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Capital Dynamics

Associate, Clean Energy

Madrid
Posted 1 day ago
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About Capital Dynamics

Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries, and direct investments) and clean energy.

Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 14 billion in assets under management and advisement and employs approximately 150 professionals globally across 14 offices in Europe, North America, and Asia.

Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as in GRESB benchmarking for its clean energy strategy.

OUR CLEAN ENERGY BUSINESS

Our Clean Energy team makes direct equity investments in carbon-reducing renewable energy, from late-stage development through to commercial operations. Capital Dynamics is one of the largest managers of UK onshore wind assets and subsidy-free solar PV in Europe, and our portfolio's reach extends deep into the Spanish, Italian, and German markets. We focus on de-risking projects as they exit development and optimizing performance and capital structure through to commercial operations.

THE OPPORTUNITY

We're looking for a driven, commercially sharp Associate to join our Clean Energy Investment team, based in either London or Madrid. Reporting to a Director, you'll be a core member of the deal team — involved across the full investment lifecycle, from origination and due diligence through to execution, financing, and post-acquisition asset management.

You'll build the financial models and investment committee materials that shape live decisions, support ongoing valuations and investor reporting, and work closely with stakeholders across the fund — consultants, advisors, and investment committees among them. Because our portfolio spans Spain, Italy, and Germany, your language skills won't just sit on your CV; you'll use them to engage directly with markets, counterparties, and colleagues across Continental Europe.

LANGUAGE REQUIREMENT — ESSENTIAL

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PwC·London, UK
£35,000/yr

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This role requires fluency in English plus one of: German, Spanish, or Italian.

Our Clean Energy portfolio spans Spanish, Italian, and German markets, so this is a genuine day-to-day requirement of the role, not a nice-to-have — candidates who don't meet it won't be able to progress.

WHAT YOU'LL OWN

  • Lead the build of automated financial models and run financial sensitivities to inform deal decisions.
  • Draft investment committee memoranda that directly shape live investment decisions.
  • Support due diligence on acquisitions and the execution process on divestitures.
  • Support the financing activities of investments across the portfolio.
  • Conduct market analysis and research — including across the Spanish, Italian, and German markets — to inform the team's investment decisions.
  • Partner with the Asset Management team to monitor and optimize investment performance post-acquisition.
  • Run scenario and sensitivity analysis to appraise projects under different performance conditions.
  • Represent the team at meetings, conferences, and internal discussions.
  • Work with the Business Development and Product Development & Strategy teams to respond to investor requests.

WHAT WE ARE LOOKING FOR

Experience & Technical Skills

  • A demonstrable track record in clean energy infrastructure, renewable energy, BESS, and/or data center deals in Europe, with strong knowledge of the Spanish, Italian, and German markets.
  • Good understanding of accounting, finance, and company valuation; asset management exposure is a plus.
  • Comfortable with core financial methodologies — leveraged buyout, forecast analysis, financial statement analysis, and discounted cash flow analysis.
  • Extensive practical financial modelling experience, including modelling of debt financing.
  • Working knowledge of financial analysis ratios such as yield, IRR, and NPV.
  • Good working knowledge of the support frameworks for renewables.
  • Comfortable using AI tools and large language models to accelerate market research, first-pass analysis, and document drafting, with sound judgement on where human review is essential.

Education & Qualifications

  • Minimum 2:1 degree (or international equivalent) in Business, Finance, Responsible Investment, Renewable Energy, or a related field.
  • Exceptional proficiency in MS Word, PowerPoint, and Excel.
  • A keen interest in Responsible Investment and frameworks such as the UN Sustainable Development Goals, or a genuine willingness to learn.
  • Languages
    • Essential — Fluent English with excellent writing skills, plus fluency in German, Spanish, or Italian.
    • Desirable — Proficiency in a further European language, preferably Polish, Danish, Finnish, or Swedish, etc.

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You'll Also Bring

  • Highly developed analytical skills and the confidence to work on your own initiative.
  • The ability to work accurately under pressure in a fast-moving environment.
  • Strong organizational skills and exceptional attention to detail.
  • The ability to produce high-quality presentation materials.
  • A team-oriented, problem-solving, results-focused mindset.
  • Articulate, balanced, and cogent verbal and written communication.

Our Equal Opportunity Commitment

Capital Dynamics is an Equal Opportunity Employer and is committed to creating a global diverse workforce. We are a global company with 24 nationalities represented across our staff in 14 offices, spanning North America, Europe, the Middle East, and Asia. We believe diversity and inclusion (“D&I”) is key to being better at what we do, and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status, or any other dimension of diversity. We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics.

Please inform our recruitment team if you have a disability, condition, or difference that may require us to make any adjustments as part of your application process or during employment.

Disclaimer

Due to the volume of applications we receive, we are only able to contact candidates who have been shortlisted for further consideration. If you have not heard from us within two weeks of submitting your application, please assume that your application has not been successful on this occasion. We appreciate the time you have taken to apply and encourage you to monitor our careers page for future opportunities.

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Skills

Financial modeling
Investment analysis
Due diligence
Renewable energy
Asset management
Valuation
Market research
Project finance
Investment committee memoranda
Scenario analysis
Accounting
Data analysis
Stakeholder management
German language
Spanish language
Italian language

Location

Madrid, Community of Madrid, Spain

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