Contribute to the success of ENGIE's Grid Scale Renewables operations and lead a team with cross-functional skill sets to achieve the diverse objectives for the Commercial Management and Asset Optimization group here at ENGIE North America.
We have an immediate opening for a Director of Commercial & Asset Management
in Houston, TX
Reporting directly to the Vice President- Head of Partnership Execution, you will be responsible for profit and loss of assets in operations, near and long-term risk management, execution of partnerships obligations, commercial management and PPA client-relationships, asset optimization, structuring, restructurings, and commitment and dispatch strategies for grid scale renewables in MISO, PJM, Northeast and Canadian markets.
What you'll do:
- Establish and implement asset management strategy for our renewable assets in PJM, MISO and Northeast markets, optimizing overall margins and key financial metrics post-COD
- Understand the management and legal and commercial requirements of complex partnership, tax equity structures, and financing arrangements and be able to operate and maximize asset value within that framework
- Manage partnerships with utmost ethics acumen; report to joint venture company boards and address questions from various equity partners on all commercial matters associated with any given renewable facility
- Direct structuring, evaluation and contracting efforts for the portfolio of assigned assets including marketing and negotiation strategy for new contracts, as well as optimization / restructuring / extending / expanding / replacing existing contracts.
- Develop and execute hedge strategies to manage the risks imbedded in each asset and renewable portfolio as a whole, while maintaining the portfolio within corporate risk guidelines
- Develop and drive asset optimization projects and opportunities including project due diligence, financial analysis and quantification of value creation, implementation and close out trough cross-functional Deep Dive events and team collaboration in order to achieve financial value in excess of performance targets
- Responsible for the on-boarding of new assets and coordination with various stakeholders, while maintaining an in-depth understanding of energy markets, energy policy, market fundamentals, and ISO protocols for assigned assets
- Develop and maintain gross margin assumptions for each asset for annual business plans, business interruption insurance planning and other internal forecasting efforts
- Interface heavily with the Business Unit's Compliance and Governmental & Regulatory Affairs groups to ensure NERC/CFTC/PUC/IMM and other governmental compliance, as well as support Regulatory Affairs advocacy efforts and initiatives
- Support Business Development, Origination and Storage teams in the due diligence, development, contracting, bid submittals, and operations of new greenfield development and acquisition projects
What you bring:
- Bachelor's Degree in related field (Financial or Engineering) is required; MBA preferred
- 15+ years of extensive industry experience required, particularly in the areas of commercial optimization of renewable power assets and operations, and energy risk management.
- Experience in the market structure and protocols of multiple ISO's such as PJM, MISO, ISONE, NYISO and Canadian markets is required.
- Experience with successful P/L responsibility and experience in ERCOT and SPP is highly desirable.
- Battery/Storage experience is a plus
- Extensive commercial experience and in-depth knowledge and involvement with power purchase agreements, tax equity agreements and other standard and non-standard contract terms, delivery provisions, etc. Experience with portfolio optimization and resource management.
- Experience with markets, protocols, operations and dynamics, including zonal/nodal regimes, congestion mitigation mechanism, generator interconnection rules, etc. is a must.
- Experience in managing renewable assets primarily grid scale wind and solar facilities
- Able to unravel and interpret complexity in contracts, tariffs, regulations, market rules. Experience with identification and economic assessment of optimal commercial structuring alternatives.
- Experience with impacts on markets resulting from regulatory change
- Experience with futures, forwards, swaps, spread options and other derivatives.
ENGIE North America isn't just participating in the Zero-Carbon transition, we're leading it! Join us as we develop energy that is more renewable, more efficient and more accessible to everyone.
Unite with us in leading the transformation of the world of energy! ENGIE is looking for talented and motivated individuals to create the future of energy and customer solutions. Join a rewarding and flexible work environment that encourages innovation and creativity to help customers meet their energy challenges today and in the future. Are you up for the challenge?
At ENGIE, our goal is to support, encourage, promote, and thrive on diversity, equity, and inclusion. We do so for the benefit of our employees, customers, products and services, and community. So ENGIE is proud to be an equal opportunity workplace, and is also an affirmative action employer. We are firmly committed to creating an equitable and inclusive environment for all employees.
We are committed to providing employees with a work environment free of discrimination and harassment. All employment decisions at ENGIE are based on business needs, job requirements and individual qualifications. ENGIE is committed to providing equal employment opportunity regardless of actual or perceived race, color, creed, religion, national origin, ancestry, citizenship, age, sex or gender (including pregnancy, childbirth, and related medical conditions), gender identity or gender expression (including transgender status), sexual orientation, marital status, civil union, or domestic partnership status, military service or veteran status, physical or mental disability, protected medical condition, genetic information, or any other legally protected category (referred to as "protected characteristics") as defined by applicable federal, state or local law in the locations where we operate.
If you need assistance with this application or a reasonable accommodation due to a disability, you may contact us at ENGIENA-ENGIEHR@engie.com . Please note: This email address is reserved for individuals with disabilities in need of assistance, and is not a means of inquiry regarding positions or application status.
- Posting Date: Oct 6, 2020