Director - Commercial Investments

We are Lightsource bp – and we’re on a mission to become a global leader in onshore renewables, anchored by our proven track record in solar development.
For over a decade we’ve been actively working to diversify the way our world is powered with sustainable and responsible renewable power. We work to safely deliver affordable, reliable, large-scale onshore renewable and energy storage solutions to help the world decarbonise.
Our growing business is constantly innovating and investing to help drive the energy transition. Our people and projects are focused on supporting long-term sustainable growth and energy security.
Lightsource bp was fully acquired by bp in 2024.

Compensation: $150,000 to $175,000 annually plus a discretionary 25% on-target annual bonus.

Position must be hybrid and based out of Denver, Austin, or San Francisco.  This role is not eligible for remote work. 

What you’ll do
The IM Team 

The Investment Management Team (IM) is the guardian of LSbp operational investments with a focus on long term value creation. Within a matrix organisation, the IM team interacts closely with 
•    Structured Finance (that raises debt, tax equity and leads on M&A activities);
•    LSbp regions including project & business development, construction and asset management (which handles the day-to-day commercial and Operational management of the operating fleet);
•    Finance, which provides Financial MI. 
•    Power Marketing – which provide end-to-end power monetisation from long term offtake contract to short term RECs or capacity contracts;
•    Central teams (e.g. performance, legal, engineering centre of excellence etc)

Externally, IM handles relationship with Capital Providers from Financial Close or COD (depending on jurisdiction) in close coordination with Structured Finance.

The IM team is organised around three “verticals” (as below) supporting the IM Regional Heads (one for US and one for EMEA and APAC)
-    Portfolio Management
-    Valuation and Financial Modelling
-    Insurance

The IM Regional Heads are directly in charge of managing the financial and commercial performance of existing and future PV assets and any joint ventures partners. 

US Commercial Investment Director
The US Commercial Investment Director will lead alongside the US Regional Head the management of the US PV Assets Portfolio and joint venture partners. The current portfolio includes a 2.4GW Joint Venture between LSbp and its original founders (no longer in the business) across 9 portfolio and 23 projects. A further 1GW of solar and battery projects is expected to go into construction and be partnered within a 6 to 9 month horizon. 

Core Responsibilities
•    Reporting to the Global Head of Investment, manage capital providers and joint venture partners with the support of the wider IM team and in close conjunction with other LSbp teams – including regional asset management, structured finance, power marketing and finance
•    Alongside the Global Head of Investment and in conjunction with other LSbp stake-holders, devise the joint venture strategy 
•    Drive the commercial agenda – including commercial optimization; efficiency initiative; capital structure reconfiguration ahead of potential exit – with the support of IM teams and by coordinating with multiple LSbp teams & stakeholders. The commercial agenda is very wide and includes a number of dimensions – without limitation:
o    Contract reviews (e.g. scope, terms)
o    Detailed costs analysis
o    Value-accretive capex / one-off expenses
o    Power monetization strategy
o    Insurance strategy
o    Capital planning
•    Be accountable for budgeting, portfolio valuation and long term financial performance

Who we’re looking for
Knowledge
•    Solid Financial and Accounting knowledge
•    Able to understand and navigate through complex financial model (earlier experience as a financial modeler, whilst useful is not essential)
•    Ability to navigate, understand and manage complex contracts – strong knowledge of project finance and tax equity documentation would be extremely beneficial
•    Strong understanding of valuation techniques & methodologies

Qualifications 
•    Engineering / economic / business degree from a leading institution
Experience 
•    >5yrs Front office experience – ideally on the sponsor side, on the financing side (debt and tax equity if possible)
•    Alternatively, 
o    Strong late-stage development lead (e.g. EPC, PPA or other material contracts negotiation) OR 
o    Hands-on corporate strategy role (including M&A / capital planning / commercial and financial diligence) combined with earlier strategy at top consultancy firm
•