Octopus Energy
Portfolio Associate
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Help us make a big green dent in the universe. We're on a mission to drive the global renewable energy revolution, and we need many more people to help us make our vision a reality.
Octopus Energy Generation (OEGEN) is a leader in sourcing, investing in, and managing a wide range of utility-scale renewable energy assets. As we continue to expand our investment base, we are dedicated to building a diverse team that reflects the communities we serve. Currently, we manage a global portfolio of over £8 billion in renewable energy assets.
We are committed to delivering best-in-class responsible investment activity, offering like-minded investors the means and products to invest their capital sustainably. It is our ambition to change the entire energy lifecycle and make every green electron matter, delivering the best outcomes for customers, investors, the environment and society, accelerating the transition to net zero.
About the role
We are looking for a Portfolio Associate to join the OEGEN funds team, to support Octopus Renewables Infrastructure SCSp, a Luxembourg-based, a renewable energy and energy infrastructure open-ended unitised partnership with nearly £3bn of funds under management. The fund is expected to grow through new investor subscriptions, offering strong opportunity for development within the role.
The role combines valuation, portfolio management and value creation. As part of the role you will be allocated a number of asset portfolios (typically on a country or technology basis) from the Sky fund for which you have responsibility for the quarterly valuation process, identifying opportunities to enhance long term asset value and work alongside the country P&L leads to support short term performance and decision making. This includes analysing operational performance, new revenue contracts, financing structures, asset life extensions and other initiatives that maximise long-term investor returns. In addition you will support portfolio performance and strategic decisions at the fund level, including, but not limited to, debt strategies and the impact of acquisitions and disposals on fund metrics.
This is a hands-on portfolio management role with valuation at its core. The successful candidate will be expected to update, operate, improve and own valuation models directly, not simply review outputs prepared by others and take an active role in the delivering the performance targets for the portfolios they are responsible for. They will work closely with portfolio management, asset management, finance, tax, external valuers and auditors to ensure valuations are technically robust, commercially grounded and clearly explained to decision-makers. Alongside this they will be able to oversee external valuation agents to ensure that consistency is maintained across the portfolio. The successful candidate is also expected to work with OEGen teams to assess and deliver long term value strategies and support short term performance objectives.
The role would suit someone from an infrastructure fund, renewable energy investment manager, infrastructure asset manager, project finance team, or specialist valuations / modelling team in professional services. The key requirement is strong practical valuation experience, direct model ownership and the ability to translate valuation insights into commercial portfolio decisions.
The role also has a forward-looking change agenda. We are investing in tools to improve the quality, consistency and efficiency of valuation processes. The successful candidate should be comfortable using advanced Excel and ideally VBA, and should be interested in how automation, data tools and AI can improve infrastructure valuation processes over time.
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What you'll do
Valuations
- Valuation ownership and model operation: Own and deliver quarterly valuation updates for assigned assets which will include Sky’s offshore wind portfolio. This will include updating DCF models, refreshing assumptions, reviewing outputs, preparing valuation bridges, identifying key movements and ensuring valuation conclusions are accurate, well-supported and clearly explained. Contribute to Valuation Committee papers, including valuation summaries, movement analysis, key judgements, risk areas, sensitivities and recommendations. Ensure papers are clear, concise and decision-useful, with enough evidence for senior stakeholders and Valuation Committee members to understand and support the valuation position
- Valuation assumption ownership: Develop a deep understanding of valuation drivers, including power price assumptions, generation, availability, operating costs, asset life, merchant exposure, debt structures, discount rates, inflation, FX, tax and regulatory or contractual considerations. Work closely with asset management teams to understand operational performance and forecast assumptions. Challenge assumptions where evidence is weak, inconsistent or not aligned with valuation practice, while maintaining a constructive and commercial relationship with asset managers.
