The existing environmental threats and the ever increasing global dependence on electric power highlight the importance of producing power in a sustainable manner. In accordance, it is vital to attract investments in electricity generation projects based on renewable energy sources, also called renewable energy projects (REP). This poses a challenge, as REP tend to be less financially competitive than their fossil fuel based counterparts. Moreover, the power grid has to be upgraded to integrate large amounts of RESs in an efficient and economic manner. An appealing alternative to enhance the financial appealing of REP is to improve the techniques used for their assessment. These tools produce robust and economically sound assessments, but tend to undervalue REP and other projects under uncertainty, as they neglect the flexibility of the projects to be adjusted in response to uncertainty. This can be corrected by extending the tools with the aid of real options (RO) theory. RO theory can be used to extend assessment techniques to value flexibility derived from the projects, their management, and even their environment, which can be used to enhance the financial value of REP in the changing power sector. In addition, the scope of RO theory is increasing to address flexibility in the design of the projects. Therefore, the theory can drive investments in REP and motivate the design of more profitable projects. This research project seeks to analyse the potential of RO theory to increase the financial worth of different types of REP in the current and changing power sector. The novelties of this research are that it expands RO theory by addressing the flexibility within the design of the projects, the potential of RO theory to manage uncertainties that are exclusive to the projects or typical in the power sector, and other relevant areas of research interest. The research produced several RO methodologies to model the planning, operation, and design of hydropower projects, wind power projects, and solar photovoltaic projects in existing power sector environments and environments characterised by high penetration of RESs and consumers with demand response capabilities. The results demonstrate the applicability of RO theory to enhance the financial value of different types of REP under a wide range of circumstances.

Submitted by Renata Lopes (renatasil82@gmail.com) on 2017-04-19T19:08:59Z No. of bitstreams: 1 filipecaixeiromattos.pdf: 2641141 bytes, checksum: 014bbdead0d71ad1d9852cb7403b3439 (MD5) / Approved for entry into archive by Adriana Oliveira (adriana.oliveira@ufjf.edu.br) on 2017-04-20T12:46:42Z (GMT) No. of bitstreams: 1 filipecaixeiromattos.pdf: 2641141 bytes, checksum: 014bbdead0d71ad1d9852cb7403b3439 (MD5) / Made available in DSpace on 2017-04-20T12:46:42Z (GMT). No. of bitstreams: 1 filipecaixeiromattos.pdf: 2641141 bytes, checksum: 014bbdead0d71ad1d9852cb7403b3439 (MD5) Previous issue date: 2011-09-02 / Esta dissertação apresenta uma contribuição ao estudo de um inversor de tensão monofásico (VSI – Voltage Source Inverter), com saída em corrente, aplicado ao processamento de energia em sistemas solares fotovoltaicos (PV) monofásicos conectados à rede elétrica de distribuição. Através do controle por corrente média, é possível em um único estágio de processamento de energia rastrear o ponto de máxima potência do arranjo fotovoltaico e injetar na rede elétrica uma corrente com baixa distorção harmônica total (THD) e em fase com a tensão da rede CA. Para implementação do controle do sistema é utilizado o circuito integrado UC3854, da Texas Instruments, componente analógico de baixo custo e com funções típicas de correção de fator de potência de fontes de alimentação. Equações de análise e projeto, resultados de simulação e informações experimentais, obtidas de um protótipo de 720W, são incluídos neste material. / This dissertation presents a contribution to the study of a single-phase voltage inverter (VSI – Voltage Source Inverter), with current output, applied to the processing of photovoltaic (PV) solar power connected to single-phase electric distribution network. By controlling the average current, it is possible, in a single stage of power processing, to track the maximum power point of PV array and inject into the grid a current with low total harmonic distortion (THD) and in phase with the AC mains voltage. To implement the control system it is used a low cost Texas Instruments' analog integrated circuit UC3854, which includes a power factor correction typical function. Equations concerning analysis and design steps, simulation results and experimental data obtained from a 720W prototype are included in this document.