REQUEST FOR EXPRESSIONS OF INTEREST
(CONSULTING SERVICES)
Financial Model Audits for Renewable Energy projects in Sub-Saharan Africa
Projects located across Africa (excluding South Africa)
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 “Financial Model Audits 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.
Investments into renewable energy projects are made by Empower through its investment vehicle, Empower Invest, using a platform approach – the investment vehicle is financed by international development institutions and private investors, and has investment capital available to deploy into clean energy projects. Investment decisions made by Empower are partly made in line with a proprietary financial model, covering a number of key variables that guide whether a project may progress to investment or not. The Service Provider (SP) will be required to audit the completed financial model for any given project, highlighting any errors and providing certainty over the conclusion of the model in question.
Interested individual consultants may obtain the Terms of Reference (ToR) and further information via email or at the address below during office hours 9:00-18:00 (Monday to Friday).
The expected time required for providing these services, on a per Project basis, is approximately 2 – 3 weeks but may vary according to Project context. All materials and information required to conduct the audit – chiefly, the financial model – will be provided by Empower. An undertaking of confidentiality will be required prior to the commencement of any work.
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 “Financial Model Audits 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