North American Renewable Energy - Vice President, Project Finance

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The transition to renewable energy is underway and accelerating. Shifting to a low carbon world means meeting a growing demand for clean energy technologies and innovative business models. Renewable energy project developers and independent power producers have a key role to play in the energy transition, and financing renewable energy projects remains a challenging but exciting aspect of this fast-growing and rapidly evolving market.

Our client is a well established full-service renewable energy developer and independent power producer. It is involved in a wide range of project types, scales and development stages, and has over 1GW of completed projects and over 6GW of pipeline in North America. In addition to creating benefits for a broad range of stakeholders, it incentivizes the participation of low-to-moderate income households in the energy transition.

Scope of Position

Reporting to the CEO and partnering with all members of the senior leadership team, the Vice President, Project Finance will be focused on ensuring all necessary project financing work is carried out in an organized, efficient, and disciplined manner such that individual projects, and overall project portfolios, achieve the company's financial objectives and strategic goals.

The successful candidate will play a key role by leading the sourcing, structuring, closing and ongoing management of renewable energy project finance transactions with a focus on driving the financing process to successful completion.
This opportunity will appeal to individuals that want to make a real impact within a highly entrepreneurial and successful renewable energy developer and independent power producer with rapid growth ambitions.

Functional Tasks

• Lead all financial modeling and analysis, including creating, reviewing and refining complex models for long-term power project assets. Includes but is not limited to modeling capital and operating expenditures during construction and operational periods, variable forecasted revenues, debt service payments including sculpted debt service coverage ratios, tax, accelerated depreciation, partner capital accounts, etc.
• Originate, negotiate and close project finance transactions, including term sheet development and negotiation, managing competitive processes to source financing, and negotiating definitive documentation with a range of financing partners, including but not limited to, construction and long-term debt lenders, equipment or bridge financing lenders, and tax equity investors.
• Lead all financing due diligence preparation and management, including populating and maintaining data rooms, question and answer logs and coordinating stakeholder meetings.
• Coordinate internal processes across departments (i.e., finance, legal, development, engineering, project management, etc.) to complete financings.
• Develop and manage relationships with external financing stakeholders including but not limited to lenders, independent engineers, and (tax) equity investors.
• Oversee, manage and support, as needed, in-house financial analysts and associates or third-party advisors.
• Support the business development and project origination efforts by evaluating financeable deals and developing competitive bid pricing based on optimization of capital sources.
• Stay up-to-date with trends and key market terms to enable the company to underwrite growth opportunities with confidence, seek ongoing opportunities for innovation and optimization in financing approaches, including developing and evaluating strategic financing alternatives (i.e., different structures or partners).

Competency Profile

Strategic Approach

Develops a strategic plan to realize the vision. Revises strategy in light of changing circumstances. Works to clarify organizational goals. Able to stand back from immediate problems in order to focus on more far-reaching ideas.

Role Expertise

Demonstrates critical technical or professional knowledge/skills related to the role. Expands technical knowledge/skills and keeps up-to-date in own area of expertise.

Commercial Acumen

Applies appropriate commercial and financial principles. Understands situations in terms of costs, profits, added-value and return on investment.

Results Orientation

Focuses strongly on achieving agreed upon outcomes and ensures that key objectives are met. Conveys a sense of urgency and drives issues to closure. Aims to improve upon past performance. Establishes aggressive personal targets and strives to achieve them.

Integrity & Sincerity

Inspires trust and supports others through own authenticity and following up on commitments. Maintains high ethical standards both personally and professionally. Shows consistency among principles.

Information Seeking

Consults widely for business or technical advice, probes for facts and obtains information from a wide variety of sources. Differentiates the critical from the irrelevant or trivial.

Team Skills

Helps to create a sense of team spirit and harmonious relations through cooperation and support. Balances personal goals with those of the team. Fosters collaboration among team members.

Preferred Experience / Education

• Undergraduate Degree in Finance, Commerce or similar. Graduate degree (MBA, Finance, Accounting or similar) an asset. CPA, CFA or similar designations an asset.
• 8+ years hands on experience in project finance, investment banking, infrastructure financing or similar. Direct experience with a renewable energy Sponsor (independent power producer, developer, principal investor, infrastructure or pension fund), or lending institution (bank, debt fund) an asset.
• Detailed understanding of project finance structures a must. Understanding of US Tax Equity transactions (including legal structures, financial modeling of partnership flips, etc.) a valued asset.
• Strong network of relationships in the debt, tax equity and project equity community, including banks, insurance companies, private equity and non-traditional sources of tax equity a valued asset.
• Demonstrated track record developing, originating and closing financing transactions, including the ability to negotiate complex contractual agreements and produce complex financing models.
• Outstanding interpersonal skills and ability to work independently, with a team and to collaborate across various departments.
• Experience in a high-growth, highly entrepreneurial environment an asset.
• Exhibits high standards of business and personal ethical conduct.
• Highly competitive compensation package tailored to the successful candidate.