The distribution function of the present value of a cash fl ow can be approximated by means of a distribution function of a random variable, which is also the present value of a sequence of payments, but has a simpler structure. The corresponding random variable has the same expectation as the...

Obtaining external financing for windfarms may be hindered over the next few years by the high degree of uncertainty that is inherent in these types of project. Therefore, promoters must carefully plan and analyse their projects and attempt to optimise the profitability/risk factor of each...