Job Description

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Description

Globeleq, as the lead Sponsor of the Red Sands BESS Project, intends to commence construction of a 153MW/712MWh battery energy project and associated grid connection which includes construction of a new Eskom Main Transformer Station, overhead lines and a Switching Station.



The Project is located in the Northern Cape Province of South Africa near the town of Groblershoop and is split across two main sites with the overhead line corridor connecting them.



The Project is well advanced in its development including contractor selection, planning permissions, site studies, land agreements, and financing and project agreements.



Financing is being arranged through South African commercial banks and sponsor equity.



A single EPC construction company will construct the Project under a bespoke turn-key EPC contract. The EPC contractor is expected to have multiple key subcontractors who specialise in electrical and civil works. The EPC contractor is also responsible for delivery of the battery which will be containerised lithium-ion technology.



Construction is expected to commence around June 2025 with a minimum construction period of 24 months.###

Key Responsibilities

1. Project budgets:

Prepare a detailed construction budget and ensure the same is updated on a monthly basis capturing all the transactions Establish a Work Breakdown Structure to be uploaded in IFS (Globeleq's ERP) with all the cost elements as per the Financial Model with all the activities during the construction phase Ensure that all transactions are recorded in the IFS during the construction phase and the monthly construction report issued from the system Prepare the project report showing actual cash spent to date, cash forecasts and narrative in line with all project documents Produce lender drawdown requests, in accordance with lending document requirements, to satisfy future forecast spending Prepare all financial reporting to lenders in accordance with the Finance Agreement and ensure that they are shared on time Take the lead in the transition period from the construction phase into the operation phase and ensure that the work-in progress has been distributed correctly to form the fixed asset register

2. Financial reporting:

Maintenance and responsibility for the accuracy and timeliness of the books and records, including general ledgers and any other reporting Maintenance of the fixed asset ledger for all the project SPV Preparation and sign-off of annual audited accounts/financial statements preparation in accordance with IFRS Liaison with lenders and auditors to ensure compliance with all filing requirements and assist in the resolution of new accounting issues Ensure that the Group Procurement policies are adopted and applied at local level In conjunction with the Project Director, be the custodian of the local Risk Register and ensure regular review of all the risk and mitigation strategies

3. Lender reporting:

Produce lender drawdown requests, in accordance with lending document requirements, to satisfy future forecast spending Prepare all financial reporting to lenders In the instances where the project company requires waivers from the lenders, ensure that waiver letters are requested on time Prepare cash flow statements and sensitivity analysis to assess timely repayment of the debt and meeting other obligations Ensure that the project remains compliant with the requirements in the Lending documents at all times (including financial covenants) Ensure potential non-compliance is identified, remedies discussed and communicated well in advance

4. Internal Controls:

Ensure that Globeleq accounting policies and procedures, as well as external reporting standards, are established and observed Design a robust set of internal procedures and controls and ensure ongoing compliance Take the lead to support the internal audit department in any of the tasks being performed in the country by ensuring that they receive all the relevant information on time

5. Shareholder reporting:

Monitor all Group reporting requirements, deadlines and status. This will include reporting of monthly actual and project forecast information through the man-pack Agreeing intercompany transactions with Globeleq Group and other related parties Ensure monthly intercompany balance reconciliation takes place to address any unreconciling balances Provide respective financial models update with most recent actuals, budgets and post-budget period forecast Prepare and present financials reports to shareholders

6. Treasury planning and operations:

Cash management responsibility, ensuring cash use is maximised for the project SPV and all lender covenant requirements are met Review and approve payments to suppliers/contractors in time and in accordance with project milestones and contractual arrangements for projects under construction Timely cash reporting and forecasting Maintain treasury banking relationships, including primary day-to-day interface with operational bank providers Maintain bank accounts, master bank files, signatory listings Monitor bank accounts for unusual/unauthorised activities and ensure all activities are recorded appropriately

7. Tax Compliance:

Work closely with the Group tax manager and tax practitioner, manage all local tax issues for the project SPV Ensure tax compliance requirements are met, including all corporation tax, VAT and WHT returns Manage external tax advisors and coordinate advice as required Manage the process of obtaining tax clearance certificates and any advanced rulings that are deemed necessary Lead the response to all tax audits, liaising with local tax advisors as required

8. Other:

Assist with negotiations as required with Eskom (or any other offtaker) or the regulator in conjunction with the Project Director Ad hoc support to the finance and operations team on items including but not limited to: BBBEE reporting, vendor management, Economic Development reporting, etc. Support in any potential post-COD discussions/negotiations with the EPC contractors and the offtakers' including litigation, liquidated damages, amicable settlements


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Skills, Knowledge and Expertise

Skills and Competencies:

Self-starter happy to take a hands-on approach to day-to-day accounting activities in addition to higher level matters such as budgeting and cashflow forecasting Fluent in English (spoken & written) Ability to communicate effectively in Afrikaans A strong team builder and leader with a good understanding of organisation design principles Participative leader, capable of leveraging the input and experience of the broader team to analyse options and then make decisions as necessary Proficient knowledge of Microsoft Word, Excel and Power Point, MS Projects and/or PrimaVera Confident presenter, with previous experience in engaging with stakeholders from technical and commercial partners and stakeholders, board and lenders Strong communication skills particularly relationship management and negotiation skills Creative and innovative Cross-cultural awareness and ethical behaviour Communication, especially relationship management, influencing & written skills Decision making, specifically ability to absorb & interpret data / information Capacity to review, interpret and use project and legal documents Ability to adapt in a changing environment Advanced computer skills - spreadsheets, accounting systems Strong in planning and organisational skills A team player

Experience, Knowledge and Qualifications:

Professional qualification such as CA(SA), CMA or MBA with appropriate construction or project management experience Minimum experience of 5 years as financial manager Exposure and/or knowledge of the energy or infrastructure industry, project finance and/or public private partnerships is required Successful understanding of detailed project documentation Strong knowledge and familiarity with the critical aspects of major project agreements such as Power Purchase Agreements, Engineering Procurement & Construction contract, Financing Agreements and their interrelationships to each other is desirable Strong network within the South African energy sector is a plus Treasury experience in preparing cash reports and drawdowns under facility documents Detailed accounting/reporting knowledge with experience of all aspects of financial accounting and tax Ability to travel locally and internationally for short periods Advanced Microsoft Excel skills, proficient knowledge of Microsoft Word and Power Point


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About Globeleq

We develop, own and operate power plants utilising various technologies across the African continent. With many years of international industry experience, the support of committed shareholders, and long-standing project, technology, finance and government partnerships, we have the financial strength, management and operational expertise to power Africa to realise its potential.