A public private partnership can be an effective approach to deal the projects with modern agricultural development in Sub Saharan Africa. A former financial analysis of a development project, carried out by the authors, showed that public and private partners can effectively join in a mutually satisfactory venture capital. The same project is now complemented with a bankability study, considering lenders options, equity allocation, collaterals and likely applicable interest rates, available cash flow and sustainable debt service repayment to provide a through financing scenario for each partner’s perspective assessing the relevant Debt Service and Loan Life Cover Ratios. Cash flow and interest rates fluctuation impacts are eventually investigated with a sensitivity analysis to prove the robustness of the proposed scenario.
African Development Bank Group (2018): Lending Rates. Available at https://www.afdb.org/fileadmin/uploads/afdb/Documents/Financial-Information (accessed Apr 10, 2018).
Bayar O., Chemmanur T.J., Banerji S. (2016): Optimal Financial and Contractual Structure for Building Infrastructure using Limited-Recourse Project Financing. SSRN. Available at https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2795889 (accessed Jan 20, 2018).
Biondi Tommaso, Moretto Michele (2015): Solar Grid Parity dynamics in Italy: A real option approach. Energy, 80, 293-302. https://doi.org/10.1016/j.energy.2014.11.072
Blanco María Isabel (2009): The economics of wind energy. Renewable and Sustainable Energy Reviews, 13, 1372-1382. https://doi.org/10.1016/j.rser.2008.09.004
Brealey Richard A., Cooper Ian A., Habib Michel A. (1996): USING PROJECT FINANCE TO FUND INFRASTRUCTURE INVESTMENTS. Journal of Applied Corporate Finance, 9, 25-39 https://doi.org/10.1111/j.1745-6622.1996.tb00296.x
Campisi Domenico, Morea Donato, Farinelli Elisa (2015): Economic sustainability of ground mounted photovoltaic systems: an Italian case study. International Journal of Energy Sector Management, 9, 156-175. https://doi.org/10.1108/IJESM-04-2014-0007
Campisi D., Gitto S., Morea D. (2016): Effectiveness of incentives for wind energy: models and empirical evidences from an Italian case study. Journal of Sustainability Science and Management, 11: 39–48.
Campisi D., Gitto S., Morea D. (2017): Light Emitting Diodes technology in public light system of the Municipality of Rome: An economic and financial analysis. International Journal of Energy Economics and Policy, 7: 200–208.
Campisi Domenico, Gitto Simone, Morea Donato (2018): Economic feasibility of energy efficiency improvements in street lighting systems in Rome. Journal of Cleaner Production, 175, 190-198. https://doi.org/10.1016/j.jclepro.2017.12.063
Campisi D., Gitto S., Morea D. (2018b): An evaluation of energy and economic efficiency in residential buildings sector: A multi-criteria analysis on an Italian case study. International Journal of Energy Economics and Policy, 8: 185–196.
CORIELLI FRANCESCO, GATTI STEFANO, STEFFANONI ALESSANDRO (2010): Risk Shifting through Nonfinancial Contracts: Effects on Loan Spreads and Capital Structure of Project Finance Deals. Journal of Money, Credit and Banking, 42, 1295-1320. https://doi.org/10.1111/j.1538-4616.2010.00342.x
Esty B.C. (2003): The economic motivations for using project finance. Harvard Business School, 28: 1–42.
Esty B.C. (2004a): Modern Project Finance, a Case Book. John Wiley & Sons, Hoboken.
Esty Benjamin C. (2004): Why Study Large Projects? An Introduction to Research on Project Finance. European Financial Management, 10, 213-224. https://doi.org/10.1111/j.1354-7798.2004.00247.x
Esty B.C., Chavich C., Sesia A. (2014): An overview of project finance and infrastructure finance – 2014 update. Harvard Business School Industry Background Note, 214–083.
Gatti S. (2013): Project Finance in Theory and Practice – Designing, Structuring, and Financing Private and Public Projects. 2nd Ed. Academic Press Advanced Finance, Elsevier, Amsterdam.
Kjærland Frode (2007): A real option analysis of investments in hydropower—The case of Norway. Energy Policy, 35, 5901-5908. https://doi.org/10.1016/j.enpol.2007.07.021
Monjas-Barroso Manuel, Balibrea-Iniesta José (2013): Valuation of projects for power generation with renewable energy: A comparative study based on real regulatory options. Energy Policy, 55, 335-352. https://doi.org/10.1016/j.enpol.2012.12.019
Morea D., Poggi L.A. (2016): Islamic finance and renewable energy: an innovative model for the sustainability of investments. Proceedings AEIT International Annual Conference (AEIT), IEEE Conference Publications: 1–7.
Morea D., Poggi L.A. (2017): An innovative model for the sustainability of investments in the wind energy sector: The use of green sukuk in an Italian case study. International Journal of Energy Economics and Policy, 7: 53–60.
Morea Donato, Balzarini Marino (2018): Financial sustainability of a public-private partnership for an agricultural development project in Sub-Saharan Africa. Agricultural Economics (Zemědělská ekonomika), 64, 389-398 https://doi.org/10.17221/161/2017-AGRICECON
Muzathik A.M., Ibrahim M.Z., Samo K.B., Wan Nik W.B. (2012): Assessment and characterisation of renewable energy resources: A case study in Terengganu, Malaysia. Journal of Sustainability Science and Management, 7: 220–229.
Pinto J.M., Alves P.P. (2016): The choice between project financing and corporate financing: evidence from the corporate syndicated loan market.. SSRN., ,
Sgroi Filippo, Tudisca Salvatore, Di Trapani Anna, Testa Riccardo, Squatrito Riccardo (2014): Efficacy and Efficiency of Italian Energy Policy: The Case of PV Systems in Greenhouse Farms. Energies, 7, 3985-4001. https://doi.org/10.3390/en7063985
Squatrito Riccardo, Sgroi Filippo, Tudisca Salvatore, Trapani Anna, Testa Riccardo (2014): Post Feed-in Scheme Photovoltaic System Feasibility Evaluation in Italy: Sicilian Case Studies. Energies, 7, 7147-7165. https://doi.org/10.3390/en7117147