Multi criteria analysis with regards to selecting optimal absorbent supply option to Ugljevik thermal power plant

Concept of sustainable development implies an effective long-term development, both in developed and developing countries, and must be based on three pillars: environmental protection, economic development and social cohesion, both on the state and on a global level. This clear definition of sustainable development suggests a necessity of a combined action on environmental protection, economic development and the achievement of social cohesion. As a rule, by investing in environmental protection projects, power generation companies implement previously defined growth targets, development policies, and business strategies. Investment projects for the given coal type are considered as the capital ones, for they use great financial resources, significant resources and are long-lasting. The companies untertake investing in such projects to be affirmed in the new business environment, adapt to anticipated changes or to overcome the handicaps of their current position and thus adjust their production capabilities with the opportunities offered by the market. All the above implies that environmentally based capital project investments are the prerequisite of existence, sustainable growth and the acquisition of competitive advantages. However, investing in such projects is a very complex process comprised of multidimensional testing activities of all relevant determinants of future conditions and changes that the project entails. Bearing in mind that such projects are associated with the company's strategic development objectives, in the realization of such projects all the internal and external factors of development shall be taken into account, as well as a number of constraints arising from the socio-economic environment. nema