Literature Review on PFI and Clean Energy Production

Project Economics and
Feasibility
(PART 2)

Part II: Literature Review
The PFI is part of a number of progressive initiatives to increase role of the privately
owned market in public services delivery. This paper explores the roots of the PFI, PFI costs and
addresses the reasons for and against PFI, discussing some the existing problems. Operation
arrangements recognized as the value for money (VFM) for growth, productivity and quality.
The PFI is the primary impetus for contracting. The practical and theoretical dimensions of
programs should be measured to reach VFM. PSC (Public Sector Comparator), main
management instrument for quantitative evaluate VFM, is common approach used for evaluating
VFM for PFI project. VFM is best possible outcome of PFI projects when analyzing all the
advantages, risks and expenses during the procurement cycle. The term Value for Money (VFM)
being linked with 3 concepts: economy, productivity and efficiency that apply to the entire
business value, economy that obtain capital of a suitable nature at minimal expense. Efficiency is
aimed at ensuring the maximum output of a certain level of resources as well as efficiency with
respect to desired results obtained. Across all facets of project, the attainment of a VFM
performance is a core idea across the entire procurement process. Evaluation of value such
factors require both theoretical and practical analytics to be evaluated and to be used.
Because of the increasing environmental issues regarding the greenhouse impacts, clean
energy production has become a big problem globally to reduce unwanted carbon emissions. In
the meantime, various research programs and other innovative techniques were developed during
the past decade to consider the environmental effects of power generations and also
manufacturing activities. For a variety of analyzes in general, life cycle assessment (LCA),
success metrics, and MCA are used. LCA is a comprehensive way to measure the efficiency and
the related environmental effects of a good or services over its entire lifespan. This is considered
a cradle-to-grave strategy. It includes the design, production, transport, operations, servicing and
disposal phases/processes. Martinez et al. have introduced LCA to analyse multiple steps
of wind-farm with main elements and have proposed optimizing manufacturing procedures in
order to minimize the strain of environment. Researchers/experts have proposed different
performance metrics for evaluating the production of the renewable energy multiple types
including their related viability to boost measurement efficiency and create a common standard.
Moreover, energy, environmental as well as economic problems can cause conflict between
themselves during development of any energy plan. MCA should overcome this question and