Sr. Analyst/Associate, Project Finance
Remote, San Francisco, CA
ABOUT 8MINUTE SOLAR ENERGY
As a record-breaking, unrivaled technology leader, 8minute Solar Energy (8minute) is championing the clean energy transition in the United States and shaping the future of energy through its next generation of smart solar power plants. Since its founding in 2009, 8minute has successfully put 2 GW of solar projects in operation and currently has over 18 GW of solar and 24 GWh of energy storage projects under development. By prioritizing technology and engineering innovation, 8minute’s best-in-class team has continued to set new industry records: developing the largest solar plant in the nation starting in 2011, delivering the first operational solar plant in the U.S. to beat fossil fuel prices in 2016, and securing a deal to deliver solar with storage at record-low prices in 2019. Now one of the largest solar developers in the country with an established track record of delivering above-market profitability, 8minute’s relentless pursuit of smart energy generation is unlocking growth and expanding access to affordable and reliable clean energy. For more information, please visit www.8minute.com, and follow 8minute on Twitter and LinkedIn.
About the Position:
The Senior Analyst / Associate would support a team of Project Finance professionals who source, negotiate, and execute project sales and structured financings, including whole or partial project sales, construction financing, backleverage, and tax equity financing. The position requires an individual who thrives in a fast-paced, unstructured environment, constantly collaborating with various internal and external teams to meet transaction deadlines. The individual would ultimately be responsible for managing day-to-day execution of these transactions and performing analysis on the market and our competitors to more effectively develop project-specific valuation methodologies.
Essential Function and Responsibilities:
- Project Valuation and Modeling:
- Own every aspect of the project financial model for both mid-stage and late-stage development assets, including significant time working on project offtake bidding and structuring.
- Monitor the debt, tax equity, and cash equity markets for appropriate valuation techniques and pricing
- Prepare and explain capital structure sensitivities, becoming intimately familiar with the potential capital permutations and value levers
- Understand the various construction and operational inputs to the model, working closely with cross-functional experts in various functional groups such as Origination, Land Acquisition, Development, Engineering/Optimization, Storage, Interconnection, etc.
- Transaction Support:
- Support (and eventually lead) various aspects of a project sale and financing, including but not limited to:
- Due Diligence
- Dataroom Management
- Term Sheet and Transaction Document Support
- Independent Engineer Reports
- Appraisal/Cost Segregation Reports
- Insurance Consultant Reports
- Project Closing activities
- Support Project Finance lead on marketing of project capital structure to outside parties, interacting with project finance banks, tax equity investors, infrastructure funds, and strategic buyers
- Preparation and delivery of materials for Investment Committee review and approval
- Transaction Monitoring
- Support projects that are operational and financed by 8me, including refinancing activities, consent processes, financing document compliance, and modeling
- Apply learnings from operational project portfolio to 8me development asset modeling and pricing
- Market Analysis
- Willingness and ability to monitor competitor transactions to constantly advance 8me’s internal financing “toolbelt”
- Macroeconomic analysis, including impacts of tax law change, interest rate environments, and broader sector trends
- Constant monitoring of the power markets, including structured energy transactions, to help ensure project financeability and valuation
- Cross-Functional Support and Collaboration
- Support other functional areas in ways such as:
- PPA Pricing and Financeability
- Design/Engineering Optimization
- EPC and O&M Contract Negotiations
- Corporate FP&A Rollup analysis
- Lease vs. Buy analysis
- Other Responsibilities:
- Support transaction team in various approval stage-gate and committee review processes
- Manage various tracker and tool updates and dissemination, as needed
Skills:
- Minimum 1-2 years in Renewables/Power & Utilities, finance, or capital markets
- Finance, economics or similar degree
- Progress towards or desire to earn CFA designation
- Previous investment banking, project finance banking, or similar experience
- Expert proficiency in Microsoft Office, especially Microsoft Excel, including experience with project financial modeling
- Experience managing large projects with multiple stakeholders on tight timelines
- Ability to present complex information succinctly and efficiently to audiences internal and external, including financing counterparties
8minute Solar Energy offers competitive compensation and an excellent benefits package, including 401(k) and fully paid medical and dental benefits and unlimited PTO.
We are an equal opportunity employer.