Project Finance Analyst

Net Power is an energy technology and project development company focused on the development of natural gas power generation projects to meet growing demand for reliable power. Our near-term development activities are focused on delivering natural gas power generation, with equipment designed to accommodate carbon capture in later phases.

Our vision is to make natural gas the lowest cost form of clean firm power.

Our impact is transformational - Headquartered in Houston, Texas, we aspire to improve the communities where we work and we’re committed to pioneering advancements that redefine the energy landscape, ensuring a better future for generations to come.

Job Overview

Net Power is seeking an experienced Project Finance Analyst to join the corporate finance team in Houston, supporting project-level and corporate financial modeling for Net Power's BTM, islanded microgrid development pipeline — spanning aeroderivative turbines, reciprocating engines, battery storage, and other generation technologies. The role will work directly with senior finance leadership, including the CFO, on capital structuring, offtake economics, and investor-facing analysis, and is a strong opportunity for an early-career finance professional with strong technical modeling skills to gain direct exposure to project finance, M&A, and capital markets execution in the power sector.

This role is based on-site in Houston, TX. Net Power offers a hybrid work schedule, 3 days in the office and 2 days remote.

KEY RESPONSIBILITIES

Project & Portfolio Financial Modeling

• Build and maintain project finance models for multi-technology BTM/islanded projects — including aeroderivative turbines, reciprocating engines, battery storage, and solar/wind — covering debt sizing, tax equity/tax credit structuring, and returns analysis.
• Build portfolio-level rollup models consolidating multiple individual projects, including JV/partnership structures and holdco-level financing (e.g., mezzanine debt) layered above project-level capital stacks.
• Model speed-to-power development timelines and their impact on project economics and financing structures.
• Track and model impacts of applicable tax credit programs (e.g., ITC/PTC) on project economics across technology types.

Offtake & Capital Markets Support

• Support development of direct offtake and BTM pricing analysis with data center and hyperscaler counterparties, including sensitivity cases and scenario modeling across technology configurations.
• Assist with preparation of materials for lenders, tax equity investors, rating agencies, and other capital providers.
• Conduct due diligence support for project financings, capital raises, and potential M&A transactions.
• Prepare investor-facing analyses and support quarterly earnings and disclosure processes.

Cross-Functional Coordination & Market Monitoring

• Collaborate cross-functionally with development, engineering, accounting, and legal teams to ensure model assumptions reflect current project status.
• Monitor power market fundamentals in ERCOT — the company's initial market focus — as well as other U.S. ISOs as the development pipeline expands, along with data center demand trends relevant to project economics and corporate strategy.

QUALIFICATIONS

Required

• ~2 years of relevant experience in project finance, investment banking, management consulting, or a public accounting/transaction advisory practice.
• Demonstrated experience building or working extensively with financial models for thermal and/or renewable power generation assets.
• Strong Excel modeling skills (three-statement modeling, debt schedules, waterfall/returns analysis).
• Bachelor's degree in Finance, Accounting, Economics, Engineering, or a related field.
• Strong analytical rigor, attention to detail, and ability to manage multiple work streams under deadline pressure.

Preferred

• Prior experience at an investment bank, consulting firm, or accounting/advisory firm with a power, energy, or infrastructure focus.
• Familiarity with tax equity structures and federal energy tax credits (ITC, PTC).
• Exposure to behind-the-meter, islanded, or microgrid power solutions combining multiple technologies (gas turbines/recips, battery storage, solar/wind), particularly serving data centers/hyperscalers.
• Exposure to portfolio-level rollup modeling across multiple projects, JV/partnership structures, and holdco-level financing (e.g., mezzanine debt above project-level debt).
• Working knowledge of ERCOT market fundamentals; familiarity with other U.S. power markets (PJM, MISO, CAISO, NYISO) a plus as the pipeline expands.

Bonus (not required, but a differentiator)

• Experience with integrated dispatch/optimization modeling for hybrid asset portfolios (e.g., battery arbitrage against thermal and/or renewable output to meet a firm load shape).

Additional Requirements

Candidates must be able to perform essential functions as outlined above, including but not limited to:

• Operate at a computer and sit for long periods of time.
• Repeat motions that may include the wrists, hands, or fingers.

This description reflects the general nature and scope of the role and is not an exhaustive list of duties. It may evolve with the needs of the business.

Net Power is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex (including pregnancy), sexual orientation, gender identity, national origin, age, disability, genetic information, protected veteran status, or any other characteristic protected by applicable law. Net Power provides reasonable accommodation to qualified individuals with disabilities and for sincerely held religious beliefs. Applicants who need an accommodation during the application or interview process may contact Human Resources.