Project Finance Modelling

Project Finance Modelling Course

Advanced financial modelling taught using best practice principles

Project Finance Modelling will teach you how to build a financial model to evaluate equity returns and secure non-recourse debt (known as project finance). On completing the course, you will have built a fully-functional financial model covering the period from the beginning of construction through to the end of the project’s operating period.

After attending the course you will receive access to the online version of the course to help you implement what you learned in the classroom. Online access and post-course support is ongoing.

Our public courses are run in London, Edinburgh, Dublin, Frankfurt and Dubai. The course is also available live online via Live Online Tuition.

Book and pay online for your place below, or contact us to request an invoice.

What you will learn?

We will apply general business and non-recourse finance theory to build a cash flow forecast appropriate for the financing of greenfield projects and special purpose vehicles (“SPVs”). You will build a model that evaluates equity returns and may be used to negotiate and secure non-recourse debt through a process of model optimisation.

On completing the course, you will have built for yourself a fully-functional financial model covering the period from the beginning of construction through to the end of the project’s operating period.

Who should attend?

Our Project Finance Modelling training is designed for professionals who need to build, modify and understand financial models associated with project finance and other infrastructure-related transactions (including PPP/PFI projects).

The course is designed for analysts and managers with some modelling experience who have responsibility within their organisations for developing or maintaining project finance models. Many of our participants benefit from completing our Best Practice Financial Modelling course (either online or in the classroom) in preparation for this more advanced financial modelling course.

If you would like to do the course online, you can find an online-specific brochure and details here.

Book your course

Change currency

Date

Format

Location

Duration

Instructor

Price

7 & 8 Jun

Classroom Based

Dubai

2 days

Omar Shaker

$2,354

FULLY BOOKED

29 & 30 Jun

Classroom Based

London

2 days

Andrew Berkley

$2,354

3, 4 & 5 Jul (9am-5pm London time)

Live Online

live online

12 sessions

Andrew Berkley

$1,976

11 & 12 Jul

Classroom Based

Frankfurt

2 days

Mark Ringrose

$2,354

6 & 7 Sep

Classroom Based

Dubai

2 days

Omar Shaker

$2,354

21 & 22 Sep

Classroom Based

London

2 days

Andrew Berkley

$2,354

3, 4 & 5 Oct (9am-5pm Dubai time)

Live Online

live online

12 sessions

Omar Shaker

$1,976

Any

Video Based

online

25 hours approx.

Andrew Berkley

$737

As requested

In House

As requested

Any

$ - Variable

Course topics

Model design Drawdown phase

Construction period expenditure
Sources and uses of funds
Drawdown of senior debt and equity

Senior debt interest and fees during construction

Arrangement fee, commitment fee and interest
Applying day conventions to interest
Understanding model periods and debt balances

Drawdown phase circularity

Concept of drawdown phase circularity
Creating the circularity and solving manually
Creating a macro to solve the circularity

Transition from drawdown phase to repayment phase Repayment phase: senior debt

Simple principal payment & interest
Debt Service Cover Ratio
Sculpted debt repayments to achieve a target DSCR
Loan Life Cover Ratio
Debt Service Reserve Account

Repayment phase: equity

Dividends
Shareholder returns

Financial statements

Integration of the financial statements
Using double entry to balance the balance sheet

Model optimisation

Assessing optimisation using a Track sheet
Optimisation for gearing / leverage
Optimisation for DSCR
Impact of changes to tenor

Refining the funding solution

Assessing the impact of adding a shareholder loan

Running post-close sensitivities

Fixing the repayment profile
Running and rationalising sensitivities

Find out more:

DOWNLOAD COURSE BROCHURE

Would you like us to come to you?

We can bring our Project Finance Modelling Course to you. Expert teams delivering training at a date and place convenient for the group. Discussions can be tailored to suit the participants and course content tweaked accordingly. Train a group at the same time with no distractions, making it easier to implement project finance modelling best practice.

I use my new found skills on a daily basis and can’t speak highly enough of the course and what it has given myself and my colleague. It has changed how we do all of our modelling in the company and has received really positive feedback from everyone that has used the model or reviewed the model.

Sally Brierley, Financial Modeller, FCC Environment

We were stunned at the difference that a standardised approach made. Our new Excel models can provide information that just isn’t accessible through an ERP.

Philip Whittingham COO (and former FD), Virgin Trains

The course was great. I learned so much and really enjoyed it. I’m looking forward to using it in my own work. I would be very happy to recommend the course.

