Advanced Renewable Energy Financial Modeling
Become a world-class financial modeler within the renewable energy sector and push your career to the next level.
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Course Introduction
Final Model - Dashboard
Download Start File
Introduction to Start File
Technical Inputs
Scenario Selection
Shortcuts Quiz #1
General Inputs
Shortcuts Quiz #2
Timing Sheet
Model Timeline
Macroeconomics
Shortcuts Quiz #3
Project Finance - Contractual Relations
Information Memorandum
Download Checkpoint File
Uses of Funds
Sources of Funds
Shortcuts Quiz #4
Creating Checks
Checks Sheet
Depreciation Categories
Power Generation Inputs
Availability, Degradation & Seasonality
Net Power Generation
PPA & Merchant Inputs
Generation Allocation (PPA vs Merchant)
PPA & Merchant Revenue
Operational Expenditure Inputs
Operational Expenditures
MMRA Inputs
Major Maintenance Reserve Account
Decommissioning Reserve Account Inputs
Decommissioning Reserve Account
SPV Cash Reserve
Working Capital Adjustments
Accounting & Tax Depreciation
Depreciation Summary & Income Statement
Tax Inputs
Debt Financing Inputs
Linear Debt Repayment Structure
Sculpted Debt Repayment Structure
Applied Debt & Breaking Circularities
Macro Sheet
Debt Interest & Principal Macro
Debt Service Coverage Ratio
Equity Inputs
Shareholder Loan Interest & Principal
Dividends, CFS, ICS & BS
Capital Structure Macro
Master Macro
Interest Barrier
Corporate Tax
Trade Tax, Other Local Taxes & SHL Interest Macro
Unlevered Taxes
Debt Service Reserve Account
Download Checkpoint File 2
Valuation Sheet
Levered Internal Rate of Return (IRR)
Adjusting SHL Payments
Levered Net Present Value (NPV)
FCFE / Invested Equity
Payback Period
Unlevered Project Return
Unlevered Equity Return
Unlevered IRR & NPV
Unlevered FCFE / Equity & Payback Period
Developer's vs. Investor's Perspective
Enterprise Value @Target IRR Macro
Master Macro Developer's Perspective
Master Macro Investor's Perspective
Download Checkpoint File 3
Dashboard Sheet
General Project Info
Capital Structure
Valuation Summary
Revenue Metrics
Investment Ratios & Multiples
Charts Sheet
Contracted vs. Merchant Revenue Chart
FCFE / Equity Chart
Cashflow Waterfall Chart Inputs
Cashflow Waterfall Chart
Debt Service Coverage Ratio Chart
Using Different Scenarios
Download Financial Model End File
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Helping over 5,000 students excel in renewable energy & storage finance
Our students have enhanced their careers by mastering financial modeling for renewable energy & storage projects. Here are just a few of their success stories.
As someone with over a decade of experience in the renewable energy sector, I highly recommend the Renewables Valuation Analyst Certification Program by RVI. The program offers a comprehensive and practical approach to financial modeling, designed specifically for renewable energy projects. Its depth and clarity make it an invaluable resource for analysts and teams working on real renewable energy transactions.
With many years of experience in infrastructure investing, I highly recommend the RVA Certification Program to anyone working seriously in renewable energy finance. The courses go far beyond Excel mechanics and focus on how project finance models are actually built, structured, and used in real transactions. The models are intuitive, flexible, and immediately applicable — exactly what analyst teams need in practice.
Coming from a private equity and strategic finance background, I had strong financial modeling and underwriting experience but lacked direct exposure to renewable energy. The RVA Certification Program provided a clear, concise overview of how the industry works and translated that knowledge directly into building practical, project-level financial models. The content is detailed, actionable, and easy to follow, making it valuable regardless of your prior experience.
Roberto
Best Project Finance Modeling Course
I have taken the CFI and Wallstreep Prep modeling courses and have found this to be the most complete one by far. Specifically, the debt sizing and debt sculpting macro is something that even banks and financial consultants fail to do properly. The layout and focus on presentation and organization was also very important. The structure where you go along with the video modeling yourself is very helpfull. I missed this in the expert level where you just use the finished model instead of building it yourself. I would recommend adjusting the expert course to be a modelling course that takes de advanced model to the finished expert model and than you run the scenarios analysis. Best,
Marek
amazing
amazing
Nicklas
Highly recommended!
I can highly encourage everyone that is interested and / or working in Renewable Energy Finance to sign up for this course. Lukas provides with you with all the knowledge and skills necessary to build integrated and flexible financial models, that live up to the highest industry standards. He explains everything perfectly and extensively and even repeatedly shows Excel shortcuts. All in all, the perfect course! I really enjoyed it!
Ioannis
Advanced Renewable Energy Financial Modeling Review
The course is robust and well-structured, thoroughly covering the essentials of project finance modeling. The inclusion of real-world case study and practical modeling exercises significantly enhances the learning experience. Lukas Duldinger demonstrates a high level of professionalism and expertise in the field of project finance. What sets this course apart is the instructor's dedication to teaching. He is not just knowledgeable, but also genuinely committed to sharing that knowledge with students. The passion for the subject matter is evident in his teaching style, making complex concepts more accessible and engaging. As a student, I found the course to be immensely valuable. It has deepened my understanding of project finance modeling and equipped me with practical skills that I can apply in real-world scenarios. The lessons are well-paced, and the materials provided are of high quality, serving as great references for future use. This course is a testament to Lukas' expertise and dedication to education in project finance modeling. I highly recommend it to anyone looking to enhance their skills in this area. Whether you are starting from scratch or looking to deepen your existing knowledge, this course offers a wealth of information and insights that are both practical and relevant. I am grateful for the opportunity to have taken this course and for the invaluable knowledge imparted by Lukas. It's an experience that has not only enriched my understanding but also sparked a deeper interest in project finance modeling.
Simon
Outstanding Course
Lukas has assembled a very thorough educational course that enables real world financial modelling experience as well as background literature to understand the theory and practice. Given Lukas has real world experience building and implementing financial models and also understands what happens in practice it is an invaluable course for practitioners, aspiring renewable energy industry participants and anyone looking to implement best practice financial models.
VISHAL
Financial modelling
This is an excellent course. Detailed, easy to follow and very interesting. These types of courses are worth times times more than the price charged in my opinion. It would take several deals and many months of experience to be able to get this this level and it would give you the edge amongst your peers in the workplace.
Juan
Great Course
This is one of the most complete financial models I have seen and is very useful for my projects. It's really worth the investment.
Marie
Excellent course!!!
100% recommended!! Great pace to grasp everything & hands-on practice.
Abid
Great course with practical knowledge
I am working in the project finance field for a few years now and always wanted to learn how to build a project finance model from scratch. The final model is perfectly adjustable to any project and I finally learned how the financial statements work together. Thank you very much for making this knowledge available!
James
Great content for affordable price
I have learned more about project finance modeling in this online course than I did in in-person trainings my employer paid much more for... Thank you so much for putting together this fantastic course!