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Investment Associate

Evolve Energy

Evolve Energy

Accounting & Finance
New York, NY, USA
Posted on Thursday, July 11, 2024
Octopus Energy Generation (OEGEN) is a leader in sourcing, investing in, and managing a wide range of utility-scale renewable energy assets. As we continue to expand our investment base, we are dedicated to building a diverse team that reflects the communities we serve. We are looking to expand our team in New York as we continue to scale our assets under management of over $8bn globally and expand our presence in North America.
Since our entry into the renewables market in 2010, OEGEN has achieved remarkable milestones, becoming a leading investor in onshore wind across Europe and the largest investor of solar power in Europe. We recently entered the North American market with the establishment of Octopus Energy Generation US (“OEGEN US”) and our first US deals including investments in two operational utility-scale solar projects in PJM; co-leading a Series A investment into Cultivo, a nature-based solutions platform, and a growth equity investment into Ocergy, which designs floating offshore wind platforms. These investments were made through different funds managed by OEGEN, all of which are actively fundraising and targeting more deals in North America.
The OEGEN US team is based in New York and includes four investment and fundraising professionals who work closely with the larger OEGEN team of 180 professionals in London. We have amassed a pipeline of investment opportunities in North America of over 9 GW. These include both development platforms and asset-level investments.
The Investment Associate role presents a unique opportunity to be a key team member in an entrepreneurial, growing team and drive forward the strategy to become a specialist energy transition fund manager in North America. In addition, you will have exposure to the other Octopus Energy Group companies in the United States including Kraken Technologies USA (tech platform) and Octopus Energy US (electricity retailer). Together, these entities have the mission to innovate and participate in the drive to net zero in North America.
This position will be based in New York City and follows our hybrid work policy of requiring 3 days a week in the office, subject to customary business travel.

What you'll do

  • Assist in origination activities and tracking of potential investment opportunities in North America
  • Evaluate new opportunities, considering returns in the context of identified risks, how these can be managed, and other mitigating factors. Opportunities will be either asset-level or platform investments but we expect a strong focus on core renewable generation (e.g. wind, solar, storage)
  • Analyze, own and maintain complex financial models which will include tax equity funding and back leverage facilities
  • Manage due diligence processes for transactions (including managing third party financial, legal, market and technical due diligence providers)
  • Prepare investment papers detailing new opportunities and strategic initiatives
  • Assist in the preparation of transaction documents including reviewing and assisting negotiations of contractual terms
  • Support on arranging tax equity funding and project finance as required which will include management of tax equity sponsors, lenders, and their advisors
  • Support on fundraising materials (presentation and financial models) as required to bring in new sources of US capital
  • Provide assistance on portfolio valuation, asset management and reporting process to investors

What you'll need

  • Keen interest in the renewable energy sector in North America with a focus on the United States
  • Prior experience, ideally in a renewable energy or infrastructure transaction role, from an investment bank, project finance lender, a fund manager, industrial or in a corporate finance team at one of the big 4 accountants
  • Strong analytical and Excel financial modelling skills, including VBA
  • Understanding of financial valuation theories coupled with core accounting and tax skills and an ability to read financial statements confidently
  • Exceptional project management and organizational skills. Evidence of managing complex workloads in a fast-paced environment
  • An ability to understand risks, reach a balanced appraisal of probability and severity, and communicate risk mitigation strategies
  • Commercial mindset, able to understand and communicate the impact of commercial positions on potential investments and the potential to own increasing degrees of decision making over time
  • A self starter with tenacity, initiative and a willingness to commit to deliver
  • Growth mindset to continually improve the way we work and the results we achieve
  • A strong team player with the confidence to exercise judgement appropriately, challenge and coordinate with colleagues at all levels of seniority

Why else you'll love it here

  • Equity Options: every Octopus employee owns part of the business. We’re a team, working together towards huge goals. Every person is crucial to our success, you should be rewarded as such.
  • Great medical, dental, and vision insurance options including FSAs.
  • Paid time off — we know working hard means also being able to recharge as needed, we trust our employees to get the work done and take the time they need.
  • 401(k) plan with employer match.
  • Parental leave. Biological, adoptive and foster parents are all eligible.
  • Pre-tax commuter benefits.
  • Modern office / co-working space.
  • Salary and compensation for this role ranges from $150K-200K depending on experience.
If this sounds like you then we'd love to hear from you.
Are you ready for a career with us? We want to ensure you have all the tools and environment you need to unleash your potential. Need any specific accommodations? Whether you require specific accommodations or have a unique preference, let us know, and we'll do what we can to customise your interview process for comfort and maximum magic!
Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.