Intern, Capital Markets
San Francisco, California, United States
Who We Are Looking For
The Capital Markets Intern will be part of Clearway's Capital Markets Team and will report to the Senior Manager, 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, structuring, and execution of non-recourse construction debt, term debt, tax equity, and cash equity (project sale) transactions for renewable energy projects in the United States.
This position is part of the 10-week Summer Internship Program at Clearway Energy Group beginning on June 1, 2026.
We are looking for current juniors (i.e. expected graduation in Spring 2027) pursuing a bachelor's degree in Engineering, Math, STEM, Finance, Business, Economics, or 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.
If you don't meet 100% of the qualifications but see yourself contributing, please submit your resume.
This is a hybrid role that will be based in the San Francisco office. Our hybrid policy is that employees are in-office on Tuesdays & Thursdays.
Program Timeline: (subject to change)
Applications Close: January 30
Interviews: February - March
Final Decision: March 31
Program Dates: June 1 - August 7
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.
What You'll Be Doing
The Capital Markets Intern primary responsibilities will include:
Model Optimization & Process Improvements
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.
Process, analyze, and present findings to Capital Market Team on recent market trends, federal regulations, and key industry news that involve renewable energy financing transactions.
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 team and leadership at the end of the internship.
What You'll Bring
Core Knowledge and Skills
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 a demonstrated interest in renewable energy, including recent industry updates and market dynamics. 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.
Eager attitude towards learning about the role that the Capital Markets Team plays within Clearway and the renewable energy project finance industry.
What Would Be Nice
Preferred Qualifications
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.?
The pay rate for the successful candidate will depend on geographic location, skills, relevant and demonstrated experience, education, training and certifications, and other factors permitted by law. This role is not eligible to earn an annual cash bonus, subject to personal and company performance goals.
Salary Range Across All U.S. Locations
$22-$26USD
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
Clearway Energy Group's vision is a world powered by clean energy. Along with our public affiliate Clearway Energy, Inc., our portfolio comprises approximately 11.8 GW of gross generating capacity in 26 states, including 9.1 GW of wind, solar, and battery energy storage assets, and over 2.8 GW of flexible 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 2 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.
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 for 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 (https://benefitsatclearway.com/) .
Notice to Applicants
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) , 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 (https://www.clearwayenergygroup.com/california-consumer-protection-act-applicant-notice/)
Clearway Energy is strongly committed to a philosophy of equal opportunity and fully complies with equal employment laws (https://www.dol.gov/sites/dolgov/files/ofccp/regs/compliance/posters/pdf/eeopost.pdf) , ordinances and regulations for all applicants and employees.
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