(Re-Advert.) Green Finance Specialist (Renewable Energy and Energy Efficiency)
New Delhi
- Organization: GGGI - Global Green Growth Institute
- Location: New Delhi
- Grade: Mid/Senior level - X10
-
Occupational Groups:
- Operations and Administrations
- Banking and Finance
- Environment
- Renewable Energy sector
- Closing Date: Closed
(Re-Advert.) Green Finance Specialist (Renewable Energy and Energy Efficiency)
Purpose
The Green Finance Specialist (with a strong focus on Energy Efficiency and Renewable Energy) will be part of GGGI India team and work on the design, development, and technical support of green and sustainable energy project portfolio of GGGI. With a sound understanding of green/sustainable energy finance products, mechanisms, and programs, the Specialist will help strengthen GGGI’s value proposition in making renewable energy and energy efficiency projects attractive for investments. The task will involve developing business models, financial reengineering, mobilising finance through debt and equity, develop financing vehicles, climate and carbon financing, establishment of infrastructure debt funds and energy. The job also requires engagement with senior government officials, private sector, and leading the discussions with international and local financial institutions. The Specialist will review/draft analytical papers, participate in knowledge sharing programs, and refine/solidify, and expand GGGI’s service offerings related to the sustainable energy and energy efficiency portfolio in India Country Program.
The successful candidate shall demonstrate a sound understanding of investment methods and financing solutions, including ample experience handling a variety of investment instruments in project and corporate finance in both the private sector as well as public sector environments. The candidate must have demonstrable experience of delivering projects in both the public and private sector through all stages of project delivery.
Engagement
The Specialist shall support ongoing and planned GGGI projects such as creation of an Infrastructure Debt Fund, Floating Solar Park / project, Bio CNG, Electric Mobility, Energy Efficiency, Circular Economy, Integrated Resource Planning, Green Hydrogen, Solar Pumps and other activities across GGGI India country operations by engaging with in-house and external experts/organizations to deliver on the project activities, outputs and outcomes.
The Specialist will also lead the engagement with relevant government officials in India, heads of banks/FI’s and other external stakeholders to expand the GGGI energy portfolio. She/he shall also be expected to assist in the development of partnerships with donors, private sector players to ensure environmentally sustainable and inclusive practices and catalyze investment for sustainable green energy projects.
Delivery
In this roles, the Green Finance Lead shall :
- Support the County Representative and Asia Regional Director in the planning and execution of sustainable energy projects in the country.
- Take responsibility as key financial person for providing cutting edge advisory support, take responsibility of project implementation as part of core team, and support energy project origination including proposal writing. Specific areas of delivery under this includes –
- Complexity: expected to handle more complex financial structures and transactions
- Origination: identifies new projects, oversees the processing of new deals
- Project structuring: develops project assumptions and financial projections, structures renewable energy and green infrastructure assets
- Delivery: leads the deal process to bankability and access to finance, including though the application of investment documentation relevant for such project development
Current Sustainable Energy Portfolio
-
Biological Compressed Natural Gas (BioCNG)
GGGI’s Biological Compressed Natural Gas (BioCNG) program objective is to develop a vibrant BioCNG market with focus on three waste streams namely, organic municipal solid waste, wastewater/sewage, and agricultural waste. The technical assistance program will create enabling business environment for the BioCNG, reduce barriers to the recovery and use of BioCNG, and support environmentally sustainable and commercially scalable business models that are targeted for the local conditions. The program is initially targeted for Indonesia, India, and Thailand.
The BioCNG program is intended to support Government of India’s Sustainable Alternatives Towards Affordable Transport (SATAT) Scheme, National Policy on Biofuels, and Swachh Bharat Mission. The program is expected to create enabling business environment for treating organic/agriculture waste, supporting clean energy transition through sustainable source of energy for industrial and transport sector. Through this program the Government intends to build the institutional capacity, address binding constrains, and demonstrate financial viability of BioCNG projects. The program will engage with 10 municipalities covering 3 states to develop business models, conduct pre-feasibility/feasibility studies, and mobilizing green finance for selected projects.
-
Electric Mobility
The transport sector accounts for 18% of total energy consumption in India. This translates to an estimated 94 million tonnes of oil equivalent (MTOE) energy. Under BAU, it is estimated 200 MTOE of energy supply annually, would be required by the year 2030 to meet the demand of this sector. The Government of India’s FAME schemes mandate the adoption of EVs, with a goal of reaching 30% EV penetration by 2030.
GGGI is providing technical assistance to bridge the infrastructure gaps and strengthen the GOI initiative for adoption of E-Mobility in the country. GGGI is implementing EV technical assistance projects in India including in partnership with one of the leading states in South India.
-
Delivery of strategic partnerships
GGGI has entered strategic partnerships with number of key institutions/ organizations in India to deliver on the ongoing projects and other global ambitious targets e.g., GGGI has entered a strategic partnership with International Solar Alliance to implement “1 Million solar pumps initiative” in common member and operation countries across Asia, Africa and the Pacific region.
GGGI-ISA partnership aims to create an enabling ecosystem by reducing or eliminating the existing constraints in large scale deployment of Solar Irrigation Pumping Systems (SIPS). GGGI will provide technical support in collaboration with ISA to the targeted countries which will include leadership engagement, policy advocacy, demand aggregation, price discovery, business models, fund mobilization, capacity and institution building for adoption and scale up of SIPS.
