Manager of Structured Finance

Repsol•Houston, TX

20h•Hybrid

About The Position

Repsol Renewables North America is seeking a Manager of Structured Finance to raise capital for utility-scale wind, solar, and energy storage projects and portfolios. The structured finance team originates, structures, negotiates, and executes third-party financings, including tax equity partnerships, tax credit transfers, construction and term debt, and preferred equity. With oversight from the Director of Structured Finance and the CFO, the Manager plays a significant role in each financing by building and owning transaction models, coordinating due diligence across internal functions and external advisors, and serving as a day-to-day contact for investors, lenders, and their counsel. The team secures competitive financing for projects in support of Repsol’s renewable power generation growth goals. The position is based in Downtown Houston and follows a hybrid schedule of three days in the office and two days from home. The role also mentors analysts and associates and supports financing administration after closing.

Requirements

Must be eligible to work for any U.S. employer without the need for sponsorship now or in the future.
At least 5 years of experience in project finance, structured finance, M&A, investment banking, or investment analysis.
Advanced financial modeling skills, including demonstrated experience building and reviewing complex project finance models.
Direct, hands-on experience executing debt financings and/or tax credit financings for U.S. power generation projects, with multiple transactions taken through financial close.
Working knowledge of key financing documents, including LLCAs, credit agreements, and tax credit purchase agreements, and of federal tax credit requirements affecting renewable energy financings.
Ability to independently lead workstreams and manage complex, multi-party transactions and due diligence processes, prioritize tasks, meet deadlines, and work effectively in a fast-paced environment.
Strong written and verbal communication skills, including the ability to work effectively with senior leadership, counterparties, business partners, and consultants; identify issues; and make clear recommendations to senior team members.
Strong interpersonal skills and ability to coordinate across functions in a team-based environment.
Advanced Excel and PowerPoint skills.
BA/BS degree required.

Nice To Haves

Experience in the U.S. renewable energy and/or power generation industry.
Finance, economics, or accounting focus for the BA/BS degree.
MBA, CFA, CPA, and/or equivalent certifications.

Responsibilities

Support origination and lead day-to-day structuring, negotiation, and execution of tax equity and tax credit transfer transactions, construction and term debt, back leverage, letter of credit facilities, and preferred equity transactions from term sheet through financial close and funding, with oversight from the Director and CFO.
Serve as a day-to-day point of contact for tax equity investors, tax credit buyers, lenders, and their counsel throughout transaction execution.
Negotiate term sheets and key commercial terms and support negotiation of transaction documents, including LLCAs, equity capital contribution agreements, credit agreements, tax credit purchase agreements, and ancillary documents.
Build, own, and maintain financial models for financing transactions and internal analysis; run sensitivities and scenario analyses, reconcile models with investor and lender models, and manage third-party model audits.
Evaluate structuring options and recommend financing alternatives based on cost of capital, risk allocation, and impact on project returns.
Prepare marketing materials, including teasers, CIMs, and lender and investor presentations, and support outreach to and selection of financing partners, including evaluation and comparison of term sheets.
Lead and coordinate due diligence across internal functions, ensuring timely and accurate responses to investors and lenders.
Manage external advisors, including financial advisors, legal counsel, independent engineers, and insurance, market, and appraisal consultants, against scope, budget, and schedule.
Manage project data rooms, diligence trackers, and closing and conditions-precedent checklists.
Support the investment approval process by providing financing and structuring guidance to M&A, tax, and accounting teams and preparing financing approval materials for internal governance, including Repsol corporate.
Develop and maintain relationships across internal functions to ensure consistent, accurate information is provided to lenders and investors.
Support post-closing administration, including funding conditions, investor and lender reporting, covenant compliance, and amendments, waivers, and consents, in coordination with asset management, accounting, and FP&A.
Review project agreements, including PPAs, EPC, interconnection, O&M, leases, and insurance, for bankability and compatibility with financing requirements; provide feedback to development and commercial teams early in the process.
Maintain relationships with financial institutions, including banks, tax equity investors, tax credit buyers, export credit agencies, institutional investors, private equity and infrastructure funds, IPPs, and utilities.
Monitor market terms, industry trends, competitor activities, federal tax credit rules, and emerging renewable energy financing structures to inform decisions and optimize financing strategies.
Mentor analysts and associates and review their work, including models, diligence deliverables, and presentations.