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Ingeniare. Revista chilena de ingeniería

On-line version ISSN 0718-3305

Abstract

AHUMADA V, Rodrigo  and  ANDALAFT CH, Alejandro. The methodology of real options: an application to the case of a paper company in the Biobio region, Chile. Ingeniare. Rev. chil. ing. [online]. 2013, vol.21, n.3, pp.337-346. ISSN 0718-3305.  http://dx.doi.org/10.4067/S0718-33052013000300004.

This paper evaluates economically build a new cogeneration plant with clean energy from forest biomass company Norske Skog Bio Bio (NSBB). This is to show that this plant-based forest biomass for electricity generation is a viable option in Chilefrom the economic and environmental perspective. For this evaluation, we propose an approach that uses "real options theory" based on the application of log-transformed binomial method with six steps. Also, comparing the results obtained with this approach, the results using traditional methods. It is found that for all cases studied, the value yielded by the real options method was higher than estimated by traditional methods. It is concluded that this alternative profitable investment.

Keywords : Real options methodology; cogeneration; paper mill; biomass.

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