Director, M&A and Financing North America H/F
CVE North America was founded in 2016 and has experienced a rapid growth since, with 36 MW of projects under construction in Massachusetts and an additional portfolio representing 100MW of secured sites. The team of CVE North America is planned to double in the next three years and has raised tax equity and long term debt for its assets.
CVE North America is a wholly owned subsidiary of CVE Group, a multi-energy Independent Power Producer (IPP), established in various countries (France, Chile, South Africa and Senegal…).
Today, with more than $550m invested in our assets, with an installed or under construction capacity of 300 MW and with an electric turnover above $60m, CVE Group has experienced rapid growth, anchored around its four main values: placing human first, commitment, quality (CVE Group is ISO 9001 and ISO 14001 certified) and transparency. The team comprises 180 staff members.
CVE Group’s ambition is to build, within five years, a park of renewable, complementary, clean and sustainable assets of a capacity of 2.3 GW, a quarter of which will be in the USA.
In this highly “transactional” role, you will be in charge of originating, structuring and executing (i) the acquisition (or divestment) and (ii) the financing of CVE’s renewables projects located in North America.
You will report directly to the VP North America under the supervision of the Group M&A Director for all M&A related aspects, and the Group Investment Director for the financing matters.
You will be involved across the entire life cycle of the transaction as set forth:
- Market analysis: understand the dynamics, specificities, constraint of each markets
- Acquisition opportunities:
i. Build and maintain a network with industry professionals
ii. Assess the pros and cons of the various opportunities and solutions offered through in-depth analysis of their business models and impact on CVE’s financials.
- Market Liquidity:
i. Identify, explore and select partners that can provide financing solutions to CVE’s small to medium size projects;
ii. Develop relationships with new and existing financial partner
- Represent CVE to promote its projects, strategy, vision and values.
2. EARLY STAGE PREPARATION AND OPPORTUNITY REVIEW
- Draft and / or analyze financial teasers and info memos
- Be CVE’s key contact point to discuss the financing or projects acquisition opportunities with Banks, the Sellers (Buyers) and its lawyers;
- Analyze the profitability of the target companies or projects to acquire or finance: financial modeling, risk assessment, cash in and outflows, sizing of the financing needs.
- Prepare the internal investment memo to Executive Committee’s review and approval;
- Manage the due diligence process, set up the data-rooms and collaborate with the various internal teams (M&A, finance, legal, development, operations…);
- Ensure the availability of funds in line with CVE’s commitments (project construction schedule, acquisition payment);
- Participate in the legal structuring of the transactions (SPEs, Holdings, Partnerships…) to facilitate the implementation of CVE’s multiple tranche financing strategy (construction, senior, TEP, mezzanine….).
3. NEGOTIATION AND EXECUTION
- Negotiate the Financial Term Sheets (pricing, leverage covenants, , ...) and manage Loan Documentation activities;
- Spearhead the multilateral negotiations on all the various aspects of the transaction (commercial, legal, technical..) as well as throughout the acquisition process (LOI, Non Binding Offer, Binding Offer, MIPA….) in collaboration with the Group M&A and Financial Teams.
- Ensure that the transactions comply with CVE Group quality and business processes.
4. PORTFOLIO MONITORING
- Ensure the correct integration of the recently acquired assets in the Group portfolio;
- Ensure that the CVE North America complies with its obligations under the various Loan Agreements.
You will have a strategic input in the definition of the Regional’s growth objectives, and you will ensure that the Group quality and business processes are abided by.
You have between 5 to 8 years of experience in Corporate Finance ideally dealing with both financings and sale or acquisition transactions of energy / renewables projects acquired in a bank, an investment / private equity fund, one of the Big 4 advisory teams or in a Corporate Finance Department of renewables player. You have closed Tax equity transactions.
Thanks to your well-honed skills in Corporate Finance, you are able to manage the highly sophisticated Corporate Finance transactions. You have developed shrewd negotiation skills, grounded in your excellent analytical capacity, your team spirit and your solid sense of responsibilities.
The Ideal candidate would have:
1. Outstanding interpersonal skills to deal with internal and external parties;
2. An established identification of the players in the market and a perfect understanding of the various mechanisms prevailing in the financing of renewable energy projects in the US: Tax equity partner, Sale and Lease back, non-recourse debt…
3. Robust financial modelling skills and a proven track record in managing project finance / acquisition transactions in the power / renewable industry.
4. A familiarity with both the US and European business environment.
You are convinced that renewable energies will play a major role in the future and you are an advocate of the transition to clean energy. You are willing to join a company with a strong start-up culture, experiencing very high growth and which sets for itself ambitious and captivating goals.