| The power industry is an important industry that affects the livelihood of the nation and is an important pillar of national economic development.Wind power has the advantages of abundant resource reserves,huge potential,friendly to the environment and no pollution,which is in line with the green development strategy proposed by the country.This has led to the rapid and steady development of the wind power industry in China.As the wind power market continues to expand,most domestic wind power companies are in the growth phase of increasing profitability,with more and more of the more profitable wind power companies becoming listed companies.With the market-oriented reform of the national electricity pricing method,wind power companies are being forced to improve their core competitiveness by raising the threshold of subsidy policy,and the future development of wind power companies is overshadowed by a layer of uncertainty.This paper introduces the scenario analysis method in the valuation of wind power generation enterprises,reviews the current research on the scenario analysis method,combines the scenario analysis method with traditional valuation methods,introduces the wind power generation industry,analyses the elements affecting the enterprise value of the wind power generation industry,summarises the steps of applying the scenario analysis method in the valuation of wind power generation enterprises,and finally introduces the case of Three Gorges Energy.Finally,the case of Three Gorges Energy is introduced and the two methods are used to assess the overall enterprise value of Three Gorges Energy,and the possible reasons for the differences in the results obtained are discussed.Finally,through the analysis of the whole paper,it is concluded that(1)the scenario analysis method can demonstrate the future environmental development of an enterprise through multiple scenarios,which is applicable to the valuation of enterprises with large uncertainty in the future;(2)through calculation,the overall enterprise value obtained by the scenario analysis method is approximately $136.3 million,and the overall enterprise value obtained by the income approach is approximately 176.2 billion yuan,and the difference between the two methods is The difference between the valuation results obtained by the two methods was RMB40.9 billion.Finally,the results of the scenario analysis method were chosen as the valuation conclusion of this article,which provides a reference for the valuation of wind power enterprises. |
