Associate Portfolio Manager

The Company

Cypress Creek Renewables is powering a sustainable future, one project at a time. We develop, finance, own and operate utility-scale and distributed solar and storage projects across the country. Fostering a diverse group of innovative thinkers from all backgrounds, Cypress people are drawn to work in a purpose-driven organization. We hope you will join us.

Overview

The Associate Portfolio Manager will be primarily responsible for strategic decision making and execution of transactions to manage the daily, prompt month and term optimization and management of the company’s generating and battery storage assets and market positions in the PJM and supporting ERCOT market activity. Reporting to the VP Origination & Portfolio Management, this position will be responsible for performing a series of tactical and strategic actions focused on maximizing assets’ P&L while mitigating risk levels, in coordination with the Revenue, Fleet and Solutions teams within Cypress Creek.  Additional responsibilities will be focused on analysis and structuring of hedging opportunities, nodal optimization strategies, as well as formation and reporting on market fundamentals. 

Responsibilities

• Responsible for commercial management of the Cypress Creek fleet in PJM and backing up the ERCOT Portfolio Manager
• Running dispatch and trade decisions with a continuous focus on balancing risk versus return to produce maximum profitability
• Monitoring and analyzing market information to identify opportunities to maximize profitability and reduce risks, including basis, congestion, curtailment, intermittency, etc.
• Optimize solar generation and battery storage assets based upon economic conditions and operational constraints
• Develop bidding strategies and manage the Day-Ahead and Real-Time operations of the PV and BESS Portfolio
• Provide schedules to third party Energy Manger to bid into the market and schedule power and ancillary services
• Participate in the elaboration and execution of the monthly FTR/CRR strategies to better manage congestion risk
• Monitor, analyze and incorporate weather and solar generation forecasts, load forecasts, generation availability, transmission outages, constraints into decision making
• Participate in the day-to-day risk management and optimization of operating storage
• [Commercialize the inventory of RECs produced by the assets]
• Review, analyze and discuss the commercial terms of existing and upcoming PPAs, identifying the underlying risks, proposing alternative language and/or mitigation strategies
• Support the development of strategy towards short-term optimization of storage assets, involving automatic forecasting, optimization, and execution of orders in the market
• Support Development teams on new solar and battery storage assets, offering views on ISO/RTO protocols, congestion landscape, pricing of products, etc.
• Work with Origination team to support negotiation and execution of offtake agreements and develop new products
• Analysis of complex offtake structures, term sheet analysis and valuation
• Close coordination with the Fleet and Solutions (O&M) teams to stay informed about unit availability, outage schedules and communicate all vital information to plant personnel and the respective RTO/ISO
• Collaborate effectively with cross-functional teams including Revenue, Origination, Development, Project Finance, Fleet and Solutions teams
• Ensuring compliance with risk management policy in effect
• Verifying transactions and settlement information and resolve discrepancies as needed
• Responsible for marking positions and curves
• Communicate risk metrics and articulate sensitivities and economic impact of market movements on the portfolio
• Performs ad hoc analysis to support analysis, decision making and market view
• Creating reports on an ad hoc basis
• Monitor markets trends, regulatory landscape, current risk levels and exposures, and other relevant sources of impacts to the portfolio
• Provide insight and analysis into market fundamentals

Qualifications

• At least five (5) years of relevant experience in Competitive Energy Markets
• Desired areas of expertise: power trading, asset management and real-time scheduling and dispatch, BESS optimization
• Experience working on a power trading desk
• Commercially oriented structuring and risk management experience 
• Experience in the market structure, transactions, and protocols of PJM and ERCOT (experience in other ISOs is highly valued)
• Bachelor’s degree in a relevant subject area required
• Analytical, ability to provide precise and solid insights, identify causes and conditions, structure action plans, and propose and explain to internal stakeholders
• Resourceful, ability to use a variety of tools, data sources, and systems; and inherent curiosity to procure and test new resources
• Able to identify and formulate risks management strategies for a variety of assets and at the portfolio level
• Strong commercial capabilities and attention to detail
• Excellent interpersonal and strong communication skills.
• Understanding of renewable generation technology, especially solar and battery storage
• Knowledge of US energy markets, wholesale power markets, RTO operations and electric transmission
• Proficiency in Excel, SQL, VBA, Python a plus

Benefits:

• 15 days of Paid Time Off, accrual up to 20 days, 11 observed holidays.
• 401(k) Match
• Comprehensive package including medical, dental, vision and health insurance
• Wellness stipend, family planning stipend, and generous parental leave
• Tuition Reimbursement
• Phone Bill Reimbursement
• Fully expensed company travel, mileage reimbursement
• Company Swag

A note to Recruiting Agencies Cypress Creek Renewables Human Resources team does not accept unsolicited resumes from third party recruiters, staffing firms, or related agencies. The Human Resources team coordinates all recruiting and hiring at our company. We do not accept resumes from third-party recruiters unless authorized by the Human Resources team and if a signed agreement is in place. Any unsolicited resumes will be considered property of CCR and we are not responsible for any related fees. All communication related to recruiting partnerships should ONLY be directed to the Human Resources team. 

Cypress Creek Renewables is an equal opportunity employer and considers all qualified applicants without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or veteran status. We are committed to providing a workplace that is inclusive and values diversity, and we encourage candidates from all backgrounds to apply.