Business Finance Manager / Controller — Solar IPP & EPC

Sturlite Greentech (ZEOVOLT) | Bengaluru | Full-time

Reports to: Group CFO, Sturlite Group and CEO, Sturlite Greentech

Team: One direct report (Business Finance Analyst)

ABOUT STURLITE GREENTECH

Sturlite Greentech is the clean-energy platform of the Sturlite Group, a ₹700+ Cr FMEG and lighting business with a 16,000+ dealer network across 28 states. Greentech is being built as a standalone C&I; solar Independent Power Producer (IPP) with an in-house EPC capability, a group-captive SPV model, and a clear ambition to scale into a listed platform. We develop, build, own and operate solar assets, sign long-term PPAs with commercial and industrial offtakers, and use structured financing (project debt, sale-and-leaseback, land-lease programmes) to recycle capital into the next project.

We are looking for the person who owns the numbers behind every one of those decisions.

THE ROLE

This is the finance brain of the IPP and EPC business. You will sit at the intersection of project evaluation, deal structuring, capital allocation and risk, and you will be the person who tells the CEO and Group CFO whether a project deserves to be built, on what terms, and whether it is delivering once it is.

You will be instrumental in conducting and driving the project Gate Meetings — the forum where every prospect is approved, re-scoped or killed — and you will be accountable for the quality of the analysis that goes into them. You will be critical to evaluating the risks associated with each project and defining the mitigation strategies, working closely with the project and sales teams throughout.

This is not a bookkeeping or statutory-reporting role. It is a commercial finance role for someone who is comfortable reading a PPA as closely as a cash-flow model.

WHAT YOU WILL DO

Project evaluation and capital decisions

- Build and own project financial models for every IPP and EPC opportunity: capex, tariff, generation, degradation, O&M;, financing, tax and residual value.
- Compute and defend project and equity IRR, DSCR, payback and NPV; run sensitivity and scenario analysis on tariff, CUF, capex, interest rates, ALMM/duty changes and offtaker credit.
- Drive capital allocation decisions across projects and SPVs — which projects get built, in what sequence,



and with what mix of debt, equity and lease finance.
- Drive the Gate Meetings: prepare the case with the project and sales teams, frame the go/no-go criteria, present the analysis, record decisions and follow through on conditions.

Deal structuring and optimisation
- Structure group-captive SPV arrangements (equity splits, offtaker contribution, performance guarantee deposits, buy-back mechanics) and evaluate alternatives.
- Work with lenders, NBFCs and lessors on project debt, sale-and-leaseback and master rental structures; model the economics and negotiate commercial terms alongside the CFO.
- Identify optimisation levers across the project lifecycle — procurement, financing cost, GST/tax treatment, land structures, EPC margin — and quantify them.

Project profitability, tracking and control
- Track budget vs. actual on every project under construction and in operation: capex slippage, schedule slippage, cost overruns, generation vs. P50/P90, collections and receivables.
- Own EPC job costing and margin reporting; flag variances early and drive corrective action with the project, sales and procurement teams.
- Build the management dashboard for the IPP portfolio and EPC pipeline; present monthly to the CEO and Group CFO.

Risk and contracts
- Evaluate the risks associated with each project — commercial, contractual, regulatory, execution and offtaker credit — and define and track the mitigation strategies with the project and sales teams.
- Read and assess PPAs, EPC contracts, lease/rental agreements, land leases, performance bank guarantees and lender term sheets from a risk-and-economics standpoint.
- Identify commercial and legal exposures — termination, change-in-law, curtailment, deemed generation, step-in rights, buy-back and ownership provisions — and ensure they are priced or mitigated before approval.
- Coordinate with external legal counsel,



lenders' advisors and technical consultants during diligence and financial close.

Team
- Manage and develop one direct report who supports modelling, data collection and reporting.

WHAT WE ARE LOOKING FOR
- MBA (Finance) from a Tier 1 institute (IIMs, ISB, XLRI, FMS, SPJIMR or equivalent) or a Chartered Accountant (first-attempt qualifiers preferred), with a minimum of 5 years of post-qualification experience in business finance, project finance, corporate finance or investment roles.
- Prior experience in renewable energy, infrastructure or EPC (IPP, developer, lender or advisory side) is strongly preferred but not mandatory — we value analytical rigour and commercial judgement over sector tenure.
- Hands-on mastery of project financial modelling — you have built models from scratch, not just reviewed them.
- Demonstrated experience with project debt, lease finance or structured transactions; exposure to sale-and-leaseback or group-captive structures is a strong plus.
- A legal bent of mind: you read contracts closely, spot the clause that changes the economics, and are comfortable negotiating commercial terms with counsel and counterparties.
- Working knowledge of the Indian solar regulatory landscape — open access, group captive rules, ALMM, GST on renewable assets, state policy nuances — or the ability to get up to speed on it fast.
- Strong business judgement and the confidence to say no to a project in front of senior leadership, with the analysis to back it.
- Structured communicator who can turn a 40-tab model into a one-page decision.
- Comfortable in an entrepreneurial, fast-moving environment where processes are still being built — and willing to build them.

WHY THIS ROLE

- You will shape the capital-allocation discipline of a platform being built for scale, not maintain one that already exists.
- Direct exposure to the Group CFO and CEO, and to lenders, potential investors, family offices and strategic counterparties.

LOCATION AND COMPENSATION

Bengaluru, with travel to project sites and offtaker locations. Compensation is competitive and commensurate with experience.

To apply: Send your CV and a short note on a project you evaluated or structured — and what you would have done differently — to [email protected].

📌 Business Finance Manager (Bengaluru)
🏢 Sturlite India
📍 Bengaluru