Research Associate, Technology Trends, Pan-European Power Markets

Research Associate, Technology Trends, Pan-European Power Markets

Aurora Energy Research

Athens, Greece

You will join the pan-European Power Markets team, which is a transversal (horizontal) team that supports the work of individual country power market teams within Aurora. This provides you with the opportunity to gain exposure to multiple European power markets on a regular basis, and thus broaden your knowledge and understanding of different power market business and operating models. You will lead Aurora’s analysis of technology trends in Europe, focused primarily on renewable energy technologies such as solar and wind. Your key responsibilities will include maintaining and improving Aurora’s capital expenditure (CAPEX) model, cost of capital (WACC) model, analysing key global commodity, financial market and supply chain trends, and collaborating with stakeholders to develop Aurora’s long-term technology cost forecasts.

Within this role, you will work closely with project teams and external stakeholders to ensure that all technology cost forecasts are well-developed, comprehensive, and reflect country-specific market dynamics. The role will undertake regular power market modelling using the forecasts, which are key input into Aurora’s AER-ES power market model and have a significant influence on the quality and robustness of Aurora’s power price forecasts in Europe and globally. The focus of the role is initially on renewable power generation technologies, including solar PV, onshore wind and offshore wind, but could also encompass thermal technologies and other technologies that facilitate the energy transition (e.g., batteries, hydrogen peakers, carbon capture and storage), in line with business requirements.

The successful applicant will combine strong quantitative ability with a track record of performance in team-oriented environments in the energy sector. You will work in a dynamic, intellectually stimulating, and demanding yet supportive environment. You will enjoy autonomy, the opportunity to substantially influence major decisions in the energy sector, and to grow into an industry expert under the guidance of directors with deep experience addressing major strategic issues at the world’s leading advisory firms.

The position suits a professional with 3+ years of relevant experience at a research or data analytics firm or a company in the energy sector. The exact entry position will be dependent on experience and educational level.

Key Responsibilities

  • Lead Aurora’s analysis of technology trends in Europe, focused primarily on renewable energy technologies such as solar and wind
  • Maintain and improve Aurora’s capital expenditure (CAPEX) model by analysing key global commodity and supply chain trends, track innovations in energy technologies, and collaborate with stakeholders to develop Aurora’s long-term cost forecasts
  • In coordination with Aurora product teams, maintain a database of benchmark technology cost data from both public and third-party sources, assure data quality in terms of accuracy and completeness and setup and maintain ongoing processes to ensure the database is up-to-date
  • Investigate the underlying drivers of various capital expenditure components of renewable energy technologies, including but not limited to equipment (including materials), labour, construction and grid connection costs, and operational expenditure components including operating and maintenance activities and insurance.
  • Maintain Aurora’s tool and methodology for calculating the cost of capital for energy technology investments (particularly renewables), including undertaking analysis of the cost of debt and equity in various markets and technology-specific risk premi
  • In conjunction with other European power market teams, undertake power market modelling of technology and market trends to assess the impact of changes in technology costs and the cost of capital on power markets in Europe
  • Coordinate with Aurora’s North American and Asia Pacific offices to share knowledge on global technology trends and foster alignment of key assumptions across Aurora’s power market modelling teams
  • Undertake research projects from time to time to support Pan-European renewables content, by monitoring policy developments, analysing market trends, and synthesizing conclusions into recommendations
  • Draw insights out of the analysis you produce and communicate findings to internal and external clients by creating compelling presentations
  • Contribute to Aurora’s product development, by helping to identify new opportunities, supporting business development activities and expanding the team’s capabilities
  • Line manage at least one junior staff member and mentor and develop junior staff generally, including graduates

What we are looking for

Required attributes:

  • Αt least 3 years of experience at a leading consultancy, data analytics, energy company, investment bank, or other knowledge-driven firm or institution (e.g. think tank, research or university institute)
  • Sound experience and understanding of the fundamentals of renewables technologies, and the key technical and commercial parameters thereof
  • A very good university degree in either a quantitative subject, coupled with a keen interest in policy developments or a social science, environmental studies or a related field, coupled with several years of experience in quantitative analysis
  • A proven ability to collect, analyse and interpret complex quantitative data and information
  • An ability to communicate and collaborate with both technical and non-technical parties
  • Demonstrated success in project and process management in team-oriented environments
  • Competence in advanced data analytics (e.g. Python, R, Matlab, Advanced Excel, GAMS)
  • Proficiency (C1 level) in English

Desirable attributes:

  • Prior experience in the project cycle for the delivery of offshore wind, onshore wind or solar PV projects
  • Proficiency (C1 level) in at least one further European language besides English

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