Innovative Infrastructure Fund to Ensure the Financial Sustainability of PPP Projects: The Case of Chile

Measurement of Innovation-Driven Development Performance of Large-Scale Environmental Protection Enterprises Investing in Public–Private Partnership Projects Based on the Hybrid Method

Innovation is an important driving force for realizing high-quality economic development, which puts forward higher requirements for environmental protection enterprises to meet the dual goals of economic development and ecological protection. In order to better evaluate the innovation-driven development performance of environmental protection enterprises, a hybrid method is applied in this paper. Based on the sample data of 20 large-scale environmental protection enterprises investing in public–private partnership (PPP) projects from 2018 to 2020, the innovation-driven development performance is measured. The results show that the innovation-driven efficiency of environmental protection enterprises for infrastructure construction is significantly different, and the improvement of pure technical efficiency of environmental protection enterprises is obviously better than scale efficiency. Furthermore, the reasons influencing the innovation efficiency are analyzed and discussed. The results suggest that more attention should be paid to the transformation of labor and capital in environmental protection enterprises, and the use of innovation-driven resources should be optimized. Future studies can apply the hybrid method to measure the innovation-driven performance of environmental protection enterprises in other countries, so as to verify the effectiveness of the hybrid method proposed in this paper and overcome the limitations of the research conclusions.

Optimized Expansion Strategy for a Hydrogen Pipe Network in the Port of Rotterdam with Compound Real Options Analysis

The port of Rotterdam is the largest seaport in Europe. To maintain its position, the harbor will have to anticipate global transitions such as transferring to sustainable energy. Hydrogen is seen as a promising energy carrier; however, future demand is uncertain. The current research investigates decision making under uncertainty and values flexibility. Compound real options analysis is applied to optimize the time-variant expansion strategies for a hydrogen pipe network. The trade-off between early investments and missed revenues when not investing in time determines the optimized expansion strategy. Moreover, the real options approach also provides the levelized unit price for hydrogen distribution, to cover the life cycle costs of the optimal expansion strategy. Finally, this real options approach offers flexibility to a decision maker as it allows for enhancing future decisions. The academic contribution of this research is a distinct perspective on a compound real options approach where the optimal strategic path is the key result of interest. This in contrast to other real options applications in the literature which focus on option value, exchange with limiting the options or do not visualize a strategic path. Moreover, this research demonstrates how stepwise expansion and decision making under uncertainty facilitate transitions such as the transition toward clean energy.