Programme Officer Renewable Energy Finance Markets, P-4
Abu Dhabi (United Arab Emirates)
Secretariat of the International Renewable Energy Agency (IRENA)
Project Facilitation and Support Division (PFS)
Publication Date\: 9 September 2021
Deadline for Application\: 8 October 2021 (at midnight, Abu Dhabi Time)
Job Title and Grade\: Programme Officer Renewable Energy Finance Markets, P-4
Indicative Annual Salary\: USD 74,913 to USD 84,694 and other benefits
Duration of Appointment\: One-year, with extension based on performance
Duty Station\: Abu Dhabi, United Arab Emirates
Entry on Duty\: As soon as possible
The International Renewable Energy Agency (IRENA) is an inter-governmental organization headquartered in Abu Dhabi, mandated to promote the adoption and continuous use of all forms of renewable energy to pursue sustainable development, energy access, and security and low-carbon economic growth and prosperity. IRENA's mission is to lead the ongoing transformation of the global energy systems as a center of excellence for knowledge and innovation, a global voice of renewable energy, a network hub for all stakeholders, and a source of advice and support for countries. The Agency is committed to accelerating the energy transition through integrated project facilitation to support member countries to meet their NDCs, in their endeavor to scale renewable energy (RE) technologies in their economies.
In 2013, IRENA and the Abu Dhabi Fund for Development (ADFD) created a partnership to deploy funding resources to finance renewable energy (RE) projects in developing countries. The United Arab Emirates anchored the initiative with USD 350 million to fund the IRENA-ADFD Facility (the Facility). During its seven cycles, the Facility received over 600 project proposals, 26 of which received capital allocations benefiting 21 developing countries. The Facility further attracted approximately USD 570 million in co-funding from other financing sources. Overall, IRENA and ADFD enabled the mobilization of almost USD 1.0 billion in impact investing. The IRENA and ADFD institutional convening power, the lessons learned from and track-record built with the Facility reinforced the continuation of the partnership and layout the foundations to design and implement an ambitious climate financing platform. The Energy Transition Accelerator Financing (ETAF) platform will be fit-for-purpose IRENA's mandate to accelerate the energy transition and the UAE's objective to become an international financing center for climate finance.
The Energy Transition Accelerator Financing platform is an open climate finance platform dedicated to mobilizing capital to facilitate financing matchmaking of RE projects in IRENA's 165 member countries. The Energy Transition Accelerator Financing (ETAF) platform will\:
- Channel financing for a geographically and technologically diversified quality pipeline of RE projects supports implementing ambitious National Determined Contributions (NDCs) to meet the Paris Agreement targets and realize the United Nations Sustainable Development Goals (SDGs).
- Mobilize financial resources from climate finance international financial institutions, such as DFIs, MDBs, IFIs global, regional, local, and the corporate sector.
- Facilitate financing matchmaking of near-ready RE projects to support countries to meet their NDCs.
Duties and Responsibilities
Through its RE Finance Markets unit, IRENA seeks to recruit a Programme Officer responsible for the capital mobilization and relationship with existing and new funding partners. The Programme Officer P-4 will\:
- Initiate and maintain an active dialogue with funding partners, provide updates to regular updates to the division team of the progress onboarding funding partners and their financing and investment targets
- Initiate and coordinate outreach activities with ADFD and other strategic funding partners
- Lead capital mobilization, distribution, and fundraising in an international context, able to identify, engage and work with climate finance stakeholders across private and public sectors, such as project proponents, regional and local banks, and other intermediaries, institutional investors, etc
- Collaborate and efficiently coordinate with the division's technical assistance and facilitation team on all aspects related to markets updates on climate finance, benchmark transaction, and the overall status of climate finance markets, including projects' credit and risk trends
- Collaborate and efficiently coordinate with the division's technical assistance and facilitation team working with project proponents (sponsors and developers) to provide feedback on adequate risk-mitigant products to initiate corrective actions to matchmake projects and funding sources efficiently
- Facilitate the engagement of relevant climate finance players with the ETAF, and IRENA.
- Perform other duties as required within the scope of the unit's objectives, in line with IRENA general strategic direction and in coordination with the Agency's other supporting divisions when needed.
Professionalism\: In-depth knowledge of project financing and the renewable energy sector. Demonstrated track record working and engaging with multilateral development banks (MDBs), financial institutions (FIs), and regional commercial banks. Solid experience working in multicultural environments, managing and coaching junior professionals; shows pride in work and achievements; demonstrates professional competence in subject matter and pays attention to detail; is conscientious and efficient in meeting commitments, observing deadlines, and achieving results.
Communication\: Speaks and writes clearly and effectively; listens to others, interprets messages from others and responds appropriately; asks questions to clarify, and exhibits interest in having two-way communication; tailored language, tone, style, and format to match audience; demonstrates openness in sharing information and keeping people informed.
Planning & Organizing\: Develops clear goals consistent with agreed capital mobilization strategies; identifies priority activities and assignments; adjusts priorities as required; allocates appropriate amount of time and resources for completing work; foresees risks and allows for contingencies when planning.
Accountability\: Takes ownership of all responsibilities and honors commitments; delivers outputs for which one has responsibility within the prescribed time, cost, and quality standards; operates in compliance with organizational regulations and rules; provides feedback to junior professionals and takes responsibility for delegated assignments; takes personal responsibility for their shortcomings and those of the work unit, where applicable.
Teamwork\: Works collaboratively with colleagues to achieve organizational goals; solicits input by genuinely valuing others' ideas and expertise; is willing to learn from others; places team agenda before personal agenda; supports and acts following final group decision, even when such decisions may not entirely reflect own position; shares credit for team accomplishments and accepts joint responsibility for team shortcomings.
Education\: Master's degree or equivalent in business, finance, or other relevant field related to finance and renewable energy. A first-level university degree in combination with qualifying experience may be accepted in lieu of the advanced university degree.
Professional Experience\: At least seven years of relevant experience in the international financial service sector with industry focused on the renewable energy sector gained working in multilateral financial institutions, international commercial or investment banks, and equity providers. Additional essential qualifications\:
- In-depth knowledge of project financing and the renewable energy sector. Track record engaging with multilateral development banks (MDBs), financial institutions (FIs), or other Climate Platform sponsored by G7/G20 economies to address climate change and scale up of RE energies and technologies..
- Experience in project financing focused on the renewable energy sector and its vertical niches, such as microgrids, DG, e-transportation; experience in due diligence and transaction closing
- Exposure and experience working with different debt structuring and equity products, concessional financing, fundamentals co-investments
- Experience working with export credit agencies, risk insurance providers, and other providers
- Knowledge and understanding of international capital and commercial bank market dynamics
- Knowledge of credit and risk assessment analytical skillset will be an advantage
Languages\: Excellent command of both written and spoken English is essential for this position. Fluency in other languages would be of additional benefit.
Qualified candidates must apply for the above-mentioned vacancy on-line by uploading the completed application form and a letter of interest, including details of three professional references who will be contacted if their application is shortlisted.
Please note that only candidates under serious consideration will be contacted for an interview and will receive notice of the final outcome of the selection process.
 IRENA provides similar ICSC benefits and entitlements, including dependency allowances, rental subsidy, education grant (for school aged children), annual and sick leave, health insurance, Provident Fund participation, etc. as would be applicable.