Project Finance Model — Excel Template with DSCR Debt Sizing & IRR

This Excel-based Project Finance Model provides a construction-to-operations cash flow framework for infrastructure and capital-intensive projects. From your capex, timeline, and revenue inputs, it builds a year-by-year timeline covering construction and operations, sizes project debt using a DSCR (debt service coverage ratio) approach, and generates a mortgage-style amortization schedule with interest, principal, and balance each period.

It then calculates Project IRR, NPV, and minimum and average DSCR, so you can see whether the project clears its covenant thresholds. A Dashboard surfaces these KPIs with charts, and a two-way Sensitivity Analysis stress-tests NPV and IRR against construction cost overruns, revenue escalation, interest rate movements, and operating cost inflation.

Who It Is For

Built for:

• Project finance analysts,

• Infrastructure investors,

• Corporate development teams evaluating capital projects funded with non-recourse debt,

• Lenders and credit teams testing DSCR coverage under different scenarios,

• Consultants preparing financing memos or investment committee papers.

With every assumption isolated in clearly marked input cells, it also works as a teaching tool for learning how construction risk, debt sizing, and returns interact.

What Is Included

The workbook follows the BK Finance Models Playbook v3.0 architecture across nine sheets:

• Cover,

• Instructions with usage guidance and colour legend,

• Assumptions for global settings,

• Inputs for construction, revenue, cost, and financing parameters,

• Calculations engine running the full timeline with debt schedule and DSCR,

• Dashboard with KPIs and charts,

• Sensitivity sheet with data tables,

• Checks sheet with automated validation tests,

• Version History.