How to use PPP mode for the hottest incremental di

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How can incremental distribution and photovoltaic power stations use PPP mode

Public privatepartnership (PPP) is an institutional innovation in which social capital cooperates with government departments to jointly participate in the investment and operation of infrastructure and public utility projects. PPP originated in the UK. Its primary purpose was to enrich infrastructure financing channels and improve the efficiency of infrastructure supply. It was widely used in transportation fields such as highway and railway construction. With the gradual expansion of PPP financing function, it has gradually covered most public goods and services

in recent years, PPP mode has developed vigorously in China. At present, PPP mode has been widely used in transportation facilities such as roads, railways, airports and urban rail transit, public service projects such as medical treatment, tourism, education and training, health care and elderly care, as well as projects such as water conservancy, resource environment and ecological protection. By the end of 2016, the PPP comprehensive information platform project library of the Ministry of Finance showed that the total number of PPP reserve projects in China has exceeded 13 trillion, and the total number of warehousing projects has exceeded 10000, showing a gradually accelerating growth trend

the power sector has large investment scale and long-term stable demand. Expanding the financing channels of PPP mode and introducing the mechanism of innovating the import amount of social capital of US $66.79 million will play an important role in promoting the allocation of resources by market mechanism and improving the level of public services in the energy field

the characteristics and applicability of PPP mode

the typical characteristics of PPP mode are mainly reflected in the following aspects:

partnership. The essence of PPP mode is a process of cooperation between government and social capital based on contract. The rights, obligations, risk sharing and benefit compensation of both parties are clearly defined in contract

in this cooperation process, the government and society will restore the experimental machine to its original state. Capital is an equal subject and a "partnership"

benefit sharing. PPP projects are all public welfare projects with equal emphasis on economic and social benefits. The public sector and social capital are not simply sharing profits. It is necessary to control the excess profits that may be formed by the social capital such as the private sector and private enterprises participating in the project, but also to ensure a certain rate of return and give them a relatively long-term and stable return on investment

risk sharing. The tolerance of mold manufacturing corresponding to precision technology in the public sector is the tolerance of No. 4. The characteristics of social capital's reasonable risk sharing are a significant sign that PPP mode is different from other forms of transactions. The public sector should bear the potential associated risks of its own advantages as much as possible, while social capital should bear more or even all specific management responsibilities according to its comparative advantages. Minimize the overall risk through risk sharing between both parties

from the perspective of operation mode selection, PPP operation mode can be divided into three categories: operational projects, quasi operational projects and non operational projects. Among them, operational projects generally have a clear charging basis, and the operating charges can fully cover the investment cost. Most of them adopt the construction operation transfer (BOT), construction ownership operation transfer (boot) and other modes to promote; Quasi operational projects often do not charge enough to cover investment costs, and some funds or resources still need government subsidies. Generally, the government grants franchise rights with partial subsidies or direct investment and equity participation, and establishes a collaborative mechanism of investment, subsidies and prices to actively create conditions for investors to obtain reasonable returns. Non operating projects lack the basis of "user payment" and mainly rely on the government to purchase services to recover investment costs

according to the guidance document of the Ministry of finance, PPP mode is suitable for projects with relatively flexible price adjustment mechanism, relatively high degree of marketization, relatively large investment scale, long-term stable demand and other characteristics. At present, PPP projects mainly adopt the operation mode of operational projects, that is, directly charge fees from end users to recover the construction and operation costs of the project and obtain reasonable income

characteristics and applicability of PPP mode

since 2016, the national development and Reform Commission, the energy administration and other departments have issued a series of documents such as the notice on actively promoting the cooperation mode between government and social capital in the field of energy, encouraging and guiding social capital to invest in energy, electricity and other fields, and promoting the application of PPP mode

among them, oil and natural gas projects mainly focus on the main/branch lines of oil and gas pipelines, urban gas distribution pipelines and urban gas storage facilities, liquefied natural gas (LNG) terminals, oil and natural gas storage facilities and other fields; Power and new energy projects, focusing on the promotion of power supply/urban distribution construction and transformation, rural power transformation and upgrading, transmission projects with clear asset interface, incremental power distribution, charging infrastructure construction and operation, distributed energy generation projects, micro power construction and transformation, smart power projects, energy storage projects, power substitution projects and other fields. The author carries out exploratory analysis in combination with incremental distribution, photovoltaic power stations and other fields

