Location: Honolulu, Hawaii (On-site)
Type: Full-Time
You’ll be the analytical engine behind sourcing, underwriting, and financing large commercial & industrial (C&I) solar and battery storage projects (no geographic restriction). Partnering with sales, delivery, and external capital providers (including mid-size pensions/OCIOs/insurance), you’ll build models, evaluate risk/return, shape capital stacks (equity/debt/transferable tax credits), and prepare crisp materials that move deals from screening to close.
Job Responsibilities
1) Underwriting & Valuation
- Build and own project finance models (P&L/cash flow, DSCR, IRR/MoIC) at P50/P90 with sensitivities (capex/opex, degradation, price/basis, curtailment).
- Size and optimize capital stacks: equity, construction/term debt, and IRA tax credit transferability (price, timing, indemnities).
- Run market- and tariff-specific cases (e.g., ERCOT merchant/hedged, ISO participation, behind-the-meter savings).
- Produce investment memos and one-page screeners with clear go/no-go criteria.
2) Due Diligence & Execution Support
- Coordinate technical, commercial, legal, and environmental DD; track open items and close conditions.
- Evaluate contracts (LOIs, EPC, O&M, interconnection, leases/host agreements) for bankability and lender/LP requirements.
- Create data rooms; manage version control; respond to investor/lender DDQs.
3) Capital Markets & Investor Support
- Build comparable deal comps and return benchmarks for pensions/OCIOs/insurance.
- Prepare equity and credit-transfer packages: sources/uses, waterfall, returns by tranche, sensitivities.
- Maintain a clean pipeline dashboard (stages, probabilities, critical path) and weekly forecast.
4) Reporting & Process
- Standardize model templates, diligence checklists, and close plans; document assumptions and exceptions.
- Post-close: set KPI baselines (availability, capacity, RTE, yield) and handoff packs for asset management.
Key Performance Indicators (KPIs)
- Model Accuracy: Variance of actuals vs. modeled base case at COD + 90 days.
- Throughput: # of qualified deals advanced per quarter; average DD cycle time.
- Capital Efficiency: Reduction in WACC via structure/credit transfer pricing.
- Quality: Rework rate on models/memos; completeness of data rooms.
- Stakeholder Satisfaction: Positive feedback from investment partners/lenders.
Qualifications & Requirements
- 3–6 years+ in project finance, investment banking, PE/infra, or energy finance (renewables preferred).
- Advanced Excel/Google Sheets modeling (debt sculpting, tax equity/transfer, macros a plus); comfort with probability cases/sensitivities.
- Familiarity with IRA incentives (ITC/PTC, transferability), debt LTV/DSCR norms, and EPC/O&M bankability.
- Clear communicator; strong memo and deck creation (Slides/PowerPoint); CRM hygiene (HubSpot/Affinity/Salesforce).
- Nice-to-have: Python for scenario runs, experience with ERCOT/merchant risk, and consultant/OCIO processes.
