Director Project Finance
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We're 20,000 colleagues in more than 30 countries delivering oil, gas, wind and solar power to 170 million people worldwide. Taking on tough energy challenges is our job. Right now, we're facing an enormous task: supplying the world with the energy it needs, while lowering emissions.
We're up for the challenge. Are you?
By joining our team in CFO you will have the opportunity to:
Equinor is taking an industry-leading approach to dealing with today’s challenging and changing energy sector. As the world’s population grows and becomes more prosperous, there is greater demand for energy to heat and light homes, fuel transport and power the economy while reducing emissions of greenhouse gases.
For Equinor, the future of energy will be low carbon and therefore its ambition is to be a leading company in carbon-efficient oil and gas production. Further, demand for renewable energy will grow, offering new business opportunities. Building a new energy business will support Equinor’s long-term future as a leading global energy provider.
Equinor is actively seizing these opportunities by building on decades of experience in oil and gas and is working to develop reliable new energy solutions that are both green and cost-efficient.
Today, Equinor is already an innovator in offshore wind and a world leader in carbon capture and storage, with a business of scale in the wider North Sea. In the U.S., Equinor recently acquired a 128,000-acre lease area in federal waters off Massachusetts and has commenced development of the Empire and Beacon offshore wind assets. In July 2019, New York State announced Equinor’s Empire 1 Wind (816 MW) as the winner in the State’s first large-scale competitive offshore wind solicitation. In September 2020, Equinor announced that it has entered into an agreement with BP to sell 50% of non-operated interests in the Empire and Beacon wind assets in the US East coast and entered into a strategic partnership for further growth in offshore wind in the US. In January 2021, New York State announced Equinor and BPs Empire Wind 2 (1260MW) and Beacon 1 (1230MW) as the winner of the subsequent offshore wind solicitation. This represents an important milestone for Equinor’s ambition of building an offshore wind core area on the U.S. East Coast.
PURPOSE AND KEY RESPONSIBILITIES OF THE ROLE
To deliver and maximize the value of these investments in the US, Equinor is looking to recruit an experienced professional who can lead the execution of project financings of our current and future US assets.
The location for the role will be US based, Stamford, Connecticut.
- Leading in the origination and execution of suitable non-recourse financing, tax equity and equity transactions, designing of the appropriate development capital allocation by project or portfolio to support the Company’s US renewable energy business activities and to meet growth needs.
- Maintain cooperative relationship with international and local banks, including multilateral financial institutions, export credit agencies, institutional investors, private equity/infrastructure funds, IPP and utilities.
- Coordinate opportunity presentations and financial models for each project/portfolio, including tax implications by country/project, sensitivity analysis, maximizing the interests of the Company.
- Lead on the structuring and execution of the debt, tax equity and equity financing transactions in order to achieve a successful financial close.
- Lead on the preparation, review and negotiation of the debt and equity financing economics, term sheets and documents.
- Designing fit for purpose solutions on a bespoke basis at individual assets. This might include leading on PPA negotiation (internally or externally) and ensuring the most bankable solution for the current market opportunities.
- Work together with internal counterparts in region and internationally both within Treasury and Tax and internal asset owners and commercial teams.
- Liaise with external lawyers, tax consultants, auditors, credit rating agencies, financial advisors, market advisors, technical consultants etc.
- Liaise with and help manage BP and future partner relationships, lead joint partner finance work streams and manage partner decision making forums related to financing.
Some qualities are essential for Equinor. You identify with our values, open, collaborative, courageous and caring, which guide our decisions and help us succeed and grow. You make safety your priority and contribute to our zero-harm culture. For this position, we are also looking for:
- 5-10 years of relevant professional experience in the financing of energy/infrastructure-related projects (ideally including renewable energy)
- A Bachelor's degree or above in business administration or economics, finance, law, engineer.
In terms of the performance and personal competencies required for the position, we would highlight the following:
Application of Technical Knowledge and Skills
- Uses experience of executing previous project finance transactions to develop best financing structures and processes to optimise outcome for Equinor.
- Keeps abreast of and shares knowledge on new US and international trends in comparator situations.
- Proactively applies relevant US and international best practices to own work.
- Convinces others to adopt US and international best practice by explaining the situational relevance and benefits.
Achieving Results and Problem Solving
- A good commercial aptitude and a value driven mindset.
- Is energetic and strongly driven.
- Possesses excellent project management and organisation skills in order to work and lead several initiatives simultaneously.
- Makes timely decisions when a quick response is required.
- Overcomes unexpected difficulties and challenges to produce desired outcomes.
- Strong interpersonal skills, co-operative and team-work orientated.
- Maintains collaborative relationships within the Finance Team.
- Flexibly alters positions and adjusts previously stated points of view to support the group consensus.
- You are flexible to travel to other US location.
Relationships and Influence
- Naturally connects and builds strong relationships with others, at multiple levels in the organization.
- Understands the importance of and demonstrates in practice excellent stakeholder management including management of core external stakeholders and partners.
- Balances collaborative style with sense of urgency.
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