随着社会经济发展的科学化、环保化程度不断的提升,能源消费结构正在不断 的发生变化,清洁无污染的能源资源逐渐成为驱动社会经济发展的重要动力,其中 最具代表性的就是电力资源的开发与利用。实践生产经验证明电力事业发展的稳定 具有极其重要的经济价值和社会价值,现今无论是国家政府还是民间资本都越来越 重视和关注电力工程的建设投入,投身水电项目的建设成为诸多社会投资资本所亲 睐的对象,尤其是在当下社会资源紧缺、电价飞涨的时代背景下,投资水电项目的 建设具有很强的投资价值,通过参股或者控股的形式继而有效实现自身投资利益的 稳定。本文以益地水电站项目投资可行性为主要研宄对象,在综合借助各类研宄方 法的基础上对其形成客观准确的投资评价,为同类型的项目投资提供科学的意见参 考,推动各类项目建设的顺利发展。 本报告中我主要从四个方面进行分析和研宄。第一部分主要是论述和研宄项目 提出背景以及投资可行性,从整体上对报告结构进行概括和阐述。第二个部分主要 是研究水电建设项目的投资价值,明确项目投资的评价对象,通过项目市场因素分 析、风险因素的管理、建设施工条件的技术水平以及潜在的问题和不足的分析对整 体项目的可行性形成完整的评价体系,多角度、全方位的作出准确科学的评价。第 三个部分则是对益地水电站项目的具体投资环境和条件进行分析和研究,从项目投 资财务评价、投资计划与资金筹措、基础数据、总成本费用、清偿能力、盈利能力 等方面对项目投资可行性具体问题采取有针对性的研究。第四个部分则是侧重对于 投资风险问题以及其潜在的影响因素进行结构化的研究和分析。 在研究的过程中通过收集、整理、分析和研宄益地水电站的相关项目欧亿·体育（中国）有限公司以及 国内相似项目建设信息数据,并有效结合欧亿·体育（中国）有限公司发展的实际情况,对项目投资的额度 以及投资风险进行分析,项目的可行性评价部分通过对项目的必要性评价、建设条 件的评价、市场风险因素的分析以及项目国民经济评估,进而有效的提出向投资策 略,最终通过对资金安全策略、风险识别及退出机制的研宄有效的控制和管理项目 投资风险,为益地水电项目建设工作的顺利幵展提供可靠的参考意见,保障建设目 标的顺利实现以及建设任务的圆满完成。 经过对本项目的细致研宄以及分析,认为益地水电项目的投资可行性较好。项 西南交通大学硕士研究生学位报告 第11页 目采用建设技术、项目设计内容以及预期的市场规模等条件都处于较高的期望值。 关键词:益地水电站项目;投资分析;可行性;风险 西南交通大学硕士研究生学位报告 第M1页 ABSTRACT With the socio-economic development of scientific, environmental degree constantly upgrading, development and changes in energy consumption structure is constantly clean and non-polluting energy resources is becoming an important driving force to drive economic and social development, which is the most representative of power the development and utilization of resources. Practice production experience has shown that the development of the power industry stability extremely important economic and social value, and today both the private capital of the national government or the private sector are more and more attention to the input of the power engineering construction, to join the construction of water conservancy and hydropower project to be a lot of social investment capital are pro-gaze object, especially in the present shortage of social resources, electricity prices soaring era, investment in the construction of water conservancy and hydropower project has a strong investment value, then effectively achieve its own investment in the interests of stability in the form of shares or holding. This paper usefully hydropower project investment feasibility research object, integrated with the various types of research methods on the basis of its investment objective and accurate evaluation, to provide a scientific opinion reference for the same type of project investment, and promote the construction of various projects the smooth development. In this paper, we mainly from four aspects analysis and research. The first part of the main background discussion and research projects as well as investment feasibility to generalize and elaborated, the overall structure of the paper. The second part is mainly to study the investment value of the hydropower construction project, the object of the clear project investment evaluation, analysis, market factors through the project management of the risk factors, the technical level of the building construction conditions as well as potential problems and deficiencies in the analysis of the overall project the feasibility of forming a complete evaluation system, multi-angle, to make the accurate scientific evaluation structure. The third part is usefully hydropower project specific investment environment and conditions analysis and research investment from the project financial evaluation of investment plans and financing, basic data, the total cost, solvency, profitability and other aspects of the project investment feasibility of specific issues to take targeted research. The fourth part is focused on the research and analysis of the structure of the investment risks and the potential impact of factors. 西南交通大学硕士研究生学位报告 第IV页 Through the collection, collation, analysis and research usefully hydropower project information, as well as domestic construction of similar projects, information and data in the course of the study, and effective combination of the actual situation of the development of the industry, to analyze the amount of investment as well as investment risk on the project,the project feasibility evaluation of the need for evaluation of the project, the construction of the conditions of the evaluation, the analysis of the market risk factors, as well as projects of national economy assessment, and then proposed to the investment strategy, and ultimately through the study of the the ftinds security policy, risk identification and exit mechanisms effective control and management of investment risk, provide reliable reference for the construction of hydropower projects work smoothly useftilly opinion, to protect of construction realization of the goal, and the task of building successful completion. After a detailed study of the project as well as analysis, better beneficial hydropower project investment feasibility. The project construction technology, the project design content and the expected size of the market and other conditions in the high expectations. Keywords: Yidi hydropower project; investment analysis; feasibility; risk 讀 西南交通大学硕士研究生学位报告 第V页 目录 第1章绪论 1 1.1项目提出的背景和项目概况 1 1.2建设范围 2 1.3主要技术指标 3 第2章投资项目评价的基本理论 4 2.1投资项目评价的概念 4 2.1.1投资项目评价的基本特征及作用 5 2.1.2投资项目评价的基本意义 5 2.2投资项目的评价内容 5 2.2.1项目的必要性评价 6 2.2.2建设条件的评价 6 2.2.3市场风险因素的分析 6 2.2.4项目国民经济评估 7 2.2.5改进项目潜在问题的对策 7 2.3投资评价报告的编制内容 7 第3章水电业欧亿·体育（中国）有限公司发展分析 9 3.1四川水电欧亿·体育（中国）有限公司的发展现状 9 3.2四川益地建设水电项目的优势 16 3.3当前中小水电产业电发展的情况及其矛盾 18 3.3.1电价与项目投入之间的矛盾 18 3.3.2水电项目投资大、回报利润减少 18 3.4益地输电建设项目的优势以及应该注意的问题 18 3.5 ^ 19 第4章投资益地水电站项目的经济评价 21 4.1益地水电站以及周边环境情况的概况 21 西南交通大学硕士研究生学位报告 第VI页 4.2国民经济评价 22 4.2.1项目投资与费用 22 4.2.2项目效益 22 4.2.3国民经济评价指标 23 4.2.4敏感性分析 23 4.2.4国民经济评价结论 24 4.3财务评价 24 4.3.1投资计划与资金筹措 24 4.3.2基础数据 25 4.3.3总成本费用计算 27 4.3.4发电效益计算 30 4.3.5清偿能力分析 33 4.3.6盈利能力分析 36 4.3.7敏感性分析 40 4.3.8财务评价结论 40 4.4综合评价 41 第5章项目融资方式与运作风险评价 42 5.1融资方式分析 42 5.1.1资本金和银行贷款 42 5.1.2 BOT 融资 43 5.2项目的风险和规避 45 5.2.1项目在建设风险 45 5.2.2风险的控制措施 45 5.3资金安全策略 46 ^ 47 IS; m 48