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Master’s in Financial Structuring Engineering for Energy Projects

Online master's programme of 1,900 hours in financial structuring engineering for energy projects, structured in 12 modules covering project finance, financial modelling, debt sizing, capital structure, project contracts, risk allocation, financing documentation, hedging, new technologies, sustainable finance and taxation, and financial close, with an assigned technical tutor.

Duration1900 h
ModeOnline
LanguageEnglish
Start datesSet by the faculty
AwardSEIUM Institute diploma
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Learning outcomes

What you will be able to do

01

Understand the logic of project finance applied to energy.

02

Build financial models of energy projects.

03

Size debt using coverage criteria.

04

Design capital and investment structures.

05

Allocate risks through the project contracts.

06

Manage financial hedging.

07

Lead the process through to financial close.

Profile

Who it's for

  • Energy project finance analysts seeking a rigorous structuring framework.
  • Financial modellers who build or audit energy project models.
  • Infrastructure investment managers evaluating renewable assets.
  • Project finance advisers supporting sponsors and lenders.
  • Structured finance bankers moving into the energy sector.
  • Energy business development managers who need to make projects bankable.
  • Engineering or science graduates aiming to move into banking.
Standards & tools

What you'll work with

  • Equator Principles (EP4) (environmental and social risk framework for project finance)
  • Regulation (EU) 2020/852 (EU Taxonomy for sustainable activities)
  • Regulation (EU) 2023/2631 (European Green Bond standard)
  • IFRS 9 (financial instruments)
  • Law 15/2012 (Spanish tax measures for energy sustainability)
  • Green Loan Principles (LMA) (market standard for green loans)
  • Green Bond Principles (ICMA) (market standard for green bonds)
  • Royal Decree 960/2020 (Spanish renewable energy economic regime and auctions)
  • Excel (FAST models)
  • Python (numpy-financial)
  • Bloomberg Terminal
  • Power BI
  • @Risk
Syllabus

12 modules · 1900 h

  1. 1.1Definition and characteristics
  2. 1.2Non-recourse and limited-recourse financing
  3. 1.3Project special purpose vehicle
  4. 1.4Project parties
  5. 1.5Advantages and drawbacks
  6. 1.6History in the energy sector
  7. 1.7The project finance market in Spain
  8. 1.8Project bankability
  9. 1.9Timeline of a financing
  10. 1.10Case study: structure of a financed wind project
  1. 2.1Structure of a financial model
  2. 2.2Technical and economic assumptions
  3. 2.3Revenues and how to model them
  4. 2.4Operating costs and their indexation
  5. 2.5Taxes and depreciation
  6. 2.6Project cash flows
  7. 2.7Cash flow waterfall
  8. 2.8FAST modelling best practice
  9. 2.9Model audit
  10. 2.10Lab: financial model of a solar plant in Excel
  1. 3.1Debt service coverage ratio
  2. 3.2DSCR-based sizing
  3. 3.3Sculpted repayment profiles
  4. 3.4Debt tenor and tail
  5. 3.5P50 and P90 scenarios in sizing
  6. 3.6Loan life coverage ratio
  7. 3.7Maximum allowable gearing
  8. 3.8Sizing sensitivity
  9. 3.9Negotiating with lenders
  10. 3.10Practical exercise: debt sizing with sculpted repayment
  1. 4.1Sponsor equity
  2. 4.2Financial investors and funds
  3. 4.3Subordinated and mezzanine debt
  4. 4.4Shareholder loans
  5. 4.5Equity returns
  6. 4.6Sale of stakes
  7. 4.7Infrastructure funds
  8. 4.8Co-investment and club deals
  9. 4.9Asset rotation strategies
  10. 4.10Case study: equity returns under different structures
  1. 5.1Power purchase agreement
  2. 5.2Turnkey EPC contract
  3. 5.3Turbine or module supply contract
  4. 5.4O&M contract
  5. 5.5Grid connection agreements
  6. 5.6Land rights
  7. 5.7Management contracts
  8. 5.8Shareholders' agreement
  9. 5.9Contractual interfaces and gaps
  10. 5.10Practical exercise: bankability review of a PPA
  1. 6.1Project risk matrix
  2. 6.2Construction risk
  3. 6.3Resource risk
  4. 6.4Market risk
  5. 6.5Technology risk and warranties
  6. 6.6Regulatory and political risk
  7. 6.7Counterparty risk
  8. 6.8Currency and interest rate risk
  9. 6.9Allocation of risks between parties
  10. 6.10Workshop: risk allocation matrix of a hybrid project
  1. 7.1Financing term sheet
  2. 7.2Facility agreement
  3. 7.3Guarantees and security
  4. 7.4Conditions precedent to drawdown
  5. 7.5Covenants and undertakings
  6. 7.6Events of default
  7. 7.7Project accounts
  8. 7.8Intercreditor agreement
  9. 7.9Lenders' advisers
  10. 7.10Case study: analysis of a financing term sheet
  1. 8.1Interest rate swaps
  2. 8.2Inflation hedges
  3. 8.3Currency hedges
  4. 8.4Electricity price hedges
  5. 8.5Hedge accounting
  6. 8.6Cost of hedging
  7. 8.7Hedge counterparties
  8. 8.8Basis risk
  9. 8.9Hedge restructuring
  10. 8.10Lab: valuation of an interest rate swap
  1. 9.1Battery storage
  2. 9.2Renewable hydrogen projects
  3. 9.3Offshore wind projects
  4. 9.4Biomethane plants
  5. 9.5Charging infrastructure
  6. 9.6Technology risk and warranties
  7. 9.7Public funding and blending
  8. 9.8Contracts for difference
  9. 9.9Projects with merchant revenues
  10. 9.10Practical exercise: financial structure of a merchant storage project
  1. 10.1Project green bonds
  2. 10.2Project green loans
  3. 10.3Taxonomy and financing
  4. 10.4Taxation of energy projects
  5. 10.5Tax on electricity generation
  6. 10.6Tax incentives for renewables
  7. 10.7Transfer pricing
  8. 10.8International investment structures
  9. 10.9Project tax risk
  10. 10.10Case study: issuance of a project green bond
  1. 11.1Technical due diligence by the independent engineer
  2. 11.2Legal due diligence
  3. 11.3Insurance due diligence
  4. 11.4Market due diligence
  5. 11.5Model audit
  6. 11.6Financial close process
  7. 11.7Drawdowns and certifications
  8. 11.8Monitoring during construction
  9. 11.9Managing the financing during operation
  10. 11.10Workshop: conditions precedent checklist for a financial close
  1. 12.1Project selection
  2. 12.2Assumptions and financial model
  3. 12.3Debt sizing
  4. 12.4Capital structure
  5. 12.5Risk matrix and contracts
  6. 12.6Sensitivity analysis
  7. 12.7Final financial recommendation
  8. 12.8Conclusions and future work
  9. 12.9Thesis report
  10. 12.10Master's Thesis: defence before a panel
Methodology, software & labs

