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| Title: | 壽險業投資離岸風力發電可行性分析
Feasibility Analysis of Offshore Wind Farm Investment for Life Insurer |
| Authors: | 蔡瑞紘
Tsai, Jui-Hung |
| Contributors: | 張士傑
蔡瑞紘
Tsai, Jui-Hung |
| Keywords: | 再生能源
離岸風力發電
現金流分析
壽險業
投資策略
Renewable energy
Offshore wind power
Cashflow analysis
Life insurance industry
Investment strategy |
| Date: | 2023 |
| Issue Date: | 2023-09-01 16:06:51 (UTC+8) |
| Abstract: | 本研究選定台灣第19號離岸潛力風場場址作為研究標的，透過美國太空總署 (NASA) 1980年至2016年每小時平均風速資料模擬離岸風力發電場長期發電收益。同時假設重要成本參數模擬現金流，分析台灣離岸風電場開發是否為壽險公司合適之投資標的，並對法規與政府政策提出建議。基本情境假設結果顯示，投資海龍2A風場之NPV為新台幣1.76億元，IRR為6.63%，DPP為19.51年，SLR為0.959倍。
敏感度分析結果顯示，降低債務成本、提高財務槓桿、提升發電量參數或控制建造與運維成本皆能提升專案整體投資價值。其中，調整財務槓桿、發電量以及建造與運維成本對於財務評估結果有明顯改善。此外，海龍2A風場長期發電量相對穩定，適合壽險業資產配置需求。綜上所述，海龍2A風場確實是適合壽險進一步考量的投資標的。
This study selected 19th Taiwan`s offshore potential wind farm site as the research target, aiming to simulate cash flows of the offshore wind farm so as to access feasibility of investment for life insurers. NASA wind speed data from 1980 to 2016 were collected and used to estimate the long-term power generation revenue of the offshore wind farm. Subsequently, important cost parameters were assumed as well. In the base scenario, the cash flow simulation results showed an NPV of NTD 176 million, an IRR of 6.63%, a DPP of 19.51 years, and an SLR of 0.772 times.
The sensitivity analysis revealed that increasing the financial leverage, increasing the power generation or deducting the installation and O&M costs significantly improved the financial assessment results. In addition, the long-term power generation of the offshore wind farm is stable and suitable for the asset allocation needs of life insurers. In conclusion, it is feasible that life insurance companies take the offshore wind farm into consideration as parts of their portfolio. |
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| Description: | 碩士
國立政治大學
風險管理與保險學系
110358015 |
| Source URI: | http://thesis.lib.nccu.edu.tw/record/#G0110358015 |
| Data Type: | thesis |
| Appears in Collections: | [風險管理與保險學系] 學位論文
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