Проектное финансирование vs.

• Organisation

• Special Purpose

(multiple interests)

Vehicle

(single interest)

• Corporate

• Investors decision,

management decision

but usually no

reinvestments

• Corporate decision

• Agreed in advance

profit sharing,

dividends and

payouts

• Structured, standard

• Unique, specific

• Usually low,

• Relatively high,

(standardised

(unique structures)

mechanisms)

• From small to big

• Usually sizeable (to

justify the high

transaction cost)

• Corporate financial

• Technical, financial,

performance (balance

economic feasibility

sheet, cash flows,

(offtake, supply and

financial ratios)

other agreements,

cash flow, project

assets)