How you'll learn

100% online training on the SEIUM campus, with downloadable material, recorded classes and an assigned technical tutor. There are no fixed timetables: you progress at your own pace within the intake, so the programme can be combined with work.

Each module combines theory, guided reading of the original standard and applied exercises. The working software is Excel (FAST models), Python (numpy-financial), Bloomberg Terminal, Power BI and @Risk, in free, academic or evaluation versions. Exercises are based on real procedures for building project financial models, DSCR-based debt sizing, and sensitivity and risk analysis. Assessment is continuous by module, plus the final Master's Thesis.

Standards covered: Equator Principles (EP4), Regulation (EU) 2020/852 (Taxonomy), Regulation (EU) 2023/2631 (European Green Bonds), IFRS 9 (financial instruments), Law 15/2012 on tax measures for energy sustainability, Green Loan Principles (LMA), Green Bond Principles (ICMA), Royal Decree 960/2020.

Assigned technical tutor:every module ends with a deliverable that your tutor marks individually.
Standards-based learning:guided reading of the Equator Principles (EP4), the EU Taxonomy, the European Green Bond standard and IFRS 9 applied to real cases, not as a theoretical annex.
Industry software:Excel (FAST models), Python (numpy-financial), Bloomberg Terminal, Power BI and @Risk, in free, academic or evaluation versions.
Master's Thesis with defence:the complete financial structuring of an energy project, from financial model and debt sizing to capital structure and final recommendation, defended before a panel.
Flexible format:100% online, no fixed timetables, compatible with full-time work.
Capstone project

Build it end to end

Your final project follows the real engineering workflow, step by step, reviewed by your tutor.

Solar plant financial model
Build a FAST-standard financial model of a solar plant in Excel.
Sculpted debt sizing
Size the debt by DSCR with a sculpted repayment profile under P50 and P90 scenarios.
Contracts and risk allocation
Review the bankability of a PPA and draw up the risk allocation matrix of a hybrid project.
Hedging and financial close
Value an interest rate swap and prepare the conditions precedent checklist for financial close.
Master's Thesis
The full financial structuring of an energy project with a final financing recommendation, defended before a panel.
Career opportunities

Where this takes you

Energy project finance analystFinancial modellerInfrastructure investment managerProject finance adviserStructured finance bankerEnergy business development manager
Admissions & scholarships

Requirements

  • A university degree in engineering, science or architecture, or equivalent demonstrable professional experience.
  • An internet connection and a computer capable of running the programme software.
  • English sufficient to read technical standards.

Ready to start?

Send your application today. Our admissions team replies within 72 hours with your study plan and funding options.

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FAQ

Frequently asked questions

The programme totals 1,900 hours over 12–14 months. You set your own pace within each intake, and your tutor helps you plan the workload around your job.

You work with Excel (FAST models), Python (numpy-financial), Bloomberg Terminal, Power BI and @Risk, using free, academic or evaluation versions. Your tutor indicates the free alternative wherever one exists.

A SEIUM Institute diploma, awarded on passing the continuous assessment and the Master's Thesis. It is SEIUM's own qualification, not an official state degree; its recognition depends on the programme completed and the regulations of each country.

Yes. Modules passed in a course or postgraduate diploma in the same area are recognised in the higher programme. Ask about the recognition policy when you enrol.

A degree in engineering, science or architecture, or equivalent professional experience, plus a suitable computer, an internet connection and English sufficient to read technical standards.

Start dates are set by SEIUM's faculty for each intake. Our admissions team will confirm the next available date when you apply.

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