Infrastructure Development Model


Infrastructure Development Model


This is a financial model in Excel for use by infrastructure developers.

Use this model to:

  • learn the professional secrets of infrastructure development

  • develop the project

  • appraise the project for viability (with project return)

  • appraise the project for revenue requirement

  • appraise the project for equity and debt capacity


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“With this tool we have the accepted standard for developing infrastructure. Now we can concentrate on the operational piece and add it in.”

A leading UK and international renewable infrastructure developer.


  • Appraise the project for revenue requirement

  • Appraise the project for debt capacity and equity requirement

  • Appraise the project viability with project return

  • Appraise the project viability with investor hurdle return

  • Run quick sensitivities to establish detailed difference analysis


  • 4 development cost categories

  • 13 construction expenditure categories

  • 3 asset classes for accounting purposes

  • 1 asset class for finance costs during construction

  • Volume x price x indexation revenue modelling

  • Operating costs with indexation

  • Life cycle expenditure

  • Working capital functionality

  • Corporation tax functionality

  • Tax losses functionality

  • Equity and debt financing with input gearing and debt terms

  • Monthly timeline for development & construction

  • Quarterly timeline for operations

  • Model convergence with VBA macros, including:

    • Converge construction funding

    • Converge debt sculpting

  • Cover ratio efficiency factor for matching input and output cover ratios during debt sculpting

  • Reporting:

    • Full quarterly financial statements

    • Sources and uses at financing

    • Project returns

    • Cover ratios, including Annual Debt Service Cover Ratio (ADSCR), Loan Life Cover Ratio (LLCR) and Project Life Cover Ratio (PLCR)

    • Shareholder returns

    • NPVs of revenues, costs, capital expenditure, dividends and corporation tax

    • Nominal lender return

  • Written to FAST standard

  • Includes all standard FAST functionality including:

    • Sensitivity analysis reporting

    • Ref & Diff sheets

    • Track sheet

    • Check sheet

    • Control Panel

Included in the price

  • The downloaded Excel model

  • A detailed User Manual in PDF format

  • The Lazuli Solutions Excel Add-In with useful functionality (*)

  • The “See-Through Modelling” book for detailed description of the model language and logic (*)

Contact & more information

To claim the software and book (*), or for more information, contact Dominic Robertson at Lazuli Solutions at or call +44 20 3151 4799