A project-finance decision tool for offshore wind: valuation, debt sizing, a 25-year cash flow and covenant stress tests — that tells you which variable to change to make a deal bankable. It runs entirely in your browser.
Quick tour — the baseline rejects, then the tool walks through the cheapest fix and the scenario report.
Drag any input — capacity, capital cost, PPA price, cost of capital — and the whole model recomputes in place. The compare table shows the delta against your chosen baseline, the verdict chips explain why the deal passes or fails, and the advisor answers the one question that matters: what is the cheapest change that makes this investable?
A project-finance model decides whether a wind farm is bankable before a single turbine is ordered — yet the outputs live in static spreadsheets that are hard to interrogate. I rebuilt the three-pillar framework (valuation · financing · risk) as a live, zero-dependency tool: wind-driven revenue, debt sized by the DSCR covenant rather than a fixed gearing target, annuity repayment, WACC discounting and tax, then a covenant + stress view on P50/P90. The catch for the user: the base case itself fails, so the tool must not just report numbers but say what to move.
| Attribute | Value |
|---|---|
| Model | Three-pillar project finance — valuation · financing · risk |
| Reference case | Sample 600 MW test baseline (not a real project) |
| Debt sizing | DSCR-driven (P50/P90) with annuity repayment — not a fixed gearing assumption |
| Outputs | NPV · Project IRR · LCOE · WACC · Debt/equity · DSCR@P50/P90 · Equity IRR · 25-yr cash flow |
| Advisory engine | Five bankability gates · smallest single-lever fix per failing gate · locked-input preferences (timeline & cost of debt fixed) |
| Comparison | Save your own baseline · scenario compare with “best-in-terms-of” ranking · CSV report export |
| Runtime | 100% client-side · zero dependencies · no build step |
The mechanics mirror standard project finance. Annual repayment is an annuity over the ten-year tenor, so the debt schedule is stable and the DSCR never steps up — instead, the maximum debt size is solved backwards from the DSCR@P90 covenant (the P90 stress, not the P50 case, is what the bank underwrites). Equity IRR is then computed on the residual equity; WACC reflects the debt/equity split and the tax shield. Because tenors are longer than typical comparables, the interest coverage is structurally tight — which is exactly the pressure the tool is built to surface visually.
The model doesn't stop at the verdict — it converts a failing base case into a concrete, cheapest-path plan of action.
NPV is negative and equity returns sit below the cost of equity — the deal fails on its own merits.
Raising capacity 600 → 618 MW is the single cheapest lever that clears NPV, LCOE and Project IRR together.
Clearing the 12% hurdle needs ~699 MW or a PPA at ~116.5 USD/MWh — either fix satisfies it.
Project timeline and cost of debt are locked as fixed preferences — the advisor never suggests moving them.
Save scenarios, rank them “best in terms of” NPV, IRR, DSCR or LCOE, and export a comparison report with per-scenario diagnostics.