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火力发电企业是NOx主要排放源之一,故国家出台了《火电厂大气污染物排放标准》(GB13223-2011)限值,将NOx的排放浓度限定在100mg/Nm3,某些火力发电企业的脱硝改造也就势在必行。然而尽管存在脱硝电价补贴政策,仍不能改变火力发电企业对该项投资的消极状态,究其原因在于脱硝改造这类环保投资是否具有投资价值,是否符合企业价值最大化目标尚未可知。本文站在微观企业视角,通过结合火力发电企业脱硝改造的特点,运用项目生命周期理论,全面透彻地分析了火力发电企业脱硝改造投资价值影响财务与非财务因素,为企业进行相关投资提供了借鉴意义。
Thermal power generation enterprises are one of the main NOx emission sources, so the state has promulgated the “Thermal Power Plant Air Pollutant Emission Standards” (GB13223-2011) limits, the concentration of NOx emissions limited to 100mg / Nm3, some thermal power plant denitrification Transformation is imperative. However, despite the existence of denitrification tariff subsidy policy, it still can not change the negative state of this investment by thermal power plants. The reason is that whether denitrification reforming such investment has the investment value and whether it meets the goal of maximizing the value of the enterprise is not yet known. Based on the characteristics of denitrification reform of thermal power plants, this paper analyzes the characteristics of thermal power plants’ denitrification and investment by influencing financial and non-financial factors, and provides a reference for enterprises to make relevant investment through the project life cycle theory. significance.