Location: Gurgaon, India

Type: Full-Time

Experience: Chartered Accountant, 3-8 years post-qualification

About Varaha

Varaha is the largest carbon removal developer in Asia, working with more than 200,000 smallholder farmers. Trusted by brands like Google and Microsoft, we combine an exceptional team with deeply impactful work. Through regenerative agriculture, afforestation, and biochar, our projects remove carbon while simultaneously restoring soils, protecting biodiversity, and improving livelihoods far beyond our project boundaries. We are a profitable, rapidly growing company backed by premier global private equity and top-tier venture capital. Our roots are in India, and our impact is global.

The Opportunity

Varaha finances carbon removal projects the way renewable energy developers finance power plants: ring-fenced in SPVs, backed by offtake contracts with some of the strongest corporate counterparties in the world, and funded through rupee and foreign-currency debt facilities.

This role owns the numbers and the process behind those raises. You build the models that lenders underwrite against, run the diligence they put us through, compare the term sheets they send back, and assess the risks in a structure before we commit to it. You work directly with the commercial lead who drives these relationships and with our finance and legal teams.

Carbon project finance today resembles renewables project finance in its early years, with real cash flows and serious counterparties but limited precedent. Standard structures for this asset class do not exist yet, so the models and documentation you work on will often be developed for the first time.

Over time the role extends into commercial deal finance: offtake pricing economics, portfolio settlement scenarios, and the financial structuring of large carbon sales.

Reporting To: CCO

Key Responsibilities

- Build and own the models. SPV cash flows,



IRR and cost-of-capital analysis across instruments, dividend feasibility, and scenario work. Models need to be clean enough for a lender to audit and quick enough to update within hours when assumptions change during a negotiation.
- Run financing processes end to end. Data rooms, lender due diligence responses, information requests, and term sheet comparisons across negotiation rounds. You track every open item on our side and keep the process on schedule.
- Evaluate risk before signature. Covenants, events of default, security packages, currency exposure, and tenor. You read a draft facility agreement and set out clearly what it would cost us under stress, working alongside our legal counsel.
- Sit in lender and investor conversations. Prepare the materials, join the calls, and take responsibility for your own parts of the discussion over time.
- Keep one set of numbers. Commercial, treasury, and legal teams work from the same figures because you maintain and reconcile them.
- Grow into deal finance. As the role expands, you build pricing models for offtakes, run settlement and buyout scenarios, and work on the economics of structured carbon transactions.

Qualifications

- Chartered Accountant with 3-8 years of post-qualification experience.
- Project finance experience at a renewable energy developer, infrastructure company, infrastructure lender or credit fund, or in Big 4 deal advisory, including involvement in at least one raise from start to close.
- You build financial models that others can audit, and you turn revised assumptions around quickly.




- You can explain a financing structure clearly to someone outside finance, in writing and on calls.
- Careful, accurate reading of transaction documents where individual clauses have significant financial consequences.
- Skilled at using AI tools to speed up modeling, document review, and drafting.

Preferred

- Direct experience raising debt in rupees and foreign currency, or managing multi-currency exposure.
- Exposure to development finance institutions, impact lenders, or climate finance.
- Familiarity with carbon markets. This is not required; the financial skills transfer directly and the market can be learned on the job.

Why This Role Matters

Access to capital determines how rapid carbon removal scales. Every project financed means a facility built, farmers paid, and tonnes delivered to buyers who have committed to them. The developers who can raise capital efficiently against their portfolios will define this market, and Varaha intends to be one of them.

What We Offer

- Competitive salary and meaningful equity through ESOPs.
- Direct involvement in how a new asset class gets financed.
- Growth toward leading raises end to end as the portfolio scales.
- Support for learning and professional development.
- A culture of undogmatic, unbureaucratic creativity and collaboration.

Please note this job description is not designed to contain a comprehensive listing of activities, duties, or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice. Varaha is an Equal Opportunity Employer. This company does not discriminate in employment and personnel practices based on race, sex, age, handicap, religion, national origin or any other basis prohibited by applicable law. Hiring, transferring and promotion practices are performed without regard to the above listed items.

📌 Project Finance Manager (Gurugram)
🏢 Varaha Studio
📍 Gurugram