Vice President, Commercial Operations | Revenue Generation | Asset Optimization | Hedging | Battery Storage

Posted 17 January 2023
Salary $DOE
LocationUnited States of America
Job type Permanent
DisciplineRenewable Energy & InfrastructureEnergy, ESG & Green Tech Finance
Contact NameRory Chandler

Job description

Vice President, Commercial Operations | Revenue Generation | Asset Optimization | Hedging | Battery Storage

GRC is partnered with a leading utility scale battery storage IPP in their search for a VP Commercial Operations. The firm have an operational portfolio and a development pipeline of 10GWh throughout the US.

Our client seeks a Vice President of Commercial Operations to develop, implement and oversee the Company’s revenue generation and optimization strategies across its fleet of operational and planned/in-development front-of-meter utility-scale battery energy storage projects.

The VP of Commercial Operations will report to the Company’s CEO, and will collaborate closely with the Company’s asset management, development, legal, and finance teams to ensure short-, medium- and long-term revenue optimization through developing and implementing offtake contracting, hedging, and market participation strategies.

Key Responsibilities

  • Participate in the development of the Company’s overall business strategy, including analyzing the attractiveness of potential new state and regional markets for potential entry and investment, in support of the Company’s growth objectives.

  • Collaborate with the Company’s asset management and development teams to:

  • Develop strategies to maximize energy storage project revenues, consistent with the Company’s risk tolerance, across the Company’s fleet of operational and in-development assets.

  • Develop and maintain relationships with potential offtakers including regulated utilities, munis, coops, energy commodity traders, and other energy market participants.

  • Originate, innovate, structure, and negotiate new offtake and hedging contracts for the Company’s energy storage projects.

  • Support the creation and management of RFP and bilateral offtake contract proposals and negotiations.

  • Optimize net revenues generated by the Company’s portfolio of merchant storage assets operating in US ISO wholesale power markets.

  • Work with market consultants to develop a deep understanding of key ISO markets and products, and to develop and support revenue budgets and long-term forecasts for the Company’s projects.

  • Monitor and report on actual revenue results, and measure performance versus budgets and optimal outcomes.

  • Analyze and evaluate the economic benefits and risks of potential offtake contracts, trades, and hedges, and advise Company management as to transaction pricing and terms.

  • Assess energy market risk positions across the Company’s project portfolio and manage market risks consistent with the company’s policies and risk tolerance.

  • Monitor ISO and utility commission proceedings related to energy storage and/or other market rules and planning projects that can be expected to impact the Company’s project portfolio, contractual obligations, or pricing and deliverability positioning.

  • Identify and implement beneficial partnering and/or service provider relationships that can enhance the Company’s revenue maximization strategies and objectives.

Skills and Qualifications

  • Bachelor’s degree or higher in economics, finance, or a related field.

  • Fifteen (15) or more years of experience participating in organized energy markets, energy trading, and/or energy risk management. Experience in CAISO and ERCOT and with energy storage assets a significant plus.

  • Deep understanding of US energy and power and energy markets, including the applicable regulatory structures of wholesale energy, capacity, and ancillary services markets.

  • Relationships with leading US energy market participants and consultants a plus

  • Very strong quantitative and data analytics skills.

  • Excellent written and verbal communication skills, with the ability to communicate effectively with all levels of management.

  • Team player and can collaborate with other teams in the organization.