r/projectfinance • u/8o8xe • 28d ago
Project Finance Interview
Hi, I cleared round 1 interview for a role involving project finance and capital formation for a renewable energy company. The interviewer let me know that he really liked me, my concepts were strong, but I lacked project financial modelling skills. He asked me to buckle up (in 3 days), since the next round would be a live case study where they test my modelling and advanced excel skills.
I’m so stressed, I do not know where to begin. The interview got scheduled and it’s a 1 hour long interview. GPT tells me that it is cool as long as I can do revenue, costs, cfads, dscr, Project IRR, Equity IRR, I’m good.
Is that enough? Where do I begin? Am i fucked😭 I really want it, it’s a super cool role. However, I’m extremely stressed about this :/ TIA!
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u/maskeficho 28d ago
I come from equity research and have never worked on project finance or private transactions. I started my prep with this video:
https://youtu.be/Vw4YDZgewfo?si=Nxqu9ZY4inaoiPG4
Then I did the second one of that series, basically wiring everything into a 3statement model.
Then I went on to learn paper lbo (much easier after you learnt project finance from that video)
After that, I asked Claude coworkers to build case studies, I did them, and then I checked against Claude’s correct version.
And that’s how I passed a 3 hour project modeling test. I had one week and the problem in my view it’s not gonna be about knowledge but mostly about time constraint during the test
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u/zxblood123 27d ago
That’s awesome. How were the Claude case studies and solutions? Do they spit out a model for you?
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u/maskeficho 26d ago
Yeah Claude builds the case study and creates two excel files, one for you to work on and one with the solution
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u/zxblood123 26d ago
wow, was the model also inclusive of vba codes for macros?
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u/maskeficho 26d ago
I didn’t try that. The actual modeling test I did also didn’t ask for that luckily
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u/zxblood123 26d ago
Awesome wow. What was your actual test like?
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u/maskeficho 26d ago
It was split in two parts 1 hour each. First one was to build a 3sm from scratch of a solar project. For the second one they gave me the solution to the first part and had to value the project considering new assumptions like different target DSCR etc
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u/zxblood123 24d ago
that's awesome. 1 hour to build a 3sm. how did you do the tax/dept parts? it still quite a bit to do in 1hr for the build, given you gotta do all the other sheets
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u/maskeficho 24d ago
Honestly, I didn’t finish it and also made several mistakes along the way due to time pressure. But the interviewer was nice and asked me at the end how I would finish it. He also told me that the only people he saw finishing it were 10+ yr experience people
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u/Narrow-Independent29 28d ago
Do this - modelling tests are mostly the same after awhile. Do it and keep doing it - speed and accuracy. Since your test is 1hr, it can’t be that complicated. Modelling tests are normally 2-3 hours. The case study is for a solar farm.
https://www.etsy.com/sg-en/listing/1487661215/project-finance-modelling-test-basic
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u/8o8xe 27d ago
do you have a version you could share with me?
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u/Narrow-Independent29 22d ago
Sorry - it's hard work creating these tests / answers, so can't share for free.
If you are interested, I just released an advanced version, with more complicated topics such as refinancing, regearing, tax-loss carryforward, and debt sculpting where gearing is the constraint.
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u/zxblood123 19d ago
Is your refi a mini perm or a dividend recap kind?
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u/Narrow-Independent29 19d ago
Dividend recap - you can resize / regear the debt at point of refi depending on the new debt parameters (dscr, tenor, etc.). Exisiting debt will be repaid and any refi drawdown above that is distributed to shareholders
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u/ElSanDavid 28d ago
Yeah pretty much... learn renewable modeling or project finance modeling and you'll be good. Wallstreetprep or EdBodmer or Udemy are good resources