Solar Project Financial Model Fix

I have a 30-year, quarterly solar-project model built in Excel that needs a careful technical tune-up. Right now the debt service coverage ratio is showing as too low and both the project-level and equity IRRs are clearly off, even though the underlying inputs look reasonable. I have already spotted some formula and linking errors, but I want a full review to be confident that every schedule, cash-flow waterfall and profitability metric is sound.

The workbook includes the usual integrated statements—income, balance sheet, cash flow—as well as debt amortisation, tax, depreciation and PPA pricing tabs. Your task is to trace the calculations, repair any breakpoints and ensure the outputs reconcile across all sheets. In particular I want you to:

• Recalculate and validate DSCR for every period.
• Correct the project and equity IRR formulas so they reflect the true cash flows.
• Confirm that quarterly cash flows roll up accurately to annual summaries and the three primary statements stay in balance.

I will consider the job complete once the model:
1. Full financial statements are fully built and consistent
2. Shows Project IRR and Equity IRR that tie back to the audited cash flows, and
3. Passes a stress test of changed assumptions without breaking circularity or balance.

Send back the amended Excel file with any key edits highlighted and a brief change log. If you automate error checks or include sensitivity toggles, that’s a bonus but not essential.