Eric Eastlund, Head of Analytics, SCIO Capital

From start to finish the team were very professional and demonstrated considerable experience in what they were doing. The end result is an exceptionally powerful tool, which is straightforward to use, and now forms the backbone to our forecasting process. I would have no hesitation in recommending F1F9.

Douglas McArthur, CA Group FD, Asset Alliance

[The instructor] was enthusiastic about the material and the course itself which created good engagement in class. I particularly liked the fact that we were consistently taking part in the course, rather than being "taught" we were facilitated.

Andrew Dias, Finance Business Partner, Stansted Airport

The Enterprise model is great value for money. We compared it to the other standard reporting systems available such as Sage and Oracle but the F1F9 solution was much cheaper and also gave us the flexibility to change the way we report our business as it grows and develops. It has halved the time our month end reporting process takes. We started out wanting a model for budgeting purposes only but when we saw what the model could do we decided to use it for actuals reporting as well as our rolling forecasts.

Charles Carolan, Senior Financial Analyst, Skrill

[The instructor] was absolutely excellent. Everything was extremely clear, the pace of the class was spot on. I thought I would come away being slightly better at reading models but actually now I would feel completely confident starting my own.

Emma Paterson, SSE/ Beatrice Offshore Windfarm Limited

The team at F1F9 were responsive, hardworking and helped us upgrade our model to be fit for purpose post acquisition. F1F9 took the time to understand our needs early in the process, met deadlines and were professional in their approach.

Investment Manager, UK Private Equity House

Thanks for the excellent academy which has so boosted my own modest modeling skills. F1F9's strong customer service culture is a big help.

Geoffrey Finch, Resident Adviser for Infrastructure Finance for the US Treasury Office of Technical Assistance - Government of Paraguay, Ministry of Finance

I particularly liked the setup of the online training, and the portions provided in each section. The ability to go back and review and exercise with the models after each training and even after a few training provided an excellent opportunity to really 'learn' the skills. The setup allowed for my own pace of learning and the time I was able to dedicate besides work to complete the training. I highly recommended the training to colleagues.

Hartmut Weissmann

Very useful tips and tricks, certainly helped me a lot in understanding and 'simplifying' the enormous models. Thank you very much!

Julie de Bock, Senior Advisory / Corporate Finance, BDO

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Participant reviews

Very good and engaging. Were able to clarify all questions.

[name not given]

July 28, 2021

Omar did an excellent job making project finance modelling simple and understandale. Also Omar brings a great energy to the sessions which was highly appreciated.

Oliver

June 28, 2021

I enjoyed the enthusiasm and expertise with which this course was instructed. Omar was good in staying on the point and keep up the pace. Varsha's clarifications by chat were useful and improved the learning experience.

T J

June 28, 2021

The course was intersting overall, but perhaps more focus on some details would be more helpful

K T

June 15, 2021

Would be good if we build on the same template that we started with as we go so that we can follow up each class. Sometimes the template was updated between classes with new elements, and we only had it after the class is done so it was difficult to create the same lines/formulas during class time.

June 15, 2021

Very useful course and the structure meets all the expected features. Thnak you, John!

[name not given]

June 15, 2021

Omar and Aditi were very helpful and willing to re-explain concepts and/or re-demonstrate the methods in excel throughout the whole training. They demonstrated in-depth knowledge about the topic and accommodated questions and clarifications. All topics were useful for me and were effectively presented. The course was able to encourage participation from the participants with its current format by providing homeworks in between sessions.

[name not given]

March 11, 2021

A short presentaton (flowcharts/diagrams)at the start on conceptual framework of the F1F9/Project Finance financial model may help for visual learners

[name not given]

March 9, 2021

Omar was excellent as an instructor as he was able to maintain participant attention all through out the seminar. His strategiesand attitude inexplaining concepts and methodsare also commendable, for one, I am a novice professionalwhe it comes to financial modelling but I was still able to get along well enough. I also appreciatethat he is open to repeatedly explainingconcepts as requested by us participants. Aditi was also excellent, she was very attentive in encoding the codes mentioned during the sessions.The completeness and conciseness of her documentations on the codes was very helpful for me specially when I attempt at the assignments during breaks. Their insights on our quite regional finance questions (in terms of asian and philippines finance practices) are also very informative. I think it would be good to have an assignment/ exercise focusing on how to construct flags. there was no assignment pertaining to this specific topics. Constructing flags , i belive, is very crucial in our financial modelling.

