Director Project Financing

HAGER Executive Consulting GmbH; Düsseldorf; Presencial; EUR 120.000 - 180.000; Jornada completa

Descripción de la vacante

Zelestra is seeking a Director Project Financing (m/w/d) to lead structuring, execution and management of debt financing for its German renewable energy portfolio. You will build strong lender relationships and negotiate non-recourse and limited-recourse facilities for solar, wind, BESS and hybrid projects.

Based in Germany, you will work with Development, Commercial, M&A, Legal, Construction and Asset Management teams to deliver financing solutions that align with investment criteria and risk

Formación

• Substantial experience in project finance or infrastructure finance.
• Proven track record closing renewables financing in Germany.
• Expertise in non-recourse project financing and lender requirements.
• Knowledge of renewable revenue models (PPAs, merchant exposure, storage).
• Experience with cross-functional multinational teams is a plus.

Responsabilidades

• Lead the full project financing process for solar, wind, BESS and hybrids in Germany.
• Structure and negotiate non-recourse and limited-recourse facilities, refinancing, and facilities.
• Develop financing strategies reflecting project risk and revenue profiles.
• Manage lender processes, due diligence, term-sheets and documentation.
• Collaborate with Development, Commercial, M&A, Legal, Construction, Asset Management and senior leadership.
• Represent Zelestra in negotiations with lenders and external advisers.

Conocimientos

Project finance

Non-recourse debt

Financial modelling

Negotiation

Lender relations

Portfolio financing

Educación

University degree in finance

Descripción del empleo

Zelestra is a global renewable energy company focusing on the development, construction, commercialization and operation of large-scale renewable energy projects. The company provides integrated solutions across utility-scale solar PV, onshore wind, battery energy storage systems and hybrid assets supporting corporate and utility customers in their transition to a competitive, reliable and decarbonized power supply.

Headquartered in Madrid, Spain, Zelestra operates internationally across EMEA, Americas and APAC with over 1,000 employees and a multi-gigawatt power portfolio. Its business model combines project development, energy contracting, engineering and construction, financing, asset-based operations, and long-term energy solutions for utilities and corporate customers.

Within an increasingly dynamic market environment, Zelestra has an attractive competitive edge with its integrated approach at the intersection of renewable energy generation, storage, corporate power purchase agreements and energy-market optimization.

In 2021, the predecessor company Solarpack was acquired and rebranded into Zelestra by the global Private Equity Funds EQT. The new shareholder drives an ambitious value creation plan developing the power pipeline, further building-out the integrated solutions offering and accelerating top and bottom-line growth by international market expansion. EQT combines entrepreneurial growth ambitions with the financial strength, governance and long-term infrastructure perspective of a leading international investor.

Germany has been defined as a core market for the growth strategy of Zelestra and value creation plan of EQT. The plan is to significantly build-out the existing German platform with its 70 employees at offices in Düsseldorf, Hamburg and Berlin. There are four projects under development and two additional ones in the pipeline. Zelestra Germany has grown exponentially in Germany, both leveraging its greenfield pipeline as well as through M&A opportunities. Zelestra Germany has recently signed one large Battery Energy storage system (BESS) 99 MW x 3hs tolling agreement with Centrica, and two large Hybrid (Solar + BESS) contracts with Salzgitter (201 MW Solar + 104 MW x 3hs BESS). Supported by EQT, our business plan entails developing, building and operating an expected 3 GW of new projects in the next 5 years. All these projects are financed through Project Finance, therefore this role is critical for the success of Zelestra in Germany.

Position

Following the continuing efforts to grow its German business, Zelestra seeks to recruit for an experienced and commercially minded Director Project Financing (m/w/d). This is a high-impact management role for an individual who can structure, negotiate and execute sophisticated financing solutions for renewable energy and storage projects, while building strong relationships with lenders, investors, advisors and internal stakeholders. This role offers the opportunity to shape the financing strategy of a growing renewable energy platform in one of Europe’s most important energy transition markets.

The Director Project Financing will lead the structuring, execution and management of debt financing processes for Zelestra’s German renewable energy portfolio. The position will play a pivotal role in enabling the delivery of solar, wind, battery storage and hybrid projects through efficient and scalable financing structures. The role will work closely with Development, Commercial, M&A, Legal, Construction, Asset Management and senior management teams.

Main Tasks and Responsibilities

• Project Financing and Transaction Execution
• Lead the full project financing process for renewable energy, battery storage and hybrid projects in Germany, from early bankability assessment through financial closing and post-closing execution.
• Structure and negotiate non-recourse and limited-recourse project financing, refinancing transactions, construction facilities, term loans, and working-capital facilities
• Develop financing strategies that reflect the specific risk and revenue profile of solar, Wind, BESS and co-located projects.
• Manage lender processes, including preparation of financing materials, lender presentations, term-sheet negotiations, due diligence coordination, credit committee processes and financing documentation.
• Ensure transactions are delivered on time, within agreed parameters and in line with internal investment and risk requirements.
• Support the financing of portfolios as well as individual projects, including potential platform and portfolio-financing structures.

Commercial Structuring and Bankability

• Assess the financeability of project revenue models, including merchant exposure, corporate PPAs, utility PPAs, feed-in regimes, day ahead swaps, flexibility revenues, ancillary services and storage optimization arrangements.
• Work with internal commercial teams to identify and mitigate key bankability issues.
• Analyze and challenge financial models, project assumptions, sensitivities, debt sizing, covenant packages and downside-case scenarios.
• Support the commercial structuring of contracts that are relevant for financing, including EPC, O&M, grid connection, land, insurance, PPA, route-to-market and optimization agreements.
• Contribute to the development of standardized financing principles, documentation approaches and risk-allocation frameworks for the German business.
• Stakeholder Management
• Build and maintain senior relationships with commercial banks, debt funds, infrastructure lenders, insurance providers, financial advisers and other capital providers.
• Act as a credible senior representative of Zelestra in external financing discussions and negotiations.
• Coordinate external advisers, including financial, legal, technical, insurance, tax and model-audit advisers.
• Work closely with internal investment committees and senior leadership to prepare financing recommendations, transaction updates and decision papers.
• Collaborate with international project-finance colleagues to share best practice and leverage relationships across markets.

Professional Experience and Technical Expertise

• Substantial professional experience in project finance, structured finance, infrastructure finance or related areas
• Proven track record of leading and closing renewable energy financing transactions in Germany, ideally with experience in all three major technologies: solar PV, wind, BESS and hybrid projects.
• Profound expertise in non-recourse project finance and the financing requirements of lenders, investors and credit committees.
• Intimate knowledge of renewable energy revenue models, including PPAs, merchant exposure, route-to-market structures and, ideally, battery storage revenue streams.
• Experience in evaluating and negotiating key project documentation from a lender and sponsor perspective.
• Thorough understanding of German renewable energy regulation, grid connection dynamics and local market practice.
• Excellent financial modelling skills and the ability to critically assess complex financial models, assumptions and sensitivities.
• Experience of working in cross-functional multinational teams, preferably within fast-paced and upscaling PE/VC-backed businesses.
• University degree in finance, economics, business administration or comparable discipline.

Personal Profile

• Commercially astute, analytically rigorous and comfortable making decisions in complex transaction environments.
• Strong negotiation skills and the confidence to engage with senior lenders, advisers, investors and senior executives.
• Entrepreneurial mindset with the ability to operate effectively in a growth-oriented and fast-paced ecosystem.
• Highly structured, pragmatic and execution oriented.
• Ability to balance attention to detail with a clear understanding of strategic priorities.
• Strong ownership mentality and resilience under time pressure.
• Collaborative yet assertive management style kills with the ability to align multiple internal and external stakeholders.
• High level of integrity, judgement and professional credibility combined with a hands-on working approach. Getting things with fast-paced, and excellent results.

Contact

Interested? In that case, please contact Ms Jessica Recknagel at [e-mail]