Part 01
Project Riverbend: one ordinary solar deal, built properly
Most project finance content is about structure.
Writing
Notes from the model and the meter
Articles on energy efficiency, electricity tariffs, solar and storage, and the finance behind energy projects. Most start life as LinkedIn posts with a carousel.
Series 10 parts
Riverbend Solar
Ten posts, one fictional 50 MW solar deal, the mechanics a lender-ready model has to get right.
An illustrative case study: a fictional deal with no real counterparty. Each part has a carousel PDF. The results are collected by lens in the Riverbend case study.
Part 02
From sunlight to CFADS, and the price in between
Every ratio a lender tests starts with one line: how much energy the plant sells, at what price.
Part 03
The 18 months before the first kWh
Before a plant earns anything, the model has to answer three questions: how much money, from whom, and when.
Part 05
Interest: ZARONIA, the margin and the swap
Riverbend's loan floats on ZARONIA, the rand overnight rate that replaces JIBAR, so the model prices every period from its parts.
Part 07
Section 12B and the assessed loss
Section 12B lets a solar plant above 1 MW deduct the cost of its qualifying assets over three years: 50%, 30%, 20%.
Part 10
One run to the full document set
The last mechanic is the one that saves the most time: every output comes from the same run.