| In recent years,my country’s electricity demand has maintained a general trend of rapid growth,which has led to the gradual deterioration of energy shortages.The traditional power industry structure is dominated by thermal power,and the fuel used is non-renewable,obviously,it cannot meet the current and future development of the power industry’s demand for energy reserves,nor does it conform to the current society’s concept of green economic development.As one of the power generation methods using clean energy,wind power has not only played an important role in alleviating the shortage of power supply and demand,but also has excellent energy-saving and emission-reduction effects,showing huge environmental benefits.At present,with the country’s vigorous development of new energy during the 13 th Five-Year Plan and the14 th Five-Year Plan period,and the goal of “30·60”,the reform of the energy and power supply side is progressing steadily.Companies are going through a critical period of transition from traditional energy to new energy,and more and more investors in the market are beginning to pay attention to the value of wind power companies.However,the existing theories are not perfect in terms of the valuation of such enterprises,especially the potential value such as environmental value is easily overlooked,making the value of wind power generation companies greatly underestimated.Nowadays,the Chinese government advocates vigorously developing wind power.Under this situation,the importance of scientifically and comprehensively assessing the value of wind power companies is self-evident,and it also provides strong theoretical support for the investment decisions of wind power projects and the market transactions of wind power companies.Through the analysis of the characteristics of wind power companies,this article believes that the value of wind power companies is mainly composed of two aspects: the general value created by the current company’s explicit profitability;and the approved installed capacity that measures the company’s future production capacity The potential value of wind power companies composed of the capacity value and the environmental value generated by using wind energy to generate electricity.Based on the above analysis of the value composition of wind power companies,this article uses the income method to evaluate the general value of the company,uses real options to evaluate the potential value,and for the problem of too rigid parameters in the BS model,chooses the underlying asset value and option execution price.Fuzzy improvements were made to finally build a wind power generation enterprise value evaluation model.Through the evaluation and analysis of the value of the case company B Power Development Co.,Ltd.,this paper verifies the applicability of the wind power enterprise value evaluation model improved by fuzzy mathematics,and makes up for the underestimation of wind power enterprise value caused by the traditional income method.The problem of underestimation of corporate value.And the evaluation result can not only give a range value,but also obtain an exact value according to the mean value and other methods.From real options to fuzzy real options,the original single investment point is expanded into a range to provide investors and decision makers with more references. |
