Hey everyone!
I was wondering if there is an energy banker here who can explain to me the difference between a Project Finance valuation of a solar plant and a wind plant.
I did not find a financial model on the topic so if somebody has some materials, I would love to see them.
Thanks!
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I did some research on the topic for interviews a few months back. I remember seeing some good videos on youtube from the channel Pivotal180 among some other videos. It took a while to snoop around until I actually knew what I was looking for. I think being able to understand the concepts like PPA's, usage rates (like PV solar using a certain % of capacity) and fluctuation sensitivities. It seemed like much of it was a lot of excel macros for investment decisions. Someone correct me if I'm wrong, I'm also interested to see what others have to say.
Message me.
Just did! Thanks!
For valuation purposes its the same - look at the PPAs, merchant vs contracted cash flows, and then assign different discount rates depending on that + geography, lifecycle (planning vs construction vs operating), and technology.
Basically you’re just building up to a 20+ year DCF, oftentimes with no terminal value.
PF bankers don’t do valuation, but they do layer on the financing that affects levered IRR. Financing for solar vs wind is a whole other topic.
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