SPECIFICATION
Model specification.
A closer look at the five areas of the model — from raw assumptions through to the investor-ready output dashboard.
Operations
Operating assumptions & calculations
- Monthly modelling over the entire project lifecycle
- Fully integrated financials (P&L, balance sheet and cash flow)
- PPA or merchant offtake
- Up to 16 opex positions (variable costs, fixed costs)
- Simplified tax and dividend calculations
Financing
Financing assumptions & calculations
- Term loan and project equity
- Annual, semi-annual or quarterly repayment profile
- Pro-rata, debt first and equity first drawdown logics
- DSRA & MRA modelled
Debt
Debt sizing & sculpting
- Debt sizing based on target DSCR and term loan size cap
- Repayment profiles sculpted on flat target DSCR
- Upfront/arrangement fees, commitment fees and interest during construction considered
- Iterative debt sizing calculation to resolve circularity transparently (VBA macro)
Sensitivity Cockpit
Sensitivity cockpit
- Debt sizing case to calculate debt sculpting
- Sensitivity cases to evaluate effect of changing inputs on DSCR and LLCR
- Covered parameters: production yield, degradation, market price curve, revenues, opex, PPA
Outputs
Output dashboard
- Energy production, revenue and opex over project lifetime
- P&L (EBITDA, EBIT, Net income) and balance sheet
- Sources & Uses table
- Project IRR, Equity IRR and Project NPV
- CFADS and Covenants
