Associate Asset Manager at 38 Degrees North
Location: Sausalito, CA (on-site); remote considered.
Founded in 2015 and based in Sausalito, California, 38 Degrees North (38DN), is an established platform focused on advancing distributed renewables solutions, serving as a development partner, asset owner, and operator. The founders have a track record of over 4GW and $8.5B of capital formation prior to forming 38DN.
With a depth of experience in energy transition capital partnerships, the company specializes in community solar, distributed generation and battery storage, while opportunistically evaluating other sustainable infrastructure assets. Its approach is geared toward cultivating lasting relationships and designing dependable and flexible solutions that provide clear visibility into portfolio value creation.
In January 2024, 38 Degrees North announced a growth equity investment from S2G Ventures, a leading multi-stage investment firm focused on the energy transition, food, agriculture, and oceans. With the investment from S2G, 38DN looks to accelerate its growth by partnering with local communities, customers, and community and distributed solar and storage developers to deploy capital into assets across the development spectrum.
Job Description:
38DN is actively seeking an Associate Asset Manager who is a proactive, self-driven professional with technical, financial, and/or commercial experience in the renewable energy sector. The ideal candidate will have direct experience managing operating solar power assets and a desire to help build and scale the asset management function within a growing private investment company.
In this capacity, you will:
- Work with the 38 Degrees North Team to support management of a portfolio of operating solar and battery storage assets.
- Review technical and financial performance of assets vs plan, identifying key variance drivers, and seeking out opportunities to optimize performance.
- Prepare operational reporting for company management, investors, lenders and other parties. Support monthly operations reviews.
- Ownership of financial models that track investment performance and returns.
- Lead regular project cash management, including payments, debt service, and distributions.
- Interface with operations and maintenance contractors to ensure equipment issues are addressed in a timely manner and preventive maintenance is performed.
- Interface with community solar customer management firms to monitor performance, enforce contractual obligations, and maximize revenue.
- Work with 3rd party asset management consultants supporting the portfolio where applicable.
- Populate and manage contractual compliance database and ensure that all related obligations are being met on schedule.
- Onboard new projects into the asset management function by coordinating with the project development, construction, and finance teams.
- Support annual budgeting, forecasting and insurance renewal efforts for our portfolio.
- Support asset management related workstreams for new investment opportunities.
- Collaborate with other team members to develop best in class asset management processes, systems, and procedures as we scale our portfolio.
Key Characteristics:
- A passion for the energy transition and interest in maximizing the positive impact of operating renewable energy assets.
- An interest in helping to scale the asset management function within 38 Degrees North to support our growing portfolio.
- Comfort with and desire to work in a less structured, entrepreneurial environment.
- Capable of building trust and fostering collaboration and positive working relationships inside our company and with 3rd parties.
- An ability and interest in connecting technical, operational, contractual and financial factors to make good decisions and explain outcomes.
- An extremely high level of attention to detail.
- Well-organized, vigilant, and competent in juggling a multitude of projects and priorities.
- Proficient in working under pressure, adhering to deadlines, and embracing additional responsibilities proactively.
- Outstanding communication abilities, both written and verbal.
- Collaborative spirit, a good sense of humor, and a driven, mission-oriented approach.
Qualifications:
- 1-4+ years of experience at a renewable energy developer/owner/operator/investor, related consulting firm, or other related business.
- Bachelor's degree in engineering, finance, accounting, or a related discipline; advanced degree is a plus.
- Experience with operating renewable energy assets, including a subset of the following: asset management, operations and maintenance, engineering, project finance, project contracts, accounting, project development, construction.
- Battery storage and/or community solar experience is a plus.
- Intellectual agility and curiosity, analytically oriented, and desire to apply these skills in an entrepreneurial environment.
- Ability to meet deadlines, work well under pressure in a fast-paced environment and produce accurate results.
Employment:
- Full time salaried position with competitive compensation (base & bonus).
- In addition to base salary, this position is eligible for equity compensation.
- Ability to participate in 401(k), company Defined Benefit Plan, and company provided health insurance.
