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Due Diligence Manager

Location: Boca Raton, FL

Department: Tech Ops - Due Diligence

Work type: Full-time

Overview

The Due Diligence Manager will have a long-term operating mindset. Bringing the organizations’ philosophy of excelling as long-term operators to the deal by having a deep understanding of downstream team’s standards and criteria. 5 years of experience in solar industry with good understanding of solar project technical characteristics.

Responsibilities

  • Inform the Investment Committee (IC)about an opportunities’ risks and mitigations, empowering the IC to make as informed a decision as possible on the proposed investment.
  • Long-term operating mindset: Bringing the organizations’ philosophy of excelling as long-termoperators to the deal by having a deep understanding of downstream team’s standards andcriteria.
  • Perform & manage opportunity Due Diligence (DD)
    • Leverage DD Lessons Learned as one of the pillars to plan DD.
    • Propose advisor selection, scope, budget and timing for technical DD.
    • Manage advisors for technical DD and coordinate with advisors across the board to identifyrisks and mitigations.
    • Schedule DD – identify/estimate key dates and outside dates.
    • Ensure Legal review is complete.
    • Perform review of/ensure main contracts have been reviewed e.g. EPC, O&M, AM, BESA,MSA etc.
    • Review impact on Investment Tax Credit (ITC) if applicable.
    • Coordinate/perform site visits if applicable.
    • In addition, depending on stage review:
      • Dev:
        • Permitting status and compliance
        • Land acquisition status and compliance
        • IX status and compliance
        • Development Services Agreement (DSA) review
      • Ready to Build:
        • Permitting status and compliance
        • Land acquisition status and compliance
        • IX status and compliance
        • DSA review
        • Equipment selection/replacement
        • EPC strategy
        • Procurement strategy
      • Ops:
        • Performance data
        • System site visit coordination
        • Warranty claims
        • Historical operating expense review
  • Provide key modelling inputs for the base case and suggest sensitivities/scenarios where applicable:
    • Project costs and basis for internal budgets:
      • DevEx: Internal and External adjusted to the portfolio’s stage
      • CapEx: Build costs + other ancillary costs; or repair/refurbishment budget, informing or consulting with relevant internal teams.
      • OpEx: Propose Opex and discuss with the O&M/AM team leveraging internal tools and knowledge.
    • For Dev deals: project sizes (based on site/technical DD i.e. buildable acres)
    • Yield:
      • Energy Production Estimate results after providing key project information and guidance to external or internal modelers.
      • and/or historical data review.
    • Useful life review and feedback
  • Influence and shape the deal to mitigate/minimize risks through the following:
    • Deal timing influence –proposing timing extensions or identifying and communicating the increased risk of tight turnarounds.
    • Deal DD budgeting –Understand the transaction structure and potential key risks to, with the deal team, provide a DD budget per deal stage to the IC and hold to it.
    • MIPA/PSA, DSA terms negotiation –highlight risks mitigate through transaction best practices and/or creative structuring leveraging the key transaction documents. Negotiate transition terms and services if applicable.
    • Deal format suggestion/change if required in collaboration with the deal team.
    • Bring your structuring skills and industry knowledge actively to the deal to contextualize it based on available and non-available information for the firm to process smoothly and accurately.
  • Post-deal –own and drive the handoff process:
    • Enabling all work downstream of DD to build on the knowledge acquired through DD
    • Providing project/portfolio:
      • Obligations:
        • Compliance with existing agreements or requirements e.g. site control;permits; EPCA etc; and
        • A smooth onboarding/internalization capturing the status of a given project
      • IC Budgets
      • Project Schedule
      • Smart sheet matrices
      • Vaulted VDR
    • Capture Lessons Learned
  • Reporting DD status of multiple portfolios concurrently across different stages and technologies.
  • Develop and optimize processes and procedures for streamlining the DD process.
  • Support the development and improvement of the GSRP management platform particularly as it pertains to due diligence and technical matters.

Requirements

  • 5 years of experience in solar industry with good understanding of solar project technical characteristics
  • Experience with battery storage and other technologies in the clean tech space highly valued
  • Engineering or Business BSc Degreerequired; Masters preferred
  • Working knowledge of key renewable energy document types: engineering, accounting, tax, agreements, permits
  • Proficient in:Excel, Word, Smartsheet
  • Experience with various VDR interfaces (Box, Firmex, Intralinks, Merril DataSite One, etc)
  • Very organized and able to multitask effectively
  • Good communicator both written and verbal skill
  • Demonstrated ability to problem solve and determination to complete difficult projects.
  • Demonstrated ability to improve processes and create efficiencies.
  • Highly developed sense of professional ethics.
  • Ability to work both on a team as well as independently.
  • Ability to communicate effectively with tact and diplomacy.
  • Commitment to quality.

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