Cim Group - Los Angeles, CA
posted about 2 months ago
The Director, Power Marketing and Origination at CIM Group will play a pivotal role in managing and reporting on the company's portfolio positions in electricity markets. This position requires a deep understanding of electricity markets and regulations, as well as the ability to develop and maintain relationships with Power Purchase Agreement (PPA) off-takers. The successful candidate will be responsible for optimizing revenue from each asset by securing PPAs and managing the trading strategy for any uncontracted portions. This includes overseeing the contracting program and energy bidding strategy to ensure revenue goals are met or exceeded as outlined in the operating budget. In addition to revenue optimization, the Director will lead the negotiation of Power Purchase Agreements and confirmations, evaluate and modify bidding strategies for CAISO day-ahead, real-time, and ancillary services markets to maximize merchant revenues, and mitigate associated risks. The role also involves maintaining relationships with key power off-takers, identifying RFT and RFP opportunities, and managing responses to RFPS. The Director will liaise with the Investments (Structured Finance) team to ensure full integration of offtake structures into financial models and maintain ownership of power price forecasts while keeping abreast of utility IRPs, state RPS mandates, and other regulatory trends. The position requires excellent communication skills for reporting operational activities to various stakeholders, including partners, contractors, and governmental agencies. The Director will also support Asset Operations to ensure compliance with project agreements and recommend appropriate risk approaches to stakeholders. This role demands strong analytical skills to assess the financial impact of energy production and maintain historical power price data. The Director will work closely with investment, accounting, and legal teams to prepare and submit all required financial deliverables, while also developing and managing a 12X24 production schedule. Maintaining industry relationships with suppliers, offtakers, energy consultants, and regulatory agencies is essential for success in this role.