<div class="csl-bib-body">
<div class="csl-entry">Magyar, M. (2023). <i>Repowering of wind power plants</i> [Master Thesis, Technische Universität Wien]. reposiTUm. https://doi.org/10.34726/hss.2023.117372</div>
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dc.identifier.uri
https://doi.org/10.34726/hss.2023.117372
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dc.identifier.uri
http://hdl.handle.net/20.500.12708/194985
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dc.description.abstract
The aim of this thesis is to provide an insight into the financial attractiveness of repowering a wind farm, which is nearing its approximate end of turbine lifetime. An industry standard financial viability calculation using the Net Present Valuemethodology is performed which is then expanded on by applying Real Option Analysis to the problem, with the intention of adequately capturing the true value of a to be repowered windfarm. By focusing on an existing wind farm in Austria, it is shown that due to the historic policy design, repowering will become an increasingly relevant issue in the country’s wind energy market.Thus, actors in the industry are confronted with upcoming managerial decisions, which the Real Option Approach adequately includes in its methodology. The calculation exhibits a clear indication that, under the preset input parameters, are powering decision before the end of turbine lifetime is the most financially rewarding decision.
