Power Trader

TerraForm Power•New York, NY

14d•$145,000 - $165,000•Onsite

About The Position

Reporting to the Director of Trading, this role will be responsible for managing and optimizing positions across TerraForm’s portfolio of wind, solar, and battery energy storage assets, with a primary focus on asset-backed trading in the PJM and ERCOT markets. The Power Trader will develop and execute trading and hedging strategies involving energy, transmission, capacity, and renewable energy credits (RECs) to maximize portfolio value while managing risk. This role will work closely with Asset Management, Operations, and Finance teams to support commercial decision-making and enhance the performance of TerraForm’s renewable energy portfolio. The ideal candidate brings direct experience in renewable asset optimization, wholesale power markets, and asset-backed trading, including day-ahead and real-time market participation, transmission hedging, and portfolio risk management within PJM and ERCOT.

Requirements

4-7 years of experience in power trading, with a strong focus on PJM and ERCOT.
Experience executing through exchanges and broker markets and managing counterparty relationships, including credit terms and collateral.
Understanding of REC registration and transfers in tracking systems.
Ability to leverage programming and data analysis for trading, forecasting, and portfolio optimization.
Decision-making in a dynamic, fast-paced team environment.
Strong attention to detail and ability to synthesize complex ideas.
Excellent written and oral communication skills.

Responsibilities

Develop and execute asset optimization strategies across TerraForm’s renewable generation, contracts, and transmission positions to enhance portfolio value within approved risk limits.
Execute day ahead and real time energy bids across ISOs, managing spot commodity exposures in response to forecast changes, outages, curtailments, and price volatility.
Schedule assets across ISOs and fulfillment market-based contractual obligations.
Participate in FTR/CRR/TCC trading strategies to manage congestion and basis risk.
Negotiate and execute energy and REC transactions through brokers, exchanges, structured auctions, and bilateral counterparties.
Monitor electricity markets to maintain a deep understanding of supply/demand dynamics, market behavior, and regulatory developments.
Lead the development and maintenance of energy market tools, including price/generation forecasting and product valuation models, and portfolio optimization frameworks.
Analyze trading and hedge performance, enhancing models based on backtesting and realized results.
Conduct commercial due diligence on proposed hedge structures and renewable energy projects.
Reconcile PnL across ISO settlements, trades, REC registries and offtake contracts, resolve discrepancies with settlements and finance teams.
Deliver insights to support desk decisions, coordinating with Asset Management on performance and asset value reporting.