Senior Expert, Business Model

About the role

With more than 40 years of experience as a nuclear operator and co-owner of several Nordic nuclear power plants, Fortum is developing new nuclear to meet growing industrial demand in Sweden and Finland. New nuclear requires a business model that brings together state aid, financing, risk allocation, ownership, customers and project delivery. The Business Model Senior Expert will help develop this model, including Swedish State-aid framework.

The role covers commercial design of the Contract for Difference, State loan, risk-and-gain sharing mechanisms, as well as interfaces to project-delivery arrangements. You will prepare commercial analyses, stakeholder material and business terms, and assess how different proposals affect the project, its investors and the State. You will work as part of the New Nuclear Investments team and closely with NuCore Energi AB, financial modelling, project delivery, finance, treasury, tax, risk, legal and State-aid experts.

Your key responsibilities:

• Develop the commercial design of the Contract for Difference, State loan and risk-and-gain sharing mechanisms.
• Ensure that the different elements work together as one investable business model.
• Identify the main design choices, parameters, dependencies and open issues.
• Prepare commercial positions, alternatives and supporting material for discussion with stakeholders.
• Assess how proposals affect project financing, investor and state exposure, investor risk and project economics.
• Develop heads of terms and other commercial input for the relevant agreements.
• Work with financial modelling to test alternatives, scenario and sensitivities.
• Help develop the commercial capabilities and processes that NuCore will need as the project company matures.

The role will be part of Fortum’s New Nuclear Investment team. Regular co-operation with colleagues in Espoo and travel between Sweden and Finland, approximately once a month, is to be expected.

Want to know more about a career in nuclear at Fortum? Explore our opportunities, projects and what we offer here.

About you

You can understand a complex business model without making it unnecessarily complicated. You can identify the issues that determine whether an investment works, explain them clearly and turn analysis into practical proposals. You are comfortable working across commercial agreements, financing, project risks, State support and financial analysis. You do not need to be the deepest specialist in every area, but you understand how the pieces fit together and know when specialist input is required.

We are looking for:

• A relevant master’s degree in business, finance, economics, engineering, law or a comparable field.
• At least 5 years of relevant professional experience in commercial development, infrastructure investment, project finance, State support or other relevant field.
• Understanding of how revenue support, financing, risk allocation and investor returns interact.
• Experience preparing commercial frameworks, term sheets or decision material involving several contracts or parties.
• The ability to turn complex commercial and financial questions into clear alternatives and recommendations.
• The ability to work effectively with legal, finance, tax, treasury, risk, modelling and project-delivery specialists.
• Strong written and verbal communication skills in English.

Experience in nuclear power, major energy infrastructure, State-supported investment, CfDs, project finance, State-aid processes or government-facing projects is an advantage. Knowledge of the Swedish energy sector and Nordic electricity market is highly valued.

We offer you

You will work at the centre of a major new nuclear development, helping connect State support, financing, risk allocation and project delivery into one workable business model. The role offers the opportunity to shape both the commercial framework for the project and the capabilities that NuCore will need in the future.

At Fortum, we believe in a better future and want to be involved in shaping it. Our workplace is a safe place, both physically and mentally. You will grow with professional colleagues, being trusted and free to challenge yourself. We offer comprehensive benefits, flexible working hours, and hybrid work model to support your productivity, development and wellbeing. We are committed to build diverse teams where everyone feels included and is treated equally. More information about our culture and benefits can be found here.

For permanent employment with Fortum Sverige AB, you may be assigned a wartime posting within the organization. For further information regarding wartime posting, please refer to the Swedish Civil Defence and Resilience Agency.

Interested?

Submit your application by the 22nd of November at the latest. Please submit your application (CV and cover letter) in English. We may begin contacting suitable candidates already during the application period. In case of any questions, please contact Investment Director, New Nuclear Jukka Rahnasto, jukka.rahnasto@fortum.com. You may also call +358 44 258 2866; however, please arrange a suitable time by email in advance.

Contact details to union representatives can be found on the bottom of this page. To be selected for the position, the applicant must go through a background clearance.

We are Fortum
Fortum is a Nordic energy company. We generate and deliver reliable energy to our customers and the Nordic energy system while at the same time helping industries decarbonise their processes and grow. Our core operations comprise efficient and best-in-class low-carbon power generation, customer services, and heating and cooling. Fortum’s power generation is already 99% from renewable or nuclear sources with one of the lowest specific CO2-emissions in Europe. We are guided by our ambitious SBTi-validated emission reduction targets on our way towards net-zero by 2040. For our ~4,500 employees, we commit to be a safe and inspiring workplace. Fortum's share is listed on Nasdaq Helsinki. fortum.com

As a strong nuclear operator with solid background of over 40 years of nuclear operations and co-owner of several nuclear power plants in the Nordics, Fortum is now developing opportunities in nuclear newbuild. Fortum has established a new nuclear project company, NuCore Energi AB, to own, develop, construct, and operate a new nuclear power plant and its associated infrastructure in Sweden. Exploring the possibility to enable new nuclear buildout in the Nordics is in line with Fortum’s strategy to advance electrification in the Nordics by providing reliable energy and driving decarbonisation in industries.