Associate, Investment & Portfolio Management - National Grid Renewables

National Grid Renewables is a full-service renewable energy company headquartered in Minneapolis, Minnesota. National Grid Renewables has developed over 2,400 megawatts of wind and solar projects that are either operational or currently under construction throughout the United States. National Grid Renewables has a multi-gigawatt development pipeline of wind and solar projects in various stages of development throughout the United States. National Grid Renewables provides custom solutions for utilities and corporations looking to harness renewable energy for business growth. With deep roots in agriculture, National Grid Renewables prides itself on developing renewable energy projects that are farmer-friendly, community-driven, and beneficial for rural communities.

Position Description

The Associate, Investments and Portfolio Management is a key member of the investment team at National Grid Renewables (NGR). You will support all aspects of the business, including business strategy, investment management through leading projects through investment approvals, portfolio management through monitoring portfolio diversification and recommending opportunities for operational improvement, and pipeline management through producing analysis to support influencing the development pipeline to meet strategic goals. You will work closely with other teams within the NGR team, including Development, Origination, Construction, Engineering, Project Management, Legal, Tax, Project Finance, and Asset Management.

The Investments and Portfolio Management function at NGR is responsible for (i) end-to-end investment management, including ensuring transparent decision making throughout development, investment, and operations; (ii) managing and optimizing the NGR portfolio to execute on the agreed upon strategy elements; and (iii) owning data insights to facilitate producing the appropriate pipeline that will deliver on the long-term strategy owning and operating a diverse portfolio of onshore renewable energy assets, working with the NGR leadership team.

Key Accountabilities

Job duties of this role span the entire business, from development through operations.

Strategy

• Implement a business strategy aligned with the organization’s vision to achieve and surpass the long-term strategic goals
• Analyze and report directly to Manager on the alignment between annual plan, business planning, and strategy
• Research and assess economic and market trends to support strategic decisions

Investment Management

• Produce and present detailed pro-forma financials to the various investment stakeholders (Joint Venture Partners, Tax Equity Partners, etc.)
• Compile information and procure financial models to support the Origination, Management, and Project Finance functions
• Collaborate with project engineers, originators, developers, and pre-construction team to develop and refine appropriate assumptions for project models
• Build internal business case for proposed projects (payback, IRR, NPV, risk assessment, etc.)
• Analyze complex legal documents to determine impacts to financial model and investment strategy
• Procure and provide financial commentary to senior leaders for Investment Committee meetings
• Lead projects through the internal investment processes to ensure milestones are met in a timely manner
• Collaborate with the Vice President of Project Finance on modeling responsibilities throughout project finance transactions, including term debt, tax equity, and cash equity investments
• Procure and update financial models for the Vice President of Project Finance during the Tax Equity financing process, and assist in communicating to Tax Equity Partners on project milestones, risks, and returns
• Perform M&A due diligence on potential project acquisition opportunities by preparing buy-side project models and analyzing crucial project metrics
• Implement initiatives to improve financial optimization, underwriting, deal tracking, etc.

Portfolio Management (Operations)

• Review, compile, and model current and future portfolio performance
• Compile and summarize financial data and performance of operational assets
• Recommend changes to Executive Management on portfolio and assets based upon investment performance and desired portfolio composition
• Analyze and propose opportunities for operational improvement
• Monitor portfolio diversification and strategy

Pipeline Management (Development)

• Influence development pipeline to meet strategic goals and desired overall portfolio structure
• Interpret and review terms in power purchase agreements, operating agreements, and financing agreements to ensure alignment with the financial model
• Enhance pipeline valuation to assess the pipeline quality and reporting
• Model late-stage wind, solar, and storage projects
• Provide insight to the Origination team to ensure new offtake contracts are aligned with the desired operating portfolio metrics

Other

• Responsible for training in and mentoring new employees on the Investments and Portfolio Management team
• Audit pro forma financial models to ensure accurate representation of project risks and returns
• Performs other job-related duties as assigned

Leadership

Role model the National Grid values

• Do the Right Thing
• Find a Better Way
• Make it Happen
• Lead by example and be able to demonstrate high levels of leadership skills in the areas that are important to National Grid Renewables
• Create belonging
• Set direction
• Drive change
• Deliver results
• Develop others

Technical Capabilities (Knowledge, Skill, Experience)

• Educated to Bachelor’s degree level (in a relevant discipline)
• Experience 2-5 years
• Experience in renewable energy, power, or infrastructure preferred, but not required
• Collaborative positive attitude
• Driven and self-motivated
• Analytical minded and detail-oriented
• Strong written and oral communicator
• Ability to adapt quickly to changing priorities
• Experience using Microsoft Office Suite

All offers of employment are contingent upon the successful completion of reference check, & background check. National Grid Company is an Equal Opportunity Employer.

Pay Range for the posted level: $100,000.00 – 140,000.00

We offer a comprehensive benefit package, including Medical, Dental, 401(k) and disability benefits.

National Grid Renewables believe fostering diversity, equity and inclusion is everyone’s responsibility. Open, honest and respectful ways of working, learning and communicating are the cornerstones of a successful business, and leveraging inclusion and diversity lead to better business results. At National Grid Renewables, we’re focused on creating a work environment where our people feel respected and included, and therefore empowered to be themselves.