Análisis económico financiero del sector de la energía eólica

Abstract

ABSTRACT: Nowadays, the world wind energy has had an important development in the last years in spite of the economic crisis we are going through. Cost reduction has helped to improve the profitability, thanks to economies of scale and the creation of new projects. Currently, our country is in the fourth position leading the electricity generation with wind energy. However, it has been estimated that this increase will be reduced not only because of the cutbacks, but also due to the elimination of aids. Wind energy has advantages and disadvantages which can be environmental, economic and technical. The main advantages are: - It is a renewable and non-polluting source. - A lot of direct and indirect jobs have been created thanks to this energy. On the other hand, the main disadvantages are: - The visual impact associated with wind turbines. - The power generated in the wind parks cannot be stored so far. Generally speaking, wind energy can be either earthly or marine. In addition, in Spain this sector is divided in: advancement of wind parks and electricity generation, fabrication of wind turbines, fabrication of components and services. The economic and financial analysis carried out deals with companies which work developing wind parks and electricity generation in Spain from 2010 to 2012. This analysis is based in a sample of 180 companies that meet the requirements above mentioned. This sample has been evaluated through nine ratios: liquidity, working capital, solvency, plough back, volume of sales, EBITDA, net profit, ROI, ROE and financial gearing. The principal target of this research is to know better the characteristics of this sector. To continue, I will start analyzing the current situation (three levels: worldwide, European, and national), the sample chosen for the economic and financial analysis and its future situation.