我国流域型水电企业融资方式研究

Study on Financing Methods of River Basin Developing Hydroelectric Enterprises in China

在流域型水电企业成为我国水电开发的主要形式的情况下，有效拓宽融资渠道、降低融资成本与风险以及确保企业融资渠道的通畅，将对我国水电行业的发展起到重要的推动作用。本文对我国流域型水电企业现有的融资方式进行了调查和整理，通过对各种融资方式的对比分析以及对流域型水电企业融资阶段的特征分析，指出流域型水电企业的9种常见融资方式各有其适用性，在总结我国流域水电企业的四阶段融资需求的基础上，进一步提出了将各种融资方式联合使用以适合不同阶段融资需求的一般性融资方案。

Nowadays, river basin developing hydroelectric enterprises are playing important roles in hydro power development. It is very important to reduce financial risk and cost as well as remain borrowing ability for the growth of hydroelectric industry. According to the result of industrial investigation, the features of 9 financing methods are analyzed and compared. The result shows that all of the methods are suitable under certain circumstances. Based on the 4 financing stages characters concluded for the hydroelectric enterprises, a general financing pattern which includes all the financing methods is presented.