Suchergebnisse

Private investments are critical enablers to achieving energy access for over 770 million people worldwide. Despite decreasing capital costs, investments in renewable energy (RE) projects in developing countries are low due to unattractive risk-return profiles. Through understanding key risks drivers and their interactions, actionable insights can be drawn to mitigate investment risks, making energy more accessible. This paper reviews RE risks and methods used for risk assessment and mitigation for developed and developing countries with a focus on Sub-Saharan Africa countries (SSA). The review finds that while risk analysis and evaluation mainly employed semi-quantitative multicriteria decision analysis (MCDA) and system dynamics (SD) methods for developing countries, qualitative methods were used to identify mitigations. The methods assessed technical and economic risks at a minimum, while MCDA and SD methods can assess social, political, and policy risks. The efficacies of mitigations were tested using SD and quantitative methods such as agent-based modelling and Monte Carlo simulation. The paper further introduces a 'holistic multi-dimensional investor risk management framework' which can be used to identify actions to improve investment risks in a structured manner. The framework addresses four fundamental limitations observed in the existing literature, recognising that RE risks are complex and involve multidisciplinary perspectives having interactions and feedbacks with other risks, actors, and their actions. This review provides a valuable reference to investors, policymakers, and researchers, providing a catalogue of risks, methods deployed in literature, including a framework to identify impactful actions to improve risk levels.

During a period of transition towards decarbonised energy networks, maintaining a reliable and secure energy supply whilst increasing efficiency and reducing cost will be key aims for all energy supply chain (ESC) networks. Renewable energy sources, such as biomass, will play an important role in future ESCs as climate change mitigation becomes an increasingly important priority. This paper seeks to address these requirements by presenting an optimisation model for the design and planning of biomass integration into the ESC networks. A supply chain model was derived and the governing equations were solved using the General Algebraic Modelling System software (GAMS) to achieve an optimal solution. The results of the study indicate that a reduction in the emissions cost of up to 4.32% is achievable on integration of 5–8% of biomass into the ESC network. However, a 4.57% increase in the total cost of the ESC network was recorded at the biomass fraction in the mixed fuel of 7.9%, with the fixed assets cost having the largest impact on the total cost of the ESC network. It has been shown that the cost increment in the assets and operational costs of a biomass and coal co-fired combined heat and power plant can be offset by the cost reductions obtained from reduced carbon dioxide emissions. Economic arguments for dual-fuel plants, therefore, require the introduction of effective carbon pricing legislation. It is concluded that such policy implementations can be effective at mitigating the effects of climate change and would assist in achieving a global carbon neutral economy.