Assessing stakeholders' risk perception in public-private partnerships for waste-to-energy projects: A case study of Nepal

Waste-to-energy (W2E) technologies have emerged as a pivotal strategy for addressing two pressing global challenges: managing the mounting waste volume and pursuing sustainable energy sources through biogas, electricity, and fertilizer production. The necessity of public-private partnerships (PPP)-based W2E projects is demanding mainly owing to sole public funding investment limitations and ensuring project sustainability. However, PPP investments in W2E projects are riskier and face several challenges, particularly in the developing world. This study aimed to identify the key risk perceptions of different stakeholders, categorize, and rank them, and analyze the differences in risk perceptions between public and private stakeholders in PPP-based W2E projects in Nepal. Sixty survey samples of key stakeholders were analyzed using the analytical hierarchical process (AHP) methodology. Four major risks were identified, and financial and market risks were the most critical risks for the public (32.6 %) and private sectors (56.2 %). Revenue, operational and supply chain, and private investment risks were the top three ranked sub-risks. These risks were differently perceived in the two PPP models, with municipal W2E riskier than agro-industry-based W2E. Thus, risk-minimization measures based on policy implications are recommended for sustainable W2E projects. •Risks are analyzed on public private partnerships in waste-to-energy projects.•Four major risks and eighteen sub-risk categories are identified by the AHP method.•Financial & market risks are found critical (public-32.6 %; private-56.2 %) in Nepal.•Risk mitigation measures and policy implications for sustainability are suggested.