Training Courses
Financial Modelling for Renewable Energy and Battery Storage Projects
Generation profiles, PPA and merchant revenue, and the incentives behind returns. Transform a best-practice financial model into a robust, scalable model for solar energy and battery storage assets, covering debt sizing, repowering economics and battery revenue stacking.
See dates & pricesSend enquiry- 2 daysPractitioner-led
- Hands-onYou build the model,
not watch one being built - In person or digitalDelivered in person
and worldwide online - Take awayThe completed model files
and templates
Who this is for
For solar and battery storage project teams
This course is built for developers, investors and lenders who need to take a best-practice financial model and extend it into a robust, transaction-ready model for solar energy and battery storage assets, including repowering and revenue stacking.
The course builds on an existing best-practice modelling foundation rather than teaching one from scratch. If you have not built a project finance model before, start with Best Practice Project Finance Modelling first.
You will get the most from this course if
- You already build or review project finance models and want sector-specific renewable energy and battery storage technique
- You need to model generation risk: transmission losses, curtailment, degradation and exceedance generation profiles
- You need to size debt, sculpt repayments and evaluate repowering or battery storage investment cases
- You want practical, market-accepted approaches, not just theory
What you will learn
From generation risk to a transaction-ready model
Seven modules extend a best-practice model into one built specifically for solar energy and battery storage: generation risk, flexible funding, revenue structures, debt sizing, LCoE and scenario management.
Re-examine the modelling methodology
- Refresh the core principles underpinning our financial modelling methodology before extending it into renewable energy and battery storage technique
Project lifecycle and generation risk
- An introduction to renewable energy projects and the project lifecycle
- The fundamentals of transmission losses, economic curtailment and degradation
- Integrate the financial model with multi-probability exceedance generation profiles
Funding flexibility and financial performance
- Extend the standard equity-first drawdown method to a flexible funding structure with a pro-rata drawdown approach
- Explore techniques for an efficient extension of the drawdown method
- Incorporate partial operations and pre-completion revenues into existing revenue streams, and analyse their impact on financial performance
Construction delay and revenue analysis
- Master integrating construction delay scenarios with liquidated damages
- Model and analyse contracted and uncontracted revenues during the full operations phase of solar assets
- Define a PPA as black only, green only or bundled, and switch contracted amounts between a percentage of generation and a manual target profile
- Understand and add battery energy storage revenues to the financial model
Cash flow, debt sizing and battery strategy
- Incorporate maintenance capex and major maintenance reserve accounts, aligned with the strength of cash flows
- Use VBA to freeze debt size and repayment profile based on the P90 generation profile
- Explore battery energy storage’s role in revenue stacking, load shifting, curtailment reduction and energy arbitrage
Transaction-ready debt analysis and LCoE
- Learn market-accepted approaches to debt sculpting in a renewable energy context, and how this compares to other industries
- Prepare transparent debt sculpting based on target ratios for both contracted and uncontracted revenue streams
- Learn to model levelised cost of electricity (LCoE) for comparing assets across technologies
Scenario management for renewable energy
- Expand a standard scenario manager for repowering analysis: model upgrade capex with a production uplift in a future year
- Build rapid sensitivity analysis for curtailment or power price forecast changes
- Model construction delay from connection issues with a dedicated timing phase, and calculate additional payments such as liquidated damages over that period
Next available dates
Upcoming courses
How the course runs
You learn modelling by modelling
Interactive, instructor-led and built on a single modelling standard that has been taught to more than 20,000 people. You build the model yourself with individual coaching through every exercise, and you keep the completed files.
This course also runs privately: see in-house training for delivery built around your team and sector, or browse the full course portfolio.
Our trainers
Learn from a practitioner
Our courses are led by experienced members of our financial modelling and model audit teams. The trainers below run this course frequently, but your session could be led by any member of our team.
Joshua Grimm
Director, Singapore
Joshua leads the development and delivery of financial modelling training courses for Forvis Mazars in Asia. His expertise covers areas such as project finance modelling for large-scale renewable energy, utilities and infrastructure projects, as well as corporate finance modelling for M&A transactions and internal FP&A. He has supported clients with their projects from feasibility through financial close, all the way to operations.
Hitansh Doda
Director, Sydney
Hitansh is a professional model builder for Forvis Mazars, with extensive experience in financial model building and development across infrastructure finance and other diverse sectors. He focuses on financial modelling and analysis of renewable energy assets and infrastructure projects.
Leigh Tomlinson
Director, London
Leigh is an ACA chartered accountant with over 16 years of financial modelling experience. He has a wide range of sector and international deal experience, and is responsible for leading the development of financial models across the energy, infrastructure and environment sectors.
Book this course
Dates, prices and online booking are on the course schedule. Not sure it is the right course? Ask us.
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