Do you want to work with high caliber professionals in a dynamic and growing company? Are you entrepreneurial, hard-working, and collegial? Are you committed to advancing the clean energy revolution? Join us at SB Energy, a leading company backed by SoftBank and Ares pairing cutting-edge innovation with best-in-class execution. Our Mission is to provide flexible renewable energy at scale, accelerating the global energy transition and benefiting our planet, customers, communities, and people.
SB Energy develops, constructs, and owns & operates some of the largest and most technically advanced renewable projects across the United States, with headquarters in Redwood City, CA. The company was launched in 2019 and has quickly become one of the largest solar and storage developer/IPPs in the U.S. With almost 3 gigawatts (GW) of renewable energy projects in operation or under construction and a multi-GW pipeline, SB Energy is building the renewable energy future – today. SB Energy also utilizes its strong culture of innovation to identify and incorporate new technology into our projects, including our AI-based digital platform, to deliver renewable energy that is local, reliable, and matched to load.
Come join us in accelerating the energy transition to cleaner, more sustainable sources of power!
Title – Senior Director, Asset Management
Basic Function:
The Senior Director Asset Management will monitor under development and operating utility scale solar projects across the United States to ensure optimal financial performance of the company’s solar PV plant portfolio. This includes the fiscal well-being of the assigned projects, and continuous evaluation of improved economics.
The Senior Director of Asset Management will also play a key role in the development of the revenue Annual Operating Plan. In this role they will closely work with the Commercialization and Finance teams.
Responsibilities will include contract management, project reporting and coordination of financial, commercial, and administrative tasks. It also encompasses final review of financials, and all project scheduled documents effectively forwarded to project shareholders with a high level of quality. The Senior Director Asset Management will report directly to VP of Operational Excellence.
Duties & Responsibilities:
- Lead the Asset Management (AM) team.
- Responsible for project P&L and ensuring portfolio is performing at or above Annual Operating Plan.
- Leader of team to manage and develop the AOP Plan.
- Assess and understand energy markets and impact to the portfolio.
- Develop & manage project annual budgets, and monthly actual to budget reports.
- Own and drive internal AM KPIs.
- Coordinate with accounting to ensure timely payments, accuracy of billing and revenue and expense allocations.
- Ensure project companies and affiliates are operating per equity and debt financing documents.
- Review and approve cash distributions to financing parties.
- Review and sign off investor reports and resolve any issues or questions.
- Review financial (quarterly and annual) statements and review Annual Tax Returns prepared by accounting team.
- Review performance reports, investigate issues and create initiatives to improve financial and operational performance of the projects.
- Manage all project contracts to ensure compliance and assist in setting up systems and processes to standardize contract management and reporting including implementation of contract obligations into Asset Management software.
- Coordinate with legal and contracts team on contract amendments as needed.
- Develop and manage smooth handover process from development, finance, and construction teams to Asset Management.
- Collaborate with internal teams and external partners to identify revenue increasing and risk mitigation opportunities.
- Manage relationships with project stakeholders including offtakers, landowners, ISOs, regulatory entities, and financing parties.
- Manage and resolve contractual, regulatory, and commercial issues as they arise.
- Review settlements statements and create revenue invoices. Coordinate with relevant counterparties on disputes, as necessary.
- Be part of team that reviews vendor relationships including the O&M provider.
- Assist in acquisition due diligence including identifying operational risks, costs, and opportunities for improvements.
- Experience with Portfolio Valuation and Management in traded electricity (ERCOT and CAISO preferred) and natural gas markets.
- Experience with traded products and hedging instruments such as Swaps, Options, FTR/CRRs, PTPs and virtuals.
- Experience with operational risk surround margining and clearing traded products.
Qualifications/Requirements:
- Bachelor’s degree in business, engineering, finance, economics, or related field.
- Advanced degree or additional certifications such as PMP, MBA is preferred.
- 15 + years of experience in the energy industry.
- Knowledge of the energy and renewable energy market, and the ability to stay current with changing technologies, regulations, and trends influencing the continued adoption of renewable energy.
- Commercial mindset, strong prioritization, communication, and organizational skills.
- Understanding of integrated plant operations and prior operational experience a plus.
- Experience with ISO market scheduling, forecasting and settlements as well as hedge arrangements.
- Strong understanding of project finance, legal contracts, accounting, and contract/warranty negotiations.
- Experience with Asset Management software tools.
- Experience with standard financial metrics and analyses (IRR, ROI, NPV, and DCF models).
- Experience creating and performing financial modelling.
- Strong learning skills with aptitude to independently research, understand, and implement knowledge in new areas.
- Proficiency with Microsoft suite; Word, Excel, Project, Outlook, and PowerPoint.
Location: California, Colorado, Arizona, Texas, or Remote option available.
The position requires up to 25% domestic travel (once normal travel requirements resume).
Base Pay- $180,000 - $220,000
Actual compensation packages are based on several factors that are unique to each candidate, such as skill set, experience, certifications, specific work location, and other non-discriminatory factors permitted by law. Base pay may vary per location due to differences in the cost of living.
The total compensation package for this position may also include an annual discretionary bonus, full Health & Wellness Benefits package, generous Long Term Incentive plan designed with our partnership mentality in mind, and other applicable incentive perks as outlined in any formal offer made. The final compensation package will be discussed with the candidate during the final stages of the hiring process.
Our Health & Wellness Benefits
SB Energy’s Benefits programs are designed to support our team members and their families while keeping their well-being, happiness, and varying needs in mind. SB Energy employees may enroll in our benefits programs and take advantage of customized perks and offerings, including those designed to support families, however defined. We offer the following benefits to all team members:
- Comprehensive Medical, Dental, and Vision insurance: 100% premium covered by the company, for employees and dependents.
- Long-Term Disability (LTD), Life Insurance, and AD&D Plans
- Competitive Retirement Benefits with 401(k) company match
- Generous Paid Time Off and 11 Paid Company Holidays
- Flexible working arrangements
- 12 weeks fully paid Parental Leave
- Flexible Spending Account (FSA) – Medical & Dependent FSA; Transit & Parking FSA with employer contributions
- Mental, Physical, Social Health Wellness Offerings with employer contributions
- Voluntary Legal Insurance Plan & Pet Insurance
- Monthly reimbursement for Phone/Internet/Data
- Phone Equipment Purchase Benefits
- Thoughtful Hybrid Workplace Set-up Benefits
Promote Sustainability with a Purpose - At SB Energy, you may choose to become a part of our ‘Just Renewables’ Committee and work along with team members who share a belief in pursuing our mission in such a way that empowers a diverse and inclusive workforce that advances social justice and equity for our employees as well as partners and communities!
SB Energy is committed to increasing the diversity of its workforce and is proud to be an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, creed, gender, national origin, age, disability, veteran status, marital status, pregnancy, sex, gender expression or identity, sexual orientation, citizenship, or any other legally protected class. SB Energy strives to create an inclusive culture and safe environment for all.
To learn more about us, visit www.sbenergy.com.
