Our client is a growing fund with a market leading portfolio of renewable energy assets.
We are looking for an experienced associate Commercial Asset Manager to oversee the management of c.60 UK solar power companies.
The operational activities of the companies are outsourced. Supported by in-house technical and financial teams, the commercial asset manager will liaise closely with the outsourced providers to drive financial and operational performance and resolve issues as they arise.
You will be responsible for delivering accurate financial and operational information to Directors, funders and management team, as well as supporting any investment transactions on the portfolio via, for example, managing due diligence requests on the assets.
Occasional travel to site (UK) and to contractors' offices (UK and Spain) will be required.
- Develop a detailed understanding of solar technology and performance drivers, as well as the wider UK energy trading market to help drive commercial strategy of plants
- Liaise with the operators of the power plants to monitor performance throughout the life cycle of plants; gathering and managing detailed data for the portfolio companies
- Drive issue resolution incl. commercial decision making and getting approvals from the relevant investment committee as appropriate
- Manage underlying contractual relationships across portfolio of solar assets to drive efficiency across the portfolio and allow swift upsizing of the portfolio
- Oversee and manage all revenue and expenditure and cash balances in SPVs (incl. drawdowns, dividends etc)
- Update and maintain complex financial models, reflecting market conditions and operational performance
- Support internal fund reporting, including periodic valuation of the portfolio companies
- Support external financing reporting compliance work streams, including operational analysis and waiver request/consents
- Maintain and enhance the risk monitoring framework in place, designed to identify any issues early and resolve them in a timely fashion
- Oversee any deferred consideration or other obligations due from legal agreements
- Assist with portfolio optimisation in line with relevant deal closing strategy; this could include restructurings, PPA strategy, portfolio tendering, third party debt refinancing or exit strategies
- Preparation/oversight of operational budgets for both operational and facility purposes
- Review and critically analyse the management accounts, reports, and financial models of the Companies reporting any issues to senior management and approving write offs as necessary
- Review and approve audited accounts (before Director signs)
- First port of call for questions from Directors, Funds, Committees, Banks etc.
The role is an excellent opportunity for an experienced individual to join a fast growing team and gain deep insight and experience in the operation of solar power farms.
The candidate must be well organised with good prioritisation skills to manage both site specific and portfolio wide issues across multiple companies;
understanding the financial, legal and technical considerations.
They will have good commercial acumen and communication skills with which to design and deliver portfolio level optimisation and drive efficiencies and improvements in service from the outsourced functions.
He/she will be comfortable reading and interpreting legal documents as well as approving budgets and maintaining complex financial models and forecasts.
- They will be required to have at least 2 years' experience of solar power or other infrastructure management services
- Experience of complex contractual negotiations, taking into account commercial, legal and technical considerations
- Knowledge of private equity deals, project finance and private company valuations
- Contract training and management
- Knowledge of typical project documents (including SPAs, PPA, O&M and EPC contracts) and experience of managing external debt facilities would be desirable.
- Financial modelling experience desirable, but not essential
- Flexibility and "can do" attitude
- Excellent communication skills, both verbal and written
- Fluency in a European language would be an advantage
- Looking for a challenging role as part of an asset management career
- Able to work under pressure and towards deadlines
- Able to critically examine and question information from a variety of sources