Introducing Solarpro’s CFO, Victoria Dineva, an experienced financial expert who made a transition from the telecommunications sector into the dynamic world of photovoltaics. While both industries share strategic, regulated, and dynamic characteristics, Victoria emphasizes that being a CFO means much more than crunching numbers – it requires profound industry knowledge, regulatory insights, and understanding of customer and supplier dynamics. Operating in a dynamic global landscape, her role centers on refining financial strategies to support the company’s business goals and long-term success. Learn more about her journey below.
Your background before Solarpro is in the telecommunications sector, can you share your journey in the field of finance, leading you to the role of CFO in Solarpro?
Both sectors are strategic, regulated, technologically advanced, and dynamic. The focus right now is on renewable energy and business is thriving. There are advantages and disadvantages to this, of course. There is unquestionably a lot of interest and demand, leading to higher competition, materials price speculation, and further governmental regulation.
Being CFO, it looks mostly like playing with numbers but any business requires a profound knowledge of the industry, regulations, customers’ demands, suppliers’ patterns, etc.
Predicting the future development in an extremely dynamic industry, operating in many different countries with a variety of legal frames and business customs are the main challenges.
The business is growing in the direction of offering comprehensive solutions, including the production, storage, and intelligent use of electrical energy. Integrated parts and focus are Compliance and Social responsibility, as well.
Tell us more about your role in Solarpro.
Our business is project-based which requires a different budgeting and planning approach. There are significant fluctuations leading to complex cash flow management. Balancing inflows and outflows in a dynamic environment, activities split across multiple companies in the Solarpro Group, and handling peaks and drops is a challenging task. My main goal is the timely provision of financial resources. Given the banking sector is not yet prepared to support modern business, the entry of fintech companies is limited and in the process of development, there are regulatory pressures, which makes my role crucial and not easy.
What is your experience as a woman in a managerial position in the PV sector?
Although men dominate the PV sector, the main soft skills in finance are precision, consistency, persistence, creativity, analytical, correctness and punctuality, proactiveness, and a desire to learn. I firmly believe that qualities belong to women and men.
Leadership requires a specific attitude and people treatment, decision-making, responsibility, search for solutions, strategic view – looking ahead. It is about inspiration and motivation and being a role model. Therefore, I feel comfortable in a leading position even in a male-dominant industry.
How does an average day on the job look like for you?
Every day is different, however, there are routines. Always starting with checking daily cash positions and ensuring smooth operation. Then follows meetings with banks, auditors, partners, and colleagues, reviewing contracts, budgets, actuals, taxes, etc.
However, my focus is to develop and refine financial strategies to support business goals and long-term growth, review financial performance, analyse trends, and assess the company’s financial health.
What’s the most important skill to bring to your position?
Analytical thinking, comprehensive approach, decision-making and taking responsibility.
What are the most common challenges you face in your work?
To help their businesses develop resilience, CFOs are expected to take on more duties. We can ensure a competitive edge with digital transformation and sustainability initiatives by making crucial decisions supported by financial data.
For me, the most important tasks are hiring the proper people, minimising excess costs, monitoring profitability, and enhancing forecasts and financial reporting.
What initially drew you to the solar sector, what motivates you to work within renewables?
I joined Solarpro almost three years ago. I was attracted by the innovative and creative management and spirit of the Company. One of the industries with the most significant growth rate is renewable energy, which provides a wide range of job prospects for people with various educational backgrounds and skill sets. Renewable energy is energy produced from natural resources that regenerate themselves without depleting the planet’s resources in less than a human lifetime. These resources have the advantage of being accessible in some capacity almost everywhere. They are practically endless. Even more crucially, they don’t harm the climate or the ecosystem much.
How do you like to spend your free time outside of work?
My passion is travelling – discovering different habits, and customs, enjoying nature, relaxing in coastal resorts. I like playing golf. Being active is the key to hard work recovery.