Requirements
Position Overview
We are seeking a high-caliber Head - Finance (Hydro) to lead the financial operations for our energy assets currently under construction. You will act as " and strategic guardian of project margins, ensuring that capital is deployed efficiently, risks are mitigated, and all lender/investor obligations are met with 100% precision.
Roles and Responsibilities
1. Financial Planning, Budgeting & Forecasting
• Drawdown Management: Coordinate with lenders to ensure debt tranches are available just-in-time for EPC milestones.
• IDC Tracking: Monitor Interest During Construction (IDC) to ensure it stays within the capitalized cost budget.
• Equity Control: Ensure shareholder equity is injected as per the funding hierarchy to trigger debt disbursements.
2. Contract & Construction Billing Management
• EPC Milestone Verification: Verify contractor claims against physical site progress and independent engineer reports before payment release
• EPC Invoice Verification: Act as the final financial gatekeeper for EPC contractor IPCs (Interim Payment Certificates).
• Variation & Change Orders: Proactively analyse the financial impact of site variations on the project’s long-term Equity IRR.
• Retention & DLP Management: Manage the deduction and accounting of "Retention Money" and Liquidated Damages (LDs) for underperformance.
3. Debt Service & Facility Management
• Facility Agreement Compliance: Ensure all interest payments and fees are executed as per the Facility Agreement.
• Covenant Monitoring: Proactively track financial ratios (DSCR, Debt-to-Equity) to prevent any "Events of Default".
• Drawdown Accuracy: Proactively manage the documentation for loan utilization requests to ensure zero rejection by the Escrow/Lender bank.
• Reserve Funding: Ensure the Debt Service Reserve Account (DSRA) is fully funded prior to COD.
4. Cash Flow & Working Capital Management
• Waterfall Mechanism: Manage the Trust & Retention Account (TRA) to ensure funds follow the mandated legal hierarchy.
• Liquidity Oversight: Maintain an optimal cash runway to sustain construction without project stalls.
5. Taxation, Statutory & Regulatory Compliance
• Tax and Statutory Compliances: 100% adherence of tax and other statutory compliances.
• Regulatory Claims: Track and file "Change in Law" or "Deemed Generation" claims with Energy Commissions.
6. Banker & Investor Relations
• Reporting: Deliver comprehensive monthly construction progress dashboards and quarterly compliance certificates to lenders/investors.
• Lender Compliance Reporting: Prepare and certify quarterly compliance packs, ensuring all financial covenants (Debt-to-Equity, etc.) are monitored proactively.
• Audit Coordination: Lead the financial interface for the Lender’s Independent Engineer (LIE), Lenders’ financial consultants, and statutory auditors.
7. Proactive Record Management & Bookkeeping
• Clean Ledger Maintenance: Oversee daily bookkeeping to ensure accurate categorization of CAPEX (Civil, Electrical, Mechanical) vs. OpEx.
• Document Hygiene: Proactively initiate and manage a digital "Golden Thread" of records, ensuring every voucher is supported by site photos, MB (Measurement Book) entries, and inspection reports.
• Fixed Asset Register (FAR): Build the project’s FAR from scratch during construction to ensure seamless depreciation tagging post-COD. 8. Financial Reporting & Governance (R2R)
• Project Health Dashboards: Design and deliver monthly "Construction vs. Budget" reports for the Board and Investors.
• Closing Excellence: Lead the monthly and quarterly "Hard Close" process, ensuring accruals for work-in-progress are verified by site engineers
Qualifications
• Experience: 5+ years in Construction Finance, specifically within the Energy/Infrastructure sector.
• Technical Expertise: Deep understanding of Project Finance Waterfall mechanisms, Debt Service requirements, and EPC contract financial clauses
Required Skills
• Accounting Standards: Proficiency in Percentage of Completion (PoC) accounting and Asset Capitalization.
• Regulatory Knowledge: Familiarity with PPA (Power Purchase Agreement) terms and Energy Regulatory Commission filings.
• Soft Skills: Strong negotiation skills for banker/investor relations and the ability to lead site-based finance teams.