中小esco私募股权融资路径分析-analysis of private equity financing path of small and medium esco.docxVIP

中文摘要 中文摘要 重庆大学硕 重庆大学硕士学位论文 I I PAGE PAGE VI 摘 要 随着合同能源管理机制在我国发展所面临的财政、税收等问题的逐步解决， 国家对于节能环保产业大力发展的决心和规划，节能服务公司（ESCO）数量迅速 增多。然而融资难问题却一直未得到有效解决，严重阻碍了整个行业的迅猛发展， 这与我国的金融体系不无关系。尤其是对于占大多数的中小节能服务公司来说， 资金匮乏严重制约了公司的发展壮大。面对发展机遇，拓宽融资渠道，寻求新的 融资方式，是中小节能服务公司突破资金瓶颈的必然选择。 论文结合中小节能服务公司特点和私募股权融资模式，探讨这一融资路径形 成的动力机制、私募股权融资与中小节能服务公司的契合性，针对不同情形从项 目、企业角度分别设计了融资路径和流程，对可能产生的风险进行分析并提出了 防范的措施。为了解决市场失灵问题，更大范围地解决中小节能服务公司的资金 紧缺问题，论文从区域性产业发展的角度，引进产业发展基金的理念，通过政府 引导成立节能服务产业发展基金，先融资再投资，通过风险识别找出了基金成立 和运作过程中可能面临的风险，对节能服务产业发展基金的良性循环发展提出了 建议。 论文的研究期望架起民间资本和节能服务产业的桥梁，在银行贷款和主板上 市融资双重困难的情况下，通过私募股权融资适当增加节能服务公司的股权融资 比重突破资金瓶颈，推动节能服务产业利用市场手段实现国家节能减排和节能服 务产业发展的双重目标。 关键词：节能服务公司，中小型企业，私募股权融资，产业发展基金 英文摘要 英文摘要 重庆大学硕 重庆大学硕士学位论文 III III PAGE PAGE IV ABSTRACT With financial, tax and other issues which the Energy Performance Contracting mechanism in the development of China has faced gradually resolved and national determination and planning to vigorously develop energy-saving environmental protection industry, the number of Energy Services Companies has rapidly increased. However, the problem of financing has not been effectively resolved. It is hindering the rapid development of the industry seriously. It’s related of Chinas financial system. Especially for the majority of small and medium-sized Energy Services Companies, the lack of funds seriously restricts the development and growth of the companies. Facing the big development opportunity, broadening financing channels and seeking new financing way become the necessary choice to break through capital bottleneck for small and medium Energy Management Corporations. The paper studies the dynamic mechanism that facilitates the Private Equity financing path, combining the characteristics of small and medium Energy Management Corporations with Private Equity. It also studies the correspondence of Private Equity and small and medium Energy Management Corporations, and designs financing paths and processes from projects and enterprises for different circumstances. It