REQUEST FOR EXPRESSIONS OF INTEREST

(Individual Consultant)

Energy Financial Solutions Division

Energy Financial Solutions, Policy and Regulation Department

Power, Energy, Climate and Green Growth Complex

Africa Development Bank (AfDB)

(CONSULTANT SERVICES FOR INVESTMENT ANALYSIS AND MODELING)

Dear Sir, Madam ;

1. The African Development Bank hereby invites Individual Consultants to indicate their interest in the following Assignment: Project investment analysis and modeling ;

2. The Energy Financial Solutions, Policy and Regulation Department (PESR) of the African Development Bank (AfDB) has primary responsibility for processing the Bank’s non-sovereign operations in the energy sector. These operations include: lending, equity participation, guarantees, lines of credit to private financial intermediaries, syndications, underwriting and technical assistance related to private sector development in the 54 African countries (Regional Member Countries – RMCs) ;

3. The Energy Financial Solutions division (PESR.2) is dedicated to the origination, structuring, and execution of infrastructure projects in the power sectors. In addition to project finance, the division also provides direct support to corporate entities and projects through equity investments, as well as through specialized intermediaries such as private equity and venture capital funds ;

4. The services to be provided under the assignment by the consultant will assist project officers to perform an integrated financial and socio-economic analysis of their project by (i) improving and optimizing the integrated project spreadsheet model, (ii) assisting in analyzing, understanding, auditing and acquainting with financial and economic models prepared by other parties and (iii) determining the nature and magnitude of a project’s economic benefit and the financial and economic impact for all stakeholders. In addition, the consultant will also assist in providing capacity by developing standardized project financial and economic models covering areas of intervention and providing ‘on the job’ training to Bank task managers. The Terms of Reference is attached as Appendix 1 ;

5. The Energy Financial Solutions, Policy and Regulation Department invites Individual Consultants to indicate their interest in providing the above-described services. Interested Consultants shall provide information on their qualifications and experience demonstrating their ability to undertake this Assignment (CV, reference to similar services, experience in similar assignments, etc.). The template is attached at the end of this document as Appendix 2 ;

6. The eligibility criteria, the establishment of a short list and the selection procedure shall be in conformity with the Bank’s Rules and Procedure for Acquisition of Consulting Services funded by the Administrative or Capital Expenditure Budget. Please, note that interest expressed by a Consultant does not imply any obligation on the part of the Bank to include him/her in the shortlist.

7. Establishment of the short list :

A shortlist of three to six individual consultants will be established at the end the request of expressions of interest. The consultants on the shortlist will be judged on the following criteria on the basis of their profile.

8. Expressions of interest must be received by email at the address below no later than Monday 20 th May at 17h00 local time (Abidjan, Cote d’Ivoire) and specifically mentioning Project investment analysis and modeling in the subject line of the email.

For the attention of:

Naoshige Kinoshita: n.kinoshita@afdb.org

Ayodeji Adebola: a.adebola@afdb.org

With copy to: Roseline Sanon: r.sanon@afdb.org

Appendix 1

Terms of reference African development bank

Energy Financial Solutions, Policy and Regulation Department

Background:

The African Development Bank has recently launched the New Deal on Energy for Africa Program with an aspirational goal of Africa achieving universal access to energy by 2025 (100% access in urban areas, 95% in rural areas) leveraging on and off-grid solutions. To achieve and drive towards this goal, the AfDB will work with governments, the private sector, bilateral and multilateral energy sector initiatives to develop a Transformative Partnership on Energy for Africa – a platform for public-private partnerships for innovative financing in Africa’s energy sector. This Strategy for the New Deal on Energy for Africa sets out the priorities for the Bank’s interventions in the energy sector from 2016 to 2025.

The Energy Financial Solutions, Policy and Regulation Department (PESR) of the African Development Bank (AfDB) has primary responsibility for processing the Bank’s non-sovereign operations in the energy sector. These operations include: lending, equity participation, guarantees, lines of credit to private financial intermediaries, syndications, underwriting and technical assistance related to private sector development in the 54 African countries (Regional Member Countries – RMCs) ;

The Energy Financial Solutions division (PESR.2) is dedicated to the origination, structuring, and execution of infrastructure projects in the power sectors. In addition to project finance, the division also provides direct support to corporate entities and projects through equity investments, as well as through specialized intermediaries such as private equity and venture capital funds.

To fulfil its roles in support of private sector energy transactions, PESR is seeking the services of an individual consultant with project finance, energy, and financial modelling experience to assist the team with financial modelling and project investment analysis.

Scope of the assignment :

The services to be provided under the Assignment include:

• Reviewing financial models prepared by other parties ;
• Developing and building complex financial and economic models in house for specific transactions ;
• Assisting and developing complex financial models for contracting agencies (Utilities, Ministry of Energy, Agencies etc.) as input for Investor/sponsor roadshows and investment decisions by the bank ;
• Deconstructing complex financial models into “user friendly” spreadsheets to assist in decision making ;
• Assisting with analyzing financial and economic models prepared by other parties (including conducting sensitivity analysis) ;
• Determining the appropriate conversion factors for linking the socio-economic and financial cash flows in the models ;
• Determine the nature and magnitude of project’s economic benefit, and the financial and economic impact for all stakeholders ;
• Drawing conclusion from the risk and socio-economic analysis that can be used to affect project design and financial structuring.

Profile of the consultant :

• Minimum Educational Level of Consultants: MBA or Masters in Finance. An engineering qualification will be an added advantage. Additional qualifications in financial modelling and/or accounting is a plus ;
• A proven track record of at least 6 years’ experience in financial modelling and investment analysis of private sector projects, specifically in energy sector. Demonstrated experience in socio-economic analysis of projects is an advantage.

Required skills :

• Superior client relationship skills; capacity to deliver high quality work within deadlines ;
• Previous experience with investment banks, multilateral and bilateral institutions, IPPs, advisory consultants undertaking financial modeling and analysis on projects ;
• Cross cultural sensitivity, exposure to bilingual working environment (French and English) ;
• Working language: Excellent English speaking and writing skills. Working knowledge of the French language is considered as an added advantage ;
• Communications, organization, research and report writing skills ;
• Autonomy, drive and adaptability.

Duration of assignment :

The estimated duration of services is 6 to 12 working months with the possibility of extension. The commencement date is planned for 1^st June 2019.

Location of assignment :

The headquarters of the African Development Bank is in Abidjan. Consultant should be ready to work from any RMC as needed.

 Appendix 2

MODEL CURRICULUM VITAE – PDF