Research On The Theory And Application Of Project Financing Lease In Grid Engineering

With the faster development of power supply construction in China in recent years, the grid construction has lagged far behind of power supply, causing unprecedented"bottleneck"of power transmission in different degrees. In order to speed up grid construction, the shortage problem of grid construction capital must be resolved as soon as possible. Therefore, reforming the present financing modes in grid construction and promoting a various capital into grid construction have been not only the subject of theoretical research, but also the real demand in our grid enterprises.This dissertation researches on the theory and application of project financing lease in grid engineering, which proposes a strong practical significance to innovate grid engineering financing mode, widen financing source and introduce various capital in grid investment. Furthermore, there provides theoretical analysis framework and method direction for propelling financing lease into other infrastructure facilities industries, promotes the application of financing lease in infrastructure facilities construction and expands the market segments of financing lease through analyzing and researching on project financing lease in grid engineering.The dissertation mainly researches on the theory and application of project financing lease in grid engineering in micro-level angle, and gives a theory analysis framework and application method and model of developing in grid engineering project based on the benefit of lessor. Its main achievements are as follows:The dissertation proves that it is feasible to apply project financing leasing to grid engineering. It also establishes the operation modes and operation flow of grid project financing lease combining with the grid engineering characteristics, and provides a direction for the financing lease enterprises to develop such projects.On behalf of the lessor, the dissertation establishes indicator system of evaluating financing lease project's feasibility and a fuzzy-extension evaluating model based on entropy weight theory to synthetically evaluate feasibility of investment, which provides lessor with a complete set of systemic appraisals method to choose grid project investment. The dissertation also establishes the multi-level evaluating indicator system of risk in operation period and a fuzzy comprehensive evaluation model based on rough set theory to help lessor to appraise the risks in the project financing lease operation period.The dissertation researches on the method to determine basic return rate of grid construction financing lease project, then figures out the basic return rate in several kinds of common capital structures, which can provide a basis for the lessor on the negotiation over lease expense rate. Furthermore, it establishes the optimal mathematical model of rent repayment, and exemplifies the relationships among rental income, lease period and lease expense rate through using the equality corpus, the equality annuity and ratio increasing annuity methods, which can present evidence of the lessor's decision-making on the choice of the rent repayment mode, lease period and lease expense rate.This dissertation develops a work flow management system of project financing lease based on Multi-Agents, which can enhance the information management levels of project financing lease practice. It designs some support instrument software such as"the Analysis Hierarchy Process(AHP) Evaluation Software of the Dynamic Defined Hierarchy and Indices"and"the Software of Rent-calculating and Decision-making"to provide an assistant support for decision-making.