The Summary worksheet provides a concise dashboard for the project, with organized tables, summary financial statements, charts and metrics useful for use in investor and lender presentations. Information is organized as follows:
- Key Project Information – High-level information such as capacity and capacity factor, project leverage, etc.
- Sources and Uses – Balanced S&U table listing all sources and uses of cash.
- Financial Metrics – IRR and Senior Debt metrics
- Key Dates – Important dates for construction/operations as well as senior debt, to include first disbursement, final maturity date, etc.
- Error Checks – Displays 11 separate error checks on the calculation spreadsheets to flag if custom calculations or changes to the model break core functionality. The “Master Check” flags whether if any of the 11 checks have been violated. This Master Check is displayed at the top of the AFS, QFS, and Calculations spreadsheets for reference. The Debt Calculations = Sculpted Debt error check does not trigger the Master Check, because this is not inherently problematic and can be expected under various scenario analysis. However, if you are using sculpted debt payments, if the calculated financials do not match the macro-sculpted payments, the project leverage and IRR may not be optimal.
- Summary Financials – Summary Income Statement, Balance Sheet, Cash Flow Statement, and Key Ratio analysis across the life of the project. Useful for presentation to financing parties.
- Project Spend Curve – Total project spend by month. The trendline is the cumulative spend or “s-curve”. This chart will need to be updated to reflect the number of months of construction.
- Debt Service Coverage – Annual principal and interest payments, with an annual Debt Service Coverage Ratio (DSCR) trendline. This chart will need to be updated to reflect the actual loan tenor.
- Senior Debt Amortization – Outstanding principal balance over the life of the loan. This chart will need to be updated to reflect the actual loan tenor.
- Equity Cash Flow – Total equity cash inflows and outflows (to include shareholder loans, if any). This chart will need to be updated to reflect the relevant equity investor time horizon.