The Optimization Analysis Of The Large Cascade Hydropower Station's Financing Combination In The Rolling Development

With the development of the large cascade hydropower station, the problem of financing is more and more prominent. The paper systematically studies large-scale hydropower enterprise financing pattern in the world, and proposed those patterns which suit the large-scale hydropower enterprise, such as bank loan, international finance organization financing, exportation credit, enterprise bonds and stocks and ABS. Based on trade off theory and pecking order theory, the article builds the large-scale hydropower financing optimization model. Comparing with different financing combination plan's financing costs and testing those by NPV, the financing combination plan which is met the enterprise long-term benefits can be found.