Commercial Manager, Origination & Structuring (Geothermal)

California Resources Corporation is a publicly traded oil and natural gas exploration and production company and the largest oil and natural gas producer in California. We operate our world-class resource base exclusively within the State of California, applying complementary and integrated infrastructure to gather, process and market our production. Using advanced technology, CRC's workforce focuses on safely and responsibly supplying affordable energy for California by Californians.

We are seeking a highly motivated and commercially driven Commercial Manager, Origination & Structuring to support the market development and commercialization of our next-generation geothermal portfolio. Reporting directly to the Director, Commercial Geothermal, this role will be responsible for the day-to-day origination, structuring, negotiation, and execution of power offtake transactions that underpin project development and financing activities.

The base annual salary for this posted position is reasonably expected to range from $140K - $190K, and eligibility to participate in our long-term incentive program. Individual pay decisions are based on several factors, including education, experience level and relevant industry experience. Benefits Include: Medical, Dental, Vision, 401k with Match, Paid holidays, FSA, HSA.

The successful candidate will work closely with technical, development, engineering, and project execution teams to originate, structure, and close Power Purchase Agreements (PPAs), Virtual Power Purchase Agreements (vPPAs), and other strategic commercial arrangements with utilities, municipalities, corporate customers, data center operators, and energy market participants. The ideal candidate combines strong commercial acumen with a solid understanding of power markets and project development, enabling the translation of complex technical capabilities into competitive, financeable, and executable customer solutions.

Responsibilities:

• Develop and execute commercial origination strategies to secure long-term revenue contracts for geothermal and other renewable energy assets.
• Identify, evaluate, and cultivate relationships with utilities, corporate energy buyers, hyperscalers, data center operators, community choice aggregators (CCAs), municipalities, and other prospective counterparties.
• Maintain an active pipeline of commercial opportunities and support deal sourcing from initial engagement through contract execution.
• Lead or support the structuring, drafting, negotiation, and execution of long-term PPAs, vPPAs, and other customized energy supply arrangements.
• Collaborate with legal, finance, and commercial leadership to develop contract terms that appropriately allocate commercial, operational, and market risks.
• Support due diligence, approval processes, and contract execution activities to achieve successful transaction closings.
• Evaluate project economics, including capital expenditures, operating costs, interconnection expenses, market pricing assumptions, and financing considerations.
• Develop pricing strategies and commercial structures that maximize project value while maintaining competitiveness and bankability.
• Assess market, credit, and contractual risks and recommend mitigation strategies throughout the transaction lifecycle.
• Serve as the primary commercial interface between development, engineering, operations, and project execution teams.
• Ensure commercial commitments related to generation volumes, dispatch characteristics, delivery schedules, and performance obligations are technically feasible and aligned with project capabilities.
• Support strategic planning and investment decisions by providing commercial insights during project development.
• Monitor power market fundamentals, regulatory developments, transmission and interconnection trends, renewable energy procurement activity, and emerging customer demands.
• Provide actionable market intelligence and strategic recommendations to commercial leadership.
• Track competitive activity and evolving procurement strategies among utilities, corporate buyers, and data center customers.

Required Qualifications:

• 5-8 years of experience in energy markets, power origination, renewable energy commercialization, project finance, infrastructure development, or a related field.
• Demonstrated success advancing complex commercial transactions from opportunity identification through negotiation and execution.
• Experience engaging with utilities, corporate energy buyers, data center customers, or other sophisticated energy market participants.
• Strong understanding of wholesale electricity markets, power pricing mechanisms, renewable energy procurement structures, and project economics.
• Ability to translate technical, operational, and development constraints into commercial solutions and contractual frameworks.
• Bachelor's degree in Finance, Economics, Engineering, Business Administration, Energy Management, or a related discipline.

Preferred Qualifications:

• Experience negotiating, structuring, or supporting renewable energy offtake agreements, with exposure to geothermal, solar, wind, energy storage, or other power generation sectors.

• Advanced financial modeling and analytical capabilities.

• MBA or relevant advanced degree is a plus.

• Strong negotiation, relationship-building, and stakeholder management skills.

• Excellent written and verbal communication abilities.

• Entrepreneurial mindset with the ability to operate effectively in a fast-paced development environment.

• Passion for advancing geothermal energy and the broader energy transition.