This course will give you a hands-on practical opportunity to complete a Wind Farm financing model. With a focus on instructional best practices, this course will cover key project finance concepts such as risk transfer, debt and equity sizing, cash flows and reserves and many more. This course will give you the tools to feel confident to succeed in project finance.

Upon completion, you will be able to:

• Efficiently structure a model, focusing on tab order, layout, model schedules, the model audit tab, and periodicity/granularity considerations. 
• Implement a version control system, including input and scenario management.
• Apply techniques for modelling timing and indexation, covering advanced date functions and binary/flag modelling structures.
• Model the construction period and funding requirements, including capital costs, interest during construction, and other uses.
• Understand different financing sources and profiles, such as bond debt, bank debt, and equity.  
• Size debt and equity, based on sculpted debt repayment profiles.
• Model the operations period, encompassing revenues, expenses, and the calculation of Cash Flows Available for Debt Service (CFADS).
• Apply a Cashflow Waterfall to calculate and depict the priority of cash flows post-funding requirement.
• Assess project risk and the incorporation of reserve accounts, such as Debt Service Reserve Account (DSRA), Major Maintenance Reserve Account (MMRA), and Equity Lock-Up Accounts.
• Understand circularity and the pros and cons of Excel iteration/circuit breakers, as well as the use of macros/VBA.
• Utilize advanced VBA techniques, including copy-paste macros and scenario saving/loading.
• Analyze financial statements and outputs, with a focus on the income statement, balance sheet, and both project and equity Internal Rate of Return (IRR).
• Review depreciation methods, including efficient and compact depreciation pools.
• Explore tax considerations (tax-loss carryforwards, etc.)

What you will receive:

• All the worksheets, checklists and forms in Microsoft® Excel template format.
• Complete a Wind Farm financing model and receive detailed feedback on your materials to help improve your output.