Vice President – Project Finance – Main Street Power
Main Street Power Company, Inc. (MSP) is a developer, owner and operator of distributed generation photovoltaic solar systems. We provide secure long-term solar power to customers by combining power purchase agreements with government and utility incentives. MSP specializes in providing financing solutions for its residential, distributed generation and large-scale solar clients that can include the entire capital stack of pre-construction capital, construction financing, and permanent debt and equity. MSP has a strong financial partnership with Morgan Stanley that began in 2009 and continues to evolve.
MSP has formed partnerships with seasoned project developers, experienced EPC contractors, large specialty contractors, O&M service providers, and financing sources of term debt and strategic tax equity. Our primary C&I clients include creditworthy public schools, universities, utilities, municipalities and public sector clients. MSP’s structured finance products and standardized closing processes allow us to tackle PV solar projects of any scope and size. Our in-house asset management and engineering capabilities support our long term ownership model.
Main Street Power offers a fast paced, fun, entrepreneurial work environment in a growing industry.
The VP-Project Finance is responsible for all project-level finance activities and will work closely with the CFO and the BD team. The company’s goal is to close financing on 40 MW of C&I and 40 MW of residential projects in 2014. The VP-Project Finance will work with the CFO to structure debt, tax equity and permanent equity financing for these portfolios, as well as to evaluate strategic financing alternatives at the corporate level. He or she will be expected to develop relationships with capital providers, originate a full range of financing products and negotiate term sheets and financing documentation. The VP-Project Finance will be responsible for developing project financial models, will manage at least one financial analyst and grow the team as needed. He or she will also work closely with the Morgan Stanley team to develop financing structures that meet their return and regulatory hurdles. This position will report to the CFO and will be required to provide additional support to the BD team, GC and COO in structuring, originating and closing the transactions.
KEY ROLES AND RESPONSIBILITIES
- Financing Partner Relationship Management: Develop and maintain relationships with present and potential project debt and tax equity partners; interact with them to solve problems, develop solutions, and complete projects.
- Project Financial Modeling: The VP-Project Finance will have overall responsibility for project financial modeling, with the support of a financial analyst and the BD team.
- Financial Structuring: Work with the CFO, GC and Morgan Stanley to develop debt, tax equity and project equity structures that allow the company to most efficiently finance projects. Support the CFO and CEO in developing and evaluating strategic financing alternatives at the corporate level.
- Project Finance Execution: Work with the CFO, GC and Morgan Stanley to originate, negotiate and close project finance transactions, including term sheet development and negotiation, managing competitive processes to source financing, managing financial source diligence processes and negotiating documentation.
- Business Development: Support the BD team in developing and evaluating financeable deals and in developing competitive bid pricing based on optimization of capital sources.
- Management: Manage and grow a project finance team that will initially consist of one financial analyst that reports directly to the VP-Project Finance. The VP-Project Finance will be expected to serve as a mentor to the junior member(s) of the team.
- Business Process Improvements: Work with the COO to effective collaboration between the BD, Finance and Legal teams to ensure successful growth of company.
- 5-10 years of project finance experience; at least 2 years in the renewables industry.
- Demonstrated track record of developing, originating and closing debt and tax equity structures.
- Strong network of relationships in the debt, tax equity and project equity community, including banks, insurance companies, private equity and non-traditional sources of tax equity.
- Demonstrated ability to negotiate complex contractual agreements and pricing models; experience with solar PV preferred.
- Financial acumen, and ability to develop and build complex financial models.
- Ability to manage and lead project finance team and to achieve deadlines.
- Willingness to travel; in particular, will spend significant time working with Morgan Stanley in the New York area.
- Undergraduate Degree required, Graduate degree (MBA, Engineering) preferred.
- Outstanding interpersonal skills.
- Excellent written and verbal communication skills.
Competitive base and variable pay. Equity participation. Excellent benefits.
Candidates will be evaluated through DiMarchi Partners (www.dimarchi.com), but applicants should provide their initial information (cover letter and resume) through the application link: https://mainstreetpower.quickbase.com/db/bfrdkvhb2?a=nwr