Lowell - MA Full Time 2 weeks ago

Borrego is seeking a Project Finance Associate to join our Lowell, MA office, our Latham, NY office, or remotely in New York. You will play an integral role in supporting early and mid-stage development of PV-Only, Solar+Storage and Stand-Alone-Storage assets. You will also play an integral role in supporting the sale of development assets to Borrego’s IPP partners and will manage a variety of post-sale obligations, ensuring that projects are fully brought to completion in accordance with purchase agreements. We offer a hybrid work environment, allowing you to work remotely 2-3 days a week and from the office 2-3 days a week.

At Borrego, we don’t accept the status quo. We are driven by a culture of teamwork, fearless thinking, and adaptability as we pursue our mission to accelerate the adoption of renewable energy. With more than 850 MW already installed, we’re excited about the “Gigawatt Revolution” happening across our company as we shift from megawatts to gigawatts of clean energy in the coming years.

After 40 years in business, Borrego is a trusted name in the solar industry and well-known for our strong employee culture. We combine the stability and wisdom gained by decades in business with an entrepreneurial spirit. Our employees are driven and animated by the Borrego System of Excellence, an operating framework detailing our mission, vision, strategy, and cultural principles and working systems.

About the Role

Our ideal candidate will have very strong financial modeling skills in order to support Utility Scale development and to support RFP price responses. You will perform pricing and valuation analysis of development assets based on technical project attributes and economic analysis of offtake structure in the context of developing an asset that fits the economic profile of the long-term owner/operator. Our successful candidate will have the ability to build and maintain relationships with internal disciplines (developers, policy & business development, interconnection and development engineering) and external industry partners.

Position responsibilities include, but are not limited to, the following:

Development & Transaction Support

  • Assist in responding to Requests for Proposals (RFPs) by customizing financial models that incorporate technical project attributes, offtake contract structure and financial structure including tax equity and back leverage 
  • Ensuring end-to-end economic review of potential offtake solutions, including supporting the origination of utility and C&I offtake opportunities
  • Run scenario analysis to determine largest drivers of value with the goal of aligning anticipated bid economics with eventual sale to Buyer/IPP
  • Assist in the management of external relationships with buyer/IPPs, and capital providers including commercial banks and tax equity providers to understand evolving appetite for projects, economic parameters which are attractive (e.g. target IRR, appetite for certain contract types and features) and applicable financial structures
  • Assist in the presentation of the transaction to the Borrego executive team when seeking approval of the proposed bid structure
  • Support the sale of pre-NTP development assets by working with internal stakeholders including Developers, Interconnection, and Development-Engineering to create data rooms, manage Q&A and interact with internal/external counsel
  • Assist in the financing and sale of projects by supporting marketing materials, facilitating investor due diligence requests related to the analysis of valuation and financing options
  • Assist in the preparation and build-out of standard operating procedures to support hand-off of a project from developer to project finance and to support transaction execution
  • Support the economic review of the acquisition of early-stage land and queue positions
  • Assist in the creation and maintenance of simple relative value tools to support day-to-day development decision-making

Standard Work

  • Build and maintain financial models and accurately reflect terms of offtake contracts and various financing vehicles and wholesale market dynamics
  • Build and maintain tools to support the assessment of the relative value of early-stage projects to support day-to-day development decision making
  • Develop and present scenario analysis to support bidding into offtake RFPs and bilateral offtake
  • Independently manage financial models and third-party consultant reports, prepare marketing materials, and assist in negotiating transaction documents
  • Coordinate with internal stakeholders on due diligence and documentation for projects

Desired Skills and Experience

The successful candidate will bring the following experiences, skills, and attributes:

  • 2 – 5 years experience in power, utilities, and/or infrastructure finance, M&A, or similar function
  • Highly capable in creating and managing financial models in Microsoft Excel.
  • Excellent written communication skills for project marketing and Buyer/IPP relations
  • Understanding of the utility-scale energy generation industry is preferred but not required
  • Knowledge or experience with renewable energy development is preferred but not required

Compensation, Benefits, and Culture

Borrego uses an internally equitable and externally competitive total cash approach to compensation. Our comprehensive benefits package includes dental, vision, health, life, and disability insurance; 401(k) plan with company match and immediate vesting; continuing education and professional development assistance; access to Borrego’s wellness platform; and self-managed flexible work schedules and time-off policies.

Our corporate culture fosters bold moves, a growth mindset, and the ability to take risks — and we value innovative thinkers who will help us reach our ambitious growth goals. We believe that flexibility and work-life balance are important parts of long-term employee happiness and productivity. Our employees are trusted to get their work done and are given the freedom to do so when they are their most efficient, creative, and engaged.

Commitment to Diversity and Inclusion

Borrego values the diverse perspectives, skills, experiences, and contributions of all employees. We want all our employees to feel like they belong and are empowered to be their most authentic selves at work. We’re actively committed to fostering diversity not only within our own organization but also within the renewable energy industry.

We seek a diverse candidate pool in this – and every – search. Borrego provides equal employment opportunities to all employees and applicants without regard to race, color, religion, gender, age, sexual orientation, national origin, ancestry, disability, genetics, veteran status or any other characteristic protected by state, federal and local laws. In addition to federal law requirements, Borrego complies with applicable state and local laws governing nondiscrimination in employment in every location in which the company has facilities. EEO M/F/D/V.

A Note to Third-Party Recruiters

Borregou0027s People + Culture team coordinates all recruiting and hiring at our company. Borrego does not accept unsolicited resumes from third-party recruiters, staffing firms, or related agencies. Resumes are only accepted from third-party recruiters, staffing firms, or related agencies if a signed agreement is in place AND if external recruiting assistance is authorized by the People + Culture team for a specific position. All unsolicited resumes will be considered the property of Borrego. Borrego is not responsible for any fees related to unsolicited resumes. 

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