Head of Origination & Execution USA

Job Summary

The candidate will have proven experience within origination, acquisition of early/mid-stage development assets, tax equity, project finance execution; plus excellent analytical skills, and a good knowledge of the renewable energy market in the US. The role will be to lead by example a small team of more junior origination and execution colleagues, managing workload for the team, maintaining flexibility to respond to the demands of a business that inevitably has ebbs and flows, as well as ensuring consistency in all financial analysis of new business opportunities.

The candidate should take direct origination and execution responsibility but also encourage the team to operate with a degree of autonomy and to take a holistic view of projects and to ensure projects proceed to the base case.

The successful candidate will be based in Austin, Texas, Manhattan, New York or Chicago, Illinois. A candidate who is a team builder and one who adopts a consensual approach to management is preferred to get the best out of a skilled team.

Company Overview

Cubico Sustainable Investments, established in 2015 and headquartered in London, is a global leader in renewable energy investment. Owned by Ontario Teachers’ Pension Plan and PSP Investments, Cubico boasts a 12 GW portfolio across 9 countries in wind, solar and BESS and circa 2,000 km of transmission lines. Cubico emphasizes five core values: diversity, respect, integrity, value creation, and excellence, which make up our sixth value, DRIVE. These values encourage employees to take pride in delivering energy transition investments that will make a positive contribution to the world. Cubico commits to a diverse, inclusive workforce and encourages applications from underrepresented groups.

Key Responsibilities

• Develop and implement the investment strategy for the US market, which complements the ongoing development activities
• Work with the Development team to acquire early stage and mid-stage opportunities. This will include in-depth experience in membership interests purchase agreements (MIPA) and purchase sale agreements and diligence associated with these projects.
• Lead a team of origination and execution staff to generate new investment opportunities for Cubico in USA
• Originate new deals and develop new relationships that lead to bilateral deals in-line with the agreed strategy
• Execute approved deals flawlessly to deliver business case
• Raise tax equity and project finance
• Focus on creating value by delivering value accretive opportunities
• Manage sale down of assets
• Prepare and defend deals in investment committees and support in Board meetings
• Allocate deal flow efficiently to respond to the changing demands of the business
• Liaise with the Global Head of Origination & Development, US Head of Development and functional teams to ensure proper resourcing of the origination and execution activity in USA
• Ensure proper evaluation of new opportunities
• Ensure proper reporting of pipeline and evaluation of opportunities
• Hire and train new employees
• Participate in US ExCom providing a holistic view of the business

Key Stakeholders

• Global Head of Origination and Execution
• US Country Head
• US Head of Development
• Other functional departments particularly Finance & Tax, Investment Analysis, Legal and the Technical team

Experience/Knowledge Required

• Extensive knowledge in acquisition of early and mid-stage development assets
• Experience in renewable energy deal origination and execution in the USA (ideally both greenfield and brownfield assets), including financial analysis, tax equity and project financing
• Experience and ability to lead and develop a team
• Experience developing and articulating a US investment strategy
• Good understanding of key drivers of an investment decision and how to optimise return
• Good knowledge of the risks and pitfalls of projects at different stages in the lifecycle and a rounded view of the various issues that can impact a project

Competencies:

• Self-starter who has the ability to manage a full and varied workload and deadlines and to prioritise and work under tight timescales
• Develops constructive professional relationships and builds relationships with external advisers, developers, banks, TE providers
• Clarifies tasks and requirements, organises time and manages workload to ensure deadlines are met
• Demonstrates a commercial outlook, and is motivated, bright and personable
• Strong attention to detail and accuracy with good analytical skill
• Excellent negotiation skills
• Articulate and excellent communications skills both written and verbal
• Highly reliable, collegiate and personable
• Ability to continually review and reassess priorities in response to changing situations and deadlines at relatively short notice
• Drive and passion to strive for high standards
• Proactive and pragmatic with a positive attitude and can-do approach
• Enthusiastic and able to take ownership of problems and provide solutions
• Ability to identify and manage transaction risks