Project structures and financing opportunities for CSP projects
Considering the complexity of CSP projects in terms of engaged actors across the different stages, no business model is identical to the other. In this context, the MUSTEC project team carried out a CSP industry survey, in order to identify the existing business models for CSP structuring and financing opportunities across Europe, providing thus the base for the derivation of new appropriate models.
Overall, it seems that the CSP industry has been forced to make adjustments to its original business models, by adding additional services and covering more stages of the CSP value chain. Moreover, due to the CSP deployment rates, they have been forced to modify their value proposition, by adding other RES technologies. The current conditions are considered mature enough for all CSP value chain phases to be undertaken at a host country, outside EU, partially or fully.
Considering that the revenue, policy and regulatory associated risks and barriers are considered the most important ones, it is expected that the transformation of the electricity market, so that ancillary and balancing services are provided, combined with the carbon emission allowances, will offer additional revenue streams. Moreover, the type of support mechanism offered is not considered as crucial as its stable application. Technical related barriers are not a significant concern for the CSP industry, while for project financiers they are taken into consideration, but are not their primary concern.
Finally, as regards the financing opportunities available at EU level, although currently it is a transition period as we reach 2020, the existing programs as well as the future ones planned are designed so as to support primarily demonstration technologies and First of A Kind (FOAK) projects.
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This article is an output of the EU-funded MUSTEC project.