Role: Associate, Project Finance
Location: Miami, FL
Who We Are
Spearmint Energy (“Spearmint”) is a next-generation renewable energy company enabling the clean energy revolution through developing and installing battery energy storage systems (BESS). Spearmint currently operates a 150MW/300 MWh BESS project located in West Texas, and is also developing over 20 projects, totaling over 10 GWh of capacity, across 10+ states in 4 regions of the United States. Headquartered in Miami, Florida with an additional office in Minneapolis, Minnesota, Spearmint is comprised of over 40 seasoned industry professionals across development and corporate functions and aims to be the preeminent green merchant energy company.
Spearmint develops, owns, operates, and optimizes battery energy storage systems with the aim of reducing grid volatility, increasing system resiliency, and helping minimize carbon emissions in a responsible and efficient way.
What You Will Do
The Associate, Project Finance will play an integral role within the Project Finance team as it seeks to execute Spearmint Energy’s capital strategy. This role is highly collaborative throughout Spearmint to assist in key financing activities both at the project level (including debt/equity fundings, term conversions, and tax equity raises) and at the corporate level. The Associate is responsible for financial modeling, preparing presentations for internal and external stakeholders, project level due diligence, consultant reports and documentation/approvals that are crucial for transactions. They will also be responsible for coordinating and managing external reporting deliverables for existing facilities. The job is located in Miami, FL.
Working with senior members of the Project Finance team, the Associate will contribute to various financial activities of the company. The ideal candidate should possess 3+ years working in a transactional role in energy infrastructure and project finance. In addition, the successful candidate will have strong financial modeling skills and an ability to summarize and communicate complex ideas succinctly. They will contribute to capital markets activities across project finance, tax equity & corporate. This is an opportunity to join a leading energy storage developer in a role that supports the continued growth of renewable energy deployment across the US with extensive exposure to key decision makers.
Core Responsibilities
- Hands on approach in all aspects of a transaction, including due diligence, assessment of transaction viability, negotiation, structuring and execution in coordination with internal and external partners (developers, lawyers, technical advisors, debt providers, EPC contractors, etc.)
- Support senior members of the Project Finance team in the financing and structuring of all deals, including sourcing of debt, tax equity and equity.
- Build / modify financial models and conduct economic analysis for portfolios of under construction projects, greenfield development projects and project M&A opportunities.
- Prepare presentations for internal and external purposes, including investors, lenders and the company’s Investment Committee.
- Coordinate due diligence logs, consultant reports and third-party documentation requests to support investor processes associated with debt, tax equity and equity raises.
- Conduct due diligence on potential projects for greenfield development and acquisition opportunities, as needed.
- Follow the microeconomic trends of the clean tech sector (regulatory framework, tariffs, US renewables targets, etc.)
- Collaborate across internal teams including Development & Construction, Engineering, and Asset Management to manage ongoing financing requirements.
- Review amendments for material project documents and coordinate with financing parties for approval and consent.
- Help maintain relationships with financial investors and portfolio teams during construction and operations, including tracking and managing compliance with facility covenants and preparation of external deliverables, such as tracking models, performance and financial reports.
Who You Are
- 3+ years’ experience in project finance (experience in the renewable energy Industry is a plus).
- Experience building, maintaining and auditing project finance models, with the ability to produce and analyze summary economic data.
- Demonstrated interest in a career in renewable energy, project development, and/or finance.
- Desire to work in a transaction-based environment where requirements and tight deadlines are often dictated by deal flow.
- Proven track record of working well within a team environment, taking ownership of processes and procedures.
- Excellent interpersonal skills, highly motivated and results oriented, process oriented with strong organizational and communication skills.
- Attention to detail and the ability to set and meet realistic deadlines in a fast-paced environment.
- Excellent discretion in handling confidential information and in communicating with third parties.
- Understanding of loan structures, tax-equity structures and partnership tax principles are a major plus.
- Exposure to valuation concepts, DCF, NPV, IRR, cost of capital, to assist the firm in making investment decisions.
- Highly resourceful and comfortable working in an unstructured, entrepreneurial environment.
- Proficient on MS Excel, Word, Access, PowerPoint, etc.