Associate, M&A

Onward Energy is an independent power platform that owns and operates over 6 GW of utility-scale wind, solar and natural gas generation projects across the U.S. Our vision is to reliably power a sustainable future. As North America’s premier independent power generator, we deliver renewable and reliable power to customers, opportunities to employees, sustainable returns to investors, and a better world to the next generation. Corporate offices are located in Denver, New York, and Charlotte.

About the role

Onward Energy is seeking an experienced Associate to support the growth of our platform through acquisitions, financings, and development of utility-scale renewables, gas, and battery storage projects. You will develop and maintain financial models, prepare investment memos, coordinate due diligence across cross-functional teams, and perform analytical analysis in support of new initiatives. Associates are given meaningful responsibility, direct exposure to senior leaders and transaction decision-making, and opportunities to broaden commercial, financial, and strategic skill sets through hands-on experience.

Responsibilities

• Own the preparation and use of Excel-based financial models for utility-scale power M&A and development activities.
• Analyze investment opportunities from quantitative and qualitative perspectives, including valuation modeling (DCF), financial statement analysis, market/industry research, and competitive analysis.
• Develop internal memos and presentations, including deal investment memos for the Company’s owners, focusing on investment returns and valuation metrics.
• Present financial results and investment recommendations to senior management and owners.
• Assist with raising debt and tax equity for acquisition targets, including creating lender models, structuring third-party capital, ratings agency presentations, and coordinating due diligence.
• Coordinate and assist with the due diligence process from screening through closing, collaborating across functional teams, management, external advisors, and transaction counterparties to drive timely information flow, evaluate findings, and ensure all material diligence insights are reflected in financial models and investment recommendations.
• Support review of transaction documentation and commercial agreements, identifying financial, operational, and valuation implications.
• Provide analytical and modeling capabilities to companywide initiatives, including sales, re-contracting, redevelopment, and other portfolio projects.
• Support the M&A team’s sourcing efforts by maintaining the M&A opportunity pipeline.

Requirements

• Bachelor’s degree in Finance, Business Economics, or other rigorous quantitative discipline (experience may substitute for degree).
• Two or more years of experience in investment banking, project finance, development, or asset management in power and utilities, with a focus on financial analysis.
• Excellent financial modeling skills and strong proficiency in MS Office Suite, including Excel, Word, and PowerPoint.
• Exceptional analytical capabilities, attention to detail, and ability to produce accurate, well-organized, and audit-ready analysis under tight timelines.
• Highly organized under strict deadlines; ability to work on multiple projects concurrently and track requirements, deliverables, and timelines.
• Familiarity with U.S. power markets and eagerness to increase power market knowledge.
• Self-starter with a strong work ethic.
• Strong verbal/written communication and presentation skills.
• Ability to work well independently and as part of a cross-functional collaborative team.
• Experience with agentic AI tools and the ability to develop, adapt, and optimize AI-driven workflows is a plus.
• Familiarity with tax equity financing structures is a plus.

Physical Requirements

• Ability to stand, walk, talk, hear, and see both close and at a distance.
• Ability to sit, climb or balance, stoop, kneel, and/or crouch.
• Ability to lift and/or move up to 10 pounds.
• Ability to travel up to 10%.

The Team

The Onward Energy team is comprised of industry professionals who embrace values of accountability, adaptability, collaboration, and excellence. The M&A team operates in a high-performance environment built on excellence, accountability, and intellectual rigor. Well-supported debate and respectful pushback are encouraged as part of the decision-making process. Associates are expected to contribute thoughtful analysis, independent judgment, and well-reasoned recommendations.

Work Environment

The position functions in a smoke- and vaping-free professional office environment. The role routinely utilizes standard office equipment such as a laptop computer, phone, and scanner/photocopier.

Benefits

Onward Energy offers a comprehensive total rewards package, including market-competitive compensation, health and life insurance, and retirement savings benefits.