Abstract
Pursuant to European legislative and energetics trends, Croatia must significantly increase the number of renewable energy sources in the electrical energy system. Wind power plants are among the most attractive on the market. Since the European experiences of the development, construction and utilization of power plants predominantly employ the project financing model, it is necessary to establish a framework for the analysis of the financial profitability of investments in the construction of a wind power plant. Moreover, in order to increase the security of such investments, a rapid and efficient system is required for the analysis of the investment risks of the project in order to reduce them on the planning or acceptable economic levels. With these goals, a model for the financial evaluation of wind energy power generation projects is presented, together with the elements of the risk analysis employed. The data used are from a project for a wind power plant with a power rating of 18 MW, which is planned for construction on the territory of Zadar County in the environs of Benkovac. In cases where there are no reference documents for Croatia, data and experiences from European projects are used.
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