Break Into Renewable Energy Project Finance

This module establishes the foundations of project finance and explains why renewable energy projects are particularly well-suited to non-recourse and limited-recourse structures. You’ll compare project finance vs. corporate finance, understand the role of SPVs, and see how capital, risk, and cash flow move through a renewable energy project.

This module builds the core deal-level framework used in real transactions. You’ll analyze renewable energy as a distinct asset class, walk through the full project lifecycle, understand the roles of developers, lenders, tax equity investors, and offtakers, and see how risk is allocated through contracts such as PPAs, EPC agreements, and O&M contracts.

This module transitions from concepts to hands-on Excel modeling. You’ll build all core model inputs from scratch, including project timing, energy production, revenues, CapEx, construction draw schedules, OpEx, escalation, and working capital—forming the foundation of a fully integrated project finance model.

This module covers renewable energy debt financing in depth. You’ll model construction and construction-to-term loans, size debt using DSCR and LLCR, calculate CFADS, model interest during construction, reserves, fees, cash sweeps, and lender protections—reflecting how lenders underwrite real projects.

This module focuses on sponsor-level economics. You’ll calculate unlevered and levered returns, model depreciation and cost segregation, analyze before-tax vs. after-tax cash flows, incorporate developer fees, and evaluate exit assumptions—showing how equity investors assess value creation.

This module delivers a practical, modeling-driven view of U.S. renewable energy tax incentives. You’ll model ITC and PTC, understand IRA bonus credits, evaluate depreciation impacts, and see how tax credits materially alter project cash flows and returns.

This module covers advanced capital structuring used in U.S. renewable projects. You’ll model partnership flip and transfer structures, understand cash and tax allocations, evaluate flip timing, and layer back-leverage into the capital stack—highlighting risks, constraints, and real-world execution considerations.

This module brings everything together. You’ll automate outputs, run data tables and sensitivities, analyze key metrics, generate charts, and review quarterly and annual results. The course concludes with a full case study walkthrough tying modeling, structuring, and investment decision-making together.