- Model Improvement: Use new tools to improve model consistency, control and efficiency. Maintain, improve and simplify models where appropriate, including through advanced Excel, VBA, automation or other tools. Help identify where AI and data tools could reduce manual effort, improve review quality or strengthen valuation insight
- Independent valuer and audit support: Support engagement with external valuers, auditors and other advisers. Prepare analysis, answer queries, reconcile outputs and help ensure valuation conclusions are defensible under internal governance and external review
Long Term Value Enhancement and Support Short term Performance
- Portfolio enhancement and value creation: Identify opportunities to enhance portfolio value through refinancing, optimisation of capital structures, asset life extensions, operational improvements and strategic portfolio actions. Develop business cases, undertake financial analysis, work alongside asset management teams to implement initiatives and track realised value creation over time. Monitor the impact of optimisation initiatives and quantify value created through refinancing, operational improvements, contract optimisation and strategic decisions
- Portfolio management: Support the delivery of the annual performance targets of your allocated portfolios by supporting the asset management team on commercial decision making.
- Debt modelling, financing assumptions and treasury products: You will understand the debt structures in place within your asset portfolios and ensure that all lender requirements are understood and complied with. Ensure debt, refinancing, covenant, hedging, FX and interest-rate assumptions are appropriately reflected in the short term asset budgets and valuation models and committee materials. Assess covenant optimisation and refinancing opportunities.
Sky Fund Level Analysis
- Reporting, data and KPI ownership: Monitor investor returns, track record and other asset and fund KPIs, ensuring accurate data and informative forecasts. Ensure new acquisitions assigned to you are onboarded into the fund management and valuation process effectively, with clear ownership, assumptions, controls and reporting outputs.
- Investor Relations: Support the creation of investor reports and other materials, ensuring information is accurate, relevant and clearly presented. Support follow-on fundraising and due diligence processes through the provision of high-quality data, analysis and valuation commentary
- Investment and transaction support: Support new acquisitions, disposals, restructurings and portfolio decisions through valuation analysis, model review, sensitivity analysis and input into investment or committee papers. The analysis will be used by the Fund Managers to assess the desirability of the new investments and the impact of the fund. Ensure new assets are onboarded into the valuation process with clear ownership, assumptions and controls
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What you'll need
- Minimum of 4 years relevant working experience.
- Previous experience of working in infrastructure, renewable energy, infrastructure asset management, project finance or infrastructure valuation. Offshore wind experience specifically is advantageous.
- Experience of modelling, specifically, discounted cash-flow modelling and debt modelling skills. A modelling test will be part of the recruitment process. Advanced excel capabilities
- A strong understanding of fund management processes for debt and equity for listed funds
- Strong written skills, with experience preparing valuation papers, investment papers, committee papers, board materials or investor-facing analysis
- Strong financial acumen. Progress towards CFA, ACA, ACCA or another relevant qualification would be advantageous
And to really stand out from the crowd, you will display the following qualities and characteristics:
- Detail orientated, taking accountability for the accuracy of every output. Able to self review
- Able to plan ahead but also work under pressure, always delivering to deadlines
- Able to interpret information and distil concisely
- Able to demonstrate good verbal and written skills
- Able to collaborate. A team player, flexible in approach and able to support others as necessary
- Thrive in a fast moving business, able to see solutions where others see problems, passionate about improving processes, models and customer outcomes. Excited, not overwhelmed by a challenge
💚 Why else you'll love it here
💰 Wondering what the salary for this role is? Just ask us! On a call with one of our recruiters it's something we always cover as we genuinely want to match your experience with the correct salary. The reason why we don't advertise is because we honestly have a degree of flexibility and would never want salary to be a reason why someone doesn't apply to Octopus - what's more important to us is finding the right octofit!
🎉 Octopus Energy Group is a unique culture. An organisation where people learn, decide, and build quicker. Where people work with autonomy, alongside a wide range of amazing co-owners, on projects that break new ground. We want your hard work to be rewarded with perks you actually care about! We were recently named the UK's top company to work for, and we ranked in the top ten in the Sunday Times Best Places to Work 2024. Our Group CEO, Greg has recorded a podcast about our culture and how we empower our people. We’ve also been placed in the top 10 companies for senior leadership
Our process usually takes up to 4 weeks, but we’ll always do our best to flex around what works for you. Along the way, you’ll chat with our recruitment team and your Recruiter will help you throughout different stages. Got any burning questions before then? Drop us a message at hiring@octoenergy.com and we’d love to help!
If this sounds like you then we'd love to hear from you. 🚀
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