Available online at ScienceDirect. Procedia Engineering 178 (2017 )

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1 Avalable onlne at ScenceDrect Proceda Engneerng 178 (2017 ) th Conference on Relablty and Statstcs n Transportaton and Communcaton, RelStat 2016, October, 2016, Rga, Latva Rsk Management n Implementng Wnd Energy Project Yur Rolk* a Transport and Telecommuncaton Insttute, 1 Lomonosova ela, Rga, LV-1019, Latva Abstract Analyss of possble rsks n the process of mplementng a specfc project has been carred out, measures to reduce ther negatve mpact on the project have been developed and proposed. The object of study s a wnd energy project, namely a wnd farm workng as part of the natonal energy system. The mplementaton of the project s related to both external and nternal rsk factors that are characterstc to such projects n the real economy sector under the current condtons. Such rsks have been classfed and the fractonal structure of rsk adjustment has been analysed takng nto account the propertes of the partcular wnd energy project, whch conssts of three man components. A descrpton has been gven of the nnovatve technology selected for project mplementaton, power generaton usng wnd, whch s used to lmt the negatve nfluence of the abovementoned rsks. The current strategc management tools, such as SWOT analyss and McKnsey matrx, whch are useful for the dentfcaton of project rsks, have been examned. For the wnd energy project that s beng mplemented, the project dot locaton coordnates were determned n the McKnsey matrx on axes: Advantages aganst compettors and Market attractveness. Also, a sector charactersng the project development prospects was establshed to be subsequently used as a tool for rsk dentfcaton. Followng the dentfcaton of rsks, specfc measures of state support and specal project management measures were developed and proposed to be mplemented wth the am of lmtng the negatve nfluence of the possble project rsks The Authors. Publshed by Elsever by Elsever Ltd. Ltd. Ths s an open access artcle under the CC BY-NC-ND lcense ( Peer-revew under responsblty of the scentfc commttee of the 16th Internatonal Conference on Relablty and Statstcs n Peer-revew Transportaton under and responsblty Communcaton. of the scentfc commttee of the Internatonal Conference on Relablty and Statstcs n Transportaton and Communcaton Keywords: rsk management, wnd energy project, swot analyss, mcknsey matrx, project rsks * Correspondng author. E-mal address: rolk@ts.lv The Authors. Publshed by Elsever Ltd. Ths s an open access artcle under the CC BY-NC-ND lcense ( Peer-revew under responsblty of the scentfc commttee of the Internatonal Conference on Relablty and Statstcs n Transportaton and Communcaton do: /j.proeng

2 Yur Rolk / Proceda Engneerng 178 (2017 ) Introducton The rsk of the wnd energy project (Konechenkov, 2012; Rolk, 2008), as well as the rsk of any other project s some unspecfed mpact or condton that, n the case of occurrence, has an (postve or negatve) mpact on the project (or on one of the project objectves), thus on ts cost, scope or qualty. And the wnd energy project rsk management ncludes the processes assocated wth dentfyng, analysng and respondng to project rsks n order to ncrease the probablty and degree of mpact of postve rsks and to reduce the possblty and mpact of negatve events wthn the project. In addton, t should be borne n mnd that the closer the project s to ts completon, the more reduced the possblty of the occurrence of rsks s, as well as the possblty of nfluence on the course of the project and ts results. The man purpose of the rsk management cycle s preparaton for the occurrence of rsks, namely rsk management plannng. In order to have the opportunty to plan rsk management, t s necessary to dentfy these rsks. After that, t s possble to carry out qualtatve and quanttatve rsk analyss. Once ths stage of the cycle s passed, t s possble to plan response measures to rsks and then the montorng and control of rsks. Thus, the project rsk management procedure les n that fact that n the analyss process, nvolvng the detecton and assessment of rsks, comparng ther effectveness, t s necessary to defne a method of mpact. Then, after makng a decson to carry out an mpact on the rsk, t s necessary to carry out subsequent control of the mpact results. All currently known methods of mpact on rsk are mplemented n three ways: by way of reducton, retenton or transfer (Yelstratov et al., 2010). Among these methods, reducton s consdered to be the most acceptable method. In turn, the most favourable result of reducton s the complete elmnaton