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Moritz Loock
Title
Prof. Dr.
Last Name
Loock
First name
Moritz
Email
moritz.loock@unisg.ch
Phone
+41 71 224 2586
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1 - 3 of 3
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PublicationDebt For Brands: Tracking Down A Bias In Financing Photovoltaic Projects In GermanyWhat kinds of PV project configurations do lenders prefer to finance? Recent developments in the field of renewable energy project finance have reinforced the need for investigation, as fundraising has become more challenging and project evaluation by banks more demanding. To contribute to the limited research in this field, we focus on photovoltaic projects and report from an Adaptive Choice-Based Conjoint experiment with German experts in project finance. We find a bias which we call "debt for brands". Simulations reveal that debt investors prefer projects with premium brand technology (modules, inverters) to low-cost technology. Although we assumed that lenders prefer projects with the highest Debt Service Cover Ratio (DSCR), they favour projects with lower DSCR, as long as those projects include premium brand technology. We find that, if premium brands were engaged, lenders would also choose projects with higher risk. Our findings have implications for renewable energy project finance in practice and researchType: journal articleJournal: Journal of Cleaner ProductionVolume: 19Issue: 12
Scopus© Citations 21 -
PublicationUnderstanding the Value of Business Models for Renewable Energy : Empirical Evidence from Choice Experiments with InvestorsThe diffusion of renewable energy requires capital. But it is difficult to evaluate renewable energy investments as the renewable energy sector is an entrepreneurial industry (e.g. coined by technological, political and market uncertainty). Thus, traditional evaluation of investment choices is difficult to apply. From preliminary research and interviews with practitioners we assume business models would help to evaluate investment decisions. The business model approach provides a robust qualitative framework and is suitable to evaluate firm potential. To contribute to only limited research in that area we ask: In what business models do top investment managers for renewable energy prefer to invest? We report from choice experiments with top investment managers for renewable energy with important implications for renewable energy managers and research.Type: conference paper
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PublicationDeterminants of Credit Allocation for Photovoltaic Projects : Research Outline and Preliminary Findings from Conjoint Experiments with German Financing Experts(Centre for Sustainability Management, Leuphana University of Lüneburg, 2010)
;Lüdeke-Freund, FlorianType: working paper