The Development and Finance of Global Private Power

The Development and Finance of Global Private Power

The Development and Finance of Global Private Power

The Development and Finance of Global Private Power

Synopsis

Dr. Hines draws on her own extensive worldwide research and her consultations with major multinational corporations to provide a comprehensive, detailed study of the rationale underlying the emergence of global private power, ways to find opportunities for further development within the global private power business, and alternative methods and techniques for its development and finance. Her book shows that, with assistance from bilateral and multilateral government agencies such as the International Finance Corporation and the various national export-import banks, project debt ratios resonably low. Equity is usually contributed to the project by all the major participants. Global competition for viable power projects is tending to reduce costs and increase plant efficiencies. This work is a major contribution to our understanding of what global power privatization is, where it is being implemented and how it is done, and the various considerations that energy executives and public policymakers worldwide should keep in mind when they seek financing for their private power projects.

Excerpt

As the global economy and population expand, the need for infrastructure, including electric power, expands as well. Even without thinking about the future need for infrastructure, we may notice that electric power installations, roads, bridges, telecommunications systems, airports, and other types of infrastructure are currently needed in many parts of the world. In the developing countries, the infrastructure considered basic or essential to developed countries is still not present. For example, Mexico (in Latin America), Nigeria (in Africa), and India (in South Asia) do not have adequate infrastructure in terms of power sources, roads, bridges, telephones, airports, and water treatment facilities. In the developed world, existing infrastructure may need rebuilding, repair, renovation, expansion, and redevelopment.

Even in many parts of the world, where adequate electric power (an important component of a country's infrastructure) exists for today's users, that power needs to be made less costly to produce and consume and more efficient to produce from the various available fuels. The development of new forms of power and the renovation and redevelopment of current power sources must focus on greater output at less cost, accompanied by greater efficiency from the fuel supply and generating system and less environmental pollution during power production.

Multinational private firms offering power production and sales have entered the global scene to supplement the efforts of governments and regulated utility companies. These privately financed, nonregulated power plants, which have recently emerged, tend to produce needed power less expensively and more efficiently, with less pollution to the environment.

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