Commercial Acquisition Manager

$116,300 - $193,600/Yr

Puget Sound Energy - Bellevue, WA

Full-time - Senior

Bellevue, WA

Utilities

About the position

Puget Sound Energy (PSE) is seeking a Commercial Acquisition Manager to join our Energy Resource Development team. This role is pivotal in transforming our utility-scale generation and storage portfolio to meet the evolving reliability and clean energy needs of our customers. As the Commercial Acquisition Manager, you will take ownership of new projects related to offtake structures for renewable and storage assets. Your responsibilities will encompass leading and coordinating all commercial functions, including negotiations, project oversight, cross-functional team management, and securing management approval for the acquisition, divestiture, and restructuring of energy resources, real estate, and distribution assets. In this position, you will develop and implement acquisition and divestiture strategies, evaluate potential transactions, and guide the transaction through commercial negotiations and closing. You will represent PSE's interests in commercial development agreements with external parties, ensuring compliance with safety standards and regulatory obligations. Your commitment to ethical business practices and adherence to PSE's core values and Code of Conduct will be essential in this role. The Commercial Acquisition Manager will lead the resource acquisition RFP process and conduct due diligence on potential transactions, which includes financial feasibility analyses, engineering reviews, operations reviews, environmental assessments, legal reviews, and real estate evaluations. You will oversee negotiations of critical business deals that align with PSE's corporate growth strategy, including acquisitions, development projects, purchase and sales agreements, O&M agreements, real estate agreements, interconnection agreements, and service agreements. Additionally, you will support regulatory affairs by demonstrating the prudence of transactions, which may involve preparing and providing testimony in Washington Utilities and Transportation Commission (WUTC) rate cases. Managing external vendors and ensuring that all conditions for deal closing are met will also be part of your responsibilities.

Responsibilities

• Lead the resource acquisition RFP process and conduct due diligence of potential transactions.
• Oversee and lead negotiations of business deals critical to PSE's corporate growth strategy.
• Ensure that all conditions are met related to deal closing and that transactions are successfully closed.
• Support regulatory affairs in demonstrating prudence of transactions, including preparing testimony for WUTC rate cases.
• Manage external vendors by setting scope, providing direction, and approving work.
• Perform other duties as assigned.

Requirements

• Bachelor's degree in engineering, finance, economics, business administration, or equivalent combination of education and/or work experience.
• 7 years of relevant work experience, with 5 years of increasing responsibility in the utility, oil, gas, or independent power sector.
• Strong business and financial analytical skills with the capability to analyze a wide array of business challenges.
• Demonstrated experience leading and influencing cross-functional teams and stakeholders.
• Excellent verbal and written communication skills, including the ability to document evaluation, due diligence, and negotiation initiatives.

Nice-to-haves

• MBA or related post-graduate degree.
• Understanding of financial and accrual principles.
• Experience with energy deal structuring and tax equity.
• Experience with Project Developer.
• Experience in all stages of project development including acquiring site control, interconnection, transmission, permitting, and construction.

Benefits

• AD&D insurance
• Disability insurance
• Health insurance
• Dental insurance
• 401(k)
• Flexible spending account
• Paid time off
• Cash balance pension plan
• Employee assistance program
• Vision insurance
• Life insurance