Offshore Wind Commercial Director
London, UK
Octopus Energy Generation ☀️ – Asset Management /
Full-time /
Hybrid
As part of the wider Octopus Energy group, Octopus Energy Renewables [OEGEN] sources, invests in and actively manages a range of utility scale renewable energy assets. We are looking to expand our team as we continue to scale our investments base of c£6bn.
Since entering the renewables market in 2010, we have grown to become a major investor in renewable power in Europe. We currently manage an increasingly global portfolio of renewable energy assets. The operational portfolio includes over 350 energy generating companies.
We are establishing ourselves within the offshore wind environment and have made several investments into the sector, including a share in Hornsea 1, one of the world’s largest operational offshore wind farms and Simply Blue Energy, a leading developer of floating offshore wind. Offshore wind is a key strategic growth area for OEGEN – we have huge ambitions for the sector and are raising dedicated capital for investment within the sector.
About the role
You will be a key member of the OEGEN wind team which is focused on investing in and managing wind projects and development platforms. The successful candidate will focus primarily on the Western Europe offshore wind market where OEGEN is currently focused but will be expected to cover new emerging markets (e.g., US, East Asia).
We are looking for a pro-active and self-starting senior team member who has a strong sense of ownership, and “can do” attitude, and who is able to work both individually and as part of a team, can mentor team members and can represent the team both externally on SPV boards and to senior internal stakeholders.
An ideal candidate will have a strong understanding of all key commercial and financial aspects of offshore wind farm management and have a proven track record in assessing and managing risks and compliance of offshore wind farm. You will be expected to lead on all commercial and financial aspects of the management of existing and future offshore wind investments, working closely with the Technical Director, Offshore Wind. You may also be asked to get involved in selected aspects of the due diligence of new offshore wind investment opportunities.
Outline of Responsibilities
- Performing director responsibilities for assigned investments, including compliance and performance monitoring, preparation and presentation of investor reporting, tracking material counterparties’ performance
- Manage and oversee financial and commercial performance across the offshore wind portfolio, ensuring delivery of accurate and reliable reporting from the various teams working across the portfolio
- Lead the commercial interface at external and internal board level
- Lead the interface between fund management and asset management teams across a variety of financial processes including asset valuations, fund reporting, budgeting and investment assumptions
- Driving the delivery of commercial strategy and contract management across the wind portfolio
- Take possession of issue resolution incl. commercial decision making and approvals from the relevant investment committee as appropriate
- Engage with investment teams on new deals to in the process preparing the asset management teams for asset on-boarding and, if required, to help assess commercial issues during diligence
- Review and critically analyse the management accounts of the project companies, reporting any issues to senior management and approving write offs as necessary.
Required Skills and Experience
- Prior experience is required, in an offshore wind focused role, preferably from an investor, developer or operator of offshore wind farms
- A strong commercial background, familiarity with wind financial modelling and perform project appraisal using several methodologies, including NPV, cost/benefit and IRR analysis
- Knowledge of the wind market, including experience of typical project contractual frameworks (including TSMAs, PPAs, BoP and OEM contracts) and relevant regulatory environments
- Exceptional organizational skills and be able to evidence managing complex workloads in a fast-paced environment
- Willingness to train and support others
- A strong understanding and ability to represent investors on offshore wind farms coupled with a “real-world” perspective of known issues in offshore wind.
- Strong commercial mindset, able to understand the commercial impact of issues on potential investments and the potential to own increasing degrees of decision making.
Why else you'll love it here
- Wondering what the salary for this role is? On a call with one of our recruiters, this is always something we cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit! We will also ask your current salary - we want to let you know this upfront so you're comfortable talking about it on a call with us.
- Octopus Energy is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about! We won best company to work for in 2022, our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadership
If this sounds like you then we'd love to hear from you.
Are you ready for a career with us? We want to ensure you have all the tools and environment you need to unleash your potential. Need any specific accommodations? Whether you require specific accommodations or have a unique preference, let us know, and we'll do what we can to customise your interview process for comfort and maximum magic!
Studies have shown that some groups of people, like women, are less likely to apply to a role unless they meet 100% of the job requirements. Whoever you are, if you like one of our jobs, we encourage you to apply as you might just be the candidate we hire. Across Octopus, we're looking for genuinely decent people who are honest and empathetic. Our people are our strongest asset and the unique skills and perspectives people bring to the team are the driving force of our success. As an equal opportunity employer, we do not discriminate on the basis of any protected attribute. Our commitment is to provide equal opportunities, an inclusive work environment, and fairness for everyone.
