Join Our Team at Lightsource bp
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. As a global developer, LSbp has adopted a capital-light model designed to retain management and equity interest in projects whilst minimizing capex and debt consolidation. Therefore, once developed, project funding is relying extensively on third party capital including debt, tax equity, structured and / or common equity. This is a hybrid role and must be performed out of our Austin, Denver, or San Francisco office.
Core Responsibilities
Financial Modelling
- For each individual asset portfolio, creating, developing and maintaining appropriate and robust financial models capable of :
- Calculating returns and valuations for investments.
- Sizing debt, calculating ratios and running sensitivities for different scenarios.
- Assisting in short-, medium-, and long-term corporate level business planning and budgeting.
- Update portfolio models with actuals provided by the Finance team.
- Providing support in debt financing / re-financing and M&A transactions.
- Working with independent advisors (technical, legal, tax) and internal teams to develop in-depth knowledge of value drivers (e.g. technical, tax & accounting, Opex assumptions, and optimum capital structure).
- Providing good quality, timely financial modelling advice to stakeholders (debt, tax equity, partners & internal stakeholders), in a way that non-specialists can readily understand.
- Maintaining the monthly, semi-annual and annual cash flow models and assessing the impacts of model outputs on short- or long-term financing requirements.
- Supporting with Budgeting and financial planning.
- Supporting with Board presentations and analysis for various stakeholders.
Portfolio Valuation Activities
On a regular basis, review the Asset Valuation Framework and provide update recommendations on matters including :Valuation methodologyModelling assumptions settingFinancial KPIs and sensitivities to reportUpdate on a semi-annual basis all individual asset portfolio model by :Collating from other teams and / or recommending modelling assumptions in accordance with the Asset Valuation FrameworkUpdating models with financial actuals provided by the finance team and any agreed updated modelling assumptionsDelivering updated outputs, KPIs and sensitivities in accordance with the Asset Valuation FrameworkPrepare valuation reports (PowerPoint / word) in a timely manner (expected to be semi-annually).Provide ad-hoc model update to support specific investment or divestment initiatives undertaken by the IM team or the wider group.Create or update portfolio models for valuation and divestment purposes.Within the Investment Management Team
Support the IM Portfolio Management group on investor compliance matters including but not limited to modelling and presentations to lenders and other external parties (tax equity, JV partners etc.).Support the risk management & optimization of assets by :Performing financial analysis of proposals from other members of the team (e.g. Commercial Investment Director) or other LSbp teams (e.g. power marketing)Providing analytical support on risk analysis / scenario planning under the guidance of other members of the teamProvide analytical and modelling support to investment / divestment opportunitiesIn conjunction with the wider IM team (and other cross-functional and local teams) contribute to the generation of new asset investment or divestment ideas, which, then, may be discussed with other teams, analyzed and eventually implemented. Such ideas to cover :Maintenance capexOperational improvementSite improvement (e.g. extension, new battery etc.)Other Commercial improvements (e.g. amendment to commercial contracts)Potential assets candidate for divestments or refinancingInteraction with Other Teams
Report / recommend (where applicable) to internal stakeholders (e.g. Regional CFO, Regional Head of Asset Management, LSbp executive committee etc.) on financial performance or valuation matters relating to the portfolio being managed.Day-to-day engagement with the Structured Finance Team including but not limited to :Seeking full understanding of closed projects.Taking ownership of financial close models (with a view to creating a fit-for-purpose valuation model);Ensuring valuation models share best practice with the structured finance modelling team.Supporting refinancing or M&A processes led by the Structured Finance TeamDay-to-day engagement with other teams including but not limited to :Ensuring that actual performance (prepared by the Finance team) is analyzed and incorporated in the valuation models on a regular basis.Ensuring modelling assumptions have been collated and / or reviewed with other teams (e.g. Asset Management, local development, tax etc.) in accordance with the Asset Valuation Framework.Ad-hoc interaction in relation to valuation of potential investments / disposals.Who We're Looking For
Knowledge
Strong excel skills, VBA, Power Query, Power Bi (or similar data analysis tools) are a must.Able to build financial models for project valuations and raising project level debt.Understanding the key drivers that will impact a valuation.Understanding key project finance debt sizing requirements.Good exposure and understanding of typical tax-related problems that can arise from investing in businesses outside the UK.Qualifications
Engineering or business degreeExperience
Proven ability to independently build financial models (including operating models), run sensitivities and question assumptions on project finance transactions.Track record of acting as the primary modeler on a debt raising transaction within a financial institution, a financial advisory or a model auditing firm.Prior experience in taking a project through an IC committee including building models which present the business case for investing in a project would be a plus, although not necessarily required.Prior valuation experience would be a plus but is not necessarily required.3-5 years of relevant work experience.What Challenges Can You Expect In This Role?
In this role, you are expected to deal with multiple stakeholders across a complex matrix environment. You may not have all "pieces of the jigsaw" at any one time, but will be expected to think two or three shots ahead. You (alongside the wider IM team) are expected to support Regional Heads by going into the details and "distilling" critical matters. You must handle regular tasks in a consistent, predictable and professional manner whilst being able to step-up on "emergencies" or critical issues. You must be able to connect with multiple stakeholders and think globally e.g. leverage best practices or learning from one area into the wider portfolio; provide strategic portfolio or regional insight from a detailed understanding of specific assets.
Why You'll Make A Great Member Of The Team?
Personal qualities
Ability to organize workload and prioritize to maximum effect for both you and your team.Flexible approach in a fast-paced business which is constantly changing, keeping a clear head under pressure.Excellent attention to detail when checking information with an ability to recognize and question anomalies.Keen problem solver who can focus on appropriate details when solving problems and propose