Corporate M&A Associate (renewable energies)

Location

Madrid, Spain; Bilbao, Spain

Mission

To support the Corporate M&A team in the execution of Zelestra’s inorganic growth strategy, contributing to the identification, financial analysis, valuation, structuring, and execution of acquisitions in the energy sector, with a strong focus on renewable energy projects and platforms (PV, BESS, and wind). The role provides continuous exposure to senior management and the shareholder EQT, ensuring rigorous financial discipline, robust investment cases, and effective transaction execution.

Responsibilities

Financial Modelling & Valuation

• Build and maintain complex financial models and perform valuation analyses using different methodologies (DCF, trading and transaction multiples, sensitivities, etc.).
• Assess key value drivers, risks, and assumptions underlying each opportunity.

Investment Committee Support

• Prepare high-quality materials for Investment Committees, including:
  • Investment memoranda
  • Company profiles
  • Competitive and market landscape analysis
  • Opportunity presentations
  • Valuation summaries and conclusions
• Support senior team members in structuring investment rationales for decision-making.

Pipeline Management

• Track, update, and maintain the M&A opportunity pipeline.
• Monitor required actions, next steps, and priorities for each opportunity across different transaction stages.

Transaction Execution

• Prepare non-binding offers (NBOs) and binding offers (BOs) for acquisition opportunities.
• Support transaction negotiations by providing financial, analytical, and structural inputs.

Due Diligence Management

• Support the end-to-end management of due diligence processes across opportunities.
• Coordinate the selection and workstreams of internal and external advisors (financial, legal, tax, commercial, technical, etc.).
• Analyse due diligence findings and reflect conclusions in valuation, risk assessment, and transaction structure.

Opportunity Origination

• Identify and analyse acquisition opportunities involving renewable energy projects and portfolios (PV, BESS, wind), both greenfield and brownfield.
• Screen and assess renewable project development companies as potential acquisition targets.

Transaction Documentation

• Review and analyse transaction documentation, including SPAs, Development Services Agreements, and other relevant contractual documents.
• Coordinate comments and inputs with Legal, Finance, and other internal stakeholders.

Job Requirements

• Bachelor’s degree in Business Administration with specialization in Finance, or Engineering.

• 3–6 years of experience in Corporate Development, Corporate Finance, Investment Banking, Private Equity, or Infrastructure Funds, within the energy sector, preferably renewable energy.
• Advanced financial modelling and valuation (DCF, multiples, sensitivities).

• Strong knowledge of corporate finance, accounting, and M&A transaction documentation (NBO, BO, SPA).
• Solid understanding of Project Finance and key renewable project contracts.
• Strong knowledge of the power and renewable energy sector (PV, BESS, wind).
• Strong written and verbal communication skills in Spanish and English, including the ability to summarize complex financial issues clearly.
• Expert proficiency in Excel (incl. advanced VBA) and strong command of PowerPoint and Word.
• Strong analytical thinking and exceptional attention to detail.
• Ability to structure complex information and communicate it clearly.
• Strong written and verbal communication, including executive presentations.
• High learning agility and problem-solving mindset in complex transactions.
• Proactive, collaborative attitude with the ability to work with senior stakeholders and advisors.

What we offer

• Career opportunities and professional development in a growing multinational company with a highly qualified team.
• Permanent contract.
• Flexible compensation.
• Full working day.
• Smart working 2 days a week.

Zelestra celebrates the diversity of thought and experience that comes from a variety of backgrounds including, but not limited to, gender, age, ethnicity...

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