Project finance

The environmental performance of companies within the industry is normally subject to the legislative requirements of the host government, but is increasingly becoming scrutinised by the public, as available information and general levels of awareness increase. Major companies see responsible management of the environmental aspects of their operations as crucial to the future of their business. The approval of loans from major banks for project finance is usually conditional on acceptable environmental management. 

Some projects obtain project financing. That is, the parent company does not become liable for the loan. Some have been based on back to back contracts for construction, raw materials, and sales. These usually have the... 

Additional reading on project financing can be found in Reference 1. 

Castle, G. R., A Banker s Approach to Project Finance, Hydrocarbon Processing, March 1978. pp. 90-98. 

Fortunately, there are some simple rules of thumb to apply when considering a ROI analysis. In fact, without even opening a spreadsheet, you can apply some criteria to assessing basic project finance information to assess whether the investment is likely worth the effort. To determine the likelihood of a positive ROI, look at the following factors ... 

Work on various aspects of pectinolysis regulation has been supported in our laboratory by grants from the CNRS and from the Ministere de I Education Nationale, de I Enseignement Superieur, de la Recherche et de I lnsertion Professionnelle. Characterization of the Erwinia pectinases is part of a project financed by the European Community AIR programme (AIR2-CT941345). 

Experiments reviewed in this paper were conducted in connection with projects financed by the North Carolina Agricultural Research Service, North Carolina State University, Raleigh, North Carolina. Paper No. 9305 of the Journal Series of the North Carolina Agricultural Research Service. The use of trade names in this publication dees not imply endorsement by the North Carolina Agricultural Research Service of products named, nor criticism of similar ones not mentioned. The author is indebted to Mrs. Betty Weaver for assistance with the preparation of this paper. 

PROTAP. The project, financed by the National/EU Programme PEDIPII, is aimed at the implementation of an infrastruture for the research and demonstration of low temperature PEMs and new materials for components and testing of operating conditions. 

CALCAS (2006) Coordination Action for innovation in Life Cycle Analysis for Sustainability, a pan-European project, financed by the Sixth Framework Programme of the European Commission. http //www. calcasproject. net/ (last accessed 22 October 2008). 

Within Chapter 6.6.2 the main parameters to be considered for the design of a high-pressure extraction plant have been discussed in detail. In brief mass-transfer and thermodynamic conditions with their related parameters play the most important roles for an optimized process. In this Chapter the influence of such selected parameters, design features, and the kinds of project financing are investigated with a view to production costs and return on investment (R.O.I.). 

Received May 25, 1972. Project financed partly with federal funds from the Environmental Protection Agency, grant R-801070. Contents do not necessarily reflect the views and policies of EPA. Use of tradenames or commercial products does not constitute endorsement. 

The authors are indebted to the Brazilian Research Council (CNPq) and to the Studies and Projects Financing Entity (FINEP) for funding. 

Because implementation of the whole project will take several years, all the related activities should be included into a list of top-priority works since the hazard of further afloat storage of the damaged NSs increases every year. It is also obvious that under the present-day level of the project financing from the Russian Budget funds, its implementation would last for many years. Thus the project support by the whole international community and by individual countries, especially in the Pacific region, would considerably contribute to acceleration of the resolution of this topical problem. 

The majority of independent energy projects which have been promoted in countries such as the UK, which have a non-parastatal electricity supply indushy, have been funded on the so-called project finance basis. Under such an arrangement which was developed originally in connection with North Sea oil projects in the 1960s) the majority (in the region of 80 %) of the finance required to implement the project comprises debt borrowed over a period of, typically, 12-15 years. Bond financing can extend this period to 25 years in certain cases. The debt is repaid from the net revenues of the project. The remainder of the finance required for the project comprises equity provided by the project sponsors. 

In order to provide a vehicle to take the project forward on a project finance basis, a special purpose company is established by the project sponsors. This company (the energy company ) becomes the counter-party to the various agreements for goods and services which, essentially, comprise the project see Figure 2). The primary agreements in a typical renewable energy project are ... 

The D C contract in any project financed on a project finance basis is, invariably, based on a turnkey arrangement, This ensures that a single contractor assumes an undivided responsibility for completion date, final cost and performance of the facility. Liquidated damages are payable by the contractor for delay in completion or shortfall in performance. Such a contract is based on a carefully-written perfoimance specification issued by the project conpany against which the contractor submits a fixed price tender in competition with other contractors. The contract is generally arranged so that the turnkey contractor accepts all the major construction risks. 

Financial structure - Ae funding structure will require a detailed evaluation of Ae capital lequiiement and Ae bdance between equity or ri k capital and loans. The proposed gearing will indicate Ae potential reward for the providers of equity and will also be an important indication in any proposal for project finance of Ae way m which Ae developers have considered Ae allocation of risk. Lenders like to see proposals which show Aat these principles have been understood and will gam confidence m Ae developers if Ac proposed financial structure of Ae project takes them into account. 

See J. Paul Forrester, et al.. Securitization of Project Finance Loans and Other Private Sector Infrastructure Loans, The Financier ACMT, 1994, at 7. 

The IPSEN project [226, 329, 330, 332-334] (Integrated Software Project Support Environment) was a long-lasting research project financed by different sources the biggest contribution has been given by DFG. IPSEN was on novel support of software development, so solely within informatics. The project was carried out from 1981-1996 with a total personal effort of about 110 person years at Chair Informatics 3 (Software Engineering), one of the groups involved in IMPROVE. 

In 2001, a project, financed by EU PHARE program and eompeted by the Slovenian company AMES d.o.o., replaced the existing (sinee the 1980s) network with a new, up-to date air pollution monitoring system. 

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