MANAGING RENEWABLE ENERGY PROJECTS INCLUDING RISK ANALYSIS

Abstract

The paper makes deep insight into project management and risk analysis of renewable energy sources (RES). This approach could be very helpful in the organizational and managerial approach for project success and investments in RES projects. The intent of the paper is to focus primarily on project management techniques for the purpose of achieving project’s objectives and second on tools for risk assessment of renewable energy projects in order to define and evaluate risks so that they can be adequately mitigated to attract future investment. Particular energy sources – elevated hydropower used in small hydropower plants, and photovoltaic plants are considered in Section 3, as case studies, to identify and explore risk management approach for planning risk response during project implementation. Section 3.1 provides an overview of the major identified risks which include financial, political and operational risks, risks related to human resources and risks associated with renewable energy developments and markets. Discussion and conclusion are presented at the end of the article.