Renewable Energy Finance Specialist - Jamaica

Tetra Tech is Leading with Science® to implement clean energy projects and policies that advance global climate and decarbonization goals. We advise on national energy transition initiatives and structure finance to deploy clean energy solutions. We help create sustainable utilities and modern power grids. We promote equality and inclusivity in the global energy sector. We improve lives and livelihoods in the biggest cities and smallest villages, and at the intersection of energy-health and energy-water-food.

Through the Scaling Up Renewable Energy (SURE) program, USAID and Tetra Tech help partner countries power economies, meet international climate commitments, and strengthen energy security via private investment in, and competitive procurement of, clean electricity. USAID is supporting the Government of Jamaica in planning and executing renewable energy (RES) and battery storage (BESS) auctions to achieve its target of 50 percent renewable energy in the electricity sector by 2030. 

We are seeking an experienced Renewable Energy Finance Specialist to support the planning and execution phase of an upcoming auction. The successful candidate must be based in Jamaica or be able travel to Jamaica for occasional work meetings. Tetra Tech values a diverse workplace and strives to achieve gender equality.  

The Specialist will:

• Auction Planning Phase:
  • Attend meetings with Jamaica’s Generation Procurement Entity (GPE) and GPE assigned professionals to support with technical knowledge on renewable energy finance.
  • Review technical studies conducted by third parties related to renewable energy finance.
  • Evaluate external comments on GPE's Proposed Transaction Structure and Jamaica’s Integrated Resource Plan (IRP-2) related to renewable energy finance.
  • Review draft bidding documents (RfP, PPA, Interconnection agreement) with a focus on risk management.
  • Review of regulatory requirements for energy storage with a focus on risk management.
  • Review evaluation criteria and methodology for the ranking of bidders’ proposals and make recommendations for improvements to future procurement processes.
  • Support the preparation of communication materials for stakeholders for the auction launch with technical knowledge.
• Auction Execution Phase
  • Attend bid evaluation team meetings. The Specialist shall function as a member of a bid evaluation team complemented by GPE assigned professionals.
  • Participate in the orderly receipt of proposals submitted to the GPE.
  • Verify information submitted by applicants.
  • Write to Bidders for clarifications where necessary in accordance with the provisions of the RfP.
  • Review proposals to determine responsiveness to the RfP and advise on proposals which are not substantially responsive, outlining the basis for such.
  • Review and comment on documentation from relevant government and statutory organizations in connection with approvals and permits for construction and licensing of projects.
  • Review commitment letters from the financiers supporting the bidders’ offers and comment on the reasonableness of the terms and conditions.
  • For each proposal, review the proposed capital structure and shareholders agreement, and determine the likelihood of investors being able to provide scheduled equity payments (from existing resources, bank credits or other sources).
  • Examine bidder’s tariff model for each proposal in terms of validation and compliance with RfP requirements and determine if tariffs proposed are reflective of project costing and operating and maintenance requirements over project PPA term.
  • Review and comment on proposed project implementation schedule.
  • Carry out economic comparison of bids based on project parameters and costs and select Proposal(s) that will best contribute to system reliability and security at lowest economic cost.
  • Rank selected proposals and outline the basis for such rankings.
  • Contribute to the preparation of a detailed bid evaluation report.
  • Assist in presenting the bid evaluation outcomes to the GPE management and stakeholders.

Minimum Qualifications Required

• A master’s degree in finance, accounting, economics or similar.
• At least 10 years of experience in company credit risk evaluation, including financial model auditing.
• Understanding of renewable energy project finance and electricity regulation.
• Strong project management and coordination skills.
• Fluency in the English language with excelling verbal and written reporting and communication skills.

Preferred but Not Required Qualifications

• Experience with evaluation of financial/economic proposals in electricity competitive tenders will be considered an asset.
• Knowledge of relevant legislation and regulation relevant to Jamaica’s electricity sector is an asset.
  
• Experience with the financial modelling and risk analysis of utility-scale BESS projects.
• Familiarity with working on donor-funded projects.

Please note that this call for the Renewable Energy Finance Specialist is an ongoing expression of interest and not a direct employment opportunity. Interested Specialists will be engaged as short-term, specialized needs arise.

To submit your interest, please utilize the “Apply with LinkedIn” option.