pHybrid working model, with regular presence in Milan and close interaction with the Sky Distributed Energy team and our local platform businesses in Italy and Portugal.
/p pThe role will require regular travel, particularly within Italy and to Portugal, as well as occasional travel to other European markets.
/p h3Company Context /h3 pSky Distributed Energy is a pan-European distributed energy business backed by bSky /b, a renewable energy fund managed by bOctopus Energy Generation /b.
/p pWe develop, finance, own and operate decentralised energy assets across Europe, working through local operating platforms including bCoralsun in Italy /b and bSparkWave Energy in Portugal and Spain /b.
Our activities span behind-the-meter solar, small-scale distributed generation, battery storage and other energy-transition solutions for commercial and industrial customers.
/p pAs the business grows, acquisitions of third-party projects and portfolios are becoming an increasingly important complement to our internally developed pipeline.
These opportunities range from individual or portfolios of bReady-to-Build ("RtB") projects /b through to operating renewable-energy assets, including behind-the-meter projects, Portuguese UPP portfolios and portfolios of Italian FER X projects.
/p pTo support this strategy, we are looking for a bMA Associate – Southern Europe /b who can help originate, assess and execute these transactions alongside our local platforms and the wider Sky Distributed Energy investment team.
/p h3Role Purpose /h3 pThe MA Associate will be a core member of Sky Distributed Energy's investment capability in Southern Europe, with an initial focus on bItaly and Portugal /b.
/p pThe role will work closely with the bHead of Investments /b and the management teams of Coralsun and SparkWave to execute acquisitions of renewable-energy projects and portfolios from initial screening through due diligence, investment approval, negotiation and closing.
/p pThis is a hands?on transaction role.
The Associate will be expected to bown the financial model and transaction analysis /b, coordinate due diligence workstreams, manage advisors and counterparties and help local platform teams navigate acquisition processes efficiently.
/p pGiven the distributed nature of the assets we acquire, an important part of the role will be applying institutional investment discipline bpragmatically and proportionately /b.
A portfolio of sub-1MW projects should receive robust diligence, but the process should not simply replicate the cost and complexity of acquiring a 500MW utility-scale project.
The Associate will therefore help develop repeatable acquisition processes, identify the issues that genuinely drive value and risk, and focus internal and external resources accordingly.
/p pThe role should suit a highly analytical and commercially minded person who wants significant transaction responsibility early in their career and is excited by the opportunity to operate on the principal / buy?side within a fast?growing renewable?energy business.
/p h3Key Responsibilities /h3 ul liSupport and increasingly bmanage acquisition processes from initial assessment through signing and completion /b.
/li liCoordinate transactions involving RtB, construction?stage and operational distributed?energy assets, initially primarily in Italy and Portugal.
/li liManage transaction timetables, information requests, data rooms, due diligence trackers, advisor workstreams and internal responsibilities.
/li liAct as a day?to?day point of coordination between Sky Distributed Energy, Coralsun, SparkWave, sellers and external advisors.




/li liIdentify key transaction issues early, elevate them appropriately and drive them towards resolution.
/li liSupport negotiation of Heads of Terms, exclusivity arrangements and transaction documentation alongside internal and external legal counsel.
/li liMaintain clear visibility over open items, conditions precedent, approval requirements and closing deliverables.
/li /ul h3Financial Modelling and Valuation /h3 ul libOwn and maintain financial models /b for project and portfolio acquisition opportunities.
/li liTranslate technical, commercial, regulatory and contractual inputs into robust investment cases.
/li liAnalyse project cash flows, investment consideration, development premium, operating performance, tax assumptions and expected investment returns.
/li liPerform valuation analysis for operating assets and RtB portfolios using appropriate methodologies.
/li liRun sensitivities and downside cases to identify key value drivers and investment risks.
/li liReview and challenge vendor models and assumptions rather than relying solely on third?party analysis.
/li liEnsure transaction models are transparent, well documented and capable of being efficiently updated throughout a transaction.
/li liSupport the continued development of standard acquisition models and valuation tools across Sky Distributed Energy.
/li /ul h3Due Diligence and Investment Risk /h3 ul liCoordinate financial, commercial, legal, tax, technical, ESG and development due diligence, working closely with internal specialists and external advisors.
/li liHelp define bproportionate due diligence scopes /b based on transaction size, complexity, development status and risk.
/li liWork with Coralsun and SparkWave to ensure information provided by sellers is complete and transaction?ready.
/li liCritically review advisor findings and distinguish genuinely material investment risks from lower?value diligence observations.
/li liTranslate due diligence findings into valuation adjustments, contractual protections, conditions precedent or other appropriate mitigants.
/li liEnsure key risks, assumptions and outstanding actions are clearly documented and understood before investment approval.
/li liDevelop reusable DD checklists and transaction playbooks for recurring acquisition types such as UPP and FER X portfolios.
/li /ul h3Investment Papers and Internal Approvals /h3 ul liPrepare high?quality investment papers, transaction summaries and approval materials.
/li liPresent financial analysis, valuation, sensitivities, transaction structure, key risks and due diligence conclusions clearly and concisely.
/li liCoordinate inputs from investment, platform management, development construction, legal, tax, ESG, asset management and finance teams.
/li liEnsure investment materials focus decision?makers on the issues that matter rather than reproducing the entire due diligence exercise.
/li liTrack approval conditions and ensure they are closed or appropriately reflected in transaction documentation.
/li liSupport responses to questions from Sky Distributed Energy management, Boards and the Octopus Energy Generation investment team.




