Plunging into deep waters

My advisor just described to me a new project that we are going to start. I haven't read much about prior work, though I have worked on a very small project which we could use as a sub-module for the bigger one. We just have a broad idea about what challenges we will face. We know neither the solutions to those nor any possible pointers that will guide us through the solutions. It feels like jumping in deep waters, where you have no idea what to expect next.

Yet, I feel excited about it! My advisor brings so much energy, enthusiasm and optimism in our meetings that, every time I walk out of his room, I feel that I can conquer the world!