of rsk,.e. preventon of t (Yelstratov et al., 2013). If such mpact on rsk s appled, efforts are made to mplement the process as retenton wthout addtonal fundng. If ths cannot be avoded, the provson s made for plannng the use of funds accumulaton, whch s called self-nsurance, or for the attracton of external fnancal resources n the form of varous loans and grants. Fnally, a type of mpact on rsk such as transfer makes provsons for comprehensve project nsurance. Under ths approach, the rembursement of all possble fnancal expenses, caused by the damage, s passed on to the nsurance company (Rolk and Gornostay, 2015). In the future the provson wll be made for consderaton of the mpact on rsk usng the frst method reducton by analysng potental rsks arsng n the mplementaton of the specfc project, and the development of measures amed to reduce ther negatve mpact on the project. 2. Object of research 2.1. Descrpton of wnd energy project The wnd energy project, whch s a wnd park, operatng wthn the state energy system, s consdered to be the object of research. To begn mplementaton of ths project, t wll be necessary to obtan all of the necessary permts and approvals from local governmental nsttutons and organsatons. It s proposed to construct the planned wnd park on the bass of the SWT DD (Semens, 2013) wnd power plants (WPP), manufactured by the SIEMENS Wnd Power A/S German concern, the correct functonalty of whch has been proven for many years of operaton n varous regons of the world. By the begnnng of the project, all of the WPPs shall be ready for delvery and shall be fully ftted wth all of the equpment necessary for operaton: blades, asynchronous generators, masts, control cabnets and gondolas. The planned wnd park wll not occupy a large terrtory, and the WPPs wll only produce clean electrcal energy, thereby preventng the harmful greenhouse effect nherent n some other energy producers, whch fully meets the requrements of the Internatonal Kyoto Protocol (Unted Natons, 1998). Under ths project, durng ts lfe cycle each SWT DD wnd-drven power plant wll produce 260,000 MWh of electrcal energy, preventng the emsson of 225,000 tonnes of CO2 nto the atmosphere, whch corresponds to the amount of CO 2 absorbed by a forest area of 8 sq. km over 20 years (Semens, 2015).

3 280 Yur Rolk / Proceda Engneerng 178 ( 2017 ) Descrpton of the electrcal power wnd generaton technology The man ndustral actvtes n ths project wll nvolve the commercal operaton of the constructed wnd park. The SWT DD WPP, manufactured by the SIEMENSAG concern, wll be used for the planned wnd park. Currently, the concern has nstalled more than 13,000 of ts WPPs around the world wth a total nstalled capacty of21gw. The SWT DD type WPP s the combnaton of the drect drve nnovatve technology and the sold desgn of the rotor blades. The drect drve technology (no gears used by compettors n other types of WPP) reduces the weght of such WPP by 12 tonnes. Wnd wheel sold blades are used n the WPPs selected for the mplementaton of the project. These blades are desgned strctly accordng to the strength calculaton methodology of the SIEMENS AG concern manufacturer (Semens, 2013) called the Integral Blade: The modern technology of blade manufacturng. The sold desgn of blades obtaned by usng ths technology makes provson for: Fatgue lfe up to 20 or more years, hgh strength under statc load, deflecton and devaton. 3. The determnaton of the project rsks for the assessment of the status and prospects for the development of the wnd energy project The assessment of the current status and prospects for the development of the wnd energy project s performed by determnaton (prmarly) and documentaton of the characterstcs of rsks that may affect the successful development of the project durng ts entre lfe cycle. In addton, the process of dentfyng project rsks shall drectly be carred out under the jont consderaton of the nternal and external envronment,.e. the envronment of the wnd energy project. Ths assessment can be performed usng varous matrces. Moreover, the SWOT-analyss method (Shnno et al., 2006) has become wdespread as an operatonal dagnostc analyss of project envronments. The SWOT analyss s a test for each project rsk characterstc (Strengths, Weaknesses, Opportuntes, Threats),.e. strong, weak, opportuntes, threats. SWOT analyss shows all of the opportuntes arsng from the strong ponts of the project and any threats emanatng from the weak organsatonal ponts. Table 1. Results of the SWOT-analyss. I. Potental nternal strengths (number of unts = 6) 6 Opportuntes Full competency n key ssues 1 Acquston of fnancal