Research On Investment Risk Of Overseas Thermal Power BOT Projects

Under the environment of overheating and supply side reform in China,along with the national strategy of "the Belt and Road" and "Go Global",many enterprises in the energy industry of China mainly focus on the overseas market,especially those in developing countries and regions where electricity infrastructure is relatively lacking.Southeast Asia,such as Indonesia,has brought about rapid development of overseas thermal power projects.Overseas investment in thermal power projects has a high amount of investment,which will be transferred to the government free of charge after 20 years of concession operation.Therefore,great attention must be paid to the risk management of investment decision-making,financing,construction,operation and other aspects of the project,especially the risk management in the investment decision-making stage.This paper combines the characteristics of thermal power projects to carry out the risk management research on the investment decision-making stage of overseas BOT thermal power projects.Firstly,this paper investigates the present situation of risk management of overseas thermal power project investment and overseas investment in China,and combs the research results of experts and scholars at home and abroad in related fields.It is found that although the theoretical results of risk management are very rich,there are not many researches on risk management of overseas BOT thermal power investment decision-making stage.It is necessary to strengthen risk management in its investment decision stage.Secondly,on the basis of theoretical research,this paper combs the risk identification method of project investment and its applicability.Combining with the characteristics of overseas thermal power BOT projects,based on the initial investment risk list of overseas thermal power BOT projects,29 investment risks of overseas thermal power BOT projects are identified by expert interview method,and risk countermeasures are put forward.Finally,based on a practical case of a thermal power BOT project in Vietnam,combined with the project background,shareholder structure,plant conditions and other conditions,17 investment risks of the case project are identified by expert interviews.In view of the six different types of investment risks,this paper puts forward corresponding risk countermeasures.In this way,according to the ideas of finding problems,analyzing problems and putting forward solutions,a set of investment risk identification methods and investment risk response strategies with strong operability for overseas thermal power BOT projects are explored,which can provide reference for Chinese enterprises to "go out" to carry out overseas thermal power BOT project investment.