Manager/Associate, Project Finance

Company Summary 

Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc. and 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 building nearly 9 GWp of solar and 3 GWh of battery storage power plants across six continents, Recurrent Energy has established a leadership position in both solar and battery storage project development. With a total pipeline of 25 GWp in solar and 47 GWh in battery storage, of which 14 GW and 12 GWh respectively already have interconnections (as of January 31, 2023). In addition, Recurrent Energy’s services business has 6 GW of projects under operations and maintenance contracts, either operational or contracted projects. 

Position Title:  Manager/Associate, Project Finance 

Department:Project Finance 

Reports To:Director, Project Finance 

Location: 

Position Summary 

We are seeking a Project Finance Associate or Manager to join the team at Recurrent Energy, a subsidiary of Canadian Solar. This Manager-level team member will be responsible for supporting/managing debt and tax equity transactions for Recurrent Energy’s solar and battery storage projects as well as providing sophisticated and creative problem solving to meet profitability objectives. This role is highly visible within the organization and requires collaboration with many different groups. We are looking for someone with intellectual curiosity, high motivation, and excellent communication and process management skills that is interested in long-term career in project finance. 

Responsibilities 

• Provide leadership of financial modeling and profitability analysis:
  • Oversee analyst modeling activities and take responsibility over content and output of the model. Provide guidance and quality control to analysts regarding inputs, structure, etc. and confirm that the model adequately and accurately reflects the underlying transaction, current market conditions, optimized commercial results, and best practices.
  • Build bespoke structured financing models that accurately reflect terms of various financing vehicles and markets that are not otherwise captured in existing tools.
  • Demonstrate a strong understanding of the causal relationships between inputs and outputs of a model and identify multidimensional layers of improvement to overall profitability of projects.
  • Model profitability of projects under various financing structures and help make corresponding project capital structure recommendations.
  • Provide leadership and coaching to analysts.
  • Independently manage third party financial models and consultant reports, and assist in negotiating transaction documents in a manner that is consistent with the overall project objective and strategy of the financing.
  • Collaborate with Business Analytics team to ensure that development-stage project models adequately reflect debt and tax equity market terms and structures.
• Support deal leads for project financing transactions:
  • Assist with marketing efforts by overseeing analyst preparation of marketing materials, ensuring the presentation materials are accurate, clean, and reflect the overall message and intention of the transaction.
  • Review and assist with negotiating term sheets and definitive documentation.
  • Coordinate with third party financing providers on due diligence and documentation
  • Maintain responsibility for financial deal models for debt and tax equity transactions while working closely with external counterparties and internal teams.
  • Create proposals, information memoranda, presentations, project schedules and internal presentations.
  • Assist with gathering and presenting information for financial partners performing due diligence on Recurrent Energy’s projects.
  • Review of key contracts, term sheets, or other documents for impact on profitability, financial modeling, and overall financeability
  • Facilitate flow of information between finance, development, power marketing, legal and engineering teams during transaction execution
  • Manage deadlines and maintain accountability from cross-functional deal teams; lead peers across the organization with confidence and dedication.

Knowledge, Skills, and Abilities: 

• Must demonstrate strong financial modeling and analytical skills.
• Strong verbal and written communication skills including comfort with interacting with internal management and transaction counterparties.
• Expertise in modeling tax equity including capital accounts, depreciation, buyouts, etc. (preferred)
• Solid understanding of corporate finance and economic concepts
• Working understanding of power and project finance markets (preferred)
• Highly proficient in MS Excel, MS Word, and MS PowerPoint
• 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

Requirements  

• 5-8 years of relevant experience required.
• Bachelor’s Degree or equivalent work experience.
• CFA or other quantitative certifications are a plus.
• A financial model test will be required during the interview process.
• Travel required 0 - 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.