Project Finance - Valuations
Hi Everyone,
I recently graduated from non target with dual Finance and Economics degree (3.6 GPA). I got a job at small valuations company (around 100 people). My colleagues keep telling me that this is project finance group. However, from what I read on this forum this is not "real project finance".
My job involves reading a bunch of documents (PPAs, Hedge Agreements, Interconnection Agreements etc) and "valuing" those projects. However, the modelling is limited to plugging in the numbers from our clients models (which we are supposed to "analyze" as well, but we are not involved in any work with the pro formas financial statements, capital structure debt etc at all) into our own and using them in our DCF (we also do cost (cost segregation to check for ITC eligiblity) and market approach). I would say that going through those documents and writing reports takes about 70-80% of my time and analysis/modelling 20-30%.
At some point in my career I would like to switch to a energy PE. My questions to you folks is how "valuable" are the skills that I'm learning in my current position if at some point I would like to switch to PE? Should I first try to get to IB (I did a lot of networking and will probably get interviews with two MM IB (energy divisions) at the end of this summer.) or should I just stay where I am for a year and then try to get into PE? I am also pretty confident that I could get a job at a boutique IB however with no industry focus.
Anyone?
I am somewhat familiar with the role you describe and would say it’s a valuable skill set for working at a developer or IPP but not for PE. Lateraling into IB and supplementing with your existing skill set would make you a unique candidate as most energy/power IB analysts are not going to be reading PPAs Andy interconnection agreements.
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