M C C R

March 9, 2021

Both instructor and teaching assistant were very patient. I appreciate it.

[name not given]

March 9, 2021

Overall, the instructor and teaching assistant facilitated the training effectively. Questions and clarifications raised by the training participants were sufficiently responded. All topics were deemed relevant and useful. The course format and materials are sufficient. An additional case may be provided as a practice exercise to all participants.

[name not given]

March 9, 2021

Omar was able to walk us through the training succesfullydespite the difficulty of the topic (excel and numbers). He also responds to queries of participants. Was able to explain effectively the concepts and process, especially for participants not well acquainted with finance. Maybe the training can be mixed with conceptual introduction as in building a financial model, participants should know what information are relevant and how/where they will be used. The course format is effective as the breaks were properly distributed. This kind of training cannot be given on a straight 2-3 hours session just like other online trainings I attended. It was still a little bit rushed, as I would have appreciated dwelling further on conceptual basis of financial modelling also.

Mary Ann

March 8, 2021

Omar discusses clearly. He's open to questions and takes the time to answer them. Aditi is very helpful in transcribing the shortcuts used by Omar in the Zoom chat. Online format is really a challenging method to teach the course as participants may be multitasking/distracted. Suggest to make the course more interactive, like through games, so participants would be energized.

[name not given]

March 8, 2021

Omar has excellent communication and teaching skills. Being a good financial modeller is one thing, but being able to develop the skills of other peopleis another. And I couldsay Omar is excellent at both. Aditi is fully attentive to the training sessions. Her real-time support and updates via Zoom chat are helpful. I experienced frequent disconnections due to poor Internet service, but fortunately for me Aditi is alert on the Zoom waiting room as she has always admitted me right after I request to enter the meeting room. I wish I could offer points for improvement, but none comes to mind. This training session was better than I expected. Thank you for the quality of your service! Hope I could join you in the advanced financial modelling training. Every topic was useful, and every topic was presented effectively (and efficiently, if I may add). The pacing was excellent. It was neither fast nor slow for me. I also appreciate the length of every break time as it gave us enough time to absorb the 1-hour session and to accomplish the assignment on time. If I could attend the advanced financial modelling training, I hope I could experience the same format, if not better.

[name not given]

March 5, 2021

The instructor gives constructive criticisms to assignments, is very knowledgeable on the subject, has good pacing and lively discussion, and has clear speaking voice. Format is good; it is easy for beginners to follow the discussion.

[name not given]

March 5, 2021

I didn't like that we delayed very often. It was really good that Omar and Shivangi answered all questions extensively, but because of it I had to leave early on a few occasions. Also I had planned to do the homework in the 30 min after the lesson sometimes. In this case I was not able to do the homework because of the delay.

[name not given]

January 22, 2021

I like how the instructor combined the case and own examples to explain the materials. I liked to have it online, also having the digital part of the course to refer to is key for me to use materials going forward. This reference material is essential for me.

N W

February 8, 2021

Very clear manner and good pace. Particularly helpful that the teaching assistant was operating the chat by answering questions and repeating the mentioned shortcuts there, - and that the contents of that chat was made available as part of the follow-up material.

[name not given]

January 26, 2021

[name not given]

January 22, 2021

(The instructor had) Very clear explanations, genuine motivation to help understand, impressive knowledge. The format worked perfectly for me.

Julien Vaillant, WMC Energy

January 22, 2021

Very willing to field questions and discuss, which I found very important since I already have some experience building FAST models for PF. I think breaking it into multiple Zoom sessions with small assignments between them is a good format. However, it may be easier to manage schedule-wise if broken into one session per day over many days rather than 3 sessions a day.

Brendan York, Eneco

January 28, 2021

Both were great and very supportive. I want to take other courses with both of them.

Hanan Al Zarooni

December 10, 2020

John, thank you very much for your time, understanding of our limits as a group, adaptability and positive mindset. It is not easy to teach something behind a screen and you still are very clear. Very valuable course. A big thanks to our 3 teaching assistants!

Antoine Louis

December 3, 2020

I found all the topics useful to me (particularly) the structuring of the model and the macros, since I normally do macros recording but not cleaning the code and with the structuring is much easier to follow and review once you follow the approach taught in the course. I would have liked to have it all compressed in one week fully dedicated. Having 1h lessons in the middle of the day was difficult to manage with other work responsibilities.

