Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
  • Solar PV Project Finance Excel Model
Originally published: 21/12/2018 12:23
Publication number: ELQ-60494-1
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Solar PV Project Finance Excel Model

This tool enables quantitative assessment of the value of a project finance solar PV project from different perspective

ed bodmerexcelfinancial modelindependent power producerippproject financerenewablesolar

Description
This Solar PV (photovoltaic) Project Finance Excel Model Template was created in Microsoft Excel and consists of 32 separate sheets.

The Model’s building blocks are distributed between preliminary sheets, input sheets, calculation sheets and output sheets.

Model inputs

The input in the Model can be found on the following sheets:
=> InputC: All constant inputs
=> InputS: All Time-based Inputs
=> Sens: All Sensitivity Parameters
A PDF version of the inputs is available for download.

Model Outputs

Lenders and Credit analysis
Lenders main concern is whether the future cash flows of the project are sufficient to fund operating costs and the debt service. The following metrics can answer these questions:
DSCR – debt service coverage ratio
Maximum, minimum and average Periodic Senior DSCR
Maximum, minimum and average 12 months backward looking Senior DSCR
Maximum, minimum and average 12 months forward looking Senior DSCR
Investor Return
Relevant metrics to measure the underlying return to up to two investors.
Equity IRR
Equity NPV

A PDF version of the summary and integrated financial statement sheets is available for download

Questions answered by “Solar PV Project Finance Model”

• What is the optimum partnership between two investors investing development capital?
• What are the options to consider for development fees? Fixed fees? A multiple of the development capital or a fixed percentage of the total project?
• What is the impact of receiving the development fees in different tranches during construction or even beyond construction (during operation)?
• To what extent it is proposed that development fees earned to be reinvested as equity in the SPV or to be distributed out to the coventurers?
• What are the expected return to project developers?
• What are the expected return to equity providers?
• Does cash flow meet debt service requirements?

Model functionality
In order to operate the Model, please ensure that the VBA add-ins are enabled.

There is a dedicated sheet labelled "Macro" for calculation of circular items in the model.

This sheet in strictly related to model functionality.

Here two alternative ways are modelled for solving the circular reference problem.

From the user's point of view, it does not make any difference what code is written behind the scene and it terms of model functionality, method 1 is more user friendly.

However, today (2018) the common method deployed by most financial modellers is the copy and paste macro and financial model auditors are used to the traditional copy and paste method.
although it is strongly recommended to always use the UDF method, but "Copy and Paste" method is also modelled in case at some point in time, it is required to switch back to the traditional method.

Method 1: USER DEFINED FUNCTION

This is a method developed by Edward Bodmer (for more check edbodmer.com )
A structured approach that can solve any circular reference problem.
This is the method that is most documented and it involves re-programming equations in excel that result in circularity.
This method keeps the model more flexible and enable scenario analyses and goal seeks with no waiting time for any optimisations.

Method 2: COPY AND PASTE

The copy and paste macro copies the computed line items that are causing circularity and pastes them as fixed (hard-coded) values.
Every time an input is changed, the user should run the copy and paste macro.

This business tool includes
2 PDF files and 1 Excel file

Acquire business license for $500.00

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Further information

This tool enables quantitative assessment of the value of a project finance solar project from different perspective

Project finance. Renewable project

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  • Jeff Simpson
    have similar model for Australian market - are you interested in me modifying your model to accommodate the Australian market incl battery storage jeff.simpson@giadvisory.com.au
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