Manager of Structured Finance

Repsol•Houston, TX

2d•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, back leverage, letters of credit, and preferred equity. With oversight from the Director of Structured Finance and the CFO, the Manager plays a significant role in transactions 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’s work secures competitive financing for projects and supports Repsol’s renewable power generation capacity 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 Manager also supports post-closing administration and internal investment approvals, maintains relationships with financing institutions and internal teams, monitors renewable energy financing markets and federal tax credit rules, and mentors analysts and associates.

Requirements

Must be eligible to work for any U.S. employer without 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, with 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 federal tax credit requirements affecting renewable energy financings.
Ability to independently lead workstreams and manage complex, multi-party transactions and diligence processes, prioritize tasks, meet deadlines, and work effectively in a fast-paced environment.
Strong written and verbal communication skills, including 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, letters of credit, and preferred equity transactions through financial close and funding, under the oversight of the Director and CFO.
Serve as a day-to-day point of contact for tax equity investors, tax credit buyers, lenders, and their counsel during 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 investors and lenders, and manage third-party model audits.
Evaluate structuring options and recommend financing alternatives based on cost of capital, risk allocation, and effects on project returns.
Prepare teasers, CIMs, lender and investor presentations, and other marketing materials; support outreach to and selection of financing partners, including evaluating and comparing term sheets.
Lead and coordinate due diligence across internal functions, ensuring timely and accurate responses to investors and lenders.
Manage external advisors against scope, budget, and schedule; manage project data rooms, diligence trackers, and closing and conditions-precedent checklists.
Support investment approval processes by advising M&A, tax, and accounting teams on financing and structuring, 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, 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 agreements, for bankability and compatibility with financing requirements; provide feedback to development and commercial teams early in the process.
Maintain relationships with 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 models, diligence deliverables, and presentations.