Tetra Tech ES, Inc., a subsidiary of Tetra Tech dedicated to international development, is recruiting a Project Finance and Modeling Analyst (PFMA) to provide Financial Modelling and Analytical support services for the USAID-funded Sustainable Energy for Pakistan (SEP) Project.
POSITION DESCRIPTION:
A full-time PFMA with an interdisciplinary skill set who will work on a variety of deliverables across different renewable energy thematic areas.
The Job Description for the PFMA will include various financial, economic, regulatory, and analytical services at the direction of the Chief of Party (COP) and delegated task leads in SEP across a variety of areas which include but are not limited to the following:
- Knowledge of renewable energy market in Pakistan with respect to policy, finance, project risks, and financial modelling services
- Expertise in developing financial models for energy projects consistent with the requirements of NEPRA tariff determinations for the competitive bid process.
- Project development issues (including technical, commercial, legal and GoP compliance and approval processes) faced by developers during the renewable energy project development and structuring process in Pakistan
- Work or engagement experience with financial institutions, GoP policymakers (Alternative Energy Development Board (AEDB), Ministry of Energy, etc.) and project developers on renewable energy issues and topics.
- Ability to provide capacity building to both the public and private sectors based on prior experience with renewable energy project development and financing.
MAIN RESPONSIBILITIES AND TASKS:
The PFMA is expected to respond to a variety of tasks which may include, but are not limited to the following:
- Develop financial models for energy projects consistent with the requirements of NEPRA tariff determinations for the competitive bid process.
- Design of Pakistan specific financial models consistent with investor and lender requirements of bankability for the full range of renewable resources including wind, solar, hydel, bagasse, hybrid and storage technologies.
- Development of financial and economic analysis tools for renewable energy projects (wind, solar), and for evaluating the sector-wide viability of operations.
- Development of the spreadsheet models to estimate the capacity charges and energy payment obligations arising out of the Power Purchase Agreements (PPAs), including the local and foreign currency components.
- Evaluation of the hedging instruments available for mitigating the foreign exchange risks related to private power plants.
- Development of probabilistic risk allocation models for renewable energy projects.
- Project Financing and Transaction support to projects from the LoS stage to FC, for projects in Categories 1 and 2. This may include a variety of tasks including consistency checks between the NEPRA determined tariff and the requirements in the lender’s term sheets, review and consistency checks between the LoS, Energy Purchase Agreement (EPA), the Implementation Agreement (IA) and the Financing documents.
- Support the drafting, review and finalization of Expressions of Interest (EoI), Request for Proposals (RFP), bid proposal, project agreements and other related documents and procedures for renewable energy procurement based on competitive solicitations for projects in Category 3.
- Assist in the implementation of the competitive procurement process beginning with the distribution of the EoI, solicitation, evaluation and award of bids. SEP may extend this task to support AEDB until the achievement of financial closing.
- The PFMA will also conduct other activities related to the above Scope of Work, as requested, by the Task Leaders.
Location:
The PFMA will be based in Islamabad. Limited travel may be required for work purposes, subject to the needs of the assignment.
QUALIFICATIONS: (MINIMUM REQUIREMENTS):
Master’s Degree in either finance, economics, accounting, business administration, public policy or other applicable fields from accredited institutions.
WORK EXPERIENCE:
The PFMA must have at least a cumulative seven years of documented hands-on experience in:
- Reviewing, refining and integrating the various project agreements, including EPAs, IAs and financing documents from a project financing and commercial perspective for renewable energy projects in Pakistan. The PFMA must also have experience to advise and guide developers, at a minimum from the LoS to the FC stage.
- Designing and construction of NEPRA tariff determination and project financing models of renewable and thermal energy generation projects.
- Full understanding and knowledge of the financial and economic analysis at the project-level, and power sector-wide, and ability to develop appropriate analytical tools.
- Familiarity with risk-analysis and the risk-mitigation tools, including the hedging instruments used in the power sector.
- Knowledge of relevant policies, regulations, rules, agreements and laws of Pakistan as applicable to the power and energy sector.
The candidate should submit a list of the renewable energy projects that he/she has worked on with a precise definition of the role played by the candidate in each project as part of the credentials package at the time of application.
SKILLS:
- Should have hands-on experience in tariff design, financial modelling, analysis, evaluation and closing of energy, particularly renewable energy project transactions.
- Should have developed spreadsheet-based analytical tools to analyze financial and economic questions arising from the operations in the power sector.
- Should have the ability to provide on-the-job training and transfer knowhow to the beneficiaries of this assignment.
- Must be team oriented, professional, flexible and comfortable with working in diverse organizations and work environments.
- Ability to work under tight timelines and compressed schedules
- Willingness to do whatever it takes to get a job done, be able to multi-task, and have a proactive attitude.
- Fluency in Microsoft Office (PowerPoint, Word, Project), especially Excel.
LANGUAGES: Excellent language proficiency in both writing and speaking in English and Urdu.
GENERAL:
Tactfulness, enthusiasm for the assignment. Good human relation skills, integrity and ability to work under pressure.
The PFMA will have to comply with confidentiality provisions governing project-related information provided, obtained and/or developed during this engagement through suitable non-disclosure agreements (NDAs).
The PFMA will have to comply with conflict of interest (COI) provisions whereby it will not represent any party, or be part of any other engagement, which may potentially conflict with this assignment. This is another reason why we must have a list of companies and government institutions that the PFMA has worked/consulted for in the past and is currently engaged with.