The posting
At Canadian Solar, our vision is to make lives better by bringing electricity powered by the sun to millions of people worldwide. As a leading manufacturer of solar panels, inverters, and energy storage solutions, we've been an industry front-runner since our founding in 2001. Our commitment to sustainability is reflected in all parts of our organization as we navigate the complexities of a booming industry.
Throughout Canadian Solar's subsidiaries, e-Storage, Recurrent Energy, MSS and CSI Solar Co., we invest in our employees' growth. Our training programs and promotional opportunities ensure we all can continue to learn. We understand the importance of work-life balance and provide various flexible work options to support our employees' well-being. Join our team to "Make the Difference" by creating a lasting positive impact on the world and the communities where we operate.
Company Summary
Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc. and is one of the world's largest and most geographically diversified utility-scale solar and energy storage project development, ownership, and O&M platforms. Recurrent Energy is focused on bringing low-cost clean energy and meaningful economic development to communities across the globe.
Position Title: Portfolio Manager, Finance
Department: Asset Management
Reports To: Senior Finance Director, Asset Management
Location: Kitchener Ontario
Position Summary
We are seeking a Manager to join the Asset Management team at Recurrent Energy, a subsidiary of Canadian Solar. This team member is responsible for the financial administration, monitoring, and execution of construction financing activities across a portfolio of solar and battery energy storage projects. This role oversees the review, reconciliation, and coordination of construction loan draws, ensuring compliance with financing agreements, project budgets, and internal controls.
The successful candidate will serve as a key liaison between Project Management, Treasury, Accounting, Project Finance, lenders, independent engineers, and external stakeholders to facilitate timely construction loan draws, maintain financial accuracy, construction progress reporting and overall agreement compliance. The role requires strong analytical skills, attention to detail, and experience managing project finance and construction budgets within renewable energy or infrastructure environments
Key Responsibilities
Construction Loan Draw Management
- Lead the review, validation, and submission of construction loan draw requests for solar and battery storage projects.
- Coordinate the collection and validation of supporting documentation, including invoices, pay applications, contracts, change orders, lien waivers, and budget updates.
- Ensure draw requests comply with financing agreements, lender requirements, and internal controls.
- Coordinate with lenders, administrative agents, independent engineers, and legal teams throughout the draw approval process.
- Track funding status and ensure timely receipt and application of loan proceeds.
Budget Monitoring and Financial Reconciliation
- Reconcile project budgets against actual expenditures and committed costs.
- Monitor construction spending and forecast cash requirements throughout the project lifecycle.
- Identify budget variances and collaborate with Project Management and Accounting to investigate and resolve discrepancies.
- Review contingency usage, change orders, and cost reallocations to ensure appropriate approvals are obtained under the financing agreements.
- Maintain accurate cash flow forecasts.
Cross-Functional Coordination
- Partner closely with Project Managers to monitor project construction progress, milestone achievement, loan and tax equity and EPC contract outside dates, budget performance and payment timing.
- Coordinate with Treasury to support liquidity planning, draw package creations, and funding requirements.
- Coordinate with Project Finance to proactively get ahead of any forecasted non-compliance or draw stops under the financing agreements.
- Identify and coordinate lender amendment and waiver requests in concert with the Project Finance and legal teams
- Work with Accounting to ensure proper recording of project costs, loan transactions, interest capitalization, and balance sheet reconciliations.
- Facilitate communication among internal and external stakeholders regarding the funding activities.
- Support monthly financial reporting requirements.
Portfolio Oversight and Reporting
- Maintain comprehensive reporting on project budgets, construction progress, funding utilization, and lender compliance.
- Track compliance with debt covenants, financing conditions, and reporting obligations.
- Develop and enhance financial controls, processes, and reporting tools to support operational efficiency.
Risk Management and Compliance
- Identify financial, operational, and compliance risks affecting project execution and financing agreements.
- Ensure adherence to internal policies, lender requirements, and contractual obligations.
- Support audits related to construction financing activities.
- Maintain complete and organized documentation for all draw processes.
Requirements
- 5+ years of relevant experience - project finance, portfolio management, construction finance, renewable energy, or a related discipline.
- Bachelor's degree or equivalent work experience.
- Experience managing construction loan draws, project budgets, and lender reporting requirements.
- Strong understanding of financial statements, budgeting, cash flow forecasting, and financial controls.
- Advanced proficiency in Microsoft Excel, Work, PowerPoint and financial analysis.
- Excellent organizational, communication, and stakeholder management skills.
- Ability to manage multiple projects and deadlines in a fast-paced environment.
- Attention to detail
- Preferred experience in renewable energy, solar, battery energy storage systems (BESS), power generation, or infrastructure projects.
- Experience working with construction lenders, tax equity investors, and project finance structures.
- Experience with ERP systems and project management software.
Recurrent Energy is an Equal Opportunity Employer (EOE). Qualified applicants are considered for employment without regard to age, race, color, religion, sex, national origin, sexual orientation, disability, or veteran status.
