OUR SERVICES
Model Building
We create clear, reliable financial models built on best practice — designed to withstand audits, support financing, and guide decisions.
Optimisation
We optimise models to deliver stronger results — reviewing documentation , advising investors, and ensuring equity returns are robust. We ensure your model reflects real-world outcomes and unlocks maximum value.
Project Finance
We have extensive experience working with lenders, model auditors, developers and equity investors - providing valuable input for negotiations and ensuring a smooth path to financial close.
Why Work With Us?
28+
Years of Experience
100+
Sponsors and Lenders Worked With
200+
Transactions Worked On
Background
Daniel Freeman BSc(hons), FCA
Founder and Director, XLFM
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​Daniel is a chartered accountant and financial modelling specialist with over 28 years’ experience in modelling project finance, corporate finance, and M&A transactions around the world. An expert in Excel and VBA, he has built and reviewed models for some of the world’s largest and most complex transactions in the power and infrastructure sectors.
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He qualified as a Chartered Accountant with PwC before joining the newly formed financial modelling group at Ernst & Young. Primarily focusing on project finance power transactions, he worked with a large number of lenders and sponsors on both model audit and model development, resulting in being invited to go on longer term secondments - where he quickly became a valuable and integral part of their development teams. After one such secondment to Entergy, Daniel accepted a full time position, and spent three years in their project finance and modelling team developing and successfully closing projects in Europe.
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After leaving Entergy, he founded a Financial Modelling and Project Finance consultancy - bringing Big4 level modelling rigour and insight to clients worldwide. His client base has included major names such as Marubeni (sponsor/equity investor), Futuregrowth (Lender/equity investor) and Globeleq (developer and long term equity investor and operator ).
Case Studies
We supported Globeleqs bids of solar and wind projects in South Africa’s Renewable Energy Feed in Tariff program (REIPPP) . We developed the initial model and supported the deal team in negotiating the best terms with the original developer, other potential investors, contractors and lenders. Ultimately this led to winning bids and successfully reaching financial close on multiple projects.
We supported Futuregrowth in assessing equity and debt investments across multiple wind and solar projects in South Africa’s renewable programme. On the equity side, we reviewed sponsor models, identified risks and upsides, and enabled successful bids in Round 3, where Futuregrowth invested in half of the winning projects. We also advised on debt syndication for Round 2 preferred bidders and our analysis underpinned the final credit investment decisions.
SOME OF OUR PAST AND CURRENT CLIENTS
Why XLFM?
In project finance, the financial model sits at the heart of every deal — and getting it right is critical. At XLFM, we bring the rigour of Big4 training together with the focus and flexibility of a specialist consultancy. With a background at Ernst & Young’s financial modelling group and a qualified chartered accountant at the helm, we know exactly what model auditors, lenders, and investors are looking for. The result is clear, reliable models that hold up under scrutiny and help our clients secure the best outcomes.
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We’ve worked with developers, investors, and lenders across power and renewable projects worldwide, so we understand the pressures of getting to financial close. Our relationships with auditors and lenders make reviews smoother, while our technical and commercial know-how helps clients avoid costly mistakes. With XLFM, you get the best of both worlds — the expertise of a Big4 team, without the overheads, and a partner who’s focused on delivering real value.