Director of Business Development

About Us

East Point Energy develops, builds, owns, and operates grid scale energy storage projects. As an Equinor company and independent power producer, we are building a clean, resilient and affordable electric grid for the future.

East Point’s nimble team is comprised of hard-working, strategic problem solvers who are passionate about sustainability. We are technology and contractor agnostic, allowing us to find the best solution for each project. Success for East Point is measured by delivering affordable energy storage solutions that benefit the grid, communities, and our environment.

East Point is committed to cultivating and preserving a culture of inclusion and connectedness. We hire great people from a wide variety of backgrounds, not just because it’s the right thing to do, but because it makes our company stronger. Studies have shown that women and people of color are less likely to apply for a job unless they feel they are fully qualified in every way. We also know that sometimes the best candidates do not check every box. If you are interested in learning more, we would love to hear from you.

Title: Director of Business Development

The Director of Business Development will include leading three core functions: project M&A, revenue contracting, and economic analysis. This includes sourcing, evaluating, modeling, structuring, negotiating, and closing project acquisitions and project sales; originating, negotiating, and closing revenue contracts that align with East Point’s strategic growth plans, as well as analyzing project economics and financial modeling. Over time, this role may include the acquisition and sale of, as well as the originating of revenue contracts for additional renewable energy technologies. This role reports directly to the CFO and is both parts an individual contributor and manager of process and personnel.

Roles & Responsibilities:

M&A related responsibilities: (note that some responsibilities overlap)

- Contribute to company project M&A strategy

- Originate and lead project M&A transactions that align with the company’s strategic plan from opportunity identification through selection, negotiation, due diligence, valuation, contract award, implementation, ongoing service, and administration

- Strategic and quantitative analysis, tracking market M&A activity, managing business and financial due diligence, risk identification, analysis and mitigation, defining the deal structure, negotiating deal terms, and overseeing integration activities

- Support the Executive team to develop acquisition and contract award value proposition materials and lead presentations to the Board of Directors

- Lead the development, preparation, and review of financial models and forecasts to support and provide advice on project investments and project sales, which will underpin decision making and anchor valuations

- Develop relationships with broad market participants including project developers, investment banks, law firms, and renewable energy investors to build a pipeline of opportunities, keep investor relationships warm for project sales and learn about new markets ahead of our competitors

- Generate actionable insights on project M&A trends including valuation drivers for energy investors

- Support project M&A process development and improvements, including the use of project management software to manage project acquisition opportunities and project sale processes

- Manage quarterly budget reporting requirements for project M&A

Origination related responsibilities:

- Lead project origination and contract negotiation of revenue contracts (e.g. tolling agreements, hedges, shared savings agreements, etc.) supported cross departmentally (developers, legal counsel, finance, etc.)

- Create, develop, and manage merchant and contracted revenue strategies for relevant power markets utilizing 3rd party and internally generated forward pricing curves

- Create, develop, and manage relationships with origination and off-take parties (utilities, IPP’s, trading desks, etc.)

- Manage or lead Request for Proposals (RFPs) for revenue contracts

- Create and develop a disciplined program to meet/achieve performance targets

- Stay current on all market rules across regulated and deregulated power markets

- Represent the company’s capabilities and image including participation in conferences, trade shows, and other business development opportunities

Economic Analysis related responsibilities:

- Oversee the development and management of financial models and associated inputs for organic and inorganic projects using various financing structures, including understanding project value and cash flows

- Support the executive team with financial analysis of organic and inorganic projects

Skills:

- Business development and sales experience in the energy sector

- Experience and understanding of battery storage revenue contracts (e.g. tolling agreements, hedges, shared savings agreements, etc.)

- Understanding of power markets and power trading; how applicable revenue streams function across RTO/ISO markets (preference for PJM, NYISO, ISO-NE, ERCOT, and MISO)

- Ability to analyze and synthesize information accurately and effectively, multi-task, and dynamically decide key priorities

- Effective communicator of complex information

- Understanding of and proficiency running financial models in Excel

- Developing and maintaining reporting functionality related to the Project M&A, origination, and business development processes

- Proficiency with Microsoft products (Word, Excel, PowerPoint, Teams, Outlook, etc.)

Characteristics of an Ideal Candidate:

- Leadership and management

- Passion for energy development and the environment

- Creative problem-solving ability and solutions-oriented mindset

- Self-starter with a desire to succeed and a focus on creating value

- Team player and leader, proactive attitude

- Organized, attention to detail

- Comfortable with a fast-paced, rapidly changing environment

- Ability to make informed decisions quickly and a bias for action

- Integrity and accountability

Education & Experience:

- 4-year university degree, BS or BA; MBA preferred

- 5+ years of energy industry experience in revenue origination, business development, project development, finance, and/or energy transactions

- Experience leading commercial negotiations for M&A or renewable energy revenue origination transactions, with several years of deal execution across power purchase agreements (PPAs), purchase and sale agreements, or strategic partnerships

- Experience with Utility-Scale renewable energy and transmission preferred

- Experience leading business development or project development teams

- Strong analytic, financial analysis, and Excel modeling experience

- Strong understanding of accounting and project finance

- Strong power trading experience

Travel & Time Commitment:

- Travel will vary, expect approximately 30% of the time

- This is a full-time, exempt salaried position. Standard office hours are from 8:30 AM – 5:30 PM EST. The demands of projects may require work outside of these times.

Benefits:

- Health, Dental, & Vision Insurance

- Short-Term & Long-Term Disability Coverage

- Life Insurance

- 401(k) & Employer Match

- Parental Leave

- Paid Time Off, Sick Leave, Holidays

- Education, Parking, and Gym Membership Stipends

Location:

East Point Energy office in Charlottesville, VA

This job description is not inclusive of all requirements of the position. Employees will perform any other duties as may be required by their manager.

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