• Senior Commercial Asset Manager - Wind

    Job Locations UK-London
    Job ID
    2018-1883
    # of Openings
    1
    Business Entity
    Octopus Energy Investments
    Category
    Octopus Energy Investments
    Type
    Permanent Full-Time
  • Overview

    About Octopus

     

    At Octopus we’re transforming the industries we operate in and improving the lives of millions of people. We’ve built market-leading positions in a number of specialist sectors, including smaller company financing, renewable energy, healthcare and property finance. We employ over 500 people and manage more than £6 billion on behalf of more than 50,000 investors. Our products don’t just help real people solve real life problems, they also make a positive impact on the world around us.

     

    The Octopus Group incorporates Octopus Energy, Octopus Healthcare, Octopus Investments, Octopus Property, Octopus Ventures and Octopus Labs. Our aim is to have an impact in everything we do, and to make a vital contribution to the UK economy by helping people, companies and institutions generate wealth. And we’re always on the look-out for smart, talented people who share our values.

     

    About the role

     

    We are looking for a Senior Commercial Asset Manager (Senior CAM) who will be responsible for the management of an expanding portfolio of wind farms worth in excess of £530m. The wind portfolio is currently one of the largest commercial onshore wind portfolios in the UK. The companies are owned by investors in Octopus managed funds or companies. The role sits within the Octopus Energy Asset Management team, which is responsible for the management of c£2.6bn of energy assets.

    The operational activities of the companies are managed by the Octopus Energy Asset Management Team; however, much of the day to day operations and accounting is outsourced. The Senior CAM will be accountable for all technical, commercial and financial aspects of the OEAM wind assets and the companies that own them, including reporting to management, lenders and investors. This will require strong management of outsourced partners to deliver the expected investment returns, resolve issues and de-risk the portfolio.

    The ideal candidate will have extensive Wind industry experience. They need to be exceptionally well organised, hardworking and conscientious to ensure that deadlines are met.  

    Responsibilities

    • Work closely with the operators of the power plants to monitor and optimise performance throughout the life cycle of plants; gathering and managing detailed data for the portfolio companies
    • Drive fast issue resolution incl. commercial decision making and getting approvals from the relevant investment committee as appropriate
    • Manage contractual framework agreements across the portfolio to drive efficiency across the portfolio and allow swift upsizing of the portfolio
    • Deliver portfolio optimisation in line with relevant deal closing strategy; this could include restructurings, PPA strategy, portfolio tendering, third party debt refinancing or exit strategies
    • Work closely with investment teams to assess contractual and/or commercial opportunities and risks with new deals, in the process preparing the asset management teams for asset on-boarding
    • Share their expert understanding of wind technology and performance drivers, as well as the wider UK energy trading market with the team and drive the commercial strategy of plants
    • Provide training and support for more junior members of the asset management team
    • Oversee and manage revenue and expenditure and cash balances in project companies (incl. drawdowns, dividends etc)
    • Update and maintain financial models, reflecting market conditions and operational performance
    • Support internal Octopus fund reporting, including periodic (quarterly) valuation of the portfolio companies
    • Support external financing reporting compliance work streams, including operational analysis and waiver request/consents
    • Maintain and enhance the risk monitoring framework in place, designed to identify any issues early and resolve them in a timely fashion
    • Have oversight of operational budgets for both operational and facility purposes
    • Review and critically analyse the management accounts of the project companies, reporting any issues to senior management and approving write offs as necessary
    • Review and approve audited accounts (before Director signs)
    • First port of call for questions from Directors, Funds, Committees, Banks etc.

    Qualifications

    Experience required

    • Typical candidate will have at least 5 years’ experience in the wind industry, with additional experience in other infrastructure management services
    • Significant knowledge of wind power plant operation and management, including understanding of key project milestones and key performance indicators.
    • Leading complex contractual negotiations including contract enforcement, taking into account commercial, legal and technical considerations
    • Knowledge of typical project documents (including SPAs, PPA, O&M and EPC contracts) and experience of managing external debt facilitiesDesirable experiences

     

    Desirable experiences

    • Management of key project contractors, including dispute resolution
    • Knowledge of private equity deals, project finance and private company valuations
    • Financial modelling experience desirable, but not essential
    • Commercial or legal background particularly with experience of contract law

    General attributes

    • Flexibility and “can do” attitude
    • Excellent communication skills, both verbal and written
    • Willingness to train and support others
    • Looking for a challenging role as part of an asset management career
    • Able to work under pressure and towards deadlines
    • Able to critically examine and question information from a variety of sources

    Our Values 

     

    Be helpful

    Random acts of kindness make the workplace a better place. So, go out of your way to be helpful, and give people reasons to smile.

     

    Be straightforward
    Life is complicated enough. Don’t make it harder for yourself, or for others. Sometimes the simplest approach works wonders.

     

    Be bold
    Every great business started with a flash of inspiration. If you’ve got a great idea, don’t keep it to yourself.

     

     

     

    At Octopus, we recognise the importance of embracing diversity in order to create a high performance culture.

     

     

     

     

     

     

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