Senior Associate/Manager, Investments

The posting

Company Overview

Treaty Oak Clean Energy (Treaty Oak) is a utility-scale clean energy platform headquartered in Austin, Texas, focused on developing, commercializing, constructing, and operating utility-scale solar plus battery storage projects in targeted U.S. energy markets. Our mission is to create a sustainable future by providing clean, low-cost energy solutions to the grid, benefiting energy consumers, communities, and generations to come.

Treaty Oak features an experienced management team with a track record of developing and commercializing 10 GW+ of utility-scale power projects and a collective 100+ years’ experience across critical competencies, including power markets, offtake structuring, design, engineering and real estate, with such expertise being put towards our 15+ GW portfolio of utility-scale renewable energy projects across the U.S., including 485 MW of in-construction and operational projects.

Treaty Oak is a wholly-owned portfolio company of Macquarie Asset Management (Macquarie), one of the world’s largest infrastructure managers with $600 billion under management, pairing Treaty Oak’s renewables development expertise with Macquarie’s capital backing and global leadership in advancing the energy transition.

Summary

Treaty Oak is hiring an investments professional at the Senior Associate or Manager level, with the level determined by experience. This individual will be a key team member responsible for supporting Treaty Oak's investment decision-making process across its portfolio of utility-scale solar and battery energy storage projects, working across the full project lifecycle, from early-stage development diligence through Final Investment Decision (FID) and into construction and operations, alongside internal cross-functional teams and Macquarie to drive rigorous, well-supported investment recommendations.

The role will build and maintain complex financial models, support due diligence work streams, analyze regulatory and market risks, support interconnection and offtake strategy, and prepare investment materials for internal and Sponsor-level approvals. At the Manager level, the role takes ownership of these workstreams and manages junior team members. The position joins the current team of 10 project finance and M&A professionals. A Senior Associate will report to a Manager, Investments; a Manager will report to the Chief Investment Officer.

For this high-growth opportunity role, Treaty Oak is seeking a professional with 3+ years of experience in infrastructure private equity, investment banking, or project finance, with strong hands-on financial modeling skills and a working knowledge of renewable energy project fundamentals, tax equity structures, and the regulatory, interconnection, and power market dynamics that drive investment outcomes in the utility-scale solar and BESS sectors.

Key Responsibilities (All Levels)

· Support the preparation of investment memoranda, FID packages, and supporting materials for internal Investment Committee and Macquarie approval processes

· Build, maintain, and quality-control fully structured project financial models to analyze project, partnership, and sponsor-level economics for solar and BESS projects; synthesize key findings and sensitivities for review by senior management and the Sponsor

· Prepare marketing materials (e.g., teasers and CIMs) for internal and external stakeholders / financing processes

· Review and analyze third-party reports (e.g., IE, transmission, market, insurance, tax projections, and ITC cost segs) and project documentation (e.g., PPAs, EPC agreements, GIAs, equipment supply agreements, and O&M contracts) to accurately determine and integrate assumptions into financial models

· Support external platform-level capital raising processes, including coordinating with advisors, investors, and third-party diligence reports to aid in the timely execution of key financing workstreams

· Coordinate due diligence work streams across legal, tax, insurance, environmental, engineering, and market consultants, supporting the timely and accurate integration of third-party findings into investment recommendations

· Analyze regulatory compliance matters affecting project economics and eligibility, including FEOC/PFE rules, IRA tax credit requirements (ITC/PTC, domestic content, energy community), Safe Harbor strategies, and trade policy

· Monitor and assess interconnection queue dynamics, network upgrade cost exposure, and milestone risks across MISO, ERCOT, PJM, and other relevant ISOs/RTOs; collaborate with the Interconnection team to support go/no-go and capital allocation decisions

· Support the Development, Engineering, and Procurement departments on early-stage evaluation of potential project designs, equipment selection, financing structures, and key economic drivers (e.g., DC:AC ratios, degradation assumptions, tax abatements)

· Provide informal mentorship and guidance to Analysts on the investments team

· Communicate and build relationships effectively with both internal teams and external stakeholders

At the Manager level, the following responsibilities are added:

· Lead the preparation of investment memoranda, FID packages, and approval materials, and communicate key findings and sensitivities directly to senior management and the Sponsor

· Own the development and quality control of fully structured project financial models, including review of models built by junior team members

· Procure and scrutinize third-party reports and project documentation, and determine the assumptions used in investment recommendations

· Manage and coordinate external platform-level capital raising processes with advisors, investors, and third-party diligence providers

· Manage due diligence work streams across legal, tax, insurance, environmental, engineering, and market consultants

· Evaluate and advise on regulatory compliance matters, and inform go/no-go and capital allocation decisions with the Interconnection team

· Manage, mentor, and provide guidance to junior team members

Education and Qualifications (All Levels)

· 3+ years of experience in infrastructure private equity, investment banking (M&A, project finance, or tax equity), or project finance, ideally with exposure to utility-scale renewable energy or power transactions

· Advanced Microsoft Excel & PowerPoint skills, with strong knowledge of Microsoft Excel formulas, financial model creation and best practices; familiarity with typical project finance macros / VBA code a plus

· Knowledge of renewable energy (solar and storage) project economic drivers and related tax incentives

· Familiarity with current tax credit monetization structures (e.g., partnership flips, credit transfers, hybrid, and accommodation partner / preferred equity structures) and construction-to-term debt financing, with the ability to support the economic modeling of such structures

· Comfort working in a demanding, deal-oriented team with recurring deadlines

· Experience supporting the preparation of investment memoranda, board materials, and financing marketing materials (teasers, CIMs) for sophisticated institutional audiences

· Outstanding critical thinking skills, inquisitiveness, and resourcefulness / ability to work independently

· Ability to dynamically prioritize various tasks and meet assigned deadlines in a fast-paced and ever-changing environment

· Familiarity with interconnection processes, power market fundamentals, and the regulatory landscape affecting utility-scale renewables

· Experience supporting due diligence processes, external consultants, and data rooms for project-level or portfolio-level transactions

At the Manager level, candidates will also bring:

· 5+ years of relevant experience, including ownership of financial models on closed utility-scale renewable energy or power transactions

· Exceptional Microsoft Excel skills, including comfort understanding typical project finance macros / VBA code

· Ability to independently model tax credit monetization structures and construction-to-term debt financing

· Experience leading the preparation of investment memoranda, board materials, and financing marketing materials for sophisticated institutional audiences

· Experience managing due diligence processes, external consultants, and data rooms for project-level or portfolio-level transactions

· Experience managing or mentoring junior team members

Our Values

These five fundamentals guide how we achieve value:

· Integrity: We do what we say we are going to do.

· Collaboration: We know that we are better together.

· Ambition: We embrace challenge and excellence.

· Adaptability: We find solutions and never quit.

· Safety: We effectively identify and manage risk.

Employee Benefits

· The salary for this position is highly competitive and commensurate with experience

· We offer competitive benefits, including unlimited paid time off, paid holidays, cell-phone stipend, 401K and a fully paid health benefits plan for employees, including Medical, Dental, and Vision.

Treaty Oak is an equal opportunity employer. We celebrate diverse backgrounds and thoughts and welcome everyone to apply for employment with us. We are committed to fostering an environment that is inclusive, transparent, and collaborative. Mutual respect is central to how Treaty Oak operates, and we believe the best solutions come from diverse perspectives, experiences, and skills. We embrace our differences and know that we are stronger working together.