Connect to Excel file in SharePoint library using Service Principal

Thank you for sharing this information. Based on your response, I did a test with the Sharepoint Folder connector and connected using the site url, then filtered down to the excel sheet that was the data source for the report. Then extracted the Binary content and used that in the report. Power BI added some functions/query tables in the data source query space. 

Following this I published the report into a workspace. Using Semantic model settings , edited the data source credentials to that of the Service Principal. The credentials were accepted without any error. However, once I proceeded with a manual refresh of the semantic model , I received the following error for the Data refresh again!

"There was an error when processing the data in the dataset. Please try again later or contact support. If you contact support, please provide these details.

• Data source errorThe credentials provided for the SharePoint source are invalid. (Source at (sharepoint site url listed here). The exception was raised by the IDbCommand interface. Table: Query1......."

Here , Query1 is the table generated by Power BI once I filtered down to the binary content and used in the report.

What am I doind wrong here?