Associate, Clean Energy

About Capital Dynamics: Capital Dynamics is an independent global asset management firm focusing on private assets, including private equity (primaries, secondaries and direct investments) and clean energy. Established in 1988, the Firm has extensive knowledge and experience developing solutions tailored to meet the exacting needs of a diverse and global client base of institutional and private wealth investors. Capital Dynamics oversees more than USD 14 billion in assets under management and advisement and employs approximately 150 professionals globally across 14 offices in Europe, North America, and Asia. Capital Dynamics is a recognized industry leader in responsible investment, receiving top marks (Five Stars) from PRI across all categories and investment strategies, as well as in GRESB benchmarking for its clean energy strategy.

Our Clean Energy team makes direct equity investments in carbon-reducing renewable energy, from late-stage development through to commercial operations. Capital Dynamics is one of the largest managers of UK onshore wind assets and subsidy-free solar PV in Europe. We focus on de-risking projects as they exit development and optimising performance and capital structure through to commercial operations.

THE OPPORTUNITY: This is a newly created role to support the growth of our Clean Energy platform. We’re looking for a driven, commercially sharp Associate to join our Clean Energy Investment team in Madrid, reporting to a Director. You’ll be a core member of the investment team from day one: acquiring and divesting assets, building financial models, conducting due diligence on new opportunities, and liaising with consultants, advisors, and investment committees across the fund. You’ll support live transactions through the due diligence phase, alongside ongoing valuations, investor reporting, capital raising, and the asset management of our current portfolio - giving you exposure across the full investment lifecycle from day one.

SECTOR EXPERIENCE: We’re especially interested in candidates with a track record in Clean Energy / Renewable Energy (Wind or Solar), Battery Storage (BESS), or Data Centre infrastructure. Deal experience in any of these areas will stand out - but a strong all-round infrastructure or renewables background is also welcome.

LANGUAGE REQUIREMENT - ESSENTIAL: You must be fluent in English and Spanish and one other including - German, Polish or a Nordic country language. Our Clean Energy portfolio spans Spanish, Italian, German, or broader European markets, so this is a genuine day-to-day requirement - candidates who don’t meet it won’t be able to progress.

KEY RESPONSIBILITIES:

• Lead the preparation of automated financial models and conduct financial sensitivities where appropriate.
• Assist in drafting investment committee memoranda used directly in investment decisions.
• Provide support through due diligence on acquisitions and the execution process on divestitures.
• Support the financing activities of investments across the portfolio.
• Conduct market analysis and research to support the team’s investment decisions.
• Work with the Asset Management team to monitor and optimise investment performance post-acquisition.
• Represent the team at meetings, conferences and internal discussions.
• Perform sensitivity analysis to appraise projects under different performance scenarios.
• Work with the Business Development and Product Development & Strategy teams to help respond to investor requests.

WHAT WE’RE LOOKING FOR: Skills & Experience A demonstrable track record in clean energy infrastructure / renewable energy, BESS and/or data centre deals in Europe, with strong knowledge of the Spanish, Italian, German or broader European markets. Good understanding of accounting, finance and company valuation; asset management exposure is a plus. Good understanding of financial methodologies — leveraged buyout, forecast analysis, financial statement analysis and discounted cash flow analysis. Extensive practical working knowledge of financial modelling, including modelling of debt financing. Working knowledge of financial analysis ratios such as yield, IRR and NPV. Good working knowledge of the support frameworks for renewables. Comfortable using AI tools and large language models to accelerate market research, first-pass analysis and document drafting, with sound judgement on where human review is essential.

Education & Qualifications Minimum 2:1 degree (or equivalent) from a recognised university, in Business, Finance, Responsible Investment, Renewable Energy or a related field. Exceptional proficiency in MS Word, PowerPoint and Excel. A keen interest in Responsible Investment and frameworks such as the UN Sustainable Development Goals, or a genuine willingness to learn.

Languages Essential — Fluent Spanish and English with superior writing skills. Desirable — Proficiency in a further European language, preferably German, Polish, Danish, Finnish or Swedish.

You’ll Also Bring Highly developed analytical skills and the ability to work on your own initiative. Comfort operating in a continuously evolving business environment. The ability to work accurately under pressure. Good organisational skills and exceptional attention to detail. The ability to produce high-quality presentation materials. An exceptionally team-oriented, problem-solving, results-focused mindset. Highly developed verbal and written communication skills - articulate, balanced and cogent.

Our Equal Opportunity Commitment: Capital Dynamics is an Equal Opportunity Employer and is committed to creating a global diverse workforce. We are a global company with 24 nationalities represented across our staff in 14 offices, spanning North America, Europe, the Middle East, and Asia. We believe diversity and inclusion (“D&I”) is key to being better at what we do, and our initiatives are designed to attract, develop, and advance talented individuals, regardless of race, sexual orientation, religion, age, gender, disability status or any other dimension of diversity. We welcome and strongly encourage suitably qualified applicants from a wide range of backgrounds to apply to join Capital Dynamics. Please inform our recruitment team if you have a disability, condition or difference that may require us to make any adjustments as part of your application process or during employment.