Energy Markets and Financial Investments
Full Time// 2nd Semester, Course Code: ΜΕΧΡΗ320
Part Time // 2nd Semester, Course Code: ΜΕΧΡΗ-Μ320
Credits: 6
Learning Outcomes
The “Energy Markets and Financial Investments” course examines how energy markets operate and their linkages to sources of financing.
After successful completion, students are expected:
- To acquire the necessary competitive skills for an entry level position in the sector.
- To understand the challenges and possibilities of the local and international ecosystem of energy project financing.
- To learn how to learn autonomously, in order to stay updated and competitive with the sector’s current developments.
General Competences
- Search for, analysis and synthesis of data and information, with the use of the necessary technology.
- Decision-making.
- Working in an international environment.
- Production of free, creative and inductive thinking
Course Content
This course aims at introducing students to the operation of energy markets and their links to capital markets as sources of financing. It will be approached on an investment possibilities taxonomy generalization, which will allow analyzing a plethora of energy projects such as renewable (solar, wind), their valuation, and their methodological challenges in assessing various costs and the nature and development of the relevant risks. Furthermore, we will discuss the day to day operation of various energy and carbon emissions products and the relevant financial instruments available for hedging such risks.
The course is mainly addressed to students that are wishing to join or are already working at an entry level in financial institutions that finance energy projects and in corporations that are involved in the construction, production or distribution of energy. Putting theory into practice will be achieved through various case studies. These will significantly assist in providing perspectives in the complex ecosystem of energy markets and projects and how they are implemented through real world examples.
We will focus on the analysis and implementation of financing energy projects that have been constructed or are planned for the near future in Greece, as well as the special instruments that were designed for their implementation. Such projects include natural gas pipelines (TAP, EastMed), underwater distribution electric cables (Ariadne, EuroAsia Interconnectors), LNG Terminals (π.χ. Revithoussa, FSRU Alexandroupolis). Also renewable, such as hydro and pumped storage (Amphilochia), wind, solar, offshore wind, energy storage and stabilization, decarbonisation (Megalopoli) and electrification.
Student Performance Evaluation
Students will be evaluated on weekly case studies and their discussion in class (60%) and a team project on the financing on an energy project, including a short presentation (40%).
Bibliography
Suggested Bibliography
- Teacher’s notes (eclass.unipi.gr)
- Robert C. Higgins (2001). Analysis for Financial Management, Sixth Edition, McGraw-Hill.
- John D. Finnerty (2007). Project Financing: Asset-Based Financial Engineering, 2nd Edition, John Wiley & Sons, Inc.
- Jim DeMello (2005). Cases in Finance, 2nd Edition, McGraw-Hill/Irwin
- Keohane and S. Olmstead (2007). Markets and the Environment, Washington, DC: Island Press.
- Global Energy Assessment – Toward a Sustainable Future, Cambridge University Press, 2012
- Congressional Budget Office, ‘The Economics of Climate Change: A Primer,” US Congress, Washington, DC. April 2003
Related Academic Journals
Master of Science (M.Sc.) in
«Banking and Finance»
Specialization in
«Banking and Financial Management»