A study on financing mode selection of wind power enterprises based on prospect theory: A case study in China.

This article focuses on selecting an optimal financing mode for wind power enterprises to support their sustainable development amid widespread financing challenges. It develops a comprehensive evaluation index system based on expert input and literature, combining subjective (G1 method) and objective (information entropy) weighting techniques. The study constructs a decision-making model integrating prospect theory—which accounts for decision-makers' psychological risk preferences—and hesitant fuzzy set theory to handle uncertain and hesitant evaluation information. Applied to a case study of Xinjiang Goldwind Science and Technology company in China, the model ranks financial leasing as the most suitable financing mode, a result supported by sensitivity and comparative analyses demonstrating the model's robustness and advantages over existing methods. The paper highlights the importance of enterprise income and operational factors in financing decisions and suggests that the framework may also inform financing mode selection in other renewable energy sectors.