The Role
We are looking for a with a Project Finance background to support the fast-growing Power & Utilities Projects team.
The team specialises in advising clients on the delivery of large water and energy infrastructure projects including new nuclear plants, onshore and offshore electricity networks, interconnectors, reservoirs and other major assets. The Projects business is focussed on designing new markets and advising on in-house and competitive delivery models for major infrastructure projects and programmes. We advise on all aspects of an asset’s delivery, including commercial arrangements, financing structures, regulatory strategy and engagement, and procurement processes – both for individual assets and new delivery programmes.
Our clients, include companies, developers, bidders and regulators. Some of our projects include Hydrogen Transport Business Model, Hinkley Point C, potential investor in Sizewell C, Thames Tideway Tunnel (TTT), multiple Direct Procurement for Customers (DPC) and Special Infrastructure Projects Regime (SIPR) projects, Offshore Transmission Owners (OFTO), Cap and Floor Interconnectors, Competitively Appointed Transmission Owners (CATOs), new nuclear projects (NNPs) and Small Modular Reactors (SMRs). Our clients are typically based in the UK and across Europe.
Services provided by the P&U Projects team:
1. All aspects of commercial and financial advice on major infrastructure projects;
2. Raising of finance (development capital, equity and debt);
3. Financial structuring, financial modelling and scenarios analysis;
4. Design of bespoke delivery models—this includes funding models (such as RAB, PPA, CfD), financing strategy and structures, Government or third party support packages, and State aid / UK subsidy control approval strategy and applications;
5. Strategic and policy advice to major developers, bidders and other stakeholders, including government bodies and regulators on delivering utilities infrastructure and in particular large projects;
6. Procurement and commercial advice including construction contract approach, commercial terms of contracts, incentive regime, packaging;
7. Advising on bidding strategy, bid response preparation including commercial and financial bid responses, finance competition, coordination with lenders, and supporting on contract negotiations;
8. Market analysis and benchmarking of sector and key players including supply chain and technology;
9. Business case preparation for various stakeholder approvals and grant applications; and
10. Other advisory services such as sector analysis, etc
The candidate should have a very good understanding of the utilities and energy sectors in the UK, with a special focus on large infrastructure and major projects. The candidate should also have a good track record of working in financial advisory, including leading a team, and both winning and delivering advisory services, supported by a proven reputation in the sector.
The role also involves bringing together different advisory services to identify opportunities, developing and maintaining strong relationships with key players in the sector while working closely with other parts of KPMG Advisory, to originate and structure our combined utilities infrastructure offering.
Responsibilities
As a senior member of the Projects team within Power & Utilities the individual will be responsible for:
• Leading commercial, procurement, regulatory and financial advice on large and complex projects;
• Leading complex client engagements on a day-to-day basis;
• Managing our advice on engagements typically involving multiple workstreams and specialist teams;
• Producing, reviewing and overseeing development of high quality client outputs;
• Operating at the C-suite and board level with developers, investors and regulators;
• Proactively keeping up to date with deal advisory thinking on a global level;
• Building enduring client relationships and becoming the go to person for our clients on structuring and financing major projects;
• Maintaining a good technical understanding of the key sectors in P&U;
• Developing sector specific market intelligence;
• Coaching and mentoring other staff;
• Contributing to the management of Infrastructure Power & Utilities business as part of the senior management leadership group;
• Identifying and recruiting talent;
• Being a role model for less experienced staff and for the firm's values;
• Providing senior leadership to people providing financial advice on projects;
• Ensuring KPMG's quality and risk management procedures are completed to the appropriate standard;
• Performance management, coaching and mentoring of team members; and
• Any other duties commensurate with the senior nature of the role.
Business development activities will include:
• Developing and maintaining business relationships with investors, companies and developers, regulators and other stakeholders involved in major projects in the Power & Utilities sector;
• Working closely with colleagues across IAG, Power & Utilities team and other parts of KPMG Advisory;
• Targeting key stakeholders in-line with our strategy and developing a pipeline of opportunities to support the growth of the utilities infrastructure business as well as wider P&U team;
• Building a strong external and internal network to promote our services and the value provided;
• Leading on development of thought leadership and speaking engagements; and
• Proactively promoting our services.
The Person
We are looking for a person who can work at pace and manage multiple complex engagements, often on demanding timescales. The person should bring experience and best practice and collaborate closely with other parts of the team. They should have proven experience of advising on projects in utilities and other infrastructure sectors with strong skills in client relationship management and a track record of delivering high quality outputs and securing further work. The person is expected to have relevant experience and proficiency to lead particular business areas and initiatives.
The person must have in-depth knowledge and good working experience in at least two of the following areas:
11. Excellent understanding of construction contract (for example NEC4) terms and conditions based on practical experience working on multiple such engagements
12. Excellent experience in building new and/ or review of complex financial models (for example PFI or RAB based models)
13. Excellent understanding of alternative funding models (CfD, RAB, PPA, etc)
14. Deep expertise in providing financial advice, in particular on project finance transactions. This includes extensive experience advising on financing structures and financing terms for infrastructure projects (for example PF2);
Skills, Qualifications & Experience
• Expertise in financial advice, project finance and corporate finance
In depth knowledge and experience of working on major projects;
• Understanding of key value drivers in projects including policy, regulation, financing, investments, markets;
• Understanding of the regulatory arrangements in the UK water and energy networks sectors or nuclear sector;
• Experience in financial analysis using core techniques and methodologies in project finance and corporate finance;
• Skilled in financial modelling and complex financial analysis. A good understanding of scenario modelling and quantification of financial risk and impacts on financial viability with skills to implement it in practice;
• Understanding of core credit rating agency methodologies for projects, understanding of typical financial structures and financing solutions in the sector;
• Experience of investment appraisal, development/build of financial models and analysis of hurdle rates;
• A track record of working in professional services, including leading a large team, and both winning and delivering advisory services;
• Being comfortable managing staff and stakeholders across a wide range of disciplines including economics, finance, legal, and engineering;
• Understanding of key value drivers in infrastructure projects including policy, regulatory and market framework, financing, delivery, operations etc;
• Assured and experienced in a client and market facing role;
• A go get attitude and a will to succeed, with experience of opening up opportunities;
• Being an independent thinker with the ability to identify and solve problems;
• Strong presentation and communications skills;
• Skills to successfully develop and manage client relationships; and
• Strong commercial awareness.