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Nigeria Distributed Access through Renewable Energy Scale-up (DARES) Program - Technical Consultant


  • SOLICITATION NUMBER: 0002011042
  • INSTITUTION:  IFC
  • ASSIGNMENT LOCATION: Nigeria
  • ISSUE DATE AND TIME: Sep 10,2024 12:39
  • CLOSING DATE AND TIME: Sep 19,2024 23:59

IFC intends to support the WB Nigeria Distributed Access through Renewable Energy Scale-up (DARES) program through a proposed investment of a 5-year revolver facility (“West Africa - IFC DARES Platform” or the “Platform”). It will be used to support up to 20 eligible mini grid developers and SHS companies (“Clients”) participating in Nigeria DARES through part-financing the construction and operationalization of isolated and/or interconnected mini grids or sales of SHS in rural or remote communities (the “Projects”). The Platform is expected to fund a portfolio of sites or a number of SHS sold per Client. The Platform will be repaid with cash flows from the grants received (based on operational milestones) by the Clients from the Rural Electrification Agency of Nigeria (REA). Though the total tenor of the Platform is 5 years; each tranche of financing for a Client will have a maximum tenor of 24-months which includes construction of mini grids and the first year of operations limiting IFC’s exposure to only short-term risks or for SHS; the tenor covers the two operational milestones (time of sales and 6 months after sales). The Platform will (1) support eligible mini grid developers/SHS companies to speed up the roll out of their mini grid or SHS networks and partly meet Nigeria’s huge unmet needs; (2) crowd in capital from commercial banks and other DFIs; (3) facilitate implementation of the Nigeria DARES project with WB; which if successful; could be replicated in other countries covered under the WB-DARES program. In order to ensure the success of the Platform and streamline the process; IFC is procuring the services of a technical consultant (the “Consultant”) to (i) develop standard selection criteria and based on this; select a shortlist (up to 20) of potential Clients for the Envelope; (ii) conduct technical due diligence of the potential Clients and their existing mini grid sites and pipeline (together; the Assignment); and (iii) assist in standard portfolio management of IFC financed sites.

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