Pivotal180 Newsletter March 2026

Dear there,

In this newsletter, we have included the following content:

• New Course Tax Equity Modeling for Lenders
• Pivotal180 Online Course Bundles
• Courses and Which One is Right For You
• Australia Update
• Free Resources Update
• Course Portfolio and Scheduled Courses
• Online Courses Available
• Please feel free to check out all our videos on Pivotal180’s YouTube.

The Pivotal180 Team.

New Course: Tax Equity Modeling for Lenders
Lenders are structurally subordinated to tax equity. In cases of asset underperformance, tax equity may sweep additional cashflow, leaving lenders in default positions. Adding to that, many sponsor models don’t accurately model the impact on lenders from downside cases. If lenders don’t understand how tax equity works, reasonable downside cases can’t be assessed.

This course, designed for originators and portfolio managers at lending institutions, aims to demystify tax equity models. Gain an understanding of the structure of transactions, how tax equity is sized (and thus their risks), the key elements in a tax equity model, and how to assess risk from a lender’s standpoint.

At the end of this course, you’ll be able to:

Understand the different tax equity structures in the market (traditional, hybrid, preferred equity, transfers)
To effectively read the tax equity and hybrid elements of a financial model
Identify the main risks to lenders in a tax equity transaction
Understand if the downside sensitivities in the model are correct
Be able to quantify risks (e.g. the cash sweep amount and duration)
Have a path forward to broader understanding and approaches to sensitivities within your group
Individuals can reserve a place for our first live public course (over 4×3-hour sessions on Zoom) or we can tailor the course and run an in-house at your organization.

Reserve A Place or email [email protected] for more info.

Pivotal180 Online Course Bundles

Pivotal180 offers seven specialized online courses focused on project finance and financial modeling across sectors such as renewable energy, infrastructure, and natural resources. Each course is self-paced and combines video lessons, practical Excel models, real-world case studies, and a certificate upon completion.

To make learning more accessible and cost-effective, Pivotal180 now offers course bundles that allow participants to purchase multiple courses together at a reduced price. Bundling courses helps professionals save on course fees, avoid the need for multiple individual purchases, and streamline the enrollment process.

These bundles provide a convenient way to access several Pivotal180 courses through a single purchase, making it easier for finance professionals to broaden their expertise, deepen their understanding of project finance structures, and build advanced financial modeling skills that can be applied in real transactions.

Courses and Which One is Right For you

Whether you’re looking to strengthen your financial modeling skills, move into project finance, or deepen your expertise in infrastructure and renewable energy transactions, the right training can accelerate your progress.

Pivotal180 offers practical, hands-on courses designed for finance professionals at every stage of their careers, from those building their first project finance models to experienced practitioners navigating tax equity, complex debt structures, and sector-specific investments such as battery storage, mining, and other infrastructure assets.

Rather than focusing only on theory, each course centers on real-world financial modeling exercises. Participants work through realistic deal structures, learning how project cash flows are built, how financing terms affect returns, and how changes in key assumptions can reshape investment outcomes.

The result is training that reflects how deals are actually structured and analyzed in practice, equipping professionals with skills they can apply immediately in live transactions.

Contact [email protected] for guidance on selecting the right course.

Australia Update
It’s hard to believe, but it is almost six months of Pivotal180 in Australia! It’s been a thrill to see the amount of interest and excitement for our project finance modelling training programs around the world. In our first few months, we delivered both in-house and public courses across Australia and APAC to clients new and old.

To celebrate our half-birthday milestone, we’re offering special pricing for our upcoming public Renewable Energy Project Finance Modelling course in Sydney, Reserve A Place or email [email protected] for more info.

Free Resources Update

Model Image Jan 2026
Managing policy uncertainty in renewable energy models
In an increasingly volatile policy world, nothing is certain except change. Policy changes might leave your project looking very different from the one you modeled. You need a model that can keep up.

Read Our Thoughts

How is the 10th amendment of the US constitution related to Tax Equity?
The 10th Amendment left retail power-rate authority largely with the states, limiting the federal government’s ability to support renewables through nationwide tariffs. Instead, federal policy leans on tax credits and accelerated depreciation. Tax equity emerged to monetize those tax benefits, often unusable immediately by developers, into upfront project capital.

Course Portfolio and Scheduled Courses

The courses in our existing portfolio have been developed to equip participants with the knowledge and skills to tackle all the multi-faceted pieces of a transaction.

We look forward to assisting you in demystifying project finance and tax equity.

Our upcoming public courses are listed below.

Live Stream

• Battery Storage Financial Modeling begins March 20, 2026
• Advanced Project Finance Debt Modeling begins March 31,2026
• Introduction to Project Finance Modeling begins April 7, 2026
• Tax Equity and Hybrid Financial Modeling begins April 8 2026
• Renewable Energy Project Finance Modeling begins April, 2026
  Australia

In-Person

Renewable Energy Project Finance Modeling begins April 8, 2026 
Please reserve a place or contact us for any more information. [email protected]

Online Courses Available
Tax Equity and Hybrid Modeling

Gain an overview of the tax equity structures commonly used in U.S. renewable energy investments, with a focus on the development of a financial model. Dive deep into tax capital accounts, deficit restoration obligations, stop loss reallocations, and HLBV accounting.

Introduction to Project Finance Modeling

This course is designed to give participants a strong foundation in the core concepts that impact investments and debt structuring in project finance transactions.

It’s ideal for beginner modelers, students and professionals who don’t build models daily, but need to understand project finance models and concepts.

Renewable Energy Project Finance Modeling

Learn how to develop a best-practice financial model and optimize it for both debt & equity investors for a renewable energy project finance deal. Using a case study, learn the concepts required to develop a financial model related to wind and solar.

Mining and Critical Minerals

Learn how to develop a financial model for a copper project with a typical mine plan including ore mined, waste mined, input grades, high and low-grade stockpiling, and processing recoveries. Understand the key drivers of mining projects.

Battery Storage Financial Modeling

This course provides an overview of standalone batteries and co-located batteries with wind or solar assets. It is designed to familiarize developers, investors, and lenders with the investment decisions and risks of battery storage projects.

Financial Modeling Fundamentals

Building a model from a blank spreadsheet, this course bridges the gap between theoretical learning and practical application. Participants will build a best-practice financial model and will learn the frameworks for evaluating a business including future cash flows, income statement, balance sheet, and financial analysis..

Project Finance Modeling

Learn the concepts to develop a financial model related to PPP/P3s for both social and economic infrastructure. The course centers on a hospital PPP and toll road, although other sub-sectors are mentioned

A Quick Look Into Data Centers

A free 5-video mini-course. Get a quick look at how retail and wholesale data center facilities earn revenue, the major cost drivers that shape their performance, and how they fit within the real estate / infrastructure spectrum. A great starting point if you’re curious about one of today’s most dynamic asset classes.