Commercial Manager, Renewables

~ Capital Power (TSX: CPX) is a growth-oriented North American power producer headquartered in Edmonton, Alberta. The company develops, acquires, operates and optimizes power generation from a variety of energy sources. ~

Capital Power owns approximately 4,500 megawatts of power generation capacity at 24 facilities and is pursuing contracted generation capacity throughout North America. 

Position Overview

Capital Power Corporation is currently seeking an innovative and results-oriented individual to join our Commercial Management team.

Reporting to the Director, Commercial Services (Renewables), the Commercial Manager, Renewables is accountable for proactively identifying commercial risks and opportunities for existing assets, both for the short-term and the longer term. In coordination with Operations and other internal functional groups and external parties the Commercial Manager, Renewables develops and implements risk management strategies and mitigating plans to preserve and enhance and optimize the value of existing assets. This includes accountability for delivering the value add targets for commercial management assigned for each asset. In coordination with Operations, Strategic Planning and Finance — and consistent with corporate objectives and external markets and regulatory conditions — the Commercial Manager, Renewables provides expert input and drafts assigned sections of a strategic asset management plan for the assigned generation facilities.

The Commercial Manager, Renewables owns and manages the day-to-day relationship with the applicable counterparties or joint venture partners, works independently (and/or in coordination with Operations/CPM) on short-term and long-term asset optimization opportunities, issues or disputes, ensures compliance with applicable agreements, and is the lead point of contact on applicable asset matters with legal, regulatory, finance, environment and external regulatory agencies and government entities. The Commercial Manager, Renewables will also be responsible for monitoring market development and their impact on the value of the asset and in coordination with other internal groups, develops and implements strategies to preserve and enhance the market of the assets with a broader portfolio view. This includes developing and presenting information to external parties for any asset divestiture process.

Responsibilities

• Leads and coordinates internal subject matter expert teams for the commercial management and optimization of value for the assigned asset and the generation fleet.
• Steering interaction with appropriate SMEs – operations, legal, credit, regulatory, finance, environmental, external suppliers, off-takers and regulators on commercial activities that generate revenue, reduce cost, or reduce and/or mitigate risks and/or provide opportunities for enhancing value.
• Conducts the negotiation of commercial contracts with external third-parties for supply of key facility inputs and sale of products and services – e.g. PPAs, REC contracts, long-term service agreements.
• Independently coordinates and manages relationships with external stakeholders, working in consultation with internal stakeholders.
• Identifies and analyzes a variety of opportunities with respect to the current or future commercial management and operation of the asset(s), including monitoring and assessing the external environment for trends, threats or opportunities, including developing action strategies by leading and coordinating activities with internal stakeholders to address, optimize, and mitigate such trends, threats and / or opportunities.
• Provides commercial support to facility managers on operating and capital investment issues to preserve or enhance the value of the facility; including cost / benefit analysis and alternatives, if applicable.
• Makes recommendations and leads efforts to resolve and manage issues or disputes with counterparties and JV partners; serves as a primary contact on such issues to resolve disputes.
• Leading and/or reporting on opportunities, challenges and/or issues at regular stakeholder meetings.
• Proactively manages and ensures compliance with all related commercial agreements; based on a strong working knowledge of relevant commercial environments, counterparties, and contracts that interface with the facility.
• Leads and manages to completion ad-hoc special projects or initiatives with respect to specific assets, or common initiatives across all assets, as applicable.
• Participates in the evaluation of new assets/opportunities identified by Business Development for acquisition or greenfield/brownfield development.

Qualifications

Education:

• Degree in Engineering, Commerce or Economics; Masters or working toward Masters an asset.
• A professional designation is considered an asset.

Experience:

• 7+ years of experience of in an operational, commercial, engineering, business development, or financial and analytical roles; preferably in the deregulated electricity or other related industry.
• Knowledge/experience with respect to power markets, power generation, power marketing, regulatory, commodities and related agreements, transmission/transport and related agreements and power purchase agreements is preferred.

Technical Skills:

• Deep understanding and experience in power markets, electricity generating plants, plant operations for each region where the asset is situated.
• Experience working with complex legal agreements or contracts.
• Commercial management or negotiating experience.
• Reasonable levels of financial analysis skills, familiarity with financial statements, budgets, forecasting and development of asset earnings profiles.
• Proficient in contract review and negotiations.
• Project management experience and ability to interface with all levels of the organization.
• Ability for travel in the North American market to plant sites and other offices.

Social Process Skills:

• Excellent verbal and written communication skills.
• Well-presented with the ability to represent the company with external parties.
• Ability to work with multiple internal and external stakeholders, on multi-disciplinary issues and opportunities.
• Team player.
• Initiative, ability to deal with ambiguity and conflict, ability to exercise influence.
• Attention to detail and accuracy.
• Ability to handle dynamic and heavy workload.
• Capable of making sound decisions of an independent nature.
• Provide recommendations to Senior Management to resolve issues in a proactive manner that benefits the interests of Capital Power.

Working Conditions:

• Some travel required.