Tax Equity Flip Pro Forma
Infrastructure Excel Template (Free Download)
Turn project cash flow, tax benefits, allocations, and flip thresholds into a projected tax-equity transaction output.
professionals from Deloitte
About this pro forma
This pro forma projects how investment tax credits, production tax credits, depreciation, and operating cash flow are allocated between tax equity and sponsor investors. Pre-flip tax benefits and post-flip cash economics remain distinct.
The underlying Excel model is the waterfall engine; this pro forma is the projected decision output for returns, sponsor value, credit allocation, and project NPV.
What every model includes
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
What's inside the Tax Equity Flip Pro Forma
- Projected ITC, PTC, depreciation, and operating cash allocations
- Pre-flip and post-flip ownership and distribution output
- IRR, equity multiple, and return metrics by tranche
- Flip-threshold and allocation sensitivity outputs
- Sponsor cash flow, project NPV, and residual value
- Tax-equity and sponsor economics for institutional review
Formatted to IB standards
Named theme colors repaint the whole workbook in one click, on top of an investment-banking structure with clear input, output, and cross-sheet reference styling - brand-ready, institutional-grade, and fully auditable.
Created by ex-finance professionals
Hey, I’m Alex and I created Finamodel.
Over my years in the finance industry I kept building the same models over and over again. Same structure, same assumptions, different logo. So I started building frameworks to turn them into clean, reusable templates.
Every model here is one I’d actually use for a client, and I personally vet each one before it goes up.
I’m not an expert in every industry, but I’ve built enough models to know what belongs in one. And when something is completely foreign to me, I reach out to my network for experts to work on our models with us.
Having a template library on hand cuts a first build from hours to minutes.
Need help finding your model? You’ll find me in the Finamodel app!
Frequently asked
What does this tax-equity pro forma project?+
It projects tax benefits, cash allocations, flip timing, returns, sponsor value, and NPV.
Which tax benefits are included?+
ITCs, PTCs, and depreciation are tracked separately.
Can I change the flip threshold?+
Yes. Return thresholds can be flexed to show allocation timing.
Who uses this pro forma?+
Developers, tax-equity investors, sponsors, and advisors can review economics.
Have more financial modelling questions? Contact us
Related pro formas
Renewable Energy Pro Forma
Solar, wind, or hydro project generation, power purchase agreements, operating costs, and project IRR.
Project Finance Sculpting Pro Forma
Optimized debt schedules, amortization profiles, and DSCR tailoring for project finance and infrastructure loans.
Infrastructure Concession Pro Forma
Concession agreement model for toll roads, airports, and ports including traffic/volume forecasts, tariff escalation, and equity returns.
Fibre Network Pro Forma
Capital and financial model for fiber optic network buildout with capex, subscribers, and ARPU.