resources; Improvement of the envronmental stuaton; Reducton of electrcal energy mport 2. Adequate fnancal resources 0 3. The formed good mpresson about the company 0 4. А recognsed market leader 0 5. Well-elaborated functonal strategy 1 6. Economy of the producton scale 0 7. Ablty to avod strong pressure from compettors 1 Recept of an addtonal effect when placng orders for the executon of works on the cooperaton of local enterprses; Establshment of a local producton enterprse 8. Propretary technology 1 Development of buldng structure producton 9. Lower costs 1 Reducton of the cost of roads and technologcal platforms; Reducton of the volumes of nvestments n the producton of foundatons 10. The best advertsng campagns Experence n the development of new products 0

4 Yur Rolk / Proceda Engneerng 178 (2017 ) End of Table Proven management 1 The man crtera for selectng the manufacturer and the type of wnd-drven power plants are determned; Wnd condtons of the terran planned for constructon of the wnd park, are analysed; Plannng of the wnd park on the purchased land s performed 13. The best tradng opportuntes Excellent technologcal sklls Mscellaneous 0 II. Potental nternal weaknesses (number of unts = 3) 3 Threats 1. Absence of strategc drecton of growth 0 2. Outdated technology 0 3. Low proftablty 0 4. Lack of management talent and sklls 0 5. Absence of certan abltes and sklls n key areas of 0 actvtes 6. The company's strategy proved to be poor 0 7. In-house producton problems 0 8. Stagnaton n the area of research and development 1 The leadng manufacturer nfluence s ncreased; Ferce competton reduces the share of market segments 9. Too narrow product range 0 9. Too narrow product range Poor mage n the market 1 The degree of uncertanty n the potental markets s ncreased 11. Ineffectve sales network Poor organsaton of marketng actvtes 1 The degree of relance on a number of foregn manufacturers s ncreased; The degree of uncertanty n assessng the dynamcs of macroeconomc ndexes and nvestment actvty s ncreased 13. Lack of money for fnancng the necessary changes n 0 strategy 14. Product cost s hgher than that of major compettors Mscellaneous 0 The results, lsted n Table 1, were the bass for the evaluaton of project development opportuntes takng nto account the extent of the expected threats durng ts promoton. For ths purpose, the conventonal matrx, provded n Table 2, was flled. Each of the four flled quadrants (threats, strengths, opportuntes, weaknesses) of ths matrx contans nformaton, on the bass of whch one can make decsons wth respect to the further mplementaton of the wnd energy project. After the analyss s conducted, t s possble to proceed to the assessment of nternal and external ponts of the wnd energy project. The nternal ponts are assessed from the perspectve of project compettveness, and the external ponts characterse the stuaton on the market n terms of opportuntes and unfavourable trends that may have an mpact on the project actvtes n the future (see Table 3 and 4).

5 282 Yur Rolk / Proceda Engneerng 178 ( 2017 ) Table 2. The flled quadrant of the SWOT-analyss. (T) Threats The ncreasng nfluence of manufacturers on potental sellng markets; Ferce competton reduces the share of market segments; The degree of uncertanty n the potental markets, whch ncreases the rsk of enterng new markets, s ncreased; The locaton dependng on a number of foregn manufacturers s ncreased; The degree of uncertanty n assessng the dynamcs of macroeconomc ndexes and nvestment actvty s ncreased; The level of rsk when assessng the solvency n varous market segments s ncreased. (O) Opportuntes Development of electrcty producton on the bass of envronmentally-clean producton; Expanson of the tradtonal market share and penetraton nto new segments; Increasng the number of hgh-tech workplaces; Acquston of fnancal resources; Mantanng the level of hgh-technologes; Establshment of local ndustral enterprses. Strengths (S) Own research and producton potental; The presence of a terrtoral self-management development plan wth an ndcaton of the locaton for the constructon of the wnd park; Good access roads to the planned constructon ste of the wnd park; The proxmty of the land plots to the 20/110 kv transformer substaton and the 110 kv hgh-voltage lne; The certfed report on the analyss of wnd condtons of the area planned for establshment of the wnd farm; Hgh average wnd speed at the heght of the WPP rotor axs; The basc requrements fulflled for the nstallaton of WPPs n the park; Plannng of the wnd park on the land plots bought nto acquston; The agreed and approved structural part of the project (foundatons, roads and technologcal platforms) of the wnd park; The agreed and approved electrcal part of the project (cable lnes, transformer substatons and connecton ponts to the hgh-voltage network) of the wnd park; Knowledge of the potental electrcty market; Operaton of wnd-drven power plants s remotely controlled by the central control faclty of the wnd park; 90% of faults occurrng durng the operaton of the WPP are elmnated remotely from the control faclty; Hgh qualfcaton personnel workng for a relatvely low salary; Absence of potental WPP generated electrcty producton markets wthn the area. Weaknesses (W) Competton n the market of electrcty producers; Novelty of the problem; Lack of advertsng experence; Supples of foregn equpment; Complexty of the project; Tme lag. Table 3. Internal dagnostcs of the project. Index Strengths Weaknesses Value for the market Technology Meets European standards Novelty 7 Marketng Thorough analyss of the market The actvty of compettors 3 Mantenance Exstng servce experence 5 Products Meet global trends Novelty 6 Fnances There s a possblty of fnancng 5 Personnel The possblty of tranng of qualfed personnel Tranng of new specalsts n the course of the growth of producton volumes 6 Market share There are no strengths Practcally, there s no market share 1 Clents Demand for electrcty producton 1

6 Yur Rolk / Proceda Engneerng 178 (2017 ) Table 4. Dagnoss of external condtons. Index Opportuntes Unfavourable trends Value for the project Market growth Large growth potental There are no unfavourable condtons 4 Market volume The ablty to accommodate new The presence of major compettors ndustral facltes 4 Aggressveness of compettors See-saw polcy of compettors Competton ncreases 3 Rsk of substtuton to other products There are no opportuntes Products wll be replaced wth compettors' products 1 Currency rsk Dversfcaton by currences Change of currency rates 2 Fees and other non-tarff barrers Protecton of local producers Reducton or elmnaton of mport barrers 2 After the dagnostcs of nternal and external ponts of the project as of the reportng perod, all of these ndexes, gven n Table 3 and 4, shall be evaluated by the McKnsey expert assessments (ratngs) (Rasel and Frga, 2004; Rasel, 1999). These ratngs allow for the calculaton of the attractveness of objects of actvty and compettveness of the project n the form of weghted averages for the future postonng of the studed parameters on the McKnsey matrx (see Table 5 and 6). Table 5. Expert ratngs. Compettve advantages. No. of a crteron Compettve advantages crtera Value for the market In comparson wth compettors Important value Weak Average Strong Technology Marketng Mantenance Range of products Fnances Personnel Market presence Market share Clents Amount of values 36 Amount of vald values 92 In addton, the McKnsey matrx ordnate ndex (Table 5) the pont poston for the Y -axs (compettve advantages) s calculated as follows: K Y = k α A = 1 k = 1 α, (1) where А s the expert assessment of the -th crteron; α weghtng factor, whch characterses the relatve mportance of the -th crteron for the market; k number of crtera; the current number of a crteron. The McKnsey matrx abscssa ndex (Table 6) the pont poston for the X -axs (market attractveness) s calculated as follows:

7 284 Yur Rolk / Proceda Engneerng 178 ( 2017 ) K X = l β B j = 1 l β j= 1, (2) where B s the expert assessment of the j-th crteron; β weghtng factor, whch characterses the relatve mportance of the j-th crteron for the frm; l number of crtera; j the current number of a crteron. The McKnsey matrx ordnate ndex calculated by the expresson (1): sum of vald values 92 Ordnate ndex = = = sum of mpor tan ce ndexes 36 Table 6. Expert ratngs. Market attractveness. No. of a Attractveness crtera crteron Value for the frm Attractveness Weak Average Strong Market growth Market volume Aggressveness of compettors Rsk of substtuton to other goods Currency rsk Fees and other tarff barrers Amount of values 17 Amount of vald values 74 Important value The McKnsey matrx abscssa ndex calculated by the expresson (2): sum of vald values 74 Abscssa ndex = = = sum of mpor tan ce ndexes 17 Havng calculated the coordnates (X and Y) of the project usng the McKnsey matrx and havng marked them on the matrx, one can determne the sector, charactersng the prospects for the development of the project, see Fg Leadershp 6 Development Bankruptcy 1 0 Advantage n competton Market attractveness Fg. 1. Poston of the project n the studed year. The marked pont and the drected vector of the McKnsey matrx provde evdence of the development of the wnd energy project consdered.

