Director of Asset Manager

Adapture Renewables, Inc. is an expert in developing, financing, engineering, building, and operating utility-scale and distributed generation photovoltaic and energy storage systems. Drawing upon an extensive knowledge base, we realize projects with speed, flexibility, and high quality. We are looking for a talented Director of Asset Management to help support the efforts of our fast-growing company. This is a remote position with up to 25% travel to project sites, the Oakland office, and partner meetings.

Adapture Renewables, Inc. is majority owned by KIRKBI – the private holding and investment company of the Kirk Kristiansen family founded to build a sustainable future for the LEGO ® brand through generations.

Overview

This position leads the Asset Management team within our Asset Performance and Optimization (APO) group and reports to the VP of Asset Performance and Optimization. The team manages the commercial and financial performance of more than 700 MW of operating utility-scale and distributed generation solar and battery energy storage projects across the United States, backed by a 7 GW development pipeline.

The team sets strategy for and oversees contract compliance, tax equity and investor relations, financial management and reporting, operational performance, regulatory compliance, and the transition of new projects from construction to operations. The Director will build and lead a high-performing team of Asset Managers, a Regulatory Compliance Manager, and an Asset Integration Manager; work closely with internal teams (Development, M&A, Engineering, Construction, Legal, Finance, Tax, and O&M);

build trusted relationships with offtakers, investors, and lenders; and mentor staff.

Core Responsibilities

Commercial and Financial

• Lead tax equity management where applicable: manage relationships with tax equity investors, administer partnership and operating agreements, track cash distributions and allocations, prepare investor reporting, and manage consents, notices, and other investor approvals
• Monitor investment tax credit (ITC) compliance, including recapture risk and flip timing, with Finance, Tax, and Legal, and support flips, buyouts, and other tax equity milestones
• Lead the team that serves as the primary contact for offtakers, tax equity investors, lenders, and other financing parties, and make sure their questions are answered accurately and on time
• Own project-level operating budgets built on prudent assumptions for revenue, operating expenses, and capital expenditures, and run the monthly, quarterly, and annual budget-to-actual reconciliation process
• Deliver monthly operating reports and other financial and performance reporting to leadership, owners, and financing parties
• Understand project revenue across energy, capacity, and ancillary markets, including BESS dispatch and settlement, and work with Power Marketing to protect and grow it
• Review and negotiate asset management, O&M, LTSA, and other commercial contracts
• Lead the resolution of commercial issues and disputes with counter parties, escalating to Legal as needed
• Lead asset management due diligence for acquisitions and divestitures, and provide analysis for refinancing and asset improvement decisions

Compliance

• Oversee compliance with project agreements, including offtake agreements (PPAs and vPPAs), interconnection agreements, financing documents, leases and lease payments, and permits; keep obligation trackers current and make sure deliverables are met on time
• Manage REC and environmental attribute delivery: register projects in the tracking systems (such as WREGIS, M-RETS, PJM-GATS, and ERCOT), oversee monthly issuance, transfers, and retirements under PPAs and vPPAs, and reconcile REC volumes against generation and…