NUPEI | Núcleo de Pesquisa em Energia e Infraestrutura


NUPEI develops research projects, education, consulting and training in finance with an emphasis on decision making in energy and infrastructure projects under uncertainty and flexibility. These initiatives aim to contribute to the sustainable development of society and are targeted to graduate students, private and government firms, regulatory and governmental agencies. We develop R&D projects, graduate courses and consulting related to research and training, and publish peer reviewed academic articles and books. NUPEI has a staff of researchers, teachers and professionals with extensive market experience as well as Ph.D students in full time programs. We provide technical resources such as databases, software applications and specialized statistical and econometric softwares, risk analysis, decision modeling and databases.

Research Tracks

Intangible Assets Valuation

Intangible assets for modern enterprises will represent a growing share of their market value. This research aims to identify the value sources of these assets, using real options analysis and multiples as pricing models.

Project Valuation of Renewable Energy Sources

Investment projects valuation of renewable energy sources such as biomass, wind and solar considering uncertainties and flexibilities of this class of projects. These flexibilities are modeled as options and priced through real options methodology.

Financial and Economic Viability in Public Private Partnerships (PPPs) of Infrastructure Projects

This line of research is related to economic and financial modeling aspects of infrastructure projects, with focus on risk analysis, uncertainty and flexibility in Public Private Partnership (PPPs) projects.

Valuation of R&D Projects

Research and development (R&D) projects have a large number of uncertainties and options involved. This line of research aims to create models for the valuation of this class of projects through the methodology of real options.

Energy Finance

The study of financial analysis tools enable a wider understanding of energy market dynamic, as well as energy companies. This line of research is focus on risk analysis, uncertainty and flexibility in energy projects.

Electric Power Management

The organization, technology and environmental issues related to the electricity industry and its segments of generation, transmission, distribution and trading have presented several transformations, such as privatization, creation of electricity markets, technological and regulatory improvements. This line of research seeks to analyze the impact of these changes for managers and investors in the electricity sector.

Risk Management and Optimization Models

This line of research seeks to assist companies to model, optimize and manage risks involved in their operations, especially in the energy sector.

Decision Analysis Methods

Business decision analysis is crucial to the creation of shareholder value. This line of research studies modeling, development and application of management tools available to managers.

Real Option Valuation

There are several classes of projects where managerial flexibilities represent a considerable portion of business value. This research addresses the problem of identifying and pricing flexibilities through real options methods, especially in energy and infrastructure sector.

Applications of Block Chain Technology to Financial Markets

Block chain is a technology that allows the operation of virtual currencies such as Bitcoin, Ether and Zcash. It has important applications in the financial markets with the potential to reduce transaction costs, allow financial disintermediation andintelligent and self executable contracts, while providing a public ledger with a traceable registry of transactions.