• Asset Management Director - Wind and Solar

    Job Locations UK-London
    Job ID
    2018-1887
    # 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 an experienced Asset Management Director to manage an expanding international portfolio of solar and wind farms. The portfolio, which includes one of the largest in the UK, is owned by investors in Octopus managed funds or companies, primarily as a long term hold. The assets are valued in excess of £2Bn and generate EBITDA of c.£120m on revenue of c.£160m.   P&L responsibility for the portfolio sits with the Asset Management Director.

    The Asset Management Director has a team of 15 and is a senior position within Octopus Energy Asset Management (OEAM), which is responsible for the all aspects of energy assets (total value £2.6Bn) once they have been acquired, as well as on-going funder management and reporting.   Octopus’ ambition is to significantly grow the portfolio both in the UK and abroad as well as potentially expanding to new technologies such as off-shore wind. The Asset Management Director is expected to be an Investment Committee member and his/her team will also support the due diligence and onboarding of new assets.

    The wind and solar assets are held in SPVs that have no staff and, though much of the day to day operations and accounting is outsourced, the Asset Management Director is accountable for all technical, commercial and financial aspects of the assets and the companies that own them, as well as defining and driving the asset management strategy for the portfolio.   Driving maximum financial and operational performance whilst minimising risk across the portfolio requires robust, open, honest and effective management and collaboration with outsourced partners and the ideal candidate will have demonstrable expertise in this area.

    The ideal candidate will have extensive Wind industry commercial experience. They will be comfortable operating at C level and will be passionate in their ownership and accountability for the portfolio they manage.

     

     

    Responsibilities

    • Define, measure, deliver and be accountable for the asset management strategy for solar and wind, such that investor returns are enhanced and risk is minimised.
    • Drive fast issue resolution incl. commercial decision making and getting approvals from the relevant investment committee as appropriate
    • Ensure effective management and cooperation with the operators of the power plants to monitor gather and manage detailed data for the portfolio companies and optimise performance throughout the life cycle of plants;
    • Manage contractual framework agreements across the portfolio to drive efficiency and quality and allow swift upsizing of the portfolio
    • Deliver portfolio optimisation; this could include operational or technical projects, restructurings, portfolio tendering, third party debt refinancing or exit strategies
    • Oversee competent financial and cash management of the SPVs including accounting, budgeting, revenue and cost management, cash management and forecasting. This includes maintaining operating budget models that are also relied on for valuation purposes
    • Manage risk carefully, including all aspects of HSE and defining and overseeing a broader risk management framework in place, designed to identify any issues early and resolve them in a timely fashion
    • Design, deliver and manage appropriate insurance and other risk mitigation policies across the portfolio
    • 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
    • Proactively share expert understanding of technology and performance drivers, as well as the wider UK energy trading market with the team and drive the commercial strategy of plants
    • Own all aspects of bank loan reporting across the portfolio and support all aspects of equity reporting and fundraising. This will include presenting at Investment Committees, Fund Board meetings and Fundraising pitches as necessary.
    • Develop a competent, upskilled and motivated team
    • Work collaboratively with the business operations team to identify and provide business knowledge for process and technology improvement projects and drive team to continuously improve and adopt new processes and technologies as they are implemented.  

     

     

    Qualifications

     

    Experience required

    • Leadership of complex contractual negotiations including contract enforcement, taking into account commercial, legal and technical considerations
    • Material team management and development skills
    • Significant commercial experience in the wind industry, preferably with additional experience in other infrastructure management services
    • High level of competence communicating with a wide range of C level stakeholders, including funders
    • Strategic leadership and communication skills
    • Experience of managing construction

    Desirable experiences

    • Knowledge and experience of private equity deals, project finance and private company valuations, including investment committees and other financial governance
    • Financial management, accounting or forecasting skills

    General attributes

    • Highly experienced yet humble and focussed on training and supporting others
    • Flexible and positive with a “can do” attitude
    • Calm and measured yet tenacious, creative and results focussed
    • Excellent at delegating, yet able to quickly identify when he/she needs to step in
    • Looking for a challenging role in a fast moving and constantly evolving environment 

     

    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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