8 Yur Rolk / Proceda Engneerng 178 (2017 ) Identfcaton of rsks of the wnd energy project Identfcaton of project rsks s the frst step of the mpact on rsks reducton. The mplementaton of the wnd energy project s assocated wth rsks, both of an external and nternal nature nherent n such projects n the real sector of the economy n modern condtons (Konechenkov, 2012). Therefore, takng nto account the factors nfluencng the success of the project development, t s proposed to only assess the project under the scenaro of ts mplementaton n the process of the dentfcaton of rsks. In addton to ths, the basc account of factors (.e. the possblty of condtons that lead to a deteroraton of the project results) s performed by way of ncludng the rsk correcton standard durng the selecton of a value (Yelstratov et al., 2010). The rsk correcton value for the baselne verson of the project s adopted n the amount of 100% of the dscount rsk-free commercal rate (Yelstratov et al., 2010; Yelstratov et al., 2013). The rsks of any wnd energy project are classfed as follows: Project rsks, market rsks and management rsks Project rsk Gven the features of the partcular wnd energy project, the rsk correcton shares structure s formed as follows: 10% of the rsk correcton can be attrbuted to the country rsk share (ths rsk s smoothed by the fact that the project nvolves the avalablty of government support); 15% the rsk of unrelablty of the project partcpants (n ths context, the low level of rsk s adopted n the presence of strong partnershps and exstng experence of smlar work of the project partcpants, reducng the lkelhood of ther volaton of the transacton terms); 75% the techncal, technologcal and commercal rsks, assocated wth non-recept of the specfed ncome or exceedng the planned expenses, are major rsks of the wnd energy project. These rsks nclude (Rolk and Gornostay, 2015): 1. Unpredctable level of nflaton, whch n the condtons of strct state regulaton of electrcty tarffs, can reduce the proftablty of the project. 2. Unplanned growth of the currency exchange rate leadng to an actual rse n the cost of borrowed funds. 3. Potental overestmate of the value of wnd energy resources at the ste of the wnd-drven power plants leadng to a lower than planned utlsaton factor of the WPP power capacty and to a reducton of project revenues. 4. Reducton of consumer solvency, or under the project, an unforeseen ncrease n debt recevables for the provded electrcty, whch can be a consequence of the ncrease n the cost of fnancng the project workng captal. 5. Rse n prces for spare parts and supples used n the course of the project ncreasng ts operatonal costs. 6. Wrong choce of electrcty wnd generaton technologes, of the manufacturer and the WPP type, whch lead to a decrease n the project revenues. 7. Growth n property prces can lead to an ncrease n rent payment for the land plots planned to be used for the deployment of WPPs or cancellaton of the rent. 8. In the course of the project, the refusal of the state from the support of the project, manfested n the reducton of the set fxed prces for electrcty generated by the wnd energy project Market rsk The electrcty sellng market s practcally unlmted. Due to the constant growth of electrcty consumpton n the short term, t s not requred to consder market saturaton. The ncome from the operaton of the WPP park conssts of payments for the generated electrcty, whch shall be pad by the local energy producton enterprse. In accordance wth the current legslaton of the country where the

9 286 Yur Rolk / Proceda Engneerng 178 ( 2017 ) wnd energy project s mplemented, payments for the electrcty produced by the WPPs are made at the rate whch s determned by the Regulator accordng to the State Energy Polcy accepted by the Government Management rsk Management rsks are generated under legal relatons organsed between the project partcpants. The man relatons are: Type of ownershp; Enterprse management; Formaton and use of ts own captal; Control over the use of funds; Owners' lablty; General meetng of partcpants; Legal successon; Termnaton of the relatonshp; Perod of valdty and partcpaton of substtutablty. After the wnd energy project rsks are dentfed, t s necessary to go on to the development of measures to reduce ther negatve mpact. 5. Measures to reduce the negatve mpact of rsks on the project Development of measures to reduce the negatve mpact of rsks on the project s the second step of the mpact on rsks reducton. In ths context, the major reducton factors to be developed are two components: State support measures and project management actvtes State support measures The most mportant state support measures, the provson of whch determnes the successful mplementaton of the project, and the reducton of the negatve mpact of possble rsks, are (Rolk, 2008): Reducton of the negatve mpact of commercal rsks by: 1. Adopton of the government decson on the establshment of a fxed prce (feed-n tarffs for 1 kwh) for the electrcty transferred from the WPP park substaton nto the electrc utlty system. 2. The Government's provson of state guarantees for foregn nvestors to attract fnancng for the mplementaton of nvestment wnd energy projects. 3. Ensurng the protecton of producers of energy from renewable energy sources aganst unfar competton, as well as on the part of legal enttes occupyng the domnant poston n the energy producton ndustry Reducton of the negatve mpact of the project techncal and technologcal rsks by: 1. Ensurng a smooth, non-dscrmnatory and secure connecton of the wnd park to the nearest pont of the state energy networks. 2. Ensurng the recept of all proposed electrcty produced usng wnd, provded by ndependent producers n the state energy network, as well as ts payment at the establshed rates over the entre lfe cycle of the wnd energy project.

