Intern, Capital Markets

Who We Are Looking For

The Capital Markets Intern will be part of Clearway’s Capital Markets Team and will report to the Senior Director, Capital Markets. The Capital Markets Team is responsible for project finance, valuation, analysis, process improvement, and data systems in the Battery Storage, Utility Solar, and Utility Wind space. In particular, the team is responsible for the analysis and structuring of non-recourse construction debt, term debt, tax equity, and cash equity (project sale) transactions for renewable energy projects in the US.

If you don’t meet 100% of the qualifications but see yourself contributing, please submit your resume.

This position is part of the 10-week Summer Internship Program at Clearway Energy Group beginning in June 2025. This hybrid job posting is for the San Francisco office location.

We are looking for current juniors pursuing a bachelor’s degree in Engineering, Math, STEM, Finance, Business, Economics, or a related field.

Throughout this summer internship program, you’ll get exposure to real projects and challenges while gaining first-hand professional experience. At Clearway, you’ll gain access to an innovative and fast-paced work environment. You’ll also participate in networking and learning events with your fellow intern cohort.

Program Timeline:

Applications Close: March 7

Interviews: March and April

Final Decision: Offers likely extended in April

Program Dates: June 2 – August 8

What You'll Be Doing

Model Optimization

• Refine Excel-based project finance model templates that serve our project origination, development, construction, financing, and asset management business. 
• Develop and improve the data automation connecting the project finance models and financial data systems that enable efficient use of the model at scale (for many projects), including the exploration of AI-based improvements.
• Help architect and implement the analytical and data infrastructure that enables structured project finance analysis to be leveraged across the organization in project financings, internal tracking/reporting, external tracking/reporting, budgeting, etc.

Financial Modeling & Management

• Implement the terms of the tax equity, construction debt, term debt, cash equity, etc. financing in the project finance model templates.  
• Communicate to internal stakeholders our underwriting standards and implement those standards in the project finance model templates.  
• Support running financing processes to find and secure sources of capital that are the best fit for the company’s goals.
• Support presentations and reports on transaction status, risks, and benefits to the Leadership Team.

The Capital Markets Intern will be assigned to an individual project and will present results to the project leadership at the end of the summer.

What You'll Bring

• Advanced Excel skills and understanding of key financial concepts such as financial statements, accrual vs. cash accounting, discounted cash flow analysis, time value of money, internal rate of return, and net present value. 
• Ability to work well in a collaborative environment that emphasizes attention to detail, meeting deadlines, and working together to achieve company-wide objectives.
• Intellectual curiosity and an interest in renewable energy. You’re here because you believe in and want to help create a clean energy future.
• Strong interpersonal skills. You’re willing to ask lots of questions, listen to your colleagues, and contribute your ideas.
• Self-motivated, dependable, and accountable. This means showing up, being present, and being eager to dive into the workday. If you ever feel like you’ve completed all your tasks and have time to spare, you’re eager to speak up and ask what else you can do.
• Ability to work independently, multitask, and take ownership of projects and assignments. You’re comfortable taking initiative, asking questions, and speaking up.

What Would Be Nice

• Project Finance modeling experience (i.e., discounted cash-flow analysis with multiple investors). 
• Experience working in the power or infrastructure industry (or demonstrated strong interest).
• Background with VBA and an interest in sharpening those skills through working on real-world projects. 

Clearway will not sponsor nonimmigrant visas for this position (H-1B, TN, E-3, J-1, etc.) or provide any assistance in support of any other form of immigration sponsorship or benefit including OPT or CPT.

Clearway Energy Group is leading the transition to a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.6 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.5 GW of conventional dispatchable power generation providing critical grid reliability services. As we develop a nationwide pipeline of new energy projects for the future, Clearway’s operating fleet generates enough reliable electricity to power more than 3 million homes today. Clearway Energy Group is headquartered in San Francisco with offices in Denver, Houston, Phoenix, Princeton, and San Diego. For more information, visit clearwayenergygroup.com.

Our Commitment to Diversity, Equity, & Inclusion
At Clearway, we create a community that isn’t about being the same – it’s about building a team of unique individuals, with different backgrounds & skill sets, coming together to build something big & make a difference in the world. Clearway’s team is dedicated to a clean energy future across a wide spectrum of roles & responsibilities. Embodying our company values and operating principles, unique individuals come together over a common mission. We embrace opportunities to do challenging work that can change the world. We aspire to bring out the best in everyone. We share setbacks, celebrate successes, & act with integrity & accountability to get the job done.

Working at Clearway, Hybrid Together
Here at Clearway, we’re committed to balancing flexibility while fostering strong relationships with our teammates. We do this by prioritizing new hires based near one of our offices in San Francisco, San Diego, Scottsdale, Houston, Denver, & Princeton. Our office-based employees typically work together from fabulous spaces on Tuesdays & Thursdays to collaborate & learn, build community, get to know one another, & enjoy company-provided meals & events.

Clearway Energy is an equal opportunity employer that values a broad diversity of talent, knowledge, experience & expertise. We intentionally foster a culture of inclusion that empowers our employees to deliver superior performance to the communities we serve. We encourage minorities, women, individuals with disabilities & protected veterans to join the team. Clearway is a proud promoter of employment opportunities to our Military & Veterans.

What We Provide
Clearway offers all eligible employees working 20+ hours per week a comprehensive menu of benefits: generous PTO, medical, dental & vision care, HSAs with company contributions, health FSAs, dependent daycare FSAs, commuter benefits, relocation, & a 401(k) plan with employer match, a variety of life & accident insurances, fertility programs, adoption assistance, generous parental leave, tuition reimbursement, & benefits for employees in same-sex marriages, civil unions & domestic partnerships. For more on Clearway benefits, visit our Benefits Website.

Notice to Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances and regulations for all applicants and employees. We will make reasonable accommodations to enable individuals with disabilities to apply and compete for employment opportunities for which they are qualified. If you need a reasonable accommodation because of a disability for any part of the employment process, please send an e-mail to recruiting@clearwayenergy.com and let us know the nature of your request and your contact information.

Notice to California Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws, ordinances and regulations for all applicants and employees.