REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES)
Tax Advice and Financial Regulatory Compliance for Renewable Energy projects in Sub-Saharan Africa
Projects located across Africa (excluding South Africa). However, the most likely focal countries include: Burundi, Ethiopia, Madagascar, Morocco, Nigeria, Senegal, Sierra Leone, Uganda, Zimbabwe
Sector: Renewable Energy
Financing Agreement reference: G-Z1-FZ0-PRE-004
Project ID No.: ML-0024
Empower New Energy AS (Empower) has received financing from the African Development Bank toward the cost of essential pre-investment activities for its initial portfolio of small and medium scale renewable energy projects in Africa, and intends to apply part of the agreed amount for this grant to payments under the contract for “Tax Advice and Financial Regulatory Compliance for Renewable Energy projects in Sub-Saharan Africa”.
Empower is the fund manager of the impact investment fund Empower Invest AS (Empower Invest), which actively selects solar PV, small run-of-river hydro, battery storage and small wind projects across Africa and other emerging markets for investment, with a focus on small to medium-sized projects, usually between 1MW and 10MW.
Through these investments, Empower delivers high financial, environmental and social returns to investors and stakeholders based on a diversified portfolio of projects across many jurisdictions. Empower’s vision is a world powered by affordable renewable energy, and its mission is to bridge the financing gap that currently impedes the fulfilment of numerous renewable energy projects in Africa and other emerging markets.
As an impact investor, Empower is committed to ensuring full payment of all applicable tax both locally and internationally, and ensuring that all financial regulatory requirements are met and upheld. The nature of Empower’s investment model, however, often means that there may be multiple ways to structure a project and meet these criteria. The purpose of this contract is to provide detailed advice to Empower on how specific renewable energy projects can be structured to meet all applicable tax and financial regulatory obligations, with recommendations on the best approach in terms of efficiency, regulatory requirements, ease of establishment, cost, and transparency (along with any other specific criteria that may be deemed relevant for any particular project). Empower has already initiated projects in Ghana, Kenya, and Egypt, so advice for these jurisdictions is not likely to be required as they are known markets. New projects may be located in any of the other countries across the African continent (with the exception of South Africa), but experience of local and international tax and financial regulations in respect of Burundi, Ethiopia, Morocco, Nigeria, Senegal, Sierra Leone, Uganda, and Zimbabwe is highly desirable as these are the most likely next markets for investment.
In terms of physical presence across Africa, you will not be required (nor expected) to have offices in each of the required jurisdictions, but local expertise is essential and must be demonstrated. Bidders are encouraged to join other parties in consortia where this will lead to broader coverage of As the firm submitting the tender proposal, it is important to note that your firm will be responsible for overseeing the output of the services of all Partner Firms.
Please note that bidding parties holding stronger experience in the highlighted countries will be preferred to bidding parties holding weaker experience in the highlighted countries, irrespective of breadth of coverage elsewhere across the continent. However, in the event that more than one bidding party holds equally strong experience in the highlighted countries, breadth of coverage within other countries will be taken into account in selection.
Project technologies include : solar PV (rooftop and mini-grid), hydro, and hybrid systems.
Requirements for advice required may vary according to project context and location.
The SP will be required to undertake the following tasks, although this list may be expanded or vary according to project context and the needs of Empower Invest.
The expected time required for providing these services, per project, is 6-8 weeks. All required information to complete any assignment under this contract will be provided to the SP on a confidential basis, in line with Empower’s Confidentiality Agreement.
Empower now invites eligible consultants to indicate their interest in providing these services. Interested consultants must provide information indicating that they are qualified to perform the services (brochures, description of similar assignments, experience in similar conditions, availability of appropriate skills among staff, etc.). Consultants may constitute joint ventures to enhance their chances of qualification. Contract duration will be for a two-year maximum fixed term, as specified in the individual appointment proposal.
Eligibility criteria, establishment of the short-list and the selection procedure shall be in accordance with the African Development Bank’s “Rules and Procedures for the use of Consultants” (Published in 2008, and revised in July 2012) which is available on the Bank’s website at http://www.afdb.org.
Interested consultants may obtain further information at: notices@empowernewenergy.com with copy to raja@empowernewenergy.com .
Expressions of interest must be delivered or emailed to the address above by 9th November, 2020 at 23:59 CET and mention “Tax Advice and Financial Regulatory Compliance for Renewable Energy projects in Sub-Saharan Africa”.
Attn: Raja Dasgupta
Blended Finance and Impact Manager
Eden Square, Westlands
P.O. Box 13799 – 00800, Nairobi – Kenya