Valuation of projects for power generation with renewable energy: A comparative study based on real regulatory options

► We have evaluated an investment project on renewable energy using wind power. ► We performed a comparative study in three countries: Denmark, Finland and Portugal. ► We have evaluated the implicit real options on the regulatory frameworks. ► We have measured the impact of the real regulatory option on the net present value. ► The valuation model allows for the analysis of the impact of public incentives