/li /ul h3Transaction Structuring and Documentation /h3 ul liSupport the assessment of alternative transaction structures, including share purchases, asset purchases, project?right acquisitions, deferred consideration and milestone?based payments.
/li liWork with legal and tax advisors to understand the implications of transaction structures and identify commercially workable solutions.
/li liReview key commercial provisions in transaction documentation and ensure they are consistent with the financial model and investment case.
/li liSupport negotiations around purchase price mechanisms, development milestones, warranties, indemnities, guarantees and completion conditions.
/li liAssist with transaction closing and subsequent handover of acquired projects to development, construction or asset?management teams.
/li /ul h3Opportunity Assessment and Market Support /h3 ul liSupport screening and prioritisation of inbound acquisition opportunities.
/li liPrepare rapid initial assessments of portfolio quality, valuation and strategic fit to determine whether opportunities merit further work.
/li liWork with local platform management to identify attractive acquisition themes and counterparties.
/li liSupport selected market mapping and origination exercises across Southern Europe.
/li liBuild understanding of local renewable?energy frameworks and their impact on project economics, particularly in Italy, Portugal and Spain.
/li /ul h3Technology, AI and Process Improvement /h3 pSky Distributed Energy wants to use technology to execute a growing number of relatively granular transactions without creating a proportionately larger transaction team.
/p pThe MA Associate will therefore be expected to actively use and develop bAI?enabled and data?driven transaction processes /b, including: /p ul liautomated extraction and comparison of information across large project portfolios; /li liAI?assisted data?room review and document analysis; /li liautomated DD trackers and portfolio?level exception reporting; /li licontract comparison and identification of non?standard provisions; /li lirapid extraction of permitting, land, grid and commercial information; /li liautomation of repetitive modelling and investment?paper preparation tasks; and /li /ul pThe successful candidate will combine enthusiasm for new technology with strong judgement and appropriate quality control.
AI should reduce low?value manual work and allow the team to spend more time on investment judgement rather than replace that judgement.
/p h3Required Experience /h3 ul lib2–4 years of relevant professional experience /b.
/li liStrong transaction experience gained in investment banking / MA advisory, infrastructure or renewable?energy advisory, transaction services / corporate finance, an IPP or renewable?energy developer orMA / corporate law, for candidates demonstrating strong commercial and quantitative aptitude and a clear desire to move into principal investing.
/li liStrong financial analysis skills and, for finance/investment candidates, demonstrable financial modelling capability.
/li liUnderstanding of valuation, investment returns and transaction analysis.
/li liExperience working on due diligence and coordinating inputs from multiple workstreams.
/li liAbility to understand commercial and contractual documentation and identify the issues that materially affect an investment case.
/li liStrong Excel and PowerPoint skills.
/li liFluent written and spoken bEnglish and either Italian/Portuguese (or ideally both) /b.
/li liDegree in finance, economics, business, engineering, law or another relevant discipline.
/li /ul #J-*****-Ljbffr

📌 M&A Associate (Milano)
🏢 Coralsun
📍 Milano