J G-G

November 2, 2020

[name not given]

November 2, 2020

The training approach is progressive in terms of modelling complexity which is excellent. The very last sessions were the more complex ones related to to the use of macros and the model optimisation. It would be helpful to spend more time on the to last session topics.

[name not given]

November 2, 2020

Andrew and Aroop (and Dhruv for the first session) were very competent giving this course, always giving good, relevant and simple explanations. This was really rewarding, thank you again! The format of this online course was very interesting. Having "short" (1 hour) sessions was perfect to remain focus during the whole session and having assignment to perform allows to get into practice steadily and to use what has been just learned. I think this is an efficient way to remember what is being taught.

A M

October 30, 2020

The instructor and the teaching assistant were really great, very clear in their explanations. The format of the course, exclusively digital, allows recording which is a nice point to catch up training sessions if necessary. However, since it is fully digital and cut into 3 pieces in the day (and not a full dedicated day), the course appears to be on top of a normal busy day of work -that could lead to lack of time to do the full training properly. Moreover, I was a bit frustrated not to do all the model but only some focuses on specific subjects.

A M

October 30, 2020

"Andrew was very good in explaining the concepts and answering questions. Also the assignments were useful to better understand and having a recording of the material helps to go back to check if anything needs to be repeated. The format was done online given the Covid situation but I found it very effective.

Hadi Alviri, Engie

October 30, 2020

Very much enjoyed this course - I think the pace was perfect and there was enough space for both practical insights as well as discussions on the actual commercial logic that are the basis for the financial models. I also very much enjoyed and appreciated the positivity - sometimes it was difficult to finalize the homework (on time) but there was also a positive response and helpful attitude. Thanks!

Jeroen Trimpe Burger, Rebel

October 29, 2020

Excellent training, builds up on the F1F9's base modelling course. Gives tips for various modelling options (financing; debt service metrics; etc.) Online training format is really awesome, better than classroom based one.

Victor Alexov, EBRD

October 29, 2020

T J

September 29, 2020

I think they were very clear in a subject that's very complicated. Basically what I loved about the course was the fact that the modeling was simple. Best!

Axel Versulys

September 29, 2020

Segio Luja, Engie

September 28, 2020

[name not given]

September 29, 2020

Well prepared and well educated. Knows what he is talking about and have a good way of explaining himself and his knowledge.

F K

June 16, 2020

Andrew is very enthusiastic and it triggers attention, very pleasant teacher

N G

June 16, 2020

Very helpful!

S I

June 16, 2020

From modelling perspective; very strong. Having a somewhat limited background in finance, some more background/ references to this could be helpful. Though I fully understand it's a modelling course, not for finance but perhaps as an add on?

A L

February 27, 2020

I realize that I miss some finance background. I often follow instructions without entirely understanding what I am doing. So sometimes I miss what I want to do and why, and skip right to the how. Otherwise, I really like the hands on way of learning.

A V

February 27, 2020

D B

February 27, 2020

With the speed of the course, your excel or laptop bogging down is a real problem. It is very difficult to catch up. Some little more summary breaks could help.

J B

February 27, 2020

J J

February 27, 2020

Well organised, rightly following the course objectives. Sometimes a bit chaotic when people in the room lost track of where we were.

M V

February 27, 2020

Sometimes too fast for me. Once you make a mistake, it is difficult to catch up.

P M

February 27, 2020

A H

January 30, 2020

He was kind and very helpful.

[name not given]

January 30, 2020

Very good instructions, clear model, funny, interactive and helpful. Engaged in questions and requests from students as we had a request to do a cash sweep.

M N

January 30, 2020

Andrew was friendly and helpful during the course trying to keep the audience engaged at all times. He is also knowledgeable and good communicator which were key for a successful course.

M G

January 30, 2020

Andrew is always engaging, knowledgable and enthusiastic. He took into account the attendees requests/mood, and adjusted course while remaining on top of required objectives/timeline.

S O

January 30, 2020

To add some thinking/drawing/visual information/challenge/written on board formula etc every 15-20 minutes. Sometime it is hard to keep concentration. May be speak about case study a bit more oftern during course to refresh the goal of the current model.

Y C

January 30, 2020

Our company has a unique requirement for Excel usage. The instructor was able to ask thoughtful questions and come up with a modeling scenario that matches our requirements and tasks.

J B

January 9, 2020