Senior PPA and Power Portfolio Manager
Energi- og vannforsyning
What we do:
Statkraft is the largest generator of renewable energy in Europe and an established participant within the various US environmental commodities markets. As part of the Trading and Origination department, the Origination team sources and manages a long-term portfolio of third-party renewable energy contracts. This portfolio usually consists of Power Purchase Agreements (PPAs) and long-term sales contracts with a variety of large customers and trading partners. Currently, the team is expanding its activities to the US power and renewables markets, specifically PJM & ERCOT. The team is responsible for the origination, pricing, structuring, and portfolio management of all bilateral power and Renewable Energy Credits (REC) deals.
As Senior Portfolio Manager within the Origination team, you and your fellow team will be responsible for developing Statkraft into a leading market integrator in the PPA market, matching the needs of renewable generators to electricity buyers (with or without an RPS or voluntary obligation). You will be responsible for building out a comprehensive portfolio management strategy, specific to the PPA businesses. You will direct, oversee, and execute on: pricing, hedging, and managing risk associated with being long power (akin to the commodity exposure of owning a renewable asset). You will work closely with originators to structure innovative PPA purchase and sales products, as you look to manage merchant power (and REC) risks through transactions on the exchanges and bilaterally with other counterparties, such as financial entities, utilities, C&I customers, and other proprietary traders. You will lead through your expertise and commitment to collaboration.
- Along with the team, build and maintain Statkraft’s power market portfolio derived from the PPA business (PJM-focus initially)
- Work closely with originators for new deal origination, structuring and pricing
- Develop both quantitative and fundamental view of relevant power markets (including risks related to managing an intermittent renewable portfolio) along the entire curve, liaising closely with team members and analysis functions to share know-how and market views
- Optimize the value of the US portfolio in the long-/mid- and short-term markets via OTC and screen trading, develop trade recommendations that enhance portfolio returns within the limits of the mandate
- Work closely with existing US environmental products portfolio manager to identify all cross-commodity opportunities and risks, while being able to report and comprehensive view of the US portfolio
- Constantly improve modelling tools and optimization approach, actively shape the set-up of state-of-the art portfolio management infrastructure and procedures
- Interact with credit, operations, and trading teams as necessary to advance transactions
- Develop and maintain strong relationships with proprietary trading team, creating an atmosphere of collaboration and information sharing
- Assess and translate competition, industry trends, emerging customer challenges, and changes in the marketplace into market strategies and product offerings
- Take care of day-to-day administrative issues related to the portfolio
- Create systems and tools to help business scale
- 10+ years of experience as a portfolio manager (or excelling in key aspect of such a position), primarily within the PJM market
- Strong fundamental analysis, risk management, and market pricing experience
- Excellent quantitative and analytical skills; experience pricing structured, non-standard contracts in power markets.
- Proficiency with IT tools, in particular Excel (and VBA). Experience in Python or any other programming language a plus.
- Working knowledge of the structure and policy of the PJM power market (and underlying states)
- Experience and familiarity with standard and non-standard power contract terms as well as master trade agreements, such as ISDA and EEI
- Combination of entrepreneurial spirit, quantitative skills, attention to detail, personal integrity, and communication skills to drive growth and revenue
- Team player, leader, and listener with ability to operate in a start-up like group, with varying tasks dependent on business need
- Given the small team size, it is expected that the Senior PPA and Power Portfolio Manager will be a regular presence in the San Francisco office (or possibly Stamford, CT office)
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