Job Title:
Vice President of Mergers & Acquisitions
Reporting To:
Chief Executive Officer
Position Type:
Full Time
Location:
Remote
Company Overview
Elevate is a national renewable energy development company focused on the strategic deployment of battery energy storage resources co-located at existing large generation facilities owned by private equity funds managed by ArcLight Capital Partners. Elevate is developing co-located battery storage projects at ArcLight’s existing 25,000 MW power infrastructure portfolio and currently has a brownfield development pipeline of approximately 5 GW at over 20 project locations. Elevate is also active in energy markets throughout the US from California to Connecticut where the rapid growth of intermittent renewable energy has created a need for flexible, dispatchable renewable energy which can uniquely be met by utility-scale battery storage.
Elevate is focused on the safe, reliable, environmentally conscious energy transition in a way that benefits all stakeholders together with the broader communities, specifically including environmental justice and other disadvantaged communities, in which we operate.
We are headquartered in Boston, MA, with employees in multiple regions across the U.S. Our diverse management team has many decades of experience in the renewable energy, utility, and independent power sectors.
Culture
Founded in 2022, Elevate has been growing rapidly and is looking for the right candidates to join our small, experienced team. We offer the ability to work in a fast-paced, high-performance and team-oriented culture, with competitive compensation and an achievement-oriented team. Apply with resume, cover letter and deal sheet.
Apply Today to Start an Extraordinary Career
Job Description
The VP of M&A will play in integral role in Elevates platform and growth aspirations by leading the identification and acquisition of new projects to expand the existing project portfolio. We are expecting this candidate to come in with a rolodex of industry contacts and ability to form a strategy to target new acquisition opportunities and build longer term joint development partnerships. A successful candidate will have significant prior experience in the full suite of launching and running a buyside renewable energy transaction, ideally within the energy storage industry. This candidate should also ideally have interest and experience in setting up a new function and growing a team to support this critical priority for our business.
The position reports to the Chief Executive Officer.
Key Responsibilities
- Deal Sourcing: Develop sourcing strategies for opportunities, leveraging existing contacts and expanding business network of developers, banks, etc.
- Opportunity Identification: Lead the search for standalone battery energy storage projects for acquisition. With a focus on mid-stage, late-stage, and operating projects.
- Opportunity Management: Monitor and update the opportunity pipeline and required actions. Recommend and prioritize leads.
- Financial Modelling: Supervise, review, and prepare, when necessary, financial models and financial valuation of opportunities using different methods (DCF, multiples, etc.)
- Due Diligence: Manage the complete due diligence process for opportunities, including selection, negotiation of proposals, and coordination of internal and external advisors (financial, legal, tax, commercial, etc.)
- Investment Pitching: Manage the investment recommendation presentations (investment memorandums) for internal investment committees and for investor fund investment committees. Lead and advocate for the investment thesis before management, including with the BOD.
- Offer Negotiation: Prepare and negotiate non-binding and binding offers for the purchase of opportunities.
- Document Drafting: Lead and manage the negotiation of transaction documentation (SPAs, Development Services Agreements, etc.) in coordination with internal and external legal team.
Qualifications and Experience
- Requires a Bachelor degree or equivalent combination of education and experience.
- Minimum 10 years of experience in the energy industry; preferably in gas or renewable energy with a minimum of 5 years of experience in corporate development, corporate finance, investment banking, Private Equity, or infrastructure funds in the energy sector.
- Extensive knowledge and understanding of the electric utility industry and energy markets. (market dynamics, regulation, development process, PPA schemes, off-taker universe, etc.)
- Extensive knowledge of tax equity financing and project finance.
- A solid track record of success in leading and closing prior M&A transactions. Full expertise in the process of running buyside renewables transactions (potential target universe, active banks/brokers, advisor universe, comparable transactions, acquisition finance, valuation, accounting, DD, SPA negotiation, etc.)
Competencies & Skillset
- Problem-Solving: Adaptable and flexible. Able to operate in a fast-paced, small team environment, and can approach challenges with a creative, proactive mindset.
- Communication Skills: Strong oral and written communication skills, including presentation abilities, and good interpersonal skills with the ability to building relationships with internal and external stakeholders.
- Organizational Skill: Exceptional organizational abilities with keen attention to detail. Capable of managing multiple tasks simultaneously and seeing delegated projects through to completion.
- Integrity & Judgment: Strong track record of excellent judgment and integrity in previous roles.
- Growth Mindset: Desire to grow professionally in an industry with significant potential and within a company with a high level of sophistication and ambitious growth plans, owned by a top-notch private equity investor.
- Travel Requirement: Remote position with an expectation and willingness to travel up to 25% of time to visit project sites, meet with the team, customers, or vendors, and otherwise as necessary.
Elevate Renewables is an Equal Employment Opportunity. All qualified applicants will receive consideration for employment without regard to actual or perceived race, color, creed, religion, national origin, ancestry, citizenship status, age, sex or gender (including pregnancy, childbirth, related medical conditions and lactation), gender identity or gender expression (including transgender status), sexual orientation, marital status, military service and veteran status, disability, protected medical condition as defined by applicable state or local law, genetic information, or any other characteristic protected by applicable federal, state, or local laws.
