Position: Senior Analyst, Community Solar M&A
Location: San Francisco, CA, US
Description: NRG is leading a customer-driven change in the U.S. energy industry by delivering cleaner and smarter energy choices, while building on the strength of the nation’s largest and most diverse competitive power portfolio. As publicly announced here, NRG is in the process of selling its Renewables division, among other entities, to Global Infrastructure Partners (“GIP”), a leading independent infrastructure investor based in the United States. As a key part of NRG’s Renewables division, its Community Solar business will be moving over to GIP as part of that sale.
NRG’s Renewables division is the market leader in the rapidly growing U.S. community solar market, matching our leading capabilities in engineering, construction, financing, and operation of centralized renewable generation assets with our strengths in marketing retail energy products. As a key member of a team of investment professionals tasked with investing significant equity in community solar projects, the Senior Analyst, Community Solar M&A will have responsibility for sourcing, evaluating, structuring and managing the diligence and closing of project and portfolio acquisitions, development joint ventures and other project partnering opportunities in the U.S. community solar market.
- Support all aspects of evaluation, structuring and acquisition of high-quality, profitable community solar projects as a key member of a lean transactional team
- Support the negotiation of multiple innovative third-party developer and channel partnerships designed to bring qualified community solar projects to NRG on an exclusive and preferred basis
- Perform quantitative and qualitative analysis and financial modeling for the evaluation of community solar project investment opportunities
- Support the structuring and drafting of indicative proposals, term sheets and definitive documentation for the acquisition of community solar projects
- Support the due diligence process for the acquisition of community solar projects including coordinating with internal functional groups (e.g., customer acquisition, development, legal, project finance, engineering, procurement, construction, O&M and asset management, etc.) and external consultants and advisors
- Work closely with the project finance group on the definition of key underwriting criteria and the placement of projects into construction and permanent financing facilities
- Work closely with the policy group to shape community solar legislation and regulation to ensure the sustainability and growth of both existing and new community solar markets
- Work closely with the Community Solar customer acquisition group to ensure the matching of our pipeline of assets with our pipeline of customers
- Prepare internal presentations to communicate and support transactional execution activities and approvals
- Maintain detailed working knowledge of legislative, regulatory, permitting, interconnection, incentive and other requirements governing the successful development of community solar projects
- Assist in the design, development, adoption and utilization of uniform business processes and tools to standardize and streamline the review and ultimate investment decision for a high-volume of community solar projects
- A Bachelor’s Degree with strong academic record from a leading undergraduate program, ideally in finance, accounting, business administration, economics or engineering
- A self-starter with at least two (2) years of solar industry and/or renewables, power and utilities investment banking experience with a strong preference for candidates with experience in transaction-oriented roles such as M&A or project finance
- Strong aptitude for analytical and financial modeling with demonstrated attention to detail
- Working understanding of the solar industry including regulated and de-regulated electricity markets and project financing structures and key value drivers
- Excellent communication, relationship and interpersonal skills with internal and external counterparties and partners
- Effective organizational skills including the ability to independently prioritize and manage competing priorities and deadlines
- A desire to have a positive impact on the world and a vision for developing new models for supplying clean energy for the 21st century
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