Browsing by Author "Cilesiz, A."

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Management of sustainable investments: A comprehensive financial evaluation of wind energy facilities in Kastamonu
(Elsevier B.V., 2024) Dayi, F.; Yucel, M.; Demirkol, Z.; Cilesiz, A.
The rich renewable sources of nature, such as water, wind, solar, geothermal, and biomass, are converted into energy, revitalized into the economy without causing pollution, and ensure sustainability in energy management. Wind power plants have been among the most preferred renewable energy sources in recent years since they are harmless to the environment and easy to install in places with consistent and sufficient wind speed. This study focuses on conducting a feasibility analysis of a Wind Power Plant (WPP) in Kastamonu, a region known for its persistent wind patterns. The analysis aims to contribute to the existing literature by examining the potential of a WPP investment project within the region. Utilizing wind speed data collected from 23 observation stations for six years, starting from 2017 to 2022, a total of 1,200,600 h, a statistical evaluation method known as the Weibull probability density function is employed to indicate the wind energy potential. The parameters are determined by applying the maximum likelihood method. The findings indicate that it is feasible to establish Wind Energy Power Plants in specific locations, namely İnebolu, İnebolu Kar, Küre, and Tosya stations. The cost estimation for establishing a 10 MW power plant with three different turbine powers across these four locations ranges from 10 million USD to 20,8 million USD. Furthermore, the analysis indicates that the net profit for producing 1 kW of electrical energy falls from 9.39 to 50.65 USD. The projected payback period for the investment ranges from 2 to 25 years, depending on factors such as the exact site of the facility and the size of the turbines. Some investments are more feasible than others, with economic viability and potential return on investment varying significantly within the specified locations.
Management of sustainable investments: A comprehensive financial evaluation of wind energy facilities in Kastamonu
(2024.01.01) Dayi, F.; Yucel, M.; Demirkol, Z.; Cilesiz, A.
The rich renewable sources of nature, such as water, wind, solar, geothermal, and biomass, are converted into energy, revitalized into the economy without causing pollution, and ensure sustainability in energy management. Wind power plants have been among the most preferred renewable energy sources in recent years since they are harmless to the environment and easy to install in places with consistent and sufficient wind speed. This study focuses on conducting a feasibility analysis of a Wind Power Plant (WPP) in Kastamonu, a region known for its persistent wind patterns. The analysis aims to contribute to the existing literature by examining the potential of a WPP investment project within the region. Utilizing wind speed data collected from 23 observation stations for six years, starting from 2017 to 2022, a total of 1,200,600 h, a statistical evaluation method known as the Weibull probability density function is employed to indicate the wind energy potential. The parameters are determined by applying the maximum likelihood method. The findings indicate that it is feasible to establish Wind Energy Power Plants in specific locations, namely I(center dot)nebolu, I(center dot)nebolu Kar, K & uuml;re, and Tosya stations. The cost estimation for establishing a 10 MW power plant with three different turbine powers across these four locations ranges from 10 million USD to 20,8 million USD. Furthermore, the analysis indicates that the net profit for producing 1 kW of electrical energy falls from 9.39 to 50.65 USD. The projected payback period for the investment ranges from 2 to 25 years, depending on factors such as the exact site of the facility and the size of the turbines. Some investments are more feasible than others, with economic viability and potential return on investment varying significantly within the specified locations.
Strategic Management of Clean Energy Investments: Financial Performance Insights by Using BWM-based VIKOR and TOPSIS Methods
(Econjournals, 2024) Dayi, F.; Cilesiz, A.; Yucel, M.
Market share of renewable energy companies increases with the increase in green-energy production. Companies increase their investments depending on the increase in energy production and can provide capital by offering the company to the public. Companies are traded in the exchange market in order to fund their increasing investments and access a large investor base. The increase in the market values of clean energy companies in recent years draws attention of investors. The study aims to identify key financial indicators that influence company growth and investment value by analyzing companies listed in the S&P North America and Europe Clean Energy Index. Therefore, the study evaluates the financial performance of clean energy companies using Best-Worst Method (BWM)-based VIKOR and TOPSIS methods to provide investors with a comprehensive assessment of investment opportunities in the clean energy sector. Also, the comparison of the two methods will contribute to the literature. The sample of this study consists of 10 big companies in S&P North America and Europe Clean Energy Index. Financial tables and exchange market data of the companies for the years 2019, 2020, and 2021 were used in this study. Remarkably, the analysis findings of the two methods differ from each other. The findings reveal significant insights into the financial health and growth potential of clean energy companies, offering valuable guidance for future.
The Impact of ESG Criteria on Firm Value: A Strategic Analysis of the Airline Industry
(2024.01.01) Yildiz, F.; Dayi, F.; Yucel, M.; Cilesiz, A.
Environmental, social, and governance (ESG) factors are crucial in evaluating a company's value. High ESG scores reflect ethical practices, social responsibility, and effective governance. This paper examines the impact of ESG criteria on firm value within the airline industry, focusing on their influence on operational efficiency, risk reduction, and financial performance. Using panel data analysis, the study evaluates ESG scores from 32 airline companies over the period of 2018-2023, with an explanatory power of 36.5%. The research explores how integrating environmental, social, and governance factors into strategic management can foster sustainable competitive advantage. It focuses on utilizing internal resources, meeting the needs of various interested parties, and balancing financial, social, and environmental performance. The findings indicate that while ESG practices enhance firm value through improved efficiency and risk management, they do not always lead to higher short-term firm value. Moreover, the study underscores the significance of governance in the airline industry, where robust governance structures can mitigate risks but may also increase costs. This research contributes to the literature by providing empirical evidence of the link between ESG performance and firm value in the airline industry, emphasizing the importance of integrating ESG principles into strategic management for long-term sustainability and financial success.