Özet:

Renewable energy sources has gained importance as the world’s energy demand has increased over the years. In many countries, governments have started to give more importance to renewable energy sources in order to supply the growing energy demand. As a developing country, Turkey has also increased energy demand. New investments are needed in the renewable energy sector in order to satisfy this increasing demand. Solar energy has become one of the popular option among all renewable sources due to its widespread availability. Investments to produce solar energy can be feasible options for investors, but the risk factors stemming from the macro environment as well as project level risks should be identified. The objective of this study was to identify the risk factors and their impacts on the cash flow parameters of solar energy investments. To that end, an extensive literature survey is carried out relating to the risk factors of Public Private Partnership (PPP) projects, a survey questionnaire is applied to three different companies, and a Delphi method is used for the reduction process. The results are expected to guide the future solar energy investors in Turkey.

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