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:: Volume 10, Issue 41 (Summer-1393 2014) ::
QEER 2014, 10(41): 25-42 Back to browse issues page
Financial evaluation of the hydroelectric power plant Aras (Gharechilar) Regarding the Clean Development Mechanism Revenue
Gholamali Sharzei , Saeed Madadi * 1, Arezo Kianfar
1- , madadi_ut@yahoo.com
Abstract:   (6708 Views)

Climate change is caused by global warming due to increasing concentrations of greenhouse gases is the most important international environmental problem. In 1997, by increasing national awareness about the harmful effects of greenhouse gases, The Kyoto Protocol was formed for controlling the greenhouse gas emissions. Clean Development Mechanism (CDM) of the Kyoto Protocol makes an opportunity for all countries. CDM abates the cost of reducing emissions for industrialized countries and also provides financial resources and new technologies for developing countries. Based on Clean Development Mechanism, The emissions reduction projects provide Certified Emission Reduction (CER), that developing countries will sell CER to the developed countries, developed countries by purchase CER As part of their obligation, offering that to the Kyoto Protocol. Construction of hydroelectric plants is the major of emission reduction projects and Iran has a high capacity in hydroelectric plants. This study evaluates construction of Gharechilar hydroelectric plants in two scenarios, present and absence Clean Development Mechanism revenue. results indicate that construction of Gharechilar hydroelectric plants reduce about 550 thousand tons of CO2 emission in produce 4/862 gig watt hours of electricity and Clean Development Mechanism revenue cause Internal rate of return (IRR) increase from10.18 percent to12.13 percent. Revenue obtained from the clean development mechanism improves profitability of Gharechilar hydroelectric plant project with improve financial indicators, project attractive increases for investor.

Keywords: Clean Development Mechanism, hydroelectric plants Aras (Gharechilar), financial evaluation and internal rate of return.
Full-Text [PDF 324 kb]   (1950 Downloads)    
Type of Study: paper | Subject: Energy Economic
Received: 2013/01/10 | Accepted: 2013/11/17 | Published: 2014/11/11 | ePublished: 2014/11/11
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sharzei G, madadi S, kianfar A. Financial evaluation of the hydroelectric power plant Aras (Gharechilar) Regarding the Clean Development Mechanism Revenue. QEER 2014; 10 (41) :25-42
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Volume 10, Issue 41 (Summer-1393 2014) Back to browse issues page
فصلنامه مطالعات اقتصاد انرژی Quarterly Energy Economics Review
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