Model Build


Numeritas developed Ilmatar’s new group portfolio forecasting model, covering several renewable energy assets across multiple regions.

Asset Level and Consolidated Outputs

Ilmatar can now forecast their underlying assets and produce asset-level financial metrics, which can be consolidated into a group view and dashboard.

Improved Structure

We implemented a simpler structure to update quarterly project performance and forecasting assumptions, and included an efficient project level mapping process.

Additional Battery Storage Asset

Battery Storage Assets and calculation logic were successfully integrated into the new model.


Numeritas was asked to rebuild the Ilmatar group portfolio model covering a number of solar, wind and battery storage assets.

The business had outgrown its original model as it was difficult to navigate and update, and difficult to insert new assets. It also contained a fair amount of redundant logic.


Numeritas were able to deliver a model that has better structure, is more functional, and is easier to manage. We advised Ilmatar on the most appropriate model flow, input structure and financing logic, and restructured inputs to focus on technological and geographical variables instead of relying on a project-by-project approach.

Additional automations were also integrated into the new model to help save the client time, such as project adding options and updating for actuals.


Despite the level of complexity required in asset level forecasting, the new model is more stable and reduces the time needed to update, manage and run the forecasting processes.

The flexibility that was built into the model now allows Ilmatar and its advisors to use the model for sensitivity and scenario analysis through corporate transaction projects.

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