Project Finance Masterclass

Course Start Date: 30th July

Training Duration: 5 Days

Practical application through exercises:

  • Excel Exercises
  • Case Studies

Learning Outcomes


Understand types of financial and non – financial risks of a project and their possible mitigation


Learn the different financial metrics used to evaluate a project finance deal


Apply advanced excel tools in project feasibility modeling

Perform scenario and sensitivity analysis in a project finance model

Course Outlines

  • What is project finance? 
  • Difference between project finance and traditional finance
  • What are the advantages and disadvantages of Project Finance 
  • Various phases of the project
  • Structure of a project finance transaction 
  • Various Risks associated in project finance and their mitigation
  • What are the sources of financing? 
  • What are the loan repayment types? 
  • Key Attributes for Refinancing
  • Cash Flow Available for Debt Servicing (CFADS)
  • Debt Servicing Reserve Account (DSRA)

Key Project Finance Evaluation KPIs:

  1. Debt service coverage ratio (DSCR)
  2. Loan life coverage ratio (LLCR)
  3. Project life coverage ratio (PLCR)
  4. Equity IRR
  5. Project IRR
  • Input sheet and assumptions
  • Build a flexible timing structure using timing flags
  • EPC and Capital expenditure schedule
  • Revenue, operational and maintenance expenditures
  • Developing and integrating project’s Income Statement, Balance Sheet and Cash Flow Statements
  • Forecasting debt repayment and interest schedule (For different types of debt structure)
  • Interest during construction & controlling circular referencing
  • Repayment waterfall
  • Modelling for Debt Covenants, Building mode –  wise error checks
  • NPV and IRR for different sponsors and investors in the project
  • DSRA
  • Performing one or two variable data table sensitivity analysis for key project inputs
  • Performing scenario analysis by changing multiple project inputs and evaluating the impact on key model outputs

Case Study2 : The delegates will develop a fully integrated and flexible project finance model for a Solar Power Project