FEASIBILITY & BANKABILITY

Evaluate returns, downside risk and financing capacity in one project case.

PYTHIA connects technical performance, revenue modelling and project finance to evaluate investment returns, downside exposure, DSCR and debt capacity across PV, BESS and hybrid projects.

WHAT PYTHIA EVALUATES

Three views of the same investment case.

PYTHIA evaluates profitability, downside exposure and financing readiness using a consistent set of technical, market and financial assumptions.

Investment Returns

NPV · IRR · Payback · Cash flows

Assess project profitability across the full investment horizon.

Downside & Sensitivity

Revenue · CAPEX · Degradation · Market scenarios

Stress-test the project against adverse technical, market and financial assumptions.

Financing Readiness

DSCR · Covenants · Debt service · Debt capacity

Evaluate whether project cash flows can support debt requirements and financing constraints.

DOWNSIDE & FINANCING TESTS

A strong return is not enough.

PYTHIA tests whether the investment case remains resilient when key assumptions move against the project — and whether the resulting cash flows can still support financing requirements.

This separates headline project economics from the risks that matter during investment and lender review.

BASE CASE

Expected project performance

DOWNSIDE CASE

Stress-tested revenue, cost and performance assumptions

FINANCING CASE

DSCR, covenant headroom and debt-support capacity

FINANCING READINESS

See whether project cash flows can support debt.

PYTHIA evaluates debt-service coverage alongside project economics, testing covenant compliance and financing headroom under both expected and downside conditions.

Average DSCR

1.70x

Minimum DSCR Covenant

1.25x

P90 Downside DSCR

1.42x Covenant cleared

STUDY FRAMEWORK

One connected model from project assumptions to investment outputs.

Technical performance, revenue assumptions and project finance are evaluated together so that changes in one part of the project flow consistently through the investment case.

TECHNICAL ASSUMPTIONS

Define the physical project model.

PV production · BESS performance · Degradation · Grid constraints

Define the asset and operating assumptions that determine energy production, storage behaviour and system limits.

REVENUE ASSUMPTIONS

Model how the project creates value.

Merchant · PPA · Tolling · Self-consumption · Market revenues

Evaluate how energy and flexibility generate revenue under the selected commercial and market framework.

FINANCIAL & FINANCING

Translate performance into investment economics.

CAPEX · OPEX · Tax · Debt · Discount rate · Covenants

Convert operating performance into cash flows, investment returns and debt-service capability.

DECISION SUPPORT

Built to support investment, financing and project decisions.

Use the same project case to compare alternatives, identify downside exposure and communicate the economics of the investment to internal and external stakeholders.

DEVELOPERS & EPCs

Compare project configurations.

Evaluate sizing, operating assumptions and commercial structures before committing to a project design.

INVESTORS

Understand return and downside.

Review expected performance alongside sensitivity cases, cash flows and the assumptions driving project value.

FINANCING REVIEW

Assess debt-service capability.

Test DSCR, covenant compliance and financing headroom under base and downside conditions.

READY TO TEST YOUR PROJECT CASE?

Evaluate the economics. Test the downside. Prepare for financing review.

Use PYTHIA to connect technical performance, revenue assumptions and project finance in one decision-ready feasibility study.

Meten Solution Services

Bankability