By the end of this course, participants will be able to:

Project Structuring

• Understand the complete project finance lifecycle and stakeholder roles.
• Build efficient contractual and financial structures for large projects.
• Design Special Purpose Vehicles (SPVs) and project agreements (EPC, O\&M, PPA, Concession, etc.).

Financial Modeling & Analysis

• Develop project finance models (inputs → calculations → outputs).
• Conduct debt sizing using DSCR, LLCR, PLCR, and sculpted repayment.
• Evaluate equity returns (IRR, NPV) and conduct sensitivity analysis.
• Conduct financial feasibility, risk-adjusted analysis, and scenario modeling.

Risk Analysis & Allocation

• Identify key project risks: construction, operation, market, political, environmental, financial.
• Allocate risk among sponsors, lenders, EPC contractors, and offtakers.
• Apply mitigation tools such as insurance, guarantees, and contractual mechanisms.

Economic & Financial Evaluation

• Prepare project budgets covering CAPEX, OPEX, contingencies, and financing costs.
• Conduct economic and social benefit assessments (EIRR vs. FIRR).
• Evaluate bankability and assess whether the project meets lender criteria.

This program is ideal for professionals involved in project development, financing, budgeting, and investment evaluation, including:

• Project Finance Analysis & Managers
• Financial Modelers & Investment Analysts
• Project Managers, Engineers & Technical Teams
• Bankers, Lenders & Credit Analysts
• PPP Specialists & Government Project Units
• Procurement & Contract Specialists
• Infrastructure, Energy & Utility Professionals
• Consultants and Advisors in financing or feasibility studies

Day 1 – Fundamentals of Project Finance & Deal Structures

Topics

• Overview of project finance and its strategic importance
• Recourse, limited recourse, and non‑recourse financing
• Project finance lifecycle and key milestones
• Special Purpose Vehicle (SPV) structure
• Key project agreements (EPC, O\&M, PPA, Fuel Supply, Concession)
• Public‑Private Partnership (PPP) models
• Stakeholder roles: lenders, sponsors, contractors, government

Workshop

• Mapping the contractual structure of an actual project (case study: power or infrastructure)

Day 2 – Risk Analysis & Risk Allocation

Topics

• Risk types across the project lifecycle: construction, operational, commercial, financial, political, ESG
• Methods for risk identification & quantification
• Principles of optimal risk allocation
• Lender perspective on bankability
• Insurance strategies and government guarantees
• Developing risk matrices and mitigation plans

Workshop

• Group exercise: Allocate risks among stakeholders & negotiate a risk-sharing framework

Day 3 – Project Financial Modeling (Core Framework)

Topics

• Structure of a project finance model
• Building revenue, cost, and cash flow lines
• CAPEX and OPEX modeling
• Financing structure: senior debt, mezzanine, equity
• Debt sizing techniques (DSCR‑based sculpting, LLCR, PLCR)
• Cash flow waterfalls and lender covenants

Workshop

• Hands‑on model building: Create the base model structure & debt sizing

Day 4 – Economic & Financial Evaluation of Projects

Topics

• Financial feasibility: NPV, IRR, payback, profitability index
• Economic feasibility: EIRR, FIRR, shadow pricing
• Budget development: CAPEX, OPEX, contingencies, escalation
• Sensitivity analysis (price, cost, interest rate, schedule)
• Scenario analysis: base, downside, upside
• Stress tests and risk-adjusted returns

Workshop

• Build and evaluate a project budget & perform sensitivity analysis

Day 5 – Project Structuring, Funding, and Financial Close

Topics

• Integrated project structuring: linking risks, contracts, and financing
• Sources of financing: commercial banks, ECAs, multilaterals (IFC, World Bank, AfDB)
• Equity structures, shareholder agreements, and investor incentives
• Negotiating term sheets and lender requirements
• Due diligence (technical, legal, financial, environmental)
• Conditions precedent and achieving financial close
• Overview of refinancing options

Final Simulation

Teams work on:

• Project structure
• Risk allocation matrix
• Mini financial model
• Economic/financial evaluation
• Presentation to “lenders” for approval

CDGA attendance certificate will be issued to all attendees completing minimum of 80% of the total course duration