REC Solar, inc.
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Director, Project Finance
at REC Solar, inc.
Title: Director, Project Finance
Reports to: VP, Operations
Location: San Luis Obispo, CA, Petaluma, CA, Bay Area, or Charlotte, NC
REC Solar is a trusted provider of high-quality solar and energy-saving solutions to a wide range of commercial customers nationwide, including businesses, governments and non-profits. The company provides financed end-to-end service offerings to help its customers reduce energy costs, decrease greenhouse gas emissions and demonstrate corporate sustainability. As a Duke Renewable Ventures portfolio company, REC has access to an unprecedented depth of expertise and partners that we can use to positively impact our customer’s energy strategies.
Our team has unmatched expertise in helping customers maximize their solar investments. Their skillsets, passion and commitment to our clients sets us apart. We are looking for team members that want to make a difference at REC Solar, for our customers and in the world.
The Director of Project Finance is responsible for all aspects of REC Solar’s project finance activities. As a wholly owned subsidiary of Duke Energy Renewables, this position will work closely with Duke Energy Renewables and Duke Energy Structured Finance to most effectively utilize Duke Energy investment capital. To effectively utilize Duke Energy capital, this position will need to utilize both debt and tax equity. In addition to working with Duke Energy capital, the position will also maintain third party financing relationships to ensure REC has the most competitive financing sources available on the market. The position will also be responsible for determining the PPA price we bid to customers, which requires a deep understanding of the current market return expectations.
Our ideal candidate will
•Drive the cost of capital for Duke Energy down by working with debt and tax equity providers to structure Duke Energy’s equity
•Develop strong working relationships with Duke Energy’s Renewables and Structured Finance teams
•Maintain key relationships with banks, financial institutions and tax equity providers to ensure valuation is at the most competitive terms and oversee financing through financial close
•Review and negotiate project agreements, debt financing, joint development and partnership agreements.
•Perform project due diligence across various functional groups including EPC, O&M, asset management, interconnection, real estate, permitting and environmental, and insurance.
•Oversee the creation and maintenance of pricing tools for financed solutions including lease, PPA, PACE, bank loans and others as applicable
•Integrate pricing tools with our investors’ financial models and structure/return requirements
•Work with Sales/Marketing team to clarify value proposition and help close with financial decision-maker
•Determine the PPA price the Sales team bids to customers which requires deep understanding of the current market return expectations
•Understand applicable incentives and rate structures that drive financial value
•Train Sales/Marketing/Operations personnel in key aspects of financial sales process
•Place financed projects with appropriate 3rd party financiers, including driving the contracting processes.
•Oversee the creation and maintenance of information memorandums and data rooms for active financed projects
•Recruit and train project finance department staff as necessary
•Oversee and continually update credit approval process
•Perform fiduciary role in managing portfolio risk
What you’ll need in order to succeed
•Bachelor’s degree in Business, Economics, or a related field (MBA preferred)
•A minimum ten years’ experience in project finance as it relates to renewable energy
•Experience leading tax equity structuring and sell side transactions
•Expert in MS Excel and high proficiency with other MS Office products
•Able to communicate complicated and technical points clearly both verbally and in writing
•Knowledge of principles of GAAP
•Able to meet deadlines with minimal supervision
•A keen eye for process and efficiency improvement
•Excellent interpersonal skills—able to collaborate within your team and cross-functionally
•Display integrity in all dealings
•Experience with credit analysis beneficial but not necessary
Earn & save for your future
We offer a very competitive compensation/benefits package designed for you to earn, save and live well.
Industry competitive base salary
Medical, dental & vision coverage
401K savings plan
Flexible spending account
Casual work environment & dress code
Opportunity for career growth and advancement
Help us realize our vision
To build a sustainable energy future by providing our customers the power to choose solar and smart energy services to lower cost, decrease greenhouse gas emissions and demonstrate corporate responsibility.
REC Solar is an equal opportunity employer committed to diversity in the workplace and does not discriminate against any employee or applicant for employment because of race, color, sex, pregnancy, religion, national origin, ethnicity, citizenship, sexual orientation, gender identity, age, marital status, disability, genetic information, military status, protected veteran status or any other factor protected by applicable federal, state or local laws. REC Solar complies with all applicable state, federal and local laws, regulations and ordinances prohibiting discrimination in places where we operate.