Sustainability, investment strategy, and governance: evaluation of wind energy sector in North-West Spain

Climate change is one of the greatest challenges humanity faces globally. For this reason, governmental efforts to reduce emissions polluting gases have multiplied in last decade. Against panorama, petroleum companies adopted a strategic policy focused on energy diversification, intending contribute sustainable development. In case Spain, wind has been renewable energies that attracted most investment from companies. particular, trend especially acute Galicia (a region located northwest Spain), since its biophysical conditions and, above all, institutional framework for promotion photovoltaic aroused interest The objective article perform feasibility analysis an average project Galicia. through calculation initial investment, necessary financing, and preparation balance sheets profit loss accounts. purpose, methodology used based plan, which analyzed flows receipts payments generated by company are considered. way, intended be useful considering appropriateness/inappropriateness carry out type investment. results show high internal rate return, indicates profitability project.