Specific areas which require attention and will be covered as a part of the model:

1.Assumptions build-up (Project Start Date, Gestation Period, Project Commissioning Date etc.)

• Accommodating project delays
• Upfront capex in a phased manner

2.Building automated timeline (FY)

3.Timing and Event activation Flags (True/False)

• Operation Start Flag
• Operation Continued Flag
• Operational Year sequence counter
• Loan Repayment Flag

4.Revenue Buildup (PPA / Merchant Sale) with YoY escalation in prices

5.Capex Schedule (The journey from Capex > CWIP > PPE or Gross Fixed Assets)

6.Use of BASE Analysis (Beginning, Addition, Subtraction, Ending)

7.Amortization/Depreciation schedule

• Building depreciation calculations that stops after the book balance is fully depreciated

8.Interest during Construction (IDC) – to be capitalized

• Hard Capex vs. Soft Capex (IDC)
• Dividing Interest accrued between IDC and P/L in the year of start of operation

9.Waterfall Structure of funding

• Equity drawdown, followed by Debt and Grants

10.Incorporating Revolver Balance & Minimum Cash Balances

11.Debt schedules & repayment

12.Working Capital schedule & Linkages

13.Building iterative calculation for Interest

• Incorporating circularity switch to build a failsafe mechanism in case iteration leads to irreversible errors

14.Others: IRR, NPV, Ratios, What If Analysis, Relevant Shortcuts