GENERAL PROCUREMENT NOTICE

Multinational

Empower New Energy AS acting as the investment manager of Empower Invest AS

GENERAL PROCUREMENT NOTICE

  1. Empower New Energy AS, acting as the investment manager of Empower Invest AS, has received a grant from the African Development Bank to finance essential pre-investment activities for an initial portfolio of small-medium scale renewable energy projects across Africa ;
  1. The principal objective of this project is to support Empower to progress its initial portfolio of projects (ranging in size from 1 to 10 MW) towards investment and construction. In particular, by providing project preparation/development resources for third-party service providers to perform: (i) legal feasibility, (ii) financial feasibility, (iii) third-party due diligence, and (iv) quality assurance, impact monitoring and risk management, on the pipeline projects ;
  1. The project includes the following components which will be procured immediately :
  • Legal feasibility : This will involve legal advisory and support on SPV and Holding Company structures; PPA negotiations and conclusion; Project Shareholding Agreement (PSA) negotiations and conclusion; terms of final EPC agreement; negotiation and signature of O&M agreement; negotiation and signature of O&M agreement; negotiation and signature of Asset Management agreement; This also includes compliance checks, including anti-fraud and corruption ;
  • Financial feasibility : The scope will include the following standard points to be covered for transaction bankability purposes but could be extended to other exceptional items on very specific cases: credit rating and credit checks on the offtaker; tax opinion with regard to the transaction structure and the local obligations in force; corporate finance modeling for the SPV; financial risk management plan; preparation and participation to PPA negotiations; preparation and participation to PSA negotiations; design and structuring of insurance and warranties; project guarantees in the view of bankability; lenders advisory where necessary ;
  • Third Party Due Diligence : The scope will include but not be limited to document verification; verification of energy production estimates; technical design verification; technical verification; financial model audit; E&S verification to confirm key assumptions, assess risks/issues and provide recommendations ;
  • Quality assurance, impact monitoring and risk management : The scope will include Carbon-avoided calculations; Carbon-avoided milestones and impact targets; Stakeholder consultation (community and local actors); SDG baseline data collection and analysis; SDG milestone and impact targets devised and agreed; Quality Assurance of documents and data; Risk mitigation strategy and management.
  1. Procurement of goods and/or works will be in accordance with the Bank’s new New Procurement Framework dated October 14, 2015 available on afdb.org. Acquisition of the services of Consultants will follow the Bank’s Rules of Procedure for the Use of Consultants. Bidding documents for the components listed above are expected to be available in October 2020.
  1. Interested bidders may obtain further information, and should confirm their interest, by contacting : [email protected] or by calling +4793410055