In the next instalment of our Route to Renewables series we spoke to Fran Fracalossi, Red Rock’s Senior Financial Modeller, about her career journey in the energy industry.
What did you want to be when you were growing up?
As a kid, I wanted to be a policewoman or firefighter. I had always wanted to do something that would impact the community I am part of and make things better. Failing that, my next goal was to do something that would make me close to nature.
What did you do when you left school?
After school, I went to university where I got a BSc in Geology and an MSc in Geosciences. I started my career in the energy industry during my undergrad, working with research in Oil & Gas exploration. While I was finishing my master’s degree I applied for an international graduate programme at an Oil & Gas company, which resulted in me moving from South Brazil to Rio de Janeiro at first, and then to Aberdeen and Reading afterwards.
After finishing the two-year graduate programme, I moved to Norway for a few years (where I met my partner) and then followed him to Edinburgh, where I started to work as an O&G data/research analyst. As an analyst, I broadened my knowledge of the energy industry, gaining experience with energy demand and supply, power prices and asset valuations, for example, which prepared me for another career move into my current position.
Was there a turning point that made you want to shift towards a career in renewable energy?
While working in the O&G industry, I realised I was working with the wrong type of energy. Technically and metaphorically. Taking care of the world was always a priority for me and it just didn’t make sense for me to cycle to work to reduce my carbon footprint and avoid single-use plastic, all while working with fossil fuels. I decided it was time to start looking into the renewable energy industry. My first experience in renewables was working with ethanol, a renewable fuel that is widely used in my home country, Brazil.
How easy was it to move into the renewables sector?
Moving from O&G into renewables can be tricky. When petroleum prices dropped, lots of people left O&G and moved to the renewables sector but returned when the prices went back up. After that, it seemed like renewable companies were reluctant to hire anyone from the sector for a while. We know that oil and gas prices will continue to go up and down, but renewables remains a high growth sector and there’s a huge opportunity for people within O&G to apply their experience.
On top of that, despite having lots transferable skills and around ten years of energy industry experience, there was a lot to learn at the start since both industries are quite different. Luckily, my first manager at Red Rock (and the rest of the team) were great at getting me up to speed and sharing as much knowledge as possible, making my transition smooth and enjoyable.
What does your day-to-day look like? What’s the best part of your role?
As a financial modeller, my days are very much spent in front of a spreadsheet. It might sound boring to some, but to me the reality is far from it. My everyday tasks involve a lot of problem-solving, which I enjoy. In order to create robust financial models, I need to have a basic understanding of all the different things that may impact the asset. This includes understanding the construction and operation costs, the impact of generation, and understanding tax implications, for example. All this means I get exposed to the work of all the different departments within Red Rock, which can be very interesting.
What skills do you think will be most important for the next generation of renewables professionals?
Technical skills will remain very important for the next generation of renewables professionals. Engineers, data scientists/data analysts, and energy systems modellers will be essential in the work force. Digital skills are also becoming essential with the advances in AI. But equality important, soft skills will always be required, professionals will always need to communicate, collaborate and adapt in this fast-changing industry.