Is Project/Sustainable Finance Legit?

Based on the most helpful WSO content, here's what you need to know about starting a career in project/sustainable finance, particularly focusing on renewable energy and climate-tech:

1. Top Names in Renewable Energy Investment Banking:

   • Nomura Greentech is indeed a prominent player, especially after its merger, enhancing its position in the renewable energy space.
   • Greentech Capital Advisors (now part of Nomura) has a strong reputation.
   • Other notable firms include Marathon Capital and TPH (Tudor, Pickering, Holt & Co.), which are also exploring energy innovation.
   • Large banks like JPMorgan, Bank of America Merrill Lynch (BAML), and Goldman Sachs have significant project finance and tax equity teams focused on renewable energy.

2. Common Starting Points and Exit Opportunities:

   • Starting in renewable energy investment banking is becoming more common as the sector grows. Firms like Nomura Greentech are considered good launching pads.
   • Exit opportunities include moving into private equity, particularly into funds that focus on infrastructure or renewable energy. Firms like Capital Dynamics and ArcLight Capital are examples where professionals might transition.
   • Venture capital is another avenue, especially for those interested in newer, technology-driven companies in the climate-tech space.

3. Building Experience for Project Finance Interviews:

   • Interning at a local solar developer would be highly attractive as it provides direct exposure to the financial operations within renewable energy projects.
   • Your previous internships in consulting related to electricity markets and climate-tech are excellent. They show a strong foundation in the relevant industry knowledge and analytical skills.
   • To further build your profile, consider focusing on financial modeling skills, understanding tax equity structures (common in renewable financing), and gaining familiarity with market regulations and incentives.

Your background and interests align well with a career in renewable energy finance. Continue to leverage networking opportunities, like your coffee chat, and seek internships that offer hands-on experience in the financial aspects of renewable projects.

Sources: https://www.wallstreetoasis.com/forum/investment-banking/renewable-energy?customgpt=1, Renewable Energy, Opinion on Greentech Capital Advisors after recent merger with Nomura, Thoughts on Power and Renewables IB, Ranking Investment Banks in 2021