Sr Director, Project Debt & Portfolio Controlling

RWE Clean Energy, LLC
To start as soon as possible, full time, permanent

Functional area: Finance / Controlling
Remuneration: Exempt

At RWE Clean Energy (RWECE), utility-scale renewable energy assets are financed via external project financing, specifically traditional term loans (debt financing), tax equity financing, and/or joint-venture partnerships.  These financings are a key contributor to RWECE’s growth and financial objectives allowing RWECE to monetize federal tax incentives for renewable energy assets and to continue to invest in and build new assets. 

The management of RWECE’s debt financings include complying with all debt-related agreements, ensuring debt service is timely paid, managing debt service coverage ratios, and overseeing relationships with admin, depositary, and collateral agents. The management of RWECE’s tax equity financings and joint-venture partnerships include handover of the financing and agreements from RWECE’s deal team, complying with all financing and partnership agreements, managing investor returns and partnership flip dates, oversight of operating cash flow and calculation of cash distributions, serving as main point of contact to investors and partners.
  
The Director, Project Debt & Portfolio Controlling's primary responsibility will be ownership of RWECE’s debt financings, ensuring payment of debt service, compliance with all contractual obligations, and day-to-day collaboration with the Project Debt Manager as their Team Lead. The Director will serve in a supporting capacity on tax equity financings and joint-venture partnerships, including evaluation of tax equity buyouts, standardization of buyout models and presentation materials, participate in calls with tax equity investors and/or joint-venture partners, support tax credit transfers, amendments to Key Project Documents, monthly cash distributions, and special projects as needed. The ideal candidate will need to have an understanding of commercial and operational topics for renewable energy assets, effectively collaborate and facilitate discussions with external and internal stakeholder groups such as Asset Management, Legal, Tax, Accounting, Structured Finance and maintain strong relationships with external stakeholders.

Role Responsibilities:

• Project Debt: 
  • Responsibility for administration of debt finance agreements to ensure compliance with contractual obligations
  • Ownership of monthly withdrawal certificate process required under Debt and Depositary Agreements
  • Responsibility for payment of quarterly debt principal, interest, letter of credit, and swap invoices, including understanding of how they are calculated so that all debt services invoices can be validated
  • Oversight and coordination of cash flow forecasts to ensure appropriate funding for operating expenses, debt service payments and owner cash distributions
  • Responsibility for quarterly debt service coverage ratio calculations
  • Build rapport with lenders to maintain positive working relationships and ability and willingness to work together to resolve any potential challenges
  • Analyze and review data, aggregate and provide reports and information to third parties per contractual requirements
  • Support future potential project debt origination (e.g. data collection / analysis, contract review, model review) and make recommendations around debt pre-payments
  • Respond to internal and external inquiries that impact financing contracts
• Tax Equity & Joint-Venture Partnerships:
  • Administer tax equity finance and joint-venture partnership agreements to ensure compliance with contractual obligations
  • Review materials for and participate on calls with tax equity investors and joint-venture partners to discuss project-level operational and financial performance and commercial issues
  • Evaluation of tax equity buyout transactions including standardization of buyout financial model and presentation materials
  • Support tax credit transfers including LLCA amendments, deliverables to buyers and distribution of proceeds
  • Review of monthly cash distributions
  • Support team on asset-specific commercial and operational performance topics
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