Company Description
Masdar is the UAE’s clean energy champion and one of the largest companies of its kind in the world, advancing the development and deployment of renewable energy and green hydrogen technologies to address global sustainability challenges. Established in 2006, Masdar is today active in over 40 countries, helping them to achieve their clean energy objectives and advance sustainable development.
Masdar is jointly owned by Abu Dhabi National Oil Company (ADNOC), Mubadala Investment Company (Mubadala), and Abu Dhabi National Energy Company (TAQA), and under this ownership the company is targeting a renewable energy portfolio capacity of at least 100 gigawatts (GW) by 2030 and an annual green hydrogen production capacity of up to 1 million tonnes by the same year.
Job Description
Purpose for the role:
To manage and optimise the returns of offshore wind assets throughout the operations phase of their lifecycle. Drive value through operational, financial, and technical levers, whilst ensuring adherence to appropriate governance and QHSE standards. This will involve challenging, supporting, and in many cases leading workstreams to seize improvement opportunities and mitigate risks. To cultivate strong relationships with key partners and stakeholders, exert influence and oversight, and represent Masdar's interests in various joint venture projects. To provide asset management expertise to projects under development and during M&A processes
Asset Management:
- Manage the assigned assets proactively from operational, commercial/ financial, technical angles to optimize value and returns
- Monitor the performance of the assigned assets and exert influence and control to drive improvement
- Manage and update stakeholders proactively on the performance of the assigned asset portfolio
- Identify relevant risks at early stage and communicate mitigation proposals
- Manage key contracts relating to the asset e.g. Operating & Maintenance (O&M) contract, Power Purchase Agreement (PPA) & Financing Agreements or alike
- Contribute to the implementation, maintenance, and improvement of an Asset Management System which is consistent with ISO 55001
Financial valuation and management of debt:
- Manage and update the financial models relating to the assigned assets
- Manage and optimize HoldCo debt and ensure compliance with lenders’ requirements, in line with Masdar’s relevant structured finance procedures
- Ensure that valuations for assigned assets are up to date and accurate
Reporting on operating assets and preparation of investment decision materials:
- Compile operational and financial updates for operating assets assigned
- Update line management and Masdar’s appointed board members (as appropriate) on recent developments and future outlook of the operating assets
- Put together material and analysis required and present cases to decision makers as necessary under the Masdar Delegation of Authority
Development and tracking of annual budgets:
- Develop annual budgets for assigned assets in coordination with relevant team members
- Analyse key drivers and set and monitor KPIs to track performance against target and report on deviations if any
- Review and assess annual O&M budgets for assigned assets by analysing and commenting on the key value drivers
Coordination with Technical & Engineering / Commercial teams:
- Ensure technical / engineering teams are involved in relevant workstreams on operating assets
- Coordinate route to market strategies with the Commercial function to maximize revenues Appointments to governance roles in the assets
Represent Masdar’s interests at Advisory / Operational Committees at SPV level as assigned:
- Ensure that decisions are taken in due form and representing the interest of Masdar Cooperation with Business Development and M&A teams
- With a whole lifecycle mindset, advise the Business Development and M&A teams on asset management related topics to enhance investments and ensure Asset Management can deliver against its mandate
- Manage handovers of operational assets into Asset Management Strategic exits
- With support from the line manager, review and evaluate exit strategies for assigned assets to maximize returns to Masdar
- Prepare necessary documentation and analysis to enable informed decision making
Comply with information security policies, procedures and requirements at all times:
- Adhere to any applicable Masdar information security policies and procedures and identify and report security incidents and suspected weaknesses to the appropriate point(s) of contact.
- Protect assets under care (e.g. laptops and other devices) and information/credentials against unauthorized access, sharing, and/or damage/loss, in accordance with the Information Classification and Handling Procedure.
- Clear desks of all sensitive material and log off/ lock workstations at the end of the day and when leaving desk for a prolonged period in accordance with Acceptable Usage Policies.
- Ensure not installing, copying or modifying of any software on Masdar equipment without authorization.
The job holder manages multiple workstreams that are assigned to him/her including the management of operational assets. Assets are usually large in both value and complexity and are of international scale
Qualifications
Preferred Qualifications:
- Bachelor’s degree in a relevant field such as business administration, finance, economics, engineering or equivalent with preferably
- Master’s degree, Chartered Financial Analyst certifications will be welcome
Preferred Experience:
- Minimum 7 years of relevant experience in commercial asset management, contract negotiations, stakeholder management, cost optimizations, financial analysis (and basic modelling), independent execution of due diligence work and investment appraisals in offshore wind
- Previous work for a leading offshore wind developer or investor
- Experience executing Asset Management / O&M activities and / or managing contractors on site for an offshore wind farm / portfolio is a plus
- Experience in / with management consulting, engineering firms or investment banking is a plus
Job-Specific Skills:
- Excellent MS word / excel and power point skills
- Excellent communication skills, both written and verbal
- Good negotiation skills
- Good financial modelling and strong analytical skills
- Strong knowledge of tools and systems used in asset management
- Good understanding of governance principles
- Proven ability to manage and prioritize multiple on-going projects
- Ability to identify key value drivers and risks A team player with first hand experiences managing teams
Additional Information
Masdar is one of the world’s fastest growing renewable energy companies and a green hydrogen leader, placing the UAE at the forefront of the energy transition.
As a pioneer in advancing the clean energy sector and a key enabler of the UAE’s vision as a global leader in sustainability and climate action, Masdar has developed projects in more than 40 countries across six continents and has invested, or committed to invest, in worldwide projects with a combined value of more than US$30 billion.
Masdar unites the UAE’s three energy champions – Mubadala, ADNOC and TAQA – and will utilize their combined expertise to fulfill its purpose as a global clean energy pioneer across renewables and green hydrogen.
Promoting innovation in solar, wind, energy storage, waste-to-energy, and geothermal energy, Masdar has a proven record of delivering pioneering projects using cutting-edge clean energy technologies, that are commercially viable and bankable.
As part of the application process, we will collect, store and process personal information about you.
Masdar will use your personal information in accordance with our
Candidate Privacy Notice, which provides details on the purposes for which your data is processed.