10 Yur Rolk / Proceda Engneerng 178 (2017 ) Project management actvtes In the mplementaton of the wnd energy project wth an am to reduce the negatve mpact of the possble project rsks, the man project management actvtes are (Rolk, 2008): Reducton of the negatve mpact of commercal rsks by: 1. Assessment of the vablty and fnancal feasblty of the project (Rolk and Gornostay, 2015), the analyss of the busness plan and cash flow correctness. 2. Calculaton of the effcency and proftablty of the project, ts feasblty, as well as the assessment of the envronmental mpact and envronmental sutablty. 3. Buyng and acqurng a suffcent amount of land plots wth the sze and confguraton correspondng to the requrements for the nstallaton of WPPs and wnd park plannng. 4. Selectng the drect drve WPP wth a mass of towers of less than 200 tonnes (the new lghtweght standard) wll help to reduce transportaton and nstallaton costs. 5. Provson of the operatonal control of the WPPs and tmely removal of faults (Rolk, 2004), resultng n the process of operaton, ncreases operatonal readness and sgnfcantly reduces downtme (Rolk and Gornostay, 2010). To do ths, n the wnd energy project t s necessary to use such wnd power plants, whch can be remotely controlled from the central control faclty of the wnd park, whch controls the operaton of ndvdual unts (Rolk and Gornostay, 2016). In ths case, about 90% of all faults that occur durng the operaton of the WPPs wll be elmnated remotely from the control faclty. The manual removal of faults, whch cannot be elmnated remotely, shall be conducted by the specally traned operator techncans of the WPPs. 6. Involvement of a specal team performng mantenance of wnd parks n sequence on each WDP accordng to the schedule also reduces downtme, ncreasng the producton of electrcty, and hence the project revenues Reducton of the negatve mpact of the project techncal and technologcal rsks by: 1. Montorng the area wnd condtons durng the perod of 1.5 years at the ntended ste of constructon elmnates the possblty of a lower than planned capacty factor of the WPP. 2. Meetng the basc requrements for the nstallaton of the WPPs based on the average annual wnd speeds at dfferent heghts elmnates unwanted turbulence and neffcent use of the potental of wnd energy resources n the wnd park. 3. The correct choce of the manufacturer and type of equpment usng the man crtera for the selecton and analyss of the current world suppler market. 4. Holdng of a tender for selectng the manufacturer and type of equpment, durng whch preference shall be gven to nnovatve technologes havng obvous advantages over the compettors' solutons, such as: Sold blade technology; Increased rotor dameter (113 m) specfcally desgned for onshore condtons; Drect drve nnovatve technology and the sold desgn of the rotor blades, based on the experence of workng wth small drect drve unts. 6. Concluson In order to dentfy potental rsks, the evaluaton of the vablty and fnancal feasblty of the project beng analysed shall be done under the jont consderaton of the nternal and external envronment (the SWOT-analyss method),.e. the envronment of the wnd energy project. It s suggested to use the other method for the dentfcaton of rsks based on the nternal and external ponts of the wnd energy project, whch have to be evaluated wth the help of the McKnsey expert ratngs. These ratngs

