Manager/Director of Markets Analysis and Origination – US
Matrix Renewables is a renewable energy platform that was founded by global alternative asset manager TPG through its impact investing platform, TPG Rise, in 2020. Matrix Renewables focuses on developing, constructing and being long-term owners of renewable energy assets.
Matrix Renewables’ current portfolio is comprised of 12.2 GW (operational, under construction, ready to build, under development) of renewable energy projects and storage across North America, Europe and Latin America.
TPG Rise is a $17 billion impact investing platform focused on investing in and supporting the growth of world-class businesses that deliver positive and measurable social and environmental impact globally.
TPG is a leading global alternative asset investment firm with offices in Austin, Beijing, Boston, Dallas, Fort Worth, Hong Kong, Houston, London, Luxembourg, Melbourne, Moscow, Mumbai, New York, San Francisco, Seoul, Singapore, and Washington D.C. TPG’s investment platforms span a wide range of asset classes, including private equity, growth equity, impact investing, infrastructure, growth venture, real estate, secondaries, and public equity.
At Matrix Renewables we are looking for a highly motivated individual to play a key role leading our market analysis and origination activities in the U.S. The Candidate will be responsible for managing all aspects of market analysis, including interfacing with and analyzing forward curve assessments provided by third parties in different U.S. markets, assessing PPA risk and analysis, including reading existing PPAs and able to assess and articulate key provisions, as well as potential offtake customer identification and outreach, reporting to the VP of US Development.
The Candidate will also be responsible for assisting the VP of US Development in negotiation and securing offtake for US renewable energy projects. The Candidate should use their experience and intelligence to identify offtake and market-related opportunities and risks for our projects.
The Candidate should be mature and professional because the person will be engaged with our customers. The Candidate should have a growing network of procurement related connections at corporate, industrial, utilities, municipalities and cooperatives customers, advisers and other US market participants.
The candidate must be able to analyze various U.S. electricity markets. The candidate will collaborate with in-house Matrix and external teams to ensure that risks and opportunities relating to project revenue, contracted and uncontracted, are well understood by Matrix and integrated into decision making.
Key activities and responsibilities:
• Develop and maintain origination prospects and opportunities
• Develop and maintain relationships with existing and prospective customers and market participants
• Originate, submit proposals for, and assist in negotiating and closing contracted revenue opportunities working collaboratively with internal and external stakeholders
• Develop internal analytics and market intelligence, including aggregation of data from multiple sources (e.g., ISO/RTO market data and forward curve providers)
• Develop internal understanding of the full revenue stack of a project within a specific market, including PPA prices, capacity payments and REC values, for both base case assumptions and sensitivities, to be used in financial modelling and internal decision making
• Develop critical analyses and tools for improving offtake strategies and pricing outcomes, including Buyer shadow models
• Managing revenue contracts through development up to NTP and as well as in connection with debt / tax equity financing
• Coordinate with relevant third-party advisers and consultants for forward curve, basis and curtailment analyses
• Read and understand PPAs assessing key provisions, risks and responsibilities
• Maintain internal databases with latest status on origination outreach efforts
• Assist other team members in Development, Investments and Finance with requests related to the revenue stack of a project and associated markets through the project life cycle.
• Ensure the smooth handover of offtake activities to Matrix operations department
• Help to implement ESG Company policy at local level in compliance with modern standards, regulations, and best industry practice.
• Ensure the highest compliance with anticorruption practices in dealing with all the stakeholders
• Perform other job-related responsibilities as assigned
General Skills / Attributes:
• BA or BS in a relevant field; MBA or master’s degree in a relevant field a plus
• 5+ years of origination, trading, power marketing, power procurement, pricing analysis, financial modeling and other commercial roles
• Personable and professional, confident in the role of representing Matrix with customers
• Strong decision-making skills in light of uncertainty
• Strong networking and time management skills
• Strong entrepreneurial, organizational, analytical and people skills
• Strong communication skills
• An ability to independently obtain, assess and use market data resources to form well-reasoned market views on a project’s revenue stack and assess the associated markets, e.g., energy, REC and capacity
• Good understanding of US electricity markets, including participants, design, contract structures and settlements
• Growing network of procurement related connections at corporate, industrial, retail electric providers, power marketers, utilities, municipalities and cooperatives customers, advisers and other US market participants
• An ability to perform at a high level in a matrixed organization, working in interdepartmental teams to achieve objectives and manage multiple projects and relationships simultaneously with minimal supervision
• Highly experienced in the use of Microsoft software, e.g., Excel, Word and PowerPoint, and other tools customary for the position
• High attention to detail and curiosity
• Comfortable attending industry conferences and events both at the national and local level
• Native English
• Ability to travel to our Miami office and throughout the U.S. to meet stakeholders around Matrix projects