The fuertes vientos wind farm

This case presents the story of a wind farm start-up in the north of Spain. A group of entrepreneurs with a good knowledge of the sector and interested in clean technologies identify an opportunity to start up and manage a wind farm. The focus of the case is on the financial plan and, more specifically, on its financial needs. One of the founders of the company wonders whether getting all the equity needed from just one investor and all at the same time was the best idea. He is worried that they may have given up too much ownership. The main teaching objective is to understand the importance of financial planning for entrepreneurs. Students are required to prepare a complete financial plan, including balance sheet, profit and loss, and cash flow statement. The case can be used on corporate finance or entrepreneurial finance courses, with undergraduate students (last year), graduate students and executives. The case is provided with a blank model and a proposed solution.