-
Solar Project / Park Program with focus on floating solar
India’s commitment under the Paris Agreement targets to reduce greenhouse gas emission intensity of its GDP by 33-35% below 2005 levels alongside mainstreaming renewable energy (RE) sources to about 40% of India’s power capacity by 2030. In line with these targets, India has set for itself to mainstream 175 GW from RE sources by 2022 of which 100GW will come from solar energy. By 2030, India has set a target of 450 GW. As of 30th April 2021, the total installed RE capacity in the country is 95 GW of which solar accounts for 40 GW. Solar energy has seen the fastest development growth over the last few years with around 10 GW of new utility scale solar projects expected to be commissioned by end of 2021. Most forecast expect that India will reach around 65 GW of solar capacity in the next 2 years as availability of contiguous land, right of way challenges in developing power transmission lines are key concerns which could slowdown growth.
Floating solar could become a key alternative to meet the 100 GW target with India having 18,000 sq km of water surface area that has the potential to generate 280 GW. However, despite being land neutral and lesser rite of way challenges, floating solar is still in early stage of development in India. While development costs could be higher by 15-20% from land based solar projects, robust design to capture generation efficiency gains, access to loss cost financing to offset high project risk are some of the interventions which will help such projects to be financially sustainable and commercially viable to end procurers of power.
GGGI is providing technical assistance to the Government of Madhya Pradesh in developing the 600 MW Floating solar project at Omakreshwar Dam through specific interventions on enhancing the technical and financial bankability of the project and enabling projects developers access to climate/carbon finance to reduce the end use tariffs.
-
RE focused Infrastructure Debt Fund
The project aims to address fundamental challenges infrastructure financing and catalyzing investments in the Renewable Energy (RE) sector in India through a unique investment vehicle – Renewable Energy Focused Infrastructure Debt Fund (RIDF) for accelerated deployment of RE to support India’s transition towards low carbon economy. This is being done in partnership with one of the leading NBFC in India.
-
Low Carbon Buildings Transition
Buildings, particularly space cooling, are the main drivers for the growing future electricity demand and rising GHG emissions in the South and Southeast Asia region like India, Indonesia, Thailand, Vietnam. The building related electricity demand for space cooling in India is estimated to grow more than four times to 585 TWH and in the Association of Southeast Asian Nations (ASEAN) more than 3.5 times to 350 TWH by 2040 from current levels. GHG emissions from the building sector arise from construction of new buildings, production of materials, electricity consumption by appliances and systems.
Building Codes are partly mandatory in some of the project countries for larger buildings but are inadequately enforced. The building codes do not comprehensively cover the carbon footprint of buildings (no comprehensive inclusion of the carbon footprint of building materials, no consideration of refrigerant related emissions from cooling appliances). The building codes and energy management initiatives do not effectively cover the retrofit of existing buildings.
The Asia Low Carbon Buildings Transition (ALCBT) project aims to overcome these barriers and realize the identified mitigation potential. The project will catalyze sectoral transition towards low carbon buildings by introducing and implementing low carbon performance matrix, developing a taxonomy on assessing building carbon performance, and financing low carbon infrastructure for new and renovated buildings.
Requirements
Qualifications
- Minimum of 10 years of relevant professional experience that combines intellectual and managerial leadership in strategic planning, investment methods and financing solutions, including ample experience of handling a variety of investment instruments in project and corporate finance in both the private sector as well as public sector environments with a strong focus in the area(s) of renewable energy, energy efficiency, sustainable development, carbon/climate finance, preferably at the international level.
- 5-7 years of hands-on experience in project finance and /or structured finance in financial institutions (Banks, Non-Banking Financial institution, Equity Funds, DFIs) or financial advisory services with demonstrable understanding of end-to-end transaction cycle.
- Experience of working on developing policies/regulations for Government/Regulators on renewable energy/energy efficiency.
- Experience in carrying out energy audits, energy cost reduction studies, energy efficiency strategy studies for industries, buildings would be added advantage
- For those with experience in Energy Efficiency, qualifications of Certified energy auditor would be preferred.
- Advanced University degree in areas such as international business or economics with further financial/economics training (Master’s in Finance or MBA with Specialization in Finance)
- Hands-on project management experience, an ability to efficiently manage many activities simultaneously and to navigate through complex environments
- Willingness and ability to travel both within India and abroad
- Proficiency in written and spoken English is essential. Other languages a significant bonus.
Functional
- Comprehensive understanding of green growth in the context of developing countries; project finance, private or public sector projects, and/or in PPP transactions in developing and emerging countries; experience with climate and carbon finance and investment banking, equity/debt syndication.
- Good understanding or practical experience working with energy policies, strategies, institutions, and regulations in India.
- Demonstrated knowledge in developing financial business models and financial analysis.
- Good analytical skills and ability to efficiently manage several activities simultaneously.
- Demonstrated experience of working with government officials and financial experts, donor representatives and private sector actors.
- Proven capability to meet deadlines and work under pressure.
Corporate
GGGI needs a person who can bring more than knowledge and passion to the role: someone who has the grit and resilience to do this work, someone who is proactive, dynamic, and able to work together with minimal supervision. The successful candidate is a skillful team member with an ability to interact within and beyond GGGI, a thoughtful communicator, a deep thinker, and a diplomatic change agent who understands the dynamics and tensions in this kind of diverse, global landscape. The Specialist should be:
- Understand and actively supports GGGI’s mission, vision and values.
- Promote the optimum use of public resources
- Promote an organizational culture of trust, transparency, respect and partnership.
- Process and share information easily.
- Manage emotions and stress positively, builds rapport and resolves conflict easily.
- Promote creativity and innovation among staff.
- Be able to lead where needed and provide solutions to project-level challenge.
Child protection – GGGI is committed to child protection, irrespective of whether any specific area of work involves direct contact with children. GGGI’s Child Protection Policy is written in accordance with the Convention on the Rights of the Child.
However, we have found similar vacancies for you: