Position Title: Principal, Energy Finance
Location: Atlanta, GA (Alpharetta)
Employment Type: Full-Time (in office)
Compensation: $155,000–$175,000 annually, plus 15-25% bonus, and future carried interest opportunity
Start Date: Immediate
Benefits: Comprehensive benefits package, including 100% employee-paid health coverage, day-one 401(k), PTO, and more.
Company Description:
Overlay Capital is a multi-strategy private investment manager investing in the enabling infrastructure of the future across energy, waste, and the built environment. We focus on essential systems where advances in technology are driving step improvements in cost, performance and resilience. We operate with a commitment to excellence, transparency, and long-term impact. Working at Overlay means investing to solve some of the world's biggest problems, while seeking outsized returns for investors.
Position Overview:
Overlay Capital is seeking a Principal to support the underwriting, valuation, and technical/commercial diligence of renewable energy investments across the United States. This role will be responsible for evaluating both distributed generation and utility-scale energy projects, with a particular emphasis on renewable assets approaching Notice to Proceed (NTP).
The Principal will play a central role in Overlay Capital's lending strategy by assessing projects that require capital to complete final development milestones and achieve NTP. The ideal candidate possesses deep expertise in energy project valuation, extensive transaction and acquisition diligence experience, and a comprehensive understanding of project development, financing, construction readiness, and investment risk.
This position works closely with the investment team, borrowers, developers, engineering consultants, legal counsel, and third-party advisors to ensure disciplined underwriting and portfolio management.
Key Responsibilities
Investment Underwriting & Valuation
- Lead financial and commercial valuation of renewable energy projects across multiple technologies and U.S. and Canadian power markets.
- Develop and maintain sophisticated financial models to evaluate project economics, debt capacity, downside risk, and investment returns.
- Analyze project cash flows, merchant and contracted revenue assumptions, tax credit impacts, and capital structure alternatives.
- Evaluate sponsor assumptions regarding development costs, construction budgets, operating expenses, and expected returns.
- Prepare investment memoranda and recommendations for internal investment committees.
- Have some understanding of the M&A market for energy projects in the US and which markets are viewed as liquid
Project Diligence
Lead comprehensive diligence for development lending opportunities, including evaluation of:
- Project development status
- Site control and land agreements
- Interconnection agreements and queue status
- Permitting and environmental approvals
- EPC contracts and construction readiness
- Equipment procurement and supply chain risks
- Offtake agreements and revenue contracts
- Engineering studies
- Insurance requirements
- O&M strategies
- Financial counterparties
- Sponsor strength, capabilities, and historical performance
- Tax equity readiness
- Remaining development milestones to NTP
Coordinate third-party consultants including:
- Independent engineers
- Environmental consultants
- Market consultants
- Legal counsel
- Insurance advisors
- Technical advisors
Portfolio Monitoring
- Support Asset Management team to track project development milestones.
- Assist with portfolio valuations and periodic reporting.
Market Analysis
- Monitor renewable energy market trends across U.S. ISOs and regional markets.
- Evaluate changes in energy pricing, capacity markets, transmission development, and regulatory environments.
- Track federal and state incentive programs, including tax credit developments.
- Maintain awareness of evolving project valuation methodologies and financing structures.
Cross-Functional Collaboration
- Work closely with investment professionals, asset managers, and executive leadership.
- Support transaction execution from initial screening through closing.
- Assist in developing underwriting standards and investment processes.
- Build relationships with developers, sponsors, lenders, consultants, and industry participant.
Qualifications
Required
- Bachelor's degree in Finance, Engineering, Economics, Energy Systems, Business, or related field.
- 5–10+ years of experience in renewable energy project finance, acquisitions, project development, investment banking, infrastructure investing, or private equity.
- Extensive experience underwriting renewable energy projects for acquisition or financing.
- Deep understanding of utility-scale and distributed generation solar, storage, and other renewable technologies.
- Advanced financial modeling and valuation skills.
- Strong understanding of project finance structures and debt underwriting.
- Experience reviewing engineering, legal, permitting, and commercial diligence materials.
- Excellent analytical, organizational, and communication skills.
- Ability to manage multiple transactions simultaneously.
Preferred
- Experience underwriting construction or pre-construction financing.
- Experience evaluating projects nearing Notice to Proceed (NTP).
- Familiarity with tax equity structures and transferability under the Inflation Reduction Act.
- Experience with battery energy storage systems (BESS).
- Knowledge of U.S. power markets, interconnection processes, and transmission constraints.
- Experience working with independent engineers and technical consultants.
- CFA, CPA, MBA, or advanced technical degree is a plus.
Core Competencies
- Renewable Energy Project Valuation
- Financial Modeling
- Project Finance
- Acquisition Due Diligence
- Credit Underwriting
- Risk Assessment
- Investment Analysis
- Contract Review
- Commercial Negotiation Support
- Technical Project Evaluation
- Independent Decision Making
- Attention to Detail
- Strong Written and Verbal Communication
What Success Looks Like
A successful Principal will be detail-oriented, commercially savvy, analytically strong, and calm under pressure, particularly during interconnection cost shifts, deposit return events, or distressed-asset scenarios. The ideal candidate blends strong financial discipline with the ability to operate effectively in a fast-paced, developer-facing environment. Best candidates will show promise to grow within the organization as we grow from $175 Million in AUM to $500 Million and take on progressively greater autonomy and leadership.
Why This Role Matters:
This role is central to Overlay Capital’s ability to scale a complex, multi-strategy investment platform with discipline and control. As the internal owner of fund and loan accounting, this position ensures accurate tracking of capital, timely and reliable reporting, and strong coordination across investment teams and external service providers. Given the firm’s focus on private credit and asset-backed strategies, high-quality loan accounting directly supports investment decision-making, risk management, and investor confidence as the platform grows.
What You'll Get:
- High-impact role within a growing alternative investment platform.
- Meaningful exposure across private credit, infrastructure, real assets, and growth equity strategies.
- Competitive compensation, including base salary and performance-based incentive.
- Comprehensive benefits and flexible work environment.
- Opportunity to scale with the organization into senior roles.
Overlay is committed to ensuring an environment where all employees feel valued, respected, and empowered to contribute their unique insights and ideas.