Onshore wind farms: value creation for stakeholders in Lithuania

Abstract

With the costs of fossil fuel consistently rising wor1dwide over the last deoade, the development of green technologies has become a major go al in many countries. Therefore the evaluation of wind power projects becomes a very important task. To estimate the value of the technologies based on renewable resources also means taking into consideration social, economic, environmental, and scientific value of such projects. This article deals with economic evaluation of electricity generation costs of onshore wind fanus in Lithuania and the key factors that have influence on wind power projects and offer a better understanding of social-economic context behind wirid power projects. To achieve these goats, this article makes use of empirical data of Lithuania's wind power farms as well as data about the investment environment of the country. Based on empirical data of wirid power parks, the research investigates the average wind farm generation efficiency in Lithuania. Employing statistical methods the retum on investments of wind farms in Lithuania is calculated. The value created for every party involved and the total value of the wind farrn is estimated according to stakeholder theory.