(1) the application of PPP mode in the field of incremental distribution

the field of incremental distribution is an important entry point for China's power system reform, with a large demand for funds. According to the action plan for power distribution construction and transformation () of the national energy administration, the cumulative investment in China's power distribution during the "13th five year plan" period is not less than 1.7 trillion yuan. In November 2016, the National Energy Administration released the list of the first batch of 105 incremental distribution reform pilots. Due to the good expected income, especially the incremental distribution projects in some industrial parks, they are very attractive

from the perspective of the project implementation agencies, the guiding opinions on the cooperation between government and social capital and other documents make it clear that the implementation agencies of incremental distribution PPP projects can be local energy management departments, as well as relevant units entrusted by local governments, such as economic development zones, industrial park management committees, etc

the investment participants of the project mainly include traditional power enterprises and power generation enterprises, park companies such as high-tech industrial parks and economic and technological development zones, power construction enterprises such as China Power Construction and China energy construction, power equipment suppliers extending to the downstream distribution field, and social capital interested in power system operation business. Common faults: when doing the tensile test,

from the perspective of process, first, the government authorizes the local energy management department to work with relevant departments to be responsible for the preliminary evaluation and demonstration of PPP projects, project selection and implementation plan preparation; Secondly, scientifically select investment participants with management experience, professional strength and good credit status as partners to sign PPP contract agreements; The investment participants further choose to jointly set up a project company (SPV) with the government departments based on equity investment, equity participation and dividends, so as to provide services to users for the investment, construction and operation of incremental distribution projects. After the expiration of the project cooperation period, transfer the project assets to the government designated institutions, or only choose to own the right of investment income, and independently sign an entrustment agreement with the power sales company. The specific power distribution operation right is entrusted to the power enterprises or qualified power sales companies

the project income of the participants mainly comes from the income of distribution fees and the value-added services provided for various users. On the one hand, based on the calculation of allowable cost plus reasonable income, the distribution fee is charged according to the distribution price approved by the government; On the other hand, we can further expand services such as intelligent power consumption, user contract energy management, and intelligent integrated energy services such as power supply, cooling and heating, and open up new sources of income. In addition, it can also be made clear in some PPP project agreements that when the end-user payment at the initial stage of operation is insufficient to meet the social capital or the cost recovery and reasonable return of the project company, the government will give a certain workability gap subsidy in the form of financial subsidies, preferential loans and other preferential policies

(2) application of PPP mode in the field of photovoltaic power station

in the process of investment and construction of some new energy projects, we can also try to effectively combine PPP mode and EPC mode of project construction, and build ppp+epc mode as a new financing management mode for the construction of new energy power generation projects. In recent years, EPC project mode has been widely used in new energy power generation projects with its advantages of high investment efficiency, low total cost and guaranteed project duration. However, due to the large amount of investment required for such projects, there is an urgent need for project financing. Therefore, considering the introduction of PPP mode financing on the basis of EPC mode, it is conducive to broaden financing channels, give full play to the general contractor's project management experience, and at the same time, multi-party participation to reduce investment risks, so as to achieve complementary advantages and win-win results

based on the perspective of project life cycle, the integration of these two project management modes in time stage, work content and stakeholders determines the feasibility of the combination of the two. In this mode, the main body of the project includes government departments, the owner and the general contractor. Among them, the government department, as the initiator, cooperator and supervisor of the project, determines the owner as the project investor and the general contractor as the project contractor through bidding; The general contractor adopts EPC mode for project management during construction

under ppp+epc mode, it mainly involves three stages: preliminary preparation, construction and operation handover. Take the photovoltaic power station project as an example. In the early preparation stage of the project, local government departments initiate the project, participate in it as partners and supervisors, and use the PPP model to introduce social investors to participate in the project construction with the support of policies, which can alleviate the financial pressure of the government; Investors invest in the project with their own capital and financing capital as the owner of photovoltaic power generation projects. In the project construction stage, the owner selects the general contractor to carry out the project construction by means of bidding. The general contractor is generally responsible for the duration, quality and cost of the project, and coordinates all parties to carry out project management and deal with unexpected problems in the construction process; Finally, in the project operation handover stage, the owner is responsible for the operation and maintenance after the project is put into operation, and provides consumers with power products and related services

in general, PPP mode has broad development prospects in the field of energy and power infrastructure. However, in the process of participating in PPP, the potential risks and challenges can not be ignored. In some PPP projects, a series of risks still exist due to the delay of government approval, the lengthy decision-making process, and the uncertainty of market returns. For example, in the field of incremental power distribution, PPP projects and new large-scale industrial parks may face a lengthy government approval process. In addition, the overall settlement rate of the park may be low due to the unsuccessful investment attraction, which makes the power distribution investment face the risk of market demand fluctuations. Opportunities and challenges coexist, and it is more necessary to boldly try and operate prudently, establish a scientific risk sharing mechanism, improve the decision-making process, and carefully prevent all kinds of risks while expanding profits

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