Recurrent Energy is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and O&M platforms. Recurrent Energy is focused on bringing low-cost clean energy and meaningful economic development to communities across the globe.
With a strong track record of originating, developing, financing, and completing nearly 11 GWp of solar and 3.7 GWh of battery storage power plants across six continents, Recurrent Energy has established a leadership position in both solar and battery storage project development. We have 26GWp of solar and 66 GWh of battery storage project under development and globally we have more than 12 GWp of contracted projects under long-term operation and maintenance agreements.
At Recurrent Energy, we believe in the power of teamwork to create a sustainable future. Join us as we work together toward a cleaner, greener tomorrow!
Position Title: Senior Director, Project Finance
Department: Project Finance
Reports To: Managing Director, Project Finance
Location: Austin, TX or New York, NY
Position Summary
We are seeking a Senior Director to join the Project Finance team at Recurrent Energy, a subsidiary of Canadian Solar. This team member will be responsible and accountable for achieving and exceeding the economic and timing business goals of debt and tax equity transactions for their allocated projects and for providing strategic leadership to the Recurrent Energy's solar and battery storage projects. This role is highly visible within the organization and requires collaboration with many different groups as well as causing sophisticated and creative problem solving to meet profitability and timing objectives. We are looking for someone with intellectual curiosity, high motivation, an entrepreneurial mindset, and excellent written and verbal communication with superior process management skills that is committed to a long-term career in project finance.
Responsibilities
Provide strategic planning and organizational leadership to the assigned projects in the portfolio:
-Strategically plan with leadership peers in the Development and EPC teams to align and optimize integrated project financing ideas and steer them towards the desired outcomes
Overall accountability for project financing outcomes:
-Develop project financing structures, counterparties, and timeline strategies designed to achieve specific business objectives
-Oversee the deal team analysts, associates, managers, and directors during financing transaction executions and preparation periods;
-Accountable for realizing business goals of project financings (timing, profitability, structures, etc.);
-Accountable for content of financial models, marketing materials, third party consultant reports, and transaction documents related to assigned projects;
-Senior business leader contact with external counterparties during capital raise processes;
-Proactively identify and problem-solve potential delays to deadlines or issues that could negatively impact the economic outcome of the deals;
-Effectively communicate to senior executive leadership financing status and goal-oriented outcomes.
Provide executive level thought leadership to financial modeling and profitability analysis:
-Oversee deal team modeling activities and take accountability over content and output of the model. Provide guidance to the deal team and quality control to ensure that the model adequately and accurately reflects the underlying intended transaction, current/forecasted market conditions, optimized business objectives, and best practices;
-Demonstrate a mastery of the causal relationships between inputs and outputs of a model and identify multi-dimensional layers of improvement to overall profitability of projects;
-Provide leadership and coaching to deal team members;
-Collaborate with and guide the Business Analytics team to ensure that development-stage project models adequately reflect the debt and tax equity market terms/structures actionable in the market and identify improvement opportunities; constantly review and revise internal models to reflect intended debt and tax equity structures when those are identified.
In conjunction with Managing Director, develop project financings strategies and business objectives:
-Evaluate various tax equity (ITC yield flips, time flips, inverted leases, transfers, hybrids, PTC pay-gos, etc.) and debt structures for optimized qualitative and quantitative outcomes and associated financing counterparties;
-Make recommendations to the Managing Director for which structures and counterparties to pursue, and why;
-Ensure that marketing materials adequately communicate intended strategic business objectives and execution strategies;
-Develop pre-launch timelines and information management strategies to meet timing objectives and ensure the company is sufficiently organized and staffed to execute;
-Identify creative solutions to meeting business goals and effectively communicate to senior leadership as well as deal team members;
Reporting relationships and interactions:
-Reports to Managing Director of Project Finance;
-Interact and develop relationships with leadership of tax equity investors, lenders, and third party market consultants and facilitate productive working relationships between deal team members and financing counterparties;
-Cause the coordination of and collaboration with all internal stakeholders throughout the company - including finance, development, power marketing, legal and engineering teams - that represent all stages of the projects' lifecycle.
Requirements
15+ years of relevant project finance and tax equity experience required.
Bachelor's Degree and equivalent work experience.
Long-term career commitment in renewable project finance capital raising and investing.
Must have strong financial modeling and analytical skills.
Strong executive level verbal and written communication skills along with strong delegation skills.
Expertise in modeling and structuring tax equity.
Solid understanding of corporate finance and economic concepts.
Advanced understanding of power and financing markets.
Highly proficient in MS Excel, MS Word, and MS PowerPoint.
Solution and goal oriented.
Growth mindset.
Resourceful and comfortable working in an unstructured, entrepreneurial environment; this is a transaction-based environment where requirements and deadlines are dictated by deal flow.
Strong quantitative aptitude with an extremely high level of attention to detail.
Interested in working in a fast-growing industry that is making a tangible impact on climate change.
Ability to translate complex quantitative analysis into written, deliverable insights.
Highly driven, proactive, and hardworking.
Self-starter that takes pride in optimizing financial models and overall work products.
Travel required, 15%-25%.
Recurrent Energy is an Equal Opportunity Employer (EOE). Qualified applicants are considered for employment without regard to age, race, color, religion, sex, national origin, sexual orientation, disability, or veteran status.