense of the funds obtained from the «green» bonds issue. «Green» bonds are a pivotal promising financial instrument for the modernization of electric energy industry in the European countries. Formation of the mechanism for their issue in Ukraine, taking account of the foreign practice of creating a market of «green bonds», will allow to accumulate the financial resources that are necessary for development of the renewable energy industry. |
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| ISSN: | 2222-4459 2311-116X |