11 288 Yur Rolk / Proceda Engneerng 178 ( 2017 ) help to calculate the attractveness of the area of actvty and the compettveness of the project n the form of weghted averages for subsequent postonng on the McKnsey matrx. Postonng of the wnd energy project on the McKnsey matrx n the form of a base pont and a drectonal vector allows the prospects for the development of the project to be judged n terms of the occurrence of rsks that could hnder ths development. The practcal use of these evaluatons wll allow tmely dentfcaton of the occurrence and reducton of the negatve mpact of possble rsks, whch n turn wll help to acheve good results n the mplementaton of commercal wnd energy projects. Overcomng the commercal rsks of the wnd energy project s manly dependent on the project revenues, whch are obtaned for the electrcty yearly generated by the wnd parks as per the feed-n tarffs for 1 kwh of electrcty. If t s mpossble to affect the second performance ndex n any manner (as t s determned by the state), the frst one s entrely dependent on the effcency of project management, consstng of: The correct choce of the manufacturer and type of equpment; The correct choce of the proposed constructon ste wth good wnd condtons; The optmal deployment of plants n the wnd park; The effcent operaton of the equpment durng ts entre lfe cycle. References Konechenkov, A.E. (2012) Wnd energy: barrers and trends. Networks & Busness. 67(6), Rolk, Y.A. (2008) Innovatve wnd power Project Management. Monograph. Rga: Transport and Telecommuncaton Insttute. Yelstratov, V.V., Akenteva, E.M., Kobysheva, N.V., Sdorenko, G.I. and Stadnk, V.V. (2010) Clmatc factors of renewable energy sources. Monograph. St. Petersburg: Nauka. Yelstratov, V.V., Konechenkov, A.E. and Schmdt, G.B. (2013) The development of wnd power n Ukrane and ts state n Russa. Energetc. Electrcal engneerng. 178(3), Rolk, Y.A. and Gornostay, A.V. (2015) Analyss of the Major Economcs Factors of the Wnd Turbnes Performance Based of the Results of Commercal Servce Experence of the Wnd-Farms n Latva. Energetka. Proc. of CIS Hgher Educ. Inst. and Power Eng.Assoc. 54(2), Semens AG (2013) Semens D3 platform 3.0-MW drect drve wnd turbnes. Reduced complexty, ncreased proftablty. Hamburg: Semens AG. Unted Natons (1998) Kyoto Protocol to the Unted Natons Framework Conventon on Clmate Change. Unted Naton. Semens AG (2015) Semens Envronmental Product Declaraton. A clean energy soluton from cradle to grave. Onshore wnd power plant employng SWT Hamburg: Semens AG. Shnno, H., Yoshoka, S., Marpaung, S. and Hachga, S. (2006) Qualtatve SWOT analyss on the global competveness of machne tool ndustry, Journal of Engneerng Desgn. 17(3), Rasel, E.M. and Frga, P.N. (2004) The McKnsey Mnd: Understandng and Implementng the Problem-Solvng Tools and Management Technques of the World s Top Strategc Consultng Frm. Delh:Tata McGraw-Hll Educaton Pvt. Ltd. Ethan M. Rasel. (1999) The McKnsey Way: Usng the Technques of the World's Top Strategc Consultants to Help You and Your Busness.New York: McGraw-Hll. Rolk, Y.A. (2004) Some result of operatng experence of wnd turbnes n Latva. Proceedng of Internatonal Conference Wnd Energy n the Baltc,July2004. Rga: RMS Forum, pp Rolk, Y.A. and Gornostay, A.V. (2010) Hgher Relablty of Electrc Power Supply under Electrcal Installaton Operaton n General Power System by Optmzaton of Ther Scheduled Control Perod. Energetka. Proc. of CIS Hgher Educ. Inst. and Power Eng.Assoc. 35(3), Rolk, Y.A. and Gornostay, A.V. (2016) Provdng Qualty of Electrc Power n Electrc Power System n Parallel Operaton wth Wnd Turbne. Energetka. Proc. of CIS Hgher Educ. Inst. and Power Eng.Assoc. 59(3),