Associate, M&A

onwardenergy; Denver (CO); On-site; USD 100,000 - 140,000; Full time

Job summary

Onward Energy seeks an Associate, M&A to support growth through acquisitions, financings, and development of utility-scale renewables, gas, and storage projects. You will build and maintain Excel-based financial models, prepare investment memos, and coordinate due diligence across a cross-functional team.

The role involves presenting recommendations to senior management, assisting with debt and tax equity financing, and contributing to the investment decision process within a high-performance

Qualifications

• Bachelor’s degree in Finance, Business Economics, or quantitative discipline (experience may substitute).
• 2+ years in investment banking, project finance, development, or asset management in power/utilities.
• Strong financial modeling skills and MS Office proficiency.

Responsibilities

• Develop and maintain Excel-based financial models for M&A and development activities.
• Analyze investment opportunities using valuation modeling, financial statement analysis, and market research.
• Prepare investment memos and present results to senior management and owners.
• Assist with debt and tax equity financing, including lender modeling and due diligence.
• Coordinate due diligence across cross-functional teams to reflect findings in models and memos.

Skills

Excel

Financial modeling

Analytical thinking

Communication skills

Independent work

Power market knowledge

AI workflow tooling

Education

Bachelor’s Degree in Finance or related field

Tools

Word

PowerPoint

Job description

POSITION DESCRIPTION

Position Title: Associate, M&A

Reports To: Director, M&A

Direct Reports: No Functional Unit: M&A / Business Development

FLSA Status: Exempt Position Type: Full-Time

Office Location: New York City or Denver, CO

THE COMPANY

Onward Energy is an independent power platform that owns and operates over 7 GW of utility-scale wind, solar and natural gas generation projects across the U.S. Our Vision is to reliably power a sustainable future. Our Mission is that as North America’s premier independent power generator, we will deliver renewable and reliable power to our customers, opportunities to our employees, sustainable returns to the families who invest in us, and a better world to the next generation. Corporate Offices in Denver, New York and Charlotte, we are where renewable meets reliable. See www.onwardenergy.com for more information.

THE CHALLENGE

Onward Energy is seeking an experienced Associate to support the growth of our platform through acquisitions, financings, and development of utility scale renewables, gas, and battery storage projects. You will be responsible for developing and maintaining financial models, preparing investment memos, coordinating due diligence amongst a cross functional team, and performing analytical analysis in support of new initiatives. Associates are given meaningful responsibility, direct exposure to senior leaders and transaction decision-making, and opportunities to broaden their commercial, financial, and strategic skill sets through hands-on experience.

THE RESPONSIBILITIES

• Own the preparation and use of Excel based financial models for our utility scale power M&A and development activities.
• Analyze investment opportunities from a quantitative and qualitative perspective including valuation modeling (DCF), financial statement analysis, market/industry research, and competitive analysis.
• Develop internal memos and presentations including deal investment memos for the Company's owners, focusing on investment returns and valuation metrics.
• Present financial results and investment recommendations to senior management and our owners.
• Assist with raising debt and tax equity for acquisition targets, including creating lender models, structuring third party capital, ratings agency presentations, and coordinating due diligence.
• Coordinate and assist with the due diligence process from screening through closing, collaborating across functional teams, management, external advisors, and transaction counterparties to drive timely information flow, evaluate findings, and ensure all material diligence insights are accurately reflected in financial models, valuation analyses, and investment recommendations.
• Support review of transaction documentation and commercial agreements and identify financial, operational, and valuation implications.
• Provide analytical and modeling capabilities to companywide initiatives including sales, re-contracting, redevelopment and other portfolio projects.
• Support the M&A team’s sourcing efforts, maintaining our M&A opportunity pipeline.

THE PROFILE TO SUCCEED

• Bachelor’s Degree in Finance, Business Economics, or other rigorous quantitative disciplines (Experience may substitute for degree).
• Two (2)+ years of experience in investment banking, project finance, development, or asset management in power and utilities with a focus on financial analysis.
• Excellent financial modeling skills, and strong proficiency in MS Office Suite, including Excel, Word and PowerPoint.
• Exceptional analytical capabilities, attention to detail and ability to produce accurate, well‑organized, and audit‑ready analysis under tight timelines.
• Highly organized under strict deadlines; ability to work on multiple projects concurrently and track requirements, deliverables and timelines.
• Familiarity with US power markets with eagerness to increase power market knowledge.
• Self-starter with a strong work ethic.
• Strong verbal/written communication and presentation skills.
• Ability to work well independently and as part of a cross‑functional collaborative team.
• Experience with agentic AI tools and the ability to develop, adapt, and optimize AI‑driven workflows is a plus.
• Familiarity with tax equity financing structures is a plus.

THE PHYSICAL REQUIREMENTS

Must be able to accomplish physical requirements with or without reasonable accommodation.

• Ability to stand, walk, talk, hear, and close and distance vision capability.
• Ability to sit, climb or balance, stoop, kneel, and/or crouch.
• Ability to lift and/or move up to 10 pounds.
• Ability to travel up to 10%.

THE TEAM

The Onward Energy team is comprised of industry professionals who embrace our values of accountability, adaptability, collaboration, and excellence. At Onward Energy, we seek to find solutions rather than assign blame. Our M&A team operates in a high-performance environment built on excellence, accountability, and intellectual rigor. We hold ourselves and each other to a high standard of quality, responsiveness, ownership, and execution. Well-supported debate and respectful pushback are encouraged as part of our decision-making process, and we expect Associates to contribute thoughtful analysis, independent judgment, and well‑reasoned recommendations. We invest in team members who are intellectually curious, take ownership and want to grow into trusted transaction professionals and future leaders of our industry.

THE WORK ENVIRONMENT

The position functions in a smoke and vaping free professional office environment. The role routinely utilizes standard office equipment such as laptop computer, phone, and scanner/photocopier.

THE TOTAL REWARDS

Onward Energy total rewards philosophy is motivated by a key tenet of People First and offers employees a comprehensive total rewards package which includes market competitive compensation, health, life insurance, and retirement savings benefits.

If you require accommodation for any part of the employment process due to a disability to [e-mail].

EEO STATEMENT:

Onward Energy is an Aff… Females/Minority/Veterans/Disabled/Sexual Orientation